Word: grenning
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Died. Axel Wenner-Gren, 80, handsome, white-haired "Swedish sphinx" of international finance who amassed a personal fortune of more than $1 billion by dealing in everything from diet pills to antiaircraft guns, donated nearly $50 million to libraries and laboratories around the world, but never quite stilled the doubts aroused by his suspected dealings with the Nazis in World War II; of cancer; in Stockholm. A consummate salesman, Wenner-Gren worked in obscure jobs in Sweden and the U.S. till he was nearly 40, then proceeded to put together an industrial empire based on Electrolux vacuum cleaners and Servel...
...Andros Island, Axel Wenner-Gren, the Swedish tycoon (Electrolux vacuum cleaners, Bofors guns), has sunk $11 million in a long-range resort-and-home-building project. On the northern end of Andros, Parker Pen Co. Chairman Kenneth S. Parker is developing 8,500 acres of building and truck-gardening land. Louis R. Wasey, former ad agency executive (Erwin, Wasey & Co.), sold frs stockholdings in 1956 to concentrate on his Cat Cay Club, a heaven for well-heeled fishermen. Biggest venture of all is Freeport, a man-made harbor, industry site and bunkering installation 81 miles east of Palm Beach...
...Since there is little they can-or want to -do about it, the Allies may now decide to release Krupp formally from his pledge. Krupp is already believed to own 75% of Bochumer Verein's stock, obtained through the good offices of his friend, Swedish Industrialist Axel Wenner-Gren...
Eyes Forward. The future, not the past or even the present, is where British Columbia sets its sights. Last year Premier Bennett announced that his government proposed to license Sweden's Multimillionaire Axel Wenner-Gren (TIME, Oct. 21, 1957) to build a $400 million-to-$600 million hydroelectric project on the Peace River, wire the electricity 600 miles to Vancouver. Wenner-Gren would also study the possibility of building pulp and paper mills, mines and smelters in the undeveloped northland. Since then, Wenner-Gren has spent an estimated $10 million surveying possible dam sites, prospecting for minerals...
...Wenner-Gren carries out his grand scheme, it will pump new millions into British Columbia's growing economy. If he does not, other investors will sooner or later pour in the necessary millions to unlock the northland's treasure. No one mistakes the lessons of B.C.'s first century. It is only a hint of the possibilities for the next 100 years...