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FE D E R A L R ESER VE BAN K
O F S A N FR A N C ISC O




A N N U A L STATEM ENT. 1966

JA N U A R Y 5, 1967

To the Member Banks of the
Twelfth Federal Reserve District.
D ear S i r 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 31,1966, and December 31,1965, together with
a comparison of earnings and expenses for 1966 and 1965.
Yours very truly,

President.

COMPARATIVE STATEMENT OF CONDITION
Dec. 31,1966
$1,353,160,459.95
219,387,960.57
$1,572,548,420.52
87,147,454.00
32,175,448.80

Discounts and advances:
Secured by United States Government obligations
Other discounts and advances - - - - United States Government securities:
B i l l s ...............................................................................
Certificates - - - - - Notes
- - - - - Bonds - - - - - - - - - - Total United States Government securities
Total loans and securities - - - - - - - - - -

Dec. 31,1965
$1,255,297,609.81
203,931,449.57
$1,459,229,059.38
89,906,415.00
17,129,138.57

15,482,000.00
42,518,000.00
$ 58,000,000.00

ASSETS
Gold certificates - - - - - - - - Redemption fund for Federal Reserve notes
Total gold certificate reserves Federal Reserve notes of other Federal Reserve banks
Other cash - - - - - -

‘_o__
5,494,000.00
5,494,000.00

$

1,617,739,000.00
596,324,000.00
2,919,518,000.00
849,565,000.00
$5,983,146,000.00
- $6,041,146,000.00

1,243,942,000.00
—0—
3,393,577,000.00
895,259,000.00
$5,532,778,000.00
$5,538,272,000.00

Cash items in process of collection - - - - - - - - - - 1,006,392,038.14
Bank premises - - - - - - - - 9,390,287.14
Other a s s e ts ......................................................................................................................
160,400,141.64
Total a s s e t s ................................................................- - - $8,909,199,790.24

847,195,173.88
9,812,996.17
128,566,830.54
$8,090,111,613.54

LIABILITIES
Federal Reserve notes

-

- -

- -

- -

- -

- -

- -

$4,681,767,159.00 $4,313,003,926.00

Deposits:
Member bank — reserve accounts - - - - - - 3,248,511,244.13 2,864,347,674.57
United States Treasurer — general account - - - - - - 2,495,341.49
56,166,101.97
F o r e ig n ......................................................................................................................
20,960,000.00
20,100,000.00
Other d e p o s i t s ......................................................................................................
84,839,362.39
71,361,613.11
Total d e p o s i t s ...............................................................................................$3,356,805,948.01
$3,011,975,389.65
Deferred availability cash items - - - - - - Other liabilities - - - - - - - - Total liabilities......................................................................................................

691,928,763.73
30,588,719.50
8,761,090,590.24

595,999,690.22
24,523,007.67
7,945,502,013.54

CAPITAL ACCOUNTS
Capital paid in 74,054,600.00 $ 72,304,800.00
S u r p lu s ..............................................................................................................................$ 74,054,600.00
$ 72,304,800.00
Total liabilities and capital accounts - - - - - $8,909,199,790.24 $8,090,111,613.54

Contingent liability on acceptances purchased for foreign correspondents - - $ 25,125,800.00 $ 19,242,400.00




FEDERAL RESERVE BANK OF SAN FRANCISCO

EARNINGS AND EXPENSES
CURRENT EARNINGS

1966

Total current earnings

$ 1,620,206.36
255,421,562.74
2,881,908.25
61,452.17

$ 1,820,577.55
209,743,657.01
1,872,472.68
43,188.29

$259,985,129.52

Discounts and a d v a n c e s...............................................- - - - - United States Government securities - - - - - - - - - Foreign currencies
All other...........................................................................................................................

1965

$213,479,895.53

$ 23,731,971.25
2,031,515.59

$ 23,637,407.67
2,017,533.50

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

Net expenses....................................................................................................$ 21,700,455.66
PROFIT AND LOSS
Current net earnings - - - - - - - - - -

$238,284,673.86

$191,860,021.36

Additions to current net earnings - - - .......................................................

$

183,361.12

$

144,304.68

Deductions from current net earnings:
Loss on sales of United States Government securities - - - - A llo th e r ...................................................................................................................

