Word: kreugers
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Dates: during 1930-1939
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Less dramatic but equally momentous was I. T. & T.'s acquisition last week of a "dominant interest" in L. M. Ericsson Telephone Co. The purchase was made from Kreuger & Toll, Swedish match monopolists, bankers, and industrialists who have been dominant in Ericsson for only nine months (TIME, Sept. 15). Although Swedes must regret what amounts to the loss of one of their nation's greatest enterprises, the deal opens new and larger spheres to Herr Kreuger. His company received large amounts of I. T. & T. stock in return for Ericsson and is now thought to be the largest...
Matches. Far flung are the operations of Kreuger & Toll Co., holding company for the great "Swedish Match Trust," for 21 industrial banking and real estate operations, for the Grangesberg Co. iron mines (Europe's biggest), for the control of L. M. Ericsson Telephone Co. Master of its many operations, getter of its match monopolies is close-shaven,quick-speaking Ivar Kreuger, self-made, much publicized "world's richest bachelor." To shareholders last week he reported that Kreuger & Toll during 1930 earned $24,163,000 from dividends and interest received, against $14,278,000 from those sources in 1929. Trading profits...
Diamond Match. Last week Diamond Match Co. new stock sold around $18 a share, but the company's bankers announced that, as planned at the time of recapitalization (TIME, Sept. 22), 350,000 shares had been privately placed at $37. Persistent was the story that Ivar Kreuger's Swedish Match group had acquired this block which carries 33 ⅓% of voting control. Obviously only a group which wanted a big interest in Diamond Match very badly would pay so much above market. Bankers for the company announced that "no change in management is contemplated," but of course...
Chairman of General Telephone & Electric's executive committee will be Elisha Walker, Chairman of Transamerica's executive committee. Last week he expounded the reasons that make this deal logical, reasons realized by Ivar Kreuger when he bought into Ericcson Telephone, a similar deal. Said Mr. Walker somewhat verbosely: "It deserves to be noted that in an era distinguished not infrequently by industrial overproduction, there has been no excess of production by manufacturing plants producing the requirements of telephonic communications systems overseas. . . . We may anticipate, I believe, a continuing development in telephonic communications overseas...
...from 5,000,000 in 1928), and pricecutting by competitors, have kept the match business from being lucrative. The entrance of Swedish Match into the U. S. field with factories of its own would complicate conditions. It is conceivable that even Diamond's rivals would rather see it Kreuger & Diamond rather than Kreuger v. Diamond...