Charles Eugene Selover, Sr.: From Niles Farm Boy To New York City Banker To San Franciso Importer - Part VII

Charles Eugene Selover, Sr. Leaves Brooklyn and Goes West

Tahiti Bound and Westward Move

Charles and Susan Selover were leading a relatively comfortable life at 228 New York Avenue in Brooklyn with Charles serving in corporate positions with companies of Attorney Edward H. Fallows at offices in Manhattan when we left them in 1919. That fall, however, Charles applied for a passport with the intention of traveling to Tahiti, Society Islands to conduct an audit for his employer. The passport was issued on 6 November 1919 with Charles scheduled to depart San Francisco, San Francisco Co., California on or about 15 December 1919 using the first available steamer.

Evidence shows that Charles was Comptroller of the Vegetable Oil Corporation, which had purchased a small mill at Papeete, Tahiti to produce coconut oil. The Corporation had expanded the initial plant to process 40 tons per day, and this operation was the one that Charles had planned to audit. Whether or not Charles actually made this trip to Tahiti isn't certain. His father, William, who lived with Charles and Susan, died in January 1920, and William's final days might have caused Charles to postpone his trip. Charles does state however that he went to California in January 1920 and came back to Brooklyn in May of that year. Therefore, Charles likely made his Tahiti trip during this period.

Charles must have made preparations during May and June of 1920 to move to San Francisco because on 3 July 1920 he removed there with his wife. The Vegetable Oil Corporation had constructed a new mill at Berkeley, Alameda Co., California for producing coconut oil, about twice as large as the mill at Papeete, Tahiti. The Corporation also was planning to built a coconut oil refining plant and a butter and lard plant in California. These enterprises required Charles's presence in San Francisco, thus prompting his move from Brooklyn.

Life in San Francisco

Gertrude Selover Lockwood, Charles's aunt whose farm Charles had attempted to work back in 1903-1904, died at her home on North Street Road, Sennett, Cayuga Co., New York on 6 October 1920. Charles was listed among Gertrude's heirs-at-law and next-of-kin and cited to show cause why her Last Will and Testament and a Codicil thereto should not be admitted to probate at Surrogate's Court in Auburn, Cayuga Co., New York. The hearing was scheduled for ca. 10 December 1920. Whether or not Charles attended in person is not known. Gertrude's Executors distributed slightly less than $18,300 from the estate, and their accounts were settled in July 1922. How much, if anything, Charles received from this distribution has not been found.

By 1922 Charles and Susan were living at 766 Sutter Street in San Francisco where they continued to reside in 1923. The Selovers took up residence at 1080 Bush Street by 1924, about two blocks from their previous location, and remained there for the remainder of Charles's life.

Charles and Susan received their daughter, Kate Miller Selover Norton, her husband Gordon Norton, and the three Norton children for a stay of several months between January and April 1930 before Gordon returned to their home at Tidioute, Warren Co., Pennsylvania.

It may be that Kate and her children remained in San Francisco for the Golden Anniversary celebration of Charles and Susan on 23 June 1930. A news account states that Charles and Susan's family were all present for the celebration, with the exception of Charles, Jr. and family of Winsted, Litchfield Co., Connecticut.

Edith Huntington Spreckels Wakefield Divorce Case

Charles Selover testified as a corroborating witness in the divorce case of Mrs. Edith Huntington Spreckels Wakefield at Superior Court in San Rafael, Marin Co., California on 8 June 1923. Her husband, Franklin W. Wakefield was described as a vegetable oil magnate of Manila, Philippine Islands. Charles apparently was familiar with, and testified to, the circumstances of Edith's desertion by Franklin. She successfully obtained the divorce that she sought.

Pacific and East Coast Travel

The year 1924 was one of travel for Susan as well as for Charles. Susan and her sister, Philomena Ingalls Straat, departed for Tahiti aboard the "SS Maunganui" on 22 February 1924 to visit Charles and Susan's son, Newton Post Selover. Susan undoubtedly was eager to visit her young grandson there, as well. Newton was Superintendent of the Pacific Coconut Products Corporation in charge of a copra mill and fleet of schooners used to collect coconuts from around the Society Islands. The women returned to San Francisco ca. 20 April 1924.

Charles traveled to Cortland, Cortland Co., New York in October 1924 to stay with relatives, probably members of the Ingalls family, for a week before continuing on to New York City. Newspaper accounts show that Charles was still associated with the coconut oil industry at that time.

Susan Selover and Philomena Straat must have enjoyed their Pacific cruises because they sailed to Honolulu the following year on or before the 1st of March to visit their sister-in-law, Mrs. Arthur B. Ingalls, and her daughter. Susan and Philomena arrived back in San Francisco on 15 April 1925 after departing Honolulu on 8 April.

Citizens of Moravia, Cayuga Co., New York planned a Home Coming Day for the 4th of July 1927. Charles received an invitation to attend the event but wrote a reply sending his regrets at being unable to participate in the celebration. He referred to the fact that nearly all of his old friends and relatives were "now resting on the hill," an apparent reference to Moravia's Indian Mound Cemetery, and that 51 years had passed since he resided at Moravia.

Trumble Metals, Incorporated

Charles was last listed as Comptroller of the Vegetable Oil Corporation in 1929. At this time, he would have been 76 years old and ready for retirement. On the other hand, only the year before on 6 March 1928 Charles was among the incorporators and directors of Trumble Metals, Incorporated of Oakland, Alameda Co., California. Milon J. Trumble, the company's namesake, was an inventor and innovator. The company was to have capital stock of $200,000. Charles was listed as Treasurer of the company in 1931 showing that it was hard to retire an old financial war horse!

Death of Charles Eugene Selover, Sr.

Steamer "Harvard" Goes Aground Off Point Arguello

Charles E. Selover was among the passengers of the steamer "Harvard" when it struck a reef in dense fog off Point Arguello. All 497 passengers were safely taken aboard the cruiser "U. S. S. Louisville" and brought to Los Angeles Harbor. Apparently Charles suffered an illness during the month following his rescue, which some ascribed to exposure at the time of the shipwreck. Charles was visiting in the home of his son, Newton, at 28 15th Avenue, San Mateo, San Mateo Co., California when he died on 29 June 1931.

The San Mateo Lodge, F.&A.M., conducted funeral services for Charles at the William Crosby & Company Chapel in Burlingame, San Mateo Co., California on 1 July 1931. Burial followed in Cypress Lawn Memorial Park at Colma, San Mateo Co., California.

Caroline Susan Ingalls Selover's Last Years

Susan Selover resided in the apartment she had shared with Charles at 1080 Bush Street in San Francisco for the year following his death. By early 1933, if not before, she had moved in with the family of her son, Newton Post Selover, at 28 15th Avenue in San Mateo. Susan suffered from poor health for at least the last few months of her life or for perhaps as long as a year. Poor health and advanced age probably account for her residence with her son. It likely also is the reason Kate Selover Norton, accompanied by her son, Gordon I. Norton, Jr., traveled from Tidioute, Pennsylvania in the last half of June 1933 to visit her mother at San Mateo. Kate was back in Tidioute before the 4th of July.

Caroline Susan Ingalls Selover died at the Newton Selover residence on 15 September 1933. Like Charles's funeral, Susan's was held at the William Crosby & Company Chapel in Burlingame with burial in Cypress Lawn Memorial Park at Colma.

