Business & Finance: Extended Tycoon

Last week in Tampa, Fla. Barron Gift Collier,* famed organizer of car card advertising, virtually declared himself bankrupt. He did not use the exact word. What he said was that he could not pay all his debts immediately and wanted a moratorium. He thus became first U. S. tycoon to take advantage of the new bankruptcy law which President Hoover signed the day before he left office.

Barron Collier's procedure under the law was to submit a list of his liabilities and his assets to a Federal judge and ask for a meeting with...

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