Word: receivershipped
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...Lawrence V. Kelly, both 29, and Artistic Director Nicola Rescigno tangled in a struggle for power-and Chicago's other musical movers and shakers joined in behind the scenes. Last week, after minuets of mediation, largos of litigation and concertos of comment, the Lyric was ordered into receivership (the receiver: Chicago Bar Association President Augustine J. Bowe). with its assets and liabilities probably to be assigned to a new corporation called Opera Theater Association, heavily backed by Carol Fox's friends...
...protect its claim, the Government put Lias into receivership in 1952, then decided Big Bill probably could run the federalized race track more efficiently than anyone else. Lias, who paid himself $65,000 a year as general manager, asked a modest $55,000 to do the job for Uncle Sam. Federal Judge Harry E. Watkins, supervising the receivership, scaled the request to $35,000. Of that, $15,000 is deducted for current taxes, $10,000 is applied to Big Bill's seven-figure debt to the U.S., and the remaining $10,000 is for Lias...
...Dallas' All-American Home Lloyds, in the red by some $235,000, was thrown into receivership by the Texas Attorney General. Three other companies-American Atlas Life Insurance Co., Dallas Fire & Casualty Co. and U.S. Life Insurance Co.-had their licenses suspended because their officers were "unworthy." One of the three, U.S. Life Insurance, was controlled by Shoemake...
Instead, charged the commission, Shoemake set up the Arkansas Fire and Marine Insurance Co., fed it some of U.S. Trust & Guaranty's assets. Last week, as the Texas attorney general threw U.S. Trust & Guaranty into temporary receivership, he charged Shoemake with "manipulating accounts to create a false appearance of solvency," and turned up with a shocking fact: while the State Insurance Commission waited for Shoemake to tidy up his business, more than $4,000,000 had disappeared, and the company...
Mickey has worked business miracles. During the Depression the Lionel Corp., manufacturer of toy trains, was rescued from receivership by the prodigious sale (253,000 items) of a handcar carrying figures of Mickey and Minnie Mouse. The Ingersoll people were pulled out of a bad financial hole by a terrific run on their Mickey Mouse watches-of which more than 8,000,000 have been sold to date. Since 1929 Mickey's name or picture has appeared on 5,000 different lines of merchandise, from milk of magnesia to a $1,200 diamond bracelet to a radiator...