▁O ls en ▁had ▁clock ed ▁a ▁better ▁time . ▁Tim ing ▁issues ▁on ▁the ▁ 5 0 0   m ▁were ▁a ▁problem ▁within ▁the ▁sport ▁until ▁electronic ▁clock s ▁arrived ▁in ▁the ▁ 1 9 6 0 s ; ▁during ▁the ▁ 1 9 3 6 ▁Olympic ▁ 5 0 0 - met re ▁race , ▁it ▁was ▁suggested ▁that ▁I var ▁Ball ang r ud ' s ▁ 5 0 0 - met re ▁time ▁was ▁almost ▁a ▁second ▁too ▁good . ▁Finland ▁won ▁the ▁remaining ▁four ▁gold ▁med als ▁at ▁the ▁ 1 9 2 4 ▁Games , ▁with ▁Cl as ▁Th un berg ▁winning ▁ 1 , 5 0 0 ▁metres , ▁ 5 , 0 0 0 ▁metres , ▁and ▁all round . ▁It ▁was ▁the ▁only ▁time ▁an ▁all round ▁Olympic ▁gold ▁medal ▁has ▁been ▁awarded ▁in ▁speed ▁sk ating . ▁ ▁Norwegian ▁and ▁Finn ish ▁sk aters ▁won ▁all ▁the ▁gold ▁med als ▁in ▁World ▁Championships ▁between ▁the ▁world ▁wars , ▁with ▁Lat vi ans ▁and ▁Aust ri ans ▁visit ing ▁the ▁pod ium ▁in ▁the ▁European ▁Championships . ▁At ▁the ▁time , ▁North ▁American ▁races ▁were ▁usually ▁conducted ▁pack - style , ▁similar ▁to ▁the ▁mar athon ▁races ▁in ▁the ▁Netherlands , ▁but ▁the ▁Olympic ▁races ▁were ▁to ▁be ▁held ▁over ▁the ▁four ▁IS U - appro ved ▁distances . ▁The ▁IS U ▁approved ▁the ▁suggestion ▁that ▁the ▁ 1 9 3 2 ▁Olympic ▁speed ▁sk ating ▁compet itions ▁should ▁be ▁held ▁as ▁pack