Full text of Mimeograph Letters and Statements of the Board : Letter From the Fiscal Agent re Expense of Main Line, Leased Wire System, August, 1941, Number R-887, Volume 55, Page 100

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BOARD OF GOVERNORS

i.OU

OF' THE

FEDERAL RESERVE SYSTEM
R-887

. WASHINGTON

ADDIIIEBB OF"F"ICIAL CORRESPONDENCE
TO THE BDAIIID

September 19, 1941

Dear Sir:
There is attached a copy of the report of r:;:;~penses of the main lines of the Federal Reserve Leased Wire .System for the month
of Augt.~st 191+1.
Please credit the amount payable by
y·our Bank to th.::: Board, as shovm in the last
column of the statement, to the Federr:;.l Res~rve
Bank of Richmond in your da.ily statement of
credits through the Interdistrict Settlement
Fund for the aceount of tbe Board of Governors
of the F'edera.l Reserve Syst<:ml, ,;md advise the
Federal Reserve Bank of Richmond by rr._'lil the

amount and purpose of the credit.
Very truly yours,

~~
Fiscal Agent.

Enclosure
TO THE PHFSIDENTS OF ALL FEDERi:\.1 HESEFcVE BANKS

EXCE.f"r EUCl-lMOND

R-887-a

.tu.i

REPORT OF EXPENSES OF MAIN LINES OF FEDEfiJiL RESERVE;
LEASED WIRE SYSTEM FOR THE MONTH OF AUGUST 1941
Words Sent
Federal
Reserve
Bank

N-umber
of Words
Sent

by N.

Chargeable
to other
F.R. Banks

Boston
New York
Philadelphia
Cleveland

19,796
38,116

266
266

Richmond
Atlanta
Chicago
St. Louis

47,426
/+1, 792
71, 95l:.
46,377

266
266
304
266

Minneapolis
Kansas City
Dallas
San Francisco

19,192
45,419
41,644
60,560

266
266
281
266

23,3hl

266

8l,lL~5

Board of
Governors
Total

Y.

631,469
1,173,231

2,979

Total
Words
Chargeable

Payable
to
Board
of GovernQrs

Expenses
Paid
by Baaks
and
.Qoard (6:}

Pro Rata
Share of
Total li~penses(l)

28.,607. $ hll.93 $
l,l.68.46
81,145
288.88
20,062
552.68
38,382

312.50

$

251.33
329.38

99.43
99.66(a)
37-55
223.30

?2,258
46,643

686.75
605.62
1,040.49
671.64

412.37
276.23
1,286.11
237.96

274.38
329.39
245.62(b)
433.68

19,458
h5,6S5
Ll,925
60,826

220.19
657.85
603.70
;575.87

230.74
274.30
336.86
431.28

6~~1,469

9,092.91

11,289.?9

h7,692
L~2,058

~ ?
~2
.L'
_o8, .l.
1

49-45
383.55
266.84
444.59

1,176,210 ~:16' 936.97 $16,936.97 $2,542.16
99.66(a)

242.62(b)

$2,196.88
(1)

Based on cost per word ($.014399614) for business handled during the month.

(2)

Payments by Banks are for personal services and supplies and payments by Board
are for personal services :tnd supplies ($l,l63.h8) and wire rental ($10,510.71)
less &'Ilount ($384.4.0) representing reimbursement for the cost of sending messages between the Washington office of the Leased Wire System and the local
telegraph offices of the Treasury and Recor;struction Finance Corporation. Personal services include salaries of main line operators and of clerical help
engaged in work on main line business, such as counting the number of words in
messages; also overtime and supper money and Retirement System contributions
at the current service rate.

(a)
(b)

Credit--reimbursable to New York.
Credit--reimbursable to Chicago.