RECEIVERS IN
BIG AMERICAN COMPANY PAYMENT OF OBLIGATIONS IMPOSSIBLE. Press Association—By Telegraph—Copyrights CHICAGO, April 14. The Middle West Utilities Company, which had a holding of 2,500,000,000 dollars and was organised by Samuel Insul, the utilities magnate, filed a bill of receivership in the Federal District Court. This is the largest corporation to go into receivership in the history of the United States. It was organised several years ago, when the stocks of various interlocking companies were at peak prices, and the subsequent depression of securities made the payment of obligations impossible. Mr Insul, who has been appointed one of the receivers, declared that the action would not affect the big utilities under his management.
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Evening Star, Issue 21079, 16 April 1932, Page 13
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114RECEIVERS IN Evening Star, Issue 21079, 16 April 1932, Page 13
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