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FEDERAL RESERVE HANK T *ANNUAL REPORT OF THE FFDERAL RESERVE BANK OF ATLANTA \I Y -4 A L *- A I I officers. 3464 Federal Kesewe Bank of Atlanta DIRECTORS H. G. Pattillo, (Chairman), President, Pattillo Construction Company Decatur, Georgia Clifford M. Kirtland, Jr., (Deputy Chairman), Presjdent, Cox Broadcasting Corporation, Atlanta, Georgia F. Evans Farwell, President, Milliken and Farwell, Inc., New Orleans, Louisiana Ulysses V. Goodwyn, Executive Vice President, Southern Natural Resources, Inc., Birmingham, Alabama Robert D. Hornbeck, Manager-Tennessee Alcoa, Tennessee Operations, Aluminum Company of America, George W. Jenkins, Chairman, Publix Super Markets, Inc., Lakeland, Florida Jack P. Keith, President, First National Bank, West Point, Georgia John T. Oliver, Jr., President, First National Bank, Jasper, Alabama Sam 1. Yarnell, Chairman, Americap National Bank & Trust Company, Chattanooga, Tennessee FEDERAL ADVISORY COUNCiL MEMBER Lawrence A. Merrkan President The Bank of New Orleans an New Orleans, Louisiana Birmingham Branch DIRECTORS Frank P. Samford, Jr., (Chairman), Chpirman, Liberty National Life Insurance Company, Birmingham, Alabama JohnAlexander, Jr., President, City National Bank of Birmingham, Birmingham, Alabama Harold B. Blach, Jr., President, J. Blach & Sons, Inc., Birmingham, Alabama John Maples, Jr., Executive Vice President, Union Bank & Trust Company, Montgomery, Alabama David Mathews, President, University of Alabama, University, Alabama, Clarence L. Turnipseed, President, First National Bank, Brewton, Alabama D. C. Wadsworth, Jr., President, American National Bank of Gadsden, Gadsden, Alabama Jacksonville Branch DIRECTORS James E. Lyons, (Chairman), President, Lyons Industrial Corporation, Winter Haven, Florida Egbert 8. Beall, President, Beall‘s Department Stores, Bradenton, Florida Richard A. Cooper, Chairman, First National Bank of New Port Richey, New Port Richey, Florida William K. deVeer, President, First National Bank, Palm Beach, Florida Michael J. Franco, Chairman, City National Bank of Miami, Miami, Florida Chauncey W. lever, President and Chief Executive Officer, Florida First National Bank, Jacksonville, Florida Gert H. W. Schmidt, President, Television 12 of Jacksonville, Jacksonville, Florida Nashville Branch DIRECTORS John C. Tune, (Chairman), Partner, Butler, Tune, and Entrekin, Nashville, Tennessee Robert E, Curry, President, First National Bank, Pulaski, Tennessee T. Scott Fillebrown, Jr., President, First American National Bank, Nashville, Tennessee W. M. Johnson, President, First National Bank, Sparta, Tennessee Fred R. lawson, President, Blount National Bank, Maryville, Tennessee James R. lawson, President, Fisk University, Nashville, Tennessee James W. Long, Farmer, Springfield, Tennessee New Orleans Iranch DIRECTORS Floyd W. lewis, (Chairman), President and Chief Executive Officer, Middle South Services, Inc., New Orleans, Louisiana Fred Adams, Jr., President, Cal-Maine Foods, Inc., Jackson, Mississippi Edwin J. Caplan, President, Caplan’s Men’s Shops, Inc., Alexandria, Louisiana James H. Jones, Chairman and Chief Executive Officer, First National Bank of Commerce, New Orleans, Louisiana Ernest F. ladd, Jr., Chairman, Merchants National Bank, Mobile, Alabama R. B. Lampton, President, First National Bank, Jackson, Mississippi Charles W. McCoy, Chairman of the Board and President, Louisiana National Bank of Baton Rouge, Baton Rouge, Louisiana OFRCEUS as of January 1,1975 Monrae Kimbrel, President Uyle K. Fossum, First Vice Pr&ideat Arthur H. Kantner, Senior Vice President - Robert P. Forrestal, Senior Vice President and General Counsel B. H, Hargett, Senior Vice President Brown R. Rawlings, or Vice President Harry C.Schiering, 'iarry Brandt, Vice President and Direct0.r of Research N. Ronnie Caldwell,,Vice President Frank Craven, Vice President Charles D. East, Vice President Delmar Harrison, Vice President Robert E. Heck, Vice President William G.'Pfaff, Vice