KREUGER FAILURE
SERIOUS POSITION DEVELOPED
[by CABLE —PRESS ASSN.—COPYRIGHT.]
(Rec. April 8, 8 a.m.) LONDON, April 7.
No estimate is even hazarded, of the liabilities involved, in the Krueger Toll affair. Enough is known to convince London and other financial centres that a serious position may have to be faced.
A meeting convened of leading financial houses in the City and attended by representatives of Stock Exchange, Insurance and Trust Companies, formed a provisional committee to keep in touch with the situation.
The suicide of Ivar Kreuger, the Swedish millionaire, caused a sensation in two continents on March 13. Two years ago his concerns were valued at £160,000,000, but two days before his death the Stock Exchange valuation was £45,000,000, His loans to foreign countries included £7,000,000 to Hungary, £4,500,000 to Jugoslavia, £6,000,000 to Rumania and £2,000,000 to Turkey.
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Greymouth Evening Star, 8 April 1932, Page 7
Word Count
139KREUGER FAILURE Greymouth Evening Star, 8 April 1932, Page 7
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