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FEDERAL
RESERVE
OF ATLANTA

THIRTY-NINTH ANNUAL ST

To the Stockholders o f a e
Federal Reserve Bank of Atlantc
There is presented herein a comparati
the condition of the Federal Reserve iI.-.I
as at close of business December 31, 1953, and

December 31, 1952, together with a comparative
statement of earnings and expenses for the years
1953 and 1952.

h0t

Sincerely yours,

MALCOLM
BRYAN,

act,

33 2 . / / I

R-15: /
’

President

COMF'ARATIVE STATEMENT OF CONDITION

ir

December 31,1953
$ 912,262,741.45
58,813,252.65
$ 971,075,994.10
32,527,490.32
$1,003,603,484.42
995,000.00
339,605.12

ASSETS

December 31,1952
$ 881,901,041.46
54,349,628.01
$ 936,250,669.47
27,228,694.79
$ 963,479,364.26
2,583,500.00
232,489.65

GOLD
CERTIFICATES . . . . . . . . . . . . . . . . .
.
REDEMPTION FOR FEDERAL
FUND
RESERVE
NOTES. . . . . .
TOTAL
GOLDCERTIFICATE
RESERVES . . . . . . . .
.
OTHERCASH. . . . . . . . . . . . . . . . . . . . .
TOTALCASH . . . . . . . . . . . . . . . . . .
.
DISCOUNTS ADVANCES. . . . . . . . . . . . . . .
AND
INDUSTRIAL
LOANS . . . . . . . . . . . . . . . . . .
U. S. GOVERNMENT
SECURITIES:
SYSTEM
ACCOUNT . . . . . . . . . . . . . . . . 1,294,974,000.00 1,391,024,000.00
TOTAL
LOANS SECURITIES . . . . . . . . . . $1,296,308,605.12 $1,393,839,989.65
AND
..
29,747,750.00
33,771,000.00
FEDERAL
RESERVE
NOTESOF OTHERBANKS. . . . . . . .
324,677,651.89
279,347,803.30
UNCOLLECTED ITEMS . . . . . . . . . . . . . .
CASH
.
3,635,721.41
3,666,546.37
BANK
PREMISES . . . . . . . . . . . . . . . . .
(NET)
8,677,124.59
9,959,976.02
OTHERASSETS . . . . . . . . . . . . . . . . . . . .
TOTAL ASSETS . . . . . . . . . . . . . . . . $2,666,650,337.43 $2,684,064,679.60

J

I

1"

b

I

- 1

I

~

LUBILJTIES
FEDERAL
RESERVE
NOTESIN ACTUAL
CIRCULATION . . . . $1,417,107,185.00 $1,445,055,875.00
.
DEPOSITS:
890,375,572.57
895,537,884.04
BANK RESERVE
ACCOUNTS . . . . . . . . .
.
MEMBER
19,314,091.60
34,240,558.11
U. S. TREASURER-GENERAL
ACCOUNT . . . . . . .
.
17,595,600.00
22,510,500.00
FOREIGN. . . . . . . . . . . . . . . . . . . .
OTHERDEPOSITS. . . . . . . . . . . . . . . . .
5,679,101.19
5,587,233.86
TOTAL
DEPOSITS . . . . . . . . . . . . . . . . $ 932,964,365.36 $ 957,876,176.01
269,537,240.88
237,236,699.80
DEFERRED
AVAILABILITY ITEMS . . . . . . . . . .
CASH
.
713,4,48.76
591,562.66
OTHERLIABILITIES . . . . . . . . . . . . . . . . . .
TOTAL LIABILITIES . . . . . . . . . . . . . . $2,620,322,240.00 $2,640,760,313.47

CAPITAL ACCOUNTS

v

I/

CAPITAL P I I N . . . . . . . . . . . . . .
AD
SURPLUS
(SECTION . . . . . . . . . . . .
7)
SURPLUS(SECTION
13b) . . . . . . . . . . .
RESERVES CONTINGENCIES . . . . . . . .
FOR
.
TOTALCAPITALACCOUNTS . . . . . . .
.
TOTALLIABILITIESAND CAPITALACCOUNTS
.




