Word: bankrupt
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Dates: during 1930-1939
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...grave of Brigadier General Robert H. Dunlap, U. S. M. C., in Arlington Cemetery. His objection: it established a precedent contrary to Cemetery rules and constituted a discrimination against other holders of the decoration buried at Arlington. ¶ The President signed a municipal bankruptcy bill by which bankrupt towns and cities may, with the consent of a Federal District Court and 75% of their creditors, compromise their debts to get back on their financial feet. Good news was this for many a ruined town. Such municipalities as Atlantic City, Miami, Asbury Park, Asheville, Flint, Pontiac, Hendersonville (N. C.), Wilmington, Mobile...
When a corporation "hath not" it goes into bankruptcy and a judge puts it into the hands of a receiver. The receiver and receiver's attorney take away pay for their services from the bankrupt corporation. They may, if judges let them, take so much that there is scandalously little left for creditors. Last week Congress was stirred again by the administration of the U. S. bankruptcy laws...
Five years ago the Federal judges of the southern district of New York, anxious to stop greedy Manhattan lawyers from bleeding bankrupt firms, decided to make Manhattan's Irving Trust Co. receiver in all bankruptcy cases. So well did the trust company handle this new business that it won nothing but praise from the Federal court and the public-and nothing but bitter condemnation from local attorneys who had lost a lucrative practice. Twice they carried a fight to the State Legislature to forbid Irving Trust acting as receiver; twice bills to that effect were passed and twice vetoed...
...yuan ($100,000,000 to $133,000,000) a year to help Chinese finances have ceased remittances. Last year China's trade showed an excess of imports amounting to $200,000,000 and if this continues a few more years the Chinese Republic will be bankrupt." Then came the protest proper: "China ought first to readjust her debts before any more money is loaned. Unless such a readjustment is made an added burden will be placed on the Chinese which will tend to delay unification of the country and the attainment of order and prosperity. . . . This is what Japan...
John Hazard Browning's sons were not sorry when the Civil War came. They wangled a huge contract for soldiers' uniforms out of the Federal Government. After Appomattox they might have gone bankrupt had not a man named Henry W. King joined the firm. War had ruined their southern business, so Henry W. King opened a store in Chicago. It made so much money that the Brownings were glad to add his name to their corporate title, open other stores in the West. Browning, King had a chain of haberdasheries while the late James Butler, founder...