Ernst Victor Engwall was able to fund the family's projects through the bank. After Ernst became vice-chairman, the Engwall family saw rapid growth, financing Borgarskolan,[3] as well as the construction of Gevaliapalatset.[4]
The Engwalls involvement with Rettig, Berggren, and Ericson during the 20th century has since been scrutinized due to monopolistic business practices.[5]
In 1905, Importbolaget Vict. Th. Engwall Co was restructured and benefited from the colonial frenzy of the early 20th century. In 1913, Ernst Engwall oversaw the acquisition of the first coffee roasting machine.[3]
In 1915, Ernst Victor Engwall passed away. Under Ernst leadership The business expanded beyond a trading house, and ventured into various industries, including mills and a shipping company.[3] One notable vessel acquired by Vict. Th. Engwall Co under his leadership was named Gevalia, the Latin name for Gävle. The Engwalls coffee brand Gevalia was named after the vessel.[3]
References
12Ernst Victor Engwall. i Alrik Drakenberg, Svenskt porträttgalleri (1903), volym XIX. Bankmän.