USA > New York > Orange County > Newburgh > Newburgh; her institutions, industries and leading citizens, historical, descriptive and biographical > Part 34
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November 8, 1860. He was educated in the public schools of the city, graduating from the Academy in June, 1876. He studied law with Cassedy & Brown, and was admitted to the bar May 12, 1882. In July, 1886, he formed a partnership with A. H. F. Seeger, which con- tinued two years. Mr. McCroskery was elected to his present posi- tion in March, 1890, for the term of four years. He married Margaret R., daughter of Isaac L. Corwin, of Newburgh.
W. F. CASSEDY was born October 4, 1862. In 1880, after grad- uating from the Newburgh Academy, he entered Cornell University, from which he was graduated in June, 1884. Mr. Cassedy then enter- ed the law office of his father, Hon. A. S. Cassedy, and in 1886 was admitted to the bar. In 1887 he entered into partnership with his father in the law firm of A. S. & W. F. Cassedy. He was married in January, 1888, to Miss Townsend, daughter of James A. Townsend, of Newburgh.
FINANCIAL INSTITUTIONS.
THE HIGHLAND NATIONAL BANK.
HE Highland Bank was chartered April 26, 1834. The capital named was $200,000. In a few weeks nearly double the capital required was subscribed, and there- fore a pro rata distribution of the stock was made. The bank was organized July 21, and General Gilbert O. 6 Fowler was elected President, and James Belknap, Cashier. January 1, 1865, the capital was increased to $350,000 ($100,000 surplus and $50,000 new stock), and in April fol- lowing the bank was reorganized as a National Bank with a capital of $450,000. In 1888 the capital was reduced to $300,000.
From its inception the bank has retained the confidence of the pub- lic in a notable degree, all its movements being marked by prudence, caution and honorable business methods. The statement at the close of business October 3, 1891, showed that its capital was $300,000; surplus, $60,000; undivided profits, $32,825.00; deposits, $441,535.00; resources, $896,468.00.
The officers of the bank have been as follows: President-Gilbert O. Fowler, 1834-43; George Cornwell, 1843-67; Alfred Post, 1867-82. Cashier-James Belknap, Thomas C. Ring, Robert Burnett, 1838-40; Alfred Post, 1840-67; M. C. Belknap, 1867-83. The present officers are: President-M. C. Belknap; Vice-President, Augustus Denniston; Cashier-Arthur Wilson; Directors-M. C. Belknap, Henry D. Fow- ler, Smith Ely, Augustus Denniston, James T. Lawson, Alfred Bridgeman, Daniel S. Waring, Charles H. Mead, Edgar C. Barnes, Lewis M. Smith and Michael H. Hirschberg.
ALFRED POST was born iu 1811, in the Town of Warwick, Orange County, and at the early age of fourteen came to Newburgh, to accept the position of clerk in the well known house of D. Craw- ford & Co., the proprietors of a freighting line between Newburgh and New York. Here he remained eleven years, rendering such acceptable service that during the last three years of his connection with this house, he was a member of the firm.
In 1836 Mr. Post left Crawford & Co., and joined the house of T. Powell & Co., which was engaged in a similar business. Three years later he was appointed Teller of the Highland Bank, about five years after the bank charter was issued, and he remained with that
institution until his death in 1882, a period of about forty-three years, being successively Teller, Cashier and President.
ALFRED POST.
The name of Alfred Post is, therefore, associated with the greater portion of the history of Newburgh during the present century. He
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came to it when it was but a small village, and when its only outlet was the river that flowed past its door, and lived to see it a flourish- ing city provided with numerous railroads.
Mr. Post was a broad, liberal-minded, public-spirited man, who always took great interest in the progress and welfare of the city, and his name is connected with many of the successful steps in its advancement. He gave considerable attention to the formation of social and literary organizations, and was one of the founders of the Newburgh Library Association, which preceded the present City
HIGHLAND NATIONAL BANK.
