St. Moritz, 1912

When this share was issued, St. Moritz was an aspiring tourist location with outstanding perspectives for the future. Prominent guests from all over Europe stayed in the former mountain village.

The luxury hotel «Charlton» opened in 1913. Already one year later, however, the First World War broke out. St. Moritz no longer had guests. The hotel got into financial difficulties and passed into the hands of the «Schweizerische Volksbank» [Swiss People’s bank].

After a short recovery phase the Second World War once again caused tourism to collapse. The share dropped to 1 Franc in 1946. But the Carlton survived even that. New owners again guided it to success. To this day it ranks among the luxury hotels of St. Moritz.