COMPANY FAILURE.
LARGE AMERICAN CONCERN. RECEIVERS APPOINTED. (Received April 15, 5.5 p.m.) CHICAGO, April 14. Tlie Middle West Utilities Company, a holding company organised by Mr. Samuel Insull, a utilities magnate,, lias filed a bill of receivership in the Federal District Court. This is the largest corporation to go to a receivership in the history of the United States. It was organised several years ago when the stocks of the various interlocking companies were at, peak prices. Subsequent depression of the securities have made the payment of the company's obligations impossible. Mr. Insull, who has been appointed one of. the re reivers, says the action will not affect the big utilities under his management.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21159, 16 April 1932, Page 5
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114COMPANY FAILURE. New Zealand Herald, Volume LXIX, Issue 21159, 16 April 1932, Page 5
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