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x-3035 FEDERAL RESERVE B '0 A R D. STATEMENT FOR THE PRESS. For r e l e a s e i n morning p a p e r s Saturday, January 29, 1921. On F r i d a y , January 28, 1$21, t h e Federal Reserve Board approved t h e a r t i c l e s of a s s o c i a t i o n and o r g a n i z a t i o n c e r t i f i c a t e of t h e F o r e i g n Trade Financing C o r p o r a t i o n , a c o r p o r a t i o n organized under t h e p r o v i s i o n s of S e c t i o n 2 5 ( a ) of t h e Federal Reserve Act, commonly known a s t h e "Edge A c t . " The c a p i t a l of t h i s c o r p o r a t i o n i s $100,000,000 and i t s home o f f i c e i s i n New York City, New York. I t i s i n c o r p o r a t e d f o r t h e purpose of e n - gaging i n t h e b u s i n e s s of i n t e r n a t i o n a l or f o r e i g n banking or o t h e r i n t e r n a t i o n a l or f o r e i g n f i n a n c i a l o p e r a t i o n s . Pending t h e i s s u e of a f i n a l p e r m i t t o commence b u s i n e s s t h e c o r p o r a t i o n has a u t h o r i t y t o e x e r c i s e only t h o s e powers which a r e i n c i d e n t a l and p r e l i m i n a r y t o i t s o r g a n i z a t i o n . Washington, D. C., January 28, 1921. 159 FEDERAL RESERVE BOARD x-3037 WASHINGTON F e b r u a r y 2 , 1921. SUBJECT: Expense of Gold Shipments. Dear S i r : R e f e r r i n g t o mimeograph l e t t e r X-1861 of March 17, 1920, i n r e g a r d t o e x p r e s s and i n s u r a n c e b i l l s c o v e r i n g shipments of g o l d c o i n , I beg t o a d v i s e t h a t t h e Board i s now i n r e c e i p t of b i l l s c o v e r i n g f u r t h e r shipments a g g r e g a t i n g $40,850 on account of e x p r e s s a g e and $4,200 on account of i n s u r a n c e , a t o t a l of $45,050, as follows Date 1920 Amount 9-21 $ 5,000,000 10-18&19 10,000,000 10-25&26 10,000,000 11-19&20 10,000,000 From Chicago Chicago S t . Louis Cincinnati To San San San San Express Insurance F r a n c i s c o $ 5,625 F r a n c i s c o 11,250 F r a n c i s c o 11,250 F r a n c i s c o 12.725 $40,650 $ 600 1,200 1,200 1,200 $4,200 Based upon p a i d - i n c a p i t a l and s u r p l u s a s of J a n u a r y 1# 1921, t h e amount c h a r g e a b l e t o each F e d e r a l Reserve Bank i s a s follows Boston . . . Hew York . . Philadelphia Cleveland. . Richmond . . Atlanta. . . $ 3,496.61 12,355.44 3,804.92 4,627.71 2,362.63 1,850.11 Chicago. . . S t . Louis. , Minneapolis. Kansas C i t y . Dallas . . . San Franc i e c o 6,401.44 1,896.95 1,558.23 2,031.77 1,512.03 3,152.16 p l e a s e d e p o s i t t h e amount c h a r g e a b l e t o your batik i n t h e General A c c o u n t , T r e a s u r e r , U. S«, on your books, and i s s u e C/!D on form 1 , n a t i o n a l Batik, f o r c r e d i t of " S a l a r i e s and Exp e n s e s , F e d e r a l Reserve Board, S p e c i a l Fund", Expense of Gold Shipments, s e n d i n g d u p l i c a t e C/D t o t h e F e d e r a l Reserve Board. By d i r e c t i o n of t h e F e d e r a l Reserve Board. Very t r u l y y o u r s , F i s c a l Agent. S e n t t o Chairmen of a l l F. R. Banks*
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