Word: kreuger
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...talked with Mr. Sloan at the Refrigerator Show was Axel Leonard Wenner-Gren, since the death of Ivar Kreuger Sweden's No. 1 tycoon. Mr. Wenner-Gren was not discouraged by his failure to sell his Elektrolux (spelled with a c in U. S.) refrigerator to Mr. Sloan. Mr. Wrenner-Gren eventually got his asking price when he sold to Servel, Inc. the U. S., Canadian and Cuban rights. Through this deal he became Servel's largest stockholder and later a director. After a series of reorganizations Servel emerged in 1928 as a $14,000,000 concern backed...
...Frederic Winthrop Allen, 56, member of Lee. Higginson & Co.. corporation director (Chase National Bank, Shell Union Oil Corp., Otis Elevator and other companies), onetime (1916-26) chairman of Yale's graduate rowing committee; after long illness; in Manhattan. As U. S. bankers for the late Matchmaker Ivar Kreuger, Lee. Higginson sold some $150,000,000 of Kreuger securities. When Kreuger's suicide toppled the match empire, odium fell on Lee, Higginson for not having insisted on a U. S. audit. Patrician Banker Allen, with seven other directors of International Match Co. (Kreuger affiliate) were sued for negligence...
Since that grim March day in 1932 when a certain Swede lay down on his bed at No. 5 Avenue Victor-Emmanuel III, Paris and put a bullet through his heart, there has been little but grim news for holders of Kreuger & Toll securities. Last week some of them had a new shock: Manhattan's Marine Midland Trust Co., successor trustee of Kreuger & Toll secured debenture 55, announced that on Sept. 1 it would distribute $25 to each holder of a $1,000 debenture...
...contracted with the late Ivar Kreuger to purchase a "dominant interest" in Ericsson, made a down payment of $11,000,000, and received Ericsson stock of equivalent value. Then it asked for an audit. It was this audit, disclosing Kreuger's false statements, which wrote the final chapter in the Match King's career. Sosthenes Behn declared he would cancel the deal, asked for his money back. He has yet to see it. So he kept the Ericsson stock, which gave him a 20% voting interest. It was this block which, subject to the approval of the Swedish...
Alexander turned him down. Though he despised Lowenstein he liked the late, equally notorious Ivar Kreuger, would never admit that he was a crook. He fell in love with a young Englishwoman at Biarritz, but it came to nothing because she insisted on marriage and his wife would not give him a divorce. He became a spiritualist. Finally he did the accepted thing, went to the U. S. as a lecturer. At his first lecture (in a Baptist church in Grand Rapids) the unexpected strains of the Russian National Anthem made him blench. Nothing else in the U. S. seems...