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FEDERAL
RESERVE
BANK
OF ATLANTA

TWENTY-NINTH ANNUAL STATEMENT

January 15,1944.
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, as at close
of business December 31, 1943,together with statement
of earnings and expenses for the year.




Sincerely yours,
W. S. McLARIN,

JR.,

President.

Statement of Condition-December

3 . 1943
1

ASSETS
GOLDCERTIFICATES HAND
ON
AND DUE FROM
U . S. TREASURY . . . . . . . . . . . . . . . . . $890,197,801.59
.
REDEMPTION
FUND-FEDERAL RESERVE
NOTES. . . . . . . 18,974,426.95
OTHERCASH . . . . . . . . . . . . . . . . . . . . . 23,141,481.42
TOTAL
RESERVES. . . . . . . . . . . . . . . . . .
INDUSTRIAL
ADVANCES . . . . . . . . . . . . . . . . $ 220,509.00
.
U . S GOVERNMENT
SECURITIES.
DIRECTAND GUARANTEED:
118,737,000.00
BONDS . . . . . . . . . . . . . . . . . . . . . .
NOTES . . . . . . . . . . . . . . . . . . . . . .
49,397,000.00
TREASURY
CERTIFICATES INDEBTEDNESS. . . . . . 179,785,000.00
OF
..
BILLS . . . . . . . . . . . . . . . . . . . . . .
249,956,000.00
TOTALU . S. GOVERNMENT
SECURITIES.
DIRECTAND GUARANTEED . . . . . . . . . . . . . $597,875,000.00
.
TOTAL
BILLSAND SECURITIES. . . . . . . . . . . .
.
DUEFROM FOREIGN
BANKS . . . . . . . . . . . . . . .
FEDERAL
RESERVE
NOTESOF OTHER BANKS . . . . . . . .
UNCOLLECTED
ITEMS . . . . . . . . . . . . . . . . .
BANKPREMISES . . . . . . . . . . . . . . . . . .
.
OTHERASSETS . . . . . . . . . . . . . . . . . . . .
TOTAL ASSETS . . . . . . . . . . . . . . .

$ 932,313,709.96

.

598,095,509.00
4,753.81
8,932,250.00
113,336,796.50
1,653,476.68
3,893,286.13
$1,658,229,782.08

LIABILITIES
FEDERAL
RESERVE
NOTESIN ACTUAL
CIRCULATION . . . .
.
DEPOSITS
:
MEMBER
BANK-RESERVEACCOUNT. . . . . . . . . . $535,969,218.53
U . S. TREASURER-GENERAL
ACCOUNT. . . . . . . . . 10,305,052.45
FOREIGN . . . . . . . . . . . . . . . . . . . .
.
44,310,990.78
OTHERDEPOSITS . . . . . . . . . . . . . . . . . .
6,591,639.84
TOTAL
DEPOSITS . . . . . . . . . . . . . . . . .
DEFERRED
AVAILABILITY
ITEMS . . . . . . . . . . . . .
OTHERLIABILITIES . . . . . . . . . . . . . . . . . .
TOTAL LIABILITIES . . . . . . . . . . . . .

$ 954,983,505.00

$ 597,176,901.60

89,895,851.35
207,670.13
$1,642,263,928.08

CAPITAL ACCOUNTS
CAPITAL
PAID . . . . . . . . . . . . . . . .
IN
SURPLUS
(SECTION . . . . . . . . . . . . .
7)
SURPLUS
(SECTION
13b) . . . . . . . . . . . .
OTHERCAPITAL
ACCOUNTS . . . . . . . . . . .
.
TOTAL
LIABILITIESAND CAPITALACCOUNTS. . . .




...
...
...
...
...

$

5,453,200.00
5,724,628.32
748,470.57
4,039,555.11
$1,658,229,782.08

Statement of Earnings and Expenses for Year 1943
EARNINGS.

. . . . . . . . . . . . . . . . . .
OPERATING
EXPENSES . . . . . . . . . . . . .
.

$3,374,416.58
$1,820,783.59

ASSESSMENT BOARD GOVERNORS
FOR
OF
.

. . . . . . $ 84,335.35

COSTOF FEDERAL
RESERVE
CURRENCY .
.

436,599.37

. . . . . .
TOTAL EXPENSES. . . . . . . . . . . .
NET
.
CURRENT EARNINGS . . . . . . . . . .
NET
..

