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jmmam mom m m m : m m m . a m ot Koamfoiffs * Minneapolis ,Uiim. , Jan. 3 , 1915. 10 the Directors, /aderal Reserve dank of Minneapolis* Oont leaemDuriag the past month and aa near to .«»camber 31 as possible all the <iepartn»unta of the bank hare bean examined, the detail of whloh foilowsi BIU.S DISCOUNTS!) as of 2>eo. 28, 1915 (Proven) Discounts for awmber banks Acceptances Purchased $ 1,328,986.36 .. f 1,786,504.00 Included la discounts for ateabar banks are items amount tng to #240,366.86 which are in thu oourae of collect im and being verified. Average daily earning* daring Dec. on diacouuts $ 184,80 " " " " M " acceptances 28.06 nsirj? srAgi-a m um ,.uh Haas (Pee. s i ,m 5 ) Reg. ZjL U .;i, Bonds - Panama Canal Loan 1906-1936 $ 50,000. Heg. 2$ U .J, Consols - fjoan of 1900-1930 978,000. Hog, 3p U» £ Bonds - loan of 1898*1918 i ...u t i j w l $ 1,308,820. Average daily earning daring Decesaber on U, Zm Hands £ 75. D6 Mva31SS«f3 (Close of basineM Dee.31,1916. Warrants of states and Municipalities ( List given on mcfcra shett} Average daily earnings during December on Investments $ 64,13 ,*wana wffji m m mm m jm z u M M u m m L M m All statement a rendered Deo. 31, 1916 are in control with ledger balances and all accounts with other banks reoonoiled daring the sonth of December. Oisi 01 M ff,' Statement of aoneya hold In different ooqpartaont a as of T%MaSh«r 31, 1915 4howa on separate A M t , Caah in haads of ?eller f »owai in detail unde** date of Bee. 29, 1915. m m . QA3K m mmiovr or mbsmi, jmmoBunksma^ Of #19,000,000 In federal Reserve Votes received from troller of the Currency #6,000,000 raiaaina in hands of igent. #10,000,000 in gold has been deposited by the bask to retire out standing notea and the balance $4,000,000 has beaa wlth&raam from the Sold $wa& duo the bank at 'Taahingtoa, and deposited to the oredit of the federal Hesorve Agent (see extra sheet for particulars}, The holdings of osaiber banks have been verified as of Deo. 31, 1916, the total paid in being #2,546,560. aa&e op as fallows) l&a*& Michigan Klanesota Montana forth Dakota South Dakota Wisconsin Iff. 9 fttfcf 81 279 6ft 162 119 88_ 735 gO^JBHA-tik 4 1 A .8 0 0 . 1,360,900. 240,960. 239,100. 200,960. ..... MfiJttfla. 2,646,560. « The aooraod dividends Deoeaber 31, 1916 are approximately #136,000. AVE RAGE DAILY U JW im S hHP CPBRFItf VifrW-Vt BA: £P Qg DECEMBER BU IflESff i Daily m rnings from dlsoounts " * " M etpUnoti " * 0 . S. Bonds " " " Warrant* " " " Exchange # 184.60 25.06 78.96 84.13 $390.39 Daily current expense 230.00 # 160.88 $68,400.00 Yearly Earning basis ©Ter Current Expanses PROFIT AMP LO^S ACQOPKT J0H1 30.1913 Cradlt Debit Discount from Consseroisl Paper * * Acceptances Interest " V. s. Bonds " " Warrants Sxchnnge Currant expense $ 60,799.41 Deficit carried to July 18.466.88 Deo. period &S 4 i& ? 