Cuyler Reynolds.

Genealogical and family history of southern New York and the Hudson River Valley : a record of the achievements of her people in the making of a commonwealth and the building of a nation (Volume 2) online

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1800, at Newburg, and died October 31,
1854. For many years he was associated
with his father in business and with his
brothers succeeded to the business. For
some time before his death he lived a quiet
and retired life. In 1840 he built a mansion
on Grand street, Newburg, which is still oc-
cupied by his eldest daughter, Mrs. Mead.
The family were members of St. George's
Episcopal Church of which Mr. Reeve was
a vestryman. He married Caroline, daugh-
ter of Stephen Ingersoll, of Dutchess coun-
ty. Mr. and Mrs. Reeve were the parents
of three children : Maria W., mentioned be-
low ; Arianna Somerville and George Henry.
The last named died at the age of twenty

(VII) Maria AV., eldest daughter of
George and Caroline (Ingersoll) Reeve, is
the widow of Obediah Mead of New York
City. Mr. Mead was a member of the firm
of Ralph Mead & Company, importers of
sugar and tea, of New York City.

The Olcotts of Albany, New
OLCOTT York, descend in direct un-
broken male succession from
Thomas Olcott, the immigrant ancestor of
the Connecticut branch of the family, who
was among the first settlers of the town of
Hartford, and one of the founders of the
trade and commerce of the colony of Con-
necticut. He came from England with the
Winthrop Company in 1630. There is rea-
son to believe that he was one of the "good-
ly company" of men, women and children,
who in June, 1635, left Newton and other
settlements in Massachusetts to plant a new
colony in the- Connecticut valley. They
came through the wilderness until they
reached the mouth of the Chicopee river,
near what is now Springfield, and followed
down the banks of the Connecticut to the
s])ot, where in the autumn before the settle-
ment was begun, which is now Hartford,
but then called Suckiange. Mr. Olcott had
been educated in England, was a merchant,
and brought with him the experience and
fruits of successful enterprise. In common
with Edward Hopkins, Richard Lord, \\'i\-



liam Whiting and others he engaged in
trade, for which the Connecticut was sup-
posed to afford great facilities, especially in
the traffic of furs. Mr. Olcott first located
himself on a lot on the east side of the pub-
lic, now State House, square. He subse-
quently became the purchaser of one of the
lots assigned to Edward Hopkins in the
original distribution of the town among the
first settlers. This lot comprised the whole
square, fronting on Main street and bounded
by Pearl, Trumbull and Asylum streets. On
the southeast corner he erected a dwelling
for his own occupation, which continued in
the family for several generations. Thomas
Olcott died in 1654, aged about forty-five
years. His wife, Abigail, died May 26, 1693,
aged seventy-eight years. Children : Thom-
as (2), of wiiom further ; Samuel ; John, bap-
tized Eel)ruary 3, 1639; I'^lizal^elh, Decem-
ber 7, 1643; Hannah.

(H) Thomas (2), son of Thomas (i) and
.Abigail Olcott, was born about 1635. There
seems to be no record of his death. It ap-
pears by the land records of Hartford that
lie lived to advanced age, and until the year
1719. A deed of land from him to his son,
Thomas Olcott (3), is dated February 14,
1719. His wife, Mary, died May 3, 1721, at
\\indsor, Connecticut. Children: i. Abi-
gail, died March 14, 1688, at Springfield,
Mas.sachusetts. 2. Mary. 3. Thomas (3),
of whom further. 4. Samuel, died May 10,
'693- 5- John, drowned May 25, 1685. 6.
Timothy, born 1677. died April 3, 1754: mar-
ried (first) ; married (second) Mary,

widow of F.bcnezer Field, daughter of Ebe-
nezer Dudley, of East Guilford, Connecti-
cut, who died April 20, 1740; married

(third) Elizabeth , died August 29.


