Jacob SH star

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The Jacob SH Stern banking house was one of the leading German-Jewish banking houses in Frankfurt am Main in the 19th and early 20th centuries .

history

The Jacob SH Stern banking house emerged from the wine shop founded by Samuel Hayum Stern (1760-1819) in 1778 in Frankfurt's Judengasse . He had two children, Jacob Samuel Hayum (1780-1833) and Caroline (1782-1854). The latter married Baron Salomon Meyer von Rothschild in 1800 . Jacob Samuel Hayum Stern founded his own wine shop in 1799, called Jacob Stern . Following the example of many other Christian and Jewish trading houses, Jacob Samuel Hayum Stern gradually converted his trading business into a bank from 1805. This began with the financing of customers and suppliers of his wine shop and was so successful that finally the money transactions outstripped the goods trade. In its further development, the bank specialized in issuing securities . After his father's death in 1819, he took over his wine business and merged it with his own company. He named the combined company Jacob SH Stern .

Following the example of the Rothschild family , Jacob Samuel Hayum Stern's sons founded branches abroad: Abraham (Anton) Jakob Stern (1805–1885) and Leopold Stern (1810–1846) founded AJ Stern & Cie. In 1832 . in Paris , David Stern (1807–1877) and Hermann Stern (1815–1887) founded Stern Brothers in London in 1844 . Another son, Julius Jacob Stern (1807–1852), settled as a banker in Berlin . The eldest son, Wolf Jacob Stern (1800–1854), continued to run the parent company, Jacob SH Stern, together with his younger brother, Sigmund Jacob Stern (1809–1972), after their father's death in 1833.

The Frankfurt parent company Jacob SH Stern was a founding member of the Prussian Consortium in 1866 and a member of the Reich Bond Consortium . In close cooperation with his sister companies in Paris and London, Jacob SH Stern participated in the financing of the Italian tobacco monopoly in 1868 and in the issuance of numerous national and international bonds, including the government bonds for Bulgaria , Portugal , Argentina , the Ottoman Empire and the Chinese Empire . When the 3 billion French franc bond to finance the French war indemnity to the German Reich was introduced on the London and Paris stock exchanges in 1872 , the Stern bank, in addition to the banks MA Rothschild & Sons ( Frankfurt am Main ), had the Diskonto-Gesellschaft (Berlin ) and S. Bleichröder ( Berlin ) contributed significantly to the great success of this issue.

The importance of Jacob SH Stern in the market for securities issues was so great that, right after it was founded in 1870, Deutsche Bank entered into a close and long-term business relationship with the Frankfurter Privatbank in order to take advantage of the international relationships of the Stern family. Banks financed through shares, such as Deutsche Bank, were not yet as well known and trusted as private banks. This intensive cooperation was underlined by the membership of various shareholders of Jacob SH Stern on the Supervisory Board of Deutsche Bank. In addition, Jacob SH Stern was also represented on the supervisory boards of other companies, including that of the Ottoman Bank .

When the Deutsche Reichsbank was founded in 1876, Jacob SH Stern was one of the 25 largest private banks in the German Reich and was thus given a seat in the highest administrative and supervisory body of the Reichsbank, the "Central Committee of Shareholders", in accordance with legal requirements. The bank thus had an influence on monetary, currency and financial policy in the German Reich. Jacob SH Stern was also significantly involved in the founding of several companies: the metal company in Frankfurt am Main in 1881, the Anatolian Railway Company in Constantinople in 1888, the German-Asian Bank in Shanghai in 1889, the Schantung Railway Company in China in 1895, the study company for Electric rapid transit railways in Berlin in 1899 and the Deutsche Petroleum-Aktiengesellschaft in Berlin in 1904.

Jacob SH Stern was able to successfully oppose the growing competitive pressure from the big banks and the associated process of concentration in the German banking industry at the turn of the century. After the First World War , the bank even experienced a new high phase. Thanks to her foreign relations, which are partly based on family ties, she was able to bring urgently needed foreign capital to Germany in the face of the currency breakdown during the Weimar Republic .

