David Stewart was born in Nairn, Scotland.

David Stewart arrived in Bannockburn around 1865. He set up house at Cornish Beach on the Kawarau River where he was mining.

David Stewart moved to the top end of Pipeclay Terrace where he built dwelling #140. The area became known as Stewarton, but was later changed to Stewart Town although there was never a town as such. Mr Stewart was involved in mining in the area and with the help of Mr J D Menzies he constructed around 6 miles of water race from Long Gully to Stewart Town. The two men then built a large storage dam (Menzies Dam - see location #136) and sold water to other miners. Later the water race was extended though to Slaughteryard Hill in Bannockburn. Davey Stewart, as he was known, was a bachelor and his mining partner John D Menzies, who was also a bachelor and a Scotsman, live with him in dwelling #140.

On 6 July 1883, Mr David Stewart died suddenly at his home in Stewart Town. He was aged 53 years and is buried in the old Cromwell cemetery. An inquest was held into his death and medical testimony showed that he succumbed to a disease of the heart.

" The estimation and high respect in which David Stewart of Bannockburn was held by all classes of the community was evinced by the general sorrow expressed at his sudden death on Friday last, and this feeling was outwardly demonstrated at his funeral on Sunday, which was attended by the largest gathering we have yet seen here on such mournful occasions. His friends and acquaintances at Bannockburn paid last tribute to deceased's worth as a man by following his remains to Cromwell, a great number on foot and many ion horses and in vehicles. Deceased, was for years an honorary member of the Cromwell Rifle Volunteers and as a token of respect the company attended the funeral in uniform. To the number of about forty included the band, the corps met the bier outside the town boundary, and at Stuarts corner (the Victoria Hotel) the already lengthy procession was augmented by many townspeople. From this point to the cemetery the band gave the beautiful piece "Vital Sparks". Mr Stewart was one of the oldest residents of the Bannockburn, where he had been engaged in mining pursuits from the opening of the field. As a water race owner of late years he had enjoyed moderate competency. His liberal views and kindly ways had endeared him to all with whom he came into contact, and it is safe to say that the memory of "Davey Stewart" will long be green in the hearts of many of the Bannockburn and elsewhere. "