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FEDERAL

R E S E R V E

BRANCH

BANES

0G0

OUTLINE COVERING
POWERS, FUNCTIONS, AND CHARACTER AND V O L U I E
OF BUSINESS HANDLED

Federal Reserve Board,
Washington, B.C.




OUTLINE OP FEDERAL RESERVE BRAI7CH BANKS,
COVERINGPOTERS, FUNCTIONS, AND CHARACTER AND VOLUME 0?
BUSINESS HANDLED.
*******
* * * * *
***
*

Federal Reserve
Branch
Buffalo
Cincinnati
Pittsburgh
Baltimore
New Orleans
Birmingham **
Jacksonville
Savannah Agency
Detroit
Louisville
Menphis .
L i t t l e Bock
Omaha
Denver
E l Paso
Spckane
Seattle
Portland
Salt Lake

Pages
^
5-8
S" 1 ^
13-16
17-20
21-24
-

50-53
5^-57
58-61
62-65
06-69
70-73
* * * * *

FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
SEPTEMBER, 1919*




25
3p-33
3^-37
38-*1
^-2-45

1.
BUFFALO BRANCH
of theEEDERAL RESERVE BANK OF HEW YORK*,
Opened for business

DIRECTORS:

Five, including the manager.

May 15f 1919.

Meetings -

the thirdBrorsfl&y of each

monthPERSONNEL:

Two o f f i c e r s and 80 employes (July 17, 1919)

IERBITGRT ASSIGNED: The ten most westerly counties of New York State as follows:
Monroe
Livingston
AlleghaxQr
Orleans
Genesee
Wyoming
Cattaraugus
Niagara
Erie
Chautauqua
MEMBER BANKS ' I N BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
National
Non-National
National
Non-National
At opening of
•branch
55
S
$15,916,300
$U,020,000
July 15, 1919

- -

56

11

16,116,300

10,783,000

PAR LIST:
Number ofI non-member openingon par l i s t At banks of branch
July 25, 1919
T o t a l number of non-member banks i n branch t e r r i t o r y
July 25, 1919, not on par l i s t — . -

i- 77
77

None

POWERS AND JUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries no deposit accounts* A l l amounts received
on deposit are transmitted d a i l y by telegraph or otherwise to
the Federal Reserve bank of New York for c r e d i t to the accounts
of the depositing banks.*




- Government. Carries no Goverrment.deposits* Redeems c e r t i f i c a t e s ,
pays Government checks, e t c * , but closes out balance through
head o f f i c e daily*

Buffalo - 2 -

Discount and open market operations - Carries no earning a s s e t s . Applicat i o n s f o r loans and discounts from member banks and o f f e r s
f o r sale o f m a i l t r a n s f e r s , Bankers 1 acceptances and b i l l s of
exchange e l i g i b l e f o r purchase by Federal Reserve banks* are
t r a n s m i t t e d t o Federal Keserve bank o f New York f o r f i n a l act i o n * Immediate c r e d i t , however, i s given i n cases where i t
becomes necessary f o r member banks to rediscount i n order to
meet unexpected c l e a r i n g house d e b i t balances and i n other
cases where quick arrangements become necessary I I n cases
where notes are c o l l a t e r a l e d by U n i t e d States s e c u r i t i e s , the
branch holds c o l l a t e r a l and forwards notes to the parent bank
w i t h t r u s t r e c e i p t showing amount and nature o f c o l l a t e r a l
h e l d * Member banks i n branch t e r r i t o r y may d e a l d i r e c t l y w i t h
the parent bank*
Clearing and C o l l e c t i o n Department - Clearing and c o l l e c t i o n of checks and
the supplying o f banks i n i t s t e r r i t o r y w i t h an adequate supp l y of currency are the p r i n c i p a l functions e x e r c i s e d V the
branch* Handles about 16,000 items d a i l y *
Clearing House - Has l i m i t e d membership i n the B u f f a l o Clearing
House Association w i t h the p r i v i l e g e o f c l e a r i n g checks and
d r a f t s and other items which are clearable through the B u f f a l o
Clearing House*
D i r e c t Routings - Branch routes d i r e c t items d r a m on banks on
the par l i s t i n D i s t r i c t No*2, outside New York C i t y *
P r i v a t e Wire System - (Telegraphs d a i l y to the p a r e n t bank amounts o f a l l
items r e c e i v e d f o r immediate c r e d i t or immediate d e b i t to
members or other F e d e r a l Reserve banks; also amounts of currency deposits, etc#
BANK PREMISES:




Occupies quarters and h a s ' v a u l t space i n the Chamber of Commerce B u i l d i n g ,
Rent $1,U00 per month*

>

Buffalo v - 3 *
JEARNINGS AND EXPENSES
For perioft June 1 to June 30, 1919•
Earnings (Gross)

A l l earning assets are c a r r i e d on books of head o f f i c e

Current Expenses:
Salaries
Overtime and suppers
P r i n t i n g and Stationery supplies
Equipment
Miscellaneous

$11,651*3^
930"90
j)0U„70
7,467.07
2,72262
10,168*65
660.00
1,807-26
4,424.74
1,400.00
19*80
537«60

Building a l t e r a t i o n s
Federal Reserve notes
Postage
"
"
Traveling expense
Kent
Federal Reserve bank: notes
Protection
Total
$42,094,68
Salaries shown above are about $3,600 i n excess of
the present p a y - r o l l . The items for equipmenti $7,467,
and for p r i n t i n g and stationery, $504, are i n a sense
i n i t i a l expenditures and w i l l undoubtedly run somewhat
less i n succeeding months* The item of $10,l6S for
building a l t e r a t i o n s i s s e l f explanatory, and the heavy
item of traveling expense represents i n large p a r t the
cost of returning employes to New York C i t y .
j
CHARACTER AND VOLUME OF BUSINESS HANDLED:
DEPOSITS: Branch carries no deposit accounts. Average cash balance/ based
on Friday night figures f o r period June 1 to June 30, 1919,
$16,702,539VOLUME OF PAPER DISCOUNTED AND BOUGHT: Branch carries no earning assets*
Applications f o r discounts are forwarded to head o f f i c e for f i n a l
action.




Buffalo
CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items
handled, d a i l y during period; June l 6 to July 15, 1919*
Number
Items d r a m on hanks i n branch c i t y
Items d r a m on banks i n head o f f i c e c i t y ,
forwarded d i r e c t to drawee bank
Items forwarded to head o f f i c e
Items d r a m on hanks i n this d i s t r i c t outside of
F . R. hank and branch c i t i e s
•
Items drawn on hanks i n other F. R» d i s t r i c t s :
Forwarded to other F. R. hanks or branches — «•
Items d r a m on Treasurer of TJ. S.
— TOTAL

•

CGERMCY RECEIPTS AND SHIFMEHDPS:

Currency received:
From member banks
From non-member banks

- - - - - - -

Currency shipped or delivered:
To member banks
To non-member batiks - - -

$3»H1»a07

&59

816,695

7,697

1,28^,120

3,279
536

779,230
237

16,767

6,IU9,U89

-

ZK

3,050
2,235

1,237

1,637
2.211

5,285

1,213

_ _ _ _ _ _

- - -

1,813
1 ? 553

1,085
76

2,898
1,629

- -

Total




^>39^

( I n thousands of d o l l a r s . )
June l ~ J u n e 30, 1919
Outside
Total
Branch
Branch
City
City

Total

Excess receipts

Amount

3,366

l,l6l

^,527

682

76

758

Cincinnati - 5 CHTCE1NATI BRANCH
of the
FEDERAL RESERVE BAKK OF CLEVELAND
Opened for business

January 10, 1918.

DIRECTORS:

Five, including the manager* Meetings Tuesday
f i r s t Friday of each month*

PERSONNEL:

Three o f f i c e r s and

TERRITORY" ASSIGNED:

preceding the

employes (Dec*31, 1918)

That p a r t of Kentucky in' Federal Reserve D i s t r i c t No.1* and
the following 25 counties i n southern p a r t of Ohio:
Adams
Athens
Brown
Butler
Clark
Clexmont
Clinton
Darke
Fayette

Pike
Preble
Ross
Scioto
Vinton
Warren
Washington

Gallia
Green
Hamilton
Highlands
Jackson
Lawrence
Meigs
Miami
Montgomery

MEMBER BANKS I N
BRANCH TERRITORY:
National
Jan. 1, 191S
, Apr* i ; 1919

19^
I9U

NUMBER
Non-National
3
13

CAPITAL AND SURPLUS
National
Non-National
$1*6,81*5,000
1*8,1*15,000

$

387,000
9,006,000

PAR LIST:
Number of non-member banks on par l i s t At opening of branch
July 15, 1919 - :
T o t a l number of non-member banks i n branch t e r r i t o r y
July 15, 1919, not on par l i s t

.

107
2U9
75

POWERS AND FUNCTIONS EXERCISED BT BRANCH:
Deposits - Members - Carries no deposit accounts** A l l amounts received on
deposit are transmitted d a i l y by telegraph or otherwise to
the Federal Reserve bank of Cleveland for c r e d i t to the accounts o f depositing banks*




~

Government. Carries no Government deposits* Redeems c e r t i f i c a t e s ,
pays Government checks, e t c * , but closes out balance through
head o f f i c e d a i l y *

Cincinnati - 6 -

IDiscbunt and open market operations - Carries no earning assets. Applications
for loans and discounts and o f f e r s f o r sale of mail transfers,
bankers' acceptances and b i l l s of exchange e l i g i b l e for purchase
by Federal Reserve banks, are transmitted to Federal Reserve
Bank of Cleveland for f i n a l a c t i o n . Immediate c r e d i t , however,
i s given i n cases where i t becomes necessary f o r member banks to
rediscount i n order to meet unexpected clearing house debit b a l ances and i n other cases where quick arrangements become
necessary. Member banks i n branch t e r r i t o r y may deal d i r e c t l y
w i t h the parent bank.
Clearing and Collection Department - Bie clearing and collection of checks and
the supplying of currency to banks i n i t s t e r r i t o r y are the
p r i n c i p a l functions exercised by the branch. Handles about
22,300 items d a i l y .
Clearing House - Has f u l l membership i n Cincinnati Clearing House
Association but pays no dues*
Currency Receipts and Shipments - Currency receipts and kiipments during the 6
months ending June 30 were about t h r e e - f i f t h s those of the
parent bank.
Private Wire System - Telegraphs daily to parent bank amounts o f a l l items
received f o r immediate c r e d i t or immediate debit to members Q?
other Federal Reserve banks, also amounts of a l l currency
deposits, etc* Monthly r e n t a l of branch l i n e between Cleveland
and Cincinnati ^194*17. Salaries paid operators during January,
including salaries to operators on C l e v e l a n d - P i t t s b u r g l i n e ,
^544*34.
BAHK PREMISES:




Occupies quarters and has v a u l t space i n the Union Savings Bank
and Trust Company Building. Rent ^417. per month.

Cincinnati - 7 -

EARNINGS AMD EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1919.
January 1 - March 31
Earnings (Gross) . . . •
Current Expenses:
Salaries
Other operating expenses
P. R. currency
Furniture and f i x t u r e s
_
(Transit
TOt 1
*
(Other

A p r i l 1 - June 30

A l l earning assets c a r r i e d on hooks of
head o f f i c e .

-

-

Ratio of t r a n s i t department expenses .to
current expenses exclusive of cost
of F . R. currency

y7»0J0
3,370
402
857
5,523
6,176 &L1,699

48.9$

^6,362
3*498
474
219
5,311
5,242 #L0 t 55g

52.7$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Branch carries no deposit accounts. Average cash balances based on
Friday night figures January 1 to March 31,
^2,438,000
A p r i l 1 to June 30,
1,918,181

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Branch c a r r i e s no earning assets. Applications f o r discounts are forwarded to head o f f i c e f o r f i n a l action.
CLEARING AND COLLECTION DEPARTMENT:
Average number end amount of items handled
daily during pe,riod$ ; January 16 to A p r i l 15, and A p r i l 16 to July 15,
1919.
v
^
r /
- 4
J a n . l 6 - A p r i l 15
A p r i l 16-July 15
Number Amount
Number Amount
Items drawn on bank? i n branch c i t y
3,731 $4,341,375 4 , 1 9 1 3 2 2 , 5 2 8
Items cLrawn on batiks i n head o f f i c e c i t y ,
*
forwarded d i r e c t to drawee bank —
110,661
190
117,324
Items forwarded to head o f f i c e —
150
Items forwarded to other branches i n t h i s
24
75,735
98,203
district
22
: J
Items |rawn on banks i n this d i s t r i c t ,
outis|de of F.R. )>ai$ and branch c i t i e s — 1 5 / 7 0 6 2,535,392 16,510 2,340,990
Items |rawn On banks i n other F . R . d i s t r i c t s
1
154
49,779
14,596
Forwarded d i r e c t to drawee bank - —
39
349,107
263
362,569
Forwarded to other F.R.banks or- branches
258
236.162
251.952 2 t 319
Items kravm on Treasurer of U. S.
2.388




7,714,748 23,651

7,491,620

Cincinnati - 8 CDRBENCY RECEIPTS AND SHIBJENISs Monthly average f o r periods January 1 to March 31,
and A p r i l 1 to June 30, 1919s
( I n thousands of
January 1-March 31
April
In
In
Outside
Branch Branch total
Branch
City
City
City
Currency received From non-member banks

-

Total
Currency shipped or delivered lb member banks — — - —
It) non-member banks
total




dollars*]
l~June 30
Outside
Branch total
City

4,329
1

1,598
34

5,927
35

5,625
2

1,599
14

7,224
16

4.320

1,632

5,962

5,627

1,618

7,240

*

1,794
2

1,002

§

2,796
6

1,738
6

1*575
6

3,313
12

1,796

1,006

2,80 2

1,74ft

1,581

3,325

2,534

626

3,160

3,883

32

3,915

-9?

PITTSBURGH E3ANCK

of the
EEEERAL RESERVE BANK OF CLEVELAND
Opened for business —

DIRECTORS:

A p r i l 22, 1918.

Five, including the manage*• 'Meetings - Tuesday preceding the
f i r s t Friday of each month*

PERSONNEL:

Two o f f i c e r s and 6 l employes (Dec* 31, 1913)

TERRITORY ASSIGNED: Those portions No.U„
i n D i s t r i c t of Pennsylvania and West V i r g i n i a included
MEMBER BANKS IN
BRANCH TERRITORY:
NUMBER
National
Non-National
At opening of
branch
A p r i l 1, 1919

310
- - 308

7
15

CAPITAL AND SURPLUS
National
Non-National

$93,^,000
97,082,000

900,000
51,02^,000

PAR LIST:
Number of non-member banks on par l i s t At opening of branch - - July 15, 1919
T o t a l number of non-member banks i n branch
t e r r i t o r y July 15, 1919, not on par l i s t

160
225

;

None

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks* Carries no deposit accounts* A l l aaounts received
on deposit, are transmitted d a i l y
telegraph or otherwise to
the Federal Reserve bank of Cleveland for c r e d i t to the accounts
of the depositing banks.




• Government* Carries no Government deposits* Redeems c e r t i f i c a t e s ,
pays Government checks, e t c * , but closes out balances through
head o f f i c e d a i l y .

Pittsburgh -2ft*
Discount and open market operations - Carries no earning assets* Applications
f o r loans and discounts from member banks and o f f e r s f o r sale of
mail transfers* bankers' acceptances and b i l l s of exchange e l i g i ble f o r purchase by Federal Reserve banks, are transmitted to
Federal Beserve bank of Cleveland f o r f i n a l a c t i o n . Immediate
c r e d i t * however, i s given i n cases vftiere i t becomes necessary f o r
member banks to rediscount i n order to meet unexpected clearing
house debit balances and i n other cases where quick arrangements
become necessary* I n cases where notes are c o l l a t e r a l e d by U. S.
s e c u r i t i e s , the branch holds c o l l a t e r a l and forwards notes to
parent bank w i t h t r u s t receipt showing amount and nature of c o l l a t e r a l held* Member banks i n branch t e r r i t o r y may deal d i r e c t l y
w i t h the parent bank*
Clearing and Collection Department - Clearing and collection of checks and the
supplying Qf banks i n i t s t e r r i t o r y with an adequate supply of
currency are the p r i n c i p a l functions exercised by the branch*
Handles about 26,900 items d a i l y .
Clearing House«<- Has l i m i t e d membership i n the Pittsburgh Clearing
House Association w i t h the p r i v i l e g e of c l e a r i n g checks and
d r a f t s and other items which are clearable through the P i t t s b u r g
Clearing House •
D i r e c t Routings- Branch routes d i r e c t items drawn on banks on the
par l i s t i n D i s t r i c t No.4, outside F* B. bank and branch c i t i e s *
Currency Receipts and Shipments - During the 6 months ending June 30, currency
receipts were over 150 per cent and currency shipments more than
double those o f the head o f f i c e .
Private Wire System - Telegraphs d a i l y to the parent bank amounts of a l l items
received f o r immediate c r e d i t or immediate debit to members or
other Federal Reserve banks; also amounts of currency deposits,
e t c . monthly r e n t a l for branch l i n e between Cleveland and P i t t s burgh, $ltt6*67. Salaries paid operators during January, including
salaries of operators on the Cleveland-Cincinnati l i n e , were
£544*34.
BANK PREMISES:




Occupies quarters and has v a u l t space i n the Second National tiank
Building. Rent ^66? per month.

