Beautifully engraved uncancelled certificate from the Western Preferred Corporation issued in 1983. This historic document was printed by Security-Columbian Banknote Company and has an
ornate border around it with. This item has the printed signatures of the Company's President and Secretary and is over 23 years old.
News Story Published: April 3, 1984
The Western Preferred Corporation said that it is in default on an $82.5 million bank loan and that its 1983 financial statement has been qualified by its accountants, Peat Marwick.
Western, an insurance holding company, said it is also the guarantor for a $12.5 million note payable to the same five- member bank group as the loan. It said its officers are meeting with the bank group and had formally requested waivers on the defaults. In over-the-counter trading today, Western was the second-biggest-percentage loser, plunging $20, to $54 bid.
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