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TREASURY DEPARTM ENT
By States,A
metropolitan centers in which the
investigation is being made, and the personnel
assigned to each, are as follows:
CALIFORNIAILLINOIS-
San Francisco, 69; Los Angeles, 115.
Chicago, 145.
LOUISIANA- New Orleans, 45.
MARYLAND - Baltimore,
DISTRICT OF COLUMBIA- Washington-
3 /*
MINNESOTA-Ht. Paul- Minneapolis, 56.
MISSOURI— St. Louis, 87^
j
s/
NSW JERSEY- Newark, 45.
NEW YORK-
New York City (three districts), 435.
Buffalo. 62
OHIO- Cincinnati, 45; Cleveland, 87.
PENNSYLVANIA- Philadelphia, 115; Pittsburgh, 80.
’
W ASHINGTON- Tacoma-Seattl e , 45.
WISCONSIN- Milwaukee. 62
project were selected as the result of careful personnel
exarnination. The workers were given courses of training in
each city and their work is under the supervision of
permanent employes of the Internal Revenue Service
1
Uj »
,,-Hi
i’%p
7
l~SL+..J..U
Iy yI
4 - o
Delinquent taxes amounting to more than four
and one-half times the cost of the project to date have bee
established during the first six weeks of the
"miscellaneous
tax" investigation, a relief project being
administered by the Bureau of Internal Revenue.
Reports from the twenty-twTo collection districts
in which the project is being carried on show collections
and assessments totalling $918,253.95 up to September 27
as a result of the investigation. The total expenditures of
the project for the same period were $194,817.29, including1
salaries, rent and miscellaneous expense. Of the total list*
as collections and assessments, $112,269.50 was collected
in cash at the time of the investigation.
O
The investigation has been under way in the distric
in question from four to six weeks, inclusive of the trainii
period for investigators.
Intensive inspections are being made of the books
of furriers, manufacturing jewelers, sporting goods
manufacturers, cosmetics manufacturers and enterprises
subject to taxes on admissions and dues.
The work is financed by a Works Progress Administration Allotment made to the Treasury Department. Twenty
metropolitan centers were chosen for investigation.
In eac
city quotas of investigators and clerks, to a total number
of 1,829, were recruited from relief fuclis.
Men and women
with accounting and other experience xxxfeshiE useful in the
TREASURY DEPARTMENT
Washington
FOR RELEASE,,MORNING NEWSPAPERS,
Friday, October 11, 1935._____
10-9-35.
Press’Service
No,. 6-0
Delinquent taxes amounting to more than four and one-half times the cost
of the project to date have been established during the first six weeks of the
'•miscellaneous tax" investigation, a relief project being administered by the
Bureau of Internal Revenue.
Reports from the twenty-two collection districts in which the project is
being carried on show collections and assessments totalling $918,253,95 up to
September 27 as a result of the investi gation.^ . The totaJ expenditures of the
project for the same period were $194,817.29, including salaries, rent and
miscellaneous expense,. . Of the total listed as collections and assessments,
$112,269.50 was collected in cash at the time of the investigation.
The investigation has been under way in the districts in question from four
to six weeks, inclusive of the training period for investigators..
Intensive inspections are being ma.de of the books of furriers, manufacturing
jewelers, sporting goods manufacturers,tcosmetics manufacturers and enterprises
subject to taxes on admissions and dues.
The work is financed, by a Works Progress Administration Allotment ma.do to
the Treasury Department.
tion.
Twenty metropolitan centers wore chosen for investiga
In each city quotas of investigators and clerks, to a total number of 1829,
were recruited from relief rolls.
Men and women with accounting and other
experience useful in the project aero selected as the res 'It of careful personnel
examination.
The workers were given courses of training in each city and their
work is_under the supervision of permanent employes of the Internal Revenue
Service
-
2-
By. States, the metropolitan centers in which the investigation
is "being made, and the personnel assigned to each are as follows:
CALIFORNIA - San Francisco, 69; Los Angeles, 115.
ILLINOIS - Chicago, 145.
LOUISIANA - New Orleans,.45.
rABYLAKD ~ Baltimore, 58.
DISTRICT OR COLUMBIA - Washington, 31.
MASSACHUSETTS - Boston, ]87.
'MICHIGAN ft Detroit, 115.
MINNESOTA - St, Paul - Minneapolis, 56,
MISSOURI- St. Louis, 87; Kansas City,
^5,
NEW JERSEY - Newark, 45.
NEW YORK - Nev; York City (three districts) 435.
OHIO - Cincinnati, 45; Cleveland, 87.
PENNSYLVANIA - Philadelphia, 115; Pittsburgh, 80.
WASHINGTON - Ta.coma,, Sea.ttle, 45.
WISCONSIN - Milwaukee, 62.
ooOo.o
Buffalo, 62.
TREASURY REPART MEET
Public Health Service
Press Service
- 2
-
Plans for the survey include the study of from five to ten localities
in each of these states, with the exception of Maryland, where activities
will he confined to Baltimore.
Dr. Huntington Williams, Baltimore Health
Commissioner, announced that the survey has not only been approved by the
Health Department, but has also been submitted for approval to the Mayor1s
office and to the Baltimore City Medical Society.
Massachusetts is the first state in which every selected locality
has announced approval of the survey through local health officers. Head
ed by Dr. Henry B. Chadwick, State Commissioner of Public Health, the
following Massachusetts health officials are co-operating with the Public
Health Service:
Dr. Francis X. Mahoney, Health Commissioner of Boston;
Dr. Willys M. Monroe, Health Commissioner of Pittsfield;
Dr. Robert
E. Archibald, State District Health Officer in charge of Ipswich; Dr.
Arthur W. Hayes, chairman of the Greenfield Board of Health, and Dr.
Ernest M. Morris, Health Commissioner of Eall River.
Public Health Service officials stated that announcement of the
remaining forty-three communities is expected within a few days, since
it is hoped to have the enumerators knocking at doors ky in the selected
areas by October 15th.
Local health officials in fifty-two cities and towns among the
ninety-five tentatively selected for field work in the national Health
Inventory, have expressed their desire to co-operate with the Public
Health Service, it was announced today by Acting Surgeon-General
W. F. Draper.
”In accordance with the established policy of the Public Health
Service, no community will be included in the survey without the full
consent of the local authority”, Dr. Draper said.
State Public Health
Departments in each of the nineteen states chosen as the field of ac
tion for the survey, responded at an early date.
The following cities
and towns, more than fifty percent of those selected, have conminicated
Public Health Service officials:
Birmingham, Eufaula, Montgomery
Alabama:
Chico, Oakland
California
Georgia:
Atlanta
Chi cago, Springfield
Illinois:
Louisiana: Bossier, Minden, Monroe
Maryland:
Baltimore
Massachusetts¡: Boston, Fall River, Greenfield, Ipswich, Pittsfield
Detroit, Flint, Port Huron
Michigan:
Minnesota:
lünneapo lis, W inona
St. Louis, Springfield
Missouri:
Hew Jersey: Hewark, Trenton
Hudson, Penn Yan, Hew York City, Schenectady, Syracuse
Hew York:
Cincinnati, Cleveland, Columbus, Franklin
Ohio:
La Grande, Portland, Salem, St. Helens
Oregon:
Pennsylvania: Bellefonte, Harrisburg, Lebanon, Philadelphia,
Pittsburgh
Texas:
Dallas
Utah:
Eureka, Salt Lake City
Ri chmond, Ro anoke
Virginia:
Washington: Olympia, Seattle, Spokane
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Friday, October II, 1935«_______
10-10— 35o
Press Service
No* 6—1
Local health officials in fifty-two cities and towns among the ninety— five
tentatively selected for field work in the National Health Inventory, have
expressed their desire to cooperate with the Public Health Service, it was announced
today by Acting Surgeon-General W.F. Draper«»
uIn accordance with the established policy of the Public Health Service, no
community will be included in the survey without the full consent- of the local
authority1’, Dr* Draper said*
State Public Health Departments in each of the nine
teen states chosen as the field of action for the survey, responded at an early date
The following cities and towns, more than fifty percent of those selected, have
communicated with Public Health Service officals:
Birmingham, Eufaula, Montgomery*
Alabama
California
Chi co, Oakland•
Georgia
Atlanta*
Illinois
Chicago, Springfield*
Louisiana
Bossier, Minden, Monroe*
Maryland
Baltimore#
Massa chusc 11: Boston, Fall River,.Greenfield, Ipswich, Pittsfield*
Mi chigan
Detroit, Flint, Port Huron.
Minnesota
Minneapolis, Winona#
Missouri
St* Louis, Springfield*
Newark, Trenton#
New Jersey
Hudson, Penn Yan, New York City, Schenectady, Syracuse*
New York
Cincinnati, Cleveland, Columbus, Franklin.
Ohio
LaGrande, Portland, Salem, St. Helens*
Oregon
P enn sylvania Bellefonte, Harrisburg, Lebanon, Philadelphia, Pittsburgh«
Texas
Dallas#
Utah
Eureka, Salt Lake City.
Virginia
Richmond, Roanoke#
Washington
Olympia, Seattle, Spokane#
-2«
Plans for the survey include the study of from five to ten localities in each
of these states, with the exception of Maryland, where activities will he confined
to Baltimore»
Dr* Huntington Williams, Baltimore Health Commissioner, announced
that the survey has not only "been approved by the Health Department, but has also
been submitted for approval to the Mayor*s office and to the Baltimore City Medical
Society*
Massachusetts is the first state in which every selected locality has announced
approval of the survey through local health officers*
Headed by Dr. Henry D*
Chadwick, State Commissioner of Public Health, the following Massachusetts health
officials are cooperating with the Public Health Service:
Dr* Prancis X* Mahoney,
Health Commissioner of Boston; Dr«, Willys M* Monroe, Health Commissioner of Pitts
field; Dr* Bobert E. Archibald, State District Health Officer in charge of 1
Ipswich; Dr* Arthur W. Hayes, Chairman of the Greenfield Board of Health, and Dr*
Ernest M* Morris, Health Commissioner of Pall Fiver«.
Public Health Service officials stated that announcement of the remaining
forty-three communities is expected within a few days, since it is hoped to have
the enumerators knocking at doors in the selected areas by October 15th*
ooOoo
TREASURY DEPARTMENT
Washington
October 14, 1935
MEMORANDUM FOR THE PRESS
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended October 11, 1935?
Philadelphia.
San Francisco...............................*.. ••
D env er•••••*•»••••*•»*••••*••*»•••»•»»*•••••••»».
Total for week ended October 11, 1935..............
Total receipts through October 11, 1935............
300,212*34 fine ounces
464,173*29
0
"
7.357.67
" a
771,743.30
11
w
49,418,000.00
n
"
• SII»VER TRANSFERRED TO UNITED STATES?
(Under Executive Proclamation of August 9, 1934)
Week ended October 11, 1935:
Philadelphia.*..............................
596*00 fine ounces
New Y o r k ........ ................. ............ .
• 1,056.00
“
"
San Francisco .............
106*00
H
n
Denver..............
385,00
" 9
New Orleans.
283,00
“
n
Seattle............................. ,..... .
,195,00
«
n
Total for week ended October 11, 1935«.............«
2,621,00
Total receipts through October 11, 1 9 3 5 * . •
113,003,107«00 . n
n
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES?
New
Domestic
$
200,24
51,300,00'
1,824,479,56
492,610,00
63,37
803*418,62
$3,172,071*79
Week ended.October 11, 1935:
Imports
Secondary
P h i l a d e l p h i a * .$ •**■**'*•*•“ *• $165,619,65
New Y
o
r
k
,
36,194,500,00
184,500,00
San Francisco,................
142,549,28
47,382.70
37,533*00
Denver*................ .
88,682,00
35,088,77
New Orleans,•»•••••..•.*.,»•••
16,659,58
16*797,25
Seattle,•••*♦•»
,___-* **r ***,— -*
Total for week ended October 11,$36,442,390*86 $486,921,37
COLD RECEIVED BY FEDERAL RESERVE RANKS AID THE TREASURERS OFFICE?
Ttjnder Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks?
Gold Coin
Week ended October.9,,,......... $
15,205,06
Received previously,,«*........•
30«¿811,726,03
Total to October 9 , . . . . . . $ 3 0 , 8 2 6 , 9 3 1 * 0 9
Received by Treasurer^ Office?
Week ended October 9,..........,
Received previously* .... .... •
Total to October 9,*.,....... ..
NOTE;
$• ~ ~
~
265.456,00
^
265,456,00
Gold bars deposited with the New York Assay Office
in the amount of $200,572,69 previously reported.
Gold Certificates
$
255,960,00
97.976*190,00
$98,232,150*00
$
12,600,00
2.342*100,00
$ 2,254,700,00
T R EA SU R Y DEPARTM ENT
|
y
O F F IC E O F T H E S E C R E T A R Y
WASHINGTON
C O M M ISSIO N E R OF
A C C O U N TS AND D E P O S IT S
October !£» 1935#
•TO MR» GASTON:
During the month, of September the following market
transactions took place in Government securities for invest
meat accounts:
Total purchases • « • . . . . $60*085,000
Total sales
» » « « « a » »
Net purchases:
**
$60 *085,000
TREASURY DEPARTMENT
Washington
Press Service
Ro* 6- 2
POR IMMEDIATE RELEASE,
Monday, October 14, 1935»
Ret market purchases of Government securities for Treasury investment
accounts for the calendar month of September, 1935, amounted to $60,085,000,
Acting Secretary Coolidge announced today*
ooOoo
Under the Emergency Construction programs of
1934 and 1935 there are now 217 projects under contract
cwvfliM.
and construction work in progress,
fiftagfr» cost limits
totalling |38,048,035. Ihere are 499 projects in various
stages leading up to award of contracts, the limits of
cost for these projects totalling 4-85,896,000. Eight
projects have been completed at a cost of
BK $362,200,
For other departments there are 36 projects under
contract,
totaling 415,038,861, with four
projects in preparation, with cost limits of $16,274,300.
Ihe largest of these projects under construction is the new
Department of the Interior ^uilding,
in Washington
with excavation work now approximately 50
D. C
,y
per cent complete.
06
.fit,
Ck
WA,
lo' 3
A total of 567 construction
projects,
.
>57/
to cost $113,651,£s£, are new under contract, under
various
program's under direction of the Treasury
Department, it is shown in a report prepared by
n ear
Admiral
C. 1. Peoples, Director of Procurement.
She report, as of October 11, shows an
additional 597 construction projects, with cost limits
aggregating $116,317,820, in various stages of preparation
for award of contracts.
The projects in these groups include post
offices and other federal buildings in every State of
the Union.
Under the Treasury building program, using
—
fund s appropriated directly to the *reasury D ep artment by
JL
Congress, 23 projects are under construction, total
obligations outstanding amounting to $10,267,290.
These projects represent the completion of
c*r>r Y
T
* $.7 4, ZSt, <*07,
o>
Ox
W
M
this program^
$tl
Jjpfaetk
Under the Public Works pro gram, using funds
allocated to the Treasury by the Public k,orks
Administration, 291 projects are under contract and
construction work in progress, at a total limit of
cost of $50,297,325, and 96 projects, with cost limited
to $14,147,52", are in various stages leading up to the
awrard of contracts. Fifty-seven projects, amounting to
$7,126,228, have been completed.
TREASURY DEPARTMENT
Washington
3T0R RELEASE, MORNING NEWSPAPERS,
Wednesday, October 16. 1935«____
10-14-35.
Press Service
No« 6— 3
A total of 567 construction projects, to cost $113,651,511, are now under con
tract, under various programs under direction of the Treasury Department, it is shown
in a report prepared hy Rear Admiral C«J« Peoples, Director of Procurement*
The report, as of October 11, shows an additional 597 construction projects,
with cost limits aggregating $116,317,820, in various stages of preparation for award
of contracts#
The projects in these groups include Post Offices and other Federal buildings in
every State of the Union«
Under the Treasury building program, using funds appropriated directly to the
Treasury Department by Congress, 23 projects are under construction, total obliga
tions amounting to $10,267,290«
These projects represent the completion of this pro
gram, under which 157 projects were under contract, at a total cost of $272,358,457,
at the end of the 1934 fiscal year«
Under the Public Works program, using funds allocated to the Treasury by the
Public Works Administration, 291 projects are under contract and construction work
in progress, at a total limit of cost of $50,297,325, and 96 projects, with cost
limited to $14,147,520, are in various stages leading up to the award of contracts«
Fifty— seven projects, amounting to $7,126,228, have been completed*
Under the Emergency Construction programs of 1934 and 1935 there are now 217
projects under contract and construction work in progress, under cost limits
totalling $38,048,035«
There are 499 projects in various stages leading up to award
of contracts, the limits of cost for these projects totalling $85,896,000«
Eight
projects have been completed at a cost of $362,200«
For other departments there are 36 projects under contract, totalling
«
$15,038,861, with four projects in preparation, with cost limits of $16,274,300«
The largest of those projects under construction is the new Department of the
Interior Building, in Washington, D«C«, with excavation work now approximately 50
per cent complete*
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a faci «hieb suggests tbat 1X1 heelife 1s «ssoeiated « ü b sudden drop
in tbe standard of liring»
Tb« direct affect of uaemployment 1s in
dicateci by the faci tfesst tbe sickness rate of fentile« hrrlng no
©mployed «orker» m s 4 8 per cent higher tfeas tbe sickness rate of
festines with full-iime «osiers and 14 per cent feigher iban thai of
fenilica «itb p s r W t ime workers only*
îfeese Health and Impression steiles also focuss&d attention cm
as ©«en feroeder field for scientific inquiry»
tbe g&mmlmm» of car
rent lllness, chronic diseases and diesbliag banéleaps«
io little
information is argdlâfele «bout tbese phases of publie fes^lih,
tim%
it
beeeme apparent ft sur«ey of wide scope m u i d be needed before fart her
expansion of public heaitfe actlvltleè coulé be inielligeatly direct ed
tomerd thè prévention
mâ
control of premillng sitíeseos*
lo kaow tbst hesrt distases ere retponsibl© for about ono-fifth
of tbe current deetb-mt«) but little Is kxsovm ss to tbe noaber of
peuple no« safferisg fremi beert trouble, tbe distribution of these
esses, or tbe ago «né sex of tbe suffers*
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other chronic aliments such ss cancer, diabetes, artferiti«, rheumatimi
mé
other lllnesses*
Ss vita! are these grofeleas to tbe future of our publie
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FROM:
MR, GASTON’S OFFICE
TREASURY DEPARTMENT
Washington
Release Upon Delivery,
7:00 P.M., Monday, October 14, 1935.
f
/l
Press Service
No. 6 - M -
An address to be delivered Monday, October 14, 1935, at 7:00 p.,nu,
Eastern Standard Time, by Miss Josephine Roche, Assistant Secr-etarjg
of the Treasury, in Charge of United States Public Health Service^
over the National Broadcasting Company network.
i
THE NATIONAL HEALTH INVENTORY
TREASURY DEPARTMENT
.Washington
RELEASE UPON DELIVERY,
7:00 P#M#, Monday, October 14, 1935«
Press Service
No# 6-'4
An address to be delivered Monday, October 14, 1935, at 7:00 P#M#
Eastern Standard Timé, by Miss Josephine Roche, Assistant Secretary
of the Treasury, in Charge of United States Public Health Service,
over the Rational Broadcasting Company network#
THE HATIORAL HEALTH IRVERTORY
During the last few weeks, the United States Public Health
Service has been occupied in drawing up a new and far-flung
battle-line against disease— the common foe of man#
This week,
the embattled forces will go into action when the Rational Health
Inventory moves forward in nineteen States#
I should like to discuss with you tonight the purposes and
aspirations of this great campaign for public health, in order
to make clear its scope and method, and to enlist the cooperation
of this radio audience#
An important function of the Public Health Service is to
make studies that Will assist in controlling disease and to
provide a central agency for aiding State and municipal health
officials in their work#
Eor some years, the service has been
making both laboratory and field studies of particular diseases
to learn the manner in which the disease is acquired or trails— ,
mitted, and to determine what steps can be taken to prevent it#
In the field of morbidity, studies have been made of sick
ness rates from definite causes, relating to selected population
groups or to selected areas«
Current statistics of disease
prevalence among- sample groups of industrial establishments and
employee sick-benefit associations have been secured through the
cooperation of certain plants and associations«
The majority of such studies have been made at the request
of State or City Health Departments and other public.health
agencies, and.the information collected has been compiled, analyzed
and published«
The authority for these investigations is contained in an
Act of Congress passed in 1912, which provides that ’’the Public
Health Service may study and investigate the diseases of man and
conditions influencing the propagation and spread thereof•••*and
it may from time to time issue information in the form of publica
tions for the use of the public«”
Let us translate the prosaic words of the Act of 1912 into
terms of the dramatic achievements of the Service, so heroically
and untiringly pursued in the past«
The contributions of Public Health Service research played
an important part in the long battle of medical science to bring
us security from the ravages of such diseases as diptheria,
smallpox, typhoid fever and malaria«
o.re nO¥7 subs tan t.ially conquered«
These scourges, we are told,
Today, the Service is carrying
on its long-established and never-ceasing attack upon infantile"
paralysis, typhus, tuberculosis, and many other of the ills to
which mankind, is heir.
lour Public Health Service has led
the way in the fight against, certain diseases which have per
plexed science for some years!
Tularaemia, popularly known
as rabbit fever; Rocky Mountain spotted fever, a highly fatal
disease; psittacosis, or parrot fever; and more recently
encephalitis or sleeping sickness.
Moreover, through reports based upon examinations of
school children and industrial workers, the Service lias sought
to determine the extent of disease and physical impairments.
Again, field studies in connection with epidemic investigation
have included inquiries into economic, industrial and other
influences affecting the spread of disease.
But, because
these studies were limited to certain diseases and to certain
population groups, they do not give as comprehensive an idea
of health conditions throughout the country as is needed.
In the past two years the Service began studies on the
effect of loss of income upon public health.
A survey of ten
localities pointed to a greater problem than has yet been
approached by Public Health officials— the economic waste of
illness throughout the country.
This study showed that the
disabling illness rate was 56 per cent higher among families
—4—
hardest hit by the depression than it was among their more fortunate
neighbors*
Sickness among these l,new poor11 was more prevalent than
among the 11chronic poor11 who had been poverty stricken even in 1929,
a fact which suggests that ill health is associated with sudden drop1,
in the standard of living.
The direct effect of unemployment is. in
dicated by the fact that the sickness rate of families having no
employed workers was 48 per cent higher than the sickness rate of
families with full-time workers and 14 per cent higher than that
of families with part-time workers only.
These Health and Depression studies also focussed attention on
an even broader field for scientific inquiry! the prevalence of
current illness, chronic diseases and disabling handicaps*
So little
information is available about these phases of public health, that
it became apparent a survey of wide scope would be needed before
further expansion of public health activities could be intelligently
directed toward the prevention and control of prevailing sickness.
We know that heart diseases are responsible for about one—fifth
of the current death rate; but little is known as to the number of
people no?; suffering from heart trouble, the distribution of these
cases, or the age and sex of the sufferers.
The same may be said
of other chronic ailments such.as cancer, diabetes, arthritis,
rheumatism and other illnesses.
So vital are these problems to the future of our public
health, that the Works Progress Administration made available
to the United States Public Health Service funds sufficient
to carry out a survey designed to bring to light a vast amount
of information never before obtained.
These funds will be
spent on a National Health Inventory in nineteen States,
The
States and localities included in this survey were carefully
chosen to include a representative section of our population
from north to south and from coast to coast*
750,000 families, an average of 3,000,000 Americans,
will be interviewed in the selected areas in order to get
first-hand information.
Many of you who are listening to
this broadcast may be visited in the next few days by a
Public Health Service representative, and you will probably
be interested to know a little about the information desired,
in order that we may have your whole-hearted cooperation,
Families visited will be asked how many members of the
family are sick from any cause at the time the survey is
made; how many have been sick in the past twelve months.
Since chronic disease and physical impairments are the
chief subject of the survey, the question will be asked
if any member of the family has been, or is suffering from
a chronic illness such as heart trouble, bronchitis, Bright’s
disease, asthma, or other ailments; and if any have had
accidents causing the loss of arms or legs, or if any are
handicapped by blindness or deafness#
The name and address
of the attending physician will be needed in order that his
medical knowledge may be sought as a further check and record
of this information#
Many elements can influence the prevalence of disease#
Therefore, the enumerator will ask about the age, sox and
birthplace of each member of your household#
The relation
between income and illness is important to all of us, due
to the tremendous cost in loss of income and medical care
when a wage earner is ill#
The Presidents Committee on
Economic Security reported that families with annual in
comes under $2500 have an arerage wage loss of $900,000,000
due to illness, and that their costs of medical care are
annually $1,500,000,000— a total money loss of $2,400,000,000
In order that this serious economic waste may be analyzed
further, it is important to gain some idea as to the amount
of time lost from work by the sick members of the family.
I
wish particularly to stress the fact that all informa
tion given to the visiting representatives will be held in
the strickest confidence#
Public Health Service studies are
interested only in facts and figures#
Once the information
you give has been tabulated, it will be compiled in such a
way that no name is used#
When this hats been done, the
schedule filled out by the representative will be destroyed#
So if you are visited "by a Public Health Service enumerator,
you can feel perfectly secure in answering freely»
Wherever
the Inventory is taken, you may also rest assured that your
State and City health officials are acting with the Public
Health Service in the closest cooperation»
The house-to-house canvass is but one phase of the
Inventory»
A more complete record of public health and
medical facilities than has yet been made, will be acquired
throughout the entire country, thus giving us a true idea of
the extent of such facilities now available to the American
people.
Another interesting factor in the survey is a study of
sickness and death rates according to occupation»
This in
formation will be gathered from the records of industrial
sick-benefit funds, and should reveal valuable data concerning
the effects of specific working conditions on the workers»
Facts collected in the National Health Inventory will
be analyzed by scientists and statisticians skilled in: ap
praising figures in their relation to human suffering.
The
results of the studies will be made available to public health
officials and to the medical profession, and the new data, it
is hoped, will lead to an increasingly effective program for
national health.
-7A-
It will interest you to know something about the way
in which the Service records the voluminous data obtained
in a scientific study of this kind.
Methods used "by the
Census Bureau, and of which you may have read, are also
successfully employed "by the Public Health Service.
The
information you give us is translated into a numerical code
and first recorded by hand on a code sheet.
This sheet is
then tabulated by machines on punch cards.
Sorting machines
compile the data found on these cards, and can sift out any
specific information required by statisticians.
Tor example,
the sorting machines can tell us how many cases of arthritis
have been recorded in the survey— -by States, by cities, by
sex, by age, by occupation— or can give us a grand total.
For many years, the Public Health Service has followed
this method in surveys of a more restricted nature.
The
national Health Inventory is, however, the first survey in
which the problem of sickness in this country has been
?
approached on so wide a field and such a well organized
scale.
~8~
Many of you, perhaps, are familiar with public health
measures chiefly thru quarantine regulations, protection of
school children against smallpox by vaccination, and other
phases of the fight against communicable diseases.
Important
as these functions are, the term "public health" deserves a
deeper comprehension by you whose lives it directly influences.
Scientific inquiry has shown us that the personal health
of every individual in a community is influenced by the normal
health level of that community.
If this be true for a commu
nity, it is equally true for a nation.
The health of a nation
is a great national resource, and it should be a source of pride
and gratification to our people that the Government today is
meeting the challenge to protect that resource.
Increasingly,
"public health" is regarded as one of our greatest reservoirs
of "public wealth."
Our Government has manifested its appreciation of the
vital importance of public health by wisely investing in a
National Health Inventory.
Many of you listening tonight may
be called upon to contribute to the sum total of the facts
gathered.
By giving the data requested, you will be rendering
a public service which may in the future have a beneficial
effect upon your own health, and upon the health of the people
everywhere; and you will have played a part in the advance of
medical knowledge toward the goal of modern science • security
for the people from the hazards of disease.
— nOrw-
TREASURY DEPARTMENT
WASHINGTON
fOR RELEASE, MORNING NEWSPAPERS,
***** SSTtle«
Tuesday. Oetober 15, I9S5*
io/OT
Acting secretary of the Treasury Ooolidgs announced last evening that the
tenders for two series of Treasury hills to he dated October Id, M S B . shieh *ere
offered on October 11, -ere opened at the Federal Seserve bank, on October 14, IBS
Tender, sere invited for the two series to the aggregate amount of *100,000,0
or thereabouts, and * 3 8 6 ,4 9 1 , 0 0 0 was applied for, of which *100,816,000 was accept
Th® details of the two series are as follows:
152-DAY TREASURY BILLS, MATURING MARCH 16» 1956
For this series, which was for *80,000,000, or thereabouts, the total account
applied for was *193,039,000, of which *60,208,000 was accepted.
The accepted M i
ranged in price fro. 99.945, aquivnlaat to a rate of about 0.130 percent per annua
to 99.937, equivalent to a rate of shout 0.149 percent per annum, on a bank dis
count basis.
Only pert of the «count bid for at the latter price was accepted,
average price of Treasury bills of this aeries to be issued is 99.939 and the ave:
rata is about 0.144 percent per annua on e bank discount basis.
»»e-nav TBSA.30RY BBJ.3. MiCTH M S JOLT IS. 1936
For this series, which was for *80.000.000, or thsrsabouts, the total »<*»*
applied for wa. *193.482.000, of which $80,111,000 wa. accepted.
The accepted bl
ranged in price fro. 99.887, equivalent to a rat. of about 0.169 parent per «an
te 99.841, equivalent to a rat. of about 0.210 parent per annua, on « bank disco
basis.
Only part of tba amount bid for at the latter p r i e was accepted.
The
average price of Treasury bill, of this eric, to bs L e a d is 99.848 and th. av
rat. i. about 0.205 percent
per
annum on a tank di.eent basis.
TREASURY DEPARTMENT
Washington
Press Service
No. 6-5
POR RELEASE, MORNING- NEWSPAPERS,
Tuesday. October 15« 1935.
10-14-35.
re
Acting Secretary of the Treasury Coolidge announced last evening that the
1935
tenders for two series of Treasury hills, to he dated October 16, 1935, which were .
0,05
offered on October 11, were opened at the Federal Reserve hanks on October 14, 1935«
epti
Tenders v^ere invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $3 8 6 ,4 9 1 , 0 0 0 was applied for, of which
$100,316,000^ was accepted.
The details of the two series are as follows!
B it
152-DAY TREASURY RILLS. MATURING- MARCH 16, 1936
bid
For this series, which was for $50,000,000, or thereabouts, the total amount
mm
Applied for was $193,039,000, of whicn $50,205,000 was accepted.
The accepted bids
•.ranged in price from 99.945, equivalent to.a rate of about 0.130 percent per annum,
to 99.937, equivalent to a rate of about 0.149 percent per annum', on a bank dis
avei
count basis.
Only part of the amount bid for at the latter price was.accepted.
The average price of Treasury bills of this series to be issued is 99.939 and the
average rate is about 0.144 peroent per annum on a bank discount basis.
273-DAY TREASURY BILLS. MATURING- JULY 15. 1936.
bl
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $193,452,000, of which $50,111,000 was accepted.
The accepted bids
.»oc
ranged in price from 99.857, equivalent to.a rate of about 0.189 percent per annum,
to 99.841, equivalent to a rate of about 0.210 percent per annum, on a bank dis
ave
count basis.
Only part of the amount bid for at the latter price was.accepted.
jThe average 'price of Treasury bills of this series to be issued is 99.845 and the
[average rate is about 0.205 percent per annum on a bank discount basis.
ooOoo
IMPORTS OP DISTILLED LIQUORS AND VINES AND DUTIES COLLECTED THEREON
August,
1934,
1333» and Mins Months Ending August
31,
1334» 1335
(Revised)
:
: August
:
*
.
1
1W5.
July
--- 1235 —
:
s
August
L
1934
Nine Months Ending
:
t August 31, : August 3]
1
1135---- 1---- i31<
DISTILLED LIQUORS (Proof Gallons):
Stock in C u s t o m Bonded Ware
houses at beginning
Total Inports (Pros and Dutiable)
3,«<1,275
3,770,#1<
444,104
Awailable for consumption
4*305*3«!
524,372
4,295*188
4,523*311
313*^5
4,837,3*0
463,863
433*313
388,934
5*153*945
9*268,959
5,427,441
3,841,518
3,861,275
4*448,446
3,841,518
1,602,538
123,682
1 *732*220
1,59«*103
150,587
1 *748,690
1*968,975
149*496
2,118,471
132*177
146,152
1,600,043
Entered into consumption (a)
Stook in Custons Bonded Ware
—
houses at end
STILL VINES (Liquid Oallons):
Stook in Custons Bonded Ware
houses at beginning
Total Isports (Free and Dutiable)
Awailable for Consuaptlon
Entered into Consuaptlon (a)
—
Stook in Custons Bonded Ware
houses at end
4,115,014
28,Cl
8*944,21
•*972,31
4*523,«!
4,448,4
1 ,813,921
230,«
4*735*)!
«.365,1
125*893
1*552,303
3,366,224
1 ,766,181
1 ,602,538
1*992,578
1 ,600,043
233*248
305*268
345*195
6,315
305,5<l
6,414
356,837
134*051
490,868
703,»
197*871
359)*
293,017
344,J
26*156,585
2,196,444
$22,258)3
2,973)1
1*992)5
SPARXLINO VINES (Liquid Gallons):
Stook in Custeas Bended Varehouses at beginning
Total laports (free and Dutiable)
Awailable for Consuaptlon
Entered into Consuaptlon (a)
^
Stook in Customs Bonded Vare
houses at end
DUTIES COLLECTED ON Distilled Liquors
12,544
311,682
12,434
11,230
356.425
12*065
233,017
239*248
344.360
2,201,252
$
73.284
$ 2,052,337
180,894
72.984
2,437*326
34.690.166
162,730
Still Wines
Sparkling linos
Total Duties Colleoted on Liquors
Total Duties Colleoted on Other
Commodities
Total Duties Colleoted
71,622
1,172.148
3*712*3
2*144^
2,306,215
2*148,545
29* 525*177
28,115)«
27.405.178
20,803,532
243*324,630
177,iMi!
$37*127*492
$29,711*353
6.69b
?♦«*
Per Cent Colleoted on Liquors
$ 1,919*819 $
157*104
$22,952,077 $272,849,807 $205,650,1
(a) Including withdrawn!» for ship supplies and diplomatie us#.
’KPREPARED BY
DIVISION F OF 1 STATISTICS
,
BUREAU
,i-.t r e a s ur y
OF
AND
RESEARCH
CUSTOMS
departm ent
49)5
654,2!
9*4*
10.
i'd
é> C
I
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Thursday, October 17, 1935»_______
KKL6-35»
Press Service
No. 6-6
Duties collected on imported distilled liquors and the volume entering
consumption continue to show increases over corresponding months of 1934, it
is shown hy a report of the Bureau of Customs for the month of August, 1935,
and the calendar year to September 1*
The report shows, however, that imports of still and sparkling wines and
the volume entering into consumption have decreased materially as compared with
corresponding months of 1934»
Following are the detailed statistics:
A
IMPORTS OP PISTILLED LIQUORS AUD WIRES AND DUTIES COLLECTED THEREOR
August, 1934, 1935, and Rine Months Ending August 31, 1934, 1935
August
1935
jJoTILLED LIQUORS
¡Proof Gallons):
Stock in Customs
■Bonded Warehouses
■at "beginning .... 3,861,275
'total Imports (Pree
444,106
■and dutiable ....
Available for Con■sumption ...... . 4,305,381
Kntered into Con463,863
■ sumption (a) ....
■Stock in Customs
■Bonded Warehouses
■ at e n d ..... .... 3,841,518
STILL WIRES
■ Liquid Gallons):
■Stock in Customs
■ Bonded Warehouses
■ at beginning .... 1,602,538
■Total Imports (Pree
129,682
■ and dutiable)*...
■vailable for Con1,732,220
1 sumption.......
■Entered into Con132,177
■ sumption (a) *..«
■Stock in- Customs
■ Bonded Warehouses
1,600,043
■ at e n d .........
&ARKLIRG WIRES :
■ Liquid Gallons):
■Stock in Customs_
■ Bonded Warehouses
299,248
I at beginning ....
■Total Imports (Pree
1 and dutiable)...
6,313
■Available for Con1 sumption .........
305,561
■Entered into Con12,544
! sumption (a) ....
ptock in Customs
■ Bonded Warehouses
■ at e n d .......... . 293,017
■Distilled Liquors
W till Wines .... ’.
■Sparkling Wines *
Jotal Duties Colg e c ted on Liquors
August
1934
A Jul^r
1935
Fine Months Ending
August 31,
August 31,
1934
1935
4,523,911
4,115,014
28,044
313,469
5,153,945
8,944,260
4,295,188
4,837,380
9,268,959
8,972,304
433,913
388,934
5,427,441
4,523,858
3,861,275
4,448,446
3,841,518
4,448,446
1,598,103
1,968,975
1,813,921
230,001
150,587
149,496
1,552,303
4,735,730
1,748,690
2,118,471
3,366,224
4,965,731
146,152
125,893
1,766,181
2,973,153
1,602,538
1,992,578
1,600,043
1,992,578
305,268
345,195
356,837
49,550
6,414
11,230
134,051
654,293
311,682
356,425
490,888
703,843
197,871
359,483
293,017
344.360
3,770,816
.. .524,372
;
12,434
12,065 :
299,248
344,360
$2,201,252!$
162,790:
73,284:
2,052,337:$
180,894:
72,984;
1,919,819:$
157,104:
71,622:
$2,437,326;$
2,306,215: $ 2,148,545: $ 29,525,177: $28,115,081
26,156,5C&:$ 22,258,309
2,196,444:
3,712,305
1,172,148:
2,144.467
P-) Including withdrawals for ship supplies and diplomatic use,
Other studies tentatively
outlined
include the study of a large number of
special attention to changes in allocation of corporate
income, changes in depreciation computations, and the like I
and the study of changes in the income tax classifications I
of a sample number of individual taxpayers for the same
S
i
years.
The project is financed by an allocation of
$1,200,000 and is planned to &9Bfeur cover a year.
Efforts are being ma I
to secure men and women.with office experience.
wages are being paid
Results of the stud;
following completion of the project.
Security I
¿T t
111'IjUMain offices of the Treasury Department’s
income tax study project will soon he supplemented hy
the establishment of branch offices in five or more
additional cities .*7?
^
i
r'Main offices recently were established at
\
Baltimore, a force of approximately 450 "white collar51
workers, taken from relief rolls, is now engaged in an
intensive study of approximately 500,000 capital gains
tax
¡turns
ta"“£E33|[3^
It is planned to enroll a total force of
approximately 1,200 workers in tfae combined personnel
of main end branch offices.
New York, Chicago, Fhiladelj
Boston and Cleveland have been tentatively selected as
locations of branch offices.
<^The
additional studies to be undertaken upon
the establishment of branch offices include:
A complete tabulation of 1934 individual
income tax returns.
Returns under 45,000 have
been only sampled in previous compilations.
is
xhe tabulât
to include for the first time a breakdown by
counties end by cities of more than
25,000 population.
Compilation of returns of partnerships and of
fiduciaries, for the years 1931 to 1934, inclusive.
No
compilations of either type of return have
previously been made*
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Friday, October 18, 1935»
Press Service
No* 6-7
10-16-357
Main offices of the Treasury Department^ income tax study project will soon "be
supplemented, hy the ©stahlishment of branch offices in five or more additional
cities*
The project is under the direction of the Division of Research and Statistics*
Main offices recently were established at Baltimore*
A force of approximately 450
"y/hite collar11 workers, taken from relief rolls, is now engaged in an intensive
study of approximately 300,000 capital gains tax returns made under the Act of 1934
t
It is planned to enroll a total force of approximately 1200 workers in the
combined personnel of main and branch offices*
New York, Chicago, Philadelphia,
Boston and Cleveland have been tentatively selected as locations of branch offices*
The additional studies to be undertaken upon the establishment of branch offices
include:
A complete tabulation of 1934 individual income tax returns*
$5,000 have been only sampled in previous compilations.
Returns under
The tabulation is to
include for the first time a breakdown by counties and by cities of more than
25,000 population.
Compilation of returns of partnerships and of fiduciaries, for the years 1931
to 1934, inclusive.
No compilations of either type of return have previously been
made*
Other studies tentatively outlined include the study of a large number of
corporations, for the years 1926-1934, with special attention to changes in alloca
tion of corporate income, changes in depreciation computations, and the like; and
the study of changes in the income tax classifications of a sample number of
-2~
individual taxpayers for the same period of years»
The project is financed by an allocation of $ls200f000 and is planned to
Dover a year»
bxperience»
Efforts are being made to secure men and women with office
Security wages are being paid»
Results of the studies will be published following completion of the project*
0 0 O 00
TR1A8ÖRY D M f l i
WASHINGTON
FOR mmiktM, KELKABS,
Pre®« Service
Thursday» October X?» 1935•
(>■
jor
Thu
Acting Secretary of the Treasury Coolldge today announced that reports fro®
the Federal Reserve banks Indicate that #998,090,050 of Fourth Liberty Loan bondi
for redemption on October 15,
<Sr about 80 percent of the amount included in the fourth and final call^ have
j
the
or
been exchanged.
1420,180,000 were exchanged for the 1-1/2 percent Treasury Hotel
red
of Series c-1939, and #5*8,910,050 for the 8-3/4 percent treasury Bonds of 194«
th e
Subscriptions sere divided among the several Federal Reserve districts and
per
Treasury as follows:
Federal Reserve
District _____ _
Subscriptions
for Notes
Subscriptions
for Bonds
Total
Subseriptli
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
Total
| 26,859,980
286,291,350
7,047,650
16,667,050
5,460,400
2,312,850
55,298,400
8,687,000
9,053,150
5,779,150
272,850
5,294,150
2.259,050
4489,180,005
$ 19,828,350
$
275,514,050
27,421,300
52,062,950
15,266,600
9,333,250
*6,133,050
27,411,400
7,559,750
21,819,550
8,759,300
25,116,050
15,304,650
1568,910,0^0
46,688,1
561,605,1
34,468,1
68,730,1
18,727,1
11,646,
119,428,1
35,998,
16,612,
26,998,
9,018,
50,410,
17,S63l
$998,090,
the
Fed
Dis
Bos
Hew
Phi
fcle
Kic
jilfla
Chi
[St.
kin:
Kan
Dal!
San
Tre;
1
Prora
Acting Secretary of the Treasury Coolidge today announced that reports from
bonds
r 15, the Federal Reserve hanks indicate that $998,090,050 of Fourth Liberty Loan bonds
&
Kfotei
or about 80 percent of the amount included in the fourth and final call for
redemption on October 15, have been exchanged.
$429,180,000 were exchanged for
the 1-1/2 percent Treasury Notes of Series C-1939, and $568,910,050 for the 2-3/4
percent..Treasury Bonds of 1945-47.
Subscriptions were divided among the several Federal Reserve districts and
the Treasury as follows:
Federal Reserve
District
Subscriptions
for Notes
Subscriptions
for Bonds
Boston
pew York
[Philadelphia
pi eveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Pallas
San Francisco
[Treasury
Total
$ 26,859,950
286,291,350
7,047,650
16,667,050
5,460,400
2,312,850
53,295,400
8,587,000
9,053,150
5,779,150
272,850
5,294,150
2,259,050
$429,180,000
$ 19,828,350
275,514,050
27,421,300
52,062,950
13,266,600
9,333,250
66,133,050
27,411,400
7,559,750
21,219,350
8,739,300
25,116,050
15,304,650
$568,910,050
ooOoo
Total
Subscrip
tions
$ 46,688,300
561,805,400
34,468,950
68,730,000
18,727,000
11,646,100
119,428,450
35,998,400
16jol2^900
26,998,500
9,012,150
30,410,200
17,563,700
$998,090,050
In addition to the
craft to he assigned to service
with the fleet and air stations, $497,000 has been allocate
from work relief funds for construction of
surfboats
and lifeboats at the Coast Guard bepot, Curtis Bay,
/
Maryland.
These boats will be operated largely from Coast
Goard life saving stations.
iJ-he
boats to be constructed
include 10 motor lifeboats, 12 motor selfbailing
surfboats, 18 pulling selfbailing surfboats, 6 ^ace Point
surfboats, 4 Monomoy surfboats, 10 26-foot motor speedboats I
and five conversions of motor lifeboats.
Preliminary
vvork looking teov/ard construction on these craft is now
underway.
k n o ts, c a r r y a crew o f s ix *
A c o n t r a c t has been awarded
fo r d e liv e r y in 1936 *
Seven wood a irp la n e c ra sh b o a ts , approxim ate
t o t a l c o s t $ 3 7 ,0 0 0 *
These new type b o a ts , 28 f e e t in length,
a re designed to a t t a i n a speed o f l±0 s ta tu te m iles p er hour.
*
They a re planned f o r re scu e work and o th e r a id to a i r c r a f t
and w i l l be assig n ed to C oast Guard A ir S ta tio n s .
The
c o n tr a c t c a l l s f o r com pletion by Ja n u a ry 1 , 193^*
T h irteen 2 6 -f o o t motor b o a ts f o r c u t t e r s to have a
speed of 35 sta tu te miles per hour; a co n tract has been
awarded ca llin g for completion by November 30, 1935*
In
ad d ition , probably seven sp ecial type speed boats for cutters
w ill be p rocu red , the b id s to be opened
t o t a l c o s t o f th ese two c la s s e s of speed b o ats w ill be
ap p ro xim ately $ 60,000
Th
Twenty-one 38-foot picket boats, approximate total
cost §226,000. Each vessel will carry a crew of two men.
A
contract was
awarded Friday to the Freeport Point Shipyard,
15
Freeport Point, Long Island, for construction of
of these
for §57,750. A contract was awarded to
Stephens Brothers, Stockton, Cal«, for 6 boats,
for
§45,000.
Qf
tOQft»
Nine 8 0 -f o o t wood p a tr o l b o a ts , approxim ate t o t a l
c o s t , $ 5 8 2 ,OCX)*
These b o a ts w ill have speeds of from 28 to
30 m iles p er hour and c a r r y crew# o f e i g h t .
/v
^
C o n tra c ts have
been awarded and d e l iv e r i e s a re to take p lace during 1936 .
to ta l
Four 6 5 -f o o t wood p a tr o l b o a ts , a p p ro x im a te /co st
$ 2 0 9 90 0 0 .
These ve s s e l s w ill have speeds o f about 4-0 m iles
per hour and w ill c a r r y crew # o f s i x .
f V-
C o n tra cts have been
awarded f o r d e l iv e r i e s in 1936 .
E ig h t wood anchorage and boarding b o a ts , approximate]
t o t a l c o s t , $ 2 6 3 ,0 0 0 .
These vgssm is a re to be about 55 fe e t
in len g th w ith a speed o f ap p roxim ately 10 k n o ts, c a rry in g
crew ^ o f f i v e .
A c o n t r a c t fo r two v e s s e ls has been awarded,
and a ^con tract f o r the rem ainder w ill s h o rtly be p la c e d ,
3 lis *
Two 6 2 -f o o t h arb or c r a f t , approxim ate t o t a l c o s t ,
$ 1 2 6 ,0 0 0 .
These v e s s e ls , w ith^speed# of ap p roxim ately 10
Ol
IVv
Seventy-eight vessels for varied duties in the
United States Coast Guard fleet and at air stations,
and a large number of surfboats end lifeboats for shore
stations are included in a 118,446,000 vessel construction
program now under way.
The vessels in the program and the present status in eai
class are as follows:
Seven cruising' cutters, approximate total cost,
116,446,000«
These steel vessels, now under construction
by the Navy Department, will be both larger and faster thai
cruising cutters now in Coast Guard service. They will be
327
feet in length, with a 41-foot beam and a standard
displacement of 2,000 tons«
Seven thousand horsepower
twin-screw gear turbines will produce a speed of 20 knots,
Each cutter will be designed to carry aircraft. Each
will have a crew of 129 officers and men. The probable
completion dates range from July, 1936, to January, 1937.
Each cutter will bear the name of a former Secretary
of the Treasury.
In the order of their scheduled
completion the cutters will be known as the ^eorge W. Camp'
Samuel D. Ingham, ‘
W illiam J. Duane, Roger B. Taney, Alexani
Hamilton, John C. Spencer and George M. Bibb.
The largest
cutters now in service are 250 feet in length with a
displacement of 1,979 tons.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Sunday. October 20. 1935.
10/18/35
Press Service
No. 6 - 9
Seventy-eight vessels for varied duties in the United States Coast Guard
fleet and at air stations, and a large number of surf"boats and lifeboats for shore
stations are included in a $18,446,000 vessel construction program now under way.
The vessels in the program and the present status in each class are as
follows:
Seven cruising cutters, approximate total cost, $16,446,000.
These steel
vessels, now under construction by the Navy Department, will be both larger and
faster than any cruising cutters now in Coast Guard service.
They will be 327
feet in length, with a 41-foot beam and a standard displacement of 2,000 tons.
Seven thousand horsepower twin-screw gear turbines will.produce a speed of 20
knots.
Each cutter will be designed to carry aircraft.
of 129 officers and men.
to January, 1937.
Treasury.
Each will have a crew
The probable completion dates range from July, 1936,
Each cutter will bear the name of a former Secretary of the
In the order of their scheduled completion the cutters will be known
as the George W. Campbell, Samuel D. Ingham, William J. Duane, Roger B, Taney,
Alexander Hamilton, John C. Spencer and George M. Bibb,
The largest cutters now
in service are 250 feet in length with a displacement of 1,979 tons.
Nine 80-foot wood patrol boats, approximate total cost $582,000.
These
boats will have speeds of from 28 to 30 miles per hour end each will carry a
crew of eight.
Contraxts have been awarded and deliveries are to take place
during 1936.
.
Pour 65-foot wood patrol boats, approximate total cost $209,000.
These
boats will have speeds of about 40 miles per hour and each will ca.rry a crew of
six.
Contraxts have been awarded for deliveries in 1936.
Eight wood anchorage and hoarding boats, approximate total cost, $263,000.
these are to he about 55 feet in length with a speed of approximately 10 knots,
carrying a crew of five.
A contract for two vessels has been awarded, and a con
tract for the remainder will shortly he placed, with deliveries in 1936.
Two 62-foot harbor craft, approximate total cost, $126,000.
Lith a speed of approximately 10 knots, carry a crew of six.
These vessels,
A contract has been
kWarded for delivery in 1936.
Seven wood airplane crash boa.ts, approximate total cost $37,000«
These
new type boats, 28 feet in length, are designed to obtain a speed of 40 statute
jmiles per hour.
They are planned for rescue work and other aid to aircraft and
pill be assigned to Coast Guard Air Stefions.
m
The contract calls for completion
January 1, 1936.
Twenty-one 38-foot picket boats, approximate total cost $226,000.
vessel will carry a crew of two men.
Each
A contract was awarded Eriday to the
¡Freeport Point Shipyard, Ereeport Point, Long Island, for construction of 15 of
¡these boats, for $57,750.
A contract was awarded to Stephens Brothers, Stockton,
California, for 6 boats, for $45,000.
Thirteen 26— foot motor boa.ts for cutters to have a speed of 35 statute
¡miles per hour; a contract has been awarded calling for completion by November 30,
1935.
In addition, probably seven special type speed boats for cutters will be
procured, the bids to be opened on Monday, October 21.
The total cost of these
two classes of speed boats will be approximetely $60,000.
In addition to the craft to be assigned to service with the fleet and air
stations, $497,000 has been allocated from work relief funds for construction of
surfboats and lifeboats at the Coast Guard Depot, Curtis Bay, Maryland.
These
3 -
boats will "be operated largely from Coast Guard life saving stations»
The "boats
to "be constructed include 10 motor lifeboats, 12 motor selfbailing surfboats,
18 pulling selfbailing surfboats* 6 Race Point surfboats, 4 Monomoy surfboats,
10 26-foot motor speedboats and five conversions of motor lifeboats.
Pre
liminary work looking toward construction on these craft is now underway.
— oOo—
TREASURY H
W
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
***** SerTic®
Yua>xiay, October 25,1935.----10/21/55
b ^
0
Acting Secretary of the Treasury Coolidge announced last evening that the
tenders for two series of Treasury hills, to he dated October 25, 1935, which
were offered on October 18, were opened at the Federal Reserve beaks on October
21, 1955.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $478,198,000 was applied for, of which
$100,860,000 was accepted.
The details of the two series are as follows:
145-DAY TREASURY BILLS. MATURING MARCH 16, 1956
For this series, which was for $50,000,000, or thereabouts, the total
amount applied for was $288,950,000, of which $50,830,000 was accepted.
The
accepted bids ranged in price from 99.960, equivalent to a rate of about 0.099
percent per annum, to 99.953, equivalent to a rate of about 0.117 percent per
annum, on a bank discount basis.
price was accepted.
Only part of the amount bid for at the latter
The average price of Treasury bills of this series to be
issued is 99.956 and the average rate is about 0.109 percent per annua on a
bank discount basis.
273-DAY TREASURY B U I S . S&TDRINO TOLY 22# 1QS6
TOT this
aeries, which was for *50,000,000, or thereabout», the total
«„ount applied for was *186,048.000, of which *50,050,000 wa. accepted,
-ft.
accepted hide ranged in price from 89.900, equivalent to a rate of about 0.182
percent per annum, to 99.863, equivalent to a rate of about 0.1S1 parent fur
anauat, on a hank discount beats.
price wa. accepted.
Only part of the amount bid for at the latter
The average price of Treasury bill, of thin aerie, to be
Issued is 99.865 and the average rate i. about 0.177 percent per annum on a
bank discount basis*
* 1 1
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORDINE NEWSPAPERS,
Tuesday,, October 22, 1955»______
10-21-35.
Press Service
No* 6-*10
Acting Secretary of the Treasury Coolidge announced last evening that the
tenders for two series of Treasury "bills, to he dated October 23, 1935, which were
offered on October 18, were opened at the Federal Reserve banks on October
21,
1935
Tenders were invited for the two series to the aggregate amount of
$1 0 0 ,0 0 0 ,0 0 0 , or thereabouts, and $475*198*000 was applied for, $f which
$1009
860*000 was accepted. .The details of the two series are as follows;
145-DAY TREASURY BILLS, MATURINE MARCH 16, 1936
Por this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $288,950,000, of which $50^830^000 was accented.
The accepted bids
ranged in price from 99*960, equivalent to a rate of about 0.099 percent per annum,
to
9 9 .9 5 2 ,
equivalent to a rate of about 0.117 percent per annum, on a bank dis
count basis*
Only part of the amount bid for at the latter price was.accepted.
The average price of Treasury bills of this series to be issued is 99.956 and the
average rate is about 0.109 percent per annum on a bank discount basis.
273-DAY TREASURY BILLS, MATURINE JULY 22, 1936
Por this series, which was for $50,000,000, or thereabouts, the total amount
applied for whs $186,248,000, of which $50,030,000 was accepted.
The accepted bids
ranged in price from 99.900, equivalent to a rate of about 0.Ì52 percent per annum,
to 99.863» equivalent to a rate of about 0.181 percent per annum, on a bank
discount basis*
Only part of the amount bid for at the latter price was accepted.
The average price of'Treasury bills of "this series to be issued is 99*865 and the
average rate is about 0.177 percent per annum on a bank discount basis.
0 0 O 00
o
CJj-— ^
^
-
f
e
"
0 ^
Competiition Winners ßdf Mura
In Post o\fjcg --&IKT-^üstiW--£fèp_______
■stièe^Bep
George Harding,
1231 Montgomery Avenue,
Wyrmewood, Pa,
Karl Free,
14 West 8th Street
Hew York City,
Two other artists were appointed - Doris Lee and Tom Lea, and both
were asked to redesign.
The same jury rejected all of the designs offered in the competition
i*or the three murals for the Justice Department building and recommended that
a limited invited competition be initiated to which nine painters will be in
vited to submit designs.
The following ari
ments without competition to
execute murals for the Post Office and Justice Department buildings;
Thomas Benton
J. S . Curry
Leon Kroll
Henry Varnum Poor
Eugene Savage
George Biddle
Rockwell Kent
Reginald Marsh
Boardman Robinson
Maurice Sterne
The First Annual Exhibition of The
Section of Painting and Sculpture
An exhibition showing the sculpture models and mural designs that
have won the various competitions initiated by the Section of Paintinp* and
¿iB,
Crurdku)
e
Sculptured during its first year of activity/"'together with a number of the
murals and sculpture models done by artists appointed without competition by
the Section, will be held in the Corcoran Gallery of Art, Washington, D. C.,
through the courtesy of the Museum*s Trustees, beginning October 29th and
concluding November 21st.
Press view October 24th.
Public view October 29th.
Photographs are available at the Section of Painting and Sculpture
Room 203, Federal Warehouse, 9th and D Sts., S. W . , Washington, D. C.
R
Competition fJjijjaerys for JJ^als and<Sculptnri
|re
In Po s
c^^and Justice Department '^Bu
iTcmifc
Buildings
Rural Free Delivery
Gaetano Cecere,
412 West 33d Street,
New York City*
Air Mail
Oronzio Maldarelli,
137 East 35th Street,
New York City.
Alaska Snowshoe Carrier
Chaim Gross,
63 East 9th Street,
New York City.
Present Day Postman
Attilio Piccerilli,
467 East 142d Street,
New York City.
Express Man
Heinz Warneke,
5 Washington Mews,
New York City.
kLouis Slobodkin,
333 Fourth Avenue,
New York City.
Hawaiian, Puerto Rican
or Philippine Postman
In addition to the above statues, figures of Benjamin Franklin and
Samuel Osgood will be carried out by William Zorach and Paul Manship, respec
tively, the two sculptors who were appointed by the Section of Painting and
Sculpture, without competition, to do this work.
Post Office Murals
A jury consisting of the following painters; Edward Bruce, Olin Dows,
Leon Kroll, Bancel LaFarge, Jonas Lie, Ernest Peixotto, Henry Schnakenberg and
Eugene Speicher, judged the competition for eight murals to be placed in the
Post Office and three murals in competition for the Department of Justice build
ing.
This jury accepted designs by the following six artists:
Alfred D. Crimi,
1962 Pilgrim Avenue,
Bronx, N. Y.
Ward Lockwood,
Taos, New Mexico.
Frank Mechau,
1126 N. Tejon,
Colorado Springs, Colorado,
William C. Palmer,
220 West 16th Street,
New York City.
Release for Sunday, October 27th
COMPETITION WINNERS FOR MURALS AND SCULPTURE
IN POST OFFICE AND JUSTICE DEPARTMENT BUILDINGS
The Ti easuiy P'
gpai"fancigl «■» Section of Painting and sculpture an-
y\
nounces the following painters and sculptors »|||P -won the competitions ini' i
"■*
.ir'-f1“ 1-'"” nf pMpSaafi fflm1 yimljnliiii
'n for murals and sculpture
in the Post Office and Justice Department buildings in Washington, D. C.
These competitions were initiated to determine the sculptors to execute
twelve statues for the Reception Room of the Postmaster General and the
painters to execute eight murals for the Post Office building.
Three murals
for the Department of Justice building were also in competition.
In order to decide the winners for the Post Office, a jury consist
ing of Alice Decker, Paul Manship and William Zorach, sculptors, and William
Adams Delano, architect of the Post Office building, examined the models sub
mitted by the forty-seven sculptors who competed.
Twelve different types of
mail carriers were selected as subjects for the proposed statues.
The jury
selected the following artists to execute statues af the following types of
mail carriers:
Foot Postman, Colonial
1691 to 1775
Berta Margoulies,
17 West 96th Street,
Nevi York City.
Post Rider, Continental
1775 to 1789
Stirling Calder,
51 West 10th Street,
New York City.
Stage Driver, U. S. P. 0.
1789 to 1836
Sidney Waugh,
101 Park Avenue,
New York City.
Pony Express
1850 to 1858
Arthur Lee,
1931 Broadway, Studio New York City.
Railway Mail - 1862
Concetta Scaravaglione
5 West 16th Street,
New York City.
City Delivery Carrier - 1863
Carl L. Schmitz,
37 East 28th Street,
New York City.
TREASURY DEPARTMENT
Washington
m
Press Service
No« 6-11
RELEASE, MORNING- NEWSPAPERS,
Sunday, October 27« 1935»______
10-32-35*
"COMPETITION WINNERS EOR MURALS AND SCULPTURE
IN POST OPEICE AND JUSTICE DEPARTMENT BUILDINGS
The Section of Painting and Sculpture of the Treasury Department announces
that the following painters and sculptors won the competitions for murals and
sculpture in the Post Office and Justice Department buildings in Washington, D.C«
These competitions were initiated to determine the sculptors to execute ’twelve
statues for the Reception Room of the Postmaster General and the painters to execute
eight murals for the Post Office building«
Three murals for the Department of
Justice building were also in competition*
In order to decide the winners for the Post Office, a jury consisting of Alice
Decker, Paul Manship and William Zorach, sculptors, and William Adams Delano,
architect of the Post Office building, examined the models submitted by the fortyseven sculptors who competed«
Twelve different types Of mail carriers were selected
as subjects for the proposed statues«
The jury selected the following artists to
execute statues of the following types of mail carriers!
Root Postman, Colonial
1691 to 1775
Berta Margoulies,
17 West 96th St«
New York City
Post Rider, Continental
1775 to 1789
Stirling Calder,
51 West 10th St«
New York City
Stage Driver, U#S,P«0«
1789 to 1836
Sidney Waugh,
101 Park Avenue
New York City
Pony Express
1850 to 1858
Arthur Lee,
1931 Broadway, Studio 412,
New York City
~2~
Railway .Mail
Concetta Scaravaglione,
5 West 16th Street,
Hew York City
1862
City Delivery Carrier - 1863
Carl L. Schmitz,
37 East 28th Street,
Hew York City
Rural Free Delivery
Gaetano Oecers,
412 West 33rd Street,
Hew York City
Air Mail
Oronzio Maldarelli,
137 East 35th Street,
Hew York City
Alaska Snowshoe Carrier
Chaim Gross,
63 East 9th Street,
Hew York City
Present Day Postman
Attilio Piccerilli,
467 East 142nd Street,
Hew York City
Express Man
Heinz Warneke,
5 Washington Mews,
Hew York City.
Hawaiian, Puerto Rican or
Philippine Postman
Louis Slobodkin,
333 Fourth Avenue,
Hew York City
;
:
In addition to the above statues, figures of Benjamin Franklin and Samuel
Osgood will "be carried out "by William Zorach and Paul Manship, respectively, the
two sculptors who were appointed "by the Section of Painting and Sculpture, without
competition, to do this work.
Post Office Mura-1 s
A jury consisting of the following painters: Edward Bruce, Olin Dows, Leon
Kroll, Bancel LaEarge, Jonas Lie, Ernest Peixotto, Henry Schnakenberg and Eugene
Speicher, judged the competition for eight murals to be placed in the Post Office
and three murals in competition for the Department of Justice building.
accepted designs by the following six artists*
This jury
Alfred D. Crimi,
1962 Pilgrim Avenue,
Bronx, N*Y*
Prank Mechau,
1126 IT* Tejon,
Colorado Springs, Colorado
Ward Lockwood,
Taos, New Mexico*
William C* Palmer,
220 West 16th Street,
HeW York City
George Harding,
1231 Montgomery Avenue,
Wynnewood, Pa*
Karl Pree,
14 West 8th St.
New York City.
Two other artists were appointed — Doris Lee and Tom Lea, and "both were
asked to redesign*
The same jury rejected all of the designs offered in the competition for the
three murals for the Justice Department building and recommended that a limited
invited, competition he initiated to which nine painters will he invited to submit
designs*
The following artists had previously accepted appointments without competition
to execute murals for the Post Office and Justice Department buildings:'
Thomas Benton
J*S. Curry
Leon Kroll
Henry Varnum Poor
Eugene Savage
George Biddle
Rockwell Kent
Reginald Marsh
Boardman Robinson
Maurice Sterne
Porty— seven sculptors competed for appointments for the Post Office Department
models and submitted 62 sculpture models.
Por the murals in the Post Office Depart
ment, 142 artists competed and submitted 315 sketches, while for the muroJLs in the
Justice Department building 55 artists competed with a total of 90 sketches.
Tv/enty— seven States were represented and 21 artists in addition to thpse who won
the competitions were recommended by the jury for future appointments*
The Pirst Annual Exhibition of
The Section of Painting and Sculpture
An exhibition showing the sculpture models and mural designs that have won the
various competitions initiated by the Section of. Painting and Sculpture in various
~4~
sections of the country during its first year of activity, together with a number
of the murals and sculpture models done "by artists appointed without competition
by the Section, will he held in the Corcoran Gallery of Art, Washington, D.C.,
through the courtesy of the Museum’s Trustees, beginning October 29th and
concluding November 21st*
Press view October 24th. Public view October 29th*
[Photographs are available at the Section of Painting and Sculpture, Room 203,
Federal Warehouse, 9th and D Sts* S«W. Washington, D.C*
ooOoo
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
October 21, 1935.
receipts o e s i l v e r b y t h e m i n t s a n d a s s a y o f f i c e s :
(Under Executive Proclamation of December
21,
1933) as amended
Week ended October 18, 1935:
Philadelphia ..........*..........................
San Erancisco. •... •.......... ......*............
Denver.. .... ......................§...........
Total for week ended October 18, 1935..............
Total receipts through October 18, 1935............
318,874.23 fine ounces
380,700.95 1
1 n
7,519.37
707,094.55 11
50,127,000*00 n
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended October 18, 1935:
509*72 fine oun
Philadelphia........ ....................... .
ti
5,188*60 11
New York........... ......... ............. ......
tr
840*00 0
San Erancisco ....... ............................ •
i
t
367*40 11
Denver........................................ . ••
t
t
333.82 M
New Orleans ......................................
i
t
137*43 n
Seat 11 ........ .
.............................
t
t
7,376.97 «
Total for week ended October 18, 1935......... .
tt
Total receipts through October 18, 1935............ 113,010,483.97 ”
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OFFICES:leek ended October 18,- 1935:
Imports_______ Secondary
Philadelphia. .. .;,r..... .........$
24,932.88 $155,019*43
New York . ........ ......... .
119,432,400.00 207,800,00
San Erancisco................ •
540,848,80
44,103*91
Denver.......
............
18,317*16 32,287*60
New Orleans *....
.
4,135.01
39,479.70
Seattle.........................
12,528*96
Total for week ended October 18**$120,020,633*85 $491,219.60
New
Domestic
$
277.10
182,200.00
1,268,759.25
602,621*23
392.33
225.686*49
$2,279,936.40
COLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURERIS OFFICE:
(Under Secretary^ Order of December 28, 1933)
Received by Federal Reserve Banks: Gold Coin
Week ended October 16..... .-....$,
18,487.98
Received previously......... ... 30,826,931 *09
Total to October 1 6 .... ..$30,845,419.07
Received by Treasurer^ Office:
Week ended October 16*•••....•• •$
Received previously ............
Total to October 16.... .......*$
ROTE:
Gold Certificates
$
360,490.00
98.232,150*00
$98,592,640*00
$
265,456*00
265,456.00
Gold bars deposited with the Ne?/ York Assay Office
in the amount of $200,572*69 previously reported*-
19,000*00
2.254.700*00
$ 2,273,700.00
la
1"X ^
On the basis of the present exchange value of the zloty)
the bounty would amount to about 37 cents per bushel on rye
grain and about $1.75 per barrel on rye flour.
Rye grain imports from Poland in 1934 were
5,542,172 bushels, valued at $2,403,837z During the first six)
months of 1935 rye grain imports from Poland were 5,527,514
bushels, valued at $2,574,094.
Imports have since
decreased, on account of lowered prices.
