Dudley Olcott (September 21, 1838 – December 28, 1919) was an American banker who served as President of the

Mechanics' and Farmers' Bank of Albany The Mechanics' and Farmers' Bank of Albany was a state and national bank that became a subsidiary of the Bank of New York in 1969. History The Mechanics' and Farmers' Bank of Albany was formed on July 29, 1811, as the third bank incorporated in Alb ...

Early life

Olcott was born on February 23, 1841, in

Albany, New York Albany ( ) is the capital of the U.S. state of New York, also the seat and largest city of Albany County. Albany is on the west bank of the Hudson River, about south of its confluence with the Mohawk River, and about north of New York City ...

. 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 Frederic Pepoon Olcott (February 23, 1841, in Albany, Albany County, New York – April 15, 1909, in Bernardsville, Somerset County, New Jersey) was an American banker and politician. Early life Olcott was born on February 23, 1841, in Alban ...

, 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. The New York State Comptroller is the highest-paid state auditor or ...

. He was educated at

The Albany Academy The Albany Academy is an independent college preparatory day school for boys in Albany, New York, USA, enrolling students from Preschool (age 3) to Grade 12. It was established in 1813 by a charter signed by Mayor Philip Schuyler Van Rensselae ...

, before attending the

Rensselaer Polytechnic Institute Rensselaer Polytechnic Institute () (RPI) is a private research university in Troy, New York, with an additional campus in Hartford, Connecticut. A third campus in Groton, Connecticut closed in 2018. RPI was established in 1824 by Stephen Van ...

, where he studied

civil engineering Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads, bridges, canals, dams, airports, sewage ...

Career

After graduating from the Rensselaer Polytechnic Institute in 1858, he became an accountant in the

, 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'' ( non, Hróðr) "fame, glory, honou ...

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

Republican Republican can refer to: Political ideology * An advocate of a republic, a type of government that is not a monarchy or dictatorship, and is usually associated with the rule of law. ** Republicanism, the ideology in support of republics or agains ...

Governor

Reuben Fenton Reuben Eaton Fenton (July 4, 1819August 25, 1885) was an American merchant and politician from New York (state), New York. In the mid-19th Century, he served as a United States House of Representatives , U.S. Representative, a United States Sen ...

, 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 Albany Medical Center (AMC) is the name of the umbrella organization over the Albany Medical Center Hospital and Albany Medical College in Albany, New York. Though the name Albany Medical Center referring to the two institutions on their shared ca ...

, trustee of Home for Aged Men, a trustee of Albany Orphan Asylum, and a trustee of the

Albany Academy for Girls Albany Academy for Girls is an independent college-preparatory day school for girls in Albany, New York, United States, enrolling students from Preschool (age 3) to Grade 12. Founded in 1814 by Ebenezer Foote as the ''Albany Female Academy'', AAG ...

Personal life

Olcott spent his vacation salmon fishing on the

Restigouche River The Restigouche River (french: Rivière Ristigouche) 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 App ...

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 Colonie, 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 Am ...

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