Word: widowers
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Dates: during 1930-1939
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...debts to banks and brokerage houses of nearly $1,000,000. Named executor was the trust affiliate of Chicago's big First National Bank, of which his good friend the late Melvin Alvah ("Mel") Traylor was president. Busby's will set up a trust for his widow and two children, gave the executor full power to sell any property "upon such terms as ... may seem desirable." President Traylor, who assumed direct supervision of the estate, was thus supposedly empowered to buy for as well as sell from a big portfolio of stocks without court order...
Final accounting of the estate in September 1932 revealed that none of the legacies and only a few claims had been paid. Furthermore, the estate was hope lessly insolvent. Widow Esther C. B. Busby filed objections to the accounting, sought removal of the bank as executor and payment to her of surcharges equal to losses sustained during the bank's stewardship. She lost her suit after hearing her friend "Mel" Traylor admit he had made a bad guess by not liquidating the estate to get it out of a dangerous speculative position in a falling market (TIME...
Next day the Appellate Court handed down a unanimous decision favoring Widow Busby, reversing the inferior court decisions. Lectured Presiding Justice John J. Sullivan...
Jubilant at the turn of their fortunes after six long years were Widow Busby and her children, Son John who returned home from Princeton for the decision, and pretty Daughter Janet (Mrs. Philip Walsh) of Philadelphia. Best estimates were that Mrs. Busby would recover between $250,000 and $400.000, unless the State Supreme Court upset the verdict...
...prevent him from selling them over & over along with inferior latter-day creations. That Frederika-a perfunctory, old-fashioned operetta about the life & loves of Goethe which was first produced seven years ago-does not come up to the stratospheric standards of such earlier Lehar work as The Merry Widow (1905), is a loss not only to J. J. Shubert but to those who love Lehar music and are, like Mr. Shubert, anxious for an opportunity to hear more...