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A N N U A L STATEM ENT, 1964

FE D E R A L R ESER VE BANK
O F S A N FR A N C IS C O




J A N U A R Y 6, 1965

To the Member Banks of the
Twelfth Federal Reserve District.
D ear Sir s :

There is presented herewith a condensed comparative
statement of condition of the Federal Reserve Bank of
San Francisco, including branches, at the close of business
December 31,1964, and December 31,1963, together with
a comparison of earnings and expenses for 1964 and 1963.
Yours very truly,

President.

COMPARATIVE STATEMENT OF CONDITION
ASSETS
Dec. 31,1964
Gold certificates..............................................................................................................$1,946,389,254.89
Redemption fund for Federal Reserve notes - - - - - 181,517,879.57
Total gold certificate reserves - - - - - - $2,127,907,134.46
Federal Reserve notes of other Federal Reserve banks - - - - - 65,054,330.00
Other c a s h ......................................................................................................................
21,158,583.39
Discounts and advances:
Secured by United States Government obligations - - - - - Other discounts and advances - - - - - - Total discounts and advances

—0—
12,520,000.00
12,520,000.00

Dec. 31,1963
$1,671,083,511.70
153,643,754.57
$1,824,727,266.27
51,364,785.00
29,760,058.94

$

300,000.00
4,256,000.00
4,556,000.00

United States Government securities:
B i l l s .............................................................................................................................. 791,799,000.00
C e r tific a te s .......................................................................- - - - —0—
N o tes.............................................................................................................................. 3,299,616,000.00
Bonds.............................................................................................................................. 690,970,000.00
Total United States Government securities - - - - - - $4,782,385,000.00
Total loans and securities - - - - - - - - - - - $4,794,905,000.00

540,426,000.00
922,094,000.00
2,313,516,000.00
606,193,000.00
$4,382,229,000.00
$4,386,785,000.00

Cash items in process of collection........................................887,037,176.87
Bank p r e m is e s ..............................................................................................
9,753,076.00
Other a s s e t s ......................................................................................................................
72,964,757.47
Total a s s e t s ...................................................................................................... $7,978,780,058.19

779,501,980.79
10,176,322.41
52,363,491.55
$7,134,678,904.96

LIABILITIES
Federal Reserve notes

- - $3,962,978,508.00

$3,590,043,130.00

Deposits:
Member bank — reserve accounts - - - - - - 3,021,446,480.05
United States Treasurer — general account - - - - - - 59,932,462.23
F o r e ig n ......................................................................................................................
29,480,000.00
Other d e p o s i t s ......................................................................................................
67,840,063.49
Total d e p o s i t s ...............................................................................................$3,178,699,005.77

2,649,410,635.40
79,995,872.81
21,280,000.00
45,150,628.43
$2,795,837,136.64

Deferred availability cash i t e m s ............................................................................... 612,464,684.49
Other lia b ilitie s ..............................................................................................................
84,346,359.93
Total liabilities...................................................................................................... $7,838,488,558.19

539,953,183.98
10,366,804.34
$6,936,200,254.96

CAPITAL ACCOUNTS
Capital paid i n ..............................................................................................................$ 70,145,750.00
S u r p lu s ..............................................................................................................................
70,145,750.00
Total liabilities and capital accounts - - - - - $7,978,780,058.19

$ 66,159,550.00
132,319,100.00
$7,134,678,904.96

Contingent liability on acceptances purchased for foreign correspondents - - $ 16,455,200.00

$ 12,222,700.00




-

- -

- -

- -

- -

- -

FEDERAL RESERVE BANK OF SAN FRANCISCO

EARNINGS AND EXPENSES
CURRENT EARNINGS

1964

............................... .............................................
Discounts and advances
United States Government se c u r itie s............................... .......
Foreign c u r r e n c ie s .....................................................................
All other..........................................................................................................................

$

949,974.85
177,004,595.15
853,092.47
38,355.51

Total current e a r n i n g s ............................................................................ $178,846,017.98

1963
$

602,553.93
147,949,251.54
271,769.65
33,294.15

$148,856,869.27

CURRENT EXPENSES
Total current expenses - - - - - - - - - - Less Reimbursement for certain fiscal agency and other expenses - - Net expenses...............................................- - - - - -

$ 23,427,399.82
2,046,668.41

$ 21,398,008.96

$ 21,380,731.41

$157,448,009.02

-

$ 23,454,497.64
2,056,488.68

$127,476,137.86

83,021.71
33,375.22

39,628.50
69,228.81

PROFIT AND LOSS
Current net earnings...............................................Additions to current net earnings:
Profits on sales of United States Government securities (net) . . .
A llo th e r ...................................................................................................................
Total a d d it io n s ............................................................................................$
Deductions from current net earnings - - - - - - - - -

-

116,396.93

$

108,857.31

$

$

16,213.11

8,066.19

Net additions...................................................................................................................$

108,330.74

Net earnings before payments to United States Treasury - - - - Dividends paid - - - - - - - - - - - Payments to United States Treasury (interest on Federal Reserve notes) -

