Word: receivership
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...decision put Young down but not out. ICC now has a panel at work deciding whether its reorganization plan should be reconsidered to see if MoPac's earnings were bigger than the 1949 plan allowed for. If the panel decides yes, the whole MoPac receivership battle, already 19 years old, may begin all over again...
...years since its founding, Illinois' tiny (239 miles) Toledo, Peoria & Western has made lots of news, most of it bad. Long known by such names as the "Tired, Poor & Weary," the T.P. & W. was twice thrown into receivership, three times sold at auction, and has to its debit one of the nation's worst railroad disasters (81 killed). After World War II, a long and bitter strike resulted in the shotgun killing of two strikers (TIME, Feb. 18, 1946). In 1947, T.P. & W.'s anti-union President George McNear Jr. was himself killed by a shotgun blast...
Many stockholders, said Cook, do not know that old stock in reorganized companies must be turned in. Since the unorganized companies have often been in long receivership, their address lists of stockholders are usually out of date. To find the stockholders, SEC has prodded companies into hiring tracer agencies...
...STORY ON SALESMAN FRED WARD OF DENVER IN THE JAN. 21 ISSUE, TIME ERRED IN SAYING THAT THE J. K. MULLEN INVESTMENT co. TUMBLED INTO RECEIVERSHIP...
...MULLEN CO. WHICH FILED THE BANKRUPTCY PETITION AGAINST FRED WARD. THE MULLEN CO. DID NOT GO INTO RECEIVERSHIP AND IS COMPLETELY SOUND...