IN RECEIVER’S HANDS.
AMERICAN OIL COMPANY. r HUGE SUM INVOLVED. ACCOUNTS COLLECTING DIFFICULT United Pre<S3 Assn. — Elec. Tel. Copyright. ‘ (Received Jan. 17, 8.50 a.m.) LOS ANGELES, Jan. 16. The Richfield Oil Company, one of the major concerns in the field, has been placed in the Receiver’s hands. Its liabilities are £7,000,000, and assets £24,000,000. The cause of the position is the large outstanding noncollectable accounts. The receivership in equity will allow the company to continue_ operations, as it is opposed to liquidation.
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Bibliographic details
Waikato Times, Volume 109, Issue 18229, 17 January 1931, Page 5
Word Count
82IN RECEIVER’S HANDS. Waikato Times, Volume 109, Issue 18229, 17 January 1931, Page 5
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