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FEDERALRESERVEBANK OF ATLANTA THIRTIETH ANNUAL STATEMENT January 15,1945. T o the Stockholders of the Federal Reserve Bank of Atlanta: There is presented herein statement of the condition of the Federal Reserve Bank of Atlanta, m at close of business December 31,1944, together with statement of earnings and expenses for the year. Sincerely yours, W. S. McLARIN, JR., President. 31. 1944 Statement of Condition-December ASSETS GOLDCERTIFICATES ON HANDAND DUE FROM U .S. TREASURY ................... REDEMPTION FUND-FEDERAL RESERVENOTES. . . . . . . OTHERCASH . . . . . . . . . . . . . . . . . . . . . TOTALRESERVES. . . . . . . . . . . . . . . . . . INDUSTRIAL ADVANCES. . . . . . . . . . . . . . . . . U . S. GOVERNMENT SECURITIES . . . . . . . . . . . . . BONDS . . . . . . . . . . . . . . . . . . . . . . NOTES . . . . . . . . . . . . . . . . . . . . . . CERTIFICATES. . . . . . . . . . . . . . . . . . . BILIS . . . . . . . . . . . . . . . . . . . . . . . TOTALU . S. GOVERNMENT SECURITIES . . . . . . . . . . TOTAL BILLS AND SECURITIES. . . . . . . . . . . . . DUE FROM FOREIGN BANKS. . . . . . . . . . . . . . . FEDERAL RESERVENOTESOF OTHERBANKS. . . . . . . . UNCOLLECTED ITEMS . . . . . . . . . . . . . . . . . BANKPREMISES .................... OTHER ASSETS. . . . . . . . . . . . . . . . . . . . TOTAL ASSETS . . . . . . . . . . . . . . . . LIABILITIES ACTUALCIRCULATION .... FEDERAL RESERVENOTESIN DEPOSITS: MEMBERBANK-RESERVE ACCOUNT. . . . . . U . S TREASURERGENERAL ACCOUNT . . . . . FOREIGN ................... OTHER DEPOSITS. . . . . . . . . . . . . . TOTALDEPOSITS. . . . . . . . . . . . . DEFERREDAVAIL~BILITY ITEMS . . . . . . . . . OTHERLIABILITIES . . . . . . . . . . . . . . . TOTAL LIABILITIES $890,388,313.71 38,520,7841.63 19,480,614.67 $ 948,389,713.01 $ 21,462.40 43,561,000.00 54,940,000.00 171,197,000.OO 714,028,000.00 983,726,000.00 983,747,462.40 4,340.33 12,159,750.00 119,602,708.19 1,610,928.20 2,471,449.88 $2,067,986,352.01 . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,276,563,495.00 $ 628,914,183.66 9,565,446.90 36,992,438.72 2,84I9,451.07 $ 678,321,520.35 94,140,056.06 372,571.44 $2,049,397,642.85 CAPITAL ACCOUNTS CAPITAL PAID IN . . . . . . . . . . . . . . SURPLUS (SECTION 7) . . . . . . . . . . . . SURPLUS (SECTION13b) . . . . . . . . . . . OTHERCAPITALACCOUNTS . . . . . . . . . . TOTALLIABILITIESAND CAPITALACCOUNTS . . . . . . . . . . . . ..... . . . . . . . . . . 5,850,850.00 7,935,878.37 762,425.68 4,039,555.11 $2.067.986.352.01 $ Statement of Earnings and Expenses for Year 1944 EARNINGS. . . . . . . . . . . . . . . . . OPERATING EXPENSES. . . . . . . . . . . ASSESSMENT FOR BOARD O F GOVERNORS . . COST OF FEDERAL RESERVECURRENCY TOTALNET EXPENSES.. $5,076,590.66 $2,021,673-26 . . . $ 74,398.01 ..... 598,055.03 672,453.04 . . . . . . . . $2,694,126.30 CURRENTNET EARNINGS.. . . . . . . . $2,382,464.36 ADDITIONSTO CURRENTNET EARNINGS: PROFIT ON SALES OF u. s. GOVERNMENT SECURITIES TRANSFERRED FROM RESERVES . $154,427.67 . . . . . . . 28,500.00 . . . . . . . . . . . . 