Word: amoskeag
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...Manchester that Frank Knox gained newspaper fame as publisher of the Manchester Union and Leader which he still owns. While he was there last week his papers carried the saddest dispatch they had ever printed. In Boston 55 miles away a Federal District Court ordered the immediate liquidation of Amoskeag Manufacturing Co., biggest cotton textile mill in the U. S. and Manchester's principal industry...
...unique "effort to save Manchester [N. H.] from disaster," a ballot was taken there last week to see whether workers would agree to a 15% wage cut and "permanent peaceful operations" of the huge textile mills of Amoskeag Manufacturing Co., the city's biggest industry, normally employing one-seventh of its total population (76,834). Amoskeag closed its mills last September, is now in 776 reorganization, admittedly faces possible liquidation because it cannot compete with low-wage Southern textile mills. No less than 3,669 of Amoskeag's workless workers (a slim majority of those voting) accepted...
...brought $4,709,000. Stocks and bonds dominated the scene, being valued at $110,000,000 and yielding $4,000,000. Public Utility bonds led with $31,000,000. and Railroad bonds came next with $12,000,000. Among the stocks are 1514 shares of Amoskeag valued altogether at $1.00. Real estate was assessed at $12,500,000. and rent brought $500,000. Loans and mortagages brought up the rear with $2,500,000. Yielding a revenue...
...Supreme Court's Schechter case decision by hinting that AAA might go the way of NRA, alert processing taxpayers began a scramble to the courts. By this week that scramble had become a stampede. Headed by Minneapolis' General Mills, Inc., world's biggest grain millers, and Manchester, N.H.'s Amoskeag Manufacturing Co., world's biggest cotton cloth manufacturers, no less than 117 potent processors had filed suits for recovery of taxes paid or for injunctions against collection of taxes due. With some $10,000,000 in taxes already involved, new suits were piling up at the rate of about five...
...different story, however, was the report of Amoskeag Manufacturing Co., biggest cotton textile producer in New England. The famed old Manchester, N. H. concern was once again in the red by $1,000,000 even without any allowance for depreciation. Blamed was the decline of the New England cotton business. Boston's Frederic Christopher Dumaine, Amoskeag's treasurer and real boss, declared: "Nearly 1,000,000 New England spindles have gone to the scrap heap in the last few weeks. ... No management is competent to operate a plant like this, handicapped with . . . $2.56 [per week] average wage differential...