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1

FEDERAL RESERVE BANK
O ATLANTA
F

FEDERAL
RESERVE
BANK
OF ATLANTA

FIFTY-SECOND ANNUAL STATEMENT

January 3 , 1 9 6 7

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, 1966, and December
3 1 , 1965, together with a comparative statement of
earnings and expenses for the years 1966 and 1965.

HAROLD PATTERSON,
T.
President

,

k

STATEMENT OF CONDITION
ASSETS

December 3 1. 1966

.
GOLDCERTIFICATES . . . . . . . . . . . . .
REDEMPTION
FUND FEDERAL
FOR
RESERVE
NOTES .
FEDERAL
RESERVE
NOTESOF OTHER BANKS. . .
OTHERCASH. . . . . . . . . . . . . .
TOTAL
CASH . . . . . . . . . . . . . .
DISCOUNTS ADVANCES . . . . . . . . .
AND
.
U . S. GOVERNMENT
SECURITIES . . . . . . .
.
TOTAL
LOANS SECURITIES . . . . . . .
AND
OTHER
ASSETS:
.
IN
OF
CASHITEMS PROCESS COLLECTION .
BANK
PREMISES
(NET) . . . . . . . . . .

.
...
.

....
. . . .
....
....
....
....

.
. . . . .
. . . . .

.
.
ALL OTHER . . . . . . . . . . . . . . .
TOTAL
OTHERASSETS . . . . . . . . . .
TOTAL ASSETS . . . . . . . . . . .

.
.
.
.
.

.
.
.
.
.

.
.
.
.
.

December 31. 1965

$ 620.339.761

102.851.516
75.77 1.500
37.281. 504
$ 836.244.281
44.700. 000
2.470.066. 000
$2.5 14.766.000

$

$ 661.489. 0
9 3
98.860. 540
78.544.000
13.200. 897
$ 852.095. 7
3 6
$ 15.719. 0
0 0
2. 3 13.98 1.000
$2.329.700. 000

.
.
.
.
.

20.286.443
7 1.173.532
$ 962.616. 382
$4.3 13.626.663

$ 775.873. 3
9 0
20.329.218
54.898. 468
$ 851.101. 9
5 8
$4.032,896,956

...............

$2.326.865.049

$2.256.623.531

$1.186.760. 979
533.575
9.600. 000
9.940. 998

$1.084.442. 445
14.132. 387
8.850. 000
13.422.893

$1.206.835. 552

$1.120.847.725

. . . . . . . .

$ 696.867.710

$ 579.168.
2 6

........

12.914.752

. . . . . . . .
. . . . . . . .

$ 709.782.462
$4.243.483. 063

$ 871.156.407

.

LIABILITIES
FEDERAL
RESERVE
NOTES.

DEPOSITS:
.
MEMBER
BANK
RESERVE
ACCOUNTS .
U . S. TREASURER-GENERAL
ACCOUNT.

. . . . . . .
. . . . . . .
FOREIGN . . . . . . . . . . . . . . . . . . .
.
OTHER . . . . . . . . . . . . . . . . . . . . .
TOTAL
DEPOSITS . . . . . . . . . . . . . . . .

OTHER
LIABILITIES:
DEFERRED
AVAILABILITY ITEMS.
CASH
ALL OTHER . . . . . . . . . . .
TOTAL
OTHER
LIABILITIES . . . .
.
TOTAL LIABILITIES . . . . .

8

10.428. 132
$ 589.596. 0
4 0
$3.967.067. 656

CAPITAL ACCOUNTS
CAPITAL
PAIDIN . . . . . . .
SURPLUS . . . . . . . . . . .
.
TOTAL
CAPITAL
ACCOUNTS
.

. . . . . . . . . . . .
...........
. . . . . . . . . . . .

TOTAL LIABILITIES AND
CAPITAL ACCOUNTS .




..........

$

35.071. 800

$

3507 1.800
70.143.600

$4.313.626. 663

$

32.914.
6 5

$

32.914. 650
65.829. 0
3 0

0

$4,032,896.956

EARNINGS AND EXPENSES
1965

1966

TOTAL
CURRENT
EARNINGS . .
.
NET EXPENSES . . . . . . . .
.
.
CURRENT
NET EARNINGS .

. . . . . . . . . . . .
...........
. . . . . . . . . . . .

TO
NET EARNINGS:
ADDITIONS CURRENT
PROFIT SALES U. S. GOVERNMENT
ON
OF
(NET) . . . . . . . . . .
SECURITIES
ALL OTHER . . . . . . . . . . . . .

. . . .
. . . .
TOTAL
ADDITIONS . . . . . . . . . . . . . .
.
DEDUCTIONS
FROM CURRENT
NET EARNINGS . . . . .
.
(+
(NET ADDITIONS ) DEDUCTIONS ) . . . . . . . .
NET EARNINGS
BEFOREPAYMENT u. S . TREASURY.
TO
.
DIVIDENDS
PAID . . . . . . . . . . . . . . . . . . . .

