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FEDERAL RESERVE BANK
OF ST. LOUIS

REPORT TO STOCKHOLDERS
FOR THE YEAR ENDED DECEMBER 3 1 , 1936







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TWENTY-SECOND ANNUAL STATEMENT

March 10, 1937.
T o the Stockholders
of the
Federal Reserve Bank of St. JLouis:
There are furnished herein the following statements of the Federal
Reserve Bank of St. Louis, including its Louisville, Memphis, and Little
Rock Branches:
( 1 ) Assets and liabilities as of December 31, 1936;
( 2 ) Earnings, expenses, and profit and loss account
for the year 1936;
( 3 ) Volume of major operations during 1936;
membership and personnel at end of the year;
\

( 4 ) Directors, officers, Federal Advisory Council
member, and Industrial Advisory Committee.

Statistics pertaining to this bank and the member banks w^ill also be
found in the annual report of the Board of Governors of the Federal
Reserve System, "Washington, D . C




Yours very truly,
^WILLIAM McC. M A R T I N ,
PresidenU

3 —

S T A T E M E N T OF C O N D I T I O N DECEMBER 31, 1936
ASSETS
Gold certificates on hand and due from U . S. Treasury
Redemption fund—Federal Reserve notes
Other cash
Total reserves

^255,381,011
1,570,018
16,465,076
,

Bills discounted:
Secured by U . S. Govt, obligations direct and/or fully guaranteed
Other bills discounted
Total bills discounted

273,416,105
600
39,000
39,600

Bills bought in open market
Industrial advances

86,481
424,366

U . S. Government securities:
Bonds
Treasury notes
Treasury bills

23,381,000
63,901,000
28,527,000

Total U , S. Government securities

115,809,000

Total bills and securities

- 116,359,447

Due from foreign banks
Federal Reserve notes of other banks
Uncollected items
Bank premises
All other assets

3,739
2,036,300
33,948,179
2,389,662
184,441

TOTAL ASSETS

428,337,873
LIABILITIES

Federal Reserve notes in actual circulation

183,579,540

Deposits:
Member bank—reserve account
United States Treasurer — general account
Foreign bank
Other deposits

182,277,242
6,952,331
2,970,479
8,696,232

Total deposits

200,896,284

Deferred availability items
Capital paid in
Surplus Section 7
Surplus Section 13b
Reserve for contingencies
All other liabilities

_

T O T A L LIABILITIES

428,337,873

Ratio of total reserves to deposit and Federal Reserve
note liabilities combined Cp^r cent)
Commitments to make industrial advances




33,557,657
3,781,800
4,654,737
545,151
1,194,074
128,630

4

71.1
1,061,286

E A R N I N G S A N D EXPENSES FOR T H E Y E A R 1936
CURRENT

EARNINGS

D i s c o u n t e d bills
Purchased bills
XJ. S. G o v e r n m e n t securities..
Industrial advances
C o m m i t m e n t s to make industrial advances
A l l other

,

0

T o t a l current earnings

1,863,217
CURRENT

EXPENSES

Total operating expenses
Less reimbursements for certain fiscal a g e n c y and other expenses

1,726,908
417,436

N e t operating expenses

.•.

Assessment for expenses of Board of G o v e r n o r s
Federal Reserve currency:
Original cost
Cost of redemption

1,309,472
49,908
80,095
11,210

T o t a l current expenses

1,450,685

PROFIT A N D LOSS
Current earnings
Current expenses

1,495
798
1,804,145
20,385
17,736
18,658

ACCOUNT

,

1,863,217
1,450,685

Current net earnings

-

A d d i t i o n s t o current net earnings:
Profits o n sales of U . S. G o v e r n m e n t securities
A l l other

412,532
308,766
13,878

Total

322,644

D e d u c t i o n s from current net earnings:
Reserves for contingencies
Prior service contributions to Retirement S y s t e m
Assessment for building for Board of G o v e r n o r s
A l l other
Total

-

301,355
144,902
59,653
4,101
510,011

N e t deductions from current net earnings

187,367

N e t earnings
D i v i d e n d s paid

225,165
225,724

W i t h d r a w n from surplus ( S e c t i o n 1 3 b )




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559

V O L U M E OF MAJOR

OPERATIONS
Pieces
I^andled

O u r i n g Year 1 9 3 6

Aggregate
Amounts

Checks (cash items) handled:
U . S. G o v t , checks and warrants
A l l other checks

10,155,000
46,292,000

Collections ( n o n c a s h items) handled:
XJ. S. Govt, coupons paid
O t h e r collection items

1,188,000
394,000

20,095,000
460,792,000

61,000

3,484,261,000

Paper currency received and counted

121,679,000

448,504,000

Coin received and counted

110,825,000

14,181,000

278

11,850,000

1,199,000
45,000

575,924,000
49,328,000

6,000

47,918,000

Transfers of funds.

