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FEDERALRESERVEBANK OF ATLANTA TWENTY-SECOND ANNUAL STATEMENT DECEMBER 31, 1936 f‘ t I FEDERAL RESERVEBANK OF ATLANTA January 30, 1937. To the Stockholders of the Federal Reserve Bank of Atlanta: In order that you may be informed as to the condition of your bank on December 31, 1936, and m y be advised as to its earnings for the past year and the apportionment of those earnings, and may know of the scope of its operations in 1936, the enclosed statement and information has been compiled. Sincerely yours, OSCAR NEWTON; President. t; h Statement of Condition-Decembei RESOURCES GOLDCERTIFICATES ON HAM)AND DUE FROM U. S. TREASURY $21 REDEMPTION FUND-FEDERAL RESERVENOTES OTHERCASH TOTAL RESERVES BILLSDISCOUNTED: SECURED BY U. S. GOVERNMENT OBLIGATIONS, DIRECT 20,000.00 AND/OR FULLY GUARANTEED $ OTHERBILLSDISCOUNTED 10,500.00 DISCOUNTED . . . . . . . . . . . . . . $ 30,500.00 TOTALBILLS BILLSBOUGHTIN OPENMARKET. . . . . . . . . . . . . 107,929.72 INDUSTRIAL ADVANCES. . . . . . . . . . . . . . . . 400,233.12 U. S. GOVERNMENT SECURITIES: BONDS. . . . . . . . . . . . . . . . . . . . . . 20,025,000.00 TREASURY NOTES . . . . . . . . . . . . . . . . . . 54,731,000.00 TREASURY BILLS . . . . . . . . . . . . . . . . . . 24,432,000.00 TOTALU. S. GOVERNMENT SECURITIES $ 99,188,000.00 $ 99,726,662.84 TOTALBILLS AND SECURITIES. 7,712.14 DUE FROM FOREIGN BANKS. . . . . . . . . . . . . . . 3,564,200.00 F. R. NOTESOF OTHERF. R. BANKS . . . . . . . . . . . UNCOLLECTED ITEMS ................. 27,364,174.22 BANKPREMISES ................... 2,236,844.04 ALL OTHER RESOURCES ................ 1,191,113.47 $400,687,055.37 TOTAL RESOURCES .................. ....... .................... .................. 4 *i” ............ .............. ......... ............ e ............ i r * i , ? F. R. NOTESIN ACTUALCIRCULATION .. I i I 4- Y.:’ LIABILITIES ......... DEPOSITS : MEMBERBANKS-RESERVEACCOUNT. . . . . . . . . . $158,750,012.59 GOVERNMENT. . . . . . . . . . . . . . . . . . . 4,564,719.32 FOREIGN BANKS . . . . . . . . . . . . . . . . . . 3,465,559.33 OTHERDEPOSITS. . . . . . . . . . . . . . . . . . 4,367,623.16 TOTALDEPOSITS . . . . . . . . . . . . . . . . . DEFERRED AVAILABILITY ITEMS. . . . . . . . . . . . . CAPITALPAIDIN . . . . . . . . . . . . . . . . . . . SURPLUS (SECTION 7) . . . . . . . . . . . . . . . . . SURPLUS (SECTION 13b) . . . . . . . . . . . . . . . RESERVE FOR CONTINGENCIES .............. ALL OTHERLLABILITIES ................ TOTAL LIABILITIES . . . . . . . . . . . . COMMITMENTS TO MAKEINDUSTRIAL ADVANCES ....... $189,101,130.00 $171,147,914.40 27,116,168.14 4,272,150.00 5,615,773.64 754,301.92 Earnings and Expenses During 1936 EARNINGS CURRENTEARNINGS: DISCOUNTED BILLS . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,779.73 PURCHASED BILLS . . . . . . . . . . . . . . . . . . . . . . . . . . 1,036.72 U . S. GOVERNMENT SECURITIES .................... 1,442,584.94 INDUSTRIAL ADVANCES. . . . . . . . . . . . . . . . . . . . . . . . 42,368.07 1,625.41 COMMITMENTS TO MAKEINDUSTRIAL ADVANCES. . . . . . . . . . . . . . ALL OTHER. . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,725.59 CURRENT EARNXNGS . . . . . . . . . . . . . . . . . . . $1,524,120.46 TOTAL EXPENSES CURRENTEXPENSES: TOTAL OPERATINGEXPENSES . . . . . . . . . . . . . . . . . . . $1,763,232.29 LESSREIMBURSEMENTS FOR CERTAINFISCAL AGENCYAND OTHEREXPENSES . . . . 