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FEDERAL RESERVEBANK OF ATLANTA FORTY-SECOND ANNUAL STATEMENT February 1,1957 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, 1956,,,hd!--$!-:-' %* December 31, 1955, together with a corhpm6tim -. - ' statement of earnings and expenses for the years 1956 and 1955. Sincerely yours, MALCOLMBRYAN, President -... J , a STATEMENT OF CONDITION (In d o k s ) GOLD CERTIFICATES .. ASSETS December 31,1956 ................ ...... ........ .................... ................... REDEMPTION FUND FOR FEDERAL RESERVENOTES FEDERAL RESERVENOTESOF OTHERBANKS OTHERCASH. TOTALCASH DISCOUNTSAND ADVANCES U. S. GOVERNMENT SECURITIES ........ TOTALLOANSAND SECURITIES OTHERASSETS: UNCOLLECTED CASH ITEMS BANKPREMISES (NET) ALL OTHER TOTAL OTHERASSETS ............... f' t ..... ............ ............. ............... ................... .............. TOTAL ASSETS . . . . . . . . . . . . . . . LIABILITIES I i A + : d FEDERAL RESERVENOTE5 . . . . . . . . . . . DEPOSITS: MEMBERBANKRESERVE ACCOUNTS ...... U. S. TREASURER~ENERAL ACCOUNT FOREIGN. . . . . . . . . . . . . . . . . . OTHER.. TOTALDEPOSITS .... .... ........ .. ................... ............... OTHERLIABILITIES: DEFERREDAVAILABILITYCASHITEMS ALL OTHER TOTAL OTHERLIABILITIES ........ ................... ............ TOTAL LIABILITIES . . . . . . . . . . . . 832,066,186 51,173,440 54,053,750 23,034,073 960,327,449 2,950,000 1,265,43,000 1,268,353,000 December 31,1955 889,110,558 53,717,150 48,161,350 27,113,269 1.018.102.327 19.743.000 1.278,761,000 2,657,973,348 376,498,830 4,044,569 9,002,541 389,545,940 2.686.409.267 1,371,606,8413 1,398,4-43,220 905,110,518 24,258,3@4 13,024,000 7,233,901 949,626,723 851,419,928 39,760,304 16,598,000 5,765,118 913,543,350 280,189,562 684,036 280,873,598 2,602,107,161 322,119,011 591,274 322,710,285 2,634,696,855 15,493,450 33,179,336 762,426 6,430,975 55,866,187 13,692,400 30,841,102 762,426 6,416,484 51,712,412 2,657,973,348 2,686,409,267 411,222,628 4,687,099 13,383,172 429,292,899 - CAPITAL ACCOUNTS ................... ................. ................ i ,. CAPITALPAIDIN SURPLUS (SECTION 7) SURPLUS (SECTION13b) RESERVESFOR CONTINGENCIES TOTALCAPITAL ACCOUNTS. ............. ............ TOTAL LIABILITIES AND CAPITAL ACCOUNTS ............ - = EARNINGS AND EXPENSES (In dollars) 1956 1955 30.737. 424 7.787. 996 21.503. 461 7.087. 330 22.949. 428 14.416.131 . . . . . . 14.623 .................. TOTAL ADDITIONS. . . . . . . . . . . . . . . . 131 -0122 122 TOTAL CURRENTEARNINGS. . . NET EXPENSES. . . . . . . . .. CURRENT NET EARNINGS ............ ............ ............ ADDITIONSTO CURRENTNETEARNINGS: PRORT ON SALESOF U.S.GOVERNMENT SECURITIES(NET) . . . . . . . . . ALL OTHER . .. TOTAL CURRENTNETEARNINGS AND ADDITIONS . 14.754 22.964. 182 FROM CURRENT NET EARNINGS : DEDUCTIONS .. Loss ON SALESOF U S GOVERNMENT SECURITIES (NET) . . . . . . . . . ...... ............ RESERVES FOR CONTINGENCIES ALL OTHER . . . . . . . . . . . . . . . . . . . TOTALDEDUCTIONS ............... -0- 15.142 5.286 21. 507 NET EARNINGS BEFOREPAYMENTS TO U.S. TREASURY PAIDUNITED STATESTREASURY (Interest on Federal Reserve Notes) . . . . . . . . . . . . . . 22.949. 040 14.394.746 19.731.928 12.249J51 2.145. 595 . . . NET EARNINGS AFTERPAYMENTS TO U . S TREASURY ............. DIVIDENDS TRANSFERRED TO SURPLUS (Section 7) . . ......... .......... 40 16.181 14.591 551 3.217. 112 878.878 2.338. 