Viewing page 153 of 178

This transcription has been completed. Contact us with corrections.

OLD BROKERAGE FIRM IN CHICAGO TO QUIT
Brewster & Co., in Business 66 Years, to Dissolve on June 30

Special to the NEW YORK TIMES
CHICAGO, June 14.- Russell, Brewster & Co., the oldest stock and bond brokerage house in Chicago, sent today the following notice to its customers:

"The firm begs to announce to its friends and clients that after having been in business for sixty-six years, it has decided to retire from active business as of the 30th day of June, 1938. The partnership will be dissolved as of that date.

"It's the swan song for our type of business," explained Walter S. Brewster, son of the company's founder and one of the principal partners. "We can't see any prospects for this business in the near future."

"We feel sure," he added, "that this type of business will come back because it is an essential unit of our economic system, but for those of us who are along in years it appears to be too great a load to carry."

The younger members of the firm, Mr. Brewster explained, do not feel that they want to carry on the business alone. Mr. Brewster is 60 and the other senior partner, Edward P. Russell, is 80.

The other partners of the firm are Robert J. Fischer and William W. Sutherland. Cordova L. Peniston, who became a partner of the firm in 1907, retired last April.

Transcription Notes:
Confirmed the name "Peniston" by looking up original article in the NY Times archive.