IN RECEIVERSHIP
HUGE AMERICAN CONCERN CHICAGO, April 14. (Received April 15, at 10 p.m.) 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.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ODT19320416.2.74
Bibliographic details
Otago Daily Times, Issue 21621, 16 April 1932, Page 14
Word Count
113IN RECEIVERSHIP Otago Daily Times, Issue 21621, 16 April 1932, Page 14
Using This Item
Allied Press Ltd is the copyright owner for the Otago Daily Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.