Word: receivership
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...Conservators." Provided also was a halfway operating point for national banks between solvency and receivership. "Conservators" were to be appointed who could let out deposits on a limited basis, receive and segregate new deposits, help arrange reorganizations. Practically, "Conservators" would be national bank receivers who would run weak institutions instead of shutting them...
...Secretary is editor of Wallace's Farmer, founded by his grandfather and now in receivership. He is one of the original sponsors of Domestic Allotment as "the most intelligent scheme yet brought forward to furnish agriculture with a program for an orderly retreat." He loudly advocates currency inflation to relieve farm debt. Said he last month: "England has played us for a bunch of suckers. The smart thing to do would be to go off the gold standard a little further than England has. The British debtor has paid off his debts 50% easier than the U. S. debtor...
...stocky, slit-eyed San Francisco lawyer by the name of Harold Louderback could thank Senator Samuel Shortridge of California for the Federal judgeship President Coolidge handed him in 1928. Samuel Shortridge Jr., son of the Republican Senator, thanked Judge Louderback for the fat receivership fees he was handed in his court. Last week the House thanked New York's swart little La Guardia, watchdog of the U. S. Judiciary, for digging up evidence that resulted in Judge Louderback's impeachment...
...charges against Judge Louderback: 1) he dismissed a receiver who refused to appoint as his attorney a lawyer of the judge's choosing; 2) he granted excessive fees to Samuel Shortridge Jr. in a receivership later voided on appeal; 3) he appointed for Fageol Motor Co. a receiver whom he knew to be incompetent and unqualified; 4) he threw Prudential Holding Co. into receivership and appointed the same incompetent receiver "for the sole purpose of benefiting and enriching his personal friends and associates." A subsidiary accusation was that, to dodge a divorce suit in San Francisco, he established...
...Automobile Industry, "best managed industry in the U. S.," suffered its first major casualty last week. The $40,000,000 Willys-Overland Co. eased into a "friendly receivership." Chairman John North Willys, who gave up his expensive Ambassadorship to Poland last spring to resume command of his ailing company, and President Linwood Andrews Miller, were appointed receivers...