History of Onondaga County, New York, Part 45

Author: Clayton, W.W. (W. Woodford)
Publication date: 1878
Publisher: Syracuse, N.Y., D. Mason & Co.
Number of Pages: 840

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( PHOTO BY W. V. RANGER. SYRACUSE.I

The subject of this sketch was born in the town of Pompey, Onondaga Co., N. Y., July 2, 1831. He was the youngest son of Thomas Rice and Charlotte Flint, both natives of Massachusetts. His father came to this county in the year 1818, and settled in the town of Pompey, half a mile east of Oran, and hence was one of the pioneers of that part of the county; he was a farmer by occupation, and died March 25, 1843.

The subject of this memoir came to the city of Syracuse at the age of twelve years, and having lost his father about this time, and not being pecuniarily assisted, was, unaided and alone, at that age left to begin only as a boy can. His first two years were spent as a bundle boy. During the next two years he was a clerk in a general merchandise store at Marcellus. Returning to the city he entered upon a clerkship in the dry-goods trade, and remained until 1852, and went to New York and became a clerk in a large wholesale house, then one of the largest dry-goods houses of that city. Here he remained for one year, and returned to his native county. During these years, by strict economy, he had got together a few hundred dollars. This money, on his return, he invested, first in partnership with Col. Charles Richardson. After two years he started alone

in the dry-goods business, in a small way, in the old Franklin building, East Genesec strect. Although limited in an oppor- tunity for an education from books while young, the past few years' experience had supplied him with a practical business education, and strengthened his business ability. He began his business career in a modest way, determined to succeed if energy, indomitable perseverance, and business habits would win success. At the time of writing this sketch he is one of the oldest dry-goods merchants in the city, and during these years his name has been a synonym for strict integrity of pur- pose, honorable dealing, and a business thrift often characteristic of self-made men. The result of deserved ambition may be seen on South Salina street, in the fine brick structure ocenpicd by him for a dry-goods house, being one of the best in thic city, and erected in 1876.

In the year 1854, August 31, he married Miss Ellen, daughter of Hon. Hiram Eaton, of Fayetteville, to whom has been born three children,-Nellie Z., Lizzie E., and Edward I.

In politics Mr. Rice is identified with the Republican party. Is not solicitons of any political preferment; looks rathier to principles involved than to party in casting his vote.

209

HISTORY OF ONONDAGA COUNTY, NEW YORK.

The Messrs. Wilkinson are the only bankers of this city who are natives of Syracuse. Many others are old residents, but were not born here. It is a singular coincidence that the Wilkinson brothers are now doing banking business upon the very premises where they were born, their father, John Wilkinson, Esq., having occupied the place with his residence and law office, at a time when he was the only lawyer in the village, and his office was con- sidered " out of town."

The Messrs. Wilkinson are both civil engineers by profession, and each has been connected with railway enterprises as superintendents of roads or divisions. They became bankers by the force of circumstances, and although the experience was new to them, they seem to have adjusted them- selves as naturally to this branch of business as if they had been brought up in it. At least the suc- cess which has attended their efforts is a sufficient proof that they have not mistaken their calling.

The Banking House of Wilkinson & Co. deal in foreign exchange, receive deposits, issue loans and discounts, and, in short, attend to all the branches of a general banking business. Its affairs are in a satisfactory condition, and its increasing deposits are evidence of a large share of public confidence.

The Cashier is Mr. Edward Westcott, son of a former Mayor of Syracuse. He has the reputation of being a business man in every sense of the word, and his relations with the monetary and other interest of the city have always been of the highest character. Mr. E. C. Seager is the teller, Mr. Charles Whitney book-keeper, and William Hookaway, discount clerk. These gentlemen have been associated with the bank for several years, and creditably fill their responsible positions.

TRUST AND DEPOSIT COMPANY OF ONONDAGA.

