Well pleased with himself last week was William Coleman Bitting Jr., energetic head of the St. Louis security house of Bitting & Co., specialist in church bond issues. Two summers ago, acting for his bondholders, Mr. Bitting set about trying to recover as much as possible of some $3,000,000 in issues floated for and defaulted by the house's most vexatious clients, organizations of the Methodist Episcopal Church (TIME, July 30, 1934). Year ago one of these issues was up for argument in U. S. District Court in Portland, Ore. After adjourning one day,...
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