Full text of Mimeograph Letters and Statements of the Board : Letter From the Fiscal Agent re Expense of Main Line, Leased Wire System, June, 1940, Number R-679, Volume 53, Page 24

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24:
BOARD OF GOVERNORS
OF THE

FEDERAL RESERVE SYSTEM
R-679

WASHINGTON

ADDRESS OFFICIAL CORRESPONDENCE
TO THE BOARD

July 20, 1940

Dear Sir:
There is attached a cop,y of the report of expenses of the main lines of the Federal Reserve Leased Viire System for the month
of June 1940.
Please credit the amount p~able b.1
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 Interdistric:t Settlement
Fund for the account of the Board of Governors
of the Federal Reserve System, and advise the
Federal Reserve Bank of Richmond qy mail the
amount and purpose of the credit.
Very truly yours,

~~
0. E.
Foulk,
Fiscal Agent.

Enclosure
TO PRESIDENTS OF ALL FEDERAL RESERVE
Ti~JCCEPT RICHMOND




B&~S

25

R-679-a
REPORT OF EXPNqSES OF MAIN LINES OF FEDERAL RESERVE
LEASED WIRE SYSTEM FOR THE MONTH OF JUNE 1940

Words Sent
by N.Y.
Chargeable
to Other
F.R. Banks

Total
Words
Chargeable

Expenses
Paid
by Ba..'1kS
and
Board(2)

Pro Rata
Share of
Total Expenses (l)

Federal
Reserve
Bank

Number
of Words
Sent

Boston
New York
Philadelphia
Cleveland

25,011
66,821
16, 7/+2
30,425

849
827

25,827 $ 468.65 $
66,821
1,212.52
319.20
17,591
31,252
567.09

Richmond
Atlanta
Chicago
St. Louis

24,400
38,765
59,839
41,059

815
815
882
815

25,215
39,580
60,721
lrl_,874

457.55
718.21
1,101.83
759.84

212.56
239.76
1,225.58
240.59

Minneapolis
Kansas City
Dallas
San Francisco

20,333
40,306
34,070
46,179

814
815
845
822

21,147
41,121
34,915
47,001

383.73
746.17
633.56
852.87

198.91
2?3 .06
273.39
418.01

374,426

6,794.25

10,180.81

327,491

15,015.47

15,015.47

Board of
Governors

374,426

Total

818,376

816

9,115

Payable
to
Board
of Governors

288.37 $ 180.28
952.75
259.77
249.17
70.03
262.51
304.58
244.99
478.45
123 .75(a)
519.25
181~.82

47.3.11
360.17
434.86

3,510.31
123 .75(a)
3,386.56

(1)

Based on cost per word ($.018145780) for business handled during the month.

(2)

Pa,yments by Banks are for personal services a..'"1d suppli•3S and payments by Board
are for personal services and supplies (:~1,1..95 .ll) and wire rental ($8,685. 70).
Personal services include salaries of main line operators and of clerical help
engaged in work on main li.'1e business, such as counting the number of words in
messages; also overtime and supper money and Retirement System contributions at
the CliTrent service rate.

(a)

Credit--reimbursable to Chicago.