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FEDERAL RESERVE BANK OF DALLAS 1963 T o the Member Banks in the Eleventh Federal Reserve District: The Statement o f Condition and the earnings and expenses o f the Federal Reserve Bank o f Dallas for the year 1963, with comparative figures for 1962, are shown herein. Lists of the directors and officers of the Bank and its branches as of January 1, 1964, are also included. A review o f econom ic and financial developments in the Nation and the District during 1963 is being presented in the January 1964 Annual Report Issue of the Business Review of this Bank. Additional copies of these publications may be obtained upon request to the Research Department, Federal Reserve Bank o f Dallas, 400 South Akard Street (mailing address: Station K, Dallas, Texas 7 5 2 2 2 ). Sincerely yours, W atrous H. I rons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) <Statement o\ Condition Dec. 31 , 1963 Dec. 3 1 , 1962 $ 515,499,705 44,628,041 $ 540,732,347 39,527,686 560,127,746 22,625,000 8,253,420 1,824,000 580,260,033 19.473.000 9,532,888 56,000 158.567.000 270.566.000 678.845.000 177.873.000 99.256.000 535.780.000 435.604.000 168.138.000 1,285,851,000 1,238,778,000 Total loans and s e c u rit ie s ............................. Cash items in process of co lle c tio n ............................. Bank p r e m is e s ....................... ........................................ Other a s s e t s ...................................................................... 1,287,675,000 307,096,327 11,895,354 18,104,531 1,238,834,000 309,128,280 12,579,815 15,897,075 TOTAL A S S E T S .................................................... 2,215,777,378 2,185,705,091 978,952,290 910,744,385 844,299,422 50,523,088 9,120,000 4,255,040 960,203,849 34,752,085 14,560,000 4,009,754 Total d e p o s its .................................................... Deferred availability cash it e m s ................................... Other lia b ilitie s ................................................................ 908,197,550 240,310,825 3,162,013 1,013,525,688 178,701,992 2,537,026 TOTAL LIA B ILITIES.............................................. CAPITAL ACCOUNTS Capital paid i n ................................................................ S u r p l u s ............................................................................ 2,130,622,678 2,105,509,091 28,384,900 5 6 ,7 6 9,800 26.732.000 53.464.000 TOTAL CAPITAL A C C O U N T S ....................... 85,154,700 80,196,000 TOTAL LIABILITIES AND CAPITAL ACCOUNTS $2,215,777,378 $2,185,705,091 ASSETS Gold certificate a c c o u n t ............................................... Redemption fund for Federal Reserve notes . Total gold certificate re s e rv e s ....................... Federal Reserve notes of other B a n k s ....................... Other c a s h ...................................................................... Discounts and a d v a n c e s .............................................. U. S. Government securities B ills ................................................................................. C e r t if ic a t e s ................................................................ N o t e s ........................................................................... Bonds ........................................................................... Total U. S. Government securities . . . . LIABILITIES Federal Reserve notes in actual circulation . . . . Deposits Member ban k— reserve accounts . . . . U. S. Treasurer — general a c c o u n t ....................... Foreign............................................................................ O t h e r ............................................................................ 'Qarningd and Expended 1962 1963 CURRENT EARNINGS Discounts and a d v a n c e s .......................................................... $ U. S. Government se cu ritie s.................................................... Foreign cu rren cies...................................................................... All o th e r....................................................................................... 585,957 45,650,694 116,460 22,852 $ 269,378 42,036,531 196,133 18,072 46,375,963 42,520,114 Current operating e x p e n se s .................................................... Assessment for expenses of Board of Governors . . . . Federal Reserve currency Original cost, including shipping c h a r g e s ........................ Cost of redemption, including shipping charges . . . 9,373,164 434,400 8,933,333 374,700 205,736 36,805 142,635 33,146 T o t a l ............................................................................ Less reimbursement for certain fiscal agency and other e x p e n s e s .............................................. 10,050,105 9,483,814 841,654 936,767 NET E X P E N S E S .......................................................... 9,208,451 8,547,047 Current net e a r n in g s ................................................................ Additions to current net earnings Profit on sales of U. S. Government securities (net) . . . All o t h e r .................................................................................. 37,167,513 33,973,067 11,845 24,089 80,701 129,938 Total a d d it io n s .......................................................... Deductions from current net e a r n in g s ................................... 35,934 24,808 210,639 82,713 Net a d d it io n s ............................................................................ 11,126 127,926 Net earnings before payments to U. S. Treasury . . . . Dividends p a i d ............................................................................ Paid U. S. Treasury (interest on F. R. n o t e s )....................... 