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284 / X-4475 STAT:Elrv::ENT FOR THE PR:;!';SS . For I~~ediate Release The Board today appointed George as a Class 11 Federal Reserve :So2rd .December 19, 1925. DeCamp, of Pittsburgh, 0 11 Director of the Federal Reserve Bank of Cleveland for the unexpired term of D. C. Wills, deceased, and designated Mr. DeC~ Federal Ros8rve Agent and Chairman of the Board of Directors of t:1c Cleveland :Bank for the year 1926 • ._.. ,.... Since 1918 Mr. DeCamp has been Manager of the Pittsburgh Branch of the Federal Reserve Bank of Cleveland. 285 FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD December 21, 1525. SUBJECT: .A.SSESSMElfr FOR GE.I\f'Ji;RAL EXPENSES OF THE FEDEEAL RES;'RV:tG EOAHD, JMfUARY 1 TO J~E 30, 1926. Dear Sir: Confirming tel~fgraphic advice there is enclosed herewith copy of a resolution adopted. by the Federal ResGrve Board levying an assesBment upon the sovzral FGderal reserve banks of an ar.nount cqu::t.l to one,}lundrod two thous.:mdths of one per cent (.00102) of the tot~l paid in capital stock and surplus of such banks to defray th.J estimated gonGrd.l expensos of the Bo:J.rd from J~uary l to June 30, 1926. Kindly daposi t one-half of the c>..rnount of your o.ssessInl:mt in the G:mera.l Account, Treasurer, U. S., on your books J ..nud.ry l, 1926, and ona-half M:...,rch 1, 1926, in each instance issuing a C jl) for credit of 11 83-L.,ries and Ex.:ponses, F3der;;1l Re~;c;rve Board, Speci:J.l Fund", ::ii.Ssessment for gun8ra.l expenses, and sending duplicc1ta C/D to the Fed.:;r.s.l Rcs.Jrve J30,Md, Also please furnish ~ statem0nt of your c~pitcl1 and surplus used as a b~sis for the assessment. Very truly yours; Enclosul·e. (Sent to Chairman of ec1ch Fedor:..l RGS·3rve J3J.J.J..k). , 286 X-l.!476-b RESOLUTION LEVYING ASSESS1mNT ~ereas, und~r Section 10 of tho ~ct ~pprovod December 23; 1913) and known ~s the FedGr~l Resarvc Act, the Fodor.:-.1 ReaGrva Bol:l.rd is empowered. to lsvy semia.nnu;J.lly upon the FedGr""1 resorve banks in :proportion to thair c.l:pit.J.1 stock <md surplus an <J.ssessment sufficient to p:;;,y its ostilil.J.ted ox:pensos, incluling the sa.la.rias of its memburs, assist,.iJlts, attorneys, expurts ai"J.d employees for tho ha.lf-yea.r succ.).~d.ing thJ l-:Jvying of such c:.~.ssessmont, togathar with any ~eficit carried forw~rd from the prec.Jdine; h .... lf-ye:ill' i ~d Viherea.s, it a.:p1~01J.rs from estimates submitted a.nd. considered th,:~.t it is il.3C3ss~ry t~t :.~. fund. equ(J,l to one hund.rod two thous.:;llld.ths of one :pr cent of the tot;i:i.l lJ.:lid.in capital stock Jl'l\1. sur:plus of the F13ior.:.~.l res•;;rv.J banks be cra;itod for th;; J..lur:poso hoNinbafore described, exclusive of the cost of 0n~,r J.Ving <And printing of Foder.:ll reserve ' notes; Now, thcreforo, Be it rosolved, That pursuant to the authority vested in it by law, the Fod.Qr~l Rosarvc Board hereby levies .m a.ssesament U}On the saver ..l.l Federal reserve b.gnks of cim amount eq,~l to one hundred two thousmdtha of one per cent of the totul p;.~oi.;l-in Ci!.~i t,.• l ,;.ni surr~lus of such b..mka s.s of Dl;)cember 31, 1925, ·cilld thJ Fiscal Agemt of the Bo~rd is hereby authorized to collect from said b~ such .J.sse ssment and. execute, in the name of the ]o.l.rd., recai}:)ts for ~~ents ma.ia. Such aasessmonts will be collectod in two instal1ments of on~-~1! each; the first installment to be lJ·...id on J-:.1nu-J.ry l, 1926, :md the s~cund ha.lf on Ma.rch l, 1926 • .
@FedFRASER