Business: Young Counselors

Charles Willard ("Bill'') Young Jr. was five years out of Yale's Sheffield Scientific School before he decided to strike out for himself. He wanted to be an investment counselor. He persuaded his friend James Henry ("Jimmy") Ottley, who was one year behind him in college, to go into partnership. Bill Young had Wall Street experience. Jimmy Ottley had the management of a $7,000,000 estate which his father had accumulated as publisher of McCall's Magazine. Young & Ottley became "managers of investment funds'' in 1929. First thing they did was to call the stockmarket...

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