Interstate Department Stores, Inc. Deal - Lehman Brothers Collection
Interstate Department Stores, Inc.
|Company Deal||common stock offering to stockholders|
|Transaction Type||Common Stock|
|Deal Description||Interstate Department Stores, Inc., expected to lend all or a part of the net proceeds from this transaction to Interstate Stores Payment Corporation, a subsidiary, to enable such subsidiary to discharge all or part of the bank loans contracted by it since January 31, 1937. Such loans were incurred to permit Interstate Stores Payment Corporation to discount accounts payable of other subsidiaries of the corporation and to enable them to carry additional current assets necessitated by the increase in the volume of business and increased cost of merchandise.|
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