- Project Runeberg -  Finland : its public and private economy /
205

(1902) [MARC] Author: Niels Christian Frederiksen
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increase its capital of 1½ million by the issue in
1896 of another million at 170; 145 would have
been the price at par, reckoning the capital with
the additional reserve. It has now a share capital
of 3 millions with a reserve of 1,850,000. It has
in later years paid 9 per cent. in dividends. Its
expenses have varied considerably. The Bank of
Nyland was established in 1887 with only 300,000
marks capital, but in 1890 and 1895 it increased
its capital by 300,000 and 400,000 marks issued
at 125 and 132; the last issue was at par, reckoning
the capital with the additional reserve. It has now
1 million capital and 300,000 marks reserve, the
average dividend being 5 per cent.; and the expenses
being 39 per cent. of the gross profit. The
Folkbank, which it was decided to establish at about the
same time, and which tried to attract depositors by
giving part of the profit to those who deposited on
Savings Bank terms, has increased its capital of
300,000 to 700,000 by the issue of new stock
at 103, but in consequence of losses in 1896 it
transferred its business to the new Privatbank of
Helsingfors with a capital of 2 millions. This bank,
too, with Herr E. Schybergson as manager, has been
able to issue new stock at 160, increasing thereby
the share-capital to 4 millions with one million reserve.
The dividend in 1900 was 10 per cent. The Kansallis
Osake Pankki (the Finnish name for the “National
Joint-Stock Bank”), with Professor Alfred Kihlman as
chairman of the board of directors and Herr F. K.
Nybom as manager-in-chief, was established in 1890
in Helsingfors with 2½ million capital, one quarter
being paid up; later, in 1891, it was able to issue
1½ million more of stock at 106, and in 1898 one
million at 106, so that it has now a capital of 5

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