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BOARD OF G O V E R N O R S OF THE FEDERAL RESERVE SYSTEM R-771 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 BOARD January 16, 194-1 Dear Sir: There is attached a copy of the report of expenses of the main lines of the Federal Reserve Leased Wire System for the month of December 194-0. Please credit the amount payable ty your Bank to the Board, as shown in the last column of the statement, to the Federal Reserve Bank of Richmond in your daily statement of credits through the Inter-district Settlement Fund for the account of the Board of Governors of the Federal Reserve System, and advise the Federal Reserve Bank of Richmond by mail the amount and purpose of the credit. Very truly yours, 0. E. Faulk, Fiscal Agent. Enclosure TO PRESIDENTS OF ALL FEDERAL RESERVE BANKS EXCEPT RICHMOND R-771-a REPORT OF EXPENSES OF MAIM LIMES OF FEDERAL RESERVE LEASED WIRE SYSTEM FOR THE MONTH OF DECEMBER 1940 Federal Reserve Bank Number of Words Sent Boston New York Philadelphia Cleveland 29,633 83,906 23,419 40,348 Richmond Atlanta Chicago St. Louis 44,241 44,055 66,909 43,427 Minneapolis Kansas City Dallas San Francisco 19,423 40,601 37,084 54,010 Board of Governors 372,894 Total 899,950 Words Sent by N. Y. Chargeable to Other F.R. Banks 692 - 695 696 692 691 737 Total Words Chargeable 30,325 83,906 24,114 41,044 S 688.82 340.17 868.68 240.53 286.61 330.96 241.41 1,273.98 230.94 508.93 1,408.15 404.69 $ 692 44,119 754.09 750.95 1,135.26 740.42 692 20,115 41,293 37,861 54,705 337-58 693-00 635.40 918.08 190.69 273.01 272.78 430.32 372,894 6,258.07 10,253.36 907,701 115,233.44 $15,233.44 692 777 695 7,751 44,933 44,746 67,646 Payable to Board of Governors Expenses Paid by Banks and Board (2) Pro Rata Share of Total Expenses (l) $ 168.76 539-47 164.16 402.21 423.13 509.54 138.72(a} 509.48 146.89 419.99 362.62 487-76 $4,134.01 138. 72(a) $3,995.29 (1) Based on cost per word (4.016782443) for business handled during the month. (2) Payments by Banks are for personal services and supplies and payments by Board are for personal services and supplies ($1,157.98) and wire rental ($9,563.10) less amount ($467.72) 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, Reconstruction Finance Corporation, and the Commodity Credit 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) Credit—reimbursable to Chicago.
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