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FEDERAL RESERVEBANK OF ATLANTA FORTY-SEVENTH ANNUAL STATEMENT January 25, 1962 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, 1960, and December 31, 1941, together with a comparative statement of earnings and expenses for the years 1960 and 1961. Sincerely yours, MALCOLMBRYAN, President STATEMENT OF CONDITION ASSETS I ti I 'i .. GOLDCERTIFICATES . . . . . . . . . . REDEMPTIONFUND FOR FEDERAL RESERVENOTES FEDERAL RESERVENoms OF OTHERBANKS . . OTHERCASH . . . . . . . . . . . . TOTALCASH . . . . . . . . . . . DISCOUNTS AND ADVANCES. . . . . . . . . . . . . . . . . . . . . . . u. s. COVERNMENT SECURITIES. . . . . . . . TOTALLOANSAND SECURITTES . . . . . . . . . . . . . . . . . . . . . OTHERASSETS: CASHITEMSIN PROCESS OF COLLECTION. . BANKPREMISES (NET) . . . . . . . . ALL OTHER . . . . . . . . . . . TOTALOTHERASSETS . . . . . . . TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . LIABILITIES FEDERAL RESERVENOTES . . . . . . DEPOSITS: MEMBERBANKRESERVEACCOUNTS . U. S. TREASURER-GENERAL ACCOUNT . FOREIGN.. . . . . . . . . . OTHER . . . . . . . . . . . TOTAL DEPOSITS . . . . . . . OTHERLIABILITIES: DEFERREDAVAILABILITY CASHITEMS . ALL OTHER . . . . . . . . . TOTAL OTHERLIABILITIES. . . . TOTAL LIABILITIES . . . . . . . . . December 31.1961 December 31.1960 $ 862,511,837 $ 918,221,770 70,872,905 57,177,000 1,995,000 1,579,201,000 $1.581.1%,000 63,624,865 59,54.6,500 27,792,889 $1,069,186,024 $ 2,316,000 1,479.575.000 $1,481,891,000 $ 530,941,282 $ 517,047,593 $ 13,465,848 14,010,875 $ 558,418,005 $3,156,477,771 11,424,004 $3,091,775,650 r . . . . . . 31.716.806.830 $1,640,861,255 . . . . . . . . . . . . $ 892,221,853 $ 906,121,177 31,886,201 11,128,000 3,884,299 $ 953,019,677 . . . . . . . . . . . . . . . . . . 12,516,205 14,045,000 4,562,554 $ 923,345,612 . . . . . . $ 441,973,193 . . . . . . . . . . . . . . . . . . 3,171,736 $ 445.14.929 $3,085,297,371 $ 430,757,870 1.62 1.648 $ 432,379,518 $3,026,260,450 $ $ CAPITAL ACCOUNTS . . . . . . . . . . . . . . . SURPLUS . . . . . . . . . . . . . . . . . . TOTAL CAPITALACCOUNTS . . . . . . . . . . CAPITALPAIDIN TOTAL LIABILITIES AND CAPITAL ACCOUNTS . . . . . . . . . $ 23,726,800 41,453,600 71,180,400 $3,156,477,771 $ 21,838,400 43.676.800 65,515,200 $3,091,775,650 EARNINGS AND EXPENSES 1961 TOTAL CURRENTEARNINGS. . NET EXPENSES. . . . . . CURRENTNET EARNINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET EARNINGS: PROFIT ON SALES OF U . S. GOVERNMENT SECURITIES (NET) . . . . . . . . . . . TRANSFERRED FROM RESERVES FOR CONTINGENCIES . . . . . . . . . . . . ALL OTHER . . . . . . . . . . . . . . TOTAL ADDITIONS . . . . . . . . . . . . DEDUCTIONS FROM CURRENTNET EARNINGS. . . . . NET ADDI~ONS . . . . . . . . . . . . . . . NET EARNINGS BEFOREPAYMENT TO u . s. TREASURY . . PAIDU. S. TREASURY (INTEREST ON F. R . NOTES) . . . DIVIDENDS PAID. . . . . . . . . . . . . . . TRANSFERRED TO SURPLUS ACCOUNT . . . . . . . . ADDITIONSTO $ 1960 51.648. 072 $ 10.843.838 60.741. 128 10.706. 368 $ 40.809..234 $ 50.034. 760 $ 190.421 $ 131.479 CURRENT . . . . . . . . . . -e- 886.967 83 606 190.504 929 $ $ 189.575 $ 1.018.234 $ 40.993. 809 $ 51.052.994 $ 35.824.668 $ 46.417. 055 $ 1.019. 052 818 1.392. 341 1.264.939 3.776.800 3.371. 000 $ 40.993.809 $ 51.052. 994 $ 43.676. 800 3.776. 800 $ 40.305. 