Word: receivership
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...District Court at Hartford, Conn, last week appeared Vincent W. Dennis, a McKesson & Robbins' stockholder and corporation counsel of Hartford. Representing that at least $10,000,000 in nonexistent assets had been fraudulently written up on the company's books, Stockholder Dennis asked for a temporary equity receivership...
Chapter 2. In Manhattan that evening Lawyer Wilbur Love Cummings, a McKesson & Robbins director, was called on the telephone by the company's treasurer, Julian F. Thompson, and told about the receivership. Mr. Cummings thereupon turned amateur detective. He tipped off another director. Partner Sidney J. Weinberg of Goldman, Sachs, who is a governor of the New York Stock Exchange, and the Exchange suspended trading in McKesson & Robbins next morning...
Established in 1894, C. & E. I. went into receivership in 1913, was reorganized in the oldtime manner in 1920-i.e., left with a top-heavy capitalization. Although the road managed to make a puny net of some $400,000 a year during the booming 205, it began piling up deficits in 1930 ($7,000,000 that year...
...pyramid into a single geographically integrated system. Most commentators have expected that whatever company Bill Douglas chose to chop up first would ap peal the "death sentence" to the Supreme Court. Here, Bill Douglas was smart - he picked $303,813,000 Utilities Power & Light, which is already in 776 receivership. SEC must pass on such reorganizations anyway. Last week, Chairman Douglas jubilantly called newshawks to his office, announced that it would be unfair to U. P. & L. stockholders to "pull them out of reorganization on the normal basis of a fair plan and then bump them again with an order...
With his own company on a sure footing, ambitious William Collins last spring took a look at wobbly old Hamilton-Brown, which had lost $6,000,000 in ten years, was then in receivership. Deciding he could get it off its uppers, he organized a syndicate and bought control for "about...