Pittsburgh -2ft*
EAHNINGS AND EXPENSES
Monthly average for period January 1 to March 31 and A p r i l 1 to June 30 f 1919*
Jan»1—Mar*31
Earnings (Gross) -

—

Current Expenses:
Salaries
Other operating expenses
P. R. currency
.
Furniture and f i x t u r e s
total
f3*811?"
(0 their

A p r i l 1—June 30

A l l earning assets carried on books of
head o f f i c e *

—
—
~ *

- - $7,877
- - 4,380
434 .
357
?t319
5,729 $13,048

Ratio of t r a n s i t department expenses to current
expenses exclusive of cost of F.B. currency -

58.0$

$8,049
4,329
734
350
6,477
6,985 $13,462
50-9$

CHARACTER AMD VOLUME OF BUSIES? HAttnT.ttn
DEPOSITS:

Branch c a r r i e s no deposit accounts. Average cash balanfces based on
Friday n i g i t figures f o r periods January 1 to March 31
$9,532,264
A p r i l 1 to June 30 6,647,626

'VOLUME OF PAPER DISCOUNTED AND BOUGHT: Branch c a r r i e s no earning assets- Applications for discounts are forwarded to head o f f i c e f o r f i n a l action*
CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y daring periods January 16 to A p r i l 15 and A p r i l 16 to July 15,
1919
J a n . l 6 - A p r i l 15
Apr*16-July 15
Number
Amount Number
Amount
7,955 $8,916,805 8,497 $9,388,866

Items drawn on banks i n branch c i t y
Items drawn on batiks i n head o f f i c e c i t y ,
forwarded d i r e c t to drawee bank
Items forwarded to head o f f i c e
358
Items forwarded to other branches i n this
district
173
Items ds&wn on banks i n t h i s d i s t r i c t
outside of F.R. bank and branch c i t i e s
15,428
Items drawn on banks i n other F . R . d i s t r i c t s :
Forwarded d i r e c t to drawee bank
Forwarded to other F.R* banks and branches 1,430
Items drawn on Treasurer of U. 8*
1.510
TOTAL




247,195

160

56,380

71

61,535

2,425,028 18,049

2,589,215

1,550,663
1.003.962

1*479,166
614.76?

1,641
1.826

148,638

26,854 14,200,033 30,244 14,282,187

Pittsburgh -2ft*

CUHRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, 1919( I n thousands of dollars-)
I r-JanCl^larch 31
A p r i l 1—June 30
In
Outside
In
Outside
Total
Branch Branch Total Branch Branch
City
City
City
City
Currency received From member banks - - — - - 13,729
12,830 1,770 14,600
1,078 14,807
101
From non-member banks - - - 32
31
56
69
25
13,75^

1,109 14,863

12,899

1,802

14,701

Currency shipped or delivered To member banks
- - - - - - - 12,237
To non-member banks
a

1,629 13,866
, 18
39

9,097
95

3,051
30

12,148
125

1,647 13,905

9,192

3,081

12,273

Total

Total
Excess receipts
Excess shipments - —




12,258
1^96

53S

95S

2,428

3,707
-

1,279

-13?
BALTIMORE BRANCH

of the
FEDERAL RESERVE BANK OF RICHMOND

Opened for business —
DIRECTORS:

March 1, 191S.

F i v e , including the Manager.

EXECUTIVE COMMITTEE:
PERSONNEL:

Manager, Cashier and one D i r e c t o r .

Three o f f i c e r s and 73 employes (May 24* 1919)

TERRITORY ASSIGNED:

State o f Maryland
Banks and t r u s t companies i n other parts o f Federal Reserve
d i s t r i c t No.5 may be authorized by Richmond F. R. bank to
deal d i r e c t w i t h Baltimore branch.

MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
National
A t opening o f
branch
March 4 , 1919

- -

95
96

Non-National
3
7

CAPITAL AND SURPLUS
National
Non-National
$28,430,718
29,355,718

$4,600 1 000
5,134,105

PAR LIST:
Number o f non-member banks on par l i s t
A t opening of branch
JflJ®, 1919

-

2 b t a l number of non-member banks i n branch t e r r i t o r y
1 5 * 1919, not on par l i s t

5S
.
2

3

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries reserve accounts of banks assigned to deal
w i t h branch.
- Government. Keeps Government account and received and disburses
Government funds. Receipts and disbursements of Government funds
from March 1918 to March 1919 aggregated,$46,155,000 and
$257,747,000 r e s p e c t i v e l y . Excess disbursements were made from
funds transferred from Richmond o f f i c e .




Baltimore - 1 4 -

Piscount and open market operations - Receives front banks and t r u s t companies
authorized to deal d i r e c t l y w i t h i t , o f f e r i n g s o f b i l l s f notes,
and other instruments o f c r e d i t e l i g i b l e f o t discount or purchase by a Federal Reserve bank and transmits same to parent
bank w i t h appropriate recommendations Immediate c r e d i t f o r the
face value of such paper i s given on the books of the branch,
subject to f i n a l approval by the Executive Committee .of the
Richmond Bank*
C l e a r i n g and C o l l e c t i o n Department - Operates department f o r c l e a r i n g and
c o l l e c t i n g checks payable upon presentation* also f o r the coltl e c t i o n o f maturing notes and b i l l s . Handles about 19,800 items
daily.
Gold Settlement Fund - Branch telegraphs F* R, Board d a i l y f o r
settlement t h r o u ^ i Gold Fund amounts c r e d i t e d to Gold settlement
Fund - Suspense account other F . R . banks.
C l e a r i n g House - A l i members of' Baltimore C l e a r i n g House are members
o f F* R. system, and c l e a r i n g house balances are p a i d by d e b i t
o r c r e d i t e n t r i e s to reserve accounts on the books o f the branch*
D i r e c t Routings - Baltimore banks route d i r e c t about 2,00Q items
d a i l y f o r c r e d i t a t branch•
Currtencv Receipts and Shipments - C a r r i e s an adequate §upply of Federal Reserve
notes to meet a l l currency requirements of banks i n i t s t e r r i t o r y .
Receipts and d e l i v e r i e s of currency during the 6 months ending
June 30 exceeded those of the parent bank.
F i s c a l Agency Operations - Acts as F i s c a l Agent f o r Ifer Finance C o l o r a t i o n .
telegraphic

t r a n s f e r s - Makes telegraphic t r a n s f e r s to and from other d i s t r i c t s
f o r the account o f member banks. Transfers by branch f o r B a l t i more banks from June 15,1918 to. February 28* 1919 aggregated
$237,239,000,

P r i v a t e Wire System - Member banks i n Maryland use Baltimore p r i v a t e wire to
Richmond i n connection w i t h F i s c a l Agency operations. As B a l t i more i s on main l i n e from Washington to Boston, Hew York and
P h i l a d e l p h i a , no w i r e r e n t a l i s charged f o r Baltimore s e r v i c e .
S a l a r i e s p a i d operators during January amounted to $125.
BiHK PREMISES:




Purchased b u i l d i n g formerly occupied by the N a t i o n a l
3ank a t cost o f $ 2 0 0 , 0 0 0 ,

Mechanics f

Baltimore - 1 5 MIMMS

ASP ac.gsarsBa_

Monthly average for periods January 1 to March 31 and A p r i l 1 to June 30, 1919.
Earnings (Gross)

A l l earning assets c a r r i e d on books of head o f f i c e ,
Jan.!-March 31 A p r i l 1-June S
O

Current Expenses:
Salaries - Other operating expenses
F. R. Currency
Furniture and fixtures
n u t a l (Transit
(Other

£6,627
5,188
14
- 6,700
6,855 $13,635

Ratio of t r a n s i t department expenses to current
expenses exclusive of cost of F.R.curreney

$6,987
5,345
107
1+0S6
5,516
7,609

49*8$

$13,525

44.1$

CHARACTER A M ) VOITJME OF BUSINESS GAMDLED

DEPOSITS:

Average daily deposits, based on Friday night figures, for periods
Jan. 1 to March 31 and A p r i l 1 to June 30, 1919; .

Member banks' reserve account
U. S. Government - general account
Deferred A v a i l a b i l i t y items
Other deposits - - '
Deductions from gross deposits:
Due from head, o f f i c e
Uncollected items -

Jan.l-Mar.31 Apr.1-June 30
$16,150,395 $15,603,475
1,041,846
1,092,314
6,762,192
11,574,937
6.386
2.583
•
- -

(a) 6,482*610
10,630,014

(b)
12,199,454

March 28, 1919
(a) Maximum amount due from head o f f i c e $13,875,749
January 17, 1919
684,921
• K :2fiinixcom fieomit due from head o f f i c e
L
(b) Average balance f o r nine weeks ending
May 29 - $7,592,384. Beginning June
1st e n t i r e balance due from head
o f f i c e was transferred to Baltimore
books and carried among the gold
holdings of the Branch.
$240,712
Average cash reserves A p r i l 4 to May 29
10,664,780
Average cash reserves June 6 to June 27
Member^baiflcsJ. baj.anc^s_MaTOh_4JL 1919^

State bank and t r u s t company members
A l l member banks
(a) March 7 .



Reserve balance
Payment - a/c
with
c a p i t a l stock
Branch
with head o f f i c e
• - $1,912,241
$ 154,023
(a) 16,171,063
1,034,695

Baltimore - 1 6 VOLUME OP PAPER DISCOUNTED AND BOUGHT:. Monthly average f o r periods January 1 to
March 31 t 1919 amd A p r i l 1 to June 30, 1919.
jan.l~Mar.31
Discounts for member banks National banks
.
State banks and trust companies

^38,727,811
6,579,560

10,854,553

108.800

-

602,700,

45*416,171

.87,968,768

Acceptances bought i n open maxket
Total discounted and purchased b i l l s
Average d a i l y b i l l holdings

Apr.l-June 30
, ^
C.c

A l l earning assets transferred to
head o f f i c e d a i l y .

CLEABING AND COLLECTION DEPAROMENT: Average number and amount of items handled
d a i l y during period January 16 to A p r i l i f i and April36 to July 1 5 , 1919:
J a n . l 6 - A p r i l 15
A p r i l 16-July 15
Number
Amount
Number
Amount
Items drawn on banks i n branch c i t y ~ - - 5,300 ^4,625,703 5,557 $5,223,299
Items drawn on banks i n head o f f i c e c i t y ,
forwarded d i r e c t to drawee bank
Items forwarded to head o f f i c e
105
158,312
279
404,329
Items drawn on batiks i n t h i s d i s t r i c t ,
outside F.R. bank and branch c i t i e s 10,928 1,578,548 12,473 1,858,192
Items drawn on banks i n other F.R.
districts.
Forwarded d i r e c t to drawee bank
Forwarded to other F.R.bariks or
branches
3,408 2,736,271 4,153 2,969,608
Items drawn on Treasurer of U. S.
58
40.899
71
.40.158
TOTAL

19,799

9,139,733 22,5i33 10,495,586

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average f o r periods January 1 to March 31,
and A p r i l 1 to June 30, 1919:
January 1-March 31
A p r i l 1-June 30
( I n thousands of d o l l a r s . )
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
City
City
City
Currency received From member banks
8,936
274
9,210
7,965
86
8,051
From non-member banks
14
14
34
34
Total

8,936

Total - - - - Excess r e c e i p t s
l&cess shipments



- - ^ -

9,224

7,965

120

8,085

4,676'
4

167
13

4,843
17

4,011
-

222
24

4,233
24

4,680

Currency shipped or delivered To member banks
s To non-member banks — - —

288

180

4,860

4,011

246

4,257

4t256
-

108
-

4,364
-

3,954
-

~
126

.3,828
*
-

-17?
NEV? ORLEANS BRANCH
of the
FEDERAL RESERVE BANK OF ATLANTA

Opened f o r business

DIRECTORS:

Seven*

I/IdCOUNT COMMITTEE:
PERSONNEL*

- September 10, 1915

Meetings f i r s t Eaurfcday each inonth.

Manager and three B i r e c t o r s .

Font* o f f i c e r s and 40 employes (May 31, 1919)

TERRITORY ASSIGNED: Biose parts o f the states of Louisiana and Mississippi located
i n the 6th D i s t r i c t and the counties of Mobile and Balawin, i n
Alabama.
MEMBER BANKS I N
BRANCH TERRITORY:
NUMBER
National
Non-National
A t opening of
branch
June 1 9 1919

27
38

i18

CAPITAL AND SURPLUS
National
Non-National
$13,008,350
14,823,350

$13,946,650

PAR LIST:
Number of non-member banks on par l i s t
A t opening of branch
J&ly 15, 1919

-

Total number of ncm-member banks not on par l i s t
July 15, 1919

-45
44

-210

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries reserve and c l e a r i n g accounts o f banks and
t r u s t companies i n branch t e r r i t o r y .
- Government. Carries Government account without s p e c i f i c ' authorized
l i m i t . Receives and disburses Government funds. Forwards d a i l y
t r a n s c r i p t to the Treasurer o f the United States. F i s c a l agency
operations with banks i n own t e r r i t o r y .




New Orleans - 1 8 * Discount and open market operations - Rediscounts e l i g i b l e paper f o r member
banks and buys acceptances i n the open market f o r i t s own account.
Clearing and Collection Department - Operates department f o r c l e a r i n g and c o l l e c t i n g checks and d r a f t s ; also other items c o l l e c t i b l e through a
Reserve bank. Handles about 6V000 items d a i l y *
Gold Settlement Fund - telegraphs the Federal Reserve Board d a i l y
f o r settlement through the Gold Fund, amounts credited to Gold
Settlement Fund - Suspense account other Federal Reserve banks.
Clearing House - Membership l i m i t e d to c l e a r i n g of checks.
Currency Receipts and Shipments - During the 6 months ending June 30, currency
receipts were over one h a l f , and currency shipments about equal
those of the head o f f i c e *
telegraphic

Transfers - Makes telegraphic transfers to and from other d i s t r i c t s
f o r the account of member banks. Net earnings on transfers bought
and sold during the 3 months ending March 31, 1919, ,48,356,00*.