Imports of rye flour from Poland in 1934 were 653,246
pounds.
There have been no imports of rye flour from Poland
this year.
110448
(V . 8.
£«BllÌ«]riF|fctXiX£
m
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«f qr» gr*A* «nft Mllfjrlag Collider* «f
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tf'
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#f- tlrtlTiflllj Isw. ttìhi lti|Wi%ìtfi 9Ì T9%mm& ifltT tìUUfty 4Éay$ *ffc*r
IttlUMllM «f HI» lMUst^«B '«Iti tw ««IjMt 1« miitrv«iUq|
éaàUm i» a«#«ff6«a*« v itti Ito« fmmU&m* t f i t i l i « « SOS # f là» f « r if £
m i «r m
»¡egiaHyy
i
m
or t u
1¿AKttttSOS, 1 .
m mmmt
C*
£0 S 0S«Ia3Hi»tCStSt CUf Oil:3£dl0 JiJK& 3t®PSSfC*,0 PCBUì^®S*
a» Hp^MRHi 1« ili l i t i c i «f officiai r«^«rli «feiifc #st*àH# t* 11« « « llifiiliii Ib i là* lijfnèU« «f Pelavi pay» bu ll»«
«pò« tà« «X|*rt&tieft «f Sf» gr&ia.
Usti «OUitifts «m
al« lar 'Ébt l*®aìiìi« af iteriate« un§
i<4 %
u
»
«I là* ?**«#»! U m Sietjr fatti f*r 100 àilo^raa« i m i veigàt.
l«i>ort&ti©tt* d i m U i or l a t o t l l i
tr
•f «ay r?» *r»i* after tàirty day* afler
rullìi
T i«f i t i I
TP(
i?i
iea
i^l
lP^
i*m
i
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w«ji
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n.■vmip' te
tetFt
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«f «te. sjti trai» ty t e i ««teff*
i Sài
feltuti
f#«%I« b «f «jt-ty Ritiri
Imi « ® 1J«6Ì 1 « l à # i ^ y v e s i
ii&jUi « p O Q U m eJ3>0I*t &t lofi
*«gp l— r t« l t o l i w u i w a f t e te n t i« « » r t liU i or I r t a d u t
8* tanr* t e s i pald t e » U » n ^ r t r t l n af q v | » U f m t e I m M t i
of Poiana urlìi ha jrtH ilMi f m « t e «a « t e .
U « d te *a » af «Al
t e t t e MWt«t «i» «te» importai ttttelp or liU m ilf i t e t e
Bacatila a t e t e « te r ttirtr te « « te r t e p t e t e t t e af « te
t e li t e la» a te i «a w p««8«l paaitat t»l> »U rtln ar aaM te te
t e ite te li« » af t e « tate af t e «tate' « te by t e Saptela «f
f a tte a» t e aapaatakte t e t t e . * l t e < «* t e « « te s te «traaiart e t t e ; t e r . ««t e l a t e te aaaatteaa attìi t e te a » af tesila« pai*
«a t e l a t e atea» « te i «a rataI t e a* t e « te af «atry. t e fasta
ut aaa* a te t i w l aHra « te i «a tapart'a« pxaaytly «a t e tesa» af
iiwo r
Po— rt««tii«r «f Cast«*#,
mmmm
OCT 2 2 1935
(Sigiied) T. J. CoóMge
S#«3P«i#3f|r
&f là«- ty«««sufy.
V~'L
approved, findings by the Collector of Customs that
the Republic of Poland, is paying export bounties upon rye
grain and rye flour, and has directed the collection of
countervailing duties on
imports of these commodities from
P o land.
_
dealing with rye gr
Following is the text of & treasury Decision^
directed to Collectors of Customs and others concerned:
(quote)
itxsxmiixx
The text of the treasury decision ssxsxisg dealing w
rye flour is identical, except that the
words "/ye flour" appear instead of nrye grain" and that
the second paragraph reads as follows:
"The bounties paid by the Republic of Poland are
estimated toA)e et the present time Zloty 1 0 . DO per 100
kilograms gross weight."
TREASURY DEPARTMENT
Washington
Tress
jOR RELEASE, MORNING NEWSPAPERS,
W ednesday, October 23, 1935»____
Service
N°* 6—12
10- 22- 35 .
The Secretary of the Treasury has approved findings "by the Collector of Customs
that the Republic of Poland is paying export bounties upon rye
grain and rye flour,
and has directed the collection of countervailing duties on imports of these
commodities from Poland«
Pollowing is the text of the Treasury Decision dealing with rye grain directed
to Collectors of Customs and others concerned:
m The
Department is in receipt of official reports which establish to its
satisfaction that the Republic of Poland pays bounties upon the exportation
of rye grain.
The bounties paid by the Republic of Poland are estimated to be at the
present time Zloty 7.89 per 100 kilograms gross weight.
Importations directly or indirectly from the Republic of Poland of any rye
grain after thirty days after the publication of this declaration in the
weekly Treasury Decisions will be subject to the payment of countervailing
duties equal to the bounty paid upon the exportation of such rye grain by
that country.
Supplemental declarations of the bounties estimated or determined to have
been paid upon the exportation of rye grain from the Republic of Poland
will be published from time to time. Liquidation of all entries covering
rye grain imported directly or indirectly from the Republic of Poland after
thirty days after the publication of this declaration shall De suspended
pending determination or estimation and publication of the amount of the
bounty paid by the Republic of Poland on the exportation thereof. A deposit
of the estimated countervailing duty, calculated in accordance frith the rates
of bounties paid as declared above, shall, be required at the time of entry.
The facts of each such importation shall be reported promptly to tne Bureau
of Customs.”
The text of the Treasury Decision dealing with rye flour is identical, except
that the words ”rye flour” appear instead of ”rye grain” and that the second para
graph reads as follows:
"The bounties paid by the Republic of Poland are estimated to be at the
present time Zloty 10.00 per 100 kilograms gross weight."
ooOoo
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
October 28, 1935.
RECEIPTS OE SILVER BY THE MBITS ARP ASSAY PEE ICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended October 25, 19352
Philadelphia
........... *.....
San Francisco ml........ ......................
Denver
«».
.
.
.
•
•
Total for week ended October 25, 1 9 3 5 . i
•
Total receipts through October 25, 1935... t...<•.• •.*.
410*328©61 fine ounces
555, 111 .91 ”
’’
6*943.65 ?’
11
972,384*17 11
$
51,099,000*00 ”
11
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended October 25, 1935:
Philadelphia*....... ................
Rev; York*....................
San Francisco.......................
Denver. ..*••••••...... ..............
R ew Orl eans •....... ............... .
Seattle.............. ............ ..
Total for week ended October 25, 1935..
Total receipts through October 25, 1935
334*82 fine ounces
it
405.00
739,03
314,56
116,05
1,909.46
113,012,393.43
it
"
H
«
”
»
M
RECEIPTS OF G-OLD BY THE MINTS AUP ASSAY OFFICES;
Week ended October 25, 1935g
Imports
Philadelphia*......... ...... .$
7,834. 75
Hew York. *......
38,034,000.00
San Francisco..... ......
146,373*75
62,553.05
Denver........... .............
Re?/ Orl eans............... .
Seattle........................
-----Total for week ended October 25..$38,250,761*55
Secondary
$179,298,60
466,500,00
40.786,49
52,199*52
38,279.05
14,238*66
$791r302«32
Rew
Domestic
$
1,154,68
189,700,00
1,779,256,67
505,589,17
884,75
980*680,17
$3,457,265.44
GOLD RECEIVED BY THE FEDERAL RESSRVE BARKS AND THE TREASURER’S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve. Banks: G-old Coin
Week ended October 23......... .$
13,440*04
Received previously............ . 30,845,419.07
Total to October 23........... .$30,858,859.11
Received by Treasurer’s Office:
Week ended October 23......... .$
Received previously...........
Total to October 23..... ...... .$
ROTE:
600*00
265,456*00
266,056.00
Gold bars deposited with the Rew York Assay Office
in the amount of $200,572.69 previously reported.
Gold Certificates
$
235,540,00
98.592.640*00
$98,828,180*00
$
4,400.00
2,273,700.00
$ 2,278,100.00
TREASURY DEPARTMENT
WASHINGTON
T<M RELEASE, MORNING NEWSPAPERS,
Tuesday, October 29, 1955.
R reag SerTl
£ ^ ^ |
S e c r e ta r y of th e T reasury Morgenthau announced l a s t evening t h a t th e tender*
10
lu
10
f o r two s e r i e s o f T reasu ry b i l l s , to be dated O ctober SO, 1 0 5 5 , which were offered
on O ctober 2 5 , were opened a t th e F ed e ra l R eserve banks on O ctober 2 8 , 1 9 3 5 ,
io:
Tenders were In v ite d f o r th e two s e r i e s t o th e ag g re g a te amount o f $100,000,01
on
o r th e re a b o u ts , and # 5 3 2 ,1 9 5 ,0 0 0 was a p p lied f o r , o f which # 1 0 0 ,3 7 1 ,0 0 0 was
accep ted *
The d e t a i l s o f th e two s e r i e s a re a s fo llo w s :
or
138-BAY TREASURY BILLS, MATURINO MARCH 1 6 , 1936
aci
F o r t h i s s e r i e s , which was f o r # 5 0 ,0 0 0 ,0 0 0 , or th e re a b o u ts , th e t o t a l amount
ap p lied f o r was # 1 8 9 ,3 0 2 ,0 0 0 , o f which # 5 0 ,3 2 5 ,0 0 0 was accep ted *
The accep ted bid*
ranged in p r i c e from 9 9 * 9 6 9 , e q u iv a le n t to a r a t e o f about 0*0 8 1 p e rc e n t per annua,
t o 9 9 * 9 5 9 , e q u iv a le n t to a r a t e o f about 0*107 p e rc e n t p er annum, on a bank discenn
b a s ia *
The av erag e p r i c e o f T reasu ry b i l l s o f t h i s s e r i e s t o be issu ed i s 99.961
and th e av erag e r a t e i s about 0*1 0 1 p e rc e n t p er annum on a bank d isco u n t b a s is .
273-DAY TREASURY BILLS, MATURING JULY 29* 1956
rai
to
coi
99,
F o r t h i s s e r i e s , which was f o r # 5 0 ,0 0 0 ,0 0 0 , or th e re a b o u ts , th e t o t a l amount
a p p lie d f o r was $ 1 4 2 ,5 9 1 ,0 0 0 , o f which $ 5 0 ,0 4 6 ,0 0 0 was accep ted *
ap]
baj
The accep ted bid:
ranged in p r ic e from 9 9 * 9 0 1 , e q u iv a le n t to a r a t e o f about 0*1 5 1 p e rc e n t p er annus,
t o 9 9 * 3 6 6 , e q u iv a le n t t o a r a t e o f abou t 0*177 p e rc e n t p e r annum, on a bank disooun
b a s is *
Only p a r t o f the amount b id f o r a t th e l a t t e r p r i c e was a ccep ted *
The
api
bic
averag e p r i c e o f T reasu ry b i l l s o f t h is s e r i e s to be issu ed i s 9 9 *8 7 2 and the
anr
average r a t e i s about 0*1 6 9 p e rc e n t p e r annum on a bank d isco u n t b a s is *
die
The
ave
TREASURY DEPARTMENT
>r?ioi
Washington
3
ieri
‘©red
FOR RELEASE, MURITIi'TG NEWSPAPERS,
hiesday* October 29, 1955»______
Press Service
Ho* 6-13
1028 - 35 *
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury "bills, to he dated October 30, 1935, which were offered
00,0(
on October 25, were opened at the Federal Reserve banks on October 28, 1935«
Tenders were invited for the two series to the aggregate amount of $100,000,000
or thereabouts, and $332,193,000 was applied for, of which $100,371,000 was
accepted*
The details of the two series are as follows:
iffit
138-DAY TREASURY B ILLS, MATURIMI MARCH 16, 1936
bids
Por this series, which was for $50,000,000 or thereabouts, the total amount
nnua,
applied for was $189,802,000, of which $50,325,000 was accepted*
The accepted bids
sc«un
ranged in price from 99*969, equivalent to a rate of about 0*081 percent per annum,
961
•
to 99*959, equivalent to a rate of about 0*107 percent per annum, on a bank dis
count basis*
The average price of Treasury bills of this series to be issued is
99*961 and the average rate is about 0*101 percent per annum on a bank discount
unt
basis*
bid)
273-DAY TREASURY BILLS, MATURING JULY 29, 1936*
onus,
For this series, which was for $50,000,000, or thereabouts, the total amount
scoun
applied for was $142,391,000, of which $50,046,000 was accepted*
The accepted
bids ranged in price from 99*901, equivalent to a rate of about 0*131 percent per
annum, to 99*866, equivalent to a rate of about 0*177 percent per annum, on a bank
discount basis*
Only part of the amount bid for at the latter price was accepted*
The average price of Treasury bills of this series to be issued is 99*872 and the
average rate &e' about 0*169 percent per annum on a bank discount basis*
ooOoo
The valu e o f e x p o r ts from th e U nited S t a t e s t o Cuba
ag g reg ated # 5 5 ,4 4 8 ,0 4 4 during th e 12 months p reced in g th e
ad op tion o f th e tra d e agreem en t, and # 5 6 ,5 0 4 ,4 6 2 during th e
subsequent 12 m onths, an in c re a s e o f 5 8 *8 p er c e n t .
If a
proper allow ance i s made f o r th e abnormal in c r e a s e o f im p orts
of Cuban s u g a r, th e in c re a s e d valu e of e x p o r ts t o Cuba com
p a re s fa v o ra b ly w ith th e in c re a s e d im p orts from th a t cou n try*
The fo llo w in g ta b le p resen ts^
statem en t o f th e
q u a n tity , valu e and computed revenue f o r j > f h commoditjJL-^
covered by th e Cuban tra d e agreem ent f o r th e two 12 months
p e rio d s ended August 5 1 , 193 4 and 1 9 3 5 , to g e th e r w ith p ercen
ta g e s o f in c re a s e o r d e c r e a s e :
f \f
oti
ki
cfi
d
^0
(j
(5)
La
a
|
1 7 .9 p er c e n t .
Of th e 28 com m odities f o r which comparable
d a ta a re a v a i la b le f o r th e two p e r io d s , only 8 showed a d e c lin e
in q u a n tity or in valu e*
On th e o th e r hand, only 3 r e l a t i v e l y
unim portant v e g e ta b le s showed l a r g e i n c r e a s e s in both r e s p e c ts *
The r e d u c tio n o f r a t e s provided by th e Cuban tra d e agreem ent,
t h e r e f o r e , e v id e n tly has n ot s e r io u s ly a f f e c t e d th e p rod u cers
in th e U nited S t a t e s o f th e p ro d u cts on which r a t e s o f duty
were red u ced .
The valu e of com m odities im ported from Cuba s u b je c t t o
d u ty , which were n o t in clu d ed in th e tr a d e agreem ent, in c re a s e d
by 1 0 6 * 8 p er c e n t , from # 5 ,1 7 4 ,8 8 9 during th e 12 months p reced
in g i t s ad op tion t o # 1 0 ,7 0 1 ,2 6 0 during th e subsequent 1 2 months.
M olasses re p re s e n te d # 4 ,5 0 4 ,4 2 2 in th e e a r l i e r and # 9 ,9 7 8 ,5 1 9
in th e l a t e r p e rio d , o r 87 p er ce n t and 9 3 * 2 per ce n t o f th e
r e s p e c tiv e t o t a l s *
Of th e 28 commodities f o r which comparable f ig u r e s a r e
a v a i l a b l e , 18 showed an in c r e a s e in th e av erage u n it v alu e f o r
th e 12 months fo llo w in g th e adop tion o f th e tr a d e agreem ent, a s
compared w ith th e e a r l i e r p e rio d .
The re d u c tio n in th e r a t e s ef
duty imposed by th e U nited S t a t e s th u s appears t o have been o f
d i s t i n c t b e n e f it t o th e Cuban p rod u cers w ithout in c r e a s in g th e
landed c o s t o f th e s e commodities in th e U nited S ta te s *
h a l f o f th e normal amount, w hile th o s e f o r the 12 months
fo llo w in g th e ad op tion o f th e tra d e agreem ent re p re s e n te d
a la r g e p o rtio n o f th e combined quota f o r th e two ca le n d a r
y ears.
T h is acco u n ts f o r th e f a c t t h a t th e volume o f sugar
im ported during th e 12 months fo llo w in g th e tr a d e agreem ent
was more th an th re e tim es a s l a r g e a s t h a t im ported during
th e 1 2 months im m ediately p reced in g i t .
The value o f im p orts from Cuba o f a l l commodities e x
ce p t s u g a r, on th e o th e r hand, in c re a s e d from $ 2 1 ,1 9 0 ,1 4 0 in
th e e a r l i e r p erio d t o $ 3 0 ,2 0 3 ,8 1 0 in th e l a t e r p e r io d , an
in c re a s e of 4 2 .5 p er c e n t .
Of such im p o rts, th e v alu e o f goods on which no duty was
imposed a g g re g a te d $ 5 ,5 2 9 ,1 8 0 during th e 12 months ended
August 3 1 , 1 9 3 4 , and $ 7 ,1 4 3 ,6 1 6 during th e fo llo w in g 12 months,
an in c re a s e o f 2 9 .2 p er c e n t .
These im p orts c o n s is te d c h i e f l y
o f bananas and c e r t a i n o th e r t r o p i c a l f r u i t s ; s i s a l and binder
tw ine made thereitom ; and o f i r o n , co p p e r, manganese and chrome
o re.
The v alu e o f d u tia b le com m odities, e x c lu s iv e o f s u g a r, on
which r a t e s o f duty were reduced by th e tra d e agreem ent, a g g re
g ated $ 1 0 ,4 8 6 ,0 7 1 , during th e 12 months p reced in g i t s adop tion
and $ 1 2 ,3 5 8 ,9 3 4 during th e fo llo w in g 12 months, an in c r e a s e o f
(3 )
agreem ent, th e E ig h te e n th Amendment b ein g re p e a le d in December,
1939.
The in c re a s e d im p o rta tio n s o f t h i s commodity, t h e r e f o r e ,
a r e p a r t i a l l y due t o d if f e r e n c e s in th e tim e elem en t.
The valu e o f a l l im p orts from Cuba, f o r th e 12 months
ended August 3 1 , 1 9 3 5 , ag g reg ated # 1 5 0 ,9 6 6 ,1 2 9 , an in c r e a s e of
2 1 3 * 3 p er ce n t over t h e i r valu e during th e p reced in g 1 2 months
( $ 4 8 ,1 7 8 ,1 2 7 ) *
Sugar im p orts amounted to $ 1 2 0 ,7 6 2 ,3 1 9 in th e
l a t e r and $ 2 6 ,9 8 7 ,9 8 7 in th e e a r l i e r p e r io d , an in c r e a s e o f
347*5 p e r c e n t , and c o n s titu te d 80 p e r ce n t and 56 per c e n t o f
th e r e s p e c ti v e t o t a l s .
Im ports o f su gar from Cuba during th e p a s t two y e a r s ,
were in flu e n ce d by unusual c irc u m s ta n c e s .
During th e 8 months
im m ediately p reced in g th e ad op tion o f th e tra d e agreem en t, im
p o r ts o f Cuban sugar were abnorm ally s m a ll, a g g re g a tin g only
7 0 5 ,1 3 4 ,1 2 7 pounds, o r about o n e -fo u rth o f th e u su al amount.
T h is w as, o f c o u rs e , due t o th e n e g o tia tio n s then under way and
th e e x p e c ta tio n th a t r a t e s o f duty would be m a te r i a ll y red u ced .
More th an f o u r - f i f t h s o f th e Cuban su gar quota f o r th e ca le n d a r
y e a r 1 9 3 4 was c o n c e n tra te d in th e 4 months im m ediately fo llo w
in g th e ad op tion o f th e Cuban tra d e agreem en t, and in a d d itio n
p r a c t i c a l l y a l l o f th e 1935 quota was im ported b e fo re th e end
o f A ugust, 1 9 3 5 .
The im p o rta tio n s f o r th e 12 months p reced in g
th e ad op tion o f th e tr a d e agreem ent, t h e r e f o r e , were on ly about
(2 )
T o ta l d u tie s c o l l e c t e d on th e im ported commodities
s p e c if ie d in th e r e c i p r o c a l t r a d e agreem ent w ith Cuba a g g re
g ated 1 6 7 ,1 9 4 ,0 2 0 f o r th e 12 months ended August 3 1 , 1 9 3 5 , i t
was announced by th e Bureau of Customs to d a y .
T h is t o t a l ,
co v e rin g th e f i r s t f u l l y e a r o f th e o p e ra tio n o f th e tr a d e
agreem ent which became e f f e c t i v e on September 3 , 1 9 3 4 , com
p a re s w ith $ 4 7 ,8 9 9 ,1 5 9 o f d u tie s c o l l e c t e d on th e same
commodities during th e p reced in g 12 m onths, an in c re a s e o f
4 0 * 3 p er c e n t .
The m ajor p o rtio n o f d u tie s c o l l e c t e d on Cuban im p orts
was accou n ted f o r by a s in g le commodity, s u g a r.
The revenue
from t h i s sou rce ag g reg ated $ 4 0 ,8 7 6 ,9 2 3 during th e e a r l i e r
and $ 6 1 ,6 9 9 ,6 6 7 during th e l a t e r p e rio d .
D u ties c o l l e c t e d on
th e o th e r commodities covered by th e tra d e agreem ent d ecreased
from $ 7 ,0 2 2 ,2 0 7 t o $ 5 ,4 9 4 ,3 7 6 , a d e c lin e o f 2 1 .8 per c e n t .
Im p o rta tio n s o f 6 o f th e 27 com m odities, e x c lu s iv e o f s u g a r,
f o r which comparable d a ta a r e a v a i l a b l e , in c re a s e d s u f f i c i e n t l y
t o provid e l a r g e r duty c o l l e c t i o n s , d e s p ite th e lowered r a t e s .
Four kinds of f r e s h v e g e ta b le s , p o ta to e s , to m ato es, peppers and
squash, y ie ld e d in c re a s e d revenue w hile lim es and rum provided
th e o th e r i n c r e a s e s .
In th e c a s e o f rum, im p o rtatio n s took
p la c e during only 9 o f th e 12 months p reced in g th e tra d e
(1 )
Ir
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
•.Th.urs.day, October 31» 1935.
10-29-35.
Press Service
No. 6 - 1 4
Total duties collected on the imported commodities specified in the reciprocal
trade agreement with Cuba aggregated $67,194,020 for the 12 months ended August
31, 1935, it was announced by the Bureau of Customs today.
This total, covering
the first full year of the operation of the trade agreement which became effective
on September 3, 1934, compares with $47,899,155 of duties collected on the same
commodities during the preceding 12 months, an increase of 40.3 per cent.
The major portion of duties collected on Cuban imports was accounted for by
a single commodity, sugar.
The revenue from this source aggregated $40,876,923
during the earlier and $61,699,667 during the later period.
Duties collected on
the other commodities covered by the trade agreement decreased from $7,022,207
to $5,494,376, a decline of 21.8 per cent.
Importations of
6
of the 27 commodi
ties, exclusive of sugar, for which comparable data are available, increased
sufficiently to provide larger duty collections, despite the lowered rates*
Four
kinds of fresh vegetables, potatoes, tomatoes, pieppers and squash,.yielded
increased revenue while limes and rum provided the other increases.
In the case
of rum, importations took place during only 9 of the 12 months preceding the trade
agreement, the Eighteenth Amendment being repealed in December, 1933.
The
increased importations of this commodity, therefore, are partially due to
differences in the time elemento
The value of all imports from Cuba, for the 12 months ended August 31, 1935,
aggregated $150,966,129, an increase pf 213.3 per cent over their value during
the preceding 12 months ($48,178,127).
Sugar imports amounted to $120,762,319
in the later and $26,987,987 in the earlier period, an increase of 347.5 per cent
and constituted 80 per cent and 56 per cent of the respective totals.
Imports of sugar from Cuba during the past two years, were influenced by
nnusual circumstances.
During the
8
months immediately preceding the adoption of
the trade agreement, imports of Cuban sugar were abnormally small, aggregating
only 705,134,127 pounds, or about one-fourth of the usual amount.
This was, of
course, due to the negotiations then under way .and the expectations that rates
of duty would be materially reduced*
More than four-fifths of the Cuban sugar
quota for the calendar year 1934 was concentrated in the 4 months immediately
following the adoption of the Cuban trade agreement, and in addition practically
all of the 1935 quota was imported before the end of August, 1935*
The importa
tions for the 12 months preceding the adoption of the trade agreement, therefore,
were only about half of the normal amount, while those for the 12 months follow
ing the adoption of the trade agreement represented a large portion of the cornlined quota for the two calendar years*
This accounts for the fact that the
volume of sugar imported during the 12 months following the trade agreement was
more than three times as large as that imported during the 12 months immediately
preceding it*
The value of imports from Cuba of all commodities except sugar, on the other
hand, increased from $21,190,140 in the earlier period to $30,203,810 in the later
period, an increase of 42*5 per cent*
Of such imports, the value of goods on which no duty was imposed aggregated
$5,529,180 during the 12 months ended August 31, 1934, and $7,143,616 during the
following 12 months, an increase of 29*2 per cent*
These imports consisted
chiefly of bananas and certain other tropical fruits; sisal and binder twine made
therefrom; and of iron, copper, manganese and chrome ore*
The value of dutiable commodities, exclusive of sugar, on which rates of
thity were reduced by the trade agreement, aggregated $10,486,071, during the 12
months preceding its adoption and $12,358,934 during the following 12 months,
arL increase of 17*9 per cent*
Of the 28 commodities for which comparable dataware
available for the two periods, only 8 showed a decline in Quantity or in value*
~3~
On the other hand, only 3 relatively unimportant vegetables showed large increases
in both respects.
The reduction of rates provided by the Cuban trade agreement,
theiefore, evidently has not seriously affected the.producers in the United States
of the products on which rates of duty were reduced»
The value of commodities imported from Cuba subject to duty, which were not
included in the trade agreement, increased by 106»8 per cent, from $5,174,889
during the 12 months preceding its adoption to $10,701,260 during the subsequent
12 months.
Molasses represented $4,504,422 in the earlier and $9,978,519 in the
later period, or 87 per cent and 93.2 per cent of the respective totals«
Of the 28 commodities for which comparable figures are available, 18 showed
an increase in the average unit value for the 12 months follov/ing the adoption
of the trade agreement, as compared with the earlier period»
rates of duty imposed by the United States thus
The reduction in the
appears to have been of dis
tinct benefit to the Cuban producers without increasing the landed cost of these
commodities in the United States»
The value of exports from the United States to Cuba aggregated $35,448,044
during the 12 months preceding the adoption of the trade agreement, and
$56,304,462 during the subsequent 12 months, an increase of 58.8 per cent.
If a
proper allowance is made for the abnormal increa.se of imports of Cuban sugar,
tne increased value of exports to Cuba comperes, favorably with the increased
imports from that country»
The following table presents in digest form a statement of the imports and
computed revenue for commodities covered by the Cuban trade agreement for the
12 months periods ended August 31, 1934 and 1935, together with percentages
pf increase or decrease:
•
•
î
!
jValue of Imports from Cuba
Cane Sugar
Other commodities in
trade agreement
Total Commodities in
trade agreement
Other dutiable goods
Free goods
Total imports
Value of Exports to Cuba
Duties Collected on
Imports
Cane Sugar
Other Commodities in
trade agreement
Other Dutiable G-oods
(estimated)
Total Duties
12 Months Elided August 31
.
1935
1934
:
!
!
Per Cent
Increase
1934-1935
$26,987,987
$120,762,139
347.5
10*486^071
12.358.934
17.9
$37,474,058
5,174,889
5,529,180
' $48,178,127
$133,121,253
10,701,260
7.143,616
$150,966,129
255*2
106*8
29.2
213.3
35.448.044
56,304,462
58.8
$40,876,923
$ 61,699,667
50*9
7,022,207
$47,899,155
5.494.376
$ 67,194,023
905,000
$48,304,155
1,870.000
$ 69,064,023
(-)
21.8
40.3*
106.6
/IT n
41.5
NOTE! Minus sign (— ) indicates decrease»
Note to Correspondents!
A detailed.statement covering specific commodities affected
by the t m d e agreement is available at Room 289, Treasury
Department.
ooOoo
A. D. Kilham
B ird & Son
E a s t W alpole, Mass.
T . H. Danchy
I n te r n a tio n a l N ickel Co
New Y o rk , N. Y .
C h arles I . W e ille r
A utom atic Burner Corp.
C h icago, 1 1 1 .
J . F . C an tw ell,
I n d ia n a p o lis , Indiana
Henry E . V oegeli
American B ra ss Co.
W aterbury, Conn.
H. E . Gosch
W eatherbest C o rp oration
Tonawanda, New York
C. W. Seeley,
American B ra s s Co.
W aterbury, Conn.
I . W. P e f f ly
American Stove Co.
S t . L o u is , Mo.
Edwin H. White
The S i s a l k r a f t Co.
C h icago, 1 1 1 .
E . E . Greenwood
Edison E l e c t r i c I n s t i t u t e
New Y o rk , N. Y .
J a s . W/ S p eer,
N atio n al E l e c . Mfg Co.
New Y ork , N. Y*
J . F . Quinlan
G eneral E l e c t r i c Co
New Y o rk , N. Y .
Leonard C. Bennie
W all Paper I n s t i t u t e
New Y ork , N0 Y .
H erb ert U. Nelson
N a t* l A s s o c ia tio n o f R eal Estate Bi
* C hicago, 1 1 1 .
B . B . Caddie
Copper & B ra s s B esearch i s s ' n ,
New Y o rk , N. Y #
Chas. H. Pascoe
American Window G lass Co.
P itts b u r g h , P a .
J . A. D oucett
Revere Copper & B ra s s Co
New Y o rk , N. Y .
H, H. Hobart
C u rtis Companies, I n c .
C lin to n , Iowa.
L . D. 0*Harrow
Southern Pine Ass fn
K e lty s , Texas
M arsh all Adams
American R ad ia to r fi S . S . Corp.
New Y o rk , N. Y .
S« M. Eaton
Southern Pine A ssfn
K e lty s , Texas
T. C. C a rte r
The E a g le -P ic h e r S a l e s Co.
C in c in n a ti, Ohio.
Prank Carnahan
N at*1 R e t a i l Lumber D ealers A ss, n ,
W ashington, D. C.
A. E . Newby
N atio n al F i r e P ro ofin g Corp.
P itts b u r g h , P a.
B . Hartman
Standard S a n ita ry Mfg Co
New Y o rk , N. Y*
Win. L a n c a s te r
Graybar E l e c t r i c Co.
New Y o rk , N. Y .
W. E . McLain
Tennessee Coal Iro n & R ailro ad Supply
Birmingham, Alabama
/
Mr. 0 * Connor
X n su lite Co
C h icago, 1 1 1 .
M. B . E l l s ,
Tirakin S ile n t Autom atic Co.
D e t r o i t , Michigan
Wm. K. Hoyt
H. A. Thrush & Co
P e ru , In d ian a
D. H. Maddington
American Gas P ro d u cts
New Y ork , N .Y.
F r e d e r ic A. D eininger
The E s t a te Stove Co
H am ilton, Ohio
R. D. Terhune,
American Gas Company
New Y o rk , N. Y .
H. Dorsey Newson
F e d e ra l Housing A dm inistration
W ashington, D. C.
R. E . Espy
R ich ard s-W ilco x Mfg Co
A u rora, Illin o ij|
R. H. Bishop
D e tr o it S t e e l P rod u cts Co.
D e t r o i t , Michigan
R, E . Wormser
Lead In d u s tr ie s Ass*n
New Y o rk , N.Y.
P . B . Pace
P itts b u rg h P la te G lass Co.
P i tts b u r g h , Pa
C. W. Meyers
American S te e l Wire Co
C h icago, 1 1 1 .
C. E . M eissner
American Sheet & T in p la te Co
P itts b u r g h , P a .
R. W. Smith
N atio n al Lumber Mfg Ass*n
C hicago, 1 1 1 .
Joseph J . Cermak
S t r u c t u r a l Clay P ro d u cts Co
Canton, Ohio
Raymond L . M ille r
C. H. Dunham Co
C h icago, 1 1 1 .
Jord an A. Pugh
S t r u c tu r a l Clay P rod u cts In c.
W ashington, D. C.
P . J . Ayton
F i a t M etal Mfg Co
C h icago, 111
Irw in W. C lark
W estinghouse E l e c t r i c & Mfg Co
M an sfield , Ohio.
G, A. Wagner
K ohler Company,
K o h ler, W isconsin
J o s . M. Baker
M ilcor S t e e l Co.
Milwaukee, W isconsin
I . N. T ate
Weyerhauser S a le s Co
S t . P a u l, M innesota
J . M. F lip p in
The F l in tk o te Co
New Y o rk , N. Y .
H erb ert A. Faber
The Form ica I n s u la tio n Co
C in c in n a ti, Ohio
R u s s e ll G. C rev isto n
Crane Company
C hicago, 1 1 1 .
K. E . Moore
Johns-M anville Co
New Y o rk , N. Y .
H. F . Knapp
C arnegie I l l i n o i s S t e e l Corp
2
or more population*
The meeting today was for the purpose of speeding plans for an
early housing display program with all leading building material
manufacturers participating, and followed the earlier conference of
representatives of the durable goods manufacturers held on September
19th, at the invitation of Peter Grimm, Assistant to the Secretary
of the Treasury, to give a stimulus to m o d e m housing construction*
At the organization meeting of the Housing Display Council, it
7Uj>was estimated that
the existing housing shortage^ not less
than 750,000 housing units would1be-fewa&fr in the United States in the
coming year*
Representatives of both the Treasury Department and the Federal
Housing Administration pledged active cooperation with the manufac
turers and the local committees in carrying out their plans*
Representatives of industrial concerns present at today’s meeting
included:
4
'-?w. £, - / sr
I 0 / 3 o/2> $
Plans for a series of housing expositions in cities throughout
the United States were laid today at a meeting in the Treasury Build
ing of the Manufacturers1 Housing Display Council, recently organized
by representatives of industries interested in home construction*
Russell G. Creviston of the Crane Company, Chicago, who was
chosen chairman at the organization meeting, presided*
The meeting was attended by representatives of more than fifty
manufacturers and by representatives of the Treasury Department, and
of the Federal Housing Administration*
It was decided to leave to the executive committee, headed by H*M.
Shackelford of Johns-Manville, Inc., New York City, the determination
of the cities in which the first expositions will be held, and the dates
of the expositions.
Tentative plans contemplate the staging of winter
expositions in a number of southern cities, to be followed by displays
in other parts of the country*
The executive committee submitted to the Council a report dealing
with matters considered at the committee's recent meeting in New York*
This report recommended:
That first activities be devoted to housing expositions, with later
consideration of such developments as motor caravans and railway car
exhibits•
That
C**«*
exposition^ must be actively sponsored by a local com
mittee, with representation from appropriate trade and civic bodies*
That expositions in the main be limited to eight days, with ex
tensions to a maximum of fifteen days allowable in cities of 500,000
TREASURY DEPARTMENT
Washington
For Release, Morning Newspapers,
Thursday, October 31, 1955«
Press Service
No. 6 — 15
IO /3 0 /3 5
Plans for a series of housing expositions in cities throughout the
United States were laid today at a meeting in the Treasury Building of the
of industries interested in home construction.
Russell G-. Creviston of the Crane Company, Chicago, who was chosen chair
man at the organization meeting, presided.
The meeting was attended "by representatives of more than fifty manu
facturers and "by representatives of the Treasury Department, and of the Federal
Housing Administration.
It was decided to leave to the executive committee, headed "by H. M.
Shackelford of Johns-Manville, Inc., New York City, the determination of the
cities in which the first expositions will "be held, and the dates of the expo
sitions.
Tentative plans contemplate the staging of winter expositions in a
number of southern cities, to he followed "by displays in other parts of the
country.
The executive committee submitted to the Council a report dealing with
natters considered at the committee’s recent meeting in New York.
This report
recommended:
That first activities be devoted to housing expositions, with later con
sideration of such developments as motor caravans and railway car exhibits.
That each exposition must be actively sponsored by a local committee, with
representation from appropriate trade and civic bodies.
~ 2 ~
That expositions in the main be limited to eight days, with extensions
to a maximum of fifteen days allowable in cities of 500,000 or more population*
The meeting today was for the purpose of speeding plans for an early
housing display program with all leading building material manufacturers
participating, and followed the earlier conference of representatives of the
durable goods manufacturers held on September 19th, at the invitation of
Peter Grimm, Assistant to the Secretary of the Treasury, to give a stimulus to
modern housing construction*
At the organization meeting of the Housing Display Council, it was esti
mated that the existing housing shortage justified the building of not less
than 750,000 housing units in the United States in the coming year*
Representatives Of both the Treasury Department and the Federal Housing
Administration pledged active cooperation with the manufacturers and the local
committees in carrying out their plans*
Representatives of industrial concerns present at today’s meeting included?
M. B. Ells,
Timkin Silent Automatic Co.
Detroit, Michigan
Wm. K. Hoyt
H. A. Thrush & Co.
Peru, Indiana
D. H. Maddington
American Gas Products
New York, N. Y.
Frederic A. Deininger
The Estate Stove Co.
Hamilton, Ohio
E. D, Terhune,
American Gas CompanyNew York, N. Y.
H, Dorsey Newson
Federal Housing Administration
Washington, D. C.
R. E. Espy
Richards-Wilcox Mfg. Co.
Aurora, Illinois
R. H. Bishop
Detroit Steel Products Co.
Detroit, Michigan
R. E. Wormser
Lead Industries Ass’n.
New York, N. Y.
P. B. Pace
Pittsburgh Plate Glass Co.
Pittsburgh, Pa.
C. W. Meyers
American Steel Wire Co.
Chicago, 111.
C. E. Meissner
American Sheet & Tinplate Co.
Pittsburgh, Pa.
R. f. Smith
National Lumber Mfg. Ass’n.
Chicago, 111.
Joseph J. Cermak
Structural Clay Products Co.
Canton, Ohio
Raymond L. Miller
C. H* Dunham Co.
Chicago, 111.
Jordan A. Pugh
Structural Clay Products Inc.
Washington, D. C.
P. J. Ayton
Fiat Metal Mfg. Co,
Chicago, 111,
Irwin W. Clark
Westinghouse Electric & Mfg. Co.
Mansfield, Ohio
C. A. Wagner
Kohler Company,
Kohler, Wisconsin
Jos. M. Baker
Milcor Steel Co.
Milwaukee, Wisconsin
I. N. Tate
Weyerhauser Sales Co.
St, Paul, Minnesota
J. M. Flippin
The Flintkote Co.
New York, N. Y.
Herbert A. Faber
The Formica Insulation Co.
Cincinnati, Ohio
Russell G. Creviston
Crane Company
Chicago, 111.
K, E, Moore
Johns-Maiiville Co.
New York, N. Y.
H. F. Knapp
Carnegie Illinois Steel Corp.
jk.r
■
I
A, D. Kilham
Bird & Son
East Walpole, Mass.
T. H. Danchy
International Nickel Co.
New York, N. Y.
Charles I. Weiller
Automatic Burner Corp.
Chicago, 111.
J. F. Cantwell,
Indianapolis, Indiana
Henry E. Voegeli
American Brass Co.
Waterbury, Conn.
H. E. Gosch
Weatherbest Corporation
Tonawanda, New York
C. W. Seeley,
American Brass Co.
Waterbury, Conn.
I. W.. Peffly
American Stove Co.
St. Louis, Mo.
Edwin H. White
The Sisalkraft Co.
Chicago, 111.
E. E. Greenwood
Edison Electric Institute
New York, N. Y.
Jas. W. Speer,
National Elec. Mfg. Co.
New York, N. Y.
J. E. Quinlan
General Electric Co.
New York, N. Y.
Leonard C. Rennie
fall Paper Institute
New York, N. Y.
Herbert U. Nelson
Nat’l. Association of Real Estate Bds,
Chicago, 111.
B. B. Caddie
Copper & Brass Research Ass’n.
New York, N. Y.
Chas. H. Pascoe
American Window Glass Co.
Pittsburgh, Pa.
J. A. Doucett
Revere Copper & Brass Co.
New York, N. Y.
H. H. Hobart
Curtis Companies, Inc.
Clinton, Iowa
L. D, O ’Harrow
Southern Pine Assfn.
Keltys, Texas
Marshall Adams
American Radiator & S. S. Corp.
New York, N, Y.
S. M. Eaton
Southern Pine Ass’n.
Keltys, Texas
T. C. Carter
The Eagle-Pi cher Sales Co.
Cincinnati, Ohio
Frank Carnahan
Nat’1, Retail Lumber Dealers Ass’n.
Washington, D. C.
A. E. Newby
National Fire Proofing Corp.
Pittsburgh, Pa.
R. Hartman
Standard Sanitary Mfg. Co.
New York, N. Y.
Wm. Lancaster
Graybar Electric Co.
New York, N. Y.
/
Mr. O ’Connor
Insulite Co.
Chicago, 111.
W. E, McLain
Tennessee Coal Iron & Railroad Supply
Birmingham, Alabama
Corporation Income Tax Returns for 1933
Income tax liabilities of corporations in 1933 increased
45.5 percent over the 1932 figure, from $286,000,000 to $416,000,000.
Total compiled receipts rose 3.2 percent, from $8i,638,000,000 to
$84,234,000,000.
Compiled net deficit was $930,000,000 as against
$3,829,000,000 in 1932.
Cash dividends paid were $3,127,000,000
compared with $3,886,000,000 in 1932, or 19.5 percent less.
Income
tax returns were filed by 446,842 active corporations as compared
with 451,884 for 1932, a decrease of 1.1 percent.
The following table of all corporation returns for 1933 by
major industrial groups, shows number of returns, compiled receipts
and statutory deductions, net profit or deficit, statutory net income
or deficit, income tax, excess-profits tax, and total tax, net profit
after deducting total tax, and dividends paid.
thousands of dollars.
Money figures are in
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Monday » November 4* 1955«______
IO/ 3 /¿5
Press Service
No* 6 —
The Treasury today made public data from corporation income tax
returns for the calendar year 1933, which will later be published in
Sta.tistics of Income for 1933.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Monday. November 4, 1935.______
10/31/35
Press Service
6 " 16
The Treasury today made public data from corporation income tax returns for
the calendar year 1933, which will later he published in Statistics of Income for
1933.
Income tax liabilities of corporations in 1933 increased 45.5 percent over
the 1932 figure, from $286,000,000 to $416,000,000.
3.2 percent, from $81,638,000,000 to $84,234,000,000.
$930,000,000 as against $3,829,000,000 in 1932.
Total compiled receipts rose
Compiled net deficit was
Cash dividends paid were
$3,127,000,000 compared with $3,886,000,000 in 1932, or 19.5 percent less.
In
come tax returns were filed by 446,842 active corporations as compared with
451,884 for 1932, a decrease of 1.1 percent.
The following table of all corporation returns for 1933 by major industrial
groups, shows number of returns, compiled receipts and statutory deductions, net
profit or deficit, statutory net income or deficit, income tax, excess-profits
tax, and total tax, net profit after deducting total tax, and dividends paid.
Money figures are in thousands of dollars.
Corporation returns for 1933
major industrial groups, showing number of returns, compiled receipts and statutory deductions, net profit or deficit, statutory net income or deficit,
income tax, excess-profits tax, and total tax, net profit after deducting total tax, and dividends paid
(Money figures in thousands of dollars)
PART I. ALL RLTURNS
IN D U S TR IA L GROUP S
Manufac1 1xring
•
1 Number of returns
Aggregate
: Agricul5 ture and
: related
! industries
Mining
•
:
Total
manu• facturing
ana
quarrying
Food and
kindred
products
:
:
:
:
:
Liquors and
beverages [ Tobacco
(alcoholic
product-s
and nonalcoholic) Î ■
Forest
products
î Paper,
: pulp, and
: products
545
6,520
2,099
Textiles and: Leather and ] Rubber
their prod-5 its manu- * products
ucts
5 iactures
446,842
5,261
11,848
88,649
12,l8l
2.546
383
14.974
2,338
Receipts, taxable income:
Gross sales 1/
Gross receipts from other operations 2/
3
Interest
4
Rents
5
6 Profit, sale of capital assets
Miscellaneous receipts
7
Receipts, tax-exempt income:
8 Dividends from domestic corporations
Interest on tax-exempt obligations 3/
9
10
Total compiled receipts 4/
57,777.469
18,982,492
2,785,620
1,650,U5
262,464
1 ,158,521
270,321
95.175
5.179
9,374
2,781
8,317
1 ,209,675
639.997
17,572
2i ,377
17.833
36,240
32,612,067
1,600,864
203.313
118,264
45,220
410,568
7,022,019
141,021
25,905
15,128
4 .125
56,242
569,881
10,981
1,739
4,606
812
3,270
924.085
2,507
2,417
922
150
3,799
4 .521,537
68,398
10,795
12,529
2,416
31.728
971,123
3.447
2 ,693.
1,780
455
7 .960
689,694
3,253
7,710
3.722
216
13,501
931, H 4
26,780
6,425
6,216
4.851
16,796
1,121,123
4,880
15,608
4 ,6 3 0
1,708
12,254
1,025,709
591,586
84,234,006
3.982
961
396,091
15,580
8,143
1,966,418
160,481
.... . 79,545
3 5 ,230,321
20,960
7,634
7.293,033
6l9
...... 1,419
593,
9,226
3,698
"946,805
4.771
8,476
4,660,649
805
1,264
989.525
350
1,171
719,618
1.779
1,943
995,904
2,881
1.987
1 ,165,071
Statutory deductions:
Cost of goods sold
Cost of other operations
Compensation of officers
Pent paid on lousiness property
Interest paid
Taxes paid other than income tax 5/
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
Miseellaneous deductions
Total statutory deductions
4 3 ,625,788
9 ,419,872
1 .994,961
1 ,421,778
3 ,510,996
2 ,123,795
1 ,249.107
3 ,495,842
246,439
1,685,858
16,389,643
8 5 ,164,079
191,812
937,273
365,048
37,608
11,770
72,914
62,717
16,226
153,061
114,065
32,232
316,223
23,932,016
829,402
706,412
292,445
460,338
645,461
318,063
1,523,083
109,459
280,667
5,688,903
5,421,7§4
60,268
301.Û52
4,542
88,008
15,328
41,275
64,503
72,910
3.318
4^57
739,628
248
6,074
1,660
3,610
9,816
2,058
6,829
763,563
ii682
24,189
13,585
4.755
7,433
10,872
14,863
115
3,581
488,523
182
6,609
7,791
17,508
16,093
10,897
34.186
11
1.415
131.543..
714,756
703,829
15,266
35,722
7.555
24,060
23,224
22,899
46,522
17.811
11,032
156,851
1.064,771
808,832
1,578
28,658
10,a 1
33.138
18,955
9,331
63,485
1,279
5,528
163,141
1,143,937
2
11
12
13
14
if
lb
3.7
lo
19
20
21
22
23 Compiled net profit or deficit (10 less 22)
24 Statutory net income less statutory deficit
25 Income tax
26 Excess-profits tax
27
Total tax
930,0738/
2,547,367 g/
4 16 ,0 9 3
6,976
423,068
28 Compiled net profit less total tax (23 less 27) 1,353,141 8/
29 Cash dividends paid
3,127,459
30 Stock dividends paid
102,043
38,527
15,152
14,231
20,011
19,380
8,333
29,752
3,735
11,110
86,424
436,486“
40,3758/
45,318 gy
2 ,10 2
.............. 55
2 ,15 b
42,531 8/
5,493
376
34,78{>7249
' 152,7188/
176,441gy
9,921
280
10 ,2 0 1
162,919 8/
90,924
2,272
39,117
174,279
245
38,518
1 .085,356
7,086,262'
444,072
204,045
206,772
„ ^178,178
203,713
36,906
631
3 7 ,5 3 7
3,649
2 0 7 ,3b2
236,709
1 .169.593
39,376
....
169,235
194,522
7,448
8,299
18,399
21
8,957
121,126
532,100
3.523.429
41,678
133,239
41,572
33,281
67,912
35,775
134,795
m
n 223
781
28,172
112,807______ 3QQ.-431_____
'
8 83,549
4 ,540,508
61,226
59,188
63,255
50,332
120,142
106,895
10,199
8,998
28,010
764
46,600
_______ 397 .
10,596
.
50,630
19.633
2,238
960,831
28,893
26,825
6 ,5 8 2
, 167
8
9,0 0 7
28,774
6,749
54,248
95.134
5
91,368
62,666
4.843
22,144
19.366
190
..
4,860
3,339
68,8678/
72,589 H/
1 ,8 6 7
3,153
............. 5 2 ......... .............
3 .2 7 2
1,919
m
2,941
7.820
118
72,139 8/
14,666
1,295
21,134
l6,2b6
7 ,2 5 0
169
7 ,4 1 9
13,715
30,092
435
Corporation returns for 1933 Ly major industrial groups, showing number of returns, compiled receipts and statutory deductions, net profit or deficit, statutory net income or deficit,
income tax, excess-profits tax;, and total tax, net profit after deducting total tax, and dividends paid (continued)
(Money figures in thousands of dollars)
PART I. ALL RETURNS
I N D U S T R I A L
GROUPS
(continued)
___________________ Manufacturing (continued)____
Printing,
publishing,
and allied
industries
1 Number of returns
Receipts, taxable income:
Gross sales 1/
Gross receipts from other operations 2/
Interest
Rent s
Profit, sale of capital assets
Miscellaneous receipts
Receipts, tax-exempt income:
8
Dividends from domestic corporations
9
Interest on tax-exempt obligations 3/
10
Total compiled receipts 4/
2
3
4
5
6
7
11
12
13
14
15
16
17
18
19
20
21
22
Statutory deductions:
Cost of goods sold
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 3/
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
Miscellaneous deductions
Total statutory deductions
23 Compiled net profit or deficit (10 less 22)
24 Statutory net income less statutory deficit
25 Income tax
26 Excess-profits tax
27
Total tax
28 Compiled net profit less total tajc (23 less 27)
29 Cash dividends paid
30 Stock dividends paid
1/
2/
3/
4/
5/
6/
7/
87
__ n ,599
889,896
703,828
8,585
15,799
2.563
17,791
Chemicals
and allied
products
448,300
80,337
35,834
27,824
20,681
26,546
5 5 .I5 I
66
)
! Manufac[ Metal and [ turing not
[its products ! elsewhere
[ classified
Construction
Transporta
tion and
other public
utilities
5,619,620
425,354
51,204
20,194
11,873
81,822
3 .753,003
186,783
62,948
60,997
106,311
166,439
43,293
406,23:
7 5 ,7
691,233
9 ,9 6 6
4,224
2,566
1,429
7,322
7,681,062
186,367
58,821
25,801
13,139
144,317
1,850
27,718
2,555
30,180
721,144 _ _ TT,167,406
464,119
5,701
22,971
4,884
14,030
13,566
8 ,935
62,982
1,532
979,681
14,083
7 ,190
4,370
1Æ
13,760
1,570
____ 2,527
i ,o ¿£ M
5 ,737,597
58,696
159,708
50,658
113,387
167,520
79,410
462,672
12,119
667,167
4.478
42,621
1.177Ì9§Ó
8,316,442
223^852
1,054,010
13.305
13.473
14,312
20,6
42,
250
493,623
532,221
12,014
12,803
3.462
14,332
-
9 ,768,599
231,136
141,207
10,738
146,708
1,210,321
' Fà26Ì7ò
29,310
172,193
_ 13,162______83,697
131.911
737,612
16,4688/
20,873 8/
9,853
38,240
4.826
124__________ 535__________ 86
9377
I
38 .7 %
4,912
19.333
47,845
1,536
133.417
372,176
13,889
21,380 8/
24,564
293
149,0368/
2 0 6 ,934 8/__
40,565
__ 3 2 2
40.942
189,978 8/
253,452
6,091
29,3428/
33>438 8/
7,262
220
77452
36,824 8/
27,658
994
23,191,782
506,705
76,417
92,261
16,883
280,466
10,094
310,781
34.430
4,483_____ 19,269
_ 14,643
1,083,031
10,6287518' ""24,213,588
179
5,222,382
80,514
180,028
1.553,095
678,098
85,057
996,080
15,440
171,792
218,471
600,298
549,005
150,188
I08,466
244,853
253,539
1,030
79,002
180,707
1*136.263
1.4Í8Í915
10,384,313
3,748,235
24,2047878
392,895
375,613
67,732
12,219
22,401
11,484
14,473
46,651
1
1571592
.1,625,299
Trade
______ 7,154_______ 3,828________18,14p________6,342_______ 16,252______ 21,778______y g j g | _____ „ 4 2 ,9 8 5 ___
12,231
75,720
3.916_______12,777
^7298,563
559,490
Stone,
clay, and
glass
products
Service Profes
sional,
amuse
ments
hotels, etc.
53,231 8/
67,808 8/
244,205
85,8448/
3,268
92,258
173_________ 124
3,440
92,581
56,672 8/
30,349
3,250
151,624
999,535
14,798
Gross sales where inventories are an income-determining factor. For "Cost of goods sold" see "Statutory deductions."
Gross receipts from operations where inventories are not an income-determining factor. For "Cost of other operations" see"Statutory deductions,"
Includes obligations of States and territories or minor political subdivisions, securities issued under the Federal Farm Loan Act and obligations of the
United States or its possessions.
Includes net profit from sale of capital assets (real estate, stocks, bonds, etc.) but not gross receiptsfrom theseitems.
Excludes nontaxable income
other than interest on tax-exempt obligations and dividends on stock of domestic corporations as reported in Schedule L of thereturn.
The ’’Cost of goods sold" and ’’Taxes paid other than income tax” are in process of revision.
Includes for a limited number of returns the cost of securities purchased for customers.
Includes special non-expense deductions of life insurance companies.
Deficit.
\
8 ,709
40,3648/
60,438
1 ..75L
62,189
53,480 8/
213,144
15,513
2 ,495,191
16,258
235,232
i .518
58,603
Finance Banking,
insurance,
real estate,
stock and
bond
brokers.
etc.
Nature of
business
not given
121,683
1,490
6,928
635
296
237
394
3,336,811 6/
2,223,096
1 ,019,331
157,793
202,814
8,407
480,901
__
2,248
462,242
_27823,4 5 ^ T - - 7 ,082,990
-
1,000,388
144,425
201,715
168,343
110,159
34.215
202,545
275
63,573
k2Q4,.202_
3 ,1 2 9 ^ 4 1
306,3858/
317,041 8j
8.478
„¿39
77717
315,102 8/
42,339
1,529
1.053
__ 51
9,593
-
-
4,790
945
272
836
351
745
393
3
2,475
1,365,250
341,874
160,093
1,062,869
407,680
529,143
290,739
2,253
1,070,187
3 ,722,995 7 /
87953,084
if
. -
Ä
.-
1 3 .S48
1 ,070,094 8/
4,255 8/
2 ,013,237 8/_____ 5>359 8/
35,848
504
357352
.
1,106,446 8/
575.402
24,929
67
1
^9
4,323 8/
679
1
Treasury Department, Division of Research and Statistics.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS
Saturday. November 2, 1935,
Xl/l/35
----------
Press Service
6
-n
Secretary of the Treasury plorgenthau announced last evening that the tenders
for two series of Treasury bills, to be dated November 6, 1935, which were offered
on October 30, were opened at the Federal Reserve banks cm November 1, 1955.
Tenders were Invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $311,446,000 was applied for, of which
$100,245,000 was accepted.
The details of the two series are as follows:
For this series, which was for $50,000,000, or thereabouts, the total amount
i
applied for was $145,210,000, of which $50,143,000 was accepted. The accepted bids
ranged in price from 99.972, equivalent to a rate of about 0.077 percent per annum,
to 99.964, equivalent to a rate of about 0.099 percent per annum, on a bank dis
count basis.
Only part of the amount bid for at the latter price was accepted.
The average price of Treasury bills of this series to be Issued is 99,966 and the
average rate is about 0.095 percent per annum on a bank discount basis.
375-DAY TREASURY BILLS, MAT'URINE AUGUST 5, 1936
For this series, which was for $50,000,000, or thereabouts, the tot al amount
applied for was $166,236,000, of which $50,102,000 was accepted.
The accepted bids
ranged in price fro® 99.887, equivalent to a rate of about 0.149 percent per annum,
to 99.874, equivalent to a rate of about 0.166 percent per annum, on a bank discount I
basis.
Only part of the amount bid for at the latter price was accepted.
The
average price of Treasury bills of this series to be Issued is 99.878 and the
average rate is about Q*X61 percent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
POH ESLiiSE, MOEKIHG UH7SPAPSRS,
Saturday, November 2. 1935« ___
11-1-35*
S? 7 * Ce
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury bills, to be dated November 6, 1935, which were offered
on October 30, were opened at the Federal Reserve banks on November 1, 1935.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $ 3 1 1 ,4 4 6 , 0 0 0 was applied for, of which
$100,245,000 was accepted.
The details of the two series are as follows.
131-DAY TREASURY 3 ILLS, MATURING MARC H d J ^ J ^ i ^ .
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $145,210,000, of which $50,143,000 was accepted.
The accepted
bids ranged in price from 99.972, equivalent to a rate of about 0.077 percent per
annum, to 99.964, equivalent to a rate of about 0.099 percent per annum, on a
bank, discount basis.
accepted.
Only part of the amount bid xor at the latter price was
The average price of Treasury bills of this series to be issued is
99.966 and the average rate is about 0.095 percent per annum on a bank discount
basis.
273-DAY TREASURY BILLS« MATURING- AUGUST 5, 1936
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $166,236,000, of which $50,102,000 was accepted.
The accepted
bids ranged in price from 99.887, equivalent to a rate Ox about 0.149 percent
per annum, to 99.874, equivalent to a rate of about 0.166 percent per annum,
on a bank discount basis.
was accepted.
Only par’b of the amount bid for at the latter price,
The average price of Treasury bills of this series to be iosued
.is 99.878 and the average rate is about 0.161 percent per annum on a bank dis
count basis.
ooOoo
FROM THE COMMISSIONER OF CUSTOMS:
(Through Assistant Secretary Gibbons)
There is transmitted herewith a statement showing imports
of distilled liquors and wines, and duties collected thereon,
covering the month of September, 1934, 1935, and the ten months
period ended September 30, 1934 and 1935.
Inclosure.
IM PO R T S
OP D I S T I L L E D
Intnbir,
1934,
LIO D O R S
AND V IN E S
1
t Saptaabar
1
DI ST ILLED LIOUORS (Praaf 0allana)i
Staak la guataaa Band ad Vir«*
hauaaa at baglaalag
fatal I apart« (Praa aad Dutinbl«)
A n l l & b l a far Caasaaptlan
Eatarad lata Caaaaaptlaa (a)
Staak laCaataaa Baadad Vara*
haaaaa at aad
AND D U T IE S
CO LLEC T ED THEREON
1933» and Taa Maatha Badad Saptaabar
w «
-
1
1
1
Auguat
1935
S
t
30,
1934, 1935
:
Taa Maatha End*d 1
Saptaabar t Sapt. 30, t s«pt. 30
■---- l i * —
j ---- *225—
l
1»70
Ti
3,861,275
444,106
4,448,446
4,115,014
28,0
300,907
4,305,301
463,0*3
4,037,353
*49,9*0
560,190
5,71**039
9,031,053
<*077*001
973)3,1
9,3*1,^
5,004)0
3,753,*5*
3,041,510
4,277,163
3,753,*5*
4,277,1
1 ,600,043
1,602,53»
110,045
i,7io,oss
129,682
1,013,9*1
1 ,662,348
1,73*«**0
1,99*,570
137,700
2,130,27s
3,476,269
4,073,4
5,103,0
1*5,55*
lj*,177
179,431
1,931,739
3,1527$
1»544,530
1 ,600,043
1*950,847
1*544,530
1,3507!
*93,017
299,24«
344,360
7,954
35*,314
17,504
356,«37
141,112
4975
¿62,2
30«,07S
20,03«
*,313
305,5*1
12,544
497,949
*17,909
711»?
37*79
280,040
*93«017
334,81«
200,040
334,1
3,041,510
5*2,094
4,403,il*
STILL VIMES (Liquid Oallaaa)}
Staak la Cuataas Baadad Vara*
TataX Iapart« (Praa aad Datlabla)
Avallabla far Caaaaaptlaa
Eatarad lata Caaaaaptlaa (a)
Staak la Ouataaa Baadad Vara*
kaaaaa at aad
SPARKLXHO VINES (Liquid Oallaaa)i
Staak la Caataaa Baadad Vara*
kaaaaa at baglaalag
Tatal Iapart« (Praa aad Datlabla)
Avallabla far Caaaaaptlaa
Eatarad lata Caaaaaptlaa (a)
Staak la caataaa Baadad Var«*
kaaaaa at aad
7,061
230,0
To
DUflSS COLLECT ED OH •
ilatlllad Llfaara
Still Vlaaa
Spark1 lag vlaaa
Tatal Ewtiaa Sallaatad aa Llqaara
'fatal iatlaa Sallaatad aa Otkar
Saaaadltlaa
Tatal Eatlaa Sallaatad ,
Par Saat Sallaatad aa fcltaars
(• ) Inaiadlag f U M m U a f i r »Rip
PREPARED BV
DIVISION Of STATISTICS AND RESEARCH
BUREAU Of CUSTOMS
TREASURY DERART MINT
I t.tn.tit t **705,513
ll1.i*t
«*,7)0
73.204
123,669
102*696
*9**49,170
2,402,413
1*299*790
3,416,206
**«37*3«
3,031,«*«
3*,941,3*3
31,146,5
ti.tn.nt
94**90,166
99*141*194
169*611*009
210**77«;
*05,979
<*»»?•3*5*5
5)7,1*7,47* « « , 1 7 ^ 1 1 *
*•*# _______
« ip lm llt i n .
3*935,9
2.247il
En
St
5)01* 553*77* tf«l*0M><
10.7*
iv;
6 *4,963,1
11,
IBEA.SUEY DEPARTMENT
Press Service No. 6-18
■RELEASE* MONDAY- Nov. 4, 1935.
IMPORTS OE DISTILLED LIQUORS AND WINES AND DUTIES COLLECTED THEREON
September« 19-54. 193SV aa& Ben Months Ended September 30.1934, 19,35
Ten Months Ended
Sep. 30
¡September : August • : September : Sep. 30
1934
:
1935
;
1934
:
1935
distilled l i q u o r s “
277«
(Proof Gallons):
Stock in Customs.
Bonded Warehouses
at beginning.••• 3,841,518
Total Imports (Free
and dutiable).*..
562,094
Available for Con
sumption. •••••• ♦ 4,403,612
Entered into Con
sumption (a)....
649,960
Stock in Customs
Bonded Warehouses
i
i
!
1
|
3,861,275
4,448,446
4,115,014
28,044
444,106
388,907
5,716,039
9,333,167
4,305,381
4,837,353
9,831,053
9,361,211
463,863
560,190
6,077,401
5,084,048
3,841,518
4,277,163
3,753,652
4,277,163
1,992,578
1,813,921
230,001
137,700
1,662,348
4,873,430
2,130,278
3,476,269
5,103,431
179,431
1,931,739
3,152,584
1,950,847
1,544,530
1,950,847
""*344*360
356,837
49,550
7,954
141,112
662,247
352,314
497,949
711,797
17,504
217,909
376,987
334,810
280.040
■ 334.810
$2,705,523 $29,249,170
2,402,423
223,669
1.289.790
102.636
$24,963,832
3,935,974
2.247.103
$3,031,828 $32f941.383
and diplomatic use*
$31,146,909
STILL WINES
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
1,602,538
at beginning.... 1,600,043
Total Imports (Eree
129,682
and dutiable).••
110,045
Available for Con
1,732,220
sumption.
• 1,710,088
»0,»
Entered into Con- y
132,177
sumption.C^l••••
165,558
Stock in Customs
Bonded Warehouses
at end......... 1,544,530 „1,600,043
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
J4,l
299,248
at beginning.»•.
293,017
Total Imports (Eree
6,313
and dutiable)....
7,061
Available for Con
305,561
sumption. •»•••••.
300,078
Entered into Con
12,544
sumption (a).....
20,038
4*,) Stock in Customs
Bonded Warehouses
293,017
at end...........
280«540
DUTIES COLLECTED ON It Distilled Liquors.. $3,092,585 $2,201,252
Still Wines ......
205,979 ' 162,790
73,284
Sparkling Wines....
117^642
Total Duties ColJected on Linuors
$3,416,206 $2-437.326
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
November 4, 1935#
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFEICESi
(Under Executive Proclamation of December 21, 1933) as amended
Week ended November 1, 1935:
Philadelphia ...... .... . ..*....... .......... .
701,353#56 fine Ounces
San Erancisco........ ................... .
438,576*46
w
w
Denver.
.......... .
6.522,67
"
M
Total for week ended November 1, 1935....,....... ..
1,146,452.69
’!
w
Total receipts through November 1, 1935#......... , 5 2 , 2 4 6 , 0 0 0 . 0 0
w
«
SHYER TRANSEERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 1, 1935:
Philadelphia........................
New York................. ..............
San Erancisco............................
Denver. ......... ....................... .
New Orleans........... ...... ..........T.
Seattle................. .
Total for week ended November 1, 1935.......
Total receipts through November 1, 1935.....
.... . .
..... ..
.... .
.......
.... ..
........
..... .
460.35 fi67.. 60 li
51 von il
711 .8? it
h
1nx. ai
I
224.25 I
1 618.53 H
113,014,011.96 II
ounces
ti
.RECEIPTS OE GOLD BY THE MINTS AND ASSAY PEE ICBS:
New
Domestic
$
4,371,50
24,200,00
1,057,325,45
524,374,67
1,046,28
431f913»84
$2,043,231.74
Week ended November 1, 1935:
Imports
P h i l a d e l p h i a . ........... .,i|f~ 17,154,06
New York..... ....;............ 60,102,000,00
San Erancisco.................
533,201.99
Denver.,..................... .
19,947.88
New Orleans ...... ............
710.86
Seattle.................. .
Total for Week ended November 1..$60,673,014.79
GOLD RECEIVED BY THE EEDERAL RESERVE RANKS AND THE TREASURER’S PEE ICE
(Under Secretary1s Order of December 28, 1933)
Received by Eederal Reserve Banks:
Gold Coin
Week ended October 30..........#$
24,028.90
Received previously..*......... 30.858.859.11
Total to October 30.............$30,882,888.01
Gold Certificates
$
260,810,00
98.828.130.00
$99,088,990.00
Received by Treasurer’s Office:
Week ended October 30.......... $ ---------Received previously.............
266.056.00
Total to October 30............ $
266,056.00'
$
NOTE:
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
4,400,00
2 fg78,100.00
$ 2,282,500.00
/O
U)
p^v
l\J
■iaihiiirr —n
ri-mmm
j^T*.
hA^L^Xt^ )u*w-«L-^
{" H-^ ®/? / ^
0
L
~~vu>v ¡9
- 4
>|t||||J^ ^ |M
iM|-|i|^<niT^‘"3iM‘t*JBBtftW3*<a!g*a>;l* w>* 1™,wr‘*~^l>11,* l1l"'', ‘T''' Wi
'/ V * '
_
_
Corpfirnt i nn T?n11ivhn ^ k awiaag-tte * Ineey
/ ir ?
/*u *
1 0 9 ,7 3 6
tg£a|j^[fcmr
rrirpi-ir-i^InT — *-- — ^
or 2U.6 percent/o#-ttw
£ ^ p
showed net income, as against 82,6H6, or 13*3
percent of the total, for 1932*
This is an increase in the number
/
showing net income of 3 2 * 8 percent.