Charles Eugene Selover, Sr.: From Niles Farm Boy To New York City Banker To San Franciso Importer - Part VI

Charles Eugene Selover, Sr. Starts Over and Again Fails Several Times 

The Albert G. Burtis Probate

We left Charles and Susan Selover living at 123 North Street in Auburn, Cayuga Co., NY in 1902 with little visible means of support. Newspapers next report on Charles when he was called to give testimony in a trial over the Last Will and Testament of Albert G. Burtis, the wealthy resident of Springside (today called Springside Inn) in the Town of Fleming, Cayuga Co., New York. Albert's family contested his purported Will because of its large bequest to a 22-year old woman who claimed that she was engaged to Albert, who was very much her senior.

During the course of this litigation, Charles was questioned about his professional history, including his experience in banking, presumably to establish his credentials for the testimony he was about to give. Charles gave his current residence in September 1903 as his aunt's farm in Sennett, which he was "looking after."

Down on the Gertrude Selover Lockwood Farm in Sennett

Gertrude Selover, sister of Charles's father, married Horace W. Lockwood before 1850. Gertrude and Horace resided in the Town of Niles, Cayuga Co., New York up until the Civil War but had removed to a farm in the Town of Sennett, Cayuga Co., New York by 1865. This farm was located at the intersection of County House Road and North Street Road (as the intersection, since moved, then existed) just over one-half mile north of the Auburn city limits. Horace W. Lockwood died in 1892 leaving his widow, Gertrude, on the farm. She was Administratrix of Horace's estate and sold his livestock, farm equipment, and crops at a public auction not long after his death.

Gertrude retained the farm, which she presumably rented out to others between 1893 and 1902. Charles and Susan may have moved to the Lockwood farm early in 1903. There were two houses on the farm so the Selovers could have occupied the second house, if they didn't live with Gertrude. Charles hadn't been on a farm to work since he was a boy and hadn't previously exhibited an inclination for the strenuous physical labor required for farming at the turn of the 20th Century.

Whether or not Charles attempted to farm isn't clear. He would have had to acquire the requisite equipment and draft animals to farm because Gertrude had sold off all such items in 1892. A significant sum would have been required for Charles to get started in farming, even if Gertrude let him farm the land for free, which seems a bit unlikely, assuming she was living on farm rental income.

Charles would have had another option, that of acting as farm manager with hired hands to do the grunt work. He still would have had to make the initial investment in equipment, animals, and supplies, however, with his only return being the net income after paying on his investment and labor costs. Charles's net might be a relatively small amount or even loss depending on crop success and market prices. Whatever strategy Charles was following on the Lockwood Farm, he and Susan entertained William Selover, Jr. (Charles's father) and William's third wife, Ella C. Hicks, on 27 November 1903, the day after Thanksgiving.

Charles Goes Bankrupt

The next appearance of Charles in the newspapers came in January 1905 in the form of an article about him filing for bankruptcy at Utica, Oneida Co., New York.

Charles E. Selover Bankrupt. Charles E. Selover, a farmer at Sennett, through his attorney, Amasa J. Parker, yesterday filed a petition in voluntary bankruptcy in the courts at Utica. Selover's liabilities aggregate $16,725 and he has no assets. The creditors include David E.[F.] Wallace of Cortland, for $3,435; the Moravia National bank, $2,289; the National Bank of Cortland, $3,000 and the First National bank of Moravia, $8,000.

-- Thomas Tryniski (scan), Roger Post (transcriber), Charles E. Selover Bankrupt (Auburn, Cayuga Co., NY, The Auburn Bulletin, Wednesday, 11 January 1905), Old Fulton New York Post Cards http://www.fultonhistory.com

 We can speculate that the money owed to David F. Wallace, the initial President of the Melrose Woolen Company who disposed of his investment in 1898, might have been for Melrose stock purchased by Charles. The purposes of Charles's other borrowings remain unknown.

A Discharge in Bankruptcy for Charles E. Selover was granted at Utica on 2 May 1905. He was out from under his burden of debt, but, doubtless, his credit with the institutions he had depended on for loans had come to an end, probably permanently.

Charles Eugene Selover, Sr. at the Clark House Hotel in Fulton

Charles next surfaced at Fulton, Oswego Co., New York toward the end of March 1905 where he was operating the Clark House hotel in partnership with his much younger half-brother, William Harris Selover. Susan and Charles, probably with their younger children, must have resided at the hotel or nearby in Fulton while their oldest son, Charles Eugene Selover, Jr., remained in Auburn to attend Auburn High School. Charles, Jr. made a weekend trip from Auburn to Fulton to visit his parents in early April 1905.

The Selover brothers carried on their business at the Clark House until the end of November 1905 when their interest was assumed by Mr. Frank Freeman. The newspaper account stated that the Selover brothers had "conducted an excellent hotel." Little has been published to enlighten us about the reasons behind the Selover brothers getting out of the hotel businesses, but there are several clues.

William H. and Charles E. Selover brought a case to City Court in Fulton in mid-December 1905. The claim was against Mrs. Washburn, proprietor of an "Uncle Tom's Cabin" company of actors, for unpaid board of $34 incurred by members of the cast at the Clark House when it was under the management of the Selovers. Washburn, of course, maintained that she had nothing to do with the board bill and that it was the responsibility of others. How the case was resolved has not been found.

More revealing was revocation, with costs, ca. 24 January 1906 of the Liquor Excise Tax Certificate held by Charles E. Selover. The Revocation Order was granted to Commissioner of  Excise Cullinan in Supreme Court on the grounds that Charles sold liquor to minors and sold liquor on Sundays, both prohibited activities. From this evidence, we can assume that the Clark House sold liquor. Such sales likely were an important source of revenue for the operation. Charles's ambition to turn a profit may have gotten him into trouble through overreach once again. With the prospect of losing Charles's permission to sell liquor, the Selover brothers must have seen the handwriting on the wall and sold their interest to Mr. Freeman before the liquor license revocation came down.

Selover House on North Street in Auburn Sold

A newspaper notice appeared in March 1906 reporting purchase of the "old Selover homestead" on North Street in Auburn by the Auburn Theological Seminary. Charles and Susan had resided at two locations while in Auburn, 188 North Street and 123 North Street. The latter location was much closer to the Seminary than the former so 123 North Street possibly was the property in question. Whether the property was still owned by Charles remains doubtful given his bankruptcy the year before.

Charles Eugene Selover, Sr. Removes to Brooklyn and Gains Success

Central Congregational Church

Exactly when Charles and Susan and their family left Fulton for New York City is uncertain. A news item in September 1906 reports that Charles was visiting his father in Moravia, Cayuga Co., New York after traveling from New York City. Thus, it seems likely that Charles and Susan had made their move during spring or early summer 1906, if not before. We know that the Selovers resided in Brooklyn by spring 1907. Charles had established a relationship with the Central Congregational Church at Franklin Avenue and Hancock Street by April 1907 when he attended the First Annual Banquet given by the Men's Bible Class. Charles and Susan resided at 25 Spencer Place in 1907.

Charles would be associated with the Central Congregational Church through at least 1919 and probably early 1920. Charles, Sr., with his son, Charles, Jr., attended the Seventh Annual Dinner of the Men's Union of the Church at the Academy of Music on 1 February 1910. Charles, Sr. subsequently attended the Twelfth Annual Dinner in the Church's parlors on 1 March 1915. On 11 April 1918, former President William Howard Taft addressed the men's Annual Dinner gathering. Charles, Sr. attended, again joined by Charles, Jr., as well as Frank Cyrus Straat, his old partner and brother-in-law from Cortland, Cayuga Co., NY who now resided in New York City.

