Julius Koritschoner
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Julius Heinrich Koritschoner (1891–1928) was an Austrian businessman and industrialist.
Koritschoner was born in Vienna on 26 February 1891, to Samuel Robert Koritschoner and Rebekka Amalia Koritschoner. His siblings were Robert Koritschoner, Hans Cory, Margarete Gretl Bienenfeld and Arnold Paul Koritschoner.[citation needed]
Career
In 1916, he was a reserve lieutenant in the infantry regiment.[1] His position in the war, as well as some decisions made following, helped him become wealthy. During the war, he advised the War Ministry regarding "ores and metals and thus came into close contact with the Austrian mining industry". Following the war, "he founded Montana-A.G., which helped him to become very rich". He also possessed a "large package" of shares for the Depositenbank and sat on the organization's board of directors. During this time, Koritschoner "was one of the richest men in Vienna, owned a large estate near St. Pölten and a villa in St. Wolfgang".[2] According to Die Juedische Wieden, "While other rich people tried to hide their wealth from the public eye, Koritschoner demonstratively displayed it. In the summer, the parties on his estate on Lake Wolfgang were a regular source of gossip." He spent the winters in Johann-Strauß-Gasse. His apartment there was designed by prominent architects Friedl Dicker-Brandeis and Franz Singer,[3] who was his cousin.[4]
In 1924, Koritschoner was general director of the Steierische Kohlenbergwerks AG in Vienna II, Lothringerstrasse 14.[5] By the stock market crisis of 1924, Koritschoner had "sold all his holdings and shares and invested in high-interest English railway securities".[2] However, he later made several miscalculations in lost a tremendous amount of money. By the time of his death in 1928, Koritschoner had immense debts.[3]
Near the end of his life, Koritschoner had begun abusing morphine and is said to have organized the trade of morphine and other drugs between Austria and Hungary, though he was still considered part of Vienna's upper echelon.[2] However, while making a large deal one day, a morphine syringe fell from his pocket, which lost him the trust of his colleagues and those with whom he was trying to negotiate.[4][6] The deal fell through, losing Koritschoner a lot of money.[4] In November 1928, Vienna police identified him in relation to drug smuggling.[2]
His Montana-A.G. fell into the hands of Emil Kahane (1886–1949)[6] (alongside Friedric Weill and Rudolf Steiner), whose grandson is now, after Aryanization[7] - as "the eleventh richest Austrian" applies.[8]