USPS Loses $3.3 Billion in the Last Quarter

A constant for generations and for much of our country's history, the USPS, is about to change forever.  Mail volume is declining precipitously with every passing quarter.  Either it won't exist or some pale, downscaled institution will only remain in just a few years.  See this Reuters article.

New York Stock Brokers: Charles E. Quincey & Company

C. E. Q. & Co.

???

Dave Thompson scan

Mr. Quincey got himself in a bit of a scrape in 1880 with a broker named Harvey Kennedy, and The New York Times took both successful men to task in the story below.  As Mr. Quincey was still practicing as a broker in 1898, it is clear that the kick administered by Mr. Kennedy wasn't fatal.

The New York Times, November 11, 1881:

ALL ABOUT A KICK.

ONE WALL-STREET BROKER SUES ANOTHER FOR PERSONAL DAMAGES.

Harvey Kennedy and Charles E. Quincey are Wall Street brokers.  Kennedy is a big man and Quincey a little one.  They had some business together in August, 1880, which led to a dispute between them.  Quincey called at Kennedy's office one day, and a controversy arose between them, which was terminated by a kick administered by Kennedy upon a fundamental part of Quincey's body.  Judge Horace Russell and a jury, in the Superior Court, are now endeavouring to determine whether or not Mr. Kennedy projected his foot so that it hit Mr. Kennedy with violence, and had an intention to do him harm by the impact, and also whether Mr. Quincey shall be consoled with monetary damages for the indignity and alleged bodily harm done by him.  In the suit on trial Mr. Quincey seeks $5000 damages, averring in his complaint that Mr. Kennedy's kick made him lame and ill, and that he has not yet recovered his previous good health.

Mr. Kennedy admits in his answer that he kicked Mr. Quincey, but pleads that he only gave him a little kick, which was just calculated to reprove him for his alleged insolence to the kicker in the kicker's office, and which was not delivered with force enough to hurt him.  The character of the defense is best shown by the following averment made by Mr. Kennedy:  "In consequence of Mr. Quincey's insulting and disorderly conduct, and because of the great provocation induced by his insults and abuse, I did give him a single kick, but I deny that I violently assaulted him except by the single kick, which was neither violent nor severe."  He denies that Mr. Quincey was, or could have been, ill or injured in anyway by the kick.  The trial of the case is still on.  Mssrs Martin & Smith for the plaintiff, and Mr. John M. Scribner for the defendant.

New York Stock Brokers: George B. Hopkins & Company

XX  HOPKINS & CO.

XX   26   1900

Langlois scan

George B. Hopkins

Photo from King's Views of the New York Stock Exchange, 1897

New York Stock Brokers: E. C. Humbert & Son

E. C. HUMBERT & CO.

Dave Thompson scan

On February 1, I posted the story of the near death of broker Thomas Thorne, and the mortal injury of his coachman in a buggy accident.  In June 1906, founder of the firm E. C. Humbert & Son perished from an accident involving his carriage and an automobile.  Even for the wealthy moving at horse-drawn speeds, transport was dangerous in early 20th century America.

Just how many automobiles were there in 1906?

From the New York Tribune, June 19, 1906, page 3:

E. C. HUMBERT DIES FROM INJURIES.

Head of Brokerage Firm Was Thrown from Carriage in Collision with Automobile.

Orange, N. J., June 18 (Special).--E. C. Humbert, father J. J. C. Humbert of Madison, and senior member of the firm E. C. Humbert & Son, brokers, of New York, died today at his son's home.  Mr. Humbert's death is the result of injuries received on June 2, when he was thrown from his carriage in a collision with an automobile driven by Frederick Clark of Tarrytown, N. Y.

Following the accident Mr. Humbert was carried in an unconscious condition to his son's home, where he has since been cared for.  Because of his advanced age and the severity of the shock he sustained, the surgeons held out little hope for his recovery from the start. Clark is under $500 bond to appear at the next term of court.

New York Stock Brokers: Worden & Company

WORDEN & CO.

Dave Thompson scan

Daniel T. Worden was the son of Admiral John Worden.  When Admiral Worden was a Lieutenant, he commanded the ironclad Monitor during its famous battle against the Confederate ironclad Virginia.

Recall this post from October 2011 on the Tilghman brothers, NYSE brokers whose Confederate General father fought and died at Vicksburg.  I wonder how Mr Worden and the Tilghmans felt about each other?

Admiral John Worden

First Commander of the ironclad Monitor

 

New York Stock Brokers: Harris & Fuller

Advert from a 1928 edition of Cornell Alumni News, a generation beyond the stamps cancelled in 1899 below.

HARRIS & FULLER,

APR

10

1899

New York

Langlois scans

Harris & Fuller memorandum of sale of 300 shares of the Mobile & Ohio Railroad to the broker S. F. Johnson.

