Word: kreuger
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Dates: during 1950-1959
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...INCREDIBLE IVAR KREUGER (301 pp.) - Allen Churchill - Rinehart...
...wrapped in a shroud of melancholy over the passing of the great democrat-all but a luncheon party of American. British and Swedish bankers who waited in edgy silence at the Hotel du Rhin to confer with an autocratic emperor of finance. "Match King'' Ivar Kreuger. If they had cause for melancholy, they did not yet know it. They were somewhat nervous about some bookkeeping discrepancies that had cropped up in one of Kreuger's subsidiary companies, and there had been Ivar's strange breakdown on his recent trip to New York when he babbled...
...Bird Charmer. Though the suicide was hushed up that afternoon to allow the New York Stock Exchange to close, the market opened the following Monday to a flood of "sell" orders on Kreuger stocks and bonds, to which hardheaded U.S. financiers and softheaded speculators alike had subscribed some $250 million. Prices plummeted; one issue of Kreuger stock opened at 5, off 37½ points from the previous close. In little over a month after his death, it was clear that Kreuger had been the world's greatest swindler, having "misappropriated" some $1,168,000,000 in nine years...
...plenty of excitement in "graveyard" bond issues, i.e., defaulted bonds of satellite countries. A flurry of trading sent Polish bonds scampering from 8 to 13, the highest price since 1949. Estonian issues jumped from 11⅞ to 15, the highest they had climbed since 1947. Overnight, an issue of Kreuger & Toll bonds, backed by assets frozen in Hungary, more than doubled in price from ¾ to 1¾. None of them had an apparent value. But speculators were hoping that Stalin's death might shake satellite countries loose from Russia, and that they might pay off the bonds...
...have been, yet she loves him helplessly, as if he were more than a brother. To salvage him, she takes Anthony back with her to Sweden, where she is ensconced as mistress to Erik Krogh, Europe's richest man and apparently a facsimile of Swedish Match King Ivar Kreuger...