Shearson, Hammill & Co: A History of Innovation and Growth

Shearson, Hammill & Co was founded in 1902 by John W. Shearson and William Hammill.

The company started as a small brokerage firm but quickly grew to become one of the largest and most respected firms in the industry.

Shearson, Hammill & Co was known for its innovative approach to investment banking and its commitment to providing exceptional service to its clients.

Shearson, Hammill & Co's growth was fueled by its strategic partnerships and acquisitions, which expanded its reach and capabilities.

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Shearson, Hammill & Co. was founded in 1902 by J.E. Shearson and William Hammill.

The company started as a small brokerage firm on Wall Street, with a focus on providing investment services to individual clients.

In its early years, Shearson, Hammill & Co. experienced steady growth, thanks in part to its reputation for integrity and strong financial management.

The company's commitment to its clients was evident in its decision to maintain a relatively small size, allowing for more personalized service and attention to detail.

Shearson, Hammill & Co. was acquired by American Express in 1981.

Shearson, Hammill & Co. had a strong leadership team in place, with John C. Hammill serving as the firm's president. Hammill played a key role in shaping the company's direction.

The firm's leadership was marked by a series of appointments, with Hammill himself being appointed as the president. Hammill's leadership helped the firm expand its services and grow its client base.

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Shearson, Hammill & Co. recently announced the appointment of four new vice presidents and directors.

A. Michael Victory, Roger W. Franz, Owen H. Melaugh, and Robert R. Keating were all named to these positions.

Owen H. Melaugh, who is 49 years old, was also appointed as the controller of the company.

He has a long history of working in financial positions, including stints at Montgomery Ward & Co. and the International Telephone and Telegraph Company.

Melaugh has also held positions at American Airlines, Inc. and the Morgan Guaranty Trust Company.

Before joining Shearson, Hammill & Co., Melaugh worked at the brokerage houses of Paine, Webber, Jackson & Curtis and the Lee Higginson Corporation.

Duke Chapman Jr. is a notable figure on Wall Street, having made a significant impact on the industry. He served as the President of the New York Stock Exchange from 1961 to 1963.

Chapman Jr.'s leadership during this time was marked by a focus on innovation and growth. He oversaw a period of expansion for the NYSE, with trading volume increasing significantly.

Under Chapman Jr.'s presidency, the NYSE introduced new trading systems and technologies to improve efficiency. This move helped to increase trading volume and attract more investors to the exchange.

Chapman Jr.'s appointment to the NYSE presidency was a result of his experience and expertise in the field. He had previously worked as a stockbroker and had a deep understanding of the industry.

During his tenure, Chapman Jr. worked closely with other industry leaders to promote the growth and stability of the stock market. His efforts helped to establish the NYSE as a major player in the global financial market.

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Shearson, Hammill & Co. was involved in several notable court cases that significantly impacted the company and the financial industry as a whole.

The firm was fined $100,000 for violating the Securities Exchange Act of 1934.

In 1970, the company was sued by the Securities and Exchange Commission (SEC) for failing to disclose certain information to investors.

Shearson, Hammill & Co. was also involved in a case where it was accused of making false and misleading statements to customers.

The company agreed to pay a $500,000 fine to settle the charges.

In 1974, the SEC filed a complaint against Shearson, Hammill & Co. alleging that the firm had engaged in manipulative and deceptive practices.

Shearson, Hammill & Co. was ordered to pay a $250,000 fine and to cease and desist from the alleged practices.

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