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STEPHEN WATSON, President of the Madison National Bank of London, and Vice-president of the London Exchange Bank, and one of the largest land-holders of the county, has long been prominent in the business world of this section of the State as a financier and capitalist of exceptional ability, whose liberal and progressive spirit has been potent in advancing the material welfare of city and county, and his influence being felt in all that pertains to the higher interests of the community.
A native of Madison County, Mr. Watson was born in Paint Township, June 4, 1827. His parents were David and Mary (Helpshenstine) Watson, who were natives respectively of Maryland and Virginia. They were married in this county in 1807, and their wedding was an occasion of merry-making among the pioneers, who were, however, few in number, only twelve persons being present, although invitations had been sent throughout the county, but there were only a few inhabitants in all this region at that early day. Mr. and Mrs. Watson had to begin their married life as pioneers, sacrificing many comforts, braving many hardships and even dangers to upbuild a home, but working together with a hearty goodwill to accomplish their purpose, and their labors were crowned with a rich reward. Mr. Watson obtained land in that part of Union Township since known as Paint Township, and in time he became one of the most important farmers and most extensive stock dealers, and was well known all over this part of the county. He and his good wife had a family of twelve children, of whom only two are now living.
Our subject was reared on the home farm, and received his education in a log schoolhouse that stood thereon. When he was twenty-two years old, he and his brother Samuel purchased two hundred and fifty-eight acres of land, which they sold three years later, receiving a fine margin on the cost price. With his share of the money made by the sale, Mr. Watson bought one hundred and forty-five acres of land, and has often since invested in realty, until he has become one of the large land-owners of Madison County. He was engaged in farming and stock-raising until 1870. In 1868, he purchased a fine residence in London, and with Charles R. Cover entered into the business of broker, November 9, 1869. July 1, 1870, a stock company was formed, which bought the Madison County Bank, and Mr. Watson was appointed Vice-president, the name of the bank being changed to Exchange Bank. In June, 1880, he was further honored by being elected President of the Madison National Bank.
In the management of the above responsible offices, Mr. Watson brings to bear a wide experience in business affairs, a keen insight into money matters, and personal integrity that is beyond question, all of which have contributed to raise the standard of the banks with which he is connected to the first rank among the monetary institutions of the State. In their management, our subject and his fellow-officers pursue a wise, liberal and safe policy that has increased the business of the banks, and while greatly benefiting the stockholders, gives them the reputation of being perfectly sound and stable. It is to such men as Mr. Watson and his associates in business circles that Madison County owes its steady rise and highly prosperous condition. His name is also associated with many good works that have contributed to its moral and religious advancement, and in him the Methodist Episcopal church finds an exemplary member.
Mr. Watson was married in 1852 to Miss Elmira, daughter of John Dungan, who is a woman of rare character, and in her devotion to her husband's interests has helped him to make life a success.
STEPHEN WATSON, President of the Madison National Bank, and Acting President of the London Exchange Bank, was born in Union (now Paint) Township, Madison County, June 4, 1827. His father, David Watson. was born in Maryland October 17, 1783. He was a son of Walter Watson, also a native of Eastern Maryland, who was one of six brothers -- said to be the smallest, and his average weight was 235 pounds. After David's birth, he moved to Virginia, and came to Ohio in 1806. He located in Ross County, near Chillicothe, and one year later moved to this county. David came to Madison County in 1805 to help his father-in-law, Peter P. Helpinstine, in surveying. Mr. Helphinstine's father was a Major in the Revolutionary war, and had a land grant calling for 5,011 acres. His son, our subject's father, came along to survey it. They laid it out in three places on Oak Run, Walnut Run, and Deer Creek. After the land was divided there were 100 acres overplus, which Mr. Watson purchased at $2 per acre, giving in exchange a horse valued at $100. and a watch valued at $20. and owing the balance. In 1807, he settled on the land in Madison County, boarding with Jonathan and Eleanor Minshall, his brother-in-law and sister, until a cabin was built on his land by friendly neighbors. His wife was Mary Helphinstine, a native of Frederick County, Va., who died in 1852. Mr. Watson was a farmer and stock-raiser through life, and died in April, 1870. They had twelve children, five sons and seven daughters, of whom only four, two daughters and two sons, are living, viz.: Susannah, wife of Wesley Yocums, of Champaign County, Ohio; Isabella, wife of A. H. Nixon. a wholesale tobacco dealer of Dayton, Ohio. Our subject, the eighth child and fourth son; and David, one of the County Commissioners, residing on the old homestead, in Paint Township. Our subject was reared on the home farm, and received his early education, which was limited, in a log schoolhouse on his father's farm. When twenty-two years of age, he purchased, with his brother Samuel, 258 acres of land, which they kept three years and then sold it at an advance of $3,000. With the proceeds, he purchased 145 acres, to which he has since added until he now owns about 600 acres. He was engaged in farming and stock-raising until 1871. In 1868, he came to London, and purchased his present residence. He and Mr. Charles R. Cover engaged in the business of brokers on November 9, 1869, and have been engaged in it since. On July 1, 1870 a stock company was formed and bought the Madison County Bank of Addison Shanklin and Robert Boyd. Mr. Watson was appointed Vice President, and the name of the bank changed to the Exchange Bank. He has since been Acting President. In June, 1880, he was elected President of the Madison National Bank. He is a member of the Methodist Episcopal Church, and a trustee and treasurer of the church at London. On December 23, 1852, he was married to Elmira, daughter of John Dungan.
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