37,178,639 1,668,435 32,204,404 34,100,993 1,573,112 Transferred to su rp lu s................................................................ 3,305,800 3,655,100 Surplus, January 1 ...................................................................... 53,464,000 49,808,900 Surplus, December 31 ................................................................ 56,769,800 53,464,000 TOTAL CURRENT E A R N IN G S ................................... CURRENT EXPENSES PROFIT AND LOSS 28,872,781 <zL)irector6 FEDERAL RESERVE BANK OF DALLAS R obert O. A nderson (Chairman and Federal Reserve Agent), Owner, Lincoln County Livestock Company, Roswell, New M exico C arl J. T homsen ( Deputy Chairman), Senior Vice President, Texas Instruments, Inc., Dallas, Texas D. A . HuLCY, Chairman of the Board, Lone Star Gas Company, Dallas, Texas MAX LEVINE, President, Foley’s, Houston, Texas J. EDD M cL aUGHLIN, President, Security State Bank & Trust Company, Ralls, Texas J. B. PERRY, Jr ., President and General Manager, Perry Brothers, Inc., Lufkin, Texas RALPH A . P orter, Executive Vice President, The State National Bank o f Denison, Denison, Texas ROY RiDDEL, President, First National Bank at Lubbock, Lubbock, Texas H. B. ZACHRY, President, H. B. Zachry Company, San Antonio, Texas EL PASO BRANCH ROGER B. C orbett , President, New M exico State University, University Park, New Mexico ROBERT W. H ey ER, President, Southern Arizona Bank & Trust Company, Tucson, Arizona D y SART E. HOLCOMB, Director o f Research, El Paso Natural Gas Products Company, El Paso, Texas JOSEPH F. Irvin , President, Southwest National Bank o f El Paso, El Paso, Texas C. R obert M cN ally , Jr ., Rancher, Roswell, New M exico CHARLES B. P erry, Chairman o f the Board, First State Bank, Odessa, Texas DlCK R ogers, President, First National Bank in Alpine, Alpine, Texas HOUSTON BRANCH DONALD B. C ampbell , Works Manager, Sabine River Works, E. I. du Pont de Nemours Company, Orange, Texas J. A . ELKINS, Jr ., Chairman o f the Board, First City National Bank of Houston, Houston, Texas M. M. GALLOWAY, President, First Capitol Bank, West Columbia, Texas JOHN E. G ray , President, First Security National Bank o f Beaumont, Beaumont, Texas EDGAR H. H udgins, Ranching — Partner in Hudgins Division of J. D. Hudgins, Hungerford, Texas J. W. McLEAN, President, Texas National Bank of Houston, Houston, Texas LOVETT C. P eters, Vice President — Transportation and Supplies, Continental Oil Company, Houston, Texas SAN ANTONIO BRANCH G. C. HAGELSTEIN, President and General Manager, Union Stock Yards San Antonio, San Antonio, Texas HAROLD D. H erndon, Independent Oil Operator, San Antonio, Texas M ax A . M aNDEL, President, The Laredo National Bank, Laredo, Texas FORREST M. Smith , President, National Bank o f Commerce of San Antonio, San Antonio, Texas JOHN R. Stockton , Professor o f Business Statistics and Director of Bureau of Business Research, The University o f Texas, Austin, Texas DWIGHT D. T aylor , President, Pan American State Bank, Brownsville, Texas J. R. THORNTON, Chairman o f the Board and President, State Bank and Trust Company, San Marcos, Texas FEDERAL ADVISORY COUNCIL MEMBER JAMES W. A ston , President, Republic National Bank o f Dallas, Dallas, Texas Officer* FEDERAL RESERVE BANK OF DALLAS W atrous H. Irons , President P. E. C old w ell . First Vice President A rthur H. L ang, General Auditor R oy E. B ohne, Vice President G eorge F. R udy, General Counsel James L. C authen , Vice President R obert H. B oykin , Assistant Counsel and Assistant Secretary o f the Board J. L. C ook, Vice President R alph T. G reen , Vice President J. Z. R owe , D irector o f Research T. A. H ardin, Vice President James O. R ussell, Chief Examiner C arl H. M oore, Vice President L eon W. C ow an , Assistant Vice President G. R. M urff , Vice President and Secretary of the Board E. H. Berg, Assistant Cashier F redric W. R eed, Assistant Cashier James A. P arker, Vice President T. W. Plant , Vice President and Cashier T ony J. Salvaggio, Assistant Cashier W. M. P ritchett , Vice President E. A . T haxton , Jr ., Assistant Cashier E. W. V orlop , Jr ., Assistant Cashier T homas R. Sullivan , Vice President EL PASO BRANCH R oy E. B ohne, Vice President in Charge T. C. A rnold, Cashier F orrest E. C oleman , Assistant Cashier HOUSTON BRANCH J. L. C ook, Vice President in Charge B. J. T roy , Cashier W. C. H artung, Assistant Cashier R asco R. Story , Assistant Cashier SAN ANTONIO BRANCH C arl H. M oore, Vice President in Charge A . E. M undt , Cashier A lvin E. R ussell, Assistant Cashier F rederick J. Schmid , Assistant Cashier business review V i l l i ' January (Annual Report Issue) fe b r u a r y m arch A R T IC L E S IN 1963 Nineteen Hundred and Sixty-two Econom ic Conditions Financial Developments District Developments The President’s Tax Proposals and the Federal Budget Time and Savings Deposit Growth During 1962 The Crude Oil Import Program District Highlights Negotiable Time Certificates o f Deposit Balance-of-Payments Accounting Member Bank Earnings and Expenses in 1962 District Highlights april Contract Drilling in the Southwest District Highlights m ay Cattle Numbers — Still G oing Up? Construction — Drive Carefully! District Highlights ju n e U. S. Balance o f Payments in Transition Eleventh District Trust Department Operations in 1962 District Highlights July Currency Flows: W hy and H ow They Occur Eleventh District Banking Developments District Highlights august S e p tem b er O ctob er The Nation’s E conom y — Growth Through Midyear District Highlights Employment in the Southwest — Still Growing District Highlights The Coin Situation: Review and Appraisal District Highlights novem ber Southwestern Farm Real Estate Developments District Highlights d ecem ber Recent Petroleum Developments Southwestern Agricultural Situation District Highlights
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