TO CLEAR THE AIR.
RECORD RECEIVERSHIP.
NEW YORK, April 20.
The world's largest receivership is announced, and Wall Street breathes easier. The huge Middle-West Utilities Corporation, controlling numerous public services in 30 middle States, and capitalised at over £500,000,000, with 100,000 shareholders, has gone into a friendly receivership, on the petition of a printing house creditor, whose unpaid bill is only £1600. The corporation was one of Sam Insull's great group of traction and utility companies, and the Court has named Insull himself as one of the three receivers. Insull has announced that allied companies are perfectly sound.
Leading brokers regarded the receivership as clearing the air, and striking gains have been registered on the stock markets, practically the entire New York list advancing solidly.
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Bibliographic details
Auckland Star, Volume LXIII, Issue 98, 27 April 1932, Page 7
Word Count
125TO CLEAR THE AIR. Auckland Star, Volume LXIII, Issue 98, 27 April 1932, Page 7
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