Word: wreszynski
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Dates: during 1930-1939
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Preceded by European legends of fabulous wealth and lavish living, a big black-haired Briton and a little, grey-haired German arrived in Manhattan last week to do business in frozen German credits. Lieut.-Colonel Francis Norris and Siegfried Wreszynski established headquarters at Manhattan's swank Savoy-Plaza Hotel. "We don't take all the business that comes to us," they declared to reporters. "Perhaps $5,000,000 would be too small. It is just as much trouble to handle $5,000,000 as $100,000,000." They had, they boasted, liquidated a total...
...secretary to Britain's onetime Postmaster-General Sir Charles Hobhouse, and they deprecated tall tales of the swath they had cut across the Continent. "You see we have only five rooms at the Savoy-Plaza and we should have more with all the business we do," piped Siegfried Wreszynski. "And the telephone is proving a nuisance," said the Colonel. "People arrive in their offices in London, Brussels and Amsterdam at 10:30, and they call us up at the Savoy-Plaza. They don't realize it is 6 a. m. here. We had to refuse calls...
...process (quite legal) is a deep trade secret and each bank has its own system. Highly involved, it usually entails purchasing marks at a big discount from holders of frozen credits, then selling the marks to people who are forced to buy or travel in Germany. But Messrs. Wreszynski & Norris will pay more for their marks than legitimate bankers, sometimes 2%, sometimes 10% they say, depending on the individual deal. Last week Manhattan banks which furnish a thawing service regarded the high-powered gentlemen at the Savoy-Plaza with astonishment. As for talk of a $300,000,000 turnover...
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