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This M.L. Biedermann & Co Bond was issued in 1921.
Per Wien Geschichte Wiki:
The predecessor of the MLBiedermann & Co bank was the
wholesale house founded by Michael Lazar Biedermann (1769-1843), which ran one
of the oldest private banks in Vienna. Biedermann was also a rabbi and a
leading representative of Viennese Jews. In 1825 he played a decisive role in
the founding of the city temple . After his death, his son Simon took over the
company and founded the ML Biedermann banking house, which was converted into a
limited partnership after his death in 1870. The headquarters were at 1.,
Löwelstraße 10 and later 1., Bräunerstraße 6 .
Public company
With the cooperation of the Anglo-Austrian Bank, a stock
corporation was founded in 1921, which had the same name as the old bank, but
no longer had anything to do with the family. The first president of the board
of directors of the stock corporation was the well-known politician and
economist Josef Schumpeter, and the general director was Gottfried Kunwald, a
close advisor to Chancellor Seipel , which gave the bank a strong position in
the Christian Social Party. Despite the participation of the New York private
bank Morgan, Livermore & Co, it was only able to avoid bankruptcy in 1922
through a support campaign by what was now the Anglo-Austrian Bank and the
National Bank , but when the US partner bank had to be liquidated in 1926, this
was also the case for Biedermann -Bank came to an end and it went bankrupt in
December 1926. As a result, the Republic of Austria also lost a lot of money
that it had invested in this bank.
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All stocks and bonds on this site are being sold as historical collectibles and do not represent any rights of ownership of the company indicated on the certificate. No transfer of ownership will be received and the certificate represents no intrinsic value other than as a collectible.
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