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FEDERALRESERVEBANK OF ATLANTA FORTY-FOURTH ANNUAL STATEMENT January 1 6 , 1 9 5 9 To the Stockholders of the Federal Reserve Bank of Atlanta: There is presented herein a comparative statement of the condition of the Federal Reserve Bank of Atlanta as at close of business December 31, 1958, and December 31, 1957, together with a comparative statement of earnings and expenses for the years 1958 and 1957. Sincerely yours, MALCOLM BRYAN, President STATEMENT OF CONDITION -3 (In doUard IL ASSETS December 31,1958 .................. 864,741,644 GOLDCERTIFXATES REDEMPTION FUND FOR FEDERAL RESERVENOTES. . . . . 57,036,875 FEDERAL RESERVE NOTESOF OTHERBANKS. . . . . . . . 53,143,000 26,560,359 OTHERCASH. . . . . . . . . . . . . . . . . . . . . 1,001,481,878 TOTALCASH. . . . . . . . . . . . . . . . . . . AND ADVANCES. . . . . . . . . . . . . . . 5,570,500 DISCOUNTS U. S. GOVERNMENT SECURITIES . . . . . . . . . . . . . 1,335,756,000 TOTALLOANSAND SECURITIES . . . . . . . . . . . 1,341,326,500 OTHERASSETS: UNCOLLECTED CASHITEMS ............. 453,214,921 BANKPREMISES (NET) . . . . . . . . . . . . . . 9,293,742 8,470,290 ALL OTHER . . . . . . . . . . . . . . . . . . . TOTALOTHERASSETS. . . . . . . . . . . . . . 470,978,953 TOTAL ASSETS . . . . . . . . . . . . . . . 2,813,787,331 c 4 4 * * LIABILITIES FEDERAL RESERVENOTES . . . . . . ......... DEPOSITS : MEMBERBANKRESERVE ACCOUNTS. U. S. TREASURER~ENERAL ACCOUNT. li ........ , I 1 FOREIGN. ....... ................... ..................... TOTAL DEPOSITS. . . . . . . . . . . . . . . . OTHER I 4 ~ OTHERLIABILITIES: DEFERRED AVAILABILITY CASHITEMS. ALL OTHER . . . . . . . . . . . TOTALOTHERLIABILITIES . . . . ~ TOTAL LIABILITIES ~ 1 ' .A c ........ ........ ........ ............ CAPITAL ACCOUNTS CAPITALPAIDIN . . . . . . . . . . . . SURPLUS (SECTION7) . . . . . . . . . . SURPLUS(SECTION 13b) . . . . . . . . . RESERVE^ FOR CONTINGENCIES ...... TOTALCAPITALACCOUNTS. . . . . . TOTAL LIABILITIES AND CAPITAL ACCOUNTS . . . . ....... ....... ....... http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis c 466,237,738 6,4%,565 11,657,800 484,392,103 2,677,225,215 1,476,019,435 1,305,420,070 846,398,426 32,478,671 10,575,000 2,346,652 891,798,749 851,880,651 41,231,159 15,345,000 3,973,671 912,430,481 380,576,135 1,080,277 381,656,412 398,917,093 491,971 399,409,064 2,749,474,596 2,617,259,615 18,371,250 39,474,102 16,562,450 36,192,075 762,426 6,448,649 59,965,600 -01- ....... ....... 6,467,383 64,312,735 ....... 2,813,787,331 = 1Reflects elimination of 13b Surplus on September 2, 1958, pursuant to provisions b December 31,1957 830,920,971 48,919,465 56,404+,000 24743.676 960,988,112 3,275,000 1,228,570,000 1.231.845.000 2,677,225,215 C. EARNINGS AND EXPENSES (In dollars) .............. NET EXPENSES.. . . . . . . . . . . . . . . . . . . CURRENTNET EARNINGS. ............. TOTALCURRENTEARNINGS. ADDITIONSTO CURRENTNET EARNINGS: h o r n ON SALESOF U. S. GOVERNMENT SECURITIES (NET) ............... REIMBURSEMENT FOR FISCAL AGENCYEXPENSES INCURRED IN PRIOR YEARS. . . . . . . . . . . . Am OTHER . . . . . . . . . . . . . . . . . . . TOTALADDITIONS. . . . . . . . . . . . . . . . TOTALCURRENTNET EARNINGS AND ADDITIONS . . . . . . . . . ....... DEDUCTIONS FROM CURRENTNET EARNINGS: WERVES FOR CONTINGENCIES ........... RETIREMENT SYSTEM(ADJUSTMENTFOR REVISEDBENEFITS). . . . . . . . . . . . . . . ALL OTHER . . . . . . . . . . . . . . . . . . . TOTALDEDUCTIONS ............... NET EARNINGS BEFOREPAYMENTS TO U. S. TF~EASURER ............ PAID UNITED S T A T E TREASURY (INTEREST ON FEDERAL RESERVENOTES) . . . . . . . . . . . . NET EARNINGS AFTERPAYMENTS TO U. S. TREASURY . . DIVIDENDS. . . . . . . . . . . . . . . . . . . . . TRANSFERRED TO SURPLUS (SECTION 7) 9,274,911 28,898,585 8,480,980 31,323,826 8,448 8,972 -027,738 36,186 201,540 361 210,873 28,934,771 31,534,699 18,506 17,674 410,380 2,328 20,834 13,251 441,305 .. 28,913,937 31,093,394 .. 24,584,472 27,114,696 . . 4,329,465 3,978,698 1,052,929 965,959 ......... 3,012,739 ..... .......... 36,192,075 3,276,536 33,179,336 ........ ........ 5,491 -0- 39,474,102 36.192.075 TRANSFERRED FROM SECTION 13b SURPLUS SURPLUS DECEMBER 31 . . . . . . . . 1957 39,804,806 -0- 7) SURPLUS ACCOUNT (SECTION SURPLUS JANUAF~Y1 . . . . . . . . . . . . . TRANSFERRED TO sURPLUs--As ABOVE 1958 38,173,496 3,012,739 i Federal Reserve Bank of Atlanta DIRECTORS CLASS A Term Expires December 31 .1959 Elected by Member Banks ROLAND L. ADAMS,President, Bank of York, York, Alabama ..................... .1960 . .1961 W. C. BOWMAN, Chairman of the Board, The First National Bank of Montgomery, Montgomery, Alabama WILLIAMC. CARTER,Chairman and President, Gulf National Bank of Gulfport, Gulfport, Mississippi. CLASS B Elected by Member Banks MCGREGOR SMITH,Chairman and Director, Florida Power & Light Company, Miami, Florida . . . . . .1959 . . . . . . . . .1960 . . . . . . . . . . . . .1961 POLLARD TURMAN, President, J. M. Tull Metal & Supply Company, Inc., Atlanta, Georgia DONALD COMER,Chairman of the Board, Avondale Mills, Birmingham, Alabama CLASS c Appointed by the Board of Governors of the Federal Reserve System WALTER M. MITCHELL (Chairma of the Board and Federal Reserve Agent), Vice President, The Draper Corporation, Atlanta, Georgia ............................ 1961 . . . . . .1959 Louisiana . . .1960 HARLLEE BRANCH,JR. (Deputy Chairman), President, The Southern Company, Atlanta, Georgia H. G. CHALKLEY, JR., President, Sweet Lake Land & Oil Company, Inc., Lake Charles, OFFICERS MALCOLM BRYAN, President; LEWISM. CLARK,First Vice President; J. E. DENMARK, Vice President; JOHN L.LILES, JR., Vice President end Cashier; J. E. MCCORVEY, Vice President; HAROLDT. PATTERSON, Vice President and General Counsel; L. B. RAISTY, Vice President; EARLE L. RAUBER, Vice President and Director of Research; S. P. SCHUESSLER, Vice President; DEWITTADAMS,General Auditor; DOWDELL BROWN,JR., Assistant Vice President; F. H. MARTIN,Assistant Vice President; I. H. MARTIN,Assistant Vice President; BROWNR. RAWLINGS,JR., Assistant Vice President; CHARLES T. TAYLOR, Assistant Vice President; FRED I. BRECK,Assistant Cashier; C. MASON FORD,Assistant Cashier; THEODORE WALTER,Assistant Cashier; T. R. ATKINSON,Economic Adviser to the President; J. B. FORBES, Assistant General Auditor; GEO. W . SHEFFER,JR., Chief Examiner; EDGARM. VALLETTE,Director of Personnel. MEMBER FEDERAL ADVISORY COUNCIL A. SIBLEY Chairman of the Executive Committee Trust Company of Georgia Atlanta, Georgia JOHN INDUSTRIAL ADVISORY COMMITTEE SHANNON M. GAMBLE Executive Vice President Standard-Coosa-Thatcher Company Chattanooga, Tennessee DEANS. PADEN Chairman of the Board King Hardware Company Atlanta, Georgia LUTHERH. R ~ N D A L L President Randall Brothers, Inc. Atlanta, Georgia Birmingham Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 . . . . . . 1959 . . . . . . . . . . . . . . . . . . . . . . . . . 1960 . . . . . . . . . . . .1961 ADOLPHWEIL, SR. (Chairman), President, Weil Brothers-Cotton, Inc., Montgomery, Alabama SELDEN SHEFFIELD, Cattleman, Greensboro, Alabama JOHN E. URQURART, Chairman, Woodward Iron Company, Woodward, Alabama Appointed by the Board of Directors, Federal Reserve Bank of Atlanta R. J. MURPHY,Vice President, Citizens-Farmers & Merchants Bank, Brewton, Alabama. . JOHN C. PERSONS, Chairman, The First National Bank of Birmingham, Birmingham, Alabama . MARSHWDUGGER,Vice President and Cashier, First National Bank, Tuscumbia, Alabama. GEORGE W. HLILME,Senior Vice President, First National Bank, Alexander City, Alabama . . . . . . . . . 