During the Third Reich , the Jacob SH Stern bank was aryanized in 1938 through the forced takeover by the Frankfurt banking house Metzler .

Partner

Surname Life dates Duration of partnership:
Siegmund Stern 1809-1872 ? -1872
Theodor Stern 1837-1900 1860-1890
Otto Braunfels 1841-1917 1891-1917
Wilhelm Theodor Stern 1872-1930 1904– (at least) 1913
Paul Stern 1876-1939 1904-1938
Fritz Auerbach 1852-1909 1906-1909
Emil JJ Wetzlar 1860-1916 1909-1916
Rudolf Kaulla 1872-1954 1920-1934

literature

  • Emden, Paul Heinrich: "Money Powers of Europe in the Nineteenth and Twentieth Centuries", D. Appleton-Century Company, New York 1938, pp. 259ff.
  • Emden, Paul Heinrich: "To celebrate the 100th anniversary of the JSH Stern banking house", Frankfurt am Main 1905.
  • 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 .
  • Köhler, Ingo: "The" Aryanization "of the private banks in the Third Reich". In: "Series of publications on the journal for corporate history", Volume 14, 2nd edition, 2008.
  • 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

References and comments

  1. ↑ Kirchholtes, Hans-Dieter: "Jewish private banks in Frankfurt am Main", Verlag Waldemar Kramer, Frankfurt am Main 1989, p. 40
  2. ↑ James Phillipps: "Meet the most influential bank dynasty you've never heard of", August 7, 2014 at www.citywire.co.uk
  3. ↑ Kirchholtes, Hans-Dieter: "Jewish private banks in Frankfurt am Main", Verlag Waldemar Kramer, Frankfurt am Main 1989, p. 40
  4. ^ Paul H. Emden: "Money Powers of Europe in the Nineteenth and Twentieth Centuries", D. Appleton-Century Company, New York 1938, p. 260.
  5. ↑ Meleghy, Gyula: “The intermediary role of the banks in German investments in North and Central America up to the First World War”, Cologne 1983, p. 21.
  6. ↑ Morten Reitmayer: Bankers in the Empire - social profile and habitus of German high finance (= critical studies on historical science . Volume 136). Vandenhoeck & Ruprecht, Göttingen 1999, p. 200.
  7. ↑ Meleghy, Gyula: “The intermediary role of the banks in German investments in North and Central America up to the First World War”, Cologne 1983, p. 21.
  8. ↑ Jurk, Michael: “The other Rothschilds: Frankfurter Privatbankiers in the 18th and 19th centuries”, published in: Heuberger, Georg: “The Rothschilds - Contributions to the History of a European Family”, Jan Thorbecke Verlag, Frankfurt am Main 1995, p 46
  9. ↑ Meleghy, Gyula: “The intermediary role of the banks in German investments in North and Central America up to the First World War”, Cologne 1983, p. 22.
  10. ^ Paul H. Emden: "Money Powers of Europe in the Nineteenth and Twentieth Centuries", D. Appleton-Century Company, New York 1938, pp. 259f.
  11. ↑ Kirchholtes, Hans-Dieter: "Jewish Private Banks in Frankfurt am Main", Waldemar Kramer Verlag, Frankfurt am Main 1989, p. 41
  12. ↑ Meleghy, Gyula: “The intermediary role of the banks in German investments in North and Central America up to the First World War”, Cologne 1983, p. 21.
  13. ↑ Morten Reitmayer: Bankers in the Empire - social profile and habitus of German high finance (= critical studies on historical science . Volume 136). Vandenhoeck & Ruprecht, Göttingen 1999, p. 200.
  14. ^ "Frankfurt am Main - history of the financial center: II 1700 to 1945 - leading stock exchange in the international bond business" on frankfurt-main-finance.de
  15. ↑ Köhler, Ingo: The "Aryanization" of the private banks in the Third Reich . In: Series of publications on the journal for corporate history , Volume 14, 2nd edition, 2008, p. 585