Los Angeles herald., 1905-09-03
UNDERWRITERS OF
STOCKS AND BONDS
eRANlTE SECURITIES coMPANY

There's nothing succeeds like success"
and we are forcibly impressed with this
ations of the Granite Securities company
during the years that have elapsed since
it began its work in the west. Its prirl-
cipleS are protection to the corporation,
as well as to the investor, and its whole
plan may be understood by quoting the
words of business man, who said the
other day, ''If all the stock have bought
of different companies during the last
twenty years had been insured, would
today have competency for life instead
of being comparatively a poor man. l
think the law should compel every corpor-
alton to underwrite its stock for the pro-
lection of its stockholders" This Is just
what the Granite Securities company was
organized for, that the investor may be
absolutely safe and know when he invests
his money that he cannot lose one dollar
of 1t. 1t is also an institution that pro-
tects the corporation as well as the stock
holder. In fact, the only legitimate
method of underwriting stocks and bonds
extent of their selling price by leg1ti-
mate underwriting company and the
amount of the guaranty is paid by the
company at a fixed time, whether the
corporation succeeds or not; If 1t succeeds
the amount of the guaranty is paid into
its. treasury; If it fails, the amount Is
every cent of his investment Naturally
the value of a bond or policy issued by an
underwriting company, like that OF any
other bond, must be measured by the as
sets back of the bond, and in considering
the claims of the Granite Securities COM
pany, the questions often asked are: What
assets are back of it's guarantee of your
stocks and bonds? Again: Are the assets
of a permanent character, or are they
mere loans on mortgages, necessitating
substitutions as the mortgages are paid,
and thereby making it possible to substi-
tute securities of little or no value or
securities requiring the reinvestment of
interest at the discretion of the under
writing company? Third; Can you learn
from Bradstreet or Dun the value of the
assets? And fourth Does the under
writing company refer you to corporations
with which it has already done businessf
To all Of these quetsions the above COM
pany can give an entirely satisfactory
answer. 1t has Independent assets
amounting to over 100000 representing
more than eight millions in real estate.
Controls large street railway systems and
other large holdings. 1t gladly refers to
Bradstreet or Dun for it's financial rating
and courts investigation. and can furnish
the names of a large number of corpor-
ations with which 1t is now doing busi-
ness. The officials of the company are:
r. M. Martin, president, and Charles
Udell, secretary. These two gentlemen,
with the addition of Messrs. It. M. Town
send and 7. j. Phillips. also form the
board of directors The Broadway Bank
and Trust company of Los Angeles is
trustee for the concern. 1t invites the
closest investigation of it's methods, rec
ord and operations. It's main offices are
in the Bradbury building, rooms 506-507-
50S-509, where a very large amount OF
interesting information can be furnished
that necessarily could not be given here
for lack of Space.