Business & Finance: Deals & Developments

Receivership for G. T. E. With International Projector Corp. and other cinema equipment companies as a nucleus. General Theatres Equipment, Inc. was formed in 1929 by Harley Lyman Clarke and associates. In 1930 G. T. E. startled Wall Street by obtaining control of Fox Film Corp. Mr. Clarke, who had previously regarded cinema business as a hobby, became a big figure in the industry. To finance itself. G. T. E. sold $30,000,000 worth of debentures in April 1930. Last week, with cash low and $22,000,000 in notes nearing maturity, G. T. E. could see...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!