originalni naučni UDK 336.714:338(497.11)"18/19" ; 330.34(497.11)"18/19" rad

PROMETNA BANKA A.D. U MODERNIZACIJSKIM

Prof. dr Vesna Aleksić

Institut ekonomskih nauka PROCESIMA U SRBIJI U Beograd [email protected] PRVOJ POLOVINI XX VEKA

Rad je deo istraživanja koji se izvodi na projektima „Izazovi i perspektive strukturnih promena u Srbiji: strateški pravci ekonomskog razvoja i usklađivanja sa zahtevima Evropske Unije“ (OI 179015) i „Evropske integracije i društvenoekonomske promene privrede Srbije na putu ka EU“ (III 47009), koje finansira Ministarstvo prosvete i nauke Republike Srbije.

Rezime

Ovaj rad je posvećen poslovanju Prometne banke a.d. kao prve banke mešovitog tipa u Srbiji koja se pored bankarskih poslova bavila i osnivanjem i finansiranjem preduzeća u oblasti drvno-prerađivačke, rudarske i metalurške industrije. Bila je pokretač modernizacijskih procesa u srpskoj privredi od početka XX veka, pre svega zahvaljujući uspešnoj poslovnoj viziji prvog čoveka ove banke, Miloša Savčića. Njegovo angažovanje na političkoj i privrednoj sceni Srbije omogućiće Prometnoj banci da se etablira kao bankarska institucija od autoriteta a posle Prvog svetskog rata da se nametne kao jedna od najjačih srpskih poslovnih banka u novoj Kraljevini SHS/Jugoslaviji.

Ključne reči: bankarstvo, trgovina, industrija, akcionarsko društvo, Samostalna radikalna stranka, Miloš Savčić

JEL: G21, N23, N24, L81

Rad primljen: 21.02.2013.

Odobren za štampu: 25.02.2013. bankarstvo 1 2013

12 original UDC 336.714:338(497.11)"18/19" ; 330.34(497.11)"18/19" scientific paper

PROMETNA BANKA A.D. IN THE MODERNISATION

Prof. Vesna Aleksić, PhD

PROCESSES OF SERBIA Institute of Economic Sciences Belgrade IN THE FIRST HALF OF [email protected] THE 20TH CENTURY

This work is a part of the research conducted within the projects “Challenges and perspectives of structural changes in Serbia: strategic direction of economic development and harmonisation with the European Union requirements” (OI 179015), and “European integrations and socio-economic changes in the Serbian economy on the road to the EU” (III 47009), financed by the Ministry of Education and Sciences of the Republic of Serbia.

Summary

This paper is devoted to the business activities of Prometna banka a.d. (Trading Bank), the first bank of a mixed type of operation in Serbia that was engaged both in the banking business but also in founding and financing enterprises in the field of timber-processing, mining, and metallurgical industry. The Bank initiated modernisation processes in the Serbian economy of the early 20th century, primarily thanks to a foresighted successful business vision of the leading man of this Bank, Milos Savcic. His engagement on the political and economic scene of Serbia allowed Prometna banka to establish itself as a banking institution of authority, and after the First World War to impress itself as one of the strongest Serbian business banks in the new Kingdom of Serbs, Croats and Slovenes/Yugoslavia.

Key words: banking, trade, industry, shareholding company, Independent Radical Party, Milos Savcic

JEL: G21, N23, N24, L81

Paper received: 21.02.2013

bankarstvo 1 2013 Approved for publishing: 25.02.2013

13 Uvod kreditnom zavodu, najstarijoj privatnoj banci u Srbiji, dominirali su članovi Srpske napredne Od 80-ih godina XIX veka Srbija doživljava stranke, dok su poslovnu politiku Beogradske ubrzanu modernizaciju. To je vreme kada se zadruge već od 90-ih godina XIX veka vodili grade prve železnice, formira stajaća vojska, ugledni funkcioneri Radikalne stranke. Na reformiše prosveta, pojavljuju prva industrijska prelasku vekova pojavljuju se još dve jake preduzeća i kada se oblikuju institucije sistema. privatne finansijske institucije (Izvozna i Ono što je u političkom smislu ispisalo istoriju Prometna banka) iz kojih se vremenom veoma Srbije poslednjih decenija XIX veka bile su jasno reflektovala ekonomsko-politička vizija upravo reforme naprednjaka ali i buna radikala novoosnovane Samostalne radikalne stranke. (poznatija kao Timočka buna 1883), neuspešni [V. Aleksić, Sprega države i akcionarskih rat sa Bugarskom 1885, borba oko donošenja banaka I, 109-122] U tom periodu je zapravo ustava koja je iznedrila slobodoumni Ustav najupečatljivija bila upravo generacijska iz 1888, kao i politički sukobi i dinastičke podela među radikalima i samostalcima. svađe koje su kulminirale ubistvom monarha „Vođe samostalaca bile su rođene šezdesetih i promenom dinastije (1903). Uz opštu i čak sedamdesetih godina XIX veka, što zapuštenost (u Srbiji je 1900. godine bilo samo je u godinama brzih promena doprinosilo 6% pismenog stanovništva) i manjak političke produbljavanju sukoba sa radikalskim vođama kulture, ipak je kod jednog dela srpske elite rođenim pretežno četrdesetih godina. U svojim postojala svest da se srpsko društvo i njegove tridesetim ili četrdesetim godinama života institucije neće približiti Evropi sve dok ne budu samostalci su, prirodno, drukčije razumeli stvoreni kvalitetni ekonomski preduslovi čije je svoje vreme od radikala koji su bili u poznim odsustvo zapravo kočilo svaki dalji ekonomski, pedesetim i šezdesetim godinama života“ [D. kulturni i politički razvoj Srbije. Stojanović, Party elites in Serbia, 129-143]. Kako se radilo o predominantno agrarnom Mlađi naraštaji srpske elite donosili su u Srbiju društvu, izuzetno malobrojna srpska elita one ideje koje su se formirale u okviru evropske istovremeno je je bila i politička i privredna. moderne krajem XIX veka, dakle u vreme kad To je značilo da su se sve podele na političkom su se oni u Evropi školovali. Vođe njihovih planu gotovo istovremeno oslikavale i na stranaka bili su ne samo u proseku 20 do 30 ekonomskom. Prva linija podela koju istoričari godina stariji od njih nego su i pripadali starijim uočavaju bila je ona na radikale i neradikale, političkim školama, zastupali su drugačije, odnosno na one koji su na samom kraju XIX veka često konzervativne ideje i načine vođenja došli na vlast i one koji su tada vlast izgubili. politike ali i ekonomije. Podela na radikale i samostalce, odnosno na Kako je u vreme začetaka kapitalizma u Srbiji vladajuću stranku i njene disidente koji su se uloga države u privrednom razvoju bila veoma iz stranke konačno izdvojili prvih godina XX ograničena, mladi samostalci su u privatnim veka, bila je druga linija podela. Poslednja je akcionarskim bankama videli dobar instrument bila generacijska podela, koja je istovremeno za finansiranje industrije u povoju. Međutim, podrazumevala i različit obrazovni nivo kao i u to vreme su akcionarski kapital uglavnom različito socijalno poreklo stranačkih vođa. Te posedovali imućniji trgovci starije generacije političke podele su u bitnim crtama određivale koji nisu prepoznavali značaj banke mešovitog politički ali i ekonomski život u tadašnjoj Srbiji. tipa, koja bi se pored klasičnih depozitnih „Bojile su svakodnevni žvot građana, stvarajući poslova bavila i osnivanjem i finasiranjem utisak da politikom dominiraju emocije, sopstvenih preduzeća, što je u Evropi onog lične razmirice i strasti partijskih vođa, što je vremena bio prevladavajći trend. Ipak, u moru savremenicima stvaralo utisak da je čitav život novoosnovanih malih akcionarskih banka u sveden na politiku i da od nje sve zavisi” [D. Beogradu krajem XIX veka, bilo je i onih koje nisu Stojanović, Party elites in Serbia, 129-143]. uspevale da se na tom politički turbulentnom Ove političke podeljenosti su veoma rano prostoru održe bez značajnije stranače podrške, počele da se ogledaju i kroz osnivanje prvih pa su lako postale meta mladih i ambicioznih

akcionarskih banaka u Srbiji. U Beogradskom samostalaca, poput Beogradske prometne banke bankarstvo 1 2013

