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.
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