Total compiled receipts of these corporations were
$U6 ,9 0 7 ,0 0 0 ,0 0 0 , as against $31,355,000,000 for 1932» a rise °*
U 7 . 3 percent.
Income tax liability for 1933 increased to
$1+1 6 ,0 0 0 , 0 0 0 from $236,000,000 for 1 9 3 2 , a rise of U 5 . 5 percent.
Compiled net profit was $3,530,000,000, compared with $2,733,000,000,
an increase of 30*8 percent.
Cash dividends rose 2.8 percent, to
$2,336,000,000 from $2 ,3 2 0 ,0 0 0 ,0 0 0 .
The following table presents corporation returns showing net
income for 1 9 3 3 by major industrial groups.
It indicates the number
of returns, compiled receipts and statutory deductions, net profit,
statutory net income, income tax, excess—profits tax, and total tax,
net profit after deducting total tax, and dividends paid.
Corporation returns for 1933 by ma<3or industrial groups, showing number of returns, compilea^c^ipts and statutory deductions, net profit or deficit, statutory net income or deficit,
income tax, excess-profits tax, and total tax, net profit affrer- deducting total tax, and dividends paid
(Money figures in thousands of dollars)
PART II.
RETURNS 3RQWING MET INCOME
I N D U S T R I A L
Aggregate
Agri cul,6
,
ture and
...
related
industries
:
.
:
:
:
... .
Mining
.0
and
Total
manufacturing
:
::
:
{
• Liquors and :
'Food and
kindred
products
:
109,786
1,443
2,982
26,354
„247
35,673.313
123,495
45,033
1,874
3,121
1,073
2 ,49b
295,30?
223,236
5,250
5,232
11.037
n ,577
20,706,515
1,002,539
107,330
63,519
20,473
269,283
5,334,175
109,270
19,890
£> 9*315
3,204
40,352
44.0,075
1 5 4 ,299
46,906,664,
949
273
176,313
4.037
_ 2,480
119,626
_____ 52x053
14,314
26,501,694
3,845,766
8bl,295
587,068
888,787
881,539
333,082
1,541,705
84,797
171,293
83,561
12,458
4.069
10,750
3,252
185,347
103,784
12,855
2,531
8,729
18,231
3,928
33,003
41,565
2,389
__ 6 i m
1 Number of returns
Receipts, taxable income:
Gross sales 1/
Gross receipts from other operations 2/
Interest
Bents
Profit, sale of capital assets
Miscellaneous receipts
Receipts, tax-exempt income:
8
Dividends from domestic corporations
9
Interest on tax-exempt obligations jy
10
Total compiled receipts 4/
2
3
4
5
6
7
11
12
,13
14
15
16
17
lo
19
20
21
22
Statutory deductions:
Cost of goods sold 5/
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
Miscellaneous deductions
Total statutory deductions
8,648,532
872,194
459,066
115,730
543,455
8,120
1,784
13,580
889
57?
„2x8291291
23x15.6.
: beverages
• (alcoholic
: and non: alcoholic)
22.34i.3i
14,864,850
515,056
371,422
123,000
176,599
336.433
149,539
739,986
34,396
71,334
u421
GROUPS
4,111,047
Ì-43,021
34 , 3 5 0
24,179
38,797
53,510
22,155
116,444
SSL
ii4
16,101
: Tobacco
:
, ,
: ^ro ^ s
:
122
5,664
973
215
467,399
9,008
1,403
3,242
658
2,298
819,838
2,447
2,101
814
146
3,540
3 ,110,233
715,186
2,601
2,057
810
267
5,525
291,073
1,641
1,087
1,452
73
4,775
479
_ i x 08_3
185,571
9,063
— -íiáá.
^41,375
240,725
3.590
10,127
1.551
2,637
3§,335
6.385
12,895
660,050
209
3,957
1,127
2,193
8,598
1,450
5,535
2
4 ,540
jjxl M i
.82x858.
410,645
763,661
4 3 ,326731?
3,580,346
2.985,972
16,116
14,894
78,203
71,686
1,632,310
1,460,632
285,764
264,606
74.926
73.363
77,713
65.224
2,102
55
2,158
9,921
280
10 ,.201
203,713
207,362
ju & á .
í 36,906
..
„Öl
37,537
10,199
397
10,596
8,998
8
9.007
13.980
3,405
58
68,003
53,481
2,215
1,424,948
1,024,586
33,718
248,227
181,131
J 6,896
64,330
18,543
1,595
68,707
90,686
5
25 Income tax
26 Excess-profits tax
27
Total tax
416,093
6 ,9 7 8
423¡0b8’
28 Compiled net profit less total tax (23 less 27) 3,157,278
2.385,889
29 Cash dividends paid
80,450
36 Stock dividends paid
■’
32,853
7.314
7,317
1-376
21,645
580
ixQ57_
728,081
3.155
___ 7,138
3 ,191.032
2,370,232
558,503
l*gi3
15,820
5 ,4 4 4
2,709
5,160
5,882
10,108
13.5
1,26b
..,.72,635
16,63s
81,906
20,621
16,396
48,305
19,586
87,016
204
7,898
308,207
6^
-.79.823
1627197
23 Compiled net profit (10 loss 22)
24 Statutory net income (23 less 8 and 9 )
Manufacturing
;
i Textiles and Leather and. : Eubber
: their prodits manu- : — oducts
;
ucts
factures
:
:
2x927xQQ5214,027
203,733
1,638
993
n -M
2,012
1,348
1,270
3.978
503
____67i
407IB19
281,647
3,092
13,481
2,490
4.519
6,473
5.793
13.944
5,216
697,500
2,319
2,200
1,304
405
5.O3I
958
1,076
710,792
481,353
527
17,778
4,603
7,453
8 ,5 7 4
5 ,5 ö 9
32,607
297
1,861
95J 6o _
656,402
678,858
383.898
49,223
47,586
13,888
13*339
23,922
22,745
54.390
52,356
1,867
......5.2..
1.919
3,153
119
3.272
7 ,2 5 0
I69
7.419
11,969
6,012
51
20,649
6,923
86I
46,971
25,645
404
42,473
18,436
190
185,253
58,577
4,525
182,177
99
4,172
3.152
4,075
10,478
5,528
14.507
! ^per,
! I"1?; * *
: products
346
_ 62,227
286,761
6,582
167 —
67749
28,010
A ¿ 64_ . 28,774
300,
Forest
products
46,647
*
Corporation returns for 1933 by major industrial groins, showing number of returns, compiled Receipts and statutory deductions, net profit or deficit, statutory net income or deficit,
income tax, excess-profits tax, and total tax, net profit after deducting total tax, and dividends paid (continued)
(Money figures in thousands of dollars)
PART II.
RETURNS SHOWING NET INCOME
I N D U S T R I A L
GROUPS
(continued)
Manufacturing (cont nued,)
Printing,
publishing,
and allied
industries
1 Number of returns
Receipts, taxable income:
Gross sales 1/
Gross receipts from other operations 2J
Interest
Rents
Profit, sale of capital assets
Miscellaneous receipts
Receipts, tax-exempt income:
8
Dividends from domestic corporations
9
Interest on tax-exempt obligations 3/
L0
Total compiled receipts 4 /
2
3
4
5
6
7
11
12
13
14
15
Id
17
18
19
20
21
22
Statutory deductions:
Cost of goods sold 5/
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 3/
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
Miscellaneous deductions
Total statutory deductions
23 Compiled net profit (10 less 22)
24 Statutory net income (23 less 8 and 9 )
25 Income tax
26 Excess-profits tax
27
Total tax
28 Compiled net profit less total "tax (23 less 27)
29 Cash dividends paid
36 Stock dividends paid
Chemicals
and allied
products
Stone,
clay, and
glass
products
*
ManufacM^tal and \ turing not
its ^products 1 elsewhere
’ classified
Construction
Transportation and
other public
utilities
:
:
:
:
Trade.
4
: Service : Profes: sional,
amuse: ments
:hotels, etc.
:
: Finance :
Banking,
: insurance,
:real estate,
: stock and
:
bond
:
brokers,
:
etc.
2,713
2,458
642
4,291
1,500
2,140
7,429
39,275
7 .566
437,699
506,412
5.517
10,947
1,035
9,803
3,686,347
231.947
31.371
12,147
7.913
62,862
414,934
5,313
1,977
991
781
3 ,in
3 ,820,840
84,939
2 6,784
12,634
2,493
92,207
519,933
7,111
3.618
1,198
0 853
8,158
117,958
247,186
1,722
1,202
945
3,709
4,390,850
100,694
75,565
4,018
43,196
14,430,036
279,812
41,726
41,410
8.375
150.244
799.6fe
3,986
44.613
3,460
14,128
1,659,128 6/
609,371
224,358
66,196
48.732
5.927
3,041
98073SÏ
62,068
11,508
4,1067162
1,472
1,436
430,016
19.796
13,207
4i.072.90i
1.097
1,228
543,196”
1,712
1,651
371.085
168,364
12,210
24,492
___ 9 .017
4,794,898
1A955.11?
3,128
. ^ A i 25_
870,155
117,482
3 4 31__
2,800,696
258,848
322,874
3 5 ,35b
16,957
13,986
14,033
13,269
28,720
52
7,942
2,401,204
105,061
42,380
19,801
50,823
79,266
22,784
221,944
25,326
7,546
2,723,060
64,531
16,288
28,057
51,641
31,832
150,924
2,508
17,715
65 1 ,7 8 1
~ 3 ,752,705
326,015
1,801
19,381
4,749
2,849
8,538
5.154
18,259
60
1,429
102.920
489,135
89,863
164,603
16,637
1,948
1,890
2,689
2,376
n,6|j
1 ,940,534
37,855
87,281
500,121
311,186
39,153
529,015
6,405
12,994
317,528
52,219
44,551
15.173
18,264
6,449
32,640
182
1,817
31.
6,045804,869
676,828
81,213
32,697
123,994
85,786
33,183
4 9,864
809
66,841
3 ,957,052
11,278,273
114,606
284,822
284,285
58,991
100,800
96,664
131.898
500
13, H 9
2.151.826
14,515,782
837,846
657.272
469,329
435,820
.
9 00,334
3 ,7 5 9 7677
269,990
2,372
8,203
2,038
2,124
5,523
4 .3 2 4
27,085
463
3,413
66.812
392,346
80,047
71,079
346,485
272,909
37,670
34.762
320,195
287,192
54,061
51,736
27,001
23,638
9,853
124
9.977
38,240
535
38,776
4,826
86
4,912
40,565
377
40,942
7,262
220
7 .4H2
3,268
173
3,440
70,070
42,540
1,223
307,709
326,586
13,580
32,758^
20,918
179
: " 279,253
201,945
3 ,3 5 4
46,580
24,644
877
23,561
13.379
1,219
188,318
„.JZ.8 3 4 4 3 -
14.582
2,182
.5 3 Æ 4
349,084
.492,501
92,258
.324---..
92,581
745.265
851,814
13,599
22,369
:
:
:
: Mature of
: business
: not Siven
:
:
228
1,084
240
47
153
91
1,196.001
2 ,347,215
I.138
65,286
60,982
453,481
260,569
772
J 79
60,438
1.751
62,189
8 ,478
239
8 ,7 1 7
35,848
504
367352
407,141
179,005
11,998
56,568
31,827
35O
417,128
228,086
17,295
67
1
69“
704
307
Treasury Department, Division of Research and Statistics,
4/
Gross sales where inventories are an income-determining factor. For "Cost of goods sold" see "Statutory deductions.”
Gross receipts from operations where inventories are not an income-determining factor. For ”Cost of other operations” see "Statutory deductions.
Includes obligations of States and territories or minor political subdivisions, securities issued under the Federal Farm Loan Act and obligations of the
United States or its possessions.
Includes not profit from sale of capital assets (real estate, stocks, bonds, etc.) but not gross receipts from these items* Excludes nontaxable income
other than interest on tax-exempt obligations and dividends on stock of domestic corporations as reported in Schedule L of the return.
The "Cost of goods sold” and "Taxes paid other than income tax” are in process of revision.
Includes for a limited number of returns the cost of securities purchased for customers.
Includes special non-expense deductions of life insurance companies.
INSOLVENT NATIONAL BAUES LIQUIDATED AND F I NALLY CIOSED
DURING THE MONTH OF OCTOHIR
1955
______________ ___ _________
D ate o f
F a ilu re :
T o ta l
D isbursem ents
In clu d in g
O ff s e ts A llow ed:
F i r s t N a tio n a l Bank, T h ie f R iv e r F a l l s , Minn*
C i t iz e n s N a tio n a l Bank, A ppleton, W iscon sin 1 /
F i r s t N a tio n a l Bank, Del&nd, F l o r id a
B urnet N a tio n a l Bank, B u rn et, T exas
F i r s t N a tio n a l Bank, C arey , Ohio
9 -1 2 -3 5
6 -8 3 -3 3
7 - 1 2 -2 9
2 - 1 8 -3 2
1 0 - 1 2 -3 1
$ 8 4 5 ,8 0 5
4 0 7 ,3 0 7
9 3 9 ,0 7 2
6 0 ,6 8 4
2 0 0 ,4 8 6
1 0 1 *2 4
99*64
6 2 *0 1
93 *0 5
97*03
1 0 9 *7 5
34*67
33*85
93*4
96*83
C i t iz e n s N a tio n a l Bank, L a u r e l, Montana
F i r s t N a tio n a l Bank, B ru sh ton , New York
F i r s t N a tio n a l Bank in , Langdon, N orth Dakota
C i t i z e n s N a tio n a l Bank, Monessen, Penna* 1 / ^
F i r s t N a tio n a l Bank, M in eral W e lls , T exas 1 /
1 -4 -2 3
12—22—31
6 -1 4 -2 9
4 -1 7 -3 1
1 0 - 2 7 -3 3
1 4 6 ,7 6 2
6 0 8 ,6 6 5
1 3 6 ,2 0 0
4 9 ,6 3 9
1 2 ,3 5 2
39*54
74*64
55*43
48*09
18*55
6 .0 7
71 *9 6
45*02
48*1
18*56
1 ,4 7 4 ,7 6 0
4 0 8 ,5 7 7
3 0 ,2 9 7
3 4 5 ,6 3 6
1 0 2 ,6 8 2
5 5 *0 5
7 1 .0 1
33*44
74*36
97*54
25*68
65*13
32*66
69 *7 7
5 9 *2 7
R e c e iv e rs h ip :
Commercial N a tio n a l Bank, W ilm ington, N orth C ar*
F i r s t N a tio n a l Bank, T ra cy , M innesota
F i r s t N a tio n a l Bank, S t r o n g e s t , 1 1 1 * 1 /
P e o p l e s - F i r s t N at’ iJB a n k , W hite Hall , 113»*
M erchants N a tio n a l Bank, C lin to n , Iowa 1 /
1 -3 1 -2 3
4 -2 9 -3 1
7 -1 7 -3 1
3 - 2 0 -3 0
9 -9 -3 3
1 j R e c e iv e r ap p oin ted t o le v y and c o l l e c t s to e k assessm ent co v e rin g d e f ic ie n c y
i n v alu e o f a s s e t s s o ld , o r t o c o s a l e t e u n fin ish ed liq u id a tio n *
%
P e r Cent
Dividends
$ a id
Unsecured
D ep o sito rs
P e r Gent
T o ta l
R etu rn s
t o AÌLI
C re d ito rs:
-4 The F i r s t N atio n al Bank o f S tro n g h u rs t, I l l i n o i s , i n r e c e iv e r s h ip
J u l y 1 7 , 1 9 3 1 , th e l i a b i l i t i e s o f th e i n s t i t u t i o n having t h e r e to f o r e been
& assumed by an o th er bank*
The R e c e iv e r was appointed f o r th e purpose iSP
o f c o l l e c t i n g an assessm ent a g a in s t th e sto ck h o ld e rs t o co v e r a d e fic ie n c y
i n th e a s s e t s sold*
D isbursem ents during r e c e i v e r s h i p , in clu d in g o f f s e t s
allo w ed , ag g reg ated $ 3 0 ,2 9 7 which re p re s e n te d 3 3 * 4 4 p e r c e n t o f t o t a l
lia b ilitie s .
The F i r s t N atio n al Bank o f T r a c y , M innesota, i n r e c e iv e r s h ip A p ril 29,
1931 ; d isb u rsem en ts, in clu d in g o f f s e t s allow ed , t o d e p o s ito rs and o th e r
c r e d i t o r s ag g reg ated $ 408 , 377 , which r e p re s e n te d 7 1 * 0 1 p e r c e n t o f t o t a l
lia b ilitie s .
Unsecured d e p o s ito r s r e c e iv e d d ivid en d s amounting t o 65*13
p e r c e n t o f t h e i r c la im s .
The P e o p le s - F ir s t N atio n al Bank o f White H a ll , I l l i n o i s , i n r e c e iv e r
sh ip March 2 0 , 1 9 3 0 ; d isb u rsem en ts, in clu d in g o f f s e t s allow ed , t o depositors
and o th e r c r e d i t o r s ag g reg ated $ 345 * 636 , which re p re s e n te d 7 4 * 3 6 p e r cen t
of to ta l l ia b i l it ie s .
Unsecured d e p o s ito r s r e c e iv e d dividends amounting
t o 6 9 .7 7 p er c e n t o f t h e i r c la im s .
The Commercial N atio n al Bank o f W ilm ington, North C a r o lin a , i n re c e iv e r
ship Jan u ary 3 1 , 1 9 2 3 ; d isb u rsem en ts, in clu d in g o f f s e t s allo w ed , t o depositors
and o th e r c r e d i t o r s ag g reg ated $ 1 , 474 , 760 , which re p re s e n te d 55 *0 5 p er cent
,
of to ta l lia b ilitie s .
Unsecured d e p o s ito r s r e c e iv e d dividends amounting
t o 25.68 p e r c e n t o f t h e i r c la im s .
-3 -
The F i r s t n a tio n a l Bank i n Langdon, North D akota, i n r e c e iv e r s h ip
June 1 4 , 1 9 2 9 ; d isb u rsem en ts, in c lu d in g o f f s e t s allo w ed , t o d e p o s ito rs and
o th e r c r e d i t o r s ag g reg ated #136 , 200 , which re p re s e n te d 55.A 3 p e r c e n t o f
to ta l lia b ilitie s .
Unsecured d e p o s ito r s r e c e iv e d d ivid en d s amounting to
4 5 .0 2 p e r c e n t o f t h e i r claim s*
The C itiz e n s N atio n al Bank o f Monessen, P e n n sy lv a n ia , i n r e c e iv e r s h ip
A p ril 1 7 , 1 9 3 1 , th e l i a b i l i t i e s o f th e i n s t i t u t i o n h aving t h e r e to f o r e been
assumed by an o th er bank*
The R e c e iv e r was appointed f o r th e purpose o f
c o l l e c t i n g an assessm ent a g a in s t th e sto ck h o ld e rs t o c o v e r a d e f ic ie n c y in
th e a s s e t s s o ld .
D isbursem ents du rin g r e c e iv e r s h i p , in clu d in g o f f s e t s
allo w e d , ag g reg ated #49,639 which re p re s e n te d 4& .1 p e r c e n t o f t o t a l
lia b ilitie s .
The M erchants N atio n al Bank o f C lin to n , Iow a, i n r e c e iv e r s h ip Sept
ember 9 , 1933 , th e l i a b i l i t i e s o f th e i n s t i t u t i o n having t h e r e to f o r e been
assumed by a n o th e r bank.
The R e c e iv e r was appointed fear th e purpose o f
c o l l e c t i n g an assessm en t a g a in s t th e sto ck h o ld e rs t o co v e r a d e f ic ie n c y in
th e a s s e t s s o ld .
D isbursem ents during r e c e i v e r s h i p , in clu d in g o f f s e t s
allo w ed , ag g reg ated # 1 0 2 ,6 8 2 which re p re s e n te d 9 7 . 5A p er c e n t o f t o t a l
lia b ilitie s .
The F i r s t N atio n al Bank o f M ineral W e lls , T e x a s , i n r e c e iv e r s h ip
O ctober 2 7 , 1 9 3 3 , th e l i a b i l i t i e s o f th e i n s t i t u t i o n having th e r e to f o r e
been assumed by a n o th er bank.
The R e c e iv e r was appointed f o r t h e purpose
o f c o l l e c t i n g an assessm ent a g a in s t th e s to ck h o ld e rs t o c o v e r a d e ficie n cy
i n th e a s s e t s s o ld .
Disbursem ents during r e c e i v e r s h i p , in c lu d in g o f f s e ts
allo w ed , ag g re g a te d #12,352 which re p re s e n te d 1 8 .5 5 p er c e n t of t o t a l
lia b ilitie s .
-
2-
The B urnet N atio n al Bank, B u rn e t, T e x a s , i n r e c e iv e r s h i p Feb ru ary 1 8 ,
1932 ; d isb u rsem en ts, in clu d in g o f f s e t s a llo w ed , t o d e p o s ito r s and o th e r
c r e d i t o r s ag g reg ated $ 60 , 684 , which re p re s e n te d 9 3 -0 5 p e r c e n t o f t o t a l
lia b ilitie s *
U nsecured d e p o s ito rs r e c e iv e d dividends amounting t o 9 3 - 4 per
c e n t o f t h e i r c la im s .
The F i r s t N atio n al Bank o f DeLand, F l o r i d a , i n r e c e iv e r s h ip J u ly 1 2 ,
1929 ; disb u rsem en ts, in clu d in g o f f s e t s allow ed , t o d e p o s ito r s and o th e r
c r e d i t o r s ag g reg ated $ 9 3 9 ,0 7 2 , which re p r e s e n te d 6 2 .0 1 p e r c e n t o f t o t a l
lia b ilitie s .
Unsecured d e p o s ito rs r e c e iv e d dividends amounting t o 3 3 -8 5 Per
c e n t o f t h e i r c la im s .
The F i r s t N atio n al Bank o f C a re y , Ohio, i n r e c e iv e r s h i p O ctober 1 2 ,
1931 ; d isb u rsem en ts, in clu d in g o f f s e t s allo w ed , t o d e p o s ito r s and o th e r
c r e d i t o r s ag g reg ated $ 200 , 486 , which re p re s e n te d 9 7 .0 3 p e r c e n t o f t o t a l
lia b ilitie s .
Unsecured d e p o s ito rs r e c e iv e d dividends amounting t o 9 6 .8 3 per
c e n t o f t h e i r c la im s .
The C itiz e n s N atio n al Bank o f L a u r e l , Montana, i n r e c e iv e r s h ip Janu
ary 4 , 1923 ; d isb u rsem en ts, in clu d in g o f f s e t s allo w ed , t o d e p o s ito rs and
o th e r c r e d i t o r s ag g reg ated $ 146 , 7 6 2 , which re p re s e n te d 39-54 p e r c e n t of
to ta l lia b ilitie s .
U nsecured d e p o s ito r s r e c e iv e d d ivid en d s amounting to
6 .0 6 p er c e n t o f t h e i r c la im s .
The F i r s t N atio n al Bank o f B ru sh to n , New Y o rk , i n r e c e iv e r s h ip Decem
b e r 22 , 1931 ; d isb u rsem en ts, in clu d in g o f f s e t s allo w ed , t o d e p o s ito rs and
o th e r c r e d i t o r s ag g re g a te d $ 6 0 8 ,6 6 5 , which re p re s e n te d 7 4 - 6 4 p er c e n t o f
to ta l lia b ilitie s .
Unsecured d e p o s ito rs re c e iv e d d ividends amounting to
7 1 .9 6 p e r c e n t o f t h e i r c la im s .
«A
TREASURY DEPARTMENT
W ashington
FOR RELEASE, MORNING NEWSPAPERS
P re s s Service
The C om p troller o f th e C u rren cy , J . F . T . O’ Connor, to d a y announced the
com p letion o f th e l iq u id a t i o n o f 15 r e c e iv e r s h ip s during O cto b er, 1935»
making a t o t a l o f 159 r e c e iv e r s h ip s f i n a l l y c lo s e d o r r e s to r e d t o solvency
s in c e h i s l a s t Annual R eport t o Congress dated O ctob er 31» 1934*
T o ta l
d isb u rsem en ts, in c lu d in g o f f s e t s allo w ed , t o d e p o s ito r s and o th e r c r e d ito r s
o f th e s e i n s t i t u t i o n s e x c lu s iv e o f 11 r e c e iv e r s h ip s r e s to r e d to so lv en cy ,
ag g reg ated $ 3 9 ,4 3 9 ,3 4 2 , o r an av erag e r e tu r n o f 7 1 .7 9 p e r c e n t o f t o t a l
l i a b i l i t i e s , w hile unsecured d e p o s ito r s r e c e iv e d d ividends amounting t o an
av erag e o f 58,63 p er c e n t o f t h e i r c la im s .
The F i r s t N atio n al Bank o f T h ie f R iv e r F a l l s , M innesota, i n r e c e iv e r
ship September 1 2 , 1 9 3 3 ; d e p o s ito rs and o th e r c r e d i t o r s were p aid 100 per cent
p r i n c ip a l w ith i n t e r e s t i n f u l l amounting t o an a d d itio n a l dividend o f 9.7 5
p er c e n t .
T o ta l payments t o c r e d i t o r s , in clu d in g o f f s e t s a llo w ed , aggregated
$ 845,¿05 and th e s to ck h o ld e rs r e c e iv e d $ 1 1 ,2 9 7 .
The C itiz e n s N atio n al Bank o f A ppleton, W iscon sin , i n r e c e iv e r s h ip
June 2 3 , 1 9 3 3 , th e l i a b i l i t i e s o f th e i n s t i t u t i o n having th e r e to f o r e been
assumed by an oth er bank.
The R e c e iv e r was appointed f o r th e purpose of
c o l l e c t i n g an assessm en t a g a in s t th e s to ck h o ld e rs t o co v e r a d e f ic ie n c y in
th e a s s e t s s o ld .
The c r e d i t o r bank, from dividends and o th e r s o u r c e s , r e
c e iv e d 100 p er c e n t to g e th e r w ith i n t e r e s t i n f u l l amounting t o 4*86 per cent.
D isbursem ents during r e c e i v e r s h i p , in clu d in g o f f s e t s allo w ed , aggreg ated
$ 407,307 and th e s to ck h o ld e rs r e c e iv e d $ 7 3 ,3 0 4 to g e th e r w ith th e a s s e t s re
maining u n c o lle c te d .
TREASURY DEPARTMENT
Washington
rOR RELEASE, MORNING- NEWSPAPERS,
Friday. November 8, 1935»
11**«>*35.
Tress
Service
6*^20
The Comptroller of the Currency, J.F.T. 0*Connor, today announced the
completion of the liquidation of 15 receiverships during October, 1935,
making a total of 159 receiverships finally closed or restored to solvency
since his last Annual Report to Congress dated October 31, 1934.
Total
disbursements, including offsets allowed, to depositors and other creditors
of these institutions exclusive of 11 receiverships restored to solvency,
aggregated $39,489,342, or an average return of 71.79 per cent of total
liabilities, vdiile unsecured depositors received dividends amounting to an
average of 58.63 per cent of their claims.
The First National Bank of Thief River Falls, Minnesota, in receiver**
ship September 12, 1933; depositors and other creditors were paid 100 per cent
principal with interest in full amounting to an additional dividend of 9.75
per cent.
Total payments to creditors,- including ofisets allowed, aggregated
$845,805 and the stockholders received $11,297.
The Citizens National Bank of Appleton, Wisconsin, in receivership
June 23, 1933, the liabilities of the institution having theretofore been
assumed by another bank.
The Receiver was appointed for the purpose of
collecting an assessment against the stockholders to cover a deficiency in
the assets sold.
The creditor bank-, from dividends and other sources, re«
ceived 100 per cent together with interest in full amounting to 4.66 per cent*
Disbursements during receivership, including offsets allowed, aggregated
$407,307 and the stockholders received $73,304 together with the assets re**
maining uncollected*
«2«
The Burnet National Bank, Burnet, Texas, in receivership February 18,
1333; disbursements, including offsets allowed, to.depositors and other
creditors aggregated $60,684, which represented 93.05 per cent of totf.1
liabilities.
Unsecured depositors received dividends amounting to 93.4 per
cent of their claims«
The First
National Bank of DeLand, Florida, in receivership July 12,
1929; disbursements, including offsets allowed, to depositors and other
creditors aggregated $939,072, which represented 62.01 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 33.85 per
cent of their claims*
The First National Bank of Carey, Ohio, in receivership October 12,
ol, disbursements, including offsets allowed, to depositors and other
creditors aggregated $200,486, which represented 97.03 per cent of total
liabilities*
Unsecured depositors received dividends amounting to 96.83 per
cent of their claims.
Citizens National Bank of Laurel, Montana, in receivership January
4, 1923; disbursements, including offsets allowed, to depositors and other
creditors aggregated $146,762, which represented 39.54 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 6.06
Per cent of their claims.
The First National Bank of Brushton, New York, in receivership December
22, 1931; disbursements, including offsets allowed,.to depositors and other
creditors aggregated $608,665, which represented 74.64 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 71.96
Per cent of their claims.
~3-»
The First Nat iOhal Bank in Langdon, North Dakotaf in receivership
June 14 1 1929$’ disbursements, including offsets allowed, to depositors and
other creditors aggregated $136,200, which represented 55»43 per cent of
total liabilities»
Unsecured depositors received dividends amounting to
45*02 per cent of their claims»
The Citizens National Bank of Monesseh, Pennsylvania, in receivership
April 17, 1931, the liabilities of the institution having theretofore been
assumed by another bank»
The Receiver was appointed for the purpose of
collecting an assessment against the stockholders to cover a deficiency in
the assets sold»
Disbursements during receivership, including offsets
allowed, aggregated $49,639 which represented 48*1 per cent of total
liabilities«
The Merchants National Bank of Clinton, Iowa, in receivership September
9, 1933, the liabilities of the institution having theretofore been assumed
by another bank»
The Receiver was appointed for the purpose of collecting
an assessment against the stockholders to cover a deficiency in the assets
sold»
Disbursements during receivership, including offsets allowed,
aggregated $102,682 which represented 97*54 per cent of total liabilities«
The First National Bank of Mineral Wells, Texas„ in receivership
October 27, 1933, the liabilities of the institution having theretofore
been assumed by another bank»
The Receiver was appointed for the purpose
of collecting an assessment against the stockholders to cover a deficiency
ln the assets sold»
Disbursements during receivership, including offsets
allowed, aggregated $12,352 which represented 18*55 per cent of total
liabilities*
The First National Bank of Stronghurst, Illinois, in receivership
July 17» 1931, the liabilities of the institution having theretofore been
assumed by another bank*
The Receiver was appointed for the purpose of
collecting an assessment against the stockholders to cover a deficiency in
the .assets sold«
Disbursements during receivership, including offsets
allowed, aggregated $30,297 which represented 33,44 per cent of total
liabilities«
The First National Bank of Tracy, Minnesota, in receivership April 29,
1931; disbursements, including offsets allowed, to depositors and other
creditors aggregated $408,377, which represented 71.01 per cent of total
liabilities«
Unsecured depositors received dividends amounting to 65.13
per cent of their claims«
The Peoples-First National Bank of White Hall, Illinois, in receiver
ship March 20, 1930; disbursements, including offsets allowed, to depositors
and other creditors aggregated $345,636, which represented 74.36 per cent
of total liabilities«
Unsecured depositors received dividends amounting
to 69.77 per cent of their claims.
The Commercial National Bank of Wilmington, North Carolina, in receiver
ship January 31, 1923; disbursements, including offsets allowed, to depositor
and other creditors aggregated $1,474,760, which represented 55.05 per cent
of total liabilities«
Unsecured depositors received dividends amounting
to 25,68 per cent of their claims.
INSOLVENT NATIONAL BANKS LIQUIDATED AMD FINALLY CLOSED
DURING THE MONTH OE OCTOBER
___________________ 2S55_______________________
Receivership:
Dat e of
Failure:
Total
Di sbur semen t s
Including
Offsets Allowed:
Per Cent
Total
Returns
to All
Creditors:
Per Cent
Dividends
Paid
Unsecured
Depositors
1 0 1 .2 4
9 9 .6 4
62.01
9 3 .0 5
9 7 .0 3
1 0 9 .7 5
34.67
3 3 .S5
93.4
96.33
Eirst National Bank, Thief River Ealls, Minn.
Citizens National Bank, Appleton, Wisconsin 1/
Eirst National Bank, DeLaad, Florida
Burnet National Bank, Burnet, Texas
Eirst National Bank, Carey, Ohio
2-1 8 - 3 2
10-12-31
4 0 7 ,3 0 7
9 3 9 ,0 7 2
60,6 s4
2 0 0 ,4 8 6
Citizens National Bank, Laurel, Montana
Eirst National Bank, Brushton, New York
Eirst National Bank in, Langdon, North Dakota
Citizens National Bank, Monessen, Penna. 1/
Eirst National Bank, Mineral Wells, Texas l/
1- 4 - 2 3
12-22-31
6- 1 4 -2 9
4-17-31
1 0 -2 7 -3 3
146,762
608,665
136,200
49,639
12,352
39.54
7 4 .6 4
55.43
4 8 .0 9
1 8 .5 5
6.07
71.96
45.02
4 8 .1
I8.56
1-31-23
4-29-31
7- 1 7 -3 1
3-20-30
9 - 9 -3 3
1,4714,760
4 0 8 ,3 7 7
30,297
345,636
1 0 2 ,6 8 2
5 5 .0 5
71.01
33.44
7 4 .3 6
97.54
25.68
65.13
32.66
6 9 .7 7
5 9 .2 7
Commercial National Bank, Wilmington, North Car.
Eirst National Bank, Tracy, Minnesota
Eirst National Bank, Stronghurst, 111. 1/
Peoples-Eir st Nat'l. Bank, White Hall, 111.
Merchants National Bank, Clinton, Iowa l/
1/
9 - 1 2 -3 3
6-23-33
7—
i 1 P—90
$ 8 4 5 ,8 0 5
Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation*
p
('
VJ
District
No. of wks.
- l ö ö
covered
by report
Total collections
and assessments
through Q c t . 25
39,930.29
18, 0 4 5 . 7 S
9
310,776.49
21,340.32
Chicago
8
415,295.83
35,532.51
New Orleans
8
9,430.67
3,197.37
Baltimore
8
8,223.16
3,450.38
Washington D.C.
8
19,874.48
4,456.78
Boston
8
5,208.17
4,384.27
Detroit
8
34,071.81
12,454.04
St .P ftal-M p ls.
8
10,230.68
2,883.00
St. ^ouis
8
18,481.51
5,702.95
Kansas City
8
31,831.88
2,281.48
Newark
8
10,886.84
3,004.80
Brooklyn^ N.Y.
10
41,236.54
6 ,393.30
2nd New York
(Customhouse}
10
1,139,135.78
23,574.28
3rd New York)
(341 Ninth Ave ) 10
283,632.11
32,672.31
Buffalo
9
26,711.02
1,571.07
Oincinnatm
8
6,660.93
2,548.76
Cleveland
8
Philadelphia
8
8,402.00
59,560.46
44,293.21
4,054.58
26,737.00
16,771.48
Pittsburgh
Seattie-Tacoma
9
8
8,329.51
709.70
Milwaukee
8
8,938.76
6,170.15
San Francisco
9
Los Angeles
$
C ollected a t
time of i n v e s t
igat i o n .
c -tjo—
1,800 relief workers are being used, under
supervision of permanent employes of the Internal
Revenue service.
I'he following statment niSHSMMSP lists the
districts in which the investigation is being made,
the period of operation to the date of the report,
the total collections and assessments and the
____at the time of the investigation.
In the first ten weeks of the Miscellaneous
t
,
■
Tax pro j e c i w collecti ons and assessments of delinquent
taxes have amounted to more than the total
amount of money allocated for the entire project
for a year
1 Number c
A Works Progress Administration allotment^of
- v C & M
$£,448,290.80 was made for the pr o ject v
*o C à/s/v
i.
’O s> j^£
A report of the Commissioner of Internal revenue
to Secretary of the treasury Morgenthau shows that iij
the fir rt t s 11 i
jEaggegsapan sd^aaB° , ending October 25a
the total actual expenditure was $363,033.30, coveri
salaries, rent and miscellaneous expense.
Total
collections and assessments for the same period were
$2,542,122.13, or approximately seven times the
total
V-;cost.
The^amount collected at the time of the
investigation was $237,936.05•
T'he Miscellaneous
1ax investigation is being
carried on in twenty-tm> Internal ‘Uevenue collection
districts, comprising twenty metropolitan areas.
Intensive inspections are being made of the books
of furriers, manufacturing jewelers, sporting goods I
manufacturers, cosmetics manufacturers and enterprij
__.
.
, ,
subject to takes on admissions and dues.
Anproxi™
**
Receipts
2 Cross
3 Gross
4 Inter?
| Rents
6 Profii
7 Misee]
Receipts
8 Divide
1 Inter?
Tote
10
Statutoi
n Cost c
12 Cost c
13 Comper
14 Rent 3
15 Inter?
lb Taxes
1 Bad de
18 Deprec
19 Deplet
20 Loss,
21 Miscel
22
Tote
23 Compiled
24 Statutor
25 Cash di\
2b Stock di
Corporation returns for 1933 V
major industrial gro^s, showing number of returns, compiled receipts and statutory deductions net nrofit. or deficit
t t .
income tali, excess-prof its tax, and total tax, net profit after deducting total tax, and d^idends ^ i d
'
7 net lnoome or defloit(Money figures in thousands of dollars)
PAST III.
RETURNS SHOWING NO NET INCOME
m
QUentM
I N D U S T R I A L
Aggregate
1 Number of returns
Receipts, taxable income!
2
Gross sales 1/
3 Gross receipts from other operations 2/
4
Interest
5
Rents
\
6 Profit, sale of capital assets
7 Miscellaneous receipts
Receipts, tax-exempt income:
enue $
8 Dividends from domestic corporations
J 9
Interest on tax-exempt obligations ¿¡J
t in i
10
Total compiled receipts 4/
25,
11
12
13
14
15
16
17
18
19
20
21
22
ering
1
ere
ion
23
24
■kÉ 25
2o
Statutory deductionsJ
Cost of goods sold ¿/
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 5/
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
Miscellaneous deductions
Total statutory deductions
Compiled net deficit (lO less 22)
Statutory net deficit (23 plus 8 and 9 )
Cash dividends paid
Stock dividends paid
337.056
Agricui*
ture and
related
industries
7.818
Manufacturing
Mining
and
quarrying
8,866
Total
manu
facturing
4,882
i,ic6
1,687,843
31.751
6,015
5.812
921
9.891
102,482
104.247
1 ,411,304
35,545
3,481
5,211
1,040
10,083
255.937
846
634
97i
189
2 ,436
398,621
1,612
6,624
2,271
539*756
1.364
154
971
b0
316
IO9
4
259
4*413
4*869
3*502
12*bl8
423,624
2,561
13,407
3,326
1,303
7,223
6,646
140
- „ 336
__
1,277
_ i ^ 7Q_
588,084
1,923
_
912
4547280"
1*708
6,796
615,066
5,821
585,634
437,287
3 7 ,327.342
3 .op
1 .514.565
4.549
16,172
2,846
10,531
_ 6 3 t2b8 _
41.8377760
274,269^
4.510,418
5 .533,339
741,570
21,593
56,491
60,212
2,089
320
751.926
261,265
24.753
9.238
64,185
44.485
12,297
120,050
72,501
29,843
1,639,180
230,922
248,127
37,444
57
: Paper,
: pulp, and
: products
Forest
330
598,325
9 5 ,9 8 4
54 ,7 4 4
24,747
141,284
108,251
26,069
11,083
3.481
16,760
11,260
\ products
1,365
H . 905,552
1 7 ,124,094
5 .574.105
1.133,666
834,711
2,622,209
1,242,256
916,026
1 ,954,137
161,642
: Textiles and: Leather and :
: their prod-: its manu- : Rubber
products
:
ucts
: factures
:
9 ,310
41o*76l
11»543
.....
261
914.386
____5jj?b3
1 ,408.258
:
: m
: T°bacco
: ^ro 110 s
:
1,648
50,142
3,306
6,254
24,663
Liquors and
beverages
(alcoholic
and nonalcoholic)
7 .9 3 4
146*827
12,322
16*145
:
Pood and • :
kindred :
products :
!
62,295
22,104,156
10,333.959
1,913.427
1,191.078
146,735
217;778"
GROUPS
40.854
— Æ m ,
12,880,983
TT749TW
1077755
105,430
9,067,166
314,347
334,990
169,446
283,739
309,028
168,533
783.096
75.062
209,332
2.362.482
H , 07 7 ,222_
1 .310,737
17,248
33.658
17.096
25.706
19.399
16,962
57.835
131
22,417
307.473
1 .82S
60,327
952
5,201
1,767
1,820
8,265
1 ,9 1 4
5,505
20
4,418
aix268_
121,455
79,578
40
2,117
533
1,417
1,217
608
1*294
13.700
14,175
1,090
644
14,458
14,893
4 ,4$
1,188,239
1,256,506
145,007
5,658
78 ,9 9 2
86,428
11.390
553
163
272
100
1,616
225
207_
¿6T .443
Î7îéüf
1 ,153,198
25,042
51,333
20,951
16,885
19,607
16,190
47,780
18
20,274
&£.
.503
205,060
469
8,369
8,141
2,046
2,273
4 ,9 9 0
4 ,7 5 5
2,312
-á¿.3.59
281,773
93,m
96,838
4. * 9
318
20,329
20,761
930
1
n M
8 ,7 2 7
I36
M
4187970
306,346
Jj
4,639
13.433
5.615
5 .370
19.679
11
1,070.
69.316
427,997
9,028
10,000
1,809
67
20*102
422,182
12,173
22,241
5,065
19*541
16,751
17,106
32,578
12,594
10,437
110.204
"680!873
10,881
5,408
25,685
10,381
3,742
30,877
981
3.667
67,981
4877535
92,789
95,335
7 ,7 4 4
434
33,255
36,090
4 ,4 4 7
31
327,479
1.C51
«i
ds
j
rises j
imatÄ
J
~ ' ;gp».
Corporation returns for 1933 W major industrial groups, showing number of returns, compiled receipts and statutory deductionsnet profit or deficit, statutory net income or deficit,
income tax, excess-profits tax, and total tax, net profit after deducting total tax, and dividends paid (continued)
(Money figures in thousands of dollars)
PART III.
RETURNS SHOWING NO NET INC0NE
I N D U S T R I A L
GROUPS
(continued)
Manufacturing (continued)
Printing,
publishing,
and allied
industries
1 Number of returns
:
: Chemicals
:
allied
; Products
Stone,
clay, and
glass .
products
* ManufacMetal and * tuning not
its products ’ elsewhere
* classified
Construction
Transporta
tion and
other public
utilities
Trade
8,886
4,696
3,186
13,849
4,842
14,112
14,349
93,621
Receipts, taxable income;
Gross sales l/
Gross receipts from other operations 2/
Interest
Rents
Profit, sale of capital assets
Miscellaneous receipts
Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt obligations 3/
Total compiled receipts 4/
452,197
197,416
3,068
4,851
1,528
7,988
1.933.273
193.407
19.833
8,047
3,960
18,960
276,299
4.653
2,246
1.575
647
4,211
3,860,222
101,428
32,038
13.167
10,645
52,110
459.748
6 ,972
3.572
3.171
630
5,608
375,666
285,035
10,291
11,602
2,517
10,623
5 ,377,748
130,442
65,642
6,720
103,592
8,761,746
226,894
34,691
50.851
8,509
130,222
6,304
875
674,228
13,652
1,269
2 ,192,401
377
1.119
291,128
7,922
_16 ,.973 .
4,094,505
473
1.298
481,472
8,382
.2,831
706,946
142,416
I__ .7,059.
5,833,620
9,938
5-,6^7
9,228,476
300,642
125,426
44.281
18,878
13.859
6,648
13.278
26,431
14
„5.535
169.274
724.965
1 .351.799
194,129
3 .330
14.768
2,846
11,906
8,044
4.611
35.897
1.069
,3 .5 6 9
65,098
345.266
3 .014.537
341.152
2.677
18
19
20
21
22
Statutory deductions:
Cost of goods sold 5/
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 5/
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
Miscellaneous deductions
Total statutory deductions
303,233
211,009
5I.O95
10,271
20,512
8 ,7 9 5
12,097
34.956
726,192
4 .563,737
23
24
25
26
Compiled net deficit (1 0 less 22)
Statutory net deficit (23 plus 8 and 9 )
Cash dividends paid
Stock dividends paid
50,737
57,917
5,305
313
174,292
189,213
45,590
329
54,138
5 5 ,0 5
3,646
114
469,231
494,126
51,507
2,738
2
3
4
?
7
8
9
10
11
,12
fl3
N*5
16
M
\u
2/
r
r
1
w
81,722
20,568
41.197
55.488
87,173
20,509
184,291
50,422
46,745
426,778
44.134
95 .1 7 7
34.370
85,329
115,880
47.778
311,748
9,611
78,980
23,260
8,556
10,623
7 .7 7 4
15,47b
24,427
191
9,808
.1 2 0 -9 3 2 ,
564,875
8 3 ,40)4
85,175
3 ,0H
lib
m
9.726
125.-353
787.179
80,232
91,445
16,970
2,031
3.281,1 .
42,659
92,748
1 .052,974
366,911
45,903
467,065
9,035
121,711
— 9 4 6 .407,
6,427,261
593,641
743,116
147,721
1,200
Gross sales where inventories are an income-determining factor.. For "Cost of goods sold" see "Statutory deductions."
ross receipts from operations where inventories are not an income-determining factor. For "Cost of other operations" see "Statutory deductions."
Includes obligations of States and territories or minorpolitical subdivisions, securities issued under the Federal Farm Loan Act and obligations of the
United States or its possessions.
Includes net profit from Sale of capital assets (real estate, stocks, bonds, etc.) but not gross receipts from these items. Excludes nontaxable income
other than interest on tax-exempt obligations and dividends on stock of domestic corporations as reported in Schedule L of the return.
The Cost of goods sold" and "Taxes paid other than income tax" are In-process of revision.
Includes for a limited number of returns the cost of securities purchased for customers.
Includes special non-expense deductions of life insurance companies.
Deficit *
*
Less than $5 0 0 .
6,893,519
103,865
'
315.476
264,720
9 1 ,X97
87,666
148,188
121,643
65,^84
1,596,409..
9,689,096
460,620
476,184
34,139
3,515
: Service : Profes: sional,
: amuse: ments
¡hotels, etc.
35,419
1,695,526
12,271
190,619
4,058
44.475
5,279
. 1.073.
1,953,302
682,860
92,206
157,164
153,169
91,895
: Finance : Banking,
: insurance,
¡real estate,
; stock and
¡ bond
; brokers,
:
etc.
Nature cd?
business
not given
9 9 ,3H
1,262
1,677,684 6/
1,613,725
794.973
91.597
5.844
363.419
769
........ 42 _
7,685
154,083
- 386*812
5,082,293
394
249
83
303
169,905
. 93
61,75b
_ 888,157
2,324,972
688,422
260,861
127,397
938,876
321,894
495,960
240,875
1,4 4 4
1,003,347
2,526
>05,
12,712
371,671
378,023
10,512
1,179
1 ,523,575
2,273,806
347,318
7,633
5,027
5,838
373
1
27,766
4,420
741
246
798
321
732
367
%
2,43b
Treasury Department, Division of Research and Statistics
;iA-
i
1
Aj2.
(
^cnk II
/Up
No%—ÎÏ104
■— ■* «•-.,-** u
\ T-» V
\ ^) r
—
Of UU6,SU2 a c t i v e c o rp o ra tio n s which f i l e d income t a x re tu rn s
f o r 1933 » 337 »05 ^* o r 75 *H p e r c e n t, showed no ta x a b le n et income,
as compared w ith 369 * 23 S, o r 21*7 p e rc e n t o f th e t o t a l , f o r 1932 *
This i s a d e cre a se in th e number showing no n et income o f 8*7
pe^ent
L\a XQ.
t fijJL^GLÆsM
ftkA*. Ù-* $ VaJZJlUi
hun*...i fvi Ì f 3 5
/ T o t a l compiled r e c e i p t s com prising s t a t u t o r y income and t a x exempt income (d ivid en d s on s to c k o f dom estic c o rp o ra tio n s and i n t e r e s t
on tax-exem p t o b lig a tio n s ) o f th e s e c o rp o ra tio n s were $ 37 * 327 »000»000
f o r 1933» a s a g a in s t $ U 9 ,7 ^ 3 * 0 0 0 ,0 0 0 f o r 1932*
Compiled n et d e f i c i t s
were $H ,5 1 0 ,0 0 0 ,0 0 0 a s a g a in s t $ 6 ,5 ^ 7 * 0 0 0 ,0 0 0 f o r 1932*
Cash dividends
p aid were $ 7^-2 , 000 , 000 , compared w ith $ 1 , 5^5 *000,000 in 1932 .
The fo llo w in g t a b le p re s e n ts c o rp o ra tio n re tu rn s showing no
ta x a b le n et income f o r 1933* by m ajor i n d u s tr i a l grou p s.
I t shows
number o f r e tu r n s , com piled r e c e i p t s and s t a t u t o r y d ed u ctio n s, n e t
d e f i c i t , and dividends p a id .
I
TREASURY DEPARTMENT
WASHINGTON
Press Service
No. 6-22
RELEASE, MORNING NEWSPAPERS
MONDAY..NOVEMBER 11. 1935.
11/7/35
Of 446,842 active corporations which, filed income tax returns for
1933, 337,056, or 75.4 percent, showed no taxable net income, as compared
with 369,238, or 81.7 percent of the total, for 1932.
in the number showing no net income of 8.7 percent*
This is a decrease
These figures, released
by the Treasury Department, will cuppear later in published form in Statistics
;V.'
of Income for 1933.
Total compiled receipts comprising statutory income and tax-exempt
income (dividends on stock of domestic corporations and interest on tax-exempt
obligations) of these corporations were $37,327,000,000 for 1933, as against,
$49,783,000,000 for 1932.
$6,567,000,000 for 1932.
Compiled net deficits were $4,510,000,000 as against
Cash dividends paid were $742,000,000, compared with
$1,565,000,000 in 1932.The following table presents corporation returns- showing no taxable net
income for 1933, by major industrial groups.
It shows number of returns,
compiled receipts and statutory deductions, net deficit, and dividends paid.
Corporation returns for 1933
ma-jor industrial groups, showing number of returns, compiled receipts and statutory deductions, net profit or deficit, statutory net income or deficit,
income tax, excess-profits tax, and total tax, net profit dfter deducting total tax, and dividends paid
(Money figures in thousands of dollars)
PART III.
RETURNS SHOWING NO NET INCOME
IN D U S T R I A L
GROUP S
I
Aggregate
1 Number of returns
Receipts, taxable income:
Gross sales l/
Gross receipts from other operations 2/
interest
Bents
Profit, sale of capital
assets
Miscellaneous receipts
Receipts, tax-exempt income:
8 Dividends from domestic corporations
9
Interest on tax-exempt obligations 3/
10
Total compiled receipts 4/
2
3
4
5
6
7
11
12
22
Cost of goods sold
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 5/
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
Miscellaneous deductions
Total statutory deductions
23
24
25
26
Compiled net deficit (lO less 22)
Statutory net deficit (23 plus 8 and 9 )
Cash dividends paid
Stock dividends paid
13
H
15
16
17
18
19
20
21
Agricui*
ture and
related
industries
Mining
and
quarrying
337,056
7.8x8
8,866
2 2 ,104,156
10,333,959
1 ,913.427
1,191,078
146,735
615,066
146,827
50,142
3 ,306
6,254
1*708
5,821
914,366
416,761
12,322
16,145
6,796
24,663
Total
manufacttiring
:
:
:
Manufacturing
Food and
kindred
products
62,295
7.934
11,905,552
598,325
95.984
54 .7 4 4
24,747
141,284
1,687,843
31,751
6,015
5,812
921
9 ,891
; Liquors and
: beverages
: (alcoholic
: and non: alcoholic)
1,648
102,482
1,973
336
1,364
154
971
585,634
3 »033
11,543
4 0 .8 5 4
6,646
140
____437,2o7_________6 0 8 ______ 5 .bo3______ 2 ? »493 _____ i 7y9 _________ 336
3 7 ¿327,342
217,778
F,408,258
12,888,983
I',749,669
107,755
108,251
17,124,094
751.926
26,069
261,265
5,574,195 .
1.133.666
11,083
24.753
834,711
9,238
3.481
2,622,209
16,760
64,185
1,242,256
11,260
44.485
916,026
12,297
4,549
120,058
16,172
1 .954,137
2,846
72,501
161,642
10,531
i » S 4.565
29,643
■ .63,268... . 248,629
: J j & 3 50
1,639,100
. 4i.B37.76o . 274359
4 ,510,418
5 ,533.339
741,570
21,593
56,491
60,212
2,089
320
230,922
248,127
37,444
57
9,067,166
3H ,347
334i990
169,446
283,739
309,028
168,533
783,096
75,062
209,332
2,362,,
14,077,222
1,188,239
1,256,586
145,007
5,658
1 ,310,737
17,248
33,658
17,096
25,706
19,399
16,962
57,835
131
22,417
„ -30L 4 Z1
78,992
86,428
11,390
553
:
: Tobacco
: products
:
:
26I
104,247
bO
316
109
4
259
Textiles and: Leather and : Rubber
their prod-: its manu- : products
ucts
factures
:
9,310
1 ,411,304
35,545
3.481
5,211
1,040
10,083
1.365
255,937
846
634
971
I89
2,436
330
79,578
1 ,153.198
.25,042
51,333
100
32.984
119,888
192.224
1 ,563,503
13.700
14.175
1,090
644
14,458
14.893
4,448
-
93,885
96,838
4,089
318
40
2,117
533
1,417
1,217
608
1,294
2 0 ,9 5 1
16,885
1 9 ,6 0 7
16,190
47,780
18
2 0 ,2 7 4
205,060
o 469
8,369
8,141
2,046
2,273
4,990
4,755
2,312
43,359
281,773
2 0 ,3 2 9 .
20,761
93O
1
Forest
products
: Paper,
: pulp, and
: products
4,882
1,106
539.756
20,102
4 ,413
4,869
3,582
12,8l8
398,621
1,612
6,624
2,271
143
8,727
163
l,6l6
225
136
____
272_______ 1,338_______
207________ 836
105,430
1,469,617
261,443
418,970
60,327
952.
. 5,201
1.767
1,820
8,265
1,914
5,505
20
4,418
31.268
121,455
|
423.624
2,561
13.407
3,326
1,303
7,223
1.277
1,923
____ 1 ,2 7 0 _________ 912
588,084
454,280
327,479
306,346
83
12,173
1.CÇ1
2 t ¿$6
4.i>39
13^ 1-33
m >15
22,241
5,065
19,541
16,751
17,106
32,578
12,594
10,437
110,204
680^873
10,881
5,408
25,685
10,381
3 ,7 4 2
30,877
981
3,667
67.381
487,535
5.370
19,679
11
1,070
69.316
427.997
9,028
10,000
1,809
67
.
;
92,789
95.335
7 ,7 4 4
434
..-
33,255
36,090
4.447
31
Corporation returns for 1933 "by ^ajor industrial groups* showing numbef of returns, compiled neceipts and statutory deductions, net profit or deficit, statutory net income or deficit,
income tax, excess-profits tax, and total tax, net profit afflter deducting total tax, and dividends paid (continued)
(Money figures in thousands of dollars)
PART III.
RETURNS SHOWING NO NET INCOME
I N D U S T R I A L
GROUPS
(continued)
Manufacturing (continued)
Printing,
publishing,
and allied
industries
1 Number of returns
Receipts, taxable incomei
Gross sales if
3 Gross receipts from other operations 2/
4
Interest
5 Rent s
o Profit, sale of capital assets
7 Miscellaneous receipts
Receipts, tax-exempt income:
8 Dividends from domestic corporations
9
Interest on tax-exempt obligations
10
Total compiled receipts AJ
2
Statutory deductions:
Cost of goods sold
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income tax 5/
Bad debts
Depreciation
Depletion
Loss, sale of capital assets
21 Miscellaneous deductions
22
Total statutory deductions
11
12
13
14
15
lo
17
18
19
20
23
24
25
2o
Compiled net deficit (lO less 22)
Statutory net deficit (23 plus 8 and 9 )
Cash dividends paid
Stock dividends paid
Chemicals
and allied
products
Stone,
clay, and
glass
products
Metal and
its products
Manufac
turing not
elsewhere
classified
Construction
8,886
4,696
3,186
13.849
4,842
14,112
452,197
197,416
3,068
4,851
1,528
7.988
1 ,933,273
193,407
19.833
8,047
3,960
18,960
276,299
4.653
2,246
1.575
3 ,860,222
101,428
32,038
459,748
6,972
3,572
375,666
13,167
10,645
3.171
6,304
875
674,220
13,652
I .269
2 ,192,401
291,128
300,642
125,426
1 ,351.799
81,722
44,981
194,129
3,330
20,568
18,878
41,197
55,488
87,173
14,768
2,846
11,906
8,044
4,611
13,859
6,648
13,278
26,431
H
5.535
169,274
724,965
50,737
57,917
5,305
313
20,509
184,291
50,422
46,745
426,778
174,292
189,213
45,590
329
647
4,211
52,110
377
7,922
16.979
4,094,505
1.119
3,014,537
345.266
;44,134
95,177
34,370
85,329
115,880
47,778
311.748
9,611
78,980
726,192
4,563,737
54,138
55,635
3,646
114
469,231
494,126
51,507
2,738
35,897
1,069
,3*569
„ 65,098
630
5,608
473
1.298
481,472
341,152
2,677
23,260
8,556
10,623
285,035
10,291
11,602
2,517
10,623
Transporta
tion and
other public
utilities
14,349
93,621
5.377,748
8 ,761,746
226,894
130,442
65,642
6,720
103,592
142,416
8,382
2*831.- .....7-,059.
5 ,833,620
706,946
303,233
211,009
51,095
10,271
20,512
7,774
8,795
366,911
15,476
24,427
191
9,808
12,097
45.9Ç3
34,956
m
9,726
407,065
83,404
85.175
3,014
116
325353787379
80,232
91,445
16,970
2,031
9,035
121,711
— 946,407..
6,427,261
593,641
743,116
147,721
1,200
/ Gross sales where inventories are an income-determining factor. For "Cost of goods sold" see "Statutory deductions."
/ Gross receipts from operations where inventories are not an income-determining factor. For "Cost of other operations" see "Statutory deductions."
rLru7f'es
ions of States and territories or minor political subdivisions, securities issued under the Federal Farm Loan Act and obligations of the
United States or its possessions.
4/ ncludes net profit from sale of capital assets (real estate, stocks, bonds, etc.) but not gross receipts from these items. Excludes nontaxable income
cj mi.0 „pr tilan -t-est on tax-exempt obligations and dividends on stock of domestic corporations as reported in Schedule L of the return.
jj
e Cost of goods sold" and "Taxes paid other than income tax" are in process of revision.
J
ncludes for a limited number of returns the cost of securities purchased for customers.
il Deficit^ SPeCisl non-exPense
ions of life insurance companies.
Less than $500.
34,691
50,851
8,509
130,222
103,865
'
315,476
264,720
9!,197
87,666
148,188
121,643
65,884
.1,596,409.
4,050
1 ,677,684 6/
.1 ,613,725
794,973
91,597
5,844
394
249
83
44,475
154,083
303
363,419
986.812
5 ,082,293
......42
7,685
688,422
4,420
260,661
127,397
938,876
321,894
495,960
240,875
741
1,695,526
12,271
190,619
5,279
1.075 .
1,953,302
682,860
92,206
157364
153,169
91,895
27,766
169,905
L
3
61,750
l.152
9,689,096
2,1324,972
460,620
476,184
371,671
378,023
10,512
1,179
34,139
3,515
Nature of
business
not given
1,262
9,938
._.. 5.627 .
9,228,476
: Finance •#.
: Banking,
: insurance,
:real estate,
: stock and
: bond
: brokers,
:
etc.
99,314
35,419
6,893,519
3,281,848
42,659
92,748
1,052,974
■120332564,875
Trade
Service Profes
sional ,
amuse
ments
hotels, etc.
769
246
798
321
732
367
1,444
2,436
1,003,347
2,526,994
V
6,605,868‘2/
-
12,712
1,523,575
2,273,806
347.316
7,633
Treasury Department, Division of Research and Statistics
TREASURY ESP ABBOTT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
S atu rd ay , November 9 , 1 9 3 5 .
1 1 /6 /3 5
P r e s s S erv ice
S e c r e ta r y o f th e T reasury Morgenthau announced l a s t evening t h a t th e tenders
f o r two s e r i e s o f T reasury b i l l s , t o be dated November 1 3 , 1 9 3 5 , which were
o f f e r e d on November 6 , were opened a t th e F e d e ra l R eserve banks on November 8 ,
1935.
Tenders were in v ite d f o r the two s e r i e s to th e a g g re g a te amount o f $100,000,00
o r th e re a b o u ts , and $ 3 5 3 ,1 1 8 ,0 0 0 was ap p lied f o r , o f which $ 1 0 0 ,1 4 9 ,0 0 0 was accepte
The d e t a i l s o f the two s e r i e s a r e a s fo llo w s :
124-DAY TREASURY BILLS, MATURING MARCH 1 6 . 1936
For t h i s s e r i e s , which was f o r $ 5 0 ,0 0 0 ,0 0 0 , o r th e re a b o u ts , th e t o t a l amount
ap p lied f o r was $ 1 9 2 ,5 9 0 ,0 0 0 , o f which $ 5 0 ,1 3 2 ,0 0 0 was a c c e p te d .
The accep ted
b id s ranged in p r i c e from 9 9 .9 9 5 , eq u iv alen t t o a r a t e o f about 0 .0 9 3 p ercen t
p er annum, to 9 9 .9 9 2 , e q u iv a le n t to a r a t e o f about 0 .0 8 1 p e rce n t per annum, on
a bank d isco u n t b a s i s .
a c c e p te d .
Only p a r t o f th e amount b id f o r a t th e l a t t e r p r ic e was
The a v e ra g e p r ic e o f T reasu ry b i l l s o f t h i s s e r i e s t o be issu ed i s
9 9 .9 9 3 and th e average r a t e i s about 0 .0 9 9 p e rc e n t p er annum on a bank discount
b a s is.
273-DAY TREASURY BILLS, MATURING AUGUST 1 2 , 1936
F o r t h i s s e r i e s , which was f o r $50,000,000, o r th e re a b o u ts , th e t o t a l amount
a p p lied f o r was $ 1 5 0 ,5 4 8 ,0 0 0 , o f which $ 5 0 ,0 1 9 ,0 0 0 was a c c e p te d .
The accep ted
b id s ranged In p r i c e from 9 9 .8 9 9 , e q u iv a le n t to a r a t e o f about 0 .1 3 6 p e rce n t per
annum, t o 9 9 .8 8 9 , e q u iv a le n t t o a r a t e o f about 0 .1 4 9 p e rc e n t p e r annum, on a
bank d is co u n t b a s i s .
a c c e p te d .
Only p a r t o f th e amount b id fa t a t th e l a t t e r p r i c e was
The averag e p r ic e o f T reasu ry b i l l s o f t h i s s e r i e s to be issu ed i s
9 9 .8 9 2 and th e average r a t e i s about 0 * 1 4 3 p e rc e n t p er annum on a bank discount
b a s is *
TREASURY DEPARTMENT
Washington
JOB RELEA.SE, MORNING NEWSPAPERS,
Saturday ». November 9«. 1935#
11-8-35.
Press Service
No* 6-23
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to he dated November 13, 1935, which were.offered
on November 6, were opened at the Federal Reserve hanks on November 8, 1935«
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $353,118,000 was applied for, of which
$100,149,000 was accepted.
The details of the two series are as follows;
124-DAY TREASURY BILLS, MATURING MARCH 16, 1936
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $192,570,000, of which $50,132,000 was accepted.
The accepted
bids ranged in price from 99#975, equivalent to a.rate of about 0.073 percent per
annum, to 99.972, equivalent to a rate of about 0.C81 percent per annum, on a bank
discount basis.
Only part of the amount bid for at the latter price was accepted#
The average price of Treasury bills of this series to be issued is 99.973 and the
average rate is about 0.079 percent per annum on a bank discount basis.
27J5-DAY TREASURY BILLS, MATURING AUGUST 12, 1936
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $160,548,000, of which $50,017,000 was accepted.
The accepted
bids ranged in price from 99#897, equivalent to a.rate of about 0.136 percent per
annum, to 99.887, equivalent to a rate of about 0.149 percent per annum, on a bank
discount basis.
Only part of the amount bid for at the latter price was accepted#
The average price of Treasury bills of this series to be issued is 99#892 and the
average rate is about 0.143 percent per annum on a bank discount basis#
ooOoo
TREASURY DEPARTMENT
Washington
«
November 11, 1935«
orandum f o r the press
RECEIPTS OP SILVER BY THE MINTS AHD ASSAY OPE ICES: ^ ^
^ .
f£der Executive Proclamation? of December 21, 1933) as amended
Week ended November 8, 1935:
Philadelphia# .................... ....... .
San F r a n c i s c o , ...............
Denver .......................... ...•••••.... .
Total for week ended November 8, 1935........... .
Total receipts through November 8, 1935...........
211,315.07 fine ounces
92,039,02
H
*
17.196,25
n "
320,550#34
”
52,566,000,00
n
u
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 8, 1935:
Philadelphia# •. •............ .................. .
New York#
....... .... ..........
San Prancisco# •-. ............ .................
Denver.... ....... ............................
New Orleans.......... ............. ............
Seattle.... ........... ••........ ........ * ***
Total for week ended November 8, 1935....
Total receipts through November 8, 1935 ............
170.00 fine ounces
447.65 M
n
590.92
231.73
1,440.30
113,015,000.00
RHCTprps OP GOLD BY THE MINTS AND ASSAY OFFICES!
[imports
Week ended November 8, 1935:
5,524.33
Philadelphia •........ ......... $
Hew York*...................... 19,192,000.00
I
Z
................
’ 109:322,13
..............................
49,213^36
New Orleans...................
12,936,69
.. - ~
Seattle......................
Total for week ended November 8..$19,368,996.51
Secondary
$ 156,468,64
45,731.20
36,156.24
70,424.77
.■ 15,406.23
$ 705,337.08
New Domestic
$
297,82
371,100,00251,200.00
461,541,78
587,19.
668.593.73
$3,043,070.22
GOLD RECEIVED BY THE FEDERAL RESERVE BANKS AND THE TREASURER,*S OPPICE.:
(Under Secretary*s Order of December 28, 1933)
Ropqi wori "Vnr T?oiioran ppcoT"3ro Tkrnks »Gold Coin
18,,302, 84
$
30, 882 ,888. 01
,$30, 901.,190. 85
Received by Treasurers Office:
4
Received previously.
Total to November 7
NOTE:
• • • «• • ►
4
200.,00
266 ,056.,00
266 ,256.,00
Gold Ccrt_if x
$
478,730.00
99,088.990.00
$99,567,720.00
$
4,100,00
2,282,500.00
$ 2,286,600.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
*
TREASURY DEPARTMENT
Washington
Press Service
No. 6-24
for r e l e a s e , m o r n i n g n e w s p a p e r s ,
Friday, November 15, 1935.______
11-13-35.
The Treasury today made public further data from corporation income tax
returns for the calendar year 1933.
These data will be published in Statistics
of Income for 1933.
