IN DIFFICULTIES.
MEAT PACKING COMPANY
NEW YORK SENSATION
BY CABLE-PRESS ASSOCIATION —on pyRIGHT NEW YORK, Aug. 26. Financial flurry over the Wilson Company’s temporary receivership has caused the company to withdraw from the live stock market, leaving the field to two packing companies of national importance. , The withdrawal is attributed to the virtual cessation of cattle sales resultmu from the announcement of the receivership, whereupon commission merchants cancelled new shipments. From production points, to-day’s trading in hogs continued, but the price sympathetically declined 50 cents.
A -Wall Street sensation was caused when the New Jersey Court appointed a temporary receiver for the Wilson Company, meat packers. A minority stockholder brought equity proceedings against the concern, alleging that the company had an outstanding indebtedness of 77,000,000 dollars and on various occasions lias been*un'able to pay interest on bonds, dividends and stock, due to the lack of ready cash.
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https://paperspast.natlib.govt.nz/newspapers/HAWST19240828.2.23
Bibliographic details
Hawera Star, Volume XLVIII, 28 August 1924, Page 5
Word Count
147IN DIFFICULTIES. Hawera Star, Volume XLVIII, 28 August 1924, Page 5
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