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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 banks on list At opening ofpar 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 - - Total ^>39^ $3»H1»a07 &59 816,695 7,697 1,28^,120 3,279 536 779,230 237 16,767 6,IU9,U89 ( 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 _ _ _ _ _ _ 1,637 2.211 - ZK 3,050 2,235 1,237 5,285 1,213 - - - 1,813 1 ? 553 1,085 76 2,898 1,629 - - 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 of Pennsylvania and West V i r g i n i a included i n portions D i s t r i c t No.U„ 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 SO 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 •L K :2fiinixcom fieomit due from head o f f i c e (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 Currency shipped or delivered To member banks s To non-member banks — - — Total - - - - Excess r e c e i p t s l&cess shipments - - ^ - 8,936 288 9,224 7,965 120 8,085 4,676' 4 167 13 4,843 17 4,011 - 222 24 4,233 24 4,680 180 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 Net earnings $93>619 14.116 $5,614 3,953 4,920 427 1,810 13.105 14.915 89,761 78,704 Batio of net earnings to p a i d - i n c a p i t a l of banks assigaed to brafcch t e r r i t o r y 129.8$ 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 banks on list At opening of par 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 TOTAL A p r i l l 6 - J u l y 15 Number Amount 1,106 $55^,7^2 1,167 64 24,319 76 60 353 88,806 169 ,534 3U 574 ~ . U7,832 107.639 4,626 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 Total Currency shipped or delivered To member banks To non-member banks Total-Excess rshipments eceipts - - Excess - 99 - 233 6 332 6 1,795 - 201 34 1,996 34 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) 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 . . A p r i l 1 - June 30 $48,185 $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-- Excess shipments- 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 2,s4o - Outside Branch City ^ -» - - - 6,502 Excess receipts In Branch City June 30 9*33* 8 Currency shipped or delivered To member banks - - - ~ 6,502 To non-member banks - * Total Total April - 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 Average daily b i l l holdings 1QT 767_ 17,110,>+7* 35,725,176 2,^,878 6,808,711 CLEARING AND COLLECTION DEPARTMENT: Average16number amount daily during periods January to A p rand i l 15 and Aof p r iitems l 16 tohandled July 1 5 , ^ l ? 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 BBAMCH 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 MEMBER BANKS IN BRANCH ERR! TOST; 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 Total discounted and purchased b i l l s - - 42,171 ^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. - — Total 1,802 $1,042,813 1,600 $988,51+? 38 9,631 4l~ 5,4co 12 2,^36 5 2,837 1.875 211,853 2,311 240,433 15 689 if, 810 53,556 23 70$ 9,309 124,048 4,229 1,270,835 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 Total Currency shipped or delivered To member hanks To non-member banks - - Total Excess receipts 1,711 HI 913 _i=i 1,758 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- OMAHA BRANCH 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 o f f i c e r s and 50 employes. 31, employes 1916.) (June 15, 1919.) Two officers, and Acting Cashier(Dec. and 60 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 $6,918 ^'Pf 636 6l0 9,970 7,449 57,603 Ratio of net earnings to p a i d of banks assigned to branch t e- irnr i tcapital ory Ratio of t r a n s i t department expenses to current expenses, exclusive of cost of R* currency - 11,872 59,075 76-6$ • ^ 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 • 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 A p r i l 1-June 30 $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 - Jan.l-March 31 - 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 To member banksor delivered 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 receipts Excess shipments 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 $4,527 2,657 -^g ""1+75 251 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 712 Total • Currency shipped or delivered To member banks To non-member banks Total •Excess receipts Excess shipments • ' JJ1 293 J5S 1,005 109 612 31 218 2J 830 §8 783 331 l.Ufc 643 245 888 595 26 349 170 944 196 655 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 BR/JSFCH 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 TOTAL 6 92 $*&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 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 Currency shipped or delivered To member banks - To non-member banks - - - - Total Excess receipts — Excess shipments - — 615 1 83 3 698 ^ 569 36 605 616 86 7Q>2 578 36 6l4 291 18 5* — 3*5 18 2j0 110 22 353 _2I 309 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 T o tt a TO a ll $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 3,686 699,378 352 . 4,304 161,5*3 67. 1.128 ** 141,295 750,7**) ~ 220 hJ±2. - 7,102 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 Total Currency shipped or delivered To member banks To non-member banks Total - Exoess receipts Excess shipments - - 2,7*1 129 153. IS 2,89* 1*1 2,066 25 l60. 13. 2,22b 2§ 2,870 165 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 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 (Transit 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* 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 Jan.l-March 31 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 - - 4,773,580 6,466,328 3,583,117 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 1-.o~ac:1i 2 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 Total Currency shipped or delivered To member banks To non-member banks Total Excess receipts Excess shipments > 1,023 17 89 - 1,112 17 1,236 2 127 - 1,363 2 1,040 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 l of following Utah, thatcounties part of ofIdaho not assigned to Spokane and Nevada. 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 Total Currency shipped or delivered To member banks - - — To non-member banks — 22 1,036 22 1,226 - ^3 ^ 1,269 Jji gg7 171 1,058 1,226 US . 1,274 76s 106 1^7 2^3 262 xo6 390 196 1,120 571 - - - Total - Excess - . — Excess receipts shipments -- -- -- — 887 - - 3 571 291 316 - 120 496 778