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X-1761 ESTIMATE FOR JANUaRY. 1920. ASSESSMENT Average monthly encumbrance f o r period July 1, 1919, t o Dec. SI, 1919 Estimated monthly requirements, Jan. t o June, 1920, i n c l u s i v e . . . Estimated monthly i n c r e a s e . . . . . . . . . Estimated requirements, January to June, 1920, i n c l u s i v e . . . . . . . . Estimated unencumbered balance Jan. 1, 1919. . . . . #8,566.59 67,260.00 38,792.00 525,000.00 10.000.00 515,000.00 Estimated p a i d - i n c a p i t a l and surplus of Federal Reserve Banks, as of c l o s e of business Dec, 31, 1919. . . . . . . . . . . . 206,000,000,00 An assessment of t w e n t y - f i v e hundredths of one per cent (.0025) v . i l l produce. . . . . . . 515,000.00 I have the honor t o recommend, t h e r e f o r e , that an assessment of t w e n t y - f i v e hundredths of one per cent (.0025) be l e v i e d . Vv'. M. Imlay F i s c a l Agent.
@FedFRASER