Word: solvents
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Dates: during 1930-1939
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Story started as the private venture of two U. S. writers who were offended by the fact that no solvent publisher ran a magazine exclusively for "the best short stories." Bearded Whit Burnett and his pleasant, bespectacled wife, Martha Foley, were correspondents for the New York Sun in Vienna when they ran off 75 copies of Story's first issue on a rented mimeograph machine. The contents were by themselves and friends, including Kay Boyle and Oliver Gossman. This smudged, amateur attempt set off a literary explosion, is now worth $500 per copy as a curiosity. When they lost...
Shanferoke contended that New Rochelle Coal & Lumber is solvent and therefore had no right to apply for reorganization under Section 77b. If solvent corporations could seek reorganization under the Bankruptcy Law, said the plaintiff, creditors would be deprived of their property (i. e. claims) in violation of the ''due process" clause of the Fifth Amendment. With this argument the Circuit Court did not agree. Ruling that no violation of the Fifth Amendment was involved, it declared, in effect, that a solvent corporation may apply for permission to reorganize under Section 77b. Last week Shanferoke Coal had 14 days left...
Leather. Meanwhile most solvent corporations will continue to thresh out recapitalization plans with security holders and creditors outside the courts. Two notable companies which have completed this process are Wilson & Co. and Armour & Co. One still in the throes of reorganization without recourse to Section 77b last week was American Hide & Leather...
...Solvent Illinois Central...
...reached, Mr. Mackay was living in the superintendent's cottage on his Long Island estate, having closed his big house and stopped the salaries of his hundreds of gardeners, grooms and domestics. To-day with non-dividend-paying I. T. & T. selling at $9 Mr. Mackay is certainly solvent but he no longer plays godfather to anything from the New York Philharmonic to Nevada University's Mackay School of Mines...