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19380212_2_liquidation - Reading Iron Company, and verified the fact...
Reading Iron Company, and verified the fact that the Reading Iron Com pany was to be liquidated. Baker, chairman of the Chamber committee who with Sheidy, Davis, Young and Brooke called upon Taggert, made the following statement statement on behalf of his committee: "Since being given the . responsibility responsibility of looking into the affairs of the Reading Iron Company, the committee has definitely ascertained from Mr. R. E. Taggert, president of the Philadelphia Sc Reading Coal Ac - Iron Company and chairman of the board of the Reading Iron Company, that at the request of the bondholders' committee, the Reading Iron Company is to be immediately liquidated. - "We have been advised that the Philadelphia & Reading Coal & Iron Company proposes immediately to sell the Reading Iron Company's stock of finished products and ma terials in process to this company's chief competitor. If this inventory is sold in this manner, any new company will not be able to proceed with the manufacture of similar products without being placed under a terrific handicap, because the competitor will have the customers.

Clipped from Reading Times12 Feb 1938, SatPage 2

Reading Times (Reading, Pennsylvania)12 Feb 1938, SatPage 2
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  • 19380212_2_liquidation

    email209 – 30 Dec 2013

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