Last week Percy Gilkcs, longtime Chief Clerk of Brooklyn's Federal Court, whistled softly as he scanned a petition in bankruptcy. Against $100 in assets he saw arrayed $44,462,913 in liabilities. In all his 25 years of service Clerk Gilkes could not recall such enormous liabilities in a bankruptcy case. He looked at the signature of the petitioner—Jeremiah K. Donovan—and scratched his head in perplexity.
Jeremiah K. Donovan is a smallish man who brushes up his hair into an impressive pompadour and who wears ice-cream suits and gay bow ties in the summertime. He works as a clerk in a tiny office...
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