234 784. 588 1.361. 007 i SURPLUS ACCOUNT (SECTION7) SURPLUS JANUARY 1. . . . . . . . TRANSFERRED TO SURPLUS-AS ABOVE SURPLUSDECEMBER 31 .......... .......... 30.841. 102 2.338. 234 29.480. 095 1.361. 007 ................ 33.179. 336 30.841. 102 - Federal Reserve Bank of Atlanta DIRECTORS CLASS A Term Expires Elected by Member Banks December 31 W. C. BOWMAN, Chairman of the Board, The First National Bank of Montgomery, Montgomerg, Alabama. 1957 1958 WILLIAMC. CARTER,Chairman and President, Gulf National Bank of Gulfport, Gulfport, Mississippi. ROLAND L. ADAMS,President, Bank of York, York, Alabama 1959 ..................... .. CLASS B Elected by Member Banka POLLARD TURMAN, President, J. M. Tull Metal and Supply Company, Inc., Atlanta, Georgia. DONALD COMER,Chairman of the Board, Avondale Mills, Birmingham, Alabama. JOSEPH T. LYKES,Chairman and Director, Lykes Bros. Steamship Company, Inc., Tampa, Florida. . . . . . .1957 . . . . . . . . . . . .1958 . . . 1959 CLASS c Appointed by the Board of Governors of the Federal Reserve System H. G. CHALKLEY, JR., President, The Sweet Lake Land & Oil Company, Inc., Lake Charles, Louisiana WALTERM. MITCHELL(Chairman of the Board and Federal Reserve Agent), Vice President, The Draper Corporation, Atlanta, Georgia HARLLEEBRANCH,JR. (Deputy Chairman), President, The Southern Company, Atlanta, Georgia. . . 1957 . . . . . . . . . . . . . . . . . . . . . . . . . . . .1958 . . . .1959 OFFICERS MALCOLM BRYAN,President; LEWISM. CLARK,First Vice President; V . K. BOWMAN,Vice President; J. E. DENMARK,Vice President; JOHN L. LILES, JR., Vice President and Cashier; HAROLDT. PATTERSON, Vice President and General Counsel; L. B. RAISTY, Vice President; E. L. RAUBER,Vice President and Director of Research; S. P. SCHUESSLER, Vice President; DOWDELLBROWN,JR., Assistant Vice President; F. H. MARTIN, Assistant Vice President; I. H. MARTIN,Assistant Vice President; J. E. MCCORVEY, Assistant Vice President; R. E. MILLING,Assistant Vice President; CHARLEST. TAYLOR, Assistant Vice President; FREDI . BRECK,AsJR., Assistant Cashier; R. DEWITT ADAMS,General Auditor; JAMES B. sistant Cashier; BROWNRAWLINGS, FORBES, Assistant General Auditor; GEO. W. SHEFFER, JR., Chief Examiner. MEMBER FEDERAL ADVISORY COUNCIL COMERJ. KIMBALL Chairman, Board of Directors The First National Bank of Miami Miami, Florida INDUSTRIAL ADVISORY COMMIlTEE I. c. MILNER President Gate City Mills Company East Point, Georgia SHANNON M. GAMBLE Executive Vice President Standard-Coosa-Thatcher Company Chattanooga, Tennessee LUTHERH. RANDALL President Randall Brothers, Inc. Atlanta, Georgia .. 1 _- . . . . . . . . . Birmingham Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System EDWINC. BOTTCHER (Chairman), Farmer, CuUmtyl, Alabama . . . . . . . . E. UBQUHART, President, Woodward Iron Company, Woodward, Alabama Term Expires December 31 . . . . . . . . . . . . 1957 JQHN . . . . . . . . . . . . .1958 ADOLPR WEFL,SR., President, Weil Brothers-Cotton, Inc., Montgomery, Alabama . . . . . . . . . . . . .1959 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta . . 1957 . . . . . 1958 MALCOLM A. SMITH, First Vice President, Birminghm Trust National Bank, Birmingham, Alabama. ROBERTM. CLECKLER, President, First National Bank of Childersbyrg, Childersburg, Alabama. E. W.MCLEOD,Pre&h$, The Mwgq County National Bank of Deeatar, Decatw, Alabama . JORN . , . . . .1958 R. DOWNING, Executive Vice President, Ciens-Farmers & Merchants Bank, Brewton, Alabama. l .1959 Jacksonville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System J. WAYNE~ E I T Z(Chdrman), President, University of Florida, Gainesville, Florida ..... Term Expires December 31 . . . . . 