Business: Bird Cages to Bankruptcy

Most piquant and persistent of business rumors during recent months has been the one that Postmaster General James Aloysius Farley would shortly resign to head a rejuvenated Fierce-Arrow Motor Corp. Basis for this talk, which Jim Farley never denied, was a Fierce-Arrow reorganization plan proposed last August and approved by stockholders in September, under which the company would raise $10,700,000 through sale of new stock and enter the medium-priced automotive field under the guidance of "a person of national importance." Last week it looked as though Jim Farley had been saved for the...

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