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F E D E R A L R E S E R V E B O A R D WASHINGTON address official correspondence t o t h e federal reserve board X-7922 June 19, 1934# SUBJECT: Expense, Main Lines, Leased Wire System, May, 1934. Dear Sir: Inclosed herewith you will find two mimeographed statements, X-7922-a and X-7922-b, covering in detail operations of the main lines, Leased Wire System, during the month of May, 1934. Please credit the amount payable by your bank 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 Fund for the account of the Federal Reserve Board, and advise the Federal Reserve Bank of Richmond by wire the amount and purpose of the credit« Very truly yours, Fiscal Agent. Inclosures. TO GOVERNORS OF ALL F. R. BANKS. REPORT SHOWING CLASSIFICATION A M ) NUMBER OF WORDS TRANSMITTED OVER MAIN LII35S OF THE FEDERAL RESERVE LEASED WIRE SYSTEM FOR THE MONTH OF MAY, 1934. Business reported "by banks From 31,881 Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 144,560 30,157 53,362 53,524 48,923 92,157 64,790 33,352 69,036 57,298 Total 83,621 762,661 F. R. Board business Words sent byNew York chargeable to other F. R. Banks (l) 1,257 1,445 1,267 1,321 1,418 1,735 1,576 1,274 1,338 2,378 2,952 17,961 Net Federal reserve bank business 33,138 144,560 31,602 5^,629 54,845 50,341 93,892 66,366 34,626 70,374 59,676 86,573 780,622 361,439 Reimbursable business Incoming & Outgoing Total words transmitted over main lines (*) (l) These percentages used in calculating the pro rata share of leased rire expense as shown on the accompanying statement (X-7922-b). . Number of vords sent by New York to other F. R. Banks for their sole benefit charged to banks indicated in accordance with action taken at Governors' Conference November 2-4, I925. X-7922-a Per cent of total Bank business (*) 4,24 18.52 4.05 1.00 7.03 6.45 12.03 8.5O 4.44 9.01 7.64 11.09 100.00 1,142,061 705,352 1,847,413 ? Q 05 REPORT OF EXPENSE MAIH LIEES FEDERAL RESERVE LEASED WIRE SYSTEM, MAY, 193%. !Mame of Bank Operators' salaries Retirement Contributions $260.00 $ 70.20 Boston 1,345 .80 Mew York 357.37 225 .00 Philadelphia 6O.75 82.80 306 .66 Cleveland 190 .00 Richmond 51.30 270 .00 Atlanta 72.90 4,279 .80(# Chicago 751.50 St. Louis 195 .00 52.65 268.21 82.12 Minneapolis Kansas City287.00 77.49 Dallas 251 .00 67.77 102.60 San Francisco 380.00 Federal Reserve Bd. $8,258.47 $1,829.45 Total Operators1 overtime $1.00 7.00 2.00 .75 $10.75 Less Reimbursable Charges: (&) (#) (*) (a) Main line rental, Richmond-Washington Includes salaries of Washirgton operators Credit Amount reimbursable to Chicago Wire rental Total expenses $ - $331.20 1,710.17 285.75 589.46 230.00(6) 471.30 342.90 5,033.30 248.40 350.33 364.49 318.77 482.60 15,690.26 15,690.26 $15,920.26 $26,018.93 9,934.16 $16,064.77 Pro rata share of total exnenses $681.99 2,978.90 651.43 1,125.93 1,130.76 1,037.47 1,935.00 1,367.21 714.16 X-7922-b Credits $331.20 1,449.24 1,228.88 1,783-80 1,710.17 285.75 389.46 471.30 342.90 5,033.30 248.40 35O.33 364.49 318.77 482.60 $16,0g4.77 $10,328.67 Payable to Federal Reserve Board $350.79 1,268.73 365.68 736.4? 659.46 694.57 3,098.30(*) 1,118.81 363.83 1,084.75 910.11 1,301.20 ?8,S54.4o 3.098.30(a) $5,756.10 05
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