Owl Drug back in original hands 1 1933

wehopewiki Member Photo

Clipped by wehopewiki

Owl Drug back in original hands 1 1933 - his who the t j Conyon. and Control of Owl Drug...
his who the t j Conyon. and Control of Owl Drug Co. Back in Hands of Former Owners, Inquirers Learn Russian Craft, with 14 on Board, Plunges to Earth In Accident Today Fuselage Is Lacking from Huge Ship Which Carried Six Big Motors MOSCOW, Nov. 22,--iVP)--.A dispatch from Kharkov said the newly-constructed newly-constructed airplane K-7, said to be the largest airplane for overland f l y i n g in the world, crashed there yesterday k i l l i n g fourteen persons. FEW DETAILS The dead were reported to include the chief pilot and mechanic and several several Kharkov aviation officials, but beyond these bare facts no details were given out. A Soviet government commission was appointed immediately to investigate investigate the cause of the crash and establish responsibility for it. Tills is the second major a v i a t i o n disaster in the Soviet union in the last few months. September 5 eight executives of the aviation industry were killed in a plane crash at Podolsk. Among the i dead were three of Russia's leading j aviation figures. NO ITSI:I,.U;I: The K-7 was a six-motored monoplane monoplane without the orthodox fuselage. Instead, all accommodations for luggage and fuel space as well as controls controls were in the wings. Only a slight framework of steel composed the structure on which the rudder was anchored. The great airplane was designed to carry 128 persor.s including its crew. It was designed with sleeping accommodations accommodations for sixty-four persons, divided divided into sixteen cabins containing four berths each. During day flights the cabins were convertible Into eight seating compartments on the order of the modern European sleeping car. These sixteen cabins looked out on two corridors running lengthwise lengthwise through the wings which also housed a powerful radio plant. PRIDi: OF FLEET The mammoth plane was built In seven months entirely with Russian materials and by Russian labor, at the Kharkov aviation plant. It was commissioned only last k on Nov TMi'»er 14, after under- GUARDS ORDERED IN TREASURY RULE TO SHOWRESPECT W A S H I N G T O N . Nov. 'I'i.--(/P-- On (lie order of A c t i n g Secretary Secretary Henry Morgenthuu, Jr., guards at the treasury were notified notified today t h a t t h e y must "show respect for official superiors by s t a n d i n g at a t t e n t i o n when approached approached cir b e i n g addressed." Despite previous orders t h a t no worker at the treasury should talk w i t l i reporters, it was Irarn- ert t h e r e t h i s a f t e r n o o n t h a t Mr. M o r g r n t h a i i today called In K. A. lilrgteld--chief clerk--and complained about the treasury guards' behavior. Although. Hergfcld sought lo keep the secretary's action from becoming public I n f o r m a t i o n , the te\t i:f his subsequent order later became available. It follows: "All members of the treasury guard forre are cautioned to obey the f o l l o w i n g orders at all times w h e n on d u l y : " ( 1 ) -- H e f r a l n f r o m reading newspaper or hooks while on assignment. assignment. "('-)--Keep clotlie* clean, pressed and coat b u t t o n e d . "(3)--Keep cap clean and on straight. " ( I ) -- K e p p shoes slilncd. "(·")--Refrain from s m o k i n g nml unnecessary conversation while on assignment. "((i)--sliow respect for official s u p e r i o r s by s t a n d i n g at atten- t i o n w h e n approached or Ijclng addressed. 1 ' George K. Edler of Reno Stand Tells of Handling Of Receivership Yesterday's Testimony Is Devoted to Proceedings Of Federal Court fired of Wynekoop a LOS ANGELES. Nov. 22.--i.pi--Doz- ens of families l i v i n g in Blanchard canyon fled from t h e i r cabin homes today as a forest fire which menaced menaced fashionable estates In La Ci'es- centa and La Canada areas last night spread to the north and west at the head of Dunsmcre canyon. ! R E S I D E N T S W A R N E D j Messengers were sent into Blanch- ! ard canyon by forestry officials to vr.irn residents to leave immediately. Many of the two h u n d r e d persons living in about f i f t y cabins hurried SAN FRANCISCO. Nov. 22. -- tff\ -Bankruptcy -Bankruptcy proceedings for the Owl Drug Company, the senatorial committee committee Investigating bankruptcies learned today, not only rid the company company of unwanted realty leases but eliminated a fixed charge of $480,000 dividends on 86,000.000 worth of eight per cent preferred stock. EDLER OX STAND Since all assets were taken over for benefit 01' creditors, it was pointed out. the interests of all stockholders were wiped out clean. George K. Ecilcr of Reno, certified public accountant who is trustee for the b a n k r u p t company, was witness at this morning's session. Edler told how the assets of. the company, declared at 58,704.651.89 when a voluntary petition in bankruptcy bankruptcy was filed in federal court in Carson City, Nev -- the company was incorporated in Nevada, although it had no stores there--had been soil within the last few weeks for $1.550,i $1.550,i 000. "Who bought the assets?" Edler was asked. N A M E f l I . V N ( i i : n "The Union Holding Company," was the reply. "It since has changed its name to the Owl Drug Co., and is operating the stores now," "Co.," repeated Senator Felix Hebert; of Rhode Island. "You mean the abbreviation abbreviation for 'Company.' Was that to take advantage of the good-will?" "Of any good-will there was," agreed Edler, "And also the signs, and signs, and things like that." "Are the officers and managing directors directors of Owl Drug Co. the same as those for the Owl Drug Company?" asked Senator Warren Austin of Vermont. Vermont. "They