1932-11-24 — Page 6

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Lord Lee of Farcham told this story when opening an exhibition! of art treasures: "Economy has become a national obsession. Even smash and grab raiders are said to he affected.

"I heard the other day of one of these gentlemen from Aberdeen who, when his partner diaplayed his haul of diamond rings said, Ayo, no so bad! But mon, did yel no remember to bring back the brick?"

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Your Daily Smile..

"BANKER'S WEDDING."

* NOVELTY.

*

THURSDAY, NOVEMBER 24, 1932.

Audacious Career Of Ivar Kreuger

Detail Of Manipulation Revealed To World

“ADVENTURE AND GAMBLER

1

"

If Ivar Kreuger at the height of picture of him in his period of his power seemed too fantastic to adolescence. At the technical school be real, he appears just as incredible he was a frail youth and took no to-day. The taciturn Kreuger, who part in sports, but his mind was, A Queen Questionnaire. so recently moved back and forth always busy. He read widely on ep- With a morbidity 'more Teutonic between Stockholm and New York,gineering subjects without bother- than Scandinavian, a Swedish Paris, Berlin and Amsterdam, ex-ing himself unduly with the pre- newspaper has been asking famous tending his industrial conquests and scribed textbooks. He did not need men how, if they were dying, shaking world exchanges by shift-to study very hard, for he learned they would judge themselves. ing huge blocks of capital from one quickly and had a retentive memory. The answers are as varied as nation to another, somed a fabulous But he carefully studied his teach- they are surprising. Mr. Bernard character. But the Kreuger wholers and deliberately managed to lu Shaw proved to be the most modest is dead and discredited, whose au-gratiate himself with each,, Every- of them all. "I believe," he says,dacious financial edifice, now re-body liked him; he had no enemies; "that I have been a failure: only duced to ruina, was based upon a only recently a former teacher re- the world thinks I am a success." gigantic hoax, is equally suggestive ferred to him as "our unfortunate He adds that he would like to die of some sutlandish figure in an friend." in a beautiful place under the extravagant fantasy. atara,"

His Character, A few months ago Kreuger was Bertrand Russell is completely regarded as a financial genlus who tematically was to us only an ex- The fact that he cribbed sys- satisfied with himself, although as was doing perhaps more than any ample of his cleverness, for most of a philosopher he rates himself other individual or any government jus cribbed more or less," said one lower than Locke or Rousseau to check the economic disorder that companion of his school days. "A Einstein declarea with horror that was spreading over the world. he would never ask himself such had, it was true, built up a great a school friend hunting for a job. He few years later in New York he met question.

international trust based upon me Kreuger walked into the office of an nopolies; but in so doing he had engineering firm, took a sheet of the made enormous loans in return for firm's stationery and wrote a recom- his concessions and thus was redis-mendation. The surprised friend tributing capital in much the way asked Kreuger when he had become Was there an archway of cross-an omnipotent economist might associated with the firm. He replied have done. He was borrowing capital that he was not even known there, ed cheques?

in the countries that had too much but thought the stationery would be that order should be maintained!

of it and handing it over to those a help, as it was. Ha liked to test by a local gendarmerie force,

A new romantic novel is printed that were financially underfed. He people to see how they would be- presumably international

single-handed in on scented paper. This stands a was tackling

the have, to try his influence over them. character-and its head might melier.

good chance of becoming a best-baling "transfer problem" which He was an experimenter, an adven-

the governments had bungled. Helturer, a gambler," well be a Japanese subject. The

Was stabilizing and pacifying

From 1907 to about 1923 Kreuger Europe. [rights and interests of Japan are Nice to know.

He was administering towas a builder, realty dealer and in-. to he given the fullest recogni- A naturalist reminds us that ajan alling world which nobody else dustrial organiser with increasing The confusion and doubt at tion; and the sovereignty of

sun-flower always turn towards the seemed able to help.

leanings toward speculative finance. This is a great help to any The governments of the greatest It was during these years that he Geneva create an uneasy atmos-China is to be respected by the holiday-makers who happen to be European States sought his counsel built up a reputation for business. phere for debate and the League retention of the Customs, Post wondering where the sun is.

