New York Stock Brokers: Halsey & Hudnut

Princeton alumni magazine advertisement, October 27, 1898

HALSEY & HUDNUT.

DEC

21

190

NEW YORK.

Langlois scan

 

Princeton University, Class of 1886, After 25 Years:

R. T. HAINES HALSEY.

"R. T." was born in Elizabeth, N. J., August 28, 1865, son of W. F. Halsey and Fanny E. Haines. He prepared for college at St. Paul's, entered college in '82 and was graduated A.B. in '86. A brother, Dr. John Halsey, was in '91. 

From '86 to '88 he was in the well-known banking house of Brown Brothers & Co., New York, and from '89 to '91 with Homans & Co. In 1891 he bought a seat in the Stock Exchange and started business with Alexander M. Hudnut '81, under the firm name of Halsey & Hudnut. He has served as a Governor of the Stock Exchange for several years.

Aside from business, "R. T." has made a reputation as an author, having written in 1899, an elaborate, highly praised and expensive book, entitled "Pictures of Early New York on Dark Blue Staffordshire Pottery"; "Historical Introduction to the Letters of a Fanner in Pennsylvania" in 1903, and "The Boston Port Bill as Pictured by a Contemporary London Cartoonist", published by the Grolier Club in 1904. He prepared in 1906 the catalogue, with historical introduction, for the Boston Museum of Fine Arts on "American Silver and Silversmiths of the 17th and i8th Centuries", and he has contributed articles to Scribner's Magazine on "Josiah Wedgwood, American Sympathizer and Portrait Maker", and on "Edward G. Malbone, America's great 18th Century Miniaturist".

For ten years he has been on the Council of the Grolier Club and on January 7, 1910, Mayor Gaynor appointed him a member of the Municipal Art Commission. 

On January 18, 1894, he was married to Miss Helen Romans, of New York who died several years ago. On February 18, 1909 he was married to Mrs. Effie Underbill Grossman, daughter of John T. Underbill, of New York, in the Madison Avenue Presbyterian Church. Gaylord White performed the ceremony.

"R. T." belongs to the Century, Racquet, University, Grolier, Princeton, Midday, and Ardsley Clubs.

New York Stock Brokers: McKinley & Sherman

McKINLEY & SHERMAN,

APR

2

1901

NEW YORK.

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Only a few weeks before this stamp was cancelled, Mr. McKinley was quoted in The New York Times as being very bullish on the market.  NYT, March 17, 1901:

W. G. McKinley of McKinley & Sherman--The general situation would seem to be more favorable that at any time within the last month or so, and with corporation earnings increasing and a majority of the large financial interests on the bull side, it seems probable that a further rise, particularly in specialties, will be seen.

New York Stock Brokers: Woerishoffer & Company

Charles Woerishoffer was one of the most significant brokers and power players on Wall Street during the gilded age.  While he died in 1886, his legacy was still being recounted in the 1897 publication King's Views of the New York Stock Exchange.  His firm continued to operate for some years after his death.  Frederick Renner was an understudy of Mr. Woerishoffer and ran the firm during the 1898 tax period.

WOERISHOFFER & CO.

MAY

16

1901

NEW YORK.

David Thompson

Mead Johnson & Company

Spinoffs:  they don't just happen with TV sitcoms.

The firm of Seabury and Johnson was formed circa 1874 to market Benson's Capcine Porous plasters, which presumably used the oil of hot peppers in connection with some sort of poultice.  They utilized private die proprietary stamps, which won't concern us here but can be seen on my website at http://rdhinstl.com/mm/rs216.htm.  

Around 1885 Robert Johnson left the firm and formed a company with his brothers, including Edward Mead Johnson.  This was Johnson and Johnson, which continues today.  In 1896 Johnson and Johnson bought out Seabury and Johnson, but continued to operate it as a separate unit.

 

A Seabury and Johnson cover from 1899.  Several versions of these exist, usually priced to reflect their attractiveness.  

 

Johnson and Johnson used a private die proprietary stamp during the Spanish-American war tax period.  Its design mimics that of the familiar battleship revenues, minus ship.