inn Thomas (3), son of Thomas (2) and
Mary Olcott, of Hartford, has no record of
birth or death. He married, 1691, Sarah
Footc. of Wethcrsfield, Connecticut, who
died July 24. 1756, in the cighlv-sixth year
«)f her age. Children: i. Abigail, died at
the age of eighteen years. 2. Sarah, born
December 12, iftc)^; married a Mr. Dean of
Plainfielil, Connecticut. 3. Mary. November
21. 1^^/): married a Mr. Stough'ton. 4 Cul-
hck, .April iS, i69(;, died 1732. :;. Nathaniel,
September 11, 1701 ; married Hannah
daughter of Nathaniel Pitkin, of East Hart-

ford. 6. Josiah, March 2, 1703, died Febru-
ary 8, 1785; married, May 15, 1740, Penel-
ope, daughter of Rev. Jonah Beckwith, of
Lyme, Connecticut. 7. Margaret, April 12,
1705; married Richard Ely, of Lyme, Con-
necticut. 8. Hannah, August 4, 1707. 9.
Elizabeth, November 17, 1709; married Col-
onel John Pitkin, of East Hartford, Con-
necticut, brother of Governor William Pit-
kin, and great-grandson of William Pitkin,
one of the first settlers of Hartford. 10. A
child, born 1712, died in infancy. 11. Thom-
as (4), of whom further.

(IV) Thomas (4), son of Thomas (3) and
Sarah (Foote) Olcott, of Hartford, was
born in 1713, died May 3, 1795. He was a
resident of Stratford, Connecticut. He mar-
ried (first) 1736, Sarah, daughter of John
Easton. of Hartford, who died March 30,

1756. He married (second) November 10,

1757, Sarah, widow of Hezekiah Thompson,
of Stratford, Connecticut, and daughter of
Zachariah Tomlinson. She died May 11,
181 1, in the eighty-ninth year of her age.
Children by first wife: i. Josiah, born July
17, 1737, died at age of ten years. 2. Sarah,
August 17, 1742; married Thomas Hawley,
of Stepney. 3. John Easton. July 24. 1749;
married Hannah Sands, of Long Island,
New- York. Children by second wife : 4.
Thomas, born October 3. 1738: married
(first) Mary, daughter of Andrew Thomj)-
son, of New Haven, Connecticut; (second).
March, 1821, Lucy Mitchell. 5. Josiah, of
whom further. 6. Hannah, January 25,
1762; married, about 1780, Beach Judson,
of Stratford, Connecticut. 7. Mary. April
?>• 17'^.V married. March 18, 1784, Captain
Nchemiah Gorham. who served in the revo-
lutionary war. 8. Anna, 1763; married, Au-
gust 30, 1769, Isaac Bronson. of Bridgeport,

(V) Josiah, son of Thomas (4) and Sarah
(Tomlinson-Thompson) Olcott, was born at
Stratford. Connecticut. July 19. 1760. died in
Hudson. New York, January 24. i860, in the
one hundredth year of his age. He was edu-
cated in New England, but settled in Hudson.
Columbia county. New York, then a thriving
city with a large fleet of sea-going vessels,
largely engaged in the whaling industry,
that annually brought to the city many tons
of whalebone and many thousand barrels of
whale oil. In 1785 he engaged in the manu-



facture of cordage with Thomas Jenkins,
built a rope-walk six hundred feet in length,
and did an extensive business in the making
and wholesaling of rope of all kinds and
sizes. After the death of his partner he con-
tinued the business alone. He was a shrewd
and capable business man of energy and di-
rect purpose. The qualities that made his
own life a success were transmitted to his
posterity, as will be seen in the following
generations. His long and useful life ended
in Hudson, and covered a century which
saw the colonies emerge from dependencies
into a great united independent nation. The
second war with Great Britain and the war
with Mexico had terminated and he died
just as the nation was plunging into the
great civil war.