1959 . . . . . . 1960 . . . . . . 1961 . . . . . . 1961 OFFICERS Vice President and Manager; E. C. RAINEY,Assistant Vice President; WM.A. WALLER,JR., Cashier; H. C . FRAZER, MELVINMCILWAIN,Assistant Cashier. I/ l Jacksonville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 CLAUDEJ. YATES (Chairman), Vice President and General Manager, Southern Bell Telephone & Telegraph Company, Jacksonville, Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . 1959 J. WAYNEREITZ,President, University of Florida, Gainesville, Florida . . . . . . . . . . . . . . . . .1960 JOHN M. FOX,President, Minute Maid Corporation, Orlando, Florida . . . . . . . . . . . . . . . . 1961 ...E-' Appointed by the Board of Directors, Federal Reserve Bank of Atlanta JAMES . . . . . . . . . . .1959 . . . . . . . . . . . . . . . . . . . 1960 G. GARNER, President, Little River Bank and Trust Company, Miami, Florida C. B. MCLEOD,President, Bank of Crestview, Crestview, Florida. J. N. GREENING,Vice Chairman, The First National Bank of Bradenton, Bradenton, Florida . . . . ROGERL.MAIN,Chairman and President, Florida National Bank of Jacksonville, Jacksonville, Florida. . . 1961 . . 1961 OFFICERS T. A. LANFORD,Vice President and Manager; T. C. CLARK,Assistant Vice President; J. WYLY SNYDER, Cashier; VESTUSL. CROW,Assistant Cashier. Nashville Branch DIRECTORS Term Expires December 31 Appointed by the Board of Governors of the Federal Reserve System . V. S. JOHNSON, JR., (Chairman), Chairman and President, Aladdin Industries, Inc., Nashville, Tennessee 1961 FRANK B. WARD,Dean, College of Business Administration, University of Tennessee, Knoxville, Tennessee 1959 . W. N. KRAUTH,President and General Manager, Colonial Baking Company, Nashville, Tennessee . . . . . 1960 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta Jo H. ANDERSON, President, Park National Bank of Knoxville, Knoxville, Tennessee . . . . . . . . . .1959 P. D. HOUSTON,JR., President, First American National Bank of Nashville, Nashville, Tennessee 1960 W. E. NEWELL,President, The First National Bank, Kingsport, Tennessee . . . . . . . . . . . . . . .1961 CLARENCEA. WHELCHEL,President, First Farmers & Merchants National Bank, Columbia, Tennessee . . 1961 ..... OFFICERS R. E. MOODY,JR., 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 Term Expires December 31 FRANK A. GODCHAUX, 111, (Cheirman) ,Vice President, Louisiana State Rice Milling Company, Inc., Abbeville, Louisiana . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E. E. WILD, Rice Grower, Midland, Louisiana. . . . . . . . . . . . . . . . . . . . . . . . . . . . G. HAROLD KING,JR., President, King Lumber Industries, Canton, Mississippi . . . . . . . . . . . . 1960 1959 .1961 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta ...... J. SPENCER JONES, President, The Citizens National Bank in Hammond, Hammond, Louisiana 1959 D. U. MADDOX, President, The Commercial National Bank and Trust Company of Laurel, Laurel, Mississippi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1960 WALLACE M. DAVIS, President, The Hibernia NationaI Bank, New OrIeans, Louisiana 1961 W. P. MCMULLAN, President, Deposit Guaranty Bank & Trust Company, Jackson, Mississippi . . . . . . 1961 .......... OFFICERS M. L. SHAW, Vice President and Manager; R. M. STEPaENsoN,Assistant Vice President; L.Y.CHAPMAN, CmhkT; R. M. JIJNCA, Assistant Cashier.
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