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FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE T O THE FEDERAL RESERVE BOARD X-6020 A p r i l 21, 1928* SUBJECT: Expense, Main Line, Leased Wire System, March, 1928. Dear S i r : Enclosed, h e r e w i t h you w i l l f i n d two mimeograph s t a t e m e n t s , X-6020-a and. X-6020-b, c o v e r i n g i n d e t a i l o p e r a t i o n s of t h e main l i n e , Leased Wire System, d u r i n g t h e month of March, 1928. P l e a s e c r e d i t t h e amount payable by your bank i n the g e n e r a l a c c o u n t , T r e a s u r e r , U. S . , on your books, and i s s u e c/D Form 1, N a t i o n a l Banks, f o r account of " S a l a r i e s and Expenses, F e d e r a l Reserve Board, S p e c i a l Fund", Leased Wire System, s e n d i n g d u p l i c a t e C/D t o t h e F e d e r a l Reserve Board. Yours v e r y t r u l y , F i s c a l Agent. Enclosures. TO GOVERNORS OF ALL F . R. BAMS EXCEPT CHICAGO. X-6020~a REPORT SHOWING CLASSIFICATION AND NUMBER OF WORDS TRANSMITTED OVER MAIN LINE OF THE FEDERAL RESERVE LEASED WIRE SYSTEM FOR THE MONTH OF MARCH, 1928. From Boston iTew York Philadelphia Cleveland Richmond Atlanta Chicago St, Louis Minneapolis Kansas City Dallas San Francisco Total F. E.Board Business reported by "banks 38,141 167,336 46,999 86,352 64,385 61,332 126,436 88,445 37,463 90,545 72,532 134,507 1,020,476 Total P e r c e n t of T o t a l Words sent "by New York chargeable to o t h e r F.R. Banks(l) 1,233 - 1,129 2,798 2,944 6,819 3,708 1,052 3,123 3,239 5,430 3,645 35,120 ' Total Treasury Department Business 39,374 167,336 48,128 89,150 67,332 68,151 130,144 89,497 40,586 93,784 83,962 138,152 5,187 14,549 5,654 6,950 7,130 8,464 10,795 7,153 4,191 6,877 5,268 11,179 1,055,596 429,065 93,397 88,427 962,199 340,638 1,484,561 100.00$ 181,824 12.254 1,302,837 87.751 War Finance Corporation Business — — — — — — _ _ " — — - Net Federal Reserve Bank Business P e r c e n t of t o t a l bank Business(*) 34,187 152,787 42,474 82,200 60,202 59,687 119,349 82,344 36,395 86,907 78,694 126,973 3-55 15.88 4.42 8.54 6.26 6.20 12.40 8.56 3.78 9.03 8.18 13.20 100.00% (*) These p e r c e n t a g e s used in c a l c u l a t i n g the pro r a t a share of l e a s e d wire exoense as shown on the accompanying statement (X-6020-t>). (1) Number of words s e n f b y New York to o t h e r F. R. Banks f o r t h e i r s o l e "benefit charged to "banks i n d i c a t e d in accordance with a c t i o n taken a t Governors' Conference November 2 - 4 , 1925. REPORT OF EXPENSE MAIN LINE FEDERAL RESERVE LEASED 71BE SYSTEM, MASSH, 1928 Name of Bank Operators 1 Salaries Boston $ 260.00 Mew York 995.72 Philadelphia 225.00 Cleveland 296.66 Richmond 190.00 Atlanta 270.00 Chicago 3,903.72 (#) St. Louis 205.00 Minneapolis 179.03 Kansas City 275-64 Dallas 251.00 San Francisco 370.00 Federal Reserve Board T o tal (&) (#) (*) (a) (b) $7,421.83 Operators' Overtime Wire Rental Total Expenses Pro Rata Share of Total Expenses $ - - - - 260.00 $ 712.21 3,185-91 995-78 225.00 886.76 296.66 1,713.33 $ 230.00(&) 420.00 1,255.91 270.00 1,243.87 2,487-74 3,903.72 205.00 1,717.34 179.03 758.36 1,811.64 275-64 l,64l.li 251.00 2,648.24 370.00 15,210.50 15,210.50 - - - - - - - $15,440.50 $22,862.33 $20,062.42 2.799.91(a) $20,062.42 X-6020-b Credits $ 260.00 995-78 225.00 296.66 420.00 270.00 3.903-72 205.00 179.03 275-64 251.00 370.00 Payable to Federal Reserve Board $ - $7,651.83 - $13,826.57 -1,415.98(b) $12,410-59 Main l i n e r e n t a l , Richmond—Washington. Includes s a l a r i e s of Washington o p e r a t o r s . Credit. Received $2,799-91 from Treasury Department covering "business f o r t h e month of March, 1928. Amount reimbursable to Chicago. 452.21 2,190.13 661.76 1,416.67 835-91 973-87 1,415.98 ( 1,512.34 579-33 1,536.00 1,390.11 2,278.24
@FedFRASER