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Mini
Biographies of Scots and Scots Descendants (B)
Blair,
Chauncey Buckley |
(1810-1891) Born Blandford, MA, and a member
of one of the oldest families of that place. His great-grandfather settled
there in 1753. They are traced in Scotland as far back as the 12th
Century. Early in the 15th century, they migrated from Ayrshire, Scotland,
to the north of Ireland, settling in Aghadowey, Co. Antrim, Ulster and
came to America about 1718. Third child of Samuel and Hannah (Frary)
Blair, born in Blandford MA. In 1814, the family moved to Cortland Co., NY
where he remained until he was 11 years old. He then returned to his
native town to live with an uncle, a farmer, and was employed on the firm
until he had attained his majority. He went back to Cortland Co. and
remained there until 1835 when he determined to try his fortunes in the
west. Guided only by imperfect maps then furnished by the public land
offices, he rode over the vast territory of Michigan, Indiana and Illinois
gaining intimate knowledge of the property which he offered for sale until
1837. By the withdrawal of such lands by presidential proclamation, he was
obliged to abandon this profitable field. He associated himself with his
brother, Lyman in the grain business in Michigan City and they covered a
large territory, as Michigan City was then the only shipping point to
eastern markets. The firm name was C.G. & L. Blair, and at one time
they owned the largest warehouse in Indiana. They also built the first
bridge pier on the east side of Lake Michigan and were among the pioneer
shippers of grain to the East. He secured a charter to build a plant road
for 30 miles to make transportation inland from the lake easier. Notes
were issued on the stock of the corp and a banking business was started.
He was made President and so first entered the business to which he
devoted the remainder of his life. He was one of the incorporators of the
Northern Indiana Ry. He secured a controlling interest in the Bank of the
State of Indiana, becoming its President. In 1861, he came to Chicago and
acquired a n interested in a private bank which he held until 1865. He
then organized the Merchant's National Bank of Chicago. He was President
of this bank at 36 S. Clark Street for nearly 30 years, and is accorded
unanimous credit for having twice saved the financial situation in
Chicago, restored public confidence and averted general disaster to its
banks and a far-spreading and incalculable financial calamity. At the time
of the great fire of 1871, he insisted upon an immediate and full payment
to all the depositors of his bank. His action resulted in establishing the
credit of Chicago which had been greatly impaired. Because the city was
unable to collect the taxes of 1871, 72, 73 and 74, he was one of the few
to come to the rescue of the city. During the panic of 1873, when most
banks suspended payments, he made a firm stand to pay all demands. The
other banks agreed and Chicago passed through the panic without serious
harm to Chicago's credit. He married in 1844 Caroline Olivia De Groff,
daughter of Amos and Harriet (Sleight) De Groff. Children: George G.,
William S. (deceased in 1912), Chauncey J., Henry A., Watson A. (prominent
Chicago financiers with the Corn Exchange Bank, and Harriet (widow or John
J. Borland, Chicago.)He lived at 1611 Michigan avenue.
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