Norddeutsche Bank

The North German bank was from 1856 until the merger with the Disconto Society in 1895 independently existing credit institution with headquarters in Hamburg. It was at this time the largest bank in the Hanseatic city. Despite the merger, the two companies were initially continued side by side. In 1929 Disconto Society and North German bank went up in the Deutsche Bank.

History

In July 1855 presented a founding committee to the Senate of Hamburg, the request for establishment of a joint-stock bank. Intended was there in addition to other activities, the issue of banknotes. The Senate rejected the application. Further experiments establishing encountered because of the issue of banknotes intend to reject the authorities. After 1856, the club bank was founded, which waived the issue of bank notes, the founders of Norddeutsche Bank have given up that part. Subsequently, the Bank was founded on 15 October 1856.

The main line of business was initially the issuance of bonds. In addition to bonds including German States were those of Scandinavian countries. Since 1866, the Bank was also active in the industrial business. Involved the bank was about the founding of the North German Affinerie (1866 ), the United King - and Laurahütte (1871 ) and the Gelsenkirchen Mining AG (1873 ). The founder noise of the 1870s has overcome one of the first bank.

Among the founders and board members were numerous private bankers, but also the mercantile community was well represented. Eight companies / merchants presented the initial capital of about 5 million Mark Banco: the bank Salomon Heine 1.3 million, HJ Merck & Co. 0.8 million, Paul Mendelssohn- Bartholdy 0.7 million, JC Godeffroy & Sohn, Tesdorpf & Son Vidal Ross & Co., Robert Kayser, Ferdinand Jacobson 0.5 million each Mark Banco. Directors Rudolph Petersen and John B. Schroeder, who came from leading families of Hamburg. Chairman of the Board was 1856-1893 Gustav Godeffroy, which significantly determined the fate of the Norddeutsche Bank.

Most shares in connection with the shipping issued by the Norddeutsche Bank. In particular, the bank was of great importance for the Hapag, but also for Adolph Woermann and other shipping companies since the 1880s.

In 1895, the North German bank limited partner of Companies based in Hanover banking house of Ephraim Meyer & Son, with whom she worked closely ever since.

In addition, she worked with the Disconto Society together with the financing of industrial projects particularly in the Ruhr. In other areas, it soon came to a close cooperation with the Discontogesellschaft. Finally it came to the 1895 merger of the two companies. Until then, it was the most important hamburger joint-stock bank. Your directors sat in the Central Committee of the Reichsbank and much earlier than the Disconto Society, it was represented in Prussia Consortium.

The form of combination was unusual in that both banks and then formally remained largely independently. The North German bank was converted into a limited joint-stock. The shares themselves were owned by the Disconto Society. However, the bank was now directly dependent on the parent company, four of the five business owner came but after the merger of the Disconto Society. Among them was Adolph von Hanse man. Conversely, the former first director of Norddeutsche Bank of Max Schinckel moved to the headquarters of Disconto Society in Berlin.

In 1929 the bank disappeared during the banking crisis by the merger of Disconto Society with Deutsche Bank.