Word: hugo
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Dates: during 1920-1929
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...trouble was precipitated by the heavy liquidation of shares in the Stinnes companies, which are suddenly beset with lack of working capital and other serious difficulties (TIME, June 8, 15, GERMANY). The sons of Hugo Stinnes have not exhibited their father's conspicuous financial abilities in carrying on his far-flung business interests since his death. But even were the elder Stinnes still alive, it is doubtful whether he could have passed through the recent stockmarket storm unscathed...
...difficulties of the Stinnes concerns relate to the new turn in German currency matters. While the mark was shooting downward toward practical worthlessness, Hugo Stinnes bought everything in sight of a tangible character, and went deeply into debt also. Later, he paid off many of his debts at bargain prices-hence his enormous profits. Meanwhile, he had as little working capital as possible, and the minimum resources in actual money...
...leapt from the bag. Wild rumors circulated in Berlin: "The House of Stinnes is bankrupt"; "The Stinnes power is unshaken." These were the extreme views. Certain it was that the vast," intricate interests bequeathed by the late Herr Hugo Stinnes were financially embarrassed. Fear was expressed that, since neither Hugo Stinnes Jr. nor any member of the family had been present at the bankers' meeting, the loan was merely a palliative to tide over a situation for a short time in order to save the market from inevitable panic at a time of great depression. But such fears were...
...When Hugo Stinnes, the John Davison Rockefeller of Germany, died, last year (TIME, Apr. 21, 1924), his vast interests were left to his Witwe (widow), Frau Klaire Wagenknecht Stinnes, and direction of the estate was divided between Dr. Edmund Hugo Stinnes, the eldest of Herr Stinnes' five children, and "Junior" (Hugo Hermann) Stinnes, the second...
Evidently, according to the will, quarrels were foreseen and specifically guarded against. Moreover, with two temperamentally opposed men directing the Hugo Stinnes estate, a quarrel seemed only a matter of time...