Evening star., 1932-01-02

FEanh
the American Gov
eminent throughout the Civil War. The
original partners were CHARLES D. Bar
ney and Jay Cooke, jr- son Of the ia
nous Jay Cooke, and the present firm
includes a grandson Of Charles D. Bar
ney and two great-grandsons Of Jay
Cooke.
The original firm began business in
Philadelphia SO years ago on a very
modest scale. Total assets were a seat
on the Philadelphia Stock Exchange
and a capital of $4,000. Twenty-ninc
years later, in 1902, a New York Office
was opened and soon overShadowed the
parent organization in Philadelphia
During the early days of the present
century, Charles D. Barney g. Co. took
a dominant position in Wall Street ac-
tivities and numbered among its more
active clients E. H. Hartman, William
Rockefeller, Henry Clay Frick, Daniel
Gray Reid and others.
Several Southern Offices.
The firms activities embrace a gen.
eral commission business in stocks and
bonds, extensive wire connections and
botr underwriting and investments.
Although the company has long had
private wires passing through Wash
ington and maintains active connections
in Baltimore, Richmond and winston
Salem, the opening of the Fifteenth
street Offices today establishes their flrst
direct contact with the National Capt.
tai since 1873. Seventy years ago, how
ever, the original house of Jay Cooke
& Co. played a vitally important role
in the financial history Of this city.
Charles D. Barney, founder OF the
present firm, although retired from
ic
living in Philadelphia. The present
senior partner is John w. Hanes, Yale
graduate and son of founder CT the
r. J. Reynolds Tobacco Co. Mr.. Hanes
is a director of the Bankers Trust Co.
and the International Mercantile Marine
Co. The other New York partners are
j. Ford johnson, jr.. also a Yale man;
Edwin A. Fish, a Williams graduate,
who, with w. Edwin Williams is in
charge of the investment department;
Charles B. Harding, who holds the
firms seat on the New York Stock
Exchange; John w. Castles, F. E.
Koechlein and w. J. Woods, Office man
ayers, end Joseph P. McCormac, in
charge of firm wires and branch Offices
The Philadelphia partners are Philemon
Dickinson, George Willing, Jay Cooke,
4th, and Ivan c. Flitcraft.
Morse Former Newspaper Man.
Frank P. Morse, who takes over the
management of the new Washington
office, has had long experience in bank
ing and brokerage business. His early
training was in the Riggs National
Bank. Following an interim in the
newspaper profession, during which he
was Sunday editor and dramatic critic
for the Washington Times and Wash
fV,rrf De- I'D.
respondent for the Philadelphia Record
and for various magazines, he returned
IL years ago TO the financial field, and
has since represented in Washington
Redmond & Co. and ]. and w. Selig-
man & Co., members of the New York
Stock Exchange.
Mr.. Morse will have associated with
him in the Washington Office a COM
plete organization built up over a long
period Of years, and which includes in
its personnel, among others, Philip P.
Friedlander, Richard w. Gable, Charles
V. Gibson, Richmond H. Gibson, Miss
Isabelle M. Parks, James A. Sexton, jr.,
and Miss M. Blanche Thompson.
Christmas Bonus Distributed.
Johnson & Adams, local insurance
firm and Southeastern managers of the
Continental Casualty Co., have made
their usual year end distribution of cash
bonus to all clerical employees of the
Washington office.
In making the presentation. Eugene
@. Adams, head Of the firm, announced
that the new business Of the Washing
ton office for December was the largest
since their office was established.
Greets Association offcers.
James L. Sherwood, president Of the
Northeast Building Association, was
host TO the officers and directors CT the
association at New Year party and
house warming in his new home, Fiji
teenth and Newton streets northeast,
last night. Following an elaborate en-
tertainment, buffet supper was served.
Officers Of the association, in addition
TO Mr.. Sherwood, are: John L. Knopp,
first vice president; Henry C. Althoff,
second vice president; S. S. Symons,
secretary; James A. Obenshaw, assist
ant secretary; Frank NJ. Hatley treas
urer, and w. S. Torbert, attorney.