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FEDERAL RESERVE OF ATLANTA THIRTY-NINTH ANNUAL ST To the Stockholders o f a e Federal Reserve Bank of Atlantc There is presented herein a comparati the condition of the Federal Reserve iI.-.I as at close of business December 31, 1953, and December 31, 1952, together with a comparative statement of earnings and expenses for the years 1953 and 1952. h0t Sincerely yours, MALCOLMBRYAN, act, 33 2 . / / I R-15:’ / President COMF'ARATIVE STATEMENT OF CONDITION ir December 31,1953 $ 912,262,741.45 58,813,252.65 $ 971,075,994.10 32,527,490.32 $1,003,603,484.42 995,000.00 339,605.12 ASSETS December 31,1952 $ 881,901,041.46 54,349,628.01 $ 936,250,669.47 27,228,694.79 $ 963,479,364.26 2,583,500.00 232,489.65 GOLDCERTIFICATES. . . . . . . . . . . . . . . . . . REDEMPTION FUND FOR FEDERAL RESERVENOTES. . . . . . TOTALGOLDCERTIFICATE RESERVES ......... OTHERCASH. . . . . . . . . . . . . . . . . . . . . TOTALCASH. . . . . . . . . . . . . . . . . . . DISCOUNTS AND ADVANCES. . . . . . . . . . . . . . . INDUSTRIAL LOANS . . . . . . . . . . . . . . . . . . U. S. GOVERNMENT SECURITIES: SYSTEMACCOUNT . . . . . . . . . . . . . . . . 1,294,974,000.00 1,391,024,000.00 TOTALLOANSAND SECURITIES . . . . . . . . . . . . $1,296,308,605.12 $1,393,839,989.65 29,747,750.00 33,771,000.00 FEDERAL RESERVENOTESOF OTHERBANKS. . . . . . . . 324,677,651.89 279,347,803.30 UNCOLLECTED CASHITEMS. . . . . . . . . . . . . . . 3,635,721.41 3,666,546.37 BANKPREMISES (NET) . . . . . . . . . . . . . . . . . 8,677,124.59 9,959,976.02 OTHERASSETS . . . . . . . . . . . . . . . . . . . . TOTAL ASSETS . . . . . . . . . . . . . . . . $2,666,650,337.43 $2,684,064,679.60 J I 1" b I - 1 I ~ LUBILJTIES FEDERAL RESERVENOTESIN ACTUALCIRCULATION . . . . . $1,417,107,185.00 $1,445,055,875.00 DEPOSITS: ACCOUNTS . . . . . . . . . . 890,375,572.57 895,537,884.04 MEMBERBANK RESERVE 19,314,091.60 34,240,558.11 U. S. TREASURER-GENERAL ACCOUNT. . . . . . . . 17,595,600.00 22,510,500.00 FOREIGN. . . . . . . . . . . . . . . . . . . . OTHERDEPOSITS. . . . . . . . . . . . . . . . . 5,679,101.19 5,587,233.86 TOTAL DEPOSITS . . . . . . . . . . . . . . . . $ 932,964,365.36 $ 957,876,176.01 269,537,240.88 237,236,699.80 DEFERRED AVAILABILITY CASHITEMS. . . . . . . . . . . 713,4,48.76 591,562.66 OTHERLIABILITIES . . . . . . . . . . . . . . . . . . TOTAL LIABILITIES . . . . . . . . . . . . . . $2,620,322,240.00 $2,640,760,313.47 CAPITAL ACCOUNTS v I/ CAPITAL PAID I N . . . . . . . . . . . . . . SURPLUS (SECTION7) . . . . . . . . . . . . SURPLUS(SECTION13b) . . . . . . . . . . . RESERVES FOR CONTINGENCIES ......... TOTALCAPITALACCOUNTS. . . . . . . . TOTALLIABILITIESAND CAPITALACCOUNTS. ..... ..... ..... ..... ..... ..... 11,158,250.00 $ 10,407,600.00 28,034,120.17 25,803,328.13 762,425.68 762,425.68 6,373,301.58 6,331,012.32 $ 46,328,097.43 $ 43,304,366.13 $2,666,650,337.43 $2,684,064,679.60 $ /I 1 COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES CURRENT EARNINGS: DISCOUNTS AND ADVANCES ............. INDUSTRIAL LOANSAND COMMITMENTS ........ U. S. GOVERNMENT SECURITIES-SYSTEM ACCOUNT ... ALL OTHER . ........... CURRENT EXPENSES . . . . . . . . . . . . . . . . . . CURRENT NET EARNINGS. . . . . . . . . . . . . ADDITIONTO CURRENT NET EARNINGS. . . . . . . . . . . DEDUCTIONS FROM CURRENT NET EARNINGS. OTHERDEDUCTIONS: TRANSFERREDTORESERVEFORCONTINGENCIES ..... PAID TO U. S. TREASURY (INTEREST ON OUTSTANDING FEDERAL RESERVE NOTES) . . . . . . . . . . . . TOTAL . II 29,348,440.25 25,599,774.20 9,434.56 8,301.14 $30,120,257.72 $26,125,771.75 7,135,307.77 6,362,384.93 $22,984,949.95 $19,763,386.82 113,574.61 204,648.83 95,153.92 536.49 \ $23,003,370.64 $19,967,499.16 \ TRANSFERRED TO SURPLUS (SECTION7) SURPLUS DECEMBER 31 . 