Business & Finance: 23 Wall Street

Just before the War the Yale College class of 1908 published a book in which appeared brief first-hand accounts of what its members had accomplished during the six-year period. The young men supplied their own epigraphs. One of them wrote: “After graduating I spent a thoroughly delightful summer traveling abroad with Davis and R. Noyes and, returning in September, started to work in the National Commercial Bank of Albany. . . .

“In the spring of 1910, I left Albany to come to New York to work in the financial department of J. G. White & Co., engineers and contractors, who do a large financial business as well, and have stayed with that company to date. The work is interesting, having to do with all sorts of development construction and financing in all parts of the world.

“I have luckily been able to keep up a certain amount of exercise and have also been fortunate in seeing a good many of the Class on everyday occasions as well as at reunions.”

That written, the particular young man soon became associated with the Guaranty Trust Co. of New York. That was in 1915. After one year he became a vice president in charge of the bank’s bond department. He developed the securities business so amazingly that the bank created a subsidiary—the Guaranty Co. The young man became its president. He also became a director in many a powerful company such as Bethlehem Steel Corp., B. F. Goodrich Co.

Last week at the age of only 42 years he reached what most men consider the very top of the financial world—a partnership in J. P. Morgan & Co., 23 Wall Street. This man is Harold Stanley, of whom few people had ever heard. Nor could many talk to him last week, for he was hunting quail in the South with President William Chapman Potter of the Guaranty Trust Co.