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FEDERAL RES1 OF ATLANTA THIRTY-EIGHTH ANNUAL STATEMENT January 16,1953 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 Atlan#a as at close of business December 31, 1952, and December 31, 1951, together with a comparative statement of earnings and expenses for the years 1952 and 1951. Sincerely yours, MALCOLMBRYAN, President 1 ha+ * 332 ' Fst! \ COMPARATIVE STATElMENT OF CONDITION ASSETS December 31. 1952 December 31. 1951 GOLDCERTIFICATES .................. REDEMPTION FUND FOR FEDERAL RESERVE NOTES. . . . . . TOTALGOLDCERTIFICATERESERVES. . . . . . . . . OTHERCASE . . . . . . . . . . . . . . . . . . . . . TOTALCASH . . . . . . . . . . . . . . . . . . . DISCOUNTS AND ADVANCES ............... INDUSTRIAL LOANS. . . . . . . . . . . . . . . . . . . U. S. GOVERNMENT SECURITIES: SYSTEMACCOUNT. . . . . . . . . . . . . . . . . TOTALLOANSAND SECURITIES ............ FEDERAL RESERVE NOTESOF OTHERBANKS. . . . . . . . UNCOLLECTED CASHITEMS ............... BANKPREMISES (NET) .' . . . . . . . . . . . . . . . . OTHERASSETS . . . . . . . . . . . . . . . . . . . . TOTAL ASSETS . . . . . . . . . . . . . . . . $ 881,901,041.46 $ 923,549,785.10 54,349,628.01 49,807,655.00 $ 936,250,669.47 $ 973,357,440.10 27,228,694.79 26,578,804.50 $ 963,479,364.26 $ 999,936,244.60 2,583,500.00 300,000.00 232,489.65 583,884.83 1,391,024,000.00 1,273,684,000.00 $1,393,839,989.65 $1,274,567,884.83 33,771,000.00 21,262,000.00 279,347,803.30 234,021,420.13 3,666,546.37 2,882,290.00 9,959,976.02 7,313,701.39 $2,684,064,679.60 $2,539,983,540.95 LIABILITIES FEDERAL RESERVE NOTESIN ACTUAL CIRCULATION . . . . . . $1,445,055,875.00 $1,382,154,565.00 DEPOSITS : MEMBER BANKRESERVE ACCOUNTS . . . . . . . . . . 895,537,884.04 915,857,708.27 4,030,392.51 34,240,558.11 U. S. TREASURER-GENERAL ACCOUNT. . . . . . . . 22,510,500.00 21,861,000.00 FOREIGN. . . . . . . . . . . . . . . . . . . . OTHERDEPOSITS. . . . . . . . . . . . . . . . . 6,020,107.75 5.587.233.86 TOTALDEPOSITS . . . . . . . . . . . . . . . . $ 957,876,176.01 $ 947,769,208.53 237,236,699.80 168,835,435,.70 DEFERRED AVAILABILITY CASHITEMS. . . . . . . . . . . OTHERLIABILITIES. . . . . . . . . . . . . . . . . . 591,562.66 590,648.75 TOTAL LIABILITIES . . . . . . . . . . . . . . $2,640,760,313.47 $2,499,349,857.98 CAPITAL ACCOUNTS CAPITALPAIDIN . . . . . . . . . . . . . . SURPLUS (SECTION 7) . . . . . . . . . . . . SURPLUS (SECTION13b) . . . . . . . . . . . RESERVES FOR CONTINGENCIES ......... TOTALCAPITALACCOUNTS ........ TOTAL LIABILITIES AND CAPITAL ACCOUNTS .. ..... . . . . . . . . . . ..... ..... ..... 10,407,600.00 $ 9,711,150.00 23,871,396.70 25,803,328.13 762,425.68 762,425.68 6,331,012.32 6,288,710.59 $ 43,304,366.13 $ 40,633,682.97 $2,684,064,679.60 $2,539,983,540.95 $ CONLPARATNE STATEMENT OF EARNINGS AND EXPENSES CURRENTEARNINGS: 1952 DISCOUNTS AND ADVANCES . . . . . . . . . . . . . IRDUSTRIAL LOANS. . . . . . . . . . . . . . . U . S. GOVERNMENT SECURITIEE~YSTEM ACCOUNT. ALL OTHER . . . . . . . . . . . . . . . . . TOTALCURRENTEARNINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CURRENTNET EARNINGS . . . . . . . . . . . . . 495,217.31 $ 130,934.62 9,280.57 25,599,774.20 20,959,997.02 8,301.14 10,927.39 $26,125,771.75 $21,111,139.60 6.362.384.93 5,384,699.83 $19,763,386.82 $15,726,439.77 . . . . . . . . . . . . TOTAL. . . . . . . . . . . . . . . . . . . . $ 22,479.10 CURRENTEXPENSES. NETADDITION TO CURRENT NET EARNINGS . . 1951 204,648.83 NET DEDUCTIONS FROM CURRENT NETEARNINGS . . 