14 Introduction be almost concurrently reflected in the economic sphere. The first line of division, identified by Starting in the 1880s, Serbia experienced an the historians, was the division into radicals accelerated modernisation process. These were and non-radicals, i.e. those who had come the times when the earliest railway lines were into power at the very end of the 19th century, constructed, standing army of the country was and those that had just lost that power. The formed, education reforms were undertaken, division into Radicals and Independents, i.e. the and the first industrial companies appeared, ruling party and its dissidents who had finally but when also the building-up of institutions of distanced themselves from the party during the the system was seriously undertaken. What had early years of the 20th century, was the second politically marked the history of Serbia during line of divide. The last line of separation was the last decades of the 19th century were actually a generation gap, which reflected a different the reforms conducted by Progressives, but also level of education as well, but also a different the rebellion of the Radicals (also known as the background and social provenance of the party Timok River Insurrection of the year 1883), and an leaders. Such political divisions were shaping unsuccessful war wagged with Bulgaria in 1885, in significant aspects political but also economic together with the struggle for the constitution life in Serbia of that time. “They were setting the that was to flourish in the free-minded tone for everyday life of their citizens, creating Constitution, promulgated in the year 1888, all an impression that politics was dominated by this accompanied by political confrontations and emotions, personal animosities and fervour dynastic squabbles, which were to culminate in of party leaders, which impressed on their the assassination of the ruling monarch and the contemporaries the feeling that the entire life change of dynasty on the throne (1903). In spite was being brought down to sheer politics, and of a general state of neglect (in 1900, there was that everything depended on politics alone.” only 6% of literate population in Serbia) and [D. Stojanovic, Party Elites in Serbia, 129-143]. a lack of political culture, yet one part of the These political divisions were very soon to Serbian elite did gain awareness that Serbian be reflected on the establishment of the earliest society and its institutions will not be able to shareholding banks in Serbia. In the Belgrade approach Europe for Crediting Institute, the as long as the good oldest private bank in quality economic Serbia, predominant prerequisites are membership not created, as their consisted of the absence stood as Serbian Progressive an obstacle to any Party supporters, further economic, while the business cultural, and political policy of the Belgrade development of Cooperative, that Serbia. started its work as Serbia was at that early as the 1890s, time a predominantly was conducted by agrarian society; the distinguished hence its officials of the exceptionally small Radical Party. At elite circle was both the transition of a politically and the two centuries, an economically what appeared were minded one. This another two strong entailed all the private financial divisions, present on institutions (Izvozna Miloš Savčić

bankarstvo 1 2013 the political scene, to banka i Prometna banka

15 Uloga Miloša Savčića u razvoju Prometne banke a.d.

Miloš Savčić bio je jedan od najvećih srpskih privrednika prve polovine XX veka. Rođen je 1865. godine u Resavi kraj Svilajnca. Njegov otac bio je dobrostojeći trgovac koji je svog sina rano poslao na školovanje, prvo u Beograd a zatim i na Visoku tehničku školu u Minhen. Nakon završenih studija, Stara zgrada banke u Uskočkoj 6 1889. godine, Savčić još pune dve Old building of the bank in Uskočka Street 50 godina rada inženjera Miloša Savčića 1889 - 1939, Beograd, 1939. godine ostaje u Nemačkoj gde radi kao inženjer na izgradnji bavarskih železnica. Godine 1891. vraća se u a.d. Ovu banku osnovala je 1895. godine grupa Srbiju i nakon odsluženja vojnog roka stupa u beogradskih trgovaca sa idejom da „prima na službu Opštine grada Beograda. Međutim, posle priplod i najmanje ušteđevine, i na taj način samo godinu dana službovanja odlučuje da uz uloženim kapitalom olakša promet u novcu finansijsku pomoć oca i strica započne sopstveni i u efektima, a naročito da radi na ojačanju posao otvaranjem „Inženjersko-arhitektonske trgovine, zanata i uopšte privrednog kapitala kancelarije“ u Beogradu. Da je politička bliskost u Kraljevini Srbiji“ [M. Kostić, 89]. Osnivači sa tada vladajućim radikalima bila od velike kapital iznosio je skromnih 400 hiljada dinara. važnosti, govori i činjenica da je mladog Savčića Međutim, od samog početka, rad ove banke za prvi posao angažovao upravo bogati trgovac pratili su organizacioni problemi zbog kojih i radikalski prvak Luka Ćelović. Veoma brzo su akcionari već 1899. godine zahtevali da se usledili su i novi poslovi projektovanja i gradnje kompletna Uprva smeni i na njihova mesta palata za bogate trgovce Jovana Jovanovića dovedu novi, sposobniji i u nekom smislu Šapčanina i Milana Pavlovića kao i kasacioniog politički aktivniji članovi. Na mesto predsednika sudiju Milutina Markovića. [50 godina rada, 9-17] postavljen je nekadašnji osnivač Narodno- Krajem XIX veka najveći problem u domaćoj liberalne stranke i direktor srpskih železnica privredi predstavljala je zategnutost u srpsko- Mihailo M. Popović, dok je čuveni trgovac i austrijskim odnosima koja je rezultirala član Glavnog odbora Srpske napredne stranke zatvaranjem ugarske granice za srpske svinje Nikola Spasić bio potpredsednik. Članstvo su pod izgovorom da su zaražene. Samo tokom upotpunjavali i ljudi poput jednog od prvih 1895. godine, granica je zatvarana tri puta a srpskih industrijalca Vase U. Jovanovića kao slična situacija se ponavljala i narednih godina. i trgovca i takođe člana Srpske napredne Ovako teške prilike primorale su vladu da i stranke Svetozara Jankovića (oca ministra sama počne da deluje u pravcu oslobađanja građevina Velizara Jankovića). U ovoj plejadi od ekonomske zavisnosti od Austro-Ugarske. starih i iskusnih privrednika naprednjaka, čija Prvo i najvažnije rešenje je bilo da se umesto se stranka ugasila 1898. godine, našlo se i dvoje živih svinja počnu da izvoze prerađevine, a izuzetno progresivnih mladih ljudi iz redova za to je bilo potrebno izgraditi klanicu. U tom radikala - novoizabrani generalni direktor cilju je vlada već 1895. godine donela Zakon o Mihailo Dragićević i novi član Nadzornog državnoj pomoći klaničkim preduzećima dok odbora Miloš Savčić. [Jugoslovenski Kompas, je novoosnovano Srpsko akcionarsko društvo za 333] Uskoro se pokazalo da su stari naprednjaci klanje i preradu stoke u Beogradu odlučilo da ostali dovoljno prijemčivi za nove ideje koje angažuje upravo Miloša Savčića da prouči će Beogradsku prometnu banku uvrstiti u red organizaciju klanica u Austriji i Nemačkoj. On najmoćnijih banaka u Srbiji. 1896. godine podnosi predračun i već godinu

dana kasnije dobija pravo na izgradnju ovog, bankarstvo 1 2013

16 – Export Bank, and Trading Bank) from where, enterprises, as was the trend that prevailed in in time, very early reflections started to arrive Europe at that time. Nevertheless, in an ocean regarding the economic and political vision of newly established small-scale shareholding of the newly established Independent Radical banks in Belgrade, by the end of the 19th century, Party [V. Aleksic, Connection between state and there were those that could not keep their head shareholding banks I, 109-122]. During that up in an politically turbulent environment period, the most outstanding feature actually without substantial partisan support, so they was the generation gap between Radicals and were soon to become an easy target for the Independents. “Leaders of the Independents young and ambitious Independents, the likes were born in the 1860s and even 1870s, the fact of the Belgrade Trading Bank a.d. (Beogradska which during the years of accelerated changes prometna banka a.d.). This bank was established only deepened their conflicts with the Radical in 1895, by a group of Belgrade merchants, with leaders, those personalities born mostly during the idea of having it “receive for breeding to the 1840s. The Independents, now in their age fruition of even the smallest savings, and with of thirties or forties, naturally perceived the so deposited capital facilitating trade in money time in which they lived very differently than and in securities, and especially having it work the Radicals, who were mostly men already on supporting trade, artisan handicrafts, and in their late fifties and sixties.” [D. Stojanovic, economic capital in general, in the Kingdom of Party Elites in Serbia, 129-143]. The younger Serbia.” [M. Kostic, 89]. The founding capital generation of the Serbian elite were bringing amounted to some modest 400 thousand dinars. into the country those ideas that were formed From the very beginning, however, the work of within the school of thought of an European this bank was to be burdened by organisational Moderna that prevailed late in the 19th century, problems, and as early as 1899 the shareholders thus at the time when they were finishing their demanded that the complete Board be replaced studies in Europe. Leaders of their parties and their posts filled with some new, more were not only some 20 to 30 years their elders, capable, and in a sense, politically more but they also belonged to an earlier political proactive members. The position of the Board school of thought, supporting different, often chairman was given to the former founder of conservative ideas and manner in which the National-Liberal Party and director of the politics should be conducted, but also how the Serbian railways, Mihailo M. Popovic, while the economy should be managed. famous merchant and member of the Main Board At the time when capitalism was in its of the Serbian Progressive Party, Nikola Spasic, infancy in Serbia, the role of the state in was appointed Vice-chairmen. Membership of economic development was very limited, the Board was filled by such personalities as and young Independents the likes of some of the top saw in private shareholding Serbian industrialists, Vasa banks a good instrument for U. Jovanovic, but also another financing industry that was merchant and member of the just starting to evolve. The Serbian Progressive Party, shareholding capital at that Svetozar Jankovic (father of time, however, was in the the Minister of Construction hands of wealthy merchants Works, Velizar Jankovic). of an older generation In this pleiad of old and who did not recognise the experienced Progressive importance that the bank of a businessmen, whose party mixed type was to have, the was to be extinguished in one that would be providing 1898, there were also two for classic depositing services, extremely progressive young but would also engage in people from amongst the setting up and financing ranks of Radicals – the newly Mihailo Dragićević

