Word: receivershipped
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...financial and political empire of James Brown crumbled. The National Bank of Kentucky and the BancoKentucky Corporation were forced into liquidation. Mr. Brown, at that time, owned the Herald-Post and it, as a part of the Brown interests, was forced into receivership...
...System" was 1926, when gross revenues were $29,400,000, of which $2,700,000 were retained as clear profit. Next year revenues started to toboggan, reaching a low of $6,600,000 in 1933. Deficits piled up year after year until in 1931 Florida East Coast plunked into receivership. Interest was defaulted not only on the bonds floated by the House of Morgan but on equipment trust certificates as well. Last week a bondholders' committee sponsored by the House of Morgan made an interim report on the current state of Florida East Coast. The road's immediate...
Case concerned Tennessee Publishing Co. (Nashville Tennesseean). Before he went to jail and the company went into receivership, Tennessee Publishing was owned by Nashville's Luke Lea. The present owner of the common stock, E. W. Carmack, submitted several 77-B reorganization plans to Nashville's Federal District Judge John J. Gore, who refused to approve them on the ground that they required coercion of a majority of the creditors. The case turned on the point that 77-B not only provides a means of clubbing a stubborn minority into line if two-thirds of the creditors...
More serious was the effect on International's financial position. At the end of 1931, bank loans amounted to $36,000,000 and Chase National Bank began to have a louder voice in the management. But the conspicuous fact about International is that it did not go into receivership or a 77-6 reorganization during a period when nearly every other big newsprint company in North America did. By the end of 1934, President Graustein had cut bank loans to $15,000,000, though utility profits continued to drop and newsprint was, and still is, selling near its Depression...
...railroads went last week not into receivership or reorganization but into the grave. One died as a cattle-killer; the other was murdered by the motorcar...