Full text of Mimeograph Letters and Statements of the Board : Letter From E. L. Smead, Chief, Division of Bank Operations, re Reports of Earnings, Expenses, Dividends, and Franchise Tax Payments for 1924, Number St. 4356, Volume 21, Page 896

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FEDERAL RESERVE BOARD
WASHINGTON
ADDRESS OFFICIAL CORRESPONDENCE TO
THE FEDERAL RESERVE BOARD

December 15, 192*+.
St. UlRS..
SUBJECT: Reports of Earnings, Expenses,
Dividends, and Franchise Tax
Payments f o r 192U.
Dear Sir:
In order t h a t the Poard may have information regarding
the f i n a n c i a l r e s u l t s of operations 0/ Federal reserve banks during the present calendar year as soon AS p r a c t i c a b l e a f t e r January 1, i t i s requested that a statement be telegraphed the Board
on Friday morning, January 2, 1925» showing the following informa
tion:
(Code)
EACH - Gross earnings n
« . . . .$
EADS - Current expenses . . . . . . . . . . . . . . .
EARN Current net earnings
ELBA - Additions to Current net earnings*
ENID - Deductions from Current Net Earnings
Net additions to or deductions
from current net earnings

.
*

EAST - Net earnings available f o r dividends,
franchise t a x , and surplus
EYRE - Dividends paid
EMET - Paid tg Government as f r a n c h i s e tax
EVEN - Transferred 10 surplus account

.

Total (to agree with item EAST)
CAPP - Subscribed c a p i t a l January 1, 1925
CEDE - Surplus January 1, 1925




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I t i s also requested that the .regular monthly r e p o r t s
of earnings and expenses on forms 95> 9^, 97 sW
"be accompanied with an itemized statement showing in d e t a i l a l l additions
to and deductions from current net earnings ( P r o f i t and Loss
account) during the year, and that i n addition to the regular
balance sheet form 3^ f o r the l a s t day of the year representing the
condition of the bank a f t e r f i n a l closing of the books, a form 3^
be submitted showing the condition of the bank at close of business
but p r i o r to the making of any p r o f i t and loss account e n t r i e s .
Very t r u l y yours,

E. L. Sine ad, Chief,
Division of Bank Operations.
•i
>

N
LETTER TO BE SENT TO THE GOVERNOR
AT EACH FEDERAL RESERVE BANK.