Harmony Club of America

Charles Selover's employment between his arrival in New York City in the first part of 1906 and continuing through the first half of 1909 has not been revealed. However, in early September 1909 tentative incorporation papers were filed for an entity to be called the Harmony Club, with Attorney Edward H. Fallows as President and Helen M. Fogler as Secretary. Charles E. Selover was also listed as an incorporator. The tentative incorporation was initially rejected because it proposed running hospitals, health homes, sanitoria, clinics, dispensaries, and other hygienic institutions, which required prior approval from the New York State Board of Charities.

Charles and Susan made a trip to Auburn and Moravia in mid-September 1909 while the Harmony Club incorporation papers presumably underwent revision by attorney Fallows. They stayed with Charles's father, William Selover, Jr., and stepmother, Ella C. Hicks, during their stay in Moravia, and returned on the Monday train to New York City on 20 September.

Apparently the Harmony Club incorporation papers were suitably massaged to enable approval, which came at Albany, Albany Co., New York on 26 October 1909.

DULL CARE MUST TAKE BACK SEAT. . . . ALBANY, Oct. 26-The blue penciling of dull care and the harmonizing of people with themselves thereby putting them on the road to happiness is the object of the Harmony club of America, whose certificate of incorporation was approved today by Secretary Koenig. The application was made by Attorney Edward H. Fallows of New York, who is the founder of the new club. Interested with him is Bishop Fallows of the diocese of Chicago. Herman J. Schwartz, William Conner, Edward Earl Purinton, William G. Schauffler, Samuel Fallows, Helen M. Fogler, C. A. Mattfield and Charles E. Selover. All of-these people are to assist in radiating happiness throughout New York state, the United States and England. . . .

-- Thomas Tryniski (scan), Roger Post (transcriber), Dull Care Must Take Back Seat. . . . Albany, Oct. 26 (Glens Falls, Warren Co., NY, Glens Falls Daily Times, Tuesday, 26 October 1909), Old Fulton New York Post Cards http://www.fultonhistory.com

It is difficult to see Charles Eugene Selover, Sr. as a co-founder of a self-help organization, at least in light of his previous adventures in capitalism. On the other hand, Charles had been beaten down repeatedly in his efforts to make it big in finance and business and surely had the will to keep trying. The Harmony Club must have seemed an opportunity to Charles, however much he actually endorsed its tenets. Those principles were explained at a public meeting at the Carnegie Lyceum (today's Zankel Hall, part of Carnegie Hall) on 12 November 1909.

"HARMONY WAS ALL AROUND. . . . The Harmony Club held its first public meeting last night at the Carnegie Lyceum, which was crowded. the meeting was opened in harmony's name and closed in harmony. The large audience quit the building with the touching picture before them of Bishop Fallows of Chicago, who had just spoken on 'The World's Need of Harmony,' standing with hands extended after appealing (by request) for a collection in Harmony's name, while his son, Edward H. Fallows of this city, stood beside him-a bit in the rear, filially-with his hand on the Bishop's shoulder, as who should say:  'But nay-  Yet-if you will.'. . . Bishop Fallows in his address thus explained Harmony:  Harmony in the home means the constant [illegible], of love conjugal, love parental, love filial and love fraternal. It is the providence of the father, the tenderness of the mother, answered by the reciprocal affection and forbearance of the entire household flock, one toward another. . . . President Edward H. Fallows said further in explaining in greater detail the value of membership in the Harmony Club:  'Your only qualifications for membership are a hunger for happiness, a thirst for knowledge and a desire for growth and 50 cents.'. . ."

-- Thomas Tryniski (scan), Roger Post (transcriber), Harmony Was All Around (New York City, NY, The Sun, Saturday, 13 November 1909), Old Fulton New York Post Cards http://www.fultonhistory.com

Charles had become the Harmony Club Secretary by 1910, working from the offices of Attorney Edward H. Fallows at 30 Church Street in Manhattan. Charles and Susan were by then residing at 1058 Bergen Street in Brooklyn. There they were visited by Mr. and Mrs. William Selover, Jr. of Moravia, immediately following Thanksgiving 1910.

Charles continued with the Harmony Club during 1911 but by then was Treasurer of the organization working at 30 Church Street and 5 East 42nd Street. We can assume that he remained with the Harmony Club through 1911 and perhaps well into 1912 when probate documents of his uncle, Henry D. Welty of Owasco, Cayuga Co., New York, listed him among next of kin. Charles and Susan's
four children were each to receive $500 pursuant to Henry D. Welty's Will.

Society of the Cayugas

 Charles was listed among the members of the Society of the Cayugas in early November 1909. The Society was a club whose members comprised former residents of Cayuga County, New York then living in New York City. The Society of the Cayugas, viewed in today's context, engaged in appropriation of aspects of Iroquoian culture, but, at the time, probably served to cement business and social relationships among former Cayugans.

American Bankers' Safety Company

Late September 1912 revealed that Charles Eugene Selover, Sr. had not retreated from his vision of success in the world of finance and manufacturing. A newspaper note announced incorporation of the American Bankers' Safety Company with a stock capitalization of $3,000,000. Charles was listed among the incorporators of the Company, which intended to manufacture and trade in banking equipment, safes, and vaults. When the Company declared a dividend of 1 3/4% on its preferred stock in mid-December 1912, Charles was listed as Assistant Treasurer of the corporation.

Financial commentators, however, were skeptical about the prospects of the American Banker's Safety Company.

Capitalizing Prospects. . . . Talk about over-capitalization, capitalizing prospects, stock watering, etc., have you seen the prospectus of the American Bankers Safety Company, of Delaware, issued under the auspices of George Leask & Company, members of the New York Stock Exchange recommending the 7 percent cumulative preferred stock of this company 'as an attractive investment?' If not, secure a copy, and if it does not remind you of the 'good old days of 1892' when the Herring-Hall-Marvin Company was launched your memory must be deficient, for we doubt if anything quite so remarkable in the way of a stock flotation in the safe and vault construction business has been undertaken since that company made its appearance one April morning, was three times over-subscribed, paid one dividend and subsequently passed into the hands of a receiver. . . . If the American Bankers Safety Company was capitalized at what could be regarded as a fair valuation of assets the preferred stock might be shown to be attractive as an investment, but when $2,000,000 of good will and numerous other large and doubtful items are inserted to swell its assets to uncertain proportions, the enterprise calls for analysis. . . .

-- Roger Post (transcriber), United States Investor 24(4):163-165 (Boston, New York, and Washington, Frank P. Bennett & Company, January 25, 1913), Google Books https://books.google.com/

Whatever the case was for or against the American Bankers' Safety Company, Charles, as Assistant Treasurer, presumably had a steady income as a corporate officer in 1913. Charles and Susan traveled to Moravia, Cayuga Co., New York in September 1913 for a stay with Mr. and Mrs. William Selover, Jr. The latter couple made a return visit to Charles and Susan's family in Brooklyn just after Thanksgiving 1913.

Cortland County Society of Greater New York and Vicinity

Like the Society of the Cayugas, the Cortland County Society was meant to maintain relationships between former residents of Cortland County, New York who had removed to New York City and surrounding communities. The Cortland County Society held its 13th Annual Reunion and Dinner on 25 January 1913 at the Hotel Astor, then a relatively new hotel located in the Times Square area of Manhattan. Charles and Susan Selover attended the function, which was presided over by Frank Cyrus Straat, Charles's brother-in-law and former business partner in Cortland. Philomena Ingalls Straat, Susan's sister, attended as well.

The Straats and Selovers both attended the 14th Annual Reunion and Dinner of the Cortland County Society on 22 January 1914, again at the Hotel Astor, where they dined together at Table No. 11. They were joined by William Ingalls Selover, Charles and Susan's second son who would have been 20 years old at the time.

We next learn of the Straats and Selovers attending a Cortland County Society Annual Reunion and Dinner on 14 February 1918 at the Aldine Club on Fifth Avenue in Manhattan. Charles Selover was a Member of the Nominating Committee for the Society for 1918. Both families also attended the 19th Annual Reunion and Dinner the following year, again at the Aldine Club. It may well be that Charles and Susan attended these events in other years as well.

Philippine Lyceum Bureau, Incorporated

This corporation, formed with the tiny capitalization of $1080 in November 1913, with Charles Selover as a Director, was an "amusement" management company. The Bureau would make all the arrangements for Dean C. Worcester, former Secretary of the Interior of the Philippine Islands, to conduct a lecture tour of the United States. Worcester had "hundreds of lantern slides to illustrate the conditions about which he [would] speak." The thrust of the tour, besides descriptive information about the Philippines and its people, seems to have been to show the colonial administration of the Islands by the United States in a favorable light.

The Bureau produced a brochure describing the proposed lecture tour and presumably would have received either a share of the gate receipts for Worcester's lectures or a fixed fee for making the necessary arrangements in various cities around the country. Evidence showing whether or not Charles made any money from the work of the Philippine Lyceum Bureau has not been found.

Sources indicate that Attorney Edward H. Fallows, the man behind the Harmony Club of America, was also President of the American-Philippine Company formed October 1912. It turns out that the Philippine Lyceum Bureau was located in the offices of the American-Philippine Company. This shows that Charles Selover had maintained his relationship with Fallows beyond that of the Harmony Club, and this fact set the stage for Charles's later career.

Visayan Refining Company

The Visayan Refining Company was incorporated in Dover, Delaware on 12 December 1913. Charles E. Selover was among the incorporators. Visayan proposed to "refine, prospect for[,] operate and maintain animal, mineral and vegetable substances of all kinds." Capitalization of Visayan was set at  $2,000,000 of stock. This was another of Attorney Edward H. Fallows' ventures under the umbrella of the American-Philippine Company.

Dean C. Worcester (see above) was made General Manager of the Visayan Refining Company. He was able, despite opposition, to establish a refining plant for producing coconut oil at Mactan, Cebu, Philippine Islands, which became very successful. Charles would have reaped at least a modest reward for his association with Visayan, which later became the Philippine Refining Company.

Port Washington Building Company and Port Washington Estates

Charles E. Selover was a Director and Treasurer of both the Port Washington Building Company and Port Washington Estates in 1914. Charles continued as a Director and Treasurer of Port Washington Estates in 1915-16, but his status with the Building Company during these years isn't known. It seems likely, however, that the two companies were closely tied and reasonable to assume that Charles continued as a Director and Treasurer of the Building Company subsequent to 1914. Both companies operated from 30 Church Street in Manhattan, the location of Attorney Edward H. Fallows' offices, and Fallows was President of both enterprises.

Port Washington Estates must have been a real estate development company. Port Washington is located on the North Shore of Long Island. An advertisement to sell a lot with beach access measuring 100' x 150' in Port Washington Estates for $2,900 on easy terms appeared over the name of Charles E. Selover in 1914. We can assume that the Port Washington Building Company existed to build houses on the lots sold by Port Washington Estates.

American-Philippine Company and Vegetable Oil Corporation

Charles E. Selover was directly associated with the American-Philippine Company of Edward H. Fallows, rather than with its subsidiary companies, for the first time in 1917 when he was listed as Assistant Secretary-Treasurer. This marked a move upward for Charles in Attorney Fallows' corporations. Still, Charles had been among the original incorporators of the American-Philippine Company in 1912 so presumably had retained some ownership interest in the corporation since that time. 

Charles identified himself as a Comptroller on his passport application in 1919  although his specific employer was not named. The 1920 federal census lists him as Secretary-Treasurer in the vegetable oil industry. Attorney Fallows had formed the Vegetable Oil Corporation to produce glycerine for munitions during World War I although it didn't go into operation before the end of the War. It is likely that Charles was Comptroller and Secretary-Treasurer of that organization.

At Home in Brooklyn

Charles's stepmother, Ella C. Hicks Selover, died on 10 December 1916 at Moravia. Charles's father, William Selover, Jr., then spent from February to May 1917 at the home of Charles and Susan in Brooklyn before returning to Moravia. It appears that William came back to Brooklyn to live permanently with Charles and Susan later in 1917. William died at their home 19 January 1920. His remains were returned to Moravia for burial in Indian Mound Cemetery.

Charles and Susan joined a group of relatives, including the family of their son Charles, Jr., at North Fair Haven, Sterling, Cayuga Co., New York at the beginning of September 1917 for a vacation of two weeks duration on Lake Ontario. Charles traveled to Cortland to visit his brother-in-law, Dr. Cassius E. Ingalls, for a week in July 1918. The following year, Charles and Susan joined the Straat family at a summer home in Winstead, Litchfield Co., Connecticut. There they were visited by Dr. Ingalls around Memorial Day 1919. 

Charles attended the 30th Annual Dinner honoring the birthday of General Ulysses S. Grant at Grant Hall of G. A. R. Post No. 327 on 28 April 1919 at 489 Washington Avenue. Charles had been just a boy during the Civil War but may have belonged to the Post's Associate Society or was otherwise the guest of a member.

We can speculate that by the summer of 1917 Charles had surmounted some of his past financial difficulties with steady employment in the several corporations of Attorney Edward H. Fallows, who was a very successful businessman. The Selovers, who had formerly lived at 1058 Bergen Street, were by 1919 living at 228 New York Avenue in Brooklyn. Business requirements would soon draw Charles and Susan to the West Coast of the United States as Attorney Fallows' companies continued to focus on the Philippine Islands and Tahiti.

To be continued. . . .

Charles Eugene Selover, Sr.: From Niles Farm Boy To New York City Banker To San Franciso Importer - Part V

Charles Eugene Selover, Sr. Starts Over

Selover Milling Company of Moravia, Cayuga Co., New York

We left Charles Eugene Selover, Sr. in February 1894 facing legal liabilities arising from the failure of the Madison Square Bank, of which he was a Director and Assistant Cashier. Susan had given birth to their second son, William Ingalls Selover, on 17 August 1893, little more than a week after the collapse of the Bank. Charles was without a full-time job although he held corporate offices in several enterprises. The future must have loomed somewhat bleakly in Passaic, New Jersey. One thing Charles was not, however, was a quitter!

Susan and Charles began March 1894 with a visit to Cy and Philomena Straat at Cortland. The Selovers must have been planning to leave Passaic at that time because by May they were renting apartments at Moravia where Charles seemed determined to raise capital via the family milling company to once again raise himself by his bootstraps, assisted, of course, by investors. One not so charitable view appeared in an Elmira newspaper.

CHARLES E. SELOVER. He Comes to the Front with Another 'Great Enterprise.' NEW YORK, May 26.-Despite the recent heavy rains, water inundations, river deluges and such like, Charles E. Selover, once of a Cortland bank, later of the busted Elmira national bank, and still later of the collapsed Madison Avenue bank, of New York city, is still on earth, and though not in the water, is on the high tide. Mr. Selover now belongs at Moravia, N. Y., and he, of course, has a scheme. . . . Just now Mr. Selover appears to be interested in floating some shares of the Selover Milling Company. The following advertisement . . . appeared in . . . a New York paper. . . . 'We offer 1,500 shares, eight per cent, preferred stock at par, $100 per share, of the Selover Milling company, incorporated 1886, under New York state laws, Capital stock, $300,000. . . .' NEWS IN ELMIRA. The foregoing will be news to Elmirans. If the Selover Milling company is organized to grind out banks and bank charters it will be a novelty. The advertisement is a little lame, in not stating what kind of milling this company does. Between Moravia, Cortland, Elmira and New York Charles E. Selover is widely known.

