The Walter's Gratuity and Loans was an insurance company that began in August of 1896. The business operated out of this building alone until 1970 when Walter's built the new pink granite clad building in the inner harbor. The building stands tall at 37 stories and is the tallest building between Raleigh, North Carolina and Philadelphia, Pennsylvania. Upon the transformation and the construction of the new building, the company decided to shortened the name by abbreviating it. Walter's Gratuity and Loans seized operation in 1998, now the "Saint Paul Companies" owns the building and business.