Old Stock Exchange (Frankfurt am Main)
( steel engraving by Wilhelm Lang based on a model by Jakob Fürchtegott Dielmann )
The Old Stock Exchange in Frankfurt am Main was the predecessor of today's Frankfurt Stock Exchange . Its construction from 1840–1843 by Jakob Friedrich Peipers based on plans by Friedrich August Stüler was the first independent structural expression of the Frankfurt stock exchange system, the history of which can be traced back to the late Middle Ages . Due to the rapid growth of the city, it fulfilled its function for less than four decades and was replaced in 1879 by the building in the city center , which still exists today, also known as the Neue Börse .
The building was on Paulsplatz in the old town . Here, east of Paulskirche, with two baroque and three Wilhelminian-style houses (Neue Kräme 1-7 and Paulsplatz 2-8), it formed a separate block between the square in the west and north, the Neue Kräme in the east and Braubachstrasse in the south. The building itself had the addresses Neue Kräme 9 and Paulsplatz 10.
After severe damage from aerial bombs in the air raids on Frankfurt am Main in World War II , the building was demolished in 1952, and the entire former block of houses is now part of an enlarged Paulsplatz and a well-known location for several street cafes. Façade figures, some of well-known sculptors from the 19th century, have recently been reminiscent of the Old Stock Exchange, who have been placed in the entrance area of the Frankfurt Stock Exchange.
history
Preforms of the stock exchange system in the Middle Ages
( copper engraving )
The beginnings of the Frankfurt Stock Exchange are closely related to the trade fairs that flourished in the free imperial city since the high Middle Ages and reached their peak in the early modern period , the 16th and 17th centuries. The Frankfurt Autumn Fair is mentioned for the first time on the Assumption Day in 1150. Measurements were usually not sold in cash, but mostly by credit , where the purchase price was deferred until the next trade fair so that the buyer could obtain the credited purchase price in cash.
As a result, attending the masses became a duty of both creditors and debtors , which for centuries tied the money transactions of the entire Holy Roman Empire to the city. As long as the bill of exchange had not yet been introduced as a transferable and thus tradable security , promissory notes were also issued about it since the 14th century .
From time immemorial, coins were used as means of payment , the minting of which belonged only to the emperor as regalies , but was then gradually pledged to sovereigns and cities. Frankfurt am Main received a restricted right to silver coins from Ludwig the Bavarian in 1346 , an unlimited right in 1428 , and then gold coinage in 1555 .
However, since many sovereigns unscrupulously used the right to mint in order to fill their own treasury , the actually prescribed fineness and thus their purchasing power have steadily decreased since the Middle Ages . Since each territory of the Holy Roman Empire also had its own currency , a wide variety of types of coins were introduced into Frankfurt during the times of the Mass . However, the Council allowed only three from of old outdated Silbermünzsorten to pay, namely from France introduced Turnogroschen , the Brabant lion English and Heller , so the merchants from other parts of the kingdom of their currencies prior to conducting business initially making changeover had.
( oil painting on wood by Marinus Claeszoon van Reymerswaele )
This change of coins was probably the oldest banking business that was cultivated here and came to the city in 1346 as a purely imperial regalie with the restricted right to mint. From now on, goldsmiths in particular were employed as sworn changers on behalf of the council , who were able to achieve very high profit margins due to the lack of recognized variety courses . Attempts by the council at the beginning of the 15th century to institutionalize this business in the form of its own bank failed after the short existence of this second oldest banking house in Europe due to resistance from the rich and influential guilds . It was not until the beginning of the 16th century that the council managed to finally open the exchange business without resistance.
The practice of changing money and mandatory coins became more problematic as the trade fairs became more important. Traditionally, the payments clustered in the second week of measurement, hence also called the payment week. At the time of Martin Luther , payment transactions already amounted to an estimated 300,000 guilders per mass, which prompted him to wager on “the empire's gold and silver hole” . For a long time there were no longer enough “good” coins to be exchanged, so that despite the ban, many low-grade coins ended up in payment transactions. That is why mostly only the money changers knew exactly and thus encouraged fraud. But even with their use, the financial transactions had reached such a level that the cash available for them was no longer sufficient. In structural terms, this promoted the emergence of a stock exchange system through the introduction of measuring controls or Riscontri .