12,811.82 1,821.47 7,480.68 10,643.28 76.48 I. 32,882.39 32,332.88 PROFIT AMD LO S ACCOOMT DEC. 31,1916, J»L- J2Li . Die. from Comerels 1 Paper " " Acceptance* Int. " 0 . P. Bond* * " Warrants Exchange Sundry Profits JsL 39,708.10 3,217.73 11,312.69 10,287.68 4,068.01 6.10 Dr. Balance left in current expense June 30,1916 18,486.82 Current expense July 1 to December 31 41*216.29 Excess over current expenses 69,882.11 ■ i M l 68,699.19 68,899.18 SAHHINSS Oi? y 3)B A RE3H3VB BA1K 0? MIliMA10fcl3 =- R L BT MOHfHS SUCK OUGfflXZAflOJT. M n r i m trm Month of 1914 lor. Deo. im Coal. # Acceptaneee. V 3. . Bonde Warr ant a. Sundry A&tch&ane ) total 323,48 323.43 999.04 999.04 Jaa. 1,089.74 fell. 1,197.71 March 1,440.10 April 3,179.78 4,269.62 469.42 2,346.96 4,014,08 608,70 1,902.80 1,061.32 4,932.92 1,505.50 ~ 719.00 1,691.67 1,193.16 6,109.33 Kay 2 ,0 2 0 .Si 489.12 1,708.34 1,724.78 6,942.46 June 3,507.39 313.36 1,708.33 1,137.27 76.48 6,741.82 July 5,969.70 261.67 1,708.33 1,038.21 61.00 9,038.91 Aug. 7,144.60 469.08 1,710.33 1,392.49 60.00 10,766.40 Sept. 6,582.25 639.23 1,715.73 1,733.10 426.40 10,966.71 Oof. 8,259.03 526.90 1,806.01 1.652.47 1,127.73 13,371.14 Hot . 6,063.36 654.36 2,030.86 1,863.36 1,721.60 12,333.42 See. 6,719.27 776.49 2,342.44 2,607.93 676.48 1 2 .U 2 .6 1 61,611.22 5,247.90 18,793.26 20,930.82 4,148.59 100,931.78 m tsim s of m fSDBtAL RESERVE BANK OP MINIT2AP0US For month of Deo, i m For Tear Jan. 1 to Total Sinoe Or,aa^g&U<a .S««ay!ga,^im . Bllla Discounted - member banka $ 5,719.2? $ 50,488.75 $ 51,811.22 776.49 5,247.90 5,247.90 (Mited States Bonda 2,342.44 18,793.25 18,793.25 Warrant a 2,607.93 20,930.82 20,930.82 676.48 4.148.59 4.148.59 # 12,122.61 $ 99,609.31 #100, 931.78 Billa Purchased - acceptances Total Earnings Dedaot Comaisalons Paid Total S&rninga ____ S UL 13 $ 98,789.83 ______B19,4§. $ 100,112.30 VifiDSRia KXBJSMTU ;-3 of ths BrtBK OF U lX B ^ Q A y For HOBthof m w z .m x m m . I n n * * ! of aorrnora’ Confero.ioe. , . . . . . . . . # 3xpenstts of rtMt, Res. .genta * Coaferoocos. . . 4aeeasaoota aiaoa July 1* a/o expenses federal iJeeerre a o ard .... .................... ?ed»ral Advisory Council (feaa and Par fear Jen. 1 to Pea. 31-1916 fetal •I s m Or* taniifctH^j Dlreotora * . . . . . .......................... . Far diem allowance of d ir & o t o r a ,........... . telegraph....................... . . . , ............................. Inaaraaoe and preaUoa on fidelity bonds... 146.06 3.30 80.00 46.99 26.19 60.06 31.14 416.67 664.90 260.03 10.10 . 366.16 8,968.89 Less amount o<upri@d to orgaaisatio* expanse total current expenses. . 