42,051.68 $ 42,953.49 17,385,550.11 $20,116,875.50 $17,428,503.60 2,230,792.04 1,931,931.43 $ 2,886,495.14 $ 2,538,995.56 ....... $25,803,328.13 $23,871,396.70 ....... - ........ SURPLUS(SECTION 7) : SURPLUS JANUARY 1 . . . . . . . . . TRANSFERRED TO SURPLUS-AS ABOVE . $ 20,074,823.82 ................... 22,479.10 ....... ................... $ 1952 495,217.31 15,681.16 .................. TOTAL CURRENT EARNINGS. TOTAL . $ 1953 746,701.75 .............. 1 2,230,792.04 1,931,931.43 $28,034,120.17 $25,803,328.13 Directors and Officers Federal Reserve Bank of Atlanta For the Year 1954 DIRECTORS RUFUSC. HARRIS,Chairman PAUL E. REINHOLD, Deputy Chairman CLASS A Elected by and Representative of Member Banks Term Expires . 1954 . . . . . . . . . . . . 1955 . . . . . . . . . . . . . . . . . . . . . . 1956 W. C. BOWMAN, Chairman of the Board, The First National Bank of Montgomery, Montgomery, Alabama. LESLIER. DRIVER, President, The First National Bank in Bristol, Bristol, Tennessee ROLAND L. ADAMS, President, Bank of York, York, Alabama CLASS B Elected by Member Banks and Representative of Nonbanking Interests . . . . . . 1954 . . . . . . . . . . 1955 . . . 1956 POLLARD TURMAN, President, J. M. Tu11 Metal & Supply Company, Inc., Atlanta, Georgia. . . DONALD COMER, Chairman of the Board, Avondale Mills, Birmingham, Alabama . .. A. B. FREEMAN, Chairman of the Board, Louisiana CocaCola Bottling Co., Ltd., New Orleans, Louisiana CLASS c Appointed by the Board of Governors of the Federal Reserve System PAUL E. REINHOLD, Chairman of the Board, Foremost Dairies, Inc., Jacksonville, Florida. RUFUSC. HARRIS,President, The Tulane University of Louisiana, New Orleans, Louisiana HARLLEE BRANCH, JR., President, Georgia Power Company, Atlanta, Georgia . .. .. . . . . . . . . . .1954 . . . . . . . . . 1955 . . . . . . . . . 1956 OFFICERS MALCOLM BRYAN,President; LEWISM. CLARK,First Vice President; V. K. BOWMAN, Vice Presiden.t; J. E. DENVice President; JOHN L. LILES,JR., Vice President and Cashier; 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; R. DEWITTADAMS,General Auditor; C. R. CAMP,Assistant Vice President; F. H. A s s i s t m Vice PresiMARTIN,Assistant Vice President; I. H. MARTIN,Assistant Vice President; J. E. MCCORVEY, dent; ROYE. MILLING, Assistant Vice President; R. M. STEPHENSON, Assistant Vice President; CHARLES T. TAYLOR, Assistant Vice President; F. I. BRECK, Assistant Cashier; DOWDELL BROWN,JR.,Assistant Counsel. MARK, MEMBER OF FEDERAL ADVISORY COUNCIL WALLACE M. DAVIS President The Hibernia National Bank in New Orleans New Orleans, Louisiana INDUSTRIAL,ADVISORY COMMITTEE SHANNON M. GAMBLE I. C. MILNER Executive Vice President President Standard-Coosa-Thatcher Company Gate City Mills Company East Point, Georgia Chattanooga, Tennessee JOHN E. SANFORD GEORGE WINSHIP LUTWER H. RANDALL President President President Armour Fertilizer Works Fulton Supply Company Randall Brothers, Inc. Atlanta, Georgia Atlanta, Georgia Atlanta, Georgia Birmingham Branch DIRECTORS EDWINC. BOTTCHER, Chairman Term Expires Appointed by the Board of Directors, Federal Reserve Bank of Atlanta . . . .1954 . . . . . . . . . . . . 1955 . . . . . .1955 . . . . . . . . . 1956 MALCOLM A. SMITH,First Vice President, Birmingham Trust National Bank, Birmingham, 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 JOHN W ~ GAY, L President, The First National Bank of Scottsboro, Scottsboro, Alabama Appointed by the Board of Governors of the Federal Reserve System . . . . . . . . . . . . . . . . .1954 . . . . . . . . . . . . . . . . . . . . . . . . . .1955 . . . . . . . . . . . . 