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p Y April 15, 1935 My dear Senator: I am sending you herewith copy of the letter I received from Mr. Bennett, which I read to you over the telephone and which you asked me to send to you. i Concerning other matters which I discussed with you over the telephone, regarding the banking organization with which I was formerly connected, I am enclosing herewith a combined statement of banks owned by the First Security Corporation as of September 29, 1954. This is the last statement I have. In discussing the matter with Mr. Bennett he advises me that there is a substantial improvement since the date of the referred to statement. In the statement you will note the total amount of Preferred "A" Stock subscribed for and owned by the Reconstruction Finance Corporation is $1,750,000.00, and that the equity in the banks junior to the Reconstruction Finance Corporation's investment amounts to $5,532,000.00, or practically twice the amount of the investment of the Reconstruction Finance Corporation. This $5,332,000,000 is made up of the following items: Preferred "Bn Stock Common Stock Surplus Undivided Profits Total $ 30,000.00 1,860,000.00 800,000.00 642,000.00 #3,332,000.00 Sincerely yours, M. S. Eccles, Governor. Hon. James F. Byrnes, United States Senator, Washington, D. C. Enclosures. CONSOLIDATED STATEMENT OF FIRST SECURITY CORPORATION SYSTEM OF BANKS September 29, 1934. Resources $14,279,812.24 738,401.47 1,477,513.25 1,150,000.00 57,500.00 116,112.61 124,500.00 189,650,53 Loans and Discounts Banking Houses, Furniture and Fixtures Investment Bonds and Securities U.S.Bonds Securing Circulation Due from U.S.Treasurer-Redemption Fund Real Estate Owned Stock in Federal Reserve Bank Other Assets $12,487,345.91 22.406.407.96 Cash and in Banks 34,893,753.87 U.S., Municipal and Listed Securities $53,027,243.97 Total Resources Liabilities Capital: Preferred nAw Stock Preferred "B* Stock—Redeemable value (All owned by First Security Corporation) Common Stock Surplus Undivided Profits Reserves for Taxes, Interest, etc. Bank Currency in Circulation Other Liabilities DEPOSITS Total Liabilities 1,750,000.00 30,000.00 1.860.000.00 3,640,000.00 800,000.00 642,494.46 253,298.72 1*150,000.00 7,062.48 46,534,386.31 $53,027,243.97
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