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==First Securities Director of Massachusetts==
==First Securities Director of Massachusetts==
"John C. Hull, former speaker of the Massachusetts House of Representatives and now a member of the Industrial Accident Board, has been appointed Director of the newly created Sale of Securities Division of the State Department of Public Utilities. The work involves the regulation of the sale of stocks and bonds and the registration of brokers and salesmen." Hull served six more years as the first Securities Director of Massachusetts (1930-36) in response to October 1929.<ref>https://www.govinfo.gov/content/pkg/GPO-CRECB-1933-pt1-v77/pdf/GPO-CRECB-1933-pt1-v77-19.pdf</ref>
"John C. Hull, former speaker of the Massachusetts House of Representatives and now a member of the Industrial Accident Board, has been appointed Director of the newly created Sale of Securities Division of the State Department of Public Utilities. The work involves the regulation of the sale of stocks and bonds and the registration of brokers and salesmen." Hull served six more years as the first Securities Director of Massachusetts (1930-36) in response to October 1929.


The [[Boston Stock Exchange]] rivaled the [[New York Stock Exchange]] in 1928 the [[Wall Street Crash of 1929]] and the [[Great Depression]]. Hull was helpful in the passing of the [[Securities Exchange Act of 1934]] with his war on "unlisted securities" and gave testimony to the US Senate (Sen. [[Duncan Upshaw Fletcher]]) for work on the [[Pecora Commission]]. The Pecora Commission revealed that neither [[Albert H. Wiggin]] (born Medfield MA) nor [[J. P. Morgan Jr.]] paid any income taxes in 1931 and 1932; a public outcry ensued. <ref>http://www.taxhistory.org/thp/readings.nsf/ArtWeb/F04F120607F66E2685256DFE005981FC?OpenDocument#:~:text=In%20doing%20so%2C%20he%20demonstrated,It%20was%20a%20stunning%20revelation.</ref>
The [[Boston Stock Exchange]] rivaled the [[New York Stock Exchange]] in 1928 the [[Wall Street Crash of 1929]] and the [[Great Depression]]. Hull was helpful in the passing of the [[Securities Exchange Act of 1934]] with his war on "unlisted securities" and gave testimony to the US Senate (Sen. [[Duncan Upshaw Fletcher]]) for work on the [[Pecora Commission]].<ref>https://www.govinfo.gov/content/pkg/GPO-CRECB-1933-pt1-v77/pdf/GPO-CRECB-1933-pt1-v77-19.pdf</ref> The Pecora Commission revealed that neither [[Albert H. Wiggin]] (born Medfield MA) nor [[J. P. Morgan Jr.]] paid any income taxes in 1931 and 1932; a public outcry ensued. <ref>http://www.taxhistory.org/thp/readings.nsf/ArtWeb/F04F120607F66E2685256DFE005981FC?OpenDocument#:~:text=In%20doing%20so%2C%20he%20demonstrated,It%20was%20a%20stunning%20revelation.</ref>
[[File:A.H. Wiggin & J.P. Morgan, Jr. in 1917 in Manhattan at a war bond parade.jpg|thumb|left| Wiggin and [[J.P. Morgan, Jr.]] in 1917 in Manhattan at a war bond parade]]
[[File:A.H. Wiggin & J.P. Morgan, Jr. in 1917 in Manhattan at a war bond parade.jpg|thumb|left| Wiggin and [[J.P. Morgan, Jr.]] in 1917 in Manhattan at a war bond parade]]


Revision as of 18:39, 15 November 2020

John Carpenter Hull
Speaker of the Massachusetts House of Representatives
In office
1925–1928
Preceded byBenjamin Loring Young
Succeeded byLeverett Saltonstall
Member of the
Massachusetts House of Representatives
11th Worcester House District[1][2]
In office
1916[1]–1928
Member of the
Leominster, Massachusetts
School Committee[1]
In office
1912–1915[1]
Moderator of the
Leominster, Massachusetts
Town Meeting[1]
In office
1912–1915[1]
Succeeded byNone-office abolished
Personal details
BornNovember 1, 1870
Portland, Maine
DiedJanuary 7, 1947(1947-01-07) (aged 76)
Boston, Massachusetts
Political partyRepublican[1]
SpouseHarriet Johnson
Alma materBowdoin College, A.B., 1892; University of Michigan Law School, graduate of Harvard Law School.
ProfessionLawyer

General

John Carpenter Hull (November 1, 1870 – January 7, 1947) was a U.S. educator, lawyer, politician and the first Securities Director of Massachusetts [3]; duties now held the by Massachusetts Secretary of the Commonwealth William F. Galvin. Hull was descendant of John Hull of the "Hull Mint" (United States Mint) and the Quincy family.

Career

He was first elected in 1915 serving 11th Worcester, Massachusetts House District. Hull then served as the Speaker of the Massachusetts House of Representatives from 1925 to 1928. Hull served the state of Massachusetts for twenty years between 1916 and 1936 and came to be known as "Honest John" in the halls of the Statehouse in Boston chairing the committees of Education, Judiciary, Elections and Public Institutions. In 1929, he entered into an eight person race for Lieutenant Governor of Massachusetts. Treasurer William S. Youngman won the highly competitive primary election by 21,099 votes over Speaker of the Massachusetts House of Representatives John C. Hull.[4]

First Securities Director of Massachusetts

"John C. Hull, former speaker of the Massachusetts House of Representatives and now a member of the Industrial Accident Board, has been appointed Director of the newly created Sale of Securities Division of the State Department of Public Utilities. The work involves the regulation of the sale of stocks and bonds and the registration of brokers and salesmen." Hull served six more years as the first Securities Director of Massachusetts (1930-36) in response to October 1929.

