Don Land Bank is one of the largest mortgage banks in pre-revolutionary Russia.
The Don Land Bank was founded in 1872 in Taganrog and became one of the ten joint-stock land banks of the Empire that arose in 1871 - 1873 . as a result of credit reform during the reign of Emperor Alexander II , and lasting until the October Revolution . In addition to Donskoy, they included Kharkov, Poltava, St. Petersburg-Tula, Moscow, Bessarabian-Tauride , Nizhny Novgorod-Samara, Kiev, Vilensky and Yaroslavl-Kostroma land banks. The stock capital of all these financial institutions as of July 1, 1898 was 51716520 rubles. [2]
The procedure for issuing a loan in land banks of that time was necessarily accompanied by the execution of mortgage sheets - securities highly quoted on the stock exchange. First of all, at Moskovskaya : the main volume of trading in securities related to mortgages took place there. Active trading in mortgages was also on the St. Petersburg , Odessa , Riga and Kharkov exchanges. [3]
Among the founders of the bank were Yakov Solomonovich and Samuel Solomonovich Polyakov. Ya. S. Polyakov until 1903 was chairman of the board when he was forced to part with the shares of the bank, which came under the control of the Azov-Don Bank . At the beginning of the 20th century, the board included: Vasily Pavlovich Lukin (chairman), Nikolai Iosifovich Khvostov, Roman Aleksandrovich Pentzel, Gustav Yulianovich Rummel . He specialized in issuing long-term loans (from 10 to 66 years) secured by land and urban real estate. In 1912 , loans were issued for 19.1 million rubles, the turnover amounted to 948.8 million rubles. Net profit in 1912 - 1.802 million rubles; in 1914 - 2 million rubles. As of January 1, 1913 , 10 631 real estate were pledged, under which 154.8 million rubles were issued. In 1913, fixed capital amounted to 10 million rubles. (40 thousand shares at 250 rubles).
Sources
- Don land bank. The charter of the Don land bank: [Approved. Sep 17 1872]. - SPb., 1872. - 35 p.
- Don land bank. Charter of the Don Land Bank: With subsequent rev. until July 1, 1913 ... - Neofits. ed. - SPb., 1913. - 60 p.