-- Thomas Tryniski (scan), Roger Post (transcriber), Charles E. Selover. He Comes to the Front with Another "Great Enterprise" (Elmira Chemung Co., NY, Elmira Telegram, Sunday, 27 May 1894), Old Fulton New York Post Cards http://www.fultonhistory.com

The results of Charles's efforts to sell stock in the Selover Milling Company are not known. Charles did find time to make business and social visits to Cortland in June, August, and December of 1894. He and Susan visited the Cy and Philomena Straat family in October, and Susan spent several weeks with the Straats following Thanksgiving.

Cortland Wagon Company of Cortland, Cortland Co., New York

Charles was part of the Office Staff of the Cortland Wagon Company during some or all of 1895. His brother-in-law, F. Cyrus Straat, was Secretary of the operation and probably a significant shareholder. Possibly Cy was able to help Charles with employment although Charles may well have been a minor shareholder in the company from his earlier residence in Cortland. Quite probably Charles moved his family to Cortland in 1895 because a 40-mile daily commute from Moravia to Cortland and return by horse and buggy does not seem possible. One oblique reference to the Selovers and Straats in 1895 identifies both to be from Cortland at that time.

A rare glimpse of the athletic side of Charles's character was revealed by his participation in a charity baseball game in Cortland in August 1895. He was a member of the "East Siders" team with Cy Straat. Cy managed the only home run of the game, but the "East Siders" were beaten 32 to 20 by the "West Siders" of Main Street.

On 30 October 1895, the officers and employees of the Cortland Wagon Company enjoyed a dinner at the Messenger House in Cortland. Charles and Cy were both in attendance. Both men would be in attendance nearly a year later on 1 September 1896 when a banquet honoring Cy Straat was given by the Company at the Cortland House. Cy was largely severing his relationship (Secretary and Treasurer) with the Company to move to New York City and join the Mutual Loan Association of New York as Treasurer.

Cortland Omnibus & Cab Company of Cortland, Cortland Co., New York

Charles E. Selover, Sr. had maintained a relationship with the Cortland Omnibus & Cab Company from as early as August 1885 when he and W. H. Newton purchased majority ownership in the firm. Charles is known to have served as Treasurer of the Company in 1887, if not before; Vice President in 1893; and Secretary in 1894-1896. F. Cyrus Straat served as a Director of the Company in 1893 and likely other years as well. Despite what would be described as "a flourishing business" during some years of its existence, the business was closed by the Sheriff on 6 January 1896 for outstanding indebtedness of $18,945.17, including six notes held by the National Bank of Cortland. Business was described as "very dull" in the period preceding the foreclosure. Approximately 35 employees remained on the payroll when the foreclosure occurred.

Closure of Cortland Omnibus & Cab Company would have been another financial blow to Charles Selover. How much ownership he had in the Company at its closure is not known, but in profitable years, at least, Charles would have derived income from his stock, and in all years likely was compensated for serving as a corporate official.

Manufacturer of Specialties in New York City

Charles Selover mentioned in testimony some years later that he had engaged in manufacturing "specialties" in New York City at some point following his years in banking. The year 1896 seems to be the only time largely unaccounted for during this period of Charles's life and likely is when he went to New York City. This move may have been prompted by failure of the Cortland Omnibus &  Cab Company. What "specialties" Charles manufactured is not known, and the episode appears to be another failed enterprise, rarely mentioned and largely undocumented, in Charles's career.

As mentioned above, Charles was back in Cortland on 1 September 1896 to attend the banquet honoring Cy Straat of the Cortland Wagon Company. Charles also was in Moravia on 15 January 1897 when he was elected as a Director of the Selover Milling Company, of which his father was elected a Director and President. Subsequent events show that Charles likely had returned to Central New York from New York City by the end of 1896.

Charles Eugene Selover, Sr. Claws Back with the Melrose Woolen Company

The Melrose Woolen Company of Auburn, Cayuga Co., New York

Newspaper articles appearing in mid-April 1897 described incorporation of the Melrose Woolen Company, which intended to operate at Auburn by leasing the old Canoga Woolen Mill, recently vacated by the Rose Valley Woolen Company, for manufacture of "rose" blankets. Incorporation papers listed Directors David F. Wallace of Cortland; Charles E. Selover, formerly of Cortland; and Thomas A. Holland of Auburn. The Melrose Woolen Company was capitalized at $15,000 with Wallace as President, Selover as Vice President and Treasurer, and Holland as Secretary and Superintendent.

Charles Selover's family was living in Cortland at this time, but he was working in Auburn as the Melrose Woolen Company entered operation. On 9 May 1897, Charles traveled to Cortland to visit his family on a Sunday. It may be that Charles's family had remained in Cortland the entire time since their move there in 1895, even while he engaged in manufacturing specialties in New York City, supposed to have occurred in 1896.

Little appears about the operation of the Melrose Woolen Company during the summer of 1897. At the time of its formation, the Company claimed to be aiming to hire up to 100 workers and to produce 75,000 blankets per year. The accuracy of this projection is not known. If the projection was even partially accurate, large amounts of wool would be required as raw material. This probably explains why Charles applied for a seat on the Wool Exchange at Beach Street and West Broadway (today's Tribeca Park area) in Manhattan in early September 1897.

Rumors, a Robbery, and a Tramp

A rumor circulated in Elmira in early October 1897, and was printed in the local newspaper with the caveat that the report could not be verified, that Charles had been shot and killed while hunting in the Maine woods. It is entirely possible that Charles went hunting in Maine; however, he was very much alive and little more than a week later had reported the theft of 18 solid silver spoons from his residence at 188 North Street in Auburn. The burglary was seen as quite curious because the doors and windows were believed locked before the family retired, the apparent thief had eaten a chunk of roast beef and taken a plate of cold potatoes, and much additional silver and a plainly visible pocketbook containing money remained untouched. No more has been learned of the incident, but it does show that Charles had obtained a house in a respectable neighborhood and moved his family from Cortland to Auburn by October 1897.

All was quiet at the Selover residence until 22 April 1900 when a tramp demanded entry to the home. He was refused. The police were called but failed to find the offender.

Selover and Ingalls Families Domestic Events

William Selover, Jr., Charles's father of Moravia, accompanied by his second wife, Eliza M. Harris and son William Harris Selover visited Charles's family in Auburn on Friday, 26 November 1897, the day after Thanksgiving. Charles and his father surely would have discussed the activities of the Selover Milling Company of Moravia and the Melrose Woolen Company of Auburn in addition to social pleasantries. Things would have been looking pretty good to Charles by the end of 1897, after the down years following the collapse of the Madison Square Bank, although he still faced the outcome of ongoing litigation over the failure. As earlier mentioned, that remaining thorn in Charles's side would come to an end in April of 1898.

