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FEDERAL RESERVEBANK OF ATLANTA FIFTIETH ANNUAL STATEMENT January 29, 1965 To All Member Banks in the Sixth Federal Reserve District : Presented herein is a comparative statement of condition of the Federal Reserve Bank of Atlanta as at close of business December 31,1964, and December 31, 1963, together with a comparative statement of earnings and expenses for the years 1964 and 1963. MALCOLMBRYAN, President STATEMENT OF CONDITION ASSETS GOLDCERTIFICATES . . . . . . . . . . . . . . . . . REDEMPTION FUNDFOR FEDERAL RESERVENOTES . . . . FEDERAL RESERVENOTESO F OTHER BANKS . . . . . . . OTHERCASH . . . . . . . . . . . . . . . . . . . . TOTAL CASH . . . . . . . . . . . . . . . . . . DISCOUNTS AND ADVANCES . . . . . . . . . . . . . . U . S. GOVERNMENT SECURITIES. . . . . . . . . . . . TOTALLOANSAND SECURITIES . . . . . . . . . . OTHERASSETS: CASHITEMS IN PROCESS OF COLLECTION. . . . . . BANKPREMISES (NET) . . . . . . . . . . . . . ALL OTHER . . . . . . . . . . . . . . . . . . TOTAL OTHERASSETS . . . . . . . . . . . . . TOTAL ASSETS . . . . . . . . . . . . . . LIABILITIES FEDERAL RESERVENOTES . . . . . . . . DEPOSITS : MEMBERBANKRESERVEACCOUNTS. . U. S. TREASURER-GENERAL ACCOUNT. FOREIGN. . . . . . . . . . . . . . OTHER . . . . . . . . . . . . . . . TOTALDEPOSITS . . . . . . . . . OTHERLIABILITIES: DEFERRED AVAILABILITY CASH ITEMS . ALL OTHER . . . . . . . . . . . . TOTALOTHERLIABILITIES . . . . . TOTAL LIABILITIES . . . . . December 31.1964 December 31.1963 $ 733.006. 880 $ 729.636. 6 3 3 86.947. 155 40.939. 000 25.47.968 $ 882.970.756 $ 05.430. 0 0 1.956.527. 000 $1.961.957.000 . . . 95.011. 455 62.750. 000 13.412. 901 $ 904.181. 236 $ 20.342. 000 2.082.426. 000 12.102.768.000 . $ 714.422. 300 . . . . 18.346. 815 31.387. 163 $ 764.156.278 $3.771.105. 514 $ 548.739. 5 1 0 16.575.197 22.899. 472 $ 588.214.179 $3.433.141. 935 . . . . . . . $2.084.906.977 $1.929.183.410 . . . . . . . $ 993.100.402 . . . . . . . 48.126. 044 12.320. 000 6.216. 938 $1.059.763. 384 $ 916.247. 4 9 8 63.197. 724 8.800.000 5.513.553 $ 993.758. 7 7 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 527.646.829 . . . . . . . $ 564.943. 353 . . . . . . . $3.709.613. 714 37.296. 524 $ 421.928. 2 8 8 4.831.862 $ 426.760. 1 5 0 $3.349.702. 335 CAPITAL ACCOUNTS CAPITAL PAID IN . . . . . . . . . SURPLUS. . . . . . . . . . . . . TOTAL CAPITALACCOUNTS. . . TOTAL LIABILITIES AND CAPITAL ACCOUNTS . . . . . . . . . . . . . . . . . . . . $ . . . . . . . . . . $ . . . . . . . . . . $3.771.105. 514 30.745. 900 30.745. 900 61.491. 800 $ $ 27.813. 200 55.626. 400 83.439. 600 $3.433.141. 935 EARNINGS AND EXPENSES TOTALCURRENTEARNINGS . . . . . . . . . . . . . . . NET EXPENSES. . . . . . . . . . . . . . . . . . . . CURRENTNET EARNINGS. . . . . . . . . . . . . . $ 4b 19a 74,146,196 14,431,237 59,714,959 $ 8 1963 63,505,003 12,605,038 50,899,965 ADDITIONSTO CURRENT NET EARNINGS: PROFIT ON SALESOF U. S. GOVERNMENT SECURITIES (NET) . . . . . . . . . . . . . . . ALL OTHER . . . . . . . . . . . . . . . . . . . TOTALADDITIONS . . . . . . . . . . . . . . . . DEDUCTIONS FROM CURRENT NET EARNINGS. . . . . . . . NET ADDITIONS (+) DEDUCTIONS(-) . . . . . . . . NET EARNINGS BEFOREPAYMENT TO U. S. TREASURY . . . . PAYMENTS TO U. S. TREASURY (INTEREST ON F. R. ROTES) . DIVIDENDS PAID . . . . . . . . . . . . . . . . . . . TRANSFERRED TO SURPLUS ACCOUNT NET ADDITIONS (+)DEDUCTIONS (-) . . . . . . . . $ $ $ $ $ $ $ $ $ $ 16,693 19,027 35,720 1.686 34,034 50,933,999 44,938,810 1,613,389 + + 4,381,800 - 24,880,500 59,701,889 $ 50.933.999 55,626,400 - 24,880,500 Ib 30.745.900 $ 51,244,600 4.381.800 55,626,400 $ SURPLUS ACCOUNT SURPLUS JANUARY 1 . . . . . . . . . . . . . . . . . TRANSFERRED TO SURPLUS-AS ABOVE . . . . . . . . . . SURPLUS DECEMBER 31 . . . . . . . . . . . . . . . . 