Stephen Clary

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Stephen Clary (September 25, 1814 – unknown) was an American businessman, exchange member, patriot and the 10th president of the Chicago Board of Trade (CBOT).
Clary joined the Chicago Board of Trade in 1853 and served as its president in 1861 during the first year of the Civil War in the U.S.Chicago Journal of Commerce - Chicago Board of Trade Centennial Issue
Clary worked for Mather & Co., which had offices at the foot of LaSalle Street in Chicago.
== Background ==
Born in Johnston, Montgomery County, New York, on September 25, 1814, Clary relocated to Geneva, New York, in 1824, where he spent his formative years until 1829. As an orphan, he began his career in the printing industry as an apprentice at the office of the Geneva Gazette, a local newspaper, where he worked until 1831.
Seeking new opportunities, Clary accepted an invitation from relatives in Ohio and moved to Milan, Ohio. There, he apprenticed at the mercantile establishment of Standart & Hamilton for six years, gaining valuable experience in the business.
In 1837, Clary relocated again, this time to Cleveland, Ohio, where he entered the ship chandlery business. He remained active in this industry until 1852.
In 1852, Clary made his way to Chicago, a burgeoning commercial hub in the Midwest. In the following year, he became a member of the shipping firm Mather, Clary & Co., which specialized in the construction of canal boats, vessels, and steamers.
Clary's involvement in Chicago's business community expanded further when he became a member of the Chicago Board of Trade in 1853. This marked the beginning of his influential role in shaping the city's commodity trading landscape.
Clary served as second vice president of the CBOT in 1859.
Clary was elected president of the Chicago Board of Trade in April 1861 when it convened its thirteenth annual meeting at its headquarters on South Water Street. Clinton Briggs was elected as first vice-president, E. G. Wolcott as second vice-president, and Seth Catlin as secretary.
In the spring of 1862 amid the early months of the U.S. Civil Ware, there was a movement to expel members of the Chicago Board of Trade who would not take an oath of loyalty to the Union. A special meeting of the board of directors was held on Friday evening, May 16, to act on a petition asking for a resolution to require every member of the CBOT to take an oath of allegiance to the United States. However, it was determined after considerable discussion that there was no basis in the rules to expel members for not taking the oath. There was no doubts about the sentiments of the members of the CBOT and the following resolution submitted by Stephen Clary was adopted:
"Whereas, This meeting was called for the purpose of adopting a resolution proposed in the call for the meeting, and
"Whereas, Such resolution cannot be adopted without an infringement of the rules and regulations, which prescribe a differ- ent mode of procedure ; therefore,
"Resolved, that this Board has given indubitable proof of its loyalty in the giving of its money freely for the purpose of sustaining the war, and for the support of the families of the soldiers battling for the Constitution and the Union.
"Resolved, That while our rules and regulations prescribe no such requisite as requiring its members to take the oath of alle- giance, we do again aver thus publicly our fealty to the Constitution and the Union.
"Resolved, That the Board of Directors be requested to refuse admission to the membership of this Board of any citizen of the United States against whom suspicions of disloyalty to the general Government are known to exist, until such suspicions are proved to their satisfaction to be unfounded."
In 1863, the need for more room for the CBOT became an urgent need and the CBOT president, John L. Hancock appointed a committee consisting of Clary and Nathaniel K. Fairbank, Charles Randolph, John C. Dore, Julian S. Rumsey, W. D. Houghteling and Calvin T. Wheeler to recommend the creation and organization of the Board of Trade Building Association. The committee was also supposed to submit a proposed amendment to the charter of the exchange under which it was believed it could construct and own its own building. Further work discovered the plan to be impractical and a new committee was appointed.
Clary participated in the Canal Convention in Chicago as a delegate representing the Chicago Board of Trade, along with fellow members John L. Hancock, Nathaniel K. Fairbank, George Armour, Charles H. Walker, Ira Y. Munn, William Sturges, R. McChesney, W. D. Houghteiing, Calvin T. Wheeler, Julian S. Rumsey, G. S. Hubbard, Charles Randolph and E. W. Densmore. U.S. Vice President Hannibal Hamlin was elected the conventions permanent chairman.
In 1871, the Illinois state government enacted a law placing grain inspections under state control. Clary was appointed to the crucial position of State Registrar of Grain Receipts, overseeing the regulation and inspection of grain receipts. He served in this capacity until 1873 when he resigned from office.
Following his tenure in public service, Clary remained active in the business world. He became associated with the prominent wholesale stationary and printing warehouse of Brown, Pettibone & Kelly.
== References ==	
Category:Deceased
Category:Deceased Members of the Chicago Board of Trade
Category:Presidents of the Chicago Board of Trade
Category:Former CBOT Officials