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FEDERAL RESERVEBANK OF ATLANTA FIFTY-THIRD ANNUAL STATEMENT January 2,1968 To All Member Banks in the Sixth Fedesal Reserve District: Presented herein is the comparative statement of condition of the Federal Reserve Bank of Atlanta as at close of business December 31, 1967, and December 31, 1966, together with a comparative statement of easnings and expenses for the years 1967 and 1966. HAROLDT. PATTERSON, President STATEMENT OF CONDITION ASSETS December 31. 1967 . . . . . . . . . . . . . . . . . . GOLDCERTIFICATES REDEMPTION FUND FOR FEDERAL RESERVE NOTES . . . . . FEDERAL RESERVE NOTESOF OTHER BANKS. . . . . . . . OTHERCASH . . . . . . . . . . . . . . . . . . . . . TOTALCASH . . . . . . . . . . . . . . . . . . . DISCOUNTS AND ADVANCES . . . . . . . . . . . . . . . . . . . . . . . . . . . . U . S . GOVERNMENT SECURITIES TOTALLOANS AND SECURITIES . . . . . . . . . . . . OTHERASSETS: CASHITEMS IN PROCESS OF COLLECTION . . . . . . . BANKPREMISES (NET) . . . . . . . . . . . . . . . ALL OTHER . . . . . . . . . . . . . . . . . . . TOTALOTHERASSETS . . . . . . . . . . . . . . TOTAL ASSETS . . . . . . . . . . . . . . . December 31. 1966 $ 552.397. 188 $ 620.339. 761 107.008. 746 64.229. 500 42.156. 513 $ 765. 79 1.947 -0- 102.851.516 75.77 1.500 37.28 1.504 $ 836.244. 281 $ 44.700. 000 2.470.066. 000 $2.514.766. 000 2.724.820. 000 $2.724.820. 000 $ 912.639. 600 19.8 17.661 116.505. 354 $1.048.962. 615 $4.539.574. 562 $ 871.156. 4 0 7 20.286. 443 7 1.173. 5 3 2 $ 962.616. 3 8 2 $4.3 13.626. 6 6 3 LlABlLlTlES FEDERAL RESERVE NOTES. . . . . . . . . . . . . . . . $2.431.583. 258 DEPOSITS: MEMBER BANKRESERVE ACCOUNTS. . . . . . . . . $1.164.937. 446 82.645. 244 U . S . TREASURER-GENERAL ACCOUNT. . . . . . . . 8.680. 000 FOREIGN . . . . . . . . . . . . . . . . . . . . . 11.440. 305 OTHER . . . . . . . . . . . . . . . . . . . . . TOTALDEPOSITS . . . . . . . . . . . . . . . . $1.267.702. 995 OTHERLIABILITIES: DEFERRED AVAILABILITY CASHITEMS . . . . . . . . . $ 749.343.392 15.689. 117 ALL OTHER . . . . . . . . . . . . . . . . . . . TOTAL OTHERLIABILITIES . . . . . . . . . . . . . $ 765.032. 509 TOTAL LIABILITIES . . . . . . . . . . . . $4.464. 318.762 $2.326.865. 049 $1.186.760. 979 533.575 9.600. 000 9.940. 998 $1.206.835. 552 $ 696.867. 7 1 0 12.9 14.752 $ 709.782. 4 6 2 $4.243.483. 063 CAPITAL ACCOUNTS CAPITAL PAIDIN . . . . . . . . . SURPLUS. . . . . . . . . . . . . . TOTALCAPITAL ACCOUNTS. . . TOTAL LIABILITIES AND CAPITAL ACCOUNTS . . . . . . . . . . . . . . . . . . . . $ . . . . . . . . . . $ . . . . . . . . . . $4.539.574. 562 37.627. 900 37.627. 900 75.255. 800 $ $ 35.071. 800 35.071. 800 70.143. 600 $4.313.626. 663 EARNINGS AND EXPENSES 1967 EARNINGS. . TOTALCURRENT . . . . . . . NET EXPENSES . CURRENT NET EARNINGS . . . . . . . . . . . . . . . . . . . . . . . . . . ............. ADDITIONS TO CURRENT NET EARNINGS: PROFITON SALESOF U . S. GOVERNMENT SECURITIES (NET) . . . . . . . . . . . . ALL OTHER . . . . . . . . . . . . . . . TOTAL ADDITIONS. . . . . . . . . . . . . DEDUCTIONS FROM CURRENT NET EARNINGS. . . . ( ) DEDUCTIONS (. ) . . . . . . NET ADDITIONS NET EARNINGS BEFOREPAYMENT TO u. s TREASURY . . . . . . . . . . . . . . . . + . . . . . . . . . DIVIDENDSPAID .................... PAYMENTS TO U . S. TREASURY (INTEREST ON F. R . NOTES). . TRANSFERRED TO SURPLUS ACCOUNT ( ) DEDUCTIONS ( -) NET ADDITIONS + ....... 