Word: mortgagee
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Dates: during 1930-1939
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In 1920, small Lucille Langhanke had ceased to exist. She had become Cinemactress Mary Astor. By 1925 she was leading lady for Douglas Fairbanks. Squat Otto Langhanke had long since retired from school-teaching and chicken-raising. He was a well-to-do Hollywood gentleman, accustomed to dressing in a...
Buried almost out of sight in a subsection of a proposed bill which RFC Chairman Jesse Jones sent to the Senate last week, was a whole new world of Government money lending. The rest of the bill was largely concerned with details of RFC loans to banks, railroads, insurance companies...
Arthur Curtiss James, owner of more railroad stocks than any man in the U. S., controls only one major road-Western Pacific. While Western Pacific was pleading for a $1.000,000 loan from RFC last summer, it was revealed that Mr. James owned 352,000 of its 574.000 common shares...
Instead, the road asked its bondholders for a one-year moratorium. All interest due this year would be paid in a lump sum in 1937. The junior creditors have already agreed to a moratorium provided holders of 75% of the first mortgage bonds also waive their claims. In a joint...
Western Pacific's plans for avoiding a bankruptcy reorganization were aided by the fact that its creditors were not the usual army of anonymous bondholders. The first mortgage bonds are substantially its entire funded debt and one-half of them are owned by a few big insurance companies like...