.....

.....
.....
.....
.....

.....

11,158,250.00 $ 10,407,600.00
28,034,120.17
25,803,328.13
762,425.68
762,425.68
6,373,301.58
6,331,012.32
$ 46,328,097.43 $ 43,304,366.13
$2,666,650,337.43 $2,684,064,679.60

$

/I

1

COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES
CURRENT
EARNINGS:
DISCOUNTS ADVANCES
AND

.............
INDUSTRIAL AND COMMITMENTS . . . . . . .
LOANS
.
U. S. GOVERNMENTU I I SS S E
S C RTE - Y T M
E
ACCOUNT . .
.
ALL OTHER .

...........
CURRENT
EXPENSES . . . . . . . . . . . . . . . . . .
CURRENT EARNINGS. . . . . . . . . . . . .
NET
ADDITIONTO CURRENT EARNINGS . . . . . . . . . .
NET
.
DEDUCTIONS
FROM CURRENT
NET EARNINGS
.

OTHER
DEDUCTIONS:
TRANSFERREDTORESERVEFORCONTINGENCIES.
....
PAID U. S. TREASURY
TO
(INTEREST
ON OUTSTANDING
FEDERAL
RESERVE
NOTES) . . . . . . . . . . . .

29,348,440.25

25,599,774.20

9,434.56

8,301.14

$30,120,257.72

$26,125,771.75

7,135,307.77

6,362,384.93

$22,984,949.95

$19,763,386.82

113,574.61

204,648.83

95,153.92

536.49

\

$23,003,370.64

$19,967,499.16

\

$

42,051.68

$

42,953.49

20,074,823.82

17,385,550.11

$20,116,875.50

$17,428,503.60

2,230,792.04

1,931,931.43

$ 2,886,495.14

TOTAL .

II

22,479.10

.......

...................

$

1952
495,217.31

15,681.16

..................

TOTAL
CURRENT
EARNINGS.

TOTAL .

$

1953
746,701.75

$ 2,538,995.56

.......

$25,803,328.13

$23,871,396.70

.......

-

...................

TRANSFERRED SURPLUS
TO
(SECTION
7)

........

SURPLUS
(SECTION :
7)
SURPLUS
JANUARY 1 . . . . . . . . .
TRANSFERRED
TO SURPLUS-AS
ABOVE .

SURPLUS
DECEMBER .
31




..............

1

2,230,792.04

1,931,931.43

$28,034,120.17

$25,803,328.13

Directors and Officers
Federal Reserve Bank of Atlanta
For the Year 1954
DIRECTORS
RUFUS HARRIS,
C.
Chairman
PAUL REINHOLD,
E.
Deputy Chairman
CLASS A
Elected by and Representative of Member Banks

Term
Expires

. 1954
. . . . . . . . . . . . 1955
. . . . . . . . . . . . . . . . . . . . . . 1956

W. C. BOWMAN,
Chairman of the Board, The First National Bank of Montgomery, Montgomery, Alabama.
LESLIER. DRIVER,
President, The First National Bank in Bristol, Bristol, Tennessee
ROLAND ADAMS,
L.
President, Bank of York, York, Alabama

CLASS B
Elected by Member Banks and Representative of Nonbanking Interests

. . . . . . 1954
. . . . . . . . . . 1955
. . . 1956

POLLARD
TURMAN,
President, J. M. Tu11 Metal & Supply Company, Inc., Atlanta, Georgia. .
.
DONALD
COMER,
Chairman of the Board, Avondale Mills, Birmingham, Alabama
.
..
A. B. FREEMAN,
Chairman of the Board, Louisiana CocaCola Bottling Co., Ltd., New Orleans, Louisiana

CLASS c
Appointed by the Board of Governors of the Federal Reserve System
PAUL REINHOLD,
E.
Chairman of the Board, Foremost Dairies, Inc., Jacksonville, Florida.
RUFUS HARRIS,
C.
President, The Tulane University of Louisiana, New Orleans, Louisiana
HARLLEE
BRANCH, President, Georgia Power Company, Atlanta, Georgia
JR.,
. ..

