The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-02-01
NEWSECURITIES
CO. ORGANIZED
BY RICHARD HATTON

g. b. Moran & Co, who
have just recently successfully com.
pleted the financing Of the Fed. .al
Security and Mortgage Company,
have taken over the same important
function for the United States Se-
c1rities Corporation, according to
an announcement today.
The authorized capitalization Of
the new corporation Is 100000
shares 8 per cent cumulative pre-.
ferred stock par value SO, and
100000 shares common stock OF no
par value.
It is announced that the stock is
free from the District Of Columbia
intangible tax and that the divi.
deflas are free from the normal
Federal Income tax.
The strength OF the new organi.
zation ist indicated in the list Of
officers and directors as made pub.
lie today.
These include: Chairman Of the
board, Edward L. Edwards. chair.
man Of the board OF the First Ma,
tional Bank, Jersey City, and the
North American Title Company
director the Trust Company Of
Insurance Company Of New Jersey:
dent Rsedy River Power Company
ident, Percy 3. Quln, member Of
Hobbs, vice president and director
the Wardman Construction Com.
pany, Wardnaan Park Hotel COM
pany, Wardman Real Estate In.
vestment Corporation, National
Woodworking Company, and direc.
tor National Bank Of Washing ton;
secretary. Thomas 81. Walden. d.
rectore, Charles A. Douglas, senior
member firm Of Douglas, ObeaT q
Douglas, general counsel Cont.
mental Trust Company and South.
ern Diaries, Incorporated, ana d.
rector International Bank; Edward
w. poU, member Of Congress and
president the A.. Bincolns Hotels,
incorporated; John r. Waller, pres.
ident international Bank, director
Continental Trust Company ana
federal Bank and Trust COMPANY
of Iowa, and president Realty &c.
curities Corporation; George Angus
Garrett, resident partner F. B.
Keech g Co, New York Stock Elk.
change ana washington Exchange:
John y. Story, Story & Co., real
estate ana insurance, director Dis
trict Title Company, and Carleton
q. Moran, president G. q. Moran q
Co.. Incorporated, investment bank.
erg. director the A. Lincoln Hotels
Co, Incorporated.
The diversified interests Of this
directorate and the individual ex.
perience Of the members are Of q
nature which particularly qualify
them for their important duties.
according to the announcement Of
the corporation, washington with
over half q million population and
its increasing industrial and COM
uaArcial activities, has been one Of
the few cities Of its size in the
United States not enjoying the
distinct service OF an institution
conducting q general financing
business.
"Individuals, merchants and man.
ufacturers have been compelled,
in . great many instances. to
alther seek money from : out Of
town sources or tie up their bank
credits in order that their business
transactions might be properly II.
naced.
s.Out Of the tremendous need for
the services OF such an organiza.
zion was born the United States Sc
cllritiee Corporation.
.'The United States Securities
Corporation viii conduct general
commercial financing business
ioAnihg It's funds against collateral
securities. It will make all sorts
81 collateral loans where there is
sufficient security,
{ THE corporation il organized to
render an important service to COM
merciaI and Industrial Washington.