William Henry McVay Biography


	This biography appears on pages 320-321 in "History of Dakota Territory" 
	by George W. Kingsbury, Vol. IV (1915) and was scanned, 
	OCRed and edited by Maurice Krueger, mkrueger@iw.net.

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				HON. WILLIAM HENRY McVAY

	Hon. William Henry McVay devoted his life to the banking business 
and became recognized as one of the foremost financiers of South 
Dakota. He was for many years actively identified with the management 
and conduct of the First National Bank of Yankton and was its president 
at the time of his death, which occurred in 1907. His life was one of 
intense and well directed activity, resulting in the attainment of most 
honorable success.  

	Mr. McVay was born November 2, 1839, in Allegheny City, 
Pennsylvania, a son of James Taylor and Catherine (Bidwell) McVay. The 
father was born in the vicinity of Pittsburgh, Pennsylvania, and 
resided there throughout his lifetime, being engaged in the wholesale 
grocery business. His wife was a native of Connecticut and during her 
childhood went with her parents to Ohio. By her marriage she became the 
mother of seven children, including William Henry McVay, who was but 
three years of age at the time of his parents, death in 1842. He was 
reared by his maternal grandparents on a farm near Warren, Ohio, and 
was educated in the district schools and in the public schools of 
Warren. After putting aside his text-books he entered the employ of his 
uncle, John C. Bidwell, who operated the Pittsburgh Plow Works, and 
with him remained until the time of his removal to South Dakota, then 
Dakota territory, in the year 1876. He made his way to Yankton. In this 
connection one of the local papers said:  

	"For a number of years Pittsburgh and Yankton were more closely 
related in a business way than they have been for many years past. 
Before the advent of railways steamboat lines connected all then 
Missouri points with Pennsylvania's marvelous manufacturing center and 
steamers leaving Pittsburgh were freighted with glassware and iron 
goods for Yankton. Through this medium no doubt Mr. McVay had formed a 
favorable opinion of the then capital of Dakota, and he concluded to 
sever his connection with the overcrowded east and identify himself 
with the young and rapidly growing west. He came to Yankton during one 
of its prosperous hey-days, and entered actively into the business 
circles of the city and surrounding country, through his position as 
cashier of the new First National Bank, of which his brother was 
president. Yankton was an important steamboat point at that time and 
the First National was promoting the river business. The city was a 
busy one and the bank's affairs were active and prosperous. The new 
cashier very soon grew into the confidence and esteem of the business 
interests here by the exercise of those qualities of education and 
temperament which have since characterized his social and business 
intercourse with his fellow citizens. He not only became popular but 
retained during his busy life, the implicit confidence and earnest 
esteem of all who knew him."  

	On the 18th of October, 1866, at Warren, Ohio, Mr. McVay was 
united in marriage to Miss Rebecca Rutan, a daughter of Henry and Mary 
(Guy) Rutan, of that place. The children of this marriage are: Mary 
Rutan, the wife of George Wilson, William Henry, who married Alice 
Jones; Chester Bidwell, who married Jennie Gamble; Howard Guy; and 
Katherine Bidwell. His interests centered in his family and the 
greatest pleasure which he derived from his success was that it enabled 
him to provide liberally for his wife and children.  

	In politics Mr. McVay was a republican, but was never a 
politician in the sense of office seeking. Again we quote from the 
Press and Dakotan, which said: "It was Governor Howard who discerned in 
Mr. McVay the mall to extricate the finances of the Territory from an 
embarrassing condition and who in 1879 appointed him treasurer of the 
Territory. He made no mistake. There was improvement in the credit of 
the Territory from almost the beginning of Mr. McVay's administration, 
soon the warrants of the Territory were as good as cash and there were 
none on the market. Improvement continued until the credit of the 
Territory was restored and on a substantial basis and when Governor 
Ordway succeeded Howard, fortunately he made no change. Mr. McVay held 
the office almost seven years, and when he finally relinquished it the 
treasury was well equipped with a handsome balance in favor of the 
Territory. Mr. McVay, while he was a lifelong republican, was never an 
office seeker. During Governor Pierce,s administration he accepted the 
position of railroad commissioner for this portion of the Territory, 
and made an excellent official, but aside from that and the 
treasurership, he held no public position."  

	It was upon the removal of the capital from Yankton that Mr. 
McVay resigned his position as treasurer, not wishing to leave the city 
in which he had so long made his home. He was associated with the 
Congregational church at Yankton and was thoroughly allied to all the 
interests and opportunities of the city. Aside from the offices he 
held, his entire time was given to his duties in the bank and while 
cashier in name, he was virtually head of the institution long before 
he was elected to the presidency. The First National of Yankton is 
recognized as one of the soundest and most ably conducted of the 
financial institutions of the state, a result achieved largely through 
the efforts of Mr. McVay, a man highly esteemed for his assiduous 
attention to duty and the probity of his business career. His position 
not only in business, but also in social, educational and church 
circles is one hard to fill. He stood at all times for advancement and 
improvement and cooperated most heartily in movements for the general 
good. He was farsighted and ever looked beyond the exigencies of the 
moment to the opportunities of the future. He was a Mason and in his 
life exemplified the beneficent spirit of the craft, which recognizes 
the brotherhood of mankind and the obligations of the individual to his 
fellows. He had attractive social characteristics as well as splendid 
business qualifications; true worth always won his high regard and he 
held friendship inviolable. His life was strong and purposeful and 
exerted a beneficent influence upon the community in which he lived.