Full text of Mimeograph Letters and Statements of the Board : Letter From Fiscal Agent Imlay re Assessment for General Expenses of the Federal Reserve Board July 1 to December 31, 1930, Number X-6629, Volume 32, Page 629

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FEDERAL RESERVE BOARD
WASHINGTON
address official correspondence t o
the federal reserve board

X-6629
June 18, 1930.
SUBJECT* ASSESSMENT FOB GENERAL EXPENSES OF THE FEDERAL RESERVE
BOARD JULY 1 TO DECEMBER 31, 1930.

Dear S i r :

There is enclosed herewith copy of a resolution adopted
t>y the- Federal Reserve Board levying an assessment upon the several
Federal reserve hanks of an wftount equal to ninety-two thousandths
of one per cent (*00092j of the total paid-in capital stock and
surplus of such "banks at closl of Msiness June 30, 1930, to defray
the estimated general expenses of the Boaifrd from July 1 to December 31, 1930.
Kindly deposit one^htlf oi the amount of your assessment
in the General Account, Treasiiier, U. S., on your "books July 1,
1)30, ahd one-half September 1, 1930, in each instance issuing a
C/D for credit of "Salaries and Expenses, Federal Reserve Board,
Special Fund", assessment for general expenses, and sending duplicate C/D to the Federal Reserve Board. Also please furnish a
statement of your capital and surplus used as a "basis for the assessment .
Very truly yours,

(Enclosure)

W. M. INLAY
Fiscal Agent<

SENT TO FEDERAL R86ERVE AGENTS, ALL DISTRICTS.




630

X-6629*a

RESOLUTION LEVYING ASSESSMENT

WHEREAS, under Section 10 of the Act approved
December 23, 1913, and known as the Federal Reserve Act,
the Federal Reserve Board is empowered to levy semiannually upon the Federal reserve tanks in proportion to
their capital stock and surplus an assessment sufficient
to pay its estimated expenses, Including the salaries of
its members, assistants, attorneys, experts and employees
for the half-year succeeding the levying of such assessment, together with any deficit carried forward from the
preceding half-year; and,
WHEREAS, it appears from estimates submitted
and considered that it is necessary that a fund equal to
ninety-two thousandths of one j»er cent (.00092) of the
total paid-in capital stock and surplus of the Federal
reserve banks "be created for the purpose hereinbefore
described, exclusive of the cost of engraving and printing
of Federal reserve noteS; Now# therefore,
BE IT RESOLVED, Thak pursuant to the authority
. vested in it ty law, the Federli "Reserve Board hereby
levies an assessment upon the several Federal reserve
hanks of an amount equal to ninety-two thousandths of one
per cent (.00092) of the total paid-in capital and surplus
of such hanks as of June 30, 1930, and the Fiscal Agent of
the Board is hereby authorized to collect from said "banks
such, assessment and execute# 1% the name of the Board,
?*#pts for payments ##9?' Such assessments will hp
soli### i n tie '%#####%#, of one-half ew?foi # flgf*
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