MID-SOUTH MEMORIES
APRIL 18
25 years ago — 1996
Businessman John Tigrett filed a $6.5 million lawsuit against Union Planters National Bank claiming that the bank improperly sold stock he put in escrow for The Pyramid. The stock was sold in December 1994 for $2.85 million by Union Planters, which acted as the escrow agent. Tigrett claims in the Circuit Court lawsuit filed late Tuesday that Union Planters made misrepresentations to Chancery Court in 1994, which resulted in the sale of 375,000 shares of General Oriental Investment Ltd. stock. Tigrett pledged the stock to fund an escrow account so that Sidney Shlenker could get a contract from the city and county to manage The Pyramid. Shlenker’s company was ousted as Pyramid manager in 1991. Shlenker’s Pyramid companies subsequently filed for federal bankruptcy protection. Last month under a consent agreement filed in bankruptcy court, the proceeds from the stock sale were divided among the bankruptcy trustee, the city and county and Tigrett.
50 years ago — 1971
The presidents of Egypt, Libya and Syria declared the formation yesterday of a “Union of Arab Republics,” binding their countries into a federal government. The new state will be established after national referendums Sept. 1 in the three countries. The leaders said it will be the nucleus for complete Arab unity and be open to other Arab countries. Egyptian President Anwar Sadat, Syrian President Hafez Assad and Libya’s head of state, Col. Muammar Kadafi read the declaration in simultaneous half-hour radio broadcasts from their capitals.
75 years ago — 1946
Easter holidays for both Memphis and Shelby County schools will begin at the close of classes today. In the past, both Thursday and Friday before Easter Sunday have been holidays for the students. Ernest C. Ball, superintendent of the city schools explained that the usual two-day Easter holiday period was reduced to one this year so students could be granted a holiday on Friday, May 17, for the Cotton Carnival. Dr. Sue Powers, county superintendent of schools also will give the students a holiday May 17 for the Cotton Carnival.
100 years ago — 1921
ROME - No new American cardinal will be created at the June consistory. This was confirmed at the Vatican today. South American diplomats are using their best efforts with the Holy See for representation of their countries in the Sacred College.