8,968.89 1,002.99 4,763.30 696.66 3,410.00 1,923.75 3itlarlaai~ Bank O f f i c e r s ................ . Cltfloul u t A f ^ l » t 0 9 » 9 T 228.76 gpeoial Offioera athi vatohmaa.. . . 1,002.99 339.38 4 . 753.30 U S . 88 696.66 *,88 6. 1,923,76 27,541.64 20,744.78 1,617.16 303.88 32,461,34 22,134,68 2,014,14 716.07 1,620.99 673.91 940.00 642.76 273.91 1.864.39 746.46 6,000.04 1,144.80 68.60 3,808.06 607,48 2.036 _04 2*937,71 861,66 1,290.00 696.96 369,00 2,478.31 6,648.68 6,760.04 3,317.4798,00 8,966.8? 669.36 2.467.64 100,219.40 13.804*70 98,014.70 81,668.33 80,367.46 Carried from current expenaea (Aoojuat expense prior to Io v «l6,1914... a 1,290.87 Aseeaasumt for general expenaea of ^daral H#a«rre Board {prior to Jana 3 0 ,1 9 1 5 }... m . At4Qfla£2 T o ta l.................. 7tA90.87 . g u L M jm m MTMBSAflS, K?3f*JK 3. m m a Vault a ,.......................................... Other........... ................................... . Jfotal equlpfcmt. . . . . . W A X , atPSBMIO??:- i 16,789.97 111.88 6,294.64 6,406.42 31,164.88 13,204.70 8.633.34 a , 738.04 31,623.01 38,634.12 6,036.13 44,361.66 3,682.40 49.00 64,119.14 173,700^48 6,076.60 44,001.00 3,682.40 48.00 04,169.64 206,046.00 IjnnSTMEJTTS - CLOSE OP BUSINESS Did. 31,1915 WARRANTS OP STATES AND MUNICIPALITES. Interest Bagis.... j&e.. CITy of Hoboken, H. JV 2 1/4 1-28-16 State of Georgia, Ccanon Sohool 3 1-31-16 76,262.41 School Board,Rook liver Township, Alger County, Michigan 4 1/2 8- 1-16 5,051.25 School Board, Muniaing Townahip, Alger County, Michigan 4 2- 1-16 20,133.33 Sohool Board, fiodk River Township, Alger County, Michigan 4 2- 1-16 5,085.83 City of Yonkers, H. Y. 2 7/8 2- £-16 10,149.19 City of Hoboken, N .J . 2 7/8 2- 4-16 10,152.40 City of Quincy, Hass. 2 1/8 2-10-16 25,000.00 City of Yonkers, N.Y. 2 7/8 2-14-16 8,124.32 Oneida County, Rhinelander, Wis. 4 1/2 2-17-16 5,000.00 State of Minnesota 4 S- 1-16 491,361.50 Citf’ of Hew Haven, Conn. 2 1/8 3-10-16 50,347.22 Town of Winthrop, Mass. 2.40 3-15-16 30,000.00 2.40 3-20-16 25,000.00 School Dist. #1 Port Edwards, Wis. 5 3t*20-16 8,000.00 Town of West Hoboken, N .J. 2 3/4 3-23-16 20,375.00 City of tynn, Mass. 2.30 4- 5-16 5,000.00 City of Chelsea, Hass. 2.30 4-10-16 5,000.00 Town of Winchester, Bass. 2 1/8 4-20-16 25,000.00 Town of Stamford, Conn, 2.1 /2 6- 5-16 25,375.00 City of Malden, Mass. 2.10 6-28-16 Total n m n n Maturity Talue. $ # 10,095.83 50.000.00 910,513.28 Cash moons nm m m m m w m m m m a B wmmam s i, m e. OoU ffliilfff» Oold 0«rt«a fold 0#rt». ?ed«ral » • Totals Cola # 10,900* 36,000. li 1,010,000. i» i 018,300. 40,000* , , . 1 868 000 080,000, 618,880, *0 400,000* 400,000, SI 80,000, 60,000* 28 400,000, 400,000* as 88-000. 