Word: creusot
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...Reader Getz consider the undenied statement in FORTUNE, March 1934 ("Arms and The Men"), that France's Schneider Creusot armaments firm secretly helped finance Adolf Hitler, then turned around and propagandized at home for defense against rearmed Germany...
...hearings began. Last March FORTUNE pointed out that, though the U. S. was far from innocent in the game of international armaments, U. S. munitions makers were very small fry indeed compared to such vast purveyors of war materials as France's Comité des Forges and Schneider-Creusot, Germany's Krupp, Britain's Vickers-Armstrong, Czechoslovakia's Skoda. First companies called before Senator Nye's committee were Electric Boat Co. of Groton, Conn, (submarines) and Driggs Ordnance & Engineering Co. (antiaircraft guns). Those who expected to hear the cannons roar had to content themselves with...
...half dollars. During the last few years the Far East in particular has contributed much to satisfy the MM. de Wendel and Schneider--to say nothing of Vickers-Armstrong's Sir Herbert Lawrence. Japan has been a highly profitable customer; the firm of Mitsul, allied to both Schneider-Creusot and Vickers-Armstrongs, served its country splendidly when Manchuria was flaming brightest. It also served China excellently. In 1930 China, the world's largest importer of arms, bought almost 40 percent of its war material from Japan. The European armament makers who were supplying this trade found the free port...
Inevitably, after the war, Hungary caught the itch to rearm. The Treaty of Trianon, by which she made peace with the Airlines and Associated Powers, for bade it. Schneider-Creusot, however, was above treaties. Hungary got the money with which to place a large order with Skoda, the Schneider-Creusot subsidiary in Czechoslovakia--got it through the Banquet General de Credit Hongrois; Which in turn is financed by the Banque de 1'Union Parisienne, of which Eugene Schnelder is a director. Thus it was that Schneider contrived once again to circumvent his government and rearm a nation that France...
...voice crying in the wilderness was the voice of the French Deputy from the Creusot district, Paul Faure. Several times in 1931 and 1932 M. Faure made speeches to the Chamber. He raised the question of the Hungarian loan and asked, in essence, Who holds the bag? Obviously not Skoda; it had paid a dividend of 28 1/2 per cent in 1930, with never a recession in its steady year-by-year increases. He went further: he traced from the early days of the century the curious fashion in which French governmental loans insisted on relating themselves to Schneider Creusot...