WORLD'S SUPER BANK.
HUGE' GERMAN AMALGAMATION. [raou OUR OWN • CORRESPONDENT.] London, April .29, Tns fusion of the Schaaffhausenscher Bank with the ; Disoonto-Qasellschaft "has been announced on the' Berlin Bourse. It is yet one more" of the great amalgamations which are becoming common in German finance. - The Schaaffhausenscher retains its name and its legal individuality, but become* the property of the Disconto, its shares being exchanged for. a now issue by the latter company at the ratio of five to three. This transaction will raise to £15,000,000 the capital of the Discoutc-Gcsellschaft, which4htts becomes the biggest bank, not only in Germany, but, it is claimed, in the entire world. It will also possess the largest capital of any company whatever in this country, taking the position previously held by the Deutsche Bank, with its £12,500,000 of stock. •, The purchase by tho Disconto was finally provoked by the recent purchase by the Deutsche Bank of a smaller bank, which gave the Deutsche a very strong position in tho manufacturing districts of the Rhino and Westphalia. By the purchase of the Schaaffhausenscher the Disconto may now be considered to have more than countered this coup. The namo of the premises of tho Schaaffhausenscher will bo maintained. The Disconto proposes to reconstruct the concern with a capital of £5,000,000. wHich means 40 per cent, reduction on the present capital. The Schaaffhausenscher, will operate in tho north-west of Germany and tho Msconto will take over the whole of _ the Schaaffhausenscher premises and business in Berlin and elsewhere. Tho news of the transaction was well received on tho Bourse and the stock of both concerns advanced two points or more. Thero is much curiosity to know whether the Disconto is now really a more powerful undertaking than its great rival, the Deutsche Bank, the real value, of which is far in advance of its registered capital, end is now estimated at £21,500;000. . ,
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New Zealand Herald, Volume LI, Issue 15626, 4 June 1914, Page 9
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316WORLD'S SUPER BANK. New Zealand Herald, Volume LI, Issue 15626, 4 June 1914, Page 9
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