$

344,379.08
7,189.01

$

1,846.43
5,604.16

$

351,568.09

$

7,450.59

Total deductions -

- -

- -

- -

- -

- - -

- -

-

$ 21,619,874.17

- -

Net additions (+ ) or deductions (—) - .............................................................

$ —168,206.97

$ +136,854.09

Net earnings before payments to United States Treasury - - - - Dividends p a i d ................................- - - - - - - - - Payments to United States Treasury (interest on Federal Reserve notes) -

$238,116,466.89
4,391,237.90
231,975,428.99

$191,996,875.45
4,285,861.63
185,551,963.82

Transferred to Surplus - - - - - - - - - - - - Surplus January 1 - - - - - - - - - - - - - -

$ 1,749,800.00
72,304,800.00

$ 2,159,050.00
70,145,750.00

$ 74,054,600.00

$ 72,304,800.00

Surplus December 3 1 - - - - - - - - - - - - -




-

DIRECTORS AND OFFICERS
December 31, 1966
DIRECTORS
F rederic S. H irsch ler , 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 r e d e r ic k s , L os A ngeles, C alifo rn ia, D eputy C h a irm an
C h a r les F . F r a n k l a n d , S ea ttle, W a sh in g to n
R a l p h V . A rn o ld , O n tario , C alifo rn ia
M arron K en d r ic k , S an F ran cisco , C a lifo rn ia
H . D. A rm str o n g , S a n F ran cisco , C alifo rn ia
B ernard T . R occa , J r ., S an F ran cisco , C a lifo rn ia
C arroll F . B yrd , W illow s, 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, a n 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 , Vice P re sid en t, an d M a n a g e r o f P o rtla n d B ra n c h
P . W . C av an , Vice P re sid en t, an d M a n a g e r o f Los A ngeles B ra n c h
J . H o w a rd C ra v e n , V ice P re sid e n t
D. M. D avenport , V ice P re sid e n t
I r w in L. J e n n in g s , V ice P re sid e n t
G.
R. K e lly , V ice P re sid e n t
E . J . M a rte n s , V ice P re sid e n t an d C ash ier
A . B. M e r r i tt, V ice P re sid e n t
A . L. P ric e , Vice P resid 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
W a lte r F . S c o tt, V ice P re sid e n t an d G en eral C ounsel
H . B. J a m is o n , Assistant Vice President
E . A. W e lls , Assistant Vice President
Rix M a u r e r, J r ., Assistant Vice President
J . B. W illia m s , Assistant Vice President
T. W . B a r r e t t , Assistant Cashier
E. E. L iv in g s to n , Assistant Cashier
E. E. B e r n s te in , Assistant Cashier
D. V . M a s te n , Assistant Cashier
R. G. R e t a ll ic k , Assistant Cashier
G. D. H a r t l i n , General Auditor
G a u l t W . L y n n , Director of Research
R. E. M c K e n d ry , Assistant General Auditor
W illia m M. B u rk e , Senior Economist
R. A. K a r ls s o n , Chief Examiner
W illia m L. C ooper, Assistant General Counsel

LOS ANGELES BRANCH

SALT LAKE CITY BRANCH

S. A lf r e d H a lg r e n , C hairm an
A r t h u r G. C o o n s
D o u g la s S h iv e ly
S h e r m a n H a z e l t in e
H arry J . V olk
O F F IC E R S
P . W. C a v a n , V ice P re sid e n t, an d M anager
G. R . K e lly , V ice P re sid e n t
J . R . R o b in s o n , A s s is ta n t V ice P re sid e n t
W. E . C a r te r , A ss is ta n t M anager
J . M . D av is, A ss is ta n t M anager
M . A . J o n e s , A ssista n t M anager
G. D . P a r k e r , A ssista n t M an ag er

P e t e r E . M a rb le , C h a irm an
A la n B. B lo o d
R o y d en G. D e r r ic k
N ew e ll B. D ayton
W m . E . I r v in

DIRECTORS

PORTLAND BRANCH

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

DIRECTORS

R o b e rt D. O b r ie n , C h a irm an
M a x w e ll C a r ls o n
W illia m M c G re g o r
M. F. H a s tin g s
C h a s. H . P a r k s

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 i n n e r , Assistant Manager

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

R obert F . D w y er , C hairm an
G r a h a m J . B arbey
E . M. F lohr
E . W . F ir sten b u r g
E . J . K olar




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