Investitionssicherung eines Syndikatshändlers: Die Steenkolen-Handelsvereeniging und die Gründung der Gewerkschaft Sophia-Jacoba.

The article investigates the takeover of the Gewerkschaft Sophia Jacoba (GSJ) coal mining company in Hückelhoven, Germany, by the Dutch coal trading and redistribution company Steenkolen-Handelsvereeinging (SHV) in 1917. The author outlines the organization of the European coal industry before World War I, emphasizing the role of cartels and the problems of SHV to invest in GSJ against the wishes of its parent, the Rheinisch-Westfälisches Kohlen-Syndikat (Rhenish-Westphalian Coal Syndicate, RWKS), as well as the loosening of these restrictions during the war. She discusses SHV's investment, diversification, and risk management strategies. The German-Dutch Credit Treaty of 1920 is also addressed.