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...connection with the U. S. Phoenix Insurance Co. is the equally important Vienna Phoenix Life Insurance Co., known throughout Central Europe as "Phönix-Wien." Founded in 1882, it established branches throughout the empire, grew prosperous. The break-up of the old Austrian empire did not seem to affect it. Phönix-Wien rode like a duck over the wild inflation of 1923. Less than a year ago Phönix-Wien boasted assets of nearly 750,000,000 schillings ($150,000,000), controlled 15 different companies and had absorbed two-thirds of the insurance companies in Austria...
Middle of March Phönix-Wien's pudgy little Director Wilhelm Berliner died under mysterious circumstances. Within a few days the small subsidiary Kompassbank failed and the Bourse knew that Phönix-Wien owed at least $50,000,000. When police sought Heinrich Ochsner, director of the Finance Ministry's section supervising private insurance companies, he blew his brains...
Press censorship was clamped down on all references to the scandal. Several footless efforts were made to prop up the sagging company. Last week came the end when Phönix-Wien disbanded, three directors were arrested, and from its ashes rose a new insurance company called Austrian Insurance Co. Ltd., capitalized at only $2,000,000. Foreign Phönix policyholders will have to stand their loss. The new company hopes to save Austrian policies with a 5% premium rise, a special tax on other Austrian insurance companies...
...were the facts. The whispers going the Socialist rounds in Vienna were far more colorful. When the Nazis came to power in Germany one of the most successful methods of gaining popular support for their anti-Semitic campaign was the forced bankruptcy of many large Jewish firms in Germany. Phönix-Wien, apart from its handsome board chairman, General Carl Vaugoin, was almost exclusively Jewish...
FROM experience, Dr. Dexter Merriam Keezer, president of Reed College (Portland, Ore.) has learned that heavy academic robes are stifling. Amherst A. B., Cornell M. A., Brookings Institute Ph. D., Dr. Keezer taught variously and brilliantly at Dartmouth, Cornell, and the Universities of California and North Carolina, but he was a fish that leapt occasionally from the dry bank into the stream to get into the swim of things again. He worked on the Denver Times and edited the Baltimore Sun, Reed College found him a year ago working on the NRA Consumers' Advisory Board...