G. Shelby Friedrichs (left), managing partner of Howard, Weil, Labouisse, Friedrichs and Company, discusses stock market conditions with Paul Fenton (center), president of the Boston Advisory firm Studley Shupert and Dudley Coats, partner-manager of Howard, Weil, Labouisse, Friedrichs and Company in Baton Rouge. Fenton told a sales meeting of Howard, Weil Saturday at the Sheraton Charles Hotel that the economy is experiencing a recession which could grow substantially. New Orleans

Photo is dated 1969.

Photo measures 10 x 8.25 inches.