1966 $ 120.664.397 $ 105.656. 724 17.360. 651 $ 103.303.746 16.338.467 89.318. 257 42. 770 90. 809 $ 133.579 116.730 $ 16.849 $ 103.320. 595 $ $ $ $ 2.151. 880 2.151. 880 186.236 1.965.644 91.283. 901 2.195. 732 98.568.763 $ 2.059. 913 87.066.838 2.556. 100 $ $ 103.320. 595 $ 91.283. 901 35.071. 800 2.556. 100 37.627. 900 $ 32.914. 650 2.157. 150 35.071.800 + $ $ + $ $ + + 2.157. 150 SURPLUS ACCOUNTS SURPLUS JANUARY 1 . . . . . . . . . TRANSPERRED TO SURPLUS-AS ABOVE . SURPLUS DECEMBER 31 . . . . . . . . . . . . . . . . . . . . . . . . . ......... $ $ $ Federal Reserve Bank of Atlanta DIRECTORS CLASS A Elected by Member Banks Term Expires December 31 .. . . . . . 1968 . . . . 1969 . . . . 1970 JOHNW. GAY,President, First National Bank, Scottsboro, Alabama . . . . . . . WILLIAMB. MILLS,President, Florida National Bank of Jacksonville, Jacksonville, Florida A. L. ELLIS,Chairman, First National Bank in Tarpon Springs, Tarpon Springs, Florida . CLASS B Elected by Member Banks . . . . . . 1968 . . . . . . . 1969 . . . . . . 1970 HARRYT. VAUGHN,President, United States Sugar Corporation, Clewiston, Florida . PHILIP J. LEE, Vice President, Seaboard Coast Line Railroad, Jacksonville, Florida HOSKINSA. SHADOW, President, Tennessee Valley Nursery, Inc., Winchester, Tennessee CLASS C Appointed by the Board of Governors of the Federal Reserve System EDWIN I. HATCH, (Chairman), President, Georgia Power Company, Atlanta, Georgia JOHNA. HUNTER, President, Louisiana State University, Baton Rouge, Louisiana . . . JOHN C. WILSON,(Deputy Chairman), President, Horne-Wilson, Inc., Atlanta, Georgia . . . . . . 1968 . . . . . . 1969 . . . . . . 1970 OFFICERS HAROLDT. PATTERSON,President; MONROEKIMBREL,First Vice President; J . E. MCCORVEY, Vice President T. TAYLOR, Vice President and Director of Research; HARRY BRANDT,Vice Presiand Cashier; CHARLES dent-Research; JOHNT. HARRIS,Vice President; BROWNR. RAWLINGS,Vice President; RICHARD A. SANDERS, Vice President; R. M. STEPHENSON, Vice President; H. C. SCHIERING, General Auditor. DAVIDK. BALDWIN,Assistant Vice President; N. CARSONBRANAN, Assistant Vice President: W. M. DAVIS, Assistant Vice President; C. MASONFORD, Assistant Vice President; BILLYH. HARGETT, Assistant Vice PresAsident; ROBERTE. HECK,Assistant Vice President; GEORGEHIBBERT,Assistant Counsel; B. E. HOWARD, sistant Vice President; JAMESR. SMITH,Counsel. J. B. FORBES, Assistant Cashier; J. LYLEHARDIN,Assistant Chief Examiner; ERICB. HINGST, Assistant Cashier; KENNETHJ. KEARNEY, Assistant Cashier; CHARLES D. EAST,Assistant General Auditor. MEMBER FEDERAL ADVISORY COUNCIL GEORGES. CIUpr Chairman of the Board Trust Company of Georgia Atlanta, Georgia Birmingham Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 EUGENE C. GWALTNEY, JR., Vice President and General Superintendent, Russell Mills, Inc., Alexander City, Alabama . . . . . . . . . . . . . 1968 MAYSE. MONTGOMERY, (Chairman), General Manager, Dixie Home Feeds Company, Athens, Alabama . . . . . . . . . . . 1969 . . . . . 1970 C. CALDWELL MARKS,Chairman, Owen-Richards Company, Inc., Birmingham, Alabama Appointed by the Board of Directors, Federal Reserve Bank of Atlanta MAJORW. ESPY,SR., Chairman and President, Headland National Bank, Headland, Alabama WILL T. COTHRAN,President, Birmingham Trust National Bank, Birmingham, Alabama . . . ARTHURL. JOHNSON,President, Camden National Bank, Camden, Alabama . . . . . . . GEORGEA. LEMAISTRE,President, City National Bank of Tuscaloosa, Tuscaloosa, Alabama . . . . . . . . . 