Deals & Developments

Extensions. No moneylenders came to terms with Samuel Insull last week. But Electric Bond & Share was happy to announce that its subsidiaries, American & Foreign Power and United Gas Corp., had been given a one-year extension on bank loans of $50,000,000 and $21,000,000, respectively.

Bankrupt Tiffany. When U. S. homes were filled with Victorian furniture and knickknacks crowded every mantel, sure to be in evidence was a vase or two of "Tiffany Favrile Glass," heavy and iridescent. This glass was the invention of Louis Comfort Tiffany, son of the late Charles Lewis Tiffany who founded Manhattan's famed Tiffany & Co., jewelers, silversmiths & stationers. Although Glassman Tiffany is a vice president, assistant treasurer and director of the jewel firm, painting and glasswork have been his chief interests.

Last week Louis Comfort Tiffany, 84 and feeble, lay ill abed, unwilling to discuss the voluntary bankruptcy of his glass company. It failed with listed assets of $315,000 mostly in receivables and inventory, liabilities of $481,000. Chief creditors are Mr. Tiffany himself ($223,000) and Bankers Trust Co. ($125,000).

Neighborly Suit. Strong old First National Bank did not crack and topple last autumn but the 54-year-old First National Bank building at Wall Street & Broadway did. Immediate cause was the excavating alongside First National for an addition to Bankers Trust Co. (TIME Oct. 19, 1930). First National promptly moved to temporary quarters at No. 52 Wall, awaiting completion of a new $2,000,000, 20-story building on the old site.

Last week came a repercussion of the toppling. First National Bank brought suit against neighborly Bankers Trust for $881,500 damages.

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