Word: receiverships
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Dates: during 1940-1949
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...real questions for the Democrats now were who would inherit the receivership of the party, and who would be charged with the job of rebuilding for 1952? Those questions would not be decided at the convention. But rebellious Southerners were still threatening to hold their long-planned Birmingham meeting to discuss the future ownership of the party. That new struggle would occupy the efforts of wrangling Democratic politicos for the next four years...
Erleigh Sorrow. South Africa's breezy Norbert S. Erleigh, whose ?100,000,000 New Union Goldfields empire was recently thrown into receivership (TIME, Nov. 24), was arrested on a charge of theft for borrowing ?352,875 from New Union without the board's permission. He was let out on bail after he promised not to 1) leave the country or 2) dabble in New Union business. He found these conditions infuriating. With two new gold strikes on lots adjoining properties controlled by New Union, it looked as if New Union might get back on its feet without Erleigh...
...funeral train in 1865. For years it carried little other traffic. Although the Monon's 541 miles of track tapped the rich Chicago and Ohio Valley areas, the Pennsylvania and New York Central Railroads carried the region's freight and passengers. In 1933 the Monon went into receivership. It all but stopped carrying passengers; they were a nuisance. It ran freight trains only when there was enough freight to fill them. Then the war brought an inescapable transfusion of freight traffic and a $12½ million surplus...
...spectacular Robert R. Young has a big interest. Bob Young now has his hands full trying to take over the New York Central, merge it with his Chesapeake & Ohio (TIME, Feb. 3). But he has his eye on a vast transcontinental empire. If he can get MOP out of receivership-and take over control in the process-his next westward step might well be a deal with the Rio Grande. Last week Denver was abuzz with reports that Wilson McCarthy had already put out feelers toward a working agreement with Bob Young...
...rising costs. And with the seller's market turning into a buyer's market, manufacturers were afraid to boost prices higher. But even some of the laggards were suddenly doing well. Western Union, which had cried recently that it could not help but go into receivership, turned in a profit of $500,000 in the last quarter...