Word: receivership
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...unification of all its transit lines (TIME. Sept. 5). The ousted directors represented I. R. T., the subway system which leased all Manhattan Railway's elevated lines for 999 years, and pledged itself to pay interest & dividends on Manhattan securities. When I. R. T. was thrown into receivership, it was an open secret that the chief purpose of the receivership was to break the unprofitable lease of the El. Insurgent Amster is fighting its abrogation.* But even if the lease is broken, he claims he can put the El on its own feet by installing escalators, refurbishing cars, teaching...
...Chrysler told his 75,000 dealers and salesmen that the new Plymouth was base priced at $495, that price reductions averaged $60. Frisco Turnabout. The sprawling St. Louis-San Francisco ("Frisco") Railway Co., which owns rail enough to double-span the distance between Berlin and Bagdad, averted a receivership action two months ago. Last week it performed a turnabout. Its management went to Federal Judge Charles Breckenridge Faris of St. Louis, the judge who gave the Frisco "another chance" in the first action, and told him a tale of depleted cash, crippled borrowing power, pressing creditors. President James Malcolm Kurn...
...biggest wheat raiser in Texas and one of the biggest in the U. S. called his creditors together two months ago and told them he was broke. Last week a rural hardware store to which he owed $600 petitioned him into receivership...
Proponents of industrialized farming saw little significance in Hickman Price's receivership. They pointed out that it was weather, not prices which ruined him. They feel that with fair conditions and, perhaps, more operating experience, Hickman Price could have raised wheat cheaply enough to weather even last week's low prices. They see a lesson in the fact that he failed to diversify his crops. Such large-scale farmers as Montana's Thomas Donald Campbell believe that farm corporations of the future must own land in three or more parts of the U. S. to insure themselves...
...Loads. Seatrain Lines, Inc., which ferries loaded freight cars from New York to Havana and New Orleans, last week had a competitor by sea and a counterpart by land. The competitor was a car-ferry service by Florida East Coast Railway Co. The East Coast, long in receivership, has operated a ferry between Key West and Havana, was last week authorized to use its surplus equipment and extend the service to New Orleans, just as fortnight ago Seatrain Lines, Inc., was authorized to extend its route to New York (TIME...