Full text of Mimeograph Letters and Statements of the Board : Letter From E. L. Smead, Chief, Division of Bank Operations, re Functional Expenses, Second Half, 1927, Number St. 5695, Volume 28, Page 583

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FEDERAL RESERVE BOARD
WASHINGTON
ADDRESS OFFICIAL CORRESPONDENCE TO
T H E FEDERAL RESERVE BOARD




March J , 1928,
st.

SUBJECT:

5695.

F u n c t i o n a l Expenses
Second H a l f , 192?•

Dear S i r :
There are e n c l o s e d h e r e w i t h

copies

of t h e c o n s o l i d a t e d F u n c t i o n a l Expense e x h i b i t f o r
the h a l f y e a r ending December 31 > 1927«

A copy of

t h e e x h i b i t i s a l s o "being mailed t o t h e Governor of
the bank.
Very t r u l y y o u r s ,

E. L. Smead, C h i e f ,
D i v i s i o n of Bank O p e r a t i o n s .

Enclosure.
LETTER TO CHAIBMAIT OF EACH FEDERAL RESERVE BAtlX*