Word: tolls
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Dates: during 1930-1939
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...eight traffic lanes of the bridge can handle 57,000 vehicles per 12-hr, day. First 24 hours the bridge was opened last week 50,000 automobiles crossed over. In the next twelve hours 50.000 more crossed. Motorists paid 25? toll per car, trucks up to 75?. Passenger cars were compelled to travel 40 m.p.h. across the bridge. Fifteen minutes sufficed to cover distances which heretofore required well over an hour through narrow streets and over older bridges. Immediate result of the Triborough's opening: a 30% drop in traffic across the older East River bridges between Manhattan...
Last week the stockholders of Swedish Match Co., meeting at Jönköping, Sweden, approved a new stock issue of 1,100,000 Class B shares. Next day Manhattan newspapers noted briefly that a readjustment plan proposed last April for Kreuger & Toll debentures had been accepted by the U. S. holders. These two occurrences meant that at last thousands of investors could be sure of realizing something on the colossal wastebasket of international paper spilled by Ivar Kreuger when he shot himself in Paris in March 1932. With the $2,500,000 contribution which Swedish Match will...
Nucleus of the Kreuger enterprises, the originally honest construction business of Kreuger & Toll had become by 1932 nothing but a holding company for International Match and Swedish Match and a catch-all for Kreuger's credit deals. The report of the Swedish investigating committee seemed to confirm popular belief that Kreuger & Toll was hollow right down to the ground, that the Kreuger & Toll debentures sold by Ivar Kreuger in Europe and the U. S. in 1929 were about as worthless as any Kreuger securities except those that Kreuger had forged by hand...
...Stockholm, verified the existence of collateral for the debentures, petitioned the Supreme Court of Massachusetts to appoint for its safekeeping a New York trustee. They fought the claims brought by the creditors of International Match and Swedish Match, which alone remained in business, against the dubious assets of Kreuger & Toll. When it appeared that Swedish law might defeat them, they persuaded the other two groups to participate in extra-legal negotiations...
First result of these was the formation of an International Committee headed by Norman H. Davis. In the spring of 1934 the International Committee reported not only that valuable assets remained to Kreuger & Toll but that a three-way re-organization was still possible. Eventually, however, the committee-changed its mind about rehabilitating the whole match business, and principal groups got busy again hunting for realizable assets...