16,174.04 TOTALADDITIONS. . . . . . . . . . . . . 199,101.71 OTHERADDITIONS. DEDUCTIONS FROM CURRENT NET EARNINGS . . . NET ADDITIONSTO CURRENTNET EARNINGS . . NET EARNINGS . . . . . . . . . . . . . . 1,709.30 $ 197,392.41 $2,579,856.77 DISTRIBUTIONOF NET EARNINGS: DIVIDENDS PAID. . . . . . . . . . . . . . $ 339,512.92 PAID UNITEDSTATES TREASURY (SECTION 13b) . 15,138.69 . . . 13,955.11 TRANSFERRED TO SURPLUS (SECTION 13b) TRANSFERRED TO SURPLUS (SECTION 7) ... 2,211,250.05 $2,579,856.77 Directors and Officers Federal Reserve Bank of Atlanta Main Office--Branches-Agency For Year 1945 DIRECTORS FRANK H. NEELY,Chairman J. F. PORTER, Deputy Chainncrn Term Expires CLASS A . . . . . . . . 1945 . . . . . . . . . . 1946 . . . . . . . . 1947 THOMAS K. GLENN,Chairman of the Board, Trust Company of Georgia, Atlanta, Georgia W. D. COOK,President, First National Bank in Meridian, Meridian, Mississippi GEORGE J. WHITE,President, The First National Bank of Mount Dora, Mt. Dora, Florida CLASS B J. A. MCCRARY,Vice President and Treasurer, J. B. McCrary Company, Inc., Decatur, Georgia . FZTZGERALD HALL,President, Nashville, Chattanooga & St. Louis Railway, Nashville, Tennessee ERNESTT. GEORGE, President, Seaboard Refining Company, Ltd., New Orleans, Louisiana CLASS c J. F. PORTER, President, Tennessee Farm Bureau Federation, Columbia, Tennessee . ... . . . . .... . . . . 1945 1946 1947 . . . . . . . . . 194 . . . . . 1946 . . . . . 1947 RUFUSC. HARRIS, President, The Tulane University of Louisiana, New Orleans, Louisiana . . FRANK H. NEELY,Executive Vice President and Secretary, Rich's, Inc., Atlanta, Georgia . . . OFFICERS W. S. MCLARIN, JR., President C. R. CAMP,Assistant Vice President MALCOLM H. BRYAN, First Vice President S. P. SCHUESSLER, Assistant Vice President L. M. CLARK,Vice President J. R. MCCRAVEY, JR., Assistant Vice President H. F. CONNIFF,Vice President V. K. BOWMAN, Vice President POLLARD TURMAN, General Counsel J. E. DENMARK, General Auditor MEMBER OF J?EDERAL ADVISORY COUNCIL KEEHNW. BERRY President Whitney National Bank of New Orleans New Orleans, Louisiana INDUSTRIAL ADVISORY COMMITTEE JOHN E. SANFORD, Chairman Vice President Armour & Company Atlanta, Georgia GEORGEWINSHIP President Fulton Supply Company Atlanta, Georgia A. M. LOCKETT President A. M. Lockett & Company, Ltd. New Orleans, Louisiana I. C. MILNER Executive Vice President Gate City Cotton Mills Atlanta, Georgia W. W. FRENCH President Moore-HandleyHardware Company Birmingham, Alabama New Orleans Branch DIRECTORS JOHN J. SHAFFER, JR., Chairman JOHNJ. SHAFFER, JR., Sugar Cane Planter, Ellendale, Louisiana . . . . . . . . . . . . . . . E. F. BILLINGTON, Vice President, Soule Steam Feed Works, Meridian, Mississippi . . . . . . Term Expires ... . . . T. G. NICHOLSON, President, The First National Bank of Jefferson Parish at Gretna, Gretna, Louisiana . JOHNLEGIER,President, National American Bank of New Orleans, New Orleans, Louisiana . . . . . . J. F. MCRAE,President, The Merchants National Bank of Mobile, Mobile, Alabama . . . . . . . . . E. P. PARIS, Managing Director . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1945 . 1946 .1945 .19% . 1947 . 1945 OFFICERS E. P. PARIS, Managing Director Cashier M. L. SHAW, F. c. F'ASTERLING, Assistant Cashier Assistant Cashier W. H. SEWELL, L. Y. CHAPMAN. Assistant Cashier Birmingham Branch DIRECTORS Term Expires EDWARD L. NORTON, Chairman WM. HOWARD SMITH,Planter and Cattle Raiser, Prattville, Alabama .............. EDWARD L. NORTON,Chairman, Voice of Alabama, Inc., Radio Station WAPI, Birmingham, Alabama DONALD COMER,Chairman of the Board, Avondale Mills, Birmingham, Alabama . . . . . . . . . M. B. SPRAGINS, President, The First National Bank of Huntsville, Huntsville, Alabama . .1945 . .1946 . . 1947 . . . . . . . . 1945 G. HALL,Executive Vice President, The First National Bank of Birmingham, Birmingham, Alabama 1946 GORDON D. PALMER, President, The First National Bank of Tuskaloosa, Tuscaloosa, Alabama . . . . . . 1947 JAMES P. L. T. BEAVERS, Managing Director .............................. OFFICERS P. L. T. BEAVERS, Managing Director H. C. FRAZER, Assistant Manager Cashier H. J, URQUHART, Assistant Cashier *L. W. STARR, * ON LEAVE-MILITARYSERVICE 1945 Jacksonville Branch DIRECTORS Term Expires CHARLES S. LEE, Chairman . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1945 FRANKD. JACKSON, President, Jackson Grain Company, Tampa, Florida . . . . . . . . . . . . . . .1946 WALTERJ. MATHERLY, Dean, University of Florida, Gainesville, Florida . . . . . . . . . . . . . . . . 1947 CHARLES S. LEE, Planter, Oviedo, Florida BERTC. TEED,Executive First Vice President, First National Bank in Palm Beach, Palm Beach, Florida . 1945 . . . . . . 1946 . . . . . . . . . 1947 J. C. MCCROCKLIN, President, First National Bank in Tarpon Springs, Tarpon Springs, Florida J. L. DART,President, The Florida National Bank of Jacksonville, Jacksonville, Florida G. S. VARDEMAN, JR., Managing Director. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1945 OFFICERS G. S. VARDEMAN, JR., Managing Director T. A. LANFORD, Cashier T. C. CLARK, Assistant Cashier Nashville Branch DIREXTORS Term Expires . . 1945 W. E. MCEWEN,Chairman . . . . . . . . . . . . W. BRATTEN EVANS,President, Tennessee Enamel Mfg. Co., Nashville, Tennessee . . . . . . . . . . . 1946 CLYDEB. AUSTIN,President, The Austin Company, Inc., Greeneville, Tennessee . . . . . . . . . . . . 1947 EDWARD POTTER, JR., President, Commerce Union Bank, Nashville, Tennessee . . . . . . . . . . . . .1945 W. E. MCEWEN,Director, County Farm Bureau, Williamsport, Tennessee LESLIER. DRIVER,President, The First National Bank in Bristol, Bristol, Tennessee . . . . . . . . . . .1946 . . . . . . . . . . . . 1947 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1945 B. I.. SADLER, President, First National Bank in Harriman, Harriman, Tennessee JOEL B. FORT, JR., Managing Director. OFFICERS JOEL W. E. PIKE,Assistant Manager B. FORT,JR., Managing Director E. R. HARRISON, Cushier Savannah Agency 'J. H. BOWDEN, Manager E. M. LOONEY, Acting Manager * ON LEAVE-MILITARYSERVICE
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