The discount , which at least reduced the aforementioned disadvantages of cash means of payment, could only be carried out orally, which is why it was necessary for all merchants to meet in the same place at the same time. There, the balances kept in books were compared against each other according to a ring system and finally only what remained after the dealers' purchases and sales were settled. When exactly this took place for the first time is naturally difficult to determine. Regular meetings of merchants were mentioned as early as 1567 in an imperial letter to the city council. General notices about the fair were traditionally posted in the Nuremberg court ; in commercial correspondence at the end of the 16th century, the city's most important fair district is also mentioned as the place where significant payments were made.
In addition to merchants, petitioners from nearby and distant cities, princes and even the emperor himself have been appearing since the end of the 13th century at times of measurement, in order to occasionally obtain loans from the capital available. In the Middle Ages, they were issued either in the form of smaller, floating loans or in the form of letters of validity - in the sense of something like fixed-interest, non-cancellable bonds. Due to the church's ban on interest , the interest was included in the monetary amounts. Real goods such as grain, wool or wine often served as collateral, with the emperors, who were always over-indebted, cases have been handed down for other imperial cities where they even had to pledge their crown. Financiers were mostly wealthy patricians, from the 15th century also increasingly Jews, who were excluded from the Christian interest ban, and for a long time the city, which only slipped into the red for the first time in centuries during the Schmalkaldic War, as part of its countermeasures but then also contributed to a further development of the capital market.
In the course of the 15th century, the change in the modern sense - i.e. as a tradable security - was gradually introduced by Italian traders at trade fairs. The European dimension of the business at the beginning of the 16th century became clear from the election of Emperor Charles V , who bought the votes of the German electors for the then immense sum of 851,000 guilders - partly in cash and partly in bills of exchange. Of the documents also arriving from Italy , the banks of which were involved with around 165,000 guilders, there was a 110,000 guilders bill of exchange dated January 5, 1519 from Zaragoza , Spain , payable in Frankfurt by Anton Welser's trading company , the local patrician Jakob Neuhaus redeemed.
From the middle of the 16th century, the trade in these papers quickly passed from the Italians to the hands of Dutch merchants who had come to Frankfurt in the first wave of immigrants. For them there was an almost untapped market, as the stock exchange system had been widespread in their home country since the 15th century and trading in securities that went beyond simple bills of exchange had been common practice at least since the 16th century.
Establishment and development of the stock exchange in the early modern period
1585 is now seen as the founding year of the Frankfurt Stock Exchange, when the cash payment system - as almost always, but this time probably extraordinarily - was chaotic , as foreign coins dominated there, the value of which was not fixed. The still inevitable change of coins led to a heavy loss of profit. Therefore, 84 merchants from all over Europe came together for the autumn fair and decided to set the value of nine types of coin. On September 15th they addressed the council by way of supplication and asked it to see to it that the coin comparison was carried out, which followed this request and threatened violations with a penalty.
From now on the merchants met regularly in order to update the exchange rates in the currency exchange . H. initially at every trade fair. The name "Burß" has been used in writing for this assembly since 1605. From this point in time at the latest, the existence of a year-round stock exchange is assumed, even if an edict of the council did not explicitly refer to bills of exchange until 1639 for the first time, even outside the measurement times. The main reason for the rapid development was the fall of Antwerp in 1585, after which, in a second wave of immigration, an increasing number of Dutch merchants settled in Frankfurt, who no longer pursued traditional trade in goods, but pure bills of exchange. Before it was conquered by the Spaniards, Antwerp was the most important and most progressive stock exchange in Europe.
The prototype of the immigrants' success was Johann von Bodeck , who had come to Frankfurt in 1585 and was soon considered to be the heir of the Fugger and Imhoffs. He could almost exclusively by trading with deposit loans - u. a. The Spanish King Philip II and Emperor Ferdinand II were among his customers - and the business with bills of exchange worked up to Frankfurt's first banker and guilder millionaire until 1630. The scope of his activity grew so strongly that today he is received as one of the essential factors for the expansion of the Frankfurt Stock Exchange to include times outside the trade fairs.