bankarstvo 1 2013 of individually owned elected director general,

17 za državu u tom trenutku najvažnijeg projekta se tamo postavljala nova uprava sastavljena od [V. Aleksić, Sprega države i akcionarskih nekada reformski raspoloženih naprednjaka, banaka I, 109-122]. Opozicija na čelu sa bio je sa ciljem realizacije upravo ovog velikog predsednikom Udruženja srpskih inženjera i važnog projekta. Međutim, ideja da Beogradska Tomom Seleskovićem, žestoko se suprostavila prometna banka osnuje sopstveno preduzeće bila favorizovanju Miloša Savčića i njegove firme, je toliko nova i revolucionarna da je odmah smatrajući da u inostranstvo treba poslati još naišla na veliki otpor Uprave. Naime, sukobi mladih stručnjaka. Međutim, nakon završetka unutar vodeće Radikalne stranke kao i nestalna izgranje klanice 1898. godine, koja je prema unutrašnja i spoljna politika mladog kralja projektu pored izgradnje glavne zgrade Aleksandra Obrenovića, samo su pojačavali podrazumevala i izgradnju „zgrade za berzu, atmosferu opšte neizvesnosti u Srbiji onog poštu, telegraf, kancelarije, radničke stanove, vremena i na taj način kočili svaku mogućnost pušnicu, obore i šupe, kanalizaciju, vodovod, ubrzanijeg ekonomskog razvoja. Savčić je, kaldrmisanje, hladnjaču, rampe, sapundžinice poput ostalih prvaka njegove generacije, koji su i sve ostalo“ [50 godina rada, 27], srpska javnost se prvih godina XX veka našli u novoosnovanoj bila je jednodušna u oceni da je Miloš Savčić Samostalnoj radikalnoj strnaci, dobro razumeo obavio povereni posao sa velikim uspehom. da unutarpolitički sukobi u Srbiji dobrim delom On je kapital stečen radom na ovako velikom proizilaze, ne samo iz želje različitih aktera da privrednom projektu, godinu dana kasnije se domognu vlasti, već i iz različitih pogleda većim delom uložio u akcije Beogradske prometne na rešavanje nacionalnog pitanja koje je trebalo banke a.d. gde biva postavljen najpre za člana da omogući da država ekonomski i politički Nadzornog pa zatim i Upravnog odbora banke. osnaži i oslobodi se prevelike zavisnosti bilo od Radeći na projektu klanice, Savčić je postao Austro-Ugarske ili od ruske carevine. „Velike svestan ogromne ekonomske zavisnosti Srbije nacionalne ambicije, frustracije zbog realnih od inostranstva, naročito kada je u pitanju bio odnosa snaga, česti ratovi, međunarodne krize, uvoz drvnog građevinskog materijala iz Austro- zategnutosti, pretnje, izneverevanja od strane Ugarske. Kao i u slučaju klanice, i ovde je bila starih i nepoverenje novih saveznika činili su neophodna izgradnja strugare koja bi značajno međunarodni okvir koji nije bio podsticajan smanjila cenu ovog materijala na domaćem za rešavanje pitanja društva i politike“ [D. tržištu. Njegov ulazak u Banku u vreme kada Stojanović, Ulje na vodi, 136] a posebno nije bankarstvo 1 2013

18 Mihailo Dragicevic, and the new member of the circumstances forced the government to start its Supervisory Board, Milos Savcic [Jugoslovenski own initiative aimed at liberation from economic Kompas, 333]. It was soon to be revealed that dependence on Austro-Hungary. The first and the old Progressives remained sufficiently foremost solution was, instead of live hog susceptible to the new ideas, which will lead export, to start with exporting pork processed the Belgrade Trading Bank soon to join the ranks meat, and to that end it was necessary to build of the most powerful banks in Serbia. abattoirs. Hence the government, as early as 1895, passed the Law on state assistance to the The role of Milos Savcic in the abattoir companies, while the newly established development of Prometna banka a.d. Serbian Shareholding Company for Slaughter and (Trading Bank a.d.) Processing of Livestock in Belgrade, decided to engage actually Milos Savcic to study the ways Milos Savcic was one of the leading Serbian in which abattoirs in Austria and Germany were businessmen in the first half of the 20th century. organised. In 1896, he submitted his report and He was born in 1865, in Resava near Svilajnac. the cost estimate, and only one year later, he was His father was an opulent merchant who had granted the right to start with construction of this, sent his son early on to do his studies, first in for the government at that time, major venture Belgrade, and then at the Superior Technical and the project of the highest national priority School in Munich. After completing his [V. Aleksic, Connection between state and the studies, in 1889, Savcic remained for another shareholding banks I, 109-122]. Opposition, two years in Germany, where he worked as headed by the president of the Association of an engineer on the construction of Bavarian Serbian Engineers, Toma Selakovic, fiercely railways. In 1891, he returned to Serbia, and opposed favouring of Milos Savcic and his after serving his military conscription duties, company, being of the view that some other he joined the administration department young experts should also be sent abroad. Once of the Municipality of Belgrade. However, the abattoir was completed, however, in 1898, after only one year of work, he decided with which according to the project, in addition to financial support of his father and uncle, to the construction of the main building was also start his own independent business by setting covering construction of “a building to house a up the company “Engineering-Architectural stock exchange, a post office, telegraph, offices, Offices” in Belgrade. That his political close housing accommodation for manpower, meat ties with the then-ruling Radicals were of great curing plant, pig sties, sheds and auxiliary importance, is best supported by the fact that storage buildings, sewage facilities, water young Savcic was given his first assignment supply, pavement of roads, a cold-storage room, actually by the wealthy merchant and one of entrance ramps, soap factory, and all the rest” the top Radical leaders, Luka Celovic. What [50 years of work, 27], Serbian public, in unison, was soon to follow were new jobs and tasks on judged Milos Savcic as a man who had carried design and construction of palatial buildings out the entrusted task with great success. and mansions for the rich merchants Jovan One year later, he invested most of his Jovanovic Sapcanin, and Milan Pavlovic, but capital gained through work on such a large- also for the Cassation Court Judge, Milutin scale commercial project, in the shares of Markovic [50 years of work, 9-17]. the Belgrade Trading Bank a.d., where he was By the end of the 19th century, the major appointed firstly a member of the Supervisory problem encountered by the domestic economy Board, and then a member of the Board of was the tension in the Serbian-Austrian relations Directors of the bank. While engaged in work which resulted in the closing of the Austro- on the abattoir, Savcic became aware of the Hungarian border for the Serbian hog exports enormous economic dependence of Serbia on under pretence that they were diseased. During the foreign partners, especially in case of import 1895 alone, the border crossings were closed of timber for construction works from Austro- three times, and similar situation prevailed and Hungary. Not unlike the case of the abattoir,

bankarstvo 1 2013 continued over the following years. Such tedious what was needed here was the construction of

