^Lot 527 Moody's Investors Service,

NJ. 1914. Specimen. 100 shs, participating preference stock, green. Vignette of 2 Allegorical Women flanking Moody's inititals. Relying on his assessment of the market's needs, John Moody & Company published Moody's Manual of Industrial and Miscellaneous Securities in 1900, the company's founding year. The manual provided information and statistics on stocks and bonds of financial institutions, government agencies, manufacturing, mining, utilities, and food companies. When the stock market crashed in 1907, Moody's company did not have adequate capital to survive, and he was forced to sell his manual business. On July 1, 1914, Moody's Investors Service was incorporated. That same year, Moody began expanding rating coverage to bonds issued by US cities and other municipalities. By 1912, Moody's rating covered nearly 100 percent of the US bond market. EAWBNC. XF.