Full text of Mimeograph Letters and Statements of the Board : Letter From Secretary Morrill re Statistical Data Requested on Loans Made by Member Banks, Number B-1012, Volume 41, Page 527

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• 527
FEDERAL RESERVE BOARD
WASHINGTON
ADDRESS OFFICIAL CORRESPONDENCE T O
T H E FEDERAL RESERVE BOARD

September 1, 193^
B-1012

Dear Sir:
In order that the Board may be kept currently informed as to
the a c t i v i t i e s of your bank with regard to applications r o r indust r i a l advances or for commitments to make industrial advances, i t
will be appreciated i f you will submit to the Board reports as of
close of business each Wednesday on Forms B-22 and B-22a, a supply
of which i s inclosed.
In addition to the information required to be shorn on BD-4
schedules covering industrial advances and commitments, outlined
in the So&rd's lettersB-l003 and B-1004 of J u l y 25, please show in
the case of each advance and each commitment the character of
business of the borrower and the gross business receipts of the
borrower during each of the past f i v e years.

Please also furnish

the Board with corresponding data covering loans and commitments
for which schedules have already been sent to the Board.
It w i l l also be appreciated if you will furnish the Board a
statement showing the following information as of close of business
Wednesday, September 5, for each advance (as distinguished from
commitment) which has been approved by your bank but under which no




£ 538
2

disbursements have been made:

-

( l ) Name and location of borrower,

(2) character of business, (3) amount to be advanced by Federal Reserve tank, (4) whether the advance i s to be made direct or through a
financing institution, (5) gross business receipts during each of past
f i v e years,

It i s further requested thet yon submit a report as of

each Wednesday thereafter showing similar information for each advance
approved during the week but on which no disbursements have been made.
In order that the Board may be more f u l l y advised as to the
effect which the a c t i v i t i e s of the Federal Reserve banks under Section
13b are having on the general credit situation, i t will be appreciated
i f you will write the Board a l e t t e r as of each Wednesday night giving
such details as are available regarding each industrial loan or commitment made by financing institutions that would probably not hpve
been made had the Reserve banks no authority to make industrial loans.
Kindly also include in this l e t t e r such additional information as you
have been in the habit of sending the Board on Saturdays in response
to the Board's telegram Trans 2044 of July 21.
The Board would appreciate receiving the reports and information
called for above on the Monday morning following the Wednesday report
date.
Very truly yours,

ho
Chester Morrill,
Secretary.

Inclosures

TO ALL


F. B. AGENTS*