Business & Finance: Troubles

Ill abed last week lay plump and matronly Widow Alice Foote MacDougall who, at 65, owns eight restaurants (seven in Manhattan, one in Rye, N. Y.), sells her teas, coffees, cocoas, jellies, relishes, pickles and preserves in some 300 stores. Two months ago she made plans to offer stock in her enterprise, to expand (TIME, March 7). Apparently little stock was sold for last week Mrs. MacDougall heard that "friendly" receiverships had been granted for four of the affiliated restaurant companies of Alice Foote MacDougall, Inc., her holding company. Blamed in the petition were the Depression and "a change in the...

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!