Word: reale
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Dates: during 1930-1939
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That year he began borrowing heavily on his newspapers and real estate, carelessly scrawling his signature as further security for the debts. By 1930 banks had floated $60,000,000 worth of bonds and mortgages personally guaranteed by Hearst. Meanwhile the stockmarket had crashed and Hearst was strapped again...
...familiar item of "circulation, press franchises, reference libraries, etc.") in spite of the fact that these same papers had lost $550,000 in 1934. But other Hearstpapers were losing even more (the New York American lost around $1,000,000 a year), and real-estate values had toppled. Hearst was hopelessly mired in extravagance and debt and was squirming to free himself...
...around him a staff of top-flight Hearst executives headed by the Chief's old favorite, Thomas J. White, and consisting of Harry M. Bitner, general manager of newspapers; Richard E. Berlin, publisher of magazines; Joseph V. Connolly, head of features, wire service and radio; Martin F. Huberth, real-estate adviser; Frej E. Hagelberg, auditor; and W. R. Hearst Jr., ablest of the sons, to represent the family...
...Milwaukee, folded Universal Service into International News, tabbed the Boston American. This plugged a drainage of nearly $5,000,000 a year. Executives White and Hearst Jr. began liquidating the Hearst art treasures. Executive Connolly got rid of seven radio stations for $1,215,000. Executive Huberth told Hearst real-estate bondholders they could reduce interest charges or take the buildings. The bondholders took the Ritz Tower, where Mr. Hearst lives when he is in Manhattan...
...last year (Sunday circulation was up slightly to 6,714,430), the retrenchment of Hearst is almost over and Trustee Shearn's main task for a good many years will be to pay bills, reduce bonded indebtedness and get Hearst's real estate out of hock. Whether he can do that depends on readers, advertisers and creditors. Readers are fickle and advertisers scary, but the banks and newsprint manufacturers who are Hearst's largest creditors cannot afford to let Hearst fall apart...