HIGHLAND NATIONAL BANK-22 Water Street.
Library. He also took an active part in establishing the Home for the Friendless, and other institutions of a similar character. During the War of the Rebellion Mr. Post was a staunch supporter of the Government, and devoted much of his time and attention to raising and equipping the regiments sent in its defence from this section of the country. Ile became a member of the Vestry of St. George's Episcopal Church, April 10, 1855, continuing as such up to the time of his death.
MOSES COOK BELKNAP, President of the Highland Na- tional Bank. In 1637 Abraham Belknap, from whom the branch of the Belknap family in this country trace their descent, em- igrated from England and settled in Lynn, Mass. In 1749 Samuel Belknap, the immediate ancestor of the principal part of the family in this town, came to Newburgh from Woburn, Mass., and purchased a large tract of land. Moses Cook Belknap is the son of Moses H. and Ruth (Cook) Belknap, and was born in Newburgh, February 2, 1832. His father was a member of the Board of Trustees of the village, and for nine years president of that body; he was one of the founders of the Newburgh High School, and held other local positions with credit.
Moses Cook Belknap was educated in public and private schools of the village, and was graduated from the Academy, then a private school in charge of the Rev. B. R. Hall, April, 1850. He intended to take a collegiate course, but a situation being offered him in the Highland Bank, he entered that institution as a discount clerk April 22, 1850, and was subsequently promoted to the position of book- keeper and teller in it, and its successor, the Highland National Bank,
PHOTO, BY WHIDDIT.
MOSES C. BELKNAP.
until November 18, 1867, when he was appointed cashier. January 9, 1883, he was elected President, and has remained ever since in that position. After the death of his father in January, 1855, he formed a co-partnership with Thomas M. McCann, under the style of Belknap & McCann, to continue the business of manufacturing soap and candles, which had been established by his grandfather, Abel Belknap, about the year 1800, and subsequently carried on by A. & M. H. Bel- knap until their death, which occurred in October, 1854, and January, 1855. He, however, continued to give his principal attention to the banking business, his partner attending to the manufacturing and selling department, Mr. Belknap managing the finances of the concern.
On June 16, 1857, Mr. Belknap was married to Mary H., daughter of William K. Mailler, of Newburgh, who died in less than a year thereafter. May 13, 1862, he married Marietta, daughter of David McCamly, of Warwick, N. Y., who died November 27, 1873, leaving
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three sons and one danghter. September 15, 1875, he married his present wife, Evelina, daughter of Dr. Nathaniel Deyo, of New- burgh, by whom he has had three children, two of whom, a son and a daughter, are now living.
Mr. Belknap has long been prominently identified with the First Presbyterian Church of this city, having been elected clerk and treasurer of its Board of Trustees in Feb., 1855, which offices he has held continuously ever since. He has been for many years a member of the Session of said church, and Superintendent of the Sabbath school. Angust 7, 1877, he was appointed by Mayor McCroskery an Alderman from the Third Ward, to fill a vacancy occasioned by the resignation of John C. Adams. He filled this office for the remainder of the term ending in March, 1878.
March 4, 1884, Mr. Belknap was elected a member of the Board of Education of the city, and was chosen vice-president by the Board. March 9, 1887, he was chosen its president, and has continned in that office up to the present time. He was re- elected member of the Board March, 1888, for term expiring 1892.
He was one of the founders of the first Young Men's Christian Association of this place, and has always been con- nected with the present association since the reorganization. He has served as secretary and treasurer of the Edison Electric Illuminating Co. since its organization; also as treasurer of the Newburgh Cemetery Association.
ARTHUR WILSON, Cashier of the Highland Bank, has been a resident of Newburgh since he was five years of age, having been born at Matteawan, Dutchess County, N. Y. He finished his school days in the "Old Academy," under William N. Reid and William L. Chapman, having received a good education in the ordinary branches with the addition of Latin, Greek, French, Spanish and higher mathematics. In 1860 he entered the Highland Bank as letter clerk, where he successively occupied the different desks until 1883, when he was appointed its
cashier, which po- sition he still ocen- pies.
