E. A. Pierce & Co. was a securities brokerage firm based in New York City. Founded as A. A. Housman & Co., the firm was renamed for Edward A. Pierce in 1927. In 1930, following the stock market crash of 1929 E. A. Pierce acquired the brokerage business of Merrill Lynch. Ten years later, Merrill Lynch merged with E. A. Pierce.
History
The firm's earliest predecessor, Burrill & Housman, was founded in 1885 by William Burrill and Arthur Housman. Housman had apprenticed in his father's wholesale dry goods business and attended the Charlier Institute, at that time, the best private school in New York. Housman came to prominence in the early 1900s acting as the broker for J. P. Morgan and played a prominent role in restoring calm during the Panic of 1901.[1]
In 1890, when William Burrill left the firm he was replaced by Arthur's brother Clarence Housman in 1896 and later his other brother Fred Housman. The firm was renamed A. A. Housman & Company. In 1901, broker Edward A. Pierce joined the firm. Among the other partners in the firm were Bernard Baruch and his brother Saling Baruch.[1]
In 1907, Arthur Housman died at age 52. Over time, Ed Pierce