The Washington herald., 1921-07-08
ROBINSON WHITE
HEADS DISTRICTS
new FINANCE FIRM
General Finance and Sc
cMity Company Formed
In Washington.
CAPITAL is $250,000
Company viii Buy for Invest
ment Commercial Papers
And Securities.
CAPITAL is s25O,OOO

Owing to the great demand for
CAPITAL IN the District of Columbis
and its environs- the General
Finance and Security Company, Inc.
has been formed with an authorized
capitalization of s250,ooo, and have
esfhlished temporary Offices in the
AXpee Building Robinson White,
prominent local attorney, heads the
new concern; James 7. Lloyd, vice
president Of the Chamber of Com
mxfce Of the District has been
named vice president; James D. Nc
IntEe Is secretary; L B Perkins,
treasurer, J. s Kemp, assistant
treasurer, and James T Lloyd. gen.
eralt counsel
The directorate of the company
consists Of the following: President.
Robinson White; vice president.
James T. Lloyd; Lawrence Allmutt,
vice president Montgomery National
Ba&k, Rockville; John T Higdon,
Gaithersburg; Dr. r. A Bennett
RFerdale; Dr. Harry S. Lewis, di-
rector Of the Standard Savings
Rzpk; l. b Perkins, assistant cor
poration counsel of the District.
James D. Mcintyre, and J. S. Kemp,
assistant disbursing oficer. United
States Treasury.
The capital stock of the company
consists of cumulative fully partici-
pating preferred stock. par value
S3s, and 10000 shares of common
stock Of no par value Every share
Of stock of the company, 1t is en-
phasized, is paid for in cash. none
to be issued for any persons name
or-seryices- Officers and directors
ofthe corporation, 1t Is pointed out.
have purchased their stock upon eN-
actly the same basis as IL offered to.
the public
1his company has been operating
ana, will operate on basis similar
to other financial institutions which
have been successful In the invesr-
meht and discount banking busi-
ness. The company is uhhampered
bylegal provisions and unrestrict-
ed Szs-to size of transactions. Be
cause Of this fact, IL is pointed out.
banks are more than willing to pass
on abusiness which nets them but
mall returns. the same being valu-
able business for a finance corpo-
ration.
.Established and Progressing-
The company has many applica-
lions for loans and is already earn
ins- money on their capital en-
pl6yed. Mr. White states that never
before in history. as he views II,
is the reward for thrift greater than
at this time. as capital is greatly in
demand and always will be as long
asSambition lives in man. Merchants
and manufacturers in the District
should benefit greatly by the oper-
ation of the General Finance and
Security Company, he asserts, max
ing possible. as 1t does, Dor them to
convert frozen credits into liquid
cash through the use and redis-
count possibilities of trade accept
ance paper. besides establishing a
sound and profitable investment in
stitution.
Participating Feat-re.
The company's bylaws provide
and-it is so printed on the stock GER
tiscates-that the preferred stock
must receive 9 per cent in dividends
each year before anything is paid
on the common stock; then the COM
mon stock is to receive an equal
sum- After that. the preferred and
common stock shane equally in all
further dividends.
The business of the company will
be the buying, for investment, of
various kinds of commercial papers
and other securities, such as note.
boHds- drafts, trusts, MORTGAGES
trade acceptances. etc, made bv in
dfvidual buyers, dealer or distrib-
utQr- Four months will. as a rule
be the maximum time of the paper
purchased. Occasionally. the time
In some special matter NAV exceed
four months The extent of the
business is limited only bv the
amount of cash capital EMPLOYED,
and that is the capital of the com
pany, plus IFS discounts at the
banks
~ Local Securities.
Bonds of the various public util-
tty companies were responsible for
the major portion OF trading on the
Washington Stock Exchange ves
terday- Prices, generally, held firm
Potemac Electric Power general
moftgage IS registering the onIv
decline. from 85h to s5. Sales az
gresating 5000 were made in this
security.
Washington Railway and Elec-
tric Is were traded in in 81. 900 lots
tosthe extent Of $4,000 at 6Ih. whiIa
"sshington Gas TVS sold to the
extent of $1,000 at Io3k.
Five shares of Railway preferred
stock changed hands at 81, as did
two shares Of MerEenthaler at I1s
and one share of Capital Traction
at-ss
Money on call remained at per
cent bid and per cent asked.
Personal.
Miss Mary ]. wInfree, secretary
Of the Continental Trust Company.
lefh the city yesterday to spend her
vacation at Atlantic City.