<SEC-DOCUMENT>0001172661-15-001534.txt : 20150814 <SEC-HEADER>0001172661-15-001534.hdr.sgml : 20150814 <ACCEPTANCE-DATETIME>20150814070140 ACCESSION NUMBER: 0001172661-15-001534 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150630 FILED AS OF DATE: 20150814 DATE AS OF CHANGE: 20150814 EFFECTIVENESS DATE: 20150814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLAHERTY & CRUMRINE INC CENTRAL INDEX KEY: 0001261239 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11701 FILM NUMBER: 151052490 BUSINESS ADDRESS: STREET 1: 301 E. COLORADO BLVD STREET 2: SUITE 720 CITY: PASADENA STATE: CA ZIP: 91101 BUSINESS PHONE: 6267957300 MAIL ADDRESS: STREET 1: 301 E. COLORADO BLVD STREET 2: SUITE 720 CITY: PASADENA STATE: CA ZIP: 91101 </SEC-HEADER> <DOCUMENT> <TYPE>13F-HR <SEQUENCE>1 <FILENAME>primary_doc.xml <TEXT> <XML> <?xml version="1.0" encoding="UTF-8"?> <edgarSubmission xsi:schemaLocation="http://www.sec.gov/edgar/thirteenffiler eis_13F_Filer.xsd" xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:ns1="http://www.sec.gov/edgar/common" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"> <headerData> <submissionType>13F-HR</submissionType> <filerInfo> <liveTestFlag>LIVE</liveTestFlag> <flags> <confirmingCopyFlag>false</confirmingCopyFlag> <returnCopyFlag>true</returnCopyFlag> <overrideInternetFlag>false</overrideInternetFlag> </flags> <filer> <credentials> <cik>0001261239</cik> <ccc>XXXXXXXX</ccc> </credentials> </filer> <periodOfReport>06-30-2015</periodOfReport> </filerInfo> </headerData> <formData> <coverPage> <reportCalendarOrQuarter>06-30-2015</reportCalendarOrQuarter> <isAmendment>false</isAmendment> <filingManager> <name>FLAHERTY & CRUMRINE INC</name> <address> <ns1:street1>301 E. Colorado Blvd</ns1:street1> <ns1:street2>Suite 720</ns1:street2> <ns1:city>Pasadena</ns1:city> <ns1:stateOrCountry>CA</ns1:stateOrCountry> <ns1:zipCode>91101</ns1:zipCode> </address> </filingManager> <reportType>13F COMBINATION REPORT</reportType> <form13FFileNumber>028-11701</form13FFileNumber> <otherManagersInfo> <otherManager> <cik>0000804328</cik> <form13FFileNumber>028-15384</form13FFileNumber> <name>QUALCOMM INC/DE</name> </otherManager> </otherManagersInfo> <provideInfoForInstruction5>N</provideInfoForInstruction5> </coverPage> <signatureBlock> <name>Chad C. Conwell</name> <title>Executive Vice President and Chief Compliance Officer</title> <phone>626-795-7300</phone> <signature>/s/ Chad C. Conwell</signature> <city>Pasadena</city> <stateOrCountry>CA</stateOrCountry> <signatureDate>08-14-2015</signatureDate> </signatureBlock> <summaryPage> <otherIncludedManagersCount>0</otherIncludedManagersCount> <tableEntryTotal>9</tableEntryTotal> <tableValueTotal>88399</tableValueTotal> </summaryPage> </formData> </edgarSubmission> </XML> </TEXT> </DOCUMENT> <DOCUMENT> <TYPE>INFORMATION TABLE <SEQUENCE>2 <FILENAME>infotable.xml <TEXT> <XML> <?xml version="1.0" ?> <informationTable xsi:schemaLocation="http://www.sec.gov/edgar/document/thirteenf/informationtable eis_13FDocument.xsd" xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:n1="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"> <infoTable> <nameOfIssuer>BARCLAYS BANK PLC</nameOfIssuer> <titleOfClass>ADR PFD SR 5</titleOfClass> <cusip>06739H362</cusip> <value>23354</value> <shrsOrPrnAmt> <sshPrnamt>898228</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>898228</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>BARCLAYS BANK PLC</nameOfIssuer> <titleOfClass>ADS7.75%PFD S4</titleOfClass> <cusip>06739H511</cusip> <value>1877</value> <shrsOrPrnAmt> <sshPrnamt>72456</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>72456</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>BARCLAYS BANK PLC</nameOfIssuer> <titleOfClass>SP ADR 7.1%PF3</titleOfClass> <cusip>06739H776</cusip> <value>17307</value> <shrsOrPrnAmt> <sshPrnamt>666181</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>666181</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>CIT GROUP INC</nameOfIssuer> <titleOfClass>COM NEW</titleOfClass> <cusip>125581801</cusip> <value>4088</value> <shrsOrPrnAmt> <sshPrnamt>87960</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>87960</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>EQUITY COMWLTH</nameOfIssuer> <titleOfClass>CUM PFD E 7.25%</titleOfClass> <cusip>294628409</cusip> <value>5760</value> <shrsOrPrnAmt> <sshPrnamt>223437</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>223437</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ROYAL BK SCOTLAND GROUP PLC</nameOfIssuer> <titleOfClass>SP ADR PREF T</titleOfClass> <cusip>780097713</cusip> <value>31378</value> <shrsOrPrnAmt> <sshPrnamt>1236800</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1236800</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ROYAL BK SCOTLAND GROUP PLC</nameOfIssuer> <titleOfClass>SP ADR PREF S</titleOfClass> <cusip>780097739</cusip> <value>1945</value> <shrsOrPrnAmt> <sshPrnamt>78000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>78000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ROYAL BK SCOTLAND GROUP PLC</nameOfIssuer> <titleOfClass>ADR PREF SHS Q</titleOfClass> <cusip>780097754</cusip> <value>759</value> <shrsOrPrnAmt> <sshPrnamt>30000</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>30000</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>ROYAL BK SCOTLAND GROUP PLC</nameOfIssuer> <titleOfClass>SP ADR PREF M</titleOfClass> <cusip>780097796</cusip> <value>1931</value> <shrsOrPrnAmt> <sshPrnamt>77500</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>77500</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> </informationTable> </XML> </TEXT> </DOCUMENT> </SEC-DOCUMENT>