 In 1931, he bought his seat on the New York Stock Exchange for $235,000 ().It was reported that he used some of the large inheritance received from his mother to found the Washington, DC brokerage firm of "Auchincloss, Parker & Redpath" with Chauncey B. Parker and Albert G. Redpath.The firm eventually had 16 offices with two in New York City and the rest spread along the East Coast.