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How big a pie is it?

How big are the current assets of Metropolitan?

We don't know, but we suspect they are very big.

As you probably recall, the extensive North Little Rock real estate fortune was originally founded by Justin Matthews in 1925 and later divided among his heirs into Metropolitan Trust and General Properties/Crestwood Co.

Originally known as The Matthews Co., Crestwood was created in 1955 when John Matthews, a son of the company's founder, took his one-fourth share and went out on his own.

Last fall, Crestwood entered Chapter 11 bankruptcy proceedings under pressure from real estate development loans. At that time the company estimated it had more than $128 million in assets.

Is Metropolitan still three times as big as General Properties?

If so, a little mathematics places the company's value at nearly $400 million.

We doubt it's that large, but we wish we could take a close look at the books to find out.
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Title Annotation:assets of the Metropolitan Trust Co.
Publication:Arkansas Business
Article Type:Brief Article
Date:Jan 6, 1992
Previous Article:Matthews fortune splits.
Next Article:C.R.A.T.E.S. Inc.

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