Banque Industrielle de Chine. 1920. Capital: 150MF
Ordinary Share of 500F - Paris 1920
Issue of 150 million francs.
With all 17 coupons.
Nice design with dragons (meaning strengh and luck) in front of the Forbidden City.
Bank founded by André Berthelot, son of the politician Marcelin Berthelot, with a capital of 45.000.000F divided in 87.000 ordinary shares, 3.000 founder shares of 500F each.
The Pekin Syndicate brought funds and got 1000 founder shares, such as the Chinese government.
Founded in 1913, concurrent of the Banque de l’Indochine has a stunning rise, linked to the prosperity of the Chinese economy during the 1914-18 war.
The bank takes control of the Société Financière des Caoutchoucs in 1919.
Although favored by André's brother, Philippe Berthelot, head of the Asia section at the Quai d'Orsay, the Bank had engaged in risky operations and speculation on silk, rice and gold, as well as loans to the Chinese Government.
The reversal of the economy in 1920 was to be fatal, because of the fall in prices.
June 30, 1921 broke a scandal with the closure of the windows of the bank.
Although Philippe convinced the rich and influential Horace Finaly, director of the Banque de Paris et des Pays-Bas, to bail out his brother's bank but the bank could not be saved. Philippe will be forced to resign.
The assets of the bank are transferred to the Banque Franco-chinoise pour le Commerce et l'Industrie (Franco-Chinese Bank for Trade and Industry).
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