Echoes from the Past

> One day in January 1930, a swindler named Clarence Charles Hatry stood at the bar of London's Old Bailey, heard himself convicted of "one of the most appalling frauds which ever disfigured the commercial reputation of this country." The collapse of Promoter Hatry's $10,000,000 forged bond bubble in September 1929 had sapped confidence in The City, helped to precipitate the U. S. stockmarket crash, and hastened worldwide Depression. Hatry was sentenced to 14 years in prison, two -of them at hard labor. Last week, having served nine years of his sentence and having impressed Home Secretary Sir Samuel Hoare with his model conduct, Swindler Hatry walked free.

> One morning in March 1932, a swindler named Ivar Kreuger lay on his bed in a Paris apartment, put a bullet through his heart. Kreuger & Toll's subsequent collapse sapped confidence in financial wizardry, helped to precipitate Roosevelt reforms. Last week Kreuger & Toll's U.S. ,estate paid its final dividend to claim-holders, bringing its total payments to $2,743,582. With payments by the Swedish estate, the burnt-up Match King's burnt-up creditors have so far collected a scant $22.000,000 out of original claims of $296,000,000.

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