19 ulivao poverenje privrednicima kada su u specijalnu žičaru u dužini od 6 kilometara, prvu pitanju bila velika finansijska ulaganja u takve vrste u Srbiji. Zahvaljujući tome, Strugara potpuno nove poslovne poduhvate. je mogla da podmiri najraznovrsnije potrebe Stoga, može se samo pretpostaviti koliko je domaćeg tržišta za čamovom i borovom snage, volje i samouverenosti trebalo da poseduje građom svih kvaliteta i dimenzija. U proseku jedan tridesetpetogodišnji inženjer da bi ubedio je zapošljavala između 120 i 280 radnika i bila veterane srpske privrede, poput Nikole Spasića, je jedna od najuspešnijih preduzeća drvno- u važnost osamostaljivanja srpske privrede i prerađivačke industrije u zemlji. [N. Vučo, izgradnju domaće industrije. Konačno, 1901. 295-301] godine Uprava odobrava izgradnju bančine Miloš Savčić je već 1903. godine postao strugare uz uslov da svaki eventualni finansijski potpredsednik Banke koja dve godine kasnije gubitak Banke, Savčić lično nadoknadi. Već podiže akcionarski kapital na milion dinara dve godine kasnije na obalama Dunava svoj i dobija ime Prometna banka a.d. Na veliko rad otpočela je prva veća parna strugara na poverenje ulagača je pored uspešnih bančinih teritoriji Kraljevine Srbije koja je svoje kapacitete poslova naročito uticala činjenica da je upisom neprestano proširivala sve do početka Prvog „lepog broja akcija“ jedan od akcionara banke svetskog rata. [J. R. Lampe, 258-260] postao i kralj Petar I Karađorđević. Iste 1905. godine Savčić postaje jedan od osnivača nove Pretvaranje Prometne banke a.d. u Samostalne radikalne stranake i narodni prvu poslovnu banku Kraljevine poslanik u Skupštini sve do 1911. godine. U Srbije međuvremenu, 1908. godine biva postavljen za ministra građevina gde je po mišljenju svojih Za potrebe snabdevanja Strugare Prometne partijskih kolega „preuredio Ministarstvo, dao banke oblom građom, Banka je još 1902. godine impuls javnim radovima, starajući se, uvek dobila od države pravo na eksploataciju kao inženjer i stručnjak, naročito o izgradnji državnih šuma na Tari, Crnom Vrhu i Zvezdi. saobraćaja u zemlji, podizanju novih drumova, Građa je odatle dovožena splavovima Drinom, mostova i veza“ [50 godina rada, 143]. Ovo Savom i Dunavom do kanala Strugare u preplitanje političkih i privrednih funkcija Beogradu. Godine 1908. Banka je i lično došla nije bila neuobičajena pojava u Srbiji onog u posed šuma na delu Tare u blizini Dervente. vremena ali je ipak u slučaju Miloša Savčića, „Ta šuma koju je g. Savčić kupio za Prometnu kao i njegovog partijskog kolege Milorada banku ležala je na takvim vrletima i bespuću da Draškovića, naročito izazivala podozrenje ni vrana ne bi mogla izneti drvce na Drinu“ [50 srpske javnosti. Velika prašina podigla se godina rada, 75]. Međutim, iskusni inženjer je oko dodeljivanja koncesija Prometnoj banci za za potrebe spuštanja građe do reke Drine a uz eksploataciju državnih šuma na planini Tari, pomoć nemačkih kolega projektovao i izgradio naročito u vreme izbora 1905. godine kada

Klanica u Beogradu Parna strugara Prometne banke u Beogradu Slaughterhouse in Belgrade Steam sawmill of Prometna Banka in Belgrade 50 godina rada inženjera Miloša Savčića 1889 - 1939, Beograd, 1939. 50 godina rada inženjera Miloša Savčića 1889 - 1939, Beograd, 1939. bankarstvo 1 2013

20 a saw mill for timber, which would significantly issues burdening society itself and its politics” lower the price of this material on the domestic [D. Stojanovic, Oil poured on water, 136], and market. His arrival at the Bank, at the time was especially disheartening for businessmen when the new top management was being when large-scale financial investments to be appointed from the ranks of the former reform- made into completely new business ventures oriented Progressives, was actually aimed at the were planned. realisation of this large-scale and important Hence, one can only imagine just how much project. The idea, however, that the Belgrade strength, will-power and self-confidence was Trading Bank should establish its own company, necessary for a thirty-five-year old engineer to was such a novel and revolutionary concept that have in order to convince veterans of the Serbian it immediately encountered great opposition economic scene, the likes of Nikola Spasic, of by the Board. Namely, the conflicts within the great importance that the positioning of the the leading Radical Party, and the ambiguous Serbian economy on independent grounds has, interior but also foreign policy of the young King through the construction of an autochthonous Aleksandar Obrenovic, only further intensified domestic industry. Finally, in the year 1901, an atmosphere of general uncertainty in Serbia the Board approved construction of the Bank- of that time, and in this way slowed down owned timber saw mill, on condition that any opportunity for an accelerated economic any eventual financial loss of the Bank would development. Savcic himself, not unlike the be covered by Savcic personally and solely. other leading personalities of his generation, Already two years later, located on the banks of who had found themselves during the initial Danube River, the first steam generated timber years of the 20th century in the membership saw-mill was put in operation in the territory of of the newly established Independent Radical the Kingdom of Serbia, which was to continue Party, understood well that the internal expanding its capacities throughout the time conflicts in Serbia were in good part resulting until the eruption of the First World War [J.R. not only from the wishes of different actors to Lampe, 258-260]. grab power, but also from divergent views on how the national question should be solved, Transformation of the Trading Bank that would allow for the state to gain its a.d. into the first business bank in the economic and political strength and free itself Kingdom of Serbia from an excessive dependency either on Austro- Hungary, or on the Russian Empire. “Great In order to cater to the needs of the Trading national ambitions, frustration with the real Bank Sawmill by supplying it with round balance of power, frequent wars, international lumber logs, the Bank had, as early as 1902, crises, tensions, threats, disappointment in the obtained from the state the right to exploitation old and mistrust of the new allies, all this was of the state-owned forests on Tara, Crni Vrh, painting an international landscape, that did and Zvezda Mountains. Timber from those not much inspire solution to be found for the locations was transported on board rafts down

Fabrika vagona Kruševac Industrija lima u Zemunu Railway Rolling Stock Factory in Kruševac Sheet Metal Rolling Mill in Zemun 50 godina rada inženjera Miloša Savčića 1889 - 1939, Beograd, 1939. 50 godina rada inženjera Miloša Savčića 1889 - 1939, Beograd, 1939. bankarstvo 1 2013

21 je u beogradskom listu Štampa objavljen čak poslanici su prihvatili podatke da bez toliko i pamflet u kojem je između ostalog pisalo: uloženih sredstava u žičaru i ostale saobraćajne „Telegram Tare Avali. Posestrimo, danas je naprave ne bi bila moguća eksploatacija ove pod tobom u Beogradu lom. Dični Beograđani dve šume“ [S. Vladisavljević, 61-84]. Jaša biraju sebi za poslanika mog istrebitelja Savčića. Prodanović, tadašnji ministar narodne privrede, Ogolela si od sekire znaš tog jada pa im bar pred Skuštinom je isticao da je „okolno ispričaj svoje muke... “ [Štampa, 13.12.1905.] stanovništvo našlo rada i zarade, godišnje oko Sumnje u bančinu neumerenu eksploataciju 300.000 dinara (...) prištedeli su svoje šume i četinarskih šuma na Tari kao i donošenje fiksnih zabrane jer su imali zarade više od rada nego cena drvne građe pod okriljem i zaštitom od prodaje svog drveta“ [S. Vladisavljević, 61- države, nastavile su se i narednih godina, čak 84], dok je poslanik Milutin Lukić isticao da je i pred govornicom Narodne skupštine. Tamo Prometna banka preporodila ceo kraj oko Bajine su se za favorizovanje Prometne banke u drvno- Bašte, da je 300 ljudi zahvaljujući njoj dobilo prerađivačkoj industriji u nekoliko navrata posao i da ona nije eksploatisala ni šume ni direktno optuživali i aktuelni ministri naodne seljake. U prilog tome je izneo podatak da su privrede Milorad Drašković i Kosta Glavinić. seljaci radeći na seči bančinih šuma dobijali 18 Posebno teška po bančin ugled bila je 1909. dinara nedeljno dok su lokalni „japijari“ plaćali godina jer su napadi bili usmereni na njenog svega 2 dinara nedeljno. potpredsednika a tada aktuelnog ministra Koliko god da su dnevnopolitički događaji građevina Miloša Savčića. Zbog toga je bila komplikovali poslovnu politiku Prometne banke, obrazovana specijalna stručna komisija koja je ona je već 1909. godine uz spretno Savčićevo pregledala bančine knjige i utvrdila da prilikom rukovođenje proširila svoju delatnost sa drvno- potpisivanja ugovora sa državom nije bilo prerađivačke industrije na brodarstvo i rečni nepravilnosti. „Nije bilo nikakve naklonosti prevoz peska i šljunka, tada veoma traženog u prema Banci, a to što joj je data mogućnost i uznapredovaloj građevinskoj industriji Srbije. seče na Tari, nije nikakva privilegija nego samo Iste godine osnovala je i Fabriku stakla za prozore obaveza da ona ulaže sve snage i sredstva i u Kostolcu. U tom periodu je Miloš Savčić prvenstveno poseče svu sečivu masu u te dve već uveliko bio i potpredsednik Upravnog šume. Za fiksnu cenu se opredelila da Banka ne odbora Privilegovane izvozne banke sa kojom bi zavisila od eventualne volje nekog ministra i Prometna banka 1911. godine osniva Društvo za da bi se izbegli mogući sudski sporovi. (...) užički tehnička preduzeća, koje na javnoj licitaciji dobija izgradnju pruge Niš-Knjaževac. Ova pruga je, iako u dužini od samo 60 kilometara, bila izuzetno zahtevna za gradnju jer je podrazumevala da na deonici od 20 kilometara bude izgrađeno 39 tunela i 20 mostova. Takođe, ona je imala veoma važan strateški značaj neposredno pred početak Balkanskih ratova. Ali, kako je izgradnja počela

