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Died. Galen Luther Stone, 64, associate founder (with Charles Hayden) of Hayden, Stone & Co. (investments), of Boston and Manhattan; in Brookline, Mass., of heart disease. Financial editor of the Boston Advertiser in his 20's, he became apprentice, to acquire practical experience, in a brokerage firm; met Charles Hayden, 20-year-old ticker-boy-graduate of Massachusetts Institute of Technology; with him founded Hayden, Stone & Co. (of late $30,000,000 working capital), to which, say financiers, the greatest group of copper producing companies in the world owes its existence. Vessels of the Eastern...
...told that as the old year passes the Morgan partners assemble in the low chunky marble building which stands at Broad and Wall Streets, the solid fulcrum of the business world. They come to sit in quiet, awful council while Mr. Morgan apportions to each his share of the firm's profits for the previous year. Naturally the largesse of a Morgan is always large. To this partner several hundred thousand dollars; to that one a million; to another a million and a half. Part of the legend is, of course, that no partner ever questions Mr. Morgan...
None the less, last week this legendary Morgan Eve was the occasion for a crisp announcement to the press. It read: "Mr. Francis Dwight Bartow, Mr. Arthur Marvin Anderson and Mr. William Ewing, who have hitherto held procuration for our firm in New York, are this day admitted as partners in our firms in New York (J. P. Morgan & Co.), Philadelphia (Drexel & Co.), London (Morgan, Grenfell & Co.) and Paris (Morgan...
Died. Loton Horton, 72, President, Sheffield Farms Co., Chairman of Board, National Dairy Products Co. (world's largest dairy firm); in Nice, France; of pneumonia. He started life driving a milk wagon for his uncle...
Stone & Webster, famed New England engineering, construction and securities firm, announced last week amalgamation of Blodget & Co., Boston and New York investment house, with its securities department. The new company, to begin operations Jan. 1, 1927, with $10,000,000 capital, will be known as Stone & Webster & Blodget, Inc. Bayard F. Pope, now partner of Blodget and Co., will be President. This extension of investment-securities interests, said President-elect Pope, was necessary to care adequately for both the investor and Stone and Webster's rapidly increasing engineering-construction work...