FINANCIAL CRISIS AVERTED.
THE GERMAN "PRINCES' TRUST."
BERLIN, Oct. 4
Vigorous intervention by the Deutsche Bank has saved the "Princes' Trust" from ruin, and averted grave calamity to German financial and industrial interests.
The bank's statement discloses reckless transactions on the part of the Trust.
A month or so ago financial circles in Berlin were deeply interested in what appeared to ibe an approaching truce between the two most powerful money groups in Germ-any, the Deutsche Bank and the so-called "Princes' Trust," which Includes the best friend of the German Emperor, Prince Max Furstenberg and Prince Christian Hohenlohe-Vringen, a kinsman of his Majesty. The groups have waged war for five years. On September 23rd it was stated that Prince Furstenberg had found it necessary to float a public loan of £1,100,000, and was mortgaging the bulk of his properties' in the Grand Duchy of Baden as security. These properties include the famous Daanusohingen estate, where the Kaiser has spent an annual holiday as the Prince's guest; als"o the great Furstenberg's brewery. The money was needed to finance the Prince and his partners' multifarious interests. The newspapers interpreted the projected loan as the latest step In liquidation of the "Princes' Trust," which is described as "a stranded ship."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NA19131006.2.33
Bibliographic details
Northern Advocate, 6 October 1913, Page 5
Word Count
207FINANCIAL CRISIS AVERTED. Northern Advocate, 6 October 1913, Page 5
Using This Item
NZME is the copyright owner for the Northern Advocate. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in