0 536.49 84,332.82 $19,967,499.16 $15,642,106.95 OTHERDEDUCTIONS: TRANSFERRED TO RESERVE FOR CONTINGENCIES . . . . . PAIDTO U . S.TREASURY(INTEREST ON OUTSTANDING FEDERAL RESERVE NOTES) . . . . . . . . . . . . TOTAL. ................... $ 42,953.49 $B 48,003.48 17,385,550.11 13,524,303.61 $17,428,503.60 $13,572,307.09 $ 2,538,995.56 9b 2.069.799.86 NET EARNINGS AFTER RESERVES AND PAYMENT TO U. S. TREASURY .. ............... OF NET EARNINGS: DISTRIBUTION PAID. DIVIDENDS ................. TRANSFERRED TO SURPLUS (SECTION 7) . . . . . . . . $ 607,064.13 $ 567,001.11 1,931,931.43 1,502,798.75 $ 2,538,995.56 $ 2,069,799.86 $23,871,396.70 $22,368,597.95 1,931,931.43 1,502,798.75 $25,803,328.13 $23,871,396.70 (SECTION 7) : SURPLUS SURPLUS JANUARY I. ............... TRANSFERRED TO SURPLUS-AS ABOVE. . . . . . . . SURPLUSDECEMBER 31 . . . . . . . . . . . . . . . . Directors and Officers Federal Reserve Bank of Atlanta For the Year 1953 DIRECTORS FRANK H. NEELY,Chairman RUFUSC. HARRIS,Deputy Chuinnun CLASS A Elected by and Representative of Member Banks Term Expires ROLAND L. ADAMS,President, Bank of York, York, Alabama . 1953 W. C. BOWMAN, Chairman of the Board, The First National Bank of Montgomery, Montgomery, Alabama 1954 LESLIER. DRIVER,President, The First National Bank in Bristol, Bristol, Tennessee 1955 . . . . . ... . . .......... .. ............ CLASS B Elected by Member Banks and Representative of Nonbanking Interest8 A. B. FREEMAN, Chairman of the Board, Louisiana Coca-Cola Bottling Co., Ltd., New Orleans, Louisiana J. A. MCCRARY,~ Vice President and Treasurer, J. B. McCrary Company, Inc., Atlanta, Georgia DONALD COMER,Chairman of the Board, Avondale Mills, Birmingham, Alabama . . 1953 . . . . . . 1954 . . . . . . . . . . . . . 1955 CLASS, c Appointed by the Board of Governors of the Federal Reserve System FRANK H. NEELY,Chairman of the Board, Rich’s, Inc., Atlanta, Georgia . PAULE. REINHOLD, President, Foremost Dairies, Inc., Jacksonville, Florida RUFUSC. HARRIS,President, The Tulane University of Louisiana, New Orleans, Louisiana. . . . . . . . . . . . . . . . 1953 . . . . . . . . . . . . . . 1954 . . . . . . . 1955 OFFICERS MALCOLM BRYAN, President; LEWISM. CLARK,First Vice President; V. K. BOWMAN, Vice President; J. E. DENMARK, Vice President; HAROLD T. 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; E. C. RAINEY,Cashier; R. DEWITTADAMS,General Auditor; J. H. BOWDEN, Assistant Vice President; C. R. CAMP,Assistant Vice President; F. H. MARTIN,Assistant Vice President; I. H. MARTIN,Assistant Vice President; J. E. MCCORVEY, Assistant Vice President; ROYE. MILLING,Assistant Vice President; CHARLEST. TAYLOR, Assistant Vice President; R. E. STEPHENSON, Chief Examiner; F. I. BRECK,Assistant Cashier; DOWDELLBROWN,JR., Assistant Counsel. MEMBER OF FEDERAL ADVISORY COUNCIL PAULM. DAVIS, Chairman of the Board First American National Bank of Nashville Nashville, Tennessee INDUSTRIAL ADVISORY COMMITTEE SHANNON M. GAMBLE I. C. MILNER Executive Vice President President Standard-Coosa-Thatcher Company Gate City Mills Company Chattanooga, Tennessee East Point, Georgia LUTHERH. RANDALL JOHNE. SANFORD GEORGEWINSHIP President President President Randall Brothers, Inc. Armour Fertilizer Works, Inc. Fulton Supply Co. Atlanta, Georgia Atlanta, Georgia Atlanta, Georgia 1 Deceased, January 8, 1953. Birmingham Branch DIRECTORS JOHNM. GALLALEE, Chairnun Appointed by the Board of Directors, Federal Reserve Bank of Atlanta Term Expires . . . . . . . . . . . 1953 . . . . . . . . . 1954 . . . . . . . . . . . 1955 . . . . 1955 T. J. COTTINGHAM, President, State National Bank of Decatur, Decatur, Alabama. A. J. GOODWIN,JR., Vice President, The Anniston National Bank, Anniston, Alabama. JOHN B. BARNETT, JR., President, The Monroe County Bank, Monroeville, Alabama FRANK M. MOODY,Vice President, The First National Bank of Tuskaloosa, Tuscaloosa, Alabama. Appointed by the Board of Governors of the Federal Reserve System . . . . . . . . . . . . . 