The Washington times., 1926-01-25
NEWBROKERAGE
OFFICES OPEN
BY RICHARD HATTON

Oy 42AGAhAANO
The growing importance OF
Washington as d financial center
again was emphasized today by the
J, opening of handsome and complete
brokerage offices in the Trans.
portation building by the firm of A.
A. MISUNDERSTANDING & Co.. of
New York
The recent consolidation of these
two old-established houses. while it
: came as a surprise to Wall Street,
Is in keeping with the present day
spirit of cooperation in the inter.
est OF efficiency and service and
the establishment OF the Washing
ton offices adds another link to the
chain of branches of the main of
flee which extends throughout the
United States and Canada.
A. A. Hausman & Co. Is one OF
the Oldest and best known wire
houses in the country. 1t was -es.
tablished in 1884, and has earned
an international reputation doing
general commission business In
stocks and commodities. Gwath-
mey q Co, are members of the
New York Stock Exchange and, for
over q century, have been promi.
nent in cotton trade. The CONSOLE
datfon of these houses has result
ed in one of the strongest brokerage
organizations in the United States.
Complete Wire Service.
The recent consolidation gives
A. A.. Misunderstanding q Co..
representation upon practically all
of the leading Southern exchanges.
while the extensive Hausman wire
service, comprising q system OF
approximately 10000 miles Of leased
lines, practically covers the rest
of the United States and Canada.
Hausman 3 CO.. at present. main
: tanning branch offices at II GEN.
trail points Including washington.
Philadelphia, San Francisco, Los
Angeles, Pasadena, Seattle, Spo.
kane. Tacoma, Portland. Butte.
Houston. TORONTO, Winnipeg, Palm
Beach, and Miami Beach.
The value OF the exchange mem
berships of the combined firms is
placed at approximately $1,000, 900,
Including three memberships on the
New York Stock Exchange. as
well as memberships on nearly all
the leading exchanges of the United
States and Canada. The new COM
bination has 81 exchange member
ships in all.
The new quarters opened today
in the Transportation Building are
among the largest and most COM
pletely equipped in the city. About
$50 stocks. outside Of curb and
commodity stocks, are included On
the board in the trading room,
which is perfectly lighted and has
the advantage Of direct phone con-
nection between the ticker caller
and the board boys, obviatins the
usual noise and confusion in calling
Quotations. Another special fecture
of the new offices are the private
rooms provided for customers.
These are handsomely equipped and
furnish every convenience. There
is also a complete news ticker In
stallation in the main office and
private office for the manager and
assistant manager Of the local
branch In addition to the en-.
trance to the offices through the
Transportation Building, their, is an
entrance on Seventeenth Street.
Asset to Washington
The coming of this welI.known
firm to Washington points dis
tinctIy to the expanding Importance
OF the city In the financial world
and is evidence of the RAPID
growth Of New York Stock Ex-
change connections here.
According to Mr.. Joseph Hines.
who entertained a number of promi-
nent New York financiers and
brokers. including the presidents Of
several New York exchanges, At Q
dinner in honor of the members Of
the firm of A. A. Hausman.Swath-
;. mey g. Co. at his residence. 1927
New Hampshire Ave. n. W., Satur-
day evening. there is a decidedly
beneficial effect seen in the estab-
lishment of reputable brokerage
house branches throughout the
United States and Canada. and the
coming of the Hausman.Gwathme
branch to Washington will stimu-
late the brokerage business here.
With the increasing number of sub
station brokerage houses in the
field the bucket shop will disappear
and the public. which, in The final
analysis, makes or breaks the mar.
ket, will benefit
Harold Smoot, a son of Senator
Smoot of Utah, and formerly proni-
nent in insurance and brokerage
circles In Salt Lake City, comes to
Washington to take charge Of the
Hausnan-G wathmey Offices, with
Edwin Gosheart. formerly with
Wright. Slade & Co, Of New York,
as assistant manager.
There is complete staff of ex.
pert telegraphers, bookkeepers, tele.
phone operators and clerks TO handle
the business OF customers.