Word: bankrupts
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...testify at the trial for seduction of his hand-picked successor as Governor). In 1932, when he finished his second gubernatorial term, which had been enlivened by an episode in the Governor's office involving a blonde and a pistol shot, he and Mississippi were both practically bankrupt. Shelved in Washington by kindly fellow Democrats with a $6,000-a-year job clipping newspapers, The Man two years later bounced into the U. S. Senate...
...years he worked at union organizing, quit to go into the teaming business for himself, sold out, weaved in & out of union work with occasional side ventures such as running a nightclub, working in three Chicago laundries. Three years ago a lawyer named Benjamin E. Cohen, attorney for a bankrupt Chicago laundry workers' union, asked Donovan why he didn't organize the city's 18,000 laundry workers. Bill went back to his first love with such vigor that within a few months his local (No. 46) had a signed contract with the 137 members...
...case was Floyd Odium's Ogden Corp., successor to Harley Clarke's bankrupt Utilities Power & Light system, which Odium has been splitting into its component operating properties since 1935. Biggest U. P. & L. property, Indianapolis Power & Light, was sold to the public three months ago (TIME, April 15). Ogden Corp. holds the U. P. & L. leftovers. Odium wanted to do something for Ogden's common stock, of which his Atlas Corp. owns 76%. He figured he could save around $110,000 a year by substituting a 2½% bank loan for Ogden's 5% preferred. Atlas...
Rickety little Broad Street Hospital, in the swarming alleys of Manhattan's financial district, has patched up many a cut finger and sprained ankle for brokers and clerks. Two years ago the hospital went bankrupt. Last year it was reorganized. The new directors changed its name to Downtown Hospital, chipped in $50,000 to keep it going. But everyone still called it Broad Street; and still the bills piled...
...upset price of some $11,000,000, the Mobile Federal Court ordered the properties of bankrupt Mobile & Ohio (St. Louis to Mobile) sold at foreclosure to G. M. & N., which already had ICC approval to absorb the larger road into a single, 2,007-mile system. First large railroad consolidation since 1934, it puts "Ike" Tigrett at the head of a new railroad named Gulf, Mobile & Ohio, which will start with a $31,870,000 funded debt and annual interest charges of $1,399,920 (about half the two roads' present fixed charges). An additional...