A shy, dignified Chicago bachelor, Harold Leonard Stuart, 63, head of Halsey, Stuart & Co., last week walked off with $100,000,000 worth of bond business. Banker Stuart had won another round in his eleven-year-old war with Wall Street.
The big, erect, white-haired Chicagoan has long campaigned for open competitive bidding for securities in the railroad and utility fields, in place of the traditional, privately negotiated deals. Last week the syndicate headed by Halsey, Stuart plunked down the winning bid for the largest issue of railroad securities ever offered by competitive bidding—Great Northern Railway's $100,000,000 in refunding bonds (TIME, Sept. 4).
The...
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