Word: kreugers
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Dates: during 1930-1939
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Administrators of the estate of the late Ivar Kreuger announced that, to satisfy creditors, $100,000 worth of his silverware, books, paintings, including a Bacchanalian by Peter Paul Rubens valued at $20,000, will be sold at auction in Jersey City. In Stockholm Torsten Kreuger was fined 1,500.000 kroner (about $390,000) and sentenced to one year's hard labor for his part in his brother's crockery. Administrators of the estate of Chicago's late Edith Rockefeller McCormick announced that the furnishings of her Romanesque Lake Shore Drive town house will be auctioned next month...
...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...
...strips dumped outside herring canneries, how he organized his playmates to make and sell his product, how he thrashed them when their salesmanship was poor. Son of a Swedish count, he later worked in Gothenburg but, restless and energetic, went to Berlin to learn big business. Later, like Ivar Kreuger, he worked and traveled all over the world. Before the War he picked out vacuum cleaners as a likely product to distribute. But the War stopped his plans for an international selling organization. With capital of 120,000 kroner (about $32,000) A. B. Elektrolux was launched in 1919. Thereafter...
...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...