THE STINNES TRUST.

Hokitika Guardian, 21 July 1925, Page 3

THE STINNES TRUST.

WIDOW SEEDS OUT. [Australia A N.Z. Cable Association.] LONDON. July JO. The “ Daily Chronicle's'’ Uerlni correspondent stales tiial when Hugo Slinnes died, lie controlled 11188 concerns. The vast trust lias now been pulled down in a few days, by Frau Stinnes, bis widow, who with an iron nerve and determination, has laid low the 'Tower of Ikibcl. which her husband had erected, selling desperately in order to rescue, a little from the wreck. Her two sons proved quite incapable of carrying on their lather's business. Under I l 'ran Stinnes’s orders hundreds of concerns, big and little, have been .sold at bargain prices, including cigbl million marks worth of shares in tin* Berlin Haiidol.sgessellssghart, which have been of immense value when the Trust required credit. These shares had become worth thirteen million marks but Fruit Stinnes has sold them for ten million. The Bank, therefore, has shaken off its undesirable Stinnes interest, and has made a profit of three million marks. The RhinehtndWestphalia Electricity Works, of which Stinnes was especially proud, were sold to ft rival firm called the United Industries Undertakings, fit a bankrupt stock price, though their nominal capital was valued fit six million sterling. The Stinnes Company for trading in the East will lie closed down, as also will he the Russian Trading Department. The Stinnes Shilling Janes will be sold to American and Herman concerns. The palatini offices of the “ Deutsche Allgermainc Zeitung ” were sold at an amazingly low figure. The Prussian Government has bought large portions of the Stinnes Trust's landed estiil.es. Practically the whole trust, except a few iron and coal interests, has been broken up. It was too complicated for anyone to control except a master mind.