.
.
.
.
.
.

TO
(INTEREST F. R. NOTES)
ON
PAYMENTS U. S. TREASURY

TRANSFERRED
TO SURPLUS
ACCOUNT
(
NET ADDITIONS ) DEDUCTIONS ( - )

.
.
.
.
.
.

$ 105,656,724

$

16,338,467
$

89,318,257

$

$

$

2,151,880
$

2,151,880
186,236

$

55,939
55,939
1,449

$

+ 1,965,644

$

+ 54,490

$

91,283,901

$

68,829,162
1,917,335

2,059,913

.

84,664,613
15,889,941
68,774,672

$

87,066,838

$

64,743,077

$

d- 2,157,150

$

+ 2,168,750

$

91,283,901

$

68,829,162

SURPLUS
JANUARY . . . . . . . . .
1
TRANSFERRED
TO SURPLUS-AS ABOVE .

$

32,914,650
2,157,150

$

SURPLUS
DECEMBER1
3

$

35,07 1,800

$

30,745,900
2,168,750
32.914.650

+

. . . . . . .

SURPLUS ACCOUNTS




. . . . . . . . .
..........
. . . . . . . . . . . . . . . .

Federal Reserve Bank of Atlanta
DIRECTORS
CLASS A
Elected by Member Banks

Term Expires
December 31
D. C. WADSWORTH, President, The American National Bank of Gadsden, Gadsden, Alabama . 1967
SR.,
JOHNW. GAY,President, First National Bank, Scottsboro, Alabama . . .
. . . . . . . . . 1968
WILLIAM MILLS,President, Florida National Bank of Jacksonville, Jacksonville, Florida .
B.
. . 1969

.

.
. .

.

CLASS B
Elected by Member Banks
JAMES CROW,
H.
JR., Vice President, The Chemstrand Corporation, Decatur, Alabama

. . . . . . . 1967
. . . . 1968
. . . . 1969

HARRY VAUGHN,
T.
President, United States Sugar Corporation, Clewiston, Florida . . . .
PHILIPJ. LEE,Vice President, Atlantic Coast Line Railroad Company, Jacksonville, Florida
CLASS C
Appointed by the Board of Governors of the Federal Reserve System

(Chairman), President, Atlanta Newspapers, Inc., Atlanta, Georgia .
JACKTARVER,

.

. . . . . . . 1967

EDWINI. HATCH,
(Deputy Chairman), President, Georgia Power Company, Atlanta, Georgia
JOHNA. HUNTER,
President, Louisiana State University, Baton Rouge, Louisiana

.

.

. . . . 1968

. . . . . . . 1969

OFFICERS
HAROLD PATTERSON,
T.
President; MONROE
KIMBREL,
First Vice President; J. E. MCCORVEY, President
Vice
and Cashier; CHARLES TAYLOR,
T.
Vice President and Director of Research: HARRY
BRANDT,
Vice PresidentResearch; JOHN HARRIS,
T.
Vice President; BROWN R. RAWLINGS, President; RICHARD SANDERS,
Vice
A.
Vice
President; R. M. STEPHENSON, President; R. DEWITTADAMS,
Vice
General Auditor.
DAVID BALDWIN,
K.
Assistant Vice President; N. CARSON
BRANAN, Assistant Vice President; W . M. DAVIS,
Assistant Vice President; C. MASON
FORD,Assistant Vice President; BILLY H. HARGETT,
Assistant Vice
Assistant Counsel; B. E. HOWARD,
Assistant Vice President; GEORGE .
W
President; GEORGEHIBBERT,
SHEFFER, Chief Examiner and Assistant Vice President; JAMES SMITH,
JR.,
R.
Assistant Counsel.
J. B. FORBES,
Assistant Cashier; J. LYLEHARDIN,
Assistant Chief Examiner; ERIC B. HINGST,Assistant
Cashier; KENNETH KEARNEY,
J.
Assistant Cashier; HARRY SCHIERING,
C.
Assistant General Auditor.




