BERLIN (Jul. 17)
The banking firm of Goldschmidt and Rothschild of which Ernest Wallach, vice president of the Central Union of German Citizens of the Jewish Faith is the director, announced today its merger with the Reichscredit Gesellschaft, a section of the government bank.
The merger is due to the firm’s wish to retire from the banking field, but leaders of the firm will maintain the closest association with the Reichscredit Gesellschaft, it is stated
The finances of the firm are in the best condition else the government bank could not have undertaken its obligations with the fullest guarantees, it is pointed out.
The firm of Goldschmidt and Rothschild has done much to link American capital with German.
The merger is featured in the entire press where it is emphasized that the firm is one of the strongest private banks in Germany. The Wallach family is praised for its energy in strengthening German finances.