tek u junu 1911. bankarstvo 1 2013

22 business, was especially boosted by the fact that by subscribing “to a nice number of shares”, one of the Bank’s shareholders was to become King Petar I Karadjordjevic. During that same year, 1905, Savcic became one of the founders of the new Independent Radical Party, and was to remain a national deputy to the Assembly until the Drina, Sava and Danube 1911. In the meantime, Rivers, and up to the Strugare in 1908, he was Canal in Belgrade. In 1908, the appointed Minister of Bank was even individually Construction Works, awarded the proprietary where in the opinion of rights over the forests in his party colleagues, “he parts of Tara Mountain, reorganised the Ministry near Derventa. “This and gave impulse to the forest, that Mr. Savcic public works, caring as had purchased for the always as an engineer and Trading Bank, was an expert, especially for the located on such craggy construction of transport and inaccessible out- facilities in the country, for of-the-way site, that building new roads, bridges even a crow could not and connection lines.” [50 take away from it its years of work, 143]. This smallest twig, and carry intertwined aspect of political it all the way down to Drina River.” [50 years and economic functions was not an infrequent of work, 75]. Being an experienced engineer, phenomenon in Serbia of that time, yet in however, Savcic designed and constructed a the case of Milos Savcic, and also his party lumber chute necessary for transporting timber colleague Milorad Draskovic, especially caused down to Drina River, with the assistance of his misgivings amongst the Serbian public. Great German colleagues, in the form of a special outcry emerged caused by concessions granted type of a lumber cable car, in the length of 6 to the Trading Bank for exploitation of state- kilometres, the first of its kind in Serbia. Thanks owned forests on Tara Mountain, especially at to this invention, the Sawmill could now cater the election time in 1905, when the Belgrade for the most diverse necessities of the domestic newspaper Stampa published even a pamphlet market in fir and pine-tree timber material, of stating, among other, the following: “Telegram all qualities and sizes required. Sawmill was sent from Tara Mountain to Avala Mount: Dear employing, on an average, between 120 and sister-mountain, today city of Belgrade, at your 280 workers and was one of the most successful foothill, is in chaos. Pompous Belgrade citizens enterprises in the timber and wood-processing are to elect as their deputy my exterminator industry in the country [N. Vuco, 295-301]. Savcic. You were rendered bare by the axe, so Milos Savcic, already in 1903, became vice- you know well this sorrow, but at least tell them president of the Bank, which was to raise its of sufferings that you had endured…” [Stampa, shareholding capital only two years later to 13.12.1905]. one million dinars and change the name into Misgivings about the Bank’s unrestrained Trading Bank a.d. Great depositors’ confidence exploitation of evergreen forests on Tara

bankarstvo 1 2013 in the Bank, in addition to successful banking Mountain, but also adoption of fixed prices of

23 godine do početka septembra 1912, odnosno do Upravnog odbora još 1905. godine postala mobilizacije pred ovaj rat, završeno je samo 42% osnivač Osigruavajućeg društva „Srbija“ u kojoj svih radova. Izgradnja je nastavljena i tokom su paralelno radili i neki od bančinih činovnika. Prvog svetskog rata, odnosno do evakuacije Ideju o osnivanju prvog osiguravajućeg društva u oktobru 1915. godine, kada je bilo završeno u Srbiji (ako izuzmemo odeljenje za osiguranje 90% svih radova. Cilj je bio da se uspostavi Beogradske zadruge) dao je kralj Petar I koji je veza od Niša do Dunava, s obzirom na to da „prvi upisao i uplatio 300 komada akcija od broja je železnica od Knjaževca, preko Zaječara i 1 - 300 na svoje ime“ [50 godina rada, 56]. Ovo Negotina, bila već gotova, čime bi i veza sa je svakako doprinelo velikom odzivu građana i savezničkom Rusijom bila osigurana. Drugi omogućilo da u veoma kratkom vremenskom primer zajedničke angažovanosti privatnog periodu ovo društvo stekne veliki uspeh. Kruna kapitala ove dve banke zabeležen je odmah po bančine uspešne poslovne politike svakako je bila završetku Prvog svetskog rata, kada su u cilju izgradnja nove palate na uglu Knez Mihajlove i proširivanja delokruga rada i uticaja na teritoriju Zmaj Jovine ulice, u koju se pred sam rat 1914. Stare Srbije (Kosova i Metohije) i Makedonije, godine smeštaju bančine kancelarije zajedno sa osnovali u Skoplju banku pod nazivom Izvozna kancelarijama Osiguravajućeg društva „Srbija“. i Prometna banka a.d. [V. Aleksić, Sprega države Nakon početka Prvog svetskog rata Banka je i akcionarskih banaka u Srbiji II, 112-130] uspela da sve svoje vrednosti i arhivu evakuiše Posredno, Prometna banka je preko članova iz Beograda u Niš, gde je predala Narodnoj banci koja je, zajedno sa svojom kao i imovinom Izvozne banke i Beogradske zadruge, prenela 1915. godine u Francusku. Iako ni Prometna banka nije radila tokom rata zabeležen je podatak da je u ovom peiodu preko Crvenog krsta u Švajcarskoj sa uložnih knjižica i tekućih računa uspela da svojim poveriocima isplati iznos od dva miliona dinara.

Zlatno doba Prometne banke a.d. 1920-1941

Nakon Prvog svetskog rata i smrti Mihaila Popovića i Nikole Spasića, predsednik Upravnog odbora Prometne banke a.d. postaje Miloš Savčić, koji uz svesrdnu pomoć generalnog direktora Mihaila Dragićevića od nje stvara jednu od najuspešnijih srpskih poslovnih banaka na teritoriji Kraljevine SHS/Jugoslavije. Iste godine osnivački kapital banke povećan je na 2,5 miliona dinara; naredne, 1921. godine, glavnica je Nova zgrada banke na uglu Knez Mihajlove 26 i Zmaj Jovine 12, sagrađena 1913. duplirana na 5 miliona dinara i to godine po projektu Danila Vladisavljevića New building of the bank at the corner of 26 Knez Mihajlova Street and 12 Zmaj delimično novom emisijom akcija Jovina Street, built in 1913 according to the project of Danilo Vladisavljević a delimično iz rezervnih fondova 50 godina rada inženjera Miloša Savčića 1889 - 1939, Beograd, 1939.

Banke. Iste godine u prostorijama bankarstvo 1 2013

24 timber under the auspices and protection of Regardless of how much the daily-political the state, continued over the following years, events complicated business policies of the even to be argued at the rostrum of the National Trading Bank, under the proficient leadership of Assembly. It was there that favouring Trading Mr. Savcic, it had already in 1909 expanded its Bank in the timber processing industry was, on business from the timber-processing industry several occasions, the opportunity to directly on to the shipping and the river transport of put the blame on the currently serving ministers sand and gravel, at that time very highly in of the national economy, Milorad Draskovic demand in a developing construction industry and Kosta Glavinic. Especially difficult for the in Serbia. During that same year, Window Glass Bank’s reputation was in 1909, as the attacks Panes Factory was established in the town of were directed at one of its vice-presidents, at Kostolac. During that period, Milos Savcic that time also current Minister of Construction was already for quite some time also a Vice Works, Milos Savcic. This gave rise to the President of the Board of Directors of the establishment of a special expert commission Privileged Export Bank, and in 1911, together which was tasked to examine Bank’s books with the Trading Bank, it established Technical and determine whether contracting deals Enterprises Society, which was awarded at the with the state involved any irregularities. public bidding the construction of the railway “There was no sympathy for the Bank, and line Nis – Knjazevac. This railway line, although the fact that it was given the opportunity to in the length of only 60 kilometres, was an cut timber at Tara Mountain was no privilege extremely demanding project for construction, at all, but only an obligation for it to invest all as it had to design also, along one stretch of its efforts and funds, and primarily cut all the 20 kilometres, the construction of 39 tunnels timber mass in those two forests. The fixed and 20 bridges. In addition, it also had a very price was the decision made by the Bank in important strategic position immediately prior order to avoid being dependent on eventual to the outbreak of the Balkan Wars. However, as whims of some cabinet minister, and in order the construction started only in June 1911, until to avoid any eventual court dispute. (…) early September 1912, i.e. until mobilisation Uzice town deputies have accepted the fact on the eve of this war, only 42% of all works that without such a large amount of invested were completed. Construction works were funds into timber transporting cable car and continued during the First World War, i.e. until other transport facilities it would not have the evacuation in October 1915, by which time been possible to collect lumber from those 90% of all works was completed. The aim was to two forests.” [S. Vladisavljevic, 61-84]. Jasa establish a connection link between Nis and the Prodanovic, at that time cabinet minister in Danube River, as the railway line to Knjazevac, the national economy, at the Assembly plenary via Zajecar and Negotin, was already finished, session stated the following: “Population in the which would also secure the link with Russia neighbouring area found work and source of as an ally. Another example of the joined earning, in an annual amount of some 300.000 venture of private capital of these two banks dinars (…), they have saved their own forests was recorded immediately after the First World and woods, because they had better gains from War, when for purpose of expanding its scope work than from sale of their own timber wood.” of work and influence on to the territory of Old [S. Vladisavljevic, 61-84]. Deputy Milutin Serbia (Kosovo and Metohija), a new bank was Lukic pointed out that the Trading Bank had established in Skopje under the name Export transformed the entire area of Bajina Basta, that and Trading Bank a.d. [V. Aleksic, Connection 300 persons found work thanks to the Bank, and between state and shareholding banks in Serbia that it did not exploit either forests or farmers. II, 112-130]. In support of his argument, he stated the fact Indirectly, Trading Bank, through its members that peasants working on the timber logging of on the Board of Directors, has as early as 1905 the Bank’s woods were receiving 18 dinars per become the founder of the Insurance Company week, while the local “japijars” (timber carriers) “Serbia” where some of the Bank’s staff was also

