File:Insurance Policy of Cercle d’Orient (12966421025).jpg

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Description
English: Insurance policy of Abraham Pasha’s mansion known as the “Cercle d’Orient” on the Grande Rue de Pera (1893-1894)

(Ottoman Bank Museum)
When giving advances to high ranking bureaucrats the Ottoman Bank adopted a somewhat more lenient attitude compared to that offered to its general customers. On the other hand, the bank always tried to obtain some compensation for potential losses and delays. The collateral offered was almost invariably the same: arrears certificates (the most unreliable security for the bank), stocks and bonds, and real estate. Abraham Pasha, one of the wealthiest men of the time, had lost a fortune in gambling and stock market speculation and had ended up borrowing 88,000 liras from the bank. In return he had to pawn his entire stocks and bonds portfolio, together with his impressive mansion in Pera. Following his incapacity to repay his debt, the bank eventually seized both.
SALT Research, Ottoman Bank Archives

Beyoğlu Cadde-i Kebir’de “Cercle d’Orient” adıyla bilinen Abraham Paşa Konağı’nın sigorta poliçesi (Osmanlı Bankası Müzesi) Osmanlı Bankası yüksek mevkilerdeki bürokratlara avans verirken -diğer müşterilere göre daha esnek olsa da- daima karşılığında potansiyel zarar ve gecikmeleri karşılayacak bir teminat almaya çalışıyordu. Gösterilen teminatlar genellikle hep aynıydı: maaş senetleri (bankaya göre en güvenilmez teminat), esham ve tahvilat ile gayrimenkul. Varlıklı Abraham Paşa da bankaya borçlananlar arasındaydı. Kumar ve borsada bir servet kaybetmiş ve sonunda bankadan 88.000 lira borç almak durumunda kalmıştı. Buna karşılık, Pera’daki muhteşem konağıyla birlikte bütün esham ve tahvilat portföyünü rehin bıraktı. Borcunu ödeyemeyince banka tüm bu varlığa el koydu.

SALT Araştırma, Osmanlı Bankası Arşivleri
Date
Source https://www.flickr.com/photos/saltonline/12966421025/
Author SALTOnline
Permission
(Reusing this file)		 At the time of upload, the image license was automatically confirmed using the Flickr API. For more information see Flickr API detail.
Flickr sets
InfoField
  • Ottoman Bank Museum / Osmanlı Bankası Müzesi
Flickr tags
InfoField
  • SALT Araştırma
  • SALT Research
  • SALT Online
  • Sigorta Poliçesi
  • Insurance Policy
  • Beyoğlu
  • Cadde-i Kebir
  • Grand Rue de Pera
  • Cercle d'Orient
  • Serkldoryan
  • Büyük Kulüp
  • Abraham Paşa Konağı
  • Abraham Paşa
  • Osmanlı Bankası
  • Abraham Pasha's Mansion
  • Abraham Pasha
  • Ottoman Bank

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This image was originally posted to Flickr by SALTOnline at https://www.flickr.com/photos/60147353@N07/12966421025. It was reviewed on 11 July 2015 by FlickreviewR and was confirmed to be licensed under the terms of the No known copyright restrictions.

11 July 2015

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current23:19, 11 July 2015Thumbnail for version as of 23:19, 11 July 2015477 × 720 (65 KB)Fæ (talk | contribs)== {{int:filedesc}} == {{subst:chc}} {{information |description={{en|1=Insurance policy of Abraham Pasha’s mansion known as the “Cercle d’Orient” on the Grande Rue de Pera (1893-1894)<br> (Ottoman Bank Museum)<br> When giving advances to high r...

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