Rutley's Inc.

Rutley's, Inc. was a 1930s restaurant located at 1440 Broadway. It was a casualty of the Great Depression, remaining solvent but coming up short of its existing obligations in February 1932. A receiver, Richard M. Page, was appointed by New York District Court judge Goddard, under $10,000 bond, on February 15, 1932.[1]

In April 1925, the Broadway Fortieth Street Corporation leased an entire store extending forty-eight feet on Broadway, from 40th Street (Manhattan) to 48th Street (Manhattan), to Rutley's, Inc., for a term of twenty-one years. This included 10,800 square feet (1,000 m2) of the basement.[2]

In February 1932, Rutley's, Inc., was named by Ernest A. Smith, president of the plaintiff corporation, in a bankruptcy suit. Smith's business loaned the restaurant $370,414.67 between April 29 and December 4, 1925. Rutley's, Inc., was unable to pay back the sum because its income was insufficient, and due to additional indebtedness.[3]

References

  1. ↑ Business Records, New York Times, February 16, 1932, pg. 38.
  2. ↑ "Commercial Leases Show Slight Slump", New York Times, April 25, 1925, pg. 30.
  3. ↑ Receiver named for cafe, New York Times, February 16, 1932, pg. 8.