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.1/3:9 FEDERAL RESERVE BOARD WASHINGTON X~6703 A D D R E S S OFFICIAL C O R R E S P O N D E N C E T O T H E FEDERAL RESERVE BOARD September 13, 1930. SUBJECT: Audit of incomplete Federal Reserve States on hand in Bureau of Engraving and P r i n t i n g a s of c l o s e of b u s i n e s s June 30, 1930. Dear S i r : There i s enclosed herewith copy of a l e t t e r addressed to the S e c r e t a r y of t h e Treasury by the Chief of the Division of p u b l i c Debt Accounts and Audit, c e r t i f y i n g a p i e c e count of t h e e n t i r e stock of Federal reserve n o t e f a c e s and uniform backs a l l o c a t e d to Federal r e s e r v e notes on hand in the Bureau of Engraving and P r i n t i n g as of the c l o s e of b u s i n e s s June 30, 1930. The Board h a s been provided with a d e t a i l e d r e p o r t of t h i s a u d i t , a r e c a p i t u l a t i o n of which i s a l s o enclosed f o r your information. Very t r u l y yours, E. M. McClelland, A s s i s t a n t Secretary. TO GOVEHHOBS OF ALL F.H.BANKS. Enclosures, c o p y X-6703-a Audit l'o. 433 J u l y 17, 1930. The Honorable, The S e c r e t a r y of the Treasury: Sir: There i s submitted f o r your information a r e p o r t of a u d i t of incomplete Federal Reserve ITotes of a l l denominations on hand i n the Bureau of Engraving and P r i n t i n g as of the close of "business June 30, 1930. In accordance with arrange- ments made between the Federal Reserve Board and t h i s o f f i c e , a r e p r e s e n t a t i v e of the Board was p r e s e n t during the process of the a u d i t . A p i e c e count was made from J u l y 1 to 3 i n c l u s i v e of the e n t i r e stock of Federal Reserve Hote Faces and of the Uniform Backs a l l o c a t e d to Federal Reserve Kotes. The r e q u i r e d reserve of 4,250,000 s h e e t s of incomplete n o t e s , Faces and Backs, as a u t h o r i z e d i n the l e t t e r of the Governor of the Federal Reserve Board to the Undersecretary of the Treasury under date of December 2, 1929, was found to be on hand, and i n a d d i t i o n there were a l s o found 444,505-l/£> s h e e t s of Federal Reserve Hote Faces i n p r o c e s s of work. The r e s u l t s of the a u d i t are shown i n d e t a i l i n the a t t a c h e d r e p o r t . During the process of the a u d i t the courtesy, cooperation and a s s i s t ance of the o f f i c i a l s and employees of the Bureau were a p p r e c i a t e d . R e s p e c t f u l l y submitted, (Signed) M. R. loafman Chief, Division of P u b l i c Debt Accounts and Audit.
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