Full text of Mimeograph Letters and Statements of the Board : Letter From E. L. Smead, Secretary, Committee on Salaries, Expenditures and Efficiency, re Functional Expenses, Second Quarter 1924, Number St. 4177, Volume 21, Page 858

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FEDERAL RESERVE BOARD
WASHINGTON
address official correspondence to
the federal reserve board

August l 4 , 1924.
St. 4177.
SUBJECT:

Rincticmal Expenses
Sec ond Quart e r 1924.

Dear S i r :
There i s enclosed herewith one copy of the
Functional Expense Exhibit f o r the Second Quarter of
1924, showing f o r each Federal Be serve bank and
branch the cost of operating each functionuand expense u n i t , together with the number of o f f i c e r s and
of employees, the t o t a l number of u n i t s handled,
u n i t s handled per employee per day, and u n i t c o s t s .
Copies of the exhibit are a l s o being
mailed to the Governor of each Federal reserve bark.
Very truly yours,

E.Iu Smead, Secretary,
Committee on Salaries,
Expenditures and. E f f i c i e n c y .

Enclosure.
LETTER TO CHAIRMAN OF EACH FEDERAL RESERVE BANK