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Publications of Salomatina Sofya
History magazine - researches, 2019-6
Salomatina S. - Commercial Banks and Agriculture in the Second Half of the 19th Century: a Statistical Analysis of the Operations of the Oryol Commercial Bank Compared with the State Bank of the Russian Empire pp. 151-178

DOI:
10.7256/2454-0609.2019.6.31310

Abstract: The article is focused on the little-studied problem of how Russian commercial banks, private and state-run, credited agricultural production enterprises and agricultural trade in the second half of the 19th century. The dominant economic theory during those years did not consider agriculture to be part of the commercial banks' responsibility, and this industry's clientele affiliation is poorly reflected in banking statistics. However, the actual contribution of banks in agricultural regions met the urgent needs of the economy. The author analyzes banking practices for servicing wholesalers and landlords using archived and published material of the Oryol Commercial Bank (1872-1908) and the branches of the State Bank of the Russian Empire operating in the governorates of Central Chernozem, South and West of European Russia. The article calculates the turnover of the two banks' operations related to providing services to agriculturers for 1866-1901. Based on this data, the author reveals a protracted economic crisis in the Oryol Governorate in the 1880s, linked to a fall in agricultural prices, unfavorable railway tariffs, and a series of low crop yields. As a result, in the 1890s, the Oryol Commercial Bank had expanded its network of branches outside the Oryol Governorate. Sharp fluctuations in the 1880s weighted down operations of exporting goods, while operations related to local consumption remained relatively stable, which disproves the so-called concept of “hungry exports”. The policy of the State Bank, which set out to expand banking services to agriculture in the 1890s, must be evaluated through the fact that similar operations undertaken by a private bank were significantly more developed in the territory under examination.
Historical informatics, 2019-4
Salomatina S., Garskova I.M., Valetov T.Y. - Interregional Payments of Oryol Commercial Bank in the Second Half of the 19th Century: Net Analysis pp. 122-147

DOI:
10.7256/2585-7797.2019.4.31020

Abstract: The article studies commodity-money flows in the Central Black Earth Region in the second half of the 19th century. To do this Network and geoinformation analysis are applied to the statistics of interregional payments of the Oryol Commercial Bank in 1874–1901. These statistics characterize, firstly, bank clients’ payments related to commodity sales to other regions (goods secured loan payments and bill discounting payments) and, secondly, clients’ payments for goods from other regions (transfers with locations stated). The network structure and geography of these commodity-money flows were analyzed in detail at three time points: 1874, the initial period, economically favorable for the region; 1885, the economic crisis in the area; and 1901, the last year when such payment statistics were published. The article concludes that commodity-money flows of the Central Black Earth Region served by the Oryol Commercial Bank were directed towards westward commodity railway exports. Initially it was Riga and Koenigsberg and by 1901 - many other settlements in western regions and along the western border of the Russian Empire near the railway. Backward commodity-money flows related to the import of goods into the Central Black Earth Region came from all the principal commercial and industrial centers of the Russian Empire. Such a commodity exchange model correlates well with the agricultural specificity of the Central Black Earth Region.
History magazine - researches, 2018-4
Salomatina S., Kulenkova E. - The Securities Market in Moscow in the 1910s: a New Look Through the Ryabushinsky Bank Archives pp. 33-57

DOI:
10.7256/2454-0609.2018.4.25404

Abstract: In this article, the author examines on a micro-level the securities market in Moscow in the 1910s. The author's focus is placed on the banking segment of this market, for which the main source is the complete set of bookkeeping records on demand loans guaranteed by securities (on-call credit) in the Moscow Bank (Ryabushinskiy Bank) for 1912. The research objects of this study are the clients (369 people), their accounts and the notes on the purchase and sale of securities on these accounts (12,406 transactions). Based on the results of the author's cluster analysis, the clients of the Ryabushinsky Bank differed in their behavioral patterns on the securities market: some clients bought securities only to open an account; others engaged in long-term investments; some sold their securities. In addition to this, the author identified a large and homogeneous in behavior group of stock speculators of different proportions. The stock speculation involved a special technique for buying shares with the subsequent quick sale. The author was able to identify a figurehead among the major clients, on behalf of whom the bank owners were speculating, as well as the group of securities market professionals who had direct access to the Moscow stock exchange and were more likely to serve their own clientele. Thus, the market of bank credit and the securities market were closely intertwined in Moscow in the 1910s, and the author's research was also able to demonstrate that the Moscow intermediaries had direct access to the St. Petersburg securities market, which broadens our understanding of how the regional securities markets worked in the 1910s Russia.
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