Business: Ad House Merger

Shortly after he lost his fortune in the Black Friday panic brought on by Jay Gould's gold corner in 1869, the late Berlin-born Albert Frank, then a banker, happened to suggest to a steamship line that it advertise its transatlantic service. Because the advertising drew passengers, he suggested to his banker friends that they advertise their services, helped them write their copy. Because the copy brought customers, Albert Frank founded in 1872, one of the first financial advertising agencies in Wall Street. Successfully fighting the prejudice of the times against advertising by...

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