Back in the domestic realm, Mrs. David. H. Ingalls, Susan Ingalls Selover's sister-in-law from Cortland, returned home in early July 1898 after a stay at the Selover home in Auburn. This visit was followed the next month by the birth of Charles and Susan's third son, Newton Post Selover, which occurred on 19 August 1898 at Auburn. In October 1899, Charles and Susan and two of their children visited with Charles's father at Moravia over a Sunday. Mason Boynton Ingalls, Jr. and Brownell Bulkley of Cortland traveled to Auburn to visit Charles in early August 1900. Mason was a nephew of Susan.

Charles and Susan attended the 50th Wedding Anniversary celebration for Stilwell M. Benjamin and Harriet Amelia Eggleston at their home on West Court Street in Cortland on 1 October 1900. Susan and her sister, Philomena Ingalls Straat, took a turn presiding at the reception table. Cy Straat also was in attendance at the event. Charles and Susan remained in Cortland to celebrate the 11th Wedding Anniversary of Louise Benjamin and N. H. Waters the following night at the Waters residence.

Charles Selover apparently renewed his participation in Masonic activities, of which little had appeared in print since his earlier days at the National Bank of Cortland, by attending the Annual Conclave of Knights Templar of New York held in Geneva, Ontario Co., New York in late October 1898. Charles did not march in the parade with other members of the Cortland Commandery, however. Eighteen months later, Charles and Susan Selover attended the Annual Ball of the Cortland Commandery No. 50, Knights Templar, on 20 April 1900 at Taylor Hall in Cortland. Dr. Cassius E. Ingalls, Susan's brother, attended as well, accompanied by Susan's niece, Mrs. Eastman. Charles and Susan remained in Cortland for several days before returning home to Auburn.

Melrose Woolen Company Supplies Blankets for the Spanish-American War

The United States declared war against Spain on 25 April 1898, thus entering the Spanish-American War. The War created a large demand for goods to support the United States military forces. Among these goods were blankets for military personnel. The Melrose Woolen Company won a contract for 125,000 indigo-dyed wool blankets at $3.25 each less than a month after war was declared. On 17 June 1898 the Deputy Quartermaster-General at Philadelphia awarded the Melrose Woolen Company a contract for 6,000 blankets at $8.25 each with an option to obtain 3,000 more. This was followed by an order in late August 1898 for 70,000 additional wool blankets for the United States Marine Corps. These blankets were to weigh 3 pounds each, bear the imprint "U. S.," and be tastefully bordered in blue and gold. The Melrose Woolen Company was forced to lease the old Chamberlain Mills (aka Phoenix Mills and later Seneca Knitting Company) of Seneca Falls, Seneca Co., New York to provide additional manufacturing capacity in the face of these orders.

Military demand for goods apparently had not wound down immediately after the Spanish-American War because the Melrose Woolen Company had received an order for 25,000 Army blankets in November 1898. They also were producing 150,000 yards of Kersey uniform fabric and 150,000 yards of blouse flannel for the military at that time. Business must have been looking good for the Melrose Woolen Company in the summer of 1898!

David F. Wallace Sells His Stock in the Melrose Woolen Company

David F. Wallace, President of the Melrose Woolen Company, disposed of his interest in the company before September 1898. Wallace surely was reading the papers and had learned that hostilities in the Spanish-America War had ceased on 12 August. He likely had surmised that the military would be unlikely to continue placing large orders for blankets and uniform fabrics. It may be that Wallace wanted to get out while still on top.

Who purchased Wallace's stock is not clear. Vice President Charles Selover may have taken up at least part of these shares, as may have the company Superintendent, Thomas A. Holland. With the departure of David F. Wallace, it appears that Charles assumed the reins as President and continued his role as Treasurer. No further mention of a Melrose Woolen Company Vice President is found.

Production Problems and Litigation

Not everything at the Melrose Woolen Company had gone to plan in 1898. Litigation filed by the Company against the Jaeck Brothers Company of Philadelphia in December 1898, if not before, revealed that Jaeck had sold an inferior product as indigo dye to Melrose. The Jaeck product ran and faded badly with the result that the U.S. Army rejected much of Melrose's initial run of blankets although they later accepted them at a reduced price. Melrose completed the contract with its own dye and had no further problems but sued Jaeck to recover losses incurred.

The case was first scheduled for the Equity and Special Term of Supreme Court at Auburn in January 1899. Like most such proceedings, the lawsuit dragged on until October 1899 before finally being heard after legal maneuvering in September. The Melrose Woolen Company's case must not have been persuasive because the Jaeck Brothers Company ended up winning about $300 plus costs (for $1,700 of dye for which Melrose had already paid $412 on account) in their consolidated countersuit. The outcome of an Appellate Court appeal by Melrose more than a year later at Rochester, Monroe Co., New York is not known.

Production of Domestic Fabric

The last military order for blankets or fabric from the Melrose Woolen Company seems to have been
that placed in November 1898. The Company's potential product mix in 1899 was listed in a trade publication as Army blankets, woolen blankets, steamer rugs, dress goods, and clothing, but by the summer of 1900 production was primarily, if not solely, "ladies dress goods." The mill was stated to be operating full time. Another trade publication listed the Melrose Woolen Company still producing ladies' dress goods with Charles E. Selover as President and Treasurer in 1901.

Disaster Strikes Charles Eugene Selover, Sr. and the Melrose Woolen Company

Woolhouse Fire

The Woolhouse of the Melrose Woolen Company was located on Canoga Street some distance from their main operation at Old Canoga Mill off Washington Street. Early on the morning of 3 October 1900 fire mostly destroyed the building and its contents. Losses were estimated to be $30,000 to $40,000. Woolhouse contents included 28,000 pounds of wool, 1,000 blankets, several thousand pounds of materials, and some items of machinery. The financial impact of this fire on the Melrose Woolen Company, if uninsured, likely was catastrophic.

Trying To Recover

A financial notice appeared in mid-January 1901 stating that the Melrose Woolen Company was filing to increase its Capital Stock by $15,000. In light of later events, this appears to have been an attempt by Charles to raise money to get him through a rough patch and is reminiscent of Charles's effort back in 1894 to increase the capitalization of the Selover Milling Company in Moravia. The extent to which either effort garnered additional investment is not apparent.

Evidence of financial strain on the Selover family appeared on 5 March 1901 when the mortgage on Charles and Susan's house and lot at 39 Prospect Street in Cortland was subject to a court decree, obtained by the Cortland Savings Bank, mandating sale of the property at public auction on 30 March. The Selovers had owned the home since 1884. The house sold to an employee of the Savings Bank for only $2,500, which was considered an extremely low price for the property. The fact that Charles could not make his mortgage good is telling.

Auburn Blanket Company Moves In

Next we see an announcement in late June 1901 that a firm to be called the Auburn Blanket Company would take over plant and business of the Melrose Woolen Company. The Auburn Blanket Company was backed by wealthy capitalists of New York City and would be run by H. C. Nellis of Picqua, Miami Co., Ohio as President and General Manager. It is not clear that Charles Selover got anything for his stock, which may have been rendered worthless following the fire at the Woolhouse. The old Canoga Mill would now be leased to the Auburn Blanket Company by the National Bank of Auburn, which indicates that the Melrose Woolen Company's lease for the property had expired or was terminated.

