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FEDERAL RESERVE BOARD
WASHINGTON
address official correspondence t o
t h e federal reserve board

August 23, 1932.
B-S13'.

SUBJECT:

Functional Expenses,
First Half, 1932.

Dear Sir:
There are enclosed herewith
copies of the consolidated Functional Expense
Exhibit for the half year ending June 30, 1932,
A copy of the exhibit is also being mailed to the
Governor of the bank.

Very truly yours,

J. R. Van Fossen, Assistant Chief,
Division of Bank Operations.

Enclosure.

LETTER TO CHAIR!'JU*T OF EACH FEDERAL RESERVE B A M *