He married Deborah, daughter of Thom-
as and Deborah Worth, of Nantucket,
Massachusetts, June 7, 1794. Children: i.
Thomas Worth, of whom further. 2. Fred-
erick, born January 16, 1797, died March 29,
1816. 3. Ann Maria, November 11, 1798;
married, September 27, 1819, Richard L
Wells, of Coxsackie, New York. 4. Alfred,
died in infancy. 5. Ophelia, February 18,
1803, died October 10, 1839; married, De-
cember 28, 1836, William Henry Folger, of
Hudson, New York. 6. Theodore, May 28,
1805; married (first) May 5, 1834, Eliza
Yates; (second) October i, 1840, Mary
Jenkins. 7. Jane Matilda, March 28, 1906, died
April 9, 1837. 8. Orrin, died in infancy. 9.
Horatio Josiah, January 4, 1810; married,
September 6, 1831, Harriet M. Leonard. 10.
Egbert, October 18, 1812, died May 22, 1873;
married, September 5, 1837, Mary E. L.
White. II. Mary, died in infancy. 12. Car-
oline, twin, December 4, 1818, died March
26, 1885. 13. Cornelia, twin, December 4,
1818, died November 13, 1899.

(VI) Thomas Worth, son of Josiah and
Deborah (W^orth) Olcott, was born in Hud-
son, New York, May 22, 1795, died March
23, 1880, in Albany. He was educated in
the Hvidson schools, and began his long and
successful career in finance as a clerk in the
Columbia Bank of Hudson, where he re-
mained two years. He rapidly grasped the
fundamental principles governing mone-
tary laws. His active mind and cjuick, de-
cisive character made him an unusually
valuable employee, and when the Mechan-

ics' and Farmers' Bank opened its doors for
business, July 29, 181 1, he was one of the
clerical force. On that date began his
remarkable connection with that institution,
a connection lasting nearly seventy years,
the last forty-four years of which were spent
in the president's chair. His rise was rapid.
Six years after the bank opened its doors
for business, he became cashier. Nineteen
years later, in June, 1836, he was elected
president. The Mechanics' and Farmers'
Bank, whose success in a large degree must
be, and is by general consent, credited to
the genius of Thomas Worth Olcott, was
the third bank incorporated in Albany, and
was chartered ostensibly for the benefit of
the mechanics and farmers of Albany coun-
ty. Its charter provided that none but me-
chanics and farmers should be elected as
bank officers, but some years later was
amended so as to authorize the president
and directors without reference to their oc-
cupation or business. It is a noted fact and
one that created considerable discussion and
comment that the entire first board of di-
rectors were Democrats. It had been un-
derstood that two Federalists would have a
place on the board, and they were later sub-
stituted. Thomas W. Olcott was the fifth
president, and at his death he was succeeded
by his son Dudley, who is the present in-
cumbent (1910).

The first period of the bank's history end-
ed by the expiration of charter in 1833. At
the expiration of the second charter in 1853
the bank closed up its affairs, when the
stockholders received one hundred and fif-
teen per cent., besides their stock in the
new bank, which renewed the charter for
twenty years and went into operation again
with the same officers. During the civil
war the hank closed up its affairs and re-
organized in 18^5 under the national bank-
ing laws, having previously operated as a
state bank. In 1868 they again chartered
under state bankingr laws, abandoning tlie
national system. The career of the bank
has been one of unvarying prosperity, ex-
cept only a short period in 1817 when the
capital became impaired, owing to the finan-
cial trouble growing out of depression fol-
lowing the war with Great Britain in 1812-
14. In 1855 the Mechanics' and Farmers'
Savings Bank was incorporated with Thorn-



as W. Olcott as the first president, succeed-
ed in 1880 by his son Dudley.

