Dudley Olcott
Dudley Olcott | |
|---|---|
| Born | Template:Birth date Albany, New York, U.S. |
| Died | December 28, 1919 (aged 81) |
| Occupation | Banker |
| Known for | President of the Mechanics' and Farmers' Bank of Albany |
Dudley Olcott (September 21, 1838 – December 28, 1919) was a prominent American banker known for his role as President of the Mechanics' and Farmers' Bank of Albany.
Early life
Born in Albany, New York, Olcott was the youngest among eleven siblings of Thomas Worth Olcott (1795–1880) and Caroline Dwight Pepoon Olcott (1797–1867). His father held the presidency of both the Mechanics' and Farmers' Bank and the Mechanics' and Farmers' Savings Bank of Albany. His brother, Frederic P. Olcott, notably served as the 24th New York State Comptroller.
Olcott received his education at The Albany Academy before pursuing civil engineering studies at Rensselaer Polytechnic Institute.
Career
Upon completing his degree at Rensselaer Polytechnic Institute in 1858, Olcott entered the Mechanics' and Farmers' Bank of Albany, where his father had been president since 1836. He progressed from assistant cashier to cashier over a thirteen-year span, eventually becoming vice president on December 31, 1878. Following the passing of his father, Olcott was chosen as bank president in March 1880, a capacity he maintained until his own death in 1919. His nephew, Robert Olcott, succeeded him in this role.
In 1867, Republican governor Reuben Fenton appointed Olcott as Paymaster General, a position he held until 1869. He also served as president of the Albany Bankers' Association and acted as trustee for the Central Trust Company of New York. His governance extended to several institutions including the Albany Hospital, Home for Aged Men, Albany Orphan Asylum, and Albany Academy for Girls.
Personal life
For more than three decades, Olcott was an avid salmon fisherman on Canada's Restigouche River. He passed away in Albany on December 28, 1919, and was interred at Albany Rural Cemetery, where he had fulfilled duties as president and treasurer of the Albany Cemetery Association.
Although he had no children, his brother Frederic honored him by naming his son Dudley Olcott II (1874–1946). Dudley Olcott II became a distinguished banker and horse trotter who acquired the Herald Square Hotel for upwards of $1 million in 1913.