USA > New York > Oneida County > History of Oneida County, New York : from 1700 to the present time, Volume I > Part 33
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SPECIAL SURROGATE
Ralph McIntosh, elected 1852. Nelson B. Stevens, elected 1855. Ralph McIntosh, elected 1858. David T. Jenkins, elected 1861. Eugene Stearns, elected 1867. Theodore Avery, elected 1870.
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HISTORY OF ONEIDA COUNTY
Henry J. Cookinham, elected 1873.
Marcus D. Raymond, elected 1874. Elliott S. Williams, elected 1877. Emmett J. Ball, elected 1878, 1881. John D. F. Stone, elected 1884.
H. C. Sholes, elected 1887. James P. Olney, elected 1890. Elliot O. Worden, elected 1893, 1896. Willis W. Byam, elected 1899, 1902. Elijah T. Garlick, elected 1905.
Edward L. O'Donnell, elected 1908.
DISTRICT ATTORNEYS
Thomas R. Gold, appointed from February 26, 1797 to August 20, 1801.
Nathan Williams, appointed 1801. Joseph Kirkland, appointed 1813.
Thomas H. Hubbard, appointed 1816. Nathan Williams, appointed 1818.
Samuel Beardsley, appointed 1821. Hiram Denio, appointed 1825.
Ichabod C. Baker, appointed 1834.
Timothy Jenkins, appointed 1840.
Calvert Comstock, appointed 1845. Calvert Comstock, elected 1847.
Roscoe Conkling, elected 1850. Samuel B. Garvin, elected 1850. J. Thomas Spriggs, elected 1853. Henry T. Utley, elected 1853. Jairus H. Munger, elected 1856.
Hiram T. Jenkins, elected 1859, 1862, 1865.
Daniel Ball, elected 1868. Daniel C. Stoddard, elected 1871.
Milton D. Barnett, elected 1874-1877.
William A. Matteson, elected 1880-1883. Thomas S. Jones, elected 1886-1889. George S. Klock, elected 1892-1895.
Timothy Curtin, elected 1898-1901. Emerson M. Willis, elected 1904-1907. Bradley Fuller, elected 1910.
CHAPTER XXII
FINANCIAL INSTITUTIONS
In the first settlement in Oneida county as elsewhere barter was the rule of trade. The farmer sold his products to the storekeeper for supplies for the family, and the like exchange was made by the retail dealer with the whole- sale merchant. Very little cash was in circulation, and this was in silver of either English or Spanish mintage. The more thrifty keepers of stores and a few farmers were able to lend in a small way to the needy to tide them over until harvest. They would receive deposits from any who had savings hoarded. Activities grew beyond reliance on such aids or on loans from Albany or New York. The Manhattan Company, for which Aaron Burr had secured a char- ter to supply water from New York but was from the outset a bank, saw here an inviting field, and in 1809 sent Montgomery Hunt to establish a branch in Utica, the first bank in the county. June 1, 1812, a charter was secured for the Bank of Utica, which opened with a capital of $500,000 out of $1,000,000 au- thorized, and was practically the successor of the Manhattan branch bank. Mr. Hunt was cashier and the chief officer, with James S. Kip, president, and a board of directors of leading citizens. Henry Huntington of Rome was elected president at the close of the first year, and up to his death in 1845 drove from his residence regularly to meet with the directors. Then Thomas Walker was elected president, followed in 1863 by Benjamin N. Huntington. In 1876 Publius V. Rogers, who had, as cashier since 1853 by his ability and command of the confidence of the business community, earned the promotion, was ad- vanced to the presidency. Until his death in 1895 he set a standard as a faith- ful, expert financier not surpassed in this part of the state, and built up the institution to the forefront of national banks of the interior. Charles B. Rogers has since served as president. Until 1865 the bank conducted its affairs under the laws of New York, but in that year took advantage of the national statutes under the style of the First National Bank of Utica. John A. Goodale was cashier after P. V. Rogers. Henry R. Williams is now a vice president and the cashier.
