TANGLED FINANCE
BIG MEAT PACKING FIRM
SHAREHOLDER STARTS PRO- :"'-":. ■".' CEEDINGS.\ ■ - : ' ■ ' (DNITED PRESS ASSOOIATION,—COPYRIGHT.) (ABSTRACUN-NEWZEALaW. CABLE ASSOCIATION.) >! NEW: YORK, 25th August. A Wall street sensation was caused when a New Jersey Court appointed a temporary receiver for "Wilson and -Company, meat packers. A minority stockholder 'brought equity proceedings against that '"concern alleging that the company has outstanding indebtedness amounting to 77,000.000 dollars,- and on, various occasions, has been'unable to pay interest on bonds and dividends on stocks,-owing to.lack of ready cash. _'■ Mr. Thomas the y: company's president, announced that he will stubbornly oppose the receivership, declaring that ,the company's assets amount to .121,000,000 dollars.
"The company's affairs are actually extremely involved, and financial • reorganisation has been several times attempted, principally by the insurance of further ■ capital stock. - - . '.
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Bibliographic details
Evening Post, Volume CVIII, Issue 50, 27 August 1924, Page 5
Word Count
126TANGLED FINANCE Evening Post, Volume CVIII, Issue 50, 27 August 1924, Page 5
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