Word: receivership
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...realized it would take several months of bickering to put through the cut. Last week the industry got a taste of what might happen in the meantime. Rutland Railroad Co. (407 miles of track mostly in Vermont), which has lost $2,000,000 since 1931, went into receivership two months ago and Federal Judge Harland B. Howe granted an injunction preventing creditors from hindering the road's operations. Recently the Rutland has been losing $2,400 a day. This month the court directed that the receiver temporarily reduce wages 15%. After the employes rejected this plan Judge Howe last...
Presumably put through privately by Chairman Jones and Daniel Willard Jr., the deal was as fabulous as it was timely: through RFC, B. & O. sold its down-at-the-heel canal to PWA (subject to a court receivership settlement) for $2,000,000, approximately $1,000,000 above its book value, thereby getting enough cash to meet its interest payments. Exactly what PWA will do with its canal is still uncertain. According to present plans, it will turn the property over to National Park Service, which may restore the picturesque taverns and lock houses flanking the waterway. The 22-mile...
...World was let loose with charging horses, yippiding cowboys, lassos thrown to rope in the general public. In Washington last week McCoy's broncos seemed all too sadly busted. First, F. Stewart Stranahan of Providence, R. L, with a $17,500 claim against the show, threw it into receivership. Then, padding at Stranahan's heels, a delegation of McCoy's Sioux Redmen visited Commissioner of Indian Affairs John Collier, threatened a sitdown strike against Tim McCoy unless he: 1) came through with back pay, 2) furnished more than one clean shirt a week, 3) provided free...
...being investigated by SEC. Brokerage transactions for both were handled by the firm of Prentice & Brady which began liquidation April first and is now being investigated by the Attorney General's office (TIME, April 25). C. When the ig-year-old firm of Hoagland & Allum went into receivership with a shortage of some $700.000 to $750,000, and only $196 in the till, Chicago had the biggest brokerage failure in 15 years. Hoagland & Allum never belonged to a stock exchange, did belong to the Investment Bankers Association until 1932. That year it went through reorganization...
...First automobile was made in 1901. By the time of the World War the plant was booming on truck contracts for the Army. The company was bought by Studebaker in 1928, in 1929 had net earnings of $2,566,112. Left a grass widow when Studebaker went into receivership, Fierce-Arrow lost $3,000,000 in 1932 in the face of Depression and better cheap cars. In 1933 a group of Buffalo businessmen paid $1,000,000 for the Pierce plant, tried a $2,300 car (previously Pierces cost as much as $6,400), then trailers. Last summer, when...