Word: harleys
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Ever since Floyd Bostwick Odium's Atlas Corp. jumped into the tangled affairs of Utilities Power & Light Corp. in 1935. an air of electricity has hung about everything connected with the $400,000,000 holding company and its pyramiding promoter, Harley Lyman Clarke. Since last autumn, when Promoter Clarke was edged out of the U. P. & L. presidency, the charges and counter-charges have mounted to high-tension voltage. Last week came the first legal payoff in the whole business. In Chicago, Federal Judge William Henry Holly approved a voluntary petition from the company for a 77B reorganization, issued...
Sued. Utilitarian Harley Lyman Clarke, 55; by Utilities Power & Light Corp., mammoth Chicago holding company whose presidency he resigned Oct. 29 ostensibly under pressure from Floyd B. Odium's Atlas Corp. which has bought control; for alleged misappropriation of $3,000,000; in "hicago. Utilitarian Clarke, still a P. & L. director, previously sought to intervene in P. & L. reorganization proceedings, charging Atlas Corp. with juggling its stock...
...Malayan ruler was in London ostensibly to consult Harley Street specialists who had been warned not to recommend operations, an outrage to the Sultan's beliefs. Whitehall wiseacres, however, were saying last week that the real purpose of the visit was to unravel a diplomatic tangle, the succession to the throne of Selangor. Two years ago the Sultan's eldest son was deposed, and, in accordance with Malayan custom, the second son was nominated successor. To this the British Colonial Office objected, nominated the Sultan's third son. To this the Sultan objected, said: "The British Government...
...some $25,000,000 Mr. Odium sold back to British subjects their Greater London & Counties Trust, Ltd., an aggregation of prosperous utility properties controlled by Promoter Harley Lyman Clarke's Utilities Power & Light Corp. Promoter Clarke had picked them up in the 1920's while he was pyramiding his $400,000,000 holding company. In the field of financial pyramiding Promoter Clarke was an architect with considerable imagination. He it was who piled his General Theatres Equipment, Inc. on top of Fox Film early in Depression, a heroic achievement which cost Chase National Bank many a million, sent...
...Utilities Power & Light Harley Clarke built along classic lines. The operating companies, serving 488 communities in Britain and 587 in the U. S. and Canada stemmed down from Utilities Power & Light Corp., a traditional holding company. Working control of this holding company, however, was held by a super-holding company called Public Utilities Securities Corp. ("Pusco"). On top of Pusco was a private super-super holding company, and on top of that was Harley Lyman Clarke...