.. .

. . . . . . . . .1954
. . . . . . . . . 1955
. . . . . . . . . 1956

OFFICERS
MALCOLM
BRYAN,
President; LEWISM. CLARK,
First Vice President; V. K. BOWMAN, Presiden.t; J. E. DENVice
Vice President; JOHN L. LILES,JR., Vice President and Cashier; HAROLD PATTERSON, President and
T.
Vice
General Counsel; L. B. RAISTY,
Vice President; E. L. RAUBER,
Vice President and Director of Research; S. P.
SCHUESSLER, President; R. DEWITTADAMS,
Vice
General Auditor; C. R. CAMP,Assistant Vice President; F. H.
Assistant Vice President; I. H. MARTIN,
Assistant Vice President; J. E. MCCORVEY,s s i s t m Vice PresiA
MARTIN,
dent; ROYE. MILLING,
Assistant Vice President; R. M. STEPHENSON,
Assistant Vice President; CHARLES TAYT.
LOR, Assistant Vice President; F. I. BRECK,
Assistant Cashier; DOWDELL
BROWN, Assistant Counsel.
JR.,
MARK,

MEMBER OF FEDERAL ADVISORY COUNCIL
WALLACE DAVIS
M.
President
The Hibernia National Bank in New Orleans
New Orleans, Louisiana

INDUSTRIAL,ADVISORY COMMITTEE
SHANNONGAMBLE
M.
I. C. MILNER
Executive Vice President
President
Standard-Coosa-Thatcher Company
Gate City M l s Company
il
East Point, Georgia
Chattanooga, Tennessee
JOHN E. SANFORD
GEORGE
WINSHIP
LUTWER RANDALL
H.
President
President
President
Armour Fertilizer Works
Fulton Supply Company
Randall Brothers, Inc.
Atlanta, Georgia
Atlanta, Georgia
Atlanta, Georgia




Birmingham Branch
DIRECTORS
EDWINC. BOTTCHER,
Chairman

Term
Expires

Appointed by the Board of Directors, Federal Reserve Bank of Atlanta

. . . .1954
. . . . . . . . . . . . 1955
. . . . . .1955
. . . . . . . . . 1956

MALCOLM SMITH,
A.
First Vice President, Birmingham Trust National Bank, Birmingham, Alabama
JOHN B. BARNETT, President, The Monroe County Bank, Monroeville, Alabama
JR.,
FRANK MOODY, President, The First National Bank of Tuskaloosa, Tuscaloosa, Alabama
M.
Vice
JOHN W ~ GAY,President, The First National Bank of Scottsboro, Scottsboro, Alabama
L
Appointed by the Board of Governors of the Federal Reserve System

. . . . . . . . . . . . . . . . .1954
. . . . . . . . . . . . . . . . . . . . . . . . . .1955
. . . . . . . . . . . . 1956

,
,
EDWINC. BOTTCKER,
Cotton and Dairy Farmer, Cullman, Alabama
THAD
HOLT,
Investments, Birmingham, Alabama
,
ADOLPH
WEIL, SR., President, Weil Brothers-Cotton, Inc., Montgomery, Alabama

OFFICERS
H. C. FRAZER, President and Manager; E. C. RAINEY,
Vice
Assistant Manager; H. J. URQUHART,
Cashier; MELVIN
Assistant Cashier.
MCILWAIN,

Jacksonville Branch
DIRECTORS
HARRY SMITH,
M.
Chairman

Term
Expires

Appointed by the Board of Directors, Federal Reserve Bank of AtIanta

. . . . .1954
. . . . . . .1955
. . . . . . . . .1955
. . . . . . . . . . . . . . .1956

