After contracting tuberculosis in 1895, Alfred Donaldson came to Saranac Lake. Coming from a family of wealthy bankers, he founded the Adirondack Bank in 1897. He also erected a building known as the Donaldson Block in 1901, and the first occupants of its two storefronts were Western Union Telegraph and Cable Co. and George Baldwin, photographer. In 1908, William Distin bought the property from Donaldson. The Donaldson block was once again sold in 1922, and by 1937, the Saranac Lake National Bank possessed the building. Less than a year after acquiring the Donaldson Block, the Saranac Lake National Bank went bankrupt trying to finance the new highway to Tupper Lake; and the Federal Deposit Insurance Corporation took custody of the building in October, 1938. In 1943, the building was sold to Rex A. Holmes, a lawyer, who owned the building until the 1980s. 63 Main Street is now the location of China Jade restaurant and Belleville and Associates insurance.
Donaldson Block , Historic Saranac Lake Local Wiki. Accessed April 7th 2020. https://localwiki.org/hsl/Donaldson_Block.