Alexander B. Johnson, in 1814, was appointed a state director in the Bank of Utica, but was not in full accord with Cashier Hunt. He devised a rival institution, but it was not easy to secure a charter from the legislature, as was then necessary. For that reason Mr. Johnson projected the Utica Insurance company with capital of $500,000, and framed the law passed in 1816 so as to cover the right to carry on banking. That business was entered upon with Mr. Johnson as secretary and treasurer and real manager, with prominent men in the direction. The subterfuge aroused bitter opposition; the legislature
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HISTORY OF ONEIDA COUNTY
amended the statutes so that the insurance company could not be a bank. It had put out notes for $100,000, some for fractions of a dollar, and its loans were $300,000. August 3, 1818, after re-insuring its policies and providing for the payment of its obligations the company closed its affairs.
Meanwhile in 1815 the Ontario Bank of Canandaigua had opened a branch in Utica, with Col. Benjamin Walker president, and next Arthur Breese. The capital was $300,000, later $500,000. In 1819 Alexander B. Johnson was chosen to the presidency and was supported by some of the most eminent Uti- cans, and so continued, until Edmund A. Wetmore was made receiver in 1857. On the end of the charter of the parent bank in 1855 the Utica branch became the Ontario bank. Mr. Johnson was the most literary of the bankers of the county, an author of wide repute on philosophical as well as financial subjects. Mr. Hunt and he were the pioneers in local banking, rivals while both lived, and men of mark in their profession.
The Bank of Whitestown was organized in 1839 with $100,000 capital un- der S. N. Dexter as president, who was succeeded by F. B. Henderson. After a generation its business was closed out on the expiration of the charter. Israel J. Gray was the last cashier.
The Bank of Rome started in 1832 with a capital of $100,000, had for its first president John Stryker, and was fully liquidated when its charter expired in 1863.
The application to the legislature for a charter for the Oneida Bank was strenuously opposed, but the act was passed May 13, 1836. A commission to distribute the stock among the subscribers was headed by A. G. Dauby, but the result did not please everybody, and the amount of capital, $450,000, was not equal to the demands. A robbery of $108,000 of its cash from its vaults before opening for business caused a shock, and only a part of the money was ever recovered. But the board of directors was composed of citizens who com- manded confidence, and the bank starting with A. G. Dauby as president for three months, and then securing the services of Alfred Munson in that office, made firm its place in local finance. Until his decease in 1854 he was the con- trolling force in the institution. Charles A. Mann was selected to fill the va- cancy, and on his death in 1860 the position was conferred on James Sayre, who served 17 years, dying in 1877. A. J. Williams followed, and died in 1888, when Robert S. Williams, who had received training and experience as cashier, was called to the presidency, and filled the position until he died, in 1899. W. S. Walcott and L. H. Lawrence held the office for a couple of years each. George L. Bradford was promoted from the cashiership January 10, 1905, and still (1911) serves as president. Entering the national system in 1865, the name was changed to the Oneida National Bank. George A. Niles is the present cashier.
John C. Devereux and his brother Nicholas had received deposits of sav- ings from their neighbors, but desired to give more than personal duration to the business, and enlisted some of the strongest capitalists to join them in founding the Utica Savings Bank, which was chartered July 26, 1839. John C. Devereux was chosen president and served for ten years. On his decease in 1849 Thomas Walker was chosen, and in 1863 Hiram Denio succeeded, and was
EDWARD HUNTINGTON Capitalist
SAMUEL WARDWELL Banker
BLOOMFIELD J. BEACH Lawyer and banker
ALFRED ETHRIDGE Merchant
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HISTORY OF ONEIDA COUNTY
followed by Edmund A. Wetmore, William J. Bacon, Ephraim Chamberlain, William Blaikie, and in 1910 by Charles A. Miller, the incumbent. The first secretary and treasurer was Stulham Williams, who was for some time also teller and bookkeeper. In 1840 the amount due depositors was $27,607, and the net proceeds were $65.82, which were paid to the treasurer for his services. The institution had the benefit of the care and experience of Mr. Williams for thirty-four years. As his health failed and after his death in 1873, the assistant performed the tasks of treasurer, Thomas Buchanan from 1860 to 1866, and John E. Spofford from that date to 1879. Addison C. Miller was elected treas- urer in 1878, serving up to the time of his death. Then Rufus P. Birdseye, who had been assistant since 1879, was in 1894 promoted to be treasurer, and is now serving his seventeenth year.
