William George Phelps Sr. (Binghamton, NY)
William George Phelps Sr. (August 17, 1857 – February 12,1933)
Biography
- Name: William George Phelps, Sr.
- Birth: August 17, 1857 Wilkes-Barre, Pennsylvania
- Death: February 12, 1933 Binghamton, New York
Early life and family
William George Phelps was born at Wilkes-Barre, Pennsylvania, August 17, 1857, the son of John Case and Martha Bennett Phelps. His father was a leading coal operator and banker in the banking house of Bennett, Phelps & Company. The senior Bennett in the company, Ziba Bennett, was John C. Phelps' Father-in-Law and William's maternal grandfather. Later John C. Phelps was a director in the Wyoming National Bank of Wilkes-Barre along with the Bennett's, father and son bankers. Mr. Phelps was a brother of Judge Sherman D. Phelps of Binghamton, who was prominent in early development of the community. The first ancestor of the family in America was William Phelps of Dorchester, Mass., who came to the Massachusetts Colony in 1630, and subsequently moved to and settled at Windsor, Connecticut. The family lived in the vicinity of Simsbury, Conn., for many years. William G. Phelps was of the eighth generation in descent from William Phelps of Dorchester.
He married Caroline Shoemaker, daughter of L.D. and Esther (Wadhams) Shoemaker of Wilkes-Barre, Pennsylvania on Nov. 18, 1890. His father-in-law, Hon. Lazarus D. Shoemaker, was a two-term U.S. Congressman and president of the Second National Bank of Wilkes Barre (1871-1877). Mrs. Shoemaker was a direct descendent of Rev. Noah Wadhams, the pioneer who came with immigrants to the Wyoming Valley from Litchfield, Connecticut as pastor of the Colony founded at Plymouth.
Banking career
On February 17, 1901, the state superintendent of banking gave consent to the proposed absorption of the Susquehanna Valley and Strong State Banks by the First National Bank of Binghamton, New York. The combined capital of the resulting bank was $400,000. William G. Phelps assumed the presidency of the First National upon its merger with the Susquehanna Valley and Strong State banks. In January 1933, William G. Phelps, for 32 years an executive of the First national was re-elected chairman of the board of directors. Addison J. Parsons, associated with the bank for the last 44 years was re-elected to the board and re-elected vice president.
Other career highlights
- Security Mutual Life Insurance Co. and was vice president at time of death
- Binghamton Public Library; head of library from its beginning
Long Career and death
William G. Phelps received his education in the area elementary and high schools and at Williston Seminary, Easthampton, Massachusetts. After completing his studies, he was employed in his father's bank, Bennett, Phelps & Co., Wilkes-Barre and then spent two years in the oil business at Oil City, Pennsylvania.
Following the 1878 death of Sherman D. Phelps, former president of the Susquehanna Valley Bank and Judge of Wyoming County, Pennsylvania, William G. Phelps came to Binghamton. He became eventually owner of the old Phelps office and business building at Court and Chenango streets, where the First National Bank of Binghamton building stood. He remodeled the Interior and top floor of the Phelps building following a fire that did extensive damage around 1913 and then laid the plans for the erection of a new building. He became the business manager of the Binghamton Gas Company. He superintended the erection of the buildings forming the nucleus of the gas works located on Court street, opposite the Tompkins Street Bridge. He also erected the first buildings of the old Binghamton General Electric plant on Court Street, adjoining the Gas Works, and developed several other gas and electric plants at various places in the slate. His most notable work in this line was his development of the Trenton Falls Hydroelectric Power plant, near Ithaca, which provided power for a wide area of New York. He laid out two of the early Binghamton Valley lines, and was associated with the late Charles M. Stone in building the Court Street and East End Railroad. Later he held a large interest in the combination of local traction companies formed by G. Tracy Rogers. Mr. Phelps was for 30 years a member of the Binghamton Railway board of directors and for many years its vice president, a place that he held until after Mr. Rogers sold his trolley interests to Mortimer B. Fuller of Scranton.
