Dudley Olcott (September 21, 1838 – December 28, 1919) 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 Albany ( ) is the List of capitals in the United States, capital city of the U.S. state of New York (state), New York. It is located on the west bank of the Hudson River, about south of its confluence with the Mohawk River. Albany is the oldes ...

. He was the eleventh and last child of Thomas Worth Olcott (1795–1880) and Caroline Dwight ( 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 The New York state comptroller is an elected constitutional officer of the U.S. state of New York and head of the New York state government's Department of Audit and Control. Sixty-one individuals have held the office of State Comptroller si ...

. He was educated at

The Albany Academy Albany Academy is an independent college preparatory day school in Albany, New York. It enrolls students from Prekindergaten (age 4) to Grade 12. It was established in 1813 by a charter signed by Mayor Philip Schuyler Van Rensselaer and the cit ...

, before attending the

Rensselaer Polytechnic Institute Rensselaer Polytechnic Institute (; RPI) is a private university, private research university in Troy, New York, United States. It is the oldest technological university in the English-speaking world and the Western Hemisphere. It was establishe ...

, where he studied

civil engineering Civil engineering is a regulation and licensure in engineering, professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads ...

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. Upon his father's death, he was elected president of the Bank in March 1880. Olcott served as president until his own death in 1919 when he was succeeded as president by his nephew,

Robert Olcott The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' () "fame, glory, honour, praise, reno ...

(son of his brother Thomas Worth Olcott Jr.). In 1867, he was appointed Paymaster General by fellow Republican governor

Reuben Fenton Reuben Eaton Fenton (July 4, 1819August 25, 1885) was an American merchant and politician from New York. In the mid-19th century, he served as a U.S. Representative, a U.S. Senator, and as Governor of New York. Early life Fenton was born nea ...

, serving until 1869. Olcott also served as president of the Albany Bankers' Association and a trustee of the Central Trust Company of New York. 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.

Personal life

Olcott spent his vacation salmon fishing on the

Restigouche River The Restigouche River (, ) is a river that flows across the northwestern part of the province of New Brunswick and the southeastern part of Quebec. The river flows in a northeasterly direction from its source in the Appalachian Mountains of nort ...

in Canada for over thirty years. He died in Albany on December 28, 1919. He was buried at the

Albany Rural Cemetery The Albany Rural Cemetery was established October 7, 1844, in Menands, New York, United States, just outside the city of Albany, New York. It is renowned as one of the most beautiful, pastoral cemeteries in the U.S., at over . Many historical ...

of which he had been president and treasurer of the Albany Cemetery Association. Although he did not have any children, his brother Frederic named his son, Dudley Olcott II (1874–1946), the prominent banker, after him. Dudley Olcott II, a horse trotter, also purchased the Herald Square Hotel for over $1,000,000 in 1913.

References

External links

* {{DEFAULTSORT:Olcott, Dudley 1838 births 1919 deaths The Albany Academy alumni Rensselaer Polytechnic Institute alumni American bankers New York (state) Republicans