This Banking Institution has a sphere of busi- ness somewhat peculiar. The company is author- ized by its charter to make investments for parties at home or abroad, in bonds, stocks, &c., and to act as agent, receiver, executor, administrator, guardian, treasurer, assignee or trustee, either by power of attorney or appointment of court. The duties of administrator have extensively fallen to it, and it is well fitted to act in this capacity from its capital which is pledged for its trust funds, its absence of personal interest, and its command of time to de- vote to such business. Having all the rights and privileges of a Savings Bank, it designs to go far- ther, and provide safe receptacles for money, bonds, and other valuables, differing in its reception and keeping of them from the system which character-

izes ordinary deposits. The Trust and Deposit Company of Onondaga was organized in 1869, with Dudley P. Phelps, President ; Daniel P. Wood and E. B. Judson, Vice-Presidents ; and Matthew J. Myers, Secretary. The offices of this company are in the Onondaga County Savings Bank building, where every facility is provided for the safe keep- ing of deposits. The company for a small consid- eration guarantee their absolute safety, and thus meet the wants of prudent men and women who desire to secure their earnings, small or large sums, or valuables of any kind from being lost or de- stroyed. To accomplish this object, the office of the company is provided with one of the finest vaults in the State. This vault, resting upon solid masonry, is encased in steel. Three doors lead to its interior, two of them being iron and steel, pro- vided with burglar-proof combination locks, and one of them is the famous Sargent chronometer lock. The third door is of iron wicker work. Reaching the interior of the vault one sees a num- ber of safes-one of them burglar-proof-where are now stored thousands of dollars worth of bonds for safe keeping. The others are for the safe keeping of papers, wills, deeds, insurance policies, mort- gages, and the like. These latter safes are sub- divided into a great many apartments, each being provided with lock and check lock, and a party renting one of these boxes has absolute control over it. These small boxes or safes are rented at a trifling cost for a longer or shorter time as may be desirable. Provision is also made within the vault for the safe keeping of jewelry, silver ware, &c., an excellent convenience which should be bet- ter understood and more generally used, for heavy securities and valuables may be thus preserved, against the depredations of burglars and against fire. In addition to this peculiar function, the company, as a savings bank, receives deposits in sums of five cents and upwards, interest on all sums being com- pounded every six months.

The Company has a paid up capital of $100,000, one half of which is deposited with the Superin- tendent of the Banking Department of the State of New York for the security of trust funds and de- positors. All the safeguards which the State has provided are thrown about it, and the company stands upon the most substantial of foundations. The present officers of the company are the follow- ing named gentlemen :

Officers-John J. Crouse, President ; Geo. Barnes, M. J. Myers, Vice-Presidents ; James Barnes, Sec- retary.

Trustees .- John N. Babcock, D. Edgar Crouse,

27*

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HISTORY OF ONONDAGA COUNTY, NEW YORK.

Frank Hiscock, Martin A. Knapp, Thomas Molloy, William C. Williams, Robert G. Wynkoop. George Barnes, Frank Bigelow, John J. Crouse, George N. Kennedy, Alfred Mercer, Matthew J. Myers, Daniel P. Wood

Mr. Dudley P. Phelps having retired from active connection with the affairs of this Company, its man- agement will hereafter devolve upon Mr. James Barnes, for the past thirteen years connected with the Onondaga County Savings Bank.

The recently retired President, Mr. Phelps, is an old citizen of Syracuse, having resided here forty- eight years. He is an attorney by profession, although he has never practiced, except for a brief time. For a long time he was connected with the Syracuse and Utica Railroad, continuing with it till the consolidation. From 1861 to 1868 he was Treasurer of the Onondaga County Savings Bank, and since the formation of the Trust and Deposit Company, he has given his whole attention to the duties of the Presidency of the Company. The other gentlemen connected with the Company are all well-known citizens whose names would not be associated with anything doubtful or visionary.

Dow, SHORT & CO.'s BANK.

The firm of Dow, Short & Co., bankers, com- menced business in January, 1876, the copartners being H. F. Dow, H. W. Short and O. B. Sperry. Their offices are in the basement of the Onondaga County Savings Bank building.

SAVINGS BANKS.

The Savings Banks of this city have accom- plished greater good within comparatively few years than was anticipated at the outset of their career. Their immense deposits bespeak habits of thrift and economy which cannot be too warmly com- mended. But while this is the case, the savings banks have more money than they want, because they are limited by State law in their loans upon bond and mortgage to sixty per cent. of their de- posits, and they are constantly compelled to refuse deposits from the simple fact that the money cannot be desirably placed. It is for this reason that the savings banks have an absolute plethora of money, notwithstanding the cry of hard times. The very " hard times" make people more economical and saving, and there is less inclination to use money in active enterprises. When such active enter- prises shall again be generally resumed throughout the country the evil will be remedied. But this is not the place for a dissertation on finance ; our object is to give the history of the different Savings Banks of the city, and we begin with the oldest institution of the kind established in Syracuse.

THE SYRACUSE SAVINGS BANK.

