Word: major
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Dates: during 1930-1939
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Something very like a major crisis, political and financial, loomed before John L. Lewis' three-year-old C.I.O. last week...
...week's end more than half of the 180 warehouses in the San Francisco Bay area were closed, some 2,500 of the 8,000 Bridges Warehousemen were out of work and the hot car, having traveled over 220 miles, had become a major pawn in San Francisco's ever smoldering labor...
...month) for the company (Bona Allen leather company) that owns the team. The other half of the semi-pro class play on teams owned by small-town merchant groups or individuals with $5,000 and a yen to own a ball club. They include many a onetime major-leaguer on his way out, many a schoolboy on his way up. But the backbone of the semi-pros are barbers, butchers, lumberjacks, bootblacks and other workmen who play baseball three times a week (two twilight games and one on Sunday) for a little extra revenue (usually $2 to $5 a game...
...Commerce Commission eight years ago. Since then he has been ICC's chief dissenter - notably on railroad reorganizations which, he said in 1936, "have not been sufficiently drastic." Last week, with Commissioner Mahaffie alone dissenting, ICC approved a reorganization plan as drastic as any ever devised for a major U.S. 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...
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...