Creditors Seek Relief

The debts incurred by the Melrose Woolen Company during its final year or more of operation would now come due. It is likely that Charles Selover, as President of the firm, and presumably a stockholder, would have been held liable to the extent allowed by law. On 12 August 1901, a Judgment of $164.50 was rendered against the Melrose Woolen Company in City Court in favor of the Auburn Telephone Company and an execution issued for seizure of property to be sold at auction. Just over one week later, a Judgment of $650.76 was rendered in City Court against Melrose in favor of Mrs. Laura E. Holland (widow of Thomas A. Holland, who had died that spring), Albert T. Holland, and Lewis Wendell for their separate claims. The Court issued executions under this Judgment as well. Goods under the first execution were sold on 9 September 1901 and purchased for $150 by the Melrose Woolen Company Bookkeeper, George W. Callaghan, presumably so that the Company could retrieve its goods for resale at a higher price elsewhere, unless Callaghan was buying on his own account. The fate of the goods seized under the Judgment for the Holland family and Mr. Wendell is unclear.

Charles Eugene Selover, Sr. Hits Bottom Again

Charles largely disappears from the newspapers in late 1901. His fortunes had ebbed as the year drew to a close. One ray of hope might have been the $500 left to him pursuant to the Will of his uncle, John D. Welty, admitted to probate ca. 3 August 1901. When Charles would actually receive his inheritance is not known.

A 1902 City Directory lists Charles's residence as 123 North Street, a move from 188 North Street that might indicate downsizing. The listing retains Charles's occupation as Melrose Woolen  Company, however. Perhaps he was still marketing residual merchandise. It is not apparent how Charles was managing to hang on during 1902. He may have had some small income from previous ventures, such as his interest in the Selover Milling Company, sufficient to feed his family.

To be continued. . . .

Charles Eugene Selover, Sr.: From Niles Farm Boy To New York City Banker To San Franciso Importer - Part IV

Charles Eugene Selover, Sr. and the Madison Square Bank of New York City

Leaving Elmira Behind

We have seen that Charles and Susan Selover were highly motivated to advance themselves in banking and business during The Gilded Age of America. It is perhaps not surprising that Charles would not hesitate to continue his climb in the banking profession. We left him as President and Director of the First National Bank of Elmira in early 1891, having served in that capacity for about 18 months from the bank's founding.

Charles tendered his resignation as President of the First National Bank of Elmira on or before 1 March 1891, reportedly in response to a lucrative offer from the Madison Square Bank of New York City. Nevertheless, Charles apparently retained ownership of 250 shares of the First National Bank of Elmira when he took his position with Madison Square Bank in April 1891. These shares, with those of other shareholders, were later listed by Elmira National Bank official J. J. Bush in a tax lawsuit over their assessed value. Charles was listed as having debts, presumably to the First National Bank of Elmira, equivalent to the value of 25 of his 250 shares.

Charles traveled to Moravia, Cayuga Co., New York, the site of his early banking career, to visit friends and relatives in mid-March before his move to New York City, which probably occurred before 1 April 1891. Susan and Charles, Jr., however, appear to have temporarily returned to their former home in Cortland, or possibly to the home of Susan's sister, Philomena Ingalls Straat, in that town. Charles, Sr. made several trips from New York City to Cortland in April, trips probably made more urgent by Susan's pregnancy and birth of a daughter, Kate Miller Selover, on 27 April 1891.

Charles moved his family from Cortland to a house on High Street at Passaic, Passaic Co., New Jersey in late September 1891. In mid-October, Mr. and Mrs. F. Cyrus Straat traveled from Cortland to visit Charles and Susan in their new residence for several days. Charles and Cy undoubtedly discussed their various mutual business ventures and investments during the visit.

Charles Eugene Selover, Sr., Assistant Cashier of the Madison Square Bank

Charles had gone from being "a big fish in a small pond" to "a small fish in a big pond" with his move to the Madison Square Bank where his new position was that of Assistant Cashier. If not so initially, he later was also a Director of the Madison Square Bank, located at 202 5th Avenue in Manhattan. We don't have too much insight into Charles's activities during his first year at this institution.

In July 1892, Charles accompanied his sister-in-law, Philomena Straat, and her children on their return to Cortland from a vacation at Asbury Park, Monmouth Co., New Jersey. Charles visited with Mr. and Mrs. Straat in Cortland over a Sunday before returning to New Jersey. Both Charles and Susan returned to Cortland several weeks later to visit the Straats. Susan appears to have remained with her sister in Cortland for the month of August because Charles returned from New York City in early September to rejoin his wife.

Charles became a Director of the Automaton Piano Company in 1892, in which role he continued in 1893. It was later revealed that the Company obtained a loan of $10,000 from Joseph F. Blaut, President of the Madison Square Bank, with essentially worthless shares of the Cyclostyle Company put up as collateral by the Automaton Piano Company. The pot was sweetened when the Automaton Piano Company gave 1,000 shares of its own stock to Blaut as inducement for the loan. The shares were not held by the Madison Square Bank but were held by Blaut who later gave 500 of the shares to Charles. Charles was then made Treasurer of the Automaton Piano Company, presumably to keep an eye on their affairs for the bank. The Automaton Piano Company deal again illustrates mixing of personal business and bank business in what was apparently a "Wild West" of banking in the 1880s and 1890s.

Charles E. Selover and F. Cyrus Straat were elected Directors of the Cortland Omnibus & Cab Company in January 1893. The Directors then elected Charles as Vice President of the Company, which was stated to be in a very flourishing condition.

Collapse of the First National Bank of Elmira

Charles Eugene Selover, Sr. had been gone from Elmira for over two years when the First National Bank of Elmira suddenly collapsed near the end of May 1893. The immediate cause of the bank's closure seemed to be its extensive loans to Col. D. C. Robinson, a stockholder and Director of the institution, and his inability to cover his debts. Last minute negotiations with the Mutual Life Insurance Company for a bailout at first looked promising, but after due consideration the insurance company declined to proceed, and the First National Bank of Elmira closed.

Blame, of course, was thrown about to see what would stick. Charles, as the first President of the bank, came under criticism for the Georgia timberland deal executed during his former tenure when the bank receiver sold the bank's interest in 20,000 acres of Georgia timber for a paltry $1,600. Charles defended his management of the bank but did not wish to comment on the receiver's sale. A local lumberman, however, stated that adjacent Georgia timberland in which he held an interest was formerly valued at $3/acre but had increased to $5/acre with recent construction of a new railroad in the area. Charles seemed somewhat vindicated by that assessment, given that the land should have sold for in excess of $60,000.

Charles traveled from New York City to Auburn, Cayuga Co., New York and made a visit with his cousin, Mrs. J. M. Calhoun on 11 June 1893. If there was a business aspect to this trip related to failure of the First National Bank of Elmira, it was not mentioned in the news account of Charles's visit.

Collapse of the Madison Square Bank of New York City

The Madison Square Bank suffered a collapse on about 9 August 1893, just over two months after the First National Bank of Elmira had failed. A Clearing House Committee had found that Madison Square Bank was deficient $90,000 in funds, which forced Madison Square to close. To make matters worse, the Automaton Piano Company, of which Charles was a Director, was reported insolvent the following day. This company owed the Bank $31,021.25. The two failures presumably were linked because the Madison Square Bank had loaned money to the Automation Piano Company on collateral of little value. At this point, the 500 shares of the Automaton Piano Company that had been given to Charles presumably became worthless, or nearly so.

At first, Charles pursued his other business interests. He and Susan had sold a lot on Elm Street in Cortland for $5,000 only a few days before collapse of the Madison Square Bank. It may be that Charles saw the handwriting on the wall before the bank failed and hastened to bolster his cash reserves for the trouble ahead. He did have remaining debts at the failed Elmira Bank, part of which he had repaid in July 1893. Charles also continued his business interests in Cortland with his election as Director and subsequently Secretary of the Cortland Omnibus & Cab Company in early September.