This bank was incorporated March 30, 1849. The original incorporators were Harvey Baldwin, Moses D. Burnet, James Lynch, George Saul, John B. Burnet, Johnson Hall. Harvey Rhoades, Phi- lander W. Phobes, Edward B. Wicks, William W. Teall, Thomas T. Davis, Thomas B. Fitch, Dennis McCarthy, George F. Comstock, Henry Gifford, Thomas Bennet, William Clark and Elias W. Leavenworth. Of these gentlemen many have since died, others have either removed from the city or otherwise dissolved their connection with the bank, and at this time Messrs. Leavenworth, Fitch and McCarthy are the only ones who still remain connected with the enterprise. Upon beginning business the Syracuse Savings Bank had its head- quarters in William W. Teall's law office, on Fay- ette Square. Subsequently it removed to the Townsend Block, and from there to the corner of Church and Salina streets. Works were begun upon the magnificent building now owned by the bank in May, 1875, and the building was completed late in 1876, the aggregate cost being about $300,- 000-probably a little in excess of that amount. Space will not admit of our entering into an elabo- rate description of the building, the style and work- manship of which can only be appreciated by a per- sonal inspection ; suffice it to say that, in point of architectural appearance, elaborateness and beauty of finish, it is not surpassed by any similar structure in the country. It is an ornament to the city and a monument to the frugality of the people and the enterprise of the trustees of the bank, under whose direction the work was carried forward.

From 1849 to 1855, the bank did but a limited business ; the people were not aroused to the full benefits accruing from such an institution ; but in latter years a forward movement was manifested, and from that time on the business has constantly increased. Till 1862, no surplus was acquired, but since that date the surplus has accumulated to $250,000. Below we give a statement of the con- dition of the bank on the ist of July, 1877 :

RESOURCES.

Bonds and Mortgages $1,149,428 20

Stock Investments. 497,137 54

Amount Loaned on Stocks. 220,830 00

Banking House and Lot. at cost. 360,227 17

Amount of other Real Estate

2,665 97

Cash on Deposit in Bank, &c. 104,608 83

Cash on Hand. 34,862 42

Amount of all other Assets 245,135 94

Total

$2,716,149 07

211

HISTORY OF ONONDAGA COUNTY, NEW YORK.

The actual cash transactions of the Syracuse Savings Bank during the six months ending July I, 1877, were $1,871,540. The number of open accounts was 5,965 ; the number of accounts which exceed $5,000 was 30, and the largest amount due any one depositor was $11,700.

The President, General E. W. Leavenworth, is a well-known public man, having been Secretary of State and lately a representative from this district in Congress. He is President of a number of the leading corporations of this city, and his duties, public and private, are of such a character as to demand all his time. To the affairs of the bank he gives his personal attention for a number of hours each day, and in its management is assisted by the Treasurer, Mr. A. F. Lewis, who has been sixteen years connected with the bank, eight years as Treas- urer. Mr. Lewis has won an excellent reputation in the position he has so worthily filled. He was formerly connected with the Canastota Bank, at Canastota, Madison county.

ONONDAGA COUNTY SAVINGS BANK.

A special charter for this bank was granted by the Legislature in 1855. Its design then, as now, was that of a Savings Bank, or an institution in which the large or small savings of individuals might be deposited, and not only be safe but gain an increase for the benefit of the depositors. The principle is one which tends directly to develop economy and frugality in the use of even small sums over and above the actual expenses of living, and thus to aid thousands in the first steps towards a competency, who might otherwise be poor and de- pendent all their days. The amount of good which savings banks have done in this direction cannot be estimated in dollars and cents. This general remark is true of the Onondaga . County Savings Bank. During the twenty-two years of its existence it has been a conservator of the public welfare in more directions than one. The original incorpo- rators of this bank were Allen Munroe, James L. Bagg, Robert G. Wynkoop, George Barnes, Perry Burdick, James Forman, John W. Barker, Daniel P. Wood, William E. Abbott, Harlow W. Chittenden, Isaac H. Bronner, Charles F. Williston, Edward S. Dawson, John Yorkey, Levi W. Hall, Cornelius L. Alvord and John Fitzgerald. These gentlemen had no selfish purpose to serve; their work was a philanthropic one ; and judged by the light of sub- sequent events, they deserve honor for the action then taken.