The next spinoff came in 1897, when Edward Mead Johnson left the company to pursue his fortune with one he had created in 1895, the American Ferment Company, which marketed a digestive aid.  This company did not have a private die stamp, but their company name can be found on regular proprietary stamps.

In 1905 the American Ferment Company changed its name to Mead Johnson & Company.  In its day, the firm manufactured and marketed Pablum and Metrecal.  More recently it was acquired by Bristol-Myers Squibb, then spun off again as an independent company in 2009.  Its current flagship product is Enfamil.

New York Stock Brokers: Burras & Klopfer

Advert, New York Times, December 6, 1898

BURRAS & KLOPFER,

DEC  4  1900

NEW YORK.

Langlois scan

New York Stock Brokers: Pearl & Company

Mr. Pearl's firm was founded by his father in Nashville, Tennessee in the early 1800s.  Dyer Pearl was a presence on Wall Street for 54 years. 

PEARL & CO.

David Thompson highlight & scans

Scarce but ragged copy of R183 with Pearl & Co. cancel

New York Stock Brokers: Keep & Keen

KEEP & KEEN

JAN

27

1899

NEW YORK.

David Thompson scan

New York Stock Brokers: Johnson & Wood

JOHNSON & WOOD

OCT

5

1898

NEW YORK.

David Thompson scan & enhancement

J. P. Morgan's $2 Billion Trading Loss

When J. P. Morgan was still alive, his company used large volumes of 1898 series documentary revenue stamps.  Jamie Dimon, J. P. Morgan's current CEO has probably never seen these stamps from a very different time in American business, when his predecessor had a level of power and responsibility that Mr. Dimon can hardly contemplate.

J. P. MORGAN & CO.

MAR

28

1902

N. Y.

Langlois scan

Mr. Dimon, Pierpont is watching you, and probably rolling in his grave.  J. P. Morgan was the architect of stability through several panics, and the occasional creator of tempests in the market.  But he ran the most successful financial firm in the world.  Mr. Morgan's present successor is busy losing money.  Only in April did Mr. Dimon dismiss issues in his Chief Investment Office as a "tempest in a teapot".  Now the "too big to fail" bank, one that would get a tax payer bailout if in trouble, has been playing with fire and has blown $2 billion through the workings of its Chief Investment Office.  In the real world, you get fired for less.  Pierpont would have fired Mr. Dimon yesterday.  The Volcker Rule can't come fast enough. 

New York Stock Brokers: Asiel & Company

ASIEL & CO.

OCT

19

1899

David Thompson scan

Asiel & Company was established in 1878.  It continues today under the name Tradition Asiel Securities Incorporated.  Members of the firm in 1898 with seats on the New York Stock Exchange included Maurice Seligman and Louis Frankenheimer.

New York Stock Brokers: Rolston & Bass and Rolston & Hooley

R & B

die cut initals

ROLSTON & BASS

MAY

15

1900

*

Langlois scans

Rolston & Bass memorandum of sale for 100 shares of Mobile & Ohio Railroad stock to the firm Sidenberg and Kraus

Through the first years of the 1898 tax period, Rolston & Bass carried on a brokerage as named partners, along with the unnamed Edwin Hooley.  By 1901, however, Bass ceased to be a part of the firm.  See the handstamped cancels below for Rolston & Hooley, combined with the old R&B die cut cancels.

The New York Times reported on February 1, 1901:

The co-partnership between William H. Rolston, Walter A. Bass, and Edwin S. Hooley, unter the firm name of Rolston & Bass, has been dissolved.  William H. Rolston, member of the New York Stock Exchange; Edwin S. Hooley, and Peter Martin have formed a co-partnership, under the firm name of Rolston & Hooley, and will continue the banking and stock brokerage business.

ROLSTON & HOOLEY

MAY

3

1901

*

David Thompson scan

New York Stock Brokers: Edgar C. Jurgensen

E. C. JURGENSEN,

APR

2

1901

NEW YORK.

