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“FOMSON'S MANUAL 
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EXCHANGE BUILDING 
One of the realty units of the United Group 
of Corporations, and home of the 
Seattle Stock Exchange 
Strongly Welded 
United National Corporation, holding company for the 
United Group of Corporations, is the largest financial 
institution in the Pacific Northwest from the standpoint of 
paid-in capital. 
In its staunch structure are welded together five forward- 
looking divisions, embracing operation of investment 
companies, distributing of investment securities, insurance 
underwriting, trust company operations and realty ownership 
and management - - - augmented by strong reserves of cash 
and marketable securities. 
United National Corporation’s permanent investments 
are distributed substantially as follows: investment company 
division, 39 per cent; securities distributing division, 16 per 
cent; insurance division, 11 per cent; trust company division, 
2 per cent; realty division, 8 per cent. 
UNITED NATIONAL CORPORATION 
“al 
SEATTLE 
TACOMA 
SORTLAND 
SPOKANE