[{"@context":"http:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/wiki.edu.vn\/en\/wiki40\/credit-mobilier-wikipedia-2\/#BlogPosting","mainEntityOfPage":"https:\/\/wiki.edu.vn\/en\/wiki40\/credit-mobilier-wikipedia-2\/","headline":"Cr\u00e9dit Mobilier – Wikipedia","name":"Cr\u00e9dit Mobilier – Wikipedia","description":"The Cr\u00e9dit Mobilier (officially the Soci\u00e9t\u00e9 G\u00e9n\u00e9rale du Cr\u00e9dit Mobilier, lit.\u2009‘general company for movable [collateral-backed] credit’) was a French banking","datePublished":"2016-04-25","dateModified":"2016-04-25","author":{"@type":"Person","@id":"https:\/\/wiki.edu.vn\/en\/wiki40\/author\/lordneo\/#Person","name":"lordneo","url":"https:\/\/wiki.edu.vn\/en\/wiki40\/author\/lordneo\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/c9645c498c9701c88b89b8537773dd7c?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c9645c498c9701c88b89b8537773dd7c?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Enzyklop\u00e4die","logo":{"@type":"ImageObject","@id":"https:\/\/wiki.edu.vn\/wiki4\/wp-content\/uploads\/2023\/08\/download.jpg","url":"https:\/\/wiki.edu.vn\/wiki4\/wp-content\/uploads\/2023\/08\/download.jpg","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/1\/17\/Hotel_Ritz_Paris.jpg\/220px-Hotel_Ritz_Paris.jpg","url":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/1\/17\/Hotel_Ritz_Paris.jpg\/220px-Hotel_Ritz_Paris.jpg","height":"165","width":"220"},"url":"https:\/\/wiki.edu.vn\/en\/wiki40\/credit-mobilier-wikipedia-2\/","about":["Wiki"],"wordCount":3050,"articleBody":"  The Cr\u00e9dit Mobilier (officially the Soci\u00e9t\u00e9 G\u00e9n\u00e9rale du Cr\u00e9dit Mobilier, lit.\u2009‘general company for movable [collateral-backed] credit’) was a French banking company created by the Pereire brothers, and one of the world\u2019s most significant and influential financial institutions in the mid-19th century.The Cr\u00e9dit Mobilier had a major role in the financing of numerous railroads and other infrastructure projects by mobilizing the savings of middle class French investors as capital for vast lending schemes. Its operations resulted in vast debts for the countries which accepted its infrastructure loans, and the bank was thus indirectly involved in European encroachment on countries whose governments subsequently defaulted on these loans, not least during the worldwide economic depression of the 1870s.It became a powerful and dynamic funding agent for major projects in France, Europe, North Africa and the world at large. As Napoleon III redeveloped Paris, the Cr\u00e9dit Mobilier speculated on real estate with inside information and collaborated with  Baron Haussmann to develop neighborhoods such as rue de Rivoli, Op\u00e9ra, and place de l’Etoile.[1] Beyond France, it specialized in mining and railway development, for which it also funded or sponsored other banks including the Imperial Ottoman Bank and the Austrian Mortgage Bank,[2] as well as insurance companies and building contractors. The bank had large investments in transatlantic steamship lines, urban gas lighting, a newspaper and the Paris public transit system.In 1866\u20131867, the bank underwent a severe crisis and the Pereire brothers were forced to resign at the demand of their longtime adversaries in the Banque de France. The Cr\u00e9dit Mobilier never recovered its former importance.Table of ContentsCreation, development and collapse[edit]Later history[edit]See also[edit]References[edit]Further reading[edit]External links[edit]Creation, development and collapse[edit]  Certificate for 5 shares of 500 francs of the Soci\u00e9t\u00e9 G\u00e9n\u00e9rale de Cr\u00e9dit Mobilier, issued on 20 March 1866, signed by \u00c9mile Pereire. The doubling of Cr\u00e9dit Mobilier’s share capital in 1866 by issuing 120,000 shares was a last desperate attempt to save itself from the distressed situation, but the influx of 60 million francs of new funds only held off the collapse for a short while; this occurred in the autumn of 1867.Established in 1852,[3] the French Government sanctioned the statutes of the new bank with the name of the Soci\u00e9t\u00e9 G\u00e9n\u00e9rale du Cr\u00e9dit Mobilier, with a capital of 60,000,000 francs.[4] It was permitted to issue obligations up to ten times its assets \u2013 600 million francs of debt for 60 million francs of equity.[5] It was founded by the Pereire brothers with a view to countering James Mayer Rothschild’s alliance with the industrialist Paulin Talabot regarding competition for the railway expansion.