The following table gives corporation returns for 1933 for agricultural,
mining and quarrying, and manufacturing industries by sub-groups and by returns
with net income and.no net income, showing number of returns, gross income, net
income or deficit, total tax, income tax and excess-profits tax, and also number
of returns for inactive corporations.
Similar data for the other industrial
groups will "be made public shortly.
The item "gross income" differs from the item "compiled receipts1', shown
in tables released last week, only in excluding interest on tax-exempt obligations,
a relatively small item.
V
Corporation returns for 1933
maj°r industrial groups and subgroups and by returns with net income and no net income, showing number of returns,
gross income, net income or deficit, total tax, income tax, and excess-profits tax, also number of returns for inactive corporations
(Money figures in thousands of dollars)
Serial
number
Industrial groups
Returns showing net income
Returns showing no net income
: Number of
: returns show: ing no income
: data-inactive
: corporations
Total
number
of returnè
Number
* Gross
‘ income 1/
9.147
1 ,2 5 9
161,135
13,625
1 ,9 7 4
1,926
48
6,934
180,005
50,227
954
1
1 ,3 4 3
184
1,269
I82
. 14.394.
2,156
55
884
7,818
37,085
217,090
9.985
60,212
275
1,229
2
1 ,4 4 3
I76
2,102
7
1 0 ,4 9 0
16,905
178,040
730
134
91,261
l8 ,5 8 l
2 ,6 0 9
2,567
43
530
298,935
5 4 ,5 5 2
66
3
I43
1,996
4,066
42
396
77.661
137,659
122,014
3,006
7,243
22,708
1,029
3.315
427
16
26
171
93
2,711
185,215
381,373
427,470
13,863
54,792
66,253
8
145
200
98,251
28,833
1 0 ,3 9 6
1 .4 5 2
9,692
71,686
1.352
10,201
10
14
280
1,488
2,589
8,866
91,176
18,427
1,402,596
23,108
35,558
248,127
121
4.759
5 1 .7 0 2
7.240
5,884
3,517
61
5,681
2,714
203
19,466
10,365
28
170
157
3 ,4 8 9
1 ,0 5 3
635
379,914
162,408
132,089
5 .2 3 5
72
10
11
23
9 ,2 5 4
30
22
12
13
227
14
*
Net
‘ income
\ Total
\ Income
j
]
tax
tax
: Excess: profits
: tax
,T ,
aumoer
*
:
Gross
, / : Deficit
income 1/
'Serial
number
AGRICULTURE AND RELATED INDUSTRIES:
1
Farming— Cotton, grain, stock;horticulture andall
other farming; lessors
Related industries— Forestry, fishing, ice harvesting, and
other related industries; holders and lessors
2
Total agriculture and related industries
3
4
5
b
7
8
MINING AND QUARRYING:
Metal mining— Iron, copper, lead, zinc, gold, silver, quick
silver
Coal:
Anthracite
Bituminous, lignite, and peat
Oil and gas
Other minerals— Asbestos, clay, granite,precious and semi
precious stones, salt. etc.
Mining and quarrying, n.e.c., lessors and holders
Total mining and quarrying
9
10
11
12
| 13
I 14
MANUFACTURING:
^
Food and kindred products:
Bakery and confectionery products
Canned products— fish, fruit, vegetables, poultry, etc.
Mill products— Bran, flour, feed, etc.
Packing-house products— Fresh meats, ham, lard, bacon; meat
canning, byproducts, etc.
Sugar— Beet, cane maple, andproducts
Other food products— Artificial ice, butter substitutes,
cereals, coffee, spices, dairy products, etc., food
products, n.e.c.
Total food and kindred products
Liquors and beverages:
Soft drinks— Cider, mineral or spring water, etc.
Liquors— Wines, beer, malt extract, malt yeast, alcohol, etc.
1 15
* l6
Total liquors and beverages
1 17
Tobacco products
1
I lo
Textiles and their products:
Cotton goods— Dress goods, plain cloth, etc., napping and
dyeing
Woolen and worsted goods— Wool yarn, dress goods; wool
pulling, etc.
Silk and rayon goods— Silk fabrics; spinning, etc.
Carpets, floor coverings, tapestries, etc.
Textiles, n.e.c., cord, felt, fur, hospital and surgical
I 19
20
21
122
¡
supplies, linen, other textiles, etc.
Clothing— Custom-made, factory-made,’ coats, underwear,
millinery, and clothing, n.e.c.
Knit goodp— Sweaters, hosiery, etc.
24
1,946
8,266
1 ,1 5 5
443
1,003
3 ,1 4 3
337
918
2,982
555,679
1,238
873
663
531
600,685
407.855
605,167
848
228
315
117
2,016,924
476,640
5 3 .5 3 5
3.252
7,447
3 ,2 2 9
7 ,4 1 9
4 ,9 1 5
1,748
1,429,248
70,670
10,196
9 ,9 0 9
1 2 ,8 5 9
4,247
5,536,520
264,6O6
37.537
1,868
1,101
93,803
I3.592
3 9 0 ,6 8 4
2,969
521
377
898
405
17,147
3,757
1 ,873
i
41,108
2 4 ,9 4 0
1 ,4 4 3
1 ,3 3 8
9 ,9 2 1
7 ,1 7 9
1 ,4 5 5
89
471,680
149,661
287
2 ,9 4 0
453,128
36,906
631
7.934
1,748,880
1,869
8,330
57
340
1 ,2 3 4
57,830
5 9 ,7 7 1
1,926
8,670
484,487
73,363
10,596
1 0 ,1 9 9
397
414
1,648
122
837,949
6 5 ,2 2 4
9,007
8 ,9 9 8
8
793
488
660,747
49,850
6,948
6 ,8 1 7
132
554
3 1 7 ,8 1 1
2 9 7 .5 2 6
26,315
3,782
3 2 ,9 8 7
4 ,5 7 9
121
61
117
286
258
38
4,000
1 .3 5 3
7,820
1,254
1 5 ,3 5 1
2,661
580
3,664
1,180
22,651
28
503 ‘
Leather and its manufactures:
Boots, shoes, slippers,"etc.
Other leather products— Gloves, saddlery, harness, trunks,
finishing and tanning leather, etc.
27
Rubber
products:
Total
leather and its manufactures
Tires and tubes, etc.
Other rubber goods--Boots, shoes, hose, and artificial rubber
Bone, celluloid, and ivory products
28
29
Total rubber products
30
31
Forest products:
Saw-mill and planing-mill products
Other wood products— Carriages, wagons, furniture, baskets,
etc.
Total forest products
32
33
34
35
36
37
Paper, pulp, and products
Printing, publishing, and allied industries
Chemicals and allied products:
Petroleum and other mineral oil refining
Chemicals proper, acids, compounds, etc.
Allied chemical substances--Drugs, oils, paints, soaps, and
other chemical substances n.e.c.
Fertilizers
Total chemicals and allied products
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Stone, clay, glass, and related products
Metal and its products:
Iron and steel— Products of blast furnaces, rolling
mills, foundries, etc.
Locomotives and railroad equipment
Motor vehicles, complete or parts
Factory machinery— Food-production machinery; leather, metal,
paper, printing, textile, and woodworking machinery
Agricultural machinery and equipment
Electrical machinery and equipment
Miscellaneous machinery— Building, construction, gas, and
mining machinery and equipment
Household machinery and equipment, etc.
Office equipment, etc.
Metal building material and supplies
Hardware, tools, etc.
Precious-metal products and processes; jewelry, etc.
Other metals, products, and processes; combinations of
foundry and machine shop
Total metal and its products
52
53
54
Manufacturing not elsewhere classified:
Radios, complete or parts
Musical, professional, and scientific,instruments, optical
goods; canoes; electric launches, etc.
Airplanes, airships, seaplanes, etc.
Total manufacturing not elsewhere classified
Grand total manufacturing
R
6
7
8
5 .2 9 9
9
27,337
86,428
678
4 9 ,5 9 0
5,407
8,768
II3
3IO
107,420
14.175
423
261
105,158
14,893
22
17
288
193,538
18,022
17
18
20
21
!5
16
242
73,239
1 8 2 ,9 9 4
6,891
I4.728
19
525
73
41,512
2 ,2 4 3
26
3°
6
18,271
101
22
23
24
4.O39
581
3,661
4,518
562
571,005
41.329
5.782
5,681
101
2,546
258,885
9 7 6 ., 224
3 2 ,3 8 0
4,664
2,438
4 ,4 5 0
2 ,3 2 1
3 , 1 8 3 ,8 9 4
2 8 ,7 7 4
28,010
214
117
764
5,014
622
9 , 3 io
5 5 5 ,1 0 8
l6,«32
203,733
506
4 7 5 .4 8 2
2 9 ,9 3 6
4.209
^4» 122
87
634
180,478 "
14,046
40
25
1,227
467
2 5 1 ,5 4 3
17,650
2,540
2,460
80
731
26
973
7 2 7 ,0 2 4
47,586
6 , 749_ _
6,582
167
1.365
6,715
20,761
29
2,407
80,758
261,236
26
6 ,9 6 6
5 ,5 5 0
823
i,o n
794
114
986
768
11 3
26
25
1
52
217
61
3 76 ,5 6 7
33,236
8 ,3 3 1
7,28 0
2,20 4
330_
813
63,105
163,005
1,468,280
Total textiles and their products
29' —
2o
14,770
A
%
§3
385
104
m
36
19 9 ,339
8 1,2 3 8
19 ,7 3 6
572
215
300,313
13 ,3 3 9
1 ,9 1 9
1 ,8 6 7
52
3 .O45
582
I3 I.293
6,0 58
856
836
20
3 .8 3 4
I.O56
275.853
16,687_
2 ,4 1 6
2 ,3 1 7
8,879
1,6 3 8
£ 2 ,7 4 5
3 ,2 7 2
2 ,1 6 4
993
1 2 ,0 7 7
-SMÉ-
30
99
2,630
265,407
4 3 ,4 5 0
148
31
3.153
11 9
4,882
586,815
9 5 ,3 3 5
359
7 ,2 5 0
9 ,8 5 3
169
12 4
1 ,1 0 6
453,368
673.352
36,090
65
32
57.917
478
33
32
432
169
1 .731.449
1 7 ,6 6 5
128,206
2,464
60
28
34
35
3.930
388,036
305
474
3
165
5 3 .9 8 1
5 3 .7o6
4,837
400
36
36
37
38,240
535
4,696
2,191,132
189,213
524
4 ,8 26
86
3,186
290,009
55,635
284
38
2,015
161
14,825
50
1,508,079
78.463
738,908
122,045
20,641
69,053
IO8
U
11
1,835
122
576
60
39
40
41
3,231
858
1.417
72
7
935
352
159,116
bb,049
20
573
1 9 7 ,1 3 0
27,630
20,528
24,256
6l
49
43
42
43
44
1,238
2,101
1,588
47
1,847
763
235
152
55
21
78
133
20
f
46
47
48
49
50
51
210
173
2 ,2 0 6,990
502,383
58 ,358
4 8 ,0 14
8,
6,
8 ,3 4 6
6 ,2 9 6
311
1 ,9 6 5
110
1 ,3 4 1 ,8 4 4
4 3 .4 3 7
16 4 ,3 1 6
2 ,2 2 1
23,
22,808
7 ,6 7 9
2,458
4 ,0 9 4 ,6 5 4
272,909
38
4 ,1 1 2
642
428,580
3 4 ,7 6 2
2 ,4 7 6
158
8 14
533
309,320
8 ,9 7 1
1 ,4 6 6 ,4 1 7
14 ,48 8
1 ,1 7 0
10 2 ,5 2 5
1 ,3 8 6
502
822
390
2 3 ,5 4 7
6 ,1 0 2
10 ,2 2 5
3
101
206
18 1,8 4 8
150 ,989
269,^92
2,465
466
1 3 9 ,7 0 4
1,!17
1,2 8 5
2 ,1 2 4
328
299
72
8 ,9 3 0
1 4 ,7 8 5
1 1 ,1 1 7
1 ,7 3 9
2 ,4 3 7
1 ,5 9 1
772
631
2 6 ,2 1 2
4,0 03
3.711
3,651
573
552
60
21
6,781
165
18
23
8,886
300,526
117,134
672
7 1 .5 4 3
94.074
13,206
6,737
29,721
34,768
6 ,5 4 9
882
190
2 42 ,756
80,048
88 ,225
248,927
119 ,6 7 8
976
7 5 3 ,2 1 6
58,588
8 ,2 1 9
8,175
44
2,832
251,881
24,918
146
3 .9 5 4
19,08 0
4 ,2 9 1
4 ,0 5 9 ,6 9 4
2 8 7 ,19 2
40,942
4 0 ,565
377
13,849
4 ,077,533
494,126
940
200
50
29,787
1 ,1 9 3
183
168
16
134
5 3 .4 5 5
11,084
16
6,944
134
7,278
1,437
13
1,500
505,875
6,306
50,155
38«
4,626
82
4,842
407.701
19.017
480.173
68,598
5,492
881
51,738
7,041
53
7.262
204
5 4 1 ,9 6 8
7.245
53
7,482
85,175
936
93.833
26,354
22,289,285
1,460,632
207,362
203,713
3.649
62,295 12,861,490
1,256,586
5,182
227
5 ,4 9 9
27
28
29
2 11
702
370
1
5
15
7
5 1,8 8 5
9 ,9 7 7
14 Rov
69
321,408
71.079
22
178
3 77
2 ,2 52
2 ,7 1 3
16 1
96,838
27
7.419
2
52
4 18 ,13 4
5 2 ,3 5 6
44 , 9 1 2
145
5 15
10,000
7 0 9 ,7 16
9 77.3 4 0
308
25.729
1 0 ,9 5 4
19
753
3
19
220
1 ,4 3 4
1 ,6 7 3
1 0 7 ,7 1 8
2 3 1 ,0 4 6
249,941
39
52
53
54
Treasury Department, Division of Research and Statistics.
Gross income corresponds to total income, as reported on face of return, plus "Cost of goods sold.
Note: n.e.c., not elsewhere classified.
are designed to carry aircraft
ïhe approximate
total cost of the seven cutters is $16,446,000.
Fourjcutters are under construction at thè
/V
Philadelphia Navy Yard, two at thè New York Navy Yard
one at the Charleston Navy Yard.
Each cutter will
bear the- name of a former Secretary of the treasury.
in the order in which they are scheduled for
completion they are:
No. 65, George W. Campbell,
July, 1936
No. 66, Samuel D. Ingham, Sept. 1936
No. 67, William 1. Duane, Nov. 1936.
No. 68, Noger B. Taney, «Tan. 1937
No. 69, Alexander Hamilton, Jen. 1937
No. 70, John C. Spencer, Jan. 1937.
No. 71, George M. ^ibb, Jan. 1937.
/X
A
F ex ¡jttJLe. £c*tJ& / c c d A ' g y f c - f f i * * * * * * *
fG 3 A
J~AtA &"Ai A A^->A
’
^pA /t c~ fQ
ft/f B | S
(f
M~*0 . ¿3"TO* X- J
The Treasury Department announced today
¿528 -foot)
that
the
*l§ev en^craising cutters, nov; being
constructed by the Navy Department for the
United States Coast Guard, have been assigned to
stations as follows:
One each at Boston, Dew York, Puerto Rico,
San Diego, San Francisco, Cordova
and Honolulu,
The;assignment was recommended by
the permanent board headed by
Captain William H. Muntej
and was approved by Rear Admiral H. G, Hamlet,
U. S. Coast Guard Commandant, and by
Assistant
Secretary of the treasury Stephen B. Gillons.
The board also recommended, with the
approval of these
officials, that upon the stationing
of the new cutter at Boston, the permanent station of
the
240-foot cutter liojave be
transferred to Port
Everglades, Florida, and that upon the stationing of
a new cutter at New York, the
240-foot cutter Tampa
be transferred to St. Petersburg, Florida. ' Re-allocatioj
of utiier units will be given further study by the board.
The new 328-foot cruising cutters will
be both larger and faster than any vessels of similar
type now in Coast ^uard service.
Each will have
a standard displacement of 2,000 tons, a speed of 20 kno'
and will car-y a crew of 129 officers and men.
,J-he cutt
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Friday, November 15, 1 9 3 5 0
11-14-35,
Press Service
No. 6-25
The Treasury Department announced today that the seven 328-*foot
cruising cutters, now being constructed by the Navy Department for the
United States Coast Guard, have been assigned to stations as follows:
One each at Boston, New York,, Puerto Rico, San Diego, San Francis
co, Cordova and Honolulu,
The assignment was recommended by the permanent board headed by
Captain William H. Munter, cud was approved by Rear Admiral H*G-.Hamlet,
U,S, Coast Guard Commandant, and by Assistant Secretary of the Treasury
Stephen B, Gibbons,
The board also recommended, with the approval of these officials,
that upon the stationing of the new cutter at Boston, the permanent
station of the 240-foot cutter MOJAVE be transferred to Port Everglades.,
Florida , and that upon the stationing of a new cutter at New York,- the
240-foot cutter TAMP.«, be transferred to St, Petersburg, Florida,
Re
allocation of other units will be given further study by the boards
The new 328-foot cruising cutters will be both larger and faster
than any vessels of similar type now in Coast Guard service.
Each will
have a standard displacement of 2,000 tons, a speed of 20 knots, and
will carry a crew of 129 officers and men.
carry aircraft.
$16,446,000,
The cutters are designed to
The approximate total cost of the seven cutters is
-2-
Four of the cutters are under construction at the Philadelphia
Navy Yard, two at the New York Navy Yard and one at the Charleston
Navy Yard,
Each cutter will hear the name of a former Secretary
of the Treasury,
In the order in which they are scheduled for
completion they are:
No, 65, George W. Oomph e l l , duly, 1936,
No. 66, Samuel D, Ingham, September,1936.
No. 67, William J. Duane, November, 1936.
No. 68, Roger B. Taney, January, 1937,
No. 69, Alexander Hamilton, January, 1937.
No. 70, John C. Spencer, January, 1937.
No. 71, George M. Bibb, January, 1937.
ooOoo
TREASURY DEPARTMENT
Washington
December 2, 1935«
CMORANDUM FOR THE PRESS
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended November 29, 1935:
Philadelphia* ............. ..................... .
San Francisco................... ......... ..
Denver *........... ....... .
Total for week ended November 29, 1935...........
Total receipts through November 29, 1935.........
433,192*62 fine ounces
518,338.05
"
*’
5,757.12
»
"
957,287.79
»
rt
56,194,000.00
SILVER TRANSFERRED TO UNITED STATES:. .
(Under Executive Proclamation of August 9, 1934)
Week ended November 29, 1935:
Philadelphia ..................................
New York ............... ................ ......
San Francisco............... ..................
Denver ............ ..................... .....
New Or 1 eans
.......... .
S
e
a
t
t
l
e
.
................
Total for week ended November 29, 1935.......... .
Total receipts through November 29, 1935.... .....
90.00 fine ounces
555.15
»
11
303.74
169.92
170.14
1,288.95
113,028,254.37
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Secondary
$171,321.91
108,500.00
41,691.42
33,992.78
20,156.35
_____
13,511.87
Imports
Week ended November 29, 1935:
.4,968.36
Philadelphia*..
91,379,500.00
New York.......
325,132.79
San Francisco..
11,823.38
Denver•••*..*••
New Orleans....
Seattle.••»»»»»».».*»»••»*•*••••••
Total for week ended November 29^ 1 9 3 5 ..*$91,721,424.53 $388,274.33
New
Domestic
113.57
26,300.00
,103,184.29
2,:
398,271.74
127.56
_ 545,215.29
$3,073,212*45
GOLD RECEIVED BY FEDERAL RESERVE BANKS AND THE. T ^ S I g ^ !S_^TICEi
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks: Gold C o i n _
Week ended November 27.........•$
21,604.26
Received previously. ....... . ••. 30,934,573.09
Total to November 27............$30,956,177.35
Received by Treasurer’s Office:
Week ended November 27.......
Received previously. • • • t •
Total to November 27...... ..,..$
NOTE:
Gold Certificates
$
409,770.00
99,9 6 7 ,620.00
$100,377,3907.00
$
266.256.00
266.256.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
4,100.00
2-,301,000 >00.
$* 2,305,100.00
Corporation returns for 1933 by major industrial groups and subgroups and by returns with net income and no net
gross income, net income or deficit, total tax, income tax, and excess-profits tax, also number of returns income, showing number of returns,
for inactive corporations
(Continued)
(Money figures in thousands of dollars)
Serial
number *
Industrial groups
: Total
: number
: of returns
— . ■ ...
;
;
: Number
•
Returns showing net income
* Gyoss
* income 1J
]
Net
income
t Total
, tax
Returns showing no net income
] Income
tax
Excèssprofits : Number
• Gross
. income 1/
; Deficit
:■ Number of
: returns show: ing no income
• data-inactive
: corporations
;
•
; Seri al
: number
:
—
CONSTRUCTION:
55
Building and construction above ground— Installing machinery,
moving, wrecking, razing, etc.
Other construction underground and on surface--Bridge
building, waterfront construction, related industries, etc.
Shipbuilding and repairing
56
57
Total construction
TRANSPORTATION AND OTHER PUBLIC UTILITIES:
Transportation and related activities:
Steam railroads
Electric railways— Pullman cars; refrigerator, stock,
poultry and fruit cars; lessors.
Water transportation and related activities—
Ocean and fresh-water lines, canals, docking, draw
bridge operating, lighterage, salvaging, piloting,
wharfing; lessors.
Aerial transportation
Autobus lines, taxicabs, and sightseeing companies.
Cartage and storage— Food storage; packing and shipping;
local transportation and related industries, n.e.c.
58
59
60
Gl
62
63
Total transportation and related activities.
Other public utilities:
Electric light and power companies, and combined
electric light and gas companies.
Gas companies, artificial and natural
Telephone and telegraph companies
Radio broadcasting companies
Wat er compani es
All other public utilities— Terminal stations, pipe lines,
toll bridges and toll roads, irrigation systems, etc.
64
DD
67
I 68
I 69
Total other public utilities
Total transportation and other public utilities.
71
72
73
74
If
J5
176
I 77
78
79
Wholesale
^
Retail
Wholesale and retail
Commission
All other trade— Auto wreckers, film exchanges, pneumatic
tjibes, trading stamps, garages for storage, repair
gfcp^ervice, etc.
t,Total trade
SERVICE;
Domestic service— Laundries, hotels, restaurants, etc.
Amusements^:Theaters, legitimate, vaudeville, etc.
Motion-pictur# producers
Motion-picture theaters
Other amusements— Circuses, golf links, race tracks,
pleasure resorts, etc.
Total amusements
80
81
82
1,404
131,353
5,303
803
737
66
10,195
400,077
45,021
1,062
55
5,345
229
699
37
2,140
201,975
41;106
15,074
3,26l
2,159
478
2,08l
450
78
29
3,741
176
279.597
24,440
42,030
4,394
905
lb
374,434
56
57
23,638
3,440
3,268
173
14,112
704,115
1,983
9 1,445
---■ .. ------------ sifgj| -_
18,234
—
605
I5O
497,841
65,515
9,091
9,051
40
382
3 ,084,778
345.848
73
58
845
295
219,781
72,943
10,079
10,069
10
330
420,57é
58,149
220
59
1,912
671
2,496
595
36
423
186,985
4 2 ,f37
77.865
17,973
2,385
6,012
2,560
353
859
2,506
q46
837
54
7
22
1,107
487
1,872
177,539
19,369
102,203
25,979
5,614
13,571
210
148
201
60
61
62
9.474
3,023
296,580
24,003
3,413
3 ,3H
102
5,829
368,873
32,094
622
63
16,003
4.522
1,321,689
188,831
26,356
26,120
236
10,007
4,173.337
481,255
r
1,040
606
3,284
370
1,615
407
207
1,085
90
730
1 .492,908
5 2 5 ,$ 6
1,146,871
20,672
115,624
237,025
5 6,440
123,980
1,582
.12,856
33,407
8,018
17,687
221
i»797
33,387
8,017
17,685
218
1,788
19
2
o
m
1.384
388
159,379
36.557
5.096
8,299
2,907
3 .460,999
24,302
7.429
25.557
84,187
9,950
6,159
12,005
3
9
461
349
1,933
257
642
881,162
93.231
188,016
75,137
19,753
5,043
53
700
395,925
468,441
06,226
66,138
88
4,342
4 ,782,618
657,272
92,581
92,258
324
1(3,187
21,695
3,439
2,004
5,962,949
6,976,528
1.349,533
452,o|6
148,602
227,060
33.546
19,289
21,264
32,349
4,746
2,787
20,515
31,585
4,669
2,662
1,950
235,059
7,324
1,044
1,007
435.820
62,189
60,438
1,4 7 4
---~ ......
172
59
266
23
243
64
65
66
67
68
50,596
296
69
1,653,224
261,861
1,050
14,349
5,826,561
743,116
2,524
749
764
77
125
14,716
59,536
6,372
3,834
2,841,540
4,821,823
958,165
250,139
104,026
280,619
# .2 5 4
13,661
654
2,956
139
321
70
71
72
73
37
9,163
351,183
3j.625
892
74
„^222,849
47p,i84
4,962
138,735 .
30,438
24,747
10,856
6,488
TRADE:
70
«
12,660
Professional service— Curative, educational, engineering,
legal, etc.
Business service— Detective bureaus, trade shows, mimeo
graphing, publishing directories, advertising, etc.
Other services n.e.c.— Auto camps, cemeteries, board of
trade, newspaper syndicates, photographers; concessionaires
of amusements, cloakrooms, etc.
Total service
137,858
39,275
1 4 .9 7 6 ,0^
— L22—
1
19,489
2,193
287,45'3
14,825
2,078
2,038
4O
16,489
1,072,344
210,474
807
75
536
256
2,952
87
42
773
5.577
27,176
159,032
499
3,198
10,726
73
477
1,549
68
455
1,524
5
22
24
308
158
2,076
16,392
135,231
284,804
7,153
40,354
44,927
141
56
103
77
78
5,278
9,022
541
2l,5Qi
2,140
316
294
21
3.845
88,217
19,863
892
79
1,443
213,285
16,564
2,414
2,342
72
6,387
524,723
112,297
1,192
7,,486
1.264
60,741
6,142
875
838
38
5,008
99.940
23,562
1,214
80
6,370
1,429
236,563
18,533
2,657
2,591
65
4,184
182,533
16,760
757
81
5,476
1,237
70,938
4,919
693
669
24
3,351
72,689
14,930
888
82
45,843
7,566
868,98p
60,982
8.717
8,478
239
35,419
1,952,228
378,023
4,858
6,619
618
47,777
9,209
1,252
1,249
3
4,932
581,496
244,520
1,069
83
14,817
34
1,607
91,247
8,976
-—
1,219
1,213
-----
6
-
10,255
31
731,288
2,849
326,519
15,442
2,955
3
84
85
3.990
1,023
703,485
24,302
3,479
3,334
145
2,761
636,866
252,145
206
86
85,229
11,243
268,652
5 4 ,6 ii
7,566
7 ,460
106
6l,8 l4
857,450
491,828
12,172
87
110,689
14,491
1,111,161
97,098
13,517
13.256
260
79,793
2 ,809,950
1 ,330,455
16,405
626
172
360,182
17,841
2,451
2,451
42O
469,193
48,697
34
88
1,437
465
794,727
48,530
6,737
6,732
5
856
698,835
199,132
116
89
2,063
637
1 ,154,910
66,370
9,188
9,183
5
1,276
1,168,028
247,829
150
30,190
7,241
459.195
9 7 ,1 0 0
13.647
13,409
238
18,245
717,504
695,522
4,704
142,942
22,369
2,725,266
260,569
36,352
35,848
504
99,314
4 ,695,482
2,273,806
21,259
11,432
228
1,899
479
69
67
2
1,262
7,643
5,838
9 ,9 4 2
504,080
109,786
2,985,972
423,068
416,093
6,976
337,056
3 6 ,890,055
5 ,533,339
57,238
FINANCE:
§3
84
85
86
Banking and related industries:
National banks
State and private banks, savings banks, loan and trust
companies.
Joint-stock land banks
Stock and bond brokers, investment brokers, investment
bankers, and investment trusts.
Real estate and realty holding companies— Realty development, holding, or leasing; realty trust, etc.
Total banking and related industries
88
89
Insurance companies:
Life insurance— Mutual or stock companies
Other insurance— Accident, casualty, fire, marine,
title, etc.
Total insurance companies
90
Other finance:
Loan companies-— Building and loan associations;
mortgage, note, or pawn brokers; insurance agents,
promoters, stock syndicates, foreign exchange, and
finance, n.e.c.
Total finance
91
NATURE OF BUSINESS NOT GIVEN *
Grand Total
1/
—
—
46,752,366;
Gross income corresponds to total income, as reported on face of return, plus ’’Cost of goods sold."
Note: n.e.c., not elsewhere classified.
—
—
90
91
Treasury Department, Division of Research ani Statistics .
.
Continuing the table issued fo r release on Friday, November 15 ,
the Treasury today made public further data from corporation income
tax returns for the calendar year 1933 * These data w ill he published
in S ta tistics of Income for 1933*
The following table gives corporation returns for
1933 for
con
struction, transportation.« and other public u t ilit ie s , trade, service,
and finance, by sub-groups and by returns with net income and no net
income.
It shows number of returns, gross income, net income or defi
c it , total tax, income tax and excess-profits tax, and also number of
returns for inactive corporations.
TREASURY DEPARTMENT
Washington
ECR RELEASE, MORNING- NEWSPAPERS,
Monday, November 18» 1935»
11-15-35.
press Service
6-26
Continuing tnc tahle issued for release on Enday, November 15, the Treasury
today made public further data from corporation income tax returns for the
calendar year 1933.
These data will be published in Statistics of Income for 1933
The following table gives corporation returns for 1933 for construction,
transportation and other public utilities, trade, service and finance, by sub
groups and by returns with net income and no net income.
It shows number of
returns, gross income, net income or deficit, total tax, income tax and excessprofits tax, and also number of returns for inactive corporations.
Corporation returns for 1933 ^7 major industrial groups and' subgroups and by returns with net income and no net income, showing number of returns
gross income, net income or deficit, total tax, income tax, and excess-profits tax, also number of returns for inactive corporations
(Continued)
(Money figures in thousands of dollars)
Serial
number
Industrial groups
Total
number
of returns
Returns showing ne t income
Numb«
Gross
income
ÿ
■Net
income
Total
tax
Returns showing no net incorni
Income
tax
.Excessprofits
tax
Number
uross
income i f
Deficit
Number of
returns show
ing no income
data-inactive
corporations
Seri al
number
CONSTRUCTION:
Building and construction above ground--Instailing machinery,
moving, wrecking, racing, etc,.
Other construction underground and on surface--Bridge
building, waterfront construction, related industries, etc.
Shipbuilding and repairing
Total construction
6o
12,660
1,404
131,353
5,303
803
737
66
10,195
400,077
45,021
1,062
55
201,975
41,106
15,074
3,26l
2,159
478
2,081
450
78
29
3,741
176
279,597
24,440
42,030
4,394
905
16
18,234
699
37
2,140
56
57
374,434
23.638
3,440
3,268
173
14,112
704,115
91,445
1,983
605
150
497,841
65,515
9,091
9,051
40
382
3 ,084,778
345,848
73
58
845
295
219,781
72,943
10,079
10,069
10
33O
420,576
58,149
220
59
186,985
42,637
77.865 !
17,973
2,385
6,012
2,560
353
859
2,506
946
837
54
7
22
1,107
487
1,872
177,539
19.369
102,203
25,979
5,614
13.571
210
148
201
60
61
62
63
5,345
229
TRANSPORTATION AND OTHER PUBLIC UTILITIES:
Transportation and related activities:
Steam railroads
Electric railways— Pullman cars; refrigerator, stock,
poultry and fruit cars; lessors.
Water transportation and related activities—
Ocean and fresh-water lines, canals, docking, draw
bridge operating, lighterage, salvaging, piloting,
wharfing; lessors.
Aerial transportation
Autobus lines, taxicabs, and sightseeing companies.
Cartage and storage— Food storage; packing and shipping;
local transportation and related industries, n.e.c.
1,912
671
2,496
595
38
423
9 ,4 7 4
3,023
296,580
24,003
3,413
3.311
102
5,829
368,873
32,094
622
Total transportation and related activities.
16,003
4 ,522
1 ,321,689
188,831
26,356
26,120
236
10,007
4,173,337
481,255
1.474
1,040
606
3,284
370
1,615
407
207
1,085
90
730
1,492,998
525,456 i
1,146,871
20,672
115,624
237,025
56,440
123,980
1,582
12,856
33,407
8,018
17.687
221
1.797
33.387
8,017
17,685
218
1,788
19
2
2
3
9
461
349
1,933
257
642
88l,l62
93,231
188,OI6
75,137
19.753
138,735
30,438
24,747
10,856
6,488
172
50
266
23
243
64
65
66
67
68
1,384
388
159.379
36,557
5,096
5,043
53
700
395,925
50,596
296
69
8,299
2,907
3,460,999
468,441
66,226
66,138
88
4,342
1 ,653,224
261,861
1,050
24,302
7,429
4,782,688
657,272
92,581
92,258
324
14,349
5,826,561
743,116
2,524
25,557
84,107
9,950
6,159
10,187
21,695
3,439
2,004
5 ,962,949
6 ,978,528
1 .349.533
452,026
148,602
227,060
33.546
19,289
21,264
32,349
4,746
2,787
20,515
31.585
4.669
2,602
749
764
77
125
14,716
59,536
6,372
3,834
2 ,841,540
4,821,823
958,165
250,139
104,026
280,619
44,254
13,661
654
,2,956
139
321
70
71
72
73
12,005
1,950
235,059
7,324
1,044
1,007
37
9,163
351,183
33.625
; 892
74
137,858
39,275
14,976,095
■ 435.820
62,189
60,438
1,751
93,621
9,222,849
476,184
4,962
19,489
2,193
287,453
14.825
2,078
2,038
40
16,489
1,072,344
210,474
807
75
536
256
2,952
87
42
773
5.577
27,176
159,032
499
3,198
10,726
73
477
1,549
68
455
1,524
5
22
24
308
158
2,076
16,392
äflBi
284,884
7,153
40,354
44,927
141
56
103
76
77
78
5,278
541
21,501
2,140
316
294
21
3.845
88,217
19.863
; 892
79
9,022
1,443
213,285
16,564
2 ,4 1 4
2,342
72
6,387
524,723
112,297
1,192
7 ,,486
1.264
60,741
6,142
875
838
38
5,008
99,940
23,562
1,214
80
6,370
1,429
236,563
18,533
2,657
2,591
65
4,184
182,533
16,760
{757
81
5,476
1,237
70,338
4 ,919
693
669
24
3,351
72,689
14,930
888
82
47.843
7,566
868,980
60,982
8.717
8,478
239
35-419
1,952,228
378.023
4,858
6,619
618
47,777
9,209
1,252
1,249
3
4,932
581,496
244,520
1.069
83
14,817
34
1,607
91,247
8,976
1,219
1,213
—
—
6
-
10,255
31
731,288
2,849
326,519
15,442
2,955
3
84
85
3 ,9 9 0
1,023
703,485
24,302
3,479
3,334
145
2,761
636,866
252,145
206
86
85,229
11,243
268,652
54,611
7,566
7 ,460
106
61,814
857,450
491,828
12,172
87
110,689
14,491
l,lll,l6l
97,098
13,517
13.256
260
79.793
2,809,950
1,330,455
16,405
626
172
360,l82
17,841
2,451
2,451
420
469,193
48,697
34
88
1,437
465
794,727
48,530
6,737
6,732
5
856
698,835
199.132
116
89
2,063
637
1 ,154,910
66,370
9,188
9,183
5
1,276
1,168,028
247,829
150
30,190
7,241
459,195
97,ioo
13.647
13,409
238
18,245
717,504
695,522
4,704
142,942
22,369
2 ,725,266
260,569
36,352
35,848
504
99,314
4,695,482
2,273,806
21,259
11,432
228
1,899
479
69
67
2
1,262
7,643
5,838
9,942
504,080
109,786
46,752,366
2,985,972
423,068
416,093
6,976
337,056
36,890,055
5.533,339
57,238
Other public utilities:
Electric light and power companies, and combined
electric light and gas companies.
Gas companies, artificial and natural
Telephone and telegraph companies
Radio broadcasting companies
Water companies
All other public utilities— Terminal stations, pipe lines,
toll bridges and toll roads, irrigation systems, etc.
64
Total other public utilities
Total transportation and other public utilities.
TRADE:
Wholesale
Retail
Wholesale and retail
^Commission
All other trade--Auto wreckers, film exchanges, pneumatic
tubes, trading stamps, garages for storage, repair
service, etc.
Total trade
m
SERVICE:
Domestic service— Laundries, hotels, restaurants, etc.
Amusements:
m
Theaters, legitimate, vaudeville, etc.
Motion-picture producers
Motion-picture theaters
Other amusements— Circuses, golf links, race tracks,
pleasure resorts, etc.
Total amusements
Professional service— Curative, educational, engineering,
legal, etc.
Business service.— Detective bureaus, trade shows, mimeo
graphing, publishing directories, advertising, etc.
Other services n.e.c.--Auto camps, cemeteries, board of
trade, newspaper syndicates, photographers; concessionaires
of amusements, cloakrooms, etc.
Total service
87
FINANCE:
Banking and related industries:
National banks
State and private banks, savings banks, loan and trust
companies.
Joint-stock land banks
Stock and bond brokers, investment brokers, investment
bankers, and investment trusts.
Real estate and realty holding companies— Realty develop
ment, holding, or leasing; realty trust, etc.
Total banking and related industries
Insurance companies:
Life insurance--Mutual or stock companies
Other insurance— Accident, casualty, fire, marine,
title, etc.
Total insurance companies
Other finance:
Loan companies— Building and loan associations;
mortgage, note, or pawn brokers; insurance agents,
promoters, stock syndicates, foreign exchange, and
finance, n.e.c.
90
Total finance
91
NATURE OF BUSINESS NOT GIVEN
Grand Total
—
—
3urn, plus 1"Cost of goods sold."
Note:
n.e.'
not elsewhere classified.
—
—
90
91
Treasury Department, Division of Research ani Statistics .
TREASURY DEPARTMENT
Washington
November 18, 1935«
MEMORANDUM BOR THE PRESS
op S ilv e r b y -t h e m i n t s a n d a s s a y o f f i c e s :
(Under Executive Proclamation Of December 21, 1933) as amended
receipts
Week ended November 16j 19351
Philadelphia«
.... .
San Francisco*.... ....................
Denver*........... ................ . .
Total for week ended November 16, 1935...
Total receipts through November 16, 1935,
.
.
,
.
.
651,607*29 fine ounces
It
772,126*08 It
I
I
I
I
7*152*18
I
I
I
I
1,430,885*55
I
I
53,997,000*00 It
Week ended November 16, 1935:
Philadelphia*.................... .
New York*......... .............................*.
San F
r
a
n
c
i
s
c
o
*
....... .
Denver*
..........................*•
New Orleans*.*. *..... ................... ..... .. •
Seattle*........ ......................... .......
Total for week ended November 16, 1935.....*.......*
Total receipts through November 16, 1935*...... ...»
376.00 fine ounces
it
745.53 it
M
388.00 ti
h
281.54 h
342,23
. 361*42
2,494*72
113,018,165*48
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation £ August 9, 1934)
RECEIPTS OF G-OLD BY THE MINTS AND ASSAY OFFICES:
Week ended November 16, 1935:
Imports
Philadelphia................... $
15,536*85
38,443,200.00
New York...........
San Francisco........ .........
528,141*95
Denver*
43,744*00
N evi O r l e a n s . ......
1,048*48
Seattle.
~
~
Total for Week ended November 16*.*$30,031.,671*28*
New
Domestic
Secondary
l,560o82
$160,058,11 $
260,300*00
58,200,00
ly180,404*24
43,745*62
627,483*47
24,195,61
123*18
40,183.85
418*763*17
14*459*75
$542,942*94 $2,286,534*88
COLD RECEIVED BY THE FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin
Week ended November 13*....... * $
15,266*68
Received previously.•...,••.•••• 30^901^190*85
Total to November 13..... ......$30,915,457«53
Received by Treasurer's Office:
Week ended November 13*.......«• $ - .........
Received previously#..... .... *
266*256*00
$
266,256.00
Total to November 1 3 * •
NOTE:
Gold Certificates
$
189,490*00
99*567*720*00
$99,757,210*00
8 ,000*00
2*286,600*00
$ 2,294,600.00
$
Gold bars deposited with the New York Assay Office
in the amount of $200,572*69 previously reported*
T R EA SU R Y DEPARTM ENT
O F F IC E
OF
TH E
SEC R ETA R Y
WASHINGTON
C O M M ISSIO N E R O F
A C C O U N TS AND D E P O S IT S
November 1 6 , 1935*
TO MEL GASTON;
During th e month of O ctober the fo llo w in g m arket
t r a n s a c t io n s took p la c e in Government s e c u r i t i e s f o r in vestm en t
a c c o u n ts !
T o ta l p u rch ases • • • » » • • • »
T o ta l s a l e s
• « » • « » ( » • s
N et p u rc h a s e s :
# 3 9 ,2 8 5 ,9 0 0
2 2 ,0 0 0 ,0 0 0
# 1 7 ,3 8 5 ,0 0 0
TREASURY DEPARTMENT
Washington
Pres
POR IMEDIATE RELEASE,
Monday, October 14, 1935«
Service
No.
Net market purchases of Government securities for Treasury investment
accounts for the calendar month of
1935, amounted to
Astijig Secretary ©tro^tdge announced today*.
ooOoo
TREASURY DEPARTMENT
Washington
Press Service
No. 6~27
EOR IMMEDIATE RELEASE**
Monday, November 18, 1,935®
Net market purchases of Government securities for Treasury investment
accounts for the calendar month of October, 1935, amounted to $17,385,000,
Secretary Morgenthau. announced today.
0 0 O00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday» November 19» 1935«
W
IiT iiT r o -----------
?
S e c r e ta r y o f th e T reasu ry ISorgenthau announced l a s t evening t h a t th e ten d ers
V
-±]
'
f a r two s e r i e s o f T reasu ry b i l l s , t o be d ated November 8 0 , 1E 35, which were o ffe r«
an November I B , were opened a t th e f e d e r a l R eserve banks on November I B , 198B ,
Tenders were in v ite d f o r th e two s e r i e s to th e a g g re g a te amount o f #100,000,01
f
o r th e re a b o u ts , and $ 8 7 8 ,5 1 0 ,0 0 0 was a p p lied f o r , o f which flOO.OJB.OOO was accepts
0
The d e t a i l s o f th e two s e r i e s a r e a s fo llo w s :
ap p lied f o r was $ 1 1 2 ,3 9 2 ,0 0 0 , o f which $ 9 0 ,0 1 5 ,0 0 0 was a c c e p te d .
The accep ted
h id e ranged in p r ic e from 9 9 .9 8 0 , eq u iv alen t to a r a t e o f about 0 .0 6 8 p e rc e n t per
annum, to 9 9 .9 7 8 , e q u iv a le n t t o a r a t e o f about 0 .0 7 7 p e rce n t per annum, on a bank
d isco u n t b a s i s .
Only p a r t o f th e amount h id far at th e l a t t e r p r i c e was accepted.
The averag e p r ic e o f T reasu ry b i l l s o f t h i s s e r i e s t o be iss u e d is 9 9 .9 7 7 and the
av erag e r a t e i s abou t 0 .0 7 1 p e rce n t p ar annua on a bank d isco u n t b a s i s .
aes-TUY TREASURY BILLS. MATURING AUGUST 1 9 , 1936
f a r t h i s s e r i e s , which was f o r $ 5 0 ,0 0 0 ,0 0 0 , o r th e re a b o u ts , th e t o t a l amount
a p p lied f o r was $ 1 6 0 ,9 1 8 ,0 0 0 , o f which $ 5 0 ,0 0 3 ,0 0 0 was a c c e p te d .
The accepted bill
ranged in p r i c e from 9 9 .9 0 0 . e q u iv a le n t to a r a t e o f about 0 .1 3 2 p e rce n t p e r annus,
t o 9 9 .8 9 0 , e q u iv a le n t to a r a t e o f abou t 0 . U 6 p e rc e n t p e r annum, on a bank disco»
b a ik it
iW-y p a r t o f th e amount h id f o r a t th e l a t t e r p r i c e was a c c e p te d .
av erag e p r i c e o f T reasu ry
average
A
The
b i l l s o f t h i s s e r i e s t o be issu ed i s 9 9 * 8 9 3 and the
r a t e is about 0 .1 4 2 percent p e r annum on a bank d isco u n t b a s i s
*■\
irs
FOB RELEASE, MORNING- NEWSPAPERS,
Tuesday, November 19, 1935.______
11/18/35
Press Service
No, 6 - 28
ferei
Secretary of the Treasury Morgenthau announced last evening that the tenders
00,oc
eepte
for two series of Treasury hills, to he dated November 20, 1935, which were offered
on November 15, were opened at the Federal Reserve hanks on November 18, 1935,
Tenders were invited for the two series to the .aggregate amount of
$100,000,000, or thereabouts, and $273,310,000 was applied for, of which
unt
$100,018,000.was accepted.
The details of the two series are as follows:
117-PAY TREASURY BILLS, MATURING MARCH 16, 1936
per
bank
»ted,
the
For this series, which wan for $50,000,000, or tnereabouts, the total amount
applied for was $112,392,000, of which $50,015,000 was accepted. .The accepted
bids ranged in price from 99,980, equivalent to a rate of a,bout 0.062 percent per
annum, to 99;975, equivalent to a rate of about 0.077 percent per annum, on a bank
discount basis.' Only part of the amount bid for at the latter price was accepted.
The average price of Treasury bills of this series to be issued is 99.977 and the
average rate is about 0.071 percent per annum on a. bank discount basis.
273-DAY TREASURY BILLS, MATURING AUGUST 19, 1936
I bid!
mnuBi
For this series, which was for $50,000,000, or thereabouts, txie total amount
1seoui
applied for was $160,918,000, of which $50,003,000 wan accepted..
The accepted bids
»
ranged in price from 99,900, equivalent to a re„te of about 0,132 percent per annum,
to 99.890, equivalent to a rate of about 0.145 percent per annum, on a bank dis
count basis.
Only part of the amount bid for at the latter price was.accepted.
The average price of Treasury bills of this series to be issued is 99.893 and the
average rate is about' 0.142 percent per annum on a bank discount basis.
s
Returns of corporations submitting balance sheets for 1933 °y ®&jor industrial groups, showing number of returns and assets
and liabilities as of December 31* 1933» or at close of fiscal year nearest that date
(Money figures in thousands of dollars)
I N D U S T R I A L
GROUPS
Manufacturing
Agriculture and
related industries
Mining and quarrying
No net
income
Number of returns with balance sheets 1J
1
Food and kindred
products
Total manufacturing
No net
income
Net income
No net
income
Net income
Liquors and beverages
(alcoholic and non-alcoholic)
No net
income
Net income
No net
income
Net income
6,096
2,571
7.379
25,580
57.256
-052
7.059
870
1,448
40.772
20,024
110,692
111,107
13.614
143.019
94.212
134.957
63.371
59,438
186,743
161,087
369.170
347,378
82,757
883,733
1,922,414
3.964.341
4.449.483
1.341.253
5.755.263
1.162,035
2,800,429
3.634.773
641.707
3.743.271
321,390
499,050
741.746
130,300
614,242
72.637
243.333
205.409
12,588
279.107
28,089
65.447
89,969
27.835
56,047
8,129
17,633
21,167
6,217
20,651
68,781,818
9.778,841
307.345
25,828
909,211
111.545
1,016,503
75.645
5.036,824
494,872
9.961,343
1.921,755
14,422,956
2,031,598
1,724.560
321,480
916.303
168,240
244.739
53.854
126,099
33-357
90,127,680
178,078,777
493.860
1,419,211
1,630,870
7,375,820
29,315,851
28,436,769
4,352,768
1,897,618
565.981
233,253
6,845 »663
12,130,748
1 7 ,056,172
7.382,817
2 9 ,356,128
18,046,351
690,200
1 2 ,515,855
33,751.778
58,328,228
11,011,024
+4.731.732
26,745.852
9,005,693
41.273
3Ö ,460
68,120
7,458
241,595
109.751
12,803
269,752
96,557
633 ,1^2
192,993
124,836
278,449
216,142
154,575
57,272
802,519
512,454
117,342
802,854
688,680
441,042
3 .744.959
1,804,067
738,929
2,913.605
1 ,737,652
1 ,598,299
3,050,284
12,074,978
8,149.616
208,584
2,808,509
3,283,847
2,069,672
3,640,503
11,632,558
7,183,476
2 ,181,797
409,923
387.873
250,320
571.779
1,682,133
1,080,057
29,317
322,588
295.963
119.372
335.929
698,368
298,193
172.796
89,980
24,l60
38,978
29,378
202,219
189,923
0,65b
40,874
25,342
13,539
15,802
106,783
55.985
25,073
90,127,680
178,078,777
493,860
1,419,211
1,630,870
7 ,375.820
29,315.851
28,436,769
4 ,352,768
1,897,618
565,981
233.253
100,941
287,623
4 ,647.302
10,588,787
25,672,494
6,349,670
9,838,300
37,644
4 7 ,088,867
36,176,535
4.755.841
Assets:
Cash 2/
Notes and accounts receivable
Inventories
Inve stment s, tax-exempt
Investments other than tax-exempt
Capital assets— lands, buildings,
equipment (less depreciation)
Miscellaneous assets
i
4
Total assets
10,162,903
7.247.659
3.732.452
23.404.983
3 3 .1 4 6
35.466
1 3 .6 5 9
Liabilities:
10
11
12
13
14
15
16
Notes and accounts payable
Bonded debt and mortgages
Miscellaneous liabilities
Capital stock-preferred
Capital stock— common
Surplus and undivided profits
Less deficit
96,426
83,035
714,697
«
Total liabilities
17
is
Returns of corporations submitting balance sheets for 1933 ^y me^jor industrial groups, showing number of returns and assets
and liabilities as of December 31, 1933, or at dose of fiscal year nearest that date
(Continued)
(Money figures in thousands of dollars)
I N D U S T R I A L
GROUPS
(continued)
....
Manufactur ins: (continued)
Textiles and their
products
Tobacco products
„ , i.
Net income
% Number of returns with balance sheets 1/
!
■
No net
income
„
.
Net. income
|
No
. net
income
Leather and its
manufactures
-, , .
Net income
'
No net
• „__
income
. .....................— ---------- ---------
1
Rubber products
Net income
•
•
;
Ne net
¿°come
!
_
,
, ,
Forest products
, .
Net income
.
;
No net
income
Paper, pulp, and
products
< xr . •
• Net income
i
No net
income
US
233
8,581
963
1,266
213
315
1.584
4 ,577
977
1.065
5.585
87,437
120,583
287*011
106,768
iio,754
17*082
14.507
60,097
12,869
5.361
190,803
407.595
763,092
175,762
170,320
70,402
187,864
322,959
24,681
140,136
4 7,934
109,708
186,448
18,113
45,603
12,529
35,452
68,058
3,716
22,187
33.316
57.429
81,042
10,869
64,009
25,051
155,216
79.487
30,713
154, H 3
28,412
90,055
112*915
15.159
60,748
40,411
207,451
243*098
22,900
230,843
52,286
96,772
121,262
22,395
102,856
32,745
99,741
104,200
22.534
385.585
71,906
112,822
17,878
8,648
1,180,805
126,082
731,309
105.409
135.940
28,573
64,052
29,814
163,150
73.023
232,065
23.434
254.144
29.130
1,085,618
127,249
461,692
41.121
672,801
79.150
897,281
136.443
3.015.459
1,582,558
572,319
236,409
482,839
700,079
590,562
1,958.170
898,384
1.396.755
20,041
47,846
40*227
112,955
390*283
285,999
68
7.109
17.270
3.326
29,924
48.709
35.755
5,651
358.519
65,421
174.354
389.339
1.175.435
907,121
54.728
262,180
133,126
125,614
252,549
736,495
334,387
261,793
63,918
12,744
37,267
86,965
215,822
167,357
11,754
46,081
9.347
13.249
50.710
114.443
47,204
f
44 ,626
21,299
61,183
15.567
104,136
182,460
102,857
4,664
122,479
142,183
73.708
121,242
235.721
85.710
80,966
67,875
3 0,924
36.145
31.452
242.999
192,748
11,581
282,777
68,005
200,383
9 3 .5 OI
132,445
33.100
147,734
104*250
238,058
9 2 ,9 1 4
916,226
526,838
244,940
331.726
897,281
136,443
3.015.459
1.582.558
572.319
236,409
482.839
700,079
590,562
1 ,958,170
898,384
Assets
2
3
4
5
6
7
8
9
Cash 2/
Notes and accounts receivable
Inventories
Investments, tax-exempt 3/
Investments other than tax-exempt
Capital assets— lands»buildings,
equipment (less depreciation)
Miscellaneous assets
Total assets
Liabilities
10
11
12
13
H
15
16
17
Notes and accounts payable
Bonded debt and mortgages
Miscellaneous liabilities
Capital stocks-preferred
Capital stock— common
Surplus and undivided profits
Less deficit
Total liabilities
144,440
215.691
485*641
294.195
33.995
1 .396*755
i
Returns of corporations submitting balance sheets for 1933/ by major industrial groups, showing number of returns and assets
and liabilities as of December 3 1 , 1933 io r *t close of fiscal year nearest that date
(Cohtinued)
(Money figures in thousands of dollars)
S
I I I [U S T R I A L
Ï
iv-anufacturing
Printing, publishing, and |
allied industries
!
Net income :
:
1
Number of returns with balance sheets 1J
No net
income
Chemicals and allied
products
t Net income :
:
s
No net
income
GROUP S
--------—
(continued)
Stone, clay, and
glass products
:^ líot income 1
:
(continued)
No net
income
Metal and its
products
Net income 5
Manufacturing not
elsewhere classified
No net
income
Not income :
:
Construction
No net
income
Net income
J
No net
income
2,567
7,984
2.356
4,202
626
2,969
4 ,2 1 4
13,125
1,455
4,432
1,980
12,418
76,934
379,308
68,138
75.544
455.996
35,848
149,988
76,725
15,379
148,856
396,657
1,092,000
819,120
269,928
2,851,619
215,851
351,834
532*442
26,832
496,243
49,314
71,520
95.537
36,381
99,897
32,105
84,969
119,497
25,08l
70,830
550,039
858,999
936,934
428,531
1,037,010
562,898
1 ,125,065
1 ,645,746
402,407
1 ,607,754
59,802
115,873
146,269
22,669
86,162
36,347
127,577
154,690
35.789
181,604
32,851
100,701
29,428
38,292
34,011
67,323
289,176
95.144
72,935
333,797
456,640
349.336
335.917
224,834
2,771,982
363.567
2,753,978
253,495
368,280
35,604
704,745
72,125
1,909,448
327,b96
6,445,422
719,772
218,057
59,466
336,769
186,072
96,023
44,189
458,675
139,981
1,861,896
987,547
8,564,873
4 ,630»674
756,532
1 ,109*353
—*
---
6,048,657
12,509,063
708,297
1 ,058,848
375,495
1,457,032
344,727
15°,23°
85,180
135,646
552,133
610,861
16,881
183,124
1.37,378
88;128
107,383
378,255
213,992
120,712
954,676
405.567
331,122
482,588
4 *195,969
2 *220,694
25,743
430,765
614 *658
463,212
316,974
1.979,514
1,161,535
335.983
321186
19,550
48,489
70,231
343,427
246,390
1
1
3,741
97,831
147,068
68,364
184,816
514,918
202,551
106,196
432,921
4I3.492
4 4 4 ,b33
810,734
2 ,323,673
1,648,819
25,614
773.389
1,200,206
741.302
1,739,954
4,891.742
3.748,445
585.975
49,537
25,161
62,917
77,347
236,700
263,817
7 ,i8 i
I35.O62
122,866
134,498
125,088
525,741
178,686
163,092
66,144
26,143
49,640
14,431
117,769
107,129
5,761
309,771
209,204
*74*715
98,627
503,406
1,861,896
987.547
8,564,873
4.630,674
756.532
1 ,109,353
6,048,657
12,509,063
708,299
1,058,848
375.495
1,457,032
Assets:
Cash 2J
Notes and accounts receivable
Inventories
Investments, tax-exempt
Investments other than tax-exempt
Capital assets— lands, buildings,
equipment (less depreciation)
Miscellaneous assets
Total assets
Liabilities :
10
11
12
13
14
15
16
Notes and accounts payable
Bonded debt and mortgages
Miscellaneous liabilities
Capital stock— preferred
Capital stock— common
Surplus and undivided profits
Less deficit
17
Total liabilities
156,842
'■mi
Returns of corporations submitting balance sheets for 19331 by major industrial groups, showing number of returns and assets
and liabilities as of December 31» 1933 J°r
close of fiscal year nearest that date
(Continued)
(Money figures in thousands of dollars)
I N D U S T R I A L
Transportation and other
public utilities
Net income :
:
1
Number of returns with balance sheets 1j
No net
income
Total assets
No net
income
Net income :
:
No net
income
Finance— banking,
insurance, real estate, *
stock and bond
brokers, etc.
Net income :
:
No net
income
:
Nature of business
not given
Net income
No net
income
11,361
37,460
82,604
6,351
28,195
19,330
81,659
125
655
534,122
1 ,055*770
346,595
102*116
3,942,192
755,529
1,154,410
394,397
83,462
7 ,195,536
i. ' 648,918
1 099,310
4 .254.779
214,740
j 735.431
341,317
1 ,844,924
1 ,554,192
112,985
969,125
84,008
130,853
49,066
28,461
119,377
120,078
494,191
90,316
22,834
573.437
1 ,292,430
2 ,641,717
19,289
1,934,201
12,584,175
7 ,959.316
10,592,922
121,447
8 ,797,020
33,203,011
704
2,114
I81
292
7,018
1 »5?8
16,581
■
10*986
23,939
20,111,639
1 ,127,598
30,029,334
2,216,396
i 735.128
1429,089
2 ,074,470
640,086
680,533
123,461
4,389,281
522,678
2,266,634
1,007,036
11,445,531
3,610,078
1,388
1,240
15,537
11,605
27,220,033
41,829,065
8/h 7,395
7,537,100
1 ,215,758
6,212,814
21,745.481
83.729.826
12,936
8l,141
880,890
8,602,405
1 ,384,875
2,928,956
9 *714.464
3 .771,585
63,241
1 ,916,701
18,356,566
3 .715,942
2 ,930,763
10,6l7,l80
5 ,450,330
1 ,158,417
ifci6,068
*280,699
« 41,474
«50,999
2*81,685
i«fc *236
■ 6 ,7 6 7
1,708,473
845,746
575,853
862,147
3,236,945
1,354,595
1,046,459
112,346
240,791
91,707
101,305
424,180
274,'*44
28,815
841,947
2,483,077
718,716
479.623
1,755.705
648,672
714,926
817,700
1 ,078,919
13,267,030
571 *497
*,987,030
3,155,665
132,959
4,007,150
7 ,573.202
50,283,484
2,462,731
12,460,489
9,689,284
2,746,513
1,080
836
453
615
11,309
2,573
3,928
20,409
4,291
4 ,9 3 4
12,552
65,793
18,829
45,666
27,220,033
41,829,065
8*17,395
7.537,100
1,215,758
6,212,814
21,745,481
83,729,826
12,936
81,141
6,345
Assets:
Cash _g/
Notes and accounts receivable
Inventories
Investments, tax-exempt j|/
Investments other than tax-exempt
Capital assets— lands, buildings,
equipment (less depreciation)
Miscellaneous assets
(continued)
Service— professional,
amusements, hotels, etc.
Trade
Net income 5
GROUPS
Liabilities:
10
11
12
13
14
15
lb
l7
Notes and accounts payable
Bonded debt and mortgages
Miscellaneous liabilities
Capital stock— preferred
Capital stock— common
Surplus and undivided profits
Less deficit
Total liabilities
Treasury Department, Division o f R esearch and Statistics.
1/ Excludes returns for inactive corporations and returns with fragmentary balance sheet data.
2/ Includes cash in till and deposits in bank.
3/ Includes obligations of States and territories or minor political subdivisions, securities issued under tl
Federal Farm Loan Act, and obligations of the United States or its possessions.
n
K r.
.]A-^-tA.^<Ln/ÎD'hAM^fÎJd
s s ii
W|
>/W'. 4 jI../A j
_
1^/1
V
U
Tt-t) ■ ^
//# //3
The Treasury today made public an analysis of the assets and
liabilities of corporations submitting balance sheets in 1933, in
connection with their income tax returns.
Investments were 31.3 percent of total assets in 1933, exactly
the same proportion as in 1932. But tax-exempt investments consti
tuted 16.1 percent of total investments in 1933, compared with
13,6 percent in 1932. Cash in relation to tota^assets,
like in
___ —
i
vestments showed no change over the 1932 figure,*#! 5#7 percent.
Balance sheets, as of December 31, 1933, or at the close of
the fiscal year nearest that date, were submitted by 388,564 cor
porations. Total assets of these corporations amounted to
$268,206,000,000. The number of corporations showing net income
was 100,941. Their total assets amounted to $90,128,000,000. In
1932, balance sheets were submitted by 392,021 corporations with
total assets of $280,083,000,000. Of these corporations, 73,291,
with total assets of $84,073,000,000, showed net income.
fc
TREASURY DEPARTMENT
Washington
Pres£ Service;
No* 6-*29
FOR RELEASE, MORNING- NEWSPAPERS,
Monday., November 25« 1935»
11—21—35»
The Treasury today made public an analysis of the assets and liabilities
of corporations submitting balance sheets in 1933$ in connection with their
income tax returns»
Investments were 31»3 percent of total assets in 1933, exactly the same
proportion as in 1932#
But tax-exempt investments constituted 16»1 percent
of total investments in 1933, compared with 13»6 percent in 1932#
Cash in
relation to total assets, like investments, showed no phange over the 1932
figure, remaining at 5#7 percent»
Balance sheets, as of December 31, 1933, or at the close of the fiscal
year nearest that date, were submitted by 388,564 corporations#
assets of these corporations amounted to $268,206,000,000#
of corporations showing net income was 100,941#
to $90,128,000,000.
Total
The number
Their total assets amounted
In 1932, balance sheets were submitted by 392,021
corporations with total assets of $280,083,000,000.
Of these corporations,
73,291, with total assets of $84,073,000,000, showed net income.
«
Returns of corporations submitting balance sheets for 1933 '°Y hajor industrial groups, showing number of returns and assets
and liabilities as of December 3 1 . 1933» br* at close of fiscal year nearest that date
(Money figures in thousands of dollars)
I N D U S T R I A L
GROUPS
Manufacturing
Aggregate
Net income
1 Number of returns with balance sheets l/
:
;
No net
income
Agriculture and
related industries
■ Net income
No net
income
;
Mining and quarrying
Netj, income '
No net
income
Total manufacturing
Net income
;
Food and kindred
products
No net
i n c o m e . : Net income ;
1,199
6,096
4.571
7.379
25,580
57,256
4,052
37,644
3 3 ,14b
35,466
13,659
40,772
20,024
110,692
111,107
13,614
143,019
94.212
134,957
S3.371
59,438
186,743
161,087
369,170
347,378
82,757
883,733
1,922,414
3.964,341
4,449,483
1.341.253
5.755.263
1,162,035
2,800,429
3 ,634,773
641,707
3 ,743,271
321,390
499,650
741.746
130,300
6lq.,242
68,781,818
9,778,841
307,345
25,828
903<211
n i ,545
1,016,503
15.645
5,036,824
494,872
9.961,343
1,921,755
14,422,956
2 ,031,598
1 ,724,560
321,480
90,127,680
178,078,777
493,860
1 ,419,211
1,630,870
7,375,820
2 9 ,315,851
28,436,769
4 .352.768
6,845,663
12,130,748
17,056,172
7,382,817
29,356,128
18,046,351
690,200
12,515,855
3 3 ,751,778
58,328,228
11,011,024
4 4 ,731,732
26,745,852
9,005,693
41,273
38, ^.éb
68,120
7,458
241,595
109,751
12,803
269,752
192,993
96,426
83,035
714,697
278,449
216,142
96,557
1^4,836
154,575
^7,272
802,519
512,454
117,342
633,1^2
802,854
688,686
-I41>042
3.M.959
1,804,067
738,929
2 ,913,605
1 ,737,652
1 ,598,299
3 ,050,284
12,074,978
8 ,149,616
208,584
2,8o8,509
3 ,283,847
2,069,672
3 ,640,503
11,632,558
7,103,476
2 ,181,797
90,127,680
178,078,777
'493,860
1,419,211
1,630,870
7,375,820
^2 9 ,315,851
2 8 ,436,769
100,94^
287,623
4 *647 »302
10,162,909
7 .247.659
3 .732,452
2 3 ,404,983
1 0 ,588,787
2 5 ,672,494
6,349,070
9 ,838,300
47,068,867
3 6 ,176,535
4 ,755,841
>
i:;
No net
income
Liquors and beverages
(alcoholic and non-alcoholic)
Net income
;
No net
income
87O
1 »¿48
1
‘
28,089
65.447
89,969
27.835
56.047
8 ,1 2 9
17,633
21,167
6,217
20,651
916,303
168,240 j
2 h4 ,7 3 9
53,854
126,099
33-357
1 ,897,618 1
565,981
233,253
409,923
387,873
250,320
571,779
1,682,133
1,080,057
29,317
322,588
295,963
119,372
335.929
698,368
298,133
172,796
I
j
89,980
24,l60
38,978
29,378
202,219
189,923
8,656
40 ,8 7 4
25,342
13,539
15,802
106,783
55.985
25,073
4 .352,768
1 ,897,618 1
565,981
233,253
7.053 :
Assets:
2
3
4
5
b
7
8
Cash 2/
Notes and accounts receivable
Inventories
Investments, tax-exempt _3/
Investments other than tax-exempt
Capital assets--lanas, buildings,
equipment (less depreciation)
Miscellaneous assets
Total assets
9
.
72,637
243.333
205,409
12,588
279,107
,
I
Liabilities:
10
11
12
13
14
Ç
lé
Notes and accounts payable
Bonded debt and mortgages
Miscellaneous liabilities
Capital stock-preierred
Capital stock— common
Surplus and undivided profits
Less deficit
Total liabilities
17
I
j
j
Returns of corporations submitting balance sheets for 1933 by major industrial groups, showing number of returns and assets
and liabilities as of December 3 1 » 1933» or
close of fiscal year nearest that date
(Continued)
(Money figures in thousands of dollars)
I N D U S T R I A L
GROUPS
(continued)
Manufacturing (continued)
Textiles and their
products
Tobacco products
„ , .
1
Net income >.
1 Number of returns with balance sheets 1/
No net
income
,, , .
«
Net income •
No net
income
Leather and its
manufactures
„ , .
Net income
:
No net
.
income
! „ , .
'Net income
»
;
I
;
Porest products
Rubber products
No net
• onmi,
income
,T . .
l,et income
,
No net
income
Paper, pulp, and
products
*
. ,T , .
