Werschen-Weißenfelser Braunkohlen AG

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Werschen-Weißenfelser Braunkohlen AG
legal form Corporation
founding July 28, 1855
resolution April 16, 1940
Reason for dissolution fusion
Seat Weißenfels from the establishment of
Halle (Saale) from 1897
Branch power supply

The Werschen-Weißenfelser lignite AG was founded in 1855 mining companies in the Central German lignite mining area . Until 1897 the head office was in Weißenfels , then in Halle (Saale) . In 1940 the company was incorporated into the Anhalt coal works , with which it had been an administrative community since 1924.

history

As a result of a process of concentration, many small mining pits in Germany merged into financially strong stock corporations from the middle of the 19th century . This process, known at the time as consolidate , affected around 15 pits with 48 coal fields in the Central German lignite mining area between 1854 and 1863 , which were broken up into five consolidating companies. This included Werschen-Weißenfelser Braunkohlen AG , founded on July 28, 1855 with its headquarters in Weißenfels . The first mine, as a company-owned and share-listed brown coal mine , went into operation on September 23, 1855 in Werschen , today a district of the town of Hohenmölsen .

The main initiator and first general director was the entrepreneur Karl August Jacob . The other co-founders included Ludwig Wucherer , Johann Gottfried Boltze , Carl Degenkolb and Karl Gruhl. Boltze and Gruhl already owned coal mines, which they combined with Werschen-Weißenfelser Braunkohlen AG. In a very short time, further completely company-owned mines were acquired, including in Webau , Keutschen , Köpsen , Gerstewitz and Reußen, a current district of Theißen . The entrepreneurial focus was not only on the mining of lignite or the sale of house fuel , but also on coal refinement from the start . In addition to briquette factories at various locations, between 1858 and 1861, for example, in Köpsen, the company built a state-of-the-art boiling plant with an attached photogenic and paraffin factory .

A special feature of the Zeitz-Weißenfels brown coal mining area was the sedimentation of the coal. The main seam here contained alternating deposits of bitumen-poor coal and bitumen-rich black coal. In several places in the region there was particularly rich bitumen with a tar content of 30 to 70 percent . On this basis, an important branch of the chemical industry ( carbochemistry ) developed in the Weißenfels-Hohenmölsen- Zeitz area . In particular, A. Riebeck'sche Montanwerke AG and Werschen-Weißenfelser Braunkohlen AG set new standards in the research and development of coal hydrogenation .

Werschen-Weißenfelser Braunkohlen AG became well known, also in private households, with the manufacture of lighting materials. From the last decades of the 19th century, the company developed, among other things, into an important producer of household candles. The brands Werschen-Weißenfelser Kronen candles , Adler candles , Wagen candles , and above all the Werschen-Weißenfelser Solon candles , which came primarily from the lignite works in Köpsen and Webau, were known throughout Germany. The magazine of the Association of German Engineers reported on the company in 1862:

"The Werschen-Weißenfelser brown coal corporation in Weißenfels, which is worth 500,000 thalers. Based on share capital, it deals with the direct utilization of the extracted lignite as well as its indirect utilization through the production of photogen and paraffin. The actual mining operation of this company employs over 1200 men in the vicinity of Naumburg , Weißenfels and Zeitz. In 1859, all of the company's mines ( Runthal , Teuchern , Werschen, Gröben , Rödlitz, Keutschen, Köpsen, Gerstewitz, Domsen and Tornau ) mined around 1 million tons of pure brown coal, 530,000 tons of which were formed into about 53 million briquettes and as such sold."

Until 1917, the company regularly distributed high dividends to its shareholders , for example 15 percent for the business year 1874 and 20 percent for the business year 1916. Werschen-Weißenfelser Braunkohlen AG also distinguished itself through progressive social benefits until 1918. Since 1856 there were in-house workers, pension and provident funds , as well as employee representatives . These services and co-determination rights were largely due to co-founder Carl Degenkolb , who is considered to be the pioneer of today's works councils .

