Word: receivershipped
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...plan the I. C. C. had ordered a fifth East ern system to be composed of the Wabash, the Seaboard Air Line and a rag-tag-bobtail lot of small lines. Because no body advocated such a fifth trunk line, because both Wabash and Seaboard are in receivership, the I. C. C. dropped the idea and consented to a four-way division. The Seaboard was left to the South, the other lines were parcelled out among the Big Four...
...myself and staked a fortune. All hands worked with a vengeance. . . . The morning we tried the first trolley up the steepest grade, it crept up the 10% slope slowly, steadily, wobbling here & there. After an eternity it reached the crest and the men cheered. Our company went into a receivership in the end but. . . contracts poured in from all over the world." In New Orleans, at a mass meeting demanding electric instead of mule railways, posters read: "Lincoln set the Negroes free. Sprague has set the Mule free...
Busy Mr. Hopson was also bothered last week by a receivership suit against General Gas & Electric, a $129,000,000-in-assets affiliate of A. G. & E., and by a plea made by minority stockholders in Metropolitan Edison Co. that the Pennsylvania Public Service Commission investigate its financial structure and transactions with A. G. & E. Last week's bond-selling came on the heels of a long, substantial rally in bonds which carried the Dow-Jones averages from 65.78 on June 1 to 71.37 last week. It was on June 3 that a group of powerful Manhattan bankers, under...
Insull Lop. Into bankruptcy last week went National Public Service Corp., intermediate holding company for the "Insull" properties in the East, chief subsidiary of National Electric Power. In receivership a fortnight ago, the company sought to have its five Manhattan banks (Chase National Bank, Central Hanover Bank, Manufacturers Trust, New York Trust, Chemical Bank) reach a standstill agreement on their loans of $20,000,000. When the receivers failed to accomplish this they resigned in a huff. The action means that the bulk of the Eastern part of the great utility system has been lopped away, will probably break...
...acquired by Samuel Insull in 1924 through a subsidiary of Commonwealth Edison Co. which furnishes it with power. Its receivers are Col. Albert Arnold Sprague, Chicago Public Works Commissioner, and the company's president, Britton Ihrie Budd. All of Chicago's electric street railways are in receivership...