He has always been prominent and much interest- ed in musical mat- ters, having been for years leader of the excellent quar- tette choir of St. George's Episcopal Church; and was Chairman of the Music Committee of Newburgh's great Centennial celebration in 1883, at which time he organized and took charge of a chorus of one thousand singers. He was for many years an earnest Sunday school worker, and was one of the ARTHUR WILSON. prime movers of the St. George's Mission (now Church of the Good Shepherd) on Broadway. In 1884 he started a new era in the style of dwelling-house architecture in this city, by having the brick residence, No. 162 Grand Street, built. After occupying this for three years, he sold it to Lewis M. Smith,
and in 1889 erected on a plot of about three acres sloping to the river, immediately north of the city, the handsome dwelling in which he now resides.
QUASSAICK NATIONAL BANK.
On Thursday evening, September 4, 1851, a meeting of citizens was held at the Orange Hotel to consider the subject of organizing
RESIDENCE OF ARTHUR WILSON-Grand Avenue.
another bank. David Crawford was chosen chairman of the meeting, and O. M. Smith secretary. After addresses by William Fullerton, Samnel W. Eager, Thornton M. Niven, and others, a committee was appointed to name suitable persons for directors, and suggest a title for the institution. On the report of this committee a board of direc- tors was nominated, and " The Quassaick Bank " adopted as the title. March 31, 1852, the bank was organized, and soon after began busi- ness with a capital of $130,000.
The first officers were E. W. Farrington, President; Jonathan N. Weed, Cashier; W. H. Gerard, Teller. Directors-E. W. Farrington, J. I. Crawford, I. R. Carpenter, Asa Sterling, Isaiah Townsend, Charles U. Cushman, John Jamison, William K. Mailler, James Pat- ton and John J. Monell.
On the 6th of July, 1852, a resolution was passed by the board of directors, increasing the capital stock to $200,000, and on June 29 1853, it was again increased to $300,000, at which point it has remained ever since. On the 3d of June, 1865, it commenced doing business as a National bank. Mr. Farrington served as president until he was succeeded, in May, 1862, by D. Gillis Leonard. Mr. Leonard served two years as president, and was elected for a third term, but his death a few weeks after his election made a vacancy, which was filled in the September following by the election of O. S. Hathaway. Mr Hathaway filled that position until his resignation, March 6, 1876. He was succeeded by Isaac K. Oakley, who served till his death, September 6, 1885, when Charles H. Hasbrouck was elected to the office.
Mr. Weed has filled the office of cashier since the organization of the bank, and James N. Dickey has been teller since 1863.
The bank receives deposits subject to check at sight, makes col- lections on all available points in the United States and Canada, dis- counts commercial paper, buys and sells United States and other first class bonds, and engages in all transactions pertaining to a general banking business.
Its public statement made at the close of business July 9, 1891, shows a capital of $300,000 ; surplus, $60,000 ; undivided profits,
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$73,690.13; deposits, $555,418.38 ; resources, $1,326,813.63. The present officers are Charles H. Hasbrouck, President; J. N. Weed, Cashier; Charles H. Hasbrouck, William O. Mailler, (vice-President), Abram S. Cassedy, Leander Clark, jr., John Dales, John E. Lawson, Sam-
QUASSAICK NATIONAL BANK
QUASSAICK NATIONAL BANK-71 Water Street.
uel C. Mills, Henry McCann, George H, Ross, Thomas H. Skidmore and Alexander Young, Directors. Mr. Hasbrouck, the president, was for many years a dry goods merchant in Newburgh.
