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COPT THE COldFTROLLEK OF THE CUEKENCT Washington February 21, 19^0 Honorable John K . McKee, Board o f Governors, F e d e r a l Keaerve System, Washington, !)• C» Dear Governor McKeei There I s t r a n s m i t t e d t o you h e r e w i t h copy o f a l e t t e r r e c e i v e d from M r . L . M« G i a n n i n i , P r e s i d e n t o f t h e Bank o f America N» T« k. S . A. Very s i n c e r e l y yours, (signed) P r e s t o n Delano P r e s t o n Delano COPY BANK OF AiiSKlCA NATIONAL TRUST AKB BATHOS A&TOCIATION SAN FRAfiCIflOO CALIFORNIA. Ideyflower H o t e l , Washington, D.C. February 2 0 , 1940 Honorable P r e s t o n Delano C o m p t r o l l e r o f t h e Currency Washington, D . C. Dear C o m p t r o l l e r Delano» I am sending you t h e enclosed copies o f t h e schedules w i t h respect t o t h e Bank 9 s investment account which I promised you t h i s a f t e r n o o n . There a r e a d d i t i o n a l copies t o be f u r n i s h e d t o t h e o t h e r s present a t t h e meeting t h i s a f t e r n o o n . I have not been a b l e t o secure t h e o t h e r i n f o r m a t i o n y e t but w i l l communicate i t t o you j u s t as soon as i t i s r e c e i v e d . Kind regards. Very t r u l y yours, / s / U M. G i a n n i n i L . M. G i a n n i n i , P r e s i d e n t Bank o f America N . T . & S . A . C 0 P Februery 17, Y 1940. RANT OF AH-ERICA N . T . & S . A . £ a c h y e a r s i n c e 1935 L o a n s and D i s c o u n t s t o T o t a l R e s o u r c e s r o s e i n percentage t o T o t a l Resources. 1935 1936 1937 1938 1939 35. # 37.2 42.2 42.8 43.6 (in $451 532.1 630.7 673.8 711. A t t h e same t i m e t h e amount o f Governments h e l d end t h e t o T o t a l Resources d e c l i n e d . 1935 1936 1937 1937 1938 1939 !l L , - I is ^ 3388..33$$ 32.6 28.5 26.2 26.6 £438.6 466.4 425.3 412.3 434. millions) percentage (In millions) T h i s d e c l i n i n g t r e n d i n t h e p e r c e n t e g e o f U. S . G o v e r n m e n t s t o T o t e l Resources i s s r e v e r s e l o f t h e p r e v i o u s t r e n d f o r t h e p r e c e d i n g f i v e y e a r s when t h e p e r c e n t a g e o f U . S . Governments t o T o t a l R e s o u r c e s wes as f o l l o w s : 1930 1931 1932 M'p 1933 1934 12.7% 15.4 A/ \y 22.8 31.1 $-147.5 142.8 170.2 215. 355.3 (In millions) COPY I W . - ^ a . ' - N r ACCOUNT — 3AKK Qi AfovRICA. K.T.fc S.A« Uovtmnlente Average Net C a r r y Het C a r r y Dote ;> £ TaaHBaem •1 Average Ret C a r r y Net C a r r y December 3 1 , 1931 142,374»707*38 104.708 67,791,778.86 10a.786 June 30, 1932 151,094,915*71 103.506 68,579,259.10 103.57 "ecembor 3 1 , 1932 169,685,>64*47 103.71 73,269,320.24 103.08 Juna 3 0 , 1933 177,647.862*34 102,686 73,746,006.79 102.948 I e c e a b : r 3 1 , 1933 214,839,858.66 102.379 76,507,970.63 101*246 June 30, 1934 277,118,849*69 102*161 102,932,324.83 98.307 December 3 1 , 1934 346,954,777.30 101.378 101,033,984.82 101.163 June 3 0 , 1935 340,222,055.47 103.553 98,692,486.55 102.414 December 31, 1935 484,440,039.49 102.614 91,902,115.32 105.456 June 30, 1936 483,783,726*30 101.89 96,323,418.52 104.627 December 31, 1936 461,346,989*14 102.67 101,307,930.95 106.433 June 3 0 , 1937 414,559,084*70 102.305 92,865,348.99 105.861 418,973,058*33 101.94 85,358,703.47 105,124 June 3 0 , 193® 432,379,483.36 102.221 99,424,399.79 104.185 December 3 1 , 1938 405,468,768*83 101.815 107,680,007.63 104.664 June 30, 1939 390,064,439.98 103.086 134,164,163.87 104.59 ' e c a a b e r 3 1 , 1939 424,254,993.92 102.891 139,194,443.15 104.46 December 3 1 , Note: 1937 Net c a r r y v a l u e l a c a r r y v a l u e a f t e r d e d u c t l e a s B a s e r ? e a f o r A m o r t i z a t i o n o f premium* for
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