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FEDERAL RESERVE BANK
OF NEW YORK

'Circular No. 173CM
. January 29, 1937 J

Twenty-Second Annual Statement

To the Stockholders of the
Federal Reserve Bank of New York:

We hand you herewith a statement of the condition of this bank at the close
of the year 1936, and of the profit and loss account for that year.
For convenient comparison, the corresponding statements for the previous
year, 1935, are also shown.
The regular annual report of the Federal Reserve Bank of New York, containing an account of the operations of the bank for the year ended December 31,
1936, is in course of preparation and when issued copies thereof will be sent to
member banks.




GEOKGE L. HARRISON,
President.

Statement of Condition
(In thousands of dollars)
ASSETS

Dec. 31, 1936

Dec. 31, 1935

3,438,991

$ 3,320,993

1,435

1,792

64,811

54,360

$ 3,505,237

$ 3,377,145

655

832

491

2,198

TOTAL BILLS DISCOUNTED .

1,146

3,030

bought in open market,

1,100

1,738

5,958

7,741

GOLD CERTIFICATES

on hand and due from U. S. Treasury

REDEMPTION FUND—Federal

Reserve Notes

OTHER CASH
TOTAL RESERVES.

BILLS DISCOUNTED:
U. S. GOVERNMENT OBLIGATIONS, direct or
fully guaranteed

SECURED BY

OTHER BILLS DISCOUNTED

BILLS

INDUSTRIAL ADVANCES

U. S. GOVERNMENT SECURITIES:
BONDS

$

130,269

$

55,908

TREASURY NOTES

356,035

498,307

TREASURY BILLS

158,939

187,668

TOTAL U. S. GOVERNMENT SECURITIES .

$

645,243

$

741,883

TOTAL BILLS AND SECURITIES .

$

653,447

$

754,392

84

265

8,799

5,483

241,482

166,010

BANK PREMISES

10,134

10,781

ALL OTHER ASSETS

30,576

27,956

$ 4,449,759

4,342,062

D U E FROM FOREIGN BANKS
FEDERAL RESERVE NOTES OF OTHER BANKS .
UNCOLLECTED ITEMS

TOTAL ASSETS,




Federal Reserve Bank of New York
(In thousands of dollars)
LIABILITIES

FEDERAL RESERVE NOTES

in actual circulation.

Dec. 31, 1936

$

921,697

Dec. 31, 1935

$

807,718

DEPOSITS:
2,942,652

2,747,431

108,703

330,925

FOREIGN BANK. .

35,745

10,542

OTHER DEPOSITS .

96,584

165,156

3,183,684

$ 3,254,054

223,480

160,139

CAPITAL PAID I N

50,591

51,006

SURPLUS (Section 7)

51,474

50,825

SURPLUS (Section 13b)

7,744

7,744

RESERVE FOR LOSSES AND CONTINGENCIES .

9,260

8,849

ALL OTHER LIABILITIES

1,829

1,727

$ 4,449,759

$ 4,342,062

85.4%

83.1%

MEMBER BANK—reserve account.

U. S. TREASURER—General Account.

TOTAL DEPOSITS ,

DEFERRED AVAILABILITY ITEMS

TOTAL LIABILITIES.

RATIO OF TOTAL RESERVES

to deposit and Federal Reserve

note liabilities combined
COMMITMENTS




to make industrial advances.

$

8,424

9,948

Profit and Loss Account
For the calendar years 1936 and 1935
(In thousands of dollars)
1935

1936
$

N E T EXPENSES

10,537

13,131

7,441

EARNINGS

7,936

3,096

CURRENT N E T EARNINGS.

$

5,195

ADDITIONS TO CURRENT NET EARNINGS:
2,889

ALL OTHER

$

TOTAL ADDITIONS .

2,678

2

PROFIT ON SALES OF GOVERNMENT SECURITIES . .

82

2,891

$

2,760

DEDUCTIONS FROM CURRENT NET EARNINGS:
RESERVE FOR CONTINGENCIES

413

1,349

SPECIAL RESERVES AND CHARGE-OFFS ON BANK PREMISES

505

1,079

PRIOR SERVICE CONTRIBUTIONS TO RETIREMENT SYSTEM . .

638

632

ASSESSMENT FOR BUILDING FOR BOARD OF GOVERNORS . . .

729

369

Q

190

ALL OTHER

2,288

TOTAL DEDUCTIONS .

3,619

3,699

PAID UNITED STATES TREASURER

(Section 13b).

DIVIDENDS PAID
TRANSFERRED TO SURPLUS (Section 7)

4,336

14

64

3,037

N E T EARNINGS .




$

3,411

648

861

1935 figures have been revised to conform with 1936 report.

Federal Reserve Bank of New York
DIRECTORS
(VACANCY)

Chairman
OWEN D. YOUNG, Van Hornesville, N. Y.

