Danat-Bank: Difference between revisions
Content deleted Content added
m Boubloub moved page Danatbank to Danat-Bank: More customary name |
No edit summary Tags: Mobile edit Mobile web edit |
||
| (10 intermediate revisions by 5 users not shown) | |||
| Line 1: | Line 1: | ||
{{Short description|Former |
{{Short description|Former German bank}} |
||
{{Use dmy dates|date=March 2014}} |
{{Use dmy dates|date=March 2014}} |
||
{{Infobox company |
{{Infobox company |
||
| name = |
| name = |
||
| logo = |
| logo = |
||
| logo_size = |
| logo_size = |
||
| |
| logo_caption = |
||
| image = File:Bundesarchiv Bild 183-2007-0307-500, Berlin, Schinkelplatz, Danat-Bank.jpg |
|||
| image_caption = Head office at [[Schinkelplatz]] 1–4 in [[Berlin]], photographed in 1931 (destroyed in World War II) |
|||
| type = [[Aktiengesellschaft]] |
| type = [[Aktiengesellschaft]] |
||
| traded_as = |
| traded_as = |
||
| Line 40: | Line 42: | ||
}} |
}} |
||
The '''''Darmstädter und Nationalbank''''', in shorthand '''Danat-Bank''' or '''Danatbank''', was a large German joint-stock bank. It was formed in 1922 from the merger of the Bank für Handel und Industrie (Darmstadt), known as [[Darmstädter Bank]], and the [[Nationalbank für Deutschland]]. Its failure in July 1931 was a significant episode of the [[European banking crisis of 1931]].<ref>{{cite book |first=Karl Erich |last=Born |title=Die deutsche Bankenkrise 1931: Finanzen und Politik |location=München |publisher=Piper |year=1967 |language=de}}</ref><ref>{{cite book |first=Manfred |last=Pohl |title=Konzentration im deutschen Bankwesen (1848–1980) |location=Frankfurt am Main |publisher=Knapp |year=1982 |isbn=978-3-7819-0269-5 |language=de}}</ref><ref name=Schnabel>{{citation |title=The German Twin Crisis of 1931 |author=Isabel Schnabel |journal=Journal of Economic History |date=2004 |volume=64:3 |issue=3 |pages=822–871 |publisher=Cambridge University Press, on behalf of the Economic History Association |jstor=3874821 |url=https://www.jstor.org/stable/3874821 }}</ref> |
|||
The '''Darmstädter und Nationalbank''' (short form '''Danat-Bank''') was a German bank. |
|||
== |
==Overview== |
||
[[File:Darmstaedter und nationalbank.jpg|thumb|left|150px|Seal of Danat-Bank's branch in [[Leipzig]]]] |
|||
The Darmstädter und Nationalbank was formed in 1922 from the merger of the Bank für Handel und Industrie (Darmstadt) and the [[Nationalbank für Deutschland]]. |
|||
| ⚫ | |||
| ⚫ | |||
| ⚫ | In 1920/1921, the ''Darmstädter Bank für Handel und Industrie'' and the ''Nationalbank für Deutschland'' formed the bank union ''Darmstädter-Nationalbank Berlin''. Both banks assumed a joint guarantee of capital and reserves of over 1 billion marks. The merger was fully completed in 1922, resulting in one of the largest commercial banks in Germany. |
||
[[File:DA-Am-Alten-Bahnhof6.jpg|thumb|Former building of the Darmstädter Bank für Handel und Industrie in Darmstadt]] |
|||
By 1930, Danat-Bank had become Germany's second-largest joint-stock bank, with total deposits of 2.4 billion Reichsmarks ahead of [[Dresdner Bank]] (2.3 billion), [[Commerz- und Privatbank]] (1.5 billion), [[Reichs-Kredit-Gesellschaft]] (619 million), and [[Berliner Handels-Gesellschaft]] (412 million), and only behind [[Deutsche Bank|Deutsche Bank & Disconto-Gesellschaft]] (4.8 billion).<ref name=Whale>{{citation |url=https://socialsciences.mcmaster.ca/econ/ugcm/3ll3/whale/JointStockBankingGermany.pdf |title=Joint Stock Banking in Germany: A Study of the German Creditbanks Before and After the War |author=P. Barrett Whale |year=1930}}</ref>{{rp|354}} In the [[European banking crisis of 1931]], however, Danat-Bank suffered a run which started around 17 June due to rumours of the insolvency of the Norddeutsche Wollkämmerei & Kammgarnspinnerei (North German Wool and Worsted Yarn Spinning Works), finally going bankrupt on 13 July 1931. It was thus one of the most prominent victims of [[deflation]] in Germany during the [[Great Depression]]. |
