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FEDERAL RESERVE BRANCH BANKS

OUTLINE COVERING

POWERS AND FUNCTIONS; ALSd CHARACTER AND VOLUME
OF BUSINESS HANDLED

FEDERAL. R £ S E R V £ SOARD
y^ASHWGTON. O. C .







OUTLINE OF FEDERAL RESERVE BRANCH BANKS
COVERINGPOWERS J N JUNCTIONS; ALSO CHARACTER AND VOLUME OF
AD
BUSINESS HANDLED.
* * * * * * *
*****
* * *
*

Federal Reserve
Branch
Buffalo
Cincinnati
Pittsburgh
Baltimore
Birmingham
Jacksonville —
Nashville
New Orleans
,
Savannah Agency
Detroit
L i t t l e Rock
Louisville
Memphis
Denver
Oklahoma City
Qnaha E l Paso
Houston —
Los Angeles —
Portland
Salt Lake City
Seattle
Spokane - -

Pages

^ - -

.
- .

L

—

* * * * * * *

FEDERAL RESERVE BOARD
DIVISION OF REPORTS AND STATISTICS
OCTOBER, 1920«

1-5
6-9
10-13
lU-17
IS-21
22-25
26-29
30-33
3^
35-38
39-42
U3-U6
47-50
5I-5U
55-58
59-62
63-66
67-70
71-7*+
75-78
79-82
83-86

BUFFALO BRANCH
of the
FEDERAL RESERVE BANK OF 11SS1 YORK.
Opened for business

May 15, 19194

DIRECTORS:
Harry T, Ramsdell,
President, Manufacturers & Traders National Bank,
Buffalo, N.Y*
E l l i o t t C- McDougal,.
President, Bank of Buffalo

Home Address
Buffalo, N.Y.
Buffalo, N.Y.

Ray M. (Sidney,
Manager, Buffalo Branch

Buffalo, N.Y.

,

C l i f f o r d Hubbell,
President, F i d e l i t y Trust Company, Buffalo, N.Y-

Buffalo, N*Y*

Frank L* BartExchange National Bank, Olean, N. Y#
President, l e t t ,
Olean,
Meetings the t h i r d Thursday of each month*

N.Y.

EXECUTIVE COMMITTEE: Beginning July 1, 1920;will pass on a l l applications for loans
of member banks i n the c i t y of Buffalo •
.Meetings d a i l y except Saturday*
PERSONNEL:

Three o f f i c e r s and 111 employes (July l t

TERRITORY ASSIGNED:

The ten most westerly counties of New York State as follows:
Monroe
Alleghany
Livingston ;
Genesee
Cattaraugus
Chautauqua
Orleans
Fycming
Niagara
Erie

MEMBER BANKS I N BRANCH
TERRITORY:
NUMBER- CAPITAL
National Non-National National
At opening
o f branch- -57
9
$16,151,300
MaylJ, 1 9 2 0 - 6 0
20
18,555,000

AND SURPLUS
Non-National
$7,657,500
31,573,000

1920)

TOTAL RESOURCES
National. Non-National
$181,516,000 $91,U71,OCO
192,406,000 29^,^61,000

PAR LIST:
Number o f non-member banks on par l i s t At opening of branch
June 30, 1920

83
92

Total mmber o f non-member banks i n branch t e r r i t o r y
June 30, 1920, not on par l i s t

None




POWERS AMD JUNCTIONS EXERCISED BY BRANCH:

Buffalo 2.

SsiiOJGdjkfi. - Member "banks. Carries accounts of member banks i n City of Buffalo.
Aaotuats received on deposit from oth^S^o£fi!te& are t r a n s m i t t e d
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 btenks.
- 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 .
Discount and open market onerationq - Beginning July 1 w i l l carry en i t s own
books paper rediscounted for member banks i n the City of Buffalo*
I n the case o f member banks outside the City of Buffalo, applications f o r loans and discounts are transmitted,as formerly/ to fha
Federal Reserve Bank of New York for f i n a l action* Immediate
c r e d i t , however, i s given i n cases where i t becomes necessary
for member banks to r ediscount i n order to meet unexpected c l e a r ing 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 United States securities, the branch w i l l , i f requested, hold
c o l l a t e r a l arid forward notes to the 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 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 supply of
currency are the p r i n c i p a l functions exercised by the branch.
Bandies about 26,000 items d a i l y *
Clearing House - Has l i m i t e d membership i n the Buffalo Clearing
House Association w i t h the p r i v i l e g e of clearing checks and
drafts and other items which are clearable through the Buffalo
Clearing House, but has no voting ptiwer. Acts as Clearing Agent
for the Clearing House Association i n the s e t t l i n g of d a i l y
balances for a l l members*
Direct Routings - Items on a l l points i n d i s t r i c t outside New York
City are collected d i r e c t by Branch.
Currency Receipts and Shipments - During the 6 months ending June 30, 1920,
currency receipt® averaged about $11,000,000 and currency shipments about $13,000,000 monthly.
Telegraphic transfers - Makes telegraphic transfers f o r account of member banks
and Federal Reserve Banks. 680 transfers aggregating $45,608,313
were made during the month of June.
F i s c a l Agency - Pays Government checks, l i b e r t y Loan coupons, U. S. c e r t i f i c a t e s
of indebtedness and other Government obligations* Makes exchange
of. denominations of Victory notes, also exchange of L i b e r t y Loan
fcende fr.an temporary bonds to permanent bonds. Sells T h r i f t
securities and War Savings Stamps* f



Buffalo - 3 Private Wire System - Branch telegraphs d a i l y over private wire
to the parent hank amounts of items received for
immediate credit or immediate debit to members
outside of the c i t y of Buffalo and to other
Federal Reserve Banks; also amounts of currency
deposits, etc*
BANK PREMISES:
*




Occupies quarters and has vault space i n the
Chamber of Commerce Building with additional
vault space at the Manufacturers and Traders
National Bank of Buffalo• Rent $1,^00 per month.

Buffalo - U ELARNIN&S AMD EXPENSES
Monthly average for periods Jan. 1 to March 31 and A p r i l 1 to June 30, 1920.
.Earnings

Prior to July 1 a l l ©amine: assets were carried on hooks'
of Head Office. Since July i , paper discounted for hanks
i n City of Buffalo i s carried on Branch bocks ••
Jan.l-March 3 1 A p r i l 1-June 30

Current expenses:
Salaries
1
Other operating expenses
F . E. currency
Furniture and f i x t u r e s
m f t t f t l (Transit
A01?aA
(Other
Ratio of transit department expenses to
current expenses exclusive of cost of
F. R. currency

$12, l6U
5,5^2
715
lr156
6,075
13,502

$12,
8,08*+
^29
'2T0Q^
6,761
$19,577 -16,719 $23,^80

32.2$

29.3$

CHARACTER AND VOLUME OF BUSINESS HANDLED:
DEPOSITS:

Branch carries deposit.;accounts of member banks in- the City of Buffalo,
only. Deposit balances at c.lose of June 30, 1920, were as follows:Reserve accounts, $18,710,000; other accounts, $6,810,000.
Average cash balances based on Friday night figures for periods Jan.
1 to March 31, $20,636,000, and A p r i l 1 to June 30, $20,498*000/

VOLUME OF PARES DISCOUNTED AND BOUGHT: Prior to July 1, 1920,- Branch carried
no earning assets, applications for discounts being forwarded to Head
Office for f i n a l action- Since July 1 paper discounted for banks- in.
the City of Buffalo is carried on bocks of Eranch*




Buffalo - 5
CIEARIN& MD COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during periods December l 6 , I 9 I 9 to March 15, 1920 and March l6 to
June 15, 1920*
Dec .l6-March 15
March l6-June 15
.Amount
.Amount Number
Number
Items drawn on banks in branch c i t y - 5,835
1,248
Items forwarded to Head Office
Items drawn on banks i n this d i s t r i c t
outside of I^R.bank and branch
cities
11,523
Items forwarded to other P. R» banks
or branches
5,233
Items drawn on Treasurer of U. S. - 317
TOTAL
2U, 157

$3,728, U50
835,52*

5,899
1,316

088,7U7

1,793,617 12,727

2,217,^

1,2^1,812 5.6U2

1,U09,296

990,63U

506

75. "588

7,659,582 26,090

8,781,729

60.179

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to
March 31, and April 1 to June 30, 1920.
January 1-March 31
April 1-June 30
In
Outside
In
Outside
Branch Branch Total Branch Branch Total
City
City
City
City
( I n thousands of dollars)
Ourr ency r e ce ived •
Ercm member "banks
Eran non-member bgnks

2,885
2*50

921
50

9,806
100

10,697
-

1,329

12,026

9,135

971

10,106

10,697

1,382

12,079

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

7,351 3,380
710
570
8,061 3,950

10,731
1T280
12,011

9,729
9,729

Excess receipts
Excess shipments

1,07^
2,979

1,905

968
-

Total




3,556 13,285
*K>1
Hoi
3,957 13,686
2,575

1,607

CINCINNATI BRANCH
of the

Cincinnati - 6 -

FEDERAL RESERVE BANK OF CLEVELAND
Opened for business

January 10,1918.

DIRECTORS:
G.D.~ Crabbs
President, P h i l i p Carey Co., Lockland, Ohio*
Judson Harmon
Attorney, St.Paul Building, Cincinnati,0*

Home Address
Ridgeway & Dakota Ave.,
Cincinnati,0.
2957 Annwood Avenue
Cincinnati,0.

Chas. A. Hinsch
President, F i f t h - T h i r d National Bank, Cincinnati,Oi
W.S. Howe,
President, F i r s t National Bank, Cincinnati',0*
L . t . Manning,
Manager, Cincinnati Branch

600 E . M i t c h e l l Ave.,
Cincinnati,0.
2359 Madison Road,
Cincinnati,0*
266 Senator Place,
Cincinnati,0.

Meetings: Regular meetings are h e l d on the Tuesday preceding the f i r s t
Friday of each month. Special meetings may be held upon the c a l l
of the Manager, or at the direction of the Federal Reserve Bank
of Cleveland.
EXECUTIVE COI^UTTEE:

None.

Executive business conducted by f u l l board of
directors*

PERSONNEL:

Three o f f i c e r s and 111 engployees (June 30, 192))

TERRITORY ASSIGNED:

That p a r t of Kentucky i n Federal Reserve D i s t r i c t No. 4
and the following 25 counties i n the southern part of Ohio:
Adams
Athens
Brown
Butler
Clarke

Clermont
Clinton
Darke
Fayette
Gallia

Green
Hamilton
Highlands
Jackson
Lawrence

Meigs
Ross
Miami
Scioto
Montgomery Vinton
Pike
Warren
Preble
Washington

MEMBER BANKS IN'BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of Branch
194
3
$46,845,000
$572,000 $307,099,000 $2,658,000
May 4, 1920
200
15
52,700,000 10,280,000
387,836,000 93,512,000
PAR LIST:
Number of non-member banks on par l i s t
At opening of Branch
June 30,1920
Total number of non-member banks i n Branch t e r r i t o r y
June 3Q,1920, not on par l i s t

107
322
None

POWERS AfrD FUNCTIONS EXERCISED BY 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
of depositing banks.
- Government. Receives deposits f o r U.S* Treasurer r s c r e d i t ; redeems
c e r t i f i c a t e s and coupons, pays Government checks, e t c . , but closes
out balance through Head O f f i c e daily*




Cincinnati-7 ~
Discount and open market operations - Carries no earning assets- Member "banks'
c o l l a t e r a l notes, applications for loans and discounts, bankers1
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 action a f t e r examination a t Branch for technical defectsCredit upon date of receipt of acceptable paper i s arranged by
telegraph w i t h Head Office i n a l l cases where member banks desire
such crddit i n order to meet unexpected debits i n t h e i r reserve
accounts and for other purposes • I n cases where notes are collateraled by U. S. securities, the Branch holds c o l l a t e r a l and
forwards notes to Head Office with trust 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 - Operates a c i t y and foreign collection department for the handling of bonds, coupons, notes, trade acceptances, time, a r r i v a l , and b i l l of lading drafts, c e r t i f i c a t e s of
deposit, checks and insurance and railroad vouchers- A l l banks
within the brahch t e r r i t o r y are on par l i s t and a l l except two
route a l l items direct to branch. Handles about 3^,000 items d a i l y Clearing House T Has limited membership in Cincinnati Clearing House
Association and pays annual dues of $200, payable semi-annually,
but has no vote i n the a f f a i r s of the Clearing House. Settlement
of clearing balances o f member banks i s made by the branch upon
c e r t i f i c a t i o n of the Clearing House Manager.
Currency Receipts and Shipments - During the 6 months ending June 30 currency
receipts were about one h a l f and currency shipments about one t h i r d
those of the parent bank*
Telegraphic Transfers - Makes wire^ transfers for member banks i n branch t e r r i t o r y .
Fiscal Agency - Makes conversion, exchange and interchange of a l l issues of
Liberty Loan Bonds and Victory Liberty Loan Notes.
Private Wire System - Telegraphs d a i l y to parent bank amounts of a l l items r e ceived for immediate credit or immediate debit to members or other
Federal Reserve banks, also amounts of a l l deposits, enabling
Head..Office to include i n i t s account a l l Branch figures each day.
Monthly rental of branch l i n e between Cleveland and Cincinnati
$U66; salaries paid operators $195BANK PREMISES:




Occupies quarters and has vault space i n the Union Savings Bank and
Trust Company Building* Monthly r e n t a l $7^8. The Fiscal Agency,
Exchange and Conversion department occupies quarters i n the basement (with vault space i n the safety v a u l t ) of the First.National
Bank a t a monthly r e n t a l of $375 •

Salt

Lake

C

i

t

y

-8-

EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30,1920.
January 1 - March 31
Earnings

• » • . • i « » « * •

Current Expenses:
Salaries
Other operating expenses - - - - - F- R. currency
Furniture and fixtures —
- - —
- + . (transit
Total
(other

A p r i l 1 - June 30

A l l earning assets carried on books of
head o f f i c e *
$10,637
Uo
809
7,793 $ 9 g
A
gfl35
15> 2

Ratio of transit department expenses to
current expenses exclusive of cost
of P. R« currency

$10,
6,059
119
774
8,178
.
9,338 $17,516

U7*($

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,^16,000
A p r i l 1 to June 30,
2,0Ug,000

VOLUME 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.
Volume of -paner transmitted to Main Office•
Jan. 1 to Mar* 31.1920* Apr. 1 to June 30 f lQ20#
Monthly Average
Monthly Average '
Number
Amount
Number
' AmouAt
Member bank notes secured by
Government c o l l a t e r a l . . . . .

63

$10,17^,333

73

$8,798,167

Paper rediscounted secured by
Government e o l l a t e r a l

U3

1,027,505

111

2,739,509

209

5,77^,191

318

8,37^,228.

Commercial paper and acceptances
rediscounted
Mount o f c o l l a t e r a l held to
secure loans
• .




5,029,000

'

5,379,000

Cincinnati - 9 ~
CLEARING AND COLLECTION DEPARTMENT:
Average number and amount o f items handled
d a i l y during periods December 16, 1919 to March 15, 1920 and March 16
to June 15, 1920*
Dec. l6-March 15
March l6-June 15
Number Amount
Number Amount
5,500 $6,138,942 5,488 $6,044,000
335
123,118
372
148,600

Items drawn on banks in branch c i t y
Items forwarded to head o f f i c e
.
Items forwarded to other branch-' 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 othor 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 or branches
Items drawn on Treasurer of U. S.

20

24

89,281

3,818,517 27,571

24,924

76,429

3,673,343

212
261
1,213

TOTAL

73,211
297,737
133,500

237
298
1.736

70,089
433,380
168,512

32,465 10,658,454 3 5,726 10,627,205

CORRENCI RECEIPTS AND SHIHdENTS:Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, 1920:
January 1-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch T o t a l Branch Branch T o t a l
City
City
City
City
( i n thousands of d o l l a r s )
Currency rocoived From member banks
From non-member banks
Total
Currency shipped or delivered To member "banks
To nov-member banks
Total
Excess receipts
Excess

shipments




4,818
§5

2,044
l60

6,862
185

5,7l4
26

2,225
10

7,939
H6

MU3

2,20U

7,0^7

5,750

2,235

7,985

3,215
25

2,823
U2

6,038
67

2,933
«

3,615
5

6,548
zl

3,2^

2,865

6,105

2,969

3,620

6,589

9^2

2,781

1,603
-

66l

-

-

1,385

1,396

?ri!TSBURGH BRANCH
of the
FEDERAL RESERVE BANK OF CLEVELAND
Opened for "business - - April 22, 1918.
DIRECTORS:
J„D« Gallery
Chairman of Board, Da que sne Li^ht Co. Pittsburgh,Pa.
Chas. W. Brown
President, Pittsburgh Plate Glass Co.,Pittsburgh,Pa.
R.B« Mellon
Vice President,Mellon National Bark Pittsburgh,Pa.
Harrison Nesbit,
President, Bank of Pittsburgh, N.A^ittsburgh,Pa.
George DeCamp
Manager, Pittsburgh .Branch

-10-

Home Address
4875 Ellsworth Ave.,
Pittsburgh,Pa.
Sewickley, Pa*
6500 F i f t h Ave. f
Pittsburgh,Pa.
4716 Wallingford St.
Pittsburgh,Pa.
88 King Edward 3$ts,
Pittsburgh,Pa.

Meetings: Regular meetings are held on the Tuesday preceding
the f i r s t Friday of each month. Special meetings are subject
to the c a l l of the Manager, at the direction of the Federal
Reserve Bank of Cleveland or upon the written request of two
directors.
EXECUTIVE COMMITTEE:

None.

Executive business conducted by a majority of the
directors.

Three officers and 153 employees (June 30, 1920)1
Those portions of Pennsylvania and West Virginia included
i n D i s t r i c t No* 4 .
MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of branch
310
7
$93,480,000 $46,900,000 $799,160,000 $191,043,000
PERSONNEL:
TERRITORY ASSIGNED:

May 4,1920

312

22

101,435,000

56,024,000

PAR LIST:
Number of non-member banks on par l i s t At opening of branch - - - - June 30,1920
Total number of non-member banks i n branch
t e r r i t o r y June 30,1920, not on par l i s t

929,258,000

265,952,000

160
226
None

POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries no deposit accounts. A l l amounts received
on deposit are transmitted daily by telegraph or otherwise to
the Federal Reserve Bank of Cleveland for credit to the accounts
of the depositing banks.
Government. Receives deposits for U.S. Treasurer's credit, 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 Office daily*




Pittsburgh - 88 Discount and open market operations - Carries no earning assets- Member banks1
c o l l a t e r a l notes, applications for loans and discounts^ 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 action
a f t e r examination at Branch for technical defects.
Credit upon the date of receipt of acceptable paper i s arranged by
telegraph with the Head Office
in a l l cases where member banks
desire such credit i n order to meet unexpected debits i n their reserve accounts, and for other purposes• I n cases where notes are
collateraled by U. S. securities, Branch holds c o l l a t e r a l and f o r wards notes to parent bank w i t h trust receipt showing amopnt 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 with the parent bank.
Clearing and Collection Department - Operates a c i t y and foreign collection department for the handling of bonds, coupons, notes, trade acceptances, time, a r r i v a l and b i l l of lading d r a f t s , insurance and
railroad vouchers, c e r t i f i c a t e s of deposit, checks and bank d r a f t s .
A l l banks i n Branch t e r r i t o r y are on par l i s t and remit direct to
Branch. Handles about U7,000 items d a i l y .
Clearing House - Has a complementary and limited membership i n the
Pittsburgh Clearing House Association w i t h the privilege of clearing checks and drafts and other items which are clearable through
the Pittsburgh Clearing House, but has no voice i n the managements
Currency Receipts and Shiraents - During the 6 months ending June 30, currency
receipts and shipments were over 170 per cent of those of the
Head O f f i c e .
Telegraphic Transfers - Makes wire transfers for member banks i n Branch t e r r i t o r y .
Fiscal Agency - Makes conversion, exchanges and interchanges of a l l issues of
Liberty loan Bonds and Victory Liberty Loan notesPrivate Wire System - Telegraphs daily to parent bank amounts of a l l items r e ceived for immediate credit or immediate debit to members or other
Federal Reserve banks; also amounts of a l l deposits, enabling
Head Office to include i n i t s accounts a l l Branch figures each day.
Monthly r e n t a l for Branch l i n e between Cleveland and Pittsburgh,
$320. Salaries paid operators, $310.
BANE PREMISES:




On March 1, 1920, purchased Second National Bank Building, i n
which had formerly rented quarters and vault space.

