Word: bankrupt
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Dates: during 1930-1939
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...last week Jersey Central went bankrupt, joined 81 roads (over 31% of U. S. railroad mileage) that have gone into receivership since 1931. Driven to the wall by seven consecutive whopping deficits, its first eight months' operations this year showed a $2,709,000 net loss. Of its once lush freight business, about 50% was coal and 40% manufactured goods, and neither recovered from Depression I. With heavy fixed charges on a bonded debt of $51,198,000, the strain of depression was too much. But the straw that broke Jersey Central's back was taxes...
...more than 60% of the nine roads' taxes for 1934-35-36, the court ordered a sweeping revision of New Jersey's assessment methods. Until all of the roads' properties were revalued, said the court, the 60% payment rule would hold. Too late to save bankrupt Jersey Central, the order was not too late to apply to the nine roads' 1939 tax bill ($18,261,000), due next month. It may save New Jersey from killing more of the roads which pay its golden taxes...
...much steel the Eiffel Tower contains. At Count Leon's (Melvyn Douglas) smart bachelor apartment, Ninotchka shocks his staid old butler by asking, "Does he beat you?" and by urging that all wealth be shared equally. As the butler indignantly refuses to share his lifetime savings with his bankrupt employer, she says: "Run along to bed, little father." When the Count makes love to her while a traffic cop is tooting his whistle, grimly scientific Ninotchka asks: "What is the interval between his whistles?" Her disintegration begins when she discards her semimilitary outfit, buys the most becoming...
...curtain in a Broadway playhouse went up, several years ago, on an Alaskan valley and a colony of bankrupt, wrangling, hopeful, bewildered, bitter Midwesterners transplanted there by the U. S. Government. The play was called 200 Were Chosen. Act I-"This is the Matanuska Valley-best little "valley in South Alaska. The Government brung you here and it's gonna...
...succeed Northern Pacific's late Charles Donnelly is the job of big (225 Ibs.), reserved, ironhanded Charles Eugene Denney (59), taken from the presidency of the bankrupt Erie. It was the late, smart Railroader John J. Bernet (chief operating officer for the Van Sweringen railroad empire) who first saw that Charlie Denney had something. Son of a master watchmaker, Charlie Denney moved from newsboy to Penn State to Union Switch & Signal Co., through a multitude of railroad jobs to general manager of the Nickel Plate. Then Bernet took him to Erie, left him there as president when he went...