Word: bankrupt
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Dates: during 1940-1949
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Congressman Albert Engel of Michigan, taking one look at this onslaught on the U.S. Treasury, another look at the economically bankrupt, politically epileptic country of Greece, and another look at Britain, uttered the first angry yelp. Why, Engel demanded, should the U.S. pull "Britain's fat out of the fire...
...Central. (Until he does, the ICC has ruled that the Chase Bank will vote his Central stock.) When and if he does get control, he plans to mesh the Central into his other railroads. Next step in Young's master plan is to gain control of the bankrupt Missouri Pacific railroad, now fat with war profits. By virtue of the stock he held in it before it went broke, Bob Young hopes to have control, when it is reorganized...
Another grandiose Social Credit idea turned out last week to be bankrupt. In Alberta's Supreme Court, Chief Justice Horace Harvey and his four colleagues ruled that Premier Ernest Charles Manning's sweeping "Bill of Rights" was unconstitutional. The court's reason: Alberta's brand of Social Credit would infringe on Dominion control of banking...
...bondholders' trust. Conrad Hilton, owner of Chicago's Stevens ("world's largest") and twelve other hotels, thought he had the inside track. Hilton started dickering last year, first offered $22 apiece for a controlling quantity of the 58,200 trust certificates issued after the hotel went bankrupt in 1935, gradually raised this to $44, with no takers...
Like the heirs of a bankrupt corporation, Democratic politicos ploughed through the books last week, trying to find out what had gone wrong. They had expected a slump. But few of them had anticipated the size of the crash. Its causes were still as tangled as discarded ticker tape...