Word: postals
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Dates: during 1930-1939
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...prisons last week President Roosevelt swept by a pen-stroke 64 drug-peddlers, 50 counterfeiters, 37 assorted thieves, murderers, white-slavers, violators of postal, immigration, bankruptcy and motor theft laws. At 95? each per day, it was costing the U. S. $52,000 per year to support them in jail. Signing the largest deportation order in U. S. history, the President consigned the 151 criminals, aliens all, to exercise their talents in their native lands...
Italy will get the biggest lot-62. To China go 16. England gets a murderer from Alcatraz. The lone woman on the list, a postal lawbreaker, goes back to Ireland...
...Postal's problem is not unlike that of many a common carrier. Its annual revenues, now about $28,000,000, are not sufficient to meet fixed charges after paying all expenses. The bondholders will have to take at least a temporary cut in their coupon rate, and the preferred stockholders, who have had no return for four years, will probably be asked to accept a less preferred position in the capital structure. Knottiest question will be the treat-ment of the common stock, all owned by I. T. & T. The Brothers Behn not only issued more than...
...this effort increased Postal's share of the total available telegraph business from 17%, to 22%. But the company did not thrive. Deficits were reported for the last four years, and interest charges on $50,000,000 of bonds and debenture stock were met only by liquidating assets and borrowing from I. T. & T. Last week, facing another interest payment July 1, Postal's President George S. Gibbs petitioned the courts for permission to reorganize under Section 77 B of the Bankruptcy Act. So long had Wall Street awaited some formal recognition of Postal's plight that...
...days before the Postal petition was filed it was learned that nearly two months ago the company had retained for expert financial counsel none other than Charles Edwin Mitchell. Just what Mr. Mitchell has been doing in his modest little office had been something of a mystery ever since he returned to Wall Street last winter (TIME, Feb. 4). But the choice of the bankless banker as Postal's adviser appeared wholly logical. I. T. & T. was first financed by Edward B. Smith & Co. in the early 1920's but before the end of that decade the Brothers...