With George F. Lyon, former Justice of the Supreme Court, and the late George W. Dunn, he owned a large tract on both sides of Broad Avenue. The building of the Court street and East End street car line brought this section into closer touch with other parts of the city, and it facilitated the development of numerous factories and dwellings. He was president of the Anora Coal Company, and heavily interested at one time in the old Owego, Light, Heat and Power Co., which became a part of the Associated Gas and Electric system. He served for four years as vice president of the Owego company. He also was an officer of the Bayless Pulp and Paper Co., which owned paper mills at Galeton and Austin, Pennsylvania. In local financial circles Mr. Phelps had long been a prominent figure, maintaining his interest even after his retirement from presidency of the First National Bank of Binghamton in January, 1928, when he took over the chairmanship of the board of directors. He assumed the presidency of the First National when it was merged with the Susquehanna Valley and Strong State banks In 1901. The First National then was located at the northwest corner of Court and Washington streets. The Security Mutual Life Insurance Company erected its building at Court and Exchange streets in 1904 and the bank moved into the ground floor early that year.
He was a director of the R.Z. Spaulding Bakeries. During the World War he was chairman of the Liberty Loan Commission for Broome county and was vice president of the Broome County American Red Cross. Mr. Phelps also was for several years president of the Southern Tier Publishing Co., which published the old Binghamton Republican, before its purchase and name change to the Binghamton Sun. In addition to his associations with Colonel Dunn, former Justice Lyon, the late Charles M. Stone, and the late G. Tracy Rogers, Mr. Phelps also had business connections with the late George A. Kent, cigar manufacturer and banker; the late Clarence F. Hotchkiss, head of the Stow Manufacturing Company, County Treasurer Walker F. Sherwood, Harvey D. Hinman, and other business and civic leaders.
It was also largely through his efforts that the Central YMCA building was erected on Washington street opposite the Hotel Bennett. He held a high place in Republican counsels and in 1900 was selected as a presidential elector in the McKinley campaign. Mr. Phelps belonged to the Binghamton Chamber of Commerce, the Binghamton Country Club, and the Laurentian and Shawinegan clubs of Canada. He was a member of the First Presbyterian church and was for many years president of its board of trustees.
Mr. Phelps died at his home, 65 Main Street, Sunday afternoon, February 12, 1933, at 5:30 PM. He was 76 years old. For 35 years a leader in Binghamton banking and investment circles, Mr. Phelps was widely known throughout the East. His death followed the return, a short time ago, of an old ailment, heart trouble, with high blood pressure, for which he obtained hospital treatment four years earlier. Since he was stricken, a week ago Sunday, he had been attended constantly by Dr. William S. Overton and nurses. After he had obtained relief from hiccoughing, from which he had suffered for three days, it was stated that he was improving and hope was held out that he would rally. A turn for the worse Sunday was followed quickly by death.
His daughter. Mrs. Harold (Esther) Pumpelly, of Owego, survived him and she inherited the summer home at Quaker Lake, Pennsylvania and the residence on Main Street as well as a $200,000 trust fund under the direction of the First National Bank. A son, John Case Phelps, a captain in the American Expeditionary Forces, was killed in action in the Argonne district of France in 1918. Another son, Denison Phelps, died Oct. 29, 1929, and a third son. William G., Jr., died in 1932. A brother, Z. Bennett Phelps of Binghamton, also survived him and was named in the will.
Bank Officer Summary
During his banking career, W. G. Phelps was involved with the following bank(s):
- Bennett, Phelps & Co., Bankers, Wilkes-Barre, Pennsylvania
- First National Bank, Binghamton, NY (Charter 202): President 1901-1927, Chairman of the Board 1928-1933
Sources
- William George Phelps on Findagrave.com.
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- Daily Record of the Times, Wilkes-Barre, PA, Fri., Feb. 5, 1875.
- New York Daily Herald, New York, NY, Thu., Nov. 14, 1878.
- Democrat and Chronicle, Rochester, New York, Mon., Feb. 18, 1901.
- Press and Sun-Bulletin, Binghamton, NY, Mon., Feb. 13, 1933.
- Press and Sun-Bulletin, Binghamton, NY, Fri., Feb. 17, 1933.