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BOARD OF GOVERNORS
OF" THE
FEDERAL RESERVE SYSTEM
R-860
WASHINGTON
ADDRESS OF'F'ICIAL CORRESPONDENCE
TO THE SOARD
July- 21, 1941
Dear Sir:
The":-e is attached a copy of the report of expenses of the main lines of the Federal Reserve Leased Wire System for t:ne month
of .rune 19L~.
Please credit the ammmt p~rable b'.r
your Bank to the Board, as s~.1mm in the last
column of the statement, to thE< Federal Heserve
Bank of Ricr.:nond in your daily stateoent of
credits through tha Interdistrict Settlement
Fund. for the accou.<"l.t of the Board of Governors
of the Federal Heserve System, and advise the
Federal Reserve Bank of Richmond by mail the
amount and purpose of the credit.
Very tru]..y yours,
0. E. Foulk,
Fiscal Agent.
Enclosure
TO PRESIDENTS 01'' ALL FED:i:'-i.P..1 RESE...l\VE BANKS
EXCEPT RICHMOND
R-860-a
REPORT OF EXPENSES OF i\IIAIN LDii~S OF FE!),~!;R,.,\1 ?.ES:&l.VE
LE!1.SED WIRJ~ SYSTEi:l FOR THE MOUTH OF .TUNE 1941
Nurnber
of fiords
Sent
Federal
J1eservc
Bank
Words Sent
lJ;;r N • Y..
Chargeable
to OthGr
F.R. Banks
Total
Words
Chargeable
34,070
86,JJ+6
20,630
40,548
Boston
Hew York
Philadelphia
Cleveland
33,656
86,146
20,215
40,132
41L:.
fdchmond
Atlanta
Chicago
St. Louis
4'7,3?..8
L,l4
42,7Le9
4.L~
77,106
48,816
455
;,1inneapolis
Kansas City
Dallas
San Francisco
21~, 503
4/..,070
39,892
56,991
414
413
462
415
Board of
Governors
·rotal
/~.15
416
513.36
1,298.0/.1310.85
610.98
r-:·
t~,)
329.63
239.33
1,217.73
249.3:2
2/+,917
40,354
5'7 ,!+06
375-45
6'70.27
608.05
864.79
232.73
273.01
324.9.3
426.00
512,943
7,729.00
11,161.06
1}079,69.3
$.~16,268. 76
~~n.s, 268 • 76
/~,483
Payable
to
Board
of Governo:2s
387 ./~6 $ 125.90
870.'73
427.31
62.78
243.07
302.22
308.76
726.91
650.38
1,168.69
7/~l. 79
L~ol4
4,646
~)
48,242
43,163
77,561
49,230
512,943
1,075,047
Expenses
Paid
by Banks
and
Board (2)
Pro Rata
Share of
Total Expenses (1)
397.28
411.05
49.04(a)
492.47
142.72
397.26
283.12
1.]8.99
~~3 '/+81.10
~9.0£t(a)
$3,432.06
(1)
Based on cost per word ($.015067950) for business handled duri.Yig the month.
(2)
Payments by Bankfl are for personal servieas a.nd supplies and payments by Board
are for personal services and supplies U~l,261.47) and wire re11ta1 ($10,303 .62)
less amount ~404.03) representing reimbursement for the cost of sending messages bctw0en the Washington office of the Leased VJire System and the local
telegraph offices of the 'I'reaSU!"J, Reconstruction Finance Corporation, and
Corrnnodity Credit Corporc.tion. P<;rse;nal services include salaries of main
linG opera.tors a...11d of clerical help engaged in VIork on main line business,
such as counting tho number of words in rn0ssagos; also overtime and suppe:::money and Retirement Sjrstem contributions e.t the current service rate.
{a)
Credit--reimbursable to Chicago.
@FedFRASER