1897 was the seat of the company to Halle (Saale) laid. In order to be able to introduce high-performance technology and thus increase production, all plants were expanded at the same time, along with the acquisition of new coal fields and the construction of further smelting plants. Particularly noteworthy is the briquette factory in Wählitz, built around 1898 with five high-performance, steam-powered presses and the first own lignite-fired power plant for electricity generation, which was built by 1906 .

From 1900 onwards, price agreements and an excessive pursuit of profit led to a nationwide supply crisis , the so-called coal shortage . Against this background, the company joined the Central German Brown Coal Syndicate in 1909 . However, the cartel proved to be unstable, so that between 1910 and 1913 there was an increasing number of company consolidations. As a result, at the beginning of the First World War, only two large companies were still active in the Zeitz-Weißenfelser district: Riebeck'schen Montanwerke AG and Werschen-Weißenfelser Braunkohlen AG.

The merger in the same capacity with Waldauer Braunkohlen-Industrie AG in 1911 was a particularly successful merger. The company acquired the conveniently located Profen lignite works along with immense deposits and the Waldauer mineral oil and paraffin factories near Naumburg. Waldemar Scheithauer moved from Waldauer Braunkohlen-Industrie AG to the management of Werschen-Weißenfelser Braunkohlen AG, initially as first director, later as general director and member of the supervisory board. After this merger, 65 percent of German smoldering tar processing was in the Werschen-Weißenfelser Braunkohlen AG division. In the following years, the company concentrated coal refinement on the smelting plants in Webau, Gerstewitz and Köpsen. Refining processes have been optimized, for example for de-oiling the paraffin, as well as processes such as the dry sweating process, crystallization technology, paraffin washing or selective de-oiling, introduced and continuously developed.

In total, around 2.4 million tons of raw coal were mined in the pits of the stock corporation in 1914. At that time, the initials of the company and the place name of the respective briquette factory were printed on the briquettes of Werschen-Weißenfelser Braunkohlen AG - for example WW Luckenau or WW Wählitz . The briquettes from the factory in Profen, which had been taken over and which was still being built by Waldauer Braunkohlen-Industrie AG, were an exception . These products were still branded Waldau in GDR times . It was thus evident that the presses installed in 1910 remained in operation for many decades.

Hostile takeover

From 1910, the two large Jewish industrialists Julius Petschek ( Prague ) and Ignaz Petschek ( Aussig ) began to expand their influence in the Central German lignite mining area. Gradually, the severely divided brothers bought numerous shares in coal, paper, glass and chemical stock corporations in the Sudetenland and throughout Germany. Although the brothers were in the same business, they were in competition and fiercely fought each other. In many companies, Julius and Ignaz Petschek obtained the majority of shares through hostile takeovers and outbid each other in the process. In this way, the siblings acquired a share of 25 percent in Werschen-Weißenfelser Braunkohlen AG in 1913.

In the following three years a real battle broke out for the majority of Werschen-Weißenfelser Braunkohlen AG, which Julius Petschek ultimately won. Against the will of the banks and the shareholders, he secured a majority of the shares and, at an extraordinary general meeting on November 24, 1916, forced the resignation of all members of the supervisory board. In the same way, the Petscheks expanded their influence on the Anhaltische Kohlenwerke, whose majority share was taken over by Julius Petschek in 1918. The procedure drew a devastating press coverage. Business editors, for example for the German daily newspaper , the Tälichen Rundschau (Berlin) or the Neue Freie Presse (Vienna) , repeatedly criticized the disadvantage of small shareholders and the economically rising energy prices associated with the monopoly. Even the economically liberal Frankfurter Zeitung warned the Petscheks that “people not only grow with higher purposes, but that people also grow with higher duties”.

