KREUGER’S DUPES

Grey River Argus, 13 May 1932, Page 3

KREUGER’S DUPES

“SMART” YANKEES Wall St. Financiers Fall In '"Amr. & X.Z. A-’-r. - /■Received May 12 at 5 5 p.m.) NEW YORK, May 9 Remarkable revelations as to the manner in which the late Ivar Krcuger (lh<> Match King, of Sweden. who t! ci (led) hoodwinked some, of tho best-known bankers and financiers of Wall Street were disclosed at the bankruptcy hearings of the Infernntional Match Company. Messrs Lee Higginson and Company, which received 6,300 thousand dollars for the 6ntat?nn of 150 million dollars of securities for the Match Company, never even thought of asking Kreuger for «inv ve’ifieation o f the company’s match monopolies, two of which, those in Ttaly and Spain, havn no w been ‘ ’' zi wn to have been non-existents. Members of the family and friends o- ! ‘ Loe, Higginson and Company are lin'ding eight million dollars or Kreuger stocks and debentures, such confidence in his integrity. The Match Company normitted Kreuger to take fifty million dollars in German gold bonds belonging to it. " liirli hn used Io •> large personal loan. The financier, Percy Rockefeller, i disclosed as being n heavy pr.rchas-'r of Kreuger issues after meeting him It was a polite request by Kreuger’-' American bankers as to hn X v he wish ed to repay an eleven million dolin'--loan due by his concern to the I < icrnaUnnal Telephone and Telegraph . r 'ompnny that is believed to have bee” the immediate cause of his suicide. The bankers were so unsuspicious 'hat. even afto v his suicide, they did not sei l his stock, which thev held as collateral