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FEDERAL RESERVEBANK OF ATLANTA FIFTY-FIFTH ANNUAL STATEMENT January 2, 1970 To All Member Banks in the Sixth Federal Reserve District: Presented herein is the comparative statement of condition of the Federal Reserve Bank of Atlanta as at close of business December 31,1969, and December 31, 1968, together with a comparative statement of earnings and expenses for the years 1969 and 1968. MONROE KIMBREL President STATEMENT OF CONDITION December 3 1. 1969 ASSETS December 3 1. 1968 . . . . . . . . . . . . . . $ 493.554. 055 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91.368. 911 14.911.623 $ 599.834. 589 39.125. 000 3.187.856. 000 $3.226.981. 000 $ 523.222. 2 4 3 -080.695. 958 27.166. 831 $ 631.085. 0 3 2 10.500. 000 2.936.565. 000 $2.947.065. 000 . . . . . . . . . . . . . . . $1.119.117. 513 17.651. 639 149.498.422 $1.286.267. 574 $5.113.083. 163 $ 906.832. 6 8 2 18.576. 104 155.784. 461 $1.08 1.193. 247 $4.659.343. 279 . . . . . . . . . $2.642.174. 039 $2.476.055. 016 Gold Certificates . . . . . . . . . . Redemption Fund for Federal Reserve Notes Federal Reserve Notes of Other Banks . . . Other Cash . . . . . . . . . . . . Total Cash . . . . . . . . . . Discounts and Advances . . . . . . . U . S Government Securities . . . . . . Totalbans andsecurities . . . . Other Assets: CashItemsinProcessofCollection . Bank Premises (Net) . . . . . . . All Other . . . . . . . . . . Total Other Assets . . . . . . TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . -0- LIAB1LIT1ES Federal Reserve Notes . . . . . . Deposits: Member Bank Reserve Accounts U.S. Treasurer-General Account . . . . . . . . . . . . Foreign Other . . . . . . . . . . Total Deposits . . . . . . . Other Liabilities: Deferred Availability Cash Items All Other . . . . . . . . Total Other Liabilities . . . TOTAL LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1.321.480. 530 96.073. 707 8. 320. 000 17.656. 268 $1.443.530. 505 $1.306.119. 746 572. 233 13.860. 000 12.324. 016 $1.332.875. 995 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 909.295. 211 $ 748.63 1.427 3 1.653. 808 $ 940.949. 019 $5.026.653. 563 21.456. 941 770.088.368 $4.579.019. 379 . . . . $ CAPITAL ACCOUNTS Capital Paid In . . . . . . . . Surplus . . . . . . . . . . . Total Capital Accounts . . . TOTAL LIABILITIES AND CAPITAL ACCOUNTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ . . . . . . . . . . $5.113.083. 163 $ 43.214. 800 43.214. 800 86.429. 600 $ $ 40.161. 950 40.161. 950 80.323. 900 $4.659.343. 279 EARNINGS AND EXPENSES 1969 Total Current Earnings . . Net Expenses . . . . . Current Net Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Additions to Current Net Earnings: Profit on Sales of U. S. Government Securities (Net) . . . . . . . . All Other . . . . . . . . . . . Total Additions . . . . . . . . . Deductions from Current Net Earnings . . . Net Additions (t) Deductions (-) . . . . . Net Earnings Before Payment to U. S. Treasury. . . . . . . . . . . . . . . . . . . . . . . . . Dividends Paid . Payments to U. S. Treasury (Interest on F. R. Notes) . Transferred to Surplus Account Net Additions (t) Deductions (-) . . . . . . . . . . . . . . . . . . . . . . . . 