520,934.72
$2,341,718.31
$1,032,698.27

ADDITIONS CURRENT EARNINGS
TO
NET
:
PROFIT SALES U. S. GOVERNMENT
ON
OF
SECURITIES
.
TRANSFERRED RESERVES.
FROM

. . . . . . . . .
OTHER ADDITIONS. . . . . . . . . . . . . . .
ADDITIONS. . . . . . . . . . . . . .
TOTAL

$1,537,926.38
37,500.00
12,101.81
$1,587,528.19

TOTAL
CURRENT
NET EARNINGS ADDITIONS CURRENT EARNINGS $2,620,226.46
AND
TO
NET

DEDUCTIONS CURRENT EARNINGS
FROM
NET
:
RETIREMENTY T M (INTEREST BASE AND
S SE
INCREASED
BENEFITS
ADJUSTMENT)
.

. . . . . .

$ 470,506.64

. . . . . . . . . . . . .
TOTAL
DEDUCTIONS . . . . . . . . . . . .
.
NET EARNINGS. . . . . . . . . . . . . . .
.

311.28

OTHER DEDUCTIONS
.

$ 470,817.92

$2,149,408.54

DISTRIBUTION NET EARNINGS:
OF
DIVIDENDS
PAID .

...............

...
.....

$ 319,356.28

PAID
UNITED
STATES
TREASURY
(SECTION
13b)

15,138.69

TRANSFERRED
TO SURPLUS
(SECTION
13b)

31,369.14

TRANSFERRED
TO RESERVES
FOR CONTINGENCIES .
.

.

1.783.544.43
$2,149,408.54

I’



Directors and Officers
Federal Reserve Bank of Atlanta
Main Office--Branches-Agency

For Year 1944
DIRECTORS
FRANK NEELY,Chairman
H.

J. F. PORTER,
Deputy Chairman
CLASS A
GEORGE WHITE,President, The First National Bank of Mount Dora, Mt. Dora, Florida
J.
THOMAS GLENN,
K.
Chairman of the Board, Trust Company of Georgia, Atlanta, Georgia
W. D. COOK,President, First National Bank in Meridian, Meridian, Mississippi . . . .

Term
Expires

. . . . . . . . 1944
. . . . . . . 194
. . . . . . . . 1946

CUSS B
ERNEST GEORGE,
T.
President, Seaboard Refining Company, Ltd., New Orleans, Louisiana
.
J. A. MCCRARY, President and Treasurer, J. B. McCrary Company, Inc., Decatur, Georgia
Vice
FITZGERALD President, Nashville, Chattanooga & St. Louis Railway, Nashville, Tennessee.
HALL,

. . . . . . . 1944
. . . . . . 1945
. . . . 1946

CLASS c
FRANK NEELY,
H.
Executive Vice President and Secretary, Rich's, Inc., Atlanta, Georgia .
J. F. PORTER,
President, Tennessee Farm Bureau Federation, Columbia, Tennessee . . . .
RUFUS HARRIS,
C.
President, The Tulane University of Louisiana, New Orleans, Louisiana .

. ... .
. ....
... ..

. . 1944
. . 1945
. . 1946

OFFICERS
W. S. MCLARIN, President
JR.,
S. P. SCHUESSLER,
Assistant Vice President
MALCOLM BRYAN,
H.
First Vice President
L. M. CLARK,
Vice President
J. R. MCCRAVEY, Assistant Vice President
JR.,
*J. E. DENMARK,
General Auditor
1 F. CONNIFF,
%
Vice President
W. E. PIKE,
Acting General Auditor
V. K. BOWMAN,
Assistant Vice President
POLLARD
TURMAN,
Counsel
C. R. CAMP,Assistant Vice President

MEMBER OF FEDERAL ADVISORY COUNCIL
KEEHN BERRY
W.
President
Whitney National Bank of New Orleans
New Orleans, Louisiana

INDUSTRIAL ADVISO.RY COMMITTEE
JOHN

E. SANFORD,
Chairman
Vice President
Armour & Company
Atlanta, Georgia

GEORGE
WINSHIP
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-Handley Hardware Company
.
Birmingham, Alabama

* ON LEAVE-MILITARY SERVICE

New Orleans Branch
DIRECTORS

ALEXANDER
FITZ-HUGH,
President, P. P. Williams Company, Vicksburg, Mississippi

Term
Expires
. . 194
. . 1945

President, The First National Bank of Jefferson Parish at Gretna, Gretna, Louisiana
T. G. NICHOLSON,

