Word: receivership
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...should make its own car. The company became de Vaux-Hall Motors Corp. and in April 1931, its first de Vaux car was finished. Although May production was scheduled at 4,600 cars, registrations for all of 1931 were only 4,808 and fortnight ago the company went into receivership...
January failures were highest on record : 3.065 firms went under with liabilities of $266,172.000. Banks accounted for 290, tied-up deposits of $145,700,000. In receivership within the past month or with petitions pending were Ground Gripper Shoe Co., Long-Bell Lumber Corp. (TIME, Feb. 1 ), Western Steel Products, Ltd.. Ari zona Edison Co., Cuban Dominican Sugar Corp., Spreckels Sugar Corp. (TIME, Feb. 1), Cincinnati & Lake Erie Railroad Co., Multicolor, Ltd., Hamilton Gas Co., Hudson River Navigation Corp., Piedmont Utilities Co., American Equities Co., Texas-Louisiana Power...
Conspicuously first-in-line for a Federal loan was Wabash Railway, ineligible for help from the railroad credit pool as it went into receivership before the pool was established. Wabash had $5,000,000 worth of securities. On this collateral it wished to borrow $18,500,000. Though R. F. C. ruled that no application or loan shall be made public, the Wabash plea became known through the Federal court handling its receivership...
When a company shows two consecutive deficits of $45 and $38 on its first preferred stock, it is about time for that company to retire. Fisk Rubber Co. bondholders had some such idea in January 1931, when they threw the company into receivership after it failed to pay off an $8,000,000 note. Most people thought the last had been heard of Fisk...
Applicant for the receivership was Mr. Spreckels himself, owner of $10,000,000 par value securities in the company and its creditor for $50,000. Depression has hit the company so badly that it has only nominal cash, has current liabilities almost twice as great as current assets, has paid no dividends since 1924, is accumulating interest debts at the rate of $300,000 a year...