Word: kreuger
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...Jersey City vault last week, detectives and ferreting lawyers discovered a cache of paintings, books, and silverware valued at $100,000, which squirrely friends of the late Ivar Kreuger had attempted to hide from the legal creditors of his estate. Still missing is a collection of 300 etchings supposed to be worth...
During this "freedom from control'' Ivar Kreuger mulcted the public of $560,000,000, gulled banks & bankers for another $164,000,000. Out of the $724,000,000 capital at his disposal he paid back to the public, in interest and "dividends," $180,000,000. In securities, monopolies and associated companies he invested $458,000,000, worth last March at market prices $207,700,000-all that remains of Kreuger's $750,000,000 dream...
...items in the Price, Waterhouse report give the measure of Ivar Kreuger as a crook and a swindler: "Withdrawn by Ivar Kreuger on current accounts," and "Securities and other assets appropriated" -432,046,000 Swedish kroner net, at par about...
...Kreuger was able to make off with $115,000,000, Price, Waterhouse, explained, not only because of the confidence he inspired and his autocratic powers but also because of "the loyalty or unquestioning obedience of officials who evidently were selected with great care (some for their ability, others for their weaknesses). . . ." Moralized Price, Waterhouse: "The history of this Group of Companies emphasizes anew the truth that enterprises in which complete secrecy on the part of the chief executive as to the way in which important parts of the capital are employed is, or is alleged to be, essential . . . are fundamentally...
...Washington last week Senator Peter Norbeck, onetime South Dakota well-digger, set his Banking & Currency Committee once again to probing buying & selling practices on U. S. stock exchanges (TIME, July 4). They began by poking in the ashes of Kreuger's matchdom. Witnesses brought the Committee up to date on Kreuger history but were unable to shake Senator Reynolds's firm belief in the No. 1 Kreuger legend: that Ivar Kreuger's death was as false as his life. Lesser legends added recently to the great book of Kreuger lore...