The branch of the Volga-Kama Bank in Tsaritsyn was opened a year after its establishment in St. Petersburg — on August 25, 1871. The founders had serious financial interests in the city. The establishment of the Tsaritsyn branch was also facilitated by the fact that the first chairman of the bank, Vasily Aleksandrovich Kokorev, was acquainted with the Town Mayor of Tsaritsyn, a merchant of the first guild, Ivan Vasilievich Melnikov.
Vasily Aleksandrovich Kokorev was also one of the co-owners of the Volga-Don railway, which was used for active freight traffic between the cities of Tsaritsyn and Kalach-on-Don. In addition, Vasily Kokorev was a co-owner of the steamship company “Caucasus and Mercury”, which had a large passenger and freight traffic in Tsaritsyn; he also conducted alcohol trade in this city.
Initially, the bank’s authorized share capital was set at 6 million rubles. However, the nominal share price proved to be too high. In a report dated April 5, 1872, a request was made “to petition the government to reduce the price of the bank’s shares by dividing the existing share of one thousand rubles into four shares of 250 rubles each”.
The shareholders of the Volga-Kama Bank mentioned the fact that many partners — merchants and managers in the Volga region — had expressed their interest in joining their ranks, but could not afford it due to the high price of their shares. Also, the founders believed that it was essential that all members of the bank’s branch accounting committees be the shareholders.
The report also highlighted the company’s performance. Initially, it was planned that the bank’s shareholders would receive eight per cent in dividends. However, the company’s first year of operation yielded substantially more — 106 rubles 70 kopecks per share, or almost 13.5 per cent per annum.
The Volgograd Regional Museum of Local History reconstructed the office of an employee of the Volga-Kama Bank at the turn of the 20th century. It also houses the company’s Charter and the report for the first 1870/1871 operating year.
Vasily Aleksandrovich Kokorev was also one of the co-owners of the Volga-Don railway, which was used for active freight traffic between the cities of Tsaritsyn and Kalach-on-Don. In addition, Vasily Kokorev was a co-owner of the steamship company “Caucasus and Mercury”, which had a large passenger and freight traffic in Tsaritsyn; he also conducted alcohol trade in this city.
Initially, the bank’s authorized share capital was set at 6 million rubles. However, the nominal share price proved to be too high. In a report dated April 5, 1872, a request was made “to petition the government to reduce the price of the bank’s shares by dividing the existing share of one thousand rubles into four shares of 250 rubles each”.
The shareholders of the Volga-Kama Bank mentioned the fact that many partners — merchants and managers in the Volga region — had expressed their interest in joining their ranks, but could not afford it due to the high price of their shares. Also, the founders believed that it was essential that all members of the bank’s branch accounting committees be the shareholders.
The report also highlighted the company’s performance. Initially, it was planned that the bank’s shareholders would receive eight per cent in dividends. However, the company’s first year of operation yielded substantially more — 106 rubles 70 kopecks per share, or almost 13.5 per cent per annum.
The Volgograd Regional Museum of Local History reconstructed the office of an employee of the Volga-Kama Bank at the turn of the 20th century. It also houses the company’s Charter and the report for the first 1870/1871 operating year.
