Word: corp
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Dates: during 1960-1969
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...presumably knew the answer-Anthony DeAngelis, 48, the president of the bankrupt Allied Crude Vegetable Oil Refining Corp.-clammed up. Allied set off the whole mess through its headlong speculation in vegetable-oil futures, and its failure to meet margin requirements brought down Wall Street's venerable Ira Haupt Co. Last week pudgy "Tino" DeAngelis, a onetime foreman in a New York hog-processing company, walked into a New Jersey courtroom crowded with 50 law yers who hoped for some answers. To the exasperation of all, DeAngelis took the Fifth Amendment 58 times in re sponse to questions...
...main island of Trinidad, Williams' Industrial Development Corp. recently celebrated the opening of the 100th factory attracted by tax incentives. And last July Texaco demonstrated its confidence in the new nation by moving its Latin American headquarters from Caracas to oil-rich Trinidad...
...other banks are stuck with more than $24 million in bad loans to Haupt, have agreed not to try to collect until customers who lost their stock because Haupt used it to get loans are paid off. Haupt's bankrupt commodity customer, Allied Crude Vegetable Oil Refining Corp., wove such a web of tangled credit deals (offering as collateral for loans stocks of vegetable oil that now cannot be found) that losses may total more than $150 million. Giant American Express Co. could face heavy losses because it operates warehouse facilities in which missing oil was supposedly stored...
...reputable firms could have let Tony DeAngelis, who had declared bankruptcy once before when trouble struck one of his commodity ventures, get so deeply in debt to them. Another puzzle was the mysterious disappearance from New Jersey storage tanks of $15 million worth of soybean oil that Bunge Corp., an Argentine-controlled oil exporter, had taken as collateral for a loan to DeAngelis. There were indications that the scandal might spread beyond its present scope. At week's end a third brokerage house, D. R. Comenzo & Co., was suspended from the New York Produce Exchange; it had lent Allied...
...report from Detroit went almost unnoticed last week, but it marked the end of a painful episode for a $277 million U.S. industry. In an out-of-court settlement, the A. & P. and the Washington Packing Corp., a small San Francisco cannery, agreed to pay $226,500 to the families of two Detroit women who died from botulism in March after eating a bad can of A. & P. tuna packed by Washington. After months of watching its sales dive because of the botulism scare, the tuna industry is now convinced that it has reinstated tuna as the housewives' steady...