Word: kronor
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Dates: during 1928-1928
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Investors in the seven countries were invited to buy participating debentures of Kreuger & Toll Co The par value of the issue was only 45.000,000 kronor (about $11,000,000). But the market value of the debentures was six or seven times this amount. The American banking group, headed by Lee, Higginson,* offered American certificates representing debentures of 20 kronor par value at $28.14. In the first day's trading in Manhattan they rose to about $35. Lucky investors who had advance orders confirmed by the bankers realized a huge profit in a few hours...