Stock Exchange

"It is an old saying that great emergencies produce men who are competent to deal with them" began a resolution adopted last week by the Governing Committee of the New York Stock Exchange. The "emergency" was of course the October-November break. The man was Richard Whitney, vice president of the Exchange, acting as president while E. H. H. Simmons was honeymooning. Whitney qualities praised in the resolution were "courage, resourcefulness, and sound judgment . . . rare qualities of leadership." Oldsters, saying this was the first instance of personal praise by the Committee, wagered Mr. Whitney will be elected president of the Exchange next May. President Simmons, now serving his sixth term, had not desired his last nomination.

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