Chase transferred what remained of its securities business to the Bank of Boston's newly formed First Boston Corporation, buttressing that firm's early municipal bond department.

[4] This firm, which specialized in the underwriting of municipal bonds, was one of the early pioneers in the investment banking, particularly outside of New York.

In 1882 such procedure was regarded as undignified; Mr. Harris and his men were termed doorbell ringers.

In 1867 Mr. Harris had traveled through the south and west, had seen countless small but growing towns and cities.

Farsighted, he looked ahead, saw the school houses, water works, roads, bridges, sewage plants and other public works of the future...It is said that every U. S. city with a population of more than 100,000 has put up part of its public buildings with bonds marketed through Harris, Forbes & Co. As a logical development of its municipal business, the company has in more recent years become almost equally outstanding in the field of public utility finance.