[6] It was allowed to acquire shares of public companies, and to pay calls made upon it in respect of such shares by its own notes or obligations; also to sell or give in security all shares thus acquired.[7] The operations of the society were conducted upon a very extensive scale.[7] A joint-stock company operating on a principle of limited liability, its initial investments came from large industrialists, but its capital was vastly increased by accepting investments from the general public.[8][9]In 1854, it subscribed largely to the war loan of the French government, raised during the Crimean War, to the Grand Central Railway Company, to the General Omnibus Company of Paris, and to various other important projects. The dividend declared for 1854 was 12%. In 1855, it lent two sums to the government\u2014the one of 250,000,000 and the other of 375,000,000 francs. Its operations were vast during this year, and the net dividend declared amounted to 40%. The directors then proposed to avail themselves of their privilege of issuing their own obligations, and thought to issue two kinds of notes \u2013 the one at short dates, the other at long dates, and redeemable by installments. The proposed issue was to amount to 240,000,000 francs, but the public became alarmed at the prospect of so vast an issue of paper money, and in March 1856, the French government deemed it necessary to prohibit the proposed scheme.[7]The prohibition was a severe blow to the institution. In 1856, its dividends did not exceed 22%; in 1857, they were only 5%. Several attempts to resuscitate its credit failed, and finally, in November 1871, it was reorganized with a new board of management. In 1877, its assets were 77,000,000 francs, but its shares, the par value of which was 500 francs, sold for 200 francs only. During 1878\u201379, the capital was first reduced to 32,000,000 francs, and then increased to 40,000,000. In 1884, it was for a second time reduced to 30,000,000 francs, but the company never regained its losses.[7]Later history[edit]  Headquarters of Cr\u00e9dit Mobilier Fran\u00e7ais in 1913  In 1902, a group of investors led by Jacques de Lapisse acquired control of the Cr\u00e9dit Mobilier from the Pereire family and merged it with the Office des Rentiers, adopting the name Cr\u00e9dit mobilier fran\u00e7ais (CMF) for the merged entity. The CMF was initially headquartered at 3-5, rue Saint-Georges in the former seat of the Banque internationale de Paris\u00a0[fr], and moved in 1912 to a larger building at 30-32, rue Taitbout and 26, boulevard Haussmann, which is now the seat of the F\u00e9d\u00e9ration fran\u00e7aise des soci\u00e9t\u00e9s d’assurances\u00a0[fr]. The CMF was acquired in 1922 by the Banque de l’Union Parisienne.[10]See also[edit]References[edit]^ Kirkland, Stephane. Paris Reborn. pp.\u00a060\u201365.^ Ralf Roth; G\u00fcnter Dinhobl (2008). Across the Borders: Financing the World’s Railways in the Nineteenth and Twentieth Centuries. Ashgate. p.\u00a019. ISBN\u00a09780754660293.^ P.B. Whale –Joint Stock Banking In Germany: A Study Of The German Creditbanks Before And After The War Routledge, 22 Mar 1968 Retrieved 2012-06-02^ Quigley, Carroll (1966). Tragedy And Hope. New York: Macmillan. p.\u00a0519. ISBN\u00a00-945001-10-X.^ Kirkland, Stephane. Paris Reborn.^ L\u00f3pez-Morell, Migule \u00c1. (2015). Rothschild; Una historia de poder e influencia en Espa\u00f1a. Madrid: MARCIAL PONS, EDICIONES DE HISTORIA, S.A. p.\u00a0141. ISBN\u00a0978-84-15963-59-2.^ a b c d Gilman, D. C.; Peck, H. T.; Colby, F. M., eds. (1905). “Cr\u00e9dit Mobilier”\u00a0. New International Encyclopedia (1st\u00a0ed.). New York: Dodd, Mead.^ Newmarch, William, “On the Recent History of the Cr\u00e9dit Mobilier”, Journal of the Statistical Society of London, Vol. 21, No. 4 (December 1858), pp. 444-453^ Rines, George Edwin, ed. (1920). “Cr\u00e9dit Mobilier”\u00a0. Encyclopedia Americana.^ “Cr\u00e9dit mobilier fran\u00e7ais”. Biblioth\u00e8que nationale de France.Further reading[edit]Cameron, Rondo E. “The Cr\u00e9dit Mobilier and the economic development of Europe.” Journal of Political Economy (1953): 461-488. in JSTORExternal links[edit]"},{"@context":"http:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https:\/\/wiki.edu.vn\/en\/wiki40\/#breadcrumbitem","name":"Enzyklop\u00e4die"}},{"@type":"ListItem","position":2,"item":{"@id":"https:\/\/wiki.edu.vn\/en\/wiki40\/credit-mobilier-wikipedia-2\/#breadcrumbitem","name":"Cr\u00e9dit Mobilier – Wikipedia"}}]}]