G. W. REESE,President, The Citizens and Peoples National Bank of Pensacola, Pensacola, Florida
FRANK NORRIS,
W.
President, The Barnett National Bank of Jacksonville, Jacksonville, Florida
J. CARLISLE
ROGERS,
President, The First National Bank of Leesburg, Leesburg, Florida
T. A. DAVIS,JR., President, Pan American Bank of Miami, Miami, Florida.
Appointed by the Board of Governors of the Federal Reserve System
J. WAYNE
REITZ, Provost, College of Agriculture, University of Florida, Gainesville, Florida.

. . . . . . .1954

.1955
. . . . . . .1956

HARRY SMITE,
M.
President and Manager, Winter Garden Ornamental Nursery, Inc., Winter Garden, Florida
MCGREGOR
SBUTH,President and Director, Florida Power and Light Company, Miami,Florida

OFFICERS
T. A. LANFORD, President and Manager; T. C.CLARK,
Vice
Assistant Manager; J. W




C. MASON
FORD,
Assistant Cashier.

n Y

SNYDER,
Ccrshier;

Nashville Branch
DIRECTORS

H. C. MEACHAM,
Clrairman

TWln
Expires

Appointed by the Board of Directors, Federal Reserve Bank of Atlanta

. . . . . . . . . . .1954
. . . . . . . .1955
T. R. KEYS,President, Erwin National Bank, Erwin, Tennessee . . . . . . . . . . . . . . . . . . . . .
1955
SAMM. FLEMING,
President, Third National Bank in Nashville, Nashville, Tennessee
JAMES SPROUSE,
V.
President, The First National Bank of Springfield, Springfield, Tennessee

W. E. TOMLINSON,
President, The Hamilton National Bank of Johnson City, Johnson City, Tennessee

. . . . 1956

Appointed by the Board of Governors of the Federal Reserve System

. . . . . . . . . . . . . . . . . . . . 1954
. . . . . . . . . . . .1955
. . 1956

H. C. MEACHAM,
Agriculture and Livestock, Franklin, Tennessee
ERNEST MOENCH,
J.
President, Tennessee Tufting Company, Nashville, Tennessee
FRANK WARD,
B.
Dean, College of Business Administration, University of Tennessee, Knoxville, Tennessee
OFFICERS

R. E. MOODY, Vice President and Manager; E. R. HARRISON,
JR.,
Assistant Manager; LEO W. STARR,Cashier;
STUART MAGEE,
H.
Assistant Cashier.

New Orleans Branch
DIRECTORS
E. 0. BATSON,
Chainnun
Appointed by the Board of Directors, Federal Reserve Bank of Atlanta

Term
Expires

. . . . . . . . . . . 1954
. . . . . . 1955
. . . . . . . . . . . . . .1955
. . . . . .1956

G. M. MCWILLIAMS,
President, Citizens Bank of Hattiesburg, Hattiesburg, Mississippi
KEEHNW. BERRY,
President, Whitney National Bank of New Orleans, New Orleans, Louisiana
J. T. BROWN,
President, First National Bank of Jackson, Jackson, Mississippi
LEON MINVIELLE,
J.
President, The Peoples National Bank of New Iberia, New Iberia, Louisiana
Appointed by the Board of Governors of the Federal Reserve System

. . . . . . . . .1954
. . . . . . . . . . . . .1955
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1956

JOEL FLETCHER,
L.
JR., President, Southwestern Louisiana Institute, Lafayette, Louisiana
E. 0. BATSON,
President, Batson-McGehee Company, Inc., Millard, Mississippi
E. E. WILD, Planter, Midland, Louisiana
Rice
OFlFlCERS

M. L. SHAW,
Vice President and Manager; W. H. SEWELL,
Assistant Manuger; L. Y CHAPMAN,
.
Cashier;
JUNCA, Assistant Cashier.
RENE





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102