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FEDERAL RESERVEBANK OF ATLANTA FORTY-NINTH ANNUAL STATEMENT January 31,1964 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, 1963, and December 31, 1962, together with a comparative statement of earnings and expenses for the years 1963 and 1962. MALCOLMBRYAN, President STATEMENT OF CONDITION ASSETS December 31, 1963 December 31, 1962 GOLDCERTIFICATES. . . . . . . . . . . . . . . . . . $ 729,636,633 $ 788,857,065 REDEMPTION FUND FOR FEDERAL RESERVENOTES . . . . . 86,947,155 71,006,735 FEDERAL RESERVENOTESOF OTHERBANKS . . . . . . . . 40,939,000 46,872,000 OTHERCASH . . . . . . . . . . . . . . . . . . . . 25,447,968 2 1,663,187 $ 928,398,987 TOTAL CASH . . . . . . . . . . . . . . . . . . . $ 882,970,756 DISCOUNTS AND ADVANCES. . . . . . . . . . . . . . . $ 5,430,000 $ 5,401,000 U. S. GOVERNMENT SECURITIES . . . . . . . . . . . . . 1,956,527,000 1,757,073,000 TOTALLOANSAND SECURITIES. . . . . . . . . . . $1,%1,957,000 $1,762,474,000 OTHERASSETS: CASHITEMS IN PROCESS OF COLLECTION . . . . . . . $ 548,739,510 $ 605,849,559 BANKPREMISES (NET) . . . . . . . . . . . . . . 16,575,197 13,405,365 ALL OTHER . . . . . . . . . . . . . . . . . . . 22,899,472 21,057,546 TOTALOTHERASSETS . TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES FEDERAL RESERVENOTES . . . . . . . . DEPOSITS: MEMBERBANKRESERVEACCOUNTS. . U. S. TREASURER-GENERAL ACCOUNT. FOREIGN. . . . . . . . . . . . . . OTHER . . . . . . . . . . . . . . . TOTALDEPOSITS . . . . . . . . . OTHERLABILITIES : DEFERREDAVAILABILITYCASHITEMS. ALL OTHER . . . . . . . . . . . . TOTALOTHERLIABILITIES. . . . . TOTAL LIABILITIES . . . . . $ 588,214,179 $3,433,141,935 $ 640,312,470 $3,331,185,457 . . . . . . . 91.929.183,410 $1,791,341,335 . . . . . . . $ 916,247,498 $ 905,419,256 . . . . . . . . . . . . . ...... . . . . . . . 63,197,724 8,800,000 5,513,553 $ 993.758.775 28,274,400 13,780,000 9,153,615 $ 956,627,271 . . . . . . . . . . . . . . $ 421,928,288 $ 502,532,102 4,831,862 3,817,849 . . . . . . . $ 426,760,150 $ 506,349,951 . . . . . . . $3,349,702,335 $3.254.318.557 CAPITAL ACCOUNTS CAPITALPAIDIN . . . . . . . . . SURPLUS. . . . . . . . . . . . . TOTAL CAPITALACCOUNTS. . . TOTAL LIABILITIES AND CAPITAL ACCOUNTS . . . . . . . . . . . ......... $ . . . . . . . . . . $ . . . . . . . . . . $3,433,141,935 27,813,200 55,626,400 83,439,600 $ $ 25,622,300 51,244,600 76,866,900 $3:331,185,457 c EARNINGS AND EXPENSES TOTAL CURRENTEARNINGS . . . . . . . . . . . . . . . NET EXPENSES. . . . . . . . . . . . . . . . . . . . CURRENTNET EARNINGS. . . . . . . . . . . . . . ADDITIONSTO CURRENTNET EARNINGS: PROFIT ON SALES OF U. S. GOVERNMENT SECURITIES (NET) . . . . . . . . . . . . . . ALL OTHER . . . . . . . . . . . . . . . . . TOTALADDITIONS . . . . . . . . . . . . . . DEDUCTIONS FROM CURRENT NET EARNINGS. . . . . . NET ADDITIONS(+) DEDUCTIONS (-) . . . .. . NET EARNINGS BEFOREPAYMENT TO U. S. TREASURY . . PAIDU. S. TREASURY (INTEREST ON F. R. NOTES) . . . DIVIDENDS PAID . . . . . . . . . . . . . . . . . TRANSFERRED TO SURPLUS ACCOUNT. . . . . . . . . $ ~~ $ . . $ . . . . $ . . . . . . . . . . $ $ $ . . ~~ $ 1963 63,505,003 12.605.038 50,899,965 16,693 19.027 35,720 1,686 34,034 50,933,999 44,938,810 1,613,389 4.381.800 50,933,999 + $ $ $ $ ~~ $ $ $ $ 1962 56,604,052 12.029.616 44,574,436 107,685 20.488 128,173 1.111.067 - 982,894 43,591,542 38,318,568 1,481,974 3.791.000 43,591,542 SURPLUS ACCOUNT SURPLUS JANUARY 1 . . . . . . . . . . . . . . . . . TRANSFERRED TO SURPLUS-AS ABOVE . . . . . . . . . . SURPLUS DECEMBER 31 . . . . . . . . . . . . . . . . $ $ 51,244,600 4,381,800 5.5,626,400 $ $ 47,453,600 3,791,000 51,244,600 Federal Reserve Bank of Atlanta DIRECTORS CLASS A Elected by Member Banks Term Expires December 31 M. M. KIMBREL,Chairman, The First National Bank, Thomson, Georgia GEORGE S. CRAFT,President, Trust Company of Georgia, Atlanta, Georgia ..... ..... ... . 1964 . . 1965 . . . . . . . . . . . . . . . . . . . . . 1966 D. C. WADSWORTH, SR., President, The American National Bank, Gadsden, Alabama. . . CLASS B Elected by Member Banks . H. CROW,JR., Vice President, The Chemstrand Corporation, Decatur, Alabama . MCGRECOR SMITH,Chairman, Florida Power & Light Company, Miami, Florida . . . . . W. MAXEYJARMAN, Chairman, Genesco, Inc., Nashville, Tennessee , . . . . . . . . . JAMES . . . . . . . . . . . . . . . ... . . ... .. . . . . .. . .. .. . . 1964 . 1965 . 1966 CLASS c Appointed by the Board of Governors of the Federal Reserve System JACK TARVER,(Chairman), President, Atlanta Newspapers, Inc., Atlanta, Georgia ... . J. M. CHEATHAM, (Deputy Chairman), President, Dundee Mills, Inc., Griffin, Georgia . JOHNA. HUNTER,President, Louisiana State University, Baton Rouge, Louisiana . . . 1964 . . 1965 . . 1966 OFFICERS MALCOLM BRYAN,President; HAROLD T. PATTERSON, First Vice President and General Counsel; J . EMORY Vice President and Cashier; R. DEWITTADAMS,General Auditor; RICHARD A. SANDERS, Associate MCCORVEY, Yice President; LLOYDB. RAISTY,Vice President; BROWNR. RAWLINGS. General Auditor; J. E. DENMARK, Vice President; CHARLES T. TAYLOR, Vice President and Director of Research. HARRYBRANDT,Assistant Vice President; C. MASON FORD,Assistant Yice President; JOHN T. HARRIS, Assistant Vice President; GEORGEHIBBERT,Assistant Counsel; BEYRLE. HOWARD,Assistant Vice President; F. HERBERTMARTIN,Assistant Vice President; GEORGEW. SHEFFER, JR., Chief Examiner; ROBERTM. STEPHENSON, 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 General Auditor; ERICHINGST,Assistant Cashier; DUANEHOOVER,Assistant Cashier; ARTHURH . KANTNER.Assistant Cashier; FREDMILLSAPS,Assistant Cashier; BASIL A. WAPENSKY,Assistant Cashier; JEFFREY J. WELLS,Assistant Cashier. MEMBER FEDERAL ADVISORY COUNCIL J. FINLEY MCRAE,President The Merchants National Bank Mobile, Alabama c 4 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 . . . 1964 JACKW. WARNER,Chairman and President, Gulf States Paper Corporation, Tuscaloosa, Alabama . . . 1965 d I Appointed by the Board of Directors, Federal Reserve Bank of Atlanta JOHN H. NEILL, JR., President, Union Bank & Trust Company, Montgomery, Alabama . . . . . . . . .1964 W. H. MITCHELL,President, The First National Bank, Florence, Alabama A. CALVINSMITH, President, First National Bank, Greenville, Alabama JOHN . . . . . . . . . . . . . . . 1964 . . . . . . . . . . . . . . . 