Nordwolle wool combine collapses
Citations (1)
- Lords of Finance whole source · open book
On June 17, the Norddeutsche Wolkkammerei—“Der Nordwolle,” a large German wool combine—declared bankruptcy, revealing losses amounting to $50 million, which it had managed to conceal by transferring its inventory at bloated prices to its Dutch subsidiary.
chapter: 19. A LOOSE CANNON ON THE DECK OF THE WORLD - 1931