Frank Overton Watts (St. Louis, MO)
Frank Overton Watts (November 14, 1867 – November 5, 1946)
Biography
- Name: Frank Overton Watts
- Birth: November 14, 1867 Paducah, KY
- Death: November 5, 1946 St. Louis, MO (+Buried in St. Louis)
- Hellena (Helen) M. (Moore) Watts (1875-1967) (Married 1894)
- Director of St. Louis Federal Reserve Bank
Frank Overton Watts was born in Paducah, Kentucky, on November 14, 1867, to Thomas L. Watts and Ruth (Caldwell) Watts. When he was 7 years old, he moved with his family to Union City, in the northwest corner of Tennessee. He was schooled locally in grade and preparatory schools, but no record can be found of his attendance at a university. His father and mother divorced in 1875, and his father died 4 years later, in 1879. He entered the banking business in 1882 as a runner for a Union City bank. He progressed steadily and served as both assistant cashier and cashier of the First National Bank of Union City, Tennessee, charter 3919. He was promoted to cashier there in 1887. Frank was heavily involved in organized amateur baseball in the early 1890's, being both a star pitcher and manager for the Union City Athletics.
On January 15, 1894, Hellena M. Moore accompanied her mother to Memphis for a concert. After the concert she told her mother she was leaving to go see a female friend in Union City. With no prior announcement, Hellena married Frank on January 16, 1894. Frank and Hellena were married the same day their wedding license was issued, and both families were surprised to learn about the wedding.
Frank was elected cashier of the First National Bank of Nashville, charter 150, on October 1, 1897. Frank had become involved with the Tennessee Banker's Association, and this no doubt helped him expand his circle of influence. He served as President of the Tennessee Banker's Association in 1899 and again in 1909. On January 14, 1907, he was elected President of the First National Bank at the age of 39 years. In 1910 he was elected President of the American Bankers Association for the years 1910-1911. Frank was also a golfing fanatic, and there are many newspaper accounts of him in local golf tournaments. He was President of the Nashville Golf and Country Club in 1911.
On June 14, 1912, Frank accepted the position of First Vice-President of the Third National Bank of St. Louis, Missouri, charter 170. Frank leaving his position at the First National Bank of Nashville caused, in part, the reorganization and merger of the First National Bank with the Fourth National Bank of Nashville, charter 1669, on June 25, 1912. The Fourth & First National Bank of Nashville, charter 1669, opened with Frank Watts serving as Chairman of the Board of Directors while also serving as Vice-President of the Third National Bank of St. Louis.
Upon the death of former bank President Charles H. Huttig, on July 18, 1913 Frank was elected President of the Third National Bank of St. Louis. Frank would remain at this institution for the rest of his life. Frank supported and gave speeches in favor of the banking industry making the currency supply more elastic and responsive to cyclical need. He was in favor of both the Aldrich-Vreeland Act of 1908 and the Federal Reserve Act of 1913. He lobbied the Federal Government to open a branch of the Federal Reserve in St. Louis and served as a director of the St. Louis Federal Reserve Bank for several years.
On July 3, 1919, there was a merger between the St. Louis Union Bank, the Mechanics-American National Bank of St. Louis, charter 7715, and the Third National Bank of St. Louis. The merged banks became the First National Bank in St. Louis, retained charter 170, and opened for business on July 7, 1919 with Frank Watts as President. On January 11, 1928, Frank was elected Chairman of the Board of Directors for the First National Bank in St. Louis, and on December 15, 1942, he resigned as Chairman of the Board and was elected Honorary Chairman. In October, 1946, Frank was hospitalized for bladder surgery and on November 5, 1946 he died of heart disease while in St. John's Hospital, in St. Louis. He was buried in Bellefontaine Cemetery in St. Louis.
Bank Officer Summary
During his banking career, Frank O. Watts was involved with the following banks:
- First National Bank, Union City, TN (Charter 3919): Cashier 1887-1896
- First NB/Fourth and First NB, Nashville, TN (Charter 150): President 1907-1912; Cashier 1897-1906
- Third National Bank/First NB, St. Louis, MO (Charter 170): President 1913-1928
References
- Bio info from writeup by Greg Culpepper. Sources Ancestry.com & Findagrave.com
- Findagrave.com https://www.findagrave.com/memorial/145725360/frank-overton-watts
- Banks & Bankers Historical Database (1782-1935), https://bbdata.banknotehistory.com
- The Bankers Magazine, Vol. 77, July 1908-Dec. 1908, p. 916.