Erlanger & Sons

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Coat of arms of the barons of Erlanger

The Erlanger & Söhne banking house was a leading German private bank in Frankfurt am Main in the 19th century with branches in Vienna and Paris. The bank, founded in 1848, was taken over by Dresdner Bank in 1904 , which then formed the basis of its Frankfurt branch.

Members of the Erlanger family also founded the Emile Erlanger & Cie (Paris) banking house in 1859, which later became the Merchant Bank Emil Erlanger & Co. (London), which was renamed Erlanger Ltd. from 1928 . traded and after a merger from 1958 to 1965 as Philip Hill Higginson Erlanger Ltd. occurred.

history

In 1848 Raphael Erlanger (1806–1878, since 1859 Raphael von Erlanger) founded his own banking and exchange business in Frankfurt am Main , after having acquired extensive specialist knowledge and business contacts as a dispatcher in the Rothschild family's Frankfurt headquarters . Erlanger quickly developed into serious competition for the Frankfurt Rothschilds. In 1859 Raphael Erlanger was awarded the title of Portuguese baron for life for his services to the Kingdom of Portugal . After his sons Friedrich Emil Erlanger (1832–1911), Ludwig Gottlieb Friedrich Erlanger (1836–1898) and Viktor Alexander Erlanger (1840–1894) entered his father’s banking business, Erlanger changed the name of his bank to von Erlanger & Sons in 1865 . Following the example of the Rothschilds, Raphael Erlanger set up his own branches in Vienna , Paris (1859) and London (1870).

Most private banks met the joint stock banks, which had emerged since the middle of the 19th century, with great suspicion. Erlanger & Söhne, however, was open to this development. So it took over the interests of the French stock bank Société Générale du Crédit Mobilier in Frankfurt am Main and created a syndicate of respected German banks to work with this institute. Following the example of Société Générale du Crédit Mobilier, Erlanger & Söhne also participated in the establishment of a number of public banks. These include u. a. the:

Interim share of the Schwarzburgische Landesbank Sonderhausen dated July 1, 1878, issued to Erlanger & Söhne

Erlanger & Söhne's leading role in setting up such banks not only brought them seats on the supervisory boards of the respective banking institutions. This also ensured that the new banks would conduct a lot of business through Erlanger & Söhne at least in the first few years after they were founded.

In the business with stocks and bonds , Erlanger & Sons specialized in banks, railways and foreign bonds . So could Erlanger & Sons , a late 1850s incipient trade and monetary crisis of Sweden finish by a bond and has since been the banker of the Scandinavian governments. In 1862, Erlanger & Sons, together with the Sulzbach Brothers banking house , brought Egypt's first bond onto the market. Erlanger & Söhne also successfully listed the shares in Weimarische Bank, which Erlanger was involved in establishing in 1853, on the Frankfurt Stock Exchange .

After the German-Danish War in 1864, Erlanger & Sons bought the strategically important railway lines in Schleswig-Holstein from the English railway contractor Sir Samuel Morton Peto (1809–1889) on behalf of Bismarck . During the American Civil War (1861-1865) Erlanger represented the economic interests of the southern states , in stark contrast to the other Frankfurt bankers who sided with the northern states . In March 1864 Erlanger & Sons issued a loan of £ 3 million sterling for the southern states , which was secured by cotton ("cotton loan ").

Erlanger & Söhne achieved an excellent reputation with the issue of shares in the Austrian k.k. State Railways (kkStB) on the Frankfurt Stock Exchange. This and the rescue of the Thurn und Taxis family's fortunes, which were entangled in the collapse of the Belgian speculator André Langrand-Dumonceau (1826–1900), brought the Erlanger family in 1871 the Austrian baron .

In 1904 Erlanger & Sons was taken over by the major bank Dresdner Bank , which formed the basis of their Frankfurt branch. One reason for this is probably the relatively early death of Ludwig Gottlieb Friedrich von Erlanger (1836–1898), Viktor Alexander von Erlanger (1840–1896) and Carlo von Erlanger (1872–1904). But also the ever tougher competition from big banks, the increasingly stricter stock exchange legislation in the eighties and nineties of the 19th century and the gradual shift of the economic focus of the German Empire from Frankfurt am Main to Berlin are likely to have moved the Erlanger family to their Frankfurt parent company for sale.

However, the Erlanger family's banks in Paris and London continued to exist. Emil Erlanger & Co. (London) also emerged from the Emile Erlanger & Cie (Paris) banking house founded by Frédéric Emile Baron d'Erlanger in 1859 . In particular, the Erlanger family's English banking activities developed successfully into a merchant bank , first under the management of Emile Beaumont Baron d'Erlanger (1866–1939) and after his death under the leadership of Leo Frédéric Alfred Baron d'Erlanger (1898– 1978). The bank first operated under the name Emil Erlanger & Co. , since 1928 under the name Erlanger Ltd. In 1958 this was taken over by the Merchant Bank Philip Hill Higginson & Co. , also based in London , under the leadership of their partner Kenneth Keith , which was then renamed Philip Hill Higginson Erlanger Ltd. occurred. The name Erlanger only disappeared in 1965 when Keith merged the bank with the financial company M. Samuel to form Philip Hill Higginson Erlanger and the merged company took on the name Hill Samuel . A successor company registered in 1971, Philip Hill Higginson Erlangers Ltd , was unsuccessful.