After the establishment of the Weimar Republic , the two warring families were able to enormously expand their monopoly position by acquiring further blocks of shares in central German lignite plants. When they took over, the Petscheks benefited from the fact that they had become Czechoslovak citizens in accordance with the Washington Declaration in 1918 . This newly formed republic achieved an upswing in the early years that was in stark contrast to the enormous inflation in Germany and Austria. In addition, in the early years of the Weimar Republic, the various imperial governments considered nationalizing all coal mines in Germany, which is why many shareholders saw it as a risk to keep their mining shares. The "Petschek Syndicate" gained considerable influence on this basis and controlled 50 percent of European coal production within a short period of time. East of the Elbe, their share fluctuated between 66 and 70 percent. Werschen-Weißenfelser Braunkohlen AG and Anhaltischen Kohlenwerke were considered to be dominant in central Germany. Julius Petschek held the majority of shares in both companies. The struggle between the brothers resulted in all of the capital increase applications from Werschen-Weißenfelser Braunkohlen AG being rejected by the end of the Weimar Republic. The atmosphere at supervisory board meetings was described by contemporary witnesses as extremely tense, because the two brothers often argued personally in front of those present.

In fact, the Petschek brothers were not only able to influence the price of coal, but also the selection of shareholders and the amount of the dividend. Until 1922, the major German banks and the majority of the members of the supervisory board of Werschen-Weißenfelser Braunkohlen AG demanded a capital increase or an extension of subscription rights . Julius Petschek responded by dismissing the entire board of directors of Werschen-Weißenfelser Braunkohlen AG and merging the administrations of Anhaltischen Kohlenwerke and Werschen-Weißenfelser Braunkohlen AG. This means that from October 1, 1924, both companies were run by a joint administration. Ferdinand Raab , who had been in a leading position at Werschen-Weißenfelser Braunkohlen AG since 1917 , acted as the new general director of Werschen-Weißenfelser Braunkohlen AG and Anhaltische Kohlenwerke for the next eight years . In order to safeguard his interests, Julius Petschek put Eugen Schiffer , the formerly first Reich Finance Minister of the Weimar Republic, through as the new chairman of the supervisory board of Werschen-Weißenfelser Braunkohlen AG and the Anhalt coal works.

During this time, observers described the working conditions of the miners in the Werschen-Weißenfelser Braunkohlen AG and the Anhaltischen Kohlenwerke as particularly serious. The 1920s were characterized by layoffs, strikes and political disputes. Both Petschek brothers were close to the economically liberal DDP , whose members advocated a centrally governed unitary state and against the emergence of a welfare state. In 1924 the right of the employee representatives of Werschen-Weißenfelser Braunkohlen AG to have a say was severely restricted, whereupon the general works council lodged a complaint with the mining authority in Zeitz. The responsible mining district officials rejected the contradiction and thus a support for the demand for more economic democracy . When making this decision, it should generally be taken into account that the Works Council Act for employees that was passed during the Weimar period was in fact a step backwards. The provisions contained therein were optional provisions which consequently did not have to be complied with.

One of the largest miners' strikes in the Central German mining area, which was largely due to workers from the Werschen-Weißenfelser Braunkohlen AG and Anhaltische Kohlenwerke, broke out in October 1927. It lasted almost 30 days. The Internationale , the magazine for the practice and theory of Marxism, described the “exploitation of miners in Central Germany as particularly blatant, absolutely and relatively far worse than in the Ruhr area”. The whistle of the locomotives on mine railways became a symbol of the miners' approval of the general strike against the rule of the major shareholders. Until 1933 the miners repeatedly called for work stoppages, which was suppressed with the help of the state apparatus of the Weimar Republic and sanctioned with considerable prison sentences. Above all, the works of Werschen-Weißenfelser Braunkohlen AG in Wählitz, Hohenmölsen, Teuchern and Zembschen were strongholds of the KPD .

Towards the end of the 1920s, Werschen-Weißenfelser Braunkohlen AG increasingly switched to the operation of large open-cast mines . On October 1, 1930, the company acquired the place Gaumnitz , which was the first place in the Zeitz-Weißenfelser district to give way to lignite. By 1932, all residents were resettled, the millennia-old town was devastated and then completely dredged over. There are no known protests against the forced relocation. It should be noted here that both Petschek brothers owned shares in various newspapers in Central Germany, for example the influential Neue Leipziger Zeitung . At around the same time, as part of the German self-sufficiency drive , which began in the Weimar Republic, the company developed into a leading research company in coal liquefaction and a pioneer of German gasoline . Worth mentioning are the two chemists Fritz Frank and Paul Schneider, who for the first time hydrogenated synthetic methanol as a by-product in the fermentation of maize for the so-called Halle operating material of Werschen-Weißenfelser Braunkohlen AG.

