Frederic P. Olcott

Frederic P. Olcott

Frederic Pepoon Olcott (born February 23, 1841 in Albany , New York , † April 15, 1909 in Bernardsville , New Jersey ) was an American banker and politician .

Career

Frederic Pepoon Olcott, eleventh and last child of Thomas Worth Olcott, President of the Mechanics and Farmers Bank and Mechanics and Farmers Savings Bank of Albany, was born and raised in Albany County during the Depression of 1837 . His childhood was overshadowed by the Mexican-American War . He attended the Albany Academy and then worked in his father's bank. After the Civil War , he moved in 1866 to New York City , where he stockbroker at the Wall Street was. He married Mary Esmay. The couple had two children, a son named Dudley Olcott II and a daughter named Edith, who was married to Barend van Gerbig.

On January 1, 1877, he was appointed New York State Comptroller , who was elected Governor of New York , for the remainder of the term of Lucius Robinson . In the elections in 1877 he was elected New York State Comptroller for the Democratic Party , the German-American Independent and the Bread-Winners' League . He suffered a defeat when he ran for re-election and left office in late 1879.

From 1884 to 1905 he was President of the Central Trust Company of New York, which became part of JPMorgan Chase after mergers and acquisitions . In that capacity, he was responsible for reorganizing many railroad lines that were in financial difficulty, such as the Philadelphia and Reading Railroad , the Brooklyn Elevated Railroad , the Third Avenue Railroad, and the Toledo, St. Louis and Western Railroad . He was also the director of the Delaware, Lackawanna and Western Railroad .

Because of his opposition to William Jennings Bryan , who was accused of attempting to destroy the American economy , he joined the Republican Party in 1896 . He took 1900 as a delegate for New Jersey at the Republican National Convention in Philadelphia ( Pennsylvania part).

After suffering from heart problems and chronic Bright's disease , he died on his farm in Bernardsville, New Jersey in 1909 and was then buried in the Albany Rural Cemetery (Section 53, Lot 12).

literature

• For State Officers , The New York Times, October 29, 1877
• Frederic P. Olcott, Financier, Is Dead , The New York Times, April 16, 1909
• Acting Like A Set Of Idiots , The New York Times, June 16, 1900

Web links

• Frederic P. Olcott on the smokershistory.com website