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Thunderbolt from a Clear Sky

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From Crisis to Crisis

Part of the book series: Palgrave Studies in the History of Finance ((PSHF))

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Abstract

This chapter deals with the outbreak of war in 1914, which exposed the poor quality and high geographical concentration of the acceptance business of some firms. The inconsistent and, in some cases, inequitable treatment of firms of foreign origin by the City establishment is examined. The organisational frailty of many merchant banks was also exposed at this time with many firms still operating as family-controlled partnerships often within narrow ethnic groups. The war thereby hastened the failure or slow decline of a number of these merchant banking firms.

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Authors and Affiliations

  1. Thomas Miller Investment, King’s College London, London, UK

    Brian O’Sullivan

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  1. Brian O’Sullivan
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Correspondence to Brian O’Sullivan .

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O’Sullivan, B. (2018). Thunderbolt from a Clear Sky. In: From Crisis to Crisis. Palgrave Studies in the History of Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-96698-4_3

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  • DOI: https://doi.org/10.1007/978-3-319-96698-4_3

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-319-96697-7

  • Online ISBN: 978-3-319-96698-4

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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