Word: receivership
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First effort to put U. P. & L. into receivership was last autumn when a group of creditors filed a reorganization petition at Freeport, 111. The company denied insolvency (which it did again last week) and had the case transferred to Chicago. Judge Holly then denied ex-President Clarke the right to intervene except as a creditor, which he did in a new action filed in Virginia, where U. P. & L. is incorporated...
...Service Co., just as he got his great holding company, Consolidated Oil Corp., on shares with the Rockefellers in 1932. Oilman Sinclair's triumph was the acquisition of working control of Richfield Oil Co. in a reorganization whose long-drawn negotiations began as soon as Richfield went into receivership...
...there was a report that Harry Sinclair had been elected board chairman of a West Texas Company called Rio Grande Oil, which had a branch in California. Rio Grande soon slid to the brink of receivership and Oilman Sinclair denied that he had anything to do with the company. Just ten months later, however, Harry Sinclair's new Consolidated Oil Corp. acquired control of Rio Grande with the help of Elisha Walker's Interstate Equities Corp. in a deal which has since aroused the curiosity of the Securities & Exchange Commission. Thus, at about the time Richfield was succumbing...
...earnings looked rosy for the first quarter of 1931, but additional funds were acutely needed by autumn, and something had to be done to avoid receivership. The Class A stock which sold as high as $50 per share in 1930, was selling at $12 by October 1931, later fell...
Chapter 4- Despite the money Radio put into it, poor pictures, fancy leases and a mammoth funded debt got RKO eventually. The investments in subsidiaries were written down some $8,000,000 and RKO finished 1932 with a loss of $10,600,000. quickly plunged into receivership...