Word: receivership
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Since then Silliman Evans has successfully carried off several big jobs; but none bigger than when in 1937 he bought the Nashville Tennessean, four years in receivership, impoverished by the mismanagement of its jailed publisher, Colonel Luke Lea, and soon made it again one of the most powerful papers in the State, one of the best-read Southern papers in Washington...
...second major railroad to fall victim to depression-the 2,409-mile Wabash, in the courts since 1931 (the Seaboard has been in since 1930). The Wabash, known as "the road that starts nowhere and ends nowhere," has defaulted four times in 66 years, spent 22 of them in receivership. It lacks seaport and gateway terminals, depends on other lines to feed it about two-thirds of its business. But its straight-sweeping main line from Buffalo to Kansas City avoids the congestion at Chicago and St. Louis. The Wabash was therefore one of the biggest chips in the great...
Last week a group of railroads (which remained carefully anonymous) talked over a plan for a $1,000,000,000 pool* to purchase new equipment with the help of RFC. This would ease the financial burden on railroads in receivership or short of cash, of which there are still many. For all roads it would avoid the necessity of selling any more equipment trust certificates in a market near the saturation point after whopping sales of $52,000,000 in June. It might even speed car production by bulking and standardizing orders and by multiplying pressure to make priorities effective...
Last week a Portland, Maine court decision brought temporary relief to the family of famed Medicine Woman Lydia Estes Pinkham. The court dismissed her granddaughter's bill in equity seeking to place the Lydia E. Pinkham Medicine Co. in receivership...
...sales fell and advertising appropriations became a trickle, the Pinkham brothers got an injunction restraining the distaff side from "interfering in the conduct of the business." But Lydia was not to be restrained. She pursued a petition for receivership, charged Arthur with mismanagement. Far richer than the Pinkhams, Lydia knew full well she could outbid them should the corporation be placed on the block...