bankarstvo 1 2013 were paying them only 2 dinars per week. engaged in parallel employment. The idea of

25 Prometne banke osniva se Udruženje banaka rudnih polja. Godine 1930. Banka je od Đorđa Beograd na čije čelo dolazi upravo Mihailo Vajferta preuzela povlasticu nad rudnikom Dragićević, koji je tada bio i član Privrednog kamenog uglja Podvis koji je obuhvatao prostor saveta pri Ministarsvu trgovine i industrije. severno od reke Timoka i terena Tresibabe kao Jedan od ciljeva ovog udruženja bio je zajednički i povlastice nad obližnjim rudnikom Blagovesti. nastup srpskih banaka prilikom preuzimanja U ovim rudnicima radilo je oko 800 radnika i i nacionalizovanja Beočinske fabrike cementa i činovnika. Rudnici Tresibabe i Podvis posedovali Sartida putem otkupa izesnog broja akcija, kao su sopstvenu električnu centralu i veliku i finansijska pomoć prilikom osnivanja novih koloniju za stanovanje osoblja i radnika. U njoj banaka na oslobođenim teritorijama. [Fond je bilo smešteno vise od 100 porodica i preko 300 MTI-1131-2115] radnika-samaca koji su dobijali “sem besplatnog Veliko interesovanje koje je u srpskoj javnosti stana, ogreva i električnog osvetljenja, izvesnu vladalo za rad Prometne banke, omogućilo joj je površinu ziratnog zemljišta za bašte, besplatno” da već 1923. godine poveća nominalnu vrednost [50 godina rada, 109]. U koloniji je postojao akcije sa 250 na 500 dinara a osnivački kapital na magacin sa životnim namerinicama, mesara 10 miliona dinara. Miloš Savčić je 1925. godine i pekara kao i zajedničko kupatilo za rudare. prepustio mesto potpredsednika Upravnog “Uprava rudnika je uvek imala na umu da težak odbora Izvozne banke dr Vladi T. Markoviću i rad manuelnih radnika, posebno rudara, zahteva potpuno se posvetio unapređenju rada Prometne osveženje tela i duha da bi se sa što većom banke, čije novo polje interesovanja postaje voljom, energijom i lakoćom mogao svakog dana rudarska industrija. Naime, još tokom radova nastavljati. Ono što se danas u Nemačkoj čini na pruzi Niš-Knjaževac otkrivene su bogate preko pokreta “Kraft durch Freude” upravno naslage kamenog uglja u podnožju planine osoblje rudnika sprovodilo je u svom području Tresibabe. Već 1915. godine Savčić od države još ranije, imajući pred očima sve elemente za dobija povlasticu za eksploataciju 150 rudnih uspešan i zadovoljan rad” [50 godina rada, polja na ovoj teritoriji ali je rad zbog rata i 110]. Da se društvena odgovornost Uprave nije nedovršene železničke pruge morao biti odložen. ovim završavala govori i podatak da je u okviru Po povratka u zemlju, 1919. godine, Uprava kolonije postojala državna osnovna škola čiju je Banke osniva Društvo za eksploataciju goriva zgradu sa svim inventarom finasiraloDruštvo za koje već 1920. godine zahvaljujući završetku eksploataciju goriva kao i Rudarski dom u kojem se radova na pruzi, otpočinje eksploataciju ovih pored fiskulturne dvorane nalazila i biblioteka sa establishment of the first insurance company The Golden Age of the Trading Bank in Serbia (with the exception of the insurance a.d. 1920-1941 department at the Belgrade Cooperative) was given by King Petar I “who was the first to After the First World War and the demise of subscribe to 300 pieces of shares, from number Mihailo Popovic and Nikola Spasic, president 1 to number 300, in his own name.” [50 years of the Board of Directors of the Trading Bank of work, 56]. This had certainly contributed to a.d. became Milos Savcic, who had, with the the great and massive response of the citizens wholehearted support of the director general, and allowed, over a very short period of time, for Mihailo Dragicevic, created from this Bank one this company to attain great success. The crown of the most successful Serbian business banks of the Bank’s successful business policy was in the territory of the Kingdom of Serbs, Croats certainly construction of its new office building, and Slovenes/Yugoslavia. That same year, the a palatial mansion situated at the corner of Knew founding capital of the Bank was increased to Mihailova Street and Zmaj Jovina Street, where 2.5 million dinars; the following year, 1921, directly prior to the outbreak of the war, in 1914, the principal was doubled to 5 million dinars, the Bank’s offices were relocated together with and this in part through a new issue of shares, the offices of the Insurance Company “Serbia”. and partly from the reserve funds of the Bank. Upon the eruption of the First World War, the That same year, in the offices of the Trading Bank succeeded in evacuating all of its valuables Bank, the first Banking Association in Belgrade and archives from Belgrade to Nis, where they was established, to be headed by Mihailo were handed over to the National Bank, which, Dragicevic, who was at that time also a member in turn, together with its own valuables and of the Economic Council at the Ministry of assets of the Export Bank and Belgrade Cooperative, Trade and Industry. One of the objectives of this transferred them to France in 1915. Although the Association was to engage, in joint action of all Trading Bank was not operative during the war, a the Serbian banks, in the process of acquisition recorded fact was found that during that period, and nationalisation of the Beocin Cement Factory, and through the mediation of the Red Cross in and Sartid, through the repurchase of a certain Switzerland, it had succeeded in paying to its number of shares, but also through offer of creditors an amount of two million dinars from financial assistance during the establishment the deposit bank books and from the current of new banks in the liberated territories [Fond accounts. MTI-1131-2115]. čitaonicom. Ugalj dobijen u ovim rudnicima (100 nesumnjivo bi omogućila elektrifikaciju hiljada tona godišnje) bio je izuzetno pogodan za Južne Srbije, polet njene industrije, zaposlenje loženje parnih kotlova svih vrsta, te je plasiran ogromnog broja radničkog sveta koji je danas najviše rečnoj plovodni i Državnoj železnici, čiji često upućen u pečalbu van svog zavičaja pa i direktor je u period 1920-1921 bio upravo Miloš van otadžbine” [50 godina rada, 118]. Savčić [M. Kostić, 91]. Pored velikih finansijskih ulaganja u rudarsku Kada je u pitanju rudnik lignita “Kosovo”, industriju, Prometna banka je nastavila da ulaže u raspoloživi istorijski izvori ukazuju da je nakon svoje Brodarsko transportno preduzeće u Beogradu osnivanja Rudarsko-industrijskog akcionarskog i da širi učešće u drvno-prerađivačkoj industriji društva “Kosovo” 1923. godine, ovaj rudnik osnivanjem nove strugare u Bosanskoj Jagodini postao vlasništvo Prometne banke. On posebno 1927. godine, koja se nalazila u neposrednoj dobija na značaju od 1930. godine, kada je blizini bančinih šuma iznad Višegrada. Za otvoren veliki rudnik “Trepča” čije su električne prvih deset godina nakon rata, Banka je u centrale koristile upravo lignit iz ovog rudnika. preduzeća ove industrijske grane uložila 19 Za samo osam godina, u period od 1930. do 1938. miliona dinara. Godinu dana kasnije, na javnoj godine, proizvodnja se zahvaljujući bančinim licitaciji je kupila Fabriku vagona i gvozdenih ulaganjima u ovaj rudnik učetvostručila. konstrukcija u Kruševcu, koja je neposredno “Treba samo poželeti da se rudnik “Kosovo” i pre toga pala pod stečaj. Kako je Prometna banka u buduće razvija istim tempom kao što je bilo prethodno bila poverilac ovoj fabrici (u iznosu za prvih petnaest godina (…) Po proračunu od 7,2 miliona dinara), po istoj ceni je i kupila. pok Dr. Svetolika Radovanovića, profesora Nastojeći da razvije poslove izrade vagona univerziteta i našeg poznatog geologa, količina i gvozdenih konstrukcija, ona je fabriku iz uglja na opisanom terenu “Kosova” iznosi osnova rekonstruisala i modernizovala, uloživši okruglo devedeset miliona tona. Ako uzmemo za samo godinu dana u nju 21 milion dinara. da godišnja produkcija uglja na ovom rudniku Takođe, uspela je da joj obezbedi poslove za iznosi sto hiljada tona onda bi uglja na ovom potrebe Državnih železnica, kako u proizvodnji terenu i u ovom obimu rada bilo za devet novih vagona tako i u izgradnji gvozdenih vekova… eksploatacija rudnika “Kosovo” železničkih mostova. [Narodno blagostanje, bankarstvo 1 2013