While the stock exchange initially had around two dozen participants, its number rose to around 60 by 1620, and the “Welschen” merchants dominated - one hears more French and Flemish than German, complained a Nuremberg merchant. The development of brokerage shows the changes even more clearly: in 1580 there were nine and exclusively foreigners, in 1589 there were sixty, a further twenty years later almost only locals and also far more bills of exchange than commodity brokers, so the preliminary stage of the modern was already established Stockbroker.
The large number of brokers, with the exception of denominational differences and disputes between internal and foreigners, also had the downside, which soon became confusing and openly accused of fraud. In 1625, after renewed complaints, the first official exchange rate sheet, set under the supervision of the council, appeared, which listed the average exchange rates for twelve types of money. The oldest still existing Frankfurt exchange rate slip dates from 1721 and contains 16 coin courses.
The place of the stock exchange was the square in front of the town hall , in bad weather also the Römerhalle (the vaulted ground floor of the Haus zum Römer that still exists today ) - a file from the Institute for City History from 1616 speaks of the "Borsch vorm Römer" . Christians and Jews had separate assemblies, the latter had to be content with a seat on the other side of the Römerberg, the Saturday mountain.
The passive trading town, which was frequented by merchants from afar, had become an international trading metropolis with far-reaching long-distance trade relationships and an extensive credit system within three decades. Since securities were still unknown, the latter was mainly realized in the form of deposito, where amounts were borrowed against promissory notes - the interest was simply added to the capital due to the church prohibition. After the easing in the course of the Reformation, interest rates were also openly shown in a column with the letter D on the exchange rate slips.
Establishment of the exchange administration
( copper engraving by Matthäus Merian the Elder)
It was not until 1694 that weatherproof trading became possible with the move into the Großer Braunfels house on Liebfrauenberg . Traditionally, however, trading took place under the open sky in the inner courtyard. The core of the building, which dates back to the middle of the 14th century and reached to the west as far as the Kleine Sandgasse (today only Sandgasse ) and was thus one of the most spacious in the city, was sold to the noble Frauenstein society for 15,000 guilders at the time sold. The latter had the building redesigned in Baroque style and immediately rented parts of it for 100 Reichstaler a year to the stock exchange, which opened on Tuesdays and Fridays at 12 noon for one hour each.
At that time, the Frankfurt stock exchange had gained an international rank, many traders only came to the fair to pursue various forms of credit business. At the same time - proof of this is the files available from 1694 onwards - an official stock exchange administration was set up for the first time. It is not unlikely that this existed before, but it cannot be proven either.
During the whole of the 17th century, representatives of the merchant class had already contributed to supplications and even laws on several occasions. For example, in 1652, based on the example of other trading cities, a legal exchange and merchant order was proposed, which a commission with two council deputies, two lawyers and three representatives of the trading class worked out until 1666. This was considered so exemplary that it was sent all over the world in four languages - Dutch, French, Italian and Spanish. The representatives of the merchants who had participated in it were only selected for a special project like this one, a planned appearance is not recognizable, the names of the representatives fluctuate from appearance to appearance in the written documents, especially the second half of the 17th century. Century.
However, as early as 1707, the young stock exchange administration body constituted itself as an official representative of the merchant class on a parity-denominational basis, the deputies of the merchants - the hour of birth of the later Frankfurt Chamber of Commerce . Although the body never had a legal basis, it was tacitly recognized as an authority by the council by publishing the names of its members in the council calendars that appeared from 1734 onwards. On the other hand, due to its semi-official character, the body was not always the last resort for those it actually represented, and so throughout the 18th century there are cases in which the council was repeatedly approached, despite the fact that it was the representative was actually responsible for that.
The eight members of the deputation were always half Protestant and half Reformed . The office was held until death, one member died and the seven remaining deputies elected a new colleague from the merchant class. Its main activity consisted of providing expert opinions on trade customs, and later also on issues relating to coins, customs and transport. In some cases, the reports had a not inconsiderable influence on the legislative process, such as the Brokerage Ordinance passed in 1739, which, at the time, was a revolution, for the first time officially revoked the approval of all foreign brokers and strictly separated the goods from the brokers.
