A Sad Tragedy

Grey River Argus, 15 March 1932, Page 5

A Sad Tragedy

ADVERSITY. OPPOSITION AND ILL-HEALTH. PARIS, Alarch 14. AL Littorin, the Assistant-Managing Director of the Swedish Afatch Company, who wag one of Kreuger’s oldest friends, says ho believes the deceased only decided to take his life for a few minutes before he fired the gun. He left a scribbled note saying that he had tried, but could not see the use of going on. (Received Alarch 14 at 10.10 p.m.) LONDON, Alarch 14. ' Iva n Kreuger’s suicide has caused a sensatio n in two continents. A prominent Parisian businessman says it is a real tragedy. Suicide, he says, was unnecessary. Kreuger could have pulled through. His innumerable undertakings were individually sound but the impossibility of his remitting monies .from certain countries had hampered his companies’ transactions, while he was in ill health, which sapped his courage. It is believed that Kreuger met a number of big business men at Paris, an ( ] that he reached the conviction that a French financial group were trying to wreck his companies.

BIG LOANS BY KREUGER COMPANIES. Two years ago the Kreuger concerns were valued at one hundred and sixty million pounds sterling, whereas on •Saturday the »Stock Exchange, valuation of them was forty-five million pounds The loans of the Kreuger companies to countries included seven millions to Hungary, four and a-half millions to Jugo-Slavia, six millions to Ron mania, and two millions to Turkey. The “Financial News” says:—Had the death of Ivan Kreuger occurred three months ago, it would have had a catastrophic effect, and would probably have caused the suspension of the golj standard in several countries, but in the meantime th-e international monetary situation has become; less unstable. SWEDISH PANIC FORESTALLED. (Aus. N.Z. Cable Assn.) STOCKHOLM, March 13. The Government hurriedly convened Parliament to pass a Moratorium Bill for private concerns, with special application to Kreuger. Kreuger’s death, may be followed by claims on Kreuger undertakings, states the Prime Minister. The Inspector of Swedish banks, Al. ( Ekman, points out that the Moratorium Bill is not due to Government fears of solvency. The banks have no cause for alarm, and are opening as usual on Alonday. M. Hcckscher, a prominent economist, declares that the suicide does not mean the writing of the obituary of the Kreuger concerns.