Forgan for Field

Announced last week was a notable name-change in the big family of U. S. investment banking houses. After the turn of the year the up-&-coming young firm of Field, Glore & Co. will be known as Glore, Forgan & Co. No new partners will enter the firm, no old ones depart. The change is simply belated recognition of a situation which has existed since the summer of 1935, when Marshall Field III retired from the business. Since then the two senior partners have been Charles Foster Glore and James Russell Forgan.

The name Forgan, new to the firm's stationery, is far from new to Chicagoans. Partner Forgan's father was the late David Robertson Forgan, founder of Chicago's old National City Bank. His uncle was the late great James Berwick Forgan, longtime head of Chicago's First National. One of Partner Forgan's cousins is executive vice president of First National today (James B. Forgan Jr.). Another cousin is an assistant vice president of Manhattan's National City Bank (Robert Forgan). The elder Forgans were Scots from St. Andrews, immigrants to the U. S. by way of Canada.

Following the family tradition, dapper, adroit "Russ" Forgan of Glore, Forgan & Co.--whose career at Princeton (Class of 1922) set a new high for social grace and near-professional virtuosity as leading man of the Triangle Club (musical comedies)--started in at commercial banking. He was a vice president of Chicago's National Bank of the Republic when he shifted to securities by joining Messrs. Field & Glore in 1931. He now heads the Manhattan office, while Partner Glore runs the Chicago office.

By the time Marshall Field decided to quit, his firm had achieved financial maturity. It is generally understood that he left his money in the business with no strings attached in the form of special or limited partnership interests. Glore, Forgan & Co. will start the new year as one of the top underwriting houses of the country.

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