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FEDERAL RESERVE BOARD washington 7805 ADDRESS OFFICIAL CORRESPONDENCE T O THE FEDERAL RESERVE BOARD February 28, 1934. SUBJECT: Expense, Main Lines, Leased Wire System, January, 1934. Dear Sir: Inclosed herewith you will find two mimeographed statements, X-7805-a and X-7805-b, covering in detail operations of the main lines, Leased Wire System, during the month of January, 1934. Please credit the amount payable by your bank for your share of the expense of the Leased Wire System, to the Federal Reserve Bank of Richmond in your daily statement of credits through the Gold Settlement Fund for the account of the Federal Reserve Board, and advise the Federal Reserve Bank of Richmond by wire the amount and purpose of the credit. Very truly yours, Fiscal Agent. Inclosures. TO GOVERNORS OF ALL F. R. BAHKS. X-7805-a REPORT SHOWING CLASSIFICATION Aim NUMBER OF WORDS TRANSMITTED OVER MAIN LINES OF THE FEDERAL RESERVE LEASED 'FIRE SYSTEM FOR THE MONTH OF JANUARY, 1934. Business reported by banks From Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis [Kansas City JBallas JSan Francisco 39,423 l6l,801 34,474 60,507 59,989 60,848 96,550 71,732 45,879 93,004 Total 66,495 102,608 893,310 F„ R. Board business Words sent by New York chargeable to other F. R. Banks (1) 1,999 - 1,908 1,638 1,947 1,99s 2,118 2,122 1,979 1,991 4,709 3,358 25,767 Net Federal reserve bank business 41,422 161,801 36,382 4.51 17.60 61,936 62,846 98,668 73,854 6.74 6.84 10.73 62,145 47,858 94,995 71,204 105,966 919,077 422,4^4 jieimb-ursable business Incoming & Outgoing "3otal words transmitted over main lines t*) These percentages used in calculating the pro rata share of leased wire expense as shown on the accompanying statement (X-7805-b). (1) Number of words sent by New York to other F. R. Banks for their sole benefit charged to banks indicated in accordance with action taken at Governors' Conference November 2-4, 1925 • Per cent of total Bank business (*) 3.96 6.76 8.03 5.21 10.34 7.75 11.53 100.00 1,3^1,531 889,759 2,231,290 0 01 REPORT OF EXPENSE MAIM LINES FEDERAL RESERVE LEASED WIRE SYSTEM, JANUARY, Name of Bank Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco Federal Reserve Board Total Operators' salaries $260.00 1,284.14 225.00 306.66 190.00 270.00 4,076.03 195.00 193.60 287.00 251.00 380.00 $7,918.43 Operators1 overtime Total expenses Wire rental $264.00 $4.00 23.OO 1,307.1% 225.00 306.66 230.00 (&) (#) Pro rata share of total expenses Credits $654.92 2,555.81 575.06 981.66 $264.00 1,307.14 978.76 993.28 420.00 225.00 306.66 Payable to Federal Reserve Board $390.92 1,248.67 350.06 675.OO 558.76 723-28 756.58 270.00 4,110.03 196.50 193.60 1,125.42 1,674.34 251.00 380.00 380.00 1,203.14 874.42 1,294.34 15,982.08 (b)15,982.08 $16,212.08 $24,204.41 $14,521.63 :,222 J 3 $8,851.16 34.00 196.50 193.60 1.50 298.40 25I.OO 11.40 $73.90 420.00 270.00 4,110.03 X-7805-b 1934- 1,558.17 1,166.09 1,501.54 298.40 2,551.86 (*) 969.59 562.98 2,551.86 (a) 6,299.30 Reimbursable charges: Treasury Department $2,268.49 Reconstruction Finance Corporation . . 4,949-39 (b) Exp. Nat 1 1 Bkg. Emergency Act 3-9-33 • 2,148.01 Federal Deposit Insurance Corporation . 45*20 Postal Savings System 3^-53 120.44 Comp. Currency Div. Insolv. Nat'l Bks.. Farm Credit Administration 76-30 Central Banks Cooperatives 16.29 Home Owners Loan Corporation 17*76 Department Agriculture . . . . . . . 7«%8 Civil Works Administration .89 Less Reimbursable Charges . . $9,682.78 $14,521.63 (&) Main line rental, RichmondWashington (#) Includes salaries of Washington operators (*) Credit (a) Amount reimbursable to Chicago (b) This figure includes $51.44 cost oi overtime wire used by R. F. C. on December 31, 1933• ,, O
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