Northern Hungarian mining- and metallurgical ltd
The mining boom in the Borsod region began in the mid-19th century. The pace of development was significantly influenced by the boom in iron production in Diósgyőr and Ózdi on the one hand, and by the construction of railways on the other. Banks and entrepreneurs, recognising the potential of mining, set up a succession of joint-stock companies to exploit natural resources.
One of these was the Felsőmagyarországi Bánya- és Kohómű Részvénytársaság, which was founded in 1890 by the Hungarian Commercial Bank of Pest. The joint-stock company had mines in Bosnia (Szomolnok, Fojnica) and Transylvania (Botes) in the first half of the 1890s. These were purchased from the firm of Gerstle, Spitz et al. The company was then already exporting mined raw materials to Austria. By 1900, it was able to expand its mines with a mine in Kazaneseden, and by 1902 it was exporting raw materials to Germany and Russia, in addition to Austria. The amount of sulphur sand exported by the company shows that it was able to increase steadily from the mid-1890s to the end of the 1900s. This can be seen from the variation in the company's profits during these decades.
The company's position changed for the better in the second decade of the century. In 1913, in addition to the sulphur clay mines in Szomolnokhutan, Fojnica and Kénesd, it acquired the sulphur clay mines in Tekerő and Óradna, and in 1914 the sulphur clay mines in Ányes and Nagyalmásmindszent. As a result, the company's share price fluctuated between K 500 and K 800 in the decade before the First World War.
The mining work, which was seen as important to the war effort, was strongly supported by both the military leadership and the government. As a result, the company not only supplied the needs of the army, but also the chemical, pulp and paper industries of the Austro-Hungarian Monarchy. In August 1915, the military authorities requisitioned domestic production of sulphur cobalt and determined where the mined raw materials were to be shipped. Since, before the war, the Monarchy had imported some of the sulphur sand it needed from abroad, the State did everything in its power to ensure that the joint stock company's mines increased the quantities extracted. This made it possible, for example, to increase wages during the war and to provide workers with expensive allowances in view of high inflation. The company tried to employ prisoners of war in its mines, but this was reportedly unsuccessful.
After the First World War, the Treaty of Trianon forced him to nationalise some of his works. The sulphur and iron ore mines in Szomolnokhutan were transferred to Czechoslovakia, the sulphur and iron ore mine in Fojnica to Yugoslavia, the sulphur and iron ore mines in Kénesd, Tekerő, Óradna and Ányesi to Romania, as well as the copper and iron ore mines in Borpata, Borpatak and Miskia to Romania. As a result of the border changes, the Romanian sulphur and gold mines were 'nationalised' with the involvement of Romanian interests, and the company formed Pyrit Societate Anonima Romana de Mine, based in Cluj-Napoca, and Aurum Societate Anonima de Mine, based in Sibiu. In Czechoslovakia, the transformation of the plants was carried out by the formation of the Pyrit Mining and Coal Company Joint Stock Company in Bratislava and the Pyrit Sulphur Ore, Iron Ore and Copper Mine Joint Stock Company in Somolnok. In 1924, the operation of the sulphur mines in Oradna and Orodna was closed down due to the depletion of ore reserves in the mines. Meanwhile, the mines in Yugoslavia were temporarily closed until the implementation of 'nationalisation' was completed. In 1927, the joint-stock company extended its operations to Trianon Hungary and acquired the Nemesgulác Basalt Mine and the Verpelets Quarry.
The economic crisis had a significant impact on the company's operations.In 1931, demand for the ores produced by the company's mines fell. During the Second World War, the company's operations again experienced difficulties: in 1942, the mines in Yugoslavia were adversely affected by the war. This is illustrated by the graph showing the company's profits.
After the Second World War, the company was nationalised as a joint-stock company owned by the Hungarian Commercial Bank of Pest and all its mines.
Sources
Great Hungarian Compass 1893-1944.
Press material 1890-1944.
