Moritz Magnus

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Moritz Magnus (* 1838 ; † 1897 ) was a banker in Hanover.

family

The ancestors came from Schlüchtern in Hesse . The grandfather Moses Selig became a protective Jew in Bovenden near Göttingen and was a trader there around 1800.

His father, Bernhard Magnus (originally Bendix ; 1808–1885) came to Hanover around 1830, initially worked as a lottery assistant and in 1834 received a letter of protection for self-employed lottery takers. He married a daughter of the banker Ephraim Meyer (around 1780–1849). In 1837 he became the main collector, in 1847 he took up the money exchange business and in 1859 he founded the B. Magnus banking house , which moved to the newly built city center in 1865. He represented domestic and foreign insurance companies, was involved in the trade in agricultural products and in the development of industrial operations such as the Hannoversche Actien-Brauerei , founded in 1871 , which merged with the Herrenhausen brewery in 1906.

Moritz's siblings were Eduard (1842–1913; 1868 authorized signatory and 1872 co-owner), Julius (1844–1913) and Max (1849–1900) in Berlin and Hamburg, respectively, in the banking business, Emil (1855–1910) was a businessman in Hamburg. Max's son, Erwin Magnus (1881-1947) became a writer and translator of Scandinavian literature and head of the United Workshops in Hamburg, which set up the German-Nordic arts and crafts house for him.

Life

Like Eduard, Moritz became involved in his father's company, having been a partner since 1864, co-owner since 1867 and, after his father's death, head of the bank.

After the Neue Hannoversche Gummi-Warenfabrik went bankrupt in 1869 , Moritz invested 55,500 marks in its bankruptcy estate in 1871. After a market analysis, he decided to switch the production from hard to soft rubber goods and founded the Continental-Caouchouc- und Gutta-Percha Compagnie AG with a consortium on October 8, 1871 . From 1873 the new factory produced rubber balls, hoof buffers (for horses), rubber seals, hoses and solid rubber tires for carriages. Until his death he was a member of the Continental Supervisory Board, from 1888–1897 as chairman. When the company got into difficulties during the start-up crisis due to insufficient capital resources, his bank employee Siegmund Seligmann took over the management in 1876, from September 1876 as authorized signatory and in 1879 commercial director.

With his bank, he was involved in numerous other companies in the Hanover area.

After his death, Eduard became his successor on the Continental Supervisory Board. When the Magnus Bank was taken over by Commerz- und Disconto-Bank in Hamburg in 1907 , Eduard joined their supervisory board.

Moritz Sohn, Ernst Magnus (1873–1942) was head of the Hanoverian branch of Commerz- und Disconto-Bank from 1907, board member of the stock exchange since 1910 and member of the supervisory board of Continental Gummi-Werke AG from 1914–1933 . In 1935 he emigrated to Switzerland and later to Cuba.

supporting documents

  1. ^ German biography: Moritz Magnus
  2. ↑ http://d-nb.info/gnd/136863051/about/html
  3. ↑ http://www.deutsche-biographie.de/sfz126738.html
  4. ^ Böttcher: Hannoversches biographisches Lexikon, p. 252
  5. ↑ http://www.erwin-magnus.org/
  6. ↑ B. Gottschalk: Brand Management in the Automotive Supplier Industry ; P. 120
  7. ^ Hans Theodor Schmidt: Continental - A Century of Progress and Achievement, 1871 to 1971 , company publication for the 100th anniversary of the company, self-published, Hanover 1971

Web links

personal data
SURNAME Magnus, Moritz
BRIEF DESCRIPTION German banker
DATE OF BIRTH 1838
DATE OF DEATH 1897