Bankers Securities Corporation (B.S.C.) was a

Philadelphia, Pennsylvania Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Sinc ...

-based investment company formed in 1927, by

Albert M. Greenfield Albert Monroe Greenfield (August 4, 1887 – January 5, 1967) was a real estate broker and developer who built his company into a vast East Coast network of department stores, banks, finance companies, hotels, newspapers, transportation companies ...

for general investment banking and trading in securities. It eventually became the parent company for virtually all of Greenfield's financial interests. B.S.C. bought control of

Lit Brothers Lit Brothers was a moderately-priced department store based in Philadelphia. Samuel and Jacob Lit opened the first store at North 8th and Market Streets in 1891. Lits positioned itself well as a more affordable alternate to its upscale competitors ...

department store, then subsequently sold it to City Stores Company. On December 1, 1931, City Stores Company could no longer meet its financial obligation to B.S.C. and Greenfield took control of City Stores. Greenfield was now a retail magnate. B.S.C bought other stores outside the City Stores umbrella including: N. Snellenburg & Company;

Bonwit Teller Bonwit Teller & Co. was an American luxury department store in New York City, New York, founded by Paul Bonwit in 1895 at Sixth Avenue and 18th Street, and later a chain of department stores. In 1897, Edmund D. Teller was admitted to the p ...

& Company; Tiffany & Co.; and Loft Candy Corporation. The Greenfield B.S.C. empire also included a number of Philadelphia based hotels including the Bellevue-Stratford,

Benjamin Franklin Benjamin Franklin ( April 17, 1790) was an American polymath who was active as a writer, scientist, inventor, statesman, diplomat, printer, publisher, and political philosopher. Encyclopædia Britannica, Wood, 2021 Among the leading inte ...

, Sylvania, Adelphia, Essex, John Bartram and the

Ritz-Carlton The Ritz-Carlton Hotel Company, LLC is an American multinational company that operates the luxury hotel chain known as The Ritz-Carlton. The company has 108 luxury hotels and resorts in 30 countries and territories with 29,158 rooms, in addit ...

in Philadelphia and

Atlantic City, New Jersey Atlantic City, often known by its initials A.C., is a coastal resort city in Atlantic County, New Jersey, United States. The city is known for its casinos, boardwalk, and beaches. In 2020, the city had a population of 38,497.

. Greenfield resigned as chairman of B.S.C. in March 1959, and was succeeded by Gustave G. Amsterdam. "Changes of the Week"
''Time''. March 30, 1959.]

References

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External links

* Th
Albert M. Greenfield Papers
including correspondence, news clippings and office files, are available for research use at the

Historical Society of Pennsylvania The Historical Society of Pennsylvania is a long-established research facility, based in Philadelphia. It is a repository for millions of historic items ranging across rare books, scholarly monographs, family chronicles, maps, press reports and v ...

. Financial services companies established in 1927 Investment companies of the United States