Catalogue description International Financial Society Limited

Details of Subsubseries within BH 1
Reference: Subsubseries within BH 1
Title: International Financial Society Limited
Note: The International Financial Society was organized in 1863 to invest in companies throughout the world on behalf of its members. Many prominent London Bankers belonged to the Society, including Robert Benson and Company, Glyn, Mills and Company, Samuel Dobree and Sons, Frederick Huth and Company, George Peabody and Company, Fruhling and Goschen, and Sterns Brothers. With Edward Watkin and Richard Potter heading the Society, the purchase of the stock of the Hudson's Bay Company was negotiated at the rate of £300 for each £100 of stock. The Society then reorganized the financial base of Company, capitalizing it at £2,000,000. Under this new organization the Society continued to have a prominent voice in the affairs of the General Court until after 1864. The Society was adversely affected by the financial panic of 1866, and by 1867, its shares and interest in the Company had dwindled to relative insignificance.

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