Word: debtors
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Next morning he marched down to the Federal Court and there filed with the judge a schedule of his assets and liabilities and a petition asking for a conference with his creditors. The judge granted the petition. At the conference Debtor Doctor told his creditors he would: 1) settle for 33? on the $1; 2) pay in full if given an extension; 3) be thrown into bankruptcy if neither proposal was accepted. The holder of the deficiency judgment, demanding his $1,000, favored bankruptcy. The grocer was ready for a time extension. But the landlord, the friend with...
...program for an orderly retreat." He loudly advocates currency inflation to relieve farm debt. Said he last month: "England has played us for a bunch of suckers. The smart thing to do would be to go off the gold standard a little further than England has. The British debtor has paid off his debts 50% easier than the U. S. debtor...
Edward Dickinson Duffield (Prudential Life Insurance Co.)-"It's difficult for Congress alone to cure things. . . . Modification of debtor-creditor contracts often are needed and justified but to destroy the obligations attaching to such contracts will weaken the entire basis of our system. A 70? dollar wouldn't be so bad if businessmen were sure that it would be maintained as a 70? dollar...
Originated in Iowa, that technique last week was fast spreading to the rest of the country. Throughout the Midwest auction after auction was held at which a debtor's friends bid in his property for a few cents and then returned it to him while the creditor was being restrained, forcibly or otherwise, from participating in the sale. At Deshler, Ohio, a $400 debt was extinguished last week for $2.15. At Malinta, in the same State, a large noose was ominously suspended from Albert Roehl's barn to scare off outside bidders. Illinois' Governor Horner...
...luncheon for Chancellor Chamberlain at which he said: "The British Government is not assuming that the United States is asking any compensation in the forthcoming debt discussions. Our view is that an adjustment of these debts is as much in the interest of the creditor as of the debtor and, therefore, I deprecate the suggestion that the coming negotiations should be regarded as a big swapping deal...