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0."!"'-r') ~J~/0 W. P. G. HARDING, GOVERNOR ALBERT STRAUSS, ViCE GOVERNOR EX-OFFICIO MEMBERS ADOLPH C. MILLER CHARLES S. HAMLIN CARTER GLASS SECRE~RY Cl'IC THE TREASURY CHAIRMAN JOHN SKELTON WILLIAMS FEDERAL RESERVE BOARD COMPTROLLER OF THE CURRENCY J. A. BRODERICK, SECRETARY W. T. CHAPMAN, ASSISTANT SECRETAIYY W. M. IMLAY, fiSCAL AGENT ADDRESS REPLY TO WASHINGTON X-158lfDERAL RESERVE BOARD June 21 9 1919. SUBJECT: .ASSESSGENT FOR GENERAL EXPENSES OF THE FEDERAL RESERVE BO.APJ), JULY 1 TO DECEEBER 31, 1919. Dear Sirs:There is inclosed for your information and attention copy of a resolution adopted by the Federal Reserve Board at a meeting held on June 19, 1919, levying an assessreent upon the several Federal Reserve Banks of an amount equal to one hundred seventy-six thousandths of one per cent (.00176) of the total paid-in capital stock and surplus of such banks to defray the estimated general exj_)enses of the Federal Reserve Board from July 1 to December 31 9 1919. This assessment does not include the cost of engraving and printing Federal Reserve notes. There is also inclosed a statement showing the basis upon which the assessment is levied. The assessment should be computed upon your·paid-in capital and surplus as of close of business June 30, 1919, that isy ·11pon capital paid~ in as shown by books on that date, and surplus after adjustment in accordance \"lith circular letter X-1558, dated May 31, 1919. I have the honor to request that you bring this :rmtter to the early attention of the Board of Directors of your bank, and deposit onehalf of the amount of your assessment in the General AccoU11t, Treasurer, U. s., on your books on July 1, 1919, and one-half on September ly 1919, in each instance issuing a C/D on Form 1, National Banks, for credit of 11 Salaries and Expenses, Federal Reserve Board, Special Fu:ndt 11 assessment for general· expenses. Kindly send duplicate C/D to Federal Reserve Board. Very truly yours, Fiscal Agent. Inclosures. http://fraser.stlouisfed.org/ LETTER SENT TO Federal Reserve Bank of St. Louis .ALL CHAIRiVlEN. • X:-1588a RESOLUTION LEVYING ASSESSi.'IBNT \7hereas, under section 10 of the act approved December 23, 1913, and known as the Federal Reserve Act, the Federal Reserve Boatd is empowered levy semi-an~ually upon the Federal Reserve Banks in proportion to their capital stock and surplus a:i.l 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 witl1 any deficit carried fo~vard from the preceding half year; and to \v.hereas, it appears from estimates submitted and considered that it is necessary that a fund equal to one hundred seventy-six thousandths of one per cent ( .00176} 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, That pursuant to the authority vested in it by law, the Federal Reserve Board hereby levies an assessment upon the several Federal Reserve Ban~s of an amount equal to one.hundred seventy-six thousandths of one per cent (.00176} of the total paid-in capital stock and surplus of such banks, and the Fiscal Agent of ~1e Board is hereby authorized to collect from said banks such assessment and execute, in the name of the Board receipts for payments made. Such assessment will be collected in t~o installments of one-half each; the first instal~nent to be paid on July 1, 1919, and the second half on September 1, 1919. .. . ~C-1588b ESTDVIA'J:E FOR ·J1JLY 1919, ASSESSI;~l'J'l:o Average monthly encvnforance for period January 1,1919, to JUJ.1e 30, 19l9c" . . . . . . . . . . . $45,027 .. 