1,060,890, 080,000, 808,000, s,loo,oso* U M im w k *m L 0oM Oola # 8,000. mg m fm 10,080* OolA 0«rts,2 }sar«r 80,400* Sllvov 0«rtts. 8,801* fad, Jtta, aotct n m &m i M Wil lMUfHIB l mm M 0,040, ____ m M fofAft eufe of IM W *l w m em Bk* 8,616,049*08 cost O ?K E F D R S R BH T H E V O I23 m m D *01 fEDSRAi H 3E T S IttC OF M SAPO E RB A dH LIS #acai MO?. i # 1914 to MOV. 1, 1915. M i. $14,000,000. 4io. #8.160,000. i,fio. £20. , # 6,040,000. iioo. $ 800,000. # 2,000,000. gotai. #30,000,000. m a n -f nftagL a t6. 2,800,000, JlM L 816,000. Jfc&flk 262,000 m . lasiyu 16,000 20,000 3,904,000 SOMBER OF SHEETS (Four notea to the aheet). IQ'»- 700,000 204,000 M 1& 63,000 ISOla M M 4,000 6,000 .tatftL. 976,000 (fltod®livered). Cost of peeper 976,000 shoots @ #4*67 per U. Goat Of printing 976,000 ” 6 30,034 per K. 33 ?tto© Plates j.M # 4,689.68 29,313.17 2.212.74 S 'U * (Cost of faoo platea includes baok-plutos, dies, m il a and allowance for repairs). #36,086.49 TABES SHOWING MAXIMUM NOTES W E PUTHS WIXA PRINT AND OUB CREDIT ?m UNUS.aS PORTION. (The life of a plate is $04000 sheets). BeaOBU So. of plate*. fi » yn r i fc-4 ww So.notes 80. Of Portion Cost I of olftteji 3alanoe as an asset. 19 7 3 2 2 3,800,000 1,400,000 600,000 400,000 400,000 2,800,000 816,000 252,000 16,000 20,000 # 1,274.00 469.37 201.15 134.11 1S4.11 $938.74 273.58 84.48 5.36 6.71 $ 335.26 195.79 116.67 128.75 127.40 33 5 10 BO SO 100 6,600,000 3,904,000 2,212.74 1308.87 903,87 COST m 1000 NO? £3 (Undelivered). flatus Paper Printing # .338 1.167 7.508 f 9,01 ,SQS.t 5 *s_ .0671 Plates .2334 Paper Print lag JLM tf. (Undelivered) 1.8022 Postage .05 insuranoe Delivered 1.9722 jaamai.jafen* 50»s 10*8 .0335 .1167 sm .9010 .0960 - JJL 1.1171 .0167 .0584 .3754 .4505 .0480 .12 .6185 .0067 .0233 .1502 .1802 .0192 .12 .3194 100 *8 .0033 ,0117 .0751 .0901 .0096 .2197 OOSf OP FEDERAL RESERVE HOTES PRIST ED FOR FEDERAL RESERVE BAHK OP MIHSSAPOLIS PROM HOY. X, 1914 to *OV. 1, 1915. jMBSMILS m m L M m . m *. #14,000,000. #8,160,000. # 20. # 5,040,000. m iio . 2,800,000. 816,000. iso. $ 700,000. li!a 204,000 <20. *80. 252,000. $ 30,000.000. JEolti* ■1.100. 16,000 20,000 3,904,000 (Pour notes to the sheet) 20JJL 63,000 TOTAL OOSf OP SOTBS. M l* IQP'JL 4,000 5,000 m 976,000 ( ttodelirered*. 976,000 sheets O #4.67 per U. Oost of paper M N printir^ 976,000 * < 30.034 per M. m 33 Face Plates # 2,000,000. TOTAL. i .Q,?,.IQT33.. piMBKR ng SHEETS .511. 800,000. iioo. # 4,559,58 29,313.17 (Oost of faee plates inoladss back-plates, dies, rolls and allowance for repairs). * 36*085.4# TABIE SHOWHTG W X W M HOfSS THE PLATES WILL PRINT AID OUR CREDIT FOR OTU3ED PORTIOH. (The life of a plates 19 50,000 sheets). Den- Ho. of ;> Maxima* platei. Ho. notes cm. S 10 20 50 100 Ho. of Cost notes printed. of plates. 3,800,000 1,400,000 600,000 400,000 400,000 2,800,000. 