New Insurance Stock Placed on the Market Two interesting new issues of stock were placed on. the market fon July 1. One concerns a new issue of 5,000 shares of 8 per cent preferred stock at par of Tls. 100 per share, with 15,000 shares gammon stock at per value of Ti. 10 per share in the American Asiatic Underwriters (Fed. Inc.
'S.A.), and the other concerns a new issue in the American Inter-rational Underwriters, a recently formed corporation which handles the business of a number of American insurance companies outside the United States. This latter issue is in gold dollars, and the greater part of it has been already subscribed by insurance associates of the com pany in New York and London. A part of the issue has been reserved for subscribers in the Far East. Both issues have been underwritten "Messrs. Swan Culbertson
Underwriters, has been formed The International when Trust Ca.
under the China Trade Act-of the]
United States Government to act at 12 holding and finance company for insurance agencies.and insurance companies. Its interests are not confined to China but it has been been incorporated under the above Jew in order that the benefits earned by any of its constituent, companies} under the same law may be present-for those of its own shareholders who live in Chine.
The Constituent Companies The company owns controlling] interests in the American Asiatic Underwiters, and the American International Underwiters Corpora tion of New York, The American tic" Underwiters, operates manager and general agent for insurance companies in the Orient. The American International Underwriters'Corporation acts as manage? and general agent for insurance companies in Europe and South 'America, Tt also serves as financial agent for such companies, arranging their deposits and investments abroad. On behalf of its companies it insures in New York riske abroad. Tt acts as' reinsurance broker and agent specializing in reinsurance fecting interests outside the United States, And it is the accounting control office in New York. for the orient business done throug the American Asiatic Underwriters.
The proposed new capital will be ured to provide necessary funds for the development of the American
poration. Either through or in International Underwriters Cor conjunction with the American International Underwriters Cor poration of New York, branch offices. will be established in Sout America "and Europe along lines already proved successful in the Orient. Subsidiary organizations will be formed or purchased as local conditions require.
A further important arises from the insurance regul tions found in many countries requiring that insurance companies deposit with each government, as Toeal capital, substantial sums in approved secon yy Ameri con insurance companies, willing otherwise to underwrite abroad, ar insufficiently acquainted with foreign procedure and investments to make '0: look after such deposits on the can account, For such companies the American International Underwriters Corporation, with its own Uffices abroad through which to make and supervise investments, provides the necessary securities in return ter a fixed charge and an increased general agency commission. Such securities invariably have the: highest factor of safety and thei:
yield together with the panies concerned should provide an attractive return,
Text read from the printed page and cleaned; old type leaves the occasional error.