Full text of Mimeograph Letters and Statements of the Board : Letter From the Fiscal Agent re Expense of Main Line, Leased Wire System, June, 1929, Number X-6346, Volume 31, Page 33

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE BOARD
WASHINGTON
ADDRESS OFFICIAL CORRESPONDENCE TO
THE FEDERAL RESERVE BOARD

X-6346
July 24, 1929.

SUBJECT: Expense, Main Line, Leased Wire System,
June, 1929.
Dear Sir:
Enclosed herewith you will find two mimeograph statements, X-6346-a and X-6346-b, covering in
detail operations of the main line, Leased Wire System, during the month of June, 1929.
Please credit the amount payable by your
bank in the general account, Treasurer, U. S., on
your books, and issue C/D Form 1, National Banks, for
account of "Salaries and Expenses, Federal Reserve
Board, Special Fund", Leased Wire System, sending
duplicate C/D to the Federal Reserve Board.
Very truly yours,

Fiscal Agent.

Enclosures.
TO GOVERNORS OF ALL F. R. BANKS EXCEPT CHICAGO.




HEPOBT SHOWING CLASS IFI Gill ON AND NUMBER OF TOHDS TRANSMITTED OVER MAIN LINE
OF THE FEDERAL RESERVE LEASED WIRE SYSTEM KIR THE MONTH OF JUNE, 1929.
X-6346-a

From

Business
reported
by
banks

Boston
New York
Philadelphia
Cleveland
Richmond
Atl i nta
r
Chic ago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Total

Words sent by
New York chargeable to other
F. R. Banks (1)

30,619
161,681
35,016
87,316
55,060
63,303
122,330
78,128
37,611
80,354
67.827
107.893
927,138

Net Federal
Reserve
Bank
business

1,247

31,866
l6l,681 '
36,129
89,732
57,205
69,238
124,309
79,275
40,082
81,290
74,429
111.556
956,792

-

1,113
2,4I6
2,145
5,935
1,979
1,147
2,471
936
6,602
1.663
29,654

F. R. Board business

Percent of total
bank business(*)

...

3-33
16.90
3.77
9-38
5-98
7.24
12.99
8.28
4.19
8.5O
7-78
11.66
100.00

240.535

1,197,327

Treasury Department business - Incoming and Outgoing
Total words transmitted over main lines

181.673
.

(*) These percentages used in calculating the pro rata share of leased wire expense as shown
on the accompanying statement (X-6346-b)
(l) 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 Governors1 Conference
November 2 - 4 , 192$.




1,381,000

X-6346-b

REPORT OF EXPENSE MAIN LINE
FEDERAL RESERVE LEASED WIRE SYSTEM, JUNE, 1929-

Name of Bank

Operators'
Salaries

Operators'
Overtime

$

$ 260.00
Boston
1,170.80
New York
225.00
Philadelphia
296.66
Cleveland
232.00
Richmond
270.00
Atlanta
4,096.06 (#)
Chicago
St. Louis
354.33
183-66
Minneapolis
287.50
Kansas City
251.00
Dallas
380.00
San Francisco
Federal Reserve Board
Total

$8,007.01

Wire
Rental

$

230.00(4)

2.00
• 75

$

2.75

Total
Expenses

JSL 563.73
$15,793.73

Pro Rata
Share of
Total
Expenses

260.00
1,170.80
225.00
296.66
462.00
270.00
4,096.06
356.33
183.66
287.50
251.75
380.00
1^,563.73

$ 657.23
3,487-76
778.04
1,935.51
1,234.13
1,494.16
2,680.83
1,708.79
864.72
1,754.20
1,605.61
2,4o6.35
=

$23,803.49 $20,637.63
86(a)
. 3,165.
$20,637.63

Payable to
Federal
Reserve
Credit s Board
$ 260.00
1,170.80
225.00
296.66
462.00
270.00
4,096.06
356.33
183.66
287.50
251.75
380.00
—
—
$8,239.76

$

427.23
2,316.96
553.04
1,639.15
772.13
1,224.16
1,415.23 (*)
1,352.46
681.06
1,466.70
1,353.86
2,026.35
=
$13,813.10 x
1.415.21(b)
$12,397.87

(&) Main line rental, Richmond-Washington.
(#) Includes salaries of Washington operators.
(•) Credit.
(a) Received $3,165.86 from Treasury Department covering "business for the month of June, 1929*
(to) Amount reimbursable to Chicago.