Word: receiverships
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...week's decision meant but one thing: that mutual support was no longer considered as great an asset as independence. To begin with, United Drug's chain-store profits have long since vanished , principally because of the effect of depression on Louis K. Liggett Co., now in receivership (TIME, April 10). From the standpoint of supplying cash for Drug Inc.'s dividends, one of the biggest members of the team was not supplying any support whatever. Second point was that the support had never proved to be so worthwhile or so possible as anticipated. In the matter...
...until 1932. Then he tried to swing the biggest motor merger of the year- purchase of White Motor Co. (trucks). Studebaker borrowed to finance the deal, but a few White stockholders prevented Studebaker from taking title to the assets. Studebaker found itself strapped and the upshot was a "friendly" receivership last March. The organization was held together
...Washington Post as he would name his country estate or a private car. he might well choose a combination of his own first name and that of McLean, the wealthy Cincinnati family that purchased the Post 27 years ago. lost it last month to Mr. Meyer in a receivership sale. Last week he found such a man with such a name, promptly gave...
Whereas Mrs. McLean wanted to buy the Post for herself and her sons, Mrs. Abbott, childless, asked a receivership for the Defender. (Presumably, however, she hoped to get it for herself.) Whereas the Post admittedly has been losing money for years the Defender has picked up after its Depression slump and, according to its owner, is making a little money. According to the owner's wife it is worth $1,000,000. (Eugene Meyer got the Post last fortnight for only $825,000.) Fun-loving "Ned" McLean could not be bothered with business. Round-faced Publisher Abbott was kept...
...territory across the Mississippi, suggested the idea of a transcontinental system. This idea they vigorously deny, saying that their object was to obtain diversification in their investment, to obtain a road whose traffic, unlike that of the eastern roads, is not largely dependent upon coal. Today the MOP, in receivership, is the cat & dog of their holdings, while the C. & O., a coal road, which continues to pay dividends, is their paragon...