The Utica Savings Bank has suffered three runs by its depositors. The first begun in December, 1872, and 827 accounts were closed and $468,405 with- drawn, but the vaults held nearly $500,000 in cash when quiet was restored. The result was to restrict accounts to those of strictly savings character. Again in May, 1886, signs of a run appeared, but it continued only a week and the withdrawals were about $21,000. But at the close of July, 1893, more uneasi- ness was displayed, and on successive days sums of $30,000 and $26,000 were drawn out. The trustees deemed it wise to enforce the rule to require notice of sixty days for withdrawal of cash. The deposits fell nearly $400,000. But the institution has grown and broadened its resources and stands in the fore- front of its class. By its report January, 1911, it shows 34,425 open accounts averaging $440.20, while its assets are $16,382,620, of which the surplus is $1,187,269.
The Bank of Central New York was organized in 1838 with a capital of $100,000 and Anson Thomas served as president until his death in 1856, and Spencer Kellogg was chosen in his stead. A savings department was main- tained. The institution went into the hands of Joseph Benedict as receiver in 1859.
Waterville founded its own bank in 1838 with a capital of $130,000; Julius Candee was president. It accepted the national system in 1865. Daniel B. Goodwin served as president until 1888, when William B. Goodwin and next Samuel J. Goodwin followed him. George I. Hovey is now president and W. J. Butler cashier.
In 1839, John J. Knox established the Bank of Vernon, of which he be- came president, and the capital was $81,700. He was succeeded by Josiah Case in 1862. There followed Warren G. Strong, A. Pierson Case, W. G. Strong again until 1908, when Fletcher A. Gary was chosen to the position. D. B. Case is now the cashier.
The Bank of Camden started in 1847 with $100,000 capital under the presi- dency of H. J. Miner, who was succeeded by Lyman Curtiss, and gave way to private banks. The First National Bank of Camden with $50,000 capital be- gan business in January, 1880, and Daniel G. Dorrance was president until he died in 1896. With him was associated John G. Dorrance as cashier, who was promoted to the presidency and still serves in that office. D. J. Dorrance is the present cashier.
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HISTORY OF ONEIDA COUNTY
In 1847 in Rome the Fort Stanwix Bank was organized under state laws and changed to the national system in 1865. The capital was $110,000, and David Utley was president. Under the cashiership of George Barnard it failed by his acts, and its affairs went to the courts in 1896.
In 1846 the Bank of Kirkland was opened in Clinton by O. Gridley as president with $50,000 capital, and he was succeeded by A. G. Gridley. The institution for some years had a successful career.
The Utica City Bank began business September 1, 1848; with a capital of $125,000 and as president Hiram Denio. The capital was made $200,000 in 1849, and $400,000 in 1888. It became a national bank in 1865. The presi- dents following Judge Denio have been Jared E. Warner, Isaac Maynard and the present incumbent, Charles S. Symonds, who had earned the position by faithful service as cashier. Success led to the increase of capital by steps up to $1,000,000. The misconduct of a trusted clerk exposed in 1910 involved a considerable defalcation, but did not shake the strength of the institution. Putting itself under federal laws in 1865, it took the name of the Utica City National Bank. The present cashier is Melville C. Brown.
About the middle of the century a fever for the organization of fire insur- ance companies fell upon the county. In 1849 the Utica Insurance was established with $150,000 capital and Henry R. Hart president; the Aetna with $125,000 capital, John E. Hinman president, and the Farmers, capital $100,000, John D. Leland president. In 1851 followed the Globe with $150,000 capital, C. B. Coventry president. The life of all these corporations was brief, and the loss to the stockholders, many of them active professional and business men, caused serious inconvenience. The American Union Health Association, capital $50,000 and Edward Eames president, survived not long from its birth in 1851.
