STOCKHOLM. Preferens Aktie 100 Kronor. Serie C. red, black. No 1685. Ivan Kreuger was known as the 'Match King' (controlling up to three quarters of the worldwide match production in the 1920s). He is also known to financial historians as author of one of the greatest of frauds. From the match factory which he inherited,Kreuger built up a giant business, reaching to many parts of the world; this was based on exclusive monopolies for matches, which he had arranged in various countries. Since he had a good reputation, from which others wished to benefit, he had almost unlimited credit. The shareholders received large dividends, which were taken as a sign that the business was flourishing. During the 1920s Kreuger lent large sums of money to poor countries in central Europe. These came, apparently, from the large profits earned by the Kreuger business. In fact, Kreuger had to borrow much or all of this money. He committed suicide in Paris in 1932, and only afterwards did it become clear how large the fraud was. However, it was only since 1917 that Ivar started his match business. In 1908, at age 28, he formed together with Paul Toll a construction company. Taking advantage of his cousin, Henrik Kreuger's experience in Germany, he introduced the new way of constructing buildings in Sweden. It quickly became a huge success and he won prestigious contracts such as the construction of the Stockholm Olympic Stadium. Within a few years, the firm was seen as the best building company in Sweden and one of the top firms in all of Europe. The share we offer is hand signed by both Ivar Kreuger and Paul Toll. Extremely rare.
Themes: CONSTRUCTION & BUILDING, TOBACCO
KRUGER, Ivar, TOLL, Paul
Date: 5 October 1910
Startprice: € 300