In the early 1930s, the Petscheks controlled 30 percent of German lignite works. The largest and most important companies for the Prager Petscheks were the Werschen-Weißenfelser Braunkohlen AG and the Anhaltischen Kohlenwerke. By 1932 Julius Petschek was able to increase his stake in Werschen-Weißenfelser Braunkohlen AG to 88 percent. After A. Riebeck'sche Montanwerke AG, which had belonged to IG Farben since 1926 , the Anhaltische Kohlenwerke and Werschen-Weißenfelser Braunkohlen AG, which in fact already belonged together, were the largest lignite producers in Central Germany. The Aussiger Petschek clan controlled the Ilse Bergbau AG in Berlin, the Eintracht Braunkohlenwerke und Brikettfabriken AG in Welzow , the Niederlausitzer Kohlenwerke AG, the Phoenix AG for brown coal utilization in Berlin, the brown coal works Leonhard in Zipsendorf , the brown coal works Borna and the Bleichert coal works . Ignaz Petschek's lignite works were around four times larger than his brother's. However, Julius Petschek owned significantly more shares in banks. He was the owner of the Petschek-Bank in Prague, the main shareholder of the Böhmische Escompte-Bank and Creditanstalt , the Böhmische Unions-Bank as well as a shareholder in several banks in Germany, Holland, Spain, England and the USA.

"Aryanization"

From 1926 at the latest, the industrialist Friedrich Flick gained increasing influence in the region through the Mitteldeutsche Stahlwerke . It should be noted in this context that Friedrich Flick maintained private relationships with Ignaz Petschek in particular until his death. Both had sat on the supervisory board of the Linke-Hofmann-Werke for years and got on very well. In addition, Flick and Petschek disapproved of the supremacy of the Ruhr barons and together prevented the creation of a European supertrust planned by Fritz Thyssen . They also shared an opposition to IG Farben.

Julius Petschek died in January 1932. His son Paul, who until then had represented the Prague Petscheks alone in Germany, left Germany that same year after the death of his father. The heirs of Julius Petschek, henceforth called the Julius Petschek Group, decided to give up their business in Germany and transferred the shares in Anhaltische Kohlenwerke and Werschen-Weißenfelser Braunkohlen AG to the US company United Continental Corporation (UCC ). The 54-year-old Ferdinand Raab was put into early retirement and the German-American industrialist Heinz Pulvermann took over the management of the two companies . Ignaz Petschek died in February 1934. His heirs, henceforth called the Ignaz Petschek Group, transferred the shares and property of the Aussiger Petscheks in Germany mainly to Dutch and Swiss holding companies. As a result, large parts of the profits of both groups flowed abroad and the income taxes bypassed the German tax authorities . The latter led to years of legal disputes, particularly between the Ignaz-Petschek Group and the German tax authorities.

According to more recent research by the Czech historians Drahomír Jančik, Eduard Kubů, Jiří Novotný and Jiří Šouša, who have published several extensive and detailed studies on the social and economic history of Eastern Central Europe based on the numerous files available, both Peschek communities of heirs preferred to pay high dividends instead of investments in front. This affected both the companies and holdings of the Petscheks in Germany and in Czechoslovakia. Specifically listed are the Werschen-Weißenfelser Braunkohlen AG and the Anhaltische Kohlenwerke, which were not modernized for years after the death of Julius Petschek.

