Scheurleer & Zoonen
Encyclopedia
Scheurleer & Zoonen was a company that was established at Wagenstraat-Spuistraat, the Hague, Netherlands
in 1804 by Willem Scheurleer. Willem traded in precious metals and during the course of the 19th century and the Scheurleer & Zoonen Bank
grew in size and respectability, eventually having in excess of 140 employees.
In 1880 Scheurleer & Zoonen became the official bankers to the Crown and counted the wealthiest members of Hague society among their clients. The bank opened their second branch in Scheveningen in 1881, first on Keizerstraat, later on Prins Willemstraat and in 1915 Scheurleer & Zoonen gained admission to the Amsterdam Stock Exchange
.
Finally, on the 11 April 1932, with an overreached credit
loan
after the First World War and problems in the market gardening and fishery sectors, Scheurleer & Zoonen closed down. The general economic malaise of the depression
years proved too great for Scheurleer & Zoonen and the remaining healthy sections were taken over by the Incasso-Bank. Incasso-Bank was taken over by the Bank of Amsterdam which would form the basis for ABN AMRO
.
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
in 1804 by Willem Scheurleer. Willem traded in precious metals and during the course of the 19th century and the Scheurleer & Zoonen Bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
grew in size and respectability, eventually having in excess of 140 employees.
In 1880 Scheurleer & Zoonen became the official bankers to the Crown and counted the wealthiest members of Hague society among their clients. The bank opened their second branch in Scheveningen in 1881, first on Keizerstraat, later on Prins Willemstraat and in 1915 Scheurleer & Zoonen gained admission to the Amsterdam Stock Exchange
Amsterdam Stock Exchange
The Amsterdam Stock Exchange is the former name for the stock exchange based in Amsterdam. It merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext, and is now known as Euronext Amsterdam.-History:...
.
Finally, on the 11 April 1932, with an overreached credit
Credit (finance)
Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...
loan
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
after the First World War and problems in the market gardening and fishery sectors, Scheurleer & Zoonen closed down. The general economic malaise of the depression
Depression (economics)
In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe downturn than a recession, which is seen by some economists as part of the modern business cycle....
years proved too great for Scheurleer & Zoonen and the remaining healthy sections were taken over by the Incasso-Bank. Incasso-Bank was taken over by the Bank of Amsterdam which would form the basis for ABN AMRO
ABN AMRO
ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis...
.