Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1883-05-25
AsUCcEssrUL vERMoNTRR.
Tho New President OF the New York
Ntock ExChange-A Vermont Lads
Rise In the World.

New York Letter in Boston Herald
Mr.. A. s. Hatch, the new president Of the
Stock Exchange, has been In Wall street for
more than 20 years. He entered the street
comparatively unknown to-day his firm,
Fisk l. Hatch, which consists Of himself and
his first partner, 10 known all over the coun-
try and III the principal European and other
foreign banking centres.
He has worked hard all his life, but at SO
Is US hale and hearty Is many men OF fewer
years and who have struggled less. His
temperament, which IS sanguine and buoy
suit so may his success. But he has not
always been successful, though OF late years
he has been eminently so.
Mr.. Hatch Is a New Highlander, his native
place being little hamlet near Burlington,
| VT Ills father was DR.. Horace Hatch OF
Burlington, a physician Of the past genera
| ton, well known and respected throughout
the State. lie served his apprenticeship in
the banking business in New Haven, Ct. In
1859 he was offered the Office of cashier in
| the Bank of jersey City, an institution then
abode in Jersey City, and, while living there
met his original and present partner, Mr.
Harvey Fisk [also Vermonterl who was
then paying tclle. in the Bank OF the Com
monwealth in this city. Mr.. Hatch dis
charged the duties of cashier of the Bank OF
Jersey City for three years, or until March,
1869, when he retired to form a copartner-
ship with Mr.. Fisk under the present firm
title. Mr. Fisk had been in the street for
years, knew its methods and its people. An
old-established banking house that was ap.
pointed by Secretary of the Treasury Chase
TO sell or negotiate some OF the early issues of
The War Loan Bonds
made an arrangement with Mr. Fisk and
others in similar positions, by which the firm
obtained customers and theyoung men profit.
This, and the extensive and growing bust
ness in all classes Of government securities
ard obligations, induced the new firm to con-
fine its business to that class of securities.
The result is that 1t is to-day the most widely
known government bond house in the coun-
Try. They began business at 3S Wall street,
under Mechanics Banking association, but
remained there only about two years, when
they removed to the Offices they now occupy
on the ground floor OF the Continental bank
building in Nassau street, few doors above
Wall street. The buildings between it and
Wall street stand back several feet from the
street SO that the Office OF the firm commands
not only a view of the lower end Of Nassau
street, but also of Broad street and large
section of Wall street. In appearance the
Office is quiet and substantial.
APrivato Detective
is invariably to he found in the space around
the counter ratings, and squad OF little mu.
latto messenger boys Of uniform size and
complexion fit about the place. There is
never crowd in the place or any appearance
of rushing business, yet millions of dollars
of securities change hauds through the
agency of the firm every year Fisk 4
Hatch have been identified with every fiuan-
cial operation in which the government has
come in contact with Wall street since the
war. The firm has always been q stancl
, supporter of the credit of the government
Some OF It's war time circulars Offering bonds
for sale read like ralying cry. They have
issued hundreds of circulars relating to gov
eminent bonds, copies Of which fill two large
! scrap books preserved for reference. In due
time, the firm became an authority upor
questions relating to government bonds, botl
in New York and through the country. Ii
e response to personal inquiries the firm ISSUED
first pamphlet upon the subject. From
G year to year this publication has grown, unit
. the last edition, the seventh, entitled "Mcm
4 oranda Concerning Government Bonds" at
tanned the proportions of q book OF scvera
n hundreds OF pages. 1t is practically Wal
s street compendium, and is 81 highly resarde!
. | That 1t is used MS text book at Cornel
4 University and in other educational nstitu
tons. They aic distributed free and school
that desire them do not hesitate to sent for S
copies at time. This demand though ia
L from the intention OF the compilers, is cheer
fully complied with. Over 70, 900 copies o
:. the several editions OF the book have bee
distributed.
n The Literary Department
n of the fun is alone worthy of note. Beside
d the many exhaustive and valuable circular!
e and the work mentioned, the firm has pei
&c fccted recently comprehensive telegraph
il code for use between out of town banks an
It bankers and themselves. About 5000 copit
lie have been sent to the banks and bankers fc
rs confidential use. This and the other litcrar
l. work of the house is now performed by NJ
, Edward Fisk, son Of the senior partue
- who has genius for statistics. The entc
- =, prise of the firm was conspicuously illustra
- ed in its production OF an accurate copy
= book form Of the new tariff and postal law
~ =. 1t was issued before the treasury dcpartmei
u, u, could get one printed, and it is now sougl
=. for all over the world. Requests for it a
~ ~ received from China, Australia and other r
mote countries.
o. 1t is impossible in his business to speak
na' Mr.. Hatch Individually, the two partnc
e. ., have been so perfectly in accord, and Meth
has surpassed the other in activity or abilit
y They were prominent in every one of Il
:; bond funding syndcates, and predc
.. ed, when they first offered the four p
= ~, cent bonds, that, as compared with En-
o lish consols, they were worth al
III should sell at 11s. They were thu
' NJ selling at 102, and the prediction provoke
VI -, good natured badgering from some of thu
IL associates in the syndicate. The predict,
w. has been fulfilled, for the bonds have sold
IT, 100
ey MIR. Hatch is director in and and vic
uu president Of the Chesapeake and Ohio ra
a a,s road, ice-president of the Old Domino
( director in the St. Louis and San Francis
= railroad. The connection Of the firm wi
Ia the first-named enterprise resulted dissstro'
os a ly for it in 1873. But with indom!table
C. Pluck and Energy
od. they were soon in business again, and la
Oh. since wiped out all old scores. The OF
ct other railroad securities with which the a
NIB has been identified is the Central Pacific r,
~ road, the bonds of which they were active
! Of placing Mr.. Hatch joined the stock
and change in June, 1855, aud has been an act
anu member, especially in the bond departing
my 'ms ever since. Though the firm deals in stoc
.dN 1t is to make purchases and sales outright
no does no speculative business upon margi
,aJ The new president 10 one OF the busiest II
oat in Wall street, working from $3.50 OF
''' O'Clock every morning until 5 or 9 at nil
How he will find time to attend 10 his 1
duties, which ut present are arduous, ew
To tla II,t, a.; ina 10 ha CT