Word: receivershipped
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...another. At the same time Tasco's hard-pressed farmer customers, equally strapped for cash, began to postpone building plans and cancel orders for hog sheds. With debts of $8.5 million and assets of only $1.2 million, the company filed for bankruptcy last spring and is now in receivership...
...much immediate help to the thrift institutions in any case. Wall Street analysts estimate that at least 20% of the nation's S and Ls are already losing money in the current squeeze. Last week Cleveland's Washington Federal Savings and Loan was forced into receivership. The bulk of its assets were acquired by another Ohio thrift institution after Washington Federal was unable to pay for Government securities it had ordered...
...million in loans, guaranteed by the city, to give Chicago's board time to come up with a long-term solution to the school system's financial woes-which will almost certainly require tax increases. In effect, Mayor Byrne explained, the school board was in receivership and the city was the credit holder...
...kind of unusual demand. Every year at harvest time, there is a severe shortage of hopper cars and boxcars for carrying grain. Meanwhile, many of the railroads that serve the nation's agricultural heartland are failing. The Rock Island, for example, is bankrupt and has been in receivership for the past four years. The strike resulted from its inability to pay clerks and transportation workers $9 million in retroactive...
...state and federal, can be found ordering government boards and agencies to obey the law. When the boards balk, as they often do, judges end up running school boards, welfare agencies, mental hospitals and prisons. Just last month, for instance, a Boston judge placed 67 public housing projects into receivership under court control because they had been mismanaged by the Boston housing authority. Such decisions often require judges to rule on specific questions like garbage removal from tenements, proper bus routes for schoolchildren and minimum hot water temperatures for prison inmates...