. . 1945

ALEXANDER
FITZ-HUGH,
Chairmun

........
JOHN SHAFFER, Sugar Cane Planter, Ellendale, Louisiana . . . . . . . . . . . . . . . .
J.
JR.,
E. F. BILLINGTON, President, Soule Steam Feed Works, Meridian, Mississippi . . . . . . . . . . . 19%
Vice
J. F. MCRAE,President, The Merchants National Bank of Mobile, Mobile, Alabama . . . . . . . . . . 1 9 4
JOHN

. . . . . . 1946
................................
1944

t

liB

LEGIER,President, National American Bank of New Orleans, New Orleans, Louisiana

Managing Director
E. P. PARIS,

-.

OFFICERS
E. P. PARIS,
Managing Director

M. L. SHAW,
Cashier
L

F. C. VASTERLING,
Assistant Cashier
W. H. SEWELL,
Assistant Cashier

Birmingham Branch

r

DIRECTORS
DONALD
COMER,
Chairman

Term
Ezpwes

. . . . . . . . . . . . 1944
EDWARD NORTON,
L.
Executive Vice President, Munger Realty Company, Birmingham, Alabama . . . . . 1 9 G
GORDON PALMER,
D.
President, The First National Bank of Tuskaloosa, Tuacaloosa, Alabama . . . . . . 19M

I

DONALD
COMER,
Chairman of the Board, Avondale Mills, Birmingham, Alabama

President, The First National Bank of Huntsville, Huntsville, Alabama
M. B. SPRAGINS,
JAMES

. . . . . . . . .196

G. HALL,Executive Vice President, The First National Bank of Birmingham, Birmingham, Alabama 1946

P. L. T. BEAVERS,
Managing Director

.............................

OFFICERS
P. L. T. BEAVERS,
Managing Director
H. J. URQUHART,
Cashier
*L.W. STARR,
Assistant Cashier




* ON LEAVE-MILITARY SERVICE

c

.19M

i

Jacksonville Branch
DIRECTORS
TfTln
Expires

WALTER MATHERLY,
J.
Chainnmt

. . . . . . . . . . . . . . . 1944
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1945
FRANK JACKSON, President, Jackson Grain Company, Tampa, Florida . . . . . . . . . . . . . . .1946
D.
J. L. DART,President, The Florida National Bank of Jacksonville, Jacksonville, Florida . . . . . . . .1944
BERT TEED,Executive First Vice President, First National Bank in Palm Beach, Palm Beach, Florida . . 1945
C.
WALTER MATHERLY,
J.
Dean, University of Florida, Gainesville, Florida

CHARLES LEE, Planter, Oviedo, Florida.
S.

J. C. MCCROCKLIN.
President, First National Bank in Tarpon Springs, Tarpon Springs, Florida
G. S. VARDEMAN, Managing Director . . . . . . . . . . . . . . . . . . . . . . . . .
JR.,

. . . . . . 1946
....

1944

OFFICERS
T. A. LANFORD,
Cashier
G. S. VARDEMAN, Managing Director
JR.,
T. C. CLARK,
Assistant Cashier

Nashville Branch
DIRECTORS
CLYDE AUSTIN,Chuinnan
B.

Term
Expires

. . . . . . . . . . . 194
W. E. MCEWEN,
Director, County Farm Bureau, Williamsport, Tennessee . . . . . . . . . . . . . . 196
B. L. SADLER,
President, First National Bank in Harriman, Harriman, Tennessee . . . . . . . . . . . 1944
EDWARD
POTTER, President, Commerce Union Bank, Nashville, Tennessee . . . . . . . . . . . . . 1945
JR.,
LESLIE DRIVER,
R.
President, The First National Bank in Bristol, Bristol, Tennessee . . . . . . . . . . .1946
194
JOEL B. FORT,
JR., Managing Director. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CLYDE AUSTIN,
B.
President, The Austin Company, Inc., Greeneville, Tennessee

OFFICERS
JOEL

B. FORT, Managing Director
JR.,

E. R. HARRISON,
Cashier

Savannah Agency
*J. H. BOWDEN,
Manager

1
I



E. M. LOONEY,
Acting Manuger

* ON LEAVE-MILITARY
SERVICE


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102