First Hungarian wool laundry and fine textile mill ltd

Parallel to the Reconciliation, the expansion and modernisation of the domestic textile industry, which had been promoted in the 19th century, became possible. This was necessary, as neither the state regulatory framework nor the Austrian and Czech competitors were favourable to competition, and it was feared that the sector would lose its former importance on the world market. It was for this reason that the First Hungarian Wool Washing and Donation Company was founded in 1868 by the Pesti Hazai Takarékpénztár and a few large landowners, to take on this fierce competition on a modern basis and with a joint force.

Until the end of the First World War, the company traded in domestic and imported wool. In 1876, the company won first prize at the Szeged and Philadelphia exhibitions for the production of shoddy, or shoddy made from wool grease, against similar products from Germany, France, England and the United States. The 1879 Works Report proudly reported that 'the number of farmers who have taken the assistance of the Society's Laundry and Trust Institute has increased considerably'. Including farmers from as far away as Bohemia and Moravia who had applied for a commission, there were 310 such commissioners, including several noblemen (Archduke Albrecht, Brunszvick, Csekonics, István Erdődy, etc.).

In the 1890s, the company was able to produce 20,000 metric tons of wool and 1,000 metric tons of cotton wool per year. Its products were exported to Austria, Germany, France and Russia. From 1908, the above production capacity was changed to 20 000 metric tons of washed wool and 500 metric tons of potash. A slight decline in the company's profits and share price occurred in the late 1890s and early 1900s.

In 1920, the shareholders decided to set up a post-manufacturing division, and the company continued to grow during this decade. It was in this context that Baron Adolf Kohner also held the post of chairman until the mid-1930s. In 1921 the following companies were founded. In 1926, this was supplemented by the Lana Konfekció ipari és kereskedelmi Részvénytársaság. The company was also involved in the establishment of the First Hungarian Comb, Spinning and Weaving Company Limited.

In 1928-1929 they were transformed into a full vertical plant. They were called by their previous name until 30 April 1929, after which the name was changed to the First Hungarian Wool Washing and Finishing Company Limited Company. The banking firm of Adolf Kohner and Sons played a major role in providing the financial conditions for the development. The company's development at this time and its importance on the domestic and international markets is demonstrated by the fact that by the 1930s it was exporting to many countries, including England, Austria, Yugoslavia, Palestine and Egypt.

In 1944, a third of the carding, spinning and finishing machinery was relocated to the village of Hort, where it was destroyed by fire. Nationalisation took place on 26 March 1948.

Sources

Mária Csapó:The nationalization of factories in the light of the documents of the Ministry of Light Industry, 1949-1952.Archives Publications, 2001, 72(1-2), 161-185.

Norbert Hlbocsányi: Theatre and Enterprise The Union Plc. and the money oligarchs of Pest. Fons (Source Research and Historical Aids) 2014, XXI(2).

Norbert Hlbocsányi: The Kohner family businesses. Studies from the Past of Budapest - 37. 2012. 43-76.

Ottó Mészáros (ed.): History of the 100 years old Wool Washer and Weaving Mill. From Shoddy to Trevira. Athenaeum Printing House. Budapest, 1968.

Great Hungarian Compass 1891-1944.

Press material 1891-1944.

Founded on 1 March 1868.

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Founders: the Pesti Hazai Takarékpénztár and some large landowners

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Main activity: wool trade and wool production

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Author: Róbert Szabó