Word: receiverships
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...from his father, James Alfred, bril liant Civil War banker. Most remembered of his financial operations was the formation of Mexican Telegraph Co. and Central & South American Telegraph Co., later merged by him into All America Cables, Inc. In 1925 he achieved a measured prominence by stoutly championing a receivership for the Chicago, Milwaukee & St. Paul, permitting himself at that time one of his few essentially quotable phrases: ". . . An open wound demands attention. A scar does...
...What more sacrifices are there for me to make to save the companies from the destruction and dismemberment of receivership into which their powerful enemies are bent upon plunging them?" Cineman William Fox asked this question last week-another appeal to his stockholders, perhaps the last before they gather on March 5 to decide the fate of Fox Films & Fox Theatres. Desperate as the Fox appeal sounded, Cineman Fox must have gained at least some slight assurance last week from the thought that his famed and feared Lawyer Samuel Untermyer was bending his gaze on the Fox dilemma. Lawyer Untermyer...
Christopher Morley, whimsical gentleman of letters, last week filed a petition for a receivership for the Hoboken Theatrical Co. which has presented sundry old melodramas and musical diversions in musty old theatres in Hoboken, N. J., 15 minutes by tube or ferry from Manhattan (TIME, Sept. 3, 1928, March 25, Oct. 7). The reasons adduced by Mr. Morley in his petition, more notable for turns of phrases than fiscal persuasiveness, were: 1) peculation and mismanagement on the part of former associates and employes; 2) superfluous production costs; 3) summer decline in business; 4) the stockmarket disturbance. Mr. Morley declared that...
Shortly after noon, William Fox, coat collar turned up, snap-brim hat bent down over his face, arrived to give his verdict, to choose between the new trusteeship or receivership. So momentous did he consider the occasion he let his photo be taken, for the first time in 15 years. Looking straight ahead, he hurried into the building, entered Judge Coleman's private office. The attorneys waited outside, hoping that this day would see an end to one of the greatest tangles of recent financial history. An hour and a half later the Fox answer came. Judge Coleman, alone...
...silent, however, was Attorney Stanley M. Lazarus, who promptly made good his previous threat of asking for a receivership. Charging that "mismanagement and maladministration" had resulted in "serious and threatening financial difficulties," Mr. Lazarus lamented the fact that Mr. Fox holds voting control, fixed the adjective "socalled" upon the directors. To these claims Fox Attorney Samuel Untermyer declared the action was brought by "a handful of stockholders" and that the corporation was "overwhelmingly solvent...