Pittsburgh - 12 EARNINGS AND EXPENSES
Monthly average f o r periods January 1 to March 31 and A p r i l 1 to June 30* 1920.
Jan.l—Mar .31
Earnings

- -

A p r i l 1—June 30

A l l earning assets carried on books of
Head Office*

Salaries
Other operating expenses
F . R. currency
Furniture and f i x t u r e s
(Transit
i o t a l
(Other

$lU,590
5,572
277
812
10,^2
10,759 $21,151

- -

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

$15,601
6,881
265
2.820
11,9^1
13,626 $25,567

50*0$

^7*2$

CHARACTER AND VOLOME OF BUSINESS HANDLED
DEPOSITS:

Branch carries no deposit accounts. Average cash balances based on
Friday night figures for periods .January 1 to March 31
$11,095,000
A p r i l 1 to June 30
12,3^3,000

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Branch carries no earning assets. Applications for discounts are forwarded to Head Office for f i n n l action.
Vol-qne of paper transmitted to Main Office*
Jan. 1 to Mar. 31.1920.
Monthly Average
Number
Amount

Anr. 1 to June 30.1920*
Monthly Average
Number
Amount

Member bank not3S secured by
Government c o l l a t e r a l

20k

Paper-rediscounted secured by
Government c o l l a t e r a l

28

U, 123,673

10

2,^50,1*51

1U2

7,5^9,693

115

5,031,63*1*

Commercial paper and acceptances
rediscounted
Amount of c o l l a t e r a l held to
secure loans
. . .




$100,789,016.

39,952,695-'

177

.

$88,1&8,833..

33,^70,6V).

Pittsburgh - 13 CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
daily during periods December l 6 , 1919 to March 15, 1920 and March
l6% to.June 15,1920^
Dec. 16 - March 15 March l6-June 15
Number
Amount
Number
Amount
11,**98 $11,717,029 12,389 $12,026,589
817
188, U22
903
263,806

Items dram en banks in branch c i t y
Items forwarded to head office
Items forwarded to other branch in
this district
223
Items drawn on banks in this d i s t r i c t outside
of P. H. bank and branch c i t i e s
27,936
Items forwarded to other F. R. banks
and branches
2,272
Items drawn on Treasurer of U. S.
lr023
TOTAL

^3,769

102,7^1

2^9

73,513

3,898,^07 2 9 , ^ 9

%263,WO

1,818,930
308. l6U

1,822,117.
278,308

2,U6U
1,588

18,033,69^ ^7,0U2

18,727,^85

CURRENCY RECEIPTS AND SHIHflENTS: Monthly average for periods January 1 to March 31,
and A p r i l 1 to June 30, 1920:
January 1-March 3 1
A p r i l 1-June 3'0
3h Outside
In
Outside
Branch Branch Total Branch Branch. Total
City
City
City
City
( i n thousands of dollars)
Currency received Fran member banks
From non-member banks

l6,U72
18

Total
Excess shipments




,

20,029
15

U,901
108

2^,930
123

3,570

20,060

20,oW*

5,009

25,053

17,72H
18

7,^5
11

25,169
29

20,171
23

8,666

28,837
24

17,7^2

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

19,96U
96

16,1*90

Total

3,^92
78

7,^56

25,198

20,19**

8,667

28,861

1,252

3,886

5,138

150

3,658

3,808

ik

BALTIMORE BRANCH
of the
FEDERAL RESERVE BANK 0? RICHMOND
Ojpened for business

March 1, 1918,
Home Address
Baltimore,
Md.

DIRECTORS:
Morton M« Prentis,
Manager, Baltimore Branch
Charles C. Hcmer, J r . ,
President, Second National Bank and Savings
Bank of Baltimore.

Baltimore,
Md*

X!± lliam Ingle,
President, Baltimore Trust Company

Baltimore,
Md.

T7aldo Newcomer,
President, National Exchange Bank

Baltimore,
Md.

H. B. Wilcox,
Vice President, Merchants-Mechanics F i r s t N a t f l . Bank

Baltimore,
Md*

Regular meetings are held on the second and fourth Tuesdays of
each month*
EXECUTIVE COMMITTEE:

Manager, Cashier and one D i r e c t o r . Meets d a i l y to examine
offerings for discount submitted by member banks.

PERSONNEL:

Three o f f i c e r s and 139 employes (June 30, 1920)

TERRITORY ASSIGNED:

At opening of Branch, the State of Maryland• Since Sept. 1,
1919, the State of Maryland and the following counties i n
West V i r g i n i a :
Barbour
Berkeley
Braxton
Calhoun
Doddridge
Gilmer

Grant
Hampshire
Hardy
Harrison
Jackson
Jefferson

Lewis
Marion
Mineral
Monongalia
Morgan
Nicholas

Pendleton
Pleasants
Preston
Randolph
Ritchie
Roane

Taylor
Tucker
Upshur
Webster
Wirt
Wood

MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of Branch
95
3
$28,557,000 $U,600,000 $221,522,000 $29,936,000
May U,1920 150
9
38,592,950 5,376,500 362,704,000 UU,llU,000
PAR LIST:
Number of non-member banks on par l i s t At opening <of Branch
June 30, 1320

58
268

Total number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t

None




Baltimore - 15POWERS -AND JUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks* Carries reserve accounts of banks assigned to d e a l
w i t h Branch.
- Government. Keeps Government account apd receives and disburses
Government funds* Since Jan. 15, 1920, has been redeeming Government coupons and warrants, charging amount of same to account of
Treasurer of U* S- and forwarding cancelled coupons and warrants
to Washington. Receipts and disbursements of Government funds
for 6 months ending June 30, 1920, aggregated $69,691,000 and
$96,780,000, respectively* Excess disbursements were made from
funds transferred from Richaond o f f i c e •
Discount and open market operations - Receives from and holds for 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 , offerings
of b i l l s , notes, and other instruments of credit e l i g i b l e for
discount or purchase by a Federal Reserve bank and transmits
records of sane to parent bank w i t h appropriate reccmmendation.
Immediate credit 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- Holds securities pledged by
member banks' as c o l l a t e r a l f o r loans, war loan deposits, or as
marginal c o l l a t e r a l .
Clearing and Collection Department - Operates department for clearing and
c o l l e c t i n g checks payable upon presentation, also for the coll e c t i o n of maturing notes and b i l l s . Handles about 40,000 items
d a i l y - Baltimore banks and a few country banks route d i r e c t about
4,000 items d a i l y f o r c r e d i t a t Branch Gold Settlement Fund - Branch telegraphs F. R« Board d a i l y for s e t t l e ment through Gold Fund amounts collected for the account of each
other F . R. Bank. Maintains deferred c o l l e c t i o n accounts with
each other F - R. Bank and d i r e c t s e t t l i n g Branch.
Clearing House - A l l members of Baltimore Clearing House are members
of F - R. systea, and clearing house balances are paid by debit or
c r e d i t entries to reserve accounts on the books of the Branch.
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 ,
the amount on hand w i t h the Assistant Federal Reserve Agent on June
30, 1920, being $5,310,000- During the 6 months ending June 30,
currency receipts were s l i g h t l y less and currency shipments about
150 per cent of 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 <5f member banks. Trans fete by Branch for member
banks' from Jan. 1 to June 30, 1920, aggregated $278,321,000 r e presenting 5,224 t r a n s f e r s .
»

Private Wire System - On main l i n e from Washington to Boston, New York and
Philadelphia; also on p r i v a t e l i n e between Baltimore and Richaond.
Branch i s assessed i t s prorata share of expenses. Salaries paid
operators, $275* Menber banks 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.
BANK PREMISES: Purchased building formerly occupied by the National Mechanics
Bank at cost o f $200,000


Baltimore - 16 EARNINGS AMD EXPENSES
Monthly average for periods January 1 to March 31 and A p r i l 1 to June 30, 1320.
Earnings

- -

A l l earning assets carried on hooks of Head
Office.
Jan.l-March 31
A p r i l 1-June 30

.Current Expenses:
Salaries
Other operating expenses - F. R. Currency
Furniture and fixtures
Total ( ^ a n s i t
°
(Other

$12,838
3^7
UT183
7,269
„
15,5^7 $22,816

- -

Ratio of transit department expenses to current
expenses exclusive of cost of F.R. currency

32-*$

$18,904
5*976
3^8
2.7Uq
8,163
19,814 $27,977
29^5$

.CHARACTER AND' VOLUME OF BUSINESS HANDLED'
DEPOSITS:

Average d a i l y deposits based on Friday night figures, for periods
Jan. 1 to March 31 and A p r i l 1 to June 30, 1920.
Jan. l-Mar.31

Member'banks1 reserve account
U- S- Government - General Account
Deferred a v a i l a b i l i t y items

$18, Hi1*, 000
1,821,000.
(bill'Ss'OOO)

- - --

$18,200,000
1,797,000
1^,378,000

23^000

Other deposits
Deductions from gross deposits:
.Uncollected Items -

Anr. 1-June 30

12.000

$lU,380,0.00

$16,557,000

(a) Includes - (b) Excludes - Gold Settlement Fund - Suspense credits carried
prior to March 1, 1920, since which date;' settlement has been made
through the Gold Fund on day items are collected •
Member Banks1 balances:

State bank and trust company members, Mar.5,

Reserve Balance
with Branch
$2,246,500

Payment - a/c
c a p i t a l stock
with head o f f i c e
$
157,300

1920
A l l member tanks, March 31, 1920




17,558,200

1,331,800

Baltimore - 17 VOLUME OF PAPER DISCOUNTED AMD BOUGHT; Monthly average for periods January 1 to
March 31 and April 1 to June 30, 1920Jan.l-Mar.3i

April-June 30

Discounts for member "banks National hanks
State hanks and trust companies

$88,244,2199*801,57^

$69,924,950
4,059,033

Acceptances bought i n open market

932, 000

1:620,175

98,977,793

*5,6o4,156

48,556,9*9

4l f S36 f 236

Total discounted and purchased b i l l s - Average daily b i l l holdings

Amount of a l l paper discounted and bought is transferred daily to the
books of the Head Office.
CLEARING AND COLLECTION DEPARTMENT: Average numW and amount of items handled
.daily during periods December 1& 1919, to March 15, 1920, and March 16
to June 15, 1920:

TOTAL

March l6-June 15
Number
Amount
7,548 $7,024,774
389
392,717

20,764

2,501,497

25,562

6,017
l f l4«5

4,453,528
284.641

6,290 4,802,929
P. 181
4g6,S7Q

35,394 13,958,706

Items dram on banks in Branch c i t y - Items forwarded to Head Office
Items drawn on banks i n this D i s t r i c t ,
outside F.R. Bank and Branch c i t i e s Items forwarded to other E. R* Banks
or Branches - - Items drawn on Treasurer U* S.

Dec .l6-March 15
Number Amount
7,124 $6,314,217
344
444,823

41,970 15,854,459

3,207,460

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31 and April 1 to June 30, 1920:
January 1-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch Total Branch Branch Total
City
City
City
City
( I n thousands of dollars)
Currency received Erom member banks
From non-member banks

U91

6,659
Currency shipped or delivered:
To manber banks
— To non-member banks - — - - Total
Excess shipments



617

7,276

7,217

6,55^

776

7,330

10,816

- —

-

7,878
257

918

8,135

S09 11,625
5

6,554
6,55**

Excess receipts

661
253L

7,150
i?6

7,217

M

6,659

779

7,333

10,816

10^

105
_

8iU 11,630

162

57

3,599

-

3,^95

BIRMINGHAM BRANCH
-1&-

of the
FEDERAL RESERVE BANK OP ATLANTA
Opened for "business

Aug. ,1, 1918.
Home Address
Birmingham,
Ala.

DIRECTORS:
W. H. Kettig,
Sou* Rep. Crane Company
Oscar tfells,
President, F i r s t National Bank, Birmingham

Birmingham,
Ala.

T. 0 . Smith,
Vice President, Birmingham Trust and Savings Co.

Birmingham,
Ala.

W. W. Crawford,
President, American Trust and Savings Bank, Birmingham

Birmingham,
Ala.

John H. Erye,
President, Traders National Bank, Birmingham

Birmingham,
Ala.

Meetings - Tuesday preceding f i r s t Friday i n each month.
DISCOUNT COMMITTEE:

None.

Offerings forwarded to Head Office for approval.

PERSONNEL:

Manager, A. E- Walker, two other officers and 19 employes
(June 30, 1920)

TERRITORY ASSIGNED:

That part of the State of Alabama north of the A. & W. P.
Railroad and Western Railway of Alabama between Atlanta
and Montgomery and west of the L. & N* Railroad between
Montgomery and Mobile, except Mobile and Baldwin counties.

MEMBER BANKS IN BRANCH
TERRITCRY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
,At opening
$67,911,000 $21,708,000
of Branch
46
4
$8,991,650 $2,098,000
89,924,000
20,200,000
May 4, 1920
53
8
10,220,000 2,267,000
PAB LIST:
Number of non-member banks on par l i s t At opening o f Branch
June 30, 1920
Total number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t —




25
4o
ll4

Birmingham - 19 POWERS AND JUNCTIONS EXERCISED BY BRANCH:
Deposits - Member hanks* Carries no deposit accounts. A l l amounts received on^
deposit are transmitted daily "fay telegraph or otherwise to
the parent hank for credit to the accounts of the depositing
banks *
- Government. Carries no direct Government deposits. Receives and
disburses Government funds for account of Head Office • Forwards d a i l y transcript to Washington, Head Office assuming
d a i l y net debit or c r e d i t .
Discount and open market operations
Receives and transmits to Head Office
e l i g i b l e paper offered for discount or purchase by banks i n
Branch t e r r i t o r y * Offerings are telegraphed to Head Office
and credit is given immediately, subject to charge back of
i n e l i g i b l e items*
Clearing and Collection Department - Operates department for clearing and collecting checks and drafts, also other items collectible
through a Reserve bank. Handles about 9,650 items daily,
or approximately UU per cent of the number handled by the.
Head Office.
Clearing House - Membership limited to clearing of checks.
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 . During the 6 months ending June 30, currency
receipts equalled about Uo per cent and currency shipments
about Ul per cent of those of the Head Office.
Telegraphic -Transfers - Makes telegraphic transfers direct to and frcm other
d i s t r i c t s for the account of member banks.
Private Wire System - On Branch line Atlanta-Bimingham-New Orleans; monthly
r e n t a l $5^5
. Salaries paid to operators $100.
BANK PREMISES -




Occupies quarters and has vault space i n Jefferson
County Bank Building; r e n t a l $U50 per month.

Birmingham - 20 EARNINGS AND EXPENSES
Monthly average f o r periods January 1 to March 31 and A p r i l 1 to June 30, 1920.
Earnings

A l l earning assets carried on hooks
of Head O f f i c e .
Jan ^I—March 31

Current expenses:
Salaries
.
Other operating expenses
P. R* currency
Tax on F.R. Bank note circulation
Furniture and f i x t u r e s
Total (Transit
(Other

$2,799
3,w6
1,^39
569
52
2,702

A p r i l l « J u n e 30
$3,755
2 798

lU f
. gi

$8,265

Hl6
298
2,753
6 T 0 l l $8,764

Ratio of t r a n s i t department expenses to current
expenses exclusive of cost of F.R. currency
^3-2$

Ho.2$

CHARACTER AND VOLUME OF BUSINESS HANDLED.
DEPOSITS:

Branch carries no deposit accounts. Average cash balances based on
Friday night figures f o r periods January 1 to March 31, 1920
A p r i l 1 to June 30, 1920

$1,105,000
895,000

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Branch carries no earning assets. Applications for discounts are forwarded to Head Office for f i n a l action.
Monthly average of paper transmitted to Head Office f o r periods -




January 1 to March 31, 1920
A p r i l 1 to June 30, 1920 -

3^3,000
6,760,000

Birmingham -

- 21

CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during periods December l 6 , 1919 to. March 15, 1920 and March
16 to June 15, 1920:
Dec. 16—March 15
Number
Amount
Items drawn on banks i n Branch c i t y
Items forwarded to Head Office
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 forwarded to other F. R. banks
or branches
Items drawn on Treasurer of U. S.
Total

-

March lS—June 15
Number
Amount

1,636 $921,538
780 1,737,565
337

$1,005, ^21
1,636,942

306

131,360

,
63U
UUU

139,808

5,671

1.6W689

575,053
,
U77.865
57,175

618,208

666
^

U20.52U
IS V. 757

- - 9,633 3,971,UOO

9,120

3,8$5,8lU

CDEEENCT RECEIPTS AND SHIPMENTS: Monthly average f o r periods January 1 to March
31, and A p r i l 1 to June 30, 1920:

Currency received:
Fran member banks Frcm non-member banks
Total
Currency shipped or delivered:
To member banks

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
( I n thousands of dollars)
_
„ „
_
1,966
913
2,879 2,828
826
3,65*
738
102.
Wl
858
—§55
2.70U

1,016

3,720

3,686

826

U,512

2,178

8U2

3,020

2,422

259

2,681

-

Ul

To non-msmber banks - — — — — - —
Total
Excess receipts




-

2,178
526

-

.

^

3,020
17^

2,U63

259

2,722

700

1,223

567

1,790

ui

JACKSONVILLE BRANCH
-22-

of the
FEDERAL RESERVE BANK OF ATLANTA
Opened for business

August 5» 1918-

DIRECTORS:
J . C. Cooper,
Attorney-at-Iaw

Home Address
Jacksonville,
Florida.

Fulton Saussy,
F. Saussy Company, Merchandi seBrokers

Jacksonville,
Florida.

E* W. Lane,
President, Atlantic National Bank, Jacksonville

Jacksonville,
Florida.

B* H. Barnett,
President, Barnett National Bank, Jacksonville

Jacksonville,
Florida.

Giles L. Wilson,
Vice President, Florida National Barik, Jacksonville

Jacksonville,
Florida.

Meetings - Tuesday preceding f i r s t Friday in each month.
DISCOUNT COMMITTEE:

None. Offerings forwarded to Head Office for approval.

PERSONNEL: Manager, Geo. R. De Saussure, two other officers and 27 employes
(June 30, 1920)
TERRITORY ASSISTED:

State of Florida*

MEMBER BANKS IN BRANCH
TERRITORY:
^ NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At. opening
of Branch
59
5
$10,001,650 $1,U53,350 $88,205,000 $9,6l4,000

May Hf 1920

53

9

10,729,000

2,033,000

13 5, S{?% 000

PAR LIST:
Number of non-member banks ,jon par l i s t At opening of Branch
June 30, 1920
Total number of noiwnember banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t —




38
6l
135

18,800,000

Jacksonville - 23 POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks- Carries no deposit accounts. A l l amounts received
on deposit are transmitted daily by telegraph or otherwise to the
parent bank for c r e d i t to the accounts of the depositing banks.
- Government. Carries no d i r e c t Government deposits. Receives and
disburses Government funds for account of Head O f f i c e . Forwards
d a i l y transcript to Washington, Head Office assuming d a i l y net
debit or c r e d i t .
Discount and open market Operations - Receives and transmits to Head Office
e l i g i b l e b i l l s offered for discount or purchase by banks in Branch
t e r r i t o r y * Offerings are telegraphed to Head Office and credit 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 a clearing and collection department for handling a l l items c o l l e c t i b l e through a Reserve bank*
Handles about 9 f 389 items d a i l y , or ^proximately ^3 per cent of
the number handled by the Head O f f i c e .
Clearing -House - Membership i n Jacksonville Clearing House Association
limited to clearing of checks.
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 .
During the 6 months ending June 30, 1920, receipts equalled about
38 per cent and currency shipments about UU per cent of those of
the Head Office.
Telegraphic Transfers - Makes d i r e c t telegraphic transfers to and f r a n other
d i s t r i c t s for the account of member banks.
Private Wire System - On Atlanta^ Jacksonville branch l i n e , monthly r e n t a l $662•
Salaries paid to operators $135 •
BANK PREMISES - Occupies quarters and has vault space i n the Heard National Bank
Building, monthly r e n t a l $500.




Jacksonville - 24 EAjETIVGS AND EXPENSES
Monthly average for periods January 1 to March 31 #
Earnings

- -

A p r i l 1 to June 30,1920.