The other function, which was also expressed in the more common designation as stock exchange manager , entailed above all administrative tasks , such as the collection of membership fees, documented in the cash books received from 1718, with which the stock exchange and the meeting room of the deputies in the Großer Braunfels were paid for .
Development in the 18th and early 19th centuries
In the 18th century, the Frankfurt Stock Exchange slowly began to detach itself from its origins, the trade fairs, as the city of Leipzig gradually outstripped them. The emerging absolutist states of Europe adopted modern financial constitutions with orderly tax systems and a national debt system. At the same time there was a wave of royal court and giro banks in many German states as well as countless private banks.
The first Frankfurt banking houses included Johann Goll & Söhne (founded in 1602, liquidated in 1915), D. & J. de Neufville (founded in 1634, part of Johann Goll & Sons from 1721), Johann Friedrich Schmid & Co. (founded in 1732 , Liquidated in 1835), Johann Ludwig Willemer & Co. (founded in 1748, liquidated in 1815) and the Benjamin Metzler seel house that still exists today . Sohn & Co. (active as a bank in 1760 at the latest).
Before the houses mentioned, in the Age of Enlightenment there was one thing above all that paved the way for the Frankfurt stock exchange system to move into the modern era: Bankhaus Bethmann, founded in 1748 and still in existence today. The Bethmanns quickly made a name for themselves by brokering government bonds, especially for the Viennese court. From 1779 onwards, the Metzler family, which was related to the Bethmanns, got into this business and served a. a. In 1792 the Kingdom of Prussia became the first Frankfurt bank.
More of the aforementioned institutes followed, with commissions averaging between 2.5 and 3 percent, the bankers quickly made a fortune given the exploding capital requirement. many splendid old town and garden houses from the late 18th and early 19th centuries, almost all of which were destroyed in the Second World War, gave evidence of this bloom in the cityscape until 1944.
A million dollar bond placed by the Bethmanns for the German Emperor in Vienna in 1779, which was issued by way of partial bonds, was of great importance for the stock exchange. Since these, unlike bills of exchange, had a long term and a large number of shares with the same face value were in round, low amounts, a reasonable price quotation and exchange-based trading were possible for the first time - the securities market was thus established. At the same time as the French Revolution, a political upheaval began in Europe that was to cripple the capital markets for more than two decades.
After the fall of Napoleon in 1815, Frankfurt am Main found itself again as the Free Imperial City of the German Confederation, despite substantial contributions during the period of French occupation, physically and above all as a financial center unscathed. As early as May 1808, the merchants' deputies had turned to Napoleon's majordomo in Frankfurt, Karl Theodor von Dalberg, with a request to set up a management board based on the French model. After just two days, the latter approved the project, the Chamber of Commerce constituted itself as a public corporation on May 7, 1808. The exchange administration was added to a committee to be formed by the Chamber and the 223-year-old "private" exchange thus became the sponsorship of the Chamber of Commerce posed.
In 1811, after almost three and a half centuries of extensive lawlessness in the ghetto, Frankfurt Jews succeeded in buying equality with the rest of the population for the sum of 440,000 guilders - although Karl Theodor von Dalberg had officially announced this in 1806. Now the hour has finally struck for Mayer Amschel Rothschild's banking house, which has been rising rapidly since the end of the 18th century . His five sons sent into the world - only Amschel Mayer von Rothschild stayed in the city - founded a. a. further branches in London, Paris and Vienna. B. the French war indemnity or the British support money was paid to continental Europe. In addition, there was the huge need for government loans to rebuild a devastated Europe, in which the House of Rotschild specialized. As early as 1820, the volume of obligations he had assumed was around 1.2 billion guilders. His information system was also famous - a pigeon post - through which the individual European branches could optimally coordinate their procedures.
