Harris, Hall

U. S. banks can no longer have investment affiliates, but U. S. bankers are still ready to take the risks & profits of a general securities business. Last week some officials of Chicago's $165,000,000 Harris Trust & Savings Bank, following the example of two J. P. Morgan partners, organized Harris, Hall & Co. to underwrite and distribute corporation securities. Head of the new company is Edward Bigelow Hall, a vice president of the Harris bank. Associated with him are Norman Harris (grandson of the Harris founder, son of the Harris chairman); Lahman V. Bower and Julien H. Collins, both Harris bank executives. The new company has thus far done nothing but register itself with SEC. Harris Trust & Savings Bank grew out of a bond-selling business started in 1882 by Norman Wait Harris, often cited as father of U. S. bond-selling. The bank itself was organized in 1907, with deposits of $3,534,000. The bank's investment affiliate, N. W. Harris Co., was liquidated in 1934 and Harris, Hall & Co. is its logical successor. Edward Bigelow Hall, 49, native of Ishpeming, Mich., graduated from Yale (Sheffield) in 1908, there became a good friend of Harold Stanley, head of the new Morgan Stanley & Co. After reporting for the Chicago Post and Herald & Examiner, Banker Hall became assistant publicity director for the Harris bank, was a crack bond salesman at the time of the War, learned while overseas that he had been made sales manager of the bank's investment department. Stocky, round-faced, brown-eyed, bald, Banker Hall lives in swank Winnetka, golfs in the 100's.

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