The Kreuger Affair It is no longer possible to doubt
that Isar Krmger, the promoter of the international match combine, bad practised fraud and forgery on a large scale in order to inspire confidence in his ventures. The Swedish authorities have found among his papers a forged contract for a Spanish loan of 180,000,000 pesetas, and forged Italian Treasury bills of the nominal value of t21,000,000. all of which were credited as assets in the books of Kreuger and Toll. The late financier had, in fact, adopted the same methods as Hatry, who forged Corporation scrip on which he raised loans front his bankers and others. Three of Krcuger's confidential agents have been arrested in Stockholm, and further disclosures will doubtless follow. The business was so large and interested so many countries, through the monopolies which it held in return for loans, that the task of unravelling its affairs must be long and difficult. But it is clear that. the shareholders will lose very heavily, and that such inter- national enterpris:•s will hereafter he viewed with suspicion.
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