Bethmann, Metzler and the like, who from 1820 at the latest - viewed in relative terms - increasingly faded into the background and skilfully turned to special, future-oriented forms of investment such as stocks, custody and industrial bonds, had created the instruments and determined the direction in which the Frankfurters should take The stock exchange should go in the 19th century - public finance. In contrast to other cities, this specialization protected them from the crises that were mainly brought about by the waves of start-ups in the course of industrialization. Now it was the Rothschilds who used the existing instruments and the chosen direction, expanded them internationally and made Frankfurt am Main a world exchange alongside London and Paris.
From the 1820s onwards, more and more questionable forms of business such as lottery and bonus bonds were added to the previous, relatively “safe” securities. On the other hand , a modern security was listed for the first time with the share of the privileged Austrian National Bank . The increasing internationality and thus the interlinking with other stock exchanges, which were by no means all considered as crisis-proof, caused concern. In the still only two hours, spread over two days a week, the parquet was considered to be overrun by soldiers of fortune who were hardly afraid of risk.
For both reasons, 58 banks apply for a daily secondary exchange in the evening hours, which should only be used for securities trading. The city's accounting office refused on the grounds that it would only accelerate “the ruin of the families of reckless men” . Thereupon the bankers founded a college, the statute of which provided for “reading the newspaper, sociable entertainment and any kind of discussion” and was also covered by the Chamber of Commerce when the accounting office asked for an expert opinion on the goals of the association. After a few years in the “underground”, the association officially changed its name in 1838 to a securities partnership , which basically still exists today.
The way to your own stock exchange building
In view of the importance of the Frankfurt Stock Exchange, both the trading hours and the premises in the 19th century were no longer appropriate to the circumstances. Wilhelm Hauff described a Frankfurt stock exchange meeting in 1827 in the communications from the memoirs of Satan as follows:
- "Börsenhalle! Under this name the stranger, who has never seen this facility, imagines a spacious building, as it would be worthy of the city of Frankfurt, with wide halls, side corridors, beautiful portals and the like. But how amazed and smiling when he steps into this stock exchange hall! Imagine a fairly small, paved courtyard, enclosed by unsightly buildings, where one could comfortably groom horses, clean wagons, wash, feed chickens and geese, and do solid domestic work. Instead of the venerable turkey, instead of the chatty chickens and geese, instead of the groom with a broom in his fist, instead of the kitchen lady washing her salad here - one sees a colorful crowd here between twelve and one o'clock at noon; […] At last you become aware of a sign, something like looking at a pub sign; it clearly reads in gold letters: - Börsenhalle. So you are in the stock exchange hall of the free city of Frankfurt; [...] "
In order to do justice to the new facts, Jakob Friedrich Peipers (1805–1878) built the first representative stock exchange building, today called Alte Börse , in the Neue Kräme in 1843 according to plans by the Berlin architect Friedrich August Stüler . The building was also the seat of the Frankfurt telegraph office .
The construction of the stock exchange was part of an early urban redevelopment project in the old town, which was already suspended from the urban development of Frankfurt. The Gothic Barefoot Church, which has been the site of the municipal high school since 1542 , was demolished in 1786. In his place, city architect Johann Georg Christian Hess built the Paulskirche from 1789 , the construction of which lasted until 1833. As the most modern meeting place in the city, it was selected in 1848 as the venue for the Frankfurt National Assembly .
After about 30 years the stock exchange became too small, as the structure of stock exchange trading had changed significantly after the annexation of the Free City of Frankfurt by the Kingdom of Prussia in 1866, but especially after the establishment of the German Empire in 1871. In the past, trading in government bonds had dominated, now equity trading has come to the fore. In 1879 the Frankfurt Chamber of Commerce, responsible for the stock exchange, moved into a new building, which is still known today as the New Stock Exchange in the Neustadt .
Further history and demise
→ For the further history of the Frankfurt stock exchange see: Frankfurter Wertpapierbörse
The old stock exchange was taken over by the Saalbau-Gesellschaft and used as a meeting room. In 1944 the building burned down in a heavy bomb attack. However, pictures by photographer Fred Kochmann in the Institute for City History from 1946 show that the facades were undamaged on all sides and that even some of the vaults of the interior remained intact. In pictures from 1947 you can see severe damage due to insufficient security, in 1952 the ruins were finally removed. Some of the façade figures that have been preserved, some of which have been damaged, and allegorical depictions of the five continents , including one of Europe by the sculptor Johann Nepomuk Zwerger , were recently set up in front of the Neue Börse.
