Csaba Domonkos, the permanent author of the Museum of the Stock Exchange, continued to work on the history of transport companies.
Among the transport companies, the railways were established between 1860 and 1870. The largest railway companies were imperial and royal companies. They were typically financed by issuing interest-bearing shares. To ensure that the companies could pay interest, the state guaranteed the payment of certain sums. As the railways that had been built could not even pay the interest, the railway companies were split into Hungarian and Austrian lines and in the late 1880s the two states nationalised them, with the Hungarian lines being managed by MÁV.
Several companies that served the railways were also listed on the stock exchange, typically leasing freight wagons. The story of one of them is the following:
For decades, the dominant company in Budapest's horse-drawn railway transport was the Budapest Road Railway Company, which was named after Mór Jellenik and later his son Henrik Jellinek. With the advent of electricity came its competitor, the Budapest Electric City Railway, led by Mór Balázs, which was responsible for the creation of the Kisföldalatti. You can now read more about its history and the Újpest lines: