As wrecked ships show that seas are stormy, so last week two corporate ailments indicated troubled conditions in their respective industries.
Into bankruptcy went Missouri Kansas Zinc Corp., of Waco, Mo. with liabilities of $1,260,000 against assets of $750,000. Immediate cause: The filing of bankruptcy petitions by three creditors. Basic cause: Since October the price of zinc has dropped from $6.70 a ton to $5.40 a ton.
Closed (by the Pennsylvania State Secretary of Banking) was U. S. ("United Strength") Bank and Trust Co. of Philadelphia. Immediate cause: The former management had frozen...
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