FAILURE OF HUGE COMPANY
U.S.A. RECEIVERSHIP RECORD.
By Telegraph—Press Assn.---Copyright.
Chicago, April 14.. The Middle West Utilities’ a company with £5,000,000 capital, organised by Samuel Insul, utilities’ magnate, has filed a bill of receivership in the Federal District Court. It 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 the various interlocking companies were at peak prices. The subsequent depression in securities made the payment of its obligations impossible. Mr. Insul, who was appointed one of the receivers, declared that the action would not affect the big utilities under his management.
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Taranaki Daily News, 18 April 1932, Page 4
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107FAILURE OF HUGE COMPANY Taranaki Daily News, 18 April 1932, Page 4
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