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FEDERAL RESERVE BOARD WASHINGTON Ju:lu %, 1 9 2 6 , S t . 4971. ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD SUBJECT; Payment of D i v i d e n d s on J u n e 3 0 , 1926. Dear S i r : In submitting the usual semi-annual r e s o l u t i o n of y o u r b o a r d of d i r e c t o r s w i t h r e f e r e n c e t o the payment of t h e J u n e 30 d i v i d e n d , k i n d l y f u r n i s h t h e Board w i t h s t a t e m e n t s showing, a s of J u n e 1 , ( 1 ) t h e i n d e b t e d n e s s t o t h e F v d e r a l R e s e r v e b a n k of e a c h f a i l e d b a n k and t h e e s t i m a t e d l o s s w h i c h t h e F e d e r a l r e s e r v e bank w i l l p r o b a b l y s u s t a i n i n t h e c a s e of e a c h b a n k , and (2) t h e i n d e b t e d n e s s t o t h e F e d e r a l r e s e r v e b a n k of e a c h member bank t h a t i s considered t o be in an u n s a f e c o n d i t i o n and t h e e s t i m a t e d l o s s , i f a n y , w h i c h t h e r e s e r v e b a n k i s l i k e l y t o s u s t a i n i n t h e c a s e of e a c h s u c h b a n k . Very t r u l y y o u r s , w a i t e r L. Eddy, Secretary. LETTER TO ALL CKAIKMEU* 408
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