28 Great interest that prevailed amongst the the hard work carried out by manual labour, Serbian public for the work of the Trading Bank especially miners, demands freshening up enabled the Bank, already in 1923, to increase of both body and soul, in order to function the nominal value of its share from 250 to 500 properly with renewed energy, every new dinars, and to raise its founding capital to 10 day. What is being done in Germany today million dinars. In 1925, Milos Savcic ceded the through, the movement “Kraft durch Freude”, position of the vice-president of the Board of administrative staff of the mine was conducting Directors of the Export Bank to Dr. Vlada T. in its own area much earlier, bearing in mind all Markovic, and devoted himself completely the elements needed for successful and happy to the promotion of work of the Trading Bank, labour.” [50 years of work, 110]. That the social whose new field of interest became corporate responsibility the mining industry. Namely, of the Board did not end even as early as the works on there is best illustrated construction of the railway by the fact that within line Nis-Knjazevac, some rich the colony, there was also deposits of hard coal at the foot a governmental primary of Tresibaba Mountain were school in operation, whose discovered. Already by 1915, construction, together with Savcic obtained a licence from all the necessary facilities, the state for exploitation of 150 was financed by the Fuel mining fields in this territory, Exploitation Society, and there but the works because of the war was also there a Miners’ and incomplete construction Home where, in addition to of the railway line, had to be the gym sports hall, there was postponed. Upon its return to a library with reading rooms. the country, in 1919, the Board The coal extracted from these of the Bank established the mines (100 thousand tonnes Fuel Exploitation Society, which per year) was extremely already in 1920, thanks to the suitable for heating steam completion of works on the railway line, started boilers of all kinds, and was supplied mostly exploitation works in these mining fields. In to the river shipping company and to the State 1930, the Bank took over from Djordje Vajfert Railways, whose director was actually Milos the privileged licence for the hard coal mine Savcic, in the period 1920-1921 [M. Kostic]. Podvis, which covered an area north of Timok As regards the lignite coal mine “Kosovo”, the River and the location of Tresibaba, as well as available historical sources point out that after the exploitation privileges over the nearby mine the establishment of the Mining and Industrial Blagovesti. In these mines, there were some 800 Shareholding Company “Kosovo”, in 1923, this workers and clerical staff employed. Mines mine became the property of the Trading Bank. Tresibaba and Podvis had their own electric It was to gain especially in importance starting power plant and a large colony for housing from 1930, when the major large-scale mine staff and workers. There were over 100 families “Trepca” was opened, with its electrical power accommodated there and more than 300 single plants using actually the lignite from this mine. labourers who were receiving “in addition to During a period of only eight years, from 1930- free of charge housing accommodation, also 1938, thanks to the Bank’s investments into this heating wood and electrical power, a certain mine, the production of the mine quadrupled. plot of arable land for gardening, all of this “It is only to be wished that the “Kosovo” mine free of charge.” [50 years of work, 109]. In the will also in future continue to develop at this colony there was a warehouse for food stuffs same pace as it has done during its first fifteen storage, a butcher’s shop and a bakery, and years (…). According to calculations of the late also communal bathrooms for miners. “The Dr. Svetolik Radovanovic, university professor

bankarstvo 1 2013 mine directorate always had in mind that and our distinguished geologist, the amount

29 svetskog rata da ovaj veliki privredni polet nije zaustavljen izbijanjem Velike svetske ekonomske krize, koja je u Kraljevini Jugoslaviji počela 1931. godine. Tada su posebno bila pogođena preduzeća u okviru drvne i metalurške industrije, što se odrazilo i na rad same Banke. Ona je bila prinuđena da svim svojim preduzećima poveća iznos kredita, a sama se poslužila lombardnim kreditom kod Narodne banke u iznosu od 940 hiljada dinara. Tako u njenom bilansu za 1932. godinu stoji da je plasmane u svoja preduzeća povećala (bilo kroz investicije, bilo kroz kredite, odnosno obrtni kapaital) sa 5 miliona na 45 miliona dinara i da kao i većina drugih banaka nije isplatila dividendu svojim akcionarima. [Fond MTI, 1131-2115] Za razliku od većine srpskih banaka, Prometna banka se nije koristila ni jednom od zakonskih olakšica u pogledu plaćanja svojih obaveza „niti je ikad zapala u 66-68] Međutim, to valove finansijske krize, koja je utopila veliki nije bilo dovoljno da se povrati uloženi novac broj kreditnih ustanova i preduzeća. Isplivala banke i ovo je bilo jedno od retkih bančinih je lako i dočekala bolje dane blagodareći jedino preduzeća koje je sve do početka Drugog tome što je - po intencijama i direkcijama svog svetkog rata poslovalo sa gubicima. predsednika - blagovremeno stvorila posebne Valorizacijom investicija i upotrebom rezerve, koj je plasirala u sigurne investicije i rezervih fondova, osnivački kapaital Prometne državne hartije od vrednosti, te je mogla da banke je 1928. godine povećana na 20 miliona se bori do kraja“ [50 godina rada, 118]. Nakon dinara, dok je rezervni fond premašivao stišavanja krize, 1936. godine, Prometna banka glavnicu i iznosio za ono vreme neverovatnih 22 prema projektu tada sedamdesetjednogodišnjeg miliona dinara. Već sledeće, 1929. godine, Banka Miloša Savčića osniva i svoje poslednje beleži najveći poslovni rast u poređenju sa svim preduzeće u međuratnom periodu, Valjaonicu ostalim srpskim bankama onog vremena i petu lima u Zemunu. Za nju se odmah nakon godinu za redom deli dividendu akcionarima izgradnje 1938. godine pokazalo da je bio u ukupnom iznosu od dva miliona dinara (u izuzetno unasan privredni poduhvat i kruna proseku oko 15 hiljada dinara po akcionaru, poslovnog uspeha ne samo Prometne banke nego s obzirom da prema tadašnjim zakonima i njenog predsednika. akcionar nije mogao da ima više od 10 akcija U jednom izveštaju koji je pravljen za u posedu; vrednost dividende je odgovarala predstavnike stranog kapitala koji su u iznosu šest prosečnih činovničkih plata). Kraljevini Jugoslaviji nameravali da osnuju [Narodno blagostanje, 66-68] Zanimljivo da je afilaciju svoje banke, među imenima još 1926. godine na Zboru akcionara traženo da najuglednijih privrednika u zemlji posebno se se iznos dividende sa dva poveća na tri miliona isticalo ime Miloša Savčića. O njemu se pisalo dinara što je Uprava odbila uz obrazloženje da kao o velikom akcionaru gotov svih značajnijih se „u rezervni fond ne sme dirati“ [Fond MTI, privrednih preduzeća u zemlji, članu Uprave 1131-2115]. Narodne banke, Prometno izvozne banke iz Skoplja, Osiguravajućeg društva "Srbija", potpredsedniku Zaključak i članu Uprave Beočinske fabirke cementa i Društva Sartid iz Smedereva kao i mogih drugih Možemo samo da pretpostavimo kakav bi privrednih preduzeća. Bio je ocenjen kao veoma

uspeh postigla bančina preduzeća do Drugog agilan i energičan privrednik, sa velikim bankarstvo 1 2013