1957 HARRYM. SMITH,President and Manager, Winter Garden Ornamental Nursery, Inc., Winter Garden, Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1958 SMITE,Chairman and Director, Florida Power and Light Company, Miami, Florida. . . . . ,1959 MCGRECOR JAMB Appointed by the Board of Directors, Federal Reserve Bank of Atlanta L. NIBLACK,President, The First National Bank of Lake City, Lake City, Florida. . . . . . . .1957 LINTONE. ALLEN,Chairman and Director, The First National Bank at Orlando, Orlando, Florida . . . . . 1958 W.E. ELLIS,President and Chairman, The Commercial Bank and Trust Company of Ocala, Ocala, Florida JAMES G. GARNER, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1958 . . . . . . . . .1959 President, Little River Bank and Trust Company, Miami, Florida. OFFICERS T. A. LANFORD, Vies President and M m g m ; T. C. CLARK,Assistant Vice President; J, W. SNYDER,Cashier; C. Mason FORD, Assistant Cashier. Nashville Branch DIRECTORS Term Expires December 31 Appointed by the Board of Governors of the Federal Reserve System A. CARTER MYERS(Chairman), Treasurer, Knoxville Fertilizer Company, Knoxville, Tennessee ERNESTJ. MOENCH,President, Tennessee Tuftiig Company, Nashville, Tennessee. . . . . .1957 . . . . . . . . . ..1958 FRANK B. W m , Dean, College of Business Administration, University of Tenneaeee, Knoxville, Tennessee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1959 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta . . . . . . .1957 . . . . .1958 C. L. WILSON,President, The Cleveland National Bank, Cleveland, Tennessee . . . . . . . . . . . . . 1958 Jo H.ANDERSON, President, Park National Bank of Knoxville, Knoxville, Tennessee. . . . . . . . . . . 1959 J. R. KELLAM,JR., Executive Vice President, Commerce Union Bank, Nashville, Tennessee STEWART CAMPBELL, President, The Harpeth National Bank of Franklin, Franklin, Tennessee. OFFICERS R. E. MOODY,JR., Vice President and Manuger; W . H . SEWELL, Assistant Vice President; L. W. STARR, Cashier; STLTART H. MAGEE,Assistant Cashier. New Orleans Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System E. E. WILD (Chairman), Rice Grower, Midland, Louisiana Term Expires December 31 1959 ...................... . . . . . . .1957 . . . . . . . .1958 JOELL. FLETCHER, JR., President, Southwestern Louisiana Institute, LaF'ayette, Louisiana. G. H.KING, JR., Executive Vice President, King Lumber Industries, Canton, Mississippi. Appointed by the Board of Directors, Federal Reserve Bank of Atlanta D. U. MADDOX, President, The Commercial National Bank and Trust Company of Laurel, Laurel, Mississippi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1957 H. AUSTILLPHARR, President, The First National Bank of Mobile, Mobile, Alabama. . . . . . . . . . 1958 WILLIAMJ. FISCHER,President, Progressive Bank and Trust Company, New Orleans, Louisiana. . . . .1958 J. SPENCER JONES, President, The Citizens National Bank in Hammond, Hammond, Louisiana. . . . . .1959 OFFICERS M. L. SHAW,Vice President and M m g e r ; R. M. STEPHENSON, Assistant Vice President; L.Y.CHAPMAN, Cashier; R. M. JUNCA, Assistant Cashier.
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