Word: citro
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Societe Anonyme André Citroën was heavy on the Paris Bourse one day last week. In a fortnight the stock had tobogganed from 500 francs per share to 260. Andre Citroen, the bald, dapper little "Ford of France," was in swift financial waters. From one excited broker to another sped reports of a general creditors' meeting at the Bank of France. Finally the Agence Economique et Financiére, the Dow, Jones & Co. of Paris, rumbled authoritatively...
...Ford of France was by no means out, but no longer would he run his two billion-franc company with the absolutism which, along with mass production methods, he borrowed from his idol, the Ford of Dearborn. Andre Citroën has what Henry Ford mortally hates & fears -bankers...
...Citroën's bankers used to be the famed house of Lazard Freres. Early in Depression, which to France came late. Lazard Freres tried to curb its client's exuberance, urged him to retrench. M. Citroën's reply was to buy up what little stock he needed for absolute control, preparatory to riding out Depression in solitary splendor. Lazard made haste to dispose of its minority interest...
...Sharply Citroën's annual output of 120.000 automobiles in 1929 dropped to 58,000 in (the fiscal year) 1932. First hint of trouble came that year when the French Government threatened legal action to force M. Citroën to hand over the social insurance premiums he had collected from his 25,000 employes. Last spring a 10% wage cut brought ugly rioting at the Citroën plant in Paris, a lock-out and in the end a several-weeks' shutdown. A completely redesigned Citroën for 1934 entailed heavy retooling expenses and Jean...
Died. Capt. Isaac Edward Emerson, 71, drug manufacturer, president and board chairman of Emerson's Bromo-Seltzer Inc. (a company controlling Citro Chemical Co. of America, Maryland Glass Corp., and Emerson Drug Co.), hotel and realty owner; of heart disease; in Baltimore. Col. Emerson was a famed yachtsman, and with his daughter Margaret (Mrs. Charles Minot Amory, relict of the late Alfred Gwynne Vanderbilt who died in the Lusitania disaster) a horse breeder...