The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
W . P . G . H A R D I N G , GOVERNOR EX OFFICIO MEMBERS 874 A L B E R T S T R A U S S . VICE GOVERNOR ADOLPH C. MILLER CARTER GLASS SECRETARY OF THE TREASURY CHAIRMAN C H A R L E S S . HAMLIN FEDERAL RESERVE BOARD J O H N SKELTON WILLIAMS COMPTROLLER OF THE CURRENCY W . T . C H A P M A N , SECRETARY R . G . E M E R S O N , ASSISTANT SECRETARY ADDRESS REPLY TO FEDERAL RESERVE BOARD W . M. IMLAY, FISCAL AGENT WASHINGTON November 12,1919" Subject: HENRY A. MOEHLENPAH X-1722 P r e p a r a t i o n of Annual Report* Dear S i r : I t was explained to you when you were here a t the r e c e n t conf e r e n c e of F e d e r a l Reserve Agents t h a t the J o i n t Committee on P r i n t i n g had p r e s c r i b e d c e r t a i n l i m i t a t i o n s as to the s i z e of the volume containing the Annual Report of the Board and the e x h i b i t s and supplements t h e r e t o . Therefore, should the r e p o r t s of the Federal Reserve Agents be published as h e r e t o f o r e as supplements t o the Board's r e p o r t i t would probably be necessary to place r e s t r i c t i o n s Upon t h e i r scojpe arid 'lengtil* which might be u n s a t i s f a c t o r y t o the banks i n the r e s p e c t i v e d i s t r i c t s and. t o the Federal Reserve Agents themselves. The Board has, t h e r e f o r e , decided t h a t i t w i l l not ask you t o observe c l o s e l y t&e o u t l i n e d l i m i t a t i o n s provided f o r previous r e p o r t s , but t o ask i n s t e a d , t h a t you make such a r e p o r t a s , i n your judgment, w i l l give a s a t i s f a c t o r y review of the v a r i o u s f i n a n c i a l and commercial a c t i v i t i e s of your d i s t r i c t during the period covered by the r e p o r t . These r e p o r t s can be published i n f u l l by each Federal Reserve Bank and d i s t r i b u t e d on an agreed date i n advance of the p u b l i c a t i o n of the Board's r e p o r t . I t might be d e s i r a b l e t o have the r e p o r t s from a l l twelve d i s t r i c t s bound i n a s i n g l e volume, which can be done very r e a d i l y with comparatively small expense. The Board w i l l i n i t s own r e p o r t p u b l i s h an a b s t r a c t of the r e p o r t of each Federal Reserve Agent i n s t e a d of p u b l i s h i n g the r e p o r t s im f u l l , as h e r e t o f o r e , and i n order t o a s s i s t the Board i n the p r e p a r a t i o n of these a b s t r a c t s you are requested to g i v e , immediately following the i n t r o d u c t i o n , a general review of the s e r v i c e and a c t i v i t i e s of the Federal Reserve Bank during the y e a r , t o be followed by a statement and d i s c u s s i o n of earnings and expenses* For such use as you may care t o make of i t i n the p r e p a r a t i o n of your annual r e p o r t , there i s enclosed herewith a copy of Board*s c i r c u l a r l e t t e r of November 15, 1918,(X-1270) with the request t h a t you t r a n s f e r Section 2 , r e l a t i n g t o g e n e r a l business and banking c o n d i t i o n s i n your d i s t r i c t , t o the end of the o u t l i n e . Very t r u l y yours, Governor. l e t t e r t o a l l F.R. Agents
@FedFRASER