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44th Division tort Dix, NJ...
Nearing completion at Camden, NJ. this week is a Government housing project (for defense shipyard workers) the like of which the U.S. has never seen before. Ground for Camden's 500-family Audubon Village was broken only last February. The buildings were made by a partial prefabrication technique which enabled a crew of ten men to knock together walls and roof in three hours. But it is not only speed which makes Audubon Village unique. It is also the financial plan...
Since the U.S. Naval Air Station at Lakehurst, NJ. is hard by the Lakewood Country Club, many a Lakehurst officer has been able to brush up on his golf. Lakehurst last week challenged nearby Fort Dix to an Army-Navy golf match, named as their entrants Lt. Commanders George Watson, R. F. Tylor. Lieut. M. F. D. Flaherty...
...mathematics of the pyramid about the time Associated called. He was hired at $10,000 a month, but it was not certain whether he would get more than one month's pay. Unless RFC granted a $26,500,000 loan to Associated's sub-subsidiary NY PA NJ Utilities Co. (Nypan), unless SEC allowed Associated's No. 1 subsidiary (Associated Gas & Electric Corp.) to pass $557,000 up to the top of the pyramid as dividends or as interest on a note for $71,800,000 Associated was headed for bankruptcy...
...Associated directly, but its good operating company, NY PA NJ Utilities Co. (Nypan), is trying to borrow money so that Associated can pay off an $8,589,-980 (8%) bond issue which is due March 15, 1940. Also overdue is $5,780,000 owed the U. S. Treasury by Associated as the balance of an $8,700,000 settlement of a $50,000,000 tax claim. Mange wants RFC to lend NY PA NJ enough to pay off the bonds, pay the taxes; he is also asking for another lump for construction, $26,500,000 in all. The catch...