President Pierre M. Viguerie, Vice President Martha Bethea, Assistant Vice President Byron L. Bohann~n,Assistant General A JohnBranscomb, ,AssistantVice President George Budd,'Assistant Vice President Dayid A. Callison, Assistant Vice Preside n T. Cteckley, Assistant Vice President tiam N. Cox, 111, Assistant Vice President Richard A. Dill, Assis Wilbur W. iawrence, Assistant Vice President John E. Leimone, Assistant Vice Presiden Ely4. Matteri, Assistant Vice President George W. Moseley, Assistant Vice Presi Ronald Robinson, Assistant Vice President Clifford M, Saxon, Assistant Vice President Sexton, Assistant Vice President Si'card,AssiStant Vice President Asslqtant Vice President ade, Ilt, Assistant Vice President John M. Wallace, Assistant Vice President . Hifaam f. Hanea, Vi Fred Moer, Assistant Vice President William A. Waller, Jr., Assistant Vice President john D.Swanson, Assistant Yice Pre Robert 6.Dole, Assistant Vice President JACKSONVILLE BRANCH Vestus L. Crow, Vi Richard L. Berry, Assis Robert E. Lee, Assistant Vi Patrick K. Barron, Assis W. Ralph Thurman, Assi William W. Dykes, Assi R. M. Junca, Assis H. H. Bourgaux, Assis * ssistant Vice President STATEMENT OF P . t ASSFTS EAR . .... Net Expenses ............ Current Net Earnings ....... Total Current Earnings 1W3 1974 $273,336,666 $344,032,931 -0- -0- Additions ta Current Net Earnings: Profit on Sales of U. S. Government Securities (Net) ................ All O€her ......... Total Additions .................. 69,463 159,633 69,463 159,633 3,319,157 1,872,241 62,lOt 2,921,343 -5,121,935 -5,023,810 $224,049,693 $288,129,182 deductions from Current Net Earnings: Loss on Foreign Exchange Transactions (Net) .. ................................ Total Deductions ............. Net Additions (+) Deductions (-1 ........ Net Earnings Before Payment to U. S. Treasury ..... All Other DISTRIBUTION OF N€T EARNINGS Dividends Paid ................................ Payments to U. S.Treasury (Interest on F. R. Notes) $ .. Transferred to Surplus Account Net Additions (+) Deductions (4 ........... Total Earnings Distributed ........... . 3,565,229 $ 3,968,021 213,799,618 +6,684,850 $224,049,697 $280,129,182 SURPLUS ACCOUNTS ......................... Transferred to Surplus -As Above .............. Surdus December 31 ............. .... Surplus January 1 , $ 55,319,550 $ 62,004,400 6,684,850 $ 62,004,400 6,486,450 $ 68,490,850 STATEMENT OF OPERATIONS Dollars f973 ... 14.1 Loans to Member Banks Currency and coinreceipts ............... Items 1974 1973 billion 14.9 billion 6.2 billion 6.6 billion NIA 5.8 billion NIA 6.3 billion 608.9 million Currency and coinpayments 1974 2,50O1 3,239l NIA .............. 5.3 billion Currency processed ....... 5.8 billion Coin processed2 ......... .223.1 million . . 234.3 million 2.0 billion Check clearing operations’. .450.6 billion 528.3 billion 1.3 billion ....... 365 million Wire transfers of funds ..... 1.3 trillion Wire transfer of securities . . 24.2 billion 438 million 586 thousand 1.7 trillion 1.1 million Noncash collections 29.3 billion 613.3 mill 62 thousand U.S. Savings Bonds issued, exchanged, redeemed ... 1.6 billion 1.6 billion Other Government securities issued, exchanged, redeemed ... 42.0 billion 60.8 billion 438 thousand 502 thousand ....... 4.7 billion 7.7 billion 64 thousand 93 thousand .... Member banks at year end .. 2.4 billion 2.9 billion 23 thousand 36 thousand Securities held in safekeeping in book-entry form in conventional form Nonmember banks at year end ......... Nonpar banks’ at year ena F.R. Bank personnel at year end4 ......... .. 19.8 million I 1 NIA VIA 607 NIA NIA 1,I89 1716 NIA NIA 45 41 NIA NIA 2,566 ’- 646 ~~852 ‘Number of advances. In 1973,150banks were accommodated, compared to 188 in 1974. Zltem count reflects drop in volume of cents processed as a result of hoarding in 1974. Includes commercial bank checks, U.S. Government checks, and Postal Money Orders. eflects staffing requirements related to expansion of Regional -Check Processing Centers.