JONATHAN N. WEED, Cashier of the Quassaick Bank, was born November 20, 1825, in the Town of Newburgh, near Orange Lake, where his ancestors had resided many years. His parents were David and Deborah (Noyes) Weed. His mother was a sister of Aaron Noyes, who was prominent in the early history of the Vil- lage of Newburgh, and had a brickyard on the site now occupied by the West Shore Railroad freight depot. When Jonathan was less than two years old his father died, leaving his mother with the sole care of seven children. In 1833 the family. removed to Bay View. four miles north of the city, on the river shore. There Jonathan attended the Middlehope district school in the Winter, and in the Summer (after his tenth year) worked on his uncle Silas Gardner's brickyard. Ten years were spent in that way. The business he mastered thoroughly, and at length he exercised an oversight of the
yard. In the Winter of 1844-45 he was a student at Amenia Sem- inary, where his schooldays ended.
In 1845 he was offered a place in the Highland Bank. To a boy from a brickyard it was an unexpected opening, and came about in this wise: Mr. Weed had been asked by his uncle, Mr. Gardner, to make a canvass of the voters in the village for a political purpose, and while so engaged he attracted the attention of an officer of the bank, who perceived in the boy the making of a good bank-clerk. Mr. Weed had risen to the position of Teller when he left the High- land Bank, in 1852, to accept the position of Cashier in the Quassaick Bank at its organization. With that institution he has ever since remained in the same capacity, and is the only one left of those who were at the first connected with it.
To the responsibilities of this important position he has added the duties of various other relations in life. Numerous trusts have been confided to him, and all of them he has discharged with the consci- entions faithfulness and tireless energy characteristic of the man. There is a maxim that "if you want a thing done, go to the busiest man." Whether acting on this principle or not, it is certain that individuais, corporations and societies have been coming to Mr. Weed all his business life in quest of assistance. His first avocation after taking up his residence here was with the Mechanics' Library Asso- ciation; he was an officer therein many years, and until its termina- tion. During the second year of the Newburgh and Ellenville Plank Road Company he was elected Secretary, succeeding Thornton M. Niven, and in 1857 a Director; on the death of E. W. Farrington, he was elected Treasurer, so that he performed the duties of three offices until, after forty years, the company surrendered its title to the road
PHOTO, BY WHIDDIT.
JONATHAN N. WEED.
and closed up its affairs. In 1866 he acted as Assistant Treasurer of a company formed to build a railroad from Newburgh to Middletown; and in 1868 he filled a similar position at the inception of the Dutchess and Columbia Railroad. Of the Board of Trade he has been Treas- urer since its organization; and at its re-organization he proposed the financial measures and secured the means which made possible the continuance of its work.
NEWBURGH.
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While Trinity M. E. Church used the old house of worship in Second Street Mr. Weed was elected a trustee and treasurer of the church, and librarian of the Sabbath school. His labors for the up- building of that congregation were of the most valuable and self- sacrificing nature. He gave of his own means, and begged the aid of others, till the noble edifice which Trinity now owns was reared and cleared of debt. With the benevolent work of the Home for the Friendless he has been associated as a member of the Board of Coun- selors and of the committee on funds for many years. He has also been recording secretary and a manager of the Bible Society, and a member and the only treasurer of the Historical Society of Newburgh Bay and the Highlands. He was treasurer of the Newburgh Gas- light Company from 1864 to 1881, at which date the property was pur- chased by the Consumers' Gas Company, and he now acts as one of the trustees for the mortgage and bond-holders of the latter com- pany.
In former years Mr. Weed had more to do with public affairs than recently. During the infancy of the city corporation, when its sys- tem of public works was in a formative state, and when the best ability the city could command was put into municipal service, Mr. Weed was two years in the Common Council, and was chairman of a number of its important committees. The opening of South Street, the building of trunk sewers, and the grading of the streets in the western part of the city were some of the events of that period, and, under the existing conditions, formidable undertakings, in all of which Mr. Weed had a creditable part. He also devised and put in operation the system of accounts in the Collector's office. This work he did as chairman of a committee appointed for the purpose. He opposed an effort that was made to bond the city heavily for railroad purposes. In 1872 he placed for the city $60,000 of water bonds at 5 per cent. premium, when theretofore such securities had been sold at par. Mr. Weed did not enter public life again till 1891, when he was elected by the Republican party to the office of City Treasurer, which he now fills.