• H0t lnoome
' N o net
'
income
118
233
5.585
8,581
963
1,266
213
315
1.584
4 .5 7 1
977
1,065
87.437
120,583
287,011
106,768
110,754
17,082
14.507
60,097
12,869
5,301
190,803
407.595
763,092
176.762
170,320
70,402
187,664
322,959
24,681
140,136
4 7,934
109,708
186,448
18,113
45,603
12,529
35,452
68,658
3,716
22,187
33.316
57.429
81,042
10,869
64,009
25,051
155,216
79,487
30,713
154, H 3
28,412
90,055
112,915
15.159
60,748
4 0 ,4 i|
207,451
243,698
22,90(f
230,84$
52,286
96,772
121,262
22.395
102,856
32,745
99.741
104,200
22,534
385,585
71.906
112,822
17,878
8,648
1,180,805
126,082
731.309
105,409
135,940
28,573
64,052
29,814
163,150
73,023
232,065
23.434
254,144
29,130
1,085,61$
127,24$
461,692
41,121
672,801
79,150
897,281
136.443
3 .015,459
1,582,558
572,319
236,409
482,839
700,079
590,562
1,958,17|
898,384
1.396,755
20,041
47.846
40,227
112,955
390,283
285,999
68
7.109
17.270
3.326
29,924
48,709
35.755
5,651
358,519
65,421
174.354
389,339
1.175.435
907,121
54.728
262,180
133,126
125,614
252,549
73b,495
334,387
261,793
63,918
12,744
37,267
86,965
215,822
167,357
11,754
46,081
9.347
13,249
50,710
114,443
47.204
44,626
21,299
61,183
15.567
104,136
182,460
102,857
4,664
122,479
142,183
73.708
121,242
235,721
85,710
80,966
67,875
30,924
36,145
31,452
242,999
192,748
11,581
282,777
200,383
132,445
lq .ij, 44V
916,22b
526,838
244,940
68,005
93,501
33,100
147.734
331,726
232,974
8,656
104,250
238,058
92,914
215,691
485,641
294,195
33,995
897,281
136.443
3.015.459
1 ,582,558
572,319
236,409
482,839
700,079
590,562
1,958,170
898,384
1,396,755
Assets
2
3
4
5
6
7
8
9
Cash 2/
Notes and accounts receivable
Inventories
Investments, tax-exempt 3/
Investments other than tax-exempt
Capital assets— lands,buildings,
equipment (less depreciation)
Miscellaneous assets
Total assets
Liabilities
10
11
12
13
14
15
16
17
Notes and accounts payable
Bonded debt and mortgages
Miscellaneous liabilities
Capital stock— preferred
Capital s10ck— common
Surplus and undivided profits
Less deficit
Total liabilities
R etu rn s o f c o r p o r a tio n s s u o m ittin g b a la n c e s h e e ts fo r 1933 by & ajor i n d u s t r i a l grou p s, showing tim b er o f r e tu r n s and a s s e t s
and l i a b i l i t i e s as o f December 3 1 » 1 9 3 3 or o f c lo s e o f f i s c a l yea r n e a r e s t t h a t d a te
(C o n tin u ed )
(Money f ig u r e s
in thousands o f d o l l a r s )
I N D U S T R I A L
G R O U P S
(co n tin u e d )
X
i
T r a n s p o r ta tio n and o th e r
1
Number o f r e tu r n s w ith b a la n c e s h e e ts 1 f
N et income :
:
No n e t
income
...S e r v i c e — p r o f e s s io n a l,
amusements,, h o t e l s , e t c .
Trade
p u b lic u t i l i t i e s
[
5
F in a n ce — ban kin g,
in su ra n ce , r e a l e s t a t e ,
s t o c k and bond
b ro k e rs, e t c .
*
Net income
i
Not income '
No n e t
income
Net income
:
:
No n e t
income
*
*
:
:
No n e t
income
N ature o f b u sin e ss
n o t g iv e n
N et income
No n e t
income
6 ,3 4 5
11,361
37,460
82,604
6,351
28,195
19,330
81,659
125
655
534,122
1 ,055.770
346,595
102„116
3 .942,192
755,529
1,154,410
394,397
83,462
7 ,195.536
648,918
2 ,099,310
2 ,254,779
214,740
735,431
341.317
I.844.924
1 .554,192
112,985
969,125
84,008
130,853
49 »066
28,461
119,377
120,078
494,191
90,316
22,834
573,437
1 ,292,430
2.641,717
19,289
1 ,934.201
12,584,175
7.,9 5 9,?i6
18,592,922
121,447
8,797,020
33,203,011
704
2 ,1 1 4
l8l
292
7,018
1.578
16,581
915
10,986
23,939
20,111,639
1 ,127,598
30,029.334
2,216,396
1.735.128
429.089
2 ,074,470
640,086
680,533
123,461
4.389,281
522,678
2,266,634.
1,007,036
11,445,531
3,610,078
1,388
1,240
15.537
11,605
2 7 ,220,033
4 1 ,829,065
8,117,395
7.537,100
1,215,758
6,212,814
21,745,481
83,729,826
1 2 ,9 3 8
81,141
880,890
8,602,405
1,384,875
2,928,956
9,714,464
3.771.685
63,241
1,916,701
18,356,566
3 .715.942
2,930,763
10,617,180
5 .450,330
1,158,417
l,9l6,068
280,699
441,474
8 1 7 ,7 0 0
4 ,0 0 7 ,1 5 0
7 ,5 7 3 .2 0 2
1,080
1 ,0 7 5 ,9 1 9
13 ,2 6 7 ,0 3 0
1 ,9 6 3 ,2 3 6
1 ,3 5 4 .5 9 5
116,767
1,046,459
112,346
240,791
91,707
101,305
424,180
274,244
28,815
8 4 1,9 4 7
2 ,4 8 3 .0 7 7
7 1 0 .7 1 6
4 79.62 3
2 ,981,685
1,708,473
845,746
575,653
862,147
3.236,945
2 ,7 4 6 ,5 1 3
615
11,309
2,573
3.928
20,409
4,291
4.934
12,552
65.793
18,829
4 5 , 666
8,117,395
7,537.100
83,729,826
12 .9 3 6
81,141
A s s e ts :
2
3
4
5
6
7
8
9
Cash
N otes and a cco u n ts r e c e i v a b le
I n v e n t o r ie s
In ve stm e n ts, tax-exe m p t ? J
In vestm en ts o th e r than ta x -e x e m p t
C a p i t a l a s s e t s — la n d s , b u il d i n g s ,
equipment ( l e s s d e p r e c ia t io n )
M is c e lla n e o u s a s s e t s
T o ta l a s s e ts
L ia b ilitie s :
10
11
12
13
14
15
lb
17
N otes and a cco u n ts p a y a b le
Bonded d eb t and m ortgages
M is c e lla n e o u s l i a b i l i t i e s
C a p i t a l s t o c k — p r e fe r r e d
C a p it a l s t o c k — common
S u rp lu s and u n d ivid ed p r o f i t s
L e ss d e f i c i t
T o ta l l i a b i l i t i e s
2 7 ,220,033
4 1,8 2 9 ,0 6 5
650,999
1 ,2 1 5 ,7 5 8
1 .7 5 5 .7 0 5
6 48,672
7 14 .9 2 6
6,212,814
5 7 !.4 9 7
2,987,630
3.155.665
132,959
2 1 ,745.481
5 0 ,2 8 3 ,4 8 4
2 ,4 6 2 ,7 3 1
12 ,4 6 0 ,4 8 9
9 ,6 8 9 ,2 8 4
836'
453
T re a su ry Departm ent, D iv is io n o f R ese arch and S t a t i s t i c s .
1/
2/
E x clu d e s r e tu r n s f o r i n a c t i v e c o r p o r a tio n s and r e tu r n s w ith fra g m e n ta ry b a la n c e sh e e t d a ta .
In c lu d e s ca sh in t i l l and d e p o s it s in bank«
3/
In clu d e s o b l i g a t io n s o f S ta b e s and t e r r i t o r i e s or minor p o l i t i c a l s u b d iv is io n s , s e c u r i t i e s
F e d e r a l Farm Loan A c t , and o b l i g a t i o n s o f th e U n ited S t a t e s or i t s p o sse ssio n s»
is s u e d under the
ïeturns of corporations submitting bstlsnc© shoots for 1933
major industrial groups, ¿Lowing number of returns and assets
and liabilities as of December 31. 1933 or
close of fiscal year nearest that date
(.Cont'inued)
(Money figures in thousands of dollars)
I N D U S T R I A L
Manufacturing
Printing, publishing, and
allied industries
Net income :
:
1
Number of returns with balance sheets 1¡
ff net
income
Chemicals and allied
products
Net income :
:
ne^
income
\
*
GROUPS
(continued)
Stone, clay, and
glass products
’ Net incomo :
:
:
(continued)
ne^
income
Metal and its
products
Net income :
:
ne^
income
Manufacturing not
elsewhere classified
Net income *
:
No net
income
Construction
Net income
:
:
ne^
income
2*567
7,984
2,356
4,202
626
2,969
4,214
13,125
1,455
4 ,43-
1,980
12,418
76,934
68,138
75*544
455*996
35.848
149,988
76,725
15,379
148,856
396,657
1,092,000
819,120
269,928
2,851,619
215,851
351,834
532,442
26,832
496,243
4 9 ,3H
71,520
95,537
36,381
99,897
32,105
84,969
119,497
25,081
70,830
550,039
858,999
936,934
428,531
1,037,010
562,898
1,125,065
1 ,645,746
402,407
1 ,607,754
59,802
115,873
146,269
22,669
86,162
36,347
127,577
154,690
35,789
181,604
32.851
100,701
29,428
38,292
34,011
67,323
289,176
95 ,1 4 4
72,935
333,797
456,640
349,336
335,917
224,834
2,771,982
368,280
35,604
704,745
72,125
1,909,448
363,567
2 ,753.978
253,495
327,596
6 ,445.422
719,772
218,057
59,466
336,769
186,072
96,023
44,189
458,675
139,981
1,861,896
987,547
8,564,873
4,630,674
756,532
1,109,353
6,048,657
12,509,063
708,297
1*058,848
375,495
1 ,457,032
344,727
150,230
85,180
135,646
552,133
610,861
16,881
183,124
137,378
88,128
107,383
378,255
213,992
120,712
954,678
405,567
331,122
482,588
4 .195,969
2,220,694
25,743
430 ,765
bl4,058
463,212
316,974
1 ,979,514
l,l6l,535
335,983
32,186
19,550
48,489
70,231
343,427
246,390
3,741
97,831
147,068
68,364
184,81b
514,918
202,551
106,196
432,921
413,492
444,633
810,734
2,323,673
1,648,819
25,614
773.38?
1,200,206
741.302
1,739.954
4,891.742
3.748,445
585,975
49.537
25,161
62,917
77,347
236,700
263,817
7,181
135.062
122,866
134.498
125,088
178,686
163,092
66,144
26,143
49.640
14.431
117.769
107,129
5^761
309,771
209,204
174,715
98,627
503,406
31§,i5i
156,842
1,861,896
987,547
8 ,564,873
4,630,674
756,532
1 ,109,353
6,048,657
12,509,063
708,299
1,058,848
375.495
1.457,032
Assets:
2
3
4
3
6
7
8
9
Cash 2/
Notes and accounts receivable
Inventories
Investments, tax-exempt 3/
Investments other than tax-exempt
Capital assets— lands, buildings,
equipment (loss depreciation)
Miscellaneous assets
Total assets
379,308
Liabilities :
10
11
12
13
14
15
16
17
Notes and accounts payable
Bonded debt and mortgages
Miscellaneous liabilities
Capital stock— preferred
Capital stock— common
Surplus and undivided profits
Less deficit
Total liabilities
m m
TREASURY DEPARTI«*
Washington
November 25^ 1935»
MEMORANDUM POR THE PRESS
RECEIPTS OP SILVER BY THE MINTS AND ASSAY OPEICES;
(Under Executive Proclamation of December 21, 1933) as amended
Week ended November 22, 1935:
Philadelphia* •'•••*•«••• ................•••.......
Jan Erancisco*................................. .
Denver.......... *......... ...*.••.••.••••••••••••
Total for week ended November 22, 1935. •••••••••••• •
Total receipts through November 22, 1935...........
561,636*77 fine ounces
571,359*48 l
_ ... C ,620*54 .
^
1,139,616*79 1
55,137,000*00 *
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 22, 1935:
Philadelphia*...................•••••«••*
N ew York ..........................
San Francisco..................
Denver*
New Orleans..... ..............
Seattle* •••«...... ......................
Total for week ended November 22* 1935.....
Total receipts through November 22, 1935*..
103*00 fine ounces
5,943.40
11
"
1,501*00
w
"
670*36
n
11
351*28
"
“
_______230*90 "
H
8,799*94
H
11
113,026,965*42
u
n
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ended November 22, 1935;
___.$
4,858.88
Philadelphia*
"Wpw Ym-V ..«ik_ iiji..*. .i..____ 48,922,300.00
l|230^200.87
Fran^-T s^-o
--.... •,
*
65^686*89
X)o.TlVP'T ........ ...k..-. ....«,
Ttfpw
ppnc«.
*h**....
15^624.00
Total for week ended November 22* .'$50,238 ,670 *64
Secondary
$136,483.56
255,800*00
42,267.05
40,707.22
40,959.80
24[661*47
$540,879.10
New
Domestic
$
1,339*17
291*600*00
1,484,743.43
556,272*26
912.220*21
$3,246,175*07
COLD RECEIVED BY THE, FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks: G-old Coin
Week ended November 20*.'•••...••$
18,115*56
. Received previously* *......*...* 30.916*457*53
Total to November 20*••.......$30,934,573*09
Received by Treasurer’s Office:
Week ended November 20*.......**$
Received p r e v i o u s l y * ; »■
Total to November 20*.;..*.....;$
NOTE;
Gold Certificates
$
210,410.00
99*757.210*00
$99,967,620*00
$
266.256*00
266,256*00
Gold bars deposited with the New York Assay Office
in the amount of $200,572*69 previously reported*1
6,400*00
2.294,600*00
$' 2,301,000.00
TREASURY DKPARTlfENT
WASHINGTON
FOE RELEASE, HORNING NEWSPAPERS,
Tuesday, B w a f e g r S » l^ S I *
U /8 S /S 5
P r e s ® SerV iee
6 ^ o l)
S e c r e ta r y o f th e T reasu ry Morgenthau announced l a s t evening t h a t th e ten d ers
f o r two s e r i e s o f T reasu ry b i l l s , t o be d ated November 27* 1 9 5 5 , which were o ffe re d
on November 22, were opened a t th e F e d e ra l R eserve basks on November 23, 1 9 3 5 .
Tenders were in v ite d f o r th e two s e r i e s t o th e a g g re g a te amount o f # 1 0 0 ,0 0 0 ,0 0 0 ,
o r th e re a b o u ts , and #290 , 492,000 was a p p lie d f o r , o f which # 1 0 0 ,3 0 0 ,0 0 0 was accep ted .
The d e t a i l s o f th e two s e r i e s a r e a s fo llo w s :
110-BAY TREASURY BILLS. MjOTRINO MARCH I d , 1 9 »
F o r t h i s s e r i e s , which was f o r * 5 0 , 000 . 000 , o r th e r e a b o u ts , th e t o t a l aaount
ap p lied f o r was # 1 2 4 ,0 2 5 ,0 0 0 , o f which # 5 0 ,2 5 0 ,0 0 0 was a c c e p te d ,
a c c e p t f o r one hid
o f # 5 0 ,0 0 0 , th e a c c e p te d b id s ranged In p r i c e fro® 9 9 .9 0 1 , e q u iv a le n t t o a r a t e o f
about 0 .0 2 9 p e rc e n t p er annum, t o 9 9 .9 8 0 , e q u iv a le n t to a r a t e o f abou t 0 .0 8 5 pereen
p er annum, on a took d isco u n t b a s i s .
p r ic e was a c c e p te d .
Only p a r t o f th e amount b id f o r e t - t h e l a t t e r
-The average p r i c e o f T reasu ry b i l l , o f t h i s s e r i e s t o be issued
i s 9 9 .9 8 1 and th e av erag e r a t e i s sh ou t 0 .0 6 3 p e rc e n t p e r «mum on a bank diecount
b a sis.
273-DAY TREASURY B IL IS . MATURING AUGUST 26# I 9 $ £
f o r t h i s s e r i e s , which was f o r # 5 0 ,0 0 0 ,0 0 0 , o r th e r e a b o u ts , th e t o t a l a m o « t
a p p lied f o r - a s # 1 6 6 ,4 6 7 .0 0 0 , o f which # 5 0 ,0 5 0 ,0 0 0 was a c c e p te d .
The a c c e p te d b id .
ranged in p r i e s f r o - 9 9 .9 0 5 , e q u iv a le n t to . r a t e o f about 0 .1 2 5 P e rce n t p e r annum,
t o 9 9 .8 9 8 , e q u iv a le n t t o a r a t e o f about 0 .1 3 5 p e rce n t p e r « m a s , on a bank discount
b a a is .
Only p a r t o f th a amount b id f o r a t th e l a t t e r p r i c e - a s a c e e p te d .
The
av erag e p r i c e o f T reasu ry b i l l s o f t h i s s e r i e s t o be issu e d i s 9 9 .9 0 1 and th e av er«
r a t e i s about 0 .1 3 1 p e rc e n t p e r annum on a bank d isco u n t b a s i s .
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING- NEWSPAPERS,
Tu esday,,November 26« 1935____ _
11—25— 35«
Press Service
No. 6—30
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury bills, to be dated November 27, 1935, which were
offered on November 22, were opened at the Federal Reserve banks on November 25,
1935.
Tenders
vrere
invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $290,492,000 was applied for, of which
$100*300,000 was accepted.
The details of the two series are as follows:
llO^BAY TREASURY BILLS, MATURING MARCH 16, 1936
For this series, which was for $50,000,000* or thereabouts, the total amount
applied for was $124,025,000, of which $50,250,000 was accepted.
Except for one
bid of $50,000, the accepted bids ranged in price from 99.991, equivalent to a
rate of about 0.029 percent per annum, to 99.980, equivalent to a rate of about
0*065 percent per annum, on a bank discount basis.
for at the latter price was accepted.
Only part of the amount bid
The average price of Treasury bills of
this series to be issued is 99.981 and the avernge rate is albout 0.063 percent
per annum on a bank discount basis.
273-DAY TREASURY BILLS. MATURING- AUGUST 26, 1936
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $166,467,000, of which $50,050,000 was accepted.
The accepted
bids ranged in price from 99.905, equivalent to a rate of about 0.125 percent per
annum, to 99.898, equivalent to a rate of about 0.135 percent per annum, on a bank
discount basis.
Only part of the amount bid for at the latter price
accepted.
The average price of Treasury bills of this series to be issued is 99.901 and the
average rate is about 0.131 percent per annum on a bank discount basis.
ooOoo
;
- 3 amounts o v er $ 5 * 0 0 0 w il l be a l l o t t e d on an equal p ercen tag e, b a s i s , b u t not l e s s than
th e maximum p r e f e r re d a llo tm e n t; and s u b s c rip tio n s in payment o f which T re a su ry Notes
of S e r i e s D -1935 a re ten d ered w i l l be a l l o t t e d i n f u l l *
A llotm en t n o t i c e s w il l be
se n t out prom ptly upon a l l o t m a t t , and th e b a s i s of th e allo tm en t w i l l be p u b lic ly
announced.
IV*
1.
PAYMENT
Payment a t par and accru ed i n t e r e s t , i f an y , f o r n o te s a l l o t t e d on cash
s u b s c rip tio n s must be made o r com pleted on o r b e fo re December 1 6 , 1 9 5 5 , or on l a t e r
a llo tm e n t.
In ev ery case where payment i s n o t so com pleted, th e payment wi t& ap p li
c a tio n up t o 5 p e rce n t d f the amount o f n o te s ap p lied f o r s h a l l , upon d e c la r a tio n
made by th e S e c r e ta r y o f th e T reasu ry in h i s d i s c r e t i o n , be f o r f e i t e d t o th e U nited
S ta te s .
Any
q u a lif ie d d e p o s ita ry w ill be p erm itted t o make payment by c r e d it f o r
n o te s a l l o t t e d to i t f o r i t s e l f end i t s custom ers up to any amount f o r which i t s&all
be q u a lifie d in e x c e s s o f e x i s t i n g d e p o s its , when so n o t i f i e d by th e F e d e ra l Reserve
bank o f i t s d i s t r i c t .
T reasu ry N otes o f S e r i e s D -1955, m atu rin g December 1 5 , 1 9 3 5 ,
w i l l be a c c e p te d a t p ar in payment f o r any n o te s su b scrib ed f o r and a l l o t t e d and such
payment should be made when th e s u b s c rip tio n i s ten d ered *
V.
1.
GENERAL PROVISIONS
As f i s c a l a g e n ts of th e U nited S t a t e s , F e d e ra l R eserve banks a r e au th orized
and req u ested to r e c e iv e s u b s c r ip tio n s , to make a llo tm e n ts on th e b a s is and up to the
amounts in d ic a te d by th e S e c r e ta r y o f th e T reasu ry t o th e F e d e ra l R eserve banks of
th e r e s p e c ti v e d i s t r i c t s , to is s u e a llo tm e n t n o t i c e s , t o r e c e iv e payment f o r n o tes
a l l o t t e d , t o make d e liv e r y o f n o te s on f u l l - p a i d s u b s c rip tio n s a l l o t t e d , and th e y
may is s u e in te rim r e c e i p t s pending d e liv e ry of th e d e f i n i t i v e n o te s .
3.
The S e c r e ta r y o f the T reasu ry may a t any tim e , o r from time t o tim e , prescrib
supplemental or amendatory rules and r e g u la tio n s governing the o f f e r i n g , w h i * «1 X
communicated prom ptly to th e F e d e ra l R eserve bank s.
henry morgenthau,
J R .,
S ecretary of the Treasury*
payment of income and p r o f i t s ta x e s payable a t th e m a tu rity o f th e n o t e s .
4.
The n o te s w il l be a c c e p ta b le to se cu re d e p o s its o f p u b lic moneys, but w ill I
not b ear th e c i r c u l a t i o n p r i v i l e g e .
5.
B e a re r n o te s w ith i n t e r e s t coupons a tta c h e d w ill be issu e d in denominations
o f $ 1 0 0 , $ 5 0 0 , $ 1 ,0 0 0 , $ 5 ,0 0 0 , $ 1 0 ,0 0 0 and $ 1 0 0 ,0 0 0 .
The n o te s w ill not be issu ed ij
r e g i s t e r e d form .
III.
1.
SUBSCRIPTION AMD ALLOTMENT
S u b s c rip tio n s w ill be r e c e iv e d a t th e F e d e ra l R eserve banks and branches ant
a t th e T reasu ry D epartm ent, W ashington.
Banking i n s t i t u t i o n s g e n e r a lly w ill handle
a p p lic a tio n s f o r s u b s c r ib e r s , but only th e F e d e ra l Reserve banks and th e T reasu ry
Department a re a u th o riz e d to a c t a s o f f i c i a l a g e n c ie s .
Cash s u b s c rip tio n s from
in c o rp o ra te d banks and t r u s t companies f o r t h e i r own accou n t w il l be r e c e iv e d with
out d e p o sit but w i l l be r e s t r i c t e d in each case to an amount not exceed in g on e-h alf
o f th e combined c a p i t a l and su rp lu s o f th e su b scrib in g bank o r t r u s t company.
Cash
s u b s c rip tio n s from a l l o th e rs must be accom panied, i f f o r more th an $ 5 ,0 0 0 , by pay
ment o f $ 5 ,0 0 0 or 5 p e rc e n t of th e amount of n o te s a p p lied f o r , w hichever i s the
g r e a t e r ; and, i f f o r $ 5 ,0 0 0 or l e s s , by payment in f u l l .
The S e c r e ta r y o f t h e
T reasu ry r e s e r v e s th e r i g h t to c lo s e th e books as to any o r a l l s u b s c rip tio n s o r
c l a s s e s o f s u b s c rip tio n s a t any tim e w ithout n o t i c e .
S.
The S e c r e ta r y o f th e T reasu ry r e s e r v e s the r ig h t to r e j e c t any subscription
in whole o r in p a r t , to a l l o t l e s s than th e amount o f n o te s a p p lied f o r , to make allc
ments in f u l l upon a p p lic a tio n s fo r sm a lle r amounts and t o make reduced a llo tm en ts
o r to r e j e c t , a p p lic a tio n s f o r l a r g e r am ounts, o r to adopt any o r a l l o f sa id method*
o r such o th e r methods o f a llo tm e n t and c l a s s i f i c a t i o n of a llo tm e n ts as s h a l l be deem*
by him t o be in th e p u b lic i n t e r e s t ; and h is a c tio n in any or a l l o f th e s e re sp e cts
s h a l l be f i n a l .
S u b ject to th e se r e s e r v a t i o n s , cash s u b s c rip tio n s f o r amounts up to
and in clu d in g $ 5 ,0 0 0 w i l l be given p r e f e r re d a llo tm e n t, and cash s u b s c rip tio n s for
UNITED STATES OF AMERICA
1-1/2 PERCENT TREASURY NOTES OF SERIES C-1940
Dated and bearing interest from December 16, 1935
Due December 15, 1940
Interest payable June 15 and December 15
1935
Department Circular No* 556
TREASURY DEPARTMENT,
Office of the Secretary
Washington, December !
Public Debt Service
I*
1*
OFFERING OF NOTES
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions,
at par and accrued interest, from the people of the United States for l**l/2 percent
notes of the United States, designated Treasury Notes of Series C-1940.
The amount
of the offering is $450,000,000, or thereabouts, with the right reserved to the
Secretary of the Treasury to increase the offering by an amount sufficient to accept
all subscriptions for which Treasury Notes of Series D-1935, maturing December 15,
1935, are tendered in payment and accepted*
II*
x.
DESCRIPTION OF NOTES
The notes will be dated December 16, 1935, and will bear interest from that
date at the rate of 1-l/E percent per annum, payable on a semiannual basis on June 15
and December 15 in each year.
They will mature December 15, 1940, and will not be
subject to call for redemption prior to maturity.
The notes shall be exempt, both as to principal and interest, from all taxation (except estate or inheritance taxes, or gift taxes) now or hereafter imposed by
the United States, any State, or any of the possessions of the United States, or by
any local taxing authority*
3.
The notes will be accepted at par during such time and under such rules an
regulations as shall be prescribed or approved by the Secretary of the Treasury in
amount for which it shall be qualified in excess of existing deposits, w h m
notified by the Federal Reserve bank of its district.
so
If payment is to be made in
Treasury Notes of Series D-1935, maturing December 15, 1935, the notes will be ac
cepted at par and should accompany the subscription, and accrued interest from
September 16 to December 16, 1935, on the bonds allotted should be paid in cash
on or before December 16, 1935^ Acchhed interest at 2—3/4 percent from September
16, 1935, to December 16, 1935, on #1,000 face amount is #6*875*
V.
GENERAL PROVISIONS
1 . As fiscal agents of the United States, Federal Reserve banks are authorized
and requested to receive subscriptions, to make allotments on the basis and up to
the amounts indicated by the Secretary of the Treasury to the Federal Reserve banks
of the respective districts, to issue allotment notices, to receive payment fcr
bonds allotted, to make delivery of bonds on full-paid subscriptions allotted, and
they may Issue interim receipts pending delivery of the definitive bends*
2.
The Secretary of the Treasury may at any time, or from time to time, pre
scribe supplemental or amendatory rules and regulations governing the offering,
which will be communicated promptly to the Federal Reserve banks.
HENRY" MORGENTHAU, JR.,
Secretary of the Treasury.
- 3 of $5,000 or 5 percent of the amount of bonds applied for, whichever is the greater;
and, if for $5,000 or less, by payment in full including accrued interest from Septem
ber 16 to December 16, 1935, on the bonds applied for*
The Secretary of the Treasury
reserves the right to close the books as to any or all subscriptions or classes of
subscriptions at any time without notice.
2.
The Secretary of the Treasury reserves the ri$it to reject any subscription,
in whole or in part, to allot less than the amount of bonds applied for, to make
allotments in full upon applications for smaller amounts and to make reduced allot
ments upon, or to reject, applications far larger amounts, or to adopt any or all of
said methods or such other methods of allotment and classification of allotments as
shall be deemed by him to be in the public interest; and his action in any or all of
these respects shall be final.
Subject to these reservations, cash subscriptions
for amounts up to and including $5,000 will be given preferred allotment, and cash
subscriptions for amounts over $5,000 will be allotted on an equal percentage basis, b
not less than the maximum preferred allotment; and subscriptions in payment of which
Treasury Notes of Series D-1935 are tendered will be allotted in full.
Allotment
notices will be sent out promptly upon allotment, and the basis of the allotmait will
be publicly announced,
TV.
1.
PAYMENT
Payment at par and accrued interest from September 16, 1935, for bonds
allotted on cash subscriptions must be made or completed on or before December 16,
1935, or on later allotment.
In every case where payment is not so completed, the
payment with application up to 5 percent of the amount of bonds applied for shell,
upon declaration made by the Secretary of the Treasury in his discretion, be for
felted to the United States.
Any qualified depositary will be permitted to make
payment by credit for bonds allotted to it fear itself and its customers up to any
2 ber 15, 1945, in whole or in part, a* par and accrued interest, on any
interest day or days, on 4 months* notice of redemption given in such
manner as the Secretary of the Treasury shall prescribe. In case of
partial redemption the bonds to be redeemed will be determined by such
method as may be prescribed by the Secretary of the Treasury. From the
date of redemption designated in any such notice, interest 6h the bonds
called for redemption shall cease*
"The bonds shall be exempt, both as to principal and interest, from
all taxation now or hereafter imposed by the United States, any State,
or any of the possessions of the United States, or by any local taxing
authority, except (a) estate or inheritance taxes, or gift taxes, and
(b) graduated additional income taxes, commonly known as surtaxes, and
excess-profits and war-profits taxes, now or hereafter imposed by the
United States, upon the income or profits of individuals, partnerships,
associations, or corporations. The interest on an amount of bonds author
ized by the Second Liberty Bond Act, approved September 24, 1917, as
amended, the principal of which does not exceed in the aggregate $5,000,
owned by any individual, partnership, association, or corporation, shall
be exempt from the taxes provided for in clause (b) above.
"The bonds will be acceptable to secure deposits of public moneys,
but will not bear the circulation privilege and will not be entitled to
any privilege of conversion.
"Bearer bonds with interest coupons attached, and bonds registered
as to principal and interest, will be issued in denominations of $50,
|100, |500, #1,000, #5,000, #10,000 and #100,000. Provision will be
made for the interchange of bonds of different denominations and of
coupon and registered bonds, and for the transfer of registered bonds,
under rules and regulations prescribed by the Secretary of the treasury.
"The bonds will be subject to the general regulations of the
Treasury Department, now or hereafter prescribed, governing United
States bonds."
III.
1.
SUBSCRIPTION AND ALLOTMENT
Subscriptions will be received at the Federal Reserve banka and branches ani
at the Treasury Department, Washington.
Banking institutions generally will handle
applications for subscribers, but only the Federal Reserve banks and the Treasury
Department are authorized to act as official agencies.
Cash subscriptions from
incorporated banks and trust companies for their own account will be received with
out deposit but will be restricted in each case to an amount not exceeding one-half
of the combined capital and surplus of the subscribing bank or trust company.
Cash
subscriptions from all others must be accompanied, if for more than #5,000, by pa«s
Ì4-
Dated and bearing interest from September 16, 1935
Due September 15, 194!
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AMD AFT!
»
SEPTEMBER 15, 1945
Interest payable March 15 and September 15
ADDITIONAL ISSUE
1935
Department Circular No. 555
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, December 2, 19
Public Debt Service
I.
1.
OFFERING OF BONDS
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions, at
par and accrued interest from September 16, 1935, from the people of the Uhited
States for 2-3/4 percent bonds of the United States, designated Treasury Bonds of
1945-47.
The amount of the offering is #450,000,000, or thereabouts, with ifc e right
reserved to the Secretary of the Treasury to increase the offering by an amount
sufficient to accept all subscriptions for which Treasury Notes of Series D-1935,
maturing December 15, 1935, are tendered in payment and accepted.
II.
1.
DESCRIPTION OF BONDS
The bonds now offered will be an addition to and will form a part of -the
series of 2-3/4 percent Treasury Bonds of 1945—47 issued pursuant to Department
Circular No. 550, dated September 3, 1935, will be freely interchangeable therewith,
are identical in all respects therewith, and are described in the following quota
tion from Department Circular No. 550:
"The bonds will be dated September 16, 1935, and will bear interest
from that date at the rate of 2-3/4 percent per annum, payable on a semi
annual basis on March 15 and September 15 in each year until the prin
cipal amount becomes payable. They will mature September 15, 1947, but
may be redeemed at the option of the TMited States on and after Septem-
I
-3-
Subject to the reservations set forth in the official circulars,
cash subscriptions for amounts up to and including |5,000 will be given
preferred allotment, cash subscriptions for amounts over $5,000 w H l be
allotted on an e<iual percentage basis, but not less than the maximum
preferred allotment, and exchange subscriptions will be allotted in full.
Payment for any bonds or notes allotted must be made or completed on
or before December 16, 1935, and with respect to the Treasury bonds,whether
on cash or exchange subscription, must include accrued interest from September
16 to December 16, 1935.
The right is reserved to close the books as to any or all subscriptions
or classes of subscriptions at any time without notice, either for the
Treasury bonds or the Treasury notes and with respect to the cash offering
or with respect to the exchange offering of either.
D-1935
The amount of Treasury notes of Series / maturing December 15, 1935, is
1418,291,900.
The texts of the official circulars follows:
The Treasury beads, belag an additional issue, will be accorded the
same exemptions from taxation as are accorded the original issue, and the
Treasury notes will be accorded tihe same exemptions as are accorded other
issues of Treasury notes now outstanding.
These provisions are specifically
set forth in the official circulars issued today.
The Treasury bonds will be issued in two forms, bearer bonds with
interest coupons attached, and bonds registered as to both principal and
interest; both forms will be Issued in the denominations of #50, #100, #500,
#1,000, #5,000, #10,000 and #100,000. f The Treasury notes will be issued
only in bearer form with coupons attached, in the denominations of #100, #500,
#1,000, #5,000, #10,000 and #100,000. |
Applications will be received at the Federal Reserve banks and branches,
and at the Treasury Department, Washington. Banking institutions generally
will handle applications for subscribers, but only the Federal Reserve banks
and the Treasury Department are^authorized to act as official agencies. With
respect to cash subscriptions for either the Treasury bonds or the Treasury
notes, applications from incorporated banks and trust companies for either
issue for their own account will be received without deposit but will be
restricted in each case and for each offering to an amount not exceeding onehalf of the combined capital and surplus of the subscribing bank or trust
company.
Applications from all others must be accompanied, if for more than
#5,000,by payment of #5,000 or 5 percent of the amount applied for, whichever
is the greater; and, if for #5,000 or less, by payment in full.
With respect
to exchange subscriptions for either bonds or notes, applications should be
accompanied by a like face amount of 2-1/2 percent Treasury notes of Series
D-1935 tendered in payment.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday, December 2. 1935.
11-30*35
Press Service
No* |q ^ 3 I
Secretary of the Treasury Morgenthau is today offering for subscription,
at par and accrued interest,through the Federal Reserve banks, $450,000,000,
or thereabouts, of
2-3/4 percent Treasury bonds of 1945-47, and
I;
$450,000,000, or thereabouts, of 5-year 1-1/2 percent Treasury notes of Series
C-1940.
At the same time holders of 2-1/2 percent Treasury notes of Series
D-1935 maturing December 15, 1935, are offered the privilege of exchanging their
maturing notes either for the Treasury bonds or the Treasury notes, and to the
extent such exchange privilege is availed of, the offering of bonds or of notes
may
be increased*
The Treasury bonds, now offered for cash, and in exchange for Treasury
notes maturing December 15, 1935, will be an addition to and will form a part
of the series of 2-3/4 percent Treasury bonds of 1945-47 issued pursuant to
Department Circular No. 550, dated September 3, 1935.
They are identical in
all respects with such bonds, with which they will be freely interchangeable.
The bonds are dated September 16, 1935, and bear interest from that date at
the rate of 2-3/4 percent per annum payable semiannually*
They will mature
September 15, 1947, but may be redeemed at the option of the United States on
and after September 15, 1945*
The Treasury notes of Series C-1940, also offered for cash, and in exchange
for Treasury notes maturing December 15, 1935, will be dated December 16, 1935,
and will bear interest from that date at the rate of 1-1/2 percent per annum
payable semiannually*
They will mature December 15, 1940, and will not be sub
ject to call for redemption before that date*
TREASURY DEPARTMENT
Washington
PGR RELEASE, MORHIEG NEWSPAPERS,
Monday, December 2, 1935«_______
11-30-35.
Press Service
No. 6-31
Secretary of the Treasury Morgenthau is today offering for subscription, at
par and accrued interest, through the Federal Reserve hanks, $450,000,000, or
thereabouts, of 2-3/4 percent Treasury bonds of 1945-47, and $450,000,000, or
thereabouts, of 5-year 1-1/2 percent Treasury notes of Series 0-1940.
At the same
time holders of 2-1/2 percent Treasury notes of Series D-}.935 maturing December 15,
1935, are offered the privilege of exchanging their maturing notes either for the
Treasury bonds or the Treasury notes, and to the extent such exchange privilege is
availed of, the offering of bonds or of notes may be increased.
The Treasury bonds, now offered for cash, and in exchange for Treasury notes
maturing December 15, 1935, will be an addition to and will form a part of the
series of 3-3/4 percent Treasury bonds of 1945-47 issued pursuant to Department
Circular ho. 550, dated September 3, 1935.
They are identical in all respects with
such bonds, with which they will be freely interchangeable.
The bonds are dated
September 16, 1935, and bear interest from that date at the rate of 2-3/4 percent
per annum payable semiannually.
They will mature September 15, 1947, but mpy be
redeemed at the option of the United States on and after September 15, 1945.
The Treasury notes of Series C-1940, also offered for cash, and in exchange
for Treasury notes maturing December 15, 1935, will be dated December 16, 1935,
and will bear interest from that date at the rate of
payable semiannually.
1 -1 / 2
percent per annum
They will mature December 15, 1940, and will not be subject
to call for redemption before that date.
The Treasury bonds, being an additional issue, m i l "be accorded the same
exemptions from taxation as are accorded the original issue, and the Treasury notes
will he accorded the same exemptions as are accorded other issues of Treasury notes
now outstanding.
These provisions are specifically set forth in the official
circulars issued today.
The Treasury bonds will be issued in two forms, bearer bonds with interest
coupons attached, and bonds registered as to both principal and interest; both forms
will be issued in the denominations of $50, $100, $500, $1,000, $5,000, $10,COO and
and $>100,000,
The Treasury notes will be issued only in bearer form with coupons
attached, in the denominations of $100, $500, $1,000, $5,000, $10,000 and $100,000.
Applications will be received at the Federal Reserve banks and branches, and
at the Treasury Department, Washington.
Banking institutions generally will handle
applications for subscribers, but only the Federal Reserve banks and the Treasury
Department are authorized to act as official agencies.
With respect to cash sub
scriptions for either the Treasury bonds or the Treasury notes, applications from
incorporated banks and trust companies for either issue for their own account ?/ill
be received without deposit but will be restricted in each case and for each offering
to an amount not exceeding one-half of the combined capital and surplus of the sub
scribing bank or trust company.
Applications from all others must be accompanied,
if for more than $>5,000, by payment of $5,000 or 5 percent of the amount applied for,
whichever is the greater; and, if for $5,000 or less, by payment in full.
With
respect to exchange subscriptions for either boncfe or notes, applications should be
accompanied by a like face amount of 2—1/2 percent Treasury notes of Series D-1935
tendered in payment#
~3~
Subject to the reservations set forth in the ofiicial circulars, cash
subscriptions for amounts up to and including $5,000 Yvrill be given preferred
allotment, cash subscription^ for amounts over $5,000 will be allotted on an
equal percentage basis, but not less than the maximum preferred allotment, and
exchange subscriptions will be allotted in full*
Payment for any bonds or notes allotted must be made or completed Qn or
before December 16, 1935, and with respect to the Treasury bonds, whether on cash
or exchange subscription, must include accrued interest from September 16 to
December 16, 1935*
The right is reserved to close the books as to any or all subscriptions or
classes of subscriptions at any time without notice , either for the Treasury bonds
or the Treasury notes and with respect to the cash offering or with respect to the
exchange offering of either*
The-amount of Treasury notes of Series D-1935 maturing December 15, 1935, is
$418,291,900*
The texts of the official circulars follows;
UNITED STATES OE AMERICA
2-3/4 PERCENT TREASURY BONDS OE 1945-47
Dated and "bearing interest from September 16, 1935
Due September 15, 1947
REDEEMABLE AT THE OPTION OF THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND
AFTER SEPTEMBER 15, 1945
Interest payable March 15 and September 15
ADDITIONAL ISSUE
1935
Department Circular No. 555
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, December 2, 1935*.
Public Debt Service
I*
1.
OFFERIN'! OF BONDS
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions*
at par and accrued interest from September 16, 1935, from the people of the United
States for 2-3/4 percent bonds of the United States, designated Treasury Bonds of
1945-47.
The amount of the offering is $450,000,000, or thereabouts,- with the
right reserved to the Secretary of the Treasury to increase the offering by an
amount sufficient to accept all subscriptions for which Treasury Notes of Series
D-1935, maturing December 15, 1935, are tendered in payment and accepted.
II.
1.
DESCRIPTION OF BONDS
The bonds now offered will be an addition to and will form a part of the
series of 2-3/4 percent Treasury Bonds of 1945-47 issued pursue,nt to Department
Circular No. 550, dated September 3, 1935, will be freely interchangeable there
with, are identical in all respects therewith, and are described in the following
Quotation from Department Circular No. 550:
nThe bonds will be dated September 16, 1935, and will bear interest
from that date at the rate of 2—3/4 percent per annum, payable on a semi
annual basis on March 15 and September 15 in each year until the principal
amount becomes payable. . They will mature September 15, 1947, but may be
redeemed at the option of the United States on and after September 15* 1945,
in whole or in part, at par and accrued interest, on any interest day or days,
on 4 months’ notice of redemption given in such manner as the Secretary
of the Treasury shall prescribe. In case of partial redemption the bonds
to be redeemed will be determined by such method as may be prescribed by
the Secretary of the Treasury. From the date of redemption designated
in any cuch notice, interest on the bonds called for redemption shall
cease.
“The bonds shall be exempt, both as to principal and interest, from
all taxation now or hereafter imposed by the United States, any State,
or any of the possessions of the United States, or by any local taxing
authority, except (a) estate or inheritance taxes, or gift taxes, and
(b) graduated additional income taxes, commonly known as surtaxes, and
excess-profits and war-profits taxes, now or hereafter imposed by the
United States, upon the income or profits of individuals, partnerships,
associations, or corporations. The interest on an amount of bonds author
ized by the Second Liberty Bond Act, approved September 24, 1917, as
amended, the principal of which does not exceed in the aggregate $5,000,
owned by any individual, partnership, association, or corporation, shall
be exempt from the taxes provided for in clause (b) above.
•’The bonds will be acceptable to secure deposits of public moneys,
but will not bear the circulation privilege and will not be entitled to
any privilege of conversion.
“Bearer bonds with interest coupons attached, and bonds registered
as to principal and interest, will be issued in denominations of $50,
$100, $500, $1,000, $5,000, $10,000 and $100,000.
Provision will be
made for the interchange of bonds of different denominations and of
coupon and registered bonds, and for the transfer of registered bonds,
under rules and regulations prescribed by the Secretary of the Treasury.
“The bonds will be subject to the general regulations of the
Treasury Department, now or hereafter prescribed, governing United States
bonds. 11
III.
1.
SUBSCRIPTION AND ALLOTMENT
Subscriptions will be received at_the Federal Reserve banks and branches
and at the Treasury Department, Washington.
Banking institutions generally will
handle applications for subscribers, but only the Federal Reserve banks and the
Treasury Department are authorized to act as official agencies.
Cash subscriptions
from incorporated banks and trust companies for their own aecount will be received
without deposit but will be restricted in each case to am amount not exceeding onehalf of the combined capital and surplus of the subscribing bank or trust company.
Cash subscriptions from all others must be accompanied, if for more than $5 ,0 0 0 ,
payment of $5,000 or 5 percent of the amount of bonds applied for, whichever
- 3 -
is the grea/ter; and, if for $5,000 or less, by payment in full including accrued
interest from September 16 to December 16, 1935, on the bonds applied for.
The
Secretary of the Treasury reserves the right to close the books as t9 any or all
subscriptions or classes of subscriptions at any time without notice.
2.
The Secretary of the Treasury reserves the right to reject any subscrip
tion, in whole or in part, to allot less than the amount of bonds applied for, to
I
make allotments in full upon applications for smaller amounts and to make reduced
allotments upon, or to reject, applications for longer amounts, or to adopt any or
all of said methods or such other methods of allotment and classification of
allotments as shall be deemed by him to be in the public interest; and his action
in any or all of these respects shall be final.
Subject to these reservations,
cash subscriptions for amounts up to and including $5,000 will be given preferred
allotment, and cash subscriptions for amounts over $5,000 will be allotted on an
equal percentage basis, but not less than the maximum preferred allotment; and
subscriptions in payment#of which Treasury Notes of Series D-1935 are tendered
will be allotted in full.
Allotment notices will be sent out promptly upon allot
ment, and the basis of the allotment will be publicly announced.
IV.
1,
PAYMENT
Payment a„t pan and accrued interest from September 16, 1935, for bonds
allotted on canh subscriptiqns must be made or completed on or before December 16,
1935, or on later allotment.
In every cane where payment is not so completed, the
payment with application up to 5 percent of the amount of bonds applied for shall,
npon declaration ma.de by the Secretary of the Treasury in his discretion, be for
feited to the United States.
Any qualified depositary will be permitted to make
payment by credit for bonds allotted to it for itself and its customers up to any
amount for which it shall be qualified in excess of existing deposits, when so
Notified by the Eedera.1 Reserve bank of its district.
If payment is to be made
in Treasury Notes of Series D-1935, maturing December 15, 1935, the notes will "be
accepted at par and should accompany the subscription, and accrued interest from
September 16 to December 16, 1935, on the bonds allotted should be paid in cash
on or before December 16, 1935.
Accrued interest at 2-3/4 percent from September 16
1935, to December 16, 1935, on $1,000 face amount is $6,875.
V.
1.
GENERAL PROVISIONS
As fiscal agents of the United States, Federal Reserve banks are authorized
and requested to receive subscriptions, to make allotments on the basis and up to
the amounts indicated by the Secretary of the Treasury to the Federal Reserve banks
of the respective districts, to issue allotment notices, to receive payment for
bonds allotted, to make delivery of bonds on full-paid subscriptions.allotted, and
they may issue interim receipts pending delivery of the definitive bonds.
2.
The Secretary of the Treasury may a/t any time, or from time to time, pre
scribe supplemental or amendatory rules and regulations governing the offering,
which will be communicated promptly to the Federal Reserve banks.
HENRY MORGENTHAU, JR.,
Secretary of the Treasury.
u n i t e d states oe
Am e r i c a
1-1/2 PERCENT TREASURY NOTES OF SERIES C-1940
Dated and Nearing interest from December 16, 1335
Due December 15, 1940
Interest payable June 15 and December 15
1935
Department Circular.No* 556
TREASURY DEPARTMENT,
Office of the Secretary*
Washington, December 2,. 1935*
Public Debt Service*
I*
1.
OFFERING OF NOTES
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions,
at par and accrued interest, from the people of the United States for 1—1/2 percent
notes of the United States, designated Treasury Notes of Series C—1940*
The amount
of the offering is $450,000,000, or thereabouts, with the right reserved to the
Secretary of the Treasury to increase the offering by an amount sufficient to accept
all subscriptions for which Treasury Notes of Series D-1935, maturing December 15,
1935, are tendered in payment and accepted*
II.
1*
DESCRIPTION OF NOTES
The notes will be dated December 16, 1935, and will bear interest from that
date at the rate of 1—1/2 percent per annum, payable on a semiannual basis on Juné 15
and December 15 in each year*
They will mature December 15, 1940, and will not bo
subject to call for redemption prior to maturity*
2*
The notes shall be exempt, both as to principal and interst, from all taxa
tion (except estate or inheritance taxes, or gift taxes) now or hereafter Imposed by
the United States, any State, or any of the possessions of the United States, or by
any local taxing authority*
3»
The notes will be accepted at par during such time and under such rules and
regulations as shall be prescribed or approved by the Secretary of the Treasury in
-
2-
payment of income and profits taxes payable at the maturity of the notes.
4.
The notes will he acceptable to secure deposits of public moneys, but will
not bear the circulation privilege.
5.
Bearer notes with interest coupons attached will be issued in denominations
of $100, $500, $1,000, $5,000, $10,000 and $100,000.
The notes will not be issued in
registered form.
III.
1.
SUBSCRIPTION AND ALLOTMENT
Subscriptions will be received at the Federal Reserve banks and branches and
at the Treasury Department, Washington,
Banking institutions generally will handle
applications for subscribers, but only the Federal Reserve banks and the Treasury
Department are authorized to act as official agencies.
Cash subscriptions from
incorporated banks and trust companies for their own account will be received with
out deposit but will be restricted in eachra.se to an amount n^t exceeding one-half
of the combined capital and surplus of the subscribing bank or trust company.
Cash
subscriptions from all others must be accompanied, if for more than $5,000, by pay
ment of $5,000 or 5 percent of the amount of notes applied for, whichever is the
greater; and, if for $5,000 or less, by payment in full.
The Secretary of the
Treasury reserves the right to close the books as to any or all subscriptions or
classes of subscriptions at any time without notice.
2.
The Secretary of the Treasury reserves the right to reject any subscription,
in whole or in part, to allot less than the amount of notes applied for, to make
allotments in full upon applications for smaller amounts and to make reduced allot
ments upon, or to reject, applications for larger amounts, or to adopt any or all of
said methods or such other methods of all otment and classification of allotments as
shall be deemed by him to be in the public interest; and his action in any or all of
these respect shall be final.
Subject to these reservations, cash subscriptions for
amounts up to and including $ 5 ,0 0 C will be given preferred allotment, and cash
subscriptions for amounts over $5,000 will be allotted on a n 'equal percentage basis »
tut not less than the maximum preferred allotment; and subscriptions in payment of
which Treasury Notes of Series D-1935 are tendered will be allotted in full*
Allotment notices will be sent .ut promptly upon allotment, and the basis of the
allotment will be publicly announced*
IV*
1*
PAYMENT
Payment at par and accrued interest, if any, for notes allotted on cash
subscriptions must be made or completed on or before December 16, 1935, or on later
allotment*
In every case where payment is not so completed, the payment with appli
cation up to 5 percent of the amount of notes applied for shall, upon declaration
made by the Secretary of the Treasury in his discretion, be forfeited to the Unit ed
States.
Any qualified depositary will be permitted to make payment by credit for
notes allotted to it for itself and its customers up to any amount for v/hich it
shall be qualified in excess of existing deposits, when so notified by the Federal
Reserve bank' of its district*
Treasury Notes *of Series D-1935, maturing December
15, 1935, will be accepted at par in payment for any notes subscribed for and
allotted and such payment should be made when the subscription is tendered*
V.
1*
GENERAL PROVISIONS
As fiscal agents of the United States, Federal Reserve banks are authorized
and requested to receive subscriptions, to make allotments on the basis and up to the
amounts indicated by the Secretary of the Treasury to the Federal Reserve banks of
the; respective districts., to issue allotment notices, to receive payment for notes
allotted, to make delivery of notes on full-paid subscriptions allotted, and they
issue interim receipts pending delivery of the definitive notes#
2*
The Secretary of the Treasury may at any time, or from time to time, pres
cribe supplemental or amendatory rules and regulations governing the offering, which
will be communicated promptly to the Federal Reserve banks*
HENRY MORGENIHAU, JR.,
Secretary of the Treasury*
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 3, 1935.
127Z7Sr--- ^
^
Press Service
d v
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts,
of 273-day Treasury bills, dated December 4, 1935, and
maturing September 2, 1986, which were offered on Novem
ber 29, were opened at the Federal Reserve banks on
December 2«
The total amount applied for was $144,970,000, of
idiicb $50,045,000 was accepted. The accepted bids panged
in ppiee from 99.917, e^iivalent to a pate of about 0.109
percent per annum, to 99.899, equivalent to a pate of
about 0.133 percent pep annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99.906 and the average rate is about 0.124 per
cent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,.
Tuesday,-December g, 1955.
12-2-35.'
Press Service
No. 6-32
Secretary of the Treasury Morgenthau announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury bills, dated December 4, 1935,
and maturing September 2, 1936, which were offered on November 29, were opened at
the Federal Reserve banks on December -2,
The total amount applied for was $144,970,00®, of which $50,045,.000 was
accepted. The accepted bids ranged in price from 99,»917
equivalent to a rate of
about 0309 percent per annum, to 99.899, equivalent to a rate of about 0.133per
cent per annum, on a bank disecant basis.'
Only part of the amount bid for at the
latter price was accepted,- The average price of Treasury bills to be issued is
99.966 and the average rate is about 0#124 percent per annum on a bank discount
basis.
ooOoo
m à B tm r
dspanbiemt
Washington
fob h e x ju s s , morning
Brass Service
wmmmm
Tuesday, December 5 , 1935#
i s / s / w ---S e c r e ta r y o f th e T reasu ry liorgenthau announced l a s t n ig h t t h a t th e
s u b s c rip tio n books f o r th e c u r r e n t o f f e r in g o f 8 - 3 / 4 p e rc e n t T reasu ry
Bonds o f 1 9 4 5 -4 7 and o f
1-1/*
p s re e n t T reasu ry n o te s o f S e r i e s C -1940
c lo se d a t th e c lo s e o f b u sin ess Monday» December 8» 1 9 3 5 , f o r th e r e c e i p t
o f cash s u b s c r ip tio n s .
Cash s u b s c rip tio n s f o r e l t h s r is s u e p la ce d in th e m a il b e fo re 12
©• c lo c k m id n ig h t, Monday, December 8 , s i l l be con sid ered a s having been
e n te re d b e fo re th e c lo s e o f th e s u b s c rip tio n books.
The subscription books f o r b o th i s s u e s s i l l rem ain open u n t i l f u r th e r
n o tic e f o r th e r e c e ip t o f s u b s c rip tio n s in payment o f sh ioh T reasu ry B o tes
o f S e r ie s D -1935, m atu rin g December 1 5 , 1 9 3 5 , a r e te n d e re d .
Announcement o f th e amount o f cash s u b s c rip tio n s and th e b a se s o f
allotment w i l l probab ly be made on Thursday, December 5 .
<
TREASURY DEPARTMENT
Washington
POR RELEASE, HOMING NEWSPAPERS,
Tuesday, December 3, 1935«______
12-2-35*
Press Service
¿0* 6-33
Secretary of the Treasury Morgenthau announced last night that the
subscription hooks for the current offering of 2—3/4 percent Treasury Bonds
of 1945—47 and of 1-1/2 percent Treasury Notes of Series C-1940 closed at
the close of business Monday, December 2, 1935, for the receipt of cash
subscriptions*
Cash subscriptions for either issue placed in the mail before
midnight, Monday, December
2
12
o»clock
, will be considered as having been entered
before the close of the subscription books*
The subscription books for both issues will remain open until further
notice for the receipt of subscriptions in payment of which Treasury Notes
of Series D—1935, maturing December 15, 1935, are tendered*
Announcement of the amount of cash subscriptions and the bases of
allotment will probably be made on Thursday, December 5*
ooOoo
grafrlu
Number of individual returns, amount of net income and tax liability, by income classes, based
on returns for the years 1933 and 1934 filed to August 31, 1934, and August 31, 1935, respectively
Net income
classes
(thousands
of dollars)
:
: Number of returns
:
1933
:
1934
:
Under
5
3,339,602
5-10
219,735
10 - 25
74,626
25 - 50
18,168
50 - 100
5,927
100 - 150
1,085
150 - 300
693
300 - 500
139
500 - 1,000
84
1,000 and over
46
Total
3,660,105
:
:
Net income
1933
:
1934
(thousands of dollars)
Tax
1933
:
1934
(thousands of dollars)
3,568,788
288,178
102,488
20,851
6,073
973
684
116
86
32
$6,792,000
1,477,82*
1,096,874.
621,182
394,766
129,276
138,870
53,788.
59,511
81,559.
$7,485,000
1,936,921;.«
1,507,617
705,788/
404,546
116,693
139,
43,832
59,455
56,659
$39,700
34,129
54,256
51,598
56,562
30,450
40,474
17,580
22,370
25,848
$32,500
42,819
83,6©q
84,559
84,474
37,827
57,489
20,854
30,739
31,611
3,988,269
$10,845,654
$12,456,262t
$372,968
$506,481
Treasury Department, Division of Research and Statistics.
34
Secretary of the Treasury Morgenthau today made public prelimM
inary statistics prsipitgod ■**»<»* individual income tax returns for 1934
filed to August 31, 1935; under the supervision of Commissioner of
A
Internal Revenue Guy T. Helvering. These returns numbered 3,988,269,
of which 1,750,843 were taxable and 2,237,426 non-taxable.
As compared
with the number of 1933 returns filed in the corresponding period of
last year, the number of returns increased by 328,164, or 9 per cent.
The total net income shown on the 1934 returns is $12,456,262,491, which
is an increase of $1,610,608,959, or 14.9 per cent, over the amount re
ported on the 1933 returns.
The tax liability reported is $506,481,123,
which represents an increase of $133,513,362, op 35.8 per cent.
The returns for 1954 are tile first filed under the provisions of
the Revenue Act of 1934 and reflect the new normal and surtax rates,
the altered credits allowable, the new definition of capital assets, end
the new limits on 4*»» gains and losses from sales or exchange of such
assets.
The statistics are based on the taxpayers’ returns as filed,
unaudited except for a preliminary examination to insure proper execu
tion of the returns.
In the case of returns showing net incomes of
$100,000 and over the amended figures, however, are included.
number of tentative returns is excluded.
A small
All of the returns filed to
August 31, 1935, showing net incomes of $5,000 and over are tabulated,
while data for individuals reporting net income less than $5,000 are
estimates based on samples of such returns.
The statistics are not strictly comparable with similar statistics
for the previous year because of the varying proportion of the total
number of returns filed in the same interval each year.
However, the
final reports in previous years indicate that such changes are of minor chars
TREASURY DEPARTMENT
Washington
RELEASE, MORNING- NEWSPAPERS,
Friday, Bttcemfrer '6 , 1955,_____
Press Service
Uo. 6-34
for
12- 3- 35 .
Secretary of the Treasury Morgenthau today made public preliminary statistics
|of individual income tax returns for 1934 filed to August 31, 1935, prepared under
the supervision of Commissioner of Internal Revenue Guy T. Helvering,
These returns
numbered 3,988,069, of which 1,750,843 were taxable and 2,237,426 non-taxable.
As compared with the number of 1933 returns filed in the corresponding period of
last year, the number of returns increased by 328,164, or 9 per cent.
The total
net income shown on the 1934 returns is $12,456,262,491, which is an increase of
$1,610,608,959, or 14.9 percent, over the amount reported on the 1933 returns.
The tax liability reported is $506,481,123, which represents an increase of
$133,513,362, or 35.8 percent.
The pax liability is an average rate of 4.07 percent
on the net income reported.
The returns for 1934 are the first filed under the provisions of the Revenue
Act of 1934 .and reflect the new normal and surtax rates, the altered credits allow
able, the new definition of cenital assets, and the new limits on gains and losses
from sales or exchange of such assets.
The statistics are based on the taxpayers1 returns as filed, unaudited except
for a preliminary examination to insure proper execution of the returns.
In the
case of returns showing net incomes of $1 0 0 , 0 0 0 and over the -'mended figures, how
ever, are included,
A small number of tentative returns is excluded.
All of the
returns filed to August 31, 1935, showing net incomes of $5,000 and over are tabula.ted, while data, for individuals reporting net income less than $ 5 , 0 0 0 are estimates
based on samples of such returns.
The statistics are not strictly comparable with similar statistics for the
¡previous year because of the venying proporticnu of the total number of returns filed
jin the same interval ea„ch year.
However, the final reports in previous years
'indicate that such changes are of minor character.
Number of indivi dual returns, amount of net income and tax liability, by income classes, based
on returns for the years 1^33 and 1934 filed to August 3 1 , 1934, and August 3 1 , 1 9 3 5 , respectively
Net income
clas se s
(thousands
of dollars)
Under
:
* Number of returns
:
1934
1933
?
:
5
5 - 1 0
- 25
25 - 50
50 - 1 0 0
100 - 150
150 - 300
300 - 500
500 - 1,000
1 , 0 0 0 and over
10
Total
3.339,602
219,735
74,626
:
;
3,5bs,7ss
2 8 8 ,1 7 S
102,488
is,1 6 s
20,851
5,927
693
6,073
973
684
139
116
s4
46
s6
32
3 ,6 6 0 , 1 0 5
3 ,9 3 3 , 2 6 9
1,085
Net income
1933 :
1931*
(thousands of dollars)
$6,792,000
1,477,S2S
1 ,0 9 6 , 8 7 4
621,1S2
394,766
129,276
138,070
53,788
59,5H
81,559
$ 1 0 ,3 4 5 , 6 5 4
$7,485,000
1,936,921
1,507,617
705,783
4o4,54s
:
'
Tax
1933
:
(thousands
$39,700
34,129
54 ,256
51,598
56,562
30,450
40,474
17,580
1934
8 3 2 ,500
59,455
22,371
56,659
25,843
42,819
83,609
su ,559
84,474
37,827
57,489
20,854
30,739
31,611
$1 2 ,4 5 6 , 2 6 2
$3 7 2 , 9 6 8
$506,481
116,693
139,749
43,832
Treasury Department, Division of Research and Statistics.
IMPORTS OP DISTILLSB LIQUORS AMO M U X S AMO DUTIES COLLECTED TBXEEON
Oeteber* 1 9 3 4 1335, and Ten Mentha Xndiai Oatabap 31* 1>34| 1335
,
t
*
i
October
look
l
f
*
t
Sept caber*
luck
*
t
October
1
Tan Months Ended
Oct* 31, * Oot. 31»
.leak
•
i U I 1111
01 STILLED LIQUORS (Proof Malleus):
Otesk In C u s t o m Dondod Taro< 3»,«
3 ,403,707
3,51«,2(*
4,240,142
4,282,3*0
•74.4*1
4,294,24»
5*2,034
4,072,3*0
<71*730
4,311,340
3*035*145
3,370,105
•13.2*1
*43*3*0
731*337
1*,<13
8,008
5**43*71*
173*310
3,448,473
3*403,707
4,111,315
3,440*473
4,111,51
houses at beginning
Total Inports (Pros and Dutiable)
1,484,270
1,340,23*
1,7**,508
Available for Ceneunptlen
Entared into Censuaptien (a)
1,707,343
1*541,077
110,04$
1,*51,122
1,430,577
3,2* 5,1*5
435,«1
4*188,711
4*624*66
<-■ ) | M 3
1*5.55»
1,234
122,535
2,0*2,771
23*,028
20,083
31,825
2,7««,53!
30,20!
1,425,117
1,484,270
1,805,8*0
1,425,117
1,805,86
2*2,752
331,750
15.71*
278,4*8
275,31*
7 ,0*1
282,377
25,668
20,038
108
i«7
13,175
350,333
31,107
1,747
323,712
103,2*4
248,*52
2*2,752
310,073
*3,«33,340
*3,821,25*
347,535
177*138
*3,032,5*5
205,373
117*642
4,424,*73
3,41*,20*
4,302,*43
28.851**88
26.287.373
2**206#057
279.044.117 217.163ili
♦23,703,505 *30,508,740
14*19*
11.9*
*303,401*5*3 247,333,33
12*2
10*09»
bouses at bosinulng
Total Inporto (Free and Dutiable)
Available for Censtusptien
Entered into Censuaptien (a)
Exported fren Custona Custody
•»<37,»7
3,276,07
5,111,(1
41,54
Steak la Cuetono Bended Tarohouses at end
STILL TIMES (Liquid Oallone)t
Steak in Custons Bonded Taro223,073
*7*»3*J
— — Exported fren Custons Custody
Stook in Custons Bonded Tarohouses at end
1,808*223
SP1RKLIN0 TINES (liquid Oalleas):
Stook In Custons Bonded Taro-
—
housoo at beginning
Total Inports (Pros and Dutiable)
Available for Censuaptien
Entered Into Censuaptien (a)
Exported fren Custons Custody
Steak In Custons Bonded Ware-
DOTIES COLLECTED CM Distilled Liquors
Still Tines
Sparkling Tinea
Total Dutloo Collected on Liquors
235,5*5
185*002
410,37*
1*0,12*
75.2!
501,85
537,07
274,48
12,150
4,51
248**32
318,07
*27,117,315 *25,0*4,05
3,480,57
2,248,257
1.63U25
591*278
30,357,450
30,175,85
Total Duties Collected on Other
Conaodltlos
Total Duties Collected
Per Cent Collected on Liquors
*33,*7*,3*1
13*31*
(a) Including withdrawals for ahip cupplicc and dlplenatie use.
NOTE - Sicckc cn hand have been revised* taking lntc oenelderatlen the exports fren Custona
;ji'On oi-
^
I . ■ •; A l
1RbASURY
■v r:s
Op
and
research
cu slC M S
JfcPART M E N !
OFFICE OF THE COMMISSIONER OF CUSTOMS
Ul-O
1935
TO MR. OAST ON
Acting
FROM THE^COMMISSIONER OF CUSTOMS:
(Through Assistant Secretary Gibbons)
There is transmitted herewith a statement showing imports
of distilled liquors and wines, and duties collected thereon,
covering the month of October, 1934, 1935, and the ten months
period ended October 31, 1934 and 1935.
Inclosure
TREASURY DEPARTMENT
Washington
fOR RELEASE, MORNING NEWSPAPERS,
Press Service
Thursday, December 5, 1935»_____
No. 6-35
IS*-3— 35.
IMPORTS OP DISTILLED LIQUORS AND WINES AND DUTIES COLLECTED THEREON
October, 1934, 1935, and Ten Months Ending 0cipher 31, 1934, 1935
:
Ten Months Ended
:
Oct.
31
: Oct. 31
October : September : October
:
1935
:
1934
:
1934
:
1935
1935
DISTILLED LIQUORS
(Proof Gallons):
Stock in Customs
Bonded Warehouses
4,282,960
638,175
4,240,142
3,510,266
at beginning.... 3,409,787
Total Imports (Eree
8,637,899
5,095,145
671,798
562,094
874,461
and dutiable)...
Available for Con
9,276,074
4,911,940
9,378,105
4,072,360
4,284,248
sumption.......
Entered into Con5,122,613
791,937
5,649,722
649,960
813,281
sumption (a)....
Stock in Customs
Bonded Warehouses
3,448,473
4,111,915
3,409,787
4,111,915
at end....... . • 3,448,473
STILL WINES
(Liquid Gallons): .
Stock in Customs
Bonded Warehouses
435,880
1,766,588
1,541,077
1,940,236
at beginning..... 1,484,270
Total Imports (Pree
1,498,577
4,188,782
122,535
and Dutiable)....
223,073
110,045
Available for Con
4,624,662
2,062,771
3,265,165
1,707,343
sumption........
1,651,122
Entered into Con
2,788,593
1,808,223
236,828
165,558
278,383
sumption (a)....
Stock in Customs
Bonded Warehouses
1,425,117
1,805,860
at end........ .. 1,425,117
1,805,860
1,484,270
SPARKLING WINES
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
331,758
95,222
at beginning....
275,916
325,712
262,752
Total Imports (Pree
103,264
501,855
and Dutiable)....
15,716
7,061
19,175
Available for Con
597,077
428,976
sumption........
282,977
350,933
278,468
Entered into Con
168,126
274,486
31,£07
sumption (a).,.,.
