Donahoe's Inc. - 1968-70 Stock Certificate - Popular Grocery Business around Pittsburgh, Pennsylvania

Stock printed by Republic Bank Note Co., Pittsburgh, Pa. Was a Large and popular grocery business in and about Pittsburgh, Pennsylvania. March 23, 1936, Donahoe's, Incorporated, conducting a chain grocery business in and about Pittsburgh, Pa., filed its petition for reorganization in this court under section 77B of the Bankruptcy Act (as amended, 11 U.S.C.A. § 207). May 31, 1936, Geo. K. Stevenson Company, a wholly owned subsidiary of the debtor, filed in this proceeding its petition for reorganization under that act. The debtors were continued in possession. Donahoe's, Incorporated, had been the victim of a flood and of the depression. In the period from 1924 to 1928, it incurred great financial burdens under an older management incident to real estate investments.

During the depression there was an enormous shrinkage in real estate values, and debtors, like many other companies, found themselves saddled with an intolerable load. On top of the depression a flood came and washed away all hope of normal rehabilitation. A plan of reorganization dated November 30, 1936, and later amended, was proposed by the debtors and in due course a hearing was held thereon. Two-thirds in amount of each class of creditors affected by the plan accepted it. The holders of a majority of each class of stock also accepted it. No other plan was filed or submitted. May 7, 1937, at the argument upon the merits of the plan, objections on the part of certain stockholders calling themselves "Donahoe's, Inc., Preferred and Class A Stockholders Protective Association" were presented. Read more at https://casetext.com/case/in-re-donahoes-inc