are?" "You found a Mr. Berg in charge of the business when you took it over as trustee, didn't you?" asked Wil- Wynekoop's. A of no going a scries of test flights w h l c h l f r o m t h e l r homcs - taking treasured Joseph Stalin, head of the communist ! po '- se ' io " s wlth tnem ' party, and other leading figures in figures the Soviet union acclaimed as a new victory for the Soviet aviation industry. industry. They called the plane the pride o! the Soviet air fleet. The designer was Constantino A. Defying efforts of nearly one thousand thousand fire fighters, the blaze swept out of control toward the head of Blanchard canyon shortly before noon a f t e r it had been reported almost liam H. Keblctt of Los Angeles, counsel counsel for the committee. "I did." HAS ASSISTANT "And he remained with you as your assistant while you were operating the business." "He did. I had to have someone who was f a m i l i a r with the drug , under control, and caused watershed j ness. I knew n o t h i n g about i damage approaching one million d o l - 1 know much about it now. 1 Kalinin, one of the most prominent! I lars Soviet air technicians but no relative I Desperate efforts were of the Kalinin. Soviet president, Michael i keep the fire from surmounting the "And Mr. Berg now is in charge of ·de to j the Owl Drug Co.?" "Yes." "Then, Mr. Edler," interposed Senator Senator Hebert, "what it amounts to is this: The owners of the Owl Drug Company went through bankruptcy, bought back the property at a bank- TOPEKA, Kas., Nov. 22.--Mj--A bill to legalize 3.2 beer in Kansas was rejected rejected by the house today, sixty-three to fifty-eight. Several of those voting against the measure expressed opposition to legalizing legalizing 3.2 beer which they asserted was intoxicating, while others voting against it declared legalization of 3.2 beer was a useless move as stronger beer would be available now that national prohibition has been repealed. repealed. ridge on the west side of Dunsmere canyon and menacing Tujunga and adjacent populated areas. NO CABINS IH'RNED Before noon no lives had been immediately immediately endangered and no reports rupt sale, and now have their 'busi- of cabin burnings had been con- ! ness back, but divested of onerous firmed. j leases and divested of the burden of The fire is some twenty miles north $6,000,000 in preferred stock?" of Los Angeles in the San Gabriel] Edler hesitated, then answered: "I mountain region. guess that's about the story." Five hundred workers from civilian j XORCROSS CALLED i fovcstr y camps toclay j o i n e d sevcral i Toda y' s testimony was a definite hundl . e(1 fll . e nghtcrs who had been ( departure from that of yesterday, on duty since the blaze irted last i when the questions brought up dealt night in Pickcns canyon from a j largely with the handlmf; of the source yet undetermined. Some r e - j bankruptcy proceedings by t h ports indicating the blaze may have of Federal Judge Frank V.. .S'orcross if- j of Nevada, who recently \.t.:\ nominated nominated for the circuit court bench but Stamps Sold was of reported been error in 1919, was sold in Plant Reopens SOUTH ST. PAUL, Minn., Nov. 22. j 312,100--a new high in the auction --f/Pj--The Armour Company Pack-! sale of the collection of the late ing plant, closed since Friday due to ' Arhur Hind of Utica, N. Y. a strike, resumed operations today at j The Scott Stamp and Coin Corn- about half its usual volume. ' pany of New York was the purchaser. who has not qualified and whose At U',rth PW/»*»! namc has not ' et beeu Passed upon j\i nign /-rice 1)y the Unlted s ,., tes senat ^ Judge Norcross himself testified for NEW YORK, Nov. 22.--«P)--A block j a tlme yesterday, and was called bacfc of four air mail stamps in which the : to the stand this afternoon, airplane was inverted by a printer's I senators Hebert and Austin were joined at the hearing today by Senator Senator Frederick Van Nuys of Indiana, who presided. At the opening of Edler's testimony today he told of how he was sum- today for Elephants Held by Banker Forced to Earn Their Keep moned the Bank of Nevada Sav- EUREKA. Kan., Nov. 21. -- M) -There -There are 3650 pounds of elephants hereabouts wRo are self-supporting. They have to be. Ronald Plnney, Emporla and Topeka Topeka broker, purchased them from the 101 Ranch Wild West show he- fore he was jailed in connection with the Kansas million dollar bogus bond- scandal. Thsy are quartered on Pin-.. ney's ranch. The Jive lumbering anl-' mals consume each week five hundred hundred pounds of oats, one hundred pounds of bran, fifty pounds of salt and. 120 bales of hay. To meet the expense, Edgar Allen, trainer, has exhibited exhibited the elephants at fair grounds, charged for rides for children and sold peanuts to admirers of the quintet. He now is grooming them for exhibitions exhibitions in Shrine circuses at Cleveland, Detroit, Milwaukee and St. Paul. ings Trust Co. to act as special trust officer in charge of the Owl properties after the bank had been. named receiver in Judge Norcross' court, October 10, 1932. CALLED UNCSUAL PROCEDURE Previous testimony had been that the bank continued as receiver to November November 21, although it failed to open its doors from November 1, was contradicted contradicted by Edict's explanation that the bank had been closed by a banking banking holiday ordered by the governor of Nevada, and was not taken over the state bank examiner until December December 12. Asked if it were not unusual pro- (OMJ, X»d o; sura)

Clipped from Reno Gazette22 Nov 1933, WedPage 1

Reno Gazette (Reno, Nevada)22 Nov 1933, WedPage 1
wehopewiki Member Photo
  • Owl Drug back in original hands 1 1933

    wehopewiki – 10 Aug 2014

Want to comment on this Clipping? Sign up for a free account, or sign in