Many other services could be related, but we have sufficiently out- lined the life of this man to show the measure of his usefulness in the community. For nearly forty years he has been the mainspring of a banking institution which has acquired a strong hold on the confidence and affections of the people; and, though concerning himself in every detail of its work, he has found time to perform those numberless other services. For relaxation from business cares he has pleasure in geological, meteorological and astronomical study and observations.
Mr. Weed married, in 1851, Elizabeth M. Goodsell, daughter of John Goodsell, who taught the old Glebe school. She was long a manager and the treasurer of the Home for the Friendless, and also prominent in church work. She died January 5, 1890, leaving Charles G., bookkeeper in the Quassaick Bank; Frank and Ella. The latter succeeded her mother as treasurer of the Home for the Friendless. She is also connected with a girls' school on Fifth Avenue, New York, and is a trustee of Barnard College.
THE NATIONAL BANK OF NEWBURGH.
John J. S. McCroskery, President; Charles J. Lawson, Vice- President; Charles L. C. Kerr, Cashier. This bank is the successor of the Bank of Newburgh, which was first incorporated March 22, 1811. The capital of the first bank was $120,000, in shares of $50 each. The State reserved the right to subscribe to the stock any amount not exceeding one thousand shares. On June 15, 1811, the corner- stone of the present bank building was laid, and on September 9 the bank was opened for business. The first president was Isaac Bel- knap. jr., and the first cashier John S. Hunn. In February, 1820, a branch bank was opened at Ithaca, N. Y., and continued to 1830, when, on expiration of the old charter, it was discontinued. The Bank of Newburgh was then reorganized under the Safety Fund law, with a capital of $140,000. It 1851 it was again reorganized under the general banking law, with a capital of $200,000, which, the following year, was increased to $300,000.
On July 3, 1864, the Bank of Newburgh passed out of existence. Its capital of $300,000 with the addition of 60 per cent. profits was
divided among the stockholders. A remarkable fact in this connec- tion was that the bank did not lose a dollar in settling up its affairs: all the money owing to the bank was paid.
The National Bank of Newburgh began business July 5, 1864, under the following Board of Directors: George W. Kerr, J. DeWitt Walsh, W. L. F. Warren, James Bigler, R. A. Forsyth, Jirah Stearns, A. F. Scofield, E. A. Brewster and George W. Townsend. President -George W. Kerr; Cashier-John J. S. McCroskery. The capital of the new bank was $800,000, which was promptly taken by its old stockholders and other citizens of the town. June 3, 1890, the stock- holders voted to reduce the capital to $400,000. Accordingly $400,000
OF NEWDURCH
THE NATIONAL BANK OF NEWBURGH-105 Water Street.
of the capital, with the addition of 40 per cent. as profits, was divided among the stockholders.
This bank has always conducted a safe and conservative business, and by just and honorable conduct toward its customers it has ad- vanced their interests and welfare in common with its own, and to-day is recognized as one of the most vigorous exponents of the soundest principles governing banking and finance. It does a general banking business, loaning money on first class security, discounting approved paper, issuing exchange on the leading cities of this country and Europe, and carrying the accounts of its patrons. Its last state- ment, made at the close of business July 9; 1891, showed its capital stock to be $400,000; its surplus, $80,000; undivided profits, $80,126.28; deposits, $510,614.61, and its resources $1, 514,585. 14.
