IN RECEIVERS' HANDS.
OIL COMPANY IN CALIFORNIA,
(Received 0.30 a.m.)
LOS ANGELES, January 16,
The Richfield Oil Company, one of the major concerns in the field, has biien placed in the hands of receivers. The firm's liabilities total £7,000,000, and the assets £24,000,000. The cause is attributed to large outstanding accounts that have not been collected. The receivership in equity will allow the company to continue operations, as it is opposed to liquidation.
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Bibliographic details
Auckland Star, Volume LXII, Issue 14, 17 January 1931, Page 9
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73IN RECEIVERS' HANDS. Auckland Star, Volume LXII, Issue 14, 17 January 1931, Page 9
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