William A. Otis was one of those pioneer business men, who settled in Ohio during the dark times which followed the war of 1812. He was one of those to whom we owe much, but of whom the present generation know little; who without capital or education gave an impetus to the Western settlement, by integrity, personal energy, economy, and good sense. By force of character alone, which was their only capital, they wrought such wonders that the wilderness was literally transposed into fruitful fields.

Mr. Otis left his paternal home in Massachusetts, about the year 1818, on foot, to seek a home in the West. Having reached Johnstown, in the Allegheny Mountains, he hired for a few months as man of all work, in an iron establishment, and thence set forward, travelling as before, by way of Pittsburgh, to the township of Bloomfield, in Trumbull county, Ohio. His physical constitution was equal to the labors of a new country, which had nothing to recommend it but a rich soil, and which required above all things perseverance and hard work. He cleared land, furnished the settlers with goods, for which they paid in ashes, or wheat, and kept a comfortable tavern for the accommodation of travelers. The ashes were manufactured by himself into "black salts" or impure potash, more often styled "Pots," which was the only strictly cash article in the country. It was necessary to haul the casks of potash to the mouth of Beaver river, or to Pittsburgh, from whence they drifted on flat boats down the Ohio and Mississippi to New Orleans, and from thence were shipped to New York. Much of the teaming he did himself.

The "Pots" were exchanged at Pittsburgh for goods, or if shipped furnished a credit for the purchases, with which his wagon was loaded, on the return to Bloomfield. Currency did not in those days enter into the course of trade, because there was barely enough of it in the country to pay taxes. Mr. Otis was frequently obliged to furnish his customers with cash for this purpose. When the Erie Canal was finished to Buffalo, the wheat of the settlers on the Reserve, for the first time, became a cash article. They had an abundance of grain, which they were glad to dispose of at twenty-five cents a bushel, payable principally in goods. The canal furnished a better outlet for potash than the river. Mr. Otis determined to try a venture in flour at New York, which he considered the first lot sent there from the Reserve.

There were no flour barrels, and no coopers, at Bloomfield, but a few miles north towards the lake there was a good custom grist mill. He went into the woods, cut an oak tree, set his men to saw it into blocks of the right length, from which the rough staves were split. The wheat which his customers brought in, was stored at the mill and ground. When the cooper stuff was seasoned, the barrels were made, rough enough, but strong, and his stock of flour and potash hauled through the mud thirty-five miles to the mouth of Ashtabula creek. A schooner was at anchor outside, and as soon as his venture was on board, he took passage with it to Buffalo, and by canal to New York. The New York dealers were surprised and gratified, for they perceived at once the capacity of a new country on the shores of Lake Erie, of which they had hitherto only known in theory, not in practical results. In quality the flour was not behind that of the Genesee country, which seemed a wonder in their eyes. They purchased it readily and offered every encouragement to the trade and the trader. In process of time, wool and pork were added to the staples for the New York market. It was by this course of incessant activity during near twenty years of country business, coupled with a sure judgment, that Mr. Otis gradually acquired a moderate money capital. In 1835 or 1836, he came to this city, with his hard earned experience in traffic, and with more ready cash than most of our produce dealers then possessed, and entered upon a wider field of enterprise. He continued to purchase and sell the old class of articles, pork, flour and potash, to which iron soon became an important addition. His capital and experience brought him at once into connection with many public enterprises, which became necessary to an expanding country, especially such as relate to transportation. One of the earliest tumpikes in northeastern Ohio was made through Bloomfield, from Warren to Ashtabula. Steamers made their appearance on Lake Erie, and the Ohio canal extended navigation into the interior. In all these auxiliaries to trade in the heavy products of the country, Mr. Otis had a friendly interest, and when railways began to be discussed he saw their value at once. Finally, after his usual deliberation, he decided that the manufacture of iron was a safe and profitable business at Cleveland; he became the pioneer iron master of the place, with the usual result of his operations--a large profit on his investment.

This example and success laid the foundation of iron manufactures here. It required something more than the talents of a shrewd country merchant, or of a mere money lender, to foresee the coming wants of trade in a growing State, to invest in its banks, railroads and manufactures, and to render all these investments profitable. With his increase in wealth there was in Mr. Otis no increase of display, and no relaxation of the economy of early life, but an increasing liberality in public charities, particularly those connected with religion. When compared with the briskness of modern traffic he was slow and cautious; but having finally reached a conclusion he never flagged in the pursuit of his plans. He belonged to a past generation, but to a class of dealers whose judgment and perseverance built up the business of the country on a sure basis. In the midst of a speculative community in flush times, he appeared to be cold, dilatory, and over cautions, but he saw more clearly and further into the future of a business than younger and more impulsive minds, who had less experience in its revulsions.