816,000 252,000 16,000 20,000 6,600,000 19 7 3 2 2 3,904,000 Pprtion Used. $ 1,274.00 469.37 201.15 134.11 134.11 $ 938.74 273.58 84.48 5.36 6.71 2,212.74 BALAnoe as 1,308.87 POST PSR 1000 1DTS3 Plates Paper Printing f (Undelivered). $ .335 1.167 7.506 # 9 .0 1 COST PSB ilOOO. (Delivered) baaed on present rates. .-$’.8 .0671 Plates .2334 Paper Printing (Undelivered) 1.8022 Postage .05 Insurance Delivered 1.9722 10*s .0335 .1167 .7508 .9010 .0960 mM... 1.1171 20 »s .0167 .0584 .3754 .4505 .0480 _jl2 .6185 50*8 loo*.a .0067 .0233 .0033 .0117 .0751 .0901 .0096 ,12 .2197 .Am .1802 .0192 .12 .3194 335.26 195.79 116.67 128.75 127.40 903.87 wmm B&M$ m m®ss m s hats wmtsGxmm mmtm vmm*:® m e smwtm annm nmtwi'mm ah» Usa. Mitt. JfiMLJtCJIflll CitiM ns latloaal 9W#wfmmmm m m Sm m tW m ?Lrat Satlooal l i n t latlooal w m Smmam latioaal r i n t Sational « # m * m m m m m m m « t m m ■artIs Wm iwm l ffr»t Hatloaal • * Sutl* M l of n m Hatlcmal w « * « First Satioaal H uR f fukk fcO # u .i n .i y ,15009.00 SU OlouA Borthfiold 10,200.00 7,661.00 m u» u ,6 9 a .6 7 WVPw w: 8 P pfV V W '1 b jaoktfm 4,666.02 7 ,9 9 3 .ao HiaaMOta jbak» Atwatar u t» u . n *9" 1’ ^ ® lyyH^pp. 3,117.82 6,203,10 6,286.3? wiiacmt A y^ fla a . 11,646.98 4,698.631 StoUf Morris 9,992.94 3,062*60 ftetvfax 6,260,46 Otplctt 6,870.11 wrwnMi LakwflftM *> ,00i,76 8,712.66 St* A m m 7,406.60 OSsntoPStiA 1,661.00 Dodga Oaater Total first S&tiozml « m « m * M « * * » M • Orsgoarir Satloaal first KaUooal Brolo Satioasl triOgsvatsr Klt<dM>ll W OtttSO &C C 0t Fairfax; tfiinetM Poodle* 2aUoaal Hot 3jrir»es Fort Harr* Dill Rapid# lt b l< g * or t< Storrlstma § VI, H s if* Soil, Bm i latlQBil lira! Ifttioasl r i m Xatioaifcl Oregorjr wssa. Springs w aivux Total Llabliitg 18,104.53 1,000,00 10,200,00 84,929.73 19,746.67 4.666.02 7,999,20 86,466.03 20,464.00 13,220.67 6,206*10 9,730.47 16,400.62 4,892.81 9,992,94 4,309.26 14,666.97 U , 631,60 41,014.89 10,286*03 26,164.68 2,246.94 i $ j ,# 4 .6 2 6,606.28 6,696,46 4,178.10 4,411.17 2,640.60 6.863.66 16,264,06 13,466,66 16,561.00 t,aM ,n> 4,001.66 7,626.66 7,266.17 1,983.30 futal $ i<»,26o.oi 6,914,62 46,298,60 13,017.62 6,916,06 2,660.60 14,5*1.76 16,864.06 31,548.30 16,681,00 i ;S 8 :i 8 16,169.97 7,946.27 9.911.86 Merchants Batlonal Xerohaats MaUoaal First Jtatioaal First I&~ions4 first latloaal First Satlooal First Batloa^l first MaMioml 10.888.96 9,004.08 0,686.00 2,903.78 4,260.84 7.734.76 7,438 80 4,298.34 Maaiaa, H.D, Dioklasoa 1. fsdUrrim Abenam M * Ssv Bsglaod Rsodsr Karlon total # 13,877.88 9,004.08 11,627.97 4,447.23 4,260. JH 7,734.78 7,498,80 9,436.36 81,038.82 WMQQMafg. first national first XatiOttsl Gitlseas Rational Oltiasas Batloaal first Mational H&&Qtt8X!li6 Orftat Rapids Merrill Stone Iriks To tal...