$157,556,339.76
4,110,355.78
215,619,333.98

$127,568,782.06
3,846,063.12
115,212,118.94

Transferred to Surplus
Surplus January 1

$-62,173,350.00
132,319,100.00

$ 8,510,600.00
123,808,500.00

Surplus December 31 -

$ 70,145,750.00

$132,319,100.00




$92,644.20

DIRECTORS AND OFFICERS
December 31,1964
DIRECTORS
F.
B . W h it m a n , S an F rancisco , C alifo rn ia , C h a irm an an d F e d e ra l R eserve A g e n t
J o h n D . F red er ic k s , L os A ngeles, C alifo rn ia, D eputy C h a irm an
M . V ila s H ubbard , P a sa d e n a , C a lifo rn ia
C arroll F . B yrd , W illow s, C alifo rn ia
W a lter S. J o h n so n , S an F ra n c isc o , C a lifo rn ia
C h a r l e s F . F r a n k l a n d , S ea ttle, W ash in g to n
F red H . M err ill , S a n F ra n c isc o , C a lifo rn ia
F red eric S. H ir s c h l e r , S an F rancisco , C alifo rn ia
J o s e p h R o sen bla tt , S a lt L ak e C ity, U ta h

MEMBER OF FEDERAL ADVISORY COUNCIL
R an so m M. C ook, San Francisco, California

OFFICERS

E lio t J. S w a n , P re sid e n t
H.
E . H em m ing s, F ir s t V ice P re sid e n t
J. L. B a r b o n c h ie lli, V ice P re sid e n t
E . R . B a rg le b a u g h , V ice P re sid e n t, an d M a n a g e r o f S e a ttle B ra n c h
W . M. B ro w n , V ice P re sid en t, an d M a n a g e r of P o rtla n d B ra n c h
P . W . C a v a n , V ice P re sid e n t
D.
M. D avenport , V ice P re sid e n t
E . H . G a l v in , V ice P re sid e n t
D avid L . G rove , V ice P re sid e n t
A . B. M e r r itt , V ice P re sid e n t
A . L. P rice , Vice P re sid en t, an d M a n a g e r o f S a lt L ak e C ity B ra n c h
C. H . W a tk in s , V ice P re sid en t, a n d M a n a g e r o f Los A ngeles B ra n c h
E . J. M a r te n s , C ash ier
R ix M aurer , J r ., A ss is ta n t V ice P re sid e n t
D. V . M a s te n , Assistant Cashier
T. W . B a r r e t t , Assistant Cashier
R . G. R e t a l l i c k , Assistant Cashier
E . E . B e r n s te in , Assistant Cashier
E. A. W e lls , Assistant Cashier
E . E . L iv in g s to n , Assistant Cashier
J. B. W illia m s , Assistant Cashier
G a u lt W . L y n n , Director of Research
G. D. H a r t l i n , General Auditor
W illia m M. B u rk e , Senior Economist
R . E. M c K e n d ry , Assistant General Auditor
H. B. J a m is o n , Chief Examiner
W a l t e r F . S c o tt, General Counsel
C. H. W h itw o r th , Administrative Assistant
W illia m L . C oo p er, Assistant General Counsel

LOS ANGELES BRANCH

SALT LAKE CITY BRANCH

S. A lf r e d H a lg r e n , C h airm an

H o w a rd W . P ric e , Chairman
A la n B. B lo o d
T h o m a s B . R o w la n d
R eed E. H o l t
V. R. S te f f e n s e n

DIRECTORS

R a lp h V. A r n o ld
R oy A . B r it t

OFFICERS

A r t h u r G. C oons
D ouglas S h ively

C. H . W a tk i n s , Vice President, and Manager
D . M. D a v e n p o rt, Vice President
W . E. C a r te r , Assistant Manager
M. A. J o n e s , Assistant Manager
G. R . K e l ly , Assistant Manager
G. D . P a r k e r , Assistant Manager
J . R . R o b in so n , Assistant Manager

PORTLAND BRANCH
DIRECTORS

D. S. B a k e r
E . M. F l o h r

G r a h a m J . B arbey , C hairm an
E . J . K olar
R aymond R. R eter

OFFICERS

W . M. B ro w n , Vice President, and Manager
W . G. D e V rie s, Assistant Vice President
F. K . G rim m , Assistant Manager
F. R . S k in n e r , Assistant Manager



DIRECTORS

OFFICERS
A. L. P ric e , Vice President, and Manager
T. M. S im m o ns, Assistant Vice President
R . C. D u n n , Assistant Manager
A. G. H o lm a n , Assistant Manager

SEATTLE BRANCH
DIRECTORS

R obert D. O b r i e n , C h a irm an
M ax w ell C a rlso n
W il l ia m M c G regor
M. F. H a s tin g s
C h a s. H . P a r k s

OFFICERS

E . R. B a rg le b a u g h , Vice President, and Manager
W . R. S a n d s tro m , Assistant Vice President
R. P. G la sc o c k , Assistant Manager
A. C. L a iti, Assistant Manager

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