The Central City Savings Institution was established in 1851 in connection with the Ontario Branch bank, and managed by its cashier, James S. Lynch, until such relation between savings and commercial banks was prohibited. Then the institution failed and was closed in 1873.
The Rome Savings Bank has met a public need with success since it was founded in 1851 with Hervey Brayton as president and B. J. Beach secretary. Successive presidents were Edward Huntington, Gordon N. Bissell, Henry D. Spencer, W. R. Huntington, while Samuel H. Beach is the present incum- bent. Up to 1896 the books of this savings bank were kept with the Fort Stan- wix National Bank, but since the failure of the latter the savings institution has been distinct and separate. After the decease of B. J. Beach in 1894, Charles F. Barnard served as secretary and treasurer until he died in 1905, and James T. Stone followed; in 1910 Mr. Stone was designated as treasurer, while Fred M. Shelley was made secretary. According to its report this bank had Janu- ary 1, 1911, assets of $3,272,171, of which $304,241 was surplus above liabilities, showing great strength. The Rome Savings Bank is now the oldest bank in that city.
In 1851 the Rome Exchange Bank was founded with R. B. Doxtater presi- dent and F. H. Thomas cashier. It passed from the state to the national sys- tem in 1865 under the style of the First National Bank of Rome, with $100,000
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HISTORY OF ONEIDA COUNTY
capital. J. G. Bissell served as president for many years after 1889. The present officers are Thomas H. Stryker, president, and F. M. Shelley, cashier. Under state laws the Oneida County Bank with a capital of $125,000 in 1853 began the career which lasted for half a century. The presidents were Ira B. Carey for two years, Charles H. Doolittle who died in 1874, Francis Kernan until 1887, J. M. Butler until his death in 1899, and Charles A. Butler until the institution was taken over in 1900 by the older and stronger First National bank. Frank A. Bosworth acted as cashier from 1887.
In 1854 the Oneida Central Bank began business in Rome as a state institu- tion, became the Central National Bank in 1865, but failed in 1894. Its busi- ness was closed by Jim Stevens as receiver.
The Second National Bank of Utica was incorporated December 10, 1863, opening for business the next February with a capital of $300,000. The first president was William J. Bacon, who gave place in a few months to Theodore S. Faxton. When the latter died in 1881 Edward S. Brayton was elected to the office. On his death in 1887, William M. White became president, serving until he died in 1896. Since then Thomas R. Proctor has been the head of the institution. George R. Thomas was the first cashier and filled the position for twenty-four years, dying in 1887. Frank R. Winant is the present cashier.
The National Savings Bank of Utica was established in 1865 and was man- aged by Thomas Buchanan treasurer. In 1868 it was merged with the People's Safe Deposit and Savings Institution, and later Levi Blakeslee was executive officer. In 1872 receivers took charge of its affairs.
Rome added to its financial institutions the Oneida County Savings Bank, May 1, 1869. Samuel B. Stevens was president until 1884, and has been suc- ceeded by Alfred Ethridge, John D. Ely, Harrison Hannahs, Lebbeus E. El- mer, Owen E. Owens, John R. Edwards and Charles W. Lee. The treasurers have been G. Harrison Lynch, Charles S. Griffin, Cyrus D. Prescott, John R. Edwards, Albert W. Tremain and A. Edward Wetherbee. The bank had Janu- ary 1, 1911, 7,457 open accounts, with assets of $2,873,912, and a surplus of $124,960.
In 1875 the title of the Bank of Rome was revived in a new state institu- tion with $100,000 capital and W. J. P. Kingsley president. January 14, 1879, it passed into the national system as the Farmers National Bank. Mr. Kings- ley has been the only president, while Samuel Wardwell, the original cashier, was succeeded in 1904 by G. G. Clarabut, who now fills the position. In Oc- tober, 1911, the capital was increased to $250,000, its surplus now being $100,000.