Rediscounts, advances and commitments
N e w issues, redemptions, and exchanges of
securities as fiscal agent of:
U n i t e d States G o v e r n m e n t
G o v e r n m e n t instrumentalities.
Collateral to G o v e r n m e n t deposits
received for custody
Coupons clipped from securities in custody
Bills and securities held in custody at close
of business D e c e m b e r 3 1 :
For U n i t e d States Treasury
For Reconstruction Finance Corp
For other G o v e r n m e n t departments,
agencies and officials
For member banks
-

^

771,348,000
11,681,703,000

176,000

382,884,000
242,535,000
23,265,000
181,467,000

MEMBERSHIP
A t end of t h e year there were 388 member banks in the district, comprising 3 1 8 national banks and 70 state banks and trust companies.
PERSONNEL
T h e number of officers and employees of the parent bank and branches
o n D e c e m b e r 3 1 , 1936, was 6 4 4 .




6 —

F E D E R A L RESERVE B A N K O F S T . L O U I S
DIRECTORS
CLASS C
WILLIAM T, NAROIN, Chairman

of tKe B o a r d
a n d F e d e r a l R e s e r v e A g e n t , St. L o u i s
P A U L DILLARD, Deputy Chairman, Memphis, Xenn.
J O H N R . SXANLEY, Evansville, I n d .
CLASS

A

CLASS B

F . G U Y H I X X , Z e i g l e r , 111.
J O H N G * L O N S D A L E , St. L o u i s
M A X B . NAHKf, B o w l i n g G r e e n , K y .

J . W* H A R R I S , S t . L o u i s
W . B . P L U N K E T X , Little Rock, A r k .
M . P . S T U R D I V A N X , G l e n d o r a , Miss.

OFFICERS
WILLIA:M M C C . M A R X I N , President
O L I N M . A T X E B E R Y , First V i c e - P r e s i d e n t
A . M. H A I L L , Asst. C a s h i e r
J O H N S. W O O D , Vice-President
S. F . GiLlVfORE, A s s t . C a s h i e r

JAS. G . MLcCONKEY, V i c e P r e s i d e n t
and General Counsel
C . M . SXEWARX, C a s h i e r a n d S e c r e t a r y
L. H . B A I L E Y , G e n e r a l A u d i t o r

F. N . HALL, Asst. C a s h i e r
G . O . HOLLOCHER, Asst. C a s h i e r
O . C . PHILLIPS, A s s t . C a s h i e r
A . E. D E B R E C H X , Asst. A u d i t o r

LOUISVILLE
DIRECXORS
W. W. CRAWFORD, Chairman,
W M . R . C O B B , Louisville, K y .

BRANCH

Louisville, K y .

OFFICERS
J O H N X. M : O O R E ,

M^anaging D i r e c t o r
C . A . SCHACHX,
Cashier

A . H . ECKLES, H o p k i n s v i l l e , K y .
J. B . H I L L , L o u i s v i l l e , K y .
J O H N X. M : O O R E , Louisville, K y .
W. P. P A X X O N , Paducah, Ky.
J. O . S A N D E R S , H u n t i n g b u r g , I n d .

SXANLEY B . JENKS,

Asst. Cashier

MEMPHIS

DIRECTORS
J. W . A L D E R S O N , Forrest City, A r k .
W, H . G L A S G O W , M e m p h i s , X e n n .
W M . R. K I N G , Memphis, Xenn.
W I L L I S P O P E , Columbus, Miss.
J. H O L M E S S H E R A R D , S h e r a r d , M i s s .

BRANCH

OFFICERS
\V. H . G L A S G O W ,

Managing Director
S. K .

BELCHER,

Cashier
C . E.

MARXIN,

Asst. C a s h i e r
LIXXLE

ROCK

DIRECXORS
I. N . B A R N E X X , JR., Chairmian, Batesville,
A . F . B A I L E Y , Little Rock, A r k .
F. K R A M E R D A R R A G H , Little Rock, A r k .
P A U L R . M : C C O Y , Stuttgart, A r k .

J o N i C H O L , P i n e Bluff, A r k .
J A M E S H . P E N I C K , Little Rock, A r k .
H . H . XUCKER, Little R o c k , A r k .

BRANCH
OFFICERS

Ark.

A . F . BAILEY,
Managing Director
ML. H . L O N G ,
Cashier
CLIFFORD W O O D ,
Asst. C a s h i e r

FEDERAL ADVISORY

COUNCIL MEMBER
W A L X E R W . S M I X H , St. L o u i s

INDUSXRIAL ADVISORY COMMIXXEE
W M . K . N O R R I S , C h a i r m a n , St. L o u i s
H E N R Y S. G R A Y , L o u i s v i l l e , K y .
J A C O B V A N D Y K E , V i c e - C h a i r m a n , St. L o u i s
M . E. FiNCH, Miemphis, X e n n .
M A U R I C E W E I L , St. L o u i s
L. J. B U B , Secretary
March 4, 1937.



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