The Boston Stock Exchange rivaled the New York Stock Exchange in 1928 the Wall Street Crash of 1929 and the Great Depression. Hull was helpful in the passing of the Securities Exchange Act of 1934 with his war on "unlisted securities" and gave testimony to the US Senate (Sen. Duncan Upshaw Fletcher) for work on the Pecora Commission.[5] The Pecora Commission revealed that neither Albert H. Wiggin (born Medfield MA) nor J. P. Morgan Jr. paid any income taxes in 1931 and 1932; a public outcry ensued. [6]

Wiggin and J.P. Morgan, Jr. in 1917 in Manhattan at a war bond parade

Records reveal Edward C. Johnson II applied to have the "Fidelity Fund" approved in May 1930; John C. Hull approved the "Fidelity Fund" - (FIDELITY FUND, INC. Incorporated in Massachusetts May 1, 1930. as an investment trust of the general man agement type. Officers: E. C. Johnson, 2d., Pres., E. C. Johnson, 2nd — Vice-Pres. & Treas.) The "Fidelity Fund" became Fidelity Investments. During the Great Depression in the United States the "Fidelity Fund" was the only fund approved by Hull.

Personal life

Hull was born November 1, 1870 in Deering, Maine[7] (now a part of Portland, Maine). John met Harriet Johnson, their children are as follows: Esther Hull Barrett - University of Michigan graduate (United States Department of the Interior), John Thornton Hull - M.I.T., Robert Johnson Hull - M.I.T.(BSEE (Oil Executive)), Commander Raymond M. Hull: graduate of Massachusetts Maritime Academy; graduate of George Washington University (later commanded a Fletcher class destroyer in the Pacific theatre WW II (United States Navy) and Lt. Commander Alden Edward Hull US Navy Air WW II (Bowdoin graduate).

Education

Hull received his A.B. from Bowdoin College in 1892, he attended the University of Michigan Department of Law.[8][1] He then finished up at Harvard Law School.

Career in education

Hull was the headmaster of Fryeburg Academy in Fryeburg, Maine from 1892 to 1895,[7] and the principal of North Adams, Massachusetts High School from 1895 to 1902,[7] Milford, Massachusetts High School from 1902 to 1906,[7] and Leominster, Massachusetts High School from 1906 to 1911.[7] He died in Boston in 1947 at the age of 76.[9]

References

  1. ^ a b c d e f g h Howard, Richard T. (1925), Public Officials of Massachusetts 1925-1926, Boston, MA: The Boston Review, p. 90
  2. ^ Howard, Richard T. (1920), Public Officials of Massachusetts 1920, Boston, MA: The Boston Review, p. 192.
  3. ^ https://digitalcommons.bowdoin.edu/cgi/viewcontent.cgi?article=1003&context=alumni-magazines
  4. ^ https://en.wikipedia.org/wiki/1928_Massachusetts_gubernatorial_election
  5. ^ https://www.govinfo.gov/content/pkg/GPO-CRECB-1933-pt1-v77/pdf/GPO-CRECB-1933-pt1-v77-19.pdf
  6. ^ http://www.taxhistory.org/thp/readings.nsf/ArtWeb/F04F120607F66E2685256DFE005981FC?OpenDocument#:~:text=In%20doing%20so%2C%20he%20demonstrated,It%20was%20a%20stunning%20revelation.
  7. ^ a b c d e Bowdoin College (1912), General Catalogue of Bowdoin College, And The Medical School of Maine 1794-1912, Brunswick, Maine: Bowdoin College, p. 250
  8. ^ University of Michigan Department of Law (1903), University of Michigan. Department of Law Annual Announcement 1902-1903 and Catalogue of Students for 1902—1903, Ann Arbor, Michigan: The University of Michigan, p. 60
  9. ^ "John C. Hull, 76, Former Speaker Of House, Dies". Fitchburg Sentinel. Fitchburg, Massachusetts. January 7, 1947. p. 1. Retrieved May 21, 2018 – via Newspapers.com.

Hull - pg 1077 - Unlisted Securities

  • [Moody's Manual of Investments, American and Foreign, Banks, insurance companies, investment trusts, real estate, finance and credit companies] "FIDELITY FUND 1930 - page 754"

FIDELITY FUND, INC. Incorporated in Massachusetts May 1, 1930. as an investment trust of the general man agement type. Officers: E. C. Johnson, 2d., Pres., R. B. Wil liams. Treas.; Gwen Shannon, Clerk and Asst. Treas. Directors (Showing banking and corporate connections): E. C. Johnson, 2nd — Vice-Pres. & Treas., In corporated Investors. G. R. Harding — Trustee. P. H. Theopold— Dir., Fiduciary Trust Co., Boston. Annual Meeting: Third Monday in February. Custodian of Securities: National Shawmut Bank of Boston.

Massachusetts House of Representatives
Preceded by Speaker of the Massachusetts House of Representatives
1925 — 1928 		Succeeded by
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