P r i v a t e Wire System - On branch l i n e between A t l a n t a , Birmingham and New Orleans.
Monthly r e n t a l $261.04* Salaries paid operators, $100.
BANK PREMISES;




Banking Department - Exchange Bank Building,
F i s c a l Agency Department - Bank of Orleans Building,
Monthly r e n t a l - $506*66
(Building of Commercial Bank and Trust Company purchased,
be occupied l a t t e r p a r t of 1919.)

v&ll

New Orleans - 1 9 -

EARNINGS AMD EXPENSES
Monthly average f o r periods January 1 to March 31 and A p r i l 1 to June 30, 1919.
January 1-March 31 A p r i l 1-June 30
Earnings (Gross)

$103,877

Current Expenses:
Salaries
Other operating expenses
P. R. currency
Furniture and f i x t u r e s
_
(Transit
" •
(Other

$4,970
3,813
4,777
556
1,395
12,721

$93>619

89,761

Net earnings

14.116

$5,614
3,953
4,920
427
1,810
13.105 14.915
78,704

Batio of net earnings to p a i d - i n c a p i t a l of
banks assigaed to brafcch t e r r i t o r y

129.8$

Batio of t r a n s i t department expenses to
current expenses, exclusive of cost of
•F. R. currency
*

14.9$

18.1$

CHARACTER AND VOLUME OF BUSINESS HANDLED

DEPOSITS:

Average d a i l y deposits, based on Friday night figures f o r periods
January 1 to March 31, and A p r i l 1 to June 3D, 1919:

Jan.l—March 31 A p r i l 1—June 30
$14,682,870
Member banks* reserve account
- $14,566,641
(b)15,436,916
Due to head o f f i c e
-(a*16,802,776
2,091,559
1,971,285
U. S. Government - general account 4,863,373
2,615,491
Deferred a v a i l a b i l i t y items
20.543
15.234
Other deposits —
?
Deductions from gross deposits:
5,861,190
Uncollected items
9,411,086
(a) Maximum
Minimum
(b) Maximum
Minimum

amount
amount
amount
amount

due
due
due
due

to
to
to
to

head
head
head
head

o f f i c e $26,074,095 January 31, 1919
o f f i c e 11,083,072 Febimary 28, 1919
o f f i c e 21,915,141 A p r i l 4 , 1919
o f f i c e 10,199,158 June 6 , 1919

balances.
Reserve balance
with
branch
State bank and t r u s t company members March 4 ,
1919
A l l member banks March 31, 1919



$7,365,174
14,958,072

Payment-a/c
c a p i t a l stock
with head o f f i c e

$ 368,300
841,280

New Orleans - 2 0 VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and A p r i l l . t o June 30, 1919*
Jan.l-Mar.3i
Discounts for member banks National banks
State banks and trust companies - Acceptances bought i n open market —
Total discounted and purchased
bills
Average d a i l y b i l l holdings

A p r i l 1-June 30

$23,704,497
29,630,037
920,^25

$23,841,159
29,303*663
1.231 >990

5^255,509

5^,376,812

29,042,078

26,978,179

- -

CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during period January l 6 to A p r i l 15 and A p r i l 16 to July 15, 1919:
Jan.l6-Apr.i5
Number Amount
Items drawn on banks i n branch c i t y - Item3 drawn on banks i n head o f f i c e c i t y ,
forwarded direct to drawee bank - - Items forwarded to head o f f i c e
Items forwarded to other branches i n
this d i s t r i c t
Items drawn on banks i n this d i s t r i c t
outside of F.R.bank and branch c i t i e s
Items drawn on banks i n other F» R»
districts:
v ~
Forvyarded d i r e c t to drawee bank - - Forwarded to other FJEL batiks or
branches
Items drawn on Treasurer of U* S.
Total

- -

-

Apr * l 6 - J u l y 15
Number
Amount

l.llA^l.SSTfWlr^^^Wg^US
175

72,135

204

.
42,103

180

56,519

150

19,973

3,268

599,242

3,649

531,128

-

-

1,66S
1.574

1,208,438
265,253

1,6*9
l i M

.
1,141,675
211,363

8,009

3,798,768

8,407

3,755,088

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30, I 9 1 9 .
( I n thousands of d o l l a r s . )
Jan.l-March 31
A p r i l 1-June 30
In
Outside
la
Outside
Branch Branch T o t a l
Branch Branch Total
City
City
City
City
Currency received .
From member banks
> 5,189
215 5 , ^
5,*H6
701
6,117
From non-member banks
19
19
-JZ
10
Total
- 5,189
234 5,^23
5,^16
711
6,127
Currency shipped or delivered To member banks
To non-member banks
Total - - Excess receipts



1,381
-

89
^2

1,470
52

2,469
-

311
-

2,780
,
^

1,381

l4l

1,522

2,469

311

2,780

3,808

93

3,901

2,947

400

3,3*7

-21?
BIRMINGHAM BRANCH
o f the
FEDERAL RESERVE BANK OF ATLANTA..
Opened f o r business —

Five*

DIRECTORS:

Aug.

1918.

Meetings - Tuesday preceding the f i r s t Friday of each
month.

DISCOUNT CCMMIOBEE:

None.

PERSONNEL:

Three o f f i c e r s and 15 employes (May 31, 1919)

TERRITORY ASSIGNED:

Oiat p a r t of the State of Alabama north of the A.& W.P.
Railroad and Western Railway of Alabama between A t l a n t a
and Montgomery and west of the L.& N. Railroad
between Montgomery and Mobile, except towns on said r a i l roads and c i t i e s and towns i n Mobile and Baldwin counties.

Offerings forwarded to head o f f i c e f o r approval.

MEMBER BANKS I N
BRANCH TERRITORY:
NUMBER
National
Non-National
A t opening of
branch
June 1 , 1919

46
49

4
7

CAPITAL AND SURPLUS
National
Non-National
$8,991,650
9,303,300

£2,098,000
2,235,000

PAR LIST;
Number of non-member banks on par l i s t
September 15, 1918
July 15, 1919

-

<K>tal number of non-member banks not on par l i s t
July 15, 1919

25
26

127

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries no deposit accounts, but receives from banks
i n branch t e r r i t o r y deposits f o r c r e d i t w i t h head o f f i c e .
- Government* Carries no d i r e c t Government deposits. Receives and
disburses Government funds f o r account of head o f f i c e . Forwards d a i l y t r a n s c r i p t to Washington, head o f f i c e assuming
d a i l y net debit or c r e d i t .




Birmingham. - 2 2 Discount and ot>en market operations - Receives and transmits to head o f f i c e
e l i g i b l e paper offered f o r discount or purchase by banks i n
branch t e r r i t o r y . Offerings are telegraphed to head o f f i c e and
c r e d i t i s given immediately* subject to charge back of i n e l i g i b l e
items.
Clearing and Collection Department - Operates c l e a r i n g and c o l l e c t i o n department
f o r handling of a l l items c o l l e c t i b l e through a Reserve bank.
Handles about 5,700 items d a i l y .
Clearing House - Membership l i m i t e d to clearing o f checks.
Currency Receipts and Shipments - During the 6 months ending June 30, currency
receipts were about 17$ and currency, shipments about 98 per cent
of those of the head o f f i c e .
telegraphic

transfers - Makes telegraphic transfers d i r e c t to and from other
d i s t r i c t s for the account of member banks.

Private *ftre System - On branch l i n e Atlanta-Bixmingham-New Orleans; monthly
r e n t a l $261,04. Salaries paid to operators $85.
BANK PREMISES -




Occupies quarters and has v a u l t space i n Jefferson County Bank
Building; r e n t a l $400 per month.

Birmingham. - 2 3 EARNINGS AMD EXPENSES

Monthly average f o r periods January 1 to March 31 and A p r i l 1 to June 30* 1919*
Earnings (Gross)

A l l earning assets c a r r i e d on books
of head o f f i c e *
Jan .1—March 31 A p r i l 1—June 30

Current expenses:
Salaries
Other operating expenses
P. R» currency
Furniture and f i x t u r e s - —
(Transit
M
(Other

—

-

Batio of Cransit department expenses to current
expenses exclusive of cost of F.R. currency

$2,047
1,805
1,978
802
2,452
4,180

$2,035
1,817
1,921
1,866
3,907

6,632

52.7$

5,773

48.4$

CHARACTER AND VOLUME OF BUSINESS HANDLED*
DEPOSITS:

Branch carries no deposit accounts*
night figures for periods ~
January 1 to March 31, 1919
A p r i l 1 to June 30, 1919

Average cash t&lances based on Friday
$1,240,785
640,967

Member banks* balances with head o f f i c e November 23. 1918
Reserve balance
State batik and t r n s t company members
A l l member banks

$1,563,506
5,524,114

Paynient - a/c
C a p i t a l stock
$62,950
336,300

On March 4 , 1919 the reserve balance of State bank and t r u s t company members
w i t h the head o f f i c e aggregated $1*562,237 and payments - a/c c a p i t a l
stock $65,200*

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Branch c a r r i e s no earning assets, A p p l i cations f o r discounts are forwarded to head o f f i c e f o r f i n a l action*




Birmingham. - 2 4 -

CUBASIHG AMD COLLECTION DEPARTMENT* Average number of items handled d a i l y during
periods January 16 to A p r i l 15 and A p r i l 16 to July 15, 1919*
jan*16—April IB
Number

Amount

5,641

Number

Amount

$462,030

1,468

$518,438

980,035

541

904,963

39,2X3

187

63,746

316,059

2,775

303,096

144*618
J90ftM£

297
1,264

221,123

2,152,100

6,532

2,228,252

Items drawn on banks i n branch c i t y - — - 1,265
Items drawn on banks i n head o f f i c e c i t y :
forwarded d i r e c t t o drawee batik
—
Items forwarded to head o f f i c e - — —
- 5 1 0
Items forwarded to other branches i n t h i s
district
- ~
134
I terns drawn on batiks i n this d i s t r i c t outside of F.R. bank and branch c i t i e s
2,529
Items drawn on banks i n other F , R # d i s t r i c t s ,
forwarded direct to drawee bank — — Forwarded to Other F.R.banks or branches 232
Items drawn on Treasurer o f U. S.
971
Total

A p r i l 16—July 15

CURRENCY RECEIPTS AND SHIBQ2N2S: Monthly average f o r periods January 1 to March 31,
and A p r i l 1 to June 30, 1919 •
( I n thousands of d o l l a r s 1
Jan .1—March 31
In
Outside
Branch Branch
City
City
Currency received From member banks - From ncmH&ember batiks —
Total
Currency shipped or delivered To member banks - - — • — To non-member banks - - - - Total
iaccess receipts




Total

A p r i l 1—June 30

In
Outside
Branch Branch
City
City

Total

1,698
21

545
36

2,243
.
57

1,495
18

321

1,816
, 49

1,719

581

2,300

1,513

352

1,865

1,166
-

452

1,638

1,099

144

1,243

1,186

452

1,636

1,099

144

1,243

533

129

662

414

208

622

-25JACKSONVILLE BFAATJH
of the
FEDERAL SBSkSVS

OF ATLANTA.

Opened f o r business

DIRECTORS:

Five.

Meetings - Tuesday before f i r s t Friday each month.

DISCOUNT COMMITTEE: None.
PERSONNEL:

August 5, 1918.

Offerings forwarded to head o f f i c e f o r approval,

Three o f f i c e r s and 14 employes (May 31, 1919)

TERRITORY ASSIGNED:

State of F l o r i d a .

MEMBER BANKS I N

BRANCH TERRITORY:
NUMBER
National Non-National

CAPITAL AND SURPLUS
National Non-National

A t opening of branch

59

5

#10,001,650

$1,453,350

June 1, 1919

53

8

9,940,000

1,493,350

PAR LIST:
Number of non-member openingon par l i s t
At banks of branch
July 15, 1919

-

Total number of non-member banks i n branch t e r r i t o r y
July 15, 1919, not on par l i s t

- - 3 8
42
145

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries no deposit accounts but receives from banks i n
branch t e r r i t o r y deposits o i current funds f o r c r e d i t w i t h head
office.




- Government. Carries no d i r e c t Government deposits. Receives and
disburses Government funds f o r fAmount of head o f f i c e . Forwards
d a i l y transcript to Washington, head o f f i c e assuming d a i l y net
debit or c r e d i t .

Jacksonville - 2 6 Discount and open market Operations - Receives and transmits to head o f f i c e
e l i g i b l e h i l l s offered f o r discount or purchase by banks i n branch
t e r r i t o r y . Offerings are telegraphed to head o f f i c e and c r e d i t i s
given immediately, subject to charge back of i n e l i g i b l e itemsClearing and Oollection Department - Operates a c l e a r i n g and collection department for handling a l l items c o l l e c t i b l e througi a Reserve bank.
Handles about 4,600 items d a i l y .
Clearing House - Membership i n Jacksonville Clearing House Association
l i m i t e d to c l e a r i n g of checks.
Currency Receipts and Shipments - Carries an adequate supply of notes to meet
a l l currency requirements of banks i n i t s t e r r i t o r y . Receipts and
shipments f o r period January 1 to June 30 1919 were about equal
those of the Birmingham branch,
Telegraphic Transfers - Makes d i r e c t telegraphic transfers to and from other
d i s t r i c t s f o r the account of member banks.
Private a i r e System - On Atlanta-Jacksonville branch l i n e , monthly r e n t a l $331,
Salaries paid to operators $100.
BANK PREMISES -




Occupies quarters and has v a u l t space i n the Heard National Bank
Building, monthly r e n t a l $450,

Jacksonville - 2 7 EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1919Earnings -(Gross)

A l l earning assets carried on books of head
office*
Jan-l-March 31

Current expenses:
Salaries
$2,113
4
Other operating expenses
1,57©
F . R. Currency
1,915
Furniture and f i x t u r e s — —
38
17767
m x , (Transit
Total
(Other
3,875
Ratio of t r a n s i t department expenses to current
expenses exclusive of cost of F.R. currency

$5,6U2

A p r i l 1-June 30

$2,11^
2,101
2,177
32
2,171
M53

$6,1*2^
S1*1^

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

i
Branch carries no deposit accounts. Average cash balance, based on
Friday night f i g u r e s , f o r periods - .
January 1 to March 31, 1919 - - $913»790*0O
A p r i l 1 to June 30, 1919
752,993-00

Me^ber_banks2_ balancesjvith head_office
~

NovemberfS•
Reserve balance

State bank and trust company members
A l l member banks - -

$407,01^
k 9 2&k $ 6k5

On March k the reserve balances of State bank
and t r u s t company members w i t h the head o f f i c e
aggregated
.
and payments account c a p i t a l stock

Payment a / c
c a p i t a l stock

$^3,600
3^3,650

$462,498
44,500

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Branch carries no earning assets.
Applications f o r discount are forwarded to head o f f i c e f o r f i n a l action.




Jacksonville - 3 0 CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled daily
during periods January l 6 to A p r i l 15, and A p r i l l 6 to July 15, 1919•
Jan+l6~April 15
Number
Amount
Items d r a m on banks inr branch c i t y
Items drawn on banks i n head o f f i c e c i t y ,
forwarded d i r e c t to drawee bank
Items forwarded to head o f f i c e
Items forwarded to other branches i n this
district
Items drawn on banks i n t h i s d i s t r i c t
outside of F»R« bank and branch c i t i e s Items drawn on banks i n other F« R«
districts:
Forwarded direct to drawee bank — - Forwarded to other F*R»barite or branches
Items drawn on Treasurer of United States

A p r i l l 6 - J u l y 15
Number
Amount

$55^,7^2

1,167

64

24,319

76

60
353

88,806
169 ,534

3U
574

~ .
U7,832
107.639

4,626

TOTAL

1,106

1,247,699

5,^2

1,273,126

13
3,030

$559,326

37,071
.
.
9,666
22- .. J1&.324
.
400,432 3,332
440,934

CURRENCY RECEIPTS AND SHIHJENTS: Monthly average f o r periods Jan-1 to March 31,
and A p r i l 1 to June 30, 1919*
x
( I n thousands of d o l l a r s * )
Jan.l-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch Total
Branch Branch T o t a l
City
City
City
City
Currency received From member banks
From non-member banks

Currency shipped or delivered To member banks
To non-member banks
Total-Excess shipments
Excess r e c e i p t s - - -




-

233
6

332
6

1,795
-

201
34

1,996
34

99

Total

99
-

239

338

1,795

235

2,030

* 1,962

277

2,239

lt3S9

525

1,914

-

6

6

~

~

1,962

283

2,245

1,389

525

1,9^

a , 863

*
44

. v
1,907

290

116

-

.,,,

"

-29-

SAVANNAH AGENCY
of the
FEDERAL EE SERVE BAM OP ATLANTA.
Opened f o r business
PERSONNEL:

February 4 , 1919.

Manager ahd Assistant Manager1.

TERRITORY ASSIGNED:

C i t y of Savannah, Georgian

POWERS AND FUNCTIONS
EXERCISED BY AGENCY:

J

Services rendered by the Savannah Agency are a t present l i m i t e d to 1.

Receipt of currency from Savannah member banks f o r
immediate c r e d i t and payment of currency to Savannah
member banks against imnediate debit to t h e i r reserve
accounts on the books of the Atlanta Bank,

2.

Die custody of documents pledged as c o l l a t e r a l to
b i l l s forwarded by Savannah member basks to Federal
Reserve Bank o f A t l a n t a for rediscount.
funds and securities of the agency are kept
i n the vaults of the Citizens and Southern.flank:, the
Savannah Bank and Trust Company and the National Bank of
Savannah.

