Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-20

Not in years have Eastern born
men, particularly sons of New Eng
land states. been so prominent in the
affairs Of Chicago as now, although a
recent investigation has shown that
Western men are in the majority in
the big business in the city. How
ever, the presidents of three big banks
are Eastern born-Charles l.. Hutch
inson, of the Corn Exchange Ma
tional, Norman w. Harris. of the
Harris Trust INC Savings bank. and
Edward S. Lacy of the Bankers Ma
tional. Mr.. Hutchinson was born in
Lynn, Mass, but spent his boyhood
in Chicago; Norman w. Harris was
born in Berkshire county, Vermont,
and stayed among the Berkshire hills
until he was sent off to an academy
at Westfield, Mass. George F. Stone,
secretary of the Chicago board of
trade, born at Newburyport, Mass,
began his business life i'm Boston and
was president Of the Corn Exchange
there in 1S71-72. The New England
Society of Chicago includes. also, W.
II. McDoel, president of the Monon
railroad, w. NJ. Hoyt, "a wholesale
merchant. President +. f. GetcheIl.
of the Chicago real estate board, T.
Edward Wilder, general secretary Of
the Association of Commerce, w. w.
Dudley, president Of the National Fire
Protection association. several judges
and many prominent lawyers. On the
other hand, the anne which are best
known the world over are distinctive
ly Chicago names ~ Mccormick, AR
mour. Swift-or the names of men
in the West, such as George NJ.
Reynolds, president Of the American
Bankers association, T.. II. Gary,
chairman of the board of the Steel
trust, of course, is a Chicago man,
Frank A. Vanderlip, Norman B.
Beam and John W. Gates and r.
p. Shonts, Paul Morton and others
are Western men who have gone to
the East. James b. Forgan, president
of the First National bank and Hi
n. Sager, of the board Of trade.
distinguished representatives OF
tho foreign born population of this
city. Mn. Forgan being a native of
Scotland, and Mr.. Sager of England.
one result of the Vests growing
favor for listed stocks and bonds for
Investments was shown this week
when the Chicago stock exchange
doubled the size of its quarters in the
Bookcry. The transactions on the eX-
thangc have increased rapidly I'm the
few months. many orders coming
the East as Well as West because
the Chicago exchange has become the
market for the small-lot buyers. II is
tweuty-SiN years since an assem-
hly Of brokers was held on the floor
of the old call board room and steps
taken TO organize the present eX-
change. a plan, the members of which
were Charles Henrotin. Edward l.
brewster. George r. Wright and Will
liam %. Cole. The organization agree
ment of the exchange is famous as the
thing on record we. the uu-
d~trs.cucd. hereby agree 10 form a mu-
association Of brokers, 10 be
known as the Chicago stock exchange.
member 90 have a voice I'm tho
and an interest in the
funds The bond business on the
exchange last yea amounted to 81
566.l0O. but the total this year will
much more than double hat figure.
The group Of banks. the Chicago stock
exchange and the Chicago board OF
trade, which are now assembled on
Ia sale street represent transactions
running into billions OF dollars every
year the stock exchange and board
ot trade being the open market for