Full text of Mimeograph Letters and Statements of the Board : Letter From E. L. Smead, Chief, Division of Bank Operations, re Postage Incurred in Collecting of Checks on Non Par Banks to Be Credited to Treasurers General Accounts, Number R-654, Volume 52, Page 191

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191

B O A R D OF G O V E R N O R S
OF THE

FEDERAL RESERVE SYSTEM

R-S54

WASHINGTON
ADDRESS

OFFICIAL C O R R E S P O N D E N C E
TO THE

BOARD

May 16, I9I4.O

Dear Sirs
One Federal Reserve bank recently advised us
that it charges to the Treasurer's General Account unit
in the functional expense report, Form E, postage incurred in collecting checks on nonpar banks deposited
by postmasters, collectors and others for credit to the
Treasurer's General Account. It further advises that an
inspection of the functional expense report for the last
half of 1939 indicates that most of the other banks and
branches which have a large number of nonpar banks in
their districts are'apparently charging such postage to
other expense units.
It will be appreciated if you will advise us of
the unit on Form E in which such expense was included by
your head office and branches during the last half of 1939#
the amount thereof if readily available, and the changes
you think should be made in the manual governing the preparation of functional expense reports to obtain uniformity
in the reporting; of postage on items sent to nonpar banks
for collection and credit to the Treasurer's General Account.

TO THE

CEPT


Very truly yours,

B. L. Smead, Chief,
Division of Bank Operations.

PRESIDENTS OF ALL FEDERAL RESERVE BANKS EXBOSTON, NEW YORK, PHILADELPHIA AND ST. LOUIS