The officers of this bank and its predecessor have been as follows: President-Isaac Belknap, Jr., 1811-27; William Walsh, 1827-39; John Chambers, 1839-54; George W. Kerr, 1854-90. Cashiers-John S. Hunn, Frederick W. Farnum, William M. Vermilyea, Levi Dodge, George W. Kerr, 1836-54; Francis Scott, 1854-64; John J. S. McCros- kery, 1864-90. Its present officers are John J. S. McCroskery, Presi-
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NEWBURGH.
dent: Charles J. Lawson, Vice-President; Charles L. C. Kerr, Cash- ier; George Weller, Howard Thornton, Isaac C. Chapman, Michael Doyle, Eugene A. Brewster, Charles J. Lawson, John J. S. McCros- kery, Robert Whitchill and James Chadwick, Directors.
GEORGE W. KERR was born in Warren County, New Jersey, February 15, 1810. His ancestors were originally from Scotland, but Mr. Kerr's father was born at Freehold, New Jersey. His parents removed to Ithaca, New York, where he obtained a position in the branch of the Bank of Newburgh. In 1830, when the branch was withdrawn, and the Bank of Ithaca established, Mr. Kerr entered the new bank and remained tliere until October, 1831, when a position was offered him in the Bank of Newburgh, with the officials of which he had become acquainted through his connection with the branch bank.
In 1836 Mr. Kerr was promoted to the position of cashier, and in 1854 he was elected president to fill the vacancy caused by the death
M-N-Co
PHOTO. BY ATKINSON.
GEORGE W. KERR.
of John Chambers. In 1864, when the old bank of Newburgh was closed and the National Bank of Newburgh organized, Mr. Kerr was again honored with the presidency. He continued in that position till his death, having been cashier of the bank for eighteen years, and president for thirty-seven years. Mr. Kerr died June 3, 1890.
Mr. Kerr was a trustee and vice-president of the village in 1856, and a member of the Board of Education in 1852-54. For forty-seven years he was a vestryman of St. George's Protestant Episcopal Church, and for thirty-one years treasurer of the board.
Upon his death the Directors of the bank adopted the following minute: " His sound judgment, perfect integrity and eminent abil- ity have been long recognized in financial circles, and his excellence in all the relations of life will long be remembered in this community. By us, his immediate associates, and by all in any capacity attached to this bank, his memory will always be cherished. He has left to his family and this community, where he has spent so many years of a long and useful life, a legacy better than earthly riches-a good name."
The vestry of St. George's Church adopted resolutions recording. " their very high esteem for his character and his lifelong devotion to the church and her interests. It is with grateful feeling that we re- member the steady consistency of his Christian walk, his uprightness as a business man, his value as a citizen, his zeal as a churchman. We owe him no slight debt for his faithful service as our treasurer for thirty-one years, during which time his unflagging attention to the affairs of the parish has contributed essentially and in a large degree to its stability and prosperity."
Mr. Kerr was twice married. His first wife was Emeline Ross; his second, Margaret Brown, daughter of the Rev. John Brown, D. D.
JOHN J. S. McCROSKERY was born in Newburgh, February 14, 1834. He received an academic education, graduating at the Newburgh Academy in 1848. In 1850 he entered the dry goods store of George Cornwell & Son as a clerk, where he remained until Feb- ruary, 1853. He then became a clerk in the Bank of Newburgh, where he has been ever since. In 1854, when it became a National Bank, he was made its cashier, which position he filled until 1890, when, upon the death of George W. Kerr, Mr. McCroskery was elected president. He has been quite a prominent member of the fire department, and in addition to serving as a company member, has also officiated as first and second assistant chief engineer. He was elected village collector in 1857. In 1869 he was elected alderman of the Third Ward, and in 1871 he was re-elected to that position. In 1875 he was elected mayor of this city, for the vacancy caused by the death of Hon. C. M. Leonard, and in the Spring of 1876 he was re- elected for a full term. For many years he has been treasurer of the Newburgh Bible Society. He has been a trustee of Union Church for about thirty-four years, and for the past twenty-six years has been superintendent of the Union Church Sunday school, both of which positions he yet honorably fills.
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