Weeden & Company
"In 1913, Frank Weeden (1893-1984) entered the securities business in San Francisco as a municipal bond salesman for a newly formed partnership by the name of Blyth-Witter. Frank was the eldest son of a sea captain and grew up aboard a three masted sailing ship (I have a good photo of that sailing ship, named the SS MARION CHILCOTT), along with his younger brother, Norman (1897-1970). Frank claims he never finished high school. His time with Blyth Witter was interrupted twice before he and Norman left to establish Weeden & Co. in 1922. The first leave of absence occurred with the closing of the NYSE in 1914 when he left to work in the lumber camps of Northern California where the pay was better. The second occurred when he joined the US Navy as an Ensign in 1917.
"Weeden & Co. started with a loan of $25,000 from Captain Weeden and slowly built a business dealing in California based municipal bonds, becoming known by its acronym DISCOB (Dealers in Seasoned California Bonds). In 1928 the firm raised $300,000 from friends and customers and began publishing its Balance Sheet and Earnings Statement, making it one of the first in the industry to do so. A 1933 tombstone for a new issue of Golden Gate Bridge and Highway District Bonds attested to Weeden’s standing in the industry when it listed the four underwriters: Blyth & Co., Inc., Bankamerica Company, Dean Witter &Co. and Weeden (another good photo of that tombstone)..." [1]
Board
Accessed September 2010: [2]
Outside Board Members
Internal Board Members
- Robert A. Cervoni
- Andrew Formato
- Craig S. Hetherington
- Lance F. Lonergan
- Christopher J. Mahler
- Barry J. Small
Contact
Resources and articles
Related Sourcewatch
- William E. Simon
- Alan Weeden
- Rick Weyerhaeuser
- Steve Leuthold - former board member