CURRENCY RECEIPTS
AND SHIPMENTS:




Received.
March
April
Itay
Jtrae

1919
1919
1919
1919

Total

41,016,000
935,000
939,000
995.000
3,885,000

Shipped.
^608,500
759,000
740,000
760.000
2,887,500

-20DEEHOIT BBANCH
of the
FBD3&&L I&SaMii E.IHK OP CHICAGO
Opened f o r business

DIRECTORS;

March 18, 1918.

F i v e , including the manager.

Meetings - Tuesday preceding 4th Friday

i n each month.
EXECUTIVE COMMITTEE:
PEHSOMEL:

H i l l Board of D i r e c t o r s .

Three o f f i c e r s and 40 employes (May 23, 1919)

3ERRIT0RY ASSIGNED:
MEMBER BAMS I N
BRANCH TERRITORY:

2he d i t y o f D e t r o i t , including Highland B u k .

National
At opening of
branch
March 4 , 1919

NUMBER
Non-National

3
3

11
11

CAPITAL AND SURPLUS
National
Non-National
$10,500,000
11,000,000

$23,710,000
25x018^770

PAR LIST:
Number of non-member banks on par l i s t
At opening of branch
July 15, 1919 -

- - - -

Stotal number of non-member banks i n branch t e r r i t o r y
.July- 15, 1919, not on par l i s t

7
:

5
0

POViZERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks* C a r i i e s no deposit accounts. Proceeds of rediscounts
and deposits of currency with Branch are immediately a v a i l a b l e as
reserves on the books of the head o f f i c e .
- Government. Carries no Government deposits. Redeems c e r t i f i c a t e s ,
pays Government checks, e t c * , but closes out balance through head
o f f i c e d a i l y * Receives deposits from Collector of I n t e r n a l Revenue*




Detroit - 3 1 Discount and oqen market operations - Carries on i t s own books paper r e discounted for D e t r o i t member banks. Applications for loans
from other banks i n 7th D i s t r i c t are transmitted to head o f f i c e
for approval- Open market purchases are made upon instructions
from Chicago. P r i o r to Feb. 20, 1919 i t was the practice of
Branch to carry acceptances purchased by i t on i t s own books.
Since tliat date acceptances purchased are transferred to investment account of the head o f f i c e Clearing and Collection Department - Receives f o r collection checks and
other items drawn on D e t r o i t banks only. Handles about % 100
items d a i l y .
Clearing House - Branch has same p r i v i l e g e s and i s subject to same
penalties as other members of Clearing House Association, but
paye'nq dues and has no vote.
Direct Routings - The Head Office has recently requested a l l banks
having a s u f f i c i e n t volume of items drawn on D e t r o i t , including
commercial collections, to route same direct to Branch.
Currency Receipts and Shipments - During the s i x months ending June 30 currency receipts of t^e Branch were about one fourth, and currency
.shipments about one h a l f those of the parent bank.
Telegraphic Transfers - Makes telegraphic transfers for
ber banks•
M a i l transfers bought, during year ending
March 15, 1919
Wire transfers bought during year ending
March 15, 1919
Sold

the account of mem-

$62,119,000
206,8^7,000
312,37^,000

P r i v a t e Wire System - Branch l i n e between Chicago and D e t r o i t ; monthly r e n t a l
$217 •SO* Salaries p a i d operators for January 1919 $233.3^.




Detroit -32-

EABNINGS AND EXPENSES
Monthly average for periods JamaxJT 1 to March 31, and A p r i l 1 to June 30*1919January 1 - March 3 1
Earnings (Gross)

A p r i l 1 - June 30

$48,185

Current Expenses:
Salaries - Other operating expenses
F.R. currency
Furniture and f i x t u r e s motAl
(Transit (Other
Net earnings
Ratio of net earnings to pa3L4-in c a p i t a l
of banks assigned to Branch t e r r i t o r y
Ratio of t r a n s i t department expenses to
current expenses, exclusive of cost of
F.R. currency
. .

$62,253

$5> 265
2,843
178
4*37
1,633
7,090.MJ£L

$5,637
2,635
%053
l44
1,127
12,3^2 $rs.469

$39,462

$48,784

45.2$
19-1$

,

13*4$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Branch carries no deposit accounts. Average daily amount due to Head
O f f i c e , based on Friday night figures* for periods
January 1 to March 31, 1919
$2*1,325,1
A p r i i 1 to June 30, 1919
32,277,!

VOLUME OF PABSR DISCOUNTED AND BOUGHT: Monthly averages for periods January 1
to March 31, and A p r i l 1 to June 30, 1919*
Discounts for member banks:
Jan 1-March 3 1
A p r i l 1-June 30
National banks . . . . . .
. $ 9,466,667
$11,113,500
State banks and trust companies
30,063,85b
45,131,140
Acceptances bought i n open market
158r3TS
- ...
Total discounted and purchased b i l l s
39,628,855
56,244,640
Average d a i l y b i l l holdings




14,035,000

18,018,423

Detroit - 3 3 -

CEEARIMi AND COLLECTION DEPAEGSOTT: Average number and amount of items handled
daily during periods January 16 to A p r i l 15, and A p r i l 16 to July 15,
1919.
J a n • l 6 - A p r i l 15
A p r i l l 6 - J u l y 15
Number Amount
Number Amount
Items drawn on banks i n branch c i t y
3 , 5 * 6 $3,215,267 4,679 $2,921,895
Items drawn on banks ixi head o f f i c e c i t y , ^
forwarded direct to drawee bank
Items forwarded to head o f f i c e
58
47,840
151
173,789
Items drawn on banks i n t h i s d i s t r i c t
outside of F.H. bank and branch ^ c i t i e s - 3
2,933
9
2,829
Items drawn on banks i n other F.B. d i s t r i c t s
Forwarded d i r e c t to drawee bank - - . — Forwarded direct to other F*IL banks or
branches
*»
•
«
*
*»
Items dram an. Treasurer of U.S.
l.Uqq
Q2U.680
21
739,76?
TOTAL

5,106

3,190,720

6,360

3,828,276

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 31,
and i p r i l 1 to June 30, 1919.
( I n thousands of dollars)
Jan^l—March 3 1
In
Outside
Branch Branch
City
City
Currency received From member banks
Item non-member banks . -

Total

9,3^8
8

10,409
J l4

42
-

.
10,451
14

9,342

14

9,356

10,423

^2

10,465

3,95^
-

10,456
-

8,561
1

5,020
, ~ •

13,581
i-

3,95**

10,^56

8,562

5,020

13,582

4,97 8

3,117

- - - 6,502

Excess receipts




Outside
Branch
City

^
-»

Currency shipped or delivered To member banks - - - ~ 6,502
To non-member banks - *

Excess shipments-

In
Branch
City

June 30

9*33*
8

Total--

Total

Total

April

2,s4o
-

-

3.9*»

1*100

l,S6l
-

LOUISVILLE BRANCH
of the
PEDERAL RESERVE BANK OP ST. LOUIS.
Opened for business
DIRECTORS:

Five, including the manager.
day of each month*

DISCOUNT COMMITTEE:

PERSONNEL:

December 3, 1917 •
Meetings Friday preceding f i r s t Wednes-

Applications f o r discount are checked by Manager and Cashier
and immediate c r e d i t given, the action taken being r a t i f i e d
by Discount Committee once a week.

tZhree o f f i c e r s and 36 employes (June 24, 1919)

TERRITORY ASSIGNED:

Ohat p a r t of Kentucky located i n the 8th
D i s t r i c t and the following 13 counties
Clark
Harrison
Crawford
Jackson
Dubois
Jefferson
Floyd
Lawrence
Orange

Federal Reserve
i n Southern Indiana:
Perry
Scott
Switzerland
Washington

MEMBER BANKS I N
BRANCH TERRITORY:
NUMBER
National
Non-National

f

At opening of
branch
June 24, 1919

90
90

2
6

CAPITAL AND SURPLUS
National
Non-National
^17,609,257
14,959,467

4 775,750
2,160,000

PAR LIST:
Number of non-member banks on par l i s t A t opening of branch
July 15, 1919
Total number of non-member banks i n branch t e r r i t o r y
July 15, 1919, not on par l i s t - ~ -

112
170

176

POWERS AND FUNCTIONS EXESCISED BY BRANCH:
Deposits - Member banks. Carries reserve and c l e a r i n g accounts of banks and
t r u s t companies assigned to deal w i t h branch.
- Government*




Carries Government deposits; authorised l i m i t $300,000.

Louisville

-35-

Discount and Open Market Operations - Receives and passes on applications
f o r rediscount of e l i g i b l e paper and transmits same d a i l y
to the Head O f f i c c , v;hich takes f i n a l action on following
dgy* Immediate c r e d i t is given on the "books of the branchClearing and Collection Department - Operates department for clearing and
c o l l e c t i n g checks and d r a f t s payable upon presentation ana
f o r c o l l e c t i o n of maturing notes and h i l l s . Handles about
7,400 items d a i l y .
Gold Settlement Fund - Telegraphs the Federal Reserve Board
d a i l y , for settlement through the Gold Fund, amounts credited
to Gold Settlement Fund - Suspense account other F - R- Banks.
Clearing House - No membership i n Clearing House Association*
Currency Receipts and Shipments - Currency r e c e i p t s f o r the p e r i o d January 1
to June 30 were about one f o u r t h those of the head o f f i c e , and
about equal to those of the Memphis branch;
Telegraphic Transfers - Authorized to make wire transfers f o r member and
clearing member banks i n branch t e r r i t o r y ; also to recoivo and
transmit ty wire to the parent bank, for approval and advice
of r a t e of discount, a l l applications of member and clearing
member banks to buy or s e l l m a i l t r a n s f e r s .
P r i v a t e Wire System - On branch l i n o S t . Louis—Louisville; monthly r e n t a l
of l i n e $220*55* Salaries* p a i d during January to operators on
branch l i n e service a t St* Louis-Louisville-Memphis and L i t t l e
Rock, $%43U*38. 1
IANK PREMISES:




Occupies bank b u i l d i n g formerly occupied l y National Bank of
CcQcaerce located a t N* W* Cor., of F i f t h and Market Sts*, which
has been purchased f o r permanent quarters •

Louisville - 3 6 -

%

E.'-M.TKGS AMD EXPENSES
Monthly average f o r periods January 1 to March 31, and A p r i l 1 to June 30, 1919Janiaxy 1-March 31
Earnings (Gross)- - - — Current Expenses:
Salaries
Other operating expenses
F . E . currency
Furniture and f i x t u r e s
(Transit
m ^ ,
T o t a l
(Other
Net earnings

- -

•

A p r i l 1-June 30

$3,01+7
$2,95j+
2,304
- - - 3.013
1,718
L551
- - -

Ratio of net earnings to p a i d - i n capital
of barks assigned to branch t e r r i t o r y
Ratio of earnings less operating expenses
to p a i d - i n c a p i t a l of banks assigned
to branch t e r r i t o r y
Ratio of t r a n s i t department expenses to
current expenses exclusive of cost of
F* R. currency - ~
-

$23,12**

$8,271

$3,850
2,722
3.1W
591
27*62
LJi+1 $10,303

776

12,881

'
8.0$
32*7$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, based on Friday night figures for period January
1 to March 31, and A p r i l 1 to June 30, I919.
Jan-1-March 31
A p r i l 1-June 30
Member banks1 reserve account
$ 9,470,428
$9,309,386
U» S. Government - general account
300,000
300,000
Due to head o f f i c e - - (b) 9,112
Deferred a v a i l a b i l i t y items
4,837,756
5,206,293
Other deposits
22,633
23.447
Deductions from gross deposits:
Due from head o f f i c e (a)3,68^,442
Uncollected items
7,040,701
6,462,711
(a) Maximum
Maximum
(b) Maximum
Maximum

amount
amount
amount
amount

due from head o f f i c e
due to
head o f f i c e
due from head o f f i c e
due to head o f f i c e

Member^banks^ balances^
~
~ "

State bank and t r u s t company members,
March 4, 1919 - A l l member banks, March 31, 1919 - r



6,900,828
1,284,801
2,950,003
2,054,911

March 14, 1919
January 3> 1919*
A p r i l 4 , 1919
June 20, 1919*

Reserve balance
with
branch
$870,996
9,569,214

Payment - a/c
ca^itol stock
w i t h head o f f i c e
$65,300
575,460

Louisville - 3 7 VQLUME OF PAPER DISCOUNTED AND BOUjHE: Monthly average f o r poriods January 1 to
March 31, I919 and A p r i l 1 to June 30, 1919*
Jan.l-Mar.31

Apr. 1-June 30

$16,637,312
l65,%7

$33,673,^09
2,101,000

Discounts for member banks National banks - State banks and trust companies
Acceptances bought i n open market -

"307 T 693

Total discounted and purchased b i l l s

1QT 767_

17,110,>+7*
2,^,878

Average daily b i l l holdings

35,725,176
6,808,711

CLEARING AND COLLECTION DEPARTMENT: Average number r i l 15 and Aofr iitems to July 1 5 , ^ l ? daily during periods January 16 to A p and amount p l 16 handled
J a n - l 6 - A p r i l 15
A p r i l l6-July 15
Number Amount
Number
Amount
2,099
$ 2 , 5 1 5 , ^ 1 2,319 $2,227,692

Items drawn on banks i n branch c i t y
Items drawn on banks i n head o f f i c e c i t y
. forwarded direct to drawee barik
~
x
Items forwarded to head o f f i c e
3
Items forwarded to other branches i n this
1
district. Items <toawn on banks i n t h i s d i s t r i c t
outside of F-R. bank and branch c i t i e s .
5,017.
Items .drawn on banks i n other 1T,R* d i s t r i c t s
Forwarded d i r e c t to drawee bank ~ ~ —
~
Forwarded to othsr F.H. banks or branches *05
x 6
Items drawn on Treasurer of U,S.
9
TOTAL -

-7,^31

~

•
5,589

19

.

1

33

~
13,
42

527,951 5,2bb

9
.
5*3,89°

.
~
30,384
95
119r 293 _ 2 S 9

X
g,l97
1*5,350

3,198,6917,959

2,993,68^

cc

-

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average f o r periods January 1 to March 31,
and A p r i l 1 to June 30, 1919?
January 1-March 3 1
A p r i l 1-June 30
( I n thousands of d o l l a r s . )
In
Outside
In
Outside
Branch Branch Total
Branch Branch
Total
City
City
City
City
Currency received Frcm member banks - - - 1,957
^
2,003
^,276
2lU
^90
From non-member banks — - *
3
_
\
5
13
Total
r - 1,957
2,006
^,28^
219
\503
Currency shipped or delivered:
To member banks
To non-member banks — - Total--Excess receipts
Excess shipments



—

1,1*71
7
1,^78
i*79
-

138
2
1*K)
91

1,609
9
1,618

1,336

78

1,3^

S3

13
1,^27

385
-

2,9^
-

136
-

3,076
-

'

-38-

UmSSlS B A C
BMH
of the
fiEBEB&l 3ESSRV3 BANK OP ST*. LOUISOpened for business ~ *
BIKEC'JQBS:

September 3, 1915

Five, including the manager. Meetings - Friday preceding f i r s t
V&dnesday of each montl^.

BI^jCOTZUT COMMUTES:

£EKSOIIKEI»s

Applications f o r discount are.checked by Manager and Cashier
and immediate c r e d i t given f action taken being r a t i f i e d by
Discount Conanittee once a veelu

Four o f f i c e r s and 45 employee (June

OEHBIflOHr ASSIGNED:

1919)

A l l c i t i e s i n Mississippi and Tennessee* included i n tlie 6th
Federal Reserve d i s t r i c t , (except i n Obion County and the
c i t i e s of Paris and Martin* !fcnru») - and the following c i t i e s
i n Arkansas:
Cotton Plant
Forest C i t y
Helena
Marianna
Marked Tree

M M E B N S IN
E BR A K
B A C ERR! TOST;
RNH
gapi m and

MIMT

National
At opening of
branch
June 24, 1919

Non-National

34
35

5
5

National
.^5,418* £26
5*977 f 876

SUSBW&

Non-National
j5,9G01000
6,475,000

PAR U S T :
Number of non-member banks on par l i s t September 15, 1918
July 15, 1919 - - Total number of non-member banks i n branch t e r r i t o r y
July IS* 1919 1 not on par l i s t - - - —
-

-

38
87

257

POWERS AND HffltmURS EXJjECISED BY BPAKSJ:
Deposits - Member banks. Carries reserve and clearing accounts of banks and
trust companies assigned to deal with branch*
- Government,




Carries Government deposits; authorised l i m i t vl00,000.