In October 1934, the company acquired ten percent of the shares in Braunkohle-Petrol AG (BRABAG). Heinz Pulvermann spoke out against participation. Other board members were initially critical of participation in this compulsory community, but changed their minds from 1936 at the latest due to improved production processes and the rise in world market prices for mineral oil. Some members of the company management had a positive attitude towards the founding of BRABAG from the beginning. From their point of view, a decisive aspect arose from the fact that the synthetic fuels were to be hydrogenated from lignite, which, respectively, could lead to an increase in the production rate in the company's mines and thus only to higher profits. Ultimately, the company had been working on charring and distillation processes for decades and was just not sure of the necessary economic prerequisites for the transition to larger productions.

On May 15, 1937, Heinz Pulvermann left the company as a member of the board. The Julius Petschek Group appointed the German-Argentinian Carlos Wetzell as his successor , who had legal experience in company sales and excellent contacts in government circles. Among other things, he was good friends with Herbert Göring , Hermann Göring's cousin . Paul Leverkuehn , whose Berlin law firm had specialized in foreign property law in Germany, was won as chairman of the supervisory board as early as 1934 .

By the summer of 1937 at the latest, Julius Petschek's community of heirs aggressively offered their 67 percent stake in Anhaltische Kohlenwerke and their 88 percent in Werschen-Weißenfelser Braunkohlen AG for sale. Negotiations began with IG Farben and, in parallel, with Wintershall Holding , represented by August Rosterg and Günther Quandt . Other interested parties were Peter Klöckner and Hermann Röchling . Represented by the influential Wall Street banker George Murnane, the New York-based Petschek holding UCC demanded 16 million US dollars for its shares in both companies. The fixed assets of Werschen-Weißenfelser Braunkohlen AG in 1937 were the equivalent of around 10 million dollars and those of Anhaltische Kohlenwerke around 15 million dollars, which corresponds to their percentage shares of around 8.8 million dollars for Werschen-Weißenfelser Braunkohlen AG and $ 9.9 million at the Anhalt Coal Works.

In a conversation with Karl Kimmich , board member of Deutsche Bank, the General Manager of the Flick Group , Otto Steinbrinck , learned about the negotiations. With this inside information, Friedrich Flick had the opportunity to expand his own coal base in Central Germany. At the same time, Flick came into direct contact with the management of Werschen-Weißenfelser Braunkohle AG and Anhaltischen Kohlenwerke. The initiative did not come from Flick, but from Carlos Wetzell. In relation to Flick, Murnane now demanded 18 million US dollars for both blocks of shares, a sum that Flick could not raise and which the Reich Ministry of Economics would not have approved under any circumstances due to the foreign exchange restriction .

Accordingly, the sales talks dragged on until spring 1938. Again, it was Wetzell who recommended Flick to present the representatives of the Julius Petschek Group with a question that had been clearly posed “officially”: “Are you ready to sell?” - and if they agreed, they should be informed that Flick should be had been commissioned by the German government to conduct the negotiations. In fact, Hermann Göring then forced the other interested parties to cease their negotiations and issued Flick a kind of sole negotiating power of attorney. Background: Flick was the only German steel industrialist to support the establishment of the Reichswerke Hermann Göring with material deliveries. For the steel kings on the Rhine and Ruhr these companies were nothing more than annoying state competition, which they boycotted wherever they could. As a result, Flick is said to have always had a positive reputation at Göring .

After tenacious bargaining and pointing out that state expropriation could also threaten, Flick agreed with Murnane in early May 1938 on a total purchase price of 6,325,000 US dollars, payable to the UCC on May 21 in New York City. That sum would be equivalent to the same purchasing power of $ 110,350,606 today. Carlos Wetzel made double payments for his brokerage services. From Flick he received a low-interest loan of 200,000 Reichsmarks and from the Julius Petschek heirs a commission of three percent. The Nazi press reported in detail about the "return of the majority of shares in both companies to German hands" and about "the measures that were necessary during the Aryanization ". The Reich Propaganda Ministry spoke of an "important step in the de-Jewification of the coal industry".

