The Press: Optimism at Curtis

The 300 stockholders who assembled quietly in a building on Philadelphia's historic Independence Square had no hesitancy in giving the Curtis Publishing Co. exactly what it wanted. By an overwhelming margin, they approved a management proposal for refinancing payment of some $30.5 million in mostly overdue debts.

Behind the proposal stood six banks —two of them already Curtis creditors —willing to underwrite this obligation and to give the company another five to seven years to pay it off. The banks were also ready to advance an additional $4,500,000 in fresh working capital. From a quarter never known for faith in bad financial...

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