Business & Finance: No. 1 Wire House

On Thursday, May 9, 1901, a young lumber merchant from Maine named Edward Allen Pierce went to work in Wall Street as a brokers' clerk at A. A. Housman & Co. That day was historic: by noon Wall Street had been thrown into a panic by the Northern Pacific corner. Broker Pierce learned to work twelve hours a day, still does. Elected a partner in 1909, he served his firm faithfully but unspectacularly for 18 years. Then, on Jan. 1, 1927, he announced the formation of E. A. Pierce & Co. to take over...

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