DM - Historische Gesellschaft der Deutschen Bank e.V.

in foreign currencies which were procured abroad and were passed on to customers in the
form of credits.
Acceptance Liabilities
The liabilities in respect of our Own Acceptances in circulation amounted to onIy
DM 14.8 million.
Loans taketz at Long Term
In line with the decrease in our Long-Term Lendings our Loans taken at Long Term have
also declined from DM 3 86.6 rnillion to DM 3 38.4 million.
Pensions Reserve
The drop from DM 126.7 million at the end of I 916 to m r 123.1 million is duc to the
meeting of current pension commitments.
Otber LiabiIio Items
Resewas for Special Purposes, including Tax Reserves and amounts which could not be
deducted from assct items in the Balance Sheet, are shown at DM 79.0 million.
Conhgent Liabilities
The Liabilities arising from G~arantees
show the considerable increase of DM 5 21.8 million to
a total of DM 1,337.8 dLion. A large Part ofthis increase represented Contingent Liabilities
assumed in respect of guarantees and letters of credit for our customers in conncction with
foreign trade.
The Eltdorsement Ldabilities on Bih of Exchange in cirtulation have been reduced from DM
3 r 7.4 rnillion to DM I 38.4 miliion.
The contingent liabilities in respect of possible calh on shares not yet fully paid up in companies
in A.G. or G.m.b.H. form amounted on 3 1st December, 195 7 to DM I 3 .o million.
Expenditure and Receipts
The further rise in coilectively agreed salaries with effect from 1st January, 195 7, and to
some extent also the engagement of additional staff which became necessary and the granting
of special bonuses, caused the Exjenditure on Personnel to rise by DM 11.0 million to DM
152,025,364.39.
The Exjenditure for Social Purposes, Welfare and Pensions was higher by DM 2,738,325.62,
and is shown at DM 2 5 ,z X 7,3 I 2. 3 6. The increase reflected both the growth of contribution pay-
ments due to the rise in collective salary scales and the raising of the income limit for obliga-
tory social insurance.
The Other Operating Expenses took DM j 1,097,427.5 r as against DM 46,722,412.54 in 1956.
The amount for 195 7 includes costs of repairing and maintaining bank premises.
Against the increased expenditure on salaries, taxes and other operating expenses there
were no corresponding additions to the receipts from lendings, and in particular to those from