Since the stock exchange moved to the Industriehof in Frankfurt-Hausen in 2000, this building has occasionally been referred to as the "New Stock Exchange" (for example in the name of the neighboring underground station) and the building on the stock exchange as the "Old Stock Exchange".
architecture
Exterior
The late classicist building was a two-storey cube made of red and white sandstone , the building material typical of Frankfurt. On the first floor there were six arcade windows on each of the long sides and five on the transverse sides, above which a circumferential cornice with a tooth cut . The low upper floor also had six or five small, double-leaf windows in each facade. The exchange was covered by a flat roof.
Interior
Inside there was a portico in the Moorish style, the capitals of which were modeled on the Mezquita , the cathedral of Cordoba .
literature
Major works
- Bernd Baehring: Stock market times. Frankfurt in four centuries between Antwerp, Vienna, New York and Berlin. Self-published by the Frankfurt Stock Exchange, Frankfurt am Main 1985, ISBN 3-925483-00-4 .
- Alexander Dietz: Frankfurt trade history. Herman Minjon Verlag, Frankfurt am Main 1910–1925. (5 volumes)
- Chamber of Commerce in Frankfurt a. M. (Hrsg.): History of the Chamber of Commerce in Frankfurt a. M. (1707-1908). Contributions to Frankfurt's trading history. Published by Joseph Baer & Co, Frankfurt am Main 1908.
- Rainer Koch (Hrsg.): Bridge between the peoples - On the history of the Frankfurt fair. Volume III: Exhibition on the history of the Frankfurt trade fair. Historisches Museum / Union Druckerei und Verlag, Frankfurt am Main 1991, ISBN 3-89282-021-X .
- Werner Plumpe: "The pile of the local plot". 200 years of Frankfurt am Main Chamber of Commerce and Industry. Societäts-Verlag, Frankfurt am Main 2008, ISBN 978-3-7973-1083-5 .
- Hans-Otto Schembs: The peoples seek them from far away. The history of the Frankfurt fair. Josef Knecht Verlag, Frankfurt am Main 1985, ISBN 3-7820-0524-4 .
Further used works
- Rudolf Jung, Julius Hülsen: The architectural monuments in Frankfurt am Main - Volume 3, private buildings. Self-published / Keller, Frankfurt am Main 1902–1914.
- Georg Ludwig Kriegk: Frankfurt civil dispute and conditions in the Middle Ages. A contribution to the history of the German bourgeoisie based on documentary research. JD Sauerländer's Verlag, Frankfurt am Main 1862 ( online ).
- Johann Philipp Orth: Extensive treatise of the famous two imperial masses are held annually in the imperial city of Frankfurt am Main, in which many important and strange matters occur and are thoroughly carried out, which at the same time improve the understanding and clarification of German history, statute and civil rights , together with the habits of older, middle and more recent times, can serve with enclosures, at numbers 1 to 85, of many and partly still unprinted imperial letters of freedom, certificates and other messages, also some supplements and registers. Heinrich Ludwig Brönner, Frankfurt am Main 1765 ( online ).
References and comments
- ↑ Hans-Otto Schembs: Far away the peoples seek them. The history of the Frankfurt fair . Josef Knecht Verlag, Frankfurt am Main 1985, ISBN 3-7820-0524-4 , pp. 9-21 u. 55.
- ↑ http://www.boerse-frankfurt.de/de/wissen/geschichte/11-17+jahrhund
- ↑ Alexander Dietz: Frankfurt Trade History - Volume III . Herman Minjon Verlag, Frankfurt am Main 1921, p. 195.
- ↑ Dietz III, p. 197.
- ↑ a b Dietz III, p. 180.
- ↑ a b Dietz III, p. 182.
- ↑ Chamber of Commerce in Frankfurt a. M. (Hrsg.): History of the Chamber of Commerce in Frankfurt a. M. (1707-1908). Contributions to Frankfurt's trading history . Published by Joseph Baer & Co, Frankfurt am Main 1908, p. 4.
