Sylvester T. Everett
Encyclopedia
Sylvester T. Everett was a U.S. financier
.
Born in Liberty Township, Ohio
, he worked on his father's farm until 1850. Everett moved to Cleveland
in 1851 to work, first as a messenger and later as a cashier, at Cleveland's oldest banking house Brockway, Wason, Everett & Co (co-founded by his brother Dr. Henry Everett). Sylvester left Cleveland in 1858 to work at a bank in Philadelphia while helping settle the affairs of his uncle Charles Everett. He returned to Cleveland a year later to his banking house position. In 1868 he became a member of Everett, Weddell & Co. (previously Brockway, Wason, Everett & Co.).
Everett served seven terms, from 1869 to 1888, as Treasurer
of the city of Cleveland. He was a prominent member of the Republican Party
, being friends with President of the United States
James Garfield
who appointed Everett as U.S. government director of the Union Pacific Railroad
. Everett played a part in Marcus Hanna being elected an Ohio delegate to the 1884 Republican National Convention
and himself served as an Ohio delegate at the 1872, 1880, 1888 and 1896 Republican National Conventions.
Everett's involvement with transportation led him to help finance and build some of the first U.S. electric streetcar systems in Akron, Ohio
and Erie, Pennsylvania
. He served as Vice-President and Treasurer of the Valley Railway Company, completed in 1880, which ran between Cleveland and Akron. A train depot and surrounding community on the railway were named Everett.
In 1876, he became president of Second National Bank later reorganized as the Union National Bank.
Everett married his second wife Alice Wade, granddaughter of Jeptha Wade
, in 1879 after the death of his first wife Mary in 1876. Sylvester and Alice commissioned Charles F. Schweinfurth
to come to Cleveland from New York City
to build the Romanesque
style Sylvester Everett Mansion, started in 1883 and completed in 1887.
In 1883 he was asked to resign as President of Union National Bank by Henry B. Payne
at the request of the bank's directors. Everett had speculated in stocks, including the Northern Pacific Railway
, with his own money, which was contrary to bank rules. He retained a financial interest in Everett, Weddell & Co. until 1883. It failed in 1884 amid later allegations by Horace Weddell that Everett and his brother had misrepresented the bank's solvency.
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
.
Born in Liberty Township, Ohio
Liberty Township, Ohio
Liberty Township, Ohio may refer to:*Liberty Township, Adams County, Ohio*Liberty Township, Butler County, Ohio*Liberty Township, Clinton County, Ohio*Liberty Township, Crawford County, Ohio*Liberty Township, Darke County, Ohio...
, he worked on his father's farm until 1850. Everett moved to Cleveland
Cleveland, Ohio
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
in 1851 to work, first as a messenger and later as a cashier, at Cleveland's oldest banking house Brockway, Wason, Everett & Co (co-founded by his brother Dr. Henry Everett). Sylvester left Cleveland in 1858 to work at a bank in Philadelphia while helping settle the affairs of his uncle Charles Everett. He returned to Cleveland a year later to his banking house position. In 1868 he became a member of Everett, Weddell & Co. (previously Brockway, Wason, Everett & Co.).
Everett served seven terms, from 1869 to 1888, as Treasurer
Treasurer
A treasurer is the person responsible for running the treasury of an organization. The adjective for a treasurer is normally "tresorial". The adjective "treasurial" normally means pertaining to a treasury, rather than the treasurer.-Government:...
of the city of Cleveland. He was a prominent member of the Republican Party
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
, being friends with President of the United States
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
James Garfield
James Garfield
James Abram Garfield served as the 20th President of the United States, after completing nine consecutive terms in the U.S. House of Representatives. Garfield's accomplishments as President included a controversial resurgence of Presidential authority above Senatorial courtesy in executive...
who appointed Everett as U.S. government director of the Union Pacific Railroad
Union Pacific Railroad
The Union Pacific Railroad , headquartered in Omaha, Nebraska, is the largest railroad network in the United States. James R. Young is president, CEO and Chairman....
. Everett played a part in Marcus Hanna being elected an Ohio delegate to the 1884 Republican National Convention
Republican National Convention
The Republican National Convention is the presidential nominating convention of the Republican Party of the United States. Convened by the Republican National Committee, the stated purpose of the convocation is to nominate an official candidate in an upcoming U.S...
and himself served as an Ohio delegate at the 1872, 1880, 1888 and 1896 Republican National Conventions.
Everett's involvement with transportation led him to help finance and build some of the first U.S. electric streetcar systems in Akron, Ohio
Akron, Ohio
Akron , is the fifth largest city in the U.S. state of Ohio and the county seat of Summit County. It is located in the Great Lakes region approximately south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110. The Akron Metropolitan...
and Erie, Pennsylvania
Erie, Pennsylvania
Erie is a city located in northwestern Pennsylvania in the United States. Named for the lake and the Native American tribe that resided along its southern shore, Erie is the state's fourth-largest city , with a population of 102,000...
. He served as Vice-President and Treasurer of the Valley Railway Company, completed in 1880, which ran between Cleveland and Akron. A train depot and surrounding community on the railway were named Everett.
In 1876, he became president of Second National Bank later reorganized as the Union National Bank.
Everett married his second wife Alice Wade, granddaughter of Jeptha Wade
Jeptha Wade
Jeptha Homer Wade was an American industrialist, philanthropist, and one of the founding members of Western Union Telegraph....
, in 1879 after the death of his first wife Mary in 1876. Sylvester and Alice commissioned Charles F. Schweinfurth
Charles F. Schweinfurth
Charles Frederick Schweinfurth was a prominent architect in Cleveland, Ohio. His brother Julius Schweinfurth was also an architect and they did some projects as a partnership.-Background:...
to come to Cleveland from New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
to build the Romanesque
Romanesque architecture
Romanesque architecture is an architectural style of Medieval Europe characterised by semi-circular arches. There is no consensus for the beginning date of the Romanesque architecture, with proposals ranging from the 6th to the 10th century. It developed in the 12th century into the Gothic style,...
style Sylvester Everett Mansion, started in 1883 and completed in 1887.
In 1883 he was asked to resign as President of Union National Bank by Henry B. Payne
Henry B. Payne
Henry B. Payne was a Democratic politician from Ohio. He served in both houses of the United States Congress....
at the request of the bank's directors. Everett had speculated in stocks, including the Northern Pacific Railway
Northern Pacific Railway
The Northern Pacific Railway was a railway that operated in the west along the Canadian border of the United States. Construction began in 1870 and the main line opened all the way from the Great Lakes to the Pacific when former president Ulysses S. Grant drove in the final "golden spike" in...
, with his own money, which was contrary to bank rules. He retained a financial interest in Everett, Weddell & Co. until 1883. It failed in 1884 amid later allegations by Horace Weddell that Everett and his brother had misrepresented the bank's solvency.