English Translation

- l2 Depreciation in the amount of K 450.580.05 is shown individually in the annual financial statements, which were reduced by the lower demand for money-raising costs and the continuation of the motor vehicle as a result of the sale of the vehicle. The measures of management by Mr. Oberrechnungsdirektor Rohm found visible expression in the business costs. The personal expenses K 137.296.15 against K 304.756.20 in the previous year as well as the material expenses K 30.091.05 against K 73.973.85 in the preceding year have been reduced by about 56%. Moneyly they amount to K 516.60 against K 1.172.90 in 1940. These costs are still too high compared with similar companies in the Reich, which is why the size of the company with 324 rental properties is still too small for the necessary administrative apparatus. The merger of the two companies is expected to improve the picture. Operating expenses at K 722.201.05 increased by 22% compared to the previous year. This is related to the home NC 36. Hausneister Wohnung was also used for the first time as an investment. With the maintenance costs K 172.813.10, the expenditure was 22% lower than in the previous year. This is due to the fact that the repairs had to be largely restricted as a result of the war in the reporting year. The cost interest rate increased by 3.8% at K 1,984,365.50. In fact, the mortgage interest rate resulting from the NC 36 is the additional expenditure K 258.217.90 while the bank interest, tenant interest and late interest rates " 185,177.29 less required K 73.040.61. As a result of the reduction of mortgage interest rates to 4 V2% and the new regulation of the Annuity Service, mortgage interest and repayments will be required in 1943 for approximately K 372,500.-- less.-