- ↑ a b Rainer Koch (ed.): Bridge between the peoples - On the history of the Frankfurt fair. Volume III: Exhibition on the history of the Frankfurt trade fair . Historisches Museum / Union Druckerei und Verlag, Frankfurt am Main 1991, ISBN 3-89282-021-X , p. 128.
- ↑ Georg Ludwig Kriegk: Frankfurt civil dispute and conditions in the Middle Ages. A contribution to the history of the German bourgeoisie based on documentary research . JD Sauerländer's Verlag, Frankfurt am Main 1862, p. 335 u. 336.
- ↑ Alexander Dietz: Frankfurt Trading History - Volume I . Herman Minjon Verlag, Frankfurt am Main 1910, p. 195.
- ↑ a b Chamber of Commerce, p. 5 u. 6; after Orth p. 462 a. 463.
- ↑ Chamber of Commerce, p. 5; According to Johann Philipp Orth: Extensive treatise of the famous two imperial masses are held annually in the imperial city of Frankfurt am Main, in which many important and strange matters occur and are thoroughly carried out, which at the same time provide a better understanding and elucidation of German history, statistic and civil rights, including habits of older, middle and more recent times, can serve with enclosures, at numbers 1 to 85, of many and in part still unprinted imperial letters of freedom, certificates and other messages, also some additions and registers . Heinrich Ludwig Brönner, Frankfurt am Main 1765, p. 398, cited incorrectly, since the corresponding passage in Orth is actually on p. 308 and 309 finds.
- ↑ Koch, p. 129.
- ↑ Chamber of Commerce, p. 6; after Orth p. 481.
- ↑ Chamber of Commerce, p. 7; after Orth p. 373.
- ↑ Chamber of Commerce, p. 7; according to the lower vault files A 66 n58 and A67 n 47 of the Institute for City History (probably burned in 1944).
- ↑ Chamber of Commerce, p. 7; after Richard Ehrenberg: The age of the Fugger. Money capital and credit transactions in the 16th century. Volume 2: The world stock markets and financial crises of the 16th century . Verlag von Gustav Fischer, Jena 1896, p. 246.
- ↑ Dietz III, pp. 208-213.
- ↑ Chamber of Commerce, p. 4 u. 5.
- ↑ Dietz III, p. 202 and 203.
- ↑ Chamber of Commerce, p. 5; after Alexander Dietz: Frankfurter Bürgerbuch. Historical reports about 600 known Frankfurt families from the time before 1806 . August Osterrieth, Frankfurt am Main 1897, p. 144.
- ↑ Baehring, p. 26 and 27; Accordingly, a large stock exchange building was erected in Antwerp as early as 1460, and promissory notes from princes and entire states were already being traded around 1550, and 1602 shares in the Dutch East India Company were already being traded in Amsterdam.
- ↑ Chamber of Commerce, p. 25; the holding of the stock exchange in the building before 1710, where it is first mentioned in a document as the place of the stock exchange (according to Chamber of Commerce, p. 61 lower vault file C 26 mm, probably burned in 1944), can therefore only be indirectly proven by the fact that the oldest files of the Stock exchange manager, containing parer concepts, began in 1694, when the great Braunfels moved into the hands of the Frauenstein company and was rebuilt by them.
- ^ Rudolf Jung, Julius Hülsen: The architectural monuments in Frankfurt am Main - Volume 3, private buildings . Self-published / Keller, Frankfurt am Main 1902–1914, p. 63.
- ↑ Chamber of Commerce, p. 19 u. 20; probably according to the oldest cash books on the stock exchange.
- ^ Wilhelm Hauff: Mittheilungen from the memoirs of Satan. Second part . Franckh Brothers, Stuttgart 1827, pp. 245–247. on-line
Web links
- Deutsche Börse Group - History of the Frankfurt Stock Exchange
- War ruins - the old stock exchange on Paulsplatz. altfrankfurt.com
Coordinates: 50 ° 6 ′ 40.7 " N , 8 ° 40 ′ 53.5" E