Word: get
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Dates: during 1930-1939
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...cocky Adolf Berle (rhymes with surly), this assignment was what a murder trial is to a cub reporter. Early in July Mr. Berle completed his "Memorandum of Suggestions." It was not quite the sort of thing New Dealers hand out to the press, but last week it finally did get into print...
When last week's deal was negotiated, eleven Dollar ships were laid up, only four were in commission. To get them afloat again, the Maritime Commission will make a loan of $1,500,000, and get an RFC loan of $2,500,000 for working capital, grant a five-year operating subsidy of some $3,000,000 a year. To the Commission goes all the line's Class B stock (2,100,000 shares), almost half of its 252,000 shares of Class A stock. Six months after the transfer, the Commission will abandon the Dollar name...
...railroad. Under this plan, portentous for an industry snowed under by its bonded debt, Chicago Great Western Railroad's capitalization will be cut from $139,247,313 to $62, 291, 827, its annual fixed interest charges from $1,705,532 to $767,071. Common stockholders will not get a cent; preferred stockholders will swap their shares (par value: $46,073,500) for new common stock (par value: $11,518,375); first-mortgage bondholders will get new stocks and bonds and 67.92% of the voting power...
First reorganization of a major Class I carrier approved by ICC, this pro-bondholder plan is a far cry from most of those adopted before 1933's amendments to the Federal Bankruptcy Act. Formerly, the practice was for underwriters to get a friendly creditor to bring suit in a friendly court, thus in effect pick their own receiver-who generally favored stockholders over bondholders; often railroads were in as bad shape after reorganization as before. Under Section 77, ICC can insist on its own reorganization terms or rewrite plans originally submitted. ICC accepted almost wholly the trustee...
Kentucky-born Leane Zugsmith's Summer Soldier is about Harlan County. She calls it Chew County. Seven slightly screwy liberals join a committee to investigate conditions in Chew. Five of them, riding down in a stuffy train, get a wire from their chairman, Hankemer, who> has gone ahead: Do not get off at Chew get off at Zara...