Edwin Louis Cole was born on August 11, 1883 in Easton, Pennsylvania. He graduated from the University of Pennsylvania in 1907 and received his law degree from the University of Pennsylvania Law School. In 1910, he joined the Philadelphia firm of Simpson Thacher & Bartlett, where he became a partner in 1912. In 1914, he enlisted in the United States Army and served until 1917
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He married Katherine Laughlin in 1920. In 1927, while working at Simpson Thacher & Bartlett, he accepted a position as a professor at the Wharton School of Finance and Commerce at the University of Pennsylvania. In 1928, he moved to Washington D.C., where he became the first president of the National Association of Securities Dealers.
In 1952, Mr. Cole retired from Simpson Thacher & Bartlett and returned to Easton where he died on February 27, 1959 at age 75. He was survived by his wife Katherine, four children and six grandchildren.