Business & Finance: Downtown

¶ In Montreal last week the fate of Canada's venerable Price Brothers & Co., Ltd. (newsprint) was finally settled. Suffering from the gutted newsprint market, Price Brothers defaulted on its bonds more than a year ago. Britain's potent publisher, Canadian-born Lord Beaverbrook, whose papers used Price newsprint and whose brother Allan Anderson Aitken was a director, tried his hand at reorganization but was blocked by the bondholders. Last April Price slipped into receivership. Other interests including Duke-Price Power (Aluminum Co. of America affiliate) wangled for control. Last week the bondholders committee sold Price Brothers to 55-year-old Bowater Paper Mills of...

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