1953 . . . . . . . . . . . . . . . . . . 1954 . . . . . . . . . 1955 M. GALLALEE, President, University of Alabama, Tuscaloosa, Alabama EDWINC. BOTTCHER, Cotton and Dairy Farmer, Cullman, Alabama THADHOLT,President and Treasurer, The Television Corporation, Birmingham, Alabama JOHN OFFICERS JOHN I L. LUES,JR., Vice President and Manager; H. C . FRAZER, Assistant Manager; H. J. URQUHART, Cashier; MELVINMCILWAIN, Assistant Cashier. Jacksonville Branch DIRECTOR§ MARSHALL F. HOWELL,Chizirmun Appointed by the Board of Directors, Federal Reserve Bank of Atlanta Term Expires . . . . . . . . 1953 . . . 1954 . . . . . . 1955 . . . . . . . 1955 CLEMENT B. CHINN,Vice Chairman, The First National Bank of Miami, Miami, Florida. G. W. REESE,President, The Citizens and Peoples National Bank of Pensacola, Pensacola, Florida. FRANK W. NORRIS,President, The Barnett National Bank of Jacksonville, Jacksonville, Florida J. CARLISLE ROGERS, Vice President, The First National Bank of Leesburg, Leesburg, Florida Appointed by the Board of Governors of the Federal Reserve System . . . . . . . . . .1953 MARSHALL F. HOWELL,Vice President, Bond-Howell Lumber Co., Jacksonville, Florida J. HILLISMILLER,President, University of Florida, Gainesville, Florida HARRYSMITH,President, Winter Garden Ornamental Nuraeries, Inc., Winter Garden, Florida . . . . . . . . . . . . . . . 1954 . . . . . . 1955 e OFFICERS T. A. JANFORD,Vice President and Manager; T. C . CLARK,Assistant Manager; J. WYLY SNYDER,Cashier; C. MASONFORD, Assistant Cashier, Nashville Branch DIRECTORS H. C. MEACHAM, Chainnun Appointed by the Board of Directors, Federal Reseme Bank of Atlanta Term Expires . . . . . . . . . . .1953 . . . . . . . . .1954 . . . . .1955 . . . . . . . . . . . . . . . . , . . ,1955 G. C. GRAVES,President, The First National Bank of Athens, Athens, Tennessee. SAMM. FLEWNG, President, Third National Bank in Nashville, Nashville, Tennessee. JAMES V. SPROUSE, President, The First National Bank of Springfield, Springfield, Tennessee. T. R. KEYS, President, Erwin National Bank, E A , Tennessee Appointed by the Board of Governors of the Federal Reserve System . . . . . . . . . . . . . . . . .1953 . . . . . . . , . . . . . . . . .1g54 ERNEST J. MOENCH, President, Tennessee Tufting Company, Nashville, Tennessee . . . . . . . . . . . . 1955 C. E. BREHM,President, University of Tennessee, b o n a e , Tennessee H. c. MEACHAM, Agriculture and Livestock, Franklin, Tennessee . OFFICERS R. E. MOODY,JR., Vice President and Manager; E. R. HARRISON, Assistant Manager; LEO W. ST-, STUART H. MAGEE,Assistant Cashier Cashier; New Orleans Branch DIRECTORS JOEL L. FLETCHER, JR., Chainnun Appointed by the Board of Directors, Federal Reseme Bank of Atlanta Term Expires . . . . . . . . .1953 . . . . . . . , . .1954 . . . . . .1955 . . . . . . . . . . . . .1955 WILLIAMC. CARTER, President, Gulf National Bank of Gulfport, Gulfport, Mississippi. G. M. MCWILLIAMS, President, Citizens Bank of Hattiesburg, Hattiesburg, Mimissippi GEHN W. BERRY,President, Whitney National Bank of New Orleans, New Orleans, Louisiana J. T. BROWN, President, First National Bank of Jackson, Jackson, Mississippi Appointed by the Board of Governors of the Federal Reseme System . , . . . . .1953 . . . . . . . . .1954 . . . . . . . . . . . . . .1955 H.G. CHALKLEY, JR., President, Sweet Lake Land & Oil Co., Inc., Lake Charles, Louisiana . L. FLETCHER, JR., President, Southwestern Louisiana Institute, Lafayette, Louisiana E. 0.BATSON, President, Batson-McGehee Company, Inc., Millard, Mississippi JOEL OFFICERS E. P. PARIS,Vice President and Manuger; M. L SH~W,Assistant Manuger; L. Y. C H A P ~ NAssistant . Cashier. W. H. SEWELL, Cashier;
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