AMERICAN DRUG FIRM FAILS
Many Irregularities
Disclosed
(Received December 9, 8.30 p.m.)
NEW YORK, December 8.
The bankruptcy of McKesson and Robbins, one of the largest drug and chemical firms of America, is expected to have an adverse effect on the business world. The market value of tlie stocks of the firm, whose assets were alleged to be 87,000,000 dollars, has dropped 30,000,000 dollars in the course of a few days on the Stock Exchange. A stock-holder’s suit, alleging the fraudulent listing of assets amounting to 10,000,000 dollars precipitated an investigation disclosing many irregularities, including a warehouse allegedly maintained by the company in Canada, the only mailing address being New York.
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Dominion, Volume 32, Issue 66, 10 December 1938, Page 11
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111AMERICAN DRUG FIRM FAILS Dominion, Volume 32, Issue 66, 10 December 1938, Page 11
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