Crédit Commercial Congolais S.A.
The S.A. Crédit Commercial Congolais was constituted on September 7, 1898, with a capital of 1,200,000 francs, this capital was represented by 12,000 shares of capital of one hundred francs. In addition, 12,000 dividend shares without value designation were created. The registered office was established in Antwerp (30-(1898)-93 to 98) - (21-(1899 T1)-89).
Out of the 12,000 capital shares of one hundred francs, 1,000 shares were attributed to the contributing company, the remaining 11,000 capital shares were subscribed to by the comparants:
Société anonyme L'Africaine, 3,000 shares; the company Brees et Janssens, 200 shares; the Nouvelle Banque de Mons, 500 shares; Messrs. Léon Croonenberghs, 700 shares; Léon Coetermans, six hundred shares; Louis De Ridder, 550 shares; L. Gilliot, 500 shares; Ern. Lowet, 500 shares; Messrs F.-L.- J. Jacobs, 400 shares; Louis Van de Put, 400 shares; Paternostre, 300 shares; Alfred and Arthur Roose, respectively 250 and 490 shares; Camille Ameye, 150 shares; Adolphe Béro, 200 shares; Adolphe Cahn, 50 shares ; Pierre Cardon, 50 shares; Edouard Ceulemans, 100 shares; Par Eugène Clerfeyt, 100 shares; Auguste Collet, 200 shares; Joseph Çouderé, 100 shares; Victor Dhanis, 200 shares; Simon de Burbure, 50 shares; Charles De Ridder, 200 shares; Albert De Winter, 50 shares; Camille D'heygere, one hundred and sixty shares; Maurice Foulon, 150 shares; Gustave Glorieux, 50 shares; Henri Gouzée, 50 shares; Emile Hoet, 100 shares; Frédéric- Marie-Joseph Jacobs, 50 shares; Théodore Jacobs, 50 shares; Jules Joris, 200 shares; Emile Lauwers, 50 shares; Alphonse Meeus, 50 shares; Jules Mussely, 50 shares; Louis Sano, 100 shares; Joseph Van Tichelen, 50 shares; Louis Volkaerts, 50 shares.
These shares were paid up by 25% and a sum of 275,000 was put at the disposal of the new company (31-(21/09/1898)-3636).
For the dividend shares, 10,000 shares were allocated to the subscribers, to be distributed among them as a benefit according to their agreements; the remaining 2,000 were allocated to the contributing Company (30-(1898)-93 to 98) - (21-(1899 T1)-89).
The Société anonyme des Produits Végétaux du Haut-Kassaï contributed to the Company all its buildings, warehouses, trading posts and factories in the lower and middle Congo, located in Matadi, Tumba, Léopoldville and N'Dolo, all free and clear.
For these contributions, the Société anonyme des Produits Végétaux du Haut-Kassaï received ;
1,000 fully paid-up capital shares and 2,000 dividend shares (30-(1898)-93 to 98) - (21-(1899 T1)-89).
First Board of Directors
Messrs. Alfred Roose, Arthur Roose, De Ridder, Camille d'Heygere, Maurice Foulon, Ernest Lowet.
Messrs. Camille Ameye, Edouard Ceulemans and Léon Gilliot (21-(1899 T1)-89).
To conduct commercial, industrial, and financial operations and all colonial enterprises, whatever their nature, in the Congo.
To carry out its object by directly operating these enterprises by creating establishments for their exploitation, or by lending its assistance to individuals or to associations already constituted or to be constituted in the form of joint stock companies, general partnerships, limited partnerships or limited liability companies, having as their aim colonial, commercial, industrial, financial, agricultural, mining, public works or transport enterprises.
To conduct all credit and treasury operations. To extend its activity to all colonial or other countries.
To be able to acquire the buildings necessary or useful for its business or any other, to obtain the enjoyment and exploitation by way of concession or lease or otherwise. To be able, in whole or in part, to alienate or concede establishments or concessions, to merge with other companies or to take an interest in them by purchase of shares or otherwise, to participate in the constitution of companies having for object enterprises or operations similar to its own, to make a transfer or contribution in any form whatsoever, of all or part of the company's assets (30-(1898)-93 to 98).
Changes in capital, event(s), participation(s), dividend(s), quotation
In the early days, the Company participated in the subscription in the Compagnie de la Guinée Portugaise (1,500 shares of one hundred francs) and a participation in the Horticole Coloniale for 30,000 francs. It was also interested in the Trust and in East Africa. An ordinary meeting was held in May 1899, the Company was waiting for the results of its holdings and of the operations received as contributions (21-(1899 T1)-89).
The Company's program included the organization of credit institutions and transport agencies in the Congo, the establishment of hotels and the creation of a shipping service on the Upper Congo. It bought two steamers, one of which sailed in January 1900, the second was being assembled.
The various companies in the Congo welcomed the Company's banking service; this extensive service required significant working capital, which could involve an increase in capital.
The 1901 fiscal year was difficult for the Company, goods were sold at a low price; a steamer was lost; the creation of the Kasai Company appropriated its clientele; the portfolio was at a loss, which included shares in Guinée Portugaise, Trust Colonial, Horticole Coloniale and Est-Africain; the actual loss was +/- 600,000 francs. The liquidation was postponed because of the anticipated resumption of business, an agreement with the State for the purchase of a steamer and a proposed merger with a French company.
In 1902, a Courtraise group filed a complaint against the administration for false balance sheet; the Board made itself available to the courts, but no decision was taken. The balance sheet could not be established, and the loss amounted to 500,000 francs (21-(1904 T1)-52).
Dissolution et liquidation
The General Assembly of June 20, 1904, decided to dissolve the company and to put it into liquidation.