While Mr. Olcott was eminently the man
of affairs and held a position in the financial
world second to none and was recognized
as a great banker, his obligation to his city
as a citizen did not rest lightly upon him.
He was an active, as well as a leading mem-
ber of the boards of several of the public
charitable and educational associations that
have made Albany famous. His private
benevolences were many and cannot be re-
corded ; his public service can. He was vice-
president of the first board of directors of
.Mbany Law School, organized in 1851, the
fourth' school of its kind in the United
States. In 1833 he was elected president of
the board, continuing until his death in 1880.
He was president of the first board of di-
rectors of Dudley Observatory, a scientific
institution founded through the munificence
of Mrs. Blandina Dudley, widow of Charles
E. Dudley, with the co-operation of leading
citizens of Albany. The observatory prof-
ited greatly through the generosity of Mr.
Olcott and his sons, the latter furnishing the
funds for refitting Olcott Meridian Circle
(named for its donor), housing it in a suit-
able building and remounting it on the new
site. He was president of the Albany Agri-
cultural and Arts Association ; president of
Albany Hospital, in which he took a deep
and lasting interest; trustee and president
of Albany Girls' Academy ; trustee of the
Boys' .Vcademy ; president of Albany Ceme-
tary .Association. In addition to these in-
stitutions, all of which he served faithfully,
giving largely of his rare executive ability
and unerring judgment, his purse was ever
open for all good causes, earning him the
title of the "most charitable man in Albany."
Returning to liis business life he was
president of the Albany & West Stock-
bridge Railroad Company, afterwards merged
into the Boston & Albany system, and later
trustee of the sinking fund commission, ap-
pointed to retire the bonds issued by the
city of Albany to aid in the construction of
the road. The retirement of these bonds
was successfully accomplished under the
guidance of Mr. Olcott, and is still referred
to as the "greatest piece of financiering ever
accomplished in Albany." When Secretary
Chase wH'; perfecting plans for a national

bank system he held frequent interviews
with Mr. Olcott and was largely guided by
his wise counsel. In 1863 he declined a
flattering offer from President Lincoln of
the position of first comptroller of the cur-
rency, and declined all public ofifice except
such as related to the promotion of educa-
tion or other local interest. During his
business life he developed a wonderful qual-
ity of quick, decisive action. Strong in his
opinions, yet he was always open to convic-
tion and ready to accept the views of oth-
ers. His ability to judge human nature and
read men was another marked quality. His
courage was another attribute that rendered
him conspicuous; nothing daunted him. and
failure was a word with which he was un-
acquainted. He was identified with the
Christian life of Albany as member and
trustee of the Second Presbyterian Church.
His political life was inconspicuous. In
early life and up to i860 he was a Democrat ;
then for the remainder of his life a Repub-
lican. He W'as strongly Union in his senti-
ments, and served on the committee having
in charge the recruiting and equipping of
the One Hundred and Thirteenth New
York Regiment (Seventh Regiment, New
York \'olunteer Artillery). His only other
public ofifices that can be construed as politi-
cal were his position as bridge commissioner
to select the site of the lower bridge across
the Hudson at South Ferry street, and his
appointment to the state board of regents.
His home in Albany was in the midst of a
plot of about three acres of ground and
there he gratified his love for flowers and
plants to the fullest extent and spent his
hours of leisure in their cultivation. He was
quiet, unostentatious and domestic in his
tastes and habits, giving little evidence of
being the wealthy and distinguished finan-
cier. He died at his home in Albany in his
eighty-fifth year, continuing his active busi-
ness life until his last illness.

He married Caroline, daughter of Daniel
Pepoon, of Pittsfield, Massachusetts, .Xu-
gust 17, 1818. She died March 12, 1867.
Children: i. Frederick Worth, born Au-
•gust 10, 1820, died November 2, 1822. 2.
Thomas, December 31, 182 1, died August
27, 1873: married (first) April 3. 1844. Lucia
Marvin Fowler, who died .August 25. 1S30;
(second) October 5, 1853. Harriet M. Leon-



ard, who died January 13, 1861 ; (third) Feb-
ruary 19, 1863, Emma McCHve. 3. John
Josiah, March 11, 1823, died April 10, 1899.

4. Robert, July 26, 1824, died May 10, 1859.

5. Mary Marvin, April 11, 1826, died April
25, 1892. 6. Theodore, May i, 1828, died
February 27, 1907; married October 2, 1856,
Ann Hazleton Maynard. 7. Alexander, Au-
gust 10, 1829, died April 21, 1887; married,
May 21, 1856, Catherine Amanda Mallory.