33,498 9,070 42,568 55.638 - 13,070 59,701,889 82,807,715 1,774,674 $ $ Federal Reserve Bank of Atlanta DIRECTORS CLASS A Elected by Member Banks . . 1965 . . 1966 Gadsden, Gadsden, Alabama . . . . . 1967 M. M. KIMBREL, Chairman, The First National Bank, Thomson, Georgia GEORGES. CRAFT,Chairman, Trust Company of Georgia, Atlanta, Georgia D. C. WADSWORTH, SR., President, The American National Bank of Term Expires December 31 . . . .. . . . . . . . . . , .. .. . . . . . . . CLASS B Elected by Member Banks . . . . . . . . . . . . 1965 W. MAXEYJARMAN, Chairman, Genesco, Inc., Nashville, Tennessee . . . . . . . . . . . . . . . . . . 1966 JAMES H. CROW,JR., Vice President, The Chemstrand Corporation, Decatur, Alabama . . . . . . . . . 1967 MCGREGOR SMITH,Chairman, Florida Power & Light Company, Miami, Florida CLASS C Appointed by the Board of Governors of the Federal Reserve System J. M. CHEATHAM, (Deputy Chairman), President, Dundee Mills, Inc., Griffin, Georgia . . . . . . . . . 1965 JOHNA. HUNTER,President, h u i s i a n a State University, Baton Rouge, Louisiana . . . . . . . . . . 1966 JACKTARVER,(Chairman), President, Atlanta Newspapers, Inc., Atlanta, Georgia . . . . . . . . . . . . 1967 OFFICERS MALCOLM BRYAN,President; HAROLD T. PATTERSON, First Vice President and General Counsel; J. EMORY MCCORVEY, Vice President and Cashier; R. DEWITTADAMS,General Auditor; HARRYBRANDT, Vice PresidentB. RAISTY,Vice President; BROWN R. RAWLINGS, Vice President; RICHARD A. SANDERS, Associate Research; LLOYD General Auditor; ROBERTM. STEPHENSON, Vice President; CHARLES T. TAYLOR, Vice President and Director of Research. C. MASONFORD, Assistant Vice President; JOHN T. HARRIS,Assistant Vice President; GEORGEHIBBERT, Assistant Counsel; BEYRLE. HOWARD,Assistant Vice President; F. HERBERT MARTIN,Assistant Vice President; GEORGE W . SHEFFER, JR., Chief Examiner and Assistant Vice President; EDGARM. VALLETTE, Assistant Vice President. N. CARSONBRANAN, Assistant Cashier; FRED I. BRECK,Assistant Cashier; W. M. DAVIS, Assistant Cashier; J. B. FORBES, Assistant Cashier; J. LYLE HARDIN,Assistant Chief Examiner; ERIC HINGST,Assistant Cashier; DUANEHOOVER,Assistant Cashier; ARTHURH. KANTNER, Assistant Cashier; BASIL A. WAPENSKY, Assistant J. WELLS,Assistant Cashier. Cashier; JEFFREY MEMBER FEDERAL ADVISORY COUNCIL SAMM. FLEMING, President Third National Bank Nashville, Tennessee Birmingham Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System EUGENE C. GWALTNEY, JR., Vice President and General Superintendent, Russell Mills, Inc., Alexander City, Alabama . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . MAYSE. MONTGOMERY, General Manager, Dixie Home Feeds Company, Athens, Alabama. Term Expires December 31 ..... 1965 . . . . . . . 1966 . . . 1967 C. CALDWELL MARKS,(Chairman), Chairman, Owen-Richards Company, Inc., Birmingham, Alabama Appointed by the Board of Directors, Federal Reserve Bank of Atlanta A. CALVINSMITH,President, First National Bank, Greenville, Alabama JOHN . . . . . . . . . . . . . . . .1965 A. HAND,President, The First National Bank of Birmingham, Birmingham, Alabama . . . . . . . 1966 REX J. MORTHLAND, President, Peoples Bank and Trust Company, Selma, Alabama. C. WILLARD NELSON,President, State National Bank of Alabama, Decatur, Alabama . . . . . . . . . . 