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82 BOARD OF GOVERNORS OF" THE FEDERAL RESERVE SYSTEM R-694 WASHINGTON ADDRESS OF"F"ICIAL CORRESPONDENCE TO THE SOARD Aur;ust 22, 1940. Dear Sir: For your information there is enclosed a recapitulation of an audit submitted to the Secretary of the Treasury by Mr. IJI. R. Loa.fman, Chief, Division of Public Debt JJ.ccounts and Audits, showing the stock of incomplete face printed Federal Reserve notes, Series of 1928 and Series of 1934, and of urrl.form backs allocated to FederD..l Reserve notes, on hand at the Bureau of EP""L;ravi:ng £l.J.'1.d Printing at Washington as at the close of business June 30, 1940. In his letter trru1smitting the report to the Secrcto~ry of the Treasury, Mr. Loa.fman stated. that r "The audit extended from June 27 to July 1, 1940, inclusive. Except for the greater portion of Federal Reserve notes of Series 1934 of the $5.00 denomination whici1 l1ad previously been placed under Auditor's seal, all stocks of notes of this series, including those held for S])Ccimen purposes by the Bureau, were piece counted. The snall quantity of the $5.00 denomino.tion which had not been previously placed under Auditor's seal, was placed under such seal i.l:lnediatoly after being piece counted during the audit. This resulted in all stocks of the $5.00 denomination (ex:cept those held for specimens) being placed under Auditor's seal. f~l seals previously placed were properly inspected at that time. PJ.l stocks of Federal Reserve notes of Series 1928, except those held by the Bureau for specimen purposes, had previouslj' been placed under .Auditor 1 s seal. ~~1 inspection was made of the seals on the various bins containing such stocks and the seals were found to be intact. The notes of this series held for specinen purposes, were piece coQ'1.ted, 11 In view of the fact that a recent piece count has been made by this office of the entire stock of each denonination of uniforn backs on hand in the Bureau, a p<1ckage count and an inspection for denonino.tions of the uniforo backs allocated to Federal Reserve notes was deemed suSficient at this time. 83 -2- 11 The total sheets of oll denor.inntions on the whole o:: Federal Reserve notes, feces m1d backs were found to be in e)~ess of the total required reserve of 4,2.50,000 sheets." Very truly yours, ' . \ /' ~.·.f.---z-1 _/-/ ---;;;-·:) .:::.---;;....-\ J. R. v~~ Fossen, Assistant Chief, Division of B~ Operations. Enclosure TO ALL FEDERAL RESERVE l•GElJTS R~QA£1.1.U1A11.QN FEDERAL RESERVE NOTES AND ffiUFOHM BACKS ALLOCATED 'ID FEDERAL RESE...~VE HOTES, SHEETS OF 12 SubJECTS EACH AS AT THE CLOSE OF BUSINESS JUNE 30, 1940 Series of 1928 ~ 00 Federal Reserve Bfu~ Faces: Boston New York Philadelphia Cleveland Ric:b~!Jlond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco Total Faces -, $5 $10 68,660-2/3 28,0L!J-2/3 27,871 27,872 30,105-1/3 24,026 15,448-2/3 8,000 3,743 61,358-1/3 36,341-2/3 5,423 4,546 4,1:65 23,712-1/3 2,989-2/3 92,731-1/3 8,922 9,974 12,_306 8,12lt 5,851-1/J 30,66o 3,98.2-1/3 5,024-1/3 7,582-1/3 3,001 12,251 -----· 186,303 $500 1$1,000 [s5,ooo 1,535 300 399 30 170 200 698 474 245 152 60 200 293 345 100 252 224 402 $10,000 15 ?--4 50 24 34 79 71 lJ. 9 40 13 7 25 34 32 300 68 102 250 226 --~---··---- 1;3 Total 88,5:;5-·2/3 645 40,578-1/3 113 , L!Ol-l/.3 58,706-1/3 17,862-1/3 130,072 10,179-1/3 9,883-1/3 40,366 57,900 114,418-1/3 ------------·--·-----·- 142,674 ll0,099-2/3 Series of 1914 L,,l.eh3 2,562 262 260 682]548 8,714 52,940-1/3 1,150 1,359 8,794-2/3 1,055 12,270-1/3 2,400 1,/;74 300 778 2,083 93,31&.1/3 191 307 80 100 400 4oo 502 400 200 197 993 100 100 230 L:.Ol 400 230 100 300 200 300 3,551 46 182 /;.1 llO 25 99 90 90 90 25 51 46 90 49 195,/;00-1/3 571,11_1-1/3 203}316-2/3 149,550 111,859-2/3 97,742 365,300 107,187 71 :~.3?8 53,618 61,356-2/3 744,088-1/3 656,500 630,500 36~860 $100 11(343-l/3 46,277-J/3 158,495-l/3 48 ,;85 85,253 4_3,633-1/3 23)800 79,866-2/3 20,366-2/3 23,300 21,166-2/3 6,833-1/3 9,6oo 566,977-1/3 125,931-2/3 1.58,83.3-?/3 75,857-1/3 52,788 39,500 32,900 132,141 21,906-2/3 19,866-2/3 22,036-2/3 25,46fr2/3 T 6,663-2/3 1 1 208,052·-l/3 $50 1 76,711-1/3 34,638-2/3 Facesr Boston 12,841-l/J New York 14Lt,966-2/3 Philadelphia 76 ,6J.J-l/3 Cleveland 7' 966-·~/3 Richmond 7 ,766··2/3 Atlanta 31,675 Chicago 128,066-2/3 st. Louis 57,342-2/3 Minneapolis 269132-1/3 Kansas City s;;,Gfr-2/3 Dallas 27,166-2/3 San Francisco 35 ,J.GO Total Faces 564,024-2/3 Backs: Uniform.Backs allocated to the various denominntions of Federal Reserve notes 568,500 $20 R-694-n 1,161 54,285-1/3 1,111 1,933-1/3 11,_385 7,375 11,873-1/3 4,402 325 901 377 10)1:52-1/3 l05p81-l/3 106,000 120,500 L:oo 400 401 3,781 99 90 100 911 48 45 46 551 94~942-l/3 2,682/784 - - 2,082,000
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