Chairman, General Electric Company, New York, N. Y.
Deputy Chairman
GEORGE W. DAVISON, Greenwich, Conn.

BEARDSLEY BUML, New York, N. Y.

Chairman, Board of Trustees, Central Hanover
Bank and Trust Company, New York, N. Y.

Treasurer, E. H. Ma«y & Company, Inc.,
New York, N. Y.

_,
_ _.
_
EDWARD K. MILLS, Morristown, N. J.

BOBERT T. STEVENS, Plainfield, N. J.
„
., . T '
_.
'. n
, „

_ .,
'
'
_
President, Morristown Trust Company
WILLIAM F. PLOCH, Long Beach, N. Y.
President, The National City Bank of
Long Beach

President, J. P. Stevens & Co., Inc.,
„
v t itf v
WALTER C. TEAGiiE, Port Chester, N. Y.
President, Standard Oil Company
(New Jersey), New York, N. Y.

THOMAS J. WATSON, Lebanon, N. J.

President, International Business Machines
Corporation, New York, N. Y.

OFFICERS
GEORGE L. HARRISON, President

ALLAN SPROUL, First Vice President

L. WERNER KNOKE, Vice President

W. RANDOLPH BURGESS, Vice President

WALTER S. LOGAN, Vice President and General Counsel

CHARLES H. COE, Vice President
EAY M. GIDNEY, Vice President

LESLIE E. BOUNDS, Vice President
JOHN H. WILLIAMS, Vice President

WILLIAM H. DILLJSTIN, Assistant Vice President
J. WILSON JONES, Assistant Vice President
HERBERT H. KIMBALL, Assistant Vice President and Secretary
WALTER B. MATTESON, Assistant Vice President

ARTHUR PHELAN, Assistant Vice President
JAMES M. EICE, Assistant Vice President
HAROLD V. EOELSE, Assistant Vice President
VALENTINE WILLIS, Assistant Vice President

DUDLEY H. BARROWS, Manager, Personnel Department

JACQUES A. MITCHELL, Manager, Credit Department

WESLEY W. BURT, Manager, Accounting Department

HORACE L. SANFORD, Assistant Secretary

DONALD J. CAMERON, Manager, Foreign Department

WILLIAM A. SCOTT, Manager, Government Bond Department

FELIX T. DAVIS, Assistant Counsel

WILLIAM F. SHEEHAN, Manager, Bank Examinations

EDWARD O. DOUGLAS, Manager, Bill Department, and
Manager, Collection Department
HERBERT S. DOWNS, Manager, Bank Belations Department
EDWIN C. FRENCH, Manager, Cash Department

Department (and Chief Examiner)
Assistant Counsel
. TEEIBEE , Assistant Counsel
WlLLIAM F
Counsel
R i m j g j TEIMBLEJ Assigtant

MYLES C. MCCAHILL, Manager, Service Department

CHARLES N. VAN HOUTEN, JR., Manager, Security

EOBERT F. Me MURRAY, Manager, Safekeeping Department
SILAS A. MILLTO, Manager, Securities Department

Custody Department
I. WARD WATERS, Manager, Cash Custody Department




T o D D G T I E B O UT,

GEORGE W. FERGUSON, General Auditor

5

Federal Reserve Bank of New York
MEMBER OF FEDERAL ADVISORY COUNCIL
WlNTHROP W . ALDRICH

Chairman, The Chase National Bank of the City of New York,
New York, N. Y.

INDUSTRIAL ADVISORY COMMITTEE
WILLIAM H. POUCH, Chairman

President, Concrete Steel Company,
New York, N. Y.
HERMAN K. BEACH,

EDWARD J. NOBLE,

President and Treasurer,
Bridgeport Metal Goods Manufacturing Company,
Bridgeport, Conn.
ARTHUR G. NELSON, Vice Chairman

President, Life Savers, Inc.,
Port Chester, N. Y.
FRANCIS B. REYNOLDS,

President, A. G. Nelson Paper Company, Inc.,
New York, N. Y.

President, Columbia Mills, Inc.,
New York, N. Y.

Buffalo Branch of Federal Reserve Bank of New York
DIRECTORS
FRED J. COE,

HOWARD KELLOGG,

President, Power City Trust Company,
Niagara Falls, N. Y.

President, Spencer Kellogg and Sons, Inc.,
Buffalo, N. Y.

WILLIAM A. DUSENBURT,

President, The First National Bank of Olean,
Olean, N. Y.

(VACANCY)

FRANK F. HENRY,

Chairman, Washburn Crosby Company, Inc.,
Buffalo, N. Y.

(VACANCY)

ROBERT M. O'HARA, Managing Director

OFFICERS
ROBERT M. O'HARA, Managing Director
REGINALD B. WILTSE, Assistant Manager




HALSEY W. SNOW, Cashier
CLIFFORD L. BLAKESLEE, Assistant Cashier

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