TRUST BURSTS

Feilding Star, Volume 3, Issue 319, 21 July 1925, Page 5

TRUST BURSTS

WHEN HUGO STINNES. DIES WIDOW CLEARS THE WRECKAGE BISS BUSINESSES AT BARGAIN BRICES (By Electric Cable—Copyright) (Aust. and N.Z, Cable Association). London. July 20. The Daily Chronicle’s Berlin correspondent st-ate s that when 11 err -Stirines died lie controlled 1388 concerns. The vast trust has now been pulled down in a few days by I ran Stinnes. widow, who, with iron nerve and deform illation., has laid low the

Tower of Babel her husband erected, selling desperately in order to rescue little from the wreck. Her two sons proved quite incapable of carrying on their father s business.

(Tuler Frau Stinnes’ orders, hmi-li-eds of concerns, big and little, have jeon sold aI. bargain prices, including

eight million mark s worth ol shares in" t he Berlin Handelsgesellssch a ft which had keen of immense value when the mist required credit. Those doing had become worth thirteen million, hilt Frail Stinnes sold them lor ten million. The bank therefore has shaken off its undesirable Similes' imprest and made a profit of three million marks.

Tin- .Rhineland Westpthaiian Electricity Works, of which ‘Stimms was specially proud, were sold to a rival firm called die Fluted Industries Vur dertakings at bankrupt stock price, though the nominal capital was rained at six million sterling. The Stinncs Company for trading in tho East wil be closed down, as will the Russian Trading Department. Stinncs’ shipping line s will he sold to American and German concerns. ‘ The palatial oilices of the. Route-lie Allgcmcivic Zeitung were sold 1 at an

amazing low figure. The Prusian Government bought large portions of the Trusts landed estates.

Practically the whole Trust except a few iron and coal interests has been broken up. it was too complicated for anyone to control except a master mind.