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E x OFFICIO MEMBERS W . P. 6 . H A R D I N G , GOVERNOR E D M U N D PLATT,VICE GOVERNOR DAVID F. HOUSTON SECRETARY OF THE TREASURY CHAIRMAN JOHN SKELTON WILLIAMS F E D E R A L COMPTROLLER OF THE CURRENCY R E S E R V E B O A R D W . T. CHAPMAN, SECRETARY A D D R E S S REPLY TO F E D E R A L ADOLPH C. MILLER CHARLES S. HAMLIN HENRY A. MOEHLENPAH R . G . E M E R S O N , ASSISTANT SECRETARY WASHINGTON R E S E R V E B O A R D W . M . I M L A Y . FISCAL A 6 E N T November l 6 , 1920St. 1577. SUBJECT: P r e p a r a t i o n of Annual Reports * Dear S i r : On account of the l i m i t a t i o n s a s to the s i z e of the Annual Report of t h e Board, and the e x h i b i t s and supplements t h e r e t o , as o u t l i n e d i n the Board 1 s l e t t e r X-1722 of November 12, 1919, t h e Board has d e c i d e d t o f o l l o w the p l a n adopted l a s t year of p u b l i s h i n g an a b s t r a c t of the r e p o r t of each F e d e r a l Reserve Agent i n s t e a d of publ i s h i n g t h e r e p o r t s i n f u l l * Accordingly, t h e Board w i l l not p r e s c r i b e a s p e c i f i e d form to which r e p o r t s of F e d e r a l Reserve Agents s h a l l adh e r e , but would ask t h a t you give, immediately f o l l o w i n g the i n t r o d u c t i o n , a g e n e r a l r e v i e w of the s e r v i c e and a c t i v i t i e s of the F e d e r a l Reserve Bank d u r i n g the y e a r , t o be followed by an e x h i b i t of e a r n i n g s an&expenses. In o r d e r , however^ t h a t the s t a t i s t i c a l p o r t i o n of t h e abs t r a c t s of the F e d e r a l Reserve Agents 1 r e p o r t s t o be p u b l i s h e d i n t h e B o a r d ' s f o r t h c o m i n g 1920 Annual Report may be compiled i n a u n i f o r m manner f o r a l l F e d e r a l Reserve Banks, may we r e q u e s t t h a t t a b l e s be p r e p a r e d and forwarded t o t h e Board i n accordance w i t h t h e f o l l o w i n g l i s t , a l l f i g u r e s to be i n thousands of d o l l a r s e x c e p t i n t a b l e r e l a t i n g to e a r n i n g s and expenses where t h e amounts should be shown i n dollars: 1. Comparative balance sheet as of December 31 f o r the years 1917 t o I920 p r e s e n t e d i n t h e form now used iti t h e B o a r d ' s weekly p r e s s s t a t e m e n t . 2. Volune of b i l l s d i s c o u n t e d and purchased e a c h month d u r i n g 1920 w i t h t o t a l s f d r t h r e e p r e c e d i n g y e a r s * (Exclusive of b i l l s d i s c o u n t e d f o r ot purchased from o t h e r F e d e r a l Reserve Banks) * Form ~ See a t t a c h e d sheet marked e x h i b i t A* 3• Operations of check c l e a r i n g and c o l l e c t i o n d e p a r t m e n t . D e t a i l e d c l a s s i f i c a t i o n of the number and amount of items h a n d l e d , by months, d u r i n g 1920, w i t h t o t a l s f o r tne t h r e e p r e c e d i n g yedrs • (Figures fray be f o r d a l e n d a r months or f o r monthly p e r i o d s ending on the 15 t h of each month) » Form •* See a t t a c h e d sheet marked e x h i b i t B. 1330. . - 2 - U. Currency receipts frcm and shipments to member and ncnm ember "banks, by months, during 1$20 with t o t a l s for the three preceding y e a r s . Form - See attached sheet marked exhibit C. 5* Earnings and expenses during 1920, with t o t a l s for three preceding years. Form - Same form as adopted in Federal Reserve Board's 1919 -Annual Report. (Exhibit G, -pages 2322 3 4> • • * I t i s not intended i n the foregoing s p e c i f i c a t i o n of tables for use i n the Board's Annual Report to impose any r e s t r i c t i o n upon the matter to be included i n the f u l l reports of the Federal Reserve Agents. I t i s desired, however, that, as heretofore, the manuscript for the text of your report be forwarded to the Board as early as practicable, a l s o that the s t a t i s t i c a l tables included i n the report be forwarded to the Board as soon a f t e r January 1 as possible in order that we may be able to compare figures in such tables with corresponding figures compiled by the Board for insertion in i t s Annual Report and reconcile d i f f e r e n c e s before any of the Federal Reserve Agents' reports are released for publication. In addition the Board w i l l prepare a table for each Federal Reserve Bank to replace exhibits A and B of the 1919 Annual Report, in which, both i n the case of discounted and purchased b i l l s , adjustments on account of transactions with other Federal Reserve Banks w i l l be made in order to show the amounts of b i l l s discounted for member banks in own d i s t r i c t and the amount of b i l l s purchased in the open market. The statement w i l l be prepared in accordance with the form attached hereto marked exhibit D. Fran data given i n these tables two charts similar to those, printed i n the Board's 1919 Annual Report w i l l be prepared by the Board, one showing the r e l a t i o n of reserves to Federal Reserve note and net dep o s i t l i a b i l i t i e s , and the other showing the*movement of earning assets, including the amount of paper discounted for member banks in own d i s t r i c t and the percentage of such paper secured by Government war o b l i g a t i o n s . Copies of the above mentioned tables and charts w i l l be forwarded to you when completed. Very truly yours, Governor. Letter sent to each Federal Reserve Agent.
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