Halle & Stieglitz

Halle & Stieglitz

Industry	Financial services
Founded	1890
Founder	Stanley J. Halle
Area served	Paris Lugano Switzerland
Key people	Jacques S. Halle (co-founder) Roy Neuberger

Established in the 1890s, Halle & Stieglitz transitioned from a partnership into a corporate entity by 1970, engaging extensively in brokerage and underwriting activities. Around 1973, the firm grew through a merger with another brokerage, forming Halle & Stieglitz, Filor Bullard Inc., which expanded its domestic presence from eight to eighteen offices and maintained international branches in Paris and Lugano, Switzerland.

Partnership

During the 1950s, The New York Times chronicled the company's expansion as new partners joined the firm.

Corporation

When incorporated in 1970, Stanley J. Halle—son of co-founder Jacques S. Halle—was appointed honorary chairman. Stanley had been part of the firm for many years, becoming a general partner in 1915 and advancing to senior partner by 1950.

Timing

Stanley Halle assumed the role of general partner shortly before his father’s death in 1916 and held the honorary chairman position until his own passing two years later.

In 1977, the company initiated legal action in Halle & Stieglitz, Filor, Bullard Inc. v. Empress Int'l, Ltd, alleging that Empress engaged in coercive and unfair tactics detrimental to public shareholders. While some financial damages were recovered, the firm pursued the lawsuit to safeguard hundreds of public investors who owned Empress stock but lacked individual means to challenge the company. Despite a federal judge’s hesitation to intervene—limiting rulings to cases with clear federal importance—the firm continued its efforts.

Originally established as a family trust fund, Empress broadened its capital base by accepting external investments but was accused of favoring its own interests over those of outside shareholders. The financial ramifications were significant: Empress stock initially traded at $14.50 per share but was later repurchased by Empress at $4.50 per share.

Other fame

Roy Neuberger, who joined Halle & Stieglitz in 1929 as a "runner" earning $15 weekly, met his future spouse in 1930 while both were employed at the firm.

80th anniversary

The firm's eightieth anniversary in 1970 was marked by a distinguished speech delivered by economist Milton Friedman.