Full text of Mimeograph Letters and Statements of the Board : Letter From E. L. Smead, Chief, Division of Bank Operations, re Summary Statement Showing Salaries of Federal Reserve Bank Officers and Employees, Number R-575, Volume 51, Page 208

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208
BOARD OF GOVERNORS
•

OF THE

FEDERAL RESERVE SYSTEM
R-575

WASHINGTON

a d d r e s s official c o r r e s p o n d e n c e
to the s o a r d

December 11, 1939

Dear Sir:
In accordance with the usual practice, please
furnish the Board with a summary statement showing the number
g n salaries of, officers and employees of your bank (includid
r

ing branches, if any) as of December 31# 1939$ made out in
accordance with the attached form. The figures, which should
not include any changes in either the number or salaries of
officers or employees that become effective on January 1, I9I1O,
will be published in the Board*s 1939 Annual Report.
Very truly yours,

Division of Bank Operations

Enclosure

TO THE PRESIDENTS OF ALL FEDERAL RESERVE BANKS




» 209
R-575*
NUMBER AND SALARIES OF OFFICERS AND EMPLOYEES OF THE
FEDERAL RESERVE BANK OF
(INCLUDING BRANCHES)
December 31» 1939
Total officers
and employees
including those
whose salaries
are reimbursed
to the bank in
whole or in part

Officers and
employees (included in column
l) whose salaries
arc reimbursed to
the bank in whole
or in part(a)

Annual salary of President

Other officers:
Number .
Annual salaries

Employees, both permanent and
temporary:
Number (b)
Annual salaries

(a) Should represent aggregate of fractional amounts in the case of
employees whose salaries are only partly reimbursed to the bank.
For example, if 25 per cent of tho salary of an employee receiving
$1,200 a year is reimbursed to the bank, .25 should be included in
.
.the computation of the "number" of employees, and the amount of
salary reimbursed, $300, should be included in the computation of
the annual salaries.
(b) In the case of part-time employees, i.e., employees who are regularly
engaged for less than a full day, the "number" reported should
represent the portion of the full day worked. For example, if any
employee is regularly engaged for one-half of tho usual working day,
.50 should be included in the computation of the "number" of
employees.