NOTEBOOK “γ” (“GAMMA”)

ON ZAK’S BOOK GERMANS AND GERMAN CAPITAL IN RUSSIAN INDUSTRY

Conrad’s Jahrbücher für Nationalökonomie , etc. , III series, Vol. 49 (1915, January), p. 351.

| Small item (in “Miscellaneous”) by Waldecker on a book in Russian, by A. N. Zak , Germans and German Capital in Russian Industry (St. Petersburg, 1914)— (Zak director of the Central Bank of Mutual Credit Societies). | | | Zak |

| Total Share Capital in Russia: |
| --- |
| | (million rubles) |
| | Russian | Foreign | | Σ |
| (round figures) | 1903— | 41.7 | +16.8 | = | 58.5 |
| 1904—  — | 92.5 | 26.7 | 119.2 |
| 1905— — — | 64.3 | 8.0 | 72.3 |
| 1910— — — | 190.5 | 33.7 | 224.2 |
| 1912— — — | 371.2 | 30.3 | 401.5 |

| Number of Russian companies | ... | 1,237 | | capital = 410.3 |
| --- | --- | --- | --- | --- |
| foreign | ... | 196 | (“operating” in Russia) |

| These companies have their head offices in: |
| --- |
| Germany | — — — | 24 | companies | Switzerland . . . . . . . . . | 6 |
| Sweden | — — — | 3 | ” | Italy . . . . . . . . . | 1 |
| Britain | — — — | 33 | ” | Austria . . . . . . . . . | 3 |
| Holland | . . . | 2 | ” | Turkey . . . . . . . . . | 1 |
| Belgium | . . . | 70 | ” | U.S.A. . . . . . . . . . | 6 |
| France. | . . . | 48 | ” |

| Branches of Industry |
| --- |
| | German capital | Its profit |
| | (million rubles) |
| 1) Iron and steel . . . . . . . . . | 20 (1912) | 5.5 |
| 2) Machine building . . . . . . . . . | 11.5 | |
| 3) Engineering . . . . . . . . . | 38.5 | |
| 4) Soda . . . . . . . . . | ½ of total capital | |
| 5) Electrical . . . . . . . . . | 50 | |
| 6) Electrical engineering . . . . . . . . . | 57 | |
| 7) Gas . . . . . . . . . | 12.5=71.8% of total capital; |
| | +12.6% French | |
| | + 7.4% Belgian | |
| | + 8.2% Russian | |
| 8) Petroleum (Deutsche Bank) . . . . . . . . . | 20 | |
| 9) Textiles . . . . . . . . . | (34-50% in Moscow Gubernia and Baltic provinces) |