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Sale of the assets of Rome
Company Inc., to the Rome Products Association for $ 725,000, was completed on October 4, 1935. Rome and Boston Real Estate was not included in the purchase. Rome Company Inc., had book assets of $ 2,500,000 and liabilities of $ 1,991,705.
34:. The corporation's fate illustrates the bleak economic climate in the United States during the 1930s. The retailer's failure is significant in the history of Rome. It was one of several of the town's establishments which closed in 1935, a consequence of the ongoing
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rejected a plan for reorganization offered by Rome
Company, Inc., under Section 77B of the Bankruptcy Act of 1898. The furniture dealer had net assets of $ 793,000 at this time.
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A court date was set for
October 3, 1935 for the Rome Products Association to purchase assets for $ 725,000, not including cash, receivables, securities, and real estate.
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To avoid bankruptcy Rome
Brewery, Inc., filed a petition of reorganization under Section 77B of the
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which became bankrupt in
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106:, New York Times, October 5, 1935, pg. 28.
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16:Furniture business in New York, US
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22:was a furniture business in
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85:Furniture Concern Fails
43:Bankruptcy Act of 1898
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36:deflation
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