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W. P. G. HARDING. GOVERNOR PAUL M. WARBURG, VICE GoVERNOR EX·OFFICIO MEMBERS FREDERIC A. DELANO ADOLPH C. MILLER CHARLES s. HAMLiri!:. WILLIAM G. McADOO SECRETARY OF THE TREASURY CHAIRMAN JOHN SKELTON WILLIA.MS COMPTROLLER OF THE CURRENCY 1092:.,_ ; ) .:!. H. PARKER WILLIS, SECRETARY SHERMAN P. ALLEN, ASST, SECRETARY AND FISCAL AGENT FEDERAL RESERVE BOARD WASHINGTON ADDRESS RltPL.Y TO FEDERAL RESERVE 130ARD July 26, 1918 • • Dear Sir: • During the past few months the Federal Reserve Bulletin has frequently been delayed in publication as much as a week or ten days beyond the first of the month, the day on which it should appear. The difficulty is largely due to conditions in the Government Printing Office, past has been very much pressed with work. A which for more than a year part of the trouble, however, is due to the fact that the reports of business conditions transmitted by the several Federal Reserve Agents have not been on time. In many cases they are • not mailed until after the 23d of the month, although the 23d is the date that they are due in washington. In the effort to bring the publication of the Bulletin back to the normal time of publication, i t is now requested that the reports be made to cover conditions up to about the 15th of each month, and that they be mailed so as to reach \Jashington not later than the 20th of each month. There are disadvantages in this program; but on the less inconvenience than any other. v~1ole it seems to involve Those Reserve Banks which are nearest to 'ilashington may, of course, defer the transmission of the monthly report longer than others; but their reports should reach washington on the 20th in the ordinary course of the mails. Within recent months the business reports have tended to depart from the ~ore have. or less uniform character and length, which it had been desired they should You are therefore reminded that it is d6sired that the reperts should mot exceed 1,000 words in length, unless there should be some matter of special interest calling for treatment. X-1092 -2- General discussion of poli~~cal and public ~uestions should be omitted and the reports should deal directly and exclusively with local business conditions in the District. It is suggested that under ordinary circumstances the best type of report would be as follows: 1. Introductory paragraph stating general impressions or summary as to the situation. 2. Outline of banking ctnd financia.l situation, including changes in rates of interest. In this connection you are requested to include in your monthly re?ort data relating to interest rates which were asked for in the Board's form letter 1068 of July 17th, instead of telegraphing these items separately. 3. More extended treatment of chief activities of the District, as e. g., agriculture in Ninth District; cotton situation in Sixth District; manufacturing situation in Third District, etc. 4. Detailed comment on various important business activities such as retailing, conditions of employment, etc. 5. Other matter considered of importance. It is further requested that statistical reports be transmitted much more promptly than has been the custom of late. Some Federal Reserve Banks are almost invariably behind in sending their monthly statements. It frequently happens that after telegraphing to them one or more times the re?Orts are received but are found to be incorrect. 1~is necessitates further correspondence and incidentally causes still more delay in issuing the Bulletin. Yours very truly, Secretary. ie(erJ.l Heserve Ageut, i'eclerc:l Heserve Bank,
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