Word: receiverships
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With Mr. Jones's approval the eight railroads* last summer jointly applied to the Interstate Commerce Commission for permission to buy M. & St. L. ("The Peoria Gateway"), which has been in receivership for the past 13 years (TIME, Sept. 23). Purchase price was to be $7,200,000, lent by RFC. Last month while I. C. C. hearings were still being held on the plan, Minneapolis citizens got excited, began raising a war chest to fight the M. & St. L.'s dismemberment, asked Congress to go to bat for the integrity of the road. The Senate voted...
...when swashbuckling Democratic Promoters Luke Lea & Rogers Clark ("Bank on the South") Caldwell bought the paper in 1928. With the collapse of Caldwell's Southern banking and publishing empire (TIME, Nov. 24, 1930), the Journal regained its Republican editorial policy, limped along under the jury-rig of a receivership, with able General Manager Robert H. Clagett keeping a tight grip on the helm. Last week when Roy N. Lotspeich, socialite president of Knoxville's big Appalachian Mills Co., came forward with $450,000, for which New Orleans' Canal Bank & Trust Co. turned over the paper...
...insolvency record of the furniture industry went from 79 manufacturers with total liabilities of $3,710,000 in 1929 to 143 manufacturers with liabilities of $11,223,000 in 1932. Included in the latter figure was Berkey & Gay, which closed down its plants in 1931, went into receivership in February...
...quietly to Manhattan. Remaining in seclusion unrelieved was her 69-year-old husband, Joseph Wright Harriman. onetime socialite banker, whose exploits in dementia during his criminal trial three years ago scarcely equaled those by which he put his Harriman National Bank & Trust Co. into the red and finally into receivership in 1933. As prison librarian at Lewisburg Federal Penitentiary, Convict Harriman had ample opportunity last week to read in the Press of the embarrassments his bank caused in Wall Street before its collapse. He had, he discovered, caused a legal battle which would make U. S. banking history whatever...
Saved by one vote, Judge Ritter did not move a muscle as the clerk began to read aloud the second count of the indictment charging that Judge Ritter connived to have a receivership suit brought for his own profit. Again the roll was called: 52 "guilty," 32 "not guilty...