29,668
20,038
Stock in Customs
Bonded Warehouses
... at end
318,079
248,692
318,079
248,692
262,752
DUTIES COLLECTED ON
Distilled Liquors $3,899,940 $3,092,585 $3,821,256 $27,117,915 $25,064,059
3,480,574
Still Wines
2,248,257
205,979
295,585
347,595
1,631,257
991.278
185,802
Sparkling Wines
177,138
117,642
Total Duties Collec__ted on Liquors
$4,424,673 $3,416,206 $4,302,643 $30,357,450 $30,175,890
(a) Including withdrawals for ship supplies and diplomatic use.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE* MORNING NEWSPAPERS,
Wednesday* December 4* 1935»
Press Service
\o^ 3 k>
12 / 8 / 8 8
Secretary of the Treasury Morgenthau announced last night that
the subscription books for the current offering of 2*3/4 percent
Treasury Bonds of 1945*47 and of 1*1/2 percent Treasury Notes of
Series C*1940 will close at the close of business Thursday, Decem
ber 5, 1935, for the receipt of subscriptions in payment of which
Treasury Notes of Series D-1935, maturing December 15, 1935, are
tendered* The subscription books for both issues closed on Monday,
December 2, for the receipt of cash subscriptions*
Exchange subscriptions for either issue, in payment of which
the maturing notes are tendered, if placed in the mail before 12
o'clock midnight, Thursday, December 5, will be considered as
having been entered before the close of the subscription books*
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING- NEWSPAPERS
Wednesday, December 4, 1935,
12-3^35.
Press Service
No. 6-36
Secretary of the Treasury Morgenthau announced last night that the
subscription books for the current offering of 2-3/4 percent Treasury Bonds
of 1945-47 and of l-l/2 percent Treasury Notes of Series C-1940 will close
at the close of business Thursday, December .5, 1935* for the receipt of
subscriptions in payment of which Treasury Notes of Series D-1935, maturing
December 15, 1935* are tendered.
The subscription books for both issues
closed on Monday, December 2, for the receipt of cash subscriotions.
Exchange subscriptions for either issue, in payment of which the
maturing notes are tendered, if placed in the mail before 12 o ’clock midnight,
Thursday, December 5, will be considered as having been entered before the
close of the subscription books.
00O00
OH ¡R ESTO R E D TO SODVE1TGY DÜRING- TH E MONTH OS’
_____________ NOVEMBER 1 915 ______________________
R e c e iv e r s h ip s :
A shland N atio n al Bank, A shland, Ky. l/
f i r s t N atio aaal Bank, Oakland, N ebr.
f i r s t N a tio n a l Bank in A sh ton , Iowa
Hamilton County N a tio n a l Bank, C le v e s , Ohio
Woodridge Langdon Savings & Commercial Bank,
W ashington, D, C.
2/
Date o f
fa ilu re :
9- 22-32
9 -1 8 -3 3
1 0 -3 1 -3 3
11- 6-33
9— 14—3U
f i r s t N a tio n a l Bank, B ish op , Texas
The B o ttin e a a N a tio n a l Bank, B o ttin e a u , N. D.
f i r s t N a tio n a l Bank, M id d lep ort, N. Y .
f i r s t N a tio n a l Bank, Randolph, Iowa
f i r s t N a tio n a l Bank, G asp o rt, N. Y .
1G -15-31
6- 23-31
12- 30-31
9- - S -3 1
12- 30-31
farm ers & M erchants N a tio n a l Bank, A l c e s t e r , S .
f i r s t N a tio n a l Bank in L o t t , Terns
Blossom Nat io n a l Bank, Blossom , Texas
f i r s t & Moorhead N atio n a l Bank, Moorhead, Minn.
5 -1 7 -5 7
7- 25-33
3- 17-31
12-2U -28
T o ta l
D isb ars ements
in clu d in g
O ffs e ts A llow ed:
$
P e r Cent
T o ta l
R eturns
to a l l
C r e d ito r s :
P e r Cent
Dividends
P aid
U nsecured
D e p o s ito rs :
505 ,
236,610
IOU.6
IO I .56
1 0 7 .3 1
1 0 7 .7 1 2
9 7 ,9 1 2
5 5 2 , 1U9
105.65
105.02
108.78
106.516
2/
12^,768
188 , U60
U03.9U7
6 2 ,7 7 ^
1 S 3 .3 5 3
2/
8 2 .6 5
5^.79
76 . U2
88.85
2/
72.
2 7 .9 3
63.22
8 6 .5
7 8 .2 7
6 2 .5 7
71M
5 5 ,8 2 2
80.93
S3 .7 6
76.
1 , 520,830
7 3 .2 6
350,395
162,407
7 5 .5 9
6 8 .9 5
63.38
1/
R e ce iv e r ap p o in ted to le v y and c o l l e c t s to c k assessm en t co v e rin g d e f ic ie n c y in v alu e of a s s e t s
s o ld , o r to com plete u n fin ish e d liq u id a t i o n .
2/
R esto red to s o lv e n c y .
BO.93 per cent of total liabilities.
Unsecured depositors received divi«r
dends amounting to 77.4-6 per cent of their claims.
The First National Bank in Lott, Texas, in receivership July 2 5
,
1933;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $162,4.07, which represented 83.76 per cent of total liabilities.
Unsecured depositors received dividends amounting to 75*59 per cent of their
claims.
-3-
cent of their claims*
The First National Bank of Middlepart, New York, in receivership
December 30, 1931; disbursements, including offsets allowed, to depositors
and other creditors aggregated $403,947, which represented 76*42 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 63*22 per cent of their claims.
The First National Bank of Gasport, New York, in receivership
December 30, 1931; disbursements, including offsets allowed, to depositors
and other creditors aggregated $183,353, which represented 78.27 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 62.$7 per cent of their claims.
The First & Moorhead National Bank of Moorhead, Minnesota, in receiver
ship December 24, 1928; disbursements, including offsets allowed, to de
positors and other creditors aggregated $1,520,830, which represented
73.26 per cent of total liabilities.
Unsecured depositors received divi
dends amounting to 63.38 per cent of their claims.
The Blossom National Bank of Blossom, Texas, in receivership March 17,
1931; disbursements, including offsets allowed, to depositors and other
creditors aggregated $55,822, which represented 76*44 Per cent of total
liabilities.
Unsecured depositors received dividends amounting to 68.95 Per
cent of their claims.
The Farmers & Merchants National Bank of Alcester, South Dakota, in
receivership May 17, 1927; disbursements, including offsets allowed, to de
positors and other creditors aggregated $350,395, which represented
-
2-
The First National Bank of Oakland, Nebraska, in receivership
September IS, 1933; depositors and other creditors were paid 100 per cent
principal with interest in full amounting to an additional dividend of
7.712 per cent.
Total payments to creditors, including offsets allowed,
aggregated #236,610 and the stockholders received #8,216 together with
the assets remaining uncollected.
The Hamilton County National Bank of Cleves, Ohio, in receivership
November 6, 1933; depositors and other creditors were paid 100 per cent
principal with interest in full amounting to an additional dividend of
6.516 per cent.
Total payments to creditors, including offsets allowed,
aggregated #552,149 and the stockholders received #5,118 together with
the assets remaining uncollected.
The First National Bank of Bishop, Texas, in receivership October 15,
1931* disbursements, including offsets allowed, to depositors and other
creditors aggregated #124,768, which represented 82.65 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 72 per
cent of their claims.
The Bottineau National Bank of Bottineau, North Dakota, in receiver
ship June 23, 1931; disbursements, including offsets allowed, to depositors
and other creditors aggregated #188,460, which represented 54*79 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 27.93 per cent of their claims.
The First National Bank of Randolph, Iowa, in receivership September 8,
1931; disbursements, including offsets allowed, to depositors and other
creditors aggregated #62,774, which represented 88.85 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 86.5 Per
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
AA C .
Press Service
i
f
' 3
-]
The Comptroller of the Currency, J.F.T. O ’Connor, today announced the com
pletion of the liquidation of 13 receiverships and the restoration of one re
ceivership to solvency during November, 1935, making a total of 173 receiver
ships finally closed or restored to solvency since his last Annual Report to
Congress dated October 31, 1934-
Total disbursements, including offsets allowed,
to depositors and other creditors of these 173 institutions, exclusive of the
12 restored to solvency, aggregated $4-3,967,785, or an average return of 72.74
per cent of total liabilities, while unsecured depositors received dividends
amounting to an average of 60.12 per cent of their claims.
The Woodridge-Langdon Savings & Commercial Bank of Washington, D. C., in
receivership April 9, 1934.; restored to solvency November 11, 1935, all cred
itors having been paid 100 per cent principal.
The Ashland National Bank of Ashland, Kentucky, in receivership Sept
ember 22, 1932, the liabilities of the institution having theretofore been
assumed by another bank.
The Receiver was appointed for the purpose of collect-!
ing an assessment against the stockholders to cover a deficiency in the assets :
sold.
The creditor bank, from dividends and other sources, received 100 per
cent together with interest in full amounting to 7.31 per cent.
Disbursements
during receivership, including offsets allowed, aggregated $505,942 and the
stockholders received $27,203 together with the assets remaining uncollected.
The First National Bank in Ashton, Iowa, in receivership October 31,
1933; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 8.78 per cent.
Total
payments to creditors, including offsets allowed, aggregated $97,912 and the
stockholders received $4,367 together with the assets remaining uncollected.
TREASURY DEPARTMENT
Washington
POH RELEASE, MORNING NEWSPAPERS:,
Monday. December 9, 1955«_______
12-4-35..
Press Service
No. 6-37
The Comptroller of the Currency* J.E.T. 0 TConnor, today announced the comple
tion bf the liquidation of 13 receivershius and the restoration of one receivership
to solvency during November, 1935, making a total of 173 receiverships finally
closed or restored to polvency since his last Annual. Report to Congress dated
October 31, 1934»
Total disbursements, including offsets allowed, to depositors
and other creditors of these 173 institutions, exclusive of the 12 restored to sol
vency, aggregated $43,967,785, or an average return of 72.74 percent of total
liabilities, while unsecured depositors received dividends amounting to an average
of 60,12 percent of their claims.
The Woodridge-Langdon Savings & Commercial Bank of Washington, D.C., in recei
vership April 9, 1934; restored to solvency November 11, 1935, all creditors having
been paid 100 percent principal.
The Ashland National Bank of Ashland, Kentucky, in receivership September 22,
1932, the liabilities of the institution having theretofore been assumed by another
bank.
The Receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
The creditor
bank, from dividends and other sources, received 100 percent together with interest
in full amounting to 7.31 percent.
Disbursements during receivership, including
offsets allowed, aggregated $505,942 and the stockholders received $27,203 together
with the assets remaining uncollected.
The Eirst National Bank in Ashton, Iowa., in receivership October 31, 1933;
depositors and other creditors were paid 100 percent principal with interest in full
amounting to an additional dividend of 8*78 percent*
Total payments to creditors,
including offsets allowed, aggregated $97,912 amd the stockholders received $4,367
together with the assets remaining uncollected,.
The First National Bank of Oekland, Nebraska, in receivership September 18,
1933; depositors and other creditors were paid 100 per cent principal with interest
Iin full amounting to an additional dividend of 7.712 percent.
Total payments to
creditors, including offsets allowed, aggregated $236,610 and the stockholders
received $8,216 together with the assets remaining uncollected.
The Hamilton County National Bank of Cleves, Ohio, in receivership November 6,
1933; depositors and other creditors were paid 100 percent principal with interest
[in full amounting to an additional dividend of 6,516 percent. Total payments to
creditors, including offsets allowed, aggregated $552,149 and the stockholders
'received $5,118 together with the assets remaining uncollected.
The First National Bank of Bishop, Texas, in receivership October 15, 1931;
disbursements, including offsets allowed, to depositors and other creditors
¡aggregated $124,768, which represented 82.65 percent of total liabilities. Unsecured
depositors received dividends amounting to 72 percent of their claims.
The Bottineau National Bank of Bottineau, North Dakota, in receivership June
23, 1931; disbursements, including offsets allowed, to depositors and other creditors aggregated $188,460, which represented 54.79 percent of total liabilities.
Unsecured depositors received dividends amounting to 27.93 percent of their claims.
The First National Bank of Randolph, Iowa, in receivership September 8, 1931;
disbursements, including offsets, allowed, to depositors and other creditors aggrega
ted $62,774, which represented 88.85 percent of total liabilities.
Unsecured
depositors received dividends amounting to 86.5 percent of their claims.
The First National Bank of Middleport, New York, in receivership December 30,
3-931; disbursements, including offsets allowed, to depositors and other creditors
aggregated $403,947, which represented 76,42 percent of total liabilities. Unsecured
depositors received dividends amounting to 63.22 percent of their claims.
The First National Bank of G-asuort, New York-, in receivership December 30, 1931;
p-isbursements, including offsets allowed, to depositors and other creditors aggrega.-
~3~
ted $183,353, which represented 78*27 percent of total liabilities.
Unsecured
depositors received dividends amountingto 62.57 percent of their claims.
The First
& Moorhead
National Bank of Moorhead, Minnesota, in receiversh.ro
December 24, 1928; disbursements, including offsets allowed, to depositors and
other creditors aggregated $1,520,830, which represented 73.26 percent of total
liabilities.
Unsecured depositors received dividends amounting to 63.38 percent of
their claims.
The Blossom National Bank of Blossom, Texan, in receivership March 17, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggrega—
ted $55,822, which represented 76.44 percent of total liabilities.
Unsecured deposi
tors received dividends amounting to 68.95 percent of their claims.
The Farmers
& Merchants
National Bank of Alcester, South Dakota., in receivership
May 17, 1927; disbursements, including offsets allowed, to depositors and other
creditors aggregated $350,395, which represented 80.93 percent of total liabilities.
Unsecured depositors received dividends amounting to 77.46 uercent of their claims.
The First National Bank in Lott, Texas, in receivership July 25, 1933;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $162,407, which represented 83,76 percent of total liabilities. Unsecured
depositors received dividends amounting to 75.59 percent of their claims.
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING- THE MONTH OF
_________________ NOVEMBER 1 9 3 5
Receiverships;
Ashland National Bank, Ashland, Ky. l/
First National Bank, Oakland, Nebr.
First National Bank in Ashton, Iowa
Hamilton County National Bank, Cleves, Ohio
Woodridge Langdon Savings & Commercial Bank,
Washington, D. C.
2/
First National Bank, Bishop, Texas
The Bottineau National Bank, Bottineau, N. D.
First National Bank, Middleport, N. Y.
First National Bank, Randolph, Iowa
First National Bank, G-asport, N. Y.
Farmers & Merchants National Bank, Alcester, S. D.
First National Bank in Lott, Texas
Blossom National Bank, Blossom, Texas
First & Moorhead National Bank, Moorhead, Minn.
Total
Disbursements
including
Offsets Allowed:
Date of
Failure:
9- 22-32
Per Cent
Dividends
Paid
Unsecured
Depositors
5 0 5 , 9U2
104.6
9 -I8 -3 3
2 3 6 ,6 1 0
1 0 1 .5 6
10 -3 1 -3 3
97,9 1 2
5 5 2 , 1U9
1 0 5 .6 5
108.78
1 0 5 .0 2
1 0 6 .5 1 6
n -6 -3 3
g — 1+-3U
$
Per Cent
Total
Returns
to all
Creditors
2/
2/
107.31
1 07.712
2/
1 0 -1 5 -3 1
124,768
8 2 .6 5
72.
6 -2 3 -3 1
188,460
27.93
12 -3 0 -3 1
1+ 0 3,9^ 7
5 4 .7 9
76.42
9— s -3 1
62, n b
8 8 .8 5
8 6 .5
1 2 -3 0 -3 1
123,353
72.27
62.57
SO. 9 3
23.76
76.44
77-46
75-59
68.95
7 3.26
6 3 .3 S
5- 17-27
350,395
7 -2 5 -3 3
1 6 2 ,4 0 7
3 -1 7 -3 1
12- 24-28
55.822
1 . 5 2 0 .S 3 0
u
Receiver appointed to levy and collect stock assessment covering deficiency in value
sold, or to complete unfinished liquidation.
2/
Restored to solvency.
6 3 .2 2
assets
TREASURY DKPARTKOTT
Washington
Press servio©
FOR IMKEBDIiSffi R ELEA SE*
Ihursday. December 5, 1935«
L'3 %
Secretary of the Treasury Morgenthau today announced the subscription figure»
and the bases of allotment for the cash offering of 8-8/4 percent Treasury Bonds
of 1948-47 and of 1-1/8 percent Treasury Botes of Scries 0-1940,
Reports received from the Federal Reserve banks show that subscriptions for
the cash offering of Treasury bonds aggregate over #8,054,000,000.
Subscriptions
in amounts up to and including #8,000 were allotted in full and those in amounts
ovar #8,000 were allotted 88 percent, but not lesa than #8,000 on any one subscript Ion.
For the cash offering of Treasury notes, subscriptions aggregate over
#2,486,000,000.
Cash subscriptions in amounts up to and including #8,000 were
allotted in full and those in «mounts over #5,000 were allotted 19 percent, but
not less than #5*000 on any
one
s u b s c r ip t ion*
The amount of each offering was #4 6 0 ,0 0 0 ,0 0 0 , or thereabouts, for eash, with
a reservation to Increase each offering to the extent that Treasury Botes of
aeries 0-1958, maturing December 16, 1938, are exchanged for the new eeeuritie..
The subscription books for both issues were closed on Monday, Deeember 8, for the
receipt of each subscription«, and will close tonight, December 5, for the
receipt of exchange subscriptions.
Further details as to subscriptions and allotments will he announced when
final reports are received from the Federal Reserve hanks.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, .December-5, 1935#
Press Service'
No. 6-38
Secretary of the Treasury Morgenthau today announced the subscription
figures and the bases of allotment for the cash offering of 2-3/4 percent
Treasury Bonds of 1945-47 and cf 1-1/2 percent Treasury Notes of Series C-1940.
Reports received from the- Federal Reserve banks show that subscriptions for
the cash offering of Treasury bonds aggregate over $2,034,000,000.
Subscriptions
in amounts up to and including $5,000 were allotted in full and those in amounts
over $5,000 were allotted 23 percent, but not less than $5,000 on any one sub
scription.
For the cash offering of Treasury notes, subscriptions aggregate over
$2,486,000,000. . Cash subscriptions in amounts up to and including $5,000 wereallotted in full and those in amounts over $5,000 were-'allotted 19 percent, but
not less than $5,000 on any one subscription*»
The amount of each offering was $450,000,000,. ■or thereabouts, for cash,
with a reservation to increase each offering to the extent that Treasury Notes
of Series D-1935, maturing December 15, 1935, are exchanged for the new
securities.
The subscription books for both issues were closed on Monday, Decem
ber 2, for the receipt of cash subscriptions, and will close tonight, December
5, for the receipt of exchange subscriptions.
Further details as. to subscriptions and allotments will be announced when
final reports are received from the Federal Reserve banks.
ooOoo-
1
Under 5 (e s tim a te d )
Under 5 (e s tim a te d )
5-6i/
5
-
6
20-25
25 - 30
30 - 40
40 - 50
50-60
70 - 80
80 - 90
90 - 100
100 - 150
150 - 200
200 - 250
250 - 300
300 - 400
400 - 500
500 - 750
750 - 1,000
1,000 - 1,500
1,500 - 2,000
2,000 - 3,000
3,000 - 4,000
4,000 - 5,000
5,000 and over
l /
2,230,817
1 ,337,971
6,609
105,521
71,921
47,137
32,489
24,501
18,596
14,669
11,839
9,730
8,292
25,856
13.506
7,947
8,497
4.407
2,474
930
68.3
461
973
361
201
122
77
39
57
29
20
4
6
1
—
1
$4 , 2 3 7 ,0 0 0 ,0 0 0
3,248,000,000
35.865.405
576,418,310
465,044,468
351 ,973,360
275,308,935
28 2 ,510,914
194 ,803,160
168,387,747
147,768,376
131,205,729
120,134,971
4 4 4 ,631,456
3 0 0 ,6 8 5 , 1 0 3
216,9 3 7 ,6 m
2 9 2 ,113,178
196,737,522
1 3 4 ,8 2 2 , 8 5 0
98,685,390
6 9 .535.636
5 7 ,912,765
4 3 ,590,975
116,692,692
6 1 ,776,864
4 4 , 5 4 3 ,0 2 9
3 3 .4 2 9 . 6 3 6
2 6 ,425,109
1 7 ,407,233
3 4 ,345,367
25.109.405
2 3 ,238,035
$365,000,000
307,000,000
2,031,954
48,191,129
36,194,580
26,289,728
19,660,813
1 6 ,165,355
12,995.345
10,885,764
9,242,330
7,969.818
7,067,140
22,067,014
11,698,073
6,810,248
7 ,3®,888
3 ,908,459
2,241,121
1,381,666
859,177
593,099
414.516
875.623
299,253
164,231
98.465
57,361
20,179
45 ,4 7 6
21,246
12,548
2/
4,121
1 5 ,385,365
2/
2/
18,035,892
2/
$1,899
$3 2 ,439,000
$61,000
$32,500,000
8,202,854
7,308,641
6 .095.977
5 ,083,736
4 ,994,709
3 .874,704
3 .397.978
3,021,112
• 2,697,349
2,491,109
9,308,384
6,340,014
4 ,494,772
5 ,775,937
3,786,929
2 ,459,310
1 ,714,320
1,274,366
1,214,873
1,248,343
1,819,208
2,930,609
3,920,246
3 ,355,999
3 ,530,983
3 ,605,53!
3,624,689
3 ,684,538
1 7 ,554,360
17,042,752
!6,426,939
28,988,159
25,086,379
2 0 ,771,732
17,789,M l
14,320,478
1 3 ,395.650
11,094,302
36,197,156
23,123,720
18,247,692
14,558,131
12,094,294
8 ,358,871
1 7 ,259,932
13,166,629
1 2 ,543,552
5,417,727
8,556,984
7,915,185
8,014,345
8,914,955
7,230,703
6,923,961
6,626,643
6,322,0$
6 ,175,707
26,942,744
23,382,766
20,921,711
34,764,096
28,873,308
23,231,042
19,503,4.01
1 5 ,594,844
14.360.122
11.784.123
37,026,680
23,861,392
18,784478
14,843,071
12.331.034
8,522,792
1 7 ,429,535
13,309 4 7 3
12,614,120
8,473
9 ,4 8 1
10475
11,479
12481
13,484
14,488
17,196
22,263
27,298
34,378
44,642
54,495
64,711
74,769
84,791
9 4,557
119.930
171,127
221,607
274,013
343,183
446,339
602,550
865,841
1,161,901
8,615,770
0 ,27
8.642.034
2 ,564,227
984,472
689,821
1,629,524
737,672
536,786
284,940
236,740
163,921
169,603
142,844
70,568
21
26,264
2/
Qq
ll8
74 0 7
i/
4,000
60,622
10,294,427
10,355,049
2/
2/
3 ,005,982
il
2/
If
2/
1.00
2,427
246
1.63
1.84
2.25
2.91
369
3.84
388
472
559
649
744
1,042
1,731
2,632
4,091
6,551
9 ,390
12,709
16,768
21,025
25,562
38,876
66,098
93,455
121,664
160,143
218,533
305,781
458,947
630,706
3.71
Ï1
4.11
4 .4 8
4.82
5*14
6.06
7.78
9.64
11.90
14.68
17.23
19.76
22.43
24.80
27.03
3 2 .4 2
38.63
4 2 .1 7
44.40
46.66
48.96
50.75
53.01
54.$
,2/
2/
2/
1 ,440,339
56.17
1 ,725:841
57.41
2/
T o t a l 1 9 3 4 r e tu r n s f i l e d
to A u gu st 3 1 , 1935
3 ,988,269
12,456,262,491
927,638,720
124,555,038
3 8 5 ,926,085
506,481,123
3,123
126
4.07
T o t a l 1 9 3 3 r e tu r n s f i l e d
to A u gu st 3 1 , 1934
3 ,6 6 0 , 1 0 5
10,845,653,532
-
165,039.516
2 4 1 ,3 4 5 , 2 2 5
3 7 2 ,9 6 7 , 7 6 1
2,963
101
3.44
l / N o n ta x a b le .
S p e c i f i c exem ptions ex cee d n e t
income.
^
normal t a x 311(1 s u r ta x ; f o r 1 9 3 3 » s'™ o f normal t a x ,
12 U p e rc e n t t a x c r e d i t on c a p i t a l n e t l o s s .
3 / C l a s s e s grouped to c o n c e a l i d e n t i t y o f t a x p a y e r s .
s u r ta x , and 1 2 § p e rc e n t on c a p i t a l n e t g a in minus
Ae~& J 3L *% JL
I
Û
zlc ,9
f\
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y'
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w
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f
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A
*
*
*
'
y y w ^
%
< / < * -
I I I
- f(jL 4 - d
*
pX-P
%
V
\ á L ^ * S '
Q X - ^ Ä X
x k
^
°
0
CAA 6 * ^
'•f ° J
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-
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y
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_
ui
TREASURY DEPARTMENTWashington
POR RELEASE, MORNING PAPERS,
Monday, December 9, 1935«
12-6-35.
Press Service
^-39
Commissioner of Internal Revenue Guy T. Helvering today made public
additional data from the Preliminary Statistics of Income for 1934, to be
published in complete form later.
The data made public today consists
of s tabulation of individual returns by net income classes.
The returns
are those for the calendar year 1934 filed up to August 31, 1935*
*•
r
Individual returns for 1934
ne^ income classes, showing
of returns, net income, earned income credit, normal tax,
surtax, end total tax; average net income, tax and rat^'ie*:? 'tax on net income; also summary for preceding years
m
(p.eturns filed to'August 3 1 , 1935 )
Net income classes
thousands of dollars;
Under 5 (estimated) 1j
Under 5 (estimated)
5
5
6
7
7
8
9
9
10
11
8
10
11
12
13
14
15
20
12
13
14
15
20
25
30
30
40
40
5°
60
5°
60
10
70 - 80
80 - 90
90 - 100
100 - 150
150 - 200
200 - 250
250 - 300
300 - 400
400 - 500
500 - 750
750 - 1,000
1.000 - 1,500
1,500 - 2,000
2.000 - 3,000
3.000 - 4,000
4.000 - 5,000
5.000 and over
Classes grouped 3/
25
dumber
of
returns
2,230,817
i,3 3 7 ,97i
6,609
105,521
71,521
47,137
32,489
24,501
18,596
14,669
11,839
9,730
8,292
25,856
13,506
947
4,407
2,474
1,525
930
68.3
461
973
361
201
122
77
39
57
yet
income
. ---,—
Earned
income
credit
,
$4,237,000,000
3,248,000,000
$365,000,000
307,000,000
3 5 ,865,405
576,418,310
465,044,468
351 ,973,380
27^ 308 835
2,031,954
48,191,129
36,194,580
26,289,728
19,660,813
16,165,355
1 2 ,995,345
10,885,764
9,242,330
7,969,818
7,067,140
22,067,014
11,698,073
6,810,248
7,368,888
3 ,308,459
2,241,121
1 ,381,666
859,177
593,099
414,516
875,623
299,253
164,231
98,465
57,361
20,179
4 5,476
232,310,914
194,803,io0
168,387,747
147,768,378
131,205,729
120,134,971
444,631,456
300,685,103
216,937,614
292,113,178
196,737,522
134,822,850
98,685,790
69,535,636
57,912,765
43 »5 9 ° ,975
116,692,692
61,776,864
44,543,029
33,429,636
26,425,109
17,407,233
3 4 ,345,367
formal
J® ■
■
$32,435,000
I ,202,854
" ,308, 4di
■6 ,095,577
:!i,083,776
A374,7o4
3 ,397,578
8,021,112
2 ,697,349
» ^fi .169
. 0 8 8 ,38 4
p ,340 ,014
I?,494,772
C 7751937
3 ,786,929
8,459,310
4,714,320
1,274,166
1 964,472
^ 4.4689,0-21
1,629,524
3 737,672
4 536,786
1 284,940
; 236,740
1 163,921
169,603
Sur true
$61,000
Total
tax 2/
$32,500,000
5 ,417,727
8,556,984
I,
819,2087,915,185
2,930,609
8,014,345
3 ,920,246
6,914,955
7,230,703
3 ,355,999
6,928,961
3 ,530,983
3,605,531
6,626,643
6,722,038
3,624,689
1 214 877
1¡ Î M 343
7 »GÊÂ
J)
■jC'iJ- pPg
17,554,360
17,042,752
16,426,939
28,98^,159
25,086,379
20,771,732
17,789,141
14,320,478
13,395,650
II,094,302
36,197,156
23,123,720
18,247,692
14,558,131
12,094,294
8,358,871
17,259,932
,166,629
6*175,707
2 6 ,942,744
23,382,766
20,921,711
34,764,096
28,873,308
23, 231,042
19,503,401
!5,594,844
14.360.122
11.784.123
37,826,680
23,861,392
18,784,478
14,843,071
1 2 ,331.034
8,522,792
1 7 ,429,535
1 3 ,309,473
:
:
Average per return
: Bate of tax
let
; Tax
:on net income
income
; (percent)
$1,899
2,427
5,426
5,462
6,466
7467
I2 4
89
118
167
246
8,473
9.481
39
10,475
n ,479
388
472
12.481
13,484
14,488
1 7 ,196
22,263
27,298
3 4 ,3 /8
44,642
54,495
559
649
744
1,042
i , 73i
64,7h
74,769
84,791
94 ,5 5 7
1 1 9 ,930
171,127
221,607
274,013
343 !183
446,339
602,550
865,841
2,564,227
1.00
1.63
1.84
2.25
2.91
3.84
3.71
4.11
4.48
4.82
5«u
2,632
4,091
6.06
7.78
9.64
H.90
6,951
14.68
9.390
12,789
17-23
19.76
22.^3
24.8O
16,768
21,025
25,562
38,876
66,098
93,455
12 1,6b4
160, izj-3
218,533
305,781
458,947
630,706
27.03
32.42
38.63
42.17
4 4 .4 O
46.66
48.96
50.75
53.01
54.28
2/
56.17
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
December 9, 1935.
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFPICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended December 6, 1935:
Philadelphia*.
....... .........
San Francisco..................... ..
Denver.... ..................... .
Total for week ended December 6, 1935..
Total receipts through December 6, 1935
161,660.00 fine ounces
568,593,96
«
'•
____18,141.89
”
”
748,395.85
»
»
56,943,000.00
,r ’■
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended December 6, 1935.
Philadelphia........................
New York............................
San Francisco.... ...... ...........
Denver.......................... .
New Orleans................ ...... ..
Seattle.......................
Total for week ended December 6, 1935..
Total receipts through December 6, 1935
1,680.00 fine ounces
it
373.25
"
n
109.00
«
it
416.54
«
tt
3Q8.06
"
tt
________254.52
"
tr
3,141.37
'»
tt
113,030,905,21
«
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended December 6, 1935:
Philadelphia................
New York...... ..............
San Francisco............... .
D e n v e r .........
New Orleans,...... ...........
oeat tie................ .
Total for week ended December 6,
New
Domestic
Imports______Secondary
564,27
24,071.71 $171,610.64 $
$
71,500.00
114,650,900.00 192,800.00
658,918.51
60,250.38 1,199,648.75
32,519.07
29,054.10
672,488.72
-------36,309.23
212.12
640.652.23
-------15,912.23
$115,366,409.29 $505,936.58 $2,585,066.09
COLD RECEIVED BY FEDERAL RESERVE BANKS AND TEE TREASURER’S OFFICE:
(Under Secretary*s Order of December 28, 1933)
G-old Certificates
142, 220,,00
$
100, 377, 390,,00
$100, 519, 610,
Received by Treasurer’s Office:
Week ended December 4*......... $ - - ~ - - Received previously.......
266,256;00
Total to December 4 ......... ...$
266,256,00
$
ROTE:
Gold bars deposited with the New York Assay Office
in the amount of $200,572,69 previously reported;
o
o
Received by Federal Reserve Banks:
Gold Coin
Week ended December 4 .......... $
40,937.78
Received previously,.... ....... 30,956,177.35
Total to December 4.............$30,997,115*13
$
4, 900.,00
2, 305, 100,,00
2,310,000.00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December IQ, 1935«
12/9/86
Press Service
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $80,000,000, or thereabouts,
of 273-day Treasury bills, dated December 11, 1986, and
maturing September 9, 1936, which were offered on Decem
ber 6, were opened at the Federal Reserve banks on Decem
ber 9.
The total amount applied for was $239,295,000, of which
$50,000,000 was accepted. The accepted bids ranged in price
from 99.920, equivalent to a rate of about 0.105 percent per
annum, to 99.914, equivalent to a rate of about 0.113 per
cent per annum, on a bank discount basis. Only part of the
amount bid for at the latter price was accepted. The
average price of Treasury bills to be issued is 99.918 and
the average rate is about 0.108 percent per annum on a
bank discount basis.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORN INS PAPERS
Tuesday, December 10, 1935»
12-9-35.
Press Service
No. 6-40
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $50,000,000, or thereabouts, of 273-day Treasury
bills, dated December 11, 1935, and maturing September 9, 1936,
which were offered on December 6, were opened at the Federal
Reserve banks on December 9..
The total amount applied for was $239,295,000, of which
$50,000,000 was accepted.
The accepted bids ranged in price
from 99.920, equivalent to a rate of about 0.105 percent per
annum, to 99.914, equivalent to a rate of about 0.113 percent
per annum, on a, bank discount basis.
Only part of the amount
bid for atthe le.tter price was accepted.
The average price of
Treasury bills to be issued is 99.918 and the average ra.te is
about 0.108 percent per annum on a bank discount basis.
ooOoo
TREASURY
WASHINGTON
FOR IMMEDIATE RELEASE,
Tuesday, December 1 0 , 1 9 3 6 «
P r e s s S e rv ice
S e c r e ta r y o f t h e T reasu ry Morgenthau to d ay announced th e f i n a l s u b s c rip tio n and
a llo tm e n t f ig u r e s w ith r e s p e c t t o th e c u rre n t o f f e r in g o f 2 - 3 / 4 p e rc e n t T reasu ry Rond
o f 1 9 4 5 -4 7 and 1 - 1 / 8 p e rce n t T reasu ry R o tes o f S e r i e s 0 -1 9 4 0 ,
S u b scrip tio n s and a llo tm e n ts were d ivided among th e s e v e ra l F e d e ra l Reserve dis
t r i c t s ahd th e T reasu ry a s f o llo w s :
2 - 3 / 4 PERCENT TREASURY BONDS OF 1 9 4 5 -4 7
A
J f
F e d e ra l R eserve
D is tric t
T o ta l Cash
S u b sc rip tio n s
R eceived
■M.
Boston
New York
P h ila d e lp h ia
Cleveland
Richmond
A tla n ta
Chioago
S t . Lou is
M inneapolis
Kansas C ity
D a lla s
San F r a n c is c o
T reasu ry
TOTAL
,
$ 5 ,0 4 7 ,6 0 0
1 4 1 ,7 5 5 ,9 0 0
1 0 0 ,6 5 7 ,3 0 0
9 9 9 ,9 8 7 ,8 5 0
2 ,6 7 0 ,5 0 0
9 6 ,1 8 8 ,3 0 0 '£>1
1 ,5 0 9 ,0 0 0
8 6 ,3 5 7 ,6 5 0
3 ,0 6 2 ,4 0 0
6 9 ,3 4 2 ,9 0 0
7 6 2 ,5 0 0
8 2 ,7 8 8 ,5 0 0
3 9 ,9 5 0 ,1 0 0
1 9 8 ,7 8 7 ,5 6 0
1 ,9 6 2 ,3 0 0
5 7 ,8 8 0 ,0 0 0
9 5 0 ,0 0 0
1 9 ,4 2 4 ,9 0 0
3 ,3 2 7 ,5 0 0
4 3 ,1 6 1 ,1 5 0
7 4 4 ,5 0 0
5 6 ,8 6 7 ,9 0 0
6 5 6 ,0 0 0
1 8 8 ,4 3 4 ,1 0 0
1 1 8 .0 0 0
6 6 3 ,0 0 0
*
1
6
1
,3
1 7 ,7 0 0
$ 2 ,0 3 4 ,9 ^ 7 9 ,7 0 0
|
T o ta l
S u b scrip tion s
A llo tte d
T o ta l
S u b scrip tlo n e
R eceived
T o ta l Exchange
S u b sc rip tio n s
R eceived
(A llo tte d in f u l l )
i1
1 4 6 ,8 0 3 ,5 0 0
1 ,1 0 0 ,6 4 5 ,1 5 0
9 8 ,7 3 8 ,8 0 0
8 7 ,8 6 6 ,6 5 0
7 2 ,4 0 5 ,3 0 0
8 3 ,4 9 1 ,0 0 0
2 3 8 ,7 3 7 ,6 5 0
5 9 ,8 4 8 ,3 0 0
2 0 ,3 7 4 ,9 0 0
4 6 ,4 8 8 ,6 5 0
5 7 ,6 1 2 ,4 0 0
1 8 3 ,0 9 0 ,1 0 0
8 0 1 p000
* 2 ,1 9 6 ,2 9 7 ,4 0 0
$
3 8 ,7 2 8 ,0 0 0
3 3 1 ,9 0 1 ,9 0 0
2 6 ,0 6 8 ,4 5 0
8 2 ,9 1 9 ,3 5 0
8 0 ,2 9 6 ,8 0 0
2 0 ,9 3 3 ,0 0 0
8 8 ,2 5 4 ,0 5 0
1 6 ,2 7 0 ,7 5 0
6 ,1 9 0 ,9 0 0
1 4 ,9 4 2 ,1 5 0
1 6 ,5 3 4 ,6 5 0
4 3 ,4 1 0 ,6 0 0
285,500
64Ö ,7367100
$
1 - 1 / 2 PERCENT TREASURY NOTES OF SERIES 0 1 9 4 0
F e d e ra l R eserve
D is tric t
BostonNew York
P h ila d e lp h ia
C leveland
Richmond
A tla n ta
Chicago
S t , Lou is
M inneapolis
Kansas C ity
D allas
San F r a n c is c o
T reasu ry
TOTAL
T o ta l Cash
S u b sc rip tio n s
R eceived
I
1 6 3 ,1 8 5 ,2 0 0
1 ,3 0 8 ,8 8 9 ,3 0 0
1 2 8 ,2 8 8 ,7 0 0
1 5 5 ,7 1 4 ,4 0 0
7 0 ,4 7 3 ,8 0 0
7 1 ,6 6 1 ,3 0 0
2 5 1 ,8 4 3 ,1 0 0
5 4 ,4 4 0 ,1 0 0
2 3 ,5 6 9 ,5 0 0
4 1 ,6 0 1 ,4 0 0
5 0 ,3 2 3 ,2 0 0
1 6 7 ,4 9 1 ,0 0 0
________ 5 1 0 ,0 0 0
$ 2 ,4 8 7 ,8 6 4 ,9 0 0
T o ta l
T o ta l Exchange
S u b scrip tio n s
S u b sc rip tio n s
Received
Received
(A llo tte d in f u l l )
$ 1 1 ,2 0 7 ,4 0 0
1 3 6 ,3 8 4 ,5 0 0
3 ,7 0 8 ,0 0 0
5 .7 9 3 .5 0 0
2 3 ,1 6 2 ,0 0 0
5 .8 3 0 .0 0 0
3 1 ,1 0 7 ,8 0 0
7 ,5 1 2 ,8 0 0
5 .1 9 1 .0 0 0
8 ,4 3 3 ,4 0 0
2 .2 6 8 .5 0 0
6 .6 7 7 .0 0 0
1 6 1 ,0 0 0
$ 2 4 9 ,3 7 0 ,9 0 0
T o ta l
S ub scrip tions
A llo tte d
1 7 4 ,3 9 2 ,6 0 0
1 ,4 4 7 ,1 5 3 ,7 0 0
1 3 1 ,9 3 0 ,7 0 0
1 6 1 .5 0 7 .9 0 0
9 3 .6 3 5 .8 0 0
7 7 ,4 9 1 ,3 0 0
2 8 2 .3 5 0 .9 0 0
6 1 ,9 5 8 ,9 0 0
2 8 ,7 6 0 ,5 0 0
5 0 .0 3 4 .8 0 0
5 8 ,5 8 5 ,7 0 0
1 7 4 ,1 6 8 ,0 0 0
________ 6 7 l» 0 0 0
$
$ 2 ,7 5 6 ,6 3 5 ,8 0 0
$
$
4 3 ,7 8 4 ,6 0 0
3 8 8 ,0 0 7 ,4 0 0
2 8 ,4 1 1 ,4 0 0
3 6 .4 2 4 .7 0 0
3 8 ,2 3 7 ,8 0 0
8 0 .4 0 3 .5 0 0
8 1 .5 3 0 .7 0 0
1 8 ,8 6 6 ,9 0 0
1 0 .3 8 8 .0 0 0
1 7 ,4 5 4 ,1 0 0
1 4 .5 8 2 .5 0 0
3 8 .8 2 2 .0 0 0
261,000
7 3 7 ,1 7 4 ,6 0 0
TREASURY DEPARTMENT
Washington
Press Service
No. 6-41
for i m m e d i a t e r e l e a s e ,
Tuesday, December 10, 193b*
Secretary of the Trea.su.ry Morgenthau today announced the final subscription
and allotment figures with respect to the current offering of 2-3/4 percent Treasury
Bonds of 1945-47 and l-l/2 percent Treasury Notes of Series C-1940.
Subscriptions and allotments were divided among the several Federal Reserve
districts and the Treasury as follows:
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta■
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
total"
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St* Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL
2-5/4 PERCENT TREASURY BONDS OP 1945-47
Total Cash
Total Exchange
Total
Total
Subscriptions
Subscriptions
Subscriptions Subscriptions
Received
Received
Received
Allotted
____________ (Allotted in full) ___ ________________________—
$
141,755,900
999,987,850
96,168,300
86,357,650
69,342,900
82,728,500
198,787,550
57,280,000
19,424,900
43,161,150
56,867,900
182,434,100
683,000
$2,034,979,700
$
5,047,600
100,657,300
2,570,500
1,509,000
3,062,400
762,500
39,950,100
1,962,300
950,000
3,327,500
744,500
656,000
118,000
$161,317,700
$
146,803,500
1,100,645,150
98,738,800
87,866,650
72,405,300
83,491,000
238,737,650
59,242,30©
20,374,900
46,488,650
57,612,400
183,090,100
801,000
$2,196,297,400
1-1/2 PERCENT1 TREASURY NOTES OF
Total Exchange
Total Ca.sh
Subscriptions
Subscriptions
Received
Received
(Allotted in full)
$
163,185,200
1,308,829,200
128,222,700
155,714,400
70,473,800
71,661,300
251,243,100
54,440,100
23,569,500
41,601,400
50,323,200
167,491,000
_______ 510,000
$2,487,264,900
$ 11,207,400
138,324,500
3.708.000
5.793.500
23,162,000
5.830.000
31,107,800
7,512,800
5.191.000
8,433,400
2.262.500
6.677.000
1 6 1 ,0 0 0
$249,370,900
$
SERIES C-1940
Total
Subscriptions
Received
174,392,600
1,447,153,700
131,930,700
161.507.900
93.635.800
77,491,300
282.350.900
61,952,900
28,760,500
50.034.800
52,585,700
174,168,000
671,000
$2,736,635,800
$ 38,728,000
331,901,900
25,068,450
22,919,350
20,296,800
20,933,000
88,254,050
16,270,750
6,190,900
14,942,150
16,534,650
43,410,600
285,500
$645,736,100
Total
Subscriptions
Allotted
$ 43,784,600
388,007,400
28,411,400
36.424.700
38,237,800
20.403.500
81.530.700
18,866,900
10.388.000
17,454,100
14.582.500
38.822.000
261,000
$737,174,600
C o n s titu tio n .
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seal
is
ric h
re p re s e n ts
in
"by t h e
d e s ig n e rs
s y m b o l is m .
an a l l - s e e i n g
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th e
rev erse
in th e
D e i t y an d w i t h
A n n u it C o e p tis
"a llu d e s
to
in te rp o s itio n s
of P r o v i d e n c e ^
of
th e
t r i a n g u l a r gl
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sh o w s o n l y m i n o r ch an ges,
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d i e s * a s t h e b i l l s a r e n u m b ered an d s e a l e d .
z ?
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d is trib u te d
th e
are
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to
banks
x' e d e r a l R e s e r v e
th ro u g h o u t
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th e
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tb ro
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new ^ l b i l l
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Thom as J e f f e r s o n
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and
our
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fa m ilia r I
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i
TREASURY DEPARTMENT
Washington
RELEASE, AFTERNOON NEWSPAPERS,
Thursday, December 12, 1935»_____
for
Press Service
No. 6-42
1 2 -1 1 -3 5
New type $1 silver certificates will he available to the public at most banks
on December 18, Secretary of the Treasury Morgenthau announced today.
The most noticeable change in the new $1 bill is an entirely new design on the
back, which presents both sides of the Great Seal of the United States,
The obverse of the Great Seal is the familiar eagle design with the motto
,rE Pluribus Unum",
The reverse of the Great Seal, presented for the first time on any money, shows
an unfinished pyramid, surmounted by an eye in a triangular glory, and bears two
Latin mottoes.
The motto above
(God) prospered our endeavors'1.
the design is uAnnuit Coeptis", translated as "He
The lower motto is "Novus Ordo Seclorum" and is
translated as "A new order of the ages".
The first
1776, the date
committee on the Great Seal wan formed on the afternoon of July 4,
observed as the Anniversary of the Declaration of Independence, The
committee consisted of Benjamin Pranklin, Thoman Jefferson and John Adams.
The
design, including both sides of the seal, was officially adopted in 1782 by
Fundamental Law, and was later ratified after the adoption of the Constitution.
As explained by the designers the reverse of the seal is rich in symbolism.
Tue eye in the triangular glory represents an all-seeing Deity and with the motto
Annuit Coeptis "alludes to the many signal interpositions of Providence",
The
2pyramid is the symbol of permanence#
It was presented in unfinished condition
to signify the belief of the designers that there was still much work to be done
in the new Republic,
The motto ’’Novus Ordo Sed'orum”, in the words of the
designers, signifies ,fthe beginning of the New American Era1’, Both mottoes are
condensations of excerpts from Virgil’s Aeneid.
The face of the bill shows only minor changes, but its production embodies
a new process.
The signatures of the Secretary of the Treasury and of the
Treasurer of the United States, instead of being printed with other portions of
the design, are over-printed later from steel dies as the bills are numbered
and sealed*
Several million of the new bills are being distributed to banks throughout
the United States, through the Federal Reserve Banks,
0 0 O00
- 3 -
s e r v i c e n e a r ly tw enty y e a rs a g o .. He was a member o f th e s t a f f
o f th e Bureau o f I n t e r n a l Revenue, b e fo re I a tta c h e d him to th e
s t a f f o f th e T reasu ry p rop er because I had le a rn e d something about
h is work.
He i s an e x p e r t in o rg a n iz a tio n and p a r t i c u l a r l y th e
o rg a n iz a tio n and procedure o f Government o f f i c e s . He i s n ot a
p o l i t i c i a n but a c i v i l s e r v ic e m e rit system employee o f th e Govern
ment, a co n sp icu o u sly a b le member o f t h a t f in e body o f c a r e e r men
who a r e th e backbone o f th e F e d e ra l s e r v i c e , whether th ey go by the
t i t l e o f A dm iral, o r G en eral, o r C a p ta in , o r C o lo n e l, o r p la in
M is te r. He has been o f sp len d id a s s i s t a n c e t o th e Commandant and
o th e r o f f i c e r s o f th e C oast Guard in improving t h e i r o rg a n iz a tio n
and th e y re c o g n iz e i t .
I
s h a l l n ot go i n to d e t a i l a s t o th e a d m in is tr a tiv e changes
he recommended, but th e r e i s no reaso n why you should n ot know a l l
about them i f you a r e i n t e r e s t e d . I t i s enough t o say h ere t h a t
th e changes have not been in th e d i r e c t i o n o f dim inishing th e
a u th o r ity o f th e commissioned o f f i c e r s o f th e h ead q u arters s t a f f ,
but t h a t on th e c o n tra ry t h e i r a u th o r ity has been stren g h th en ed .
May I su g g est t h a t you come to h ead q u arters and le a r n more
about th e C oast Guard. I t i s a f in e o r g a n iz a tio n . I am proud o f
i t and o f my co n n ectio n w ith i t and I want i t s m e rits to be known.
S in c e r e ly y o u rs ,
/ s/
H. MORGENTHAU,Jr*
S e c r e ta r y o f th e T re a s u ry .
HEG/mah
r e g io n a l f i e l d d isb u rsin g o f f i c e s o f th e T re a su ry Departm ent.
But th e f a c t i s t h a t th e s e d is b u rsin g o f f i c e s were s e t up by
e x e c u tiv e o rd e r and t h a t th e y d is b u rse p a y r o lls not m erely f o r th e
T reasu ry Department but f o r o th e r departm ents o f th e Government.
T h e ir o f f i c e r s a r e not in any way in a u th o r ity o v er th e C oast Guard
w arran t o f f i c e r pay c le r k s and th e y have not re p la c e d them. The
im portance o f th e d u tie s o f th e w arran t pay c le r k s and t h e i r valu e
t o th e C oast Guard have n ot been dim inished.
But you s a id a l s o t h a t w hile th e C oast Guard was o f f i c i a l l y
a p a r t of th e T reasu ry Department th e Guard in th e p a s t had been
allow ed t o b u ild i t s e l f up and t h a t th e Department had kept hands
o f f in p o lic y m a tte r s . T h a t, I hope you w i l l a g r e e , i s a r a t h e r
lu d icro u s statem en t which r e f l e c t s an undeserved d i s c r e d i t on my
p re d e c e s s o r s . You a ccu se me in e f f e c t o f ta k in g an i n t e r e s t in th e
C oast Guard, and I f e a r I s h a l l have t o p lead g u i l t y .
The C o ast Guard i s an e s s e n t i a l p a r t o f th e la w -e n fo rcin g
a g e n c ie s o f th e T re a su ry , engaged in p r o te c tin g th e N atio n ’ s re v e
n u es, and i t has o th er im p ortan t d u t i e s , in clu d in g th e g r e a t humani
t a r i a n work o f saving l i f e a t s e a . I t must co o p e ra te w ith o th e r
revenue e n fo rcin g a g e n c ie s o f th e T re a su ry Department and I have
sought to make t h a t c o o p e ra tio n even more e f f e c t i v e w ith r e s u l t s
t h a t I th in k I can say in a l l modesty have been g r a t i f y i n g . I have
devoted a g r e a t d e a l o f tim e and a t t e n t i o n t o g e ttin g th e o f f i c e r s
and men of th e C oast Guard b e t t e r equipment w ith which t o work —
b e t t e r s h ip s , b e t t e r a i r p la n e s , improved shore s t a t i o n s . I know
th e y have a p p re c ia te d i t and I would have co n sid ered m yself f a l s e
t o my r e s p o n s i b i l i t y i f I hadn’ t done i t . A lan d lu b b er can be of
some s e r v i c e .
Now l e t me d e a l w ith th e c a s e o f Mr. Edwin R. B a l l in g e r , who
you s a id was given th e ta s k o f re o rg a n iz in g th e C oast Guard and was
p la ce d in th e p o s itio n o f head man o v er th e head of th e Commandant.
Mr. B a llin g e r i s , a s you s t a t e d , a t e c h n ic a l e x p e rt on th e adm inis
t r a t i v e s t a f f o f th e T reasu ry Department and he d id i n v e s ti g a t e the
C o ast Guard and propose some changes i n o rg a n iz a tio n and procedure
which have been put in to e f f e c t . He d id n o t promote h im self in to
a p o s itio n a s head o f th e C oast Guard. He holds no p o s itio n in i t
w h atev er, but has moved on t o perform s im i la r l y v a lu a b le work in
a n o th e r branch o f th e T re a s u ry . You chose t o honor him by speak
in g o f him a s an eye d o c to r . Xf he was t h a t th en t h a t p ro fe s s io n
l o s t a very v a lu a b le man when he chose t o e n te r th e Government
December 6 , 1935
Mr. Boake C a r t e r ,
C/o The Columbia B ro ad castin g System ,
W ashington, D. C.
Dear S i r :
.
Through th e c o u r te s y of th e Columbia B ro ad castin g System I
have r e c e iv e d t r a n s c r i p t s o f p o rtio n s o f your r a d io b ro a d ca sts o f
November 1 9 th and 2 6 th in which r e f e r e n c e i s made t o th e T re a su ry
Department and th e C oast Guard. X r e g r e t t h a t you did not come t o
th e T reasu ry Department or t o any o f th e re s p o n s ib le o f f i c e r s o f
th e C oast Guard f o r In fo rm atio n , f o r I f e e l su re t h a t i f you had
done so you would n o t have given cu rre n cy t o unfounded rumors t h a t
might s e r io u s ly d is tu r b w ithout re a s o n th e m orale o f a v ery f in e
arm of th e Government s e r v i c e .
The su b stan ce o f your ch a rg e s was t h a t e f f o r t s were being
ipade under my d i r e c t i o n t o tran sfo rm th e C oast Guard i n to a
c i v i l i a n o u t f i t and t h a t i t was ( I quote your words) " g ra d u a lly
being f i l t r a t e d by c i v i l i a n s and p o l i t i c a l jo b h o ld e r s ."
I t i s very easy t o d e a l in a few words w ith th e s e s t a t e
m ents. They a r e sim ply n ot t r u e . Whoever gave you t h i s in
fo rm atio n informed you b a d ly . I s h a l l be glad t o make a l l th e
C oast Guard p erson n el r e c o rd s a v a i la b le t o you i f you wish t o
se e them . They w i l l r e v e a l t o you t h a t n o t one c i v i l i a n has
been p la ce d in a p o s itio n o f a u t h o r i ty in th e C oast Guard s in c e
I have been S e c r e ta r y o f th e T reasu ry and t h a t th e r e have been
no a d d itio n s whatever t o th e sm all f o r c e of c i v i l i a n employees
on th e C oast Guard r o l l s . There has n ot been any p o l i t i c a l
appointm ent t o th e C oast Guard nor any p o l i t i c a l appointm ent o f
a c a d e t t o th e C oast Guard Adademy in my term o f s e r v ic e and
th e r e w i l l n o t be any w hile I hold my p re s e n t p o s i ti o n .
I was puzzled by you r r e f e r e n c e to th e pay c l e r k s , who you
s a id have been dropped down a peg and a r e now se rv in g c i v i l i a n
jo b h o ld e rs , u n t i l i t was exp lain ed t o me t h a t you had probably
been given a d i s to r t e d v e rs io n o f th e arrangem ent by which C oast
Guard o f f i c e r s and men a r e now r e c e iv in g t h e i r checks through th e
T R E A S U R Y D E P A R T M EN T
W A S H IN G T O N
TREASURY DEPARTMENT
Washington
FOR IMkbDDTE IîEXjEa s E
December 11, 1955,
Press Service
No.
The following letter by the Secretary of the Treasury to Mr. Boake
Barter, a radio news commentator, was read by Mr* Carter in his regular
broadcast on Tuesday evening, December 10, 1935.
ThSACJR'ï DEPARTMENT
Washington
POE IMMEDIATE RELEASE
Press Service
December 11, 1935.
No. 6 - 4 3
The following letter by the Secretary of the Treasury to Mr. Boake Carter,
a radio news commentator, was read by Mr. Carter in his regular broadcast on
Tuesday evening, December 10, 1935.
December 6, 1935.
Mr. Boake Carter,
c/o The Columbia Broadcasting System,
Washington, D.C.
Dear Sir:
Through the courtesy of the Columbia Broadcasting System I have received
transcripts of portions of your radio broadcasts of November 19th and 26th in
which reference is made to the Treasury Department and the Coast Guard. I regret
that you did not come to the Treasury Department or to any of the responsible
officers of the Coast Guard for information, for I feel sure that if you had
done so you would not have given currency to unfounded rumors that might seriously
disturb without reason the morale of a very fine arm of the Government service.
The substance of your charges wa.s that efforts were being made under my
direction to transform the Coast Guard into &
,civilian outfit and that it was
(I quote your words) Mgradually being filtrated by civilians and political job
holders. n
It is very easy to deal in a few wrords with these statements. They are
simply not true. Whoever gave you this information informed you badly. I shall
be glad to make all the Coast Guard personnel records available to you if you
wish to see them. They will reveal to you that not one civilian has been placed
in a position of authority in the Coast Guard since I have been Secretary of the
Treasury and that there have been no additions whatever to the small force of
civilian employees on the Coa.st Guard rolls. There ha.s not been any political
appointment to the Coast Guard nor any political appointment of a. cadet to the
Coast Guard Academy in my term of service and there will not be any while I hold
my present position.
I was puzzled by your reference to the pay clerks,who you sa,id have been
dropped down a. peg and are now serving civilian jobholders, until it was
explained to me that you had probably been given a distorted version of the
arrangement by which Coast Guard officers and men are now receiving their checks
through the regional field disbursing offices of the Trea.sury Department. But
the £e„ct is that these disbursing offices were set up by executive order and
thrt they disburse payrolls not merely for the Trea.sury Department but for other
apartments of the Government. Their officers are not in any way in authority
over ^the Coast Guard warrant off icer pay clerks and they have not replaced them,
e importance of the duties of the warrant pay clerks and their value to the
Coast Guard have not been diminished.
I
I
I
»
~3~
But you said, also that while the Coast Guard, was officially a part of the
Treasury Department the Guard in the past had Been allowed to build itself up
and that the Department had kept hands off in policy matters. That, I hope you
will agree, is a rather ludicrous statement which reflects an undeserved discredit
on my predecessors. You accuse me in effect of taking an interest in the Coast
Guard, and I fear I shall have to plead guilty.
The Coast Guard is an essential part <pf the law-enforcing agencies of the
I Treasury, engaged in protecting the Nation s revenues, and it has other important
I duties, including the great humanitarian work of saving life at sea. It must
I cooperate with other revenue enforcing agencies of the Treasury Deoartment and I
I have sought to make that cooperation even more effective with results that I
I think I can say in all modesty have been gratifying. I have devoted a. great deal
of time and attention to getting the officers and men of the Coast Guard better
equipment with which to work — > better ships, better airplanes, improved shore
stations. I know they have appreciated it and I would have considered myself
false to my responsibility if I hadn't done it. A landlubber can be of some
service.
Now let me dehl with the case of Mr. Edwin R. Ballinger, who you said was
given the task of reorganizing the Coast Guard and wife planed in the position
of head man over the head of the Commandant. Mr. Ballinger is, a„s you stated,
a technical expert on the administrative staff of the Treasury Department and
he did investigate the Coast Guard and propose some changes in organization and
procedure which have been put into effect. He did not promote himself into a
I position as head of the Coast Guard. He holds no position in it whatever, but
I has moved on to perform similarly valuable work in another branch of the Treasury»
You chose to honor him by speaking of him as an eye doctor. If he was that then
I that profession lost a very valuable man when he chose tc enter the Government
I service nearly twenty years ago. He was a member of the staff of the Bureau of
Internal Revenue, before I attached him to the staff of the Treasury proper
because I had learned something about his work. He is an expert in organization
and particularly the organization and procedure of Government offices. He is not
I 1 politician but a civil service merit system employee of the Government, a
conspicuously able member of that fine body of career men who are the backbone
of the Federal service, whether they go by the title of Admiral, or General, or
Captain, or Colonel, or plain Mister. He has been of splendid assistance to the
Commandant and other officers of the Coast Guard in improving their organization
and they recognize it.
I shall not go into detail as to the administrative changes he recommended,
out there is no reason why you should not know all about them if you are interes
ted. It is enough to say here that the changes have not been in the direction of
diminishing the authority of the commissioned officers of the headquarters staff,
but that on the contrary their authority has been strengthened.
May I suggest that you come tc headquarters and learn more about the Coast
uiard. It is a fine organization. I am proud of it and of my connection with
it and I want its merits to be known.
Sincerely yours,
K. MORGENTHAU, Jr.
Secretary of the Treasury
Page 5
Sculptors Appointed by the Section of Painting & Sculpture, oont*d
Alexander Sambugnac
33 W. 67th S t.
New York City-
Eugenie Shonnard
226 Hickox St#
Santa Fe, New Mexico
The winning sculptors will execute twelve statues, 51 inches in height
in dull finished aluminum for twelve niches in the reception room of the
Postmaster General*s Offices#
The winning painters will execute eight pairs of panels for the elevator
lobbies of the Post Office Department Building#
The appointed painters and sculptors will execute work for other Federal
Buildings, each artist being selected for the specific work to which the
Section of Painting and Sculpture considers his particular abilities best
adapted#
The three panels for the Justice Department will again be placed in
competition
Page 4
¥
Richard Lahey
Palisades, N. Y* :
Sidney ^a-ufinan
c/o The Milch Galleries
108 W. 57th St. N. Y.
Rico Le Brun
3 Washington Sq.
hew York City
W. Vladimir Rouseff
FishCreek
Dear Co., Wise«
Paul Sample
676 La Loma Rd.
Pasadena, Calif.
George Melville Smith
25 Bellevue PI.,
Chicago, 111.
Luis F. Mora
Gaylorsville, Conn.
Ross Moffett
Provincetown, Mass.
Ambrose Patterson
4726 - 15th St.
Seattle, Wash.
Waldo Peirce
Bangor, ^aine
Judson Smith
Woodstòck, N. Y.
hiles Spencer
3 Carver Court
Provineetown, Mass.
Harry Sternberg
333 W. 18th St.
hew York City
Edward 3uk IIIre ich
145 E. 40th St.
hew York City
J. Scott Wil liams
8 West 13th St.
hew York City
The Section then went over the sculpture entries and recommended th
following artists for future appointment:
Edmond R. Amateis
Brewster, h. Y.
Nathaniel Choate
221 E. 60th St.
New York City
Walker S. Hancock
Lanesville
Gloucester, Mass.
Leo Lentelli
51 Vi. 10th St.
New York City
Dan Olney
1812 Jefferson PI.
Washington, D* C.
Arnold Rhonnebeck
1300 Logan St.
Denver, Colorado
Page S
^he following sculptors have been recommended for appointment by
the jury of sculpture:
Gleb Derujinski
39 W. 67th St.
^ew York City
William Mc^ey
14518 Superior Rd.
Cleveland, Ohio
Archibald Gamer
4014|r Edenhurst
Los Angeles, CaUf.
Ruth Nickerson
206 W. 82nd St.
New York City
Romuald Kraus
605 Beach Terrace
Bronx, New York
Brenda Putnam
356 W. 22nd St.
New York City
Conn.
Helene Sardeau
1712 N St. N. W.
Washington, D. C.
Robert Laurent
106 Columbia Hts.
Brooklyn, N. Y.
Albert Stewart
21472 33rd St.
Bayside, L. I., N. Y.
Henry Kreis
Essex,
Wheeler Williams
16 W. 67th St.
New York City
The selection of the winners of the competition and of the invited
artists,by both the jury of painting and the jury of sculpture, completed
the work of the juries*
Thereafter the Section of Painting and Sculpture
again reviewed the models and sketches and on its own initiative added to
the list of painters appointed by the junjf'uhe following painters?
Dewey Albinson
32 Oliver Av©* S.
Minneapolis, Minn.
^
Vincent D ’Agostino
50 W. 8th St.
New York, N # Y.
Arnold Blanch
Woodstock, New York
W. Herbert Dunton
Taos, New Mexico
Byron Ben Boyd
1912 GrandAvenue
Des Moines, Iowa
Jared French
54 Morton St. N. Y.
City
\/
Charles Child
Coppemose, Lumberville
Bucks, Co., Pa.
Xavier Gonzoles
New Comb College
New Orleans, La.
y
^
Page 2
Painters Recommended for Appointment by the Jury of Painters
Kenneth Adams
Taos, New Mexico
Hug Ballin
567 Almoloya Drive
Pacific Palisades
Los Angeles, Calif#
Dunbar Beck
Hadlyme, Connecticut
Ernest L« Blumenschein
Taos., New Mexico
Dean Cornwell
222 W# 59th St«
New York City
Douglass Crockwell
Box 221
Glen Falla, N« Y#
Randall Davey
Canyon Road
Santa Fe, New Mexico
Thonas Donnelly
Box 99
Valhalla, N« Y«
Victor Higgins
Taos, ^ew Mexico
Lowell House
918 Wil son A v enue
Ames, Iowa
Edward Laning
12 E. 17th St«
New York City
Salvatore Lascari
54 W« 74th St«
New York City
Schômer Lichtner
2619 N« Downer Avenue
Milwaukee, Wise#
Ryah Ludins
352 Vi« 18th St*
New York City
Pepino Mangravite
286 Rye Beach Avenue
Nye, New York
Henrik Martin ^ayer
2845 N« Pa« St.
Indianapolis, Ind«
David McCosh
Eugene, O r e gon
Bruce Mitchell
119 W. 3rd St.
New York City
John M. Bitton
457 W. 57th St.
New York City
Francis Robert White
The Little Gallery
Cedar Rapids, Iowa
Lucia Wiley
2655 Irving A e. S.
Minneapolis, Minn*
RELEASE DATE, DECEMBER 14, 1935
COMPLETE LIST OF PAINTERS AND SCULPTORS RECEIVING APPOINTMENTS
BY THE TREASURY DEPARTMENT, SECTION OF PAINTING AND SCULPTURE,
AS A RESULT OF THE COMPETITION FOR THE POST OFFICE AND JUSTICE
DEPARTMENT BUILDINGS, WASHINGTON, D.C.
When the competition for murals and sculpture to be installed in
the Post Office and Justice Department Buildings, in Washington, D. C.,
was initiated on May 3, 1935, by the Treasury Department, Section of Paint
ing and Sculpture, eleven murals and twelve statues represented the total
of possible commissions for the winners#
One hundred and ninety-seven
painters and forty-seven sculptors entered the competition, submitting four
hundred and five mural sketches, and sixty-two sculpture models.
artists submitted as many as ten sketches each.
A few
This was exceptional,
but many submitted more than one.
A jury composed of the following painters, Edward Bruce, Olin Dows,
Leon Kroll, Bancel LaFarge, Jonas Lie, Ernest Peixotto, Henry Schnakenberg
and Eugene Speicher, examined the mural studies and a jury composed of
the following members, William Adams Delano, architect of the Post Office
B u il
ding,Washington,D. C., and Alice Decker, Paul Manship and William
Zorach, sculptors, examined the sculpture models that were entered in the
competition.
Following careful study of all the work submitted the juries selected
the winners announced in our October—November Bulletin, ^6#
When the winners were selected the juries again examined the remaining
work and recommended that the following artists should be invited, because
of the quality of their sketches offered in the competition, to be given
future appointments#
The following painters have accordingly been invited
to design murals for the Governmentj
The s e l e c t i o n
o f th e
in v ite d
an d o f
s c u lp tu re ,
T h e re a fte r
re v ie w e d
o f th e
a rtis ts ,
by th e
c o m p le te d
th e S e c tio n
t h e m o d e l s an d
w in n e rs
ju rie s
th e
c o m p e t it io n
o f p a in tin g
t li e w o rk o f t h e à B
of P a in tin g
s k e tch e s
in itia tiv e
a d d e d t h e n am es o f
fo r
a p p o in tm e n t:
fu tu re
of
an d S c u l p t u r e
and o n i t s
th e
b o d ie s .
fo llo w in g
again
own
a rtis ts
p a in t e r s
(N o . 3 l i s t )
SCULPTORS
(N o . 4 l i s t )
I n b e in g a l i g n e d
b u ild in g s
th e
th e
s p e c ific
an d S c u l p t u r e
b est
a p p o in te d
t o w*ork f o r o t h e r
a rtis ts
w ill be
w o rk t o w h ic h t h e S e c t i o n
s e le c te d
o f P a in tin g
c o n s id e rs h is p a r t i c u l a r a b i l i t i e s
a d a p te d .
