Anglo-U. S. Financiers

In London the Right Hon. Sir Alfred Moritz Mond, Bart., P. C., M. P., chairman of Imperial Chemical Industries Ltd. and director of many another industrial concern, last week received the British gentlemen of the press. In Manhattan a few hours later Albert Henry Wiggin, chairman of the Chase National Bank and of the Chase Securities Corp. and director of many a banking, railroad, public utility and industrial concern received U. S. reporters. Both men had the same announcement to deliver--the creation of the Finance Company of Great Britain & America Ltd. with -L-2,040,000 (about $10,000,000) capital. Chase Securities and Imperial Chemical Industries are to own and sell equal amounts of the common stock.

The purpose of the company is to apply capital, which the Wiggin and Mond organizations gather, to commercial and industrial enterprises in the British Empire, Europe and the U. S. Said Sir Alfred, selecting his words meticulously: "The potentialities are very great indeed. The money behind us may be said to be limitless, but it will be only for good things. There are possibilities of further extension internationally. This group of financiers is not intended to be an octopus."*

Imposing is the list of the new company's directors:

Sir Alfred Mond, chairman.

Sir Harry Duncan McGowan, K. B. E., vice chairman. He is chairman and managing director of Nobel Industries Ltd.

Mr. Wiggin.

The Most Hon. the Marquess of Reading, G. C. B., K. C. B. O., onetime Viceroy of India, a director of the National Provincial Bank Ltd., and of the Midland Bank.

The Hon. Lord Colwyn, vice president of the Council of the Federation of British Industries and a director of Martin's Bank, Ltd.

Harold John Mitchell.

Henry Mond, a director of Barclay's Bank Ltd.

Clarence Graff, joint managing director of the new company.

James Henry Gannon, vice president of the Chase National Bank and joint managing director of the new company.

Those men will function in England. In the U. S. will be a committee with similar directorial powers. Its membership is as imposing as is that of the British board:

Mr. Wiggin, chairman.

Sir Alfred Mond.

Sir Harry McGowan.

Matthew C. Brush, president and chairman of the executive committee of the American International Corp.

Frederick Hudson Ecker, vice president Metropolitan Life Insurance Co.

Archibald Robertson Graustein, president International Paper Co.

J. Horace Harding, of Charles D. Barney & Co.

John J. Raskob, vice president and chairman of the finance committee of General Motors Corp.

Charles M. Schwab, chairman of the board of directors of the Bethlehem Steel Corp.

William Hartman Woodin, president of American Car and Foundry Co.

Halstead G. Freeman, president of Chase Securities Corp.

* Immediately upon the announcements, demand developed in Manhattan for stocks of the Chase National Bank, which owns the Chase Securities Corp. The bank is considering the issuing of new stock carrying unusual privileges. Simultaneously the price of Guaranty Trust shares rose. And that gave face to a rumor, unsupported, that the two banks might merge.