The needs of Boonville for banking facilities were served first two genera- tions ago by the Valley Bank of Ela N. Merriam. The Bank of Boonville fol- lowed in 1866, and its stockholders organized the First National Bank of Boon- ville, January 4, 1876, with $75,000 capital. The presidents have been Joseph R. Tharratt, Eugene C. Dodge, and the incumbent, B. C. Tharratt. Clark Dodge was cashier in 1876, succeeded by E. C. Dodge, and since 1896 by James P. Pitcher. From 1872 to 1906, S. C. Thompson & Company conducted a banking business in the village.
Utica was selected as the headquarters of the Commercial Travelers' Asso-
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HISTORY OF ONEIDA COUNTY
ciation incorporated March 19, 1883. Henry D. Pixley has been president from the outset; Edward Trevett was the first secretary and treasurer; since his death in 1903, George S. Dana has filled that position. The association has gained a leading position in its class. Its members, January 1, 1911, were 66,- 388. It has a surplus of $618,456, and a cash reserve of $32,203. Its income from members in 1910 was $584,591, while the claims paid amounted to $426,960.
Edward Curran was the first president of the Homestead Aid Association of Utica, founded February, 1884. When he died after a service of ten years George D. Dimon became his successor. Since January, 1896, the presidency has been filled by Watson T. Dunmore. The secretary is Sherwood S. Curran and the treasurer Charles B. Rogers. Its receipts for 1910 were $1,213,277, with $44,885 cash on hand at the close of its fiscal year, and total assets amount- ing to $2,598,315. The members number 5,290, and the reserve fund is $54,716:
Springing out of the private banking house of A. D. Mather & Co., in busi- ness in Utica since 1886, a state bank was established in Utica in 1890, with a capital of $200,000. The officers were Joshua Mather, president, and on his death Charles W. Mather, with Edward Bushinger cashier. On the death of C. W. Mather in 1899 Mr. Bushinger was made executive officer. January 15, 1900, Jacob Agne was chosen president. August 3, 1903, the bank was trans- formed into the Citizens Trust Company with the same officers. When Mr. Bushinger died in 1906, F. H. Doolittle was chosen secretary, and July 11, 1906, William I. Taber succeeded Mr. Agne in the presidency, which he still fills. The capital was increased to $300,000 in 1910 to meet the exigencies of increasing business.
For the southeastern part of Utica the Corn Hill Building and Loan Associ- ation was organized in February, 1891, with about a hundred members. Homer C. Townsend was president, William Howarth secretary, and Edward Bush- inger treasurer. On the decease of Mr. Townsend George W. Booth was chosen to the presidency, but resigned in May, 1902. J. Lewis Jones succeeded to the position and is still serving. In 1910, Mr. Howarth died, and Owen F. Luker became secretary, as on the death of the first treasurer in 1906 Charles W. Bushinger became his successor. The present members are 680, who hold 9,428 shares. The dividends have been six to seven per cent. The loans are $300,340. The assets are the same, and the reserve fund $6,702.
The Utica Trust and Deposit company has had one president, James S. Sherman, and one secretary and treasurer, J. Francis Day, (now also a vice president) since it was incorporated August 19, 1899. Its capital at the start was $300,000, but was increased in 1910 to $400,000. The company has grown to be among the strongest institutions of its class.
Holland Patent had a state bank organized in 1895, which April 14, 1900, was converted into the First National Bank with $30,000 capital, George G. Chassell president and H. W. Dunlap cashier. This organization was that of the original Bank of Holland Patent and it remains unchanged.
The First National Bank of Remsen dates from November 5, 1902. Its cap- ital is $25,000, and its president George E. Pritchard, with H. W. Dunlap cashier.
The National Exchange Bank of Boonville was organized January 1, 1906,
J. MILTON BUTLER Banker
STALHAM WILLIAMS Banker
P. V. ROGERS Banker
HENRY HUNTINGTON Banker
MONTGOMERY HUNT Banker
ROBERT S. WILLIAMS Banker
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HISTORY OF ONEIDA COUNTY
with $25,000 capital. Eugene N. Hayes is president and Herbert R. Tubbs cashier.
