Word: receiverships
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...declare a moratorium. Some judges promised to comply; others claimed they were legally powerless to obey the proclamation. At Grand Meadow, Minn. a cousin of President Hoover luckily got out of debt by giving his farm to the bank. Two great railroads in the East were reported close to receivership. In a decade Federal bankruptcies had jumped from 23,000 to 65,000 per year, with a rise in creditor losses from $144,000,000 to $911,000,000. By no stretch of ordinary economics could a 70? dollar in goods or service pay off a dollar debt...
...securities "as a result of rental adjustments" at Radio City. Mr. Rockefeller is also the handle on a whip whose popper is another entertainment chain. He is reputed one of the largest stockholders in Chase National Bank. Chase National is the banking sponsor of General Theatres Equipment Corp. (in receivership), which controls Fox Film Corp. with which is affiliated Film Securities Corp. which controls Loew...
...John Barry Ryan Jr., grandson of the late Financier Thomas Fortune Ryan. He wanted its Associated Press franchise for a new English language daily which he named the Newark Free Press. After six months he abandoned both. The Free Press vanished immediately but the Freie Zeitung limped along in receivership, fell successively under control of Opera Tenor Walther Kirchhoff and the German-American Typographical Union. Last week the Zeitung hopefully called its suspension "temporary...
...after Huey Long blustered thus last week, not a big Louisiana bank but the $32,000,000 Union Indemnity group of insurance companies tumbled into receivership-biggest crash in New Orleans for nearly 50 years. They were Huey Long's pet companies. Since his ascendency he has seen to it that Union Indemnity got all state departmental insurance, that it bonded all state employes, all bridge and highway contractors. Most of the group's insurance and bonds were immediately taken over last week by the Aetna group of Hartford, including the $50,000 bonds of Colonel Luke...
...volition last week Central of Georgia Railway went into receivership. It operates 1,900 mi. of track and a steamship service between Savannah, Boston and Manhattan. The first section of the road was finished in 1833. It ran between Savannah and Macon (191 mi.) and was the longest railway in the U. S. Outstanding against it are $58,000,000 worth of bonds. At Birmingham its lines connect with those of Illinois Central which owns all of its common stock. These holdings have been pledged with the R. F. C. as collateral on a loan to Illinois Central. President Lawrence...