636,303.80 NET OPERATING EXPENSES. . . . . . . . . . . . . . . . . . . $1,126,928.49 ASSESSMENT FOR EXPENSES OF BOARD OF GOVERNORS ............. 58,864.43 FEDERAL RESERVE CURRENCY: ORIGINALCOST . . . . . . . . . . . . . . . . . . . . . . . . . . . 119,591.19 COSTOF REDEMPTION ........................ 12,879.57 TOTALCURRENTEXPENSES . . . . . . . . . . . . . . . . . . . $1,318,263.68 PROFIT AND LOSS ACCOUNT CURRENTEARNINGS. . . . . . . . . . . . . . . . . . . . . . . . . . CURRENTEXPENSES .......................... CURRENTNET EARNINGS .................... ADDITIONSTO CURRENT NET EARNINGS: ON SALES OF U . S. GOVERNMENT SECURITIES ........... PROFITS ALL OTHER . . . . . . . . . . . . . . . . . . . . . . . . . . . . TOTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,524,120.46 1,318,263.68 $ 205,856.78 . $ 239,772.91 22,975.68 $ 262,748.59 DEDUCTIONS FROM CURRENT NET EARNINGS : RESERVE FOR CONTINGENCIES ..................... CONTRIBUTIONS TO RETIREMENT SYSTEM ........... PRIORSERVICE ASSESSMENT FOR BUILDING FOR BOARD OF GOVERNORS ........... ALL OTHER . . . . . . . . . . . . . . . . . . . . . . . . . . . . TOTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . NET ADDITIONS TO CURRENT NET EARNINGS. . . . . . . . . . . . . . . . . NET EARNINGS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,315.62 93,840.00 70,351.54 10,836.35 $ 214,343.51 $ 48,405.08 $ 254,261.86 DIVIDENDS PAID . $ 254,261.86 .......................... $ Volume of Business Transacted By the Various Departments of the Federal Reserve Bank of Atlanta During the Year 1936 Amount Number BILLS DISCOUNTED .............. INDUSTRIAL ADVANCES. . . . . . . . . . . . CURRENCY RECEIVED AND COUNTED. . . . . . . COIN RECEIVED AND COUNTED. . . . . . . . . . .... 119 12 .... . . . . 116,912,676 . . . . 65,935,439 CHECKSHANDLED: (a) ALL CHECKS-E~CEPT GOVERNMENT. ....... U. S. GOVERNMENT CHECKS . . . . . . . . . . . $ 2,223,124~59 41,070.80 415,591,822.00 7,843,797.00 31,352,917 9,598,754,000.00 13,334,249 1,088,355,966.42 ....... ....... 214,516 278,608 220,012,882.83 7,427,076.39 ......... TRANSFERS OF FUNDS. . . . . . . . . . . . . . . . . 261,681 2,421,820.89 50,806 2,361,558,223.78 2,186,035 205,503,100.00 14,463 7,870 32,981,802.75 63,038,050.00 4,419 7,627,400.00 8,329 7,826,885.00 3,350 2,896,575.00 (b) COLLECTION ITEMS HANDLED : (a) NOTES, DRAFTSAND OTHERITEMS. . (b) U. S. GOVERNMENT COUPONSPAID. . (c) COUPONS PAIDFROM ISSUES OF OTHER U. S. GOVERNMENT AGENCIES. GOVERNMENT ISSUES: UNITED STATES (a) NEWISSUES. . . . . . . . . (b) ......... REDEMPTIONS ................. .................. (c) EXCHANGES OTHERISSUES-(GOVERNMENT INSTRUMENTALITIES) : (a) NEWISSUES. . . . . . . . . . . . . . . . .. ................. (b) REDEMPTIONS .................. (c) EXCHANGES FEDERAL RESERVE NOTE CIRCULATION AVERAGE. . . . . . . . . . . . . . . . . .$171,577,800 MAXIMUM. . . . . . . . . . . . . . . . . $195,497,130 MINIMUM . . . . . . . . . . . . . . . . . .$150,301,245 Directors and Officers Federal Reserve Bank of Atlanta Main Office--Branches-Agencies DIRECTORS T m W. H. KETTIG,Deputy Chairman Expires CLASS A W. D. COOK,Executive Vice-president, First National Bank in Meridian, Mississippi J. WHITE,President, First National Bank, Mount Dora, Florida GEORGE R. G. CLAY,President, Fulton National Bank, Atlanta, Georgia . . . . . . . . . .1937 . . . . . . . . . . . . . . . . 