Word: receiverships
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...ships for the Tennessee Publishing Co. (Tennesseans) and Southern Publishers, Inc. (Journal, Appeals). A third action by the receiver for Liberty Bank & Trust Co. demanded return of $166,000 obtained by Colonel Lea, his son Vice President Luke Jr. and others "by fraud and connivance." Reason given for the receivership suits: Partners Lea & Caldwell were guilty of "conversion, perversion, waste and misuse" of newspaper funds, and mismanagement of the papers...
...bond-buyer for Caldwell & Co. was Fred Dean, Alabamian. Last week he said the firm owed him $7,000, asked for a receivership. The receivership was granted and by the end of the week Tennessee bankers had witnessed the following fearful sequence...
...Cosden Receivership. In 1925 the most typical example of the oilman whose wells had gushed richly was Joshua S. Cosden, head of Cosden & Co. He had vast estates in Palm Beach and Long Island, entertained lavishly, followed horses as well as stocks. His wealth was estimated at $50,000,000. Surely his expenditures lent veracity to this figure. But after heavy losses in the stockmarket he lost control of Cosden & Co. which became Mid-Continent Petroleum Corp., was reported financially down & out. Three years later his friends financed a projected comeback. He moved from Manhattan to Fort Worth, energetically entered...
...last year. Seaboard common has dropped from $12½ to $1, preferred from $28 to $2¼. Last week the j railroad announced it was unable to cope j with the situation, asked its bankers, DilIon, Read & Co. and Ladenburg, Thalmann & Co., to help work out another new plan, i avert receivership. Chief immediate problem is the maturity of some $11,000,000 ; bonds during 1931. Seaboard Air Line is grouped with Wabash in the I. C. C. plan, but Wabash has shown no desire to acquire the unfortunate road. Southerners are familiar with Seaboard's practice of putting the names...
Approval of this plan followed by one day the second receivership suit. It was brought by William H. McFetridge of Chicago who says he owns 50 shares, is also suing for other stockholders. He charges that at the time the company was formed Mr. Dahlberg & associates made $10,000,000 in selling the new company land and equipment. In addition to similar charges, he says the company is hopelessly insolvent, cannot meet its obligations...