Word: tolls
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Dates: during 1950-1959
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...through school, and with an engineer's diploma in his pocket, Ivar began ricocheting around the globe. He did wiring jobs on Manhattan's Plaza and St. Regis Hotels, operated a restaurant -in Johannesburg. Back in Stockholm in 1908, he co-founded the building firm of Kreuger & Toll. Then he took over his family's three match factories, was shortly gobbling up competitors and building his giant Swedish match combine...
...both idol and symbol-not, as most men then thought, a Paul Bunyan of finance, but a gross glandular case of surpassing greed. Today, only one tiny match flare from Kreuger's mighty kingdom remains on the financial pages of U.S. newspapers. In mingled hope and irony, Kreuger & Toll 5% debenture bonds, with a $1,000 face value, sell on the N.Y. Stock Exchange for about $40. Before the bond's name appears the tiny letter "q," signifying "in bankruptcy...
...result has borne well the test of time. For the jade, Chinese porcelains, 18th-century French furniture, paneling, fixtures. Royal Beauvais tapestries by Jean-Baptiste Oudry, paintings by Watteau, Gainsborough, Lawrence, Romney and Raeburn. the current market will pay back the investment, and more than make up for the toll of inflation...
...bail out recently built state turnpikes that are financial flops, raise value of depressed turnpike bonds. New plan would link turnpikes into $33.5 billion U.S. highway program, have Government reimburse states for their costs. Kansas, Pennsylvania, Kentucky are hoping to unload some turnpikes onto federal network, possibly turn toll roads into free U.S. highways...
From Berlin to Sofia, Russia's satellites were in the grip of a new crisis last week as the political upheaval of past months took its toll on their carefully coordinated economies. With industrial production in Hungary cut 75% by weeks of revolt and strikes, the Communist Government announced mass dismissals of industrial workers and government employees. East Germany's Red leaders arrived in Moscow to ask Russian aid for the faltering East German economy. In Warsaw the Polish government set up a 25-man "brain trust" to grapple with Poland's serious economic ills. All three...