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A N N U A L STATEM ENT, 1964 FE D E R A L R ESER VE BANK O F S A N FR A N C IS C O J A N U A R Y 6, 1965 To the Member Banks of the Twelfth Federal Reserve District. D ear Sir s : There is presented herewith a condensed comparative statement of condition of the Federal Reserve Bank of San Francisco, including branches, at the close of business December 31,1964, and December 31,1963, together with a comparison of earnings and expenses for 1964 and 1963. Yours very truly, President. COMPARATIVE STATEMENT OF CONDITION ASSETS Dec. 31,1964 Gold certificates..............................................................................................................$1,946,389,254.89 Redemption fund for Federal Reserve notes - - - - - 181,517,879.57 Total gold certificate reserves - - - - - - $2,127,907,134.46 Federal Reserve notes of other Federal Reserve banks - - - - - 65,054,330.00 Other c a s h ...................................................................................................................... 21,158,583.39 Discounts and advances: Secured by United States Government obligations - - - - - Other discounts and advances - - - - - - Total discounts and advances —0— 12,520,000.00 12,520,000.00 Dec. 31,1963 $1,671,083,511.70 153,643,754.57 $1,824,727,266.27 51,364,785.00 29,760,058.94 $ 300,000.00 4,256,000.00 4,556,000.00 United States Government securities: B i l l s .............................................................................................................................. 791,799,000.00 C e r tific a te s .......................................................................- - - - —0— N o tes.............................................................................................................................. 3,299,616,000.00 Bonds.............................................................................................................................. 690,970,000.00 Total United States Government securities - - - - - - $4,782,385,000.00 Total loans and securities - - - - - - - - - - - $4,794,905,000.00 540,426,000.00 922,094,000.00 2,313,516,000.00 606,193,000.00 $4,382,229,000.00 $4,386,785,000.00 Cash items in process of collection........................................887,037,176.87 Bank p r e m is e s .............................................................................................. 9,753,076.00 Other a s s e t s ...................................................................................................................... 72,964,757.47 Total a s s e t s ...................................................................................................... $7,978,780,058.19 779,501,980.79 10,176,322.41 52,363,491.55 $7,134,678,904.96 LIABILITIES Federal Reserve notes - - $3,962,978,508.00 $3,590,043,130.00 Deposits: Member bank — reserve accounts - - - - - - 3,021,446,480.05 United States Treasurer — general account - - - - - - 59,932,462.23 F o r e ig n ...................................................................................................................... 29,480,000.00 Other d e p o s i t s ...................................................................................................... 67,840,063.49 Total d e p o s i t s ...............................................................................................$3,178,699,005.77 2,649,410,635.40 79,995,872.81 21,280,000.00 45,150,628.43 $2,795,837,136.64 Deferred availability cash i t e m s ............................................................................... 612,464,684.49 Other lia b ilitie s .............................................................................................................. 84,346,359.93 Total liabilities...................................................................................................... $7,838,488,558.19 539,953,183.98 10,366,804.34 $6,936,200,254.96 CAPITAL ACCOUNTS Capital paid i n ..............................................................................................................$ 70,145,750.00 S u r p lu s .............................................................................................................................. 70,145,750.00 Total liabilities and capital accounts - - - - - $7,978,780,058.19 $ 66,159,550.00 132,319,100.00 $7,134,678,904.96 Contingent liability on acceptances purchased for foreign correspondents - - $ 16,455,200.00 $ 12,222,700.00 - - - - - - - - - - - FEDERAL RESERVE BANK OF SAN FRANCISCO EARNINGS AND EXPENSES CURRENT EARNINGS 1964 ............................... ............................................. Discounts and advances United States Government se c u r itie s............................... ....... Foreign c u r r e n c ie s ..................................................................... All other.......................................................................................................................... $ 949,974.85 177,004,595.15 853,092.47 38,355.51 Total current e a r n i n g s ............................................................................ $178,846,017.98 1963 $ 602,553.93 147,949,251.54 271,769.65 33,294.15 $148,856,869.27 CURRENT EXPENSES Total current expenses - - - - - - - - - - Less Reimbursement for certain fiscal agency and other expenses - - Net expenses...............................................- - - - - - $ 23,427,399.82 2,046,668.41 $ 21,398,008.96 $ 21,380,731.41 $157,448,009.02 - $ 23,454,497.64 2,056,488.68 $127,476,137.86 83,021.71 33,375.22 39,628.50 69,228.81 PROFIT AND LOSS Current net earnings...............................................Additions to current net earnings: Profits on sales of United States Government securities (net) . . . A llo th e r ................................................................................................................... Total a d d it io n s ............................................................................................$ Deductions from current net earnings - - - - - - - - - - 116,396.93 $ 108,857.31 $ $ 16,213.11 8,066.19 Net additions...................................................................................................................$ 108,330.74 Net earnings before payments to United States Treasury - - - - Dividends paid - - - - - - - - - - - Payments to United States Treasury (interest on Federal Reserve notes) - $157,556,339.76 4,110,355.78 215,619,333.98 $127,568,782.06 3,846,063.12 115,212,118.94 Transferred to Surplus Surplus January 1 $-62,173,350.00 132,319,100.00 $ 8,510,600.00 123,808,500.00 Surplus December 31 - $ 70,145,750.00 $132,319,100.00 $92,644.20 DIRECTORS AND OFFICERS December 31,1964 DIRECTORS F. B . W h it m a n , S an F rancisco , C alifo rn ia , C h a irm an an d F e d e ra l R eserve A g e n t J o h n D . F red er ic k s , L os A ngeles, C alifo rn ia, D eputy C h a irm an M . V ila s H ubbard , P a sa d e n a , C a lifo rn ia C arroll F . B yrd , W illow s, C alifo rn ia W a lter S. J o h n so n , S an F ra n c isc o , C a lifo rn ia C h a r l e s F . F r a n k l a n d , S ea ttle, W ash in g to n F red H . M err ill , S a n F ra n c isc o , C a lifo rn ia F red eric S. H ir s c h l e r , S an F rancisco , C alifo rn ia J o s e p h R o sen bla tt , S a lt L ak e C ity, U ta h MEMBER OF FEDERAL ADVISORY COUNCIL R an so m M. C ook, San Francisco, California OFFICERS E lio t J. S w a n , P re sid e n t H. E . H em m ing s, F ir s t V ice P re sid e n t J. L. B a r b o n c h ie lli, V ice P re sid e n t E . R . B a rg le b a u g h , V ice P re sid e n t, an d M a n a g e r o f S e a ttle B ra n c h W . M. B ro w n , V ice P re sid en t, an d M a n a g e r of P o rtla n d B ra n c h P . W . C a v a n , V ice P re sid e n t D. M. D avenport , V ice P re sid e n t E . H . G a l v in , V ice P re sid e n t D avid L . G rove , V ice P re sid e n t A . B. M e r r itt , V ice P re sid e n t A . L. P rice , Vice P re sid en t, an d M a n a g e r o f S a lt L ak e C ity B ra n c h C. H . W a tk in s , V ice P re sid en t, a n d M a n a g e r o f Los A ngeles B ra n c h E . J. M a r te n s , C ash ier R ix M aurer , J r ., A ss is ta n t V ice P re sid e n t D. V . M a s te n , Assistant Cashier T. W . B a r r e t t , Assistant Cashier R . G. R e t a l l i c k , Assistant Cashier E . E . B e r n s te in , Assistant Cashier E. A. W e lls , Assistant Cashier E . E . L iv in g s to n , Assistant Cashier J. B. W illia m s , Assistant Cashier G a u lt W . L y n n , Director of Research G. D. H a r t l i n , General Auditor W illia m M. B u rk e , Senior Economist R . E. M c K e n d ry , Assistant General Auditor H. B. J a m is o n , Chief Examiner W a l t e r F . S c o tt, General Counsel C. H. W h itw o r th , Administrative Assistant W illia m L . C oo p er, Assistant General Counsel LOS ANGELES BRANCH SALT LAKE CITY BRANCH S. A lf r e d H a lg r e n , C h airm an H o w a rd W . P ric e , Chairman A la n B. B lo o d T h o m a s B . R o w la n d R eed E. H o l t V. R. S te f f e n s e n DIRECTORS R a lp h V. A r n o ld R oy A . B r it t OFFICERS A r t h u r G. C oons D ouglas S h ively C. H . W a tk i n s , Vice President, and Manager D . M. D a v e n p o rt, Vice President W . E. C a r te r , Assistant Manager M. A. J o n e s , Assistant Manager G. R . K e l ly , Assistant Manager G. D . P a r k e r , Assistant Manager J . R . R o b in so n , Assistant Manager PORTLAND BRANCH DIRECTORS D. S. B a k e r E . M. F l o h r G r a h a m J . B arbey , C hairm an E . J . K olar R aymond R. R eter OFFICERS W . M. B ro w n , Vice President, and Manager W . G. D e V rie s, Assistant Vice President F. K . G rim m , Assistant Manager F. R . S k in n e r , Assistant Manager DIRECTORS OFFICERS A. L. P ric e , Vice President, and Manager T. M. S im m o ns, Assistant Vice President R . C. D u n n , Assistant Manager A. G. H o lm a n , Assistant Manager SEATTLE BRANCH DIRECTORS R obert D. O b r i e n , C h a irm an M ax w ell C a rlso n W il l ia m M c G regor M. F. H a s tin g s C h a s. H . P a r k s OFFICERS E . R. B a rg le b a u g h , Vice President, and Manager W . R. S a n d s tro m , Assistant Vice President R. P. G la sc o c k , Assistant Manager A. C. L a iti, Assistant Manager
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