A l l earning assets carried on books of
Head Office.
Jan. 1-March 31

Current expenses.
Salaries
.
Other operating expenses
F. R. Currencv
Tax on F.R. bank note circulation
Furniture and fixtures

A p r i l 1-June 30

$3,367
3,64b
1,335
560
303

Total

$4,650
3,550
1,50S
U3I
204

(Transit
3,078
(Other - 6,133 $9>211
Ratio of transit department expenses to current
expenses exclusive of cost of F.R. currency
42-1$

3.010
7,333

$10,3^3
35

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Branch carries no deposit accounts. Average cash balance, based on
Friday: night figures, for periods January 1 to March 311 1920
$¥,536,000
A p r i l 1 to June 30, 1920 - 1,401,000

VOLUME OF PAPER DISCOUNTED AND BOUGHT• Branch carries no earning assets.
Applications for discount are forwarded to Head Office for f i n a l action*
Monthly average of paper transmitted to Head Office for periods 1
January 1 to March 31, 1920
- - $5,909,000
A p r i l 1 to June 30, 1 9 20
6,246,000
CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
daily during periods December 16, 1919 to March 15, 1920 and March 16
to June 15, 1920.
Dec.l6-I.iarch 15
Number Amount
l , 6 s 6 $919,188
212
55,507

Items drawn on banks i n Branch c i t y
Items forwarded to Head Office
Items foiwarded to other branches
i n this d i s t r i c t
98
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 - - - 5,349
Items forwarded to other F*R. banks
or branches
1,699
Items drawn on. Treasurer of U.S.
345
Total



March 16—June 15
Number Amount
l , 4 l 6 $929,827
257
74,538

28,378

105

24,509

703,837

4,964

709,156

^17,502
79*252

1,424
374

370,833
6l,6l7

9.383 2,203,664

8,540 2,170,480

Jacksonville -

-

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods Jan. 1 to March 31,
and April 1 to June 30, 1920.
Jan.l-March 31
A p r i l 1-June 30
In
Outside
Outside
In
Branch Total
Branch Branch Total Branch
City
City
City
City
( I n thousands of dollars)
Currency received:
Fran member hanks
Fran non-member banks




p

791 3,13^
38

1,303

U,75^

2,3^3

829

3,172

2,099

1,193

3,292

1,530

1,058

2,888

1,193

3,292

1,830

1,058

2,888

1,352
Excess shipments

2,3^3

2,099

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

1,1SU M 3 5
H9
119

3,^51

Total

3,^51

110

1,U62

513

-

-

-

-

-

229

2Zk

NASHVILLE BRANCH
-26.

of the
FEDERAL RESERVE BANK OF ATLANTA.
Opened for "business October 21, 1919 •

Heme Address
Nashville,
Tenn.

DIRECTORS:
W* H. Hartford,
Hartford Hosiery Company, Nashville
P* H. Davis,
Vice President, American National Bank, Nashville

Nashville,
Tenn.

J . E* Caldwell,
President, Fourth and F i r s t National Bank, Nashville

Nashville,
Tenn.

E . A. Lindsey,
President, Tennessee Hermitage National Bank, Nashville

Nashville,
Tenn.

T. A. Bnbry,
President, Farmers National Bank, Winchester

Winchester,
Tenn.

Meetings - Tuesday preceding the f i r s t Friday i n each month.
EXECUTIVE COMMITTEE:

None.

Offerings are forwarded to Head Office for approval*

PERSONNEL: Manager, J . B. McNamara, two other officers and 28 employes
(June 30, 1920)
TERRITORY ASSIGNED:

That part of Tennessee within the Sixth Federal Reserve
D i s t r i c t except the City of Chattanooga.

MEMBER. BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL
RESOURCES
National Non-National National Non-National National Non-National
At opening
of Branch
8J
1
$14,272,000 $250,000
$147,051,000 $2,34l,000
May 4, 1920
81
1
14,894,000
250,000
156,936,000
2,261,000
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1920

78
138

Number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t —

137




Nashville - 27 POWERS AND KJNCTIONS EXERCISE® BY BRANCH:
Deposits - Member banks. Carries no deposit accounts. A l l accounts received
on'deposit are transmitted d a i l y by telegraph or otherwise to the
parent bank for credit to the accounts of the depositing banks.
- Government. Carries no direct Government deposits. Receives and
disburses Government funds for account of Hesd Office* Forwards
d a i l y transcript to Washington, Head Office assuming daily net
debit or credit•
Discount and open market operations - Receires and transmits to Head Office
e l i g i b l e paper offered for discount or purchase by banks i n Branch
t e r r i t o r y . Offerings are telegraphed to Head Office and credit i s
given immediately, subject to charge back of i n e l i g i b l e paper.
Clearing and Collection Department - Operates department for clearing
and collecting checks and drafts, also other items collectible
through a Reserve bank. Handles about 11,35^ items d a i l y , equal
to approximately 55 per cent of the ntmber handled by the Head
Office.
Clearing House - Membership limited to clearing of checks.
Currency Receipts and Shipments - Carries an adequate supply of Federal Reserve
notes to meet a l l currency requirements of baiiks in Branch t e r r i t o r y .
During the 6 months ending June 30, currency receipts equalled about
19 per cent and currency, shipments 22 per cent of those of the
Head Office.
Telegraphic Transfers - Makes telegraphic transfers direct to and from other
d i s t r i c t s for the account of member banks.
Private Wire System - On Branch l i n e Atlanta-Nashville; Monthly r e n t a l $568." .
Salaries paid to operators $90
BANK PREMISES:




Occupies quarters and has vault space in Fourth and F i r s t National
Bank Building; monthly r e n t a l $250-'

Nashville - 2S EARNINGS AND EXPENSES

Monthly average for periods January 1 to March 3 1 and A p r i l 1 to June 30, 1920.
assets
Earnings
- ~
A l l earning/ carried on hooks
of Head Office.
Jan.l—March 31
Current expenses:
Salaries
*
Other operating expenses — 4F . R. currency Tax on F.Ri bank note circulation
Furniture and Fixtures
Total (Transit —
(Other

A p r i l l~June 30

$2,873
2,663
1,251
530
.002
3,025
5 , 1 $ $8,219

*
- —

Ratio of t r a n s i t sxpensesto current expenses
exclusive of F. R. currency

$3,952
3,319
1,380
69;
3,753
6,009 $9,762

U7.0#

*J7-3$

CHARACTER AND VOLUME OF BUSINESS HANDLED.
DEPOSITS:

Branch carries no deposit accounts. Average cash balances based on
Friday night figures for psrioas January 1 to March 31, 1920.
A p r i l 1 to June 30, 1920

$626,SUo
718,920

VOLUME OF PAPER DISCOUNTED AND.BOUGHT: Branch carries no earning assets. Applicationlyare forwarded to Head Office for f i n a l action.
Monthly average of paper transmitted to Head Office for periods Jan. 1 to March 3 1
A p r i l 1 to'June 3 0 -

$U6,912,000
U7,196,000

1

CLEARING AMD COLLECTION DEPARTMENT: Averate number and amount of items handled
d a i l y during periods Dec. 16, 1919 to March 15, 1920 and March 16
to June 15, 1920.
Dec.l6-March 15
March l6-June 15
Nanber
Amount
Number
Amount
2,29^ $1,5^6,813
2,058 $1,562,572
252
87,369
213
58,366

Items drawn on banks i n branch c i t y
Items forwarded to Head Office
Items forwarded to other branches i n
this district
213
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 - - 7,282
Items forwarded to other F.R.banks
or branches
923
Items drawn on Treasurer of U. S;
^QO




Total

11,354

222

%

23,056
,
991,675

7,75^

26,71*
.
1,039,9*2

356,521
76.qoU

1,028
U78

251, l 6 l
52^799

3,082,333

11,753

2,991,55^

%

Nashville - 2 5

-

3URRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to
March 31, and April 1 to June 30, 1920In
Branch
City

Jan.l-March 31
A p r i l 1-June 30
Outside
In
Outside
Branch Total Branch Branch Total
City
City
City
( I n thousands of dollars)
#

Currency received:
From member hanks
From non-manber hanks
Total
Currency shipped or delivered:
To member hanks
To non-member banks Total

1,600
-

125
-

x
1,785
-

1,936
-

273
-

2,209
-

1,600

185

1,785

1,936

273

2,209

1,099
-

319
-

1,^18
-

1,294
-

313
-

1,607
-

1,099

319

1,^18

1,294

313

1,607

367

642

Excess receipts

501

Excess shipments

-




134

-

4o

602

NEW ORLEANS BRANCH
-30-

of the
FEDERAL RESERVE BANK OF ATLANTA
(Jpened for business - - September 10, 1915
DIRECTORS:
P. H- Saunders,
Banker

Heme Address
New Orleans,
Louisiana*

A. P- Bush,
Wholesale Grocer

Mobile,
Alabama.

J . E. Bouden, J r . ,
Banker

New Orleans,
Louisiana.

F# W. Foote,
Banker

Hattiesburg,
Miss.

R. S- Hecht,
Banker

New Orleans,
Louisiana*

H. B. Lightcap,
Banker

Jackson,
Miss.

Marcus Walker,
Manager, New Orleans Branch

New Orleans,
Louisiana*

Meetings - The f i r s t Thursday i n each month.
DISCOUNT COMMITTEE:

Manager and three Directors.

PERSONNEL:

Pour officers and 6k employes (June 30, 1920)

TERRITORY ASSIGNED

Ihose parts of the States of Louisiana and Mississippi
located i n the 6th District,and the counties of Mobile
and Baldwin i n Alabama*

MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Norv-National National Non-National
At opening
of Branch
27
$13,008,350
$67,933,000
May U, 1920
39
16
15,^32,000 $17,707,000 151,831,000 $18U,3U3,000
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch - June 30, 1920
Total number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t



51
219

New Orleans - 31 POYJERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks- Carries reserve and clearing accounts of banks and
trust companies i n Branch t e r r i t o r y .
- Government. Carries Government account without specific authorized
l i m i t . Receives and disburses Government funds. Forwards d a i l y
transcript to the Treasurer of the United States.
Discount and open market operations - Rediscounts e l i g i b l e paper for member
banks and buys acceptances i n the open market for i t s own account .
Clearing and Collection Department - Operates department for clearing and collecting checks and drafts; also other items collectible through a
Reserve bank. Handles about 10,050 items daily, or about U5 per
cent of the number handled by the Head Office.
Gold Settlement Fund - Telegraphs the Federal Reserve Board d a i l y
for settlement througla the Gold Fund, amounts collected for the
account of other Federal Reserve banks.
Clearing Honsa - Membership limited to clearing of checks.
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 .
During the 6 months ending June 30, currency receipts and shipments equalled about 75 per cent of those of the Head Office.
Telegraphic Transfers - Makes telegraphic transfers to and from other d i s t r i c t s
for the account of member banks.
Fiscal Agency Operations - Acts as Fiscal Agent for the U. S. Government, performing the same functions as those exercised by the Head Office.
"Private ^ i r e System - On branch line between Atlanta, Birmingham and New Orleans.
Monthly r e n t a l $5^5* Salaries paid operators $125BANK PREMISES:




Purchased building of Cannercial Bank and Trust Company a t a cost
of $236,250.
Occupies temporary quarters i n the United States Trust and Savings
Bank Building a t a monthly, r e n t a l of $350.

New Orleans - 3 2 EARNINGS MD EXPENSES
Monthly average for periods January 1 to March 3 1 and. A p r i l 1 to June 30,1920.
January 1-March 3 1
Earnings (Gross)

A p r i l I-June 30

$162,5^2

Current Expenses:
Salaries
'
Other operating expenses
P. R. currency
Tax oa P. B. banknote c i r c u l a t i o n
Furniture and f i x t u r e s
„ . . (Transit
Total
(Other
Net earnings

$252,986

-

18,598

.
.
$9,516
7,227
U,000
1,085
^00
2,^90.
19,738
>22,228

lU3,9^

$7,3^6
5,*H0
U,070
1,67^
Q8
2,U6l
16,137

230,758

«

Ratio of transit department expenses to
current expenses, exclusive of cost of
I \ R- currency

.
19-1$

CHARACTER AND VOLUME OE BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, "based on Eriday night figures for periods*
January 1 to March 31, and A p r i l 1 to Juns 30, 1920:

Member hanks1 reserve account
Due to Head Office
U*S* Government - general account
Deferred a v a i l a b i l i t y items (q)
Other deposits
Deductions f t cm gross deposits:
Uncollected items
'

Jan-1—March 31 A p r i l 1—June 30
$18,695,088
$16,966,870
(a)21,009,4-38
(b) 39,165,025
—
752,^05
! 5 995 911'
5,120,720
(

' 15*521*

7!U28

11,299,080

7,759,^60

(a) Maximum amount due to Head Office $32,011,396
March 26, 1920
Minimum amount due to Head Office l l , U 8 1 , 3 w
January 9, 1920
(b) Maximum amount due to Head Office U5,003,980
May 7, 1920
Minimum amount due to. Head Office 33,192,799
April 9t 1 9 2 0 •
(c) The larger figure for the period Jan. 1 to March 3 1 includes Gold
Settlement Eund - Suspense credits carried prior to March 1, 1920,
since which date settlement through Gold Fund has been made on date
of c o l l e c t i o n of items*
Member_bgnks2 balances •
Reserve balance
Payment-a/c
with
c a p i t a l stock
branch
w i t h heeui o f f i c e
State bank and trust company members June
30, 1920
\
A l l member banks June 30, 1920



$9 f 76H,600
17,228,000

$536,850
99^,000

New Orleans - 33 VOIXJME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 3 1 and A p r i l 1 to Jur* 30, 1920:
Jan-l-Mar.31

$16,319,000
33,817,000
1,259,000

50,21^,000

51,395,000

36,762,000

Average d a i l y b i l l holdings

April 1-June 30

$12,832,000
33,^12,000
3,970.000

Discounts for member hanks National hanks
State hanks and trust companies
Acceptances bought i n open market
Total discounted and purchased
bills

52,1^2,000

CLEARING AND COLLECTION DEPARTMENT: # Average number and amount of items handled
d a i l y during periods December 16, 1919 to March 15, 1920 and March 16 to
June 15,^ 1920:
Dec. l6-March 15
March l 6 - June 15
.Amount
Number
Ancunt
Number
$2,483,272
$2,623,616
2,075
Items drawn on banks i n Branch c i t y - 2,196
28,690
120
2S»185
Items forwarded to Head Office
124
Items forwarded to other branches
27,930
181
27,581
i n this d i s t r i c t
178
Items drawn on banks in this d i s t r i c t
4,286
729,917
856,76s
outside of F.R.Bank and Branch cities5,047
Items forwarded to other F . R. banks
563,137
793.^5
1,469
or branches
1,852
152.564
l^UoS
Items drawn on Treasurer of U. 8. —
646
673
Total

10,043

U, 449,000

8,804

3,985,510

CURRENCY RECEIPTS AND SHITMESTTS: Monthly average for periods January 1 to March
31, and April 1 to June 30, 1920.
January l-llarch 31
A p r i l 1-June 30
lh
Outside
In
Outside
Branch Branch Total Branch Branch Total
City
City
City
City
( I n thousands of dollars)
Currency received From member banks

6,795

From non-member banks
Total - -

—
-

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



-

1,552

8,347

47

47

6,795

1,599

8,39*+

4,487

620

5,107

-

-

4,487

620

5,107

2,308

979

3,287

-

-

6,219

y

1,075

7,294

25

25

6,219

1,100

7,319

^,736

859

5,595

2

2

^,736

861

5,597

1,^83

239

0,722

-

-

SAVAMAH AGENCY
of the
FEDERAL RESERVE BANK OF ATLANTA.
Opened for business
PERSONNEL:

February H, 1919.

R. J . Taylor, Manager, R. N. Groover, Assistant Manager, and
1 employe- Agency also has 10 custodians who receive nominal
compensation only*

TERRITORY ASSIGNED:

City of Savannah, Georgia.

POWERS AND FUNCTIONS
EXERCISED BY AGENCY:
Services rendered by the Savannah Agency are at present limited to
1.

Receipt of currency from Savannah member banks for
immediate c r e d i t and paynent of currency to Savannah
member banks against immediate debit to t h e i r reserve
accounts on the books of the Atlanta Bank.

2.

The custody of documents and securities pledged as c o l l a t e r a l to b i l l s forwarded by Savannah member banks to
Federal Reserve Bank of 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 Bank, and
the Savannah Bank and Trust Company.
,

CURRENT EXPENSES: Monthly average for periods January 1 to March 31, and A p r i l 1
to June 30, 1920:
January 1-March 31
A p r i l 1-June 30
Salaries
$652
$771
Other operating expenses
365
26 S
Furniture and f i x t u r e s
22
205
Total

- ^

1,039

.

1,2UU

DEPOSITS:
Agency carries no deposit accounts. Average cash
balances based on Friday night figures for periods Jan. 1 to March 31, 1920.
Apr. 1 to June 30, 1920*

$1,093,150
SIS,000

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average f o r periods January 1 to M»xch
31, and A p r i l 1 to Juie 30, 1920:
January 1-March 3 1

A p r i l 1-June 30

( I n thousands of dollars)
Receipts
Shipments




,

976
722

95 s
675

IE2P0IT BRANCH

SaltLakeCity-35-

of the
FEDERAL RESERVE BANK OF CHICAGO
Opened for business *

Iferch IS, 1918.
Home Address
100 Palmer Avenue,
Detroit, Mich.

DIRECTORS:
John Ballantyne,
Fresident, Merchants National Batik
Emory W. Clark,
President, F i r s t & Old Detroit National Bank

17U0 Jefferson Ave.,
Detroit, Mich.

Julius H. Haass,
President, Wayne County & Heme Savings Bank

UgU
Grand B l v ' d . ,
Detroit, Mich.

Charles H. Hodges,
President, Detroit Lubricator Company

5U1 Jefferson Ave.,
Detroit, Mich.

R. B- Locke,
Manager Detroit Branch

l U l Colorado Avenue,
Highland Park, Mich.

Meetings:

Tuesday preceding the last Friday of each month.

EXECUTIVE COMMITTEE: I \ i l l Board of Directors. Meetings: Tuesday of each week.
Passes upon loans and discounts for previous weekPERSONNEL:

Five officers and 1U2 employes (June 30, 1920)

TERRITORY" ASSIGNED:

At opening of Branch, the c i t y of Detroit, including Highland
Park. Since Feb. 1, 1920, the following 19 counties i n the
State of Michigan:
Bay
Hillsdale
Ingham
Lapeer

Lenawee
Livingston
Monroe
Saginaw

MEMBER BANKS IN BRANCH.
TERRITORY:
NUMBER
CAPITAL
National Non-National National
At opening
of branch
3
10
$10,500,000
May H, 1920
33
85
19,312,05H

Sanilac
Shiawassee
Tuscola
Wayne

AND SURPLUS
Non-National

Genesee
Huron
Macomb
St * Clair
Jacks ai
Oakland
Washtenaw

TOTAL RESOURCES
National Non-National

$23,0^1,000 $106,598,071 $261,093,087
U9,728,900 226,85^,672 626,666,180

PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1920
Total number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t




7
256
-None'

Detroit - 36 POlffiRS AH) FtNCTIONS EXBBCISED BY BRA.1CH:
«

Do posit s ~ Member banks. Carries reserve accounts of menber banks i n Branch
territory®
Government. Carries no Goveriment deposits. Redeems c e r t i f i c a t e s ,
receives deposits from Collector o f Internal Revenue, pays
Goveriment checks, e t c . , but closes out balancey through Head
Office d a i l y .
Discount ani open market operations - Carries on i t s ovai books paper rediscounted f o r member banks. Open market purchases are made upon
instructions from aid for account of the Head Office.
Clearing aid Collection Department - Receives f o r colloction from other F.R.
banks aid member banks checks and other items dratan on a l l
Michigan banks i n the 7th D i s t r i c t . Also receives transit items
for collection from member banks of the Detroit d i s t r i c t .
Clearing House.- Branch has same privileges ani is aibject to
same penalties as other menders of Clearing House Association,
but pays no dues and has no vote.
Currency Receipts and Shipments - Carries an adequate supply of F.R. notes to
meet a l l currency requirements o f banks i n i t s t e r r i t o r y . During
the six months ending June 30, currency receipts and shipments
v/ere equal to about one-third those o f the parent bank.
Telegraphic Transfers - Mates telegraphic transfers for the account of member
Dames. Monthly average o f transfers bought and sold for periods
Jan. 1 to March SI ani A p r i l 1 to June 30 were as follows:

Jan. 1 - March 31
A p r i l 1 - June 30

Wire transfers bought
^58,188,474
66,480,902

Wire transfers sold
$63,955,199
36,481,898

Private Wire System - Branch l i n e between Chicago and D e t r o i t ; monthly -rental
$261. Salaries paid operators f o r June 1920, $285.
BANK PREMISES:




Occupies •quarters and has vault space i n Congress Building,
36 Congress Street, West. Annual rental to May 14, 1923,
§10,000; from May 15, 1923 to Miay 14,1928, £L2,000.

