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898 COST OF OPERATING THE TEAKSIT AND COLLECTION DEPARTMENTS OF THE FEDERAL RESERVE BANKS, AND COST OF MAKING TRANSFERS OF FUNDS D u r i n g t h e p a s t t h r e e y e a r s t h e F e d e r a l R e s e r v e Board h a s been r e c e i v i n g r e p o r t s f r o n t h e Federal r e s e r v e banks d i s t r i b u t i n g t h e i r o p e r a t i n g expenses according to f u n c t i o n s performed. The c o s t s of o p e r a t i n g e a c h f u n c t i o n o r d e p a r t m e n t , however, a s shown i n t h e s e r e p o r t s do n o t i n c l u d e g e n e r a l o v e r h e a d e x p e n s e s such a s s a l a r i e s of s e n i o r o f f i c e r s , t h e c o s t of space o c c u p i e d by t h e s e v e r a l d e p a r t m e n t s , and t h e k e e p i n g of t h e g e n e r a l b o o k s , i n d i v i d u a l l e d g e r s , e t c . , of t h e b a n k , which a r e shovm s e p a r a t e l y i n t h e r e p o r t s . The e x p e n s e s d i r e c t l y c h a r g e d t o t h e T r a n s i t and C o l l e c t i o n d e p a r t m e n t s , and t o t h e o p e r a t i n g u n i t which h a n d l e s t r a n s f e r s of f u n d s , were a s f o l l o w s during the past three y e a r s . 1923 Check c o l l e c t i o n s Non-cash c o l l e c t i o n s Total Transfers of funds 1924 1925 >,585,982 -£4,462,189 $4,174,170 1,156,236 1,051,719 905,888 5,742,220 5,513,906 5,080,058 479,583 457*753 419,075 S t . 4890
@FedFRASER