Daniel William Powers

Background

He was born on June 14, 1818 near Batavia, New York, United States, the son of Asahel and Elizabeth (Powell) Powers, who had emigrated in 1812 from Vermont to Genesee County, New York.

Education

After his father's death about 1821 he was given a home and an opportunity to attend school by Webster Powers, an uncle.

Career

After studies he went to Rochester, where he became a clerk in a hardware store, of which he in time became the directing head. He remained in the hardware trade until March 1, 1850, when he started in business for himself as a banker and broker. To this vocation he devoted himself until the time of his death. He met with great success in his new undertaking and in time came to be known as a leading financier of western New York.

His private bank was deemed safer than many state-chartered financial institutions, and its deposits were correspondingly large. It weathered the panic of 1857 successfully, and, when in 1866 a run on the bank seemed imminent, he raised a million dollars in currency within twenty-four hours. In 1890 his bank was incorporated with a capital of $100, 000 and was subsequently merged with another institution.

During the Civil War he supported the financial policies of the federal government. He fought and won a suit in the state courts to establish the legality of payment for debt in treasury notes made legal tender by the act of Congress on February 25, 1862. He bought heavily of the United States bonds, whenever they were depressed. When these obligations of the federal government rose later to a premium he found himself in possession of a handsome fortune. This enabled him to complete in 1870, on the site of the first dwelling house erected within the city limits of Rochester, one of the earliest large fireproof office buildings constructed west of New York City. Equipped with five elevators this structure of iron and stone was originally seven stories in height but was later surmounted by a tower two stories high, in which the federal signal-service station was housed. Still standing today (1934) it contains three hundred rooms including stores, halls for public entertainments, studios, and offices for business and professional men.

For his lawyer tenants he acquired Roscoe Conkling's law library of 6, 000 volumes. The building proved a good advertisement for Rochester and doubly so on account of the art gallery, which he started and made its chief feature in 1875, and which drew thousands of visitors annually.

He served twice as alderman, and was on the committee that supervised the construction of the Rochester's hall and directed the elevation of the New York Central tracks. He was president of the board of trustees of the city hospital and of the home for the friendless, and was trustee of the industrial school and the house of refuge.

Achievements

• Daniel William Powers acquired in Europe one of the most extensive and valuable art collections owned at that time by a single individual in the United States. It made his name known throughout the country and contained over a thousand art objects. He erected a fireproof hotel named for himself, which is still one of Rochester's leading hostelries. In civic affairs he helped establish the Rochester park system, represented the city's interest in the Genesee Valley Railway directorate, gave freely and unostentatiously to charities.

Works

More photos

• book

  • Valuable Paintings Sculpture, and Grand Clock Selected from the Powers Art Gallery Collection ... January 18th, 19th an 20th....

Connections

He was twice married. His first wife was Lucinda Young, who died in early womanhood leaving a son who did not live long. In 1856 he married Helen M. Craig, by whom he had three sons and two daughters.

Father:

Asahel Powers

Mother:

Elizabeth (Powell) Powers

Spouse:

Helen M. Craig

Spouse:

Lucinda Young

Uncle:

Webster Powers