|||
The ''Darmstädter Bank für Handel und Industrie'' (often called ''Darmstädter Bank'') was founded as the ''Bank für Handel und Industrie'' by [[Gustav von Mevissen]] and [[Abraham Oppenheim]] with a capital of 25 million guilders and modelled after the French bank [[Crédit Mobilier]]. It received a banking concession on 2 April 1853.<ref>[http://www.zeno.org/Brockhaus-1911/A/Bank+f%C3%BCr+Handel+und+Industrie Brockhaus' Kleines Konversations-Lexikon, fünfte Auflage, Band 1. Leipzig 1911., S. 149.], downloaded on 1 April 2009</ref> It was thus the second universal bank in Germany founded as a company limited by shares ([[Aktiengesellschaft]]), after the [[A. Schaaffhausen'scher Bankverein]]. In 1873 the bank moved its headquarters to Berlin, having opened a branch there in 1871. Further branches were opened in Stettin (1900), Hannover (1901), Düsseldorf, Munich and Nuremberg (1910). In 1913, the ''Darmstädter Bank'' took over the [[Breslauer Disconto-Bank]], and during the inflation years between 1918 and 1921, it opened many more branches across Germany. |
|||
| ⚫ | The collapse of Danatbank triggered a loss of confidence in the German banking system, and let loose a wave of withdrawals from all other banks beginning the German Banking Crisis. In reaction, the government announced a Bank Holiday starting on 13 July, imposed further capital controls and forced the merger of Danatbank with [[Dresdner Bank]]. {{citation needed|date=May 2013}} |
||
== Danat-Bank == |
|||
[[File:Bundesarchiv Bild 183-H28575, Berlin, Schinkelplatz, Danat-Bank.jpg|thumb|Berlin 1925, The headquarters of the „Darmstädter und Nationalbank" at [[Schinkelplatz]] Nr. 1–4]] |
|||
| ⚫ | |||
| ⚫ | |||
==Key individuals== |
|||
| ⚫ | In 1920/1921, the ''Darmstädter Bank für Handel und Industrie'' and the ''Nationalbank für Deutschland'' formed the bank union ''Darmstädter-Nationalbank Berlin''. Both banks assumed a joint guarantee of capital and reserves of over 1 billion marks. The merger was fully completed in 1922, resulting in one of the largest commercial banks in Germany. |
||
| ⚫ | The collapse of Danatbank triggered a loss of confidence in the German banking system, and |
||
== Well known figures == |
|||
Well-known bankers of the Danatbank and its predecessors are (in alphabetical order): |
Well-known bankers of the Danatbank and its predecessors are (in alphabetical order): |
||
* [[Siegmund Bodenheimer]] |
* [[Siegmund Bodenheimer]], Manager of Darmstädter Bank 1910–1922, shareholder 1922–1931 |
||
* [[Bernhard Dernburg]] |
* [[Bernhard Dernburg]], Manager of Darmstädter Bank 1901–1906 |
||
* [[Jakob Goldschmidt]] |
* [[Jakob Goldschmidt]], Shareholder 1922–1931 |
||
* [[Johannes Kaempf]] |
* [[Johannes Kaempf]], Branch director of the ''Bank für Handel und Industrie in Berlin'' and Reichstags-President |
||
* [[Hjalmar Schacht]] |
* [[Hjalmar Schacht]], Shareholder 1922–1923 |
||
* [[Georg von Simson]] |
* [[Georg von Simson]], Shareholder bis 1929 |
||
* [[Richard Witting]] |
* [[Richard Witting]], Director (1902–1910) and board member (1911–1922) of the Nationalbank, board member of Danatbank |
||
== References == |
== References == |
||
{{Reflist}} |
{{Reflist}} |
||
== Further reading == |
|||
* {{cite book |first=Karl Erich |last=Born |title=Die deutsche Bankenkrise 1931: Finanzen und Politik |location=München |publisher=Piper |year=1967 |language=de}} |
|||
* {{cite book |first=Manfred |last=Pohl |title=Konzentration im deutschen Bankwesen (1848–1980) |location=Frankfurt am Main |publisher=Knapp |year=1982 |isbn=978-3-7819-0269-5 |language=de}} |
|||