The board of directors and the members of the supervisory board of both companies remained in their offices, with Friedrich Flick personally taking over the chairmanship of the board of Werschen-Weißenfelser Braunkohlen AG on January 1, 1939. At the beginning of June 1938, Werschen-Weißenfelser Braunkohlen AG acquired the majority of the shares in Anhaltische Kohlenwerke. In the same year, high investments were made in the construction of new breweries and increases in raw coal mining and the net earnings of the workforce. The pits of both companies in the Geiseltal were merged and at the same time exclusive raw coal purchase contracts were concluded with the neighboring fuel plants Lützkendorf (Wintershall), Leuna (IG Farben) and Salzdetfurth . According to a report in the Neue Zürcher Zeitung , the raw coal production of both companies amounted to 9.6 million tons in the 1938 financial year, of which the Anhaltische Kohlenwerke produced around 6.54 tons. Specifically, after the takeover, the extraction of raw coal rose by the end of 1938 from 2,552,117 tons in the previous year to 3,111,724 tons. In addition, the factories in Webau and Köpsen were the largest candle producer in Germany from the end of 1938 onwards, thanks to the modernization and investment initiated by Flick. At that time the company employed a total of 2,897 workers in all of its plants.

In contrast to the heirs of Julius Petschek, who apparently sold their shares in lignite plants in Germany voluntarily, the property of Ignaz Petschek's heirs in Germany was expropriated in 1939/40. Currency offenses and tax debts served as grounds . After a tax audit in 1938, the Berlin-Moabit tax office had already sent back payment notices for the years 1925 to 1937 in the amount of 300 million Reichsmarks, an amount that was above the estimated value of the Ignaz-Petschek Group. The authorities initially seized their bank deposits in Germany and, after the Munich Agreement and the associated incorporation of the Sudeten German territories into the German Reich, were given full access to the Ignaz Petschek property in Aussig. In the course of expropriation, Ignaz Petschek's former works or holdings in joint stock companies in Germany and Bohemia were largely absorbed by the state-owned Reichswerke Hermann-Göring. After a bidding process in 1940, the Anhaltische Kohlenwerke acquired shares in mines owned by the Ignaz Petschek Group in Geiseltal and Upper Silesia from the Reichswerke Hermann Göring, as well as the majority of shares in the Eintracht Braunkohlenwerke und Briquettfabriken AG in Welzow, which in 1944 was entirely owned by Friedrich Flick KG was assigned.

In January 1939, the Werschen-Weißenfelser Braunkohlen AG and the Anhaltische Kohlenwerke in Profen began to build a state-of-the-art coal factory in Lurgi using the flushing gas process , which went into operation from 1940. In addition to the A. Riebeck'schen Montanwerke (IG Farben) lignite power plant in Deuben, the Profener plant refined coal into Schwelteer , which the Zeitz hydrogenation plant, completed by BRABAG at the end of 1939, converted into synthetic gasoline. At the same time, the decision was made to open a new large-scale opencast mine in the immediate vicinity of Profen, which would compete with the high-tech Otto-Scharf mine of A. Riebeck'schen Montanwerke. The Profen opencast mine is still one of the largest lignite mining sites in Germany.

On April 16, 1940 in the Hotel Kaiserhof (Berlin) at the ordinary general meeting of the board of directors and supervisory board of Werschen-Weißenfelser Braunkohlen AG, the merger of the company with Anhaltische Kohlenwerke was decided. The shares in Werschen-Weißenfelser Braunkohlen AG were converted retrospectively to January 1, 1940, either into ordinary shares or preference shares in Anhaltische Kohlenwerke. Accordingly, the annual report presented on April 16, 1940 for the year 1939 was the last balance sheet for Werschen-Weißenfelser Braunkohlen AG.

Web links

literature

  • Rainer Karlsch, Raymond G. Stokes: Factor Oil. The mineral oil industry in Germany 1859–1974 . Verlag CH Beck, Munich, 2003.
  • Johannes Bähr, Axel Drecoll, Bernhard Gotto, Kim Christian Priemel, Harald Wixforth: The Flick Group in the Third Reich . Walter de Gruyter, 2012.

Individual evidence

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