Word: basic
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Dates: during 1930-1939
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Into bankruptcy went Missouri Kansas Zinc Corp., of Waco, Mo. with liabilities of $1,260,000 against assets of $750,000. Immediate cause: The filing of bankruptcy petitions by three creditors. Basic cause: Since October the price of zinc has dropped from...
Closed (by the Pennsylvania State Secretary of Banking) was U. S. ("United Strength") Bank and Trust Co. of Philadelphia. Immediate cause: The former management had frozen too many assets in commission loans.* Basic cause: The unprosperous situation in real estate...
...Handley Page has filed suit in Brooklyn for triple the amount of any prize the Tanager may win. He claims that the Curtiss plane is using wing slots on which he has a patent, without his warrant. The Curtiss company is expected to file counteraction claiming infringement of six basic patents by Handley Page in his ship. Both planes are biplanes, the Tanager a three-place enclosed ship with Curtiss Challenger 176 h.p. radial air-cooled motor. In addition to its slots, it has wing flaps, which vary the camber, or apparent thickness of the wing, and (the main feature...