Word: receiverships
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...graduated by Harvard, magna cum laude. He started then with the Chicago Burlington & Quincy Railroad, became a leading force in St. Louis railroading. He was an adviser to many cities on their terminal systems. He brought the United Railways (St. Louis street cars) through long years of wavery receivership into reorganization as the Public Service Co. During the War, he left the British Army to manage transportation of munitions...
...Chicago last week stockholders of Celotex Co. approved a plan which will constrict the activities of Bror Gustave Dahlberg, the company's enthusiastic founder-president. And in Chicago last week the second receivership suit of the year was filed against Celotex...
...faith in the company. When Celotex was around $50 last January he wired all stockholders, telling them the stock had only partially recovered, not to "unwittingly sacrifice" their holdings. But by June it had slipped to around $40, then broke sharply to $20 when one David Adler sued for receivership. It recovered somewhat when the suit was thrown out of court and charges made that Plaintiff Adler had stock manipulations in mind. But when last week's events transpired Celotex stock was at $10?...
Another rubber item last week was a petition for receivership against Kelly-Springfield Tire Co. (Keep Smiling with Kellys). Answering that the application had not been made in good faith, Kelly-Springfield claimed it has suffered no more than any other tire company, that its present position is better than the "current assets nine times current liabilities" showing of June 30, that it earned $270,000 during July and August...
Lamport & Holt. More pleased than shocked were Britishers last week when venerable (formed in 1845) Lamport & Holt Ltd. went into a receivership. The Royal Mail Steam Packet group of shipping companies, to which Lamport & Holt belongs, has given many a shock already and last week's receivership merely meant that the management has started a reorganization. Shipping men foresaw some such development when Lamport & Holt withdrew their South American passenger service recently (TIME...