Main list of those from Erlanger

  • Löb Moses, later Ludwig Moritz Erlanger (1780–1857 in Frankfurt / M.), Broker
    • Raphael von Erlanger (1806–1878), Frankfurt politician and banker, founder of the Erlanger & Sons banking house , ⚭ I) Margarethe Helene Albert, ⚭ II) Ida Maria Albert (daughters of the mechanic Johann Valentin Albert )
    • Marx Erlanger, later Christian Wilhelm Maximilian Erlanger, music director in Frankfurt am Main

literature

  • Emden, Paul Heinrich: “Money Powers of Europe in the Nineteenth and Twentieth Centuries”, D. Appleton-Century Company, New York 1938;
  • Franz Lerner:  Erlanger, Raphael Freiherr von. In: New German Biography (NDB). Volume 4, Duncker & Humblot, Berlin 1959, ISBN 3-428-00185-0 , p. 593 ( digitized version ).
  • Jurk, Michael: "The other Rothschilds: Frankfurt private bankers in the 18th and 19th centuries", p. 46 published in: Heuberger, Georg: "The Rothschilds - Contributions to the History of a European Family", Jan Thorbecke Verlag, Frankfurt am Main 1995 , ISBN 3-7995-1202-0 .
  • Kirchholtes, Hans-Dieter: "Jewish private banks in Frankfurt am Main", Waldemar Kramer publishing house, Frankfurt am Main 1989, ISBN 3-7829-0351-X .
  • Meleghy, Gyula: “The intermediary role of the banks in German investments in North and Central America up to the First World War”, Inaugural dissertation , Cologne 1983
  • Morten Reitmayer: "Bankers in the Empire - Social Profile and Habitus of German High Finance" (= " Critical Studies in History ", Volume 136). Vandenhoeck & Ruprecht, Göttingen 1999, ISBN 3-525-35799-0 .

Web links

Commons : Erlanger family  - collection of images, videos and audio files

References and comments

  1. ↑ Kirchholtes, Hans-Dieter: "Jewish private banks in Frankfurt am Main", Verlag Waldemar Kramer, Frankfurt am Main 1989, pp. 33f., ISBN 3-7829-0351-X
  2. ^ Norbert G. Klarmann: "Entrepreneurial design possibilities of the private banker in the 19th century (illustrated using the example of the house of Erlanger & Sons)", in Hans Hubert Hofmann: "Bankherren und Bankiers", p. 31, CA Starke Verlag, Limburg an der Lahn 1978
  3. ↑ Kirchholtes, Hans-Dieter: "Jewish private banks in Frankfurt am Main", Verlag Waldemar Kramer, Frankfurt am Main 1989, pp. 33f., ISBN 3-7829-0351-X
  4. ↑ Jurk, Michael: "The other Rothschilds: Frankfurter Privatbankiers in the 18th and 19th centuries", p. 44 published in: Heuberger, Georg: "The Rothschilds - Contributions to the History of a European Family", Jan Thorbecke Verlag, Frankfurt am Main 1995, ISBN 3-7995-1202-0
  5. ^ Franz Lerner:  Erlanger, Raphael Freiherr von. In: New German Biography (NDB). Volume 4, Duncker & Humblot, Berlin 1959, ISBN 3-428-00185-0 , p. 593 ( digitized version ).
  6. ^ Norbert G. Klarmann: "Entrepreneurial design possibilities of the private banker in the 19th century (illustrated using the example of the house of Erlanger & Sons)", in Hans Hubert Hofmann: "Bankherren und Bankiers", p. 40ff., CA Starke Verlag, Limburg an der Lahn 1978
  7. ^ Emden, Paul Heinrich: "Money Powers of Europe in the Nineteenth and Twentieth Centuries", D. Appleton-Century Company, New York 1938, p. 208.
  8. ^ Emden, Paul Heinrich: "Money Powers of Europe in the Nineteenth and Twentieth Centuries", D. Appleton-Century Company, New York 1938, p. 398.
  9. ^ Franz Lerner: Erlanger, Raphael Freiherr von. In: New German Biography (NDB). Volume 4, Duncker & Humblot, Berlin 1959, ISBN 3-428-00185-0 , p. 593
  10. ^ Kirchholtes, Hans-Dieter: "Jewish private banks in Frankfurt am Main", Verlag Waldemar Kramer, Frankfurt am Main 1989, p. 52, ISBN 3-7829-0351-X
  11. ↑ Jurk, Michael: "The other Rothschilds: Frankfurter Privatbankiers in the 18th and 19th centuries", p. 46 published in: Heuberger, Georg: "The Rothschilds - Contributions to the History of a European Family", Jan Thorbecke Verlag, Frankfurt am Main 1995, p. 49, ISBN 3-7995-1202-0
  12. ^ Emden, Paul Heinrich: "Money Powers of Europe in the Nineteenth and Twentieth Centuries", D. Appleton-Century Company, New York 1938, p. 398.
  13. ^ John Orbell: British Banking: A Guide to Historical Records
  14. ^ Kirchholtes, Hans-Dieter: "Jewish private banks in Frankfurt am Main", Verlag Waldemar Kramer, Frankfurt am Main 1989, p. 52, ISBN 3-7829-0351-X
  15. ↑ companycheck.co.uk