Word: receiverships
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Dates: during 1920-1929
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...Irving Trust Co. has announced that the company will continue to operate so that the Metropolitan will still be Knabe equipped, the Chickering will go to many a home and artists will continue to use Mason & Hamlin. And stockholders were somewhat cheered by the assurance in the receivership petition that although the company at present was "unable to meet its matured debts by reason of lack of working capital and is unable to establish adequate means to borrow money." American Piano is "still solvent...
...while the common, now Durantless, went to 4. Although both stocks had already suffered during the break, last week's decline had its own reason-"friendly" receivers were appointed as the result of a petition by Bethlehem Steel Corp., said to be a $400,000 creditor. In this receivership there was not evident the aftermath of the market's break, as had been true in the Fox trusteeship (TIME, Dec. 16), nor of poor trade conditions as in the American Piano receivership (see p. 30). There was little reason to believe that Combustion's total assets, which...
...third and final special article, written by Mr. Rogge, discusses "The Differences in the Priority of the United States in Bankruptcy and Equity Receiverships." This points out the curious fact that it is of substantial value to the United States that assets of an insolvent debtor should be distributed in an equity receivership rather than in bankruptcy. To other creditors, on the other hand, it is advantageous that it should be done in bankruptcy. The article suggests a brief statute by which the differences could be eradicated...
When General Lafayette romantically left France to help liberate the American colonies he brought with him a young man, Joseph Fouche, whose father was chief of police under Napoleon. The descendant of that young man is the Wilbur Burton Foshay who last week calmly agreed to the receivership of all his properties...
Despite these optimistic predictions, some of the debenture and stockholders who had not agreed to the proposed re-organization hinted that the main trouble lay not in the agricultural conditions but the management. Through a spokesman they said, "We propose to organize a committee to resist the receivership on the ground that such receivership would represent a retention of control and extension of influence by the same group responsible for this magnificent ruin. . . . The receiver proposed (John R. Simpson, president of Cuba Cane, Vice President and Director of Sinclair Consolidated Oil Corp.) is not qualified...