28 Estimated r.1onthly requirements, July 1 to December 31, 1919~ inclm;ive . • " • • . 48,605.00 o Estimated r.10nthly i:lcrease , 3,577 .. 72 $00&*6 Estimated requirements, June to • • • 291,630,00 December 1919, inclusive • • • • • • . • • • 4,000.00 Estimated unenc1..:u:ubered balance Jm1e 30, 1919 • • • • 287,630.00 Estimated paid-in capital and surplus of Federal Reserve Banks, as of close of business June 30, 1919 • o • • • • • • .An assessment of one hundred seventy-six thousandths of one per cent ( ,00176) will produce • oo•400QOaoooe-o . 163,700,000.00 I have the honor to recommend., therefore, that an assessment of one hundred seventy-six thousandths of one per cent (.00176} be levied. Fiscal .Agent. 288,112..00 DETAILED STA1:'E;1IENT OF "' . B2:?El~lil'i'UBJ,_;J AlU COl=:iiTi.J.:.:l·i'J:L~ AS A BASIS 01<' ESTiiviN1':2 Estimated monthly reEstimate quirements .. i~~~~eJuly 1 to Dec .. . -:mthly aver.-'c'f. Jan .. 1 to •Ju.; 10 30• 1919. - - - - - - - . , . - - - - - - - - - - - _____________. ;: 1;_;:_9=1.: . 9-:-_ _--..=31::.:,L-::1;.:;..9=1~9.:.___ PERSON~ SERVICES: :;;6,366.77 Board and its clerks • Secretary's office • 3,655.88 Counsel's office • • • 1,979.52 Division of Audit and Exar1inR.tion. , 5,195.36 Division of Reports an~ S~atistics • 4,.103 .. 09 Division of A11alysis ana. Research 1,411 ... 78 Division of Issue . . , , . . . , • . • . 2.,867 .. 53 :.1essengers ·• • • 722~22. .Charwomen • • • • • . 77 ... (1.~ Archi tee ture 402.78 Contingent • ~?26, 782.79 NONPERSONAL ~VICES: Transportation and subsistence Board and its clerks • • • • • 201.57 Secretary• s office • • • • • • • • • 19 .. 99 Division of Audit and Examination .2,887,.46 Division.of Reports and Statistics • Division of Analysis and Research. 70 .• 20 Counsel's Office • • . • • • • • ::.:e ssengers • • • • • . 4 .. 17 Communication service Telephone 182.89 'i'elegra.:ph • • • , • • 206 .. 11 • 18.25 Postage . • • • • • • • • • Printing and binding, etc • . • • • 3,099.45 Contract repairs • • • • • • • 13.00 Electricity (light and l)Oiver) 35.20 St e2ii1 ( l1ea t ) 25.00 Other nonpersonal services 338.48 e o SUpplies Stationery • • • • • • • e • • • • • • • 447.03 Periodicals • • • • • • o • • • • • • •o 21 .. 31 .. • 0 • • • • 0 0 Q Other • 0 • 0 • ., . . • • . 6 • • • o • • 267 .. 76 • Equipment: Furniture and Office ••• 746.41 Books • • • • • • • • • • • • • • • • 35.87 Gold-Settlen1ent Fo~1d (including salaries) • 869.84 Rent • • • • • 652.77 Contingencies. TOTAL • • • • e e • e • 10,142.76 o DIVISION OF • • • 0 • 0 o ••• • o •••••••• FOREIGN EXCHANGE GRAl'if.D TO TAL • • Total expenditures and committments January 1 to June 30, 1919 • • • • http://fraser.stlouisfed.org/ Total estimate for next six months • Federal Reserve Bank of St. Louis 0 • • • • • • 0 • • :$6~39~;50 3,595,.00 2.,090 .. 00 5.224.99 4,290.84 1,337.50 3,1~8.49 7!50.65 78.0G 555.56 $7,500.00 4,000 .. 00 2,500 .. 00 6,000.00 4,5oo~oo 1,600.00 3,500.00 750 ... 00 100.00 560 .. 00 2 000,.00 $27,442.53 $33.010.00 182.21 10 .. 00 3,128.78 200.00 100 .. 00 3,500.00 55.0(., 100 .. 00 5.00 5.00 1%.40 225 .. 50 20.00 2,500 .. 00 15.00 35.20 25.00 490 .. 31 200.00 250.00 20.00 3.500.00 15.00 35.00 25.00 350 .oc 576.97 36.80 450.00 30.00 275.00 315.35 856.40 30.00 875.84 719.83 700.00 40.00 1,ooo .. oo 800.00 1 000 .. 00 10. 2.91.59 12,595.00 8.101.73 6.597.39 3,000~00 45~027. 28 44,331.51 48,605,00 • Qo • • • • • ~ • • • • 270,1C3.70 • • • • • • • • 291,~0.00
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