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FEDERAL RESERVE BOARD WASHINGTON address official correspondence t o the federal reserve board X-7S61 May 1, 1934 SUBJECT: Expense, Main Lines, Leased Wire System, March, 1934. Dear Sir: Inclosed herewith you M.11 find tvo mimeographed statements, X-7861-a and X-7881-b, covering in detail operations of the main lines, Leased Wire System, during the month of March, 193^• Please credit the amount payable "by your hank 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 Fond for the account of the Federal Reserve Board, and advise the Federal Reserve Bank of Richmond by vire the amount and purpose of the credit. Very truly yours, Fiscal Agent Inclosures TO GOVERNORS OF ALL F. R. B A M S . X-7881-a REPORT SHOWING CLASSIFICATION AMD NUMBER OF WORDS TRANSMITTED OVER MAIN LINES OF THE FEDERAL RESERVE LEASED WIRE SYSTEM FOR THE MONTH OF MARCH, 1934. Business reported by banks From 37,521 Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 177,184 31,897 61,343 62,760 57,790 104,965 70,604 39,786 81,334 63,598 Total 93,862 882,644 F. R. Board business Reimbursable business Incoming & Outgoing Words sent by New York chargeable to other F. R. Banks (l) Net Federal reserve bank business 1,687 39,208 177,184 33,717 1,820 1,538 1,591 1,855 62,881 64,351 59,645 107,465 2,500 1,876 1,595 1,639 3,683 3,370 23,154 72,480 41,381 82,973 67,281 97,232 905,798 . . . . . . 386,014 . Total words transmitted over main lines (*) These percentages used in calculating the pro rata share of leased wire expense as shown on the accompanying statement (X-7881-b). (l) Number of words sent by New York to other P. 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 (*) 4.33 19.56 3.72 6.94 7.10 6.59 11.86 8.00 4-57 9.16 7.43 10.74 100.00 1,291,812 762,406 2,054,218 % REPORT OF EXPENSE MAIN LIMES FHUXHEUL RESERVE LEASED WIRE SYSTEM, MARCH, 193%. Operators' salaries Fame of Bank Boston Hew York Philadelphia Cleveland Richmond Atlanta Chicago St* Louis Minneapolis Kansas City Dallas San Francisco Federal Reserve Board Total $260.00 1,279.1% 225.00 306.66 191.00 270.00 4,548.59 (#) Operators 1 overtime $5; 00 4.00 - — - 195.00 200.00 287.00 251.00 380.00 - - - - - - $ 9.00 Less Reimbursable Charges: (&) (f) (*) (a) $265.00 1,283.14 -* 225.00 306.66 421.00 230.00 (&) - - - Total expenses $ - 270.00 4,548.59 195.00 - 200.00 - 287.00 - - — $8,393.39 Wire rental 15,785.06 $16,015.06 251.00 380.00 15,785.06 $24,417.45 9,062.33 $15,355.12 X-7881-1 Pro rata share of total expenses Credits $664.88 3,003.46 571.21 1,065.64 1,090.21 1,011.90 1,821.12 1,228.41 701.73 1,406.53 l,140.89 1,649.14 $265.00 1,283.14 225.00 306.66 421.00 270.€0 4,548.59 195.00 — — $15,355.12 200.00 287.00 251*00 380.00 $8,632.39 Payable to Federal Reserve Board $399.88 1,720.32 346.21 758.98 669.21 741.90 2,727.47 (*) 1,033.41 501.73 1,119.53 689.89 1,269.14 — $9,450.20 2,727.47 (a) $6,722.73 Main line rental, Richmond-Washington Includes salaries of Washington operators Credit Amount reimbursable to Chicago iO Ox
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