Legal Aftermath of the Madison Square Bank Failure

The bank failure would have severe consequences for Charles Selover, who as Assistant Cashier and Director could be held criminally and civilly liable. This came to pass when he was arrested at Passaic, New Jersey on the evening of 23 October 1893 on a misdemeanor charge of violating New York State banking laws by failing to do his duty as Director. Charles was jailed by a New Jersey judge to be held for two weeks awaiting extradition proceedings. Apparently this was a more forceful approach than desired by the Assistant District Attorney in New York City who requested that the judge release Charles so that he could appear with his attorney in New York, which subsequently occurred. Charles was bailed on $5,000 bond put up by a friend, then traveled to Cortland on 28 October, presumably with Cy Straat who had come to New Jersey to assist him in his time of need.

Charles's case did not go before a Grand Jury until late November 1893. The Grand Jury handed up misdemeanor indictments of the Directors of Madison Square Bank on 27 November. The following day the indicted men each were required to put up an additional $5,000 bail or $10,000 apiece. Charles, with his legal problems momentarily on hold, cast about for new financial pursuits, and fell back on the old family milling business at Moravia, Cayuga Co., New York. He had assumed the Secretary and Treasurer's positions for the Moravia Milling Company by mid-December.

The year 1894 began with a bit of good news for Charles Selover. The Court of Oyer and Terminer in New York City dismissed the indictments against five of the former Madison Square Bank Directors, Charles included, on the grounds that the original charges lacked specificity. On the other hand, the good news soon was followed by bad. A civil suit test case for $4,000 was brought in mid-January against the Directors by a depositor seeking recovery of his funds. Filings indicated that Charles owned 100 shares of the Madison Square Bank originally valued at $10,000. Back in the criminal law arena, the Assistant District Attorney moved to resubmit charges against the Directors to the February Grand Jury. The Court of Oyer and Terminer took the Assistant District Attorney's motion under advisement after hearing counter arguments by attorneys for the Directors in mid-February 1894, but it appears that the charges were eventually dropped with Charles escaping further prosecution.

Charles, as former Assistant Cashier of the Madison Square Bank, was required to testify at the perjury trial of the Joseph F. Blaut, former President of the Bank. In the course of this testimony, Charles was revealed to have purchased and paid for 50 shares of the Madison stock and purchased another 50 shares for $7,500 for which he gave a note to the bank and in return was issued a Cashier's Certificate for the purchase amount. Presumably these constituted the same 100 shares previously referenced as owned by Charles. Further testimony by Charles revealed that he was ordered by Blaut not to include $150,000 in notes in a financial statement and that Blaut said he could verify the statement pursuant to a special contract that he held.

Civil litigation over the failed Madison Square Bank dragged on for the next four years. On 5 April 1895, notice of an amended summons naming Charles among the Defendants was issued on behalf of the creditors of the Madison Square Bank, Plaintiffs. The fate of this suit is not known; however, an apparently separate suit by the receivers of the Bank against Joseph F. Blaut, Charles E. Selover, and two others was settled on 28 April 1898 for $50,152. The share of this burden allotted to Charles is not known. It is likely that Blaut would have borne the major share.

Not to be forgotten were legal liabilities arising from the collapse of the First National Bank of Elmira. Charles had been indebted to the Bank when it failed. On 6 October 1897, the receivers of the Elmira Bank sold the claims, judgments, and demands belonging to the Bank at public auction. Among these was a judgment for $1,101.67 against Charles secured by 16 shares of the former Madison Square Bank.

Thus ended the long and solid start followed by the rather rapid rise and fall of Charles Eugene Selover, Sr. in the banking business. Charles was down but not out as he went on to reinvent himself in subsequent years.

To be continued. . . .

Charles Eugene Selover, Sr.: From Niles Farm Boy To New York City Banker To San Franciso Importer - Part III

Charles Eugene Selover, Sr. and the First National Bank of Elmira

Formation of the First National Bank of Elmira

Charles Eugene Selover, Sr. had diligently spent over 12 years as the Cashier of the National Bank of Cortland, as well as serving as a Director of the Bank, by the end of summer 1889. A group of investors determined to form a new bank in the City of Elmira, Chemung Co., New York with an initial capitalization of $200,000 and to begin operation in August 1889. Among the investors behind the First National Bank of Elmira was Charles's brother-in-law, F. Cyrus Straat, Secretary of the Cortland Wagon Company. Charles held at least a modest stake in the enterprise and was chosen to become the new bank's first President, presumably based on his previous extensive banking experience at Moravia and Cortland.

Charles resigned his Cashier position at Cortland National Bank on 14 August 1889 and shortly assumed his role as President of the First National Bank of Elmira. The new bank's exact opening date is not certain, but it was in full operation by early September 1889 in the new Robinson Building at 159 Lake Street in Elmira. Susan Ingalls Selover remained behind in Cortland until the end of the year when she and their first son, Charles E. Selover, Jr., permanently joined Charles Sr. in Elmira.

Charles Eugene Selover, Sr., President of the First National Bank of Elmira

Stockholders of the First National Bank of Elmira met in early January 1890 and voted to make Charles a Director of the Bank. The Directors then met and elected Charles to continue in his role as President of the Bank. Charles and Susan seem to have had the freedom and wherewithal to engage in occasional visiting and travel in 1890. At the end of January, they visited friends in Cortland. Charles then made a business trip to Washington, DC in mid-March. Upon his return, Charles made a visit to Cortland. The next month he visited his father in Moravia, Cayuga Co., New York on 20 April and attended a funeral in Cortland on 29 April. Finally, Charles and his family vacationed for three weeks on Martha's Vineyard with the F. Cyrus Straat family in August 1890.

Charles Eugene Selover, Sr., First Vice President and Trustee of the Elmira Savings Bank

The newly formed Elmira Savings Bank opened in the Robinson Building at 159 Lake Street in Elmira on 1 November 1890. Charles was named First Vice President and Trustee of the savings institution in addition to his roles as Director and President of the First National Bank of Elmira. Both institutions were in the Robinson Building; however, it not clear whether they occupied separate suites or were separated in name only.

Not long after taking up his duties as First Vice President of the Elmira Savings Bank, Charles was listed as donating $5 to the Elmira Citizens' Committee's Appeal For Subscriptions in Aid of the Irish Cause. This cause was the effort of the Irish people to obtain Home Rule for Ireland. Charles thus was sympathetic to the Irish people who were under the thumb of English rule.

Georgia Timberland Deals

Charles left Elmira for a trip to Georgia on 1 December 1890. Later events would reveal that his purpose was to make investments in Georgia timberland on behalf of the First National Bank of Elmira. These investments were characterized several years later as "wildcat lumber schemes." It seems that an entity called the Evans Land and Lumber Company issued bonds that were deposited in the Elmira Bank. Charles was Treasurer of the Evans Land and Lumber Company, and his brother-in-law, F. Cyrus Straat, also was listed in the Company's charter. Charles and Cy were still investors in manufacturing enterprises in Cortland and probably saw an opportunity to supply themselves with cheap lumber for wagonmaking and other purposes by acquiring forest land in Georgia. Little separation between bank business and personal business is apparent during this era of banking history, if the actions of Charles Eugene Selover, Sr. are an example.

All seemed well at the Directors' Meeting of the First National Bank of Elmira in early January 1891. The bank, with a capitalization of $200,000, had returned $19,458.68 in profits and surplus. Charles was re-elected as a Director and President. Not two months later, however, Charles resigned his position as President after being offered a more lucrative position with the Madison Square Bank in New York City.

To be continued. . . .