J. P. MORGAN COMPANY
NEW CONCERN LAUNCHED.
(United Press Association—Copyright)
NEW YORK, Sept. 5
An announcement was made to-day of the retirement from the J. Pj Morgan Company of a group of parsers headed by Mr Henry Sturgis Morgan, the younger son of the banker, and Mr Harold Stanley, to form an investment banking firm to be known as the Morgan Stanley Company. Tiie new concern wil l conduct the business of underwriting and the wholesale selling ol securities, which was given up by the parent firm in June, 1934, when, in accordance with the provisions of the Banking Act of 1933, the concern had to choose between its deposit banking business and its investment banking business. Tlie new firm will be of limited liability. Part of the capital will be held individually by partners in the parent firm.
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Bibliographic details
Ashburton Guardian, Volume 55, Issue 279, 7 September 1935, Page 5
Word Count
139J. P. MORGAN COMPANY Ashburton Guardian, Volume 55, Issue 279, 7 September 1935, Page 5
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