V

Memphis

-39-

Discount and open market operations - Receives and passes on applications
f o r rediscount of e l i g i b l e paper and transmits same daily to
the head o f f i c e which takes f i n a l action on following day.
Immediate c r e d i t i s given on the books of the Branch*
Clearing and Collection Department - Operates department for clearing and
c o l l e c t i n g checks and drafts payable upon presentation, and
f o r c o l l e c t i o n of maturing notes and b i l l s • Handles about
U r S00 items d a i l y .
Gold Settlement Fund - Telegraphs the Federal Reserve Board daily
f o r settlement through the Gold Fund, amounts c r e d i t e d to Gold
Settlement Fund-Suspense account other Federal Reserve banks •
Clearing House ~

No membership i n Clearing House Association*

Currency Receipts and Shipments - During the 6 months ending June 30 currency
receipts and shipments were about o n e ~ f i f t h of those of the
parent bank*
Telegraphic Transfers - Authorized to make wire transfers for member and
clearing member banks i n branch t e r r i t o r y ; also to receive and
transmit by wire to the parent bank, for approval and advice of
r a t e of discount,
applications of member and clearing member
banks to bty or s e l l m a i l transfers*
«
P r i v a t e Wire System:- On branch l i n e between
Rock, monthly r e n t a l of e n t i r e
during January to operators on
L o u i s v i l l e , Mmphis and L i t t l e
BANK PREMISES;




St*. Louis, Memphis and L i t t l e
branch l i n e $3bl«67* Salaries paid
branch, l i n e service a t St* Louis,
Rock,

Occupies Quarters and has vault space i n the Mercantile National
•BAnfc building, monthly r e n t a l $516.66.

Memphis -UOEARNINGS ^ND EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1919*
Jan.l-March 31
Earnings (Gross)

A p r i l 1-J-une 30

$40>17

Current expenses:
Salaries
Other operating expenses
F . H. currency
Furniture and f i x t u r e s —

$^0,797

$5,527
3,83**
28^
-

$5,365
2
»9^7
5,930
1*592

{ S E T . : : : : : : : : : : : :

l i s

Net earnings

30,772

Ratio of net earnings to p a i d - i n c a p i t a l of
hanks assigned to "branch t e r r i t o r y - - —
Ratio of t r a n s i t department expenses to
current expenses exclusive of cost of
F . R. currency - -

lass.
2^,965

101.^
.
33-0$

c

*

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, based on Friday night f i g u r e s , for periods January
1 to March 31,and A p r i l 1 to June 30, 1919«
Jan.l-March 31
A p r i l 1-June 30
Member banks' reserve account
$5»15&95S
$^,807,722
Due to head o f f i c e
- (a)12,258,151
(b)12,ll6,t>7*
U. S. Government - general account
88,556
99,991
Deferred a v a i l a b i l i t y items
.1,581,226
2,Obi,335
Other deposits
18,359
19,32b
Deductions from gross deposits: •
c
Uncollected items
3,072,263
2,7°5>881
( a ) Maxinum
Minimum
( b ) Maximum
Minimum

amount
amount
amount
amount

due
due
due
due

Member bank balances -

to
to
to
to

head
head
head
head

office
office
office
office

-

-

-

State bank and t r u s t company members Mbh.U
A l l member banks March 31, 1919




16,367,30^
9,297.^5
1^,75^.684
9,1+09,902
Reserve balance
with
Branch
$2,211,952
K018,856

January 10, 1919
February 14, 1919
April^.25, 1919
June b, 1919
Payment
a/c
capital stock
w i t h head o f f i c e
$193,500
3°?, 180

Memphis - 4 l VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average f o r periods January 1 to
March 31, and A p r i l V to June 30, 1919Jan.l-Mar.31
Apr. 1-June 30
Discounts f o r member banks National banks
- $ 3,714,491
$4,155,022
State banks and trust coiqpanies
15,731,916
20,877,725
Acceptances bought i n open market

42,171

Total discounted and purchased b i l l s - -

^3>339

19,488,57*

25,066,136

Average daily b i l l holdings
10,968,188
11,368,836
CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during period January l 6 to A p r i l 15, and A p r i l l o to July
15, 1919.
J a n * l 6 - A p r i l 15
A p r i l l 6 - J u l y 15
Amount
Number
.Amount
Number
Items drawn on banks i n branch c i t y
Items drawn on banks i n head o f f i c e c i t y ,
forwarded direct to drawee banks - - —
Items forwarded to head o f f i c e - - r
Items forwarded to other FJEU branches i n
this d i s t r i c t
Items drawn on banks i n this d i s t r i c t
outside of F.R*bank and branch c i t i e s t terns drawn on banks i n other F. R.
.districts:
Forwarded d i r e c t to drawee banks
Forwarded to other F»R*banks or branches
Items drawn on Treasurer of U. S. - — -

1,802 $1,042,813

$988,51+?

38

9,631

4l~

5,4co

12

2,^36

5

2,837

1.875

211,853

2,311

240,433

15
689

if, 810
53,556

23
70$

9,309
124,048

4,229 1,270,835

Total

1,600

M91

1,524,840

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January X to March 31,
1919

• ^

A p r U

1

10

3Hln
^ . " i f t t S a
Outside
In
Outside
In
Total
Branch Branch Total Branch Branch
City
City
City
City

Currency received From member banks
- - - - - - -•
From non-member banks

2,563
s?

217

2,780
8?

2,521
11?

112

2,633
118

.

2,646

217

2,863

2,634

117

2,751

Currency shipped, or delivered To member 'banks - - - — - To non-member banks

843
11

28
z.

871
11

1,957
12

76

2,033
12

854

28

882

1,969

76

2,045

1,792

189

1,981

665

41

706

Total

Total
Excess receipts



-

•

—

-42UT2LE ROCK BRANCH
o f the
FEDERAL RESERVE BANK OF ST* LOUIS.
Opened f o r business

DIRECTORS:

Five, including the manager*
day of each month*

DISCOUNT COMMITTEE*.

PERSONNEL:

* - January 6 , 19X9*

Meetings - Friday before f i r s t Wednes-

Applications f o r discounts are checked by Manager and Cashier
and immediate c r e d i t i s given, the action taken being r a t i f i e d
by Discount Committee once a week*

Three o f f i c e r s and 23 employees (June 24, 1919}

TERRITORY ASSIGNED:

A l l c i t i e s i n Arkansas except those assigned to Memphis and
St* Louis

MEMBER BANKS I N
BRANCH TERRITORY:
National
A t opening of
branch
June 24, 1919 - -

39
39

NUMBER
Non-National
6
13

CAPITAL AND SURPLUS
National Non-National
$4,419,000
3,862,778

,£2,275,000
3,305,500

PAR LIST;
Number of non-member banks on par l i s t
A t opening of branch
July 1 5 , 1919 Total number of non*<member banks i n
branch t e r r i t o r y July 15, 1919 not on
par l i s t

30
79

242

POWERS AND FUNCTIONS BXEBttlSED BY BRANCH:
Deposits - Member banks* Carries reserve and c l e a r i n g accounts of the backs
and t r u s t companies assigned to deal w i t h branch*




- Government*

C a r i e s Government deposits; authorized l i m i t #200,000

i

V

l i t t l e Bock - 4 3 •

Discount and open market operations - Receives and passes upon applications
f o r rediscount of e l i g i b l e paper and transmits same d a i l y to
head o f f i c e Tflhich takes f i n a l action on following day.
Immediate c r e d i t i s given on the books of the branch.
Clearing and Collection Department - Operates department f o r the clearing and
collection of checks payable upon presentation* also f o r the
c o l l e c t i o n of maturing notes and b i l l s . Handles about 5*200
items d a i l y .
^3.<^&tttLemeiit Fund_- Telegraphs the P. B. Board d a i l y for
settlement through the Gold Pond* amounts credited to Gold
Settlement Fund - Suspense account other Federal Reserve banks.
Clearing House * No membership i n Qlearing House Association.
Currency Receipts and Shipments - Currency receipts and shipments during the
six months ending June 30 were about one tenth of those of the
parent bank.
Telegraphic Transfers - Authorized to make wire transfers f o r member and
c l e a r i n g member banks i n branch t e r r i t o r y * also to receive and
transmit by ..wire to head O f f i c e , for i t s approval and advice
of r a t e of discount* applications of member and clearing member
banks to buy or s e l l mail transfers.
P r i v a t e Wire System - On branch l i n e between St.Louis* Memphis and L i t t l e Rock,
monthly r e n t a l of e n t i r e branch l i n e $361*67. Salaries paid
during January to operators on branch l i n e service at St.Louis,
L o u i s v i l l e , Memphis and L i t t l e Rock9 $434.38.
BANK PREMISES:




Rent ^300 per month.

L i t t l e Rock - 4 4 EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1919*
Jan.l-March 31
Earnings (Gross)

$12,291

Current expenses:
Salaries
Other operating expenses
F . R« currency
Furniture and f i x t u r e s
(Transit
Total
(Other
Net. earnings

A p r i l 1-June 30

- -

$3,589
2,97&
2,067
325
2,290
6,667

-

i$19,600
$3,172
1,637
2,373
7,249
3,872
10,559

8^957
3,934

Ratio of net earnings to p a i d - i n c a p i t a l of
hanks assigned to branch t e r r i t o r y
Ratio of t r a n s i t department expenses to
current expenses, exclusive of cost of
F; R* currency

1M31
5A&S

22.5$

33*2$

32.1$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS: Average d a i l y deposits, based on Friday night tigures, for periods
January 1 to March 31, and A p r i l 1 to June 30, 1919Jan.l-March 31
A p r i l 1-June 30
Member banks1 reserve account
$2,689,123
$3,167,591
U. S. Government - general account
192,5*3
200,000
Due to head o f f i c e
(a)4 J 203,54l
0>) 5,208,581
Deferred a v a i l a b i l i t y items
1,222,796
1,538,377
Other deposits
36.384
7,816
Deductions from gross deposits:
Uncollected items
2,356,710
2,690,649
( a ) Maximum
Minimum
(b) Maximum
Minimum

amount
amount
amount
amount

.due
due
due
due

to
to
to
to

head
head
head
head

office
office
office
office

-

-

6,676,397
932,6§1
5,617,620
4,691,062

March 21, 1919
January 10, I919
June 13, 1919
A p r i l 25, I919

Member banks_balances Reserve balances
with
Branch
State bank and t r u s t company members
March 4, 1919
:
A l l member banks March 31, 1919

$1,297,051
2,780,649

Payment - a/c
c a p i t a l stock
w i t h head o f f i c e
$

84,070
213,090

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 1919Jan.l-March 31
A p r i l 1-June 30
Discounts for member banks:
National banks
$4,887,087
$4,671,658
State banks and trust companies
1,895,875
3,861,853
Acceptances bought i n open market
Total discounted and purchased b i l l s - 6,782,9b2
8,533,511

Average d a i l y


b i l l holdings - - -

3,512,2a

5,284,340

L i t t l e Rock - 4 5 CLEARING AND COLLECTION DEPARTMENT: Average number and. amount of items handled
d a i l y during periods January 16 to A p r i l 15, and A p r i l 1& to July 15, 1919.
J a n - l 6 - A p r i l 15
Number
Jtoount
Items drawn on banks i n branch c i t y
Items drawn on banks i n head o f f i c e city,-t
forwarded direct to drawee bank
Items forwarded to head o f f i c e
Items forwarded to other branches i n this
district
Items drawn on banks i n this d i s t r i c t
outside of F.R. bank and branch c i t i e s Items drawn on banks i n other F . R.
districts:
Forwarded d i r e c t to drawee "bank — —
Forwarded to other F.R. hanks or brandies
Items d r a m on Treasurer of United States

A p r i l l 6 - J u l y 15
Number
Amount

l,l60

$522,100

1,808

327

114,795

288

146

44,344

jb

22,301

2,354

2^5,599

3,199

294,782

42,037
45.,368

73
299

~
26,135
104,294

1,014,843

5»1^1

1,073,%2

220
284

TOTAL"

$555,09°
70,890

CURRENCY. RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 31,
.tod A p r i l 1 to June 30, 1919,,
.
.
.
%
*
( I n thousands of d o l l a r s . )
Jan.l-March 31
A p r i l 1-June 36
In
Outside
In
Outside
Branch Branch
Total Branch Branch T o t a l
City
City
Cfcty
City

T o T L S S f S i :
- -1,5*7
From fton-member i a r i k s - - - - 47

is»
2

Currency shipped or delivered To member hanks
To non-member banks - - Total
Excess receipts




913
_i=i

1,758

Total

1,711
HI

93*

291
—2i

199
——

— 3*5

,

i.«g
—
1.279

<
21*
30
244
1.350

77
~
77
87

321,
1,*37

^

W

219

152

371

715

193

908

-46-

O AA B A C
MH R N H
of the
FEDERAL RESERVE BANK OF KANSAS CITY
Opened for busitoess

DIRECTORS:

Five, including Manager.

September 4 , 1917

Meetings Wednesday preceding the second

3hursday of each month.
DISCOUNT COMMITOEB:
PERSONNEL:

Manager and two Directors*

(Meets d a i l y except Saturday.)

Two officers, and 50 employes. (Dec. 31, 1916.)
Two o f f i c e r s and Acting Cashier and 60 employes (June 15, 1919.)

TERRITORY ASSIGNED:

Nebraska and Wyoming.

MEMBER BANKS I N
BRANCH TERRITORY:
NUMBER
National
Non-National
At Opening of
branch
A p r i l 1 , 1919

227
230

2
9V

CAPITAL AND SURPLUS
National
Non-National
$27,143,000
30,060,000

$

88,000
532,000

PAR I I ST:
Number of non-i smber banks on par l i s t At opening of branch
July 15, 1919

.—

- —

Total number of non-member banks i n branch t e r r i t o r y
July 15, 1919 i ot oh par l i s t

334
656
432

POWERS AND FUNCTIONS EXERCISED BY BRANCH;
penosits - Member batiks. Carries reserve accounts of banks assigned to deal
w i t h branch. Member banks, however, may remit to or with special
permission draw upon Kansas C i t y Federal Reserve batik or i t s
Denver branch f o r account of Omaha branch.




- Government.