##
fo r
^ O
D e sig n a tio n
to
of
e x e c u t e w o rk f o r
o f th e U n ite d
S e c tio n
s e le c te d
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in
had e n te r e d
th e
s c u lp tu re
c o m p e titio n fo r
th e
P ost
O f f i c e and
c o m m is s io n s w e r e t o
b e a w a rd e d f o r
o n l y elevi
and tw e lv e
s ta tu e s
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and 4 7
I n v ie w
in th a t
197 p a in te rs
c o m p e t i t i o n , th e
s u b m i t t i n g 4 0 5 mura
s c u lp to rs jf p re s e n tin g
o f th e
e n t r a n t s who f a i l e d
to
62 m o d e ls .
c h a ra c te r
o f w o rk o f f e r e d
secu re
c o m m i s s i o n s b o t h jur
o f a w a rd reco m m en d ed l i s t s
xk
o f p a in te rs
by
an d s c u l p t o r s .
c o m m is s io n s .
The
L ie ,
fo r
o f muri
D . C.
s k e tch e s
B ru ce,
recen t
sk e tch e s
in W a s h in g to n ,
c o m p e tito rs
fu tu re
i n v a r i o u s par
D e p a r tm e n t B u i l d i n g s
A lth o u g h
m u ra ls
44 p a in te rs
an d S c u l p t u r e .
s ta tu e s
m u ral p a in tin g s
Ju s tic e
and
S t a t e s w as a n n o u n c e d t o d a y b y th e
A ll th o se
of
s c u lp to rs
f e d e r a l b u ild in g s
of P a in tin g
o r m o d e ls
19
^ lin
ju ry
on p a i n t i n g s ,
D ow s, L e o n K r o l l ,
E rn est P e ix o tto ,
S p e ic h e r,
B u ild in g ,
B an cel La B a rg e ,
and A l i c e
Jonas
fo llo w in g p a i n t e r s :
j u r y on s c u l p t u r e ,
W i l l i a m Adams D e l a n o ,
o f Edward
H e n r y S c h n a k e n b e r g an d Eugene
re co m m en d ed t h e
T he
co n s istin g
a rc h ite c t
co n s istin g
o f th e
of
P ost
D e c k e r , P a u l M a n sh ip
end
O ffic e
£
TREASURY DEPARTMENT
Washington
JOB RELEASE, MORNING NEWSPAPERS,
Saturday, December 14. 1935,
12-12-35.
Press Service
No* 6-44
Designation of 19 sculptors and 44 painters to execute work for federal build
ings in various parts of the United States was announced today by the Section of
Painting and Sculpture.
All those selected had entered sketches of murals or models of statues in the
recent competition for mural paintings and sculpture for the Post Office and Justice
Department Buildings in Washington, D.C.
Although commissions were to be awarded
for only 11 murals and 12 statues in that competition, the competitors included 197
painters submitting 405 mural sketches and 47 sculptors presenting 62 models.
In view of the character of work offered by entrants who failed to secure
commissions, both juries of award recommended lists of painters and sculptors for
future commissions.
The jury on paintings, consisting of Edward Bruce, Olin Dows, Leon Kroll,
Bcneel La Fargo, Jonas Lie, Ernest Peixotto, Henry Schnakenberg and Eugene Speicher,
recommended the following painters:
Kenneth Adams
Tsos, New Mexico
HugoBa.ilin
567 Almoloya Drive
Pacific Palisades
Dunbar Beck
Hadlyme, Conn.
Mexico
iTeos,
^ SNew »”
? - ch e ln
Los A ng eles’ c p l i f -
“
Victor Higgins,
Tpos, New Mexico
Douglas Crockwell
Box 221,
Glen Palls, N.Y.
Sflvatore Lascari
54 W, 74th St.,
New York City
Schômer Lichtner
2619 N.Downer Ave,
Milwaukee, Wise.
™
¡Seririk Martin Meyer
f 45 N. p a. St.
^dianapolis, Ind.
David McCosh
Eugene, Oregon
N-ncis Robert White
L ® Bittle Gallery,
1ed?r Rapids, Iowa
Lucia Wiley
2655 Irving Ave. S.
Minneapolis, Minn,
n
Canyon Road,
Saute Pe, N.M.
Lowell House
918 Wilson Ave.
Ames, Iowa.
Ryah Ludins
352 W. 18th St.
New York City
Bruce Mitchell
119 W. 3rd St.,
New York City
Dean Cornwell
222 W, 59th St.,
New York City
Thomas Donnelly
Box 99
Valhalla, N.Y,
Edward Laning
12 E. 17th St.,
New York City
Pepino Mangravite
286 Rye Beach Ave
Rye, New York
John M. Sitton
457 W. 57th St.,
New York City
-2The jury on sculpture, consisting of William Adams Delano, architect of the
Post Office Suilding, end Alice Decker, Paul Man ship and William Zorach, recommended
the following sculptors:
Gleb Deruj inski
39 f. 67th St.
Hew York City
Archibald Garner
4014|- Edenhurst,
Los Angeles, Calif.
Romuald Kraus
605 Beach Terrace,
Bronx, N.Y.
Henry Kreis
Essex, Conn.
Robert Laurent,
106 Columbia Hts,
Brooklyn, N.Y.
William McVey
14518 Superior Road,
Cleveland, Ohio
Ruth Nickerson
206 W. 82nd St.,
New York City
Brenda Putnam
356 W.22nd St,
New York City
Helene Sardeau
1712 N St. N.W.
Washington, D.C.
Albert Stewart
21472~33rd St.,
Bayside, L.I. N.Y.
Wheeler Williams
16 W. 67th St.,
New York City
The selection of the winners of the competition and of the invited artists, by
the juries of painting and of sculpture, completed the work of these bodies, There- .
after the Section of Painting and Sculpture a‘gain reviewed the models and sketches
and on its own initia tive added the names of the following artists fo r future
appointment :
Dewey Alb in son
32 Oliver Ave.S*
Minneapolis, Minn.
Charles Child,
Coppernose, Lumberville,
Bucks Co., Pa.
Xavier G-onz ales
Newcomb College
New Orleans, La.
Waldo Peirce
Bangor, Maine
PAINTERS
Arnold Blanch
Woodstock, N.Y.
Vincent D ’Agostino'
50 W. 8th St.,
New York City
Sidney Laufman
The Milch Galleries,
108 W„ 57th St.,
New Yhrk City
W. Vladimir Rouseff
Eish Creek,
Dear Co., Wise.
George Melville Smith
25 Bellevue Place,
Niles Spencer
Chicago, 111,
3 Carver Court,
Provincetown, Ma.ss,
Edward Buk Ulreich
145 E. 40th St.,
J, Scott Williams
New York City
8 W, 13th Street,
New York City
Byron Ben Boyd
1912 Grand Ave,
Des Moines, Iowa
Jared Erench
54 Morton St*
New York City
W.Herbert Dunton
Taos, New Mexico
Richard Lahey
Palisades,N.Y
Rico LeBrun
3 Washington Sq.
New York City
Luis E. Mora,
Gaylorsville,
Conn.
Ambrose Patterson
4726~15th St.
Seattle, Wash.
Ross Moffett
Provincetown,
Mass,
Paul Sample
676 La Loma Rd.
Pasadena, Calif.
Judsom Smith
Woodstock,
New York
Harry Sternberg
333 W. 18th St.,
New York City
SCULPTORS
Edmond R. Ama.teis
Brewster, N.Y.
Nathaniel Choate
221 E. 60th St.,
Hew York City
Walker S. Hancock
Lanesville,
Gloucester, Ma,ss.
Leo Lentelli
51 W. 10th St.
New York City
Arnold Rhonnebeck
1300 Logan St.
Denver, Colo.
Alexander Sambugnac
33 W. 67th St.
New York City
Eugenie Shonna.rd
226 Hickox St,
Senta. Fe, N.M.
Dan Olney
1812 Jefferson
Place,
Washington,D.C
In being assigned to work for other buildings,the appointed artists will be
selected for the specific work to which the Section of Painting and Sculpture con
siders his particular abilities best adapted.
ooOoo
Page 2.
Hone sdale, Penna•,
Post Office
Walter Gardner, assisted by L. A*D* Montgomery,
is decorating the Post Office at Honesdale, Penna,
Seattle, Wash*,
Marine Hospital
A mural for the Seattle, Washington, Marine Hospital,
is being executed by Kenneth Callahan.
Huntington Park, Calif**
Post Office
Norman Chamberlina has designed and is being
assisted in executing a mural for the Huntington
Park, California, Post Office, by Ivan Bartlett and
Jean Swiggett#
Compton, calif.,
Post Office
This Post Office is being decorated by James
edrnond. In executing his design he is assisted
by Val Costello and Lonald Cecil Totten*
Marine Hospital
Fabric Designs
In a fabric design project, including curtains for
Marine Hospitals, designed and executed by Grace
Latimer Wright, she is being assisted by the
following painters: Nicholas Albino, Jennei E.
Almgren, George Cohen, Lincoln A* C ross, Edith F*
Hooper, Anne Peck, Ethel Swantees, Helene von Boutoma,
Harold Whippo, and Ethel Wilson*
Modesto, Calif*,
Post Office
Tweleve lunettes for the Modesto, California, Post;
Office, designed by Ray Boynton, are being executed
by him with the assistance of Mallette Deane•
RELEASE DATE, DECEMBER 14, 1935
g
WORK RECENTLY lNlTIATBITBr THE
- y
«gRQjggg
The Treasury Relief Art Project, functioning under allocation of
$530,784 from the Works Progress Administration, and administered by the
Treasury Department, Section of Painting and Sculpture, with Olin Dows
as chief of the Project, has recently started the following projects,
among otherst
St# John* s, Oregon,
Post Office
A mural designed by John Ballator is being
executed by, him with the assistance of Louis D.
Bunce and Eric Lamade.
r*
Colorado Springs, Colo.,
Post Office
Assisted by Jenny Magafan and Eldora Lorenzini
Frank Meohau is executing for the Treasury Relief
Art Project a mural for the Post Office in Colorado
Springs, Colorado#
Denver, Colorado,
Post Office
Gladys Caldwell has designed for the Denver,
Colorado, Post Offioe, a work in sculpture which
is being executed by her with the assistance of
Whu Earl Darley and Charles Martin.
New London, Conn.,
Aldis B # Browne has designed a mural for the
Coast Guard Academy Lounge Coast Guard Aeadeny Lounge, New London, Connecticut,
and he is executing it with the assistance of
W. Langdon Kihn, Beatrice Cumming and Robert Calvin.
Louisville, Kentucky
Post Office
Frank Long will have as assistants to help him
execute a mural he has designed for the public
lobty of the Louisville, Kentucky, Post Offioe,
Bert Mullins, Alois E.
and Martha Lauscher.
Chic opee, Mass•,
Post Office
Frederick Brunner is installing four wooden
ventilator grilles, with sculpture reliefs, in
t^e public lobby of the Chicopee, Mass#, Post Office
For State Department
Takeji Matsubara has designed two screens for
the State Department#
Hopkins, Minn.,
Post Office
■Assisted by Henry Holmstrom, John Rolph and T#
Jefferson Warren, David M. Granahan is executing
the murals TSrhich he has designed for the Hopkins,
Minn#, Post Offioe#
TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING- NEWSPAPERS,
Saturday, December 14, 1935»
Press Service
No. 6-45
1 2 -1 2 -3 5 .
The Treasury Relief Art Project, functioning under allocation of $530,784 from
the Works Progress Administration, end administered by the Treasury Department,
Section of Painting and Sculpture, with Olin Dows as chief of the Project, has
recently started the following projects, among others:
St. Johnrs, Oregon,
Post Office
A mural designed by John Ballator is being executed by
him with the assistance of Louis D. Bunce and Eric Lamade.
Colorado Springs, Colo.,
Post Office
Assisted by JennyMagafan and Sldora Lorenzini, Prank
Mechau is executing for the Treasury Relief Art Project
a mural for the Post Office in Colorado Springs, Colo.
Denver, Colorado,
Post Office
Gladys Caldwell has designed for the Denver, Colorado,
Post Office, a work in sculpture which is being executed
by her with the assistance of Wm. Earl Da.rley and Charles
Martin.
New London, Conn.
Aldis B. Browne has designed a mural for the Coast Guard
Coast Guard Academy Lounge) Academy Lounge, New London, Connecticut, and he is
executing it with the assistance of W. Langdon Kihn,
Beatrice Cumming and Robert Calvin.
Louisville, Kentucky
Post Office
Frank Long will have as assistants to help him execute
a, mural he has designed for the public lobby of the
Louisville, Kentucky, Post Office, Bert Mullins, Alois E.
Ulrich and Martha. Lauscher.
Chicopee, Mass.
Post Office
Frederick Brunner is installing four wooden ventilator
grilles, with sculpture reliefs, in the public lobby of
the Chicopee, Mass. Post Office.
Por St^te Department
Takeji Matsubara has designed two screens for the State
Department.
Hopkins, Minn.
Post Office
Assisted by Henry Holmstrom, John Rolph and T. Jefferson
Warren, David M. Granahan is executing the murals which
he ha.s designed for the Hopkins, Minn. Post Office.
Honesdale, Penna,.
Post Office
Walter Gardner, assisted by L.A.D. Montgomery is decora.ting the Post Office at Honesdale, Penna.
Seattle, Wash.
Marine Hospital
A mural for the Seattle, Washington, Marine Hospital,
is being executed by Kenneth Callahan.
fe^l11
~2~
Huntington Perk, Calif.
Post Office
Norman Chamberlain has designed and is "being assisted
in executing a mural for the Huntington perk, Calif.
Post Office by Ivan Bartlett and Jean Swiggett.•
Compton, C a l i f .
Post O f f i c e
This Post Office is being decorated by James Redmond.
In executing his design he is assisted by Val Costello
and Donald Cecil Totten.
Marine Hospital,
fabric Designs
In a fabric design project,, including curtains for
Marine Hospitals, designed and executed by Grace
Latimer Wright, she is being assisted by the following
painters: Nicholas Albino, Jennie E. Almgren, George
Cohen, Lincoln A. Cross. Edith E. Hooper, Anne Peck,
Ethel Swante-s, Helene von Boutome, Harold Whippo,
and Ethel Wilson. •
Modesto, Calif.
Post Office
Twelve lunettes for the Modesto, California, Post
Office, designed by Ray Boynton, are being executed
by him with the assistance of Mellette Deane,
00O00
f e t a l a l l * » * r# ee Ired a t th » f a l t a d S t a te » saints
C ía thousands o f f ia » m m m i
Feriad
i
i
i
i
í SU rer receipt**
Sil*»*
»Silver transferred*
lander
tendon under Inacutir*
{
íProclamation oft Act of ¿one 19#s Fro clean tIon of
t M g 21, 1933«
1934
t Aug, 9, 1984
*
*
1
I
I
1954
«fan* I te Jan. 30
féf* 1 to fob. 38
Na*. 1 te Ma*. 30
97
1,273
1,633
Apr. 1 to Apt* 37
Apr. 37 to iijf 3ft
May 3ft te ¿tai 39
1,769
2,636
1,149
g|
¿«a» 39 to duly 37
July 37 to Aug. a
J$m* 31 to 3#pt. 28
Sept. 38 to Oet. 36
Oct. 36 to No t . 60
Her. 3D to Boo. 38
#*
total
*e
ܧ
*
97
1,373
1,633
-
a*
•
1,769
3,636
1,149
a,966
1,411
i , m
e*
18,000
38,600
**
71,855
19,114
2,066
91,366
59,488
2,211
3,014
2,418
12,900
43,600
37,900
7,099
11,501
1,493
32,310
87,116
41,810
193ft
Boo. 33 to Jan. 35
¿an. 25 to Fob. 23
Fob. 22 to M&r♦ 39
2,678
3,917
3,836
39,000
41,200
24,600
80S
ass
178
42,659
48,48338,614
Mar. 39 to Apr. 36
Apr. 26 to .May 31
¡§§p 31 to «fane 30
3,646
1,660
2,327
i?, a »
11,900
7,700
ut
139
82
30,176
12,689
10,089
.fane 30 to July 36
tfaly 26 to Aug. 30
Aug. 30 to Scot. 37
2,407
4,10ft
3,148
34,400
37,000
87,900
Ü
28
36,842
41,128
41,070
Sept. 27 to Oct. Ü
Oct. 2ft to lor. 29
£©r. 29 to Beo. 6
2 ,9
4,99S
748
88,200
104,300
11,400
14
18
i
89,183
109,010
12,161
66,343
591,800
118,031
781,774
fatal
m
m
4»
freasuxy Department, Dirle!on of Beeearch and. Statistics.
m
December 13, 1936
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE
December 12, 1935.
Press Service
No , 6 — 46
The Secretary of the Treasury today made public the following record
L/~tj
of acquisitions of silver by the Treasury Department by nimthr since
p assag e -ef —trhe' S i l v e r ' Purchase ATTI,
the Executive Proclamation of December 21, 1933.
r
TREASURY DEPARTMENT
Was"lington
1 FOR IMMEDIATE RELEASE,
I Thursday, December 12, 1935.
Press Service
No. 6-46
The Secretary of the Treasury today made public the following
record by month
I of acquisitions of silver by the Treasury Department since the Executive ProclamaI tion of December 21 , 1933.
Total silver receiyed a1; the United State s Mints
(in thousands of fine ounces)
Period
Silver Receipts
under Executive
Proclamation of
Dec. 21, 1933
Silver
purchased under
Act of June 19,
1934
Silver transferred
under Executive
Proclamation of
Aug, 9i 1934
1934
■Jan. 1 to Jan. 30
■Feb. 1 to Eeb. 28
■Mar* 1 to Mar. 30
97
1,273
1,633
-
■Apr, 1 to Apr. 27
■Apr. 27 to May 25
■May 25 to June 29
1,769
2,636
1,149
-
■ June 29 to July 27
■July 27 to Aug. 31
■ Aug. 31 to Sept. 28
2,066
U4Ì1
1,774
18*000
38*600
*71,855
19,114
2,066
91,266
59,488
■ Sept,. 28 to Oct, 26
■Oct, 26 to Nov. 30
|Nov. 30 to Dec. 28
2,211
3,014
2,418
12.900
42,600
37.900
7,099
11,501
1,492
22,210
57,115
41,810
[Dec, 28 to Jan. 25
[Jan, 25 to Eeb* 22
[Feb, 22 to Mar, 29
2,676
3,917
3,836
39,000
41,200
24,600
983
366
178
42,659
45,483
28,614
par. 29 to Apr., 26
Apr, 26 to May 31
May 31 to June 30
2,845
1,560
2,327
17,200
11,000
7,700
131
129
62
20,176
12,689
10,089
[June 30 to July 26
Duly 26 to Aug. 30
Aug. 30 to 3~et. 27
2,407
4,103
3,142
24,400
37,000
.37,900
35
23
28
26,842
41,128
41,070
Sept. 27 to Oct. 25
Oct. 25 to Nov. 29
Dov, 29 to Dec. 6
2,939
4,995
748
86,200
104,200
11,400
14
15
3
89,153
109,210
12,151
-
97
1,273
1,633
-
1,769
2*636
1,149
1935
"'**•-**
Dotal
56,943
591,-800
•*~
113,031
761,774
Release for December 15th, Sunday papers.
«THE LIBERTY LEAGUE AND THE CONSTITUTION«
Address prepared for delivery to
Buffalo Lawyers Club - Buffalo, N.Y.
Saturday evening, December 14, 1935.
By
Robert H. Jackson
Asst. General Counsel, Treasury Department
Special Counsel, Securities & Exchange Commission
Washington, D.C*
Fellow Members of the Buffalo Lawyers Club:
Under the sponsorship of the ”American Liberty League”,
James M. Beck lately lectured the Bar, by radio and by
pamphlet, on ”The Duty of the Lawyer in the Present Crisis”.
His speech was an indiscriminating attack upon the legal
advisers of this Administration, and the duty which he
urged upon all lawyers was, ”We must defeat the sappers and
miners of the New Deal, who are insidiously undermining the
very foundations of the Constitution”.
Is the Constitution in danger and if so from whom?
You will recall that this Administration assumed the
responsibility of government during the complete collapse of
1933, and, with much support from both parties, adopted a
program.
It may be divided roughly into two parts — - one a
program of spending Federal money in an effort to provide
relief and advance recovery; the second, a program of reform
to eliminate, abuses a.s to security issues, holding companies
and the like.
Let us first consider the spending program, not from
the economic or policy viewpoint, but from the viewpoint
of Constitutional limitations.
American business men have denounced the spending in
bitter terms.
They say it threatens solvency, it is wasteful,
political, socialistic, communistic, illegal, not for a Federal
purpose, and outside the proper power of the Federal Government.
Why, then, do the Liberty League lawyers not do something
about it?
If you want to know why these able lawyers can do nothing
more than to talk about illegal spending of Federal tax money,
read the decision of the United States Supreme Court in Massa
chusetts and Frothingham vs. Mellon As Secretary of the Treasury,
reported 262 U.S. 447, decided June 4, 1923*
The Harding Administration passed a nmaternity ActM
which made grants of Federal money to such states as would
yield a portion of their local sovereignty to a Federal Bureau.
The State of Massachusetts and an individual taxpayer joined
in contending that it was an illegal use of the Federal tax
payers money.
The Supreme Court said that its right toheer the plea
of a taxpayer to enjoin a Federal appropriation which resulted
nin taxation for illegal purposes, has never been passed upon
by this Court11.
This same James M. Beck, then Solicitor
General, went into court in this unsettled state of the law, and
on behalf of Secretary Mellon argued that there was no legal
control whatever over appropriations 11even if money raised by
Federal taxes is being misspent”.
The Court heeded his plea
and held it had no power to prevent even an unconstitutional
expenditure of Federal tax money.
Thus Mr. Beck got the
Congress and the Executive departments released from any court
control whatever over use of Federal money.
So serious wan this blow to judicial supremacy that
neutral observers have held it to be the beginning of the
,fTwilight of the Supreme Court11.
If an administra.tion can
-3spend tax money with no constitutional restraint, then the
Executive and legislature can reach almost any desired goal#
The doctrine thatspending money is above the law was a
legacy from the Beck-Daugherty days as legal advisers to an
Administration that is not remembered favorably for its
respect for law,
Ho New Deal lawyer has ever
originated an argument
that was so "undermining" as this Harding-Mellon-Beck doctrine
which makes every dollar
of Federal money above the law so far
as the courts are concerned.
This is the spokesman whom the
Liberty League selects to call us "miners and sappers".
This
is the record in office of the man who, out of office, is
damning the Constitution with a driveling defense against
phantom enemies.
Is his suspicion of all those in office
aut ob iographi cal ?
The Liberty League super-lawyers urge us everyday lawyers
to go to battle at the polls and on the platform.
They modestly
offer to take care of all the law business connected with the
Holy War themselves.
They want you to rally to the cause of their clients
because they say the President is overthrowing or will over
throw constitutional government*
Of course there has been no instance in which the President
has refused to accept and abide by the decision of the Supreme
Court.
Though he expressed some doubt as to economic effects
of one decision, he did not adopt the attitude of Andrew
~4~
Jackson who said, ’’John Marshall has made his decision, now
let him enforce it”. He has not followed Mr. Lincoln who,
as Commander-in-Chief of the Army, against all legal advice,
reversed the Dred Scott decision of the Supreme Court by
Proclamation.
The President did suggest that Congress should not reject
the Guffey Coal Bill because of doubts as to its constitution
ality, however reasonable.
By this suggestion he took the con
stitutional question to the courts —
lawyers take such questions.
that law —
just where Liberty League
Two lower courts have acted on
one has fully sustained it, and the other sustained
all but one feature of it*
The doubt appears to have been at
least reasonable, and why may not a bill be given the benefit
of the doubt as well as a criminal?
The Constitution, as Charles Evans Hughes once said,
”Is what the judges say it is”, and no President has been able
to anticipate decisions of the Court as to Constitutionality
and so avoid all doubtful measures.
The Supreme Court held Mr.
Lincoln’s action illegal in the Milligan case, and his money
policy unconstitutional in the Legal Tender cases.
President
Taft disapproved the Webb-Kenyon Act because he said it was
unconstitutional.
Congress overrode his veto and the Supreme
Court, through Mr. Taft’s own appointee Chief Justice White,
held the law constitutional. The Court has upset, on constitu
tional grounds, three bills signed by Mr. Hoover, seven of those
of Mr. Coolidge, and seven of those which had the Harding signa-
-5ture.
Mr, Beck*s list of ’’miners end sappers" has omitted
some of the most distinguished mimes.
Why did Comrades Beck
and Daugherty, legal advisers to Mr. Harding, allow him to
"mine and sap" seven times, if the limits of constitutionality
are so clear to them?
George Washington wrote to Hamilton in 1791:
"Sir: An act to incorporate the subscribers to the
Bank of the United States is now before me for con
sideration.
"The constitutionality of it is objected to.
It therefore becomes more particularly my duty to
examine the ground on which the objection is built.
As a means of investigation, I have called upon the
Attorney-General of the United States, in whose
line it seems more particularly to be, for his of
ficial examination and opinion. His report is,
that the Constitution does not warrant the act. I
then applied to die Secretary of State for his sen
timents on this subject. These coincide with the
Attorney-General’s; and the reasons for their opin
ions having been, submitted in writing, I now require,
in like manner, yours on the validity and propriety
of the above-recited act; ***»
Washington, without benefit of the ethical guidance of
the Liberty League, went right ahead to form an opinion of his
own on the constitutionality of a statute, and approved a mea
sure as to which very leading lawyers of his day had raised
constituticnal objections.
While these lawyers are urging you to make a feeless
fight on the frontier, under the cover of your advance they are
waging a. fight of their own closer to the commissary department.
They have begun a. campaign to throw the power of the courts between their clients and the Adminis tration at every possible
6—
point*
Whether their views are the result of their retainers
or their retainers the result of their views, it becomes
apparent that if they should admit any New Deal law to be constitutional some of them would have to give up valuable r©*“
tainers*
Their right to publish and urge their mass views is
unquestionable, but their viewrs like my own, are those of ad
vocates, and why try to conceal honorable advoca.cy by simulat
ing judicial disinterestedness?
A leader of big business, Mr. Edward E. Hutton, gave
his associates this advice, nSo, I say, lets gang_upu« Though
it was repudiated, its suggestion was heeded in the ’’gang’*
strategy of the super-lawyers in the struggle of the great
financial interests to use the judicial powers to tie the hands
of the Executive and the Congress*
The processing tax for farm aid was obnoxious to inter
ests which had long had a tariff tax as a. business aid.
The
Supreme Court has said that taxes are "the sole means by which
sovereignties can maintain their existence’1 and that their
nprompt and certain availability is an imperious neea”.
Notwithstanding the long established practice that collec
tion of taxes will not be stopped by injunction, a multiplicity
of actions has been brought and the collection of processing
taxes against all of the bigger concerns of the country well
nigh stopped although no decision has yet been rendered by the
Supreme Court of the United States.
Last month the collection
of processing taxes dropped as against a year ago about 40
million dollars, largely due to these injunctions.
Not since
-7the nWhisky Rebellion” has there been such a widespread con
cert of action to resist a tax law of the United States in
advance of a Supreme Court Decision as to its legality.
Big business dislikes the Public Utility Holding Com
pany Act. But Wendell Willkie, President of the Great Common
wealth and Southern system described the situation that faced
Congress, reported by the Hew York Times of December 4, 1935s
”*Ho radical public ownership advocate hates half
as much as I do the men who have made personal
profit out of their corporate trusteeships, men
who profited from engineering services rendered
to their companies, and who acquired property
only to put it on the books at excessive values.’”
.’’He explained that while he v/as for regulation,
strict regulation, so that we can be freed from
the Insulls and Foshays, so that we can be freed
from the pirate and the raider, he could find no
economic, social or constitutional grounds for
the abolition of holding companies, as contemplated
under the Wheeler-Rayburn Act.”
Congress agreed that the pirate and the raider must go
and provided that on December 1st each public utility holding
company should register with the Federal Government as the first
step of regulation to that end.
Congress faced an admitted
evil, ’’pirates and raiders” preying on an essential industry.
Congress may have written a drastic remedy, but it was not ob
liged to leave the utility bad boys alone on their promise to
spank each other.
A regulatory law was duly enacted by Congress,
signed by the President.
It has never been set aside by the
Supreme Court nor by any circuit court of appeals.
But on
December 1st the big utility groups, guided by the advice of
Liberty League lawyers, almost unanimously refused to obey
the law even in the simple act of registration, although, in
the interests of orderly procedure, the Government offered to
let them register with a full reservation of the right to con
test constitutionality.
I will quote the advice of Roger
Bahson, an opponent of the Act, to his fellow directors of
utility companies:
11 In this crisis a lapse "by us into lawlessness
would do more to degrade and damage the utili
ties than any attack made "by hostile critics.
It would be hailed as proof that some of the
severest charges made against this industry are
perhaps true.
’’Irrespective of the moral questions involved in
registration, we public utility directors would
be playing directly into the hands of Communists,
Socialists and Fascists by flouting the law at
this critical time. How can we expect radical
groups to abide by democratic principles if we
ourselves are to defy the law whenever it suits
our convenience?”
Now let us consider the uses that are being made of the
lower Federal courts in this extraordinary chapter of Liberty
League lawlessness.
A sustained effort is being made to have district courts
render judgments of unconstitutionality in law suits to which
the Government is not a party.
The stockholders action, by
which he asks that his corporation be restrained from complying
with the Act, is brought.
The interests of the stockholder and
the interests of the corporation are, of course, the same, but,
for the purposes of the action, they assume a pretended hostil
ity.
The result is that both sides of the law suit are in the
co n tro l of those opposed to the law, and the Government, whose
acts and laws are "being nullified, is excluded from the case.
Public utility counsel have now invented a refinement
of the process of excluding the government from the decision
of constitutional questions.
Applications are being made to
the Federal District Courts for Hinstructions" and "advice"
to trustees of corporations in reorganization under Section
77B of the Bankruptcy Act.
This procedure was adopted in Baltimore.
The trustees
applied for advice and asserted that the holding company law
was unconstitutional.
A creditor answered and asserted that
the law was constitutional, but strangely enough, the lawyer
who appeared to support the Act, admitted that he had opposed
it before its passage, and had "perhaps reluctantly come to
the conclusion that the Act was constitutional".
The Act
would be likely to be well defended by such a champion.
this was not the end of the farce.
But
Another creditor was
found and induced to sign papers authorizing the eminent coun
sel for the Edison Electrical Institute, to represent him.
This creditor testified at the hearing that he did not under
stand that he was authorizing the New lork lawyer to represent
him, but thought that such lawyer was to represent the company
that he never agreed to pay the lawyer any fee in connection
with the proceeding and had never before seen the lawyer who
appeared for him.
The lawyers appearing for the three groups,
all opposed to the law, conferred, and they drew the pleadings
admitting many facts that would have a controlling influence
in the decision.
Government counsel requested that Court to permit an
adjournment of thirty days so that they might investigate
the facts.
The request was refused*
A few days later, the
decision that the Act was unconstitutional came down*
Is it
any wonder that so conservative a writer as Arthur Krock has
described this case in the New York Times as »The back-door
suit at Baltimore*» Babson*s warning against playing into
the hands of radical groups was not heeded*
A similar petition came before Judge Nields of Wilming
ton, who dismissed it saying:
»Bat where the petition for instructions
challenges the constitutionality of an Act of
Congress and the power and existence of a gov
ernmental commission created thereunder a very
different question is presented* Bar more
than instructions as to the administration of
a trust is asked for* A body created by an
Act of Congress is sought to be destroyed and
stripped of its powers without being a party
to the proceeding and without having its day
in court* Such a course violates accepted
canons of legal procedure»•
After this glimpse of procedure to test constitution
ality, at its worst, let us look at such procedure at its best
Many radical suggestions for limiting review of constitution
ality have been made and are apt to be revived*
It is my feel
ing that the substance of judicial review is much less irritat
ing than the procedure by which we go about it.
Every one of us, by membership in the legal profession
and probably also by conviction, is committed to the mainten—
-
11
-
ance of the judicial branch as the authority which defines
and applies constitutional limitations#
But it is highly
important, if we are to continue to have this power exercised,
that it he exercised with utmost care so that it is orderly
and neutral#
The Supreme Court decides matters of constitutionality
only in private litigation.
The President of the United States,
representing the welfare of 120 million people, cannot ascer
tain what the opinions of this court may he.
However desirous
he may he of keeping within its decisions, he cannot learn
those decisions until some private litigant gets a decision in
a case.
The Supreme Court will answer the constitutional doubts
as to the constitutionality of the gold policy of the Govern
ment for the holder of $13.50 worth of coupons of a railroad,
hut it will not advise or inform the President of the United
States.
Yet legislation and administration cannot await the de
lays of the courts.
gency.
This is particularly true in time of emer
Hot even the most ardent champion of judicial supremacy
would claim that this Administration could helt its policies
dealing with the hanking emergency, unemployment relief, gold
as the basis of our currency, or many other problems, .while
the judicial view was slowly made available through the tedious
and often devious process of private litigation.
It would re
quire, not one dicision, hut a cluster of decisions to settle
the judicial attitude on some of these policies.
Can we adhere to a legal philosophy that denies the
benefit of our judicial department’s wisdom and neutral views
to our policy-making departments, except as they may, after
a lapse of years he revealed piece meal through opinion on
private litigation?
If the highest authority on legal philo
sophy is unable to reveal itself to the Congress or the Execu
tive, can we as lawyers complain if the processes of legisla
tion and administration must go on meanwhile?
The mass attack on statutes, as shown by the processing
tax cases and by the utility cases, changes the essential
nature of the process of judicial review.
Under all former
practice, the laws of Congress took effect unless and until
set aside by the Court,
Under the new Liberty League practice,
the law of Congress is treated as a complete nullity until the
Supreme Court says it can take effect.
The difference, subtly
introduced, in the past year, is fundamental.
The utility in
dustry when it made mass defiance of the laws of the United
States, had one supporting decision by a Federal District
judge, in the famous ’’back door" case.
Condemning such practice
was the decision of another District judge of equal weight.
With no better judicial basis than this, the whole law is nul
lified, and will be for an indefinite time pending a Supreme
Court decision.
This is not orderly government, it is lawless
ness.
The Supreme Court was created by the Constitution, and
has shown a high sense of its responsibility.
Its rule making
- 13 -
power has "been exercised with great foresight and in the inter
ests of orderly procedure, expedition and simplicity.
It is
inconceivable that it would act on a collusive record or deny
the Government an opportunity to present its full case.
Only
here, if anywhere, was it intended that laws of Congress be set
at naught and only here can the power be prudently left.
There is neither present nor historical justification
for scattering jurisdiction to nullify a sovereign act, among
dozens of district courts, each the creature of the Congress
itself.
The rush to choose among these courts and select among
these judges and hurry cases some places and delay them else
where, can only lead to a public belief that known leanings or
local influences have a substantial part in the decision.
Con
flicting opinions lead to nothing but confusion, promote contrversy and all are finally merged in the pronouncement of the
one final Court.
Could we not arrange to get the final word,
without so many preliminary and rather unseemly manouvers?
Could we not, as to acts of Congress, limit their review
to a prompt, direct action by the Supreme Court, in exercise of
its original jurisdiction and governed by its rule-making power?
The Government, in all cases, should be a necessary party, and
wide discretion to consolidate cases should exist.
Preliminary
injunctions or summary halting of the processes of enforcement
should be wholly in the discretion of the Supreme Court
and not
subject to local and irresponsible action.
The American Bar could render a constructive and states
man like service to our judicial system if it would lead the way
- 14 -
to organizing the process of testing constitutionality, and
save it from being discredited by the present conflicts and
confusion.
Democracy is, in the end, all powerful.
This multi
plicity of law suits, deluge of lower court opinions, defiance of
the laws passed by Congress, and long delay in getting the case
to the only court that can determine it, are not looked upon by
anyone, except the lawyers engaged, as very becoming to a demo
cratic institution.
The substance of judicial review might be
impaired by disgust with its procedure.
The Liberty League appeal to the Bar, based on its mix
ture of retainers, politics and sentimentality, should be
answered by an intelligent movement to simplify and speed judi
cial proceedings.
Meanwhile, let no disagreement with the
policy of one Administration lead the Bar to help paralyze the
Government itself, upon whose strength and prestige, all that
we have, and all that we are, depends.
00O00
\
ihrgfcrariBMTBirrarfc
Enum erators now engaged in the h o u se-to -h o u se canvass
coverin g 7 5 0 ,0 0 0 f a m ilie s in n in eteen s t a t e s w i l l re co rd
a l l a c c id e n ts stiffered in such f a m i l i e s ,
Tfce compiled d ata w ill
in d ic a te th e freq u en cy of v ario u s ty p es o f a c c id e n ts , i-n dfeffojoi
¿i, in c i t i e s , sm all towns and r u r a l a r e a s , and
among f a m ilie s of x x z i m
v a rie d economic l e v e l s .
"L earn in g a l l th e n e ce ssa ry acbspxxls: f a c t s i s the firs
ste p toward so lv in g the
problem of home a c c i d e n t s ," said Miss
Roche. ^"They a r e c o s t l y to the community but t h e i r c o s t f a l l s
l a r g e l y upon the v ic tim s and t h e i r fa m ilie s ra th e r than upon xa
an in d u stry or o th e r s p e c i f i c agen cy.
"R ecords a re s i l e n t about the breaking up of
homes when a c c id e n ts d is a b le men and women in the prime of l i f e ,
have no w itn e sse s to the c ru e l burden on the d isab led bread winnj
o r of the s a c r i f i c e d made by r e l a t i v e s .
" I t i s our hope to p rovid e t h i s in fo rm atio n through the
P u b lic H ealth In v e n to ry .
With t h i s m a te r ia l a t hand we w ill be
in a b e t t e r p o s itio n to determ ine both the s e rio u sn e s s and the
cause of such a c c id e n ts ,
raxH pxtiraxixxzxtiiK H & xxkxx
and to meet the problem , as th e
problem of o ccu p atio n al a c c id e n ts i s now being m e t."
##
H
Q jS ^ \
^
Isk/jJlsJ^^AAUJ'
i
tJfeX
7ni-y*^0f
program fo r
a c c id e n t p re v e n tio n , the
P u b lic H ealth S e rv ic e w ill p re s e n t a n atio n -w id e r e p o r t on
th e e x te n t and economic c o s t of a l l typ es of
The m a te ria l i s
h#
xskkx &x
a c c id e n ts .
being secu red a s a p a r t of the
N ation al H ealth In v e n to ry , now being conducted by the P ub lic Heal
S e rv ic e w ith W# P . A. fu n ds, i t was announced by Miss Josephine
Roche, A s s is ta n t S e c r e ta r y o f the tr e a s u r y in charge of Public
Heal th •
A s s e rtin g th a t " a c c id e n ts ^ c o n s titu te one o f our
g r a v e s t problem s” , th e P re s id e n t
o f Commerce uo c a l l
au th o rized the Secreta
an e a r l y co n feren ce to determ ine means of
reducing th e n a tio n a l t o l l o f d eath s and i n ju r i e s from t h i s cause
S e c r e ta r y Roper has d esig n ated the
secu rin g of
i cur*rent
s t a t i s t i c s as the f i r s t step to be tak en .
While th e f i e l d s of o ccu p atio n al and motor vehicle
a c c id e n ts have been covered in p revious c o lle c tio n s of statistics
H ealth In ven tory * s w ill p rovide the f i r s t adequate d ata as to
the p re v a le n ce of home a c c id e n ts .
has estim ated
The N atio n al S a f e ty Council
th a t 3 4 ,5 0 0 people were k i ll e d by home a ccid e n ts
in 1 9 3 4 , a number second only to m otor v e h ic le f a t a l i t i e s , i t is
e stim ated t h a t more than 1 5 0 ,0 0 0 people were perm anently disabled
..
„
home
as the r e s u l t o f xxgfc a d cid e n ts and th a t more than 5 ,0 0 0 ,0 0 0
were te m p o ra rily d is a b le d .
Such a c c id e n ts in clu d e f a l l s , burns
e x p lo s io n s , c u t s , a s p h y x ia tio n , poison ing and e l e c t r i c a i shocks.
TREASURY DEPARTMENT
Washington
JOR RELEASE, MORNING- NEWSPAPERS,
Sunday, December 15, 1935»______
Press Service
No, 6-47
12-12-35,
In furtherance of the Presidents program for accident prevention, the Public
Health Service will present a nation-wide report on the extent and economic cost of
all types of accidents.
The material is being secured as a part of the National Health Inventory, now
being conducted by the Public Health Service with W.P0A. funds, i+- was announced by
Miss Josephine Roche, Assistant Secretary of the Treasury in charge of Public Health,
Asserting that naccidents constitute one'of our gravest problems”, the President
recently authorized the Secretary of Commerce to call an early conference to deter
mine means of reducing the national toll of deaths and injuries from this cause.
Secretary Roper has designated the securing of necessary current statistics as the
first step to be taken.
While the fields of occupational and motor vehicle accidents have been covered
in previous collections of statistics, the Health Inventory will provide the first
adequate data as to the prevalence of home accidents.
The National Safety Council
has estimated that 34,500 people were killed by home accidents in 1934, a. number
second only to motor vehicle fatalities.
It is estimated that more than 150,000
people were permanently disabled as the result of home accidents and tha„t more than
5,000,000 were temporarily disabled.
Such accidents include falls, burns, explo
sions, cuts( asphyxiation, poisoning and electrical shocks.
Enumerators now engaged in the house-to-house canvass covering 750,000
families in nineteen states will record all accidents suffered in such families,
be compiled data will indicate the frequency of various types of accidents, in
Clties, small towns and rural areas, and among families of varied economic levels.
’’Learning all the necessary facts is the first step toward solving the
problem of home accidents,” said Miss Roche. ’’They are costly to the community
but their cost falls largely upon the victims and their families rather than
upon an industry or other specific agency.
’’Records are silent about the breaking up of homes when accidents disable
men and women in the prime of life.
We have no witnesses to the cruel
.•
burden on the disabled bread, winner or of the sacrifices made by relatives.
”It is our hope to provide this information through the Public Health Invent oiy*
With this material at hand we will be in a better position to determine both the
seriousness and the cause of such accidentsj, and to meet the problem, as the problem
of occupational accidents is now being metc”
0 0 O00
The Procurement Division of the Treasury Department has pur
chased 44-,755,74-5 yards of textiles for the Works Progress Admin
istration, Awards for an additional 23,44-3,000 yards will be made
by December 24th. These textiles will be made into garments by
women taken from the relief rolls in accordance with the President’s
plan tf put employables to work, and the garments distributed for
relief purposes.
i To obtain prompt deliveries of so large a quantity of textiles
without unduly upsetting the market, the Procurement Division
decided to depart from its standard specifications in certain instances
and open competition to suitable commercial textiles available in the
open market. In the formulating1,of this plan, the Procurement Division
Received wholehearted cooperation from such Governmental agencies as
/the Textile Division of the Bureau of Foreign and Domestic Commerce,
the Department of Agriculture and the Bureau of Standards, as well as
the Cotton Textile Institute, the Association of Cotton Textile
Merchants and similar commercial organizations. The advice and
assistance received from the above agencies resulted in the formula
tion of new specifications for material required by the Works Progress
Administration, and accomplished the desired purpose.
Invitations to^Bid have been mailed to approximately 250 textile
firms throughout 13ae United States, and 158 bids have been submitted
to date. The total value of the low bids on the entire quantity of
44^ 755,745 yards was $4,619,355.00, or an average of approximately
'►103|>cents per yard. Over 25 contractors have received awards for
go53!s^ manufactured by mills located throughout the United States.
Id* i >
d
c Jt.Cf
TREASURY DEPARTiiENT
Washington
nprvipp
6^48
FOR RELEASE, m o r n i n g n e w s p a p e r s ,
■Rnnday. December I d , 1935.-----1 2 -1 3 -3 5 .
The Procurement Division of the Treasury Department has nurchased 44,755,745
yards of textiles for the Works Progress Administration, it was announced,yesterday
by Admiral C.J, Peoples, Director.
te made by December 24th.
Awards for an additional 23,443,000 yards will
These textiles will be made into garments by women taken
from the relief rolls in accordance with the President's plen to put employables to
work, and the garments distributed for relief purposes.
To obtain prompt deliveries of so large a quantity of textiles without unduly
upsetting the market, the Procurement Division decided to depart from its standard
specifications in certain instances and open competition to suitable commercial
textiles available in the open market.
In the formulation of this plan, the Pro
curement Division received wholehearted cooperation from such Governmental agencies
as the Textile Division of the Bureau of Foreign and Domestic Commerce, the Dept,
of Agriculture and the Bureau of Standards, as well as the Cotton Textile -institute,
the Association of Cotton Textile Merchants and similar commercial organizations.
The advice and assistance received from the above agencies resulted in the formula-
j
tion of new specifications for material required by the Works Progress Administra
tion, and accomplished the desired purpose*
Invitations to bid have been mailed to approximately 250 textile firms tnroughout the United States, and 158 bids have been submitted to date.
The total value
of the low bids on the entire quantity of 44,755,745 yards wa.s $4,619,355.00, or an
average of approximately 10*32 cents per yard.
Over 25 contractors have received
awards for goods manufactured by mills located throughout the United States.
ooOeo
- 2 profits of $337,452,000, reserves for contingencies of $147,282,000, and preferred
stock retirement fund of $2,664,000, a total of $1,353>353 »000» «bowed increases in
the four and twelve month periods of $76,438,000 and $69 ,576 ,000 , respectively*
The total deposits of the active hanks on November
1 , 1935 , w®pe
$2^,033,236,000, which was an increase of $1,514,990,000, or 6*73 P er cent, since
June 29, 1935, a11*! a® increase of $3,211,844,000, or 15*43 P«r cent, since October 1
1934.
The aggregate on November 1, 1935, comprised amounts due to banks subject to
immediate withdrawal and certified and cashiers' checks outstanding of $4,036,962,
United States Government deposits of $438,768,000, other demand deposits of
$12,2^3,072,000 and time deposits of $7,314,434,000.
In the total of time deposits
were included postal savings of $193 ,699 ,000 , time certificates of deposit of
$637 ,126 ,000 , and deposits evidenced by savings pass books of $5 ,799 ,725 ,000 , the
latter amount representing 14,586,478 accounts*
Postal savings in national banks
on November 1, 1935 showed a decrease of $49,135,000, or 20.23 per cent, since June
2 9 , and a decrease of $166,684,000, or 46.25 per cent, in the year.
Borrowings were reported in the form of bills payable of $3,833,000 and redis
counts of $1,174,000, or a total of $5,007,000.
Total borrowings reported for June
29, 1935, and October 17, 1934, were $4,643,000 and $8,786,000, respectively.
The percentage of loans and discounts to total deposits reported as of November
1, 1935, was
and
3O .38 per cent, in comparison with 32 .71 per cent on June 29, 1935,
36*66 per cent on October 1 7 , 1934*
00O00
/
FOE RELEASE, MORNING NEWSPAPERS,
/§,/?
Comptroller of the Currency J.F.T. O'Connor announced today that the total
assets of the 5,U09 active national hanks in the continental United States, Alaskd
Hawaii and the Virgin Islands of the United States on November 1, 1935» the date d
the last call for statements of condition, aggregated $27,^ 30 , 730 »000, which was
increase of $1,369,665,000 over the amount reported hy 5,^31 active hanks on June
29, 1935, the date of the previous call, and an increase of $2,619,3^0,000 over t
amount reported
hy 5,^66 active hanks as of October 17, 193^, the date of the fallj
call a year ago.
Loans and discounts, including rediscounts, on November 1, 1935» totaled
$7»301,371,000, in comparison with $7,365,226,000 on June 29, 1935» and
$7»633,92U,000 on October 17, 193^*
Investments in United States Government obligations direct and fully guaran
teed amounted to $7, *+93,596,000, showing an increase of $320,589,000 since June 2<j
and an increase of $l,lU5,3#+,000 in the year.
Investments in such obligations
reported for the recent call comprised direct obligations of the United States
of $6,233,061,000, obligations of the Reconstruction Finance Corporation of
$187,956,000, Federal Farm Mortgage Corporation bonds of $329,202,000, and Home
Owners' Loan Corporation bonds of $7^3,377,000.
Other bonds and securities held
amounted to $3,68^,778,000, showing an incfease of $1^1,399,000 since June 29,
and an increase of $11^, 6^ 1,000 in the year.
Balances due from correspondent banks and bankers of $7, *+02,59^,000, which
included reserve with Federal reserve banks of $3 >*+53» 672,000, were $991,852,000
casl1
more than on June 29 and $1,790,562,000 more than on October 17, 193*+*
in vault of $^-6^,379,000 showed decreases in the four and twelve month periods of
$1,13*+,000 and $1*+,377,000, respectively.
19 3 5 , aggregated $1 ,776,591,000 and represented a par value of $1 ,782,313,000.
The l a t t e r figure was composed of Class A preferred stock of $ 503 , 529 , 000 , Class
The book
value of the cap ital stock showed a decrease of $32,912,000 since June 29»
increase of $*+,078,000 in the year.
.more than on June
in vault of $404,
The book value of ca p ita l stock of the activ e national banks on November 1,
B preferred stock of $21,198,000, and common stock of $1,257,586,000.
included reserve '
Surplus funds of $ 2 6 5 , 9 5 5 » undivided
921
$1,134,000 and $1
COMPTROLLER OF THE CURRENCY
W A SH IN G T O N
December 13, 1935
MEMORANDUM FOR MR. GASTON:
I have made all of my general releases for
Monday morning papers hut I believe because of the
great interest in the call report on national banks
that we should release it for the Sunday morning
paper as it also gives an opportunity to those
interested in this particular report to study it
over Sunday.
A copy of the same is at>aéííed
/
50NN0J
Comptroller
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, December 15. 1955»______
12-14-35.
Press Service
No. 6-49
Comptroller of the Currency J.F.T. O ’Connor announced today that the total
assets of the 5,409 active national hanks in the continental UnitedStates, Alaska,
Hawaii and the Virgin Islands of the United States on November 1, 1935, the date of
the last call for statements of condition, aggregated $27,430,730,000, which was an
increase of $1,369,665,000 over the amount reported by 5,431 active banks on June
23, 1935, the date of the previous call, and an increase of $2,619,340,000 over the
amount reported by 5,466 active banks as of October 17, 1934, the date of the fall
call a year ago.
Loans and discounts, including rediscounts, on November 1, 1935, totaled
$7,301,371,000, in comparison with $7,365,226,000 on June 29, 1935, and
$7,633,924,000 on October 17, 1934.
Investments in United States Government obligations direct and fully guaran
teed amounted to $7,493,596,000, showing an increase of $320,589,000 since June 29
and an increase of $1,145,364,000 in the year.
Investments in such obligations
reported for the recent call comprised direct obligations of the United States of
$6,233,061,000, obligations of the Reconstruction Finance Corporation of
$187,956,000, Federal Farm Mortgage Corporation bonds of $329,202,000, and Home
Owners’ Loan Corporation bonds of $743,377,000.
Other bonds and securities held
amounted to $3,684,778,000, showing an increase of $141,399,000 since June 29, and
an increase of $114,641,000 in the year.
Balances due from correspondent banks and bankers of $7,402,596,000, which
included reserve with Federal reserve banks of $3,453,672,000, were $991,852,000
more than on June 29 and $1,790,562,000 more than on October 17, 1934.
The cash
in vault of $404,379T000 showed decreases in the four and twelve month periods of
$1,134,000 and $14,377,000, respectively.
<
.
-2-
The Ido ok value of capital stock of the active national hanks on fovemben 1,
1935, aggregated $1 ,7 7 6 ,5 9 1 , 0 0 0 and represented a par value of $1 ,7 8 2 ,3 1 3 ,0 0 0 . The
latter figure was composed of Class A preferred stock of $5 0 3 ,5 2 9 ,0 0 0 , Glass B
preferred stock of $2 1 ,1 9 8 ,0 0 0 , and common stock of $1 ,2 5 7 ,5 8 6 ,0 0 0 .
The"cook value
of the capital stock showed a decrease of $3 2 ,9 1 2 , 0 0 0 since June 2 9 , hut an
increase of $4 ,0 7 8 , 0 0 0 in the year.
Surplus funds of $8 6 5 ,9 5 5 ,0 0 0 , undivided
profits of $3 3 7 ,4 5 2 ,0 0 0 , reserves for contingencies of $1 4 7 ,2 8 2 ,0 0 0 , and preferred
stock retirement fund of $2 ,6 6 4 ,0 0 0 , a total of $1 ,3 5 3 ,3 5 3 ,0 0 0 , showed increases .
in the four and twelve month periods of $7 6 ,4 3 8 , 0 0 0 and $6 9 ,5 7 6 ,0 0 0 , respectively.
The total deposits of the active hanks on November 1, 1935, were
$24,033,236,000, which was an increase of $1,514,990,000, or 6.73 per cent, since
June
29, 1935, and an increase of $3,211,844,000, or 15.43 per cent, since October
17, 1934.
The aggregate on November 1, 1935, comprised amounts due to hanks sub
ject to immediate withdrawal and certified and cashiers* checks outstanding of
$4,036,962,000, United States Government deposits of $438,768,000, other demand
deposits of $12,243,072,000 and time deposits of $7,314,434,000»
In tho total
of time deposits were included postal savings of $193,699,000, time certificates of
deposit of $637,126,000, and deposits evidenced by savings pass books of
$5,799,725,000, the latter amount representing 14,586,478 accounts.
Postal savings
in national banks on November 1, 1935 showed a decrease of $49,135,000, or 20.23
per cent, since June 29, and a decrease of $166,684,000, or 46.25 per cent, in the
year.
Borrowings were reported in the form of bills payable of $3,833,000 and re
discounts of $1,174,000, or a total of $5,007,000.
Total borrowings reported for
June 29, 1935, and October 17, 1934, were $4,643,000 and $8,786,000, respectively.
The percentage of loans and discounts to total deposits reported as of Novem
ber 1, 1935, was 30.38 per cent, in comparison with 32.71 per cent on June 29,1935,
and 36.66 per cent on October 17, 1934.
ooOoo
T R EA SU R Y DEPARTM ENT
O F F IC E
OF
THE
SEC R ETA RY
WASHINGTON
C O M M ISSIO N ER O F
A C C O U N T S AN D D E P O S I T S
December 1 4 , 1 9 3 5 .
TO MR. GASTON:
During th e month of November the fo llow in g market t r a n s
a c t i o n s took p l a c e in Government s e c u r i t i e s f o r
investm ent a c
cou n ts:
T o t a l s a l e s ................................... . $ 3 1 * 3 0 9 ,0 0 0
T o ta l p urchases ..............................
Net s a l e s :
1 2 ,8 9 0 ,0 0 0
$ 1 8 ,4 1 9 ,0 0 0
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, December 16, 1935.
Press Service
No. 6-50
Transactions in market purchases and sales of Government securities
for Treasury investment accounts for the calendar month of November, 1935,
resulted in net sales of $18,419,000, Secretary Morgenthau announced today.
ooOoo
TREASURY DEPARTMENT
Washington
POR:'IMMEDIATE RELEASE,
Monday»Decomber 16, 1935,
Press Service
No. 6-51
Secretary of the Treasury Morgenthau announced today that beginning January 1,
1936, a new series of United States Savings Bonds will he offered for sale through
the Postal Service.
The new series of savings bonds is designated Series B, to
differentiate the bonds sold during the calendar year 1936 from those of Series A
sold during the calendar year 1935.
The issue prices of the bonds of Series B,
and the terms of the bonds and the conditions of their issue are substantially the
same as for the bonds of Series A, the sale of which will terminate' on December 31
1935.
The new offering is governed by Treasury Department Circular No. 554, issued
today.
Savings bonds are sold on a discount basis, the issue price being $75 for each
$100 maturity value, and are issued in maturity value denominations of $25, $50,
$100, $500 and $1,000.
Each bond will mature ten years after the date of its issue
The face amount will be payable at maturity, and, after sixty days from the issue
date, Savings bonds are redeemable at any time at the option of holders, at fixed
redemption values, the redemption value for the first Year being the i§,sue price,
and thereafter increasing each six months until the face or maturity value is
reached in ten years.
If savings bonds are held to maturity the investment yield is about 2,9 per
cent per annum compounded semiannually; if redeemed.before maturity the yield is
less, varying with the respective redemption.values.
Savings "bonds are issued only in registered form, the name and address of the
owner being inscribed on the face of each bond and recorded at the Treasury Depart
ment.
They are not transferable.
Savings bonds may be registered in the name of
a single individual, or in the names of tvro individuals as co-owners, or in the
name of an individual with a single designated beneficiary in case of death; they
.
may also be registered in the names of fiduciaries, corporations, associations, etc.
United States Savings Bonds are offered primarily for the small investor and
the amount which may be held by any one person is limited by law to a maximum of
$10,000 (maturity value) issued during any one calendar year.
Accordingly, even if
one holds savings bonds of Series A issued during the calendar year 1935 to the
maximum amount permitted by law, he may purchase and hold a like amount of savings
bonds issued during the calendar year 1936.
The Secretary also announced that the regulations governing United States
Savings Bonds contained in Department Circular No. 530, dated February 25, 1935,
have been reissued under date of December 2, 1935, with amendments.
One important
amendment authorizes the partial redemptionof savings bonds before maturity, the
regulations providing that a savings bond in denomination larger than $25 may be
paid in part at the appropriate redemption value corresponding to any authorized
denomination or denominations, and a bond or bonds will be issued for the remainder.
This provision and all other provisions of the amended Department Circular No. 530
apply to the savings bonds of Series A as well as to those of the new series.
Since the sale of savings bonds was inaugurated last March 1, cash receipts
for sales to November 30, 1935 have aggregated $178,718,250 representing a maturity
value of $238,291,000.
ooOoo
TREASURY DEPARTMENT
Uf shington
December 16, 1935*
MEMORANDUM FOR THE PRESS
RECEIPTS OR SILVER BY THE MBITS AND ASSAY CRY ICSS:
(Under Exe cut ive Pro exemption of December 21, 1933) as amended
Week ended December 15, 1935:
Philadelphia........... ............
Sen Francisco................... .....
Denver...............................
Total for week ended December 13, 1935..
Total receipts through December 13, 1935
299,625.42 fine ounces
tt
722,383.75
*’
tt
9,656.58
"
tt
1,031,665.75
’’
tt
58,069,000.00
”
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended December 15, 1935:
Philadelphia,...................................
Hew York....................................... .
San Francisco...... ................. ......... .
Denver,.... .....................................
New Orleans ............. ............. '........
Seattle....... ............................. ... *
Total for week ended December 13, 1955............
Total receipts through December 13, 1935#.........
256.00 fine ounces
it
tt
837.70
tt
tt
431.00
tt
it
459.97
rt
n
271.08
it
tt
160.10
tt
tt
2,415.85
it
tt
112,182,598.10
RECEIPTS OF SOLD BY 'THE MINTS AND ASSAY OFFIC O i
Week ended December 13, 1935:
Imports
6,526.55
Philadelphia.........................$
New York. ..... .
50,162,800.00
San Francisco................. .....
890,157.44
Denver......... ............
7,357.36
New Orleans,,.....,.....,...... ......
8,853.95
~
~ ~ ~
Seattle....... ........ .. ...........
Total for week ended December 13, 19o5.$51,075,695*30
Secondary
$138,238.97
103,800.00
49.384.03
23,402.51
30.909.04
12,501.28
$358,035.83
New
Domestic
$
426.0$
299,100.00
1,771,841.71
598,541.57
157.30
367,754.22
$3,037,820.89
GOLD RECEIVED 3Y FEDERAL RESERVE BANKS AND THE TREASURER’S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended December 11........ .
Received previously.............
Total to December 11...........
Received by Treasurer’s Office:
Week ended December 11.... .....
Received previously........... .
Total to December 11......... .
NOTE:
Gold Coin
$
24,772.10
30,997,115.13
$31,021,887.23
$
$
200.00
266,256.00
266,456.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572*69 previously reported.
Gold Certificates
$
392,420.00
100,519,610.00
$100,912,030.00
$
$
2,700.00
2,310.000.00
2,¿12,700.00
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, December 16, 1935, .
^ ® SB
The Treasury received today the sum of $230,453.00 from the Government
of Finland, representing a payment of principal in the amount of $65,000
?nd the semiannual payment of interest in the amount of $146,422.50 under
the funding agreement of May 1, 1923, and $19,030.50 as the fifth semiannual
annuity due under the Moratorium Agreement of May 23, 1932.
This payment
represents the entire amount due from the Government of Finland and was
paid in cash through the Federal Reserve Bank of New York.
ooOoo
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. December 17. 1935.
12/16/36
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts,
of 273-day Treasury bills, dated December 18, 1986, and
maturing September 16, 1986, which were offered on Decem
ber 13, were opened at the Federal Reserve banks on Decem
ber 16.
The total amount applied for was $200,906,000, of
which $50,215,000 was accepted. The accepted bids ranged
in price from 99.947, equivalent to a rate of about 0.070
percent per annum, to 99.928, equivalent to a rate of
about 0.099 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was
accepted. The average price of Treasury bills to be
issued is 99.984 and the average rate is about 0.087 per
cent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
Press Service
No. 6-54
f o r 'r e l e a s e , m o r n i n g n e w s p a p e r s ,-
Tuesday, Deccinher 17, 1925,_____
12-16-35.
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury bills, dated
December 18, 1935,- and maturing September 16, 1936, which were offered on
December 13, were opened a.t the Federal Reserve banks on December 16.
The total amount applied for was $200,906,000, of which $50,215,000 was
accepted.
The accepted bids ranged in price from 99,947, equivalent to a.
rate of about 0,070 percent per annum, to 99.925, equivalent to a rate of
about 0.099 percent per annum, on a, bank discount basis.
amount bid for at the latter price was accepted.
Only part of the
The average price of
Treasury bills to be issued is 99,934 and the average rate is about 0,087
percent per annum on a bank discount basis.
ooOoo
Comparative Statement of Income Taxes Collected December 1 - 1 5 , inclusive,
1934, and December 1 - 1 $ , inclusive, 1935*
DISTRICTS
Deposited
De c .l v l S . 1934
\
4 1 ,770176
1 1 7 ,7 8 1 ,7 7
Arkansas,
1st California,
6th California,
Colorado,
Connecticut,
Delaware,
I
:
, Georgia,
I Hawaii,
Idaho,
j
1st Illinois,
J 8thIllinois,
.
FIndiana,
I Iowa,
Kansas,
Kentucky,
Louisiana,
Maine,
Maryland, I n c lu d in g D i s t .
of Columbia,
Massachusetts,
I Michigan,
Minnesota,
Mississippi,
3 1 9 ,2 5 4 . 06
5 1 9 ,3 8 9 ]
1 0 9 ,4 0 7 6 1 j
2 5 2 ,6 4 2 .1 2 |
430*23
5 0 .0 0
264*46
1 ,5 0 0 .0 0
4 2 ,2 0 0 . 99
1 1 7 ,8 3 1 . 77
1 0 9 ,6 7 2 ,
254,142*
j
5 0 0 ,0 0 0 .0 0
5 0 0 ,0 0 0 .0 0
3 ,8 0 3 ,5 8 4 . 22
6 ,0 9 3 ,1 8 4 ]
5 0 0 ,0 0 0 .0 0
1 0 0 ,0 0 0 .0 0
5 0 0 ,0 0 0 .0 0
5 0 0 ,0 0 0 .0 0
3 ,7 5 9 ,7 3 4 . 08
7 9 6 ,6 0 6 . 45
3 ,0 5 3 ,7 2 6 . 34
2 ,7 5 5 ,7 0 2 . 39
5 ,4 3 3 ,4 9 7 1
1 ,3 5 5 ,3 7 5 ,
j
5 0 0 ,0 0 0 .0 0
1 2 5 ,0 0 0 .0 0
1 7 5 ,0 0 (j.0 0
5 0 0 ,0 0 0 .0 0
7 1 6 ,7 1 4 . 99
1 ,3 2 7 ,0 0 9 .
5 ,0 0 0 .0 0
9 0 ,0 0 0 .0 0
7 2 8 ,2 9 6 . 60
8 5 3 ,9 6 3 . 60
1 ,1 0 1 ,1 9 0 1
6 0 ,3 1 3 . 47
1 0 ,7 3 1 ,0 6 2 . 45
5 7 0 ,7 3 7 . 42
3 ,2 5 9 ,7 3 4 .0 8
6 7 1 ,6 0 6 .4 5
2 ,8 7 8 ,7 2 6 j 34
4 ,9 3 3 ,4 9 7 .5 7
1 ,2 5 5 ,3 7 5 .6 0
4 ,4 1 6 ,0 2 6 .8 5
3 ,8 7 1 ,0 3 3 .5 3 !
, 8 2 7 ,0 0 9 .3 7 j
1 ,0 9 6 ,1 9 0 .4 2
$ 3 2 ,6 5 2 .4 8
1 0 0 ,0 0 0 .0 0
3 0 0 ,0 0 0 .0 0
Clear
2 4 5 ,0 0 0 .0 0
5 9 ,8 1 3 ,4 7
9 ,7 3 1 ,0 6 2 .4 5
9 5 ,3 4 6 .0 2
1 3 ,6 7 3 ,7 0 4 .5 3
5 0 0 .0 0
1 ,0 0 0 ,0 0 0 .0 0
1 ,5 0 0 .0 0
1 ,0 0 0 ,0 0 0 .0 0
5 5 0 ,7 3 7 .4 2
2 0 ,0 0 0 .0 0
1 ,5 7 7 ,3 8 4 * 1 8
576,024424
1 ,0 3 4 ,2 4 0 .6 4
2 ,8 8 1 ,1 5 6 .0 9
8 4 0 ,6 0 8 .7 7
2 6 5 ,0 0 0 .0 0
3 0 ,0 0 0 .0 0
1 4 0 ,0 0 0 .0 0
1 2 5 ,0 0 0 .0 0
2 8 4 ,9 1 0 ,9 8
5 5 9 ,5 8 7 *3 0
8 6 1 .1 9 6 .8 5
7 4 2 ,3 0 4 .9 5
46 4 ,4 3 6 *1 7
8 2 5 .7 5 7 .4 6
3 9 5 ,5 1 5 .6 8
3 ,1 3 3 ,3 2 6 /1 2
4 ,3 4 5 ,8 9 4 ,1 6
5 9 5 .5 8 8 .8 6
5 ,4 2 8 ,6 6 1 .5 2
6 ,7 0 5 ,1 7 9 .4 5
5 ,1 9 9 ,7 6 3 ,8 3
3 ,8 3 9 ,2 1 5 .2 6
2 .3 2 7 .1 2 9 .0 0
1 ,4 6 7 ,7 3 9 * 0 0
1 1 8 .0 4 8 .2 9
1935
7 5 ,0 0 0 .0 0
5 ,5 9 3 ,1 8 4 .8 8
7 2 8 .2 9 6 .6 0
6 0 8 .9 6 3 .6 0
Total
6 0 ,0 0 0 .0 0
4 4 4 ,3 8 9 .4 7
3 , 303,584«j 22
2 .2 5 5 .7 0 2 .3 9
4 1 6 ,7 1 4 i99
Florida,
Total
1934
>
2 5 9 ,2 5 4 ,0 6
Arizona,
Deposited
; Set* TJhdeposltei Est. TJndeposited
Dee, L —»16 .1 9 3 5 De c . 1 -1 5 . 1934 D ec,1 * 1 8 , 1935 j
$
$
$
1
1 2 1 ,2 5 2 .3 0
3 .7 3 7 .4 8 2 .7 8
1 0 0 ,0 0 0 .0 0
7 0 1 ,0 2 4 , 24
9 4 0 ,6 0 8 .