and assistance, Thousands looked shrewdness and reliability which Council appears impotent to deal Office, and Gabelle in the hands

upan him wtih something like awe later enabled him to get almost un- with the Far East dispute. The of the Central Government at

and proudly treasured his deben limited credit in any country where issues

He was lavishly praised, not there was surplus capital. Kreuger are clear, but are being Nanking.

of tures. At the present time valour.

only by hero-worshipping admirers the builder had an enviable record clouded and side-tracked by other China is a geographical expres-

but by some of the most distinguish and there is even now no suggestion factors, Instead of advancing sion rather than the designation Bank Holiday Slogan.

ed economists and financiers of the that his bookkeeping was not as stage by stage, the League is of an organized State:

world. Trip, trip, hurrah!

his steel, construction. When he Duped The World. attempting to settle the whole posals which might sound im- She Was Only

was asked to become managing To-day he is branded as a rogue director of the match combine affair at once. The course of practicable elsewhere may be

A traveller's daughter, but she who betrayed his friends, ruined effected in 1913, (which was to be action the League is to take is practicable there, and vice versa.

never went too far.

Investors who had trusted him, enlarged in 1917 into the present admittedly difficult but no effec-Although in fact Manchuria has

duped some of the most astute Swedish Match Company), bankers tive decision will be reached if been semi-independent for many

capitalists in Europe and America, indicated that they would be parti- aubjected his country's economic life cularly pleased to entrust their the impossible task is attempted years, the services enumerated

to a severe shock and, above all, fail-money to the new concern of treating all the issues as one. above have formed an integral

ed to stabilize Europe. The memory (Kreuger were at its head. 'Kreuger if The first step should be to ap- part of the Chinese system and boratory have shown that cooling a Kreuger in the days of his glory abanden his building and investment Tests in a Detroit research la-of the adulation showered upon hesitated a week or so, reluctant to prove the Lytton Report in prin-have been well conducted with motor with 50 pouds sprayed intensifies the bitterness with which business, but finally accepted. ciple. Then the Japanese and the help of foreign advisera. against the under side of its platon many judge him today. Opinion Henceforth ha became identified Chinese cases, should be consider-The object of the Lytton plan is, causes a marked increase in power. has suddenly veered from one almost exclusively with the match

extreme to the other. There is no trust. A German railway is studying the labasement like that of the fallen

The China Mail

Hong Kong, Thursday, Nov. 24, 1932.

KOWLOON: Peninsula Hotel Tel. 58081.

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;

#

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FOR DE VALERA.. Discussion is the batter part

*

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Facts You Did Not

Know,

#

News In Brief.

be

so many hard-headed 'men of affairs had such childlike faith that they lent him hundreds of millions with- out even exainining the contracta

Huge Prospects. From those who were present one

CANTON FETES U.S. ADMIRAL. Marshal Entertains Ship's Officers.

Canton, To-day. Admiral M. M. Taylor and his

ed and treated on their merits. in short, to regularize the auto- There is little doubt that, under nomy which Manchuria has in effect of wind force and, direction/idol. this procedure, Japan's aggres-practice long enjoyed, with the on the cost of operating its trains The cold-blooded and cynical may sion in Manchuria would be con. assistance of foreign (not ex-by carrying recording apparatus on say that this earlier conception of gains a striking picture of him at Kreuger was too romantic to the moment when his dream first demned. Having accomplished cluding Japanese) officials. Two some of its locomotives.

true, that the inevitable, disillusion- took possession of him. It was at this important preliminary work points the Report makes ab A metal frame to be locked sement has come and we see at last a dinner given in 1918 to celebrate the League could then strive to solutely clear for the first time curely to a half gallon betile has the real Kreuger who, when he lived, his assumption of the management find a solution which, would be that the Manchukua Govern-been invented to convert it into a was hidden by a heroic mask of his of the new company.

