Dudley Olcott
President of the Mechanics' and Farmers' Bank of Albany
In office
1880–1919
Preceded byThomas W. Olcott
Succeeded byRobert Olcott
Personal details
Born(1838-09-21)September 21, 1838
Albany, New York
DiedDecember 28, 1919(1919-12-28) (aged 81)
Albany, New York
RelationsFrederic P. Olcott (brother)
Parent(s)Thomas W. Olcott
Caroline Dwight Pepoon
EducationThe Albany Academy
Alma materRensselaer Polytechnic Institute
Signature

Dudley Olcott (September 21, 1838 – December 28, 1919)[1] was an American banker who served as President of the Mechanics' and Farmers' Bank of Albany.

Early life

Olcott was born on February 23, 1841, in Albany, New York. He was the eleventh and last child of Thomas Worth Olcott (1795–1880)[2] and Caroline Dwight (née Pepoon) Olcott (1797–1867). His father served as President of the Mechanics' and Farmers' and the Mechanics' and Farmers' Savings Bank of Albany. Among his siblings was brother Frederic P. Olcott, the 24th New York State Comptroller.[3][4]

He was educated at The Albany Academy,[5] before attending the Rensselaer Polytechnic Institute,[1] where he studied civil engineering.[6]

Career

After graduating from the Rensselaer Polytechnic Institute in 1858, he became an accountant in the Mechanics' and Farmers' Bank of Albany, of which his father had been president since 1836. The younger Olcott became assistant cashier, followed by cashier for thirteen years until he was chosen as vice president of the bank on December 31, 1878.[6] Upon his father's death, he was elected president of the Bank in March 1880.[6] Olcott served as president until his own death in 1919 when he was succeeded as president by his nephew, Robert Olcott (son of his brother Thomas Worth Olcott Jr.).[7]

In 1867, he was appointed Paymaster General by fellow Republican Governor Reuben Fenton, serving until 1869.[1] Olcott also served as president of the Albany Bankers' Association and a trustee of the Central Trust Company of New York.[8] He was a member of the board of governors of the Albany Hospital, trustee of Home for Aged Men, a trustee of Albany Orphan Asylum, and a trustee of the Albany Academy for Girls.[6]

Personal life

Olcott spent his vacation salmon fishing on the Restigouche River in Canada for over thirty years. He died in Albany on December 28, 1919. He was buried at the Albany Rural Cemetery of which he had been president and treasurer of the Albany Cemetery Association.[1]

Although he did not have any children, his brother Frederic named his son, Dudley Olcott II (1874–1946), the prominent banker, after him.[9][10] Dudley Olcott II, a horse trotter,[11][12] also purchased the Herald Square Hotel for over $1,000,000 in 1913.[13]

References

  1. 1 2 3 4 "Dudley Olcott, Albany Banker". The New York Times. Albany, New York (published December 29, 1919). December 28, 1919. p. 9. Retrieved May 12, 2023 – via Newspapers.com.
  2. ↑ "A Veteran Banker Dead". The New York Times. Albany, New York (published March 24, 1880). March 23, 1880. p. 4. Retrieved May 12, 2023 – via Newspapers.com.
  3. ↑ "Frederic P. Olcott, Financier, is Dead. He Was ex-President of the Central Trust Company and Once Controller of the State Death Follows a Shock; He Reorganized Many Tottering Railroads--Flowers and Fast Trotters His Hobbies--Died on His Farm" (PDF). The New York Times. April 16, 1909. p. 9. Retrieved May 12, 2023.
  4. ↑ "Thomas Olcott, 82, Street Car Official; Ex-Secretary and Treasurer of Union Railway Co. Dies". The New York Times. July 20, 1938. p. 19. Retrieved October 20, 2021.
  5. ↑ Rathbone, Albert (1937). Josiah Olcott and Deborah Worth, His Wife: A Record of Their Descendants and Notes Regarding Their Ancestors. Press of B.H. Tyrrel. pp. 39–40. Retrieved October 20, 2021.
  6. 1 2 3 4 Reynolds, Cuyler (1911). Hudson-Mohawk Genealogical and Family Memoirs: Olcott. New York: Lewis Historical Publishing Company. pp. 133–137. Retrieved November 29, 2021.
  7. ↑ "Robert Olcott, 82, Bank Official, Dies; Board Chairman of Mechanics, Farmers in Albany Headed Institution for 26 Years". The New York Times. May 11, 1947. p. 60. Retrieved October 21, 2021.
  8. ↑ Manning, James Hilton (1917). New York volume. B.F. Buck & Company. p. 106. Retrieved November 29, 2021.
  9. ↑ "Dudley Olcott 2d, Long a Banker, 72". The New York Times. June 28, 1946. p. 22. Retrieved October 20, 2021.
  10. ↑ "Syndicate Gets Estate In Locust Valley, L.I. (Published 1946)". The New York Times. September 29, 1946. p. R171. Retrieved October 20, 2021.
  11. ↑ "The Wind-Up at Belmont.; Dudley Olcott Won the 2:23 Class Trot After Seven Heats". The New York Times. Philadelphia, Pennsylvania (published July 8, 1893). July 7, 1893. p. 2. Retrieved May 12, 2023 – via Newspapers.com.
  12. ↑ "Split Heats at Fleetwood.; Eskimo, Dudley Olcott, and Clayhontas Secured the Prizes". The New York Times. September 13, 1894. p. 6. Retrieved May 12, 2023 – via Newspapers.com.
  13. ↑ "The Real Estate Field; Dudley Olcott Buys Herald Square Hotel for Over $1,000,000 -- Forty-second Street Sale -- Big Acreage Purchase at Tompkinsville -- Long Island and New Jersey Deals". The New York Times. May 24, 1913. p. 19. Retrieved May 12, 2023 – via Newspapers.com.
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