Word: armoured
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...original order for a rate reduction was entered in 1923, but Illinois Bell promptly obtained an injunction. The case was not brought to trial until 1927. The City of Chicago in behalf of subscribers retained a bright young lawyer named Benjamin F. Goldstein, legislative investigator of the Armour Grain scandal, who had prowled through the books of the telephone company for a minority stockholder. Mr. Goldstein, then 34, suggested that two other experienced lawyers were also needed. George Ives Haight, a gruff, strapping patent attorney and his partner, big, jovial Edmund David Alcock, joined the fight...
...Last week Armour & Co. stockholders voted to accept the reorganization plan sponsored by President Thomas George Lee and Boston's crusty septuagenarian Banker Frederick Henry Prince, Armour's largest stockholder (TIME, June 11). Chief item is a $55,000,000 write-down in assets to improve earnings, cut depreciation charges $2,150,000. Stated capital is reduced from $157,231,000 to $20m723.000 by the substitution of two classes of stock for three...
Adopted. By Lolita Armour Mitchell, granddaughter of Chicago's famed Packer P. D. Armour, and her husband, John J. Mitchell Jr.; a 6-month-old, brown-eyed, brown-haired girl; to be named Lolita Sheldon Mitchell. Year ago, the Mitchells adopted a boy, John J. Mitchell...
...President Thomas George Lee of Armour & Co. Mr. Bane's oral ruling came as the final spasm in a year-long nightmare. Mr. Lee, who pulled profits out of Armour last year for the first time since 1930, tried to reorganize the packing company last summer but various stockholder groups blocked him at a rowdy meeting in August. Salaries next became the target for the protective committee's publicity. Months of wrangling over a new board revealed that Frederick Henry Prince, crusty septuagenarian banker of Boston, had become Armour's biggest individual stockholder. Last January another rowdy...
...ever seriously denied that Armour should be reorganized but how to do it made the trouble. The company wished to write down assets by $55,000,000 so that depreciation charges might be pared, earnings thus improved. But if this were done, it would reduce Armour's net assets below stated capital, and under Illinois law dividends could not be paid. Also preferred dividend accumulations would amount to $24.50 by July...