Word: ericssons
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Four svelte, attractive ladies and a schoolgirl were grouped in a two-page water color by Artist Carl Ericsson in last week's issue of Vogue. Most Vogue readers saw what they were supposed to see: that each of the anonymous ladies was wearing a smart hat which specially befitted her age. A few observers noted something else: some of the faces looked familiar...
...Stockholm went the accountants of Price, Waterhouse & Co. After much investigation they cabled I. T. & T. that Ericsson's cash account had been misrepresented, cheap foreign bonds being carried in the cash account at par value. In Manhattan Ivar Kreuger tried to pass this off. It was a mistake in translation he insisted. Oh yes, the bonds had been placed in lieu of cash but that was just a temporary loan Ericsson Telephone had made to Kreuger & Toll?he would soon put the cash back and take the bonds in return. And did not Sosthenes Behn see that Ivar Kreuger...
...Kreuger's International Match Corp. Lee, Higginson had just floated a $50,000,000 International Match debenture issue in the U. S. "for important new investments in Poland . . . and other purposes." Banker Rentschler suggested that Banker Murnane ought to hear Kreu-ger's explanation of the failure of the Ericsson deal. It was Sunday, Feb. 21. Banker Murnane went off to church, then summoned his good friend and partner Donald Durant who was personally very close to Ivar Kreuger. Together they went to the Kreuger penthouse at No. 791 Park Avenue. Asked for his explanation Herr Kreuger again muttered something...
...days after the penthouse interview a $4.000,000 unsecured loan made to International Match by several big banks fell due. Ivar Kreuger admitted he could not pay it. National City Bank, despite its recent experience in the Ericsson deal, offered to renew. S. Sloan Colt, president of Bankers Trust Co., renewed the loan after a cursory glance at a forecast of International Match's income. On the forecast were two items which should already have been collected by International Match. Neither had been received but that was not commented upon. No willing renewer, however, was Pittsburgh's Union Trust...
None of the Lee, Higginson partners who testified last week admitted that they had felt any alarm over the coincidence of irregularities in the Ericsson deal and International Match's inability to pay a $4,000,000 loan although its 1931 income had been reported at $20,000,000. Last week they seemed to listen with surprise to the description of International Match's bookkeeping as given by James Naumburg Rosenberg, counsel for the receiver...