The first President was Allen Munroe, and the first Treasurer S. H. Slosson. Mr. Munroe re-

mained President till quite recently, when he was succeeded by Daniel P. Wood. Mr. Slosson, as Treasurer, was succeeded by Dudley P. Phelps, and he by Edward S. Dawson, the present Treas- urer, and one of the original incorporators of the bank. Maj .- Gen. D. P. Wood has for many years been a resident of this city. He is a native of Pompey. An attorney by profession, he has also been largely interested in the manufacture of salt here, and in a thousand ways has been identified with the upbuilding of Syracuse. For a number of years he has represented this county and district in the State Senate and House of Assembly, and he was the author of the banking law passed in 1875. He is also Treasurer of the Highland Solar Salt Company, and is carrying on one of the leading burial casket manufactories in the country, located in New York. Mr. Dawson has been Treasurer and ex officio general manager of the bank for the past eight years. He has been a resident of the city for the past thirty-three years ; was formerly a merchant and manufacturer of saddlery hardware, and in his business relations with the community is well known as a gentleman of high standing. His whole time is now occupied with the duties of his onerous and responsible position.

The first business place of the Onondaga County Savings Bank was over No. 16 South Salina street, whence it removed to the Syracuse House Block and remained till taking possession of its new build- ing. This building is one of the finest in the city ; it is of gray Onondaga limestone, a model in archi- tectural design and proportions, and surmounted by a superb clock-tower, which is lighted up gradually by electricity as the darkness of night comes on. This building is not only an ornament to the city and a credit to its architect and builders, but it serves to illustrate what elegant building material is found here at home. The bank is truly a repre- sentative institution of the county. The building and lot cost about $300,000. The condition of the bank financially is shown by the following official statement, made July 1, 1877 :

Bonds and mortgages .. $2,704,209 14

Government and municipal bonds

1,641,423 75

Amount loaned on stocks and bonds 166,231 39

Banking House and lot, at cost . . .

293.823 81

Other real estate, at cost. 44,995 86

Cash on hand and in bank. 64,878 78

Accrued interest 123,287 94

All other assets. 30,617 38

Total resources.

$5,069,468 05

Due depositors

4,649,257 19

Net surplus

$420,210 86

212

HISTORY OF ONONDAGA COUNTY, NEW YORK

The number of open accounts in the Onondaga County Savings Bank July 1, 1877, was about 15,000.

The present officers of the bank are as follows : Daniel P'. Wood, President ; Robert G. Wynkoop, Vice-President ; Charles Franchot, Secretary, and Edward S. Dawson, Treasurer.

Trustees-Archibald C. Powell, Charles F. Wil- liston, James Terwilliger, John J. Crouse, Thomas Molloy, George Barnes, Charles Andrews, Robert G. Wynkoop, John W. Barker, Charles Franchot, James J. Belden, Daniel P'. Wood, William E. Abbott, Rasselas A. Bonta, Francis E. Carroll, and James I .. Bagg.

BIOGRAPHICAL SKETCHES.

HON. DANIEL PRATT.

Daniel Pratt was born in Greenwich, Washington county, N. Y., in 1806. In 1833, he was graduated at Union College, and in the same year moved to Onondaga county, where he read law with David D. Hillis, Esq , at Camillus.

In the fall of 1836, he removed to Syracuse, where he has since resided. He was admitted to the bar in July 1837, with Judge George F. Comstock and Hon. Charles B. Sedgwick and commenced the practice of his profession with David D. Hillis, Esq.

In February, 1843, he was appointed by Gov- ernor Bouck, First Judge of Onondaga county. Four years later he was elected Judge of the Supreme Court and was reelected in 1851. At the close of the term for which he had been reelected, he retired from the bench enjoying the unreserved confidence of the people he had so long served, both as to his unquestioned integrity and his judi- cial ability.

It is said of him that while acting in the capacity of Judge of the Supreme Court, he never in one instance adjourned his court closing the term with- out clearing the calendar of all causes ready for trial. While upon the bench, both Hamilton and Union Colleges conferred upon him the degree of LL. D.,-a fitting tribute to his legal attainments and to his private and public worth.

He resumed the practice of law January ist, 1 860, forming a partnership with the late David J. Mitchell, an advocate of surpassing persuasive powers. Two years later Mr. Wilber M. Brown was admitted to the partnership, and the firm as thus constituted for fifteen years ranked among the first in the State, having an unusually successful and lucrative practice.

Judge Pratt was elected as one of the counsel to

prosecute Judge Barnard in the impeachment of the latter, and the same year received the appoint- ment from Governor Hoffman as one of the Com- missioners to revise the Constitution of the State. In 1873, he was elected Attorney-General, a posi- tion which he filled with distinction and honor.

