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"MATCH KING'S" DEATH.

COMPLICATIONS FOLLOW. CONCERN AT STOCKHOLM. AFFAIRS OF HIS COMPANIES. By Telegraph—Press Association—Copyright. - (Received March 14, 11.5 p.m.) STOCKHOLM. March M. The late Mr. Ivar Kreuger controlled four-fifths of the world's match supply and habitually he had dealt with millions 1 ' of pounds. The Swedish Match Company's capital alone is £20,000,000. Mr. Kreuger's death may be followed by claims on the Kreuger undertakings, says the Prime Minister, Mr. C. G. Ekman. After a 15 minutes' debate both Houses of the Riksdag to-day passed a bill authorising tha. Government to grant individuals or companies a short moratorium on their debts. The Kreuger companies asked for a respite till the end of March and this the Government will give. An inspector of Swedish banks points out that the Moratorium Bill was not introduced owing to the Government's fears as to the solvency of the Kreuger concerns. The bankers, oil the contrary, have no cause for alarm and their institutions are to be opened as usual on Mondav.

Mr. Heckscher, a prominent economist, says tho suicide of Mr. Kreuger does not mean writing tho obituary of the Kreuger concerns.

GREAT SENSATION. REASONS FOR SUICIDE. FINANCIAL WORLD STIRRED. (Received March 14, 11.35 p.m.) LONDON. March 14. The suicide of Mr. Kreuger has caused a sensation on two continents. A prominent Paris business man says the real tragedy was that the suicide was not necessary. Mr. Kreuger could have pulled through. His innumerable undertakings individually were sound, but Ihe impossibility of remitting money from certain countries hampered his transactions and ill-health sapped his courage. It is believed that Mr. Kreuger met a number of big business men in Paris and reached the conviction that a French financial group was trying to wreck his companies. Two years ago these concerns were valued at £160.000,000, but on Saturday the Stock Exchange valuation was £45.000,000. Ilis loans to foreign countries included £7,000,000 to Hungary, £4.500,000 to Yugoslavia, £6,000.000 to Rumania and £2,000,000 to Turkey. The Financial News says had Mr. Kreuger's death occurred three months ago it would liavo had a catastrophic effect and probably would have caused the suspension of the g<3!d standard in several countries, but in the meantime the international monetary situation had altered.

A message from Paris states that M. Littorin, assistant-managing-director of the Swedish Match Company, who was one of tlio oldest friends of Mr. Kreu ger, says lie believes ho only decided lo take his life a few minutes before he fired the shot. He left a scribbled noto saying he had tried but could not sec the use of going on.

EFFORTS TO BORROW. KREUGER'S DIFFICULTIES. COULD HAVE PROCURED AID. (Received March 14, 10.55 p.m.) LONDON, March 14. Sir Arthur Stanley, director of the Rritish Match Corporation, which holds all the ordinary shares in Bryant and May, announces that although Mr. Kreuger was a director of the corporation, it did not share in his financial operations. The Stockholm correspondent of the Times says had Mr. Kreuger admitted his difficulties his countrymen would havo jumped to his assistance to avert his suicide, which is regarded as a severe blow at Swedish national pride. He had vainly tried to borrow £6,500,000 which he urgently needed for repayment on April 1, to tho Scandinaviska Krcdit Aktiebloahet. Otherwise he was not to be allowed to declare a dividend.

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/NZH19320315.2.69

Bibliographic details

New Zealand Herald, Volume LXIX, Issue 21132, 15 March 1932, Page 9

Word Count
555

"MATCH KING'S" DEATH. New Zealand Herald, Volume LXIX, Issue 21132, 15 March 1932, Page 9

"MATCH KING'S" DEATH. New Zealand Herald, Volume LXIX, Issue 21132, 15 March 1932, Page 9

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