Business: Oldest Banks

The tradition that Wall Street men die young is hardly borne out by John A. Stewart, Chairman of the Board of the United States Trust Co. On Aug. 26, Banker Stewart celebrated his 102nd birthday. Until three years ago, he came to his office three times a week to presideat board meetings; although not now active in the affairs of his bank, he still retains the Chairmanship and very fair health. He is the oldest bank official in the U. S.

Mr. Stewart is also the oldest living graduate of Columbia University (Class of 1840). After an initial experience as a railroad clerk, a clerk in the Board of Education, and an insurance actuary, he organized the U. S. Trust Co. in 1853. From that date to 1902, he served as its President, except for a two-year period during the Civil War, when he was called by Abraham Lincoln to act as Assistant Treasurer of the U. S. Since 1902, Mr. Stewart has acted as Chairman of the Board of the bank which, a half-century before, he had organized.

In his 98th year he was seated at his desk when the "Wall Street bomb'" explosion occurred. When shattered glass suddenly fell on the floor beside him, he calmly directed that it be cleaned up, proceeded with his work.