The second largest insurance company in Europe ended its existence last week with an announced loss of nearly $80,000,000. Viennese, nervously watching from the sidelines the Ethiopian crisis and the German crisis, suddenly realized that another bomb for the peace of Europe was ticking away at their very feet.

No connection with the U. S. Phoenix Insurance Co. is the equally important Vienna Phoenix Life Insurance Co., known throughout Central Europe as "Phönix-Wien." Founded in 1882, it established branches throughout the empire, grew prosperous. The break-up of the old Austrian empire did...

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