Myron Waters was the son of Nehemiah and Polly Waters, born at Concord, Erie County, New York on April 9, 1817. Myron came to Warren, PA, in 1826, where he attended school until 1834, and further attended school at Palmer, St. Clair County, Michigan. Later, he shipped at Detroit, as a sailor, on board a vessel bound for the upper lakes, and at Port Huron learned the painter's trade. In 1840, he moved from Michigan to Erie, Pa., where he worked at the painter's trade for three or four years. This field of labor was too circumscribed, however, for a man of his superlative business talents, and therefore, in 1845, he engaged in merchandizing and in the lumber trade. These occupied his attention for fifteen years, during which time, in connection with M. Miles, he built a large saw mill and grist mill at Farmington, Warren County, PA.

For a number of years Myron Waters drilled oil, securing the first charter granted for pumping oil long distances through pipe lines. He also engaged in oil exportation, and shipped large quantities to Liverpool, England. He was likewise one of the incorporators of the Oil Creek Railroad. In 1859, Mr. Waters built seven miles of the Philadephia & Erie Railroad.

Mr. Waters was chairman of the committee that erected the building at Warren, Pa., owned and occupied by the First National Ban, was a charter member of the Citizen's Savings Bank, and its president from 1873 to the date of its being merged with the Citizens' National Bank, February 8, 1875.

In 1882, Mr. Waters built the Warren & Farnsworth Valley Railroad, from Clarendon to Farnsworth, in Warren County. About two miles from Warren he built a wooden bridge across the Allegheny River, the bridge being known as the Glade Run Bridge. The structure was later replaed by an iron structure.

Additionally, Myron Waters was one of the purchasers of the land on which the Warren Public Library stands, he owned and rebuilt the Carver House, he built the Waters block on Liberty Street with a frontage of 150 feet, he built a large livery and storage barns on Third Street, he errected the Citizens' National Bank building in 1889, he was one of the three members that built the Warren (grist) Mills Compnay, he was a large stock-holder in the Seneca Oil Works, he was a large stock-holder in the Kinnear Manufacturing Company, he was a large stock-holder and served as President in the Piso's Cure for Consumption and Catarrh company, and he had captial investment in the Celeron hotel on Chautauqua Lake, NY.

Myron Waters married Fanny M. French in 1844, they had one son and two daughters. Fanny passed in 1854. Myron married Charlotte L. Abbot in 1858. He was a constant attendant at the Presbyterian Church in Warren, PA.