Detroit - 37 EARNINGS MP EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30,1920.
January 1-March 31
Earnings (Gross)

- -

April 1-June 30

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

$22,505
16,313
8,805
1,650
l r Q72
7,556
U3,6U? '51,2^5

186,168

Net earnings

$267,790

$15,339
8,63*
7,063
1,033
8.Q67
8,575
3 2 ; f e l '.Ui,036

(Surrent Expenses:
Salaries
Other operating expenses - — - F. R. currency
Tax on F. R. banknote circulation
Garniture and fixtures
Tnfoi
(Transit
Total
(Other

$227,20U

216,5^5

26.0$

•
18*6$

- -

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits^ based on Fridsty night figures, for periods
January 1 to March 31, aid A p r i l 1 to June 30, 1920:

Member banks1 reserve account
Due to Head Office
U. S. Government - general account
Deferred a v a i l a b i l i t y items (c)
Other deposits
Deductions frcm gross deposits:
Uncollected items

Jan. 1-March 31 A p r i l 1-June 30
$22,723,000
$39,800,000
(a) 50,535,000
(b) 36,^11,000
—
^5,000

10,379,000

100r 800

8V000

13,^5,000

18,2^1,000

.(a) Maximum amount due to Head Office
$67,6^2,000
January 23,1920.
Minimum amount due to Head Office
31,506,000
March
19,1920.
(b) Maximum amount due to Head Office
UU, 63 8,000
May
28,1920.
.Minimum amount due to Head Office.
19,018,000
April
16,1920(9) The larger figure for the period Jan. 1 to March 31 includes Gold S e t t l e ment I\md - Suspense credits carried p r i o r to March l f 1920, since which
date settlement through the Gold Fond has been made on date of collection
of items*
Member^bsnksi baiances^
Beserve balance Payment - a/c
with
capital stock
branch
w i t h head o f f i c e
State bank and trust company members ,
June 30, 1920
A l l member banks, June 30, 1920



$26,2^7,900
37,536,^70

$1,570,^50
2,071,230

SaltLakeCity- 3 8 VOLUME CP PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and A p r i l 1 to June 30, 1920:
Jan.l-Mar. 31

A p r i l 1-June 30

3 58,000
75,200,000
-

$1+5,340,000
77,893,000
r

12U, 558,000

123,233,000

53,90^,000

57,^30,000

Discounts for member hanks National banks
State banks and trust companies
Acceptances bought i n open market - - Total discounted and purchased
bills
Average daily b i l l holdings

CLEARING AND COLLECTION DEPARTEJENT: Average number and amount of items handled
daily during periods December 16, 1919 to March 15, 1920 and March 16 to
June 15, 1920:
Dec .l6-March 15 March 16 - tTune 15
Number
Amount Number
Amount
Items drawn on banks in Branch c i t y - - 6,572 $5,328,270 7,705 $7,^36,9^5
Items forwarded to Head Office
292
217,513
303
157,195
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 - 5,570
835,568 12,070
1,8^1,2^5
Items forwarded to other F.R. banks or
branches
137
207,^73
3^9,000
Items drawn on Treasurer of U. S.
601
239.UlQ l r ^oH
"508.577
Total

13,172

6,888,2U3 21,730

10,^2,962

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and April 1 to June 30, 1920:
January 1-March 31
April 1-June 30
In
Outside
In
Outside
Branch Branch
Total Branch Branch Total
City
City
City
City
( I n thousands of dollars)
Currency received Prom member banks
Prom non-member banks

19,139
-

551
-

19,690
-

22,752
-

1,698
-

2U,U50
* •

Total

19,139

551

19,690

22,752

1,698

2U,U5P

Currency shipped or delivered To member banks
16,053
To non-member banks - -

8,712
-

2U,7&5
-

20,380
-

9,233
-

29,6}3
-

16,053

8,712

2^,765

20,380

9,S33

29,613

Excess receipts

3,086

-

-

2,372

Excess shipments

-

8,l6l

5,075

-

7,535

5,l63

Total




LITTLE ROCK BRANCH
of the
39

FEDERAL RESERVE BANK OF ST- LOUIS.
Opened f o r "business - - - January 6, 1919*
DIRECTORS:
A. F . Bailey,
Manager, L i t t l e Rock Branch

Home Address
1012 West 2nd S t . ,
L i t t l e Rock, Ark.

J- E. England, J r . ,
President, England National Bank, L i t t l e Rock, Ark.

1700 Broadway S t - ,
L i t t l e Rock, Ark.

C. A. P r a t t ,
Chairman of the Board, Exchange N a t f l . Bank,
L i t t l e Rock, Ark.

814 West 2nd S t . ,
L i t t l e Rock, Ark.

Geo.
Rogers,
Vice President, American Bank of Coamerce and
Trust Company, L i t t l e Rock, Ark.

505 E . Capitol Ave.,
L i t t l e Rock, Ark.
316 G, Street,
L i t t l e Rock, Ark.

Moorhead Wright,
President, Union and Mercantile Trust Company,
L i t t l e Rock, Ark.
Meetings:
DISCOUNT COMMITTEE:'

' PERSONNEL:

Friday before the f i r s t Wednesday of each month.

Applications f o r discounts are checked by Manager and
Cashier and immediate c r e d i t i s given, the action being
subsequently r a t i f i e d by Discount Committee a t parent bank.
Two o f f i c e r s and 53 employes (June 30, 1920)

TERRITORY ASSIGNED:

T e r r i t o r y i s not determined by State or County l i n e s . On
June 30, 1920, Branch t e r r i t o r y consisted of a l l c i t i e s
i n Arkansas except those assigned to the Head Office and
to the Memphis Branch (For names of c i t i e s see "Fs&eral
Reserve I n t e r - D i s t r i c t Collection System" l i s t ) MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of branch
39
6
$ 4 , 0 0 0 $2,275,000 $36,384,751 $ lg >53?»^52
June 30,1920.42
4,874,000 4,960,000
42,939,767
019,081
23
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1920

30
217

Total number of non-member banks i n Branch
t e r r i t o r y June 30, 1920 not on par l i s t - None.



L i t t l e Rock - Uo ~
POWERS AMD FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member hanks* Carries reserve and clearing accounts of the hanks
and trust companies assigned todeal with Branch.
- Government.

CfejPries Government deposits; authorized l i m i t $200,000.

Discount and open market operations - Receives and passes upon applications for
rediscount of e l i g i b l e paper and for advances to member banks on
their fifteen-day c o l l a t e r a l notes, and transmits same d a i l y to
Head Office which takes f i n a l action upon receipt. Immediate
credit i s given on books of the Branch. Purchases endorsed bankers1
acceptances upon instructions from Head Office; no other cpsn market
operations*
Clearing and Collection Department - Operates department for the clearing and
collection of checks and drafts payable upon presentation and
drawn on banks on Federal Reserve par l i s t , also for the collection of such items as notes, drafts, acceptances, coupons, etc.
Gold Settlement Kind - Telegraphs Federal Reserve Board daily for
settlament through the Gold fund,amounts collected for the account
of other Federal Reserve Banks
Clearing House - No membership i n Clearing House Association.
Currency Receipts and Shitmants - During the six months ending June 30, 1920,
currency receipts and shipments amounted to about one-tenth of
those of parent bank.
Telegraphic Transfers - Authorized to make wire transfers for member and clearing manber banks i n Branch t e r r i t o r y ; also to receive and transmit
by wire to Head Office for i t s approval and advice of rate of discount, applications of manber and clearing member banks to buy
or s e l l mail transfers.
Fiscal Agency Operations - Makes deliveries of permanent coupon U. S. bonds in
exchange for temporary bonds. Such exchanges are limited to
counter transactions, exchanges by mail being made by Head O f f i c e .
Receives deposits for credit to U. S. Government, pays and cancels
U. S. Certificates of Indebtedness and Government coupons; accepts
for credit, subject to f i n a l payment, checks and warrants drawn
on Treasurer of U. S., and acts as custodian of c o l l a t e r a l pledged
by banks to secure Government deposits and to secure permanent >
bonds on consignment.
Private TTire 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 entire private wire system $1,^90. L i t t l e Rock's
portion of r e n t a l during June, 1920, based on number of words t e l e graphed, $330.78. Salaries paid during June, 1920 to telegraph
operators at St. Louis, Louisville, Memphis and L i t t l e Rock,$385.
Portion of salary of operator at L i t t l e Rock charged to private
wire system for June, 1920, $70.
B.ANK PREMISES;



Occupies quarters and has vault space i n Southern Trust Building.
Rent §36l • 16 per month.

L i t t l e Rock - Uo ~
EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 3 1 and A p r i l 1 to June 30, 1920.
January 1-March 31
Earnings (Gross)

A p r i l 1-June 30

$^3,981

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

$4,957
3,7^1
1,107
3,338
6,467

Net earnings

^1,311

$5,^20
4,295
9^5
3 r 620
5,^35
8,865

9,805

_
14,300

l4,176

38.4$

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

27,011
.
40.8$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, hased on Friday night figures for periods
January 1 to March 31* and A p r i l 1 to June 30, 1920:

Member banks reserve account
U- S. Government - general account
Due to Head Office
Deferred a v a i l a b i l i t y items (d)
Other deposits
Deductions from gross deposits:
Uncollected Items

Jan-1-March 3 1
$4,497,876
200,000
(b)6,469,867
(I'lS'lfo'

A p r i l 1-June 30
$4,294,992
(a) 229,^50
(c)8,508,883
3,168,021

* 32*885

25. l 6 l

4,959, 753

5,042,171

(a). Includes uncollected items
(b) Maximum amount due to Head Office $9,636,928
Mar. 17, 1920
Minimum amount due to Head Office
3,763,912
Feb. 10, 1920
(c) Maximum amount due to Head Office 10,294,848
June 30, 1920
Minimum amount due to Head Office
6,722,305
May 4,
I92O
(d) The larger figure f o r the period Jan. 1 to March 31 includes Gold
Settlement Fund - Suspense credits carried p r i o r to March 1, 1920,
since which date settlement through the Gold Rmd has been made on
date of c o l l e c t i o n of items.
Member_banksl balances.
Reserve balance
Parent -a/c
with
c a p i t a l stock
branch
w i t h head o f f i c e
State bank and t r u s t company manbers
June 30, 1920
A l l member banks4 June 30, 1920



$1,705,308
3,708,105

$147,500
290,450

Salt

Lake

City

- 2 -

YOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and A p r i l 1 to June 30, 1920:
Jan-l-Mar. 31
Discounts for member hanks • National hanks
State hanks and trust companies (
Acceptances bought i n open market

A p r i l 1-June 30

$U, 125> 000
^UU^OOO
-

$5,52*,000
7,022,000
-

Total discounted and purchased h i l l s - - 8,568,000.

12,5^,000

Average d a i l y b i l l holdings

5,27^,000

8,U85,000

CLEARING AND COLLECTION IEPAR1MENT: Average number and amount of items handled
daily during periods December 16, 1919, to March 15, 1920> and March l6 to
June 15, 1920:
Dec. l6-March 15
March l6 - June 15
Number
Amount
Number
Amount
Items drawn on banks i n Branch c i t y 1,718
$1,182,837
1,691
$1,203,153
Items forwarded to Head Office
521
160,362
7*7
1*6,612
Items forwarded to other branches
i n this d i s t r i c t
210
30,572
36*
50,271
Items drawn on banks i n this d i s t r i c t
outside of Federal Reserve Bank and
Branch c i t i e s
7,731
SlU,522 10,0^2
969,973
Items forwarded to other F. R. banks
or branches
202
53,019
329
91,007
Items drawn on Treasurer of U. S. 197
10UT95^
257
.,„ 62, ?1*
Total

10,579

2,302,566

13,^30

2,523,530

• CURRENCY RECEIPTS AND SHIMEKTTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30, 1920.
January 1-March 31
A p r i l 1-June 30
In
Outside Total
In
Outside
Branch Branch
Branch Branch Total
City
City
City
City
( I n thousands of dollars)
Currency received From member banks
Fran, non-member banks
Total
Currency shipped or delivered To member banks
To non-msmber banks
Total
Excess receipts



1,113
75

^93

1,606
15

1,251
91

^95
68^

1,7*6
Hit

1,188

U93

1,681

1,3^2

1,178

2,520

1,051
22

313

1,36U
22

1,278
52

*30

1,708
52

1,073

313

1,386

1,330

iflO

1,760

115

180

295

12

7^8

760

LOUISVILLE BRANCH
of the
FEDERAL RESERVE BANK OF ST. LOUIS
Opened for business

December 3, 1917

DIRECTORS:
17. C. Montgomery,
VicA President, First-Hardin N a t 1 ! . Bank, Elizabetht own,Ky.

Home Address
Elizabethtown,
Ky.

Geo. W. Norton,
Capitalist

Cherokee Drive,
Louisville, Ky.

P. M. Sackett,
President, Pioneer Coal Co., Louisville, Ky.

Cherokee Drive,
Louisville, Ky.

Enbry L. Swearingen,
President, F i r s t National Bank,and President,
Kentucky T i t l e Savings Barak & Trust Co., Louisville, Ky.

Seelbach Hotel,
Louisville, Ky.

W. P. Kincheloe,
Manager, Louisville Branch

219 East Gray S t . ,
Louisville, Ky.

Meetings:

Friday before f i r s t Wednesday of each month.

DISCOUNT COMMITTEE:

Composed of Manager and two directors. Applications for
discount are checked by Manager and Cashier and immediate
credit given, the action taken being r a t i f i e d subsequently
by Discount Committee of the parent bank and also by f u l l
Discount Committee of Branch* Meets once a week.

PERSONNEL:

Tbree officers and 70 employees (June 30, 1920)

TERRITORY ASSIGNED:

Territory i s not determined by State or County lines. On
June 30, 1920, Branch t e r r i t o r y consisted of a l l c i t i e s i n ft
Kentucky and Indiana, included i n D i s t r i c t No. 8, except
those assigned to the Head Office (For names of o i t i e s see
lf
~Federal Reserve I n t e r - D i - t - i c t - Collection System" l i s t ) .
"
' '
- s r - - - MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of branch
90
2
$17,609,257 $775,750 $126,092,128 $8,695,9^9
June 30,1920 90
6
18,566,115 2,660,500
166,1463,181 30,773,323
PAR LIST:
Number of norwnember banks on par l i s t At opening of Branch On June 30, 1920

112
331

Total number of non-member banks i n Branch t e r r i t o r y Jufte 30,
1920 not on par l i s t
— None.



Louisville -121 POWERS AND JUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries reserve and clearing accounts of banks and
trust companies assigned to deal with Branch.
- Government.

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

Discount and Open Market Operations - Receives and passes on applications for
rediscount of e l i b i b l e paper and advances to manber banks on their
fifteen-day c o l l a t e r a l notes and transmits same daily to the
Head Office, which takes f i n a l action upon receipt. Immediate
credit i s given on the books of the Branch. Purchases endorsed
bankers1 acceptances upon instructions from Head Office; no other
open market operations*
Clearing and Collect!an Department - Operates department for the clearing and
collection of checks and drafts payable upon presentation and
drawn on banks on Federal Reserve par l i s t ; also for the collection of such items as notes, drafts,acceptances, coupons, etc.
Gold Settlement Fund - Telegraphs Federal Reserve Board daily for
settlement through the Gold Fund,amounts collected for the account
of other Federal Reserve Banks.
Clearing House - Since April 13, 1920, the functions of the Clearing
House have been performed by Branch.
Currency Receipts and Shipments - During the six months ending June 30, 1920,
currency receipts and shipments amounted to about one-fourth of
those of the Head Office.
«

Telegraphic Transfers - Authorized to make wire transfers f o r member and clearing
member banks in 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 rate of discount, a l l applications of member and clearing member banks to
buy or s e l l mail transfers.
Fiscal Agency Operations - Makes deliveries of permanent coupon U- S. bonds in
exchange for temporary bonds. Such exchanges are limited to counter
transactions, exchanges by m a i l being made by Head Office. Receives
deposits for credit to U- S. Government; pays and cancels U- S.
Certificates of Indebtedness and Government coupons; accepts for
credit, subject to f i n a l payment, checks and warrants drawn on
Treasurer of United States, and acts as custodian of c o l l a t e r a l
pledged by banks to secure Government deposits and to secure permanent bonds on consignment*
Private TTire System - On Branch l i n e S t . Louis - Louisville; monthly rental
entire private wire system, $1,U90. Louisville Branch's proportion
of rental during June, 1920, based on number words telegraphed,
$3^8.66. Salaries paid during June, 1920, to telegraph operators
at S t . Louis, Louisville, Memphis and L i t t l e Rock, $385. Portion
of salary of operator at Louisville charged to private wire system
for June, 1920, $100.
BANK PREMISES:



Owns and occupies building formerly occupied by National Bank of
Commerce, located at N. W. Corner of F i f t h & Market Sts.

Louisville -122 EARNINGS AMD EXPENSES
Monthly average for periods- January 1 to March "31, and A p r i l 1 to June 30,1920'
January 1-Maroh 3 1
Earnings (Gross)

-

.

$60,210

Current Expenses:
Salaries
Other operating expenses
F. R. currency
Furniture and fixtures
Total ( t r a n s i t
Totai
(Other-'
Net earnings

-

1. - - - -

A p r i l 1-June 30

$6,158
5,521
2,990
3,91^
10,755

$90,0UU
$6,822
5,216
2,553
2, 537
^033
13,095

:i7.12«

- -

^5,5^1

72,916

Ratio of transit department expenses to
current expenses exclusive of cost 6f
F . R. currency
_ - _ _

33-5$

27-77>

s

CHARACTER AMD VOTXME .07 BUSINESS HAKDEED
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, 1920:

Member •banks' reserve account
U- S. Government - general account (a)Due to Head Office
Deferred a v a i l a b i l i t y items (d)
Other deposits
Deductions from gross deposits:
thcollected items

Jan.l-March 31 A p r i l 1-June 30
$10,011,79^
$9,2^9,996
341,080
(b) 10,069,755
(c)13,503,107
&392'888
5,863,627
' 21*363

Hq.Hff5

9,909,686

7,139,795

(a) Includes uncollected funds*
(b) Maximum amount due to Head Office
$13,022,801
Jan. 17, 1920
Minimum amount due to Head Office
6,828,109
Feb. 17, 1920
(c) Maximum amount due to Head Office
17,117,65**
Apr. 28, 1920
Minimun amount due to Head Office
10,086,636
Apr. 1, 1920
(d) The larger figure for the period Jan. 1 to March 31 includes Gold S e t t l e ment Fund - Suspense credits carried prior to March 1, 1920, since which
date settlement through the Gold Fund has been made on date of collection
of items*
Megibgrjbgaks2. balances.
Reserve balance
Payment-a/c
with.
c a p i t a l stock
branch
with head o f f i c e
State bank and trust company members June
30, 1920
A l l member banks June 30, 1920



$1,127, l l H
9,028,310

$79,900
638,350

Louisville - 4 6

-

VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and April 1 to June 30, 1920:
Jan.l-Mar.31
Discounts for member hanks National hanks
State hanks and trust companies
Acceptances bought i n open market
Total discounted and purchased
bills

-

April 1-June 30
^ .
$27,996,149
6,0
£ i L , 5?
64,096

$22,409,319
6,135,418
4g4r670
29,029,40J
13,999,000

Average dail? b i l l holdings

3^,151,904
18,858,000

CLEARING AND COLLECTION DEPARTMENT:
Average number and amount of items handled
d a i l y during periods December l 6 , 1919,to M a r c h 15, I920,and March 16 to
June 15, 1920:
^
Dec. l6-March 15
March 16 - June 15
Number
Amount Number
Amount
Items drawn on banks i n Branch c i t y - - 2,899 $3,124,752
2,976
$2,798,9^7
Items forwarded to Head Office
47
24,137
te
39,892
•Items forwarded to other branches
i n this d i s t r i c t
6
780
4
917
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 -11,833
1,077,607 13,480
1,142,856
Items forwarded to other F. R. Banks
• .
or branches 462
124,900
438
141,35*
Items drawn on Treasurer of U. S* - 677
232.582
<?64
168,786
total

- -:i5^92U

4,584,753

17,90^

4,292,772

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30, 1920:
January 1-March 31
April 1-June 30
In
Outside
In
Outside
Branch Branch
Total Branch Branch Total
City
City
City
City
(In thousands of dollars)
Currency received From member banks
From non-member banks
Total
Currency shipped or delivered To member banks
1
To non-member banks
Total
Excess receipts
Excess shipments



' 3,778
4

309
109

^,087
113

4,949
3

6l4 5,563
7,8
81

3,782

418

4,200

4,952

692

2,924
4

**37
5

3,361 4,452
9
1
±

470 4,922
L.
5

2,928

442

3,370

4,456

471

4,927

854

-

830

496

221

717

24

5,644

MEMPHIS BRANCH
of the
FEDERAL RESERVE BANK OF ST. LOUIS
Ojpened for "business —

- - September 3, ISIS*

DIRECTORS:
Home Address
R. B. Snowden,
1397 Central Ave.,
Vice President, Bank of Commerce & Trust Co.,Memphis, Tenn. Memphis, Tenn.
T. K. Riddick,
Lawyer

izUo Uhion Ave.,,
Memphis, Tenn.