The Utica Fire Insurance Company, a mutual organization, has been in business since 1903, has paid $22,875 in losses, and has $12,693 assets. The first president was William Howarth, secretary, A. A. Linck, and Jacob Agne treasurer. Their successors are George J. Whiffen president, H. A. Ackroyd secretary and Frederick W. Owens treasurer.
The opinion that Rome can afford more than two commercial banks, with its growing population, led in March, 1911, to the formation of the Rome Trust Company, with Albert W. Tremain as treasurer. The capital is made $100,000 with $50,000 surplus. The banking department refused to authorize this com- pany to transact business.
In both cities and the larger villages private bankers have offered facilities to depositors and borrowers. Some of them have been long in business with considerable capital, and have served their customers acceptably. They are not, however, incorporated institutions.
Commercial banks and trust companies reported according to their respec- tive charters to the State department February 28, 1911, and to the comptroller of the currency March 7, 1911, showing these results:
First National Utica
Capital $1,000,000
Surplus $1,406,084 761,764
Resources $7,086,681
Oneida National Utica
600,000
3,461,734
First National Waterville
150,000
79,447
554,903
First National Vernon
100,000
44,458
396,745
Utica City National
1,000,000
234,973
3,636,267
Farmers National Rome
100,000
156,412
1,226,397
First National Rome
100,000
127,665
1,108,198
Second National Utica
300,000
342,833
2,192,398
First National Camden
50,000
57,884
444,432
First National Boonville
75,000
16,304
861,773
Utica Trust & Deposit
400,000
515,734
8,079,742
Citizens Trust Utica
300,000
263,556
4,108,375
Exchange National Boonville
25,000
22,028
390,926
First National Holland Patent
30,000
20,346
319,241
First National Remsen
25,000
9,715
275,770
CHAPTER XXIII
PRESS AND PUBLICATIONS
Five years before Oneida county was cut off from Herkimer county and organized, the first newspaper published west of Albany was issued in New Hartford. Its name was the Whitestown Gazette, and its proprietors were leading citizens, Jedediah Sanger, Samuel Wells and Elijah Risley, with Richard Vosburg printer. The first number bore date July 11, 1793, but it lapsed the next winter, and was resumed in May, 1796, by Samuel Wells, with William McLean as printer, who soon after became proprietor, and removed the office to Utica in July, 1798, and added to its title, making the name Ga- zettean Cato's Patrol.
January, 1794, a second paper was started by James Swordg of New York -the Western Sentinel-printed by E. P. Eton in Whitesboro; it survived about six years and was discontinued. A copy of the initial edition of the Ga- zette hangs framed in the museum of the Oneida Historical Society, and in its archives are scattered numbers of the succeeding papers. The beginning can thus be traced of the stream of issues from the press, which have developed such enterprise and influence.
From 1804 to 1816, John H. Lathrop, a graduate of Yale, was editor and proprietor of the Gazette, with Merrell and Seward, printers, and he changed the name to the Utica Patriot. January 1, 1815, Asabel Seward, William H. Maynard and William Williams started the Patrol, which the next year was united with the earlier paper, and the Patriot and Patrol was published by them for a year as a semi-weekly, then as a weekly. In 1821, by reason of political changes, this paper gave way to the Utica Sentinel, with William Wil- liams as editor and proprietor.
Meanwhile August 17, 1799, Thomas Walker and Ebenezer Eton began in Rome the publication of the Columbian Patriotic Gazette and March 21, 1803, the paper was removed to Utica. The next change was the sale of the Sentinel to Samuel D. Dakin and William J. Bacon, who merged it May 6, 1825, with Mr. Walker's weekly under the style of the Utica Sentinel and Gazette. After three years Mr. Bacon retired, and in 1829, Mr. Dakin sold to Northway & Por- ter, the printers, but remained as editor until 1831.
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