Word: stanleys
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Dates: during 1930-1939
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...newsmen into the long, narrow partners' room with its line of flat-topped desks. The desks were deserted but at the far end beneath a looming portrait of John Pierpont Morgan Sr. stood the firm's traditional spokesman, Partner Thomas Lamont, flanked by Partners George Whitney and Harold Stanley. The newsmen crowded in about the fireplace while Mr. Lamont announced the resignation of three Morgan partners, two partners of Drexel & Co., the Philadelphia affiliate...
Retiring Morgan partners are Harold Stanley, William Ewing and Henry Sturgis Morgan, second son of the firm's aging head. The two Drexel partners are Perry E. Hall and Edward H. York Jr. Also leaving are two key Morgan employes, Manager John Maurice Young of the bond department and Manager Allen Northey Jones of the statistical department...
...Under the name Morgan Stanley & Co., Inc. [they have] undertaken to organize and carry on a securities business of the character formerly handled by our firm," said Mr. Lamont. "We believe that the members of the new organization will be able, with the ample experience which they have heretofore had, to serve usefully the investment interests of the community...
...Then Mr. Stanley revealed that he would head the new concern, that it would start with $7,500,000 of capital, that it would open for business Sept. 16 at No. 2 Wall Street. Unlike J. P. Morgan & Co., the new house will not be a partnership but a closed corporation. Capital will be provided by sale of $500,000 of common stock and $7,000,000 of preferred, a good deal of which will be bought by certain of the 17 remaining Morgan partners. But all the common stock, which carries the sole right to elect directors, will...
...Stanley of Morgan Stanley & Co. (there is no comma, no hyphen) was the Morgan utility expert, having been admitted to partnership in 1928 when the firm was exploring the power industry. His father was William Stanley, engineer, inventor (thermos bottles) and founder of what is now General Electric's works in Pittsfield, Mass. Born nearly 50 years ago in Great Barrington, Mass., Son Harold was the eldest in a family of nine, and his brother Clarance is now head of the Mellons' Union Trust Co. in Pittsburgh. After graduation from Yale where he led the intercollegiate championship hockey team...