1968 . 1969 . 1970 . 1970 OFFICERS E. C. RAINEY,Vice President and Manager; WM. A. WALLER,JR., Assistant Vice President and Cashier: WILLIAMH. THOMAS, Assistant Cashier. J ac ksonviI le Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System CASTLEW. JORDAN,(Chairman), President, Associated Oil and Gas Company, Coral Gak.:s, Florida 968 HENRYKINGSTANFORD, President, University of Miami, Coral Gables, Florida . . . . . . . . . 1969 HENRY CRAGG, Chairman of the Board, Minute Maid Company, Orlando, Florida . . . . . . . . 1970 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta ANDREW P. IRELAND, Chairman and President, American National Bank and Trust Company, Winter Haven, Florida . . . . . L. V. CHAPPELL, President, First National Bank of Clearwater, Clearwater, Florida . . . . . . . . 1968 . . . . 1969 HARRYHOODBASSETT,Chairman of the Board, First -National Bank of Miami, Miami, Florida . . 1970 J. Y.HUMPHRESS, Executive Vice President, Capital City First National Bank, Tallahassee, Florida . 1970 OFFICERS T. C. CLARK,Vice President and Manager, VESTUSL. CROW,Assistant Vice President and Cashier, GEORGE GAFFNEY,Assistant Cashier, S . J. STACKLIN, Assistant Cashier. I Nashville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System ALEXANDER HEARD,(Chairman), Chancellor, Vanderbilt University, Nashville, Tennessee . JAMESE. WARD,Chairman, Baird-Ward Printing Company, Inc., Nashville, Tennessee ROBERTM. WILLIAMS, President, ARO, Inc., Tullahoma, Tennessee . . . . . . . . . Term Expires December 31 . . . . . 1968 . . . . . . 1969 . . . . . 1970 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta MOSESE. DORTON,Chairman and President, First National Bank, Crossville, Tennessee ANDREWBENEDICT, President, First American National Bank, Nashville, Tennessee . . H. A. CROUCH, JR., President, First National Bank of Tullahoma, Tullahoma, Tennessee W. H. SWAIN,President, First National Bank, Oneida, Tennessee , . . . . . . . . . . . . . 1968 . . 1969 . . . . . 1970 . . . . . 1970 . ... . . OFFICERS R. E. MOODY,JR., Vice President and Manager; JEFFREYJ. WELLS, Assistant Vice President, STUARTH. MAGEE,Assistant Cashier, W. R. THURMAN, Assistant Cashier. New Orleans Branch 01RECTORS Term Expires Appointed by the Board of Governors of the Federal Reserve System December31 FRANK G. SMITH, JR., Vice President, Mississippi Power and Light Company, Jackson, Mississippi . 1968 GEORGEBENJAMINBLAIR,(Chairman), General Manager, American Rice Growers Cooperative, Lake Charles, Louisiana . . . . 1969 ROBERTH. RADCLIFF,JR., President, Southern Industries Corporation, Mobile, Alabama . . . . , 1970 ... . Appointed by the Board of Directors, Federal Reserve Bank of Atlanta DONALD L. DELCAMBRE, President, State National Bank, New Iberia, Louisiana . . . . . . . . A. L. GOTTSCHE, President, First National Bank, Biloxi, Mississippi . . . . . . . . . . . . . LUCIEN J. HEBERT,JR., Executive Vice President, Lafourche National Bank, Thibodaux, Louisiana MORGAN WHITNEY,Vice President, Whitney National Bank, New Orleans, Louisiana . . . . . . . 1968 . 1969 . 1970 . 1970 OFFICERS M. L. SHAW,Vice President and Manager; A. H. KANTNER, Assistant Vice President; R. M. JUNCA, Cashier.
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