The
Municipal Forum grew out of a series of informal lunches in the 1930's
by a group of men in the municipal bond business. A number of the
people who used to attend those lunches included Dana B. Scudder of
National City Bank, Floyd Stansbury, and James J. Carpenter of Bankers
Trust Company, Glen Thompson of Chemical Bank, Wilbur Merritt of First
Boston Corporation and William J. Wallace and John F. Thompson from
Savings Bank Trust Company. Many in the group were in the Municipal
Credit Analysis side of the business; some like Floyd Stansbury and
Jim Carpenter were in the syndicate side. Most of the luncheon discussions
were informal among the participants, but there was much to discuss,
particularly municipal credits There had been many defaults during
the depression, and these were in process of being cured, largely
through negotiation with bond holders' committees. The usual format
was exchange of longer refunding bonds for those in default, some
with the same and some with lower rates of interest. Such exchanges
took place for Miami, Detroit, Atlantic City, Arkansas Highway bonds,
and many smaller issuers. New York City, though not in default, was
operating under a "bankers agreement" negotiated by then Governor
Herbert H. Lehman. Dealer firms and investment advisors were producing
much more credit research, and many of the luncheon participants were
engaged in this.
Jim
Carpenter was a gung-ho sort of person, and was a disciple of Dale
Carnegie ("How To Win Friends and Influence People"). It was this
background which led him to organize the Municipal Forum. Following
his initialive, Jim served as President for the first two years.
Membership
of the Forum has fluctuated over the years. In the mid-fifties, there
was a move to take "New York" out of the name in an effort to obtain
more non-resident members, but this change in name was not made. In
1983-1984 with a strong program and a push by the membership committee,
total members increased some 200 to about 450. (The name of Richard
Gage is mentioned in connection with this effort.)
In
the very early years, Forum membership was largely in the credit analysis
side of the business, but soon broadened to cover all aspects -- sales,
syndicate and trading in the dealer and bank dealer firms, intitutional
portfolio managers, municipal bond approving attorneys, editors of
trade publications, brokers who match trades between firms and provide
wire service access to markets, the rating agencies, and issuers,
especially New York State and City and the important issuing authorities.
Down through the years representatives of each of these categories
have been Presidents of the Forum and have served on the Board of
Governors.
Past
Presidents of the Municipal Forum 1938-2010
1938-40
James J.
Carpenter
Bankers
Trust Co.
1940-41
Cushman
McGee
R.W. Pressprich
& Co.
1941-42
Graig
S. Bartlett
Bankers
Trust Co.
1942-43
Charles
F. Aufderhar
Savings
Bank Trust Co.
1943-44
John J.
Rust
Equitable
Securities Corp.
1944-45
Phillips
T. Barbour
First Boston
Corp.
1945-46
Elmo P.
Brown
United States
Trust Co.
1946-47
David M.
Ellinwood
Moody's
Investors Service
1947-48
Leander
I. Shelley
Port of
New York Authority
1948-49
Paris Scott
Russell, Jr.
Glore Forgan
1949-50
Robert T.
Veit
Shields
& Co.
1950-51
Albert J.
Milloy
First Boston
Corp.
1951-52
Frederick
L. Bird
Dun and
Bradstreet
1952-53
John N.
Mitchell
Caldwell,
Trimble & Mitchell
1953-54
Fred D.
Stone, Jr.
Marine Midland
1954-55
Marquette
de Bary
F.S. Smithers
and Co.
1955-56
Rollin C.
Bush
First National
City Bank
1956-57
Henry Grady
Wells, Jr.
Wells and
Christiansen
1957-58
Robert W.
Fisher
Doremus
and Co.
1958-59
William
E. Bachert
The Bank
of New York
1959-60
David H.
Callaway
First Michigan
Corp.
1960-61
Eugene A.
Mintkeski
Port of
New York Authority
1961-62
George R.
Waldmann
Manufacturers
& Traders Trust
1962-63
Jerome C.L.
Tripp
Tripp &
Co. Inc.
1963-64
Donald D.