The mind of Judge Pratt had been thoroughly disciplined in early life by study and reading, and the mental training involved in his classical education and study of law gave him an ultimate mastery of his profession which placed him among the leading jurists of his time.

His genial disposition, strong intellectuality, and direct and positive argumentative powers, strength- ened and enforced by a fund of knowledge always at his command, made him very effective as an advocate, and won for him a large share of popular appreciation. Few public men stand higher in the confidence and esteem of their fellow citizens.

In the year 1838, he married Miss Maria, sister of S. B. Rowe, of Camillus, in which town she was born. To Mr. and Mrs. Pratt were born four sons, viz: William, (drowned while young,) George Comstock, (died young, Charles and Daniel, the latter admitted to the practice of law and in the office with his father.

Mrs. Pratt was a most devoted Christian wife and mother,-a friend of the poor, and foremost in all work for their relief and elevation. She was one of the first who founded the Onondaga Orphan Asylum and Syracuse llome, which to-day bear testimony to her sagacity and disinterested benevolence. She died on the 11th of September, 1872, aged sixty- six years. For more than thirty years she had resided in the city of Syracuse and been for many years a communicant of the First Presbyterian Church.

213

HISTORY OF ONONDAGA COUNTY, NEW YORK.

WILLIAM CRAWFORD RUGER.

This eminent member of the legal profession was born at Bridgewater, Oneida county, N. Y., January 30th, 1824. His father, John Ruger, was a prom- inent lawyer, who practiced his profession at Bridge- water until his removal to Syracuse, in 1847, where he continued in practice until his death, in 1855. William C. attended school at the Bridgewater Academy, a well known institution of learning, where he received a good classical education, and afterwards entered the office of his father as a stu- dent and was regularly admitted to the bar under the old Supreme Court at Utica in July, 1845.

He first opened an office at Bridgewater and practiced at that place until 1853, when he removed to Syracuse and entered into partnership with his father, under the firm name of J. & Wm. C. Ruger. Since that time he has been constantly in active practice at Syracuse, and connected successively with the law firms of Ruger & Lester, Ruger & Jenney, Ruger, Wallace & Jenney, and Ruger, Jenney, Brooks & French. Among the important cases with which he has been connected are the Lindsay murder trial, the litigation arising out of the failure of the People's Safe Deposit and Savings Institution, and the celebrated " canal ring " prose- cutions instituted by Governor Tilden.

Mr. Ruger has always been a Democrat, and frequently represented his district in the councils of his party, among others the famous Hunker conven- tion held at Rome and Syracuse in 1849, the first State Judicial Convention in 1870, the National Con- vention of 1872, and the State Convention of 1877. He has also been twice the candidate of his party for member of Congress, viz : in 1863 and 1865 ; but owing to the ascendency of the Republican party and not from any want of personal merit, he failed of an election.

Upon the organization of the Onondaga County Bar Association in 1875, he became its first Presi- dent, and continued in that office for three years, when he was succeeded by Judge Pratt. He was also elected President of the first State Bar Con - vention, held in this state at Albany in 1876, when the State Bar Association was formed, of which he is now one of the Vice-Presidents. He was also the first President of the social club organized at Syra- cuse in 1864, and known as the Onondaga Club. He was married May 2d, 1860, to Harriet, eldest daughter of Hon. Erastus S. Prosser, of Buffalo, N. Y., and has one child, Crawford Prosser Ruger, born Nov. 8, 1861.

Mr. Ruger holds a most enviable position in his chosen profession. Endowed with natural abilities

of a high order, and possessed of a peculiarly acute and logical mind, he is justly distinguished for ex- tensive learning and sound judgment. With these qualifications as an advocate, his forensic efforts are exceedingly able and effective, while his arguments upon questions of law are remarkable for clearness of expression and for a style of reasoning at once forcible and convincing. Above the use of tricks or artifice, he presents his causes upon their real merits, and his professional conduct is conspicuous for uniform fairness and courtesy. Of fine personal appearance, and with refined and cordial manners, he is a universal favorite among his professional brethren, by whom he is justly regarded as a most able lawyer and genial gentleman.

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History of Onondaga County, New York, Part 45

Author: Clayton, W.W. (W. Woodford) Publication date: 1878 Publisher: Syracuse, N.Y., D. Mason & Co. Number of Pages: 840

Author: Clayton, W.W. (W. Woodford)
Publication date: 1878
Publisher: Syracuse, N.Y., D. Mason & Co.
Number of Pages: 840