1967 . . . . . . . . . . 1967 OFFICERS E. C. RAINEY,Vice President and Manager; WM. A. WALLER,JR., Assistant Vice President and Cashier; MARVINW. STEWART, Assistant Cashier; WILLIAMH. THOMAS,Assistant Cashier. Jacksonville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 . 1965 . . . . . . . . . . . . . . . . . . 1966 CLAUDE J. YATES,(Chairman), Chairman of the Board, Florida Atlas Corporation, Jacksonville, Florida. J. OLLIEEDMUNDS, President, Stetson University, DeLand, Florida HARRYT. VAUGHN, President, United States Sugar Corporation, Clewiston, Florida . . . . . . . . . . .1967 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta ARTHURW. SAARINEN, President, Broward National Bank, Fort Lauderdale, Florida . . . . . . . . . 1965 . . . . . . . . 1966 WILLIAMH. DIAL, President, The First National Bank at Orlando, Orlando, Florida. WILLIAMR. BARNETT, Chairman of the Board, The Barnett National Bank of Jacksonville, Jacksonville, Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DUDLEYCOLE,President, Florida First National Bank at Ocala, Ocala, Florida ..... 1967 . . . . . . . . . . . . 1967 OFFICERS T. A. LANFORD, Vice President and Manager; DOWDELL BROWN,JR., Assistant Vice President; T. C. CLARK, Assistant Vice President; VESTUSL. CROW,Cashier; B. H. HARGETT, Assistant Cashier. Nashville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 . . . . . . . . 1965 . . . . . . . . . .1966 ANDREW D. HOLT,(Chairman), President, University of Tennessee, Knoxville, Tennessee JAMES E. WARD,President, Baird-Ward Printing Company, Inc., Nashville, Tennessee ROBERT M. WILLIAMS,President, ARO, Inc., Tullahoma, Tennessee . . . . . . . . . . . . . . . . . .1967 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta . . . . . . . . . . . . . . . 1965 WILLIAMF. EARTHMAN, JR., President, Commerce Union Bank, Nashville, Tennessee . . . . . . . . . . . 1966 SIDNEY N. BROWN,President, Union National Bank, Fayetteville, Tennessee . . . . . . . . . . . . . . . 1967 J. A. HILL, President, Hamilton National Bank, Morristown, Tennessee . . . . . . . . . . . . . . . .1967 R. S. WALLING,President, First National Bank, McMinnville, Tennessee. R. E. MOODY,JR., OFFICERS Vice President and Manager; W. H. SEWELL,Assistant Vice President; L. W. STARR, Cashier; STUART H. MAGEE,Assistant Cashier. New Orleans Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System J. 0. EMMERICH, Editor, McComb Enterprise-Journal, McComb, Mississippi . Term Expires December 31 . . . . . . . . . . . . . 1965 GEORGE BENJAMIN BLAIR,(Chairman), General Manager, American Rice Growers Cooperative Association, Lake Charles, Louisiana . . . . . . . . . . . . . . . . . . . . . . . . . . KENNETHR. GIDDENS, President, WKRG-TV, Inc., Mobile, Alabama. .... 1966 . . . . . . . . . . . . . . . . .1967 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta J. R. MCCRAVEY, JR., Vice President, Bank of Forest, Forest, Mississippi . . . . . . L. Y. FOOTE, President, First National Bank of Hattiesburg, Hattiesburg, Mississippi . ROBERTM. HEARIN,President, First National Bank of Jackson, Jackson, Mississippi . . . . . . . . .1965 . . . . . . . . . 1966 . . . . . . . . . . 1967 W. RICHARDWHITE,President, First National Bank of Jefferson Parish, Gretna, Louisiana . . . . . . . 1967 OFFICERS M. L. SHAW, Vice President and Manager; L. Y. CHAPMAN, Assistant Vice President and Assistant Manager; FREDMILLSAPS,Assistant Vice President; R. M. JUNCA, Assistant Cashier.