THE HISTORY OF TUNGSRAM 1896-1945 - MEK

TUNGSRAM 58(i)(ii)(iii)(iv)the plan(a subjective estimate)bonds (based on actualStock Exchanges figures)stocks (without remainders)debtors (less the creditorssetting up a pension fund7,000,00018,235,00018,235,0006,596,00012,209,000*y,vA grand total of44,040,000The final figure shows that the actual value of the412,500 TUNGSRAM shares was 44 million Pengos in1929. This implied that the shares having a nominalvalue of 40 Pengos were worth 106.5 Pengos each, orto put it in other way, they feched 250 percent of theirnominal value!Just before the worldwide depression of 1929—1933TUNGSRAM was in a very strong financial position.This fact greatly helped the company to survive theyears of Depression without serious shocks. In fact, thecompany made use of the slump in the housingindustry and heavily invested in construction works.Building No. 34 was designed in 1928 and the constructionof several buildings took place in 1930—1931. These developments have determined the factory'simage right until the latest times.Building No. 36, the Research Laboratory and theRecreation Centre were all built in this period. Thecompany even had reserves to exploit the gravefinancial situation of its old adversary, the Kremenetzkyfactory, and by pressing the Viennese companyinto a deal, TUNGSRAM was able to improve itspositions both in the incandescent lamp cartel and onthe domestic market.^'^Kvy• • ^ « .• - ' * •