8. Grace, April 5, 1834, died August 7, 1834.

9. Dudley, died in infancy. 10. Dudley, of
whom further. 11. Frederick Pepoon, of
whom further.

(VII) Dudley, son of Thomas Worth and
Caroline (Pepoon) Olcott, was born in Al-
bany, New York, September 21, 1838. He
was educated in the Albany Boys' Acad-
emy, and afterwards attended the Rensse-
laer Polytechnic Institute in Troy, where
he took a course in civil engineering. In
1858 he became connected with the Mechan-
ics' and Farmers' Savings Bank of Alljany,
as accountant. This position he held for
seven years, when he became assistant cash-
iei' of the Mechanics' and Farmers' Bank,
and later cashier. For thirteen years he
was cashier of this bank, until December
31, 1878, when he was chosen vice-president
dent. In March, 1880, he was elected presi-
dent, succeeding his father. Under his wise
and able management the bank has contin-
ued its successful life, and is one of the
strong, conservative financial institutions of
the state. He is thoroughly versed in the
laws governing finance, is devoted to the
institution over which he presides, and is
recognized everywhere as one of the clear-
est-headed and ablest financiers of the state.
He was at one time president of the Albany
Bankers' Association, and represented the
Mechanics' and Farmers' Bank in the lead-
ing bank associations of the country. In
1861 he toured Europe, since which time his
service has been continuous, saving only his
annual summer vacation, which is spent in
Canada. The connection of the Olcotts, fa-
ther and son, now covers the period of a
full century, 1811-1911. Seventy-five of
these years have seen them occupying the
president's chair. This is both a wonderful
and unusual record, and probably un-
equalled in point of continuous ser\'ice.

Mr. Olcott has no outside business in-

terests, although he is devoted to the wel-
fare of many of the leading public institu-
tions of Albany. He is a member of the
board of governors of the Albany Hospital,
president of the Albany Cemetery Associa-
tion, trustee of the Home for Aged Men,
trustee of the Albany Orphan Asylum, trus-
tee of the Albany Academy for Girls, and
aids other good causes by his influence and
liberality. He served his state one term as
paymaster-general, appointed by Governor
Fenton in 1867. He served the city of Al-
bany as park commissioner, was treasurer
and later president of the commission dur-
ing its entire existence. Politically he is a
Republican, but his devotion to business pre-
cludes all idea of public atTairs. He is a
member of the Fort Orange and Country
clubs, Albany, and of the Metropolitan Un-
ion League and Down Town clubs, of New
York City. He is fond of the solitude of
the great woods, and for the past thirty-one
years has spent each summer vacation at
Restigouche river, Canada, where his favor-
ite sport, salmon fishing, is his daily occu-
pation. Mr. Olcott's home is the old fam-
ily mansion in Albany, in the midst of the
beauties created and loved by his father,
which he perpetuates and continues in lov-
ing remembrance. He is unmarried.

(\TI) Frederick Pepoon, son of Thomas
Worth and Caroline (Pepoon) Olcott, was
Ijorn in Albany, New York, February 23,
1841, and died at his home, "Round Top,"
near Bernardsville, New Jersey, April 15,
1909. Upon graduation from the Albany
Academy he entered the bank of which his
father was president and there secured the
training and knowledge in financial matters
which characterized his business career, and
placed him in the highest rank of modern
conservative financial men. For a time he
was engaged in the lumber business, also a
partner with Blake Brothers & Company,
liankers and brokers. In 1882 he accepted
the nomination and was elected comptroller
of the state of New York, which position
he occupied for a term of two years. In
1884 he declined the Democratic nomination
for governor, and accepted the presidency
of the Central Trust Company, of New
York City, where he remained until 1905 ;
retiring in that year on account of ill-health
to his favorite residence and farm, "Round



'lop," Bernardsville, New Jersey. In addi-
tion to his connection with the Central
Trust Company Mr. Olcott was president
oi the Galveston, Houston & Henderson
railroad, a director of the Delaware, Lacka-
wanna & Western railroad and other rail-
roads, of the Bank of America, and of the
iMorristown Trust Company of New Jer-

Personally Mr. Olcott was known as a
man of broad, philanthropic tendencies, tak-
ing personal interest in the political and
social welfare of the community, and ever
ready to assist those less successful in the
battle of life. A few years before his death
he provided an endowment of fifty thou-
sand dollars for the Albany Academy. He
was greatly interested in horticulture, and
his gardens were famous for the production
of choice plants and rare flowers. He was
also a breeder of trottinsj horses. Mr. Ol-
cott was a member of the Union League,
New York Yacht, Metropolitan, Manhattan
and Down Town clubs, of New York, and
of the Morristown Club.

