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if 493 FEDERAL RESERVE BOARD WASHINGTON address official correspondence t o the federal reserve board SUBJECT: July 16, 1934. B-998 Monthly reports of earnings, expenses and l o s s e s on i n d u s t r i a l advances. Dear S i r With reference to the Board's l e t t e r of t h i s date i n regard to the method of determining net earnings on funds paid to your bank by the Secretary of the Treasury under Section 13b of the Federal Reserve Act and the annual statement on form B-20 to be submitted i n connection therewith, you are a l s o requested to submit monthly to the Federal Reserve Board reports on forms B-18 and B-19, a supply of which i s i n c l o s e d . I t w i l l be noted that forms B-18 and B-19, which cover income, expenses, and l o s s e s , c a l l f o r separate f i g u r e s i n regard to net earnings on loans, d i s counts, advances and purchases from funds received from the Secretary of the Treasury under Section 13b and from the bank's own funds i n v e s t e d under that Section and that outside expenses chargeable to a s p e c i f i c loan, discount, advance or purchase are to be shown separat@3y.frxa other expenses. Reports on forms B-18 and B-19 should be submitted promptly a f t e r the end of each month and should include expenses incurred a t the branches, i f any, as well as at the head o f f i c e . Very truly yours Chester Morrill Secretary. Inclosures. TO AIL GOVERNORS*
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