S- E. Ragland,
President, Central State Nat 1 1. Bank, Memphis, Tenn.

1663 York Ave.,
Memphis, Tenn.

J . D. McDowell,
Vice President, Union & Planters Bank & Trust Co.,
Memphis, Tenn.

12U2 Court Ave.,
Memphis, Tenn.

J . J . Heflin,
Manager of Memphis Branch
Meetings:

237 Buena Vista Place,
Memphis, Tenn.

Friday preceding f i r s t Wednesday of each month.

DISCOUNT COMMITTEE:

Applications for discounts are checked by officers and
Immediate credit given', action taken being subsequently
r a t i f i e d by Discount Committee of the parent bank.

PERSONAL:

Four o f f i c e r s and 71 employes (June 30, 1920)

TERRITORY ASSIGNED:

Territory i s not determined by State or County l i n e s . On
June 30, 1920, Branch t e r r i t o r y consisted of a l l c i t i e s
i n Mississippi included i n D i s t r i c t No. 8; a l l c i t i e s i n
Tennessee included i n D i s t r i c t No. 8, except those assigned
to St. Louis, and c i t i e s i n Arkansas not assigned to St.
Louis or L i t t l e Rock (For names of c i t i e s see "Federal
^ _
Reserve I n t e r - D i s t r i c t Collection System" l i s t ) .
MEMBER BANKS I N BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of Branch
3U
5
$5,^18,226 $5,900,000
$38,087,107 $^7,87^312
June 30,1920 35
12
6,822,000 7,TO9,000
56,878,581
76,912,719
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1920
Total number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t "

193
17^

POWERS AND FUNCTIONS EXERCISED BY BRANCH;
Deposits - Member banks- Carries reserve and clearing accounts of banks and
trust companies assigned to d e a l with Branch.
- Government.




Carries Government deposits; authorized l i m i t $100,000.

Memphis - Ug Discount and open market operations - Receives and passes'on applications for
rediscount of e l i g i b l e paper and for advances tb member banks on
their fifteen-day c o l l a t e r a l notes, and transmits daily a l l applications to the Head Officej which takes f i n a l action upon receipt.
Immediate credit i s given on the books, of the Branch* Purchases
endorsed bankers' acceptances upoii instructions from Head Office;
no other open market operationsi
Clearing and Collection Department - Ofcetated department for the clearing and
collection of checks ancLdraftiS payable upon presentation, and
drawn on banks on Federal Reserve par l i s t ; also for the collection
of such items as xiotes, drafts, acceptances, coupons, e t c .
dold Settlement Rind - Telegraphs Federal Reserve Board daily for
settlement through the Gold Fund, amounts collected for the account
of other Federal Reserve Banks.
Clearing House - No membership i n Clearing House Association.
Currency Receipts and Shipments - During the six months ending June 30, 1920,
currency receipts and shipments amounted to about one-fourth of
those of the Head Office.
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 ty
wire to parent bank, for approval and advice of rate of discount,
a l l applications of member and clearing member banks to buy or s e l l
mail transfers*
Fiscal Agency Operations - Makes deliveries of permanent coupon U. S. bonds i n
change for temporary bonds. Such exchanges are limited to counter
^transactions, exchanges by mail being made by Head Office. Receives
deposits for credit to U« S* Government; pays and cancels U. S.
Certificates of Indebtedness and Government cordons; accepts for
credit, subject to f i n a l payment, checks and warrants drawn on
Treasurer of U. S. and acts as custodian of c o l l a t e r a l pledged by
banks to secure Government deposits and to secure permanent bonds
on consignment.
Private Wire System - On Branch line between St. Louis, Memphis and L i t t l e Rock;
monthly rental entire private wire system $1,490* Memphis Branch1 s
proportion of rental during June, 1920, based on number of words
telegraphed, $1*20*18. Salaries paid during June 1920, to telegraph
operators a t St. Louis, Louisville, Memphis and L i t t l e ?'Rock $385.
Portion of salary of operator at Memphis charged to private wire
system for June 1920, $70.
BANK PREMISES:




Occupies quarters and has vdult space i n the Mercantile National
Bank Building, and rocms over U S. Main Street; monthly rental $735'
About September 1, 1920, w i l l move to larger quarters i n the Goodwyn
I n s t i t u t e Building, a t a monthly r e n t a l of $1,150.

Memphis - U 9 «

EARNINGS AND EXPENSES
" "

Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1920.
January 1-March 3 1
Earnings (Gross)

$55,226

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

$8,633
5,175
.
2,185
- 5*017
10,976

Net earnings

15,993

A p r i l 1-June 30
$80,665
$8,578
6,668
2,321
2 f 253
5,587
1^,233

.
19,320

39,233

36-3$

Ratio of t r a n s i t department expenses to
''current expenses exclusive of cost of
P. R» currency
.

60,845

31*9#

CHARACTER AND VOLUME 0E BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, hased on Friday night figures f o r periods
January 1 to March 31, and A p r i l 1 to June 30, 1920:

Member banks1 reserve account
Due to Head Office
>
U-S. Government - general account
Deferred a v a i l a b i l i t y items (c)

Jan.1-March 31 A p r i l 1-June 30
$7,107,731
$5,75^,338
(a)13,976,588
(b) 17,576,418
—
100,000
100,000
f ^ I ^ ' ^
2,920,109

Other deposits
:
Deductions fTcm gross deposits:
Uncollected items -

18^313

32T 516

5,962,556

3,^11,786

(a) Maximum amount due to Head Office
$16,178,372
March 24; 1920*
Minimum amount due to Head Office
11,449,405
Feb. 13, 1920.
(b) Maximum amount due to Head Office
21,247,470
A p r i l 26, 1920.
Minimtm amount due to Head Office
15,002,176
May 1, 1920.
(c) The larger figure for the period Jan. 1 t o March 3 1 includes Gold S e t t l e ment Fund - Suspense credits carried p r i o r to March 1, 1920, since which
date settlement through the Gold Fund has been made on date of collection
o f items »
Member_bantei balances..
~
~
State bank and t r u s t canpany members, June
30, 1920
A l l member banks , J&ie 30, 1920



Reserve balance
Payment - a/c
with
.capital stock
branch
w i t h head o f f i c e
$3, 3^9,5^7
5,894,771

$235,600
^31,700

Mamphia - 5 0 VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 3 1 and A p r i l 1 to June 30, 1920:
Jan.l-Mar. 31
Discounts for member tanks National tanks
$6,209,02?
State tanks and trust companies - - - - 12,879,87^
Acceptances bought i n open market
I 6 r l^U
Total discounted and purchased
Mils
19,105,097
Average d a i l y M i l holdings

A p r i l 1-June 30
$9,756,501
12,269,160
;
t,667
22,030,328

12,773,000

l6,lJ07,000

CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during periods December 16, 1919,to March 15, 192O. and March l b to
June 15, 1920:
•
Dec.l6-March 15
March lb - June 15
Number /
Amount Number
Amount
Items drawn an banks i n Branch c i t y - - 2,722 $2,157,^81 2,707
$1,730,002
Items forwarded to Head Office
.
66
31,703
9s
38,887
Items forwarded to other
. branches i n t h i s d i s t r i c t
lH
5,63^
57
32,903
Items drawn on banks i n t h i s d i s t r i c t outside of F.R/barik and branch c i t i e s - 6,85U
758,050 6,6Hl
587,463
Items forwarded to other F.B* banks
or branches
77
3^,50U
81
37,921
Items drawn on Treasurer of U. S. - "311
85.Q36
l6Q
,58,85b
Total

' - -

• - - 10,0UH

3,073,308

9,953

2,1*66,032

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30, 1920:
January 1-March 3 1
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch
Total Branch Branch Total
City
City
City
City
( I n thousands of d o l l a r s )
Currency received F r m member banks
Fran nan-member banks - •
Total
Currency shipped or delivered To member banks
To nai-member banks' Total
Excess receipts




U, 197
U5Q

36U
3U0

Ut 561
7QQ

U,080
HQ5

U26
I&

4,506
2+1

\656

70U

5,360

M85

562

5,oU7

3,6Ui
66

167
-

3,808
66

3,56^
69

151
6

3,715
75

3,707

167

3,87^

3,633

157

3,790

9U9

537

l,Us6

852

1«55

1,257

DENVER BRANCH
of the
FEDERAL RESERVE BANK OF KANSAS CITY
Opened for business

January lU, 1918.
Home Address
Pueblo, Colorado.

DIRECTORS:
Alva Mans,
President, Pueblo Savings and Trust Company

Denver, Colorado.

John Evans, International Trust Company, Denver
President,
A. C- Foster,
Vice President, U. S. National Bank, Denver

Denver, Colorado•

C* C« Parks,
Vice President, F i r s t National Bank, Denver

Denver, Colorado.

C* A- Burkhardt,
Manager, Denver Branch

Denver, Colorado•

Meetings - The second Thursday of e&ch month*
DISCOUNT COMMITTEE!

Manager and two Directors• Any two a quorum. Passes on
paper offered for discount and has general supervision over
the Branch.

PERSONNEL:

Three officers and 71 employes (June 30, 1920)

TERRITORY ASSIGNED:

Colorado and that part of New Mexico included i n the Tenth
F. R» D i s t r i c t *

MEMBER RANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL
National Non-National National
At opening
of Branch
131
1
$18,239,750
May U, 1920
1%
5
22,550,000

AND SURPHJS
Non-National

TOTAL RESOURCES
National Non-National

$1,000,000 $213,19^,000
1,800,000 263,0^3,000

PAR LIST:
Number of non-member banks " on par l i s t At opening of Branch
June 30, 1920
Total number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t




111

281
—

None

$15,79^,000
22,039,000

Denver - 5 2 POWERS AND JUNCTIONS EXERCISED BY BRANCH:
Deposits - Member "banks- Carries reserve accounts of banks assigned to deal
with Branch- Member banks, however, may remit to or with special
permission draw upon Kansas City Federal Reserve Bank or i t s Omaha
Branch for account .of Denver Branch.
- Government .

Carries Government deposits, authorized l i m i t $200,000.

Discount and open 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.
Clearing and Collection Department - 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 Fond - Branch telegraphs F. R« Board daily vfor s e t t l e ment through the Gold Fund amounts collected for the account of other
F. R. Banks.
Clearing House - Member o f 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 settled ty
each of the member banks.
Currency Receipts and Shipments - Carries an adequate
notes to meet a l l currency requirements of
Receipts and deliveries of currency during
30 were equal to about one-fourth those of

supply of Federal Reserve
banks i n i t s t e r r i t o r y .
the 6 months ending June
the parent bank.

Telegraphic Transfers - Bought and sold at par. Practice of purchasing mail
transfers has been discontinued since November, 1919'
Private Wire System - On main l i n e - Chicago-Qnaha-Denver-Salt LakeSan Francisco. Salary paid to operator i n June,$lHo.
BANK PREMISES:




Interstate Trust Company building, monthly rental, $U67-50
(Includes use of vault and f i x t u r e s . )

Denver - 53 EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30,1920.
January 1-March 31
Earnings (Gross)

$1*5, SS6

Current expenses:
Salaries
Other operating expenses
F. R. currency
Furniture and fixtures
(Transit
m . ,
Total (other

A p r i l 1-June 30

,

$7,220
^»591
2%
500
3,91^
8,6Uo ..12,55**

$7,810
^,985
150
798
\ 12U
9,619

'33,332

Net earnings
Ratio of transit department expenses to
current expenses exclusive of cost of
F. R. currency

$*K>,783

13,7^3

!27,oUo

31.8$

30.3$

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, hased on Friday night figures for periods
January 1 to March 31, and April 1 to June 30, 1920:

Member banks1 reserve account
U. S. Government - gfeneral account ( a ) —
Deferred a v a i l a b i l i t y items (b)
'Other deposits
Deductions from gross deposits:
Due from head office
Uncollected items

Jan.l-March 31
$15,385,93*5
333,19*
S'f^'SS
(6,627,737
13,059
(c) 2,1*91,687
9,868,183

A p r i l 1-June 30
$15, 908,651
201,935
6,9^*7,209
7,558
(d) U, 596,UUl
8,523,292

(a) Includes uncollected items.
(b) The larger figure for the period Jan. 1 to March 31 includes Gold Settlement Fund - Suspense credits carried prior to March 1, 1920, since T/fliich
date settlement through the Gold Fund has been made on date of collection
of items.
(c) Maximum amount due from Head Office - -$7,250,3^1
March 29, 1920
Maximum amount due to
Head Office
2,152,088
Jan. lo, 1920
(d) Maximum amount due from Head Office
7,76U, 572
April 10, 1920
Maximum amount due to
Head Office
1,01*9,196
June 21, 1920
Member_bj|nks^ balances.

v

Reserve balance
with
branch
State bank and trust company members
May 1*, 1920
A l l member banks', May k 7 1920 


$1,06S,U60
lU,899,292

Payment - a/c
capital stock
w i t h head office
$55,200
725,650

Denver - 5UVOLUME OP PAPER DISCOUNTED AND BOUGHT: Mmthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 1920:
Jan.l-Mar. 3 1
Discounts for member hanks National hanks
State hanks and trust companies
Acceptance's bought i n open market

A p r i l i-Jime 30

- - - - - - -

$l4,661,000
UUU,000
•

$18,015,000
487,000
.... , =
-

Total discounted and purchased b i l l s -

15,125,000

18,502,000

10,298,000

8,3^0,000

Average d a i l y b i l l holdings

CLEARING- AND COLLECTION DEPARTMENT: Average number and amount of items-handled
d a i l y during periods December l 6 , 1919 to March 15, 1920 and March 16 to
June 15, 1920:
Dec.l6-March 15
March 16 - June 15
Number
Amount Number
Amount
Items drawn on banks i n Branch c i t y - - 2,77^ $2,217,911 2,752
$2,368, W3
Items forwarded to Head Office
?63.
U7U,90o
428
382,356
• Items forwarded to other - branches
,
i n this d i s t r i c t
1,039
312,123 1,2^9
350,075
Items drawn on banks i n t h i s d i s t r i c t
outside of P.R.Bank arid Branch c i t i e s 11,99^
993,28b 11,807
1,023,507
Items drawn on banks i n other F.R . D i s t r i c t si
Forwarded d i r e c t to ctrawee bank
(a)
2,435
(a)
1,667
Forwarded to other F . R. banks or
.
branches
2,1*35
617,703 2,518
776,297
Items drawn on Treasurer of U. S.

U7Q

Total

669

92JM

U, 722,505 1 9 , ^ 3

19,28**

104.141

^,99^,789

(a) A d a i l y average o f 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, 1920.
January 1-March 3 1
A p r i l 1-June 30
In
Outside
In
Outside
1 Total Branch. Branch Total
Branch Branch
City
City
City
City
( I n thousands of dollars)
Currency received Eran member banks - - —
Erom non-member banks - - - Total
Currency shipped or delivered To member banks
So. non-member banks
Total - .




-

-

1,7^7
3U

UsU

2,231

1,729
6?

751

2,^80
62

-

1,781

M

2,265

1,791

751

2,5*2

-

1,187
U7
«

290

1,^77
tyi

1,382
8

317

1,699
8

-

1,232

290

1,522

1,390

317

1,707

19U

7*3

ifoi

U3U

S35

-

54
OKLAHOMA CITY BRANCH
of the
FEDERAL RESERVE hiXOL OF XAJEAS CITY
Opened f o r business - - - - August 2, 1920*
DIRECTORS:
V&lliam Mee
President, Security Nat* 1 Bank*

Home Address
Oklahoma C i t y ,
Oklahoma

E.H. Thurmond,
Banker

Oklahoma City,
Oklahoma*

Dorset Carter
Attorney and President, Coline
O i l Company*

OldLahoma C i t y ,
Oklahoma*

P*C* Dings,
President, Guaranty State Bank:

Ardmore,
Oklahoma*

C *E* Daniel f
Manager, Oklahoma C i t y Branch

Oklahoma C i t y ,
Oklahoma*

Meetings - Tuesday pieceeding the f i r s t Friday of each month*
Special meetings may be held upon the c a l l o f the fi&nager,
upon request o f the Federal Beserve Bank o f Kansas C i t y , or
the v/ritten request of any two directors*
TSBRITOET ASSIGNED:

That p a r t of the State of Oklahoma included i n the Tenth
Federal Beserve D i s t r i c t *

MEMBER BANKS HI 3RA.2CH
TERRITORY:
NUMBER
National Non-National
At opening of
Branch

314

17

CAPITAL AND SURPLUS TOTAL RESOURCES
National Non-National National Non-National
^29,175,OOO

876,300

^350,321,000 £,19,897,300

PAR LIST:
Number o f non-memberAt openingpar Branch banks on o f l i s t -

542

T o t a l number of non-member banks i n Branch territory, a t
opening of Branch, not on par l i s t - -None
POVERS "AND FUNCTIONS EXERCISED BY BRAN3H:
Branch \sas n o t open for business on J u l y 1 , 1920, but
w i l l op orate under
the same p l a n as t h a t which governs the operations of the Branch Banks
a t Cincinnati and Pittsburgh*




OMAHA. BRANCH
of the
FEEERAL RESERVE BANK OF KANSAS CITY
Opened for business

September 4 f 1917 •

DIRECTORS:
Lather Drake,
President, Merchants National Bank, Qnaha

Home Address
3910 Harney S t . ,
Omaha*

R. 0 . Marnell,
Cashier, Merchants National Bank, Nebraska City

Nebraska City,
Nebr.

P» L. Hall,
President, Central National Bank, Lincoln

Lincoln,
Nebr.

Geo. E* Abbott,
President, F i r s t National Bank, Cheyenne

Cheyenne,
Wyo*

L» H. Earhart,
Manager, Qnaha Branch

Qnaha,
Nebr.

Meetings - Wednesday preceding the Second Thursday of each month.
EXECUTIVE COMMITTEE:

Manager and two Directors. Any two a quorum. Passes upon
paper offered for discount and has general supervision over
Branch. Meetings - Tuesday and Friday of each week.

PERSONNEL:

Four officers and 137 employes (June 30, 1920)

TERRITORY ASSIGNED:

Nebraska and Wyoming.

MEMBER BANKS IN BRANCH
TERRITORY:
NUMBERCAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of Branch
227
1
$27,1^3,000
$35,000 $287,647,63*
$275,707
May 4, 1920
231*
19
32,5^5,000 1,240,000
3^3,215,684 12,116,^72
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1920

33**
1,009

Total, number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t —None
POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks. Carries reserve accounts of a l l member banks i n the
Qnaha Zone.
- Government. Branch carries Government deposits;, authorised l i m i t
$200,000.



Gxiaha - 5 5

-

Discount and open^market operations - Branch rediscounts e l i g i b l e paper for
member banks. A l l purchases i n open market are made for account
and w i t h the consent of the Head Office *
Clearing and Collection Department - Operates Clearing Department for clearing
and collecting checks for banks i n i t s t e r r i t o r y . Handles about
26,000 items d a i l y .
Gold Settlement Fund - Branch telegraphs F. R. Board d a i l y for s e t t l e ment through Gold Fbnd amounts collected for the account of other
F* R. Banks.
Clearing House - Branch i s honorary member w i t h clearing p r i v i l e g e s .
Settlement i s made d a i l y "by charging member banks1 .reserve accounts
on books of Branch.
Non-member items are presented d i r e c t to such banks; s e t t l e ment made by d r a f t s on n a t i o n a l banks which are presented for
payment on the following day.
Currency Receipts and Shirments - Carries an adequate supply of F- R. notes to
meet a l l currency requirements of banks i n i t s t e r r i t o r y . During
the 6 months ending June 30 currency receipts and shipments were
equal to* one-fourth those of the He*d O f f i c e .
Telegraphic Transfers - Telegraphic transfers bought and sold a t p a r . The
' practice of purchasing m a i l transfers has been discontinued since
November, 1919.
Private Wir3 Syst&n - On branch l i n e frcrn Kansas City to Ctoaha for which the
.branch pays as i t s share of the monthly r e n t a l , $U20. Branch i s
also connected by "pony" wires w i t h offices of the Tfestern l&xion
and Postal Telegraph Companies of the C i t y . Salary paid the Qnaha
operator i s $125 P o r month.
BANK PREMISES:




Has purchased the Farnum Building, at a co*t of $165,000, i n which
i t foimerly rented quarJ^rRpid vault space. The three floors above
the second f l o o r axg/to various tenants.