Mr. Olcott married Mary Esmay, by
whom he is survived, together with chil-
dren: Diftlley, of whom further; and one

(VHI) Dudley (2), son of Frederick P.
and Mary (Esmay) Olcott, was born in
New York City, May 14, 1874. He was edu-
cated in his place of birth, and his business
career has been conducted in connection
witii the Central Trust Company. He now
resides in Morristown, New Jersey. Mr.
Olcott has taken membership in the follow-
ing clubs : Metropolitan, Tuxedo, Morris
County Golf, New York Athletic, Morris-
tnwn, Whippany River, Automobile of
America, and Grolier.

He married, at Bernardsville, New Jer-
sey, August 18, 1903, Sarah Crozer L. Le-
vick, born at Philadelphia. March 10, 1875,
daughter of Thomas Bowin and Elizabeth
Shippen Buckley (Grubb) Levick. Chil-
dren of Dudley (2) Olcott: Gladys Grubb,
horn at New York City, December 29, 1905 ;
Jeanette Grubb. Morristown, New Jersey.
May 7,0, 1907.

This old Dutch name
\'AN DEUSEN is derived from a ham-
let of about five hun-

dred people in Noord Brabant or North Bra-
bant, Holland, called Deursen. The immi-
grant ancestor of the family came from
Deurse, the "Van" being used in the ordi-
nary sense of "from," indicating that the
immigrant ancestor or the original ancestor
who first bore the surname that became
hereditary to his descendants came from
that place. It was thus that the surname
arose, as is the case in a great number of
Dutch surnames in this country. Previous
to arrival in America the Dutchman was
usually designated by the baptismal name
of his father with the affi.x "sen"' attached,
and it was a universal custom for one hun-
dred and fifty years to use the father's name
as a middle name among the Dutch fami-
lies. This usage has made it possible to
trace many lines that would otherwise be

(I) Matthew or Teuwis Abrahamse Van
Deusen, immigrant ancestor of the Van
Deusen family, was born in Holland, and
was one of five brothers, sons of Abraham
\'an Deusen, who came to America about
the middle of the seventeenth century. The
names of the five sons of Abraham Van
Deusen were : Lsaac, Melchert, Matthew,
Jacob, Peter. Matthew resided in the vil-
lage of Beverwyck (Albany) in 1659, and
he was the owner of a lot there from 1656
to 1667. This lot had a frontage of thirty-
five feet on Broadway, extending back to
James street. December, 1677, I^aulus .Mar-
tense Van Benthuysen conveyed by deed
to Harme Janse Lyndrayer the same prop-
erty in Rensselaerwyck formerly conveyed
to him by Mattheus Abrahamse Van Deu-
sen. by deed declared June 26. 1677. This
property was situated in the city of Albany
on the west side of and fronting on Broad-
way, north of Maiden Lane, extending back
to that street and lying between Maiden
Lane and Steuben street. At a sale in
Albany, July 5. 1664, he purchased a cow
for one hundred and eighteen florins. For
the payment of this sum Cornells Teunisse
Bos went his surety and principal, and Mat-
thew on his part pledged himself as surety
for Cornelius Bos on the same day for the
payment of one hundred and twelve florins
for the purchase of the running works of a
horse mill. Matthew was still living in Al-
bany in 1700, and no record of his death

Online LibraryCuyler ReynoldsGenealogical and family history of southern New York and the Hudson River Valley : a record of the achievements of her people in the making of a commonwealth and the building of a nation (Volume 2) → online text (page 22 of 95)