1956 , , EDWINC. BOTTCKER,Cotton and Dairy Farmer, Cullman, Alabama THAD HOLT,Investments, Birmingham, Alabama , ADOLPHWEIL, SR., President, Weil Brothers-Cotton, Inc., Montgomery, Alabama OFFICERS H. C. FRAZER, Vice President and Manager; E. C. RAINEY,Assistant Manager; H. J. URQUHART, Cashier; MELVIN Assistant Cashier. MCILWAIN, Jacksonville Branch DIRECTORS HARRY M. SMITH,Chairman Term Expires Appointed by the Board of Directors, Federal Reserve Bank of AtIanta . . . . .1954 . . . . . . .1955 . . . . . . . . .1955 . . . . . . . . . . . . . . .1956 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, President, The First National Bank of Leesburg, Leesburg, Florida T. A. DAVIS,JR., President, Pan American Bank of Miami, Miami, Florida. Appointed by the Board of Governors of the Federal Reserve System J. WAYNEREITZ, Provost, College of Agriculture, University of Florida, Gainesville, Florida. . . . . . . .1954 .1955 . . . . . . .1956 HARRY M. SMITE,President and Manager, Winter Garden Ornamental Nursery, Inc., Winter Garden, Florida MCGREGOR SBUTH,President and Director, Florida Power and Light Company, Miami,Florida OFFICERS T. A. LANFORD, Vice President and Manager; T. C.CLARK,Assistant Manager; J. W C. MASONFORD, Assistant Cashier. n Y SNYDER, Ccrshier; Nashville Branch DIRECTORS H. C. MEACHAM, Clrairman TWln Expires Appointed by the Board of Directors, Federal Reserve Bank of Atlanta . . . . . . . . . . .1954 . . . . . . . .1955 T. R. KEYS,President, Erwin National Bank, Erwin, Tennessee . . . . . . . . . . . . . . . . . . . . . 1955 SAMM. FLEMING, President, Third National Bank in Nashville, Nashville, Tennessee JAMES V. SPROUSE, President, The First National Bank of Springfield, Springfield, Tennessee W. E. TOMLINSON, President, The Hamilton National Bank of Johnson City, Johnson City, Tennessee . . . . 1956 Appointed by the Board of Governors of the Federal Reserve System . . . . . . . . . . . . . . . . . . . . 1954 . . . . . . . . . . . .1955 . . 1956 H. C. MEACHAM, Agriculture and Livestock, Franklin, Tennessee ERNEST J. MOENCH,President, Tennessee Tufting Company, Nashville, Tennessee FRANK B. WARD,Dean, College of Business Administration, University of Tennessee, Knoxville, Tennessee OFFICERS R. E. MOODY,JR., Vice President and Manager; E. R. HARRISON,Assistant Manager; LEO W. STARR,Cashier; STUART H. MAGEE,Assistant Cashier. New Orleans Branch DIRECTORS E. 0. BATSON, Chainnun Appointed by the Board of Directors, Federal Reserve Bank of Atlanta Term Expires . . . . . . . . . . . 1954 . . . . . . 1955 . . . . . . . . . . . . . .1955 . . . . . .1956 G. M. MCWILLIAMS, President, Citizens Bank of Hattiesburg, Hattiesburg, Mississippi KEEHNW. BERRY,President, Whitney National Bank of New Orleans, New Orleans, Louisiana J. T. BROWN,President, First National Bank of Jackson, Jackson, Mississippi LEONJ. MINVIELLE, President, The Peoples National Bank of New Iberia, New Iberia, Louisiana Appointed by the Board of Governors of the Federal Reserve System . . . . . . . . .1954 . . . . . . . . . . . . .1955 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1956 JOEL L. FLETCHER, JR., President, Southwestern Louisiana Institute, Lafayette, Louisiana E. 0. BATSON,President, Batson-McGehee Company, Inc., Millard, Mississippi E. E. WILD, Rice Planter, Midland, Louisiana OFlFlCERS M. L. SHAW,Vice President and Manager; W. H. SEWELL, Assistant Manuger; L. Y. CHAPMAN, Cashier; RENEJUNCA, Assistant Cashier.
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