Word: solvents
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...Kuhn, Loeb may pay some of the legal and accounting fees involved in preparing an issue or may have spent months advising the company on a comprehensive financial program of which the bonds are only a part. But in the present money market it is clearly cheaper for super-solvent corporations to use a selling agent on commission...
...receivership for twelve years, owes accumulated interest equal to one-fourth of its assets, which are largely nominal, and is still indebted to the Government for loans from the Wartime Director General of Railroads. In desperation RF Chairman Jesse Jones proposed to partition M. & St. L. among eight more solvent neighbors (TIME, Oct. 29). Last week after a year of dickering, the eight systems petitioned the Interstate Commerce for permission to start carving...
...cost fuel for stationary engines, switching locomotives, tractors, trucks and buses. These two, mixed with oxygen, are cheaper than acetylene as a fuel for welding torches. Since they vaporize easily, they are good refrigerants. Some consumers use the same gallon of propane first as a chemical solvent, next as a refrigerant, finally burn it as a gas fuel...
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...