Brokerage Founder Edwin D. Witter Dies

Edwin D. Witter, the last of the original partners in the Dean Witter stock brokerage firm when it was founded in 1924 in San Francisco, has died at 87.

Witter died Tuesday in Sacramento.

Born in Paso Robles, Witter served in the Army in World War I before graduating in 1922 from the University of California, Berkeley, with a degree in business administration.

He worked as a securities officer for two years before joining his cousin, Dean, and seven partners in founding the brokerage firm with a single office in San Francisco.

After the Depression, the brokerage grew into one of the five largest in the United States, opening more than 370 offices staffed by 8,000 brokers worldwide.

Witter managed the firm’s Sacramento office from 1933 until he retired in 1969.

The company, Dean Witter Reynolds Inc., now is owned by Sears, Roebuck & Co.