$200,000

Branch carries Government deposits; authorized l i m i t

Qnaha

Discount and Open Market Operations - Branch rediscounts e l i g i b l e paper for member banks- To A p r i l 30, I919 the branch had purchased acceptances
i n open market for i t s own account- Since May 1st a l l purchases i n
open market are made for account and with the consent of the home
office.
Clearing and Collection Department - Operates Clearing Department f o r clearing
and collecting checks for banks i n i t s t e r r i t o r y or i n other parts
of the d i s t r i c t . Handles about 13,800 items d a i l y .
Gold Settlement Fund - Branch telegraphs F.R- Board daily for s e t t l e ment through Gold Fund amounts credited to Gold Settlement Fund Suspense account other F.R. banks.
Clearing House - Branch i s honorary member w i t h clearing privileges *
Reserve bank receives settlements d a i l y • Settlement among other
clearing house banks i s made i n manner acceptable t o c r e d i t o r ; banks*
Non-member items presented d i r e c t to such banks; settlement made
Iy checks on national banks which are presented for payment on the
following day*
Currency Receipts and Shipments - During the 6 months ending June }0 currency
receipts were about o n e - f i f t h and currency shipments about one-half
those of the head o f f i c e *
Telegraphic Transfers - Telegraphic transfers bought and sold a t p a r . M a i l
transfers purchased and sold on discount basis. Net earnings during
3 months ending March 31, 1919* $^,90^1*5.
P r i v a t e Wire System - On main l i n e - Chicago-Ctoaha-Denver-Salt Lake-SanFrancis co *
Also has branch line f r a n Kansas City to Cbaha f o r which a monthly
charge o f $175 i s made. Salaries paid operators i n January - on
branch l i n e Kansas City-Qoaaha/-Denver, $235*
BANK PREMISES: Occupies quarters and has v a u l t space i n Farnam Building; r e n t a l
$500 per month*




Omaha - 4 8 EARNINGS AND EXPENSES

Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1919
*

Jan.l-March 31

Earnings (Gross)

$67,573

Current expenses:
Salaries
Other operating expenses
F . R. currency
• Furniture and f i x t u r e s
"
, - (Transit - - Total

A p r i l 1-June 30

- -

(Other

*

$6,261
2,988
303
4l8
JJ&S
6,544

Net earnings

$70,9^7
$6,918
^'Pf
636
6l0

9,970

7,449

57,603

Ratio of net earnings branch i de i n i tcapital of
banks assigned to to p a t - r r o r y
Ratio of t r a n s i t department expenses to
current expenses, exclusive of cost of
R* currency -

11,872
59,075

76-6$
• ^
39-4$

35-4$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS: Average d a i l y deposits, based on Friday night figures, f o r periods
January 1 to March 31 and A p r i l 1 to June 30, 1919*
Jan.l-March 31
Member banks1 reserve account
U„ S, Government - general account
Due to head o f f i c e
Deferred a v a i l a b i l i t y items
Other deposits
Deductions from gross deposits:
Uncollected items
( a ) Maximum
Maximum
(b) Maximum
Minimum

amount
amount
amount
amount

due
due
due
due

to head o f f i c e from head officeto head o f f i c e to head o f f i c e -

MemberJsanksJ^ balances_~
~

State bank and trust company members
March 4, I919
A l l member banks March 31, 1919




$16,828,710
177,345
- -(a)3,871,788
2,935,924
58,978

A p r i l 1-June 30
$17,637,138
170,074
(b)3,370,034
3,226,015
41,369

-

3,994,578

4,366,617

-

7,660,440
305,S4l
7,433,654
231,908

February 7A919
March 7, I 9 I 9
June 13, 1919
May 16, 1919

Reserve balance
with
Branch

$297,705
17,085,543

Payment - a/c
capital stock
w i t h head o f f i c e

$16,050
915A50

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 1919.
Jarul-March 31 A p r i l 1-June 30
Discounts for member hanks National barks
- $29,29^,253
$36, 259,953
State banks and t r u s t companies - - oU,lJb6
267,098
Acceptances bought i n open market
(b) 221,667
T o t a l discounted and purchased b i l l s 29,610,38b
36,527,051
Average d a i l y b i l l holdings

17,277,308

(b) $665,000 purchased i n January.

18,529,l6l

None purchased i n February and March.

CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handle
d a i l y during periods January 16 to A p r i l 15, and A p r i l 1$ to^JulyJL5^ 1919'
Items drawn on banks i n branch c i t y - —
Items drawn on banks i n head o f f i c e c i t y ,
forwarded direct to drawee bank
Items forwarded to head o f f i c e
Items forwarded to other branches i n this
district
I t e ^ s drawn on banks i n this d i s t r i c t
outside of F.R»bank and branch c i t i e s Items drawn on banks i n other F. R.
districts*
Forwarded direct to drawee batik
Forwarded to other F.R.bariks or branches
Items drawn on Treasurer of United States

Number
2,3*6

Mount
$1,845,717

Amount
Number
$2,272,898 2,3*6

1+79

358,30*

39*

282,90$

367

82,035

308

61,825

8,503

1,0*9,938

7,795

839,565

935
1.215

592,013
144,4^6

597
1.644

436,1*1
39,67?

4,1499,684 13,084

3,555,827

13,8*5

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, 1919*
( I n thousands of d o l l a r s . )
Jan.l-Maroh 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
City
City
City
Currency received From member banks
- - - - - From non-member banks
To.tal

-

Currency shipped or delivered To member banks
To non-member banks - - - - -




-

M

1,182
1

966

2*7

1,183

1,30*
,
?

9H
1

8*5

1,756
1

299

1,307

912

845

1,757

225

146

628

57*

1,084
?

73
1

1,157

965

4

1

.1,087

7*

l,l6l

1,005

299

1,008
79 *
w

5*
mm

*

-50DEUVER BRANCH
of the
FEDERAL RESERVE BANK OP KANSAS CITSf.
Opened f o r business

DIRECTORS:

F i v e , including Manager.

DISCOUNT COMMITTEE:
PERSONNEL:

January 14, 1918.

Meetings - Second Ohursday of each month.

Manager and two D i r e c t o r s .

Two o f f i c e r s and 36 employes. (Dec, 31, 1916}
Two o f f i c e r s and 42 employes. (Jane 15, 1919)

5ERRIT0HY ASSIGNED: Colorado and the p a r t o f New Mexico i n the Tenth D i s t r i c t .
MMHF1B BANKS I N
BRANCH TERRITORY:
NUMBER
National
Non-National
A t opening of
branch
A p r i l , 1919

131
138

1
6

C A f i m AND SURPLUS
National
Non-National
$.8,239,750
19,757,800

^1,000,000
2,110,000

PAR LIST:
Number Of non-member banks on par l i s t At opening o f branch
July 15, 1919

J\J*

!

- -

111
18?

Total number of non-member banks i n .branch t e r r i t o r y
July 15, 1919 not on par l i s t

79

flOHSHS AND FUNCHONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries reserve accounts of banks assigned to deal
w i t h branch. Member banks, 'however, may remit to or with special
permission draw upon Kansas C i t y Federal Beserve bank or i t s Omaha
branch f o r account of Denver branch.




- Government*

Carries Government deposits, authorised l i m i t £200,000*

Eenver-51*Discount and 6pen Market Operations: - Branch rediscounts e l i g i b l e paper
for member banks but does not engage i n open market operations except subject to the order and for account of head,
office.
niflAiHng

H n i i f i ^ n n TVmn.rfar.flnt - Clears and collects checks for banks
i n i t s t e r r i t o r y or i n other parts of the d i s t r i c t *
Gold Settlement Fund - Branch telegraphs F* R„ Board d a i l y for
settlement through the Gold Fund amounts credited to Gold
Settlement Fund ~ Suspense account other F» R. banks.
Clearing House - Member of Clearing House Association but makes
no use of i t s f a c i l i t i e s * A l l items are presented direct to
and s e t t l e d by each of the member banks•

Currency Receipts and Shipments - Carries an adequate supply of Federal
Reserve notes to meet a l l currency requirements of banks i n
i t s t e r r i t o r y . Receipts and deliveries of currency during
the $ months ending June 30 were about one-fourth those of'
the parent bank.
Telegraphic Transfers - Bought and sold a t par. M a i l transfers purchased
and sold on discount basis. Net earnings on transfers bought
and sold during the- 3 months ending March 31, 1919, $12,513*72.
P r i v a t e Wire System - On main l i n e - Chicago-Omaha-Denver-Salt LakeSan Francisco.
BJSSK PREMISES:




I n t e r s t a t e Trust Company building, monthly r e n t a l , $U00.
(Includes use of v a u l t and f i x t u r e s * )

Denver

-52-

EARNINGS AND EXPENSES
Monthly average f o r periods January 1 to March 31, and A p r i l 1 to June 30* 19*9Jan.l-March 31
Earnings (Gross)

A p r i l 1-June 30

$35,458

Current expenses: #
Salaries Other operating expenses
F. R* currency
Furniture and f i x t u r e s
„
m
Total (Transit
.

_ _

(other

Net earnings

$3*879
3,046
302
603
5,384

7*830
27,628

$21,710

$4,270
3>1|1
460
813,
2,63$
6,035

I M L
13,036

#

Ratio of net earnitjgs to p a i d - i n c a p i t a l o f
banks assigned. r,o branch t e r r i t o r y - - —
Ratio of t r a n s i t department expenses to
current expenses exclusive of cost of
F. R» currency

51-3$
32.5$

32.1$

CHARACTER AND VOLUME OF BUSINESS HANDLED ,
DEPOSITS:

Average d a i l y deposits, based on Friday nigjit figures, for periods
January 1 to March 31, and A p r i l 1 to June 30, 1919 •
Jan.l-March 31

Member banks1 reserve account
U# S. Government - general account
Deferred a v a i l a b i l i t y items
Other deposits Deductions from gross deposits:
Due from head o f f i c e
Uncollected items ( a ) Maximum
Minimum
(b) Maximum
Minimum

amount
amount
amount
amount

due
due
due
due

from
from
from
from

head
head
head
head

State bank and trust company members
March ll, 1919
A l l member banks, March 31, I919




$12~505,707
96,138
1,510,809
14,386

$12,862,363
118,046
2,321,338
19,993

( a ) 1,621,933
2,277,537

(b) 6,188,965
3,072,585

- -

office
office
office
office

Member banks* balances -

A p r i l 1-June 30

-

3,6149,129
390,102
7,699»9 l *0
3,7^1,180
Reserve balance
with
Branch
$L,180,460
12,880,122

March 2?, 1919
February 20,1919
June 6 , 1919
June 20, 1919
Payment - a / c
c a p i t a l stock
w i t h head o f f i c e
$ 61,550
655,150

Denver - 5 3 VOLUME OP PAPER DISCOUNTED AND BOUGHT: Monthly average for peripds January 1 to
March 31, and A p r i l 1 to June 30, 1919.
A p r i l 1-June 30
Jan«l-March 31
Discounts for member banks $5.313,097
National banks
$9,71*.85*
680,927
State banks and trust companies - - 5°2,350
Acceptances bought i n open market - —
T o t a l discounted and purchased b i l l s 10,277,2045»99*» 0 2 *
*,366,3*0
Average d a i l y b i l l holdings. 7,820,759
CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items J 3 1 1 ^ ® 4
'daily during periods January l 6 to A p r i l 15, and A p r i l 1;6 to July 15,
Jaru:.o-April 15
A p r i l lb-July 15
Number
Amount
Number
Amount
2,112 $1,467,757
Items drawn on banks i n branch c i t y - - 2,032 $1,302,867
Items drawn on banks i n head o f f i c e c i t y ,
forwarded direct to drawee bank
216,710
165
*33»533
Items forwarded to head o f f i c e - - 127
Items forwarded to other branches i n t h i s
256,768
377
225,555
district
- —
—
299
Items drawn on banks i n this d i s t r i c t
7.288
493,9*2
6,702
577,*05
outside of F«R*barik and branch c i t i e s Items drawn on banks i n other F« R,
districts:
(a)
2,**5
(a)
*,535
Forwarded direct to drawee bank
21U.835
769
*55,787
791
Forwarded to other F«R*bariks or branches
7*.530
762
102,925
77?
Items drawn on Treasurer of United States
TOTAL

- -

10,726

3,102,607

U^73

2,726,987

( a ) A d a i l y average of less than 1 .
CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, 1919.
( I n thousands of d o l l a r s . )
A p r i l 1-June 30
Jan*l-March 31
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
Gity
City
City
Currlncy received From member banks
From non-member banks

1,168
- - - -

Total
Currency shipped or delivered To member banks
To non-member banks

kS

1
1,169
593

1,214
1

1*597

236

1,833
2

2

46

1,215

1,599

236

1,835

90

683

661

89

750

J 1

12

-

12

Total

605

90

695

678

89

767

Excess shipments
Excess receipts

564
-

44

520

921

1*7

1,065




-64EL PASO BRANCH
of the
FEDERAL RESERVE BANK OF DALLAS
Opened for "business
DIRECTORS:

l i v e , including the manager,

EXECUTIVE COMMITTEE:
PERSONNEL:

June 17, 1918.

Three, including tho manager.

Two o f f i c e r s and t h i r t y s i x employees.

TERRITORY ASSIGNED:
COUNTIES
ARIZONA
Cochise
Graham
Greenlee
Pima
Santa Cruz

NEW MEXICO
B e r n a l i l l o Lincoln
Luna
Chaves
Otero
Curry
Quay
DeBaca
Roosevelt
Dona Ana
Sierra
Eddy
Socorro
Grant
Torrance
Guadalupe
Valencia
Lea

TEXAS
Andrews
Brewster
Crane
Culberson
Ector
E l Paso
J e f f Davis
Loving
Martin _

Midland
Pecos
Presidio
Terrell
Reeves
Val Verde
Ward
Winkler

MEMBER BANKS' I N BRANCH
TERRITORY:

National
At opening of
branch - - -

NUMBER
Non-National

CAPITAL AND SURPLUS
National
Non-National

55

6

$7,096,000

$388,000

.1% 15th, 1919 - - 55

11

7i3^2",ooo

i,Uo9,ooo

Pi® LIST:'
Number of non-member banks on par l i s t At oponing of branch Bank
July 15, 1919
Total number of non-member banks i n branch t e r r i t o r y
July 15, 1919, not on par l i s t

- - 2 0
- - 55
25

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
De-posits - Member Banks. Carries reserve accounts of i^cuibor banks assigned
to deal w i t h branch- Government. Carries Government deposits: authorized l i m i t
$500,000.00.* Roccivos deposits f r a u collector of customs
and i n t e r n a l revenue collector and through transfer from
national banks for c r e d i t ' o f U* S. Treasurer; also through
sale of War Loan bonds and War Savings Stamps. Sends daily
report to Treasurer of tho United States.



E l Paso -55~
Discount and Open Market Operations - The branch engages i n the usual rediscount operations, member barikfe having the option of sending
their paper to the branch or to the parent bank.
Clearing and Collection Department - Branch maintains a department for the
clearing and collection of checks and drafts, also for the
collection of maturing notes and other cash and credit i n struments, Handles about.6,700 items d a i l y .
Gold Settlement Fund - Branch telegraphs F« R. Board daily for
settlement through Gold Fund, amounts credited to Gold Settlement Fund - Suspense account .other F. R. Banks.
Clearing House - Member of d i s t r i c t and local clearing house
without cost.
Currency Receipts and Shipments - Carries an adequate supply of Federal
Reserve notes to meet a l l currency requirements of banks i n i t s
t e r r i t o r y . Receipts and shipments during the 6 months ending
June 30 were about one fourth of those of the parent bank.
Bank Transfers - Drafts on other c i t i e s are purchased on discount basis* 5$
for time required to make collections* Net earnings on trans-*
fers bought and sold during the 3 months ending March 31, 1919,
$434.41.
Private Wire System - Branch l i n e from Dallas to E l Paso, monthly charge
:
$535767.
Salaries paid to operators during January on the
Dallas-El Paso l i n e , $235.
BANK PREMISES:




Occupies quarters and has vault space i n F i r s t National Bank
building, monthly rental $60.

E l Paso - 5 6 EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1919Jan-l-March 31
,$20,111

Earnings (Gross)
Current expenses:
Salaries
Other operating expenses
F . R. currency
Furniture and f i x t u r e s
( S S 2

A p r i l 1-June 30

1

$4,355
2V0g
-^g
""1+75

.

$4,527
2,657
251
2 257

—

! : : : : : : : : : : :

Net earnings

$31,793

7,321

-

12>790

Ratio of net earnings to p a i d - i n capital
of hanks assigned to branch t e r r i t o r y Ratio of t r a n s i t department expenses to
current expenses

5,17s

JJSL

24,35*

59-3$
^
P

33*8$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, based on Friday night figures, for periods
January 1 to March 31, and A p r i l 1 to June 30, 1919*
J an. 1-March 31
A p r i l 1-June 30
Member banks' reserve account .
$3,565,027
$3* 5^1,440
U„ S* Government - general account
24l,30b
289,777
Due to head o f f i c e
(a)l,64o,498
(b)6 f 093,244
Deferred a v a i l a b i l i t y iteais
1,458,934
1,881,598
Other deposits
9,236
5»754
Deductions from gross deposits:
Uncollected items - - - - 2,301,298
3,433,062
( a ) Maximum amount due to head o f f i c e
3*956,136
March 21, 1919
Minimum amount due to head o f f i c e
309,784
January 10, I 9 I 9
(b) Maximum amount due to head, o f f i c e
9*5^6,093
June 27, I 9 I 9
Minimum amount due to head o f f i c e
3,583,025
A p r i l 25, 1919

Member_banks^ balances^

State bank and trust company members
March 4 , 1919 - A l l member banks March 31, 1919

Reserve balance
wi th
Branch
- -

$400,l42
2,724,661

Payment - a / c
c a p i t a l s took
w i t h head o f f i c e
$ 42,350
262,530

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 1919*
Jan.l-Mnrch 31
A p r i l 1-June 30
Discounts for member banks National banks
$5,182,752
$11,159,428
State banks and trust companies
765,340
1,966,727
Acceptances bought i n open market — - Total discounted and purchased b i l l s
Average daily b i l l holdings



5,9^8,092

13,126,155

5,062,815

8,097,269

E l Paso - 5 7 CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
daily during periods January l 6 to A p r i l lp^sad A p r i l l 6 to July 15,1919Jan«,l6-April 15
Nuriber
Amount
Items drawn on banks i n branch c i t y
Items d r a m on banks i n head o f f i c e c i t y ,
forwarded direct to drawee bank
Items forwarded to head o f f i c e - —
Items drawn on banks i n this d i s t r i c t
outside of F.R.bank and branch c i t i e s - Items drawn on banks i n other F* R»
districts;
Forwarded direct to drawee bank
Forwarded to other F.R^banks or brandies
Items drawn on Treasurer of United States
TOTAL - - '

A p r i l l6-July 15
Number
Amount

1,015

$367,876

1,023

$425,816

331

82,564

4l3

97,186

3,445

357,176

3,913

422,740

309,113 ^ 922
JJ>'f§
1,192,&7& 7 >557

354,65.1
'-—ZiJgB
1,379,651

936
67319

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 3 1 ,
and A p r i l 1 to June 30, 1919( I n thousands of dollars)
JanU-March 31
A p r i l 1-June 30
In
Outside
I n . Outside
Branch Branch Total
Branch. Branch Total
City
City
City
City
Currency received From member banks
From non-members

JJ1

712

Total

Total
•Excess receipts
Excess shipments




•
'

612
31

218
2J

830
§8

331

l.Ufc

643

245

888

595
26

Currency shipped or delivered To member banks
To non-member banks

1,005
109

783

•

293
J5S

349
170

944
196

655
lb

355
l46

1>01°
162

621

519

1,140 .

