500 kronor, Kreuger & Toll AB, 1928
Class B share issued by Aktiebolaget kreuger & Toll, with only one thousandth of a vote at the general meeting.
Ivar Kreuger is best known today for the Kreuger crash of 1932, which led to an economic crisis in Sweden.In addition to trying to create monopolies for matchstick manufacturing around the world, Kreuger was involved in arranging loans to war-torn countries in Europe. The money came mainly from the US.
When things went badly for the company, Ivar Kreuger moved money back and forth between different companies, and across national borders. As he was the only one who had full insight, he was able to conceal how bad things were. In 1932, it all came to an end, and Kreuger took his own life. The company AB Kreuger and Toll went bankrupt and the repercussions were extensive.
The balance of power in the banking world changed, and the importance of the Stockholm Stock Exchange was radically reduced. Another effect of the crash was a new Companies Act that came in 1944.