For a number of years previous to his death Mr. Otis was largely interested in the banking business of the city. He took a prominent part in the organization of the State Bank of Ohio, was the originator of the Society for Savings in Cleveland, and was for thirteen years its president, and at the time of his death was president of the Commercial National Bank. He was also connected with the banking firm of Wicks, Otis & Brownell.

In connection with a notice of the originator of the Savings Bank in Cleveland it is appropriate to briefly sketch the history of that organization, which has worked so much good and which ranks to-day among the most important and most valued institutions in the city. The suggestion was first made by Mr. Otis in the Winter of 1848-9, and its organization was advocated on the ground of public benevolence. At the request of several prominent persons, Mr. S. H. Mather, the present secretary and treasurer, examined the character and practices of several eastern institutions of a similar character. A charter was drafted, principally from those of two well known institutions of the kind then in operation at Boston and Hartford. In the New England States every city and many villages and country towns have organizations of this character.

In March, 1849, the Legislature granted corporate powers to W. A. Otis, H. W. Clark, L. Handerson, J. Lyman, M. L. Hewitt, N. Brainard, Ralph Cowles, J. H. Gorham, A. Seymour, D. A. Shepard, James Gardner, J. A. Harris, J. H. Bingham, J. A. Briggs, S. H. Mather, J. A. Foot, and C. J. Woolson, and their successors, to be appointed by themselves, the corporate powers to continue thirty years. The corporators appointed John W. Allen president, S. H. Mather secretary, and J. F. Taintor treasurer, and commenced business in August, 1849, at the rear of the Merchants Bank, on Bank street. Mr. Taintor was at the time teller in the Merchants Bank, and it was supposed that he could attend to all the business of the Savings Society outside of banking hours. This was soon found to be impracticable, and at the end of about two years Mr. Taintor withdrew, leaving to Mr. Mather the joint office of secretary and treasurer.

At the end of three years the deposits were only $100,000. In the latter part of the year 1856, the society became able to have a better office, and moved into 118 Bank street, corner of Frankfort, under the Weddell house. The deposits in 1859, after ten years of business, were only about $300,000, but the concern had been so closely managed that a surplus was accumulating from the profits on investments over the six per cent. interest paid to depositors. From that time the business of the institution steadily increased until on the 1st day of January, 1869, its deposits considerably exceeded two and a half millions of dollars, and out of a large surplus had been built one of the finest and most substantial buildings in the city, on the north side of the Park. Such have been the fruits of the suggestion of Mr. Otis; such the success of the organization in which he took so deep an interest during his life.

On the announcement of the death of Mr. Otis, a meeting of bankers was immediately called for the purpose of taking some action in testimony of their respect for the deceased. All the banks were fully represented, as were the private banking firms. T. M. Kelly, of the Merchants National Bank, was called to the chair, and J. O. Buell, of the Second National Bank, appointed secretary. Appropriate remarks were made by the chairman and others, after which a committee, composed of T. P. Handy, H. B. Payne, Joseph Perkins, Henry Wick, and E. B. Hale, reported the following resolutions, testifying to the respect and esteem felt for Mr. Otis as a man of business, as a good citizen, and as a Christian:

It having pleased God to remove from our midst, on the morning of the 11th inst., Wm. A. Otis, who, for more than 22 years, has been associated with many of us in the business of banking, and has occupied a prominent position both in the early organization of the State Bank of Ohio, and of the Society for Savings of Cleveland, of which latter Society he was for thirteen years president, and at the time of his death was the president of the Commercial Bank of this city, and who by his wise counsels, his high regard for integrity and mercantile honors as well as by an exemplary Christian life, had secured the esteem and confidence of his associates and fellow citizens, and who, after a good old age, has been quietly gathered to his rest, therefore,

Resolved, That while we deeply mourn the loss of our departed brother, we commend his virtues, and especially his high standard of Christian integrity, for the imitation of the young men of our city as the most certain means to a successful business life, and a fitting preparation for its final close.

Resolved, That we deeply sympathize with the family of our deceased friend in the loss that both they and we are called to sustain, feeling assured that after so long a life of Christian fidelity this loss, to him is an infinite gain.

Resolved, That a copy of these resolutions, signed by the Chairman and Secretary, be furnished the family of the deceased and be duly published in our city papers.

J. C. Buell, Secretary. T. M. Kelly, Chairman. Cleveland, May 12, 1868.