Partners in Harris & Fuller, Smith Harris & Henry Fuller:

New York Stock Brokers: Edwin B. Havens & Company

E. B. H. & Co.

JUL

24

1900

Dave Thompson scan

Edwin B. Havens was an avid yachtsman.  A photo of his ATHLON sloop, flying his private colors, can be found at The Rosenfeld Collection of the Mystic Seaport website.

New York Stock Brokers: W. S. Lawson & Company

William Sheldon Lawson and his firm had offices in New York and Boston.

W. S. LAWSON & CO.

APR

5

1899

NEW YORK

W. S. LAWSON & CO.

FEB

1

1901

NEW YORK

Langlois scans

W. S. Lawson memorandum of sale for 100 shares of the Mobile & Ohio Railroad

From "Illustrated Boston, The Metropolis of New England", 1898:

W. S. LAWSON& CO., Bankers and Brokers, No. 14 Exchange Place.— The influential position held by Boston in the financial world is chiefly due to the enterprise and ability of her leading bankers and brokers, who have procured the capital and freely used the same for tlie development of the great railway, mining and manufacturing interests of the country.  In this connection it is a pleasure to make prominent mention in this commercial review of the city, of the widely known and reliable firm of Messrs. W. S. Lawson & Co., bankers and brokers. No. 14 Exchange Place. The firm's headquarters are in New York, at No. 49 Exchange Place.  The New York office was established in 1876, and the Boston office in 1881. The individual membersof this firm are Messrs. William Shelden Lawson, member of the New York and Philadelphia Stock Exchanges, Harry A. Day, member of the New York Stock Exchange, Fisher Howe, Jr.,  member of the Boston Stock Exchange, and Bennet H. Preston.  The firm occupy in Boston well equipped offices, with private wires to New York, Philadelphia and Chicago, and their facilities for transacting business are of a very complete character. Messrs. W. S. Lawson & Co., purchase and sell for cash or on margin all stocks, bonds, government and miscellaneous securities as listed on the various Stock Exchanges, also grain, provisions, petroleum, mining stocks, cotton, etc. This firm has been noted for obtaining early and accurate information as to the state of the different markets, and numbers among its permanent customers many active operators and wealthy investors. The Chicago correspondents of the firm are Messrs. Counselman, Day, Schwartz and Dupee.

New York Stock Brokers: John H. Jacquelin & Company

J. H. J. & CO.

JUL

8

1898

New York.

Dave Thompson scan

John H. Jacquelin, Member of the New York Stock Exchange

1897 photo from King's Views of the New York Stock Exchange

Jacquelin's collection of photos of past presidents of the New York Stock Exchange were used by Moses King in his 1897 book.

Other John H. Jacquelin & Co. partners with seat on the NYSE:

John H. Jacquelin & Company could be generous.  The November 14, 1916 edition of The New York Times shared this great story:

TELEPHONE CLERK TO GET 'CHANGE SEAT

Employers Will Reward John Ahearn, in Their Service for Fifteen Years,

PRECEDENT IS SHATTERED

Jacquelin & Co. Are Latest Wall Street Firm to Bestow a Membership as a Gift.

A second uniformed employee of the Stock Exchange is to be advanced to full membership on the board as soon as John H. Jacqelin & co., 52 Broadway, have completed arrangements for the purchase of a seat for John Ahearn.  Ahearn has been chief telephone clerk on the Exchange for the Jacquelin firm for fifteen years.  Last week Underhill & Gilmor bought a seat for Philip Miller, sergeant of the messenger boys on the floor.

These promotions of employees to membership on the Exchange caused considerable comment in the Street yesterday.  In the past the Stock Exchange, with its membership limited to 1,100 men, has been considered a rather exclusive club, but the signs point toward a distinct change in this respect.  The break from precedent came first last Spring, when S. S. Schuyler of Schuyler, Chadwick & Burnham bought a seat for one of the firm's office force as a reward for long and skillful service.

One reason ascribed for the promotion of Stock Exchange employees is the heavy business done in securities these days.  Messengers and telephone clerks of long experience are qualified to step right into the crowds on the floor and hold up their end.  They become distinct assets to their firms without a period of "breaking in."

John H. Jacquelin & Company are one of the big five odd-lot houses, the details of whose business on the Exchange have expanded largely since the period of million-share days began.  The firm already has six floor members, and like other odd-lot firms, has been forced to unusual exertions to execute its orders.

New York Stock Brokers: Thomas W. Thorne & Company

T. W. THORNE & CO.

JAN

16

1899

Dave Thompson scan

Thomas W. Thorne, Member, New York Stock Exchange

Photo from King's Views of the New York Stock Exchange

Mr. Thorne nearly died in a horse and buggy accident in 1905.  Apparently his survival was in part due to a rather amazing and loyal coachman.  The New York Times reported in its Christmas Eve edition of 1905:

BROKER THORNE IN RUNAWAY.