EARNINGS AND EXPENSES

Qnaha - 57 -

Monthly average for periods January 1 to March 31, and April 1 to June 30,1920.
January 1-March 31 April 1-June 30
Earnings (Gross).

- -

Current expenses:
Salaries
Other operating expenses
F. R*. currency
Furniture and fixtures
Total
(Other

.

' Net earnings

$151,9^3
$12,839
7,509
290
1.07U
6,617
15,095

$181,889
$15,lob
10,196
162
1T 8*fo
10,952
18,^31

21,712
130,231

Ratio of transit department expenses to
current expenses, exclusive of cost of
F . R. currency

29,383
152,506

30.$

37

CHARACTER AND VOLUME OF BUSINESS HANTLED
DEPOSITS:

Average d a i l y deposits, based on Friday n i g i t figures for periods
January 1 to March 31, and A p r i l l ' t o June 30, 1920:

Member banks1 rdserve account
U. S. Government - general account
Due to Head Office
Deferred a v a i l a b i l i t y items (d)
Other deposits
Deductions from gross deposits:
Uncollected items

Jan.l-March 3 1 A p r i l 1-June 30
$19,075,11**
$16,812,399
(a)
651,0*47
392,834
(b) 18,069,73**
(c) 19,736,008
(lo'o^^

11,2^8,023

27*887

2"Sr2V)

15,388,516

12,658,330

(a) Includes uncollected items *
(b) Maximum amount due to Head Office —
$25,661,301
January 2, 1920.
Minimum amount due to Head Office - 13,672,000
February 13,1920•
(c) .Maximum amount due to Head Office - 22,770,022
A p r i l 23, 1§20.
Minimum amount due to Head Office - 13,672,26U
February 13,1920.
(d) The larger figure for the period Jan. 1 to March 31 includes Gold Settlement
Fund - Suspense credits carried prior to March 1, 1920, since which date
settlement through Gold Fund has been nade on date of collection of items*
Memter_banksJ. bal ance s.
Reserve balance
with
Branch
State bank and trust company members,
March k, 1920
A l l member banks, March 31, 1920



Payment - a/c
capital stock
with Head Office

$862,778
18,^03,3^0

$35,500
1,002,750
V

Ctoaha - 58
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, 1§20:
Jan.l-Mar• 31
Discounts for member banks National banks
State banks' and trust companies
Acceptances bought in open market — - Total' discounted and purchased b i l l s -

A p r i l 1-June 30 *

$3^,776,222
733,102
35,509,32^

$29,3**6,2UU
877,833
30,224,077

32,^37,000

3^,552,000

Average d a i l y b i l l holdings

CLEARING AND COLLECTION DEPARTMENT: Average, number and amount o f items handled
d a i l y during periods December 16, 1919 to March 15, 1920 and March l 6 to
June 15, 1920:
Dec .l6-March 15 March 16 - June .15
Number
Amount Ntmber
Amount
Items drawn on banks i n Branch c i t y - - 3,551 $3,162,636 3*618 $2,962,556
Items forwarded to Head Office
3 43 3
2,4
4l8
276,0l4
Items forwarded to other
branches i n t h i s d i s t r i c t
357
97,046
352
88,129
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 - 17,98**
2,075,893 19,1^9
1,960,470
Items forwarded to other F.R. banks
or branches
1,U26
441,236 1,472
397,268
Items drawn on Treasurer of U. S
6^8 , 6 4 ^ 4 0 1 1,578
80,64*5
Total

- - 24,399

6 , 1 6 5 , ^ 26,587

5,765,082

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30, 1920:
January 1-March 31.
In
Outside
Branch Branch
Total
City
City

A p r i l 1- June 30
In
Outside
Branch Branch Total
City
City

( I n thousands of dollars)
Currency received From member banks
From non-member banks - - - - - -

Total
Excess receipts
Excess shipments




1,595 1,^75 569 2,044

1,425 858
-

2,285
-

1,109 7^3
-

1,852
, --

1,U25 858

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

1,595 1,^75 5&9 2,044
*
- .

1,33^ 261

Total

1,334 2 6 l
-

2,283

1,109 7^3

1,852

2
91

597

688

366
174

192

EL PASO BRANCH
o f the
FEDERAL RESERVE BANK OF DALLAS
Opened f o r business - - - - June 17 1 1918.
Home Address
El Paso
Texas

DIRECTORS:
V/.W- Turney,
Attorney
A*P* Coles,
Real Estate

E l Paso
Texas

U.S. Stewart,
Banker

EL Paso'
Texas

A.F* K e r r ,
Banker

El Paso
Texas

Y/.C. 7/eiss,
Manager, E l Paso Braxch

E l Paso
Texas

Meetings - The second 'Tuesday of eaoh month*
EXECUTIVE CQMITTEE:

Three, including the

PERSONNEL:

Thzee o f f i c e r s and 46 employes {June 30,1920)

TERREPOBY ASSIGNED:

The following counties i n the States o f Arizona,
New Mexico and Texas:

ARIZONA.

Cochise
Graham
Greenlee
Pima
Santa Cruz

Eager*

NET/ MEXICO
Bernalillo
Lincoln
Luna
Chaves
Otero
Curry
Quay
DeBaca
Roo sevelt
Dona Ana
Sierra
Eddy
Grant
Socorro
Torrance
Gtiadalupe
Valencia
Lea

TEXAS
Andrews
Midland
Brewster
Pecos
Pres idio
Crane
Terrell
Culberson
Reeves
Ector
Val Verde
El'Paso
Ward
J e f f Davis
Winkler
Loving
Martifc

MEMBER BANKS IN BRAK3H
TERRITORY
National
At opening
of Biaroh
May 4,1920 - -

55
57

NUMBER
CAPITAL AMD SURPLUS
Non-National National Non-National
6
12

PAR LIST:
Number o f non-4nenber banks on par l i s t ~
At opening of Branch - July 15, 1920
Total number o f non-member banks i n Branch
t e r r i t o r y July 15 f 1920, not on par l i s t —



v?,096,000
8,120,000

-20
82
-None

^388,000
1,316,500

E l Paso -go ~
POTTERS AND FUNCTIONS EXERCISES) BY BRANCH:
Deposits - Member banks* Carries reserve accounts of member banks assigned
to deal w i t h Branch.
- Government. Carries Government deposits - authorized l i m i t $500,000.
Rsceives deposits from collector of customs, internal revenue collector, and various Judicial and m i l i t a r y o f f i c i a l s , also through
transfer from national banks for credit of U. S. Treasurer. Sends
d a i l y report to Treasurer of the United States.
Discount and open market operations - The Branch engages i n the usual rediscount
operations. Offerings for rediscount are acted upon by the
Executive Committee of the Branch, and immediate credit passed to
reserve accounts of member banks, these transactions being subject
to review by the Head Office. Member banks have the option of
sending their paper to the Branch or to the parent barik.
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 instruments. Handles
about S,700 items d a i l y .
Gold Settlement Stand - Branch telegraphs Federal Reserve Board daily
for settlement through the Gold Fund amounts collected for the
account of other Federal Reserve banks and direct s e t t l i n g branches.
Local Clearing House - Branch i s a member of the E l Paso Clearing
House Association without cost except fines and penalties. Daily
Clearing House settlement i s , by arrangement, effected by appropriate entries to Clearing House members upon the books of
the Branch.
Currency Receipts and Shipments - Carries an adequate supply of currency to i
meet a l l requirements of member banks i n Branch t e r r i t o r y . Receipts
and shipments during the six months ending June 30, 1920 amounted
to about one-fourth those of fee Head OfficeTelegraphic Transfers - Telegraphic transfers of funds to other Federal Reserve
bank* and branch c i t i e s made without cost to member banks .
Drafts on other Federal Reserve bank and branch c i t i e s accepted
for immediate credit on discount basis. Net earnings on transfers
bought during the three months ending March 31st, 1920,were

$5,351-07Private Wire System - Branch line maintained between Head Office and E l Paso for
transaction of a l l telegraphic business; monthly r e n t a l of branch
l i n e , $1,323* Salary paid to operator i n June, $125.
BANK PREMISES:




New building for exclusive use of the Branch to be occupied about
August 1st.

E l Paso - 6 1

-

EARNINGS AMD EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30,1920*
January 1-March 3 1
Earnings (Gross)

$15,916

Current Expenses:
Salaries
Other operating expenses
F. R. currency
Furniture and f i x t u r e s
AOw£U

$28,9*5

$5,665
^,719

-

$5,601
5,631

HlS
2,757
8, oUo

(Other

A p r i l 1-June 30

6l
3,09^
8,198

Net earnings

10,797
5,119

Ratio of t r a n s i t department expenses to
current expenses
—

—>

H , 292
17,693

25.5$

27

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, 1920:

Member hanks' reserve account
U. S. Government - general account
Due to Head Office
Deferred a v a i l a b i l i t y items (c)
Other deposits
Deductions from gross deposits:
Uncollected items

Jan.l-March 31
$U,699,122
311,911
(a)2,250,737
(2,967,^
(2,325,9*0
'S.fcft
^,991,936

A p r i l 1-June 30
$^,7^1,356
303,3%
(b) U, 500,295
2,^5,055
5.1*37
U, 1*63,829

(a) Maximum amount due to Head Office
$ 3,^98,OlU
March 29, 1920.
Minimum amount due to Head Office
186,835
Feb. 17, 1920.
(b) Maximum amount due to Head Office
U,6ll,7o2
May 28,
1920.
Minimum amount due to Head Office
2,380,U21
A p r i l 2 , 1§20.
(c) The larger figure f o r the period Jan. 1 to March 31 includes Gold S e t t l e ment Fund - Suspense credits carried prior to March 1, 1920, since which
date settlement through the Gold Fund has been made on date of c o l l e c t i o n
o f items.
Member _banksj. balances •
Reserve balance Payment - a/c
with
capi t a l stock
branch
w i t h head o f f i c e
State bank and t r u s t company members
March U, 1920
A l l member bsmks1, March 31, 1920




$ 378,526
^,715,983

$ 39,^95
283,095

E l Paso - 62 VOKJME OP PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and April 1 to June 30, 1920:
Jan.l-Mar. 31
Discounts for member hanks National hanks
State banks and trust companies
Acceptances bought i n open market - - Total discounted and purchased
bills

April 1-June 30
$4,738,079
764,092
- , ,

4,281,429

5,502,171

$3,078,000

Average daily b i l l holdings

$3,733,806
5^7,623
-

$5,158,000

CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during periods December 16, 1919 to March 15, 1920 and March 16 to
June 15, 1920:
Dec .l6-March 15
March 16 - June 15
Number
Amount Number
Amount
Items drami on banks 3n Branch c i t y 1,255
$518, l4o
1,605
$530,270
Items forwarded to Head Office
736
194,675
60S
143,745
Items drawn on banks in this d i s t r i c t outside of F.R. lank and branch c i t i e s
5,187
589,621
5,^1
572,447
Items forwarded to other P. R. banks
or branches
1,479
490,676
909
^3,^37
Items drawn on Treasurer of U. S. - 786
Q6fq4o
1,025
97,487
Total 9 , ^ 3 1,890,052
9,5^8
1,7^7,326
CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and. April 1 to June 30, 1920:
A p r i l 1-June 30
January 1-March 31
In
Outside
In
Outside
Branch Branch
Total Branch Branch Total
City
City
City
City
( I n thousands of dollars)
Currency received Prom member banks
Erom non-member' banks - Total
Currency shipped or delivered To member banks
To non-member banks
Total
Excess receipts - - —
Excess shipments




1,365

&

1,^29

1,365

639

1, s6o
M
2,00U

307

1,3*5

960

980

1,9*0

352

1,390

960

980

1,9*0

277

39

I105

1,188
241

1,036
1,038
238

6*
3*1

HOUSTON BRANCH
63
of the
.FEDERAL RESERVE RANK OF DALLAS
Opened for "business - - - August 4, 1919*
Home Address
Houston,
Texas*

DIRECTORS:
Guy M. Bryan,
Vice-President, Lumbermans National Bank
Frank Andrews,
Lawyer

Houston,
Texas*

R. M. Farrar,
President, National Bank of Camerce

Houston,
Texas.

J . J . Davis,
President, South Texas State Bank, Galveston, Texas

Galveston,
Texas*

E* F* Gossett,
Manager, Houston Branch

Houston,
Texas*

Meetings:

The t h i r d Tuesday of each month.

EXECUTIVE COESITTEE:

Three, including the mnnager•

PERSONNEL:

Three o f f i c e r s and sixty-seven employes (June 30, 1920)

TERRITORY ASSIGNED:

The following f i f t y - s i x counties i n Texas. F i f t y - f i v e
counties designated by F . R. Bank, Dallas, a t opening
of Branch August 4, 1919- Hio Grande County added A p r i l
3rd 1920.

Anderson
Caldwell
Angelina
Calhoun
Aransas
Cameron
Austin
Chambers
Bastrop
Cherokee
Colorado
Harris
Waller
Fayette
Fort Bend Jackson

Galveston
Goliad
Gonzales
Grimes
Hardin
Nueces
Houston
Refugio

Jasper
Jefferson
Jim Wells
Karnes
Kleberg
Walter
Liberty
Willacy

San Jacinto
San Patricio
Trinity
$yler
Victoria
Hidalgo
Burleson
Wharton

Madison
Matagorda
Montgomery
Nacogdoches
Newton
Brazoria
Washington
Rio Grande

Lee
Bee
DeWitt
Polk
Lavaca
Orange
Brazos
Live Oak

MEMBER BANKS IN BRANCH
TERRITORY:

At opening of Branch

May 4, 1920

NUMBER
CAPITAL AND SURPHJS
National
Non-National
National
Non-National
85
l4*
$19,069,500 $1,499,000

86

PAR LIST:
Number of non-member banks on par l i s t At opening o f Branch
June 30, 1920
T o t a l number of non-member banks i n Branch
t e r r i t o r y June 30, 1920, not on par l i s t



33

20,459,000

v
-

60
254
v

None

3,787,100

Houston - 6 4

-

POWERS AND JUNCTIONS EXERCISED BY BRANCH:
Deposits'- Member banks• Carries reserve accounts of banks assigned to deal vrith
Branch- Also authorized to carry balance for clearing non-member
banks*
- Government* Keeps Government account and receives and disburses
Government funds- Authorized-limit $300,0C0.
Discount and open market operations - Receives from banks and trust companies
authorized to deal d i r e c t l y with i t , . offerings of b i l l s , notes,
and other instruments of credit e l i g i b l e for discount by a Federal
Reserve Bank. Immediate credit for 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 at Dallas •
Clearing and Collection Department - Operates department for the clearing and
^collection of checks payable upon presentation, also for the collection of maturing notes and b i l l s - Handles about 16,350 items
daily• Houston banks route d i r e c t about 7,500 items daily for
credit a t Branch.
Gold Settlement Fund - Branch telegraphs Ibderal Reserve Board dally
for settlement through Gold Fund amounts collected for the account of other Federal Reserve banks*
Clearing House - Associate member of Local Clearing House without
cost, with clearing privileges only- A l l members of Clearing
House are members of the Federal Reserve System and clearing
house balances are paid by debit or credit entries to reserve
accounts on the books of the Branch*
/

Currency Receipts and Shixments - 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 six months ending
June 30th were equal to about one-half of those of parent bank.
Telegraphic Transfers - Makes telegraphic transfers to and from other d i s t r i c t s
for the account of manber banks»
Fiscal Agency Operations - A l l items to be handled through this department are
relayed to Dallas and handled through their Fiscal Agency department . Detailed entries are made on Branch books and totals only
reported to Head Office*
Private Wire System - Branch line from Dallas to Houston, monthly charge of
Salary paid to operator on the Dallas-Houston l i n e for
June, $110.
BANK PREMISES:




Occupies quarters on f i r s t and part of second floor of the Hermann
Building a t a monthly rental of $U00Federal Reserve Agent has
vault space i n the Union National Bank for which no rent is charged*

E/iKHNBfl AND EXPENSES

Houston - 6 5 -

Monthly average for periods January i to March 31, & & A p r i l 1 to June 30,1920.
January 1-Marbh 3 1 A p r i l 1-June 30*
Earnings (Gross)

$55,^72

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

$7,677
6,816

$87,523
$30,564
7,790

- _ -

^ *

Ratio of t r a n s i t department expenses
to current expenses
T ~ - - r - <—

1T l l 6
37*91
12,118

,
15,609

lf118
M70
15,002

39,863

19,672
67,851
.
23*7$

22

CHARACTER AND VOICME 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, 1920:

Member banks* reserve account - - - - - - U- S* Government - general attcouht
Due to Head Office - Deferred a v a i l a b i l i t y items (fc) Other deposits
- .. u Deductions from grosd deposits:
Uncollected items

Jaii.l-March 3 *
$ll,7*?5*179
290*0U4
U,381,656

A p r i l 1-June 30
$ll,^8U,935
•401,55**
(b) 9,562,57^
6,1^7,875

w,bb3,152
15r2qU

12.676

13,058,791

9,321,7^3

- *Includes uncollected items«
(a) Maximum amount due t o Head Office
$5,99^,^33
January 30,1920.Minimum amount due to Head Office
2,lb9,595
February 13,1920.
(b) Maximum mount due t o Head Office
12,552,596
June 25, 1920.
Minimum' amount due to Head Office
6,865,7*1
A p r i l 13, 1920*
(c) The larger figure f o r fee period Jan- 1 to March 3 1 includes Gold S e t t l e ment Fund - Suspense credits carried p r i o r to March 1, 1920, since which
date settlement through the Gold Fund has been made on date o f c o l l e c t i o n
of items*
Memter_banksJ. baJLances.
Reserve balance
Payment - a/c
with
c a p i t a l stock
Branch
w i t h Head Office
State bank and trust company members,
June 30, 1920
A l l member banks, June 30, 1920




$1,691,500
11,189,000

$101,850
727,380

Houston - 66

-

VOLUISE OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and A p r i l 1 to June 30, 1920:
Jan.l-Mar- 31
Discounts for member hanks National hanks
$16,583,920
State hanks and t r u s t companies
1,106,622
Acceptances bought i n open market - - - Total discounted and purchased
bills
17,690,5^2
Average daily b i l l holdings

A p r i l 1-June 30
$20,493,843
1,860,032
22,353,875

- - - 10,825,000

16,569,000

CLEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during periods December l 6 , 1919 to March 15, 1920 and March 16 to
June 15, 1920:
Dec.l6-March 15
March 16 - June 15
Number
Amount Number
Mount
items drawn on banks i n Branch c i t y 2,^58 $1,682,82*4 2,U63
$1,688,807
Items forwarded, to Head Office
701*'
2^7,993
3**8
142,476
Items drawn on banks i n t h i s d i s t r i c t outside of F.R.B'ank and Branch c i t i e s
10,020
1,165,658 12,151
1,573,152
Items forwarded to other F.R. banks
or branches
1 7 035
1,122,880
890
852,057
Items drawn on Treasurer of U. S. 2,^08
72.U7Q 2.770
117.004
Total

16,525

U,297,83U 18,622

U,379,396

CDHREWCr RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30,1920:
January 1-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch* Branch
Total Branch Branch Total
City ! City
City
City
| ( I n thousands of dollars)
i
1,313
78U
2,097
1,^51
568
2,019
UoQ
40Q
- .
94

Currency received:
From member banks
Fran non-member banks
Total

1,313

Excess receipts
Excess shipments




-

1,195

2,187

992
—

2,506

992

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

1,193

1,200

2,272
23U

321
~S7

1,U51

662

2,113

8SU 1,029
197
ssu 1,226

1,913
197
2,110

567
56U

3

67

ICS ANGELES BRAN(&
of the
FEDERAL RESERVE BANK OF SAN FRANCISCO
Opened for business

January 2, 1920
Home Address.
Los Angeles,
Calif.

