The Birmingham age-herald., 1918-05-04
Harding and Forbes
 Will Be the Men
By HOLLAND


 any disparagement of Eugene Meyer of Carolina with respect to their qualifica- tions for service on the greatest finance corporation ever organized under govern iuent auspices or any other, it can be said that the opinion of the leaders in the financial district is that W. P. G. Harding of the federal reserve system, and Allen Boyd Forbes will be in great measure influential in the management of this corporation. MT. Meyer and MT public ability which already MT. Harding and Mfr. Forbes have demonstrated that they possess. so that they will be known as worthy associates in the direction of this stupendous corporation.
 When MT. Harding was chosen a mem Der Of the federal reserve board at it's organization the appointment was spoken of with approval by banking authorities of New York For they had already learned something of his extra ordinary capacity as banker while president of a leading bank at Birmingham. By req son of his experience, his inhorn ability, 1 his energy and his possession of a sin 1 gularly accurate judgment, he is es-
 teemed as excellent an appointment to the war finance corporation as President Wilson could have made
 1 The career of Allen Boyd Forbes has l Identified him as one of the great forces | Of modern American construction fnanc- | ing. He is only 52 years of age and was trained as a lawyer, first at Chicago and afterwards at the Yale Naw school After 1 he received his diploma in 1888 he began 1 to practice law in Chicago, having no other purpose than to build up as rap 1 idly as possible fairly profitable prac- l tice. He must, however, in the three years while practicing law, have attract l ed the attention of men of great financial l capacity and high reputation, for he was ! urged 10 join the office of N w. Harris at Chicago where his duties were to be 1 partly legal buk mostly in connection with the handling of public utility bonds. 1 In due time MT. Forbes became partner l of this house and in 1902 was placed in charge of the New York offices. There he served with success which command I ed respect until at last the government, after the war began. called him to its service. In 1910 the firm was incorpor- ated and the name changed to Harris. Forbes & Co, and from that time until 1915 MT Forbes interest was largely in crea sed in the New York and Boston of- | fees Of the company.
 The corporation dealt only in govern ment, public utility and railroad com pany bonds, and in time obtained the largest line of private investors of any | financing institution in the United States.
 PROTECTING INVESTORS This undoubtedly is explained by the fa CT that undnr Nr EorheS' ma r,o crarnenf the corporation assumed an attitude of protecting investors, which is unique in all bond transactions. For the corpora ton has been known to pass up millions of prospective profits because it could not ssfely recommend the properties. It has as far as possible prevented speculation
 It has no Wall street house or address or stock exchange connection and in that respect is unique.
 IN GOVERNMENT SERVICE When the United States became one of the belligerents. Mir Forbes was made chairman of the committee on the pur- chase and sale of securities. This com mittee consisted of seven, among whom was J. P. Morgan. He also became chairman of the committee of the In- vestmeut Bankers Association of Amer ica. Then again he was chosen chairman of the capital issues advisory committee whose service was the authorizing cf the issues and sale of practically all forms of securities other than those of the railroads, all of this being for the pur- pose of protecting the government while floating Liberty Bonds. Now the Presi- dent has appointed him a director of the war finance corporation, and this brief and hitherto unpublished sketch of his career explains why President Wilson made this appointment. For more than year MT Forbes has served the govern ment at great personal sacrifice, which includes sacrifice of his business inter- ests.
 Personally, Mir. Forbes is one of the most charming of men. lie believes in outdoor exercise and can hold his own with any man of his age upon the golf links He is also greatly occupied in his leisure moments in reading standard works, including history, biography, eco ncmics and sociology. ].
 THAT GREAT CAR RODER
 When it was announced that the gov ernmcnt had placed with one of the larg- est of American industries an order for many thousand cars. the comment was frequently made in the business and financial district that it would have been impossible to execute an order of this
 kind within the time which the govern ment deemed necessary had it not been for the remarks ble constructive work of the late Frederick Heber Eaton. Al though Mir. Eaton lived long enough to know that the well conceived and de veloped constructive work which he be- gan and perfected was recognized as one of the best examples Of the modern eco homie spirit of unification and co-opera- tion nevertheless, he was deprived through his untimely death of the patr otic qualification which the placing of an order by the government of many thousand cars with his corporation would have given to him.
 The last of the reports which were