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BOARD OF GOVERNORS S-118 OF" THE 341 FEDERAL RESERVE SYSTEM WASHINGTON ADDRESS OFFICIAL. CORRESPONDENCE TO THE SOARD October 11, 1.958 Dear Sir: In the Board's letter of August 24, S-112, transmitting copies of the revised examination report form and advising that a few months' supply of the forms was being forwarded for use, it was said that advice as to the cost of the form would be forwarded later. ·rhis letter is to furnish that information and to explain the method of prorating the costs of the form among the various Reserve banks. As you may know, the Board has inst~lled multilith equipment and the report forms were printed on that equipment by the Board's employees. The cost of the new form, including the trust form, is as follows: Composition: Printer's proofs (these were furnished by a firm of compositors and from the proofs the multilith plates were made) $555.20 Multilith plates 195.00 Printing covers for tho report 40.00 ~588.20 Paper and miscellaneous supplies: Paper Cover stock Binding tape $1,572.56 105.90 50.50 Total co:::t $2,117.16 At the time we were not prepared to make the multilith plates and thesE' were obtained from outsidc.sources. Had we been pre-pared, as we now are, the cost for this item would have been muterially less. The following statement shows the distribution of the costs among the various Federal Reserve banks: 342 -2..;. Pupe...r_a.nd supplies Percent Amount Boston 5 New York 20 Philadelphia 10 Cleveland 10 Richmond 5 Atlanta 5 Chicago 15 St. Louis 5 Minneapolis 5 Kansas City 5 Dallas 5 San Francisco lQ Totals 100 $ 76.45 505.78 152.90 152.90 76.45 76.45 229.55 76.4-5 76.45 76.45 76.45 152.90 $1,528.96 S-118 Composition, etc. 4l ·rota1 49.02 49.00 49.02 49.02 49.02 49.02 49.00 49.02 ·19.02 49.02 49.02 $125.47 554.78 201.92 201.92 125.47 125.47 278.55 125.4? 125.47 125.47 125.47 4~.02 ___&_Ql.&g "588. 20 $2,117.16 'II' Every Federal reserve bank except the Federal Reserve Bank of Richmond. should pay this assessment by transferring the amount sho~n in the last column of the statement through the Inter-district Settlement Fund to the Federal Reserve B~.nk of Richmond for credit to the account of the Board of Governors of the Federal Reserve System on the books of that bank, with telegraphic advice to Richmond of the purpose and amount of the credit, and the Federal Reserve Bank of Richmond should pay its assessment by crediting the amount thereof on its books to the Board of Governors of the Federal Reserve System • .ti.s will be noted, the costs of composition have been prorated equally the Reserve banks, inasmuch as each bank would have had to incur composition costs if each hank had arranged for the printing of its own forms. The costs of the paper and supplies heve been distributed on the basis of an estimate of the amount which will be used by each Federal reserve bn.nk, the est~~ate being based on the number and size of the State member banks in the v~rious districts. a~ong An estimated year's supply of paper was purchased .. Only a portion of the stock has been used and additional supplies from such stock will be furnished without further cost to the Reserve banks. Costs of future purchaseEZ of puper will be prorated among the various hanks on the basis scheduled above and forms printed from such supplies will be furnished without additional costs, e:::cept that in the case of substantial revision of the form composition costs will b<;: pror<:~ ted. The Board is interested in comparing t;he cost of the form prepared here with an estimate of what it would have cost the Reserve banks to prepare their own forms indlviduaJ.ly. It l";ilJ. be apprcci?..ted, therefore, if each Reserve bank v:ill determine c..nd advise the Board as to 'Nhat the approximate cost would have been to the bsnk of prepari.ng the new forms. 343 S-118 -5- It is requested that this estimate be not only for the first prlnt:ing, but to cover, say, a five-year period. The latter estimate would no doubt involve some cost of composition for reprints, whereas under the present procedure no such expense should be incurred except in connection with revisions. L. P. Bethea, Assistant Secretary. TO THE PRESIDENTS OF ALL FEDEr'1AL RESERVE BANKS.
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