1938 . . . . . . . . . . . . . . . . . . . 1939 CLASS B FITZGERAL~ HALL,President, Nashville, Chattanooga & St. Louis Railway, Nashville, Tennessee . . . . ERNFST T. GEORGE, Chairman and President, Seaboard Refining Company, Ltd., New Orleans, Louisiana J. A. MCCRARY, Vice-president and Treasurer, J. B. McCrary Company, Inc., Decatur, Georgia . . . . . .1937 . .1939 . . 1938 1 CLASS c W. H. KETTIG, Birmingham, Alabama FRANK H.NEEZY,General Manager-Secretary, Rich’s, Inc., Atlanta, Georgia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1937 . . . . . . . . . . . . . . 1938 ............................................. .I939 OFFICERS OSCARNEWTON, President ROBERTS. PARKER, First Vice-president and General Counsel H. F. CONNIFF,Vice-president L. M. CLARK,Vice-president and Secretary W. S. MCLARIN, JR., Vice-president and Cashier V. K. BOWMAN, Assistant Cashier C. R. CAMP,Assistant Cashier S. P. SCHUESSLER, Assistant Cashier E. P. PARIS, General Auditor MEMBER OF FEDERAL ADVISORY COUNCIL EDWARD BALL Vice-president, Almours Securities, Inc. Jacksonville, Florida INDUSTRIAL ADVISORY COMMITTEE E. SANFORD, Chairmen President and Chairman Armour Fertilizer Works Atlanta, Georgia JOHN A. R. FORSYTH, Vice-Chairman Vice-president and Treasurer Gulf States Steel Company Birmingham, Alabama 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 e& New Orleans Branch DIRECTORS ERNESTT. GEORGE, Chairman Chairman and President Seaboard Refining Company, Ltd. New Orleans, Louisiana HERBERT HOLM= Active Vice-president Delta National Bank Yazoo City, Mississippi R. S. HECHT Chairman of the Board Hibernia National Bank in New Orleans, Louisiana E. E. SOULIER Executive Vice-president and Cashier First National Bank of LaFayette LaFayette, Louisiana MARCUS WALKER,Managing Director OFFICERS MARCUS WALKER, Managing Director W. H. BLACK,Cashier F. C. VASTWLING, Assistant Cashier Birmingham Branch DIRECTORS F. M. MOODY JOHN G. FARLEY President, First National Bank Tuscaloosa, Alabama Real Estate Investments Birmingham, Alabama JOHNC. PERSONS President, First National Bank of Birmingham Birmingham, Alabama P. L. T. BEAVERS,Managing Director OFF1CERS P. L. T. BEAVERS, Managing Director H. J. URQUHART, Cushier Jacksonville Branch DIRECTORS BAYLESSW. HAYNES,Chairman President, Wilson & Toomer Fertilizer Company Jacksonville, Florida W. R. MCQUAID President, Barnett National Bank Jacksonville, Florida G. G. WARE President, First National Bank Leesburg, Florida J. AVENT GEORGE President, Florida National Bank Jacksonville, Florida G. S. VARDEMAN, JR., Managing Director OFFICERS T. A. LANFORD, Cashier G. S. VARDEMAN, JR., Managing Director Nashville Branch DIRECTORS FITZGERALXI HALL, Chairman President, Nashville, Chattanooga & St. Louis Railway Nashville, Tennessee J. FRANK PORTER President, Tennessee Farm Bureau Federation Columbia, Tennessee C. W. BAILEY President, First National Bank Clarksville, Tennessee F. M. FARRIS President, Third National Bank in Nashville, Tennessee JOEL B. FRANK J. HAFILE President, Cleveland National Bank Cleveland, Tennessee FORT, JR., Managing Director OFFICERS JOELB. FORT,JR., Managing Director E. R. HARRISON, Cashier Savannah Agency J. H. BOWDEN,Manuger JAMES A. GOETHE,Assistant Manager Havana Agency H.C . FRAZER, Manager ROBERTG. MAYO,Acting Assistant Manager
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