The Washington times., 1922-06-18
ADysag4EsHaHP~ BUSIN AND FINA ANCE ~#2
FINANCE
RUsiNEss M
By B. @. FORBES.

By B. @. FORBES.
Who's going to become kingpin
in Americas second largest inter
national banking house?
Wall Street Is keenly discussing
whether Mortimer l.. Schiff. son
and heir Of the former head Of tho
firm. or Otto H. Kahn will become
the leading partner.
Young Schiff-he Is no longer so
/ very young: he Is forty-five-has
been much in the public eye lately
through his crossing Of oral swords
with Sam Cntermyer over the Mid
vale.IRland Republic steel merger
under the name Of the North Amer
lean Steel Corporation. Verdicts
on Schiff's showing don't all agree.
Some contend that in him the
sharp-tongued lawyer met his
match; that. Indeed, Schiff returned
more than parry for parry. often
confronting the redoubtable and
domineering Untermyer.
Others hold that Schill protested
far too much ignorance of his
firms handling of the merger.
| Amazement was later expressed
when curb broker declared that
he, had received orders to buy the
when issued" stock over a privlte
wire from Kuhn, Loeb & Co. Then
when the Curb Association, after
defying Untermyer and his threats
| to put all concerned into prison IL
| dealings in what he called the
phantom" stock were not stopped.
suddenly backed down, whispers
| went around Wall Street that this
| move was instigated to avoid fur
ther quizzing into this phase of the
deal.
Be that as 1t may. Schiff has al
ready won quite a reputation for his
| ability as what Wall Street calls a
trading banker" that is, banker
who knows how to handle a deal.
When younger. Schiff was often ac-
cused Of being purse-proud. But he
| has lived that down. ] have heard
| bankers declare that they would
| rather do business with "Morty"
Schiff than with any other member
| Of Kuhn. Loeb & Co.
In my judgment, Schiff Is des.
tined to become a more and more
important factor In the world of high
finance. In addition to having learn.
| ed the financial game thoroughly,
he has contrived to find time to be.
| come quite a student and scholar
His occasional addresses-which. un-
like good many others, he writes
himself-are usually uncommonly
| sound.
Otto H. Kahn first sprang into
prominence because Of his close as
| sociation with Edward H. Hartman.
Hartman. who was no mean Judge,
had great respect for Kahn's ability.
| Since Hartman passed, Mr.. Kahn
has attracted chief notice by his
| countless speeches. 1t Is common
knowledge in financial circles that
there were times when relations be.
tween Kahn and his partners were
not exactly the friendliest.
Somehow. Kahn is not popular
with other big men in the financial
| community. Some Of them dislike
him because they are jealous Of him.
Others declare that they can't stand
his naughty manners Yet I recall
one Of the most prominent bankers
In America saying: When you
get to know him, Kahn is a first
SlhSo icho"s flis LldHueTlbTflb are n
bit upsetting: but he is really all
doesn't need to take a back seat to
| any one down here"
There 10 another Kuhn Loeb part.
| ner who isn't as well known as his
ability warrants, namely. Jerome j.
Hanauer. Mr.. Hanauer won his part
nership by sheer merit. II the whole
| truth were known, II would be found
| that Hanauer has had far more to
do than generally supposed with rail-
| way reorganizations conducted by
Kuhn. Loeb q Co. Those who have
had many business dealings with
him declare that he Ia as sharp as a
needle, has phenomenally sound
Judgment Of bond values, and il a
deep student Of finance.
The other Kuhn.Loeb partner.
Felix M. Warburg, is perhaps the
most public-spirited and philan.
thropically-inclined man in the whole
financial world. He gives the great.
est part Of his life. and not a little
or his money, to broad-gauge chari-
table work, never sparing himself
either day or night. Like young
.Oass - AsoShStCh0i, "
is more interested In using money
to help mankind than In making
money.
incidentally. piquant interest pre.
walls In Wall Street concerning the
future rivalry between J. p. Nor.
gan & Co.. and Kuhn, Loeb & Co.
The former has lost its foremost
partner. H. P. Dawson, while the
latter has lost its veteran head.
One or two Of the Morgan partners
have proved disappointments, hav.
ing utterly failed to fulfill the ex.
pectations formed Of them, based
on their records before entering the
Corner House.
Thomas w. Lamont 10 CARRYING
the heaviest load In Morgans these
days, but 1t il generally felt that he
cannot possibly keep up the pace
he has maintained since Dawson
caved in. What the House of Nor.
gan now needs, those in q position
to know declare, is q thoroughly.
trained, first-class banker of the
younger school, full Of mental and
physical vigor.
The next few years promise To