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5 FEDERAL RESER’ OF ATLANTA THIRTY-SECOND ANNUAL STATEMENT January 15,1947. To the Stockholders of the Federal Reserve Bank of Atlanta: There is presented herein a comparative statement of the condition of the Federal Reserve Bank of Atlanta as at close of business D e c e m b e r 31, 1946, and December 31, 1945, t o g e t h e r with a comparative statement of earnings and expenses for the years 1946 and 1945. Sincerely yours, W. S. McLARIN,~JR,, President. l COMPARATIVE STATEMENT OF CONDITI( December 31. 1945 December 31. 1946 ASSETS GOLDCERTIFICATES. . . . . . . . . . . . . . . . . . . FUND FOR FEDERAL RESERVE NOTES. . . . . . REDEMPTION TOTALGOLDCERTIFICATE RESERVES. . . . . . . . . OTHERCASH. . . . . . . . . . . . . . . . . . . . . DISCOUNTS AND ADVANCES . . . . . . . . . . . . . . . U S GOVERNMENT SECURITIES: BILLS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CERTIFICATES NOTES . . . . . . . . . . . . . . . . . . . . . . BONDS. . . . . . . . . . . . . . . . . . . . . . TOTAL U. S GOVERNMENT SECURITIES . . . . . . . . . . . . . . . . . . . . . . TOTALLOANSAND SECURITIES DUEFROM FOREIGN BANKS. . . . . . . . . . . . . . . FEDERAL RESERVE NOTESOF OTHER BANKS. . . . . . . . UNCOLLECTED ITEMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . BANKPREMISES OTHERASSETS . . . . . . . . . . . . . . . . . . . . $1,022,330,322.52 45,949,997.22 1,068,280,319.74 25,351,197.59 1,645,000.00 $1,024,326,255.43 46,253,620.00 1,070,579,875.43 20,753,099.74 5.737,000.00 634,373,000.00 420,812,000.00 106,637,000.00 47,637,000.00 1,209,459,000.00 1,211,104,000.00 3,867.29 12,544,925.00 150,104,488.51 1,568,379.72 3,698,850.64 702,577,000.00 381,352,000.00 18,075,000.00 38.328.000.00 . . . . . . . . . . . . . . . . 2,472,656,028.49 2.424.599.010.02 1,483,960,900.00 1,449,773,780.00 762,425,234.56 53,725,613.72 28,713,940.08 4,087,342.52 848,952,130.88 115,888,702.04 321,662.97 748,100,698.48 21,854,730.54 18,109,411.82 1,813,981.92 789,878,822.76 156,050,600.56 365,330.55 2,449,123,395.89 2,396,068,533.87 6,354,150.00 14,450,585.68 762,425.68 1,965,471.24 7,108,800.00 18,662,811.86 762,425.68 1,996,438.61 CAPITAL ACCOUNTS . . . . . . . $2,472,656,028.49 $2,424,599,010.02 . . . TOTAL ASSETS 3,884.67 14,290,465.00 168,735,594.89 1,525,831.24 2,641,259.05 LXABILITIES FEDERAL RESERVENOTES. . . . . . . DEPOSITS: MEMBERBANK-RESERVEACCOUNT . U S.TREASURER-GENERAL ACCOUNT. FOREIGN. . . . . . . . . . . . . OTHER. . . . . . . . . . . . . . TOTALDEPOSITS . . . . . . . . DEFERRED AVAILABILITY ITEMS. . . . . OTHERLIABILITIES. . . . . . . . . . TOTAL LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CM"AAL ACCOUNTS CAPITALPAIDIN . . . . . SURPLUS (SECTION7) . . . SURPLUS (SECTION 13b) . . OTHERCAPITALACCOUNTS. TOTAL LIABILITIES AND . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES EARNINGS. ..................... $ 7,281,297.90 $ 7,718,718.39 . . . . . . . . . 