Full text of Mimeograph Letters and Statements of the Board : Assessment on Federal Reserve Banks, Number 256, Volume 2, Page 420

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STATEMENT FOR TJES PRESS.

The Federal Reserve Board today sent to all Federal
reserve tanks copies of a resolution levying an assessment of
one-tenth of one per cent on gross capital against the several
Federal reservo hanks for tho purpose of defraying the estimated
general expenses in connection with the work of tho Board from
July 1st to December 31st, 1915*

This will rosult in payment

of $108,447.
The first assessment was levied on November 2nd, 1914
and was for $431,768.40.

In this estimate a sum for the cost

of Federal reserve notes v;?.3 included.
since boon separated.

Those accounts have

The present assessment includes no

estimate for the preparation of Federal reserve notes, each
bank paying.for its own notes.
Federal reserve banks arc requested to make remittance
of one-half of the amount of their assessment on July 1st, and
the second half on September 1st.

The basis of estimate is

the capital stock allotted to member banks figured at its full
value of about $108,390,000.