800 47.453. 600 $ SURPLUS ACCOUNT SURPLUS JANUARY 1 . . . . . . . TRANSFERRED TO SURPLUS-AS ABOVE . SURPLUS DECEMBER 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3.371. 000 43.676. 800 R Federal Reserve Bank of Atlanta DIRECTORS CLASS A Elected by Member Banks Term Expires December 31 . . . . . . . . . . . 1964 . . . . . . . . . . . . . . . . 1963 Thomson, Thomson, Georgia. . . . . . . . . . . 1962 D. C. WADSWORTH, SR., President, The American National Bank, Gadsden, Alahama Y GEORGE S. CRAFT,President, Trust Company of Georgia, Atlanta, Georgia M. M. KIMBREL, Chairman, The First National Bank of CLASS B Elected by Member Banks L c H. CROW,JR., Vice President, The Chemstrand Corporation, Decatur, Alabama . . . . . . . . . .1964 W. MAXEYJARMAN, Chairman, Genesco, Inc., Nashville, Tennessee . . . . . . . . . . . . . . . . . . .1963 JAMES MCGREGOR SMITH, Chairman, Florida Power & Light Company, Miami, Florida . . . . . . . . . . . . .1962 CLASS C Appointed by the Board of Governors of the Federal Reserve System JACK TARVER (Chairman), President, Atlanta Newspapers, Inc., Atlanta, Georgia . . . . . . . . . . . . .1964 H. G. CHALKLEY, JR. (Deputy Chairman), President, Sweet Lake Land & Oil Company, Inc., Lake Charles, Louisiana. i ................................... ...................... J. ill. CHEATHAM, President, Dundee Mills, Griffin, Georgia 1963 1962 OFFICERS 4 t MALCOLM BRYAN,President; HAROLD T. PATTERSON, First Vice President and General Counsel; J. E. MCCORVEY, Vice President and Cashier; J. E. DENMARK, Vice President; L. B. RAISTY,Vice President; BROWNR. RAWLINCS, Vice President; CHARLEST. TAYLOR, Vice President ana! Director of Research; R. DEWITTADAMS,General Assistant Vice President; F. H. Auditor; DOWDELL BROWN,JR., Assistant Vice President; C. MASONFORD, JR., Chief MARTIN,Assistant Vice President; I. H. MARTIN,Assistant Vice President; GEORGEW. SHEFFER, Examiner; EDGARM. VALLETTE, Assistant Vice President; THEODORE WALTER,Assistant Vice President; HARRY Assistant Vice President; FRED I. BRECK,Assistant Cashier; J. B. FORBES, Assistant General Auditor; BRANDT, J. T. HARRIS,Assistant Cashier; GEORGEHIBBERT,Assistanz Counsel; B. E. HOWARD, Assistant Cashier; JEFFREY J. WELLS,Assistant Cashier; BASIL A. WAPENSKY, Assistant Cashier. MEMBER FEDERAL ADVISORY COUNCIL I J. FINLEY MCRAE President, The Merchants National Bank Mobile, Alabama Birmingham Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 JACK W . WARNER, Chairman and President, Gulf States Paper Corporation, Tuscaloosa, Alabama . SELDEN SHEFFIELD, Cattleman, Farview Farms, Greensboro, Alabama . . . . 1962 . . . . . . . . . . . . . . . . . .1963 HENRYK. STANFORD, President, Birmingham Southern College, Birmingham, Alabama . . . . . . . . . .1964 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta R. J. MURPHY,Executive Vice President, Citizens-Farmers & Merchants Bank, Brewton, Alabama. . . . . 1962 . 1963 . . . . . . . . . .1964 FRANK A. PLUMMER, Chairman and President, Birmingham Trust National Bank, Birmingham, Alabama. JOHN H. NEILL,JR., President, Union Bank & Trust Company, Montgomery, Alabama. W. H. MITCHELL, President, First National Bank, Florence, Alabama . . . . . . . . . . . . . . . . . . 