2,542,928.51 . . . . . . . . . . . . . . . . . $14,450,585.68 $18,662,811.86 . . OPERATING EXPENSES . . . . . . . . . . . . . . BOARDOF GOVERNORS. . . . . . . . ASSESSMENTFOR COSTOF FEDERAL RESERVE CURRENCY. . . . . . . . . TOTALNET EXPENSES. . . . . . . . . . . . . . CURRENTNET EARNINGS . . . . . . . . . . . . . ADDITIONSTO CURRENTNET EARNINGS: SECURITIES . . . . PROFITON SALESU. S. GOVERNMENT TRANSFERRED FROM RESERVES . . . . . . . . . . . . OTHERADDITIONS . . . . . . . . . . . . . . . . . TOTAL ADDITIONS. . . . . . . . . . . . . . . . DEDUCTIONS FROM CURRENT NET EARNINGS : RETIREMENT SYSTEM (SALARY COMPUTATION ADJUSTMENT) TRANSFERRED TO RESERVE FOR CONTINGENCIES. . . . . OTHERDEDUCTIONS. . . . . . . . . . . . . . . . TOTALDEDUCTIONS . . . . . . . . . . . . . . . NET EARNINGS . . . . . . . . . . . . . . . . . . . . DISTRIBUTION OF NET EARNINGS : DIVIDENDS PAID. . . . . . . . . . . . . . . . . . PAIDUNITED STATES TREASURY (SECTION 13b) . . . . . TRANSFERRED TO SURPLUS (SECTION 7) . . . . . . . . SURPLUS ACCOUNT (Section 7) SURPLUS JANUARY 1. . . . . . . . . . . . . . . . . . TRANSFERRED TO SURPLUS-ASABOVE . . . . . . . . . . TRANSFERRED FROM CONTINGENT RESERVE (PREVIOUSLY CHARGEDTO SURPLUS). SURPLUS DECEMBER 31 Directors and Officers Federal Reserve Bank of AL,,,,, For Year 1947 DIRECTORS FRANK H. NEELY,Cha'rman J. F. PORTER, Deputy Chairman Term Expzres . 1947 . 1948 . 1949 CLASS A J. WHITE,President, The First National Bank of Mount Dora, Mt. Dora, Florida . . . GEORGE R. C. WILLIAMS,President, The First National Bank of Atlanta, Atlanta, Georgia. . . . W.D. COOK,Chairman of the Board, First National Bank in Meridian, Meridian, Mississippi . .... .... .... CLASS B ERNESTT. GEORGE, President, Seaboard Refining Company, Ltd., New Orleahs, Louisiana J. A. MCCRARY, Vice President and Treasurer, J. B. McCrary Co., Inc., Decatur, Georgia . . . DONALD COMER,Chairman of the Board, Avondale Mills, Birmingham, Alabama . . . . . . . . . . . .... . . . ... . . . . . 1947 . 1948 . 1949 / CLASS C FRANK H. NEELY,Executive Vice President and Secretary, Rich's, Inc., Atlanta, Georgia . . . . . . . . 1947 J. F. PORTER, President, Tennessee Burley Tobacco Growers Association, and Farmer, Columbia, Tennessee . 1948 RUFUSC. HARRIS,President, The Tulane University of Louisiana, New Orleans, Louisiana . . . . . . . . 1949 OFFICERS W. S. MCLARIN, JR.,President L. M. CLARK,First Vice President H. F. CONNIFF,Vice President V. K. BOWMAN, Vice President J. R. MCCRAVEY, JR.,Assistant Vice President J. H. BOWDEN, Assistant Vice President S. P. SCHUESSLER, Vice President C. R. CAMP,Assistant Vice President J. E. DENMARK, General Auditor POLL.4RD TURMAN, General Counsel E. L. RAUBER, Director of Research MEMBER ON FEDE,RAL ADVISORY COUNCIL J. T. BROWN President Capital National Bank in Jackson Jackson, Mississippi INDUSTRIAL ADVISORY COMMITTEE JOHN E. SANFORD, Chairman Vice President Armour 8i Company Atlanta, Georgia LUTHER RANDALL President Randall Brothers, Inc. Atlanta, Georgia I. C. MILNER W. W. FRENCH GEORGE WINSHIP President Executive Vice President Chairman of the Board Fulton Supply Company Gate City Cotton Mills Moore-Handley Hardware Compan Atlanta, Georgia Atlanta, Georgia Birmingham, Alabama New Orleans Branch DIRECTORS DAVIDP. CAMERON, Chairman H. G. CHALKLEY, JR., President, Sweet Lake Land and Oil Company, Inc., Lake Charles, Louisiana JOHN J. SHAFFER, JR., Planter, Ellendale, Louisiana . Te? Exptres . . 