He and His Brother Have Narrow Escape--Coachman May Die.

Special to The New York Times.

NEW ROCHELLE,  Dec. 23.--Thomas W. Thorne, the broker, and his brother, Newberry Thorne, the yachtsman, were thrown from a carriage in a runaway accident here this afternoon and barely escaped death.  The coachman, Michael Cudahy, who clung to the reins in an effort to save his employer, was thrown against a stone wall and is dying of a fractured skull in the New Rochelle Hospital.

Cudahy has been in the employ of the Thorne family for thirty years, and said to be the richest coachman along the sound.  He owns half a dozen houses in New Rochelle, and is a stockholder in several corporations.  The Thorne family had so much confidence in him that they would never permit anyone else to drive for them.  If Cudahy was off duty they would leave the horses in the stable and walk to the railroad station.

The runaway occurred this afternoon as they were leaving their country place at Davenport Neck.  Cudahy was just drawing out of the stable when one of the large doors, blown by the wind, struck the rear wheels of the wagon.  This caused the horses to take fright, and as they were running away, Thorne and his brother jumped.  They escaped with a few bruises.  The coachman held onto the reins until the carriage struck the stone gateway and was wrecked.  His head struck the wall, and received a fracture on the right side of the head.  He was removed to the hospital, where an operation was performed as soon as possible, but he had not gained consciousness at a later hour tonight.

New York Stock Brokers: H. B. Hollins & Company

Classified advertisement

New York Evening Post, February 9, 1889

H. B. HOLLINS & CO.

NOV

29

1898

N. Y.

Thompson scan

H.B.H.&C.

JAN

2

???

Langlois scan

Harry B. Hollins having his shoes tended to in 1903.  His daughter Marion is holding the dog.  This photo came from Marion's scrapbook.

H. B. Hollins was a good friend and frequent business associate of J. P. Morgan.  Their offices faced each other across Wall and Broad Streets.

Other members of Mr. Hollins' firm included Frederick Arden and James Harriman. 

A copy of R175 cancelled by H. B. Hollins & Company was posted on this site in October 2011.

New York Stock Brokers: Harry I. Nicholas & Company

Classified advert, New York Evening Post, February 9, 1889

H. I. N. & Co.

AUG  14   1899

Thompson scan

  

New York Stock Brokers: Edward L. Oppenheim & Company

E.  L.  O.  & Co.

NOV    16    1900

NEW YORK

Dave Thompson scan

The New York Times, January 1, 1886:

E. L. OPPENHEIM & CO.
BANKERS & BROKERS.

Among the prominent banking and brokerage firms of New York that of E. L. Oppenheim & Co. has always been looked upon as one of the very strongest.  It was established in 1862, and has always promptly met each and every one of its engagements.  The offices of E. L. Oppenheim & Co. are at Nos. 51 and 53 New street and No. 42 Broadway, with a branch at No. 91 Leonard Street.  They transact a general banking and brokerage business in stocks of all kinds, bonds, petroleum, cotton, grain, provsions, etc.  They are members of the Cotton and Stock Exchanges of New York, and also of the Chicago Board of Trade, the latter place being connected with their New York office by private wire.  The members of the firm are Edward L. Oppenheim and Walter Del Mar.

New York Stock Brokers: Harris Hutton & Company

HARRIS HUTTON & CO.

SEP

24

1901

Langlois scan

The New York Times, November 17, 1900

BROKERS INITIATE J. S. HARRIS.

Polish His Shoes with Ink, Shave Him with a Shingle, and Write on Him.

James S. Harris of Harris, Hutton & Company, who bought the Stock Exchange seat of F. D. Bangs of Boston was duly "initiated" yesterday on the floor of the Exchange.  As he had made no preparations to neutralize the work of initiation, the proceedings were very simple as compared with the "pajama seance" to which H. Archibald Pell was treated recently.

In the case of Mr. Harris, the brokers polished his shoes with ink, shaved him with a shingle, and inscribed the autographs on his collar and shirt front.  If they had planned to do anything more they forgot it.

New York Stock Brokers: Halle & Stieglitz

Advertisement, NY Evening Post, January 7, 1898

HALLE & STIEGLITZ,

AUG

11

1899

NEW YORK

Thompson scan

Advertisement, NY Evening Post, January 4, 1904

New York Stock Brokers: William Morris Imbrie & Company

WM. M. IMBRIE & CO.

SEP

30

1898

Thompson scan

William Morris Imbrie, member NYSE

New York Stock Brokers: Hopkins Brothers

HOPKINS BROTHERS

DEC

15

1899

NEW YORK.

