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Lot 397: KAIS. KÖN. PRIV. ÖSTERR. CREDIT-ANSTALT
29 October 2016
Brussels, BelgiumLive Auction
Description: 20 June 1876 AUSTRIA. WIEN. Partial-Schein über 1/20 des Credit-Loses 1858. olive, black. No 99/4198. Folds. Decorative piece with 2 allegorical figures. Founded 1855 by Anselm von Rothschild as the Imperial royal privileged Austrian Credit Institute for Commerce and Industry. Creditanstalt soon became the largest bank of Austria-Hungary and remained under control of the Rothschild family for several decades. The 1929 Wall Street Crash and the financial difficulties of the Steyr-Werke AG led to bankruptcy in 1931. At that time, the bank was the largest Austrian credit provider and initiated the Great Depression in Austria. The bank became de facto state-owned in 1934 under the name Creditanstalt-Bankverein. In the 1930s, Hitler prominently used the bank’s bankruptcy and its impact in its propaganda blaming the Jews for German and international economic and social troubles. In 1956, Creditanstalt was again partly privatised. Merged with Bank Austria in 2002 and became part of the Italian holding UniCredit in 2005. We see very little scripophily from this important bank, and don't remember having seen any earlier one than the one we offer here.
Condition Report: VF