1968 $ 182,597,105 $ 149,260,254 21,104,011 19,606,660 $ 161,493,094 $ 129,653,594 . . . . . . . . $ . . . . . . . . . $ $ $ -0375,847 375,847 327.886 t 47,961 $ 161,541,055 43,606 535,484 $ 579,090 322,986 $ + 256,104 $ 129,909,698 $ 2,524,012 2,348,186 $ 155,964,193 $ 125,027,462 t 3.052.850 $ 161,541,055 $ t 2.534.050 $ 129,909,698 SURPLUS ACCOUNTS Surplus January 1 . . . . . Transferred to Surplus-As Above Surplus December 3 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ $ 40,161,950 3,052,850 43,214,800 $ $ 37,627,900 2,534,050 40,161,950 Federal Reserve Bank of Atlanta DIRECTORS CLASS A Elected by Member Banks Term Expires December 31 A. L. Ellis, Chairman, First National Bank in Tarpon Springs, Tarpon Springs, Florida. ....... 1970 John W. Gay, President, First National Bank, Scottsboro, Alabama ...................... 1971 William B. Mills, President, Florida National Bank of Jacksonville, Jacksonville, Florida. ...... 1972 CLASS 8 Elected by Member Banks Hoskins A. Shadow, President, Tennessee Valley Nursery, Inc., Winchester, Tennessee ....... 1970 Owen Cooper, President, Mississippi Chemical Corp.; President, Coastal Chemical Corp., Yazoo City, Mississippi ....... 1971 Philip J. Lee, Vice President, Tropicana Products, Inc., Tampa, Florida. ................... 1972 CLASS C Appointed by the Board of Governors of the Federal Reserve System John C. Wilson, (Deputy Chairman), President, Horne-Wilson, Inc., Atlanta, Georgia ......... 1970 Edwin I. Hatch, (Chairman),President, Georgia Power Company, Atlanta, Georgia .......... 1971 F. Evans Farwell, President, Milliken and Farwell, Inc., New Orleans, Louisiana ............ 1972 OFFICERS January 1, 1970 Monroe Kimbrel, President Kyle K. Fossum, First Vice President R. E. Moody, Jr., Senior Vice President; J. E. McCorvey, Senior Vice President; Brown R. Rawlings, Senior Vice President; Charles T. Taylor, Senior Vice President-Research. Harry Brandt, Vice President-Research; W. M. Davis, Vice President; Robert P. Forrestal, Vice President and General Counsel; George H. Gaffney, Vice President; B. H. Hargett, Vice President; Richard A. Sanders, Vice President; Harry C. Schiering, General Auditor; Robert M. Stephenson, Vice President. Francis J. Craven, Assistant Vice President; Wm. W. Dykes, Assistant Vice President; Charles D. East, Assistant Vice President; James B. Forbes, Assistant Vice President; C. Mason Ford, Assistant Vice President; J. Lyle Hardin, Assistant Chief Examiner; Delmar Harrison, Assistant Vice President; Robert E. Heck, Assistant Vice President; George Hibbert, Assistant General Counsel; Eric B. Hingst, Assistant Vice President; Hiram J. Honea, Assistant Vice President; B. E. Howard, Assistant Vice President; Kenneth J. Kearney, Assistant Vice President; Clifford M. Saxon, Assistant General Auditor; James L. Vining, Assistant Vice President. MEMBER FEDERAL ADVISORY COUNCIL George S. Craft Chairman of the Board Trust Company of Georgia Atlanta, Georgia Birmingham Branch Term Expires Appointed by the Board of Governors of the Federal Reserve System December 31 DIRECTORS C. Caldwell Marks, (Chairman),Chairman, Owen-Richards Company, Inc., Birmingham, Alabama1970 W. C. Bauer, President, South Central Bell Telephone Company, Birmingham, Alabama . . . . 1971 E.Stanley Robbins, President, National Floor Products Company, Inc., Florence, Alabama. . . 1972 .. Appointed by the Board of Directors, Federal Reserve Bank of Atlanta Arthur L. Johnson, President, Camden National Bank, Camden, Alabama .. . . . . . . .. . George A. LeMaistre, President, City National Bank of Tuscaloosa, Tuscaloosa, Alabama . . . . K.M. Varner, Jr., President, The First National Bank, Auburn, Alabama . . . . . . . . Harvey Terrell, Chairman, First National Bank of Birmingham, Birmingham, Alabama . . . . . . . . . .. . . . . .. . . . . . 