30 of coal present at the described “Kosovo” that were operating, up to the beginning of the mine site, reaches a round figure of ninety Second World War, with losses. million tonnes. If we are to take that the annual Through valorisation of investments and coal production in this mine amounts to one the engagement of reserve funds, the founding hundred thousand tonnes, then the coal present capital of the Trading Bank in 1928, was increased on this site and in this scope of work would be to 20 million dinars, while the reserve fund available for nine centuries… Exploitation of surpassed the principal and amounted to, what the “Kosovo” mine would, beyond any doubt, was at that time an incredible amount, 22 million allow for electrification of the entire South dinars. Already the following year, 1929, the Serbia, boost the upsurge of its industry, and Bank recorded its highest business growth in offer employment to an enormous number of comparison with all the other Serbian banks of working population which is today often forced that time, and the fifth consecutive year paid the to seek work abroad, to leave its native land dividend to its shareholders in the total amount and work far from its motherland.” [50 years of two million dinars (in an average of some 15 of work, 118]. thousand dinars per shareholder, as under the In addition to large financial investments into laws in force at that time, a shareholder could not the mining industry, the Trading Bank continued hold more than 10 shares in his possession; the to invest in its Shipping Transport Company in value of this dividend was equal to the amount of Belgrade and to expand its participation in the six average clerical monthly salaries) [Narodno timber processing industry by establishing new blagostanje, 66-68]. It is interesting to note that saw mills in Bosanska Jagodina, in 1927, which even as early as 1926, at the Annual Shareholders was located in the immediate proximity of the Meeting, it was requested that the amount of Bank’s forests on the hill slopes above Visegrad dividend be increased from two to three million town. During the first ten years after the war, dinars, which was refused by the Board with the the Bank invested in enterprises of this industrial explanation that “the reserve fund must not be branch 19 million dinars. One year later, at the touched” [Fond MTI, 1131-2115]. public auction, it purchased Railway Rolling Stock and Iron Structures Factory in Krusevac, which had Conclusion just before the bidding gone into bankruptcy. Since the Trading Bank was previously the We can only imagine what a success all the creditor of this factory (in the amount of 7.2 Bank’s enterprises could have achieved until million dinars), it had purchased the factory at the Second World War, had this great economic that same price. In its efforts to develop business boom not been stopped by the outbreak of of the railway rolling stock and iron structures the World Economic Crisis, which impacted manufacture, it restructured Kingdom of Yugoslavia in from the very basis this factory 1931. Especially struck at that and modernised it, investing in time were the companies in the one year alone into this factory timber and metal processing 21 million dinars. In addition, industries, which had its it succeeded in securing deals effect also on the work of the for the factory to cater for the Bank itself. It was forced to needs of the State Railways, increase its crediting facilities both in production of the to all of its enterprises, and new rolling stock, but also in the Bank also availed itself construction of iron-structured of a Lombard credit with the railroad bridges [Narodno National Bank, in the amount blagostanje, 66-69]. However, of 940 thousand dinars. Hence that was not sufficient to return in its balance sheet for 1932 it the invested money of the is recorded that it increased Bank, and it was to be one of its placements into its own

bankarstvo 1 2013 the very few Bank companies companies (either through

31 ugledom i jakim ličnim vezama “naročito na dana pred početak Drugog svetskog rata, koji Dvoru, koje ne trebe zanemariti”. [V. Aleksić, je uništio dobar deo onoga što je tokom života Banka i moć, 40] Za njega se može reći da je bio gradio, dok su nakon 1944. godine i dolaska čovek koji je radio do poslednjeg dana života. novih socijalističkih vlasti, sva preostala Gotovo simbolično, sa životne pozornice je preduzeća Prometne banke preneta u državno otišao 11. marta 1941. godine, nepunih mesec vlasništvo.

Literatura / References

Knjige/članci / Books/Articles 7. Stojanović, Dubravka, Party elites in Serbia 1. Aleksić, Vesna S, Banka i Moć, Socijalno- 1903-1914. Their Role, Style of Ruling, Way finansijska istorija Opšteg jugoslovenskog of Thinking, Eliten in Sudosteuropa. Rolle, bankarskog društva a.d. 1928-1945, Stubovi Kontinuitaten, Bruche in Geschichte und kulture, Beograd, 2002. [V. Aleksić, Banka Gegenwart, ed. W. Hopken - H. Sundhaussen, i moć] München, 1998, 129-143. [D. Stojanović, 2. Aleksić, Vesna, Sprega države i akcionarskih Party elites in Serbia] banaka u Srbiji do Drugog svetskog rata - 8. Vladisavljević, Svetislav, Beogradska primer Izvozne banke A.D. (I) (Conection prometna banka u eksploataciji šuma between state and sherholdings banks in planine Tare od 1902. do 1932, Užički zbornik Serbia up to the Scond World War - Case - Prilozi za političku, kulturnu i ekonomsku study of the Export Bank ad (Part one), istoriju Užica i okoline, br. 20, Užice, 1991, 61- Bankarstvo, časopis Udruženja banaka Srbije, 84. [S. Vladisavljević] br. 9/10 2011, 106-122. [V. Aleksić, Sprega 9. Vučo, Nikola, Parna strugara Prometne države i akcionarskih banaka I] banke na Dunavu 1902-1941. godine, 3. Aleksić, Vesna, Sprega države i akcionarskih Godišnjak grada Beograda, knj. XXV, Beograd, banaka u Srbiji do Drugog svetskog rata - 1978, 295-301. [N. Vučo] primer Izvozne banke A.D. (II) (Conection between state and sherholdings banks Neautorizovana izdanja / Non-copyrighted in Serbia up to the Scond World War - references Case study of the Export Bank (Part two), 1. Analiza bilansa, „Narodno blagostanje“, god. Bankarstvo, časopis Udruženja banaka Srbije, II, br. 15, Beograd, 1930, 66-68. [Narodno br. 11/12 2011, 112-130. [V. Aleksić, Sprega blagostanje] države i akcionarskih banaka II] 2. Analiza bilansa, „Narodno blagostanje“, 4. Kostić M. Milivoje, Uspon Beograda II, god. IV, br. 14, Beograd, 1932, 85. [Narodno Beograd, 1994. [M. Kostić] blagostanje] 5. Lampe, John R, Jackson Marvin R, Balkan 3. Analiza bilansa, „Narodno blagostanje“, Economic History, 1550-1950. From Imperial god. VI, br. 16, Beograd, 1934, 71. [Narodno Borderlands to Developing Nations, Indiana blagostanje] University Press, Bloomington, 1982. [J. R. 4. Jugoslovenski Kompas, Financijalni dio 1919, Lampe]. 1920, Zagreb, 1921, 144, 333. [Jugoslovenski 6. Stojanović, Dubravka, Ulje na vodi. Politika Kompas] i društvo u modernoj istoriji Srbije, Dimić, 5. 50 godina rada inženjera Miloša Savčića Stojanović, Jovanović, Srbija 1804-2004, tri 1889 - 1939, Beograd, 1939. [50 godina rada] viđenja ili poziv na dijalog, Beograd 2009. [D. Stojanović, Ulje na vodi] Izvori / Sources 1. Arhiv Jugoslavije, Fond Ministarstva trgovine

i industrije (65) [Fond MTI, 1131-2115 bankarstvo 1 2013

32 investments, or credits, i.e. working capital) In one report made for the representatives from 5 million to 45 million dinars, and that it of the foreign capital who were intending did not pay dividend to its shareholders, just to establish an affiliation of their bank in the like the majority of the other banks had done Kingdom of Yugoslavia, amongst the names [Fond MTI, 1131-2115]. Contrary to the majority of the most distinguished businessmen in the of other Serbian banks, the Trading Bank country, especially outstanding was the name of did not use any of the legally Milos Savcic. He was described prescribed facilities regarding as a great shareholder in the payment of its liabilities, almost all of the significant “and neither had it ever fallen economic enterprises in into the waves of economic the country, member of the crisis, which had flooded Board of the National Bank, and sunk a large number of Trading Export Bank in Skopje, crediting institutions and Insurance Company “Serbia”, companies. It came out of this vice-president and member predicament easily and was to of the Board of the Beocin see much better days thanks Cement Factory, and Sartid solely to the fact that – at the Company in Smederevo, and intentions and directions a member on boards of many of its president – it had other economic companies. He very timely created special was qualified as a very agile reserves, which it placed into and energetic businessman, safe investments with great reputation and and sovereign strong personal connections, securities, and thus “especially well received at was able to fight the Royal Court, which is successfully to the not a negligible fact” [V. bitter end.” [50 years Aleksic, Bank and Power, of work, 118]. After 40]. He may also be the crisis subsided, descried as a man who by 1936, the Trading worked until the very last Bank, according to the day of his life. Almost project of the then- symbolically, he left the seventy one year old world stage on 11 March 1941, less than a month Milos Savcic, established its last company in before the eruption of the Second World War, the inter-war period, Sheet Metal Rolling Mill in which destroyed a large part of what he was Zemun. It was to be seen immediately upon its building throughout his life, while after 1944, construction, in 1938, that it was an extremely with the advent of the new socialist authorities, profitable venture and the crown of business all of the remaining companies of the Trading success of not only the Trading Bank, but also Bank were transferred into state ownership. of its president. bankarstvo 1 2013

33