INSULL CRASH
REFORT OF EECEIVEES NEW YORK, Sept. 13. The receivers for Insull Utility Investments, Incorporated, an investment trust formed in the days of tlie stock market “boom’’ by Mr. Samuel Insull, reported to the Federal District Court in Chicago to-day that there was a deficit in its accounts of £45,3(X),CC0. The auditors for the receivers said they had found “inconsistency in the accounting records of the company,” and added that if the records had been consistently kept, the investment trust’s operations in the securities of the Insull public utility companies would have shown losses throughout the whole period of its existence. At one time in 1929 the stock of Insull Utility Investments, Incorporated, stood as high as £3O a share. There are still outstanding 4,240,897 shares.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17919, 25 October 1932, Page 7
Word Count
127INSULL CRASH Poverty Bay Herald, Volume LIX, Issue 17919, 25 October 1932, Page 7
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