Word: mortgagee
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Dates: during 1930-1939
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A sight that might make any monarch quail last week faced Denmark's tall, saturnine King Christian X. The great, eight-sided courtyard of Amalienborg Palace was jam-packed with strapping, irate Danish farmers in the grip of a grievance. The King, as he peered from his palace, noted...
Hugely complicated, the new plan would consolidate MOP and 30 separate companies into one corporation, would replace 83 issues of indebtedness with three and 35 kinds of stock with two. Only issues left undisturbed would be equipment trust bonds. Of the three new issues of indebtedness, only one, a 4...
Otis & Co. marched into an Akron court and, by virtue of owning ten shares of Goodrich stock, got permission to inspect the books of Mr. Tew's company. Then it began rounding up proxies to try to prevent approval of the new first mortgage at a special stockholders'...
For several days President Tew kept silent. Then he gave stockholders an explanatory statement which cut considerable ground from under the Otis complaints. Reiterating that "it was in the best interest of the company not to deal with Otis & Co. as an underwriter," he outlined the benefits of the new...
When the special stockholders' meeting was convened last week, Otis & Co. counted in its favor the fact that under Goodrich by-laws at least 75% of the stockholders must approve all first mortgage financing. Since Goodrich has paid no dividends for a number of years, although it is currently...