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Old August 23rd, 2014 #37
RickHolland
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1918 – 1945

Due to the industrialisation after the First World War exchange trading in Berlin increases dramatically. In 1922 a fourth trading floor is gained by roofing the “Summer Exchange” courtyard. At this time the exchange counts 6.082 visitors every day (1913 there were 3.400).

After the currency conversion in 1924 trading becomes less turbulent. Newly founded large concerns like I.G. Farbindustrie and Vereinigte Stahlwerke are the top performers from 1925 on. However, due to a wrong economic and credit policy and due to massive balance of payment difficulties of the state, the stock market collapses on 13 May 1927. The day goes down in history as “Black Friday”. In 1929 the collapse of the New York Stock Exchange precipitates the World Economic Crisis. 1931 a banking crisis in Germany twice leads to the closing of the exchange in Berlin for several months.

From 1933 on the governance of national socialism handicaps the functioning of the exchange. The new rulers carry out an exchange reform in 1934 that redefines the responsibities. Amongst others the exchange supervision is assigned to the Reichswirtschaftsminister (Minister of Economic Affairs). The Commodity Exchange is converted to a Corn Exchange and loses its importance due to planned economy measures. Until 1938 the number of exchange visitors sinks to 455, particularly due to the exclusion of Jewish exchange participants.

On 1 March 1937 the quotation for foreign stocks is halted. The Metal Exchange closes with the beginning of the war in 1939. On 13 February 1943 exchange trading with continuous quotation comes to a halt, shortly afterwards a government act rules that the Reichswirtschaftsminister will be responsible for fixing the prices for securities. The exchange thus loses its economic significance. It stays open in this amputated form until 18 May 1945.

On 3 February 1945 the exchange is heavily damaged and almost completely destroyed in the following hostilities.

The ruin of the exchange building is eroded after the war by order of the East Berlin Magistrate. Today the Burgstraße ends at the Friedrichs-bridge. A promenade along the river Spree leads to the Karl-Liebknecht- Straße. A bronze plate reminds passers by of the location where the exchange once stood.
http://www.boerse-berlin.com/index.p...Berlin/History

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With the advancement of Bankhaus Rothschild in Frankfurt to the leading capital intermediary among the European dynasties, the city developed into a centre for international capital with one of the major international stock markets besides London and Paris.
http://deutsche-boerse.com/dbg/dispa...-Historie18-19

Quote:
With the Nazi takeover in 1933, overall economic policy was incorporated into the general government and war policy. Stock exchange supervision was taken away from the states and made the domain of the central government, with the number of stock exchanges reduced from 21 to 9.

The Frankfurt Stock Exchange incorporated the Mannheim Stock Exchange in 1935. The merged institution was called the Rhine-Main Stock Exchange. Although the Frankfurt Stock Exchange continued to function as a "domestic stock exchange", it had, in reality, no major function. Nazi economic controls constricted the development of the free market and stock market trading.

By and large, potential capital assets were only supposed to benefit the war economy and could no longer be invested in larger bonds or shares. The Frankfurt Stock Exchange building was badly damaged during an allied air raid in 1944. Stock exchange meetings could therefore only be held in the cellar rooms of the building.

Following the collapse of the Nazi regime in 1945, the exchange initially remained closed for six months. It was reopened in September 1945 under the protectorate of the US military government as one of the first German stock exchanges.
http://www.boerse-frankfurt.de/en/ba...y/20th+century

http://deutsche-boerse.com/dbg/dispa...-Historie20Jhd
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