Word: bemberger
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North American Rayon Corp., seventh largest U.S. rayon yarn maker, and its sister company American Bemberg Corp., have had a troubled history. In 1940 the U.S. Government, suspecting that their parent company, the Dutch Algemeene Kunstzijde Unie, N.V. ("AKU"), was partly German-controlled, froze the properties, but allowed the U.S. directors to run the companies...
...seized the two AKU subsidiaries. The Dutch protested, but when OAP proved that one-third of AKU's stock had been German-owned, the Dutch waived rights to one-third of AKU's holdings. This gave the Office of Alien Property controlling interest in North American and Bemberg, which are jointly managed. (The Dutch got AKU's other U.S. subsidiary, American Enka Corp.) No sooner had the Government taken over when a squabble broke out between the board of directors and OAP Boss David L. Bazelon, a New Dealing lawyer who had given...
Even if the Bembergs should lose all their Argentine holdings, they would not starve. The family has enormous investments abroad. In the U.S. the Bemberg holdings include a sizable share in the Liebmann Breweries of Brooklyn (Rheingold beer). According to one of its responsible officers, American Bemberg Corp. (rayon) has no connection with the Argentine Bembergs...
...seizure shook Argentina, for the Bembergs are the richest family in the country, one of the richest in the world. Otto Bemberg came from Germany in 1868. His son, Otto Sebastian, made big money in brewing, banking and real estate. Retiring to Paris, he directed his ever-growing Argentine affairs from an inconspicuous office on Boulevard St. Germain. When he died in Monte Carlo at 75, he left four sons to increase the family fortune. Two of them, Otto and Federico, stuck to the job. Argentine society boasts of its rock-bound exclusiveness, but the Bembergs married aristocratically. Accepted...
With beer as the original source of its fortune, the House of Bemberg acquired a near-monopoly of brewing in Argentina, then branched into public utilities, cotton, dairy products, wool and yerba mate (Paraguay tea). Sum total of the family fortune was anyone's guess, for the Bembergs kept their mouths shut. Hostile estimates ran as high as a billion dollars...