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The History of the Gancho S. Paraskov & Sons Banking House and the Gancho S. Paraskov & G. Yordanov Genchev Joint-stock Company – Kilifarevo between 1876 and 1923

Author

Listed:
  • Svetla Atanasova

    (Regional museum of history - Veliko Tarnovo, Bulgaria)

Abstract

Information about the activities of the banking house Gancho S. Paraskov and sons – Kilifarevo (1876-1910) and the joint-stock company “Gancho S. Paraskov and Gencho Yordanov Genchev” – Kilifarevo (1910-1923) are kept in the documentary fund of the company in the State Archives - Veliko Tarnovo. Banking house “Gancho S. Paraskov and sons” was established in Kilifarevo in 1876 and has as its object: opening of current accounts against personal and real guarantees, granting of loans against security with securities, precious objects and mortgage of real estate, collection of insurance policies and records, trade in checks and money transfers only for Bulgaria, exchange of foreign coins. The credit organization accepts short-term and long-term deposits at 5% annual interest. Together to this activity, the company trades with colonial, hardware and dyeing goods, wood, silk cocoons, flours and others. In 1910 the company expanded and restructured its operations. Since 13 October of the same year it has been officially listed in the Commercial Register as a joint stock company “Gancho S. Paraskov and G. Yor. Genchev”- Kilifarevo. The main partners and main shareholders of the economic organization are the sons of Gancho - Georgi and Stancho Paraskovi and their long - time employee Gencho Yordanov Genchev. The main activity of the newly formed company is manufactory trade. It maintains trade relations with numerous domestic suppliers from Turnovo, Svishtov, Rousse, Dryanovo, Varna and Sofia. Parashkovi's permanent clients include the inhabitants of Kilifarevo and Elena villages. On March 23, 1911, the company was granted a marketing authorization for silkworm grain. The joint stock company is a member of the Union of Bulgarian Joint-Stock Companies in 1920. The economic crisis of 1923 proved to be disastrous for the activity of the Kilifarevo company and it ceased its activity.

Suggested Citation

  • Svetla Atanasova, 2017. "The History of the Gancho S. Paraskov & Sons Banking House and the Gancho S. Paraskov & G. Yordanov Genchev Joint-stock Company – Kilifarevo between 1876 and 1923," Proceedings of the Centre for Economic History Research, Centre for Economic History Research, vol. 2, pages 456-473, November.
    • Handle: RePEc:ceh:journl:y:2017:v:2:p:456-473
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    Keywords

    banking house “Gancho S. Paraskov and sons”; joint-stock company “Gancho S. Paraskov and Gencho Yordanov Genchev”; Kilifarevo;
    All these keywords.

    JEL classification:

    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions

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