Word: liquidating
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Dates: during 1930-1939
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When the Cunard Line's oil-burning liner Scythia slid into New York Harbor last week, coal companies perked up, oil companies were cast down and a dead inventor was remembered. Instead of oil, a black turbid liquid had been pouring through one set of her fuel pipes, burning with sudden fierceness when it reached the combustion area under the boiler. First commercial company ever to use colloidal fuel, the Cunard Line last week called its experiment a complete success. Ignored for eleven years, colloidal fuel was news at last...
...viscosity of oil is lowered when the oil is heated. To permit the fuel to remain stable when the temperature is raised a saponifier, such as grease, or a peptizer, such as a coal tar product, is added. This mess of coal, oil and stabilizer was the turbid black liquid pouring last week through the Scythia's fuel pipes...
Cash and Government securities represent the bank's ready money. This expressed as a percentage of deposits is the bank's liquidity. Because U. S. depositors have been on pins & needles, ready to yank out their deposits in cash at a whisper of trouble, U. S. bankers have for months been keeping their banks highly liquid. But a highly liquid bank earns little money for stockholders. Cash earns no keep; Government bonds, particularly Treasury certificates, return a very low yield. Bankers point with pride at their ready money only because it bolsters confidence. Both the bankers and President...
...every one expected, the big banks reporting last week to Comptroller Pole (and the State chartered banks & trust companies simultaneously reporting to their State officials) were generally more liquid than ever before. The big banks in big cities relaxed a little after National Credit Corp. was initiated by President Hoover last autumn, but with new outcropping of banking troubles they had increased cash since March...
Though the company is not insolvent, officials readily admitted that it did not have sufficient liquid assets to meet current liabilities. Among the fixed assets listed were the claims just filed against Founder Fox, "worth many millions of dollars," and investments in subsidiaries, now in the hands of receivers or trustees themselves, and real estate on which mortgage defaults have been made, totaling...