On April 5, 1929, he resigned as a governor of the Exchange (where he had served since 1900), and in September 1931, after forty years on the Exchange, he sold his seat to Rudolph Nadel, who became a partner in Mabon & Co. At the time of his death, he was the senior partner of Mabon & Co. (later Mabon, Nugent & Co. and Mabon Securities Corp.) and one of the oldest trustees of the Bank of New York.