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Auction: SW1008 - Bonds and Share Certificates of the World
Lot: 289

Banca Cantonale Ticinese / Tessiner Kantonalbank in Bellinzona. 4%-Obligation 500 Franken. Bellinzona, 6. June 1888. Blankette. EF. The Banca Cantonale Ticinese was established in 1858 by the Cassa di Risparmio Ticino in order to facilitate trade and industry in Ticino. It was the first bank in the canton to offer all banking services, including the issuance of banknotes. The canton supplied 20 percent of the capital for founding the bank. From the beginning activity was difficult as the public did not seem to have much confidence in the new bank. Later bad investments made in Italy caused considerable losses. In 1890, it was discovered that the cashier had taken substantial sums for personal speculation. When this information was made public, there was a classic run on the bank, which resulted with a withdrawal of almost half of the bank’s deposits. In 1914 the crisis of the Credito Ticinese was fatal for the Banca Cantonale Ticinese. 16 Million Francs were lost, which resulted in the loss of 80 percent of all creditor funds.

Estimate
SFr150 to SFr170