Magdeburg sugar crash
As Magdeburg sugar crash , a collapse of will Magdeburg sugar market in the year 1889 , respectively.
Alongside Paris and London, the Magdeburg Stock Exchange was one of the most important sugar exchanges in the world at the end of the 19th century. In particular, commodity futures for sugar were also processed. As a result of economic developments and probably also speculative transactions, there was a sharp rise in sugar prices ( bull market ) on the Paris stock exchange in 1889 . The strong rise in prices in Magdeburg as a result led to speculative deals being concluded on the Magdeburg sugar exchange in large parts of the population . The highest level of price quotations was on July 10, 1889. The sugar refineries threw their sugar reserves on the market in order to siphon off the price gains. Sales orders then arrived from Paris. A sharp drop in prices followed that financially ruined numerous companies and people.
As a result, a liquidation fund was founded in Magdeburg in 1889 with the Magdeburger Liquidationskasse , which was supposed to guarantee the actual execution of closed forward transactions.
literature
- Eberhardt, Jörg / Mayrhofer, Thomas: Annual report 2001 of the Studentisches Börsenverein Magdeburg eV , Magdeburg 2002