(Continued on Page 7) ment is a sham, and that the pitcher.

own creation. But the Kreuger de- acceptable to all parties, and population, which is predomin

picted in auditors' reports, police proceed to administer some form antly Chinese, hostile to it.' Although India is one of the inquiries, bankruptcy hearings and of reprimand to Japan for her The plan drawn up by the Com-world's largest. producers of sugar by those who knew him best is no

mission would make of Manchu cane, this year's crop being estimat less extraordinary or incredible acts of violation of treaties. As kuo a really, autonomous State ed at 3,880,000 tons, it imports and no less remantle in his way it is, the League is floundering with only nominal dependence, large quantities of sugar each year, than the fictitions Kreuger in whom in a maze of argument and re instead of a really dependent crimination and the prospect of State with an only nominal settlement is remote in the ex-Japanese people may come to Bovereignty. Some day the treme. Japan is holding a pis take the view that the subjuga. A Ford car owned by Mr. B. Eupon which his claims to credit were tol at the League's head by her tion, and the maintenance in Maughan of 9. Ventris Street, base. Both seem absurd and pre- threat of withdrawal and this subjugation, of a hostile popula. Happy Valley was badly damaged by Posterous the contemporary and officers, who came up from Hong tion, living in contiguity with its fire last night. Engines from the the posthumous, the herole and the Kong by the US. Gunboat threat is undoubtedly influencing parent rece, is an unprofitable Central Fire Station were quickly diabolical, the altruistic genius and Isabella on Monday, were en- tertained to an informal luncherm the outlook of many of the mem enterprise. The countries repres on the scene and put out the blaze the cunning rogue. ber nations.

A Tragle Drama.

by Marskal Chan Chi-tong Apprehension at sented on the League of Nations with fre extinguishers.

Kreuger's life, may be divided and Chairman Lam Man-koi, at the problem of punishing so pow. may be wise to follow the exam erful a nation as Japan is pre-ing as lightly as possible on the under two male influences, name tragic drama. Until 1907 he can Consul-General, Mr. J. W. into four fairly clearly defined the Naval Club, on Tuesday. The ple of its Commission by dwell. "Modern housing is developing periods, four acte in a party consisted also of the Ameri judicing a clear consideration of past and concentrating on obly, Increased appreciation of light was a student and s traveller, Ballantine and other members of the Lytton Report. If the taining not all at once, but in afe and hygiene and the collec not particularly distinguish the American Consulate, as well as Japanese expression of their in the long run-s settlement by tivism of modern social life," said

consent. Meanwhile there must Mr. W. H. Owen during a lecture and adventurous youth. From a Marabel Chan briefy proposed

Jable from any other normally alert Chinese officials."inac tentions is to be accepted, the be no more compromise over on architecture before members of Raport meets most of the diff principles, nor need principles be the Institution of Engineers and preparatory school in Kalmar he the health of Admiral Taylor, em went to the Stockholm Technical phasising at the same time the in- culties. When the objects of in any Jeopardy so long as the Shipbuilders yesterday afternoon.

School, where he studied from 1898 timate relations between China and Japanese policy have been fully State of Manchukuo is not re-

to 1900, taking diplomas in mechan the United States. Responding to cognized. Its so-called Cabinet The K. C. dance was such a ical engineering and construction the toast, Admiral Taylor in the exposed, may it not be found is known now to be a collection huge success last month that they He was genial and always ready to proposed the health of his hosts, that they are in fact, compre of ineffective ciphers, The are holding another next Saturday. lend a hand to a comrade and so he while expressing his hope for the hended in the Report, and would population is certified to be con The famous dance band of the Lin- remained throughout his life. Upon continuance, of the relations between In fact be gained by its accentemptuous of them. It is clear colnshire Regiment will provide the finishing his studies he roamed the two countrica, tance? The chief demand of that in working for the ultimate music and one or two novelties are about America, picking up any sort On Tuesday evening, the, Ameri- adoption of the Lytton proposals promised: Prizes will be awarded of job he could, then visited, South can Consul Generat, Mr. Ballantie, Japan is for economic, and

international diplomacy will be ladies in the spot dancas and a Africa and India. By 1907 he was was host to a dinner given in honour pro working for the welfare of the folly evening is anticipated. For back in Stockholm, building in steel of Admiral M M. Taylor and his Corn: Manchuriana, and Japan herself the convenience of Hong Kong re- tainly in the long run sidents attending a late ferry will prefe their prosperity to their leave Kowloon fter the dance discontent, and hostility,

cal security in the vinces. Mhe whole of

mission's proposals are designed m

Ito this end. It is recommended

speculating in officers. Mr. Chikni and Mr. Lam

Cape Mm-kỏi, Chinese officín's, and meme moo of his ac bere of the American Community: can: reconstruat: a were present