Greenfield into Candy

Short, bald-domed Albert Monroe Greenfield, 52, is Philadelphia's real-estate broker extraordinary. His personal fortune in 1929 was $15,000,000. The following year, along with Philadelphia banks and real estate, he tumbled deep into debt, has continued in this condition ever since. Still in business, he helps run the city Democratic machine, heads charities, is a director of the highly respectable Board of City Trusts. Among other distinctions, he is one of Jewry's few Papal Knights.

This spring young, ardently Republican State Secretary of Banking John C. Bell Jr., irked by Greenfield's debt-ridden calm, decided to turn on the heat. To collect on old notes due two closed banks, he sued for $2,165,688, refused to settle on Greenfield's termc (5% cash or 100% in 20 years). Fortnight ago, Greenfield went into Federal Court, filed under the Chandler (Bankruptcy) Act.

In Manhattan, however, Albert Greenfield was still regarded as a first-rate real-estate man. Last week Loft Candy Corp., in which a Greenfield-headed syndicate has acquired 32% of the stock, elected him chairman of the board. With his associate, Candy-Man Jacob Beresin, as president, Real-Estate Man Greenfield was expected to solve the real-estate problem under the Loft chain of 161 candy stores, put the company (now divorced from Pepsi-Cola-rich Loft, Inc.) back on its feet. Sighed Greenfield softly, "I would have preferred to serve Loft's in some capacity not involving a title, but they wanted to show they still had confidence in me."

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