Rezension: Salings Börsenpapiere I. und II. Teil (Berliner Börse) 1925/26

Helene Lieser’s 1925 review of Salings Börsenpapiere I. und II. Teil (Berliner Börse) 1925/26 assesses a financial reference work through its responsiveness to monetary stabilization and its usefulness for studying German capital markets. Its established arrangement remains sound; the decisive virtue is updated coverage.

Der I. (allgemeine) Teil enthält bereits alle Neuerungen, die seit der Stabilisierung der deutschen Währung für den Wertpapierverkehr maßgebend sind.

English translation: Part I (the general section) already contains all the innovations that have become relevant to securities transactions since the stabilization of the German currency.

Lieser moves from the general section’s revised treatment of securities, foreign exchanges, and taxation to Part II’s gold opening balance sheets and annual accounts for 1924. Corporate organization receives particular emphasis:

Eine wichtige Neueinführung ist das Kapitel „Deutsche Konzerne“, das zum erstenmal eine Zusammenstellung der deutschen Konzerne bringt.

English translation: An important new addition is the chapter “German Corporate Groups,” which provides a compilation of German corporate groups for the first time.

Her hope that this chapter will expand identifies the handbook’s value beyond immediate trading needs: it supplies evidence for studying the German economy. Indexes of corporate officers and official exchange rates reinforce its practical utility. Yet she also reads its changing proportions historically: the section on newly added securities has contracted from three pages to less than one. This observation gives economic significance to a bibliographical detail and supports her recommendation of the work as a leading capital-market reference.