Following its spin off from N. W. Halsey, Stuart continued his Chicago-based firm’s strong presence in bond issuance, helping raise funds for many industrial conglomerates that, until that time, had always gone to New York for financing. Though the firm suffered because of poor business dealings with utility mogul Sam Insull, Stuart’s resilience and support of the competitive bidding movement allowed Halsey, Stuart to regain its previous position of prestige. The firm sponsored $723 million in new issues in 1950, the most of any firm in that year, including all of the New York houses.