THREE INSOLVENCIES
BIG AMERICAN CONCERNS
ALL WITHIN.A WEEK
(United Press Association.)
(By Electric Telegraph—Copyright,) NEW YORK, Deceinber 19. (Received Dec. 20, at 8 p.m.) With the announcement to-day . of the bankruptcy of the International Combustion Engineering Corporation, with a capital of 43,000,000 dollars, the third largest insolvency of the week occurred. The American Pianoforte Company, one of the largest producers of instruments in America, with a capital in excess of 3,000,000 dollars and the Sonora Corporation, a noted' 'producer .of phonographic devices, were the other concerns involved.
The Combustion Corporation is reported to be solvent but unable to obtain the necessary capital. The concern entered a receivership in equity following an application which was filed by the Bethlehem Steel Company.
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Bibliographic details
Otago Daily Times, Issue 20906, 21 December 1929, Page 14
Word Count
120THREE INSOLVENCIES Otago Daily Times, Issue 20906, 21 December 1929, Page 14
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