DIRECTORS:
A* J . Waters,
President, Citizens National Bank, Los Angeles
H. M. Robinson,
President, F i r s t National Bank, and Los Angeles Trust
& Savings Bank, Los Angeles

Pasadena,
Calif-

J . F. Sartori,
President, Security Trust & Savings Bank, Los Angeles

Los Angeles,
Calif.

I . B. Newton,
Capitalist

Los Angeles,
Calif.

C. J• Shepherd,
Manager of Los Angeles Branch

Los Angeles,
Calif.

Meetings:

Friday following the f i r s t Tuesday of each month-

DISCOUNT COMMITTEE:

Three, the Manager and two other Directors* Passes upon a l l
offerings of loans and rediscounts, subject to approval of
Head Office. Meetings, Friday of each week.

PERSONNEL:

®nro officers and lUo employes (June 30, 1920)

TERRITORY ASSIGNED:

The following counties i n the States of Arizona and
Calif ornia*
ARIZONA
Apache
Goconimo

Gila
Maricopa

Mohave
Navajo

Pinal
Yavapai

Yuma

CALIFORNIA
Imperial
Inyo

Los Angeles Riverside
Orange
San Bernardino
Ventura

San Diego
Santa Barbara

MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening
of Branch l4k
11
$26,932,000 $11,901,000 $355,976,000 $17^,039,000
May U, 1920 144
17
29,236,000 16,220,000
363,663,000
208,019,000
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
r
June 30, 1920
Number of non-member banks i n Branch t e r r i t o r y
June 30, 192(5, not on par l i s t



l6l
169
None

Los Angeles -68 POWERS AND FUNCTIONS EXERCISED BY BRANCH:
De-posits - Member banks. Carries reserve and clearing accounts of banks
assigned to deal w i t h Branch.
- Government. Carries Government deposits; authorized l i m i t $100,000*
Pays warrants, coupons, e t c . , also redeems Definitive Certificates
of Indebtedness. Transcript i s rendered d a i l y to Treasurer of
United States.
Discount and open market operations - Rediscounts e l i g i b l e paper for member banks,
immediate credit for the proceeds being given on the books of the
Branch. Open market purchases are made upon order of and for account of Head O f f i c e .
Clearing and Collection Department - Operates department, for the clearing and
collection of checks and drafts payable upon presentation; also
for the collection of maturing notes and b i l l s . Handles about
21,043 items d a i l y . Member or clearing msaber 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, at the office of the
bank w i t h which a f f i l i a t e d . 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.
Gold Settlement Fund- - Telegraphs Federal Reserve Board d a i l y for
settlement through Gold Settlement Fund amounts collected for the
account of other Federal Reserve banks •
•

Clearing House - Member of Los Angeles Clearing House Association,
without vote. A l l members of the Los Angeles Clearing House are
member banks and clearing house settlements are made d a i l y on the
books of the Branch*
Currency Receipts and Shitments
notes to meet a l l
Currency receipts
1920, amounted to

- Carries an adequate supply of Federal Reserve
currency requirements of banks i n i t s t e r r i t o r y .
and shitments for the six months ending June 30,
about 3 * per cent of those of the Head O f f i c e .

Telegraphic Transfers - Makes direct telegraphic transfers to and from other
d i s t r i c t s for account of member banks.
Private Wire System - On Branch l i n e San Francisco-Los Angeles. Monthly r e n t a l
$9^0.
Salaries paid i n June to operators on Branch Line San
Francisco-Los Angeles $217*50.
BAM PREMISES:




Occupies quarters and has vault space i n the Washington Building,
3rd and Spring Streets, Los Angeles; monthly r e n t a l $965*

Los Angeles - 69 EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 31 and A p r i l 1 to June 30,1920.
January 1-March 31
Earnings (Gross)

$27,086

Current Expenses:
Salaries
Other operating expenses
F . R- currency
Furniture and f i x t u r e s
Total
(Transit
0 1
(Other

- -

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

$9,725
6,707
301
lr342
5,097
12,978 "18,075
9,011

28-7$

A

P * H 1-J^ne 30
$64, 890

$18,711
446
10,610
7,860
35,290 .43,150
21,7^0

18

.^

CHARACTER AND VOLUME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, hased on Friday night figures for periods
January 1 to March 31, and A p r i l 1 to June 30, 1920:

Member hanks1 reserve account - r
Due to Head Office
U. S. Government - general account*
Deferred a v a i l a b i l i t y itons (a)
Other deposits

Jan.1-March 3 1
$28,107,018
134,262
S'IS'SS
107.^62

A p r i l 1-June 30
$28,959,625
151,764
6,201,162
177ryHL

Deductions from Gross Deposits:
Due from Head Office
(b) 9,106,95**
(c) 6,475,192
Uncollected items
11,262,267
10,53^,952
* I n olv&ee uncollected items.
(a) The larger figure for the period Jan. 1 to March 3 1 includes Gold S e t t l e ment Fund - Suspense credits carried p r i o r to March 1, 1920, since which
date settlement through the Gold Fond has been made on date of c o l l e c t i o n
of items*
(b) Maximum amount due frcm Head Office
$18,804,650
January 2, 1920.
Minimum amount due frcm Head Office
5,448,563
March 5,
1920.
(c) Maximum amount due from Head Office
11,816,277
A p r i l 23, 1920.
Minimum amount due from Head Office
1,402,380
June 18, 1920.
Mamber_barQcsJ. balances^
Reserve balance
with
branch

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

State bank and trust
company members,
March U, 1920
A l l member banks - March 31, 1920



$8,517,686
27,295,852

$Uo7,100
1,228,U00

Los Angeles ~ 70 VOLUME OE PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 and A p r i l 1 to June 30, 1920:
J an. 1-March 31
Discounts for member hanks National banks State banks and trust companies
Acceptances bought i n cpen 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

$9,724,556
3^3,^36
10,067,992

16,022,173

5,507,000

t

$13,808,002
2,214,171

12,976,000

CLEARING AND COLLECTION DEPARTMENT: Average number and amount of i t e m s handled
d a i l y during periods January 2,
to March 15, 1920 and M a r c h lb to
June 15, 1920:
March 16- June 15
Jan. 2- March 15
Number
Amount Number
Amount
Items drawn on banks i n Branch c i t y - 2,689
$ 1 , 9 ^ , 5 7 1 3,717 $2,819,658
Items forwarded to Head Office
4l6
206,380
524
180,335
Items forwarded to other branches i n
this d i s t r i c t
82
20,563
117
18,387
Items drawn on banks i n t h i s d i s t r i c t outside I . H . Bank and Branch c i t i e s - 11,602
I , l 4 3 , 4 l 9 1^,397
1,451,9*2
Items forwarded to other E-R* banks or
branches
674
4i4,1S9 1,111
336,497
Items drawn on Treasurer of U. S. 558
204,875
74^
376.786
Total

16,021

3,935,997 20,609

-5,183,665

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, 1920:
January 1-March 31
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch
Total Branch Branch
Total
City
City
City
City
( I n thousands of dollars)
Currency received Ercm member banks
Ercm non-member banks
Total
Currency shipped or delivered:
To member banks
To non-member banks
Total
Excess receipts
Excess shipments



g

3,734
-

475
22b

4,209
226

4,256.
-

729
112

M

3,73^

701

4,435

4,256

841

5,097

2,613

1,826
-

4,439
-

3,594
-

2,562
-

6,156
z

2,613

1,826

4,439

3,59^

2,562

6,1*5

1,121
-

1,125

-

662
-

1,721

1,059

**

5
112

PORTLAND BRANCH

71

of the
FEDERAL RESERVE BANK OF SAN FRANCISCO
Opened for business —

October 1, 1917*

DIRECTORS:
J . C* Ainsworth,
President, United States National Bank, Portland, Oregon.

Home Address
Portland,
Oregon.

Nathan Strauss,
General Manager, Fleis'chner-Mayer & Co.,Portland, Oregon.

Portland,
Oregon.

Edward Cookingham,
President, Ladd & T i l ton Bank, Portland, Oregon 4

Portland,
Oregon.

J . N* Teal,
At to rney-*at- law, Portland, Oregon i

Portland,.
Oregon.

F- Greenwood,
Manager of-Portland Branch.

Portland, #
Oregon*

Meetings:

Wednesday following the f i r s t Tuesday of each month*

DISCOUNT COMMITTEE:

Three, the Manager, and two other Directors• Passes upon a l l
offerings of loans and rediscounts, subject to approval of
Head Office* Meetings, Monday and Thursday of each week*

PERSONNEL:

Ihro o f f i c e r s and 56 employes (June 30, 1920)

TERRITORY ASSIGNED:

The entire state of Oregon, except the towns of Klamath F a l l s ,
Lake view, and M e r r i l l , which are a f f i l i a t e d w i t h the Head
Office, and the following counties i n the State of Washington.
4
Clarke
Skamania
. Cowlitz
Klickitat
Wahkiakum

^

The towns of Klamath F a l l s , Lakeview, and M e r r i l l , Oregon,
were transferred from this Branch to the Head Office, January
1, 1920. On the same date K l i c k i t a t County Washington, was
transferred t o t h i s Branch from the Spokane Branch.
'MEMBER BANKS- I N BRANCH
TERRITORY:
NUMBER
CAPITAL AND SORPLUS
TOTAL RESOURCES
National Non-National National Non^National National Non-National
At opening of
branch —
S2
1
$15, ll 1 *, 9^3 $110,000
$139,753,000 $936,955
May **, 1920 - «9
20
15,9**6,000 3,769,000
190,3w,000 U6,849, 888
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1930
Total mmber of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t



-

139
177
None

Portland - 72 POWERS AND FUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks . Carrier reserve and clearing accounts of banks
assigned to deal w i t h Branch *
- Government. Carries Government deposits; authorized l i m i t $200,000.
Pays warrants, coupons, e t c . , also redeems D e f i n i t i v e Certificates
of Indebtedness. Transcript is'rendered d a i l y to Treasurer^of
United States.
Discount and open market operations - Rediscounts e l i g i b l e paper for member banks,
immediate c r e d i t for the proceeds being given on,tho books of the
Branch. Open market purchases are made upon order of and for account of Head Office•
Clearing and Collection Department - Operates department' for the clearing and
collection of checks and drafts payable upon presentation; also
for the collection of maturing notes and b i l l s v Handles about
9,013 items d a i l y . Member or clearing member bank may forward
checks d i r e c t to the Federal Reserve Bank of San Francisco and i t s
branches for c r e d i t to i t s reserve account, at the o f f i c e of the
bank w i t h which a f f i l i a t e d . Upon authorization, 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.
Gold Settlement Fund - Telegraphs Federal Reserve Board d a i l y for
settlement through Gold Fund amounts collected for the account of
other Federal Reserve banks.
Clearing House - Member of Portland Clearing House Association, without vote* A l l members of the Clearing House Association are either
members of or carry accounts w i t h Branch. Clearing settlements are
made d a i l y on books o f the Branch.
Currency Receipts and Shipments - Carries an adequate supply of F. R. notes to
meet a l l currency requirements of banks i n i t s t e r r i t o r y .
Currency receipts and shipnents for the six months ending June 30,
1920 amounted to about i 5 per cent of those of the Head O f f i c e .
Telegraphic Transfers - Makes d i r e c t telegraphic transfers to and from other
d i s t r i c t s for account of member banks*
Private Wire System Monthly
June to
Spokane
B N C PREMISES:
AE




On branch l i n e San Francisco-Portland-Seattle-Spokane.
r e n t a l for a i t i r e branch l i n e $2^80.
Salaries paid i n
operators on branch l i n e San Francisco-Portland-Seattle$7^0.'

Occupies quarters and has vault space i n the Ltsnbenrfeno Bank
Building, F i f t h and Stark Streets; monthly r e n t a l $300.

Portland - 73

-

EARNINGS AMD EXPENSES
Monthly average for periods January 1 to March 31, and A p r i l 1 to June 30, 1920 January 1-March 3 1
Earnings (Gross)

A p r i l 1-June 30

$28,420

Current expenses:
Salaries
Other operating expenses
F. R. currency
Purniture and fixtures
m , - (Transit
Total
(Other
jjet earnings

$4,427
2,492
50
11
1,552
5,428

$^7,139
_
.
$6,894
46
JUKI
l.b?7
9,948

'6,980

11,575

21,430'

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

35,564

22.4$

.
14.1%

CHARACTER AND VOLUME OP BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, hased on Friday night figures for periods
January 1 to March 31; and A p r i l 1 to June 30, 1920:

Member hanks1 reserve account
Due to Head Office
U.S.Government - general account, (c)
Deferred a v a i l a b i l i t y items (d)
Other deposits
Deductions from Gross Deposits:
Due from Head O'ffice
Uncollected items

Jan. 1-March 31
$lU,l46,037
285,890

A p r i l 1-June 30
$13,382,231
(a) 2,972,239
243,814

(l'85!'012

2,099,33^

' 27^908

^12. l4g

(b) 222,851
4,297,376

3,310,853
Ma

(a) Maximum amount due to* Head Office
$ 5,9^,5^8
F 2 * t 1 920.
Maximum-amount due from Head Office
1,391,360
Apr. 16,1920.
(b) Maximum amount due frcm Head Office
2,119,184
Feb. 13,1320.
Maximun amount due to Head Office
1,902,891
Jan. 16,1920.
(c) Includes uncollected items.
(d) The larger figure for the period Jan. 1 to March 31 includes Gold S e t t l e ment Fund- Suspense c r e d i t s carried p r i o r to March 1, 1920, since which
date settlement through the Gold Fund has been made on date of collection
of items*
Member_banis^ balances^
~
~
State bank and t r u s t company members
March 4, 1920 - A l l member banks liarch 31, 1920



Reserve balance
with
branch
$2,3^,053
12,113,^7

Payment - a/c
c a p i t a l stock
w i t h head o f f i c e
$107,250
579,750

Portland - 7 4 VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 3 1 and A p r i l 1 to June 30, 1920:
Jan sil-Mar. 3 1
Discounts for member hanks National hanks
State banks and trust companies
Acceptances bought i n open market

A p r i l 1-June 30

- $10,001,179
1,382,828
- -

Total discounted and purchased b i l l s -

$22,610,153
908,3217

11,384,007
6,163,000

Average d a i l y b i l l hbldings

23,518,^80
9,535,000

CLEARING AND COLLECTION tiE^ARHMENT: Average number and amount of items handled
d a i l y during periods December l 6 , I919 to March 15, 1920 and March 16 to
June 1^4 1920:
9
Dec .l6~March 15
March l 6 - June. 15
Number
Amount Number
Amount
Items drawn on banks i n Branch c i t y - - 1,878 $1,321,884 2,035
$1,^2,397
Items forwarded to Head Office
77
17,902
64
15,958
Items forwarded to other branches
i n this d i s t r i c t
731
143,672
804
137,823
Items drawn on banks i n t h i s d i s t r i c t out•
side of F. R. Bank and Branch c i t i e s - 4,480
366,351 M 3 1
424,217
Items forwarded to other F.R. banks or
branches
107
51,891
95
77,486
Items drawn on Treasurer o f U. S.
551
205.5Q8
685
265.4qo
Total

-

7,824

2,107,298

8,51^

2,413,371

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30, 1920:
January 1-March 3 1
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
( I n thousands of d o l l a r s )
Currency received Item member banks
Fran non-member banks Total
Currency shipped or delivered To member banks
To non-member banks
Total
Excess receipts
Excess shipnents -




2,019
n

222
2

2,24l
15

1,954
2

163
-

2,117
£

2,032

22U

2,256

1,956

163

2,119

1,413
10

299

1,712
^0

1,912
20

373

2,285
... ?0

1,443

299

1,742

1,932

373

2,305

589
-

75

51^
-

210

186

24
-

SALT LAKE BRANCH

75

of the
FEDERAL RESERVE BANK OP SAN FRANCISCO
Opened for business - A p r i l l f

I9I8.

DIRECTORS:
Home Address
L . H. Famsworth,
Salt Lake City,
Chairman of the Board, Walker Bros., Bankers, Salt Lake C i t y .
Utah.
G. G. Wright,
General Manager, Consolidated Wagon & Machine
Company, Salt Laks C i t y .

Salt Lake City,
Utah.

Chapin A, Day,
President, Ogden Portland Cement Co., Ogden, Utah*

Ogden, Utah.

LaPayette Hanchett,
Mining Ehgineer, Salt Lake C i t y .

Salt Lake City,
Utah.

R* B, Mothers?lly
Manager of Salt Lake City Branch*

Salt Lake City,
Utah*

Meetings:

Friday following the f i r s t Tuesday of each month*

DISCOUNT COMMITTEE:

Three, the Manager, and two other Directors. Passes upon
a l l offerings of loans and rediscounts, subject to approval
of Head O f f i c e . Meetings Tuesday and Friday of each week.

PERSONNEL:

Two o f f i c e r s and 117 employes (June 30, 1920)

TERRITORY ASSIGNED:

The e n t i r e s t a t e ' o f Utah, and the
Idaho and Nevada:
IDAHO
Ada
Boise
Ouster
Adams
, Bonneville Elmore
Bannock
Butte
Franklin
Bear Lake Camas
Fremont
Bingham
Canyon
Gem
Blaine
Cassia
Gooding

following counties i n

Jefferson
Lemhi
Lincoln
Madison
Mirmidoka
Oneida

Owyhee
Payette
Power
Teton
Twin F a l l s
Valley
Washington

NEVADA*
Clafrk

Elko

Lincoln

White Pine

MEMBER BANKS I N BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening of
branch
79
U
$9,815,78®
$795,250
$92;U23,000 $ 9 , 1 2 8 , 3 ^
May
1920
101
68
12,63^,000 7,856,000
130,^98,000 75,270,000
PAR LIST:
Number of non-member banks on1 par l i s t At opening of Branch
June 30, 1920

1SU
128

Nuaber o f non-member banks i n Branch t e r r i t o r y
June 30, 1920 not on par l i s t

None




Salt Late City - 7 6
POWERS AND FUNCTIONS EXERCISED BY BRANCH:
DepositB - Member "banks. Carries reserve and clearing accounts of banks assigned
to deal w i t h Branch*
- Government. Carries Government deposits; authorized l i m i t $100,000.
Pays warrants, coupons, e t c . f also redeems D e f i n i t i v e Certificates
of Indebtedness« Transcript i s rendered daily to Treasurer of
United States*
Discount and.onen market operations - Rediscounts e l i g i b l e paper for member banks',
Immediate c r e d i t for the proceeds being given on the books of the
Brancft* Open market purchases are made upon order of and for account bf Head Office *
Clearing and Collection Department - Operates department for the clearing and
c o l l e c t i o n of checks and d r a f t s payable upon presentation; also
for the collection o f maturing notes and b i l l s * Handles about
18,523 items daily* Member or clearing member bsnkmay forward
checks d i r e c t to the Federal Reserve Bank of San Francisco and
i t s branches for c r e d i t to i t s reserve account, at the o f f i c e of
the bank w i t h which a f f i l i a t e d . 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*
Gold Settlement Fund - Telegraphs Federal Reserve Board d a i l y for
settlement through Gold Fund amounts collected for the account of
other Itederal Reserve Banks*
Clearing House without vote*
e i t h e r members
ments are made

Member of S a l t Lake C i t y Clearing House Association,
A l l members of the Clearing House Association are
of or carry accounts w i t h Branch* Clearing s e t t l e d a i l y on books of the Branch*

Currency Receipts and Shitments - Carries an
meet a l l currency requirements
receipts and shipments f o r the
amounted to about 7
per cent

adequate supply of F . R. notes to
of banks i n i t s t e r r i t o r y * Currency
s i x months ending June 30, 1920,
of those of the Head Office •

Telegraphic Transfers - Makes d i r e c t telegraphic transfers to and frcm other
d i s t r i c t s for account o f member banks *
Private Wire System - On Main l i n e Chicago, Qnaha, Denver, Salt Lake City- San
Francisco* Salaries paid i n June to operators on Main.line Chicago,
Omaha, Denver, Salt Lake City - San franc isco $190*
BANK PREMISES:




Occupies quarters and has vault space i n Deseret Bank Building,
Salt Lake C i t y ; monthly r e n t a l $870.
Also has vault space i n
the vaults o f Walker Bros* and Deseret Savings Bank*

Salt Late City - 7 7 EARNINGS AND EXPENSES
Monthly average for periods January 1 to March 31, and- April 1 to June 30,1920.
January 1-March 31 April 1-June 30.
Earnings (Gross)

$103,910

Current expenses:
'Salaries
Other operating expenses
F. R. currency
Furniture and fixtures
,
(Transit
m
Total
(other

$7,198
3,578
58
86
3,441
7,479

- - -

- «et earnings

-10,920

$169,270
$13,181
5,5*8
.13
2 r 035
5,087
15,690

20,777

92,990

31-7$

Ratio of transit department expenses to
current expenses, exclusive of cost of
F. R. currency
_

148,493^

24.5%

CHARACTER AND VOLUME OF BUSINESS' HANDLED
DEPOSITS:

Average daily deposits, "based on Friday night figures for periods
January 1 to March 31, and" A p r i l 1 t i June 30, 1920:

Member hanks1 reserve account
Due to'Head Office
U. S. Government - general account (c)

-

Deferred a v a i l a b i l i t y items(d)
Other deposits
Deductions frczn gross deposits:
Uncollected items

Jan.1-March 31 A p r i l 1-June 30
$9,763,373
$8,770,763
(a)l6,64o,232
(h)28,906,361
131,158
151,912
(4,788,966
3,768,009
(4 178 433
5^276
7.756
7,278,598

(a) Maximum amount due to Head Office Minimtm amount due to Head Office -

£20,355,666
11,540,208

(b) Maximum amount due to Head Office Minimum amount due to Head Office -

34,978,746
21,705,368

6,249,023
March 26, 1920.
January 2,1920.

