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Watauga Democrat
Boone, Watauga County, North Carolina
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Norman H. Davis appointed to lead international effort to untangle Ivar Kreuger's complex global finances after his Paris suicide, aiding investors amid government involvement. Praised for European reputation; compared to simpler Insull structure. Opinion: Davis will succeed. Jan 25, 1933.
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In picking my friend Norman H. Davis to head the international committee which is trying to salvage whatever remains of the wreck of the fortune of Ivar Kreuger, for the benefit of those who invested money in the Swedish financier's schemes, the men of affairs who are interested have picked the one American who has the best reputation in Europe as a financial adviser.
Hundreds of millions of dollars are involved. The financial structure that Samuel Insull erected in Chicago with interlocking and holding companies whose interests overlapped, was simple compared with the great worldwide tangle of Kreuger's affairs, disclosed only after he had committed suicide in a Paris hotel. There is hardly a government which is not in some way involved, no country in which great numbers of investors are concerned in getting the mess straightened out.
I am betting that Norman Davis will untangle it.
JANUARY 25, 1933
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Worldwide
Event Date
January 25, 1933
Story Details
Men of affairs appoint Norman H. Davis to head international committee to salvage Ivar Kreuger's financial tangle after his suicide in Paris hotel, benefiting investors. Davis has best reputation in Europe as financial adviser. Kreuger's worldwide structure more complex than Insull's in Chicago, involving governments and investors everywhere. Writer bets Davis will untangle it.