671

501

1,172

162
-

~
188

~
28

7
256

7
284

~
26

-58?
SPOKANE BRANCH
of the
FEDERAL RESERVE BANK OF SAN JSIANCISCO
Opened for "business - - July 26, 1917DIRECTORS:

Five, including Manager.
Tuesday of each month.

DISCOUNT COMMITTEE:
PERSONNEL:

Meetings Friday following the f i r s ' t

Thrco, the manager and two other directors.

Two officers and 36 employes (May 31, 1919-)

TERRITORY ASSIGNED:

Tho following countics i n tho States of Washington and
Idaho, rospectivoly:
Washington
Adams
Douglas
Klickitat
Stovcns
"Asotin
Ferry
Lincoln
Walla Walla
!
Bon ton
Franklin
Okanogan
Whitman
Chelan
Garfield
Pond O'Roillc Yakima
Columbia Grant
Spokane
Idaho
Benewah Boundary
Kootenai
Lewis
Bonner
Clearwater Latah
Noz Porco
Shoshone
Idaho

MEMBER BANKS IN B / S C
RJ F H
TERRITORY:
NUMBER
National
At opening of
branch
Juno 1, 1919

60
59

Non-National
23

CAPITAL AND SURPLUS
National
Non-National
$7,997,300
8,067,200

$2,515,750.

PAR LIST:
Number

of non-member banks on par l i s t At opening of branch July 15, 1919
:

Total number of non-member banks not on par l i s t
July 15, 1919

193
162
11

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member Banks* Carries reserve and clearing accounts of banks
assigned to deal with branch.




- Government* Carries Government deposits and pays warrants,
coupons, e t c . Authorized l i m i t $200,000* Report i s made
daily to Treasurer of United States•

Spokane -59Discount and open 'market operations - Rediscounts e l i g i b l e paper for member
banks f Applications for discount of commercial paper are
acted upen ly acting manager and one or two members of Discount Ceranitioo, credit being given subject to approval of
f u l l Discount CcaHiitto'o* Kotos collateralod by U. S# Securities are passed upon immediately by acting manager, sub-,
j o e t to f i n a l action by f u l l Discount Committee. Branch engages i n open market operations subject to orders and for
account of head o f f i c e .
Clearing and Collection Department - Operates department for clearing and
collecting checks and drafts payable upon presentation also
for the collection of. maturing notes and b i l l s . Handles about
5,800 items d a i l y .
Gold Settlement Rind - Telegraphs Federal Reserve Board daily
for settlement through Gold Fund amounts credited to Gold
Settlement Fund - Suspense Account other Federal Reserve banks*

i

Clearing House - Member of Spokane Clearing House Association.
A l l mm cor g of G, H. A. arc either members of or carry clearing accounts with branch* Settlements made daily on books of
branch«
Direct Brating WFtliin D i s t r i c t 12 - Member or clearing mcmbor bank, taay
forward checks direct to the Federal Reservo Bank of San
Francisco and i t s branches for credit to i t s reserve account,
a t the office of the bank with which a f f i l i a t e d .
Other Districts - Upon authorization, checks payable i n other
d i s t r i c t s may be forwarded direct to other Federal Reservo
Banks and branches. Large items only should bo direct routed.

Currency Receipts and Shinnents - Currency receipts and shipments for the
cont
, six months ending Juno 30 were about 5
those of tho
head offico.
Telegraphic Transfers - Authorized to make telegraphic transfers for depositing banks* Not earnings on transfers purchased during
threo months ending March 31, 1919, $3,874.50.
Privato Wire System - On branch line San Francisco, Portland, Seattle,
Spokane: Monthly r e n t a l charge for entire lino $1197*00
Salaries paid i n January to operators on*branch lino San
Francisco-Portland-Scattle-Spcikane, $630.
BANK PREMISES:




Occupies quarters i n Marblo Bank Building; annual r e n t a l
$3,000. Has vault space i n F i d e l i t y National Bank safe deposit vaults i n same building a t monthly r e n t a l of $50.

Spokane ~6o~
\

EARNINGS AND EXPENSES

Monthly average for periods January 1 to March 31> & & A p r i l 1 to June 3 ° , 1919Jan^l-March 31
Earnings (Gross)

A p r i l 1-June 30

$29,80S

:

Current expenses:
Salaries
Other operating expenses
F . R„ currency
Furniture and f i x t u r e s
To+o-i (Transit
i 0 t a l
(Other

$3,57^
1,483
137
15
17581
3,528

Net earnings

5,20?
24,599

Ratio of net earnings to p a i d - i n c a p i t a l of
banks assigned to branch t e r r i t o r y
Ratio of t r a n s i t department expenses to
current expenses, exclusive of cost of
J?* R« currency
- -

$40,652
$5>078
2,022
197
1»319
2,092
6,524

8,6l6
32,036

97*5$
.
.
,24.$

33*1$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS: Average d a i l y deposits, based on Friday night figures, for periods
January 1 to March 31, and A p r i l 1 to June 30, 1919*
Jan.l-March 31
A p r i l 1-June 30
Member banks9 reserve account
$5,253,6l6
$5,427,412
Due to head o f f i c e
( a ) 5,891,128
(b) 8,176,071
U« So Government - general account
1^3,273
159i 2 39
Deferred a v a i l a b i l i t y items
1,33^,394
1,219,917
Other deposits
6o,46g
70,933
Deductions from gross deposits:
Uncollected items
2,816,358
2,357,459
(a) Maximum
Minimum
(b) Maximum
Minimum

amount
amount
amount
amount

due
due
due
due

to
to
to
to

head
head
head
head

office
office
office
office

-

Memb er_banks1 balances ~

State bank and trust company members,
March 4, 1919
A l l member banks Match 31, 1919

7,901,014
3,683,390
9,933,226
7,024,388
Reserve balance
with
Branch
$1,213,873
5,171,896

March 28, I919
January 10, 1919
June 13, 1919
A p r i l 4, 1919
.
Payment
a/ c
c o i t a l stock
With head o f f i c e
$ 70,400
306,925

VOLUME OF PAPER DISCOUNTED AND- BOUGHT: Monthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 1919*
Jan.l-March 31
A p r i l 1-June 30
Discounts for member banks National banks
$10,167,128
$14,507,373
State banks and trust con?panies
1,302,930
2,442,559
Acceptances bought i n open market - - •
T o t a l discounted and purchased b i l l s Average d a i l y b i l l holdings



11,469,658

16,949,932

7,411,808

10,094,803

Spokane - 6 l CLEARING AND COLLECTION DEPARTMENT*; Average number and amount of items handled
daily during periods January l 6 ; t o April 15,and April l 6 ; to July 15, 1919*
Jan»l6-April 15
A p r i l 1.6~July 15
Number
Amount
Number
Amount
Items drawn on tanks in branch city
Items drawn on banks i n head office city
forwarded direct to drawee bank
Items forwarded to head office
Items forwarded to other branches i n this
district
Items drawn on barks i n this d i s t r i c t
outside of F,R«barik and branch c i t i e s Items drawn'on banks in other IV R«
. districts:
Forwarded direct to drawee banks Forwarded to other F«R,banks or branches
Items drawn on Treasurer of United States

6

$*&6,937

79^

$506,^37

14

115,71*

10

9,281

389

226,927

579

175,971

4,171

279,960

4,550

309,725

88
270

162,989
19,971

&

1*0,972
36.431

5,624

TOTAL

92

1,252,49s

6,516

l,179t317

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, 1919*
_
%
( I n thousands of dollars.)
Jan.l-March 31.
April 1-June 30
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
City
City
City
Currency received From, member banks
- From non-member banks - - - -

Total
Excess receipts —
Excess shipments




- —

698
^

569

36

605

86

7Q>2

578

36

6l4

291
18

5*
—

3*5
18

2j0

110
22

353
_2I

309

Currency shipped or delivered To member banks
- To non-member banks - - - - -

83
3

616

Total

615
1

5*

363

248

132

380

- - 307

32

339

330

96

23*
—

) -62SEATTLE BRANCH
of the
FEDERAL BE SERVE BANK OP SAN FRANCI350
Opened for business
DIRECTORS;

Five, including the Manager*
f i r s t Ohesday of each month*

September 19, 1917
Meetings Friday following the

DISCOUNT CCMMIT3EE: Three, the Manager and two other Directors.
PERSONNEL:

©w> officers and 31 employes {May 31* 1919.)

TERRITORY ASSIGNED: B*e following counties i n the State of Washington Clallam
Clarice
Cowlitz
Grays Harbor
Island

Skamania
Snohomish
(Ihurston
Y/ahkiakum
Miatcom

Jefferson Mason
Pacific
king
Pierce
Kitsap
San Juan
Kittitas
Skagit
lewis

MEMBER BANKS I N
BRANCH TERRITORY:
NUMBER
National
Non-National
At opening of
branch June 1, 1919

34
38

1
10

CAPITAL AND SURPLUS,
National
Non-National
#9,768,450
11,209,750

$250,000
3,101,750

J&R LIST:
Number of non-member banks on par l i s t At opening of branch
July 15, 1919 Total number of non-member banks i n branch
t e r r i t o r y July 15, 1919, not on par l i s t

- -

114
73
46

SOWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries reserve and clearing accounts of banks i n
branch t e r r i t o r y -




- Government* Carries Government deposits and pays warrants, coupons,
e t c . Authorized l i m i t
000,000* Report i s made daily to
Ufcited States Treasurer*

Seattle - 6 3 Discount and Open Market Operations; Rediscounts e l i g i b l e paper f o r member
banks* Applications for discount of commercial pa$er are acted
upon by acting manager and one or two members of Discount Committee; c r e d i t being given subject to approval o f f u l l Discount
Cozxmittee* Notes c o l l a t e r a l e d by U. S* securities are passed
upon immediately by acting manager subject to f i n a l Action by
f a l l Discount Coranittee* Branch engages i n opien market opera*
tions subject to orders and f o r account of head o.ffice*
Clearing and Collection penartments Operates department f o r clearing and c o l l e c t i n g checks and d r a f t s payable tipoh presentation* also f o *
the collection of maturing notes and b i l l i . Handles about 7,500
items d a i l y *
Gold Settlement Fund v
!
'
Telegraphs Federal Beserve Board d a i l y f o r settlement
through Gold Fund,- amounts credited to Gold Settlement Fund Suspense account other F* R* banks*
Clearing House I s a member o f Seattle Clearing House Association* A l l members of c l e a r i n g house have accounts w i t h branch and settlements
are made d a i l y on branch books.
Direct Routing Within D i s t r i c t 12 - Member ojf c l e a r i n g member bank- may forward
checks d i r e c t to the Federal Beserve Bank of San Francisco and
i t s branches f o r c r e d i t to i t s reserve account, a t the o f f i c e o f
the bank w i t h i & i c h a f f i l i a t e d *
Other D i s t r i c t s - Upon authorisation, checks payable i n other d i s t r i c t s may be forwarded d i r e c t to other Federal Reserve banks
and branches* Large items only should be. routed d i r e c t *
Currency Receipts and Shipmentss Currency receipts and shipments for the 6
months ending June 30* 1919, were about o n e - f i f t h those of the
head o f f i c e *
telegraphic

Transfers; Authorized to make telegraphic transfers f o r depositing
banks* Net earnings on transfers purchased during the three
months ending March 31, 1919, ^5,287*74*

p r i v a t e Wire System* On branch l i n e San Francisco, Portland, Seattle, Spokane:
Monthly r e n t a l fi>r e n t i r e l i n e &L197* Salaries paid i n January
to operators on branch l i n e San Francisco-Portlund-SeattleSpokane, $630.
BANK PREMISES *




Occupies quarters and has v a u l t space i n Central Building, monthly
r e n t a l $325*

Seattle - 6 4 EARNINGS MB EXPENSES
Monthly average for periods January 1 to March 31, and. A p r i l 1 to June 30, 1919*
Jan«l~March 31
Earnings (Gross)

- -

$20,^00

Current expenses Salaries
Other operating expenses
P. R. currency
.- - Furniture and fixtures
TOtal
Total

$3,338
1,176
1,533
115

(^ansit

1,199

(Other

Net earnings

A p r i l 1-June 30

4,963

-

$18,829
$4,737
1,874
1,184
1,089

6,162

1,705

7,179

14,238

Ratio of net earnings to paid-in capital of
hanks assigned to branch t e r r i t o r y
Ratio of transit department expenses to
current expenses exclusive of cost of
F. R* currency

8,884^
9,9^5

33*7$
.
25*9$

CHARACTER AND VOLUME OF BUSINESS HANDLED.
DEPOSITS:

Average daily deposits,based on Friday night f i g u r e s , for 1
periods January 1 to March 31, and A p r i l 1 to June 30, 1919*

Member banks' reserve account
U. S* Government - general account
Deferred a v a i l a b i l i t y items
Other deposits
Deductions from gross deposits:
Due from head office
Uncollected items (a) Maximum
Maximum
(b) Maximum
Maximum

amount
amount
amount
amount

due
due
due
due

Jaa.l-March 31
$12,692,632
- 641,636
2,481,264
806,082
(a)

from head office
to head office from head office
to head office -

Member banks^ balancesj_
~

7S5,**22
5,553,259
3,927,851
2,150,849
3,408,708
9*2,495

Reserve balance
with
Branch

State bank and trust company members,
March 4, 1919
A l l member banks, March 31, 1919

$1,659,306
13,5^6,895

A p r i l 1-June 30
$12,873,109
433,579
2,914,093
641,142
(b) 1,232,795
5»252,355
February 14, I919
March 7, 1919
June 27, 1919
A p r i l 25,- 1919
,
Payment - a/c
capital stock
with head o f f i c e .
.
$ 92,350
420,750

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and A p r i l 1 to June 30, I919.
Jan.l-March 31
A p r i l 1-June 30
Discounts for member banks • > .
National banks
- $27,102,702
$14,949,^2
State banks, and trust companies - —
1,962,667
4,523,333.
Acceptances bought i n open market
;
r
—
Total discounted and purchased b i l l s "Average daily b i l l holdings - - 


—

29,065,369

19,^72,735

4,999,^58

4,613,208

Seattle - 6 5 CLEARING AND COLLECTION DEPARTMENT: Average number and a m o u n t of items handled
d a i l y during periods January l 6 to A p r i l 15, and A p r i l l b to July 15,
J a n . l 6 - A p r i l 15
Number
Amount

1,736 $1,326,191 1,891 $1,4*7,797

Items drawn on banks i n branch c i t y
Items drawn on banks i n head o f f i c e c i t y ,
forwarded direct to drawee bank
Items forwarded to head o f f i c e - - Items forwarded to other branches i n
this d i s t r i c t
Items drawn on barks i n this d i s t r i c t
outside of F.R. bank and branch c i t i e s Items drawn' on banks i n other F,E.
districts:
Forwarded direct to drawee banks
Forwarded to other F.R.banks or.v- branches
Items drawn on Treasurer of United States
TOTAL

-

A p r i l 16-July 15
Number
Amount

.39

108,3&2

4*6

153,036.

c~

~ „/isg,u/o

9.2

3,686
67.
1.128

**
141,295
750,7**)

~
220
hJ±2.

