Word: trusteeship
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...offices of Judge Frank J. Coleman, reached a compromise that would end the difficulties of Fox Film Corp., largest company in the amusement field (TIME, Jan. 13, 27). In one respect this rumor was true. After two hours of deliberation a plan had been reached by which a new trusteeship would be appointed to run the company. For trustees the attorneys had proposed those two Manhattan lawyers whose eminence has in the past been sufficient to make them Presidential candidates-Charles Evans Hughes and John William Davis. A third man was to represent either Halsey, Stuart & Co. or Lehman Bros...
Shortly after noon, William Fox, coat collar turned up, snap-brim hat bent down over his face, arrived to give his verdict, to choose between the new trusteeship or receivership. So momentous did he consider the occasion he let his photo be taken, for the first time in 15 years. Looking straight ahead, he hurried into the building, entered Judge Coleman's private office. The attorneys waited outside, hoping that this day would see an end to one of the greatest tangles of recent financial history. An hour and a half later the Fox answer came. Judge Coleman, alone...
Speaking of the first trusteeship (TIME, Dec. 16), Mr. Fox wrote: "Willingly and gladly I agreed to this arrangement, feeling I would do the companies a great service and at the same time protect the interests of the stockholders...
With the U. S. Fascists disbanded, Count di Revel announced that he would resign his trusteeship of the Italian Historical Society. Harold Lord Varney, manager of the Historical Society, admitted last week that he had hired, would continue to hire professional pro-Fascist speakers...
...decline had its own reason-"friendly" receivers were appointed as the result of a petition by Bethlehem Steel Corp., said to be a $400,000 creditor. In this receivership there was not evident the aftermath of the market's break, as had been true in the Fox trusteeship (TIME, Dec. 16), nor of poor trade conditions as in the American Piano receivership (see p. 30). There was little reason to believe that Combustion's total assets, which exceeded $60,000,000 at the end of 1928, have depreciated. Causes of the company's troubles are supposed...