Langlois scan

Edgar Jurgensen began the 1898 tax period as a broker with Barnes Brothers.   By 1901 he was running his own self-named brokerage firm. 

*******

Mr. Jurgensen became a suspect in a bit of trouble in 1910 -- the story sounds like something from 2012.

The New York Times, December 15, 1910:

AUTO PARTY KIDNAPS CHILD.

Daughter of E. C. Jurgensen Taken from Mother -- Father Suspected.

Special to The New York Times.

LYNN,  Mass., Dec.  14. -- Marguerite Jurgensen, the eight-year old daughter of Mr. and Mrs. Edgar C. Jurgensen, was kidnapped by three men on Monday afternoon, and carried away in an automobile.  The local police first learned of the case this afternoon, when Mrs. Jurgensen and her attorney, Stephen Breed, left for New York.  The Jurgensens were separated two years ago, and to Mrs. Jurgensen was given the custody of the child.  It is believed that either Mr. Jurgensen or agents acting for him were responsible for the girl's disappearance.

John Jurgensen, father of Edgar C. Jurgensen and a grandfather of the kidnapped girl, denied last night at his home, 9 West Eighty-first Street, that his son had anything to do with the girl's disappearance, and disclaimed all knowledge of the kidnapping.  Edgar C. Jurgensen, who has been living with his father, could not be reached.  It was said that he was out of town on business.  At Police Headquarters last night it was said that no request had been received for aid in tracing the girl.  Neither Mrs. Jurgensen nor Mr. Breed could be found among the arrivals at the hotels.

*******

No readily available follow-up story is on the web to tell us what happened to Marguerite.  I believe, however, that Edgar was not unavailable due to an out of town business trip.  Draw your own conclusions.

New York Stock Brokers: Barnes Brothers

BARNES BROS.

NOV

22

1900

NEW YORK

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Edgar Jugensen began the 1898 tax period as a Barnes Brothers employee but then left to start his own firm.  It is possible to find stamps and memoranda of sale used and cancelled for the dedicated work of Edgar Jergensen.

Philadelphia Stock Brokers: William H. Hurley Jr. & Company

W. H. H. Jr. & Co.

OCT   10   1900

David Thompson scans

William H. Hurley Jr. ran the brokerage business in Philadelphia while his partner John W. Sparks held the seat and traded for the firm at the New York Stock Exchange.

New York Stock Brokers: Albert Loeb & Company

Albert Loeb was the senior partner in his brokerage firm.  He died in 1902 when he was 42 years old.

ALBERT LOEB & CO.

MAY

8

1899

N. Y.

Thompson scan

ALBERT LOEB & CO.

FEB

13

1901

N. Y.

Langlois scan

The New York Times, October 13, 1902:

Albert Loeb.

Albert Loeb, senior partner in the banking firm of Albert Loeb & Co. of 32 Broadway and 7 East Forty Second Street, living at 123 West Seventy First Street, died suddenly yesterday morning of apoplexy.   Mr. Loeb, with several members of his family, had been to Hot Springs for some little time past, and he returned to New York Friday, Mrs. Loeb remaining in the West.  Mr. Loeb suffered a shock Saturday evening, from which he did not rally, and died at 7:30 yesterday morning.

He was born in Cincinnati forty two years ago, and after receiving his early education there, entered the employ of a merchant house.  Coming to New York a few years later he obtained a position with Kuhn, Loeb & Co., later becoming a member of the firm Gernsheim & Co.  In 1893 Mr. Loeb went into business for himself under the firm name of Albert Loeb & Co. The other partners were Louis F. Josephthal and Louis F. Rothschild.

Mr. Loeb was a member of the Stock Exchange and a Director of the St. Louis and Southwestern Railroad.  He leaves a wife and three sons.

Insurance Companies: Maryland Casualty Company

MARYLAND CAS. CO

MAY

2

1902

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Corporate brochure marking the company's 50th anniversary

Founder John Stone looks like Robin Williams as Theodore Roosevelt in the movie Night at the Museum