Business & Finance: Deals & Developments

Insull Lop. Into bankruptcy last week went National Public Service Corp., intermediate holding company for the "Insull" properties in the East, chief subsidiary of National Electric Power. In receivership a fortnight ago, the company sought to have its five Manhattan banks (Chase National Bank, Central Hanover Bank, Manufacturers Trust, New York Trust, Chemical Bank) reach a standstill agreement on their loans of $20,000,000. When the receivers failed to accomplish this they resigned in a huff. The action means that the bulk of the Eastern part of the great utility system has been lopped...

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