1964 OFFICERS H. C. FRAZER, Vice President and Manager; E. C. RAINEY,Assistant Vice President; WM. A. WALLER, JR., Cmhier; MELVINMCILWAIN, Assistant Cashier. Jacksonville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 J. YATES,Vice President and General Manager, Southern Bell Telephone & Telegraph CLAUDE Company, Jacksonville, Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1962 . . . . . . . . . . . . . . . . . . . 1963 HARRY T. VAUGHN,President, United States Sugar Corporation, Clewiston, Florida. . . . . . . . . . . .1964 J. OLLIEEDMUNDS, President, Stetson University, DeLand, Florida Appointed by the Board of Directors, Federal Reserve Bank of Atlanta . . . . . .1962 GODFREY SMITH,President, Capital City National Bank of Tallahassee, Tallahassee, Florida . . . . . . . 1963 J. T. LANE,Chairman, The Atlantic National Bank, Jacksonville, Florida . . . . . . . . . . . . . . . .1964 HARRY FAGAN, President, First National Bank, Fort Myers, Florida . . . . . . . . . . . . . . . . . . .1964 LEONARD A. USINA,Chairman, Peoples National Bank of Miami Shores, Miami Shores, Florida OFFICERS T. A. LANFORD, Vice President and Manager; T . C . CLARK,Assistant Vice President; VESTUSL. CROW,Cashier; B. H. HARGETT, Assistant Cashier. Nashville Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System Term Expires December 31 . . . . . . . . . . . . . . .1%2 Colonial Baking Company, Nashville, Tennessee. . . . . 1963 ANDREW D. HOLT,President, University of Tennessee, Knoxville, Tennessee W. N. KRAUTH,President and General Manager, V. S. JOHNSON, JR.,Chairman and President, Aladdin Industries, Inc., Nashville, Tennessee. . . . . . . . 1964 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta D. L. EARNEST, President, Blount National Bank, Maryville, Tennessee. . . . . . . . . . . . . . . . . .1962 D. W. JOHNSTON, Executive Vice President, Third National Bank in Nashville, Nashville, Tennessee . TRAVIS HITT, President, Farmers National Bank, Winchester, Tennessee . . . . . . . . . . . . . . . . . 1963 . . . 1964 HARRY M. NACEY,JR.,President, Hamilton National Bank, Knoxville, Tennessee . . . . . . . . . . . . .1964 OFFICERS R. E. MOODY,JR., Vice President and Manager; W. H. SEWELL, Assistant Vice President; STUART H. MACEE,Assistant Cushier. L W. STARR, Cashier; New Orleans Branch DIRECTORS Appointed by the Board of Governors of the Federal Reserve System J. 0. EMMERICH,Editor, Enterprise-Journal, McComb, Mississippi . . . . . . . . . FRANK A. GODCHAUX, 111, Vice President, Louisiana State Rice Milling Company, Inc., Abbeville, Louisiana Term Expires December 31 . . . . . . . . . .1962 ..................................... KENNETHR. GIDDENS, President, WKRG-TV, Inc., Mobile, Alabama 1963 . . . . . . . . . . . . . . . . . . 1964 Appointed by the Board of Directors, Federal Reserve Bank of Atlanta FRANK A. GALLAUCHER, President, Jeff Davis Bank & Trust Company, Jennings, Louisiana. . . . . . . . . 1%2 . . . . . . . . . . .1963 LEWISGOTTLIEB,Chairman, City National Bank, Baton Rouge, Louisiana . . . . . . . . . . . . . . . .1964 JOHNOULLIBER, President, National Bank of Commerce, New OrIeans, Louisiana . . . . . . . . . . . .1964 GILESW. PATTY, President, First National Bank in Meridian, Meridian, Mississippi. OFFICERS M. L. SHAW, Vice President and Manager; R. M. STEPHENSON, Assistant Vice President; L. Y. CHAPMAN,Cashier; R. M. JUNCA, Assistant Cashier.
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