Founded in 1890
Termination time not set
Founders: the Hungarian Commercial Bank of Pest
Securities issued:
| Northern Hungarian mining- and metallurgical ltd |
Decisive leaders:
1895-1900 | Dr. Péter Matuska |
1901-1919 | Leó Lánczy |
1920-1937 | Fülöp Weisz |
1938-1940 | Dr. IStván Bárczy |
1941-1944 | Antal Weyend |
Main activity: mining of raw materials
Main products:
sulphuric sand, cement marl, iron and copper ore, iron ore and gold ore |
Seats are not configured
Locations are not set
Main milestones are not set
Author: Róbert Szabó
Founded in 1890
Founders: the Hungarian Commercial Bank of Pest
Decisive leaders:
1895-1900 | Dr. Péter Matuska |
1901-1919 | Leó Lánczy |
1920-1937 | Fülöp Weisz |
1938-1940 | Dr. IStván Bárczy |
1941-1944 | Antal Weyend |
Main activity: mining of raw materials
Main products:
sulphuric sand, cement marl, iron and copper ore, iron ore and gold ore |
Seats are not configured
Locations are not set
Main milestones are not set
Author: Róbert Szabó
Northern Hungarian mining- and metallurgical ltd
The mining boom in the Borsod region began in the mid-19th century. The pace of development was significantly influenced by the boom in iron production in Diósgyőr and Ózdi on the one hand, and by the construction of railways on the other. Banks and entrepreneurs, recognising the potential of mining, set up a succession of joint-stock companies to exploit natural resources.
One of these was the Felsőmagyarországi Bánya- és Kohómű Részvénytársaság, which was founded in 1890 by the Hungarian Commercial Bank of Pest. The joint-stock company had mines in Bosnia (Szomolnok, Fojnica) and Transylvania (Botes) in the first half of the 1890s. These were purchased from the firm of Gerstle, Spitz et al. The company was then already exporting mined raw materials to Austria. By 1900, it was able to expand its mines with a mine in Kazaneseden, and by 1902 it was exporting raw materials to Germany and Russia, in addition to Austria. The amount of sulphur sand exported by the company shows that it was able to increase steadily from the mid-1890s to the end of the 1900s. This can be seen from the variation in the company's profits during these decades.
The company's position changed for the better in the second decade of the century. In 1913, in addition to the sulphur clay mines in Szomolnokhutan, Fojnica and Kénesd, it acquired the sulphur clay mines in Tekerő and Óradna, and in 1914 the sulphur clay mines in Ányes and Nagyalmásmindszent. As a result, the company's share price fluctuated between K 500 and K 800 in the decade before the First World War.
The mining work, which was seen as important to the war effort, was strongly supported by both the military leadership and the government. As a result, the company not only supplied the needs of the army, but also the chemical, pulp and paper industries of the Austro-Hungarian Monarchy. In August 1915, the military authorities requisitioned domestic production of sulphur cobalt and determined where the mined raw materials were to be shipped. Since, before the war, the Monarchy had imported some of the sulphur sand it needed from abroad, the State did everything in its power to ensure that the joint stock company's mines increased the quantities extracted. This made it possible, for example, to increase wages during the war and to provide workers with expensive allowances in view of high inflation. The company tried to employ prisoners of war in its mines, but this was reportedly unsuccessful.
After the First World War, the Treaty of Trianon forced him to nationalise some of his works. The sulphur and iron ore mines in Szomolnokhutan were transferred to Czechoslovakia, the sulphur and iron ore mine in Fojnica to Yugoslavia, the sulphur and iron ore mines in Kénesd, Tekerő, Óradna and Ányesi to Romania, as well as the copper and iron ore mines in Borpata, Borpatak and Miskia to Romania. As a result of the border changes, the Romanian sulphur and gold mines were 'nationalised' with the involvement of Romanian interests, and the company formed Pyrit Societate Anonima Romana de Mine, based in Cluj-Napoca, and Aurum Societate Anonima de Mine, based in Sibiu. In Czechoslovakia, the transformation of the plants was carried out by the formation of the Pyrit Mining and Coal Company Joint Stock Company in Bratislava and the Pyrit Sulphur Ore, Iron Ore and Copper Mine Joint Stock Company in Somolnok. In 1924, the operation of the sulphur mines in Oradna and Orodna was closed down due to the depletion of ore reserves in the mines. Meanwhile, the mines in Yugoslavia were temporarily closed until the implementation of 'nationalisation' was completed. In 1927, the joint-stock company extended its operations to Trianon Hungary and acquired the Nemesgulác Basalt Mine and the Verpelets Quarry.
The economic crisis had a significant impact on the company's operations.In 1931, demand for the ores produced by the company's mines fell. During the Second World War, the company's operations again experienced difficulties: in 1942, the mines in Yugoslavia were adversely affected by the war. This is illustrated by the graph showing the company's profits.
After the Second World War, the company was nationalised as a joint-stock company owned by the Hungarian Commercial Bank of Pest and all its mines.
Sources
Great Hungarian Compass 1893-1944.
Press material 1890-1944.