* {{cite journal |last=Schnabel |first=Isabel |author-link=Isabel Schnabel |title=The German Twin Crisis of 1931 |journal=[[Journal of Economic History]] |volume=64 |issue=3 |year=2004 |pages=822–871 |doi=10.1017/S0022050704002980 }} |
|||
== External links == |
== External links == |
||
Latest revision as of 14:02, 10 February 2024
 | |
 Head office at Schinkelplatz 1–4 in Berlin, photographed in 1931 (destroyed in World War II) | |
| Company type | Aktiengesellschaft |
|---|---|
| Industry | Banking |
| Predecessor | Bank für Handel und Industrie  |
| Founded | 1922 |
| Defunct | 1931 |
| Successor | Dresdner Bank |
| Headquarters | |
The Darmstädter und Nationalbank, in shorthand Danat-Bank or Danatbank, was a large German joint-stock bank. It was formed in 1922 from the merger of the Bank für Handel und Industrie (Darmstadt), known as Darmstädter Bank, and the Nationalbank für Deutschland. Its failure in July 1931 was a significant episode of the European banking crisis of 1931.[1][2][3]
Overview
[edit]
In 1920/1921, the Darmstädter Bank für Handel und Industrie and the Nationalbank für Deutschland formed the bank union Darmstädter-Nationalbank Berlin. Both banks assumed a joint guarantee of capital and reserves of over 1 billion marks. The merger was fully completed in 1922, resulting in one of the largest commercial banks in Germany.
By 1930, Danat-Bank had become Germany's second-largest joint-stock bank, with total deposits of 2.4 billion Reichsmarks ahead of Dresdner Bank (2.3 billion), Commerz- und Privatbank (1.5 billion), Reichs-Kredit-Gesellschaft (619 million), and Berliner Handels-Gesellschaft (412 million), and only behind Deutsche Bank & Disconto-Gesellschaft (4.8 billion).[4]: 354 In the European banking crisis of 1931, however, Danat-Bank suffered a run which started around 17 June due to rumours of the insolvency of the Norddeutsche Wollkämmerei & Kammgarnspinnerei (North German Wool and Worsted Yarn Spinning Works), finally going bankrupt on 13 July 1931. It was thus one of the most prominent victims of deflation in Germany during the Great Depression.
The collapse of Danatbank triggered a loss of confidence in the German banking system, and let loose a wave of withdrawals from all other banks beginning the German Banking Crisis. In reaction, the government announced a Bank Holiday starting on 13 July, imposed further capital controls and forced the merger of Danatbank with Dresdner Bank. [citation needed]
Key individuals
[edit]Well-known bankers of the Danatbank and its predecessors are (in alphabetical order):
- Siegmund Bodenheimer, Manager of Darmstädter Bank 1910–1922, shareholder 1922–1931
- Bernhard Dernburg, Manager of Darmstädter Bank 1901–1906
- Jakob Goldschmidt, Shareholder 1922–1931
- Johannes Kaempf, Branch director of the Bank für Handel und Industrie in Berlin and Reichstags-President
- Hjalmar Schacht, Shareholder 1922–1923
- Georg von Simson, Shareholder bis 1929
- Richard Witting, Director (1902–1910) and board member (1911–1922) of the Nationalbank, board member of Danatbank
References
[edit]- ^ Born, Karl Erich (1967). Die deutsche Bankenkrise 1931: Finanzen und Politik (in German). München: Piper.
- ^ Pohl, Manfred (1982). Konzentration im deutschen Bankwesen (1848–1980) (in German). Frankfurt am Main: Knapp. ISBN 978-3-7819-0269-5.
- ^ Isabel Schnabel (2004), "The German Twin Crisis of 1931", Journal of Economic History, 64:3 (3), Cambridge University Press, on behalf of the Economic History Association: 822–871, JSTOR 3874821
- ^ P. Barrett Whale (1930), Joint Stock Banking in Germany: A Study of the German Creditbanks Before and After the War (PDF)
External links
[edit]- Documents about Danatbank in the German National Library
- Documents and clippings about Danat-Bank in the 20th Century Press Archives of the ZBW
49°52′26″N 8°38′31″E / 49.8739°N 8.6419°E
| International | |
|---|---|
| National | |