1947 ......................... DAVEIP. CAMERON, President, The Merchants Company, Hattiesburg, Mississippi 1948 . . . . . . . . . . 1949 J. F. MCRAE,President, The Merchants National Bank of Mobile, Mobile, Alabama . . . . . . . . . 1947 . . . 1948 JOHN LEGIER,President, National American Bank of New Orleans, New Orleans, Louisiana . . . . . . . . 194(9 W. S. JOHNSON, Vice President, The First National Bank of McComb City, McComb, Mississippi . . . . 1949 T. G. NICHOLSON, President, The First National Bank of Jefferson Parish at Gretna, Gretna, Louisiana OFFICERS E. P. PARIS, Vice President and Manager M. L. SHAW,Cashier F. C. VASTERLING, Assistant Cashier W. H. SEWELL, Assistant Cashier L. Y. CHAPMAN, Assistant Cashier Birmingham Branch DIRECTORS WILLIAMHOWARD SMITH, Chairman Term Expires . . 1947 . . . . . . . . . . . . . . . . . . . .1948 Tuskaloosa, Tuscaloosa, Alabama . . . . . . . 1947 JOHNC. CURRY,Administrative Assistant to Algernon Blair, Contractor, Montgomery, Alabama WILLIAMHOWARD SMITH, Planter and Cattle Raiser, Prattville, Alabama GORDON D. PALMER, President, The First National Bank of . . . . . . . .1948 Birmingham, Birmingham, Alabama . 1949 M. B. SPRAGINS, President, The First National Bank of Huntsville, Huntsville, Alabama G. HALL,Executive Vice President, The First National Bank of R. L. ADAMS,President, Bank of York, York, Alabama . . . . . . . . . . . . . . . . . . . . . . . JAMES OFFICERS P. L. T. BEAVERS,Vice Ptesident and Manager H. C. FRAZER, Assistant Manager H. J. URQUHART, Cashier L. W. STARR,Assistant Cashier 1949 Jacksonville Branch ' DIRECTORS WALTER J. MATHERLY, Cha'nnm WALTERJ. MATHERLY, Dean, College of Business Administration, Universi CHARLESS. LEE, Planter, Oviedo, Florida. ............. J. L. DART,President, The Florida National Bank of Jacksonville, Jack J. S. FAIRCHILD, Cashier, The First National Bank of Winter Garden, Wint MAXLOSNER,President, The First National Bank of Homestead, Homest H. S. MOODY,Executive Vice President, Manatee River Bank and Trust ( OFFICERS. T. A. LANFORD, Vice President and Manager T. C. CLARK, Cashier J. WYLYSNYDER, Assistant Cashier Nashville Branch DIRECTORS. W. BRATTEN EVANS,Chairman ......... .......................... CLYDEB. AUSTIN,President, The Austin Company, Inc., Greeneville, Tennessee. H. C. MEACHAM, Farming, Franklin, Tennessee. W. BRATTENEVANS,President, Tennessee Enamel Manufacturing Company, Nashville, Tennessee B. L. SADLER,President, First National Bank in Harriman, Harriman, Tennessee . . . . . . . . . . . . . .1948 . . . . . . . . . . . .194@ Tennessee . LESLIER.DRIVER,President, The First National Bank in Bristol, Bristol, Tennessee OFFICERS JOEL B. FORT,JR., Vice President and Manager E. R. HARRISON, Cashier ... 1948 . 1949 . . . . . . . . . . . . 1947 EDWARD POTTER, JR., President, Commerce Union Bank, Nashville, Tennessee W. G. BIRDWELL, Cashier, Citizens Bank and Trust Company, Carthage, Term Expires . . 1947 W. E. PIKE,Assi ,
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