# OsgsfeiO Rational Tsllowstcns falls? lacional 28,211*82 5,078.83 10,181.87 1 ,8 2 1 .86 728.00 84,880.87 30,000.00 2^ 000,00 7,180.00 Iromood Bidasy 28,427.79 8,078.89 10,181,87 12,147.38 730.00 9,748,94 T o ta l...# 27,180.00 Condition of I 85 I Xi i I I 9 I I T I l i f t OF 8 I I H A F 0 U I: J At alo«e of imsinesa Dooaiafcer 31* liMU ttflnarre. BUla 4laaaaat*4- mmgmm I 4T7,606.40 B U I* &l »aa*a* H &t W 1 , 8* 6 , 0* 0.00 Q* % Ml IWMl «10,613,I8 JC*F'SSlyWBlS 6.47S.42 Sttaraot •oawrad on ljrraat»»ata tn£k &$$#• jft i& $3 fc r > Sooawa Mina* othar hanlra, 8,*i6«O0 ^SdlSiSl MNlN^fMl B0tSS OH IMNA (M a r t f m liability f « •at n**r«a) 066,660,00 llnlii | aad aa*ta n .u 64.1M .44 fWMltMpa ant oigiI p n I •W .4 6 OmndaaiMMi MML 8 4 4 8 S^aMMHosgaiilsat toa Coat of jfa 3 laattrraaattfa <*r*i Oapital # 6,646,600,00 IP lr n 1 iBI |W ePI V a p F^IQ^ i i1F W ■ W® l w v ;WF Uaaarnod diooans 13,471,70 ynammtA i»t*r«#t <m la* rastaMnta §t 46l,8S i^MKktwk H N tf&iMMMMI Wc Wt f booda 7,066.1% isrovialon for dlafettraassmsa lffll§«4i 2aa to MM^Nur banka id ,N fi,M S,S4 KaafcUr afractiB S. 66 9ao to otto# fadarai. Raaarvo 3aofca 66*640.68 Profit and. loss 8,917.08 9«a IMft otlM fadoral, 'Booervo HP 4,390,694.60 4,363,000.00 loll S H It a M l fmA Pm tm i fyaa—n r of t7,3«v ftold 3*4a*pUoa M l (1*4- oral, laoar?* aotoa) 9ol4 I t U i a aad C,8» oola 0* 9* fo il' oartlfioat »a (1»aiaalva 0 ,1 , oortlltoataa) B, 3, a l l w asrtifloatca ( i»» «U alvi 0« St oorttfloatoa) 0, 6* l*eal-t«adar aotea (I*alaalra 0 , H* 9 w l U i « t « i ) fatal Eaaoaxoaa,.........,.., 80,000*00 470,508,00 2,846,790.00 5 ,oo tm 16,060.00 # 16,476,364,£4 OaA reaarv* aigaiaal all U&biUtleai ow iriai, ?4 i «a | r,is 4 vooo,oo BafalvoA, 36 » 6,3*6,000,00 Sxoaaa, 81,1$ 8,7*6,600.00 Oold dapoalted with /edar&l Baoorvo a$aot to ratlvo oal« ataadii^ fadaral Boaerw aot*al4,000,000.00 total U a b iiit i« a .....4 16,478,864,34 Sat dapoatta # far oaaat oaati to Ml dapoaita 74,8% 9,601,011.6a FEDERAL BSSSEVS NOTES COMPARISON 0? COSTS - NEW NOTES AND LAUNDERED H0T3S. Cost per 81000. New Currency delivered, in Minneapolis from Washington, baaed on present rates. 5»s 10‘s 20*s 50*s 400*3 Plates .0671 .2334 Paper Printing 1.5017 (Uhdelivered)1,8022 Postage .05 Insurance .12 Delivered 1*9722 .0335 .1167 .7508 .9010 .0960 .12 1.1171 .0167 .0584 .3754 .4505 .0480 .12 .6185 .0067 .0233 .1502 .1802 .0192 .12 .3194 .0033 .0117 .0751 .0991 .0096 .12 .2197 Cost per <8*1000. on currency shipped Sub-Treasury at Chicago to be laundered. 5*s Post.lo Chicago # .21 Ins. to Chicago .05 Post, from Chicago .21 Ins. from Chicago .08 Launder iru? .60 (3/lO^ per notet 1.15 10*3 2Q1* $.105 .05 .105 .08 ,30 .64 # .0525 .05 .0525 .08 .15 .3850 50*s # .021 .05 .021 .08 .06 .232 100's # .0105 .05 .0105 .08 ...03 .18 JO