Miner
Chemical
Bank
1964-65
Winthrop
S. Curvin
Smith Barney
& Co.
1965-66
John B.
Dawson
Wood, King,
Dawson Logan
1966-67
L. Eugene
Crowley
Lehman Brothers
1967-68
Arthur R.
Guastella
Wainwright
& Ramsey Inc.
1968-69
Robert R.
Maller
United States
Trust Co.
1969-70
Frank E.
Curley
Dillon,
Read and Co.
1970-71
Roger S.
Phelps, Jr.
The Bank
of New York
1971-72
Alfred J.
Bianchetti
Dean Witter
and Co.
1972-73
Walter W.
Niebling
Merrill
Lynch
1973-74
John F.
Thompson
W.H. Morton
& Co.
1974-75
Henry Milner
Wertheim
& Co.
1975-76
Robert E.
Ferdon
Mudge, Rose,
Guthrie & Alexander
1976-77
Edwin A.
Bueltman
Bache, Halsey
Stuart
1977-78
Ernest J.
Childs, Jr.
The Securities
Corporation of Puerto Rico
1978-79
Frank J.
Guadagnini, Jr.
Marine Midland
Municipal Co.
1979-80
Paul J.
Finn
L.F. Rothschild
Unterberg Towbin
1980-81
Thomas S.
Kane
Kidder Peabody
& Co., Inc.
1981-82
George G.
Fleig
Continental
Illinois National Bank
1982-83
John B.
Feery
Prudential
Bache Securities
1983-84
Robert W.
Chamberlin
Dean Witter
Reynolds Inc.
1984-85
Richard
L. Tauber
Morgan Guaranty
Trust Co.
1985-86
Freda S.
Ackerman
Moody's
Investors Service
1986-87
William
J. Solari
Morgan Stanley
& Co., Inc.
1987-88
John H.
Allan
The Bond
Buyer
1988-89
Robert Zipf
AMBAC Indemnity
Corp.
1989-90
Leon J.
Karvelis, Jr.
MBIA Insurance
Corporation
1990-91
R. Fenn
Putman
Dean Witter
Reynolds Inc.
1991-92
Susan G.
Peabody
Alliance
Capital Management, L.P.
1992-93
Austin V.
Koenen
Morgan Standley
& Company, Inc.
1993-94
John E.
Haupert
The Port
Authority of New York and New Jersey
1994-95
Daniel N.
Heimowitz
Moody's
Investors Service
1995-96
Frank A.
Trumbour
Prudential
Mutual Funds Investment Management
1996-97
Cathy S.
Callender
Standard
& Poor's J.J. Kenny
1997-98
Peter E.
Hoey
Financial
Security Assurance Inc.
1998-99
Stephen
V. Reitano
Metropolitan Transportation Authority
1999-2000
Arthur T.
Murphy, Jr.
First Albany
Corporation
2000-01
Samuel A.
Ramirez
Ramirez
& Company, Inc.
2001-02
Mark G.
Muller
Loews Corporation
2002-03
Walter T.
Kicinski
UBS Painewebber
2003-04
Dominick
F. Antonelli
Roosevelt
& Cross, Inc.
2004-05
Kimberley
Paparello
Bank of
America
2005-06
Stephen
F. DeGroat
Financial Assurance Guaranty, Inc.
2006-07
Colleen
Woodell
Standard and Poor's
2007-08
Colleen
Woodell
Standard and Poor's
2008-09
Joseph
A. Branca
Bank of America Merrill Lynch
2009-10
Alan
Anders
NYC OMB
2010-11
Rich Raphael
Fitch Ratings
The
Municipal Forum of New York
Annual Awards
and Urban Leadership Fellows Dinners
1990
K/A*
--
Award:
David N. Dinkins, Mayor, NYC
Robert R. Kiley, Chairman, MTA
James A. Lebenthal, Chrm., Lebenthal & Co., Inc
1991
K/A*
--
Award:
Hugh L. Carey, former Governor, State of New York
Felix G. Rohatyn, Chrm., MAC
Robert N. Downey, Partner, Goldman, Sachs & Co.