Thompson scan

The Hopkins Brothers embroiled themselves in the middle of an election wagering escapade in 1897 the same year the pictures above were taken.  The following article concerns the 1897 race for Mayor of New York and the three contenders for the job: Mr. Low, Colonel Tracy, and Robert Van Wyck.  Mr. Van Wyck would win as a part of the Tammany Hall ticket.  As The New York Times reported on October 21 1897:

BLUFFING IN WALL STREET

Col. Swords Goes There Ready to Wager from $1000 to $5000 on Tracey.

BROKERS EASY TO TAKE IT

He Puts Up a Few Minor Wagers and Through a Friend Agrees to Take the Larger Sum, but Fails to Reappear.

Wall Street brokers who bet--and who when they bet like to see the money put up--were in anxious mood yesterday.  It was all on account of the amicable Colonel Swords whose province it is whenever an election is pending to drop down on New York and offer to bet large bundles of money on whoever his party's candidate may be.

On Tuesday Col. Swords descended into the depths of Wall Street.  He had heard discouraging tales from the Stock Exchange district.  What especially had stirred up the brave man was that somebody could be found in Wall Street willing to bet that General Tracy would not poll more votes than Mr. Low.  Col. Swords had figured out that General Tracy is to receive about 100,000 majority over all the other candidates combined and the suggestion that any one candidate was going to come anywhere near approaching Gen. Tracy fired the heroic soul tremendously.

Down in Wall Street, Col. Swords came across a cheery friend in Franklin W. Hopkins of the Stock Exchange house of Hopkins Brothers, and through Mr. Hopkins he learned that it was too true that cynical brokers were ready to bet, and bet heavily, against what Swords was pleased to call Gen. Tracy's walkover.  It was even true, so Mr. Hopkins blandly revealed that it would be easy to get big bets that Mr. Tracy would not outrun Mr. Low.

"Do you suppose they'd bet $1,000 even?" was the anxious inquiry.

Mr. Hopkins thought they would.

Col. Swords put some hundred-dollar bills into his friend Hopkins's possession, and Mr. Hopkins went into the Stock Exchange crowd to return a little later with a report that all the money had been taken.

"And do you think you could persuade them to take as much as $5,000?" Col. Swords seemed still exceedingly anxiously to get quickly into a "good thing."

Would Like More Than $5,000

Mr. Hopkins made another tour in among the brokerage bretheren.  In the space of one minute and a half he had obtained enough information to satiate every bit of curiosity in the Swords outfit.

"You can get your full $5,000."  This was the information provided for Col. Swords.

"And did you take the whole amount?"  Such the eager tone of Col. Swords.

"Did you give me the whole amount?" This the bland voice of Broker Hopkins, business man, not politician.

The Colonel looked pained.  But the Colonel was a soldier still.  And with heroic front said he this:

"Go back into the Stock Exchange, young man, and tell those soulless wretches there that though I don't happen to have brought the rest of this money today I'll be here tomorrow morning early, and the funds will be here too.  Don't let them get away.  Hold them to their promise to let me meet them tomorrow; don't let them realize too quickly the dreadful risk they are taking in betting with Col. Swords, THE Col. Swords."  Then up town the brave man hurried taking with him a memorandum list of about a score of New York Stock Exchange brokers, each of whom was yesterday in quest of a gallant Colonel lost, strayed, or stolen, for through all the long day one Swords came not, neither Swords nor the cash of him.

Luckily for Franklin W. Hopkins, (business man, not politician) he underwrote none of the uncovered bets.  Mr. Hopkins personally feels confident, he says that Col. Swords, after all, will finally appear, and that equipped with ample funds.  This cheerful opinion was not at the end of business yesterday, however, quite universal under the eaves of the Stock Exchange.

Betting on Van Wyck.

There was a little "bluff" betting in Wall Street yesterday.  The quotations on Low beating Tracy were 2 to 1.  E. B. Talcott, of Bell & Co., who are said to do the Tammany wagering, offered $2,800 to $4,000 that Van Wyck will get more votes than Tracy and Low together.  Davis Johnson of the Stock Exchange booked a bet of $5,000 to $2,0000 on Van Wyck "against the field."

*******

Aspirants in the 1897 race for Mayor of New York:

Robert Van Wyck, General Tracy, and Seth Low

The Tammany Hall candidate, Mr. Van Wyck, won in a landslide.

Colonel Swords lost his money on these bets; I suppose Franklin Hopkins became something of a hero to his fellow brokers on the Exchange who made so much easy money off Colonel Swords.

New York Stock Brokers: Walker Brothers

WALKER BROS.

MAY

5

1902

NEW YORK.

R171p block of 4

Langlois scan

John Yates Gholson Walker and his brother Norman Stewart Walker organized the Walker Brothers brokerage firm in 1895.  They were the sons of Maj. Norman Stewart Walker of Richmond, Va., the purchasing agent for the Confederate Army in Bermuda, who left the United States to engage in business in England after the Civil War.