Word: receivershipped
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Gerald Colby indicated that Homsey had negotiated the loans in order to buy stocks for his own account. Homsey was arrested last month (he is free on $10,000 bail), and his firm was suspended from the Boston, American and New York stock exchanges and placed in receivership. Among the assets: Homsey's exchange seat, which can be disposed of at the going price (about...
...some stockholders, Chrysler's management was not moving fast enough. Three of them filed suit last week asking that Chrysler, ninth largest U.S. company, be placed in receivership. The three stockholders: Chief Chrysler Critic Sol Dann, a Detroit lawyer, Samuel S. Schwartzberg, a New York Chrysler stockholder, and Detroit Attorney Karl S. Horvath, a former production manager of Chrysler's Twinsburg, Ohio plant. Charging "gross and unconscionable mismanagement" and "fraudulent practices dating back to 1940," the suit-third to be filed by Chrysler stockholders in the past month-charges three top Chrysler officials with improper dealings with suppliers...
...dipping into the multimillion-dollar "special organizing" fund for uncounted amounts, destroying union records of the takings. The suit demanded court protection for the complaining members and their local union (Local 101, Baltimore) against the Carpenter practice of strong-arming down all opposition, begged the court to set a receivership over Carpenter property to run the union's affairs...
Died. Harold Sines Vance, 69, board chairman of Studebaker (1935-53), who with the aid of Studebaker Sales Chief Paul Hoffman, pulled Studebaker out of receivership when it went under in the Depression; of pneumonia; in Washington. Vance served on the Atomic Energy Commission since 1955, where he advocated use of atomic energy in industry...
...Imbecile † Sloppy ** Sallow †† Prematurely aged * The firm eventually went into receivership. Today's Harriet Hubbard Ayer, Inc. (now a subsidiary of Nestle-Le Mur Co.), though named for her, is a different business, founded...