1965 A, HAND,President, The First National Bank of Birmingham, Birmingham, Alabama . . . . . . . .1966 OFFICERS E. C. RAINEY,Vice President and Manager; WM. A. WALLER,JR., Assistant Vice President and Cashier; MARVINW. STEWART, Assistant Cushier; WILLIAMH. THOMAS, Assistant Cashier. Jacksonville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 HARRYT. VAUGHN,(Chairman), President, United States Sugar Corporation, Clewiston, Florida. . . . . 1964 CLAUDEJ. YATES,Vice President and General Manager, Southern Bell Telephone & Telegraph Company, Jacksonville, Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. J. OLLIE EDMUNDS,President, Stetson University, DeLand, Florida 1965 . . . . . . . . . . . . . . . . . .1966 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta HARRYFAGAN, President, First National Bank in Fort Myers, Fort Myers, Florida. . . . . . . . . . . . 196.2 ARTHURW. SAARINEN, President, Broward National Bank, Fort Lauderdale, Florida . . . . . . . . 1964 . . . . . . . . . 1965 WILLIAM H. DIAL, President, The First National Bank at OrIando, Orlando, Florida . . . . . . . . . 1966 J. T. LANE,Chairman, The Atlantic National Bank of Jacksonville, Jacksonville, Florida OFFICERS T. A. LANFORD, Vice President and Manager; DOWUELL BROWN,JR., Assistant Vice President; T. C. CLARK, Assistant Vice President; VESTUSL. CROW,Cashier; B. H. HARGETT, Assistant Cashier. 4 v Nashville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System V. S. JOHNSON, ..... ...... ...... Chairman and President, Aladdin Industries, Inc., Nashville, Tennessee JR., ANDREWD. HOLT, (Chairman), President, University of Tennessee, Knoxville, Tennessee. JAMES Tenn Expires December 31 E. WARD,President, Baird-Ward Printing Company, Inc., Nashville, Tennessee ... . 1964 . 1965 . 1966 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta TRAVISHITT, President, Farmers National Bank, Winchester, Tennessee . . . . . . . . . . . . . . . 1%4 . . . . . . . . . . . 1964 R. S. WALLING,President, First National Bank, McMinnville, Tennessee . . . . . . . . . . . . . . . 1965 WILLIAMF. EARTHMAN, JR., President, Commerce Union Bank, Nashville, Tennessee . . . . . . . . . . 1966 HARRYM. NACEY,JR., President, Hamilton National Bank, Knoxville, Tennessee OFFICERS R. E. MOODY,JR., Vice President and Manuger; 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 KENNETHR. GIDDENS,President, WKRG-TV, Inc., Mobile, Alabama. Term Expires December 31 . . . , . . . . . . . . . . . . 1964 . . . . . . . . . . . . 1965 , J. 0. EMMERICH,f Chairman), Editor, Enterprise-Journal, McComb, Mississippi GEORGE BENJAMINBLAIR,General Manager, American Rice Growers Cooperative Association, . .. Lake CharIes, Louisiana . . . , . . . . . . . . . . . . . . . . . . . .. .. . . . . . . 1966 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta . . . . . . , . . . . . . 1964 JOHNOULLIBER,President, The National Bank of Commerce in New Orleans, New Orleans, Louisiana. . 1964 J. R. MCCRAVEY, JR., Vice President, Bank of Forest, Forest, Mississippi . . . . . . . . . . . . . . . 1965 L. Y. FOOTE, President, First National Bank of Hattiesburg, Hattiesburg, Mississippi . . . . . . . . . 1966 LEWIS GOTTLIEB,Chairman, City National Bank, Baton Rouge, Louisiana. . , OFFICERS M. L. SHAW,Vice President and Manager; THEODORE WALTER,Assistant Vice President and Assistant Manager; L. Y. CHAPMAN, Assistant Vice President; R. M. JUNCA, Assistant Cashier.
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