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

Term Expires
December 31

C. CALDWELL
MARKS,
(Chairman), Chairman, Owen-Richards Company, Inc., Birmingham, Alabama 1967
EUGENE GWALTNEY, Vice President and General Superintendent, Russell Mills, Inc., Alexander
C.
JR.,
City, Alabama . . . . . . . . . . . . 1968
MAYSE. MONTGOMERY,
General Manager, Dixie Home Feeds Company, Athens, Alabama

. . . 1969

Appointed by the Board of Directors, Federal Reserve Bank of Atlanta
President, Peoples Bank and Trust Company, Selma, Alabama . . . . . . . 1967
REX J. MORTHLAND,

. . . . . . . . . . . 1967
Headland, Alabama . . . 1968

C. WILLARD
NELSON,President, State National Bank, Decatur, Alabama
MAJORW. ESPY,SR., Chairman and President, Headland National Bank,

WILL T. COTHRAN,
President, Birmingham Trust National Bank, Birmingham, Alabama

. . . . . 1969

OFFICERS
E. C. RAINEY,Vice President and Manager; WM. A. WALLER, Assistant Vice President and Cashier;
JR.,
MARVIN STEWART,
W.
Assistant Cashier; WILLIAM THOMAS,
H.
Assistant Cashier.

Jacksonville Branch
DIRECTORS
Appointed by the Board of Governors of the Federal Reserve System
DOUGLAS PUTT, (Chairman), President, National City Lines, Inc., Tampa, Florida . . . . . . 1967
M.

. . . . . . . . . . . . . . . 1968
HENRY
KING STANFORD,
President, University of Miami, Coral Gables, Florida . . . . . . . . 1969
CASTLE JORDAN,
W.
President, Ryder System, Inc., Miami, Florida

Appointed by the Board of Directors, Federal Reserve Bank of Atlanta
WILLIAM R. BARNETT, Chairman of the Board, The Barnett National Bank of Jacksonville,
Jacksonville, Florida . . . . . . . . . .
DUDLEY
COLE,President, Florida First National Bank at Ocala, Ocala, Florida

. 1967
. . . . . . . . . 1967

ANDREW IRELAND,
P.
Chairman and President, American National Bank, Winter Haven, Florida

.

. 1968

L. V. CHAPPELL,
President, First National Bank of Clearwater, Clearwater, Florida . . . . . . . . 1969
OFFICERS

T. A. LANFORD,
Vice President and Manager; T. C. CLARK,
Assistant Vice President; VESTUSL. CROW,
Assistant Vice President and Cashier, S. J. STACKLIN,
Assistant Cashier.




Nashville Branch
DIRECTORS
Appointed by the Board of Governors of the Federal Reserve System

Term Expires
December 31

. . . . . . . . 1967
ALEXANDER
HEARD,
Chancellor, Vanderbilt University, Nashville, Tennessee . . . . . . . . . . 1968
JAMES WARD,
E.
President, Baird-Ward Printing Company, Inc., Nashville, Tennessee . . . . . . 1969
ROBERT WILLIAMS,
M.
(Clrairman), President, ARO, Inc., Tullahoma, Tennessee

~

I

I

I

I

Appointed by the Board of Directors, Federal Reserve Bank of Atlanta
SIDNEY BROWN,President, Union National Bank, Fayetteville, Tennessee .
N.
.

. . . . . . . 1967
J. A. HILL, President, Hamilton National Bank, Morristown, Tennessee . . . . . . . . . . . . 1967
MOSESE. DORTON,
Chairman and President, First National Bank, Crossville, Tennessee . . . . . 1968
ANDREW
BENEDICT, President, First American National Bank, Nashville, Tennessee . . . . . . . . 1969
OFFICERS
Assistant Vice President, J. J. WELLS,
R. E. MOODY,
JR., Vice President arid Matlager; W. H. SEWELL,
Assistant Vice President, STUART MAGEE,
H.
AssisfarifCashier.

New Orleans Branch
DIRECTORS
Appointed by the Board of Governors of the Federal Reserve System
KENNETH GIDDENS, President, WKRG-TV, Inc., Mobile, Alabama . .
R.
. .

Term Expires
December 31

. . . . , . . . . 1967

FRANK . SMITH, JR., (Chairman), Vice President, Mississippi Power and Light Company, Jackson,
G
. 1968
Mississippi . . . . . . . . . . .

..

GEORGE
BENJAMIN
BLAIR,General Manager, American Rice Growers Cooperative Association,
Lake Charles, Louisiana

. . . . . . . . 1969

Appointed by the Board of Directors, Federal Reserve Bank of Atlanta

. . . . . , . 1967
W. RICHARD WHITE, President, First National Bank of Jefferson Parish, Gretna, Louisiana . . . . . 1967
DONALD DELCAMBRE,
L.
President, State National Bank, New Iberia, Louisiana . . . . . . . . . 1968
A. L. GOTTSCHE,
President, First National Bank, Biloxi, Mississippi . . . . . . . . . . . . . . 1969
ROBERT HEARIN,
M.
President, First National Bank of Jackson, Jackson, Mississippi

OFFICERS

M. L. SHAW,
Vice President arid Manager; L. Y . CHAPMAN,
Assistant Vice President a i Assistant Manager;
rd
A. H. KANTNER,
Assistant Vice Pri>sident;R. M. JUNCA,
Assistant Cashier.