What Was In a Name

Oldest and largest of houses specializing in government bonds is C. F. Childs & Co. which in 1927 did a business larger than the total bond turnover on the Stock Exchange. Last week developments involving this firm gave rise to the saying that Mr. Childs is the first man to have sold his own name short with profit.

For many years Charles Frederick Childs, 54, was the head of C. F. Childs & Co. In May, 1928, he sold the firm to

American Co., San Francisco holding com pany. About a year later, American Co. passed into the control of Goldman Sachs Trading Corp. which bought entire con trol of C. F. Childs & Co. for $3,187,000. Meanwhile, Bond-broker Childs formed Childs Securities Corp., began dealing again in government bonds. Last week it was rumored that Gold man Sachs Trading was offering to sell C. F. Childs & Co. for a comparatively small price. Then the clay after the Prince & Whitely failure the announcement was made that Mr. Childs had bought back the firm's name, that Goldman Sachs Trading would liquidate the now nameless company, all of whose assets were to be in highly marketable securities. It is assumed that Mr. Childs paid much less for his name than he got for it two years ago.

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