Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-24
INVESTMENT FIRM
GROWS BY MERGER
Catchings and Williams at
Head of Giant Banking
Utility Group.
BY JOHN F. SINCLAIR.
special Dispatch to The Star.

NEW YORK, July 24-Two men,
Waddell Catchings and Harrison Will
liamS, met at luncheon and decided to
join hands in business. Often that
happens, but not in such a significant
way.
Mr.. Catchings is the active head of
the powerful Goldman-Sachs Trading
Corporation. which had assets of $780,
100000 February 81 last, when it
Securities Corporation Of New York,
doubling Harrison Williams, public util-
ity magnate, who does not operate
under his own name, but through the
Central States Electric Corporation
In fact, he is the Central States Elec-
trio Corporation.
In the new tie-up the joining of the
Goldman-SachS Trading Corporation
and Central States Electric will bring
TO the front another powerful banker
utility institution.
A word about the Central States
Electric, dominated by Mr.. Williams
1t was organized in 1912 and is the
largest stakeholder in the North Amer
lean Co., which has assets Of close to
q billion dollars. Central States is also
a large stakeholder in the Common
wealth Edison, Consolidated Gas of
Baltimore, Consolidated Gas Co. of New
York, Electric Investors, Inc; Public
Service Co. OF Northern Illinois, North
Electric Co. and Peoples Gas Light &
Coke Co.
Central States Electric lists its hold
ings at $50, 1891 900, but its interest in
North American alone, at the present
market value, exceeds $40, 000,0 900.
Probably $250,000,00O would be closer
to the real value of Central States Sc
curities. If one had bought a share of
Central States common in 1921 for SO
share and held 1t he would now have
so shares, each worth $50. In other
words, each So invested then is worth
$4,000 today.
Waddell Catchings has been in the
public eye prominently since the war,
but Harrison Williams is not so widely
known.
He was born in Avon, 56 years ago.
After he was graduated from the pub
lie schools he went to work, finally
entering the public utility field. He
borrowed and bought, and kept on.
Mr.. Williams is member of many
clubs in New York and elsewhere likes
TO play golf and travels a great deal on
his yacht. He appears little in the pub
lie press. But in Wall Street it is re-
ported that his earnings last year have
reached $200,000,000. Some place them
at even higher figure. But Mr.. Will
namS says nothing-for publication.
When the League Of Nations decided
to build a palace at Geneva, BIT archi-
tectS submitted plans.
The League of Nations committee,
not wishing to offend, divided the prize,
amounting to $4,000 Swiss francs, into
three claSSeS-nine awards of $4,000
francs each, nine class / honorable
mention of $500 francs each and nine
class 2 honorable mention of $500
francs each. Nearly every one was
taken care of.
But, after this had taken place. John
d. Rockefeller, jr., made q gift to the
League OF $2,000,000 Tor a library. So
the plans were changed again. Now
they provide for building in three sec
tons. One is for Secretarial use. and in
cludes the meeting hall for the League
Council. This is really the Office part
Of the building.
Another part is the enormous library
made possible by the Rockefeller gift.
1t is expected that before the library
Is completed 1t will have the capacity
for 1,000, 900 volumes dealing with in
formation questions. In addition it will
hold lecture room, work rooms, COM
mittee rooms and some rooms open to
the public.
The third section will be the princi-
pal part OF the building. 1t will have
a great assembly hall, with Is wash
rooms Tor the diderent committees, so