-

7,102

- -

699,378

352
.
4,304

161,5*3

3,179,008

7,9*7

3,259.,*36

k

~

ftgQ

W

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods Jasmary 1 to March 31,
and A p r i l 1 to Jtme 30, 1919.
( I n thousands of d o l l a r s , )
Jan.l-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
City
City
City.
Currency received From metfber banks .
From non-member banks

2,7*1
129

Total - Exoess receipts
Excess shipments




- -

2,066
25

l60.
13.

2,22b
2§

165

3,035

2,091

173.

2,264

79
-

717
244

1,280
30*

25*
2

1,53*
30*

882

79

96l

1,58*

25*

1,838

lfc98~jS

Currency shipped or delivered To member banks
To non-member banks

2,89*
1*1

2,870

Total

153.
IS

86

2,07*

-81

*26

63S
2*4

.

507.

SaltLakeCity-66-

fORTLAND BRANCH
of the

<
*

FEDERAL RESERVE BANK OF SAN FRANCISCO
Opened for business
Directors:

October l f 1917-

Five, including the Manager*, Meetings Wednesday following the
f i r s t Tuesday of each month,

DISCOUNT COMMITTEE:
PERSONNEL:

Three, the Manager and two other directors.
Two officers and 34 employes (May 31, 1919*)

TERRITORY ASSIGNED: Entire State of Oregon and City of Vancouver, Washington.
MEMBER BANKS IN
BRANCH TERRITORY:
NUMBER
CAPITAL AND SURPLUS
National
Non-National
National
Non-National
At opening of
branch
82
1
$15,114,943
$125,000
June 1, 1919
sg
u
15,770,200
3,297,740
PAR LIST:
Number of non-member banks on par l i s t At opening of branch
July 15, 1919
Total number of non-member banks in branch
t e r r i t o r y July 15, I919, not on par l i s t

139
102
6l

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks* Carries reserve and clearing accounts of banks
assigned to deal with branch*




- Government. Carries Government deposits and pays warrants, coupons,
etc. Authorized l i m i t $200,000- Report i s made daily to
Treasurer of the United States.

Portland

V

Discount and Open Market Operations; Bedisoounts e l i g i b l e paper for member
banks* Applications for discount of commercial paper are acted
upon by acting Manager and one or two members of Discount Committee, credit being given subject to approval of f u l l Discount
Committee. Notes collateraled by U. S. securities are passed
upon immediately by acting manager, subject to f i n a l action by
f u l l Discount* Committee. Branch engages i n open market operations subject to orders and for account of head o f f i c e . *
Clearing and Collection Department; Operated department for clearing and collecting checks and drafts payable upon presentation, also for
the collection of maturing notes and b i l l s * Handles about 5,800
items d a i l y .
.Gold Settlement Fund:
'Telegraphs Federal Beserve Board daily for settlement
through. Gold Fund, amounts credited to Gold Settlement Fupd Suspense account other Federal Beserve banks.
Clearing House:
Member of Portland Clearing House Association* A l l members
of Portland Clearing House are either members or carry clearing
accounts with branch. Accounts settled daily on books of branch*
Direct Boutin-::
Within D i s t r i c t 12 Member or clearing member bank, may forward checks direct to the
Federal Beserve Bank of San Francisco and i t s branches for credit
to i t s reserve account, at the office of the bank with which
affiliated.
Other D i s t r i c t s Upon authorization, checks payable i n other d i s t r i c t s may be
forwarded direct to other Federal Beserve banks and branches.
Large items only should be direct-routed.
Currency Receipts and Shipments; Currency receipts and shipnents for the 6
months ending June 30, 1919 were about 12 per cent of those of
the head o f f i c e *
telegraphic

transfers; Makes telegraphic transfers for the account of depositing banks* Net earnings from transfers purchased during three
months ending March 31f 1919, $1,685*97.

Private tare System; On branch l i n e San Francisco-Portland-Seattle-Spokane.
Monthly charge for entire l i n e $1197. Salaries paid i n January
to operators on branch l i n e San Francisco-Portland-SeattleSjpokane, $630.
BANK PREMISES:




Occupies quarters and has vault space a t 305 Stark Street, annual
r e n t a l $3*600.

Portland -oS-

EA3NINGS AND EXPENSES
Monthly average for periods January 1 to March 31» aadL A p r i l 1 to June .30, 1919 •
January 1-March 31 A p r i l 1-June 30
Earnings (Gross)

- -

Current expenses:
Salaries
Other operating expenses
F . R» currency
Furniture and f i x t u r e s
Total ( T r a n s i t
10131
(Other - - - Net earnings

'

$15,035

$3,198
1,846
329
8£
1»103
4,355

- -

5,458
9»627

Ratio of net earnings to p a i d - i n c a p i t a l of
banks assigned to branch t e r r i t o r y - - Ratio of transit department expenses to
current expenses exclusive of cost of
IV R» currency -

$17,180

$4,432
2,007
500
691
1,941
5*689

7,630
9.550

21*6$

21-5$

27.2$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, based on Friday night figures, for periods
January 1 to March 31, and A p r i l 1 to June 30, 1919*
Jan.l-March 31

Member banks' reserve account U . S« Government - general account - - Deferred a v a i l a b i l i t y items
Other deposits
Deductions from gross deposits;
Due from head o f f i c e
Uncollected items
(a) Maximum
Maximum
(b) Maximum
..-Minimum

amount
amount
amount
amount

due from head office
due to head o f f i c e
due from head office
due from head o f f i c e

A p r i l 1-June 30

$11,637,131
209,556
1,858,979
737,009

$12,658,927
234,881
2,158,81b
697,193

(a)

9^,0lU
681,126
3,199,982
1,626,135
7,623,998
1,537,$55

(b) 3,609,601
2,984,437
February 7, 1919
January 17, 1919
May 23, 1919
20
> 1919

Member banks* balances
Reserve balance
with
Branch
State bank: and trust company members,
March U, 1919
A l l member banks, March 31, 1919




$1*833,960
11,355,029

Payment - a/c
capital stock:
w i t h head o f f i c e
$ #±,650
542,980

Portland -6>VOLUME OF PAPER DISCOUNTED AND' BOUGHT: Monthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 131$*
—_
..A
Jan^.-M&rch 31
April. 1-June ^0
Discounts for member "banks National hanks
$4,311,562
$5*724,008
State banks and trust companies
462,018
742,320
Acceptances bought i n open market
~
Total discounted and purchased b i l l s Average daily b i l l holdings

6,466,328

3,583,117

- -

4,773,580

4,178,877

CLEARING AND COLLECTION DEPARTMENTS Average number and amount of items handled
daily during periods January 16 to A p r i l 15, and A p r i l 16 to July 15»
1919*
•
Jan«l6-April 15
A p r i l l6-July 15
Number
Amount
Number
Amount
Items drawn on banks i n branch c i t y
1,491 $1,090,643
1,500 $1,224,065
Items drawn on banks i n head o f f i c e c i t y , forwarded direct to drawee bank
-.o~ac:1i
12
2 "
Items forwarded to head o f f i c e
12
>°m
5
Items forwarded to other branches i n t h i s
^
.
r „_
district
629
96,891
675
134,058
Items drawn on banks i n t h i s d i s t r i c t
* k
~
h
outside of F.R«bank and branch c i t i e s 2,993
244,^
3,055
284,Obb
Items drawn oh banks .in other F#R« d i s tricts:
Forwarded direct to drawee bank
ZoiTh
c
Ccb
Forwarded to other F.,R*banks or brandies
6l
bO
Items drawn on Treasurer of United States
607 ;
670
484 r 32b
Total

- -

-

5,793

2,099,334

5,935

2,224,446

CURRENCY RECEIPTS AND SHIPMELSiTS: Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, 1919.
( I n thousands of dollars^)
Jan«l-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
City
City
City
Currency received From member banks
From non-member banks

Currency shipped or delivered To member banks
To non-member banks
Total
Excess receipts
Excess shipments



>

89
-

1,112
17

1,236
2

127
-

1,363
2

1,040

Total

1,023
17

89

1,129

1,238

127

1,365

1,363
8

44
-

1,407
8

1,H8
18

120
-

1,238
18

1,371

44

1,415

1,136

120

1,256

331

45
-

286

102
-

7

109

SaltLakeCity-70SALT LAKE CITY BRANCH
OF THE
FEDERAL RESERVE BANK OF SM FRANCISCO
Opened for business
DIRECTORS:

Five, including the manager*

April 1, 1912
Meetings Friday following the

f i r s t Tuesday of each month*
DISCOUNT COMMITTEE:
PERSONNEL:

Three, the manager and two directors.
officers and 5^ employes (May 31 * 19*9•)

TERRITORY ASSIGNED:

A l the following counties of Nevada. assigned to Spokane and
l of Utah, that part of Idaho not
Clark

Elko

Lincoln

IBhite Pinan

MEMBER BANKS I N
BRANCH TERRITORY:
NUMBER
National Non-National
At opening of
branch
June 1, 1919 - - - -

79
87

U
I19

CAPITAL AND SURPLUS
National
Non-National
$9,S15»7SS
10,601,600

$795,2%
6,135,455

PAR LIST:
Number of non-member banks on par l i s t At opening of branch - —
July 15, 1919
- Total number of non-member, banks in-branch t e r r i t o r y
July 15, I919, not- on-par-list
.

ISk
137
1

POKERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries reserve and clearing accounts of banks
assigned to deal with branch-




- Governmfent. Carries Government deposits and pays warrants, coupons,
etc. Authorized l i m i t $100,000. Report i s made daily to Treasurer of United States.

Salt Lake City
Salt

Lake

City

-71-

Discount and Open Market Operations* Rediscounts e l i g i b l e paper for member
banks. Applications for rediscount of commercial paper are
acted upon by acting manager and one or two members of Discount
Committee, credit being given subject to approval of f u l l Discount Committee* Notes collateraled by TJ. S. securities are
passed upon immediately by acting manager, subject to f i n a l
action by f u l l Discount Committee. Branch engages i n open
market operations subject to orders and for account of head
office.
Clearing and Collection Department; Operates department for clearing and
collecting checks and drafts payable upon presentation* also
f o r the collection of maturing notes and b i l l s . Handles about
14,300 items d a i l y .
Gold Settlement Fund:
(telegraphs Federal Reserve Board daily for settlement
through the Gold Fund, amounts credited to Gold Settlement Fund Suspense account other Federal Reserve batiks.
Clearing House:
Member of Salt Lake City Clearing House Association. A l l
members of the Clearing House Association have accounts with
branch and settlements are made daily on i t s books.
Direct Routing:
Within D i s t r i c t 12 Member or clearing member bank, may forward checks direct to
the Federal Reserve Bank of San Francisco and i t s branches for
credit to i t s reserve account, a t the o f f i c e of the bank with
which a f f i l i a t e d .
Other D i s t r i c t s Upon authorization* checks payable i n other d i s t r i c t s may be
forwarded direct to other Federal Reserve banks and branches.
Large items only should be direct-routed.
Currency Receipts and Shipments' Currency receipts and shipments for the 6
months ending June 30 were about one-tenth of those of the head
office.
gelegranhic Transfers* Authorized to make telegraphic transfers for account
of depositing banks. Net earnings on transfers purchased during
three months ending March 31* $8*228.44.
Private Wire System* On main l i n e Chic ago-Omaha-Denver-Salt Lake City-San
Francisco.
BANK PREMISES:




Occupies quarters and has vault space i n Deseret Bank Building,
Main and F i r s t Streets; monthly r e n t a l $5.23. Also has one vault
i n National Copper Bank and three vaults i n Walker Brothers Bank,
without expense to the Federal Reserve Bank. Actual r e n t a l paid
during three months ending March 31> 1919 $ $2,138.10-

S a l t Lake City - 7 2 EABNINGS M P EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 19 !9*
Jaa.l-Mar ch 31
Earnings (Gross)

- -

Current expenses:
Salaries
Other operating expenses
P. R. currency
Furniture and f i x t u r e s
(Transit
m . ,
T o t a l
(Other

A p r i l 1-June 30

$72,364

.•

—

i

$5,882
2,806
288
1JlU6
2,808
7,314

$94,101
$7,799
3,579
247
992
57W
8,968

n0v!22

12,617

«

Net earnings

- - -

62,242

Ratio of net earnings to p a i d - i n c a p i t a l of
banks assigned to branch t e r r i t o r y - - Ratio of transit department expenses to
current expenses exclusive of cost of
F . R* currency
V

81,484

l4l«6$
28*6$

29.5$

CHARACTER AND VOLUME OF BUSINESS HANDLED.
DEPOSITS:

Average daily deposits, based on Friday night f i g u r e s , for periods
January 1 to March 31 f sad A p r i l 1 to June 30, 1919*

Jan#l-March 31
Member barks* reserve account - - - - $3*105,447
Due to head o f f i c e
- ~ (a) JL5,392,281
U„ S« Government - general account
158,112
Deferred a v a i l a b i l i t y items
3,895.962
Other deposits
62,343
Seductions from gross deposits:
Uncollected items
6,513,934
( a ) Maximum
Minimum
( b ) Maxinum
Minimum

amount
amount
amount
amount

due
due
due
due

to
to
to
to

head
head
head
head

office
office
office
office

-

Member_banksJ[_ balances__
_

State bank and trust company members
March 4 , 1919
A l l member banks March 31, I919

19,002,908.
12,985,213
22,465,447
17,695,93)
Reserve balance
with
Branch
$2,438,838
8,003,386

A p r i l 1-June 30
$8 f 806,22J
(b) 20,920,108
159»926
4,489,783
46,692
7,265,031
March 28, 1919
January 3 , 1919
May 23, 1919
June 20, 1919
Payment - a / c
c a p i t a l stock:
w i t h head o f f i c e
$164,550
534,866

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 1919«
Jan.l-March 31
A p r i l 1-June 30
Discounts for member banks National banks
$21,223,^6
$30,171,481
State banks and t r u s t companies
10,682,754
15,021,423
Acceptances bought i n open market
Total discounted and purchased b i l l s Average d a i l y b i l l holdings



31,906,050

45,192,904

17,938,004

24,107,637

Salt Lake City - 7 3 CLEABING AND COLLECTION DEPARTMENT: Average number and amount of items bandied _
_
d a i l y daring periods January l 6 to A p r i l 15, and A p r i l l b to July 15, 1913J a n . l 6 - A p r i l 15
A p r i l l6-July 15
dumber
Amount
Number
Amount
1,118
$ 9 1 ^ , 7 ^ 1,285
$951,5^

Items drawn on banks i n branch c i t y
Items drawn on banks i n head o f f i c e c i t y ,
forwarded direct to drawee bank
Items forwarded to head o f f i c e
52
Items forwarded to other'branches i n this
district
- 169
Items drawn on batiks i n this d i s t r i c t
outside of F.R* bank and branch c i t i e s - 10,993
Items drawn on banks i n other F.R*
districts:
Forwarded direct to drawee banks
Forwarded to other iVR^anks or*branches
2ft
Items drawn on Treasurer of United States
.542
TOTAL - - - -

-

132,715

/"

~
79»597

62

337,061

676,31s

956,938 12,715

5*0,95&
75,008

1,015,551

j*
264
522.

1 3 , 2 , 9 9 7 , ^ 2 2 15,071

.

~
*
9^7,214
22iZ22

3,79^,7?U

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, I 9 1 9 .
( I n thousands of dollars*)
Jan»l-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
City
City
City
Currency received From member banks - From non-member banks

887
-

Currency shipped or delivered To member banks - - — To non-member banks

—

1,226
-

^3
^

1,269
Jji

171

1,058

1,226

US .

1,274

76s

106

1^7
2^3

262

xo6

390

196

1,120

571

- - -

Excess receipts - - - — . —
Excess shipments - - - -

3

571

Total - -




1,036
22

gg7

Total -

22

-

291

316
-

120

496
778

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