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Events on Thursday 31 May 1923 2
1923First Pepsi bankruptcySugar speculation ruins Bradham — May 31, 1923Pepsi-Cola declared bankruptcy on May 31, 1923. Caleb Bradham had gambled heavily on sugar during WWI, buying large stocks anticipating rising prices. When sugar crashed from 28 cents to 2 cents per pound, the company collapsed. Assets were sold to a North Carolina concern for $30,000.
1923 – 2005Prince Rainier III (1923-2005)Died 6 April 2005, aged 81Prince Rainier III of Monaco, who ruled the principality for 56 years and transformed it into a wealthy tourist and financial centre, died on 6 April 2005. He was married to American actress Grace Kelly from 1956 until her death in 1982. Rainier was succeeded by his son, Prince Albert II.