Monday, October 20, 2008

Wall Street's Demise -The Early History

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October 2008 - Wall Street's Sad Demise


October 10, 1818 - John A. Brown (third son of Alexander Brown) sent to Philadelphia to open John A. Brown & Co., branch office of Alexander Brown & Son (Irish linen import business established in 1800 in Baltimore, MD)

1844 - Henry Lehman, immigrant from Germany, opened H. Lehman, small dry goods shop in Montgomery, AL; 1847 - Emanuel arrived, renamed H. Lehman and Bro.; 1850 - Mayer (youngest brother) joined business, renamed Lehman Brothers; became brokers for buyers, sellers of cotton crop; 1858 - opened office in New York.

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Henry Emanuel and Mayer Lehman
(http://content.answers.com/main/content/wp/en/8/8b/Lehman_Brothers.jpg)

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March 1863
- formed partnership with John W. Durr, in warehouse and commission business, named Lehman, Durr & Co. (above, 2nd floor of 2nd building on left in 1870s;
(http://216.226.178.196/cgi-bin/showfile.exe?CISOROOT=/photo&CISOPTR=3099)

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