DEUTSCHE BANK, The. The Deutsche Bank (Deutsche Bank in Berlin) was founded in 1870 with a capital of 15,000,000 marks. Its object, as stated in its charter, was (the trans action of all sorts of banking business, particu larly the fostering and facilitating of commer cial relations between Germany, the other European countries and over-seas markets?) Previous to its founding, German importers and exporters were dependent upon English and French banking institutions in the world mar kets — a serious handicap in that German bills were almost unknown in international com merce, generally disliked and subject to a higher rate of discount than English or French bills. The wisdom of its establishment is evident. Following certain difficulties and criticisms dur ing its early years, the Deutsche Bank in time established branches and connections that have given it an international standing. In 1873, after one failure and another partially success ful attempt, a branch was opened in London — a prime necessity for the establishment of credit in the world's money centre for the German trade. In addition, to keep in touch with the great promising export and import centres, branches were opened at Bremen (1871), Ham burg ( 1872), Frankfort-on-the-Main ( 1886), Munich (1889), Leipzig and Niiremburg (1905), and Constantinople (1909). In addition, it has two silent partnerships, known as and 77 deposit offices. Subsidiary offices have been founded in whole or part by the Deutsche Bank in the United States, Asia, South America (seven countries), Spain, Italy, East Africa, Central America and Mexico; the whole representing a large capital ization. In addition, communities of interest
have been established with 13 important banks throughout Germany, these last having 94 branches. Through its ramifications there is hardly a financial organization in any commu nity in the German Empire in which the Deutsche Bank has not some proprietary con nection; and no commercial country in which it has not an active or silent financial connection. In addition to its purely banking functions, it has representatives on the boards of German and foreign manufacturing and trading organ izations, many of which are pre-eminent inter nationally in their respective lines. This repre sentation in 1910 concerned 116 such institutions. The capital of the Deutsche Bank (1915) was 250,000,000 marks; surplus. 180,000,000 marks; and dividend 12% per cent. The capital power of the Deutsche Bank group (1908) was 786,858,095 marks, of which 588,900,800 marks constituted capital, and 197,957,295 marks surplus. Consult Riesser, J., (Die deutsche Grossbanken and ihre Konzentration) (1909) ; 'Germany's Economic Forces) (1913) ;