June 25,
April 2,

1920.
1920.

(c) Includes uncollected items.
(d) The larger figure for the period Jan. 1 to March 31 includes Gold Settlement Fund - Suspense credits carried prior to March 1, 1920, since which
date settlement through, the Gold Fund has been made on date of collection
of itans*
Memb^r^barfesJ. balances.
~
State bank and trust company members
March 4, 1920
A l l member banks', March 31, 1920

I


Reserve balance Payment - a/c
with
capital stock
branch
with head office
$3,261,178
8,904,516

$214,850
570,350

Salt Lake City - 7 8 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, 1920:
Jan.l-Mar.31
Discounts for member hanks National hanks
State hanks and t r u s t companies

A p r i l 1-June 30

$23,182,897
1 0 , 3 6 2
-

Acceptances "bought i n open market
Total discounted and purchased h i l l s

- -

$29,157,596
13,338,183
-

33,588,259
22,068,000

Average d a i l y h i l l holdings

^2,^95,779
33*293,000

CLEARING AND COLLECT ON DEPARTMENT: Average number and amount, of items handled
d a i l y during periods December l6, 1919 to March 15, 1920 and March 16 to
June 15, 1920:
„
Dec •lb-March 15 March 16 - June 15
Ntmber
Amount Number
Amount
Items drawn on banks i n Branch c i t y 1,560 $l,Ul7,^93
1,523
$1,226,2U9
Items forwarded to Head Office
63
25,788
52
37,3*8
Items forwarded to other
branches .in this d i s t r i c t - - - - ^
277
667,0^6
360
291,032
Items drawn on banks 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 - - 15i827
1,612,217 15,^79
1,388,983
Items forwarded to other Ft, R- banks
or branches
2^7
9^7,272
197
875, *73
Items drawn on Treasurer of U. S. - WO
Q2,223
UlU
8q r 72l
Total

18,3 2^

U, 762,039

18,025

3,908,806

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, 1920:
January 1-March 3 1
A p r i l 1-June 30
In
Outside
In
Outside
Branch Branch
T o t a l Branch Branch Total
City
City
City
City
( i n thousands of dollars)
Currency received Fran member banks
From non-member banks

—

-

8SS

75

—-f -

862
Currency shipped or delivered. To member .banks
To non-member banks

566
| —




—

930

215
-15

9U3

930

230

907
67

670

, — -- 5 2
r

3S2

1,052
50

97U

670

^32

1,102

2S0
-

202

1 — - -

75

566
Excess receipts - - —
Excess shipments

9U3

-il
tog

302
-

333

-

-

31

-

1,1^5
15
1,160

5S

SEATTLE BRANCH

79

of the
FEDERAL RESERVE BANK OF SAN FRANCISCO
Opened for business — September 19, 1917*
Home Address
Seattle,
Wash.

DIRECTORS:
M. F# Backus,
President, National Bank of Commerce, Seattle, Wash*
Chas. H- Clarke,
President, Kelly Clarke Co., Seattle, Wash.

Seattle,
Wash.

Mv A* Arnold,
President, F i r s t National Bank, Seattle, Wash.

Seattle,
Wash 4

Chas. E« Peabody,
Chairman of the Board, Puget Sound Navigation Co *,
*
Seattle, Wash.

Seat tie4
Wash.

Chas. A. McLean,
Manager of Seattle Branch

Seattle,
Wash-

Meetings:

Friday following the f i r s t Tuesday of each month.

DISCOUNT COMMITTEE:

Three, the Manager and two other Directors. Passes upon
a l l offerings of loans and rediscounts, subject to approval
of Head Office• Meetings, Friday of each week.

PERSONNEL:

Two officers and 66 employes (June 30, 1920)

TERRITORY ASSIQ3ED:

The following counties i n the State of Washington:
Clallam
Grays Harbor
Island
Jefferson

King
RL tsap
Kittitas
Lewis

MEMBER BANKS IN BRANCH
TERRITORY:
NUMBER
CAPITAL
National Non-National National
At opening
pf branch
3U
1
$9,768,1*50
May U, 1920
37
18
11,568,000

Mason
Skagit
Paci f i c
Snohomi sh
Pierce
Thurston
San Juan Whatcom

AND SURPLUS
TOTAL RESOURCES
Non-National National Non-National
$250,000
3,^57,000

$112,787,000
17^,870,000

PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1920

llU
10U

Number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t

None




$1,82^,087
Ugf0HU,000

Seattle

-

POWERS AND JUNCTIONS EXERCISED BY BRANCH:
Deposits - Member banks• Carries reserve and clearing accounts of banks assigned
to deal with Branch.
- Government. Carries Goverrment deposits; authorized l i m i t $1,000,000.
Pays warrants, coupons, e t c . , also redeems Definitive Certificates
of Indebtedness• Transcript i s rendered d a i l y to Treasurer of
United States*
Discount and open market operations - Rediscounts e l i g i b l e paper for member banks ,
immediate credit for the proceeds being given on the books of the
Branch* Open market purchases are made upon order of and for account of Head Office.
d e a r i n g 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 12,4-39 items
d a i l y . ' Member or clearing member bank may forward checks direct
to the Pederal Reserve Bank of San Erancisco and i t s branches
for credit to i t s reserve account, at the office of the bank with
which a f f i l i a t e d . Upon authorization, checks payable i n other,
d i s t r i c t s may be forwarded direct to other Pederal Reserve banks
and branches.
Gold Settlement Pund - Telegraphs Federal Reserve Board d a i l y for
settlement through Gold Settlement Fund amounts collected for the
account of other Federal Reserve banks *
Clearing House - Member of b a t t l e Clearing House Association, without
vote. A l l members of the Clearing House Association are either
members of or carry accounts w i t h Branch. Clearing settlements are
made d a i l y on books of the Branch*
Currency Receipts and Shirments - 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 . Currency receipts
and shipments for the six months ending June 30, 1920 amounted to
about 27 per cent of those of the Head Office.
Telegraphic Transfers - Makes d i r e c t telegraphic transfers to and from other
d i s t r i c t s for account of member banks.
Private Wire System Monthly
June to
Spokane
BJttJK PREMISES:




On branch line San Francisco-Portland-Seattle-Spokane.
r e n t a l for entire branch line $2UgO
. Salaries paid i n
operators on branch l i n e San Francisco-Portland-Seattle$730.

Occupies quarters and has vault space i n the Central Building,
310 Columbia Street. Monthly, r e n t a l $4l6.*'

EARNINGS AND EXPENSES

Seattle - 8 1

-

Monthly average for periods January 1 to March 31t and April 1 to June 30,1920.
January 1-March 31 April 1-June 30
Earnings (Gross)

$27,29^

Current Expenses:
Salaries
Other operating expenses
P. R. currency - - - - - —
Furniture and fixtures'
(Transit
m ^ ,
Total
(Other

$6,23*43,199
105
*408
2,567
7,379

Net earnings

$25,058
$9,366
4,331

9,9^

3f62l
4,526
12,839

17,365

17,3^8

Ratio of transit department expenses to
current expenses exclusive of cost of
P. R. currency

7,693

26.1$

26.1$

CHARACTER AND VOLUME OP BUSINESS HANDLED

DEPOSITS:

Average daily deposits, hased on Friday night figures for periods
January 1 to March 31, and A p r i l 1 to June 30, 1920:

Member banks1 reserve account Due to Head Office
U.S.. Government - general account - - Deferred a v a i l a b i l i t y items (c)
Other deposits
.
Deductions fran gross deposits:
Due from Head Office
Uncollected items

Jan. 1-March 31 April 1- June 30
$14,036,30b
$14,445,337
(a) 4,709,224
906,887
899,1^3
(^961*885
'608^760

-

MS9,707
466,261

8,213,1^2

(b) 2,107
6,257,677

(a) Maximum amount due to Head Office 0 7,217,874
January 30, 1920.
Maximum amount duo from Head Office
79,^38
March
19, 1920.
(b) Maximum amount due to Head Office
4,180,144
April
23, 1920Maximum amount due frcm Head Office
^,092,976
June
11, 1920.
(c) The larger figure for the period Jan. 1 to March 31 includes Gold Settlement Fund - Suspense credits carried prior to March 1, 1920, since which
date settlement through the Gold Fund has been made on date of collection
of items.
Member banks* balances.
Re serve balance
Payment- a/c
with
capital stock
branch
with head office <
State bank and trust company members
March 4, I92O
A l l member banks, March 31, 1920 


$2,316,810
14,462,187

$110,700
U43,850

Seattle - 8 2 VOLUME OF PAPER DISCOUNTED AND BOUGHT: Monthly average for periods January 1 to
March 31 ami' April 1 to June 30, 1920:
Jan.l-Mar.3i

A p r i l 1-June 30

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

$16,351,652
3,781,316
-

$l4,028,3|4
3,447,765
.

Total discounted and purchased b i l l s -

20,132,968

17,476,149

6,144,000

5,297,000

Average daily b i l l

holdings

-

CIEARINO AND COLLECTION DEPARTMENT: Average number and anount of items handled
daily during periods December 16, 1919• to March 15, 1920,and March 16 to
June 15, 1920:
Dec .l6-March 15 March l6 - June 15
Number
Amount Number
Mount
Items drawn on banks i n Branch c i t y 2,456 $1,754,363 2 » 6 2 1 $1,844,888
Items forwarded to Head Office
97
120,863
107
'49,162
Items forwarded to other
branches i n this d i s t r i c t
988
177,431 1,034
171,107
Items dram on banks i n this d i s t r i c t outside of IMUbaric and branch c i t i e s 5,699
562,156 6,472
672,492
Items forwarded to other !F.B. banks
or branches
421
198,703
506
264,900
Items drawn on Treasurer of U. S.
3Q1.6Q7
Q46
165.913
Total

10,500

3,205,213 11,686

3,368,462

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average for periods January 1 to March
31, and A p r i l 1 to June 30, 1920:
January 1-March 3 1
April 1-June 30
In
Outside
In
Outside
Branch Branch Total
Branch Branch Total
City
City
City
City
( I n thousands of dollars)
Currency received Fran member banks
Item nan-member banks
Total

3,717 358
86
53
3,803
4ll

4,075
3,130 209
IV*
78
52
4,214 3,208
261

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

1,824 1,112
283
1
2,107 1,113

2,936
284
3,220

~ 'Excess receipts
Excess shipments



---1,696
-

702

994
-

3,339
1?Q
3,469

2,230 1,32?
3,559
108 54
162
2,338 1,385 3,721
870 1,122

252

SPOKANE BRANCH
of the

S3

FEDERAL RESERVE BANK OF SAN FRANCISCO
Opened for business - July 26, 1917
DIRECTORS:
D, W. Twohy,
Chairman of the Board, Old National Bank, Spokane, Wash,

Home Address
Spokane,
Wash.

Peter McGregor,
•President, McGregor Land & Livestock Co-, Hooper, Wash.

Hooper,
Wash.

R. L. Rutter,
President, Spokane and Eastern Trust Co*, Spokane, Wash.

Spokane,
Wash.

G« I . Toevs,
Vice-President, Centennial M i l l Co., Seattle, Wash.

Seattle,
Wash.

W. L . Partner,
Manager of Spokane Branch

Spokane,
Wash.

Meetings:

Friday following the f i r s t Tuesday of each month.

DISCOUNT COMMITTEE:

Three, the Manager, and two other Directors • Passes upon
a l l offerings of loans and rediscounts, subject to approval
of Head Office- Meetings, Wednesday and Friday of each week.

PERSCHMEL:

Ttoo o f f i c e r s and U9 employes (June 30, 1920)

TERRITORY ASSIGNED:

The following counties i n the States of Washington and Idaho:

WASHINGTON:

Adams
Ferry
Grant

IDAHO:

Benewah
Bonner
Boundary

Note:

Douglas
Okanogan
Garfield

Lincoln
Whitman
Pend 0 * R e i l l e

Walla Walla
Franklin
Spokane

Clearwater
Shoshone
Kootenai

Latah
Idaho
Lewis

Asotin Benton
Yakima Chelan
Stevens Columbia
Nezperce

K l i c k i t a t County was transferred from t h i s Branch to Portland Branch
January 1, 1920.

MEMBER BANKS I N BRANCH
TERRITORY:
NUMBER
CAPITAL AND SURPLUS
TOTAL RESOURCES
National Non-National National Non-National National Non-National
At opening of
branch
60
$8,956,000
$$3,5^6,000
May h, 1920
61
32
8,702,ooo $3,3.59,000 105,619,000 $33,919,000
PAR LIST:
Number of non-member banks on par l i s t At opening of Branch
June 30, 1920 - 'Number of non-member banks i n Branch t e r r i t o r y
June 30, 1920, not on par l i s t



~ -

193
167
None.

Spokane -84

-

POWERS AND FUNCTIONS EXERCISED BY BTOTCH;
Deposits - Member banks. Carries reserve and clearing accounts of banks assigned
to deal with branch.
- Government. Carries Government deposits; authorized l i m i t $200,000.
Pays warrants, coupons, etc., also redeems Definitive Certificates
of ^Indebtedness. Transcript i s rendered daily to Treasurer of
United States.
Discount and open market operations - Rediscounts e l i g i b l e paper for member banks ,
immediate credit for the proceeds being given on the books of the
Branch. Open market purchases are made upon order of and for account of Head OfficeClearing and Collection De-partment - 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 8,32U items
d a i l y . Member or clearing member bank may forward checks direct
to the Federal Reserve Bank of San Francisco and its branches for
credit to i t s reserve account, at the o f f i c e of the bank with which
a f f i l i a t e d . 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.
Gold Settlement Rand - Telegraphs Federal Reserve Board d a i l y for
settlement through Gold Settlement Rand amounts collected f o r the
account of other Federal Reserve Banks*
Clearing House - Member of Spokane Clearing House Association, without
vote* A l l members of the Clearing House Association are either
members of or carry accounts with Branch.. Clearing settlements are
made d a i l y on books of the Branch.
Currency Receipts and Shipments - Carries an adequate supply of F. R. notes to
meet a l l currency requirements of banks i n i t s t e r r i t o r y . Currency
receipts and shipments for the six months ending June 30, 1920,
amounted to about 5 per cent of those of the Head Office*
Telegraphic Transfers - Makes direct telegraphic transfers to and from other
d i s t r i c t s for account of member banks.
Private Wire System - On Branch line San Francisco, Portland, Seattle and Spokane.
Monthly r e n t a l for entire branch line $2^80.
Salaries paid i n
June to operators on branch l i n e San Francisco, Portland, Seattle
and Spokane $730.
BANK PREMISES:




Occupies quarters and has vault space i n the Auditorium Building,
N. W. Corner Post Street and Main Avenue • Monthly r e n t a l $U50.

Spokane -eg

-

EARNINGS AMD EXPENSES
.Monthly average for periods January 1 to March 31, an*3- A p r i l 1 to June 30, 1920
January 1-March 31 A p r i l 1-June 30
Earnings (Gross)

$35,7^

$2U,925

Current expenses:
Salaries - - ,
Other operating expenses - - - —
P. R. currency
- - — - - —
Furniture and f i x t u r e s - — - - , (Transit
m
Total (other
i;et earnings

$7,669
2,789

$5,393
2,S84
20
260
2,681
5,876

S,55T

10
1,187
3,051
8,60^

•11,655

16,368

- -

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

2U,090

26-2$

—

CHARACTER AND VOIPME OF BUSINESS HANDLED
DEPOSITS:

Average d a i l y deposits, hased on Friday night figures for periods
January 1 to March 31, and A p r i l 1 i o Juhe 30, 1920:

Member hanks1 reserve account - —
Due to Head Office
U.S. Government - general account
,
Deferred a v a i l a b i l i t y items ( c )
Other deposits

- - -

—

Deductions from gross deposits:
Uncollected items *.

-

Jan.l-March 31 A p r i l 1-June 30
$7,028,216
$7,359,030
(b) 5,106,76^
(a) 2,961,521

136,629

131,665

(2,152,6^3
(1,95^71
61,265

1,725,682

3,^87,226

.2,806,0^8

71,999

March 5, 1920•
(a) Maximum amount due to Head Office
§ U,6l6,287
January 2,1920<
Minimum amount due to Head Office
1,198,985
June 18, 1920.
(b) Maximum amount due'to Head Office —
9,668,782
Ap l
Minimum amount due to Head Office —
2,371,763
^ p *r*i* l b , 1920..
j.^ev..
(c) The larger figure f o r the period Jan. 1 to March 31 includes Gold Settlement Fund - Suspense credits carried p r i o r to March 1, 1920, since which
date settlement through the Gold Fund has been made on date of collection
o f items.
Memter^banksJ. telance_s.
Reserve balance Payment- a/c
with
c a p i t a l stock
branch
w i t h head o f f i c e
State bank and t r u s t company members,
March U, 1920
A l l member banks', March 31, 1920



r $828,767

7,^2,020

$88,200
3^1,^00

Spokanfc -

86-

tfOIUME OF PAPER DISCOUNTED AND BOUGHT:. Monthly average for periods January 1 to
March 31, and A p r i l 1 to June 30, 1920:
Jan.l-Mar. 31
Discounts for member hanks National hanks - :
State hanks and trust companies
Acceptances bought i n open market
Total discounted and purchased
bills

A p r i l 1-June 30

$4,961,000
8J8,000
-

$6,"583,000
2,450,000
-

5,799,000

8,834,000

5,015,000

6,883,000

Average daily b i l l holdings

CUEARING AND COLLECTION DEPARTMENT: Average number and amount of items handled
d a i l y during periods December l 6 , 1919, to March 15, 1920, and March 16 to
June 15, 1920:
Dec .l6-March 15
March 16 - June 15
Number
Amount Number
Amount
Items drawn on banks i n Branch c i t y - - 1,001
$765,557
1,045
$776,555
Items forwarded to Head Officfe
13
22,631
10
17,228
Items forwarded to other
branches i n t h i s d i s t r i c t
678
287,970
649
217,620
Items drawn on banks in this d i s t r i c t outside of F.R.Bank and Branch c i t i e s - 5 , 9 ^ 5
^83,594
5,815
494,667
Items drawn on. banks i n other F . R . d i s t r i c t s •
Forwarded direct to drawee batiks —
8
8,262
8
453
Forwarded to other F.R.banks or
branches
155
171,782
225
175,143
Items drawn on Treasurer of U. S.
251
30.q64
3"5Q
33,023
Total

8,051

1,770,760

8,091

1,71^,689

CURRENCY RECEIPTS AND SHIPMENTS: Monthly average f o r periods January 1 to March
31, end A p r i l 1 to June 30, 1920:
January 1-March 31
In
Outside
Branch Branch
Total
City
City
^

A p r i l 1-June 3.0
In
Outside
Branch Branch Total
City
City

( i n thousands of dollars)
Currency received:
From member banks
From non-member banks

692
4

30

722
5

673
-JUL

30

703
«JL1

Total

696

31

727

6g4

30

7lU

490
J£0

.
139
J5Q

629
50.

673
„,l6

225

" S9|
-1&

510

169,

679

689

225

91^

186
-

138

48
-

5

195

200

Currency shipped or delivered:
To member banks
To notwnember banks
Total

- -

Excess receipts
Excess shipments




- -

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