1970 1970 1971 1972 OFFICERS January 1,1970 Dan L. Hendley, Vice President;Wm. A. Wder, Jr., Assistant Vice President;James D. Shi,Assistant Vice Besident; John D. Swanson, Assistant Vice President. Jacksonville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 Henry Crag, (Chaimzan), Vice President, The Coca Cola Company Foods Division, Orlando, Florida. . . . .. . . . . 1970 Castle W.Jordan, President, Associated Oil Industries, Inc., Coral Gables, Florida ... . . . . . . 1971 Henry King Stanford, President, University of Miami, Coral Gables, Florida. . . . .. . . . . . . . . . . . 1972 ... . . Appointed by the Board of Directors, Federal Reserve Bank of Atlanta Harry Hood Bassett, Chairman of the Board, First National Bank of Miami, Miami, Florida . . . J. Y.Humphress, Executive Vice Resident, Capital City First National Bank, Tallahassee, Florida Edward W. Lane, Jr., President, The Atlantic National Bank, Jacksonville, Florida . . . . . . . James G.Richardson, Chairman and President, The Commercial Bank & Trust Company, Ocala, Florida. . . . .. 1970 1970 1971 . .. . .. . . .... 1972 OFFICERS January 1,1970 E. C. Rainey, Senior Vice President; Vestus L. Crow, Assistant Vice President; Richard L. Berry, Assistant Vice President; S . J. Stacklin, Jr., Assistant Vice President; Cecil L. Williams, Assistant Vice president. Nashville Branch DIRECTORS T m Expires Appointed by the Board of Governors of the Federal Reserve System Decembm 31 Robert M. Williams, (Chairman),President, ARO, Inc., Tullahoma, Tennessee ...............1970 Edward J. Boling, Vice President for Development and Administration, University of Tennessee, Knoxville, Tennessee 1971 Roy J. Fisher, Manager, Tennessee Operations, Aluminum Company of America, Alcoa, Tennessee 1972 ....... ........... Appointed by the Board of Directors, Federal.Reserve Bank of Atlanta H. A. Crouch, Jr., Senior Vice President, Third National Bank in Nashville, Nashville, Tennessee W. H. Swain, President, First National Bank, Oneida, Tennessee ......................... Hugh M. Willson, President, Citizens National Bank, Athens, Tennessee. ................... Edward C. Huffman, Chairman and President, First National Bank, Shelbyville, Tennessee. .... 1970 1970 1971 1972 OFFICERS January 1,1970 Jeffrey J. Wells, Vice President; W. Ralph Thurman, Assistant Vice President; Robert E. Lee, Assistant Vice Resident; A. D. Sands, Assistant Vice President. New Orleans Branch Tenn Expires DIRECTORS Appointed by the Board of Governors of the Federal Reserve System December 31 Robert H. Radcliff, Jr., President, Southern Industries Corporation, Mobile, Alabama Frank G. Smith, Jr., (Chainnan),Vice President, Mississippi Power and Light Company, Jackson, Mississippi D. Ben Kleinpeter, Wholesale Managu, Kleinpeter Farms Dairy, Inc., Baton Rouge, Louisiana ........... 1970 ......... 1971 ...... 1972 Lucien J. Hebert, Jr., Executive Vice President, Lafourche National Bank, Thibodaux, Louisiana Morgan Whitney, Vice President, Whitney National Bank, New Orleans, Louisiana E. W.Haining, President, The First National Bank, Vicksburg, Mississippi H. P.HeideIberg, Jr., President, Pascagoula-Moss Point Bank,Pascagoda, Mississippi ........ 1970 I970 1971 1972 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta .......... ................ OFFICERS January 1,1970 Arthur H. Kantner, VicePresident; George C. Guynn, Assistant VicePresident;R. M. Junca, Assistant Vice President; P.M. Viguerie, Assistant VicePresident.
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