1992
K/A
--
Award:
Beryl F. Anthony, Jr. (D. Arkansas)
Richard B. Dixon, CAO, Los Angeles Co.
Gerald L. Friedman, former Chrm., FGIC
1993
K/A
--
Award:
Robert G. Beckel, Chairman, Beckel Cowan
John E. Hull, Deputy Comptroller Office of the New York State
Comptroller
John H. Allan, Executive Director, the Bond Buyer
1994
Award:
Thomas A. Devane, Jr., Deputy Executive Director, New York State
Dormitory Authority
J. Kevin Kenny, Former President and CEO, J.J. Kenny & Co., Inc.
1995
Award:
Mortimer L. Downey, Deputy Secretary, United States Department
of Transportation
David C. Clapp, Limited Partner, Goldman, Sachs & Co.
1996
Award:
Mark Page, Deputy Director/General Counsel, Office of Management
and Budget, The City Of New York
Donald J. Robinson, Esq., Orrick, Herrington & Sutcliffe
1997
Award:
Terry Agriss, President, New York State Environmental Facilities
Corp.
R. Fenn Putman, Chairman, O'Brien Partners, Inc.
1998
Award:
Louis R. Tomson, First Deputy Secretary of the Governor, The State
Of New York
Brenon W. Harries, Former Chairman, President and Chief Financial
Officer
Standard and Poor's' Corporation
1999
Award:
E. Virgil Conway, Chairman, The Metropolitan Transportation Authority
Michael D. McCarthy, Managing Director, Goldman, Sachs & Co.
2000
Award:
Maryanne Gridley, First Deputy Secretary to the Governor, The
State Of New York
Hyman C. Grossman, Managing Director, Standard & Poor's
Cathy S. Callender, Director of Development, Marymount School
2001
Award:
Thomas J. Murphy, Executive Director , New York State Dormitory
Authority
Richard F. Chapdelaine, Chairman, Chapdelaine & Co.
Heather L. Ruth, President, The Bond Market Association
2002
Award:
John F. Thompson, Former President, Municipal Forum of New York
Claire G. Cohen, Vice Chairman, Fitch Ratings
Joseph J. Lhota, Former Deputy Mayor, City of New York
2003
Award:
The Port Authority of New York and New Jersey
Gedale Horowitz, Salomon Smith Barney
2004
Award:
Alan
Anders, Deputy Director, Office of OMB, City of New York
Daniel Keating, Managing Director, Bear, Stearns & Co.
Gerard Fernandez, Hawkins Delafield and Wood LLP
2005
Award:
Charles
A. Gargano, Chairman, Empire State Development Corporation
Terry L. Atkinson, Managing Director, UBS Financial Services Inc.
Damon P. Smith, III Honorary Achievement Award, (posthumously)
2006
Award:
Herman R. Charbonneau, SVP, Roosevelt & Cross, Inc.
Lifetime Achievement Award
James T. Gebhardt, CFO, NYSEFC, Public Service Award
Andrew Gurley, MD, UBS Securities LLC,
The Austin V. Koenen Career Achievement Award
2007
Award:
Frances Walton, CFO, Empire State Dev Corp., Public Service Award
Howard Zucker, Partner, Hawkins Delafield & Wood LLP, The Austin V. Koenen Career Achievement Award
William W. Cobbs, Chairman, PRAG, Lifetime Achievement Award
2008
Award:
Samuel Ramirez, Austin Koenen Career Achievement Award
William C. Thompson, Jr., Public Service Award
Frank R. Hoadley, Lifetime Achievement Award
2009
Award:
Richard Ravitch, Partner, Ravitch Rice & Co., Lifetime Achievement Award
Nancy Feldman, Director of the Office of Public Finance of New Jersey, Public Service Award
Bernard Beal, Chaiman and CEO M.R. Beal & Co., Austin Koenen Career Achievement Award
2010
Award:
Colleen Woodell, Standard & Poors Corporation, the Austin Koenan Career Achievement Award
Carol Kostik, NYC Comptroller’s Office, Public Service Award
Marvin Markus, Goldman Sachs, Lifetime Achievement Award