5 0 ,0 0 0 .0 0
2 0 6 ,6 4 2 .0 3
2 0 ,0 0 0 .0 0
7 8 8 ,7 5 1 .8 1
334,9104 98
7 6 6 ,2 2 9 , 33
881 ,1 9 6 *
1 ,4 8 1 ,0 5 6 .
3 5 0 ,0 0 0 .0 0
4 0 0 ,0 0 0 .0 0
8 1 4 ,4 3 6 . 17
1 ,2 2 5 ,7 5 7 .
3 9 5 ,5 1 5 . 68
3 ,4 3 3 ,3 2 6 . 12 j
7 ,8 4 5 ,8 9 4 . 16
7 ,1 9 9 ,7 6 3 . 83
1 ,4 6 7 ,7 3 9 , 00
1 1 8 ,5 1 8 ] 29
5 9 5 ,5 8 8 .
5 ,6 2 8 ,6 6 1 .
8 ,7 0 5 ,1 7 9 .
Clear
Clear
3 0 0 ,0 0 0 .0 0 :
3 ,5 0 0 ,0 0 0 .0 0
2 0 0 ,0 0 0 .0 0
2 ,0 0 0 ,0 0 0 .0 0
2 ,0 0 0 ,0 0 0 .0 0 ;
6 ,0 0 0 ,0 0 0 .0 0 1
Clear
Clear
4 7 0 .0 0
2 0 0 .0 0
1 0 0 ,0 0 0 .0 0 1
6th M issouri,
6 3 1 ,7 5 5 ,7 0
8 9 ,4 5 5 .3 9
3 6 7 .5 5 7 .2 9
7 1 6 ,8 6 ^ .8 9
1 8 6 ,885455
1 8 7 .7 4 3 .8 6
2 6 3 ,0 7 6 .2 8
9 7 1 ,5 3 7 ,5 8
6 ,6 2 5 ,2 6 3 ,9 2
3 9 ,4 0 1 .7 6
4 3 0 .7 1 8 .4 6
1 ,3 1 0 ,8 7 0 .6 6
7 .9 7 3 .1 8 8 .2 4
8 0 .0 4 2 .5 7
id 2ST5W1York,
2 ,7 3 3 ,0 2 5 .0 0
2 7 ,4 3 9 ,5 7 9 .0 6
4 .0 4 9 .0 6 3 .0 0
3 5 ,1 4 7 ,5 9 6 .1 9
3 ,0 0 0 ,0 0 0 .0 0
1 , 000, 000.00
2 , 7 3 3 ,0 2 5 .0 0
3 0 ,4 3 9 7 5 7 9 .0 6
r3d New York,
1 1 ,9 6 4 ,1 5 3 .6 9
1 9 ,4 6 1 ,7 5 2 .0 2
1 4 ,5 0 0 ,0 0 0 .0 0
3 ,5 3 8 ,2 4 7 .9 8
2 6 ,4 6 4 ,1 5 3 .6 9
1 ,2 1 7 ,6 7 9 .3 4
5 5 1 ,0 0 2 .5 0
3 .0 2 5 .0 9 7 .2 4
8 2 0 ,8 6 8 .5 1
1 ,8 9 8 ,0 0 4 .8 1
1 ,6 9 3 ,5 0 5 .4 4
3 .5 8 1 .5 8 3 .7 9
2 ,4 3 7 ,0 8 9 .5 0
5 0 0 .0 0 0 .
2 6 ,9 9 3 .0 0
4 7 .1 8 8 .5 8
3 ,6 1 8 ,2 9 9 .5 9
Montana,
i
Nebraska,
Nevada,
New Hampshire,
1st New Je r s e y ,
5th New J e r s e y ,
[NewMexico,
II 1st NewYork,
14th New York,
21st New York,
28th New York,
North Carolina,
North Dakota,
1st Ohio,
1 ,9 3 8 ,8 2 2 .7 8
10th Ohio,
11th Ohio,
18th Ohio,
Oklahoma,
Oregon,
1st Pennsylvania,
12th Pennsylvania,
23d Pennsylvania,
7 6 3 ,1 4 4 .9 0
.
3 5 9 ,1 6 8 ]9 1
3 ,2 6 2 ,4 6 8 * 7 6
5 0 2 ,1 4 4 ,5 6
2 2 4 ,2 3 2 .9 6
7 ,5 8 9 ,4 7 3 * 8 6
8 1 5 ,4 4 2 *0 2
3 ,8 2 6 ,9 7 1 ^ 5 0
1 ,3 0 0 ,0 0 0 .0 0 ;
5 0 0 ,0 0 0 .0 0 |
6 5 0 ,0 0 0 .0 0
2 0 ,0 0 0 .0 0
1 0 ,0 0 0 .0 0
1 5 .0 0 0 .
00 5 0 .0 0 0 .
4 0 .0 0 0 .
00
5 .0 0 0 . 00
11.000.
4 8 .1 9
00;
3 ,8 3 7 ,4 8 2 .
1 ,5 3 0 ,3 1 5 1
2 2 3 ,0 8 7 .
2 2 6 ,8 8 5 *5 5
6 .000. 00
2 7 4 ,0 7 6 .2 8
5 0 0 .0 0
1 ,000 ,000.00
1 ,000,000.00
1 ,5 0 0 .0 0
2 ,5 0 0 .0 0
4 0 ,9 0 1 .7 6
Clear
5 0 0 .0 0 0 .
C lear
0c* 6 0 .0 0 0 .
00 5 0 0 .0 0 0 .
00 9 0 0 .0 0 0 .
1 ,2 1 7 ,6 7 9 .3 4
00 621,002*60
00 2 ,3 9 8 ,0 0 4 .8 1
00 2 ,1 9 3 ,5 0 5 .4 4
Clear
Clear
2 6 ,9 9 3 .0 0
5 0 ,0 0 0 .0 0
C lear
1 ,9 8 8 ,8 2 2 .7 8
9 1 3 ,1 4 4 .9 0
3 7 0 ,1 6 8 .9 1
Clear
7 0 .0 0 0 .
1 ,3 2 3 ,9 9 1 .5 4
7 9 1 ,2 5 7 .1 2
1 5 0 ,0 0 0 .0 0
\ 1 0 0 ,0 0 0 .0 0
1 1 ,0 0 0 .0 0
1 5 ,0 0 0 .0 0
4 ,6 7 7 ,8 6 4 ,85
6 1 3 ,4 7 9 .0 1
3 8 6 ,0 6 8 .5 0
5 0 0 ,0 0 0 .0 0
4 1 9 ,0 0 0 .0 0
C lear
6 0 0 ,0 0 0 .0 0
1 ,2 0 0 ,0 0 0 .0 0
C lear
9 ,2 5 6 ,4 8 6 *24
9 6 5 ,1 8 4 »53
6 ,6 2 0 ,8 4 7 *39
1 ,7 5 0 ,0 0 0 .0 0
2 ,3 0 0 ,0 0 0 .0 0
9 2 1 ,1 4 4 .5 6
2 2 4 ,2 3 2 .9 6
9 ,3 3 9 ,4 7 3 .8 6
2 0 ,0 0 0 .0 0
1 0 ,0 0 0 .0 0
3 0 0 ,0 0 0 .0 0
8 3 5 ,4 4 2 .0 2
4 ,0 0 1 ,0 7 1 .5 0
3 0 0 ,0 0 0 .0 0
400,000V00
C lear
1 ,2 2 8 ,8 4 8 * 7 6
1 7 5 ,0 0 0 .0 0
3 ,7 6 2 ,4 6 8 .7 6
9 2 8 ,8 4 8 *7 6
South Carolina,
3 7 0 ,9 0 5 .9 4
1 ,0 3 6 ,5 0 9 .20
3 6 6 ,4 1 7 ,38
South Dakota,
Tennessee,
3 8 ,4 1 4 .9 4
7 8 5 ,4 7 9 ]9 5
6 0 ,3 0 7 ,56
1 ,4 5 3 ,9 4 0 ,,11
4 ,0 0 0 .0 0
4 0 0 ,0 0 0 .0 0
8 ,0 0 0 .0 0
3 0 0 ,0 0 0 .0 0
4 2 ,4 1 4 .9 4
1 ,1 8 5 ,4 7 9 .9 5
1st Texas,
8 1 6 ,803*60
5,000*00
150,000*00
1 ,1 9 1 ,8 0 3 .6 0
950,532418
1 1 9 ,6 5 3 .8 2
9 6 ,1 2 7 *0 8
1 ,7 0 2 ,6 7 9 .8 4
1 ,9 5 9 ,3 0 7 , 06
2 ,1 6 4 ,1 7 4 « ,52
3 7 5 ,0 0 0 .0 0
2d Texas,
Vermont,
Virginia,
Washington, including
Alaska,
West Virginia,
Wisconsin,
Wyoming,
219,208« 14
166,374« 42 ;
C lear
2 0 0 ,0 0 0 .0 0
1 0 ,0 0 0 .0 0
5 ,0 0 0 .0 0
2 ,3 1 9 ,6 7 6 . 53
9 3 6 ,1 2 8 . 96
2 0 0 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
1 ,3 0 8 ,0 5 9 .8 6
1 ,0 4 5 ,3 6 5 . 00
2 ,0 5 0 ,2 3 6 . 47
1 0 1 ,5 1 1 ,8 5
1 4 6 ,8 6 8 . 01
4 3 0 ,2 7 1 .6 8
6 1 7 ,5 4 7 .7 3
1 2 5 ,0 0 0 .0 0
2 0 0 ,0 0 0 .0 0
5 ,0 0 0 .0 0 ,
2 0 ,0 0 0 .0 0
2 ,0 0 0 .0 0
1 0 0 ,0 0 0 .0 0
1 3 0 ,0 0 0 .0 0
370,905.94F*
1 ,1 5 0 ,5 5 2 .1 8
1 2 9 ,6 5 3 .8 2
1 0 0 ,1 2 7 .0 8
1 ,9 0 2 ,6 7 9 .8 4
5 5 5 ,2 7 1 .6 8
667,547173
4 3 6 ,7 1 8 .4 6
1 ,3 1 1 ,3 7 0 * 6 6
8 .9 7 3 .1 8 8 .2 4
8 2 .5 4 2 .5 7 I
4 ,0 4 9 ,0 6 3 .0 0
3 6 ,1 4 7 ,5 9 6 .1 9
2 3 ,0 0 0 ,0 0 0 .0 0
3 .0 2 5 .0 9 7 .2 4
8 8 0 ,8 6 8 .5 1
!
j
4 ,0 8 1 ,5 8 3 .7 9 |
3 ,3 3 7 ,0 8 9 .5 0
4 7 .1 8 8 .5 8 1
3,618,299«
1,423,991«
806,257^
5,2 7 7 ,8 6 4 «
1,813,479|
3 8 6 ,0 6 8 ]
1 1 ,5 5 6 ,4 8 6 *
9 7 5 ,1 8 4
6 ,9 2 0 ,8 4 7 ]
1 ,4 3 6 ,5 0 9 .
3 6 6 ,4 1 7 ]
68,307*
1 ,7 5 3 ,9 4 0 ,
1 ,9 6 4 ,3 0 7 *
2 ,3 1 4 ,1 7 4 .
2 3 9 ,2 0 8 .
1 6 8 ,3 7 4 .
2 ,4 1 9 ,6 7 6 .
1 ,0 6 6 ,1 2 8 .
1 ,5 0 8 ,0 5 9 .8 6
1 ,1 ® ,365.1
2 ,1 5 0 ,2 3 6 .-
5 ,0 0 0 .0 0
1 0 6 ,5 1 1 .8 5
151,868.1
2 6 f6 4 4 T464.2S
i 16 4 ,9 1 7 ,0 7 2 .1 9
T otal,
56 ,6 2 9 ,6 4 0 .45
7 6 6 ,8 6 4 .8 9
1 9 2 ,7 4 3 .8 6
7 5 ,0 0 0 .0 0
1 0 0 ,0 0 0 .0 0
Philippine Islands,
1 2 8 ,2 8 7 ,4 3 1 .7 4 | 1 8 9 .7 8 1 .2 9 7 * 1 6
1 2 1 ,4 5 2 .
1 ,1 3 1 ,7 5 5 . 70
109,455* 39
00 382,557*29
971,585*77
7 ,6 2 5 ,2 6 3 .9 2
Clear
9 ,8 3 9 ,2 1 5 .
2 ,3 2 7 ,1 2 9 .
2 ,3 3 4 ,4 4 9 . 40
Rhode Island,
Utah,
I .8 2 2 ,6 5 2 ,
9 6 ,8 4 6 .
1 4 ,6 7 3 ,7 0 4 ]
1 ,0 6 4 ,2 4 0 ,
3 ,0 2 1 ,1 5 6 ,
1 .0 3 4 .4 4 9 .4 0
I
4 ,3 7 1 ,0 3 3 1
1 ,8 4 2 ,3 8 4 . 18
1st M issouri,
8 8 0 ,3 1 5 .7 9
2 1 3 ,0 8 7 .3 5
4 ,5 1 6 ,0 2 6 1
2 1 6 .4 2 5 .7 6 1 ¿4 1 i
The follow in g
statem en t l i s t s
c o l l e c t i o n s of income t a x e s , as re p o rte d by te le g ra m by
C o lle c to r s of I n te r n a l Revenue f o r the
p erio d s December 1 -1 5 i n c l u s i v e , 1 9 3 4 , and
December 1 -1 6 i n c l u s i v e , 1 9 3 5 .
F o r each
y e a r th e t o t a l fig u r e in clu d es ISacxxssitsEKiBXX
both sums a c t u a l l y d ep o sited and the c o l l e c t o r s *
e s tim a te s of u ndeposited c o l l e c t i o n s .
In a subsequent
XHpMfc statem en t to be a v a ila b le l a t e r t h is week
f i n a l r e p o r ts from a l l d i s t r i c t s w ill be l i s t e d .
/Comparative Statement of Income Taxes Collected Beeember 1-15,
inclusive, 1934, and December 1-16, inclusive, 1935.
D iSlftlC iS
WM
TOTAL
iuiiila
1934
1955
Miii©
I
I
TREASURY DEPARTMENT
Washington
EQR IMMEDIATE RELEASE,
Decemher 17, 1935.
Prsss Service
No. 6-55
The following statement lists collections of income taxes, as reported
t>y telegram by Collectors of Internal Revenue for the periods December 1-15
inclusive, 1934, and December 1-16 inclusive, 1935.
For each year the total
figure includes both sums actually deposited and the collectors’ estimates of
undeposited collections.
week
In a subsequent statement to be available later this
final reports from all districts will be listed.
Comparative Statement of Income Taxes Collected December 1-15, inclusive, 1934,
and December 1-16, inclusive, 1935.
DISTRICTS
Alabama
Arizona
Arkansas
1st California
6th California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
1st Illinois
8th Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland, including Dist of
Columbia
Massachusetts
Michigan
Minnesota
Mississippi
1st Missouri
6th Missouri
TOTAL
1935
TOTAL
1934
£
319,254.06
42,200.99
117,831.77
3,803,584.22
3,759,734.08
796,606.45
3,053,726.34
2,755,702.39
716,714.99
728,296.60
853,963.60
60,313.47
10,731,062.45
570,737.42
1,842,384.18
701,024.24
334,910.98
766,229.33
814,436.17
395,515.68
3,433,326.12
7,845,894.16
7,199,763.83
1,467,739.00
118,518.29
2,334,449.40
1,131,755.70
£
519,389.47
109,672.07
254,142.12
6,093,184.88
5,433,497.57
1,355,375.60
4,516,026.85
4,371,033.53
1,327,009.37
1,101,190.42
822,652.48
96,846.02
14,673,704.53
1,064,240.64
3,021,156.09
940,608.77
881,196.85
1,481,056.76
1,225,757.46
595,588.86
5,628.661.52
8,705,179.45
9,839,215.26
2,327,129.00
121,452.30
3,837,482.78
1,530,315.79
2
'Iontana
Nebraska
Nevada
New Hampshire
1st New Jersey
5th New Jersey
New Mexico
1st New York
2d New York
3d New York
14th New York
21st New York
28th New York
North Carolina
North Dakota
1st Ohio
10th Ohio
11th Ohio
18th Ohio
Oklahoma
Oregon
1st Pennsylvania
12th Pennsylvania
23d Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
1st Texas
2d Texas
Utah
Vermont
Virginia
Washington, including Alaska
West Virginia
Wisconsin
Wyoming
TOTAL
109,455.39
382,557.29
226,885.55
274,076.28
971,585.77
7,625,263.92
40,901.76
2,733,025.00
30,439,579.06
26,464,153.69
1,217,679.34
621,002.50
2,398,004.81
2,193,505.44
26,993.00
1,988,822.78
913,144.90
570,168.91
3,762,468.76
921,144.56
224,332.96
9,339,473.86
835,442.02
4,001,971.50
1,228,848.76
370,905.94
42,414.94
1,185,479.95
1,191,803.60
1,150,552.18
129,653.82
100,127.08
1,902,679.84
555,271.68
667,547.73
1,508,059.86
106,511.85
$
223,087.35
766,864.89
192,743.86
436,718.46
1,311,570.66
8,973,188.24
82,542.57
4,049,063.00
36,147,596.19
23,000,000.00
3,025,097.24
880,868.51
4,081,583.79
3,337,089.50
47,188.58
3,618,299.59
1,423,991.54
806,257.12
5,277,864.85
1,813, 79.01
386,0o8.50
11,556,486.24
975,184.53
6,920,847.39
1,436,509.20
366,417.38
68,307.56
1,753,9n0.11
1,964,307.06
2,314,174.52
239,208.14
163, '74.42
2,419,676.53
l,06o,l28.96
1,120,365.00
2,150,236.47
151,868.01
L64,917,072.19
,;;216,425,761.41
Sources of income and deductions,
individual returns for 1 9 3 4 » "by n e ^ income classes
(Money figures in thousands of dollars)
(Returns filed to August 3 1 » 1 9 3 5 )
Net income classes
(Thousands of dollars)
Under
5
(estimated)
5 -
...
......
Numb er
of
returns
O F
I N C O M E
Interest on
Government Dividends on
Interest
Rents
stock of
Fiduciary
obligations
other than
and
domestic
not whol l y
1/
tax-exempt
royalties
corporations
exempt
from tax ?/
D E D U C T I O N S
S O U R C E S
Salaries,
wages,
comm i s s i o n s ,
fees, etc.
Business
$5 .6 5 4 » 8 9 9
$1,176,141
$205,377
2 8 3 ,1 7 8
1,187,730
313,639
150,517
39,088
76,016
3 .5 6 8 , 7 8 8
P artnership
¿7
Capital
' net
gain
$52,846 $3 1 2 , 9 0 5
Other
income
Total
income
Interest
Net loss
Net loss
paid
from
from
business partnership
3/
Taxes
paid
Contri
bute ions
$273,792 $318,445
97,622
387,656
1,936,921
34,523
86,323
309424
1,507,617
10,861
5,651
102,204
87,071
41,232
3 3 ,0 2 8
8 ,7 1 5
4,908
71,458
70I468
$91,645
11,569
286,840
61 ,9 1 7
163,826
3 3 ,4 3 4
2,324,577
Net
income
$7,485,000
43.016
$511,701
Total
$384,921 $1,246,699
$12,081
$9 7 , 7 0 4
All
other
3/
$8,731,699 $87,419. $31,286
$428,481
V
Capital
net
loss
$138,755
102,488
639,068
172,524
148,432
4 8 ,5 5 5
53,810
13,898
420,400
73,519
160,351
26,483
1,817,040
2 3 5 .3 7 9
5 1 ,0 9 7
7 2 ,7 7 4
29,560
20,901
6,637
305,120
3 9 ,oi6
71,330
14,687
846,500
10,174
A , 279
2,64.5
30,056
32,240
19,429
140,712
5 0 ......
20,851
41,889
25 -
705,788
90 -
100 .... ..
6,073
107,319
20,555
19,036
% 616
3,048
221,716
19,472
3 3 ,4 9 3
8,921
483,743
3 ,4 5 0
2 ,7 1 7
1,053
15,261
19,855
13,492
23,368
79,195
404,548
40,569
100 -
150 ......
26,185
3 ,3 9 5
10,897
5 ,5 3 0
1,821
795-
80,217
3 ,6 6 3
7 ,0 9 2
2,743
1 4 2 ,3 3 9
885
1,230
526
4 >466
¿,285
4,782
7,472
25,646
116,693
973
150 -
300 ......
684
21,420
2,298
10,636
7,725
1,265
893
109,619
4,038
7,214
3,785
168,893
495
1,422
256
4,014
6,377
8,721
2 9 ,1 4 4
139,750
500 .......
lié
3 .5 8 3
425
1,170
3 ,4 7 9
360
674
36,853
1,092
3 ,1 5 4
1,614
52,404
85
443
1X
1,224
^,387
2,246
2,186
8,572
43,832
300 -
86
2,341
2,006
738
3,348
711
I88
56,318
654
3 ,6 9 5
2,016
72,014
66
664
38
3 ,1 4 4
2,517
2,961
3,171
12,559
5 9 ,4 5 5
32
1 ,2 4 3
-
5
2 ,5 1 9
27
59
61,454
332
1,602
2,108
69,348
MÊ
857
O
J
567
2,573
4,184
4 ,4 5 3
12,689
56,659
and o v e r ........
■Total...........
3,988,269
1,742,080
641,116
211,687
4 7 7 ,4 3 0
2,007,019
301,407
963,457
187,436
14,708,558- inQ
17o.oby ' 6 2 , 4 7 4
27,166
506,187
549,700
267,980
660,125
2,252,296
12,456,262
Ò
1,C00
»
25 ..... .
0
0
1
—!
1
0
0TN
t
10 -
8,139,166
37,762
^
..r"-**" *«.'
*******
n -------- -------------------------------------------------------------------------------------- I-----Treasury Department, Division of Research and Statistics.
j
1 Excludes dividends on stock of domestic corporations and taxable interest on obligations of the United States, wh i c h are reported under their respective classifications.
2 / Interest received on 4 and
percent Liberty bonds and Treasury bonds, owned in excess of $ 5 »0 0 0 , and on obligations of certain instrumentalities of the United States,
is subject to surtax; if the surtax net income is over $4 ,0 0 0 .
Excludes amounts reported in Schedule A as business deductions.
Sources of income sind deductions, individual returns for 1334* "by ne^ income classes
(Money figures in thousands of dollars)
(Returns filed to August 3 1 , 1333)
Net income classes
(‘
Thousands of dollars)
Under 5 (estimated) ..
Numb er
of
returns
S 0 U R C E S 0 F IN C O M E
Interest on
Government Dividends on
Interest
Rents
Capital
stock of
Fiduciary- other than
obligations
Partnership ' net
and
domestic
not wholly
1/
jtax-exempt
u
£a.ir. royalties
corporations
exempt
Salaries,
wage s,
Business
commissions,
fees, etc.
3 ,568,788
45,854,899
$1,176,141
$205,377
$52,846 $312,905
*
V
D E D U C T I0 N S
Other ' Total
income ; income
$428,481
$97*704
$511,701
$91,645
Capital Net loss; Net loss Interest; Taxes •
paid ! paid ;
from
from *
net
loss bus ine ss* partnership
3/
j
il
i
$8 ,731,699 $8 7 ,419. $31,286
$12,081
Contri
butions
$273,792 $318,445
$138,755
j All
; other
;
1
Total
;
Net
income
$384,921 $1 ,246,699
$7,48$,000
150,517
76,016
1 1 ,5^
286,840
61,917
163,826
33,434
2,324,577
43.016
l0,oSl
5,651
102,204
87i071
41,232
1,336,321
693,068
172,524
148,432
48,555
53,810
13,898
420,400
73,519
160,351
26,483
1,817,04c
33,028
8,715
4,908
71,458
34,523
86,323
309 ,424
1 ,507,617
25 ......
102,488
70,468
10 -
29,560
20,901
6.837
39*016
71,330
14,687
846,500
10,174
4,279
2,645
19 ,429
41,889
705,788
72,774
305,120
140,712
235.379
51.097
30,056
50 ......
20,851
32,240
25 -
107,313
40,563
19,036
9,616
3.048
19,472
33,493
8,921
483,745
3,450
2,717
1.053
15,2d 1
19 ¿855
13,492
79,195
404,548
20,555
221,716
23,368
6,073
3,663
7,092
885
1,23O
526
4 ,4 6 6
6,485
4,782
7,472
25,646
2,743
142,333
116,633
80,217
150 ......
973
26,185
3,395
10,897
5,530
1,821
795 —
684
2,298
10,636
7,725
1,265
893
109,619
4,038
7,214
3.785
168,893
495
1,422
256
4,0 1 4
7,659
6,377
29,144
I33 ,750
3OO ......
21,420
.8,721
I50 -
1,170
36,853
1,092
3,154
1,614
52,404
85
443
*1
J
L
21,387
2,246
8,572
3,479
674
4 3 ,832
425
1,224
3.533
360
2,186
•II6
86
2,341
2,006
733
3.348
711
188
56,318
654
3,695
2,016
72,014
66
664
38
3,144
2,517
2,9bl
3,171
12,559
59 *455
500 - 1,000 ......
1,243
-
2,519
27
59
61454
332
1,602
2,108
69,348
46
857
q
J
567
2 ¡573
4,184
4,453
56,653
32
s
J§
12,689
1,000 and over......
Total.........
3,388,263
8,133,166
1,742,080
641,116
211,687
477,430
0
0
LT\
100 -
1
O
O
0
0
1
—1
313,633
1
0
Lf\
1 ,187,730
33,088
387,656
10 ......
233,178
97,622
5 -
Treasury Department, Division of Research and Statistics.
11 Excludes dividends on stock of domestic corporations and taxable interest on obligations
2f Interest received on 4 and 4 ^ percent Liberty bonds and Treasury bonds, owned in excess o
is subject to surtax if the surtax net income is over $4*000.
3_/ Excludes amounts reported in Schedule A as business deductions.
12,456,262
Sources of income adeductions, individual returns for 1334* "by nel income classes
(Honey figures in thousands of dollars)
(Returns filed to August 3 1 , 1935)
—
~----
Net income classes
(Thousands of dollars)
Number ;
0f
; Salaries,
returns ; wages,
;commissions,
fees, etc.
-- -
Business
IN C O M E
S 0 U R CE S O P
Interest on;
Government !Dividends on
Interest
Capital • Rents
stock of ¡Fiduciary other than
obligationsPartnership
and
net
;
1J
not wholly ; domestic I
tax-exempt
ll
ga.ir. s
.royalties
corporations;
exempt
D E D U C T I0 N S
Net loss Interest; Taxes
î Capital Net loss
paid 1 paid :
from
from
: net
; loss bus iness partnership
ìi
2/
;
Contri
butiions
$8 ,731,699 $8 7 ,419. $31,286
$12,081
$273,792 $318,445
$138,755
Other ' Total
t0tal
income ; income
All
other
Total
:
;
$384,921 $1,246,699
Net
income
$7,485,000
-
$428,481
$97,704
$511,701
$91,645
76,01b
11,569
286,840
6l,917
163,826
33,434
2,324,577
43.016
10,8Si
5,651
102,204
87 071
41,232
97,622
387,656
1,936,921
13,898
420,400
26,483
1,817,040
33,028
8,715
4,908
71,458
70]468
34,523
1,507,617
73,519
160,351
309,424
53,810
86,323
48,555
29,560
20,901
6,637
305,120
39,016
71,330
14,687
846,500
10,174
4,279
2,645
30,056
32 240
19 ,429
41,889
140,712
705,788
72,774
9,616
3.048
19,472
33,493
483,743
3,450
2,717
1,053
15,2d 1
19 855
13,492
404.548
19,036
8,921
79,195
40,569
221,716
23,368
20,555
795 d.
3,663
7,092
2,743
142,339
885
1,230
526
4,466
É
O 285
116,693
1,821
80,217
25,646
5,530
7.472
3,395
10,897
4,782
26,185
2,298
893
109,619
4,038
7,214
3,785
168,893
495
1,422
256
4,0 1 4
7 859
6,377
139,750
7,725
1,265
29,144
21,420
10,636
.8,721
684
674
36,853
3,154
1,614
52,404
85
443
1
X
1,224
0
z. ’87
43.832
3,479
1,092
8,572
425
360
2,l86
3,583
1,170
2,246
116
3,348
188
56,318
654
3,695
2,016
72,014
66
664
38
3,144
2,961
3,171
59,455
733
711
12,559
2,341
2,006
2
86
5
27
59
61,454
1,602
2,108
69,348
46
857
9
567
Éj,573
4,453
56,659
1,243
332
12,689
32
2,519
4,184
1,000 and over......
211,687
477,430
37,762
; 2,007,019
301,407
963,457
187,436
14,708,558 178,663
62,474
27,166
506,187
549 ,700
2,252,296
12,456,262
8,139,166
641,116
660,125
3,988,269
267 ,980
Total.........
$>854,899
$1,176,141
$205,377
5
10 .... ..
283,178
1,187,730
313,639
150,517
39,088
10
25 ......
102,488
699,068
172,524
148,432
25
50 ......
20,851
235,379
51.097
50
100 ......
6,073
107,319
100 -
150 ......
973
150
300 —
___
500 ......
1
3,568,788
LO
O
O
$52,846 $312,905
Under 5 (estimated) ..
500 - 1,000 -— .-...
1,742,08c
$
Treasury Department, Divi.’ion of Research and Statistics.
1J Excludes dividends on stoclc of domestic corporations and taxable interest on obligations of tne United States, wnich are reported under their respective classifications.
2J Interest received on 4 and 44" percent Liberty bonds and Treasury bonds, owned in excess of $5 ,0 0 0 , and on obligations of certain instrumentalities of the United States,
is subject to surtax if the surtax net income is over $4 ,000.
v
3/ Excludes amounts reported in Schedule A as business deductions-
-Sources of Income and deductions, individual returns for
M
(Returns f i l ed to ink*
Net income classes
(Thousands of dollars)
Under
8
(estimated) . .
........................
28 - 80 .................... '*.
80 - 100 .......................
100 - ISO .....................
180-300 .....................
300-500 .....................
800 - 1,000 .................
1,000 end over ...........
10-88
Number
of
returns
Salaries,
naces,
commissions,
fees, etc»
' Partnership'
Capital
net gala
Bents and
royalties
a
v
F
. ^ 56 2 7 ? ? 5?57279 000 •/,/7.6 /VI 050 l o S 37 7 000 V
52 2 7 ¿..00 0
X 2 2 /7 ?! /,/27 727 ¿¿7J3/ 3 ¿ 37 3¿9 ¡So s i 7 76 / 37 ft?2 3 ooi
------/o2 7 ? 8-1 ¿ 7? 062 3 6 ¿J 172 5 x 3 7 a.j.
UQ c r r 0:<i a
2 o 25/1 2 3 5 3 7 ? 525
5 /0 17 o 7f
I f Sl O 1
:00
72 7 77 037
6 ft 73 |/o 7 3/2 75/I 2o 5 5 7 7¿ / yo 5¿2 6/5 If 0 3l ft 32
773
X¿ 177 5?6
3 3 7 5 X57 /ft 277 3l l
5 529 ¿ 7 ?!
627 2/ 7x0 /a 3 9 1 i f 7 S i x 10 ¿ 3 ¿ /y?
7 7i f 2 ? 5]
. Í/5LJ__ 3_il 2_l.fti.6X. - 7 x 5 76/
/ /7a 3 í <" X UI Q 19i 1
2¿ J
2 370 5/0 fi a oo 5 537 !
737 23/
3 3 7 2 3 ¿6
3 X|
/ 373 /oo I
2 5/2 97 7
3 97 2
A¿? 2,/3? /¿ 5
/
7 7 1/771 0 7
,i .!
1
?
773
¿7/ //5
973
X// ¿?¿
717
IIP
) I
1935
Deductions
Sources if income
Sources
interest pn
Oovernmen?* \ Dividends oaf
obligations
stock of i
“ L S p ? 11*
domestic j
from tax®
[ corporations^
# ~
ÍXIHÍ-L0
Fiduciary*
4Û
L 9 o5 ooo _
o IS ? 73¡ // s l f f f o >?¿239 23¿ j
5 2o9 ?Y7 : 13 ? 77 9 o3 y>o399 L s Á
)
i”! 6 I 3 I Si 13 oí l í o í e 7f
6/5 5ft ft S
3 oí)« Xf f . í í l 7IS 75 ?|
ïio 7</y! l i s /3 5 | ?o 2/7 357!
I 2 ? 3 3 XI /o? 6/7 /2 o J
3S f S 3il1 i 7f j-'j?. 3¿ i S3 /_2i l
7 /o
l ?7 7 ?¿|: Si 319 322|
!
73
*//¿|
26 ráfl
foO
XisIlf
777 7x7
í
,
31
y/
Capital
net less
Interest
ether than
tax-exempt
Net loss
from
bus iness
Net loss
from
partnership
Interest
paid*
| ) Taxes
! Vpaid*
Contributions!
1
"
5
*
*
»
ím I
77 I b y . o o o . Si i f o i 0 o 0 77 6 7 5 o o o :? ,731 ¿ 7? odd! 27-7 J 9 4 0 0. 3 / a 26 4 44 J l 0 g 1 0PÔ273 192 ooo 3 /.g Vy 5 ft 0 oT..13g 7S S o 00 3 ^V9 xy ooof x . f l f aff 000 7,yff ooo 000
77 ¿ 3-/ 577 3 27 ¿5 5 5 a/ /,93¿ 9 X/37 A
S é S o i l 3 /oX Xo3 995 ? 7 o 7 o 5/2 7/ >3/ 5 /7.
777!l l 3 3X S 7f í . 33 V 33 705113327 576 9/3 I 730/5 7/7J /o ?6 / 3 76
?4 3 >3 /32 3 «9 7>3 9>2 ¡Sol LLk £j ±M8 7 /5 d 5 5 *j f o g 0 5 5 7/ 7 5 ? ox 4._—¿o. f U isrn\ 3 7 5 x 3
26 v?a *ggj/g/7 oyc. y7o-i. 33 0X2 Xú 2
73 das 737 . II0 3 5
x 6 7 5 x 2 9 3 ft ft5 ¿ 3 l l 32 ayo /<>y /? 7 v? ?o? 7 / 222 557 /70 7ll ¿ 5 ¿ 7o 5 7 2 ? 3/7
7 a 7? ?¿9
370/5 65o |j 7/33 0 3^5 i f I f l f f s ' l 276 v 9? ?7o I /o /7 3 ¿73
;
2 7/7 3 if.
/ 4 5 x 573 I S z l l 79ft /7 ? 5 y 9 3 ¿ /3 7 2 / £77 1 A3 3¿7 7,o 7 7 ? /95 7>9 707 577
3377 a 7v</: 2 9 20 6 oaji 7 2 3 7 V3 o v r S 3 779 ? X/
52-5 6 5 ?
7720- xao. 777/ ?o¿ X5 ¿ 7 5 9 ? 3 //¿>¿9 x 4 ?X
2?7 2X9 I 1 234 /5 /j
¿ X 75 239
7 f i s f 7o
3 l ¡3 /5 7 | 7 of 1 00 3I 2. 7 y 3 V¿ 3 ¡I/*7A 3 3 g 6 7 5}
7 X / Xo 7 1 ? /y3 5 5 ¿ /39 779 i-a ?
/7 a/ 9 ft¿
2 5 5 259
¿ 3 7¿ 2xxJ
.7 2 5 ? 777
y 4/y /2¿
iy 03 7 £7 AJ 7 i l 3 77a; 3 7?5 7 Z3 /6 8 293 0 ? 5 |
797 79 9 |
/ax xay
_ V7
/
y aa?a
g x : 2.
.v t I X 2 V 5 7 7 f | A / 2¿ 3 22
S S 7 X //y 7 3 2 3X 3 yx-..
2 327
327 x
237
27 79 ¿ I _
.... 8xA55i
__ 3 I S 3 l 3c __ 111 3 9 ¿ g p 51 7 o 7 7 5 4 !
__
772X 2o
? q2 . _________2
¿6
3 27 /!
3
7 7 ?A¡!
3 /
V3 5
i 9 ¿ o 7 ¿?| 3 /7 o 523 ¡ i s s f 313 S f f S f 77X
37
2X
¿63
/!
/y
SV
f f7 j| X
2 5/7 /¿x|!
/¿X
6 5 77 ú |
Vf3Ixl 3 I f S / o f ; 2 o /4 o 7 7 ¡| 7z o /7 ¿651
256
9i||l
? ¿¿33 /..‘i
5
‘a 573
s l¿l¿ ?
s5
s l¿ j ¡Z
S 73 /o
/ô3 | 7 / 2 7 I 5/1 f f S 3 o 73 /> 6 ? ? 97 ? 5 ¿ ¿ 57 X 7 A
X /o7 7o3 67372 A7 /i
y¿ xx'vj
5
?56 9
/1
,
h fh
#
!
j-.nl!
/:
iffvifis
ZLap... I14À
si f h^sf
5
, by net income classes^
1984
3776
/ 60/ o/ ¡
/ ?Sl¡Z,oof o I? 229'; 3o/ Jol ¿o / 9¿3 y 57 X9 1 ; /27 7 3 5 ¿97/7,74? 5 5 ? 0X0 ¡172 ¿ 4 z ?o 7
n
!
6x777
17
¿6 5
j
For general explanations see pp<
.
includes dividends on stock of domestic corporations and taxable interest!on obligations of the
United States, which are reported under their respective classifications*
Interest received on Liberty 4 end 4j percent j'bonds and Treasury bends on a principal amount in excess sf
I t ,000 witch is ««vJeci to surtax i f the not income is over $6,000 (3s®! items • and So, Form 1060) ¡;
Xxeludss amounts reported in Schedule A as business deductions*
IU
7 7 5 5 0 6 / 2 6 6 7 2 5 y? 700 XX7 x ¿7 ??0 0 6 7 6 6 o /X 5 o 7 3 X 251 295 5X?/X,75¿ X¿X 77/
!
t
S
;
:
:
i
. •
t
st
;
• ;1
I1
I '
h 1
l¿,'
1
:
::
1*
fit
¡
:
!'
\
•
. -y :
!_
T
t
íi
t
i
!
*'%
,.!.-i!;/;*'
(
i
L.;l
1 J
p |£ ÿ
¿5
i i s l
jv
SK H H H M
I
1
1
!
¡4 ;
1
y -
i
*
'
:E k .
i .
-i—i—
i—1
. ' -llu___
a
L ■ ___ _________J .......i
R e l e a s e f o r Sunday
m o rn in g n e w sp a p e rs
n creases
and i n b u s i n e s s
are
show n i n
incom e t a x
incom e f o r
i n w ag es and s a l a r i e s
1934,
as
a p re lim in a ry re p o rt
re tu rn s
for
com pared w ith
1933,
on i n d i v i d u a l
1 9 3 4 m ade p u b l i c
to d ay
by t h e
t r e a s u r y D e p a rtm e n t•
The
re tu rn s
file d
sou rces
of
in
a g ain st
b u sin ess
for
and
e tc .,
for
on 1 9 3 3
is
an d p a r t n e r s h i p s
com pared w it h
Losses,
1934,
ca p ita l
re sp e cts
are not
in co m es
as
1933.
rep o rted
Incom e
as
$ 1 ,9 5 6 ,9 4 0 ,0 0 0
a g a in st
th e
strictly
Th e d e t a i l e d
rep o rt
$ 1 4 ,7 0 8 ,5 5 8 !
from
$ 2 ,3 8 3 ,1 9 6 ,0 0 0
in 1 9 3 3 .
are $2,252,296,01
$2,271,892,000
i n 1933
a r r e e tin g
an d p a r t n e r s h i p in c o m e
and l o s s e s
lo sses,
of
In com e fro m
fo r 1934
$ 8 ,1 3 9 ,1 6 6 ,0 0 0 t
list e d as deductions,
n et g ain s
seg reg ates
in com es.
for
is
and
•
rep o rted
as
an d p a r t n e r s h i p
1935,
sh o w s t o t a l
$ 7 ,1 9 6 ,8 2 8 ,0 0 0
1934 as
in d iv id u a l
d e d u ctio n s
rep o rt
sa la rie s,
covers
A ugust 3 1 ,
Th e r p p o r t
f or 1 9 3 4 .^
p re lim in a ry
w ages,
as
up t o
in c o m e
re tu rn s
th e
rep ort
1934
fig u re s
co m p arab le w ith
for
1934
i
in th e s e
th o se
f o r 193
in co m es f o l l o w s :
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, December 22, 1935,______ _
12-20-35.
Press Service
No. 6-56
Increases in wages a.nd salaries and in "business income for 1934, as compared
with 1933, are shown in a preliminary report on individual income tax returns
for 1934 made public today hy the Treasury Department.
The report covers individual returns filed up to August 31, 1935, and
segregates sources of income and deductions.
The report shows total incomes of $14,708,558,000 inreturns for
compared with $13,117,545,000 shown in the preliminary report
1934 as.
on 1933 incomes*
Income from wages, salaries, etc., is reported as $8,139,166,000 for 1934 as
against $7,196,828,000 for 1933*
Income from business and partnerships is
reported a.s $2,383,196,000 for 1934 as compared with $1,956,940,000 in 1933.
Losses, listed as deductions, are $2,252,296,000 for 1934, as against
$2,271,892,000 in 1933.
On account of changes in the law, affecting capital net gains and losses
and partnership income and partnership losses, the 1934 figures in these respects
are not strictly comparable with those for 1933*
The detailed report for 1934 income follows:
Sources of income and deductions, individual returns for 1934» %
net income classes
(Money figures in thousands of dollars)
(Returns filed to August 3 1 » 1935)
—
Ret income classes
('Thousands of dollars;
&der 5 (estimated) ..
5 10 25 -
150 -
1
0
0
1
0
0
cr\
cn
50 ....
1 0 0 __
150 —
300 —
6,073
973
684
500 —
II6
1,000 ---
86
1,000 and over.....
'Total... ••
32
3,986,269
235»379
107,319
51,097
20,555
397,656
1 ,936,921
1,817,040
33,028
8,715
4,908
71,458
70,468
34,523
86,323
309 ,424
1 ,507,617
846,500
10,174
4,279
2,645 I
30,056
32,240
19 ,429
41,889
140,712
705,788
14,687
483,743
2,717
1,053 ;
15,261
19,855
13,492
79,195
404,548
8,921
3,450
23,368
33,493
4,466
6,285
4,782
7,472
2,743
526
116,693
7,092
142,339
25,646
3,663
256
4,014
7,855
6,377
8,721
29,144
139,750
286,840
61,917
163,826
33,434
2 ,324,577
148,432
48,555
53,810
13,898
420,400
73,519
160,351
26,483
72,774
29,560
20,901
6,637
305,120
39,016
71,330
19,036
9,616
3,048
221,716
19,472
699,068
20,851
97,622
11,569
172,524
102,488
41,232
76,016
283,178
40,589
26,185
3 ,395/
10,897
21,420
2,298
10,,636
5 »530
1,821
1,230
795
80,217
893
109,619
4,038
7,214
3,785
168,893
495
1,422
7,725
1,265
85
443
2,387
8,572
43,832
52,404
2,186
3,154
1,614
2,246
1,092
1,224
36,853
1
X M
674
3,144
2,517
2,961
3,171
12,559
59,455
567
2,573
4,184
4,453
12,689
56,659
506,187
549,700
267,980
660,125
2,252,296
12,456,262
3,583
425
1,170
3,479
360
188
56,318
654
3,695
72,014
66
664
3,348
2,016
2,341
738
711
38 !
2,006
59
61,454
332
1,602
2,108
69,348
9
1,243
27
857
5
2,519
46
1,742,080
641,116
211,687
477,430
37,762
2 ,007,019
301,407
963,457
187,436
14,708,550 178,663
62,474
8,139,166
$7,485,000
87,071
39,088
150,517
$384,921 $1 ,246,699
102,204
$91,645
313,639
$138,755
5,651
$511,701
1,187,730
$273,792 $318,445
1
10,861
$97,704
$205,377
Net
income
43.016
$428,481
$1,176,141
| other
• Total
$12,08l
-
$5,854,899
\ All
$8,731,699 $87,419. $31,286
$52,846 $312,905
3,568,788
Contribut ions
ir\
100 -
25 ....
i
Total
income
Capital Net loss Net loss Interest* Taxes ;
paid ! paid :
from
from
net
loss bus ine ss partnership
3/
;
2/
j
00
QO
50 -
1 0 __
INCOME
Interest on
Number
Government Dividends on
Salaries, ;
jCapital • Rents obligations stock of ;Fiduciary Interest Other
of
Partnership
net
:
|Xd
other than income
wages,
I
Business
returns
domestic
not wholly
tax-exempt
commissions ,*
=J
; gain *royalties exempt
lJ
corporations
fees, etc. ;
from tax 2/
D E D U C T I0 N S
S O U R C E S OF
Treasury Department, Division of Research and Statistics.
of the United States, which are reported under their respective classifications.
1/ Excludes dividends on stock of domestic corporations and taxable interest on obligations
$5 ,0 0 0 , and on obligations of certain instrumentalities of the United States,
2/ Interest received on 4 and 4^ percent Liberty bonds and Treasury bonds, owned in excess of
is subject to surtax if the surtax net income is over $4 ,000 .
3/ Excludes amounts reported in Schedule A as business deductions.
1
27,166 1
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
friday, December 20, 1935*
Press Service
No. 6-57
The Treasury Department today issued a Treasury Decision concerning records
which employers of eight or more will be required to keep under Title IX of
the Social Security Act, which becomes effective January 1, 1936.
No special form of pay-roll records is prescribed.
Records must be main
tained adequate to show the gross pay-roll and the total taxable pay-roll, as
well as the number of persons employed from time to time.
amounts paid to particular employees are required.
No records of
Employers claiming to be
exempt from the tax should keep records to establish their exemption.
Requirements under any State unemployment compensation act are not
involved in this Treasury Decision.
The text of Article 2 of the Treasury Decision is as follows:
(a) Every person subject to tax under the Act shall, during
the calendar year 1936 or any calendar year thereafter, for each
such calendar year, keep such permanent records as are necessary
to establish:
*'(r) The total amount o£ remuneration payable to his employees
in cash or in a medium other than cash, showing separately, (a) total
remuneration payable with respect to services excepted by section 907
(c), (b) total remuneration payable with respect to services performed
outside of the United States, (c) total remuneration payable with
respect to all other services.
**(2) The amount of contributions with respect to employment
during the calendar year paid by him into any State unemployment fund,
showing separately, (a) payments made and not deducted (or deductible)
from the remuneration of employees,
(b) payments made and deducted
(or deductible) from the remuneration of employees, (c) payments
made with respect to services excepted by section 907 (c).
^(3) Such other information as will enable the Commissioner to
determine whether such person is subject to the tax and, if subject
to the tax, the amount thereof.
w(b) N o particular method of accounting or form of record is
prescribed. Each person may adopt such records an5 such method of
accounting as may best meet the requirements of his own business,
provided that they clearly and accurately show the information
required above, and enable him to make a proper return on the
prescribed form.
M(c) Records are not required to show the nuriber of individuals
employed on any day, but must show the total amount of remuneration
actually paid during each calendar month and the number of individuals
employed during each calendar month or during each such lesser period
as the employer may elect.
»(d) Any person who employs individuals during any calendar
year* but who considers that he is not an employer subject to the
tax (see paragraph D, above'), should be prepared to establish
by proper records (including, where necessaryr records of the
number of persons employed each day) that he is not a.n employer
subject to the tax.»
Copies of the Treasury Decision will be available at the Bureau of
Internal Revenue and at the offices of all Collectors of Internal Revenue
as soon as they can be printed and distributed.
Regulations under Title IX are in process of preparation, and will be
issued at an early date.
0 0 O 00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING PAPERS,
Saturday, December 21, 1935.
T27SÖ7ST— ----- 1---
Press Servie#
/
t
®
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts,
of 274-day Treasury bills, dated December 24, 1885, and
maturing September 23, 1936, which were offered on Decem
ber 18, were opened at the Federal Reserve banks on
December 20.
The total amount applied for was $138,165,000, of
which $50,070,000 was accepted« Except for one bid of
$50,000, the accepted bids ranged in price from 99«950,
equivalent to a rate of about 0«066 percent per annum,
to 99.935, equivalent to a rate of about 0.086 percent
per annum, on a bank discount basis. Only part of the
amount bid for at the latter price was acceptsd. The
average price of Treasury bills to be issued is 99.939
and the average rate Is about 0.060 percent per annum
on a bank discount basis.
'
TREASURY DEPARTMENT
Washington
JOR RELEASE, MORiTING PAPERS,
Saturday. December 21, 1935«
1 2 -20«35.
Press Service
N°* 6-58
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 274-day Treasury bills, dated
December 24, 1935, and maturing September 23, 1936, which were offered 6n
December 18, were opened at the Federal Reserve oanks on December 20.
The total amount applied for was $138,165,000, of which $50,070,000
was accepted.
Except for one bid of $50,000, the accepted bids ranged in
price from 99.950, equivalent to a rate of about 0.066 percent per annum,
to 99.935, equivalent to a rate of about 0.085 percent per annum, on a bank
discount basis.
accented.
Only part of the amount bid for at the latter price was
The average price of Treasury bills to be issued is 99.939 and
the average rate is about 0.080 percent per annum on a bank discount
basis.
ooOco
Present consumption compares with an average of
/3^/
*?St
gallons for the five year period 1910 to 1914 and an average of
gallons for the war period 1915 to 1919.
A
.
/
factor to be taken in considerationAin making a comparison with
prohibition f i g u r é i s the decreased use of tax~pa$w£g alcohol aid
neutral spirits for non-beverage purposes.
A substantial number
of products, which prior to prohibition^were made from tax paid
alcohol, are now manufactured from denatured alcohol twb
withdrawn free of tax
RELEASE
T
Preliminary figures releas^cKtoday by the Treasury Department
show that tax -paid withdrawals of d4^ti-l±ed~*sp±r±*s in November amounted
to 9,044,520 tax gallons. This figure exceeds tax-paid withdrawals for
the corresponding month of 1934 by 2,971,162 gallons, or 32.8 per cent.
Withdrawals of whisky amounted to 8,236,652 gallons compared with
5,342,119 gallons for November 1934.
/
^ - » ^ I n addition to the withdrawals of distilled spirits, 2,222,954
proof gallon^ of spirits -produced..-at -industrial alcohol plan%«r were
withdrawn tax-paid and 791,678 gallons of spirits were imported. In
November 1934 there were tax-paid 1,572,546 proof gallons of alcohol
and imports amounted to 864,545 proof gallons.
—***,»4—it?'
XiX
For the 12 months ended November 30, 1935, tax-paid consump_ tion of spirits amounted to 96,515,380 gallons, of which 67,892,109
galloi^were-^aesti^-^^trlied--^pir±4s*, 20,990,593 gallons were
alcohol , and 7,632,633 gallons,were imported distilled spirits. Allow/ing for seasonal variation, November consumption was at the annual rate
/ of 113,760,000 gallons.
TREASURY DEPARTMENT
Washington
Press Service
No. 6 - 59
FOR RELEASE, MORNING NEWSPAPERS,
Sunday. December 23, 1935,_____
12-21-35.
( In connection with Statistics on Distilled
Spirits, November 1935 previously made
available)
Preliminary figures released today by the Treasury Department show
that tax-paid withdrawals of whisky, rum, gin and brandy in November
amounted to 9,044,520 tax gallons.
This figure exceeds tax-paid with
drawals for the corresponding month of 1934 by 2,971,162 gallons, or
32.8 per cent.
Withdrawals of whisky amounted to 8,236,652 gallons
compared with 5,342,119 gallons for November 1934.
In addition to the withdrawals of distilled spirits, 2,222,954
proof gallons of neutral spirits were withdrawn tax-paid and 791,678
gallons of spirits were imported.
In November 1934 there were tax-
paid 1,572,546 proof gallons of alcohol and imports amounted to 864,545
proof gallons.
For the 12 months ended November 30, 1935, tax-paid consumption of
spirits amounted to 96,515,380 gallons, of which 67,892,109 gallon.s
represented whisky, rum, gin, and brandy, 20,990,593 gallons were neutral
spirits, and 7,632,633 gallons were imported distilled spirits.
Allow
ing for seasonal variation, November consumption was at the annual rate
of 113,760,000 gallons.
Present consumption compares with an average of 139,875,000 gallo
for the five year period 1910 to 1914 and an average of 122,154,000
gallons for the war period 1915 to 1919.
A factor to be taken in
sidération in mafcing a comparison with preprohibition figures is the
decreased use of tax-paid alcohol and neutral spirits for non-beverage
purposes*
A substantial number of products, which prior to prohibition
were made from tax paid alcohol, are now manufactured from denatured
alcohol withdrawn free of tax.
TREASURY DEPARTMENT
Office of the Secretary
December 23, 1935
a m e n d m e n t to p r o v i s i o n a l r e g u l a t i o n s
Issued Under the
GOLD RESERVE ACT OP 1S34
The Provisional Regulations issued under the Gold Reserve
Act of 1934, as amended, are hereby further amended effective January
1, 1936, in the following respects:
The following section is added after section 8:
nSec. 8a. Certificates with resuect to Imported Gold.-«Collectors of Customs shall, upon receipt of instructions
issued from time to time by the Secretary of the Treasury
with the approval of the President, refuse entry into the
continental United States of gold in the form and condition
described in such instructions, which is exported from the
country or countries specified in such instructions, unless
there is filed with the Collector of Customs at the port of
entry a certificate duly certified by an officer of the
country from which the gold is exported to the effect that
such gold was or may be lawfully exported from such country.11
The following section is added after section 1£:
11Soc. 1fa. Business names and representations generally,.-~
Ho person doing business under a name which is designed or is
likely to induce the belief that gold is being purchased,
treated, or sold on behalf of the United States, or for the
purpose of carrying out any policy of the United States, or
making representations or statements which might induce the
belief that such person is acting or is especially privileged
to act on behalf of or for the United States, or is purchasing,
treating, or selling gold for the United States, or in any way
dealing in gold for the purpose of carrying out any policy of
the United States, may acquire, transport, melt or treat, im
port, export or earmark Qr hold in custody for foreign or
domestic account any gold under authority of article II or III
of these regulations. M •
2
%
rao following is added at the end of paragraph (2) of section 16:
jind provifed fur ther, That fabricated gold of which not
more than 80 per cent of the total value is attributable to
the geld content thereof may be exported or transported from
the continental United States without the necessity of filing
aff id:
amended
to read as follows:
ion 18 is a
j
Unmelted scran gold,— Unmelted scrap gold
"Sec.
|
___
|
)id
jewelry,
watch cases, optical frames, dental
( such as ti
crowns and bridges, and the like, which have not been melted,
but not including filings, clippings, pieces, and the like)
may be acquired, transported within tne United otates, imported,
or held in custody for domestic account in amounts not exceeding
at any one time 35 troy ounces of fine gold without tne necessity
of holding a license therefor: Provided, Jioweygr, That no gold
which has been held at any time in noncompliance with the act of
March 9, 1233, any Executive orders or orders of the Secretary
of the Treasury issued thereunder, or in noncompliance with the
regulations prescribed under such orders or licenses issued pursuant
thereto, or which has been acquired and held, transported, melted
or treated, imported, exoorted, earmarxed, or held in custody in
violation of the Act or of regulations issued thereunder, in
cluding these regulations, or any licenses issued nursuant there
to, may be acquired, transported within the United States, imported,
or held in custody for domestic account under authority oi this
section.
"Persons holding licenses on form TUL-lUj
— SZ
TGL-14. or acquiring, transporting. .hnporting--ZXJ3Pl_4%3£.JplA
Tfdrsuant to section 21 of these r eg'j Iat ions, _
.»
transport, import or hold any gold iinffex,_^tjip,ri3xzf-_tbL^.
section."
Section 21 is amended to read as follows:
h Sec. 21.
Thirty-:ive-ounca Exempt ion.— Any person
regularly engaged in an industry, profession, or art, who
requires gold for legitimate, customary, and ordinary use
therein may import unmelted scrap gold, and may acquire
from the sources enumerated bolow gold in any form and may
hole*, transport, and melt and treat gold in any form which
has been so acquired or imported or which is lawfully held
hy such person, for the purposes specified in subdivisions
a
and B below, without the necessity of Obtaining a license
therefor, provided the aggregate amount of such gold does
not exceed at any one time *35 troy ounces of fine gold:
A.
In any form, for fabrication or use by such
person In the industry, profession, or.art in
which he is engaged;
B.
In the form of unmelted scran, for furnishing
in unmelted form to persons authorised under
these regulations or licenses issued pursuant
hereto to acquire unmelted scrap gold, or for
offering in unmelted form for sale to the United
States.
Such persons are authorized under this section to acquire,
for the purposes enumerated above, only gold which is —
(1) held by a person authorized to hold it in such
form and amount under a license on form TO-L— 12
or TG-L-13;
(2) held by a person authorized to hold and dispose
of it in such form and amount under a license
on form TG-L-14;
(3) held by a person who, under these regulations,
is authorized to hold and dispose of such gold
in such form and amount without a license; or
(4) offered for sale by a United States mint or assay
office.
"Persons acquiring, holding, transporting, melting, treating
or importing gold under authority of this section are not
authorized
(l)
*
to sell or otherwise dispose of gold, except in
the form of unmelted scrap gold ( as provided in
subdivision B above), fabricated gold, metals
containing not more than 5 troy ounces of fine •
Tne amount which may thus be acquired, held, transported or
imported is in addition to gold which may he acquired, held,
transported and imported without a license under any section
of these regulations other than section 18.
4 -
gold per short ton, or gold in its natural state:
provided, however. That gold tilings, clippings
and the like, which are not acquired "by any such
person in such form, out which a.ccrue directly
from, and as a result of, the legitimvate, customary,
and ordinary conduct of the industry, profession,
or art in which such person is engaged, raa.y "be dis
posed of in that form to persons who are authorised
under licenses issued pursuant to these regulations
to acquire such gold, or may "be offered in that form
for sale to ino United States:
(2) to acquire, hold, transport, m elt or Jirejgj^_
gold coin or gold derived "by any person_from—gold.
coin or any gold wh ich has been heid__at_...any— bj.me— in
no no omul iance w ith the act ot Marco_any
Executive orders or orders of
Treasury issued therepMer^jirJil^Sng^2ltegAJ5L3^
the regulat ions proserihed u nder such cpders..or.
Llcenses issued pursuant_thereto,..or__which ha.s.,been
acquired and held, transported, melted_pjpjfrept_ed,
imported, exported, or held in custody in violabiqn
of the Act or of regulations issued thereunder— in
cluding: these regulations or any, licenses issued
pursuant thereto.
n?ersons holding licenses on form TGL—12A TDLrpljL1...
or acquiring, transportingf importing,_ojh„^lding_jgolc^mr3uant
bo section 18 of these regulations may not acquire.,— uold,— trans—
port, import, or melt or troat any gold under authority—of
this section.»
ion 26 is amended to read as follows:
»Sec. 26. Records.— Every person holding a license
issued pursuant to section 23 snail keep exact records of
all his acquisitions and deliveries of gold. His records
shall contain the. name, address, and license number of
each person from whom he acquires, or to whom he delivers,
gold (other than fabricated gold) and shall show the amount,
date, and description of each such acquisition and delivery,
and such records shall be available for examination by a
representative of the Treasury Department for at least 1
year after the date of the disposition of suert gbld. If
the person from whom such gold is acquired, or to whom such
gold is delivered, does not have a license suen records
shall show, in lieu of the license number of such person,
- 5 -
the section of these regulations pursuant to which such gold
was held or acquired by such person.”
Section 27 is amended to read as followsf
11Sec. 27. Reports.— .3very person holding a license
on form TGL-12,- TGL-13* or TGL-14 shall make quarterly
reports on form TGR-12, TGR-13, or TGR-14, respectively*
for the quarterly periods ending on the last days of
January, April, July, and October, respectively, and shall
file such report's with the Director of the Mint» Washington,
D. C. Reports on form TGR-12 and TGR-14 shall be filed
within 15 days, and reports on form TUrR-13 shall be filed
within 25 days, after the termination of the quarterly
period for which such reports are made.11
The first sentence of section 33 is amended to read as follow*:
”Gold may be imported, and transported for prompt
export, anA exported, without the necessity of holding a
license, provided the gold is exported promptly and re
mains under customs custody throughout the period during
which it is within the customs limits of the United States.”
Section 36 is amended to read as follows:
”Sec. 36. Deposits.— Deposits of gold described in
section 35 and rulings issued thereunder will be received
in amounts of not less than 1 troy ounce of fine gold
when deposited in the following forms: nuggets, grains,
and dust which are in their native state free from earth
and stone, or nearly so, retort sponge, lumps, unmelted
scrap, coins, bars, kings, buttons, and filings, clippings,
pieces, and the like. Deposits of gold shall not contain
less than 200 parts of gold in 1,000 by assay. In the case
of gold forwarded to a m^nt by mail or express, a letter
of transmittal shall be sVnt with each package. When there
is a material discrepancy between the actual and invoice
weights of a'deposit, further action in regard to it will
be deferred pending communication with the depositor.”
Section 43 is amended to read as follows:
”Sec. 43. Each mint is authorized to sell gold to
persons holding licenses on form TGL-13 or TG-L-14, or to
6
persons authorized under section 21 cf these regulations
to acquire such gold for use in industry, profession, or art:
Provided, however. That no mint may sell gold to any oerson
in. an amount which, in the opinion of such mint, exceeds the
amount actually required by such person for a period of 3
months. Prior to the sale of any gold under this article,
the mint shall require the purchaser to execute and file in
duplicate an affidavit on form TGr-24, or, if such purchaser
is in the business of furnishing gold for use in industries,
professions, and arts, on form TG-25. The mints are author
ized to refuse to sell gold in amounts less than 25 ounces,
and shall not sell gold under the provisions of this article
to any person who has failed to comply with these regulations
or the terms of his license.”
Section 44 is amended to read as follows:
”$ec. 44. Sale -price.— The mints shall charge for all
gold sold under this article $35.00 (plus one-fourth of 1
per cent) per troy ounce of fine gold plus the regular mint
charges. This price may be changed by the Secretary of the
Treasury without notice other than by notice of such change
mailed or telegraphed to the mints.”
T. J. COOLIDOS,
Acting Secretary of the Treasury.
Approved:
FHAMLIN D. B00SEVELT
The White House
December 24, 1935,
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
December 23, 1935.
RECEIPTS QE SILVER BY THE MINTS AND ASSAY OFFICES;
(Under Executive Proclamation of December 21, 1933) as amended
Week ended December 20, 1935:
Philadelphia............... .....................
San Erancisco*................................. .
Denver.
.................................. .
Total for week ended December 20, 1935............
Total receipts through December 20, 1935..........
~
499,121*00 fine ounces
6,265*95
11
»
505,386*95
,f
58,574,000*00
11
•»
5IDVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended December 20, 1935;
Philadelphia.............. ......................
New York............... .........................
fr San Prancis co,.............. ....................
Denver....... ...................................
New Orleans.................................... .
Seattle..........................................
Total for week ended December 20, 1935*..,..... .
Total receipts through December 20, 1935....... .
365*00 fine ounces
n
tt
5,287*86
if
it
459.00
»
tf
709.22
it
it
174.87
If
IT
135.10
if
if
7,131.05
ti
ft
112,189,729.15
RECEIPT SQE SOLD 3Y THE :rINTS AND ASSAY OEPICES:
Week ended December 20, 1935;
Imports
Philadelphia...... ..................$
2,286.62
New York................... *........ 12,190,900.00
San Erancisco.......................
1,463,934.68
Denver...................... ..... ..
78,233.04
New Orleans.........................
- - Seattle..................
2,885*82
Total for weekended December 20, 1935.$13,738,240.16
New
Secondary
Domestic
165,76
$167,584.90 $
220,700,00
75,600.00
30,827,04
1 ,729,596.51
532,847.03
32,956.14
509,04
23,056,65
372,204.44
16,500.80
$491,625*53 $ 2 ,710,922.78
COUP RECEIVED BY EEDERAL RESERVE BANKS AND THE TREASURER*S OEEICE;
(Und°r Secreta.ry’s Order of December 28, 1933)
Received by Federal Reserve Banks;
Gold Coin
Week ended December 18........ . $
14,329**72;
Received Previously...... .
31,021,887.23
Total to December 18.......... , '$31,036,216*95
Received by Treasurer’s Office;
Week ended December 18....... .
Received previously.
........
Total to December 18...........
ROTE;
$
$
' 0.00
266,456.00
266,456.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
Gold Certificates
$
211,220.00
100,912,030.00
$101,123,250.00
$
$
8,800.00
2.d à * 700.oo
2,321,500.00
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING PAPERS,
Saturday, December 28, 1985»
12/27/35
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000* or thereabouts,
of 274-day Treasury bills, dated December 31, 1985, and
maturing September 30, 1936, which were offered on Decem
ber 24, were opened at the Federal Reserve banks on Decem
ber 27*
The total amount applied for was $79,312,000, of which
$50,000,000 was accepted* The accepted bids ranged in price
from 99.950, equivalent to a rate of about 0*066 percent per
annum, to 99*935, equivalent to a rate of about 0*085 percent
per annum, on a bank discount basis* Only pert of the amount
bid for at the latter price was accepted* The average price
of Treasury bills to be issued is 99*939 and the average
rate is about 0*080 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- PAPERS,
Saturday. December 38, 1935..
12/27/35
Press Service
No. 6 — 60
Secretary of the Treasury Morgenthau announced last evening that
the tenders for $50,000,000, or thereabouts, of 274-day Treasury bills,
dated December 31, 1935, and maturing September 30, 1936, which were
offered on December 24, were opened at the Federal Reserve banks on
December .27.
The total amount applied for was $79,312,000, of which $50,000,000
was accepted.
The accepted bids ranged in price from 99.950, equivalent
to a rate of about 0.066 percent per annum, to 99.935, equivalent to a
rate of about 0.085 percent per annum, on a bank discount basis.
part of the amount bid for at the latter price was accepted.
Only
The average
price of Treasury bills to be issued is 99.939 and the average rate is
about 0.080 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
December 30, 1935.
MEMORANDUM EQR THE PRESS
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES;
(Under Executive. Proclamation- of December 21,1933) as amended
Week ended December 27, 1935:
Philadelphia .............................. .
San Francisco ........................ ........
Denver .................... •......... ......... .
Total for week ended December $ % 1935 ...... .••••
Total receipts through December 2<7, 1935 .........
143,744,38 fine ounces
271,072.42
"
H
7,371.42
n
"
422,188.22
"
"
"58,996,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended December 27, 1935:
Philadelphia.... ........ ................
New ;York .... .............. ...............••
San Francisco ................................
Denver .... .......................... .......
New Orleans ...................................
Seattle ..................................... .
Total for week ended December 27, 1935 ......... .
Total receipts through December 27, 1S35 ....... .
RECEIPTS OF COLD BY THE MINTS. AND1 ASSAY OFFICES:
_____ Imports
Week ended December 27, 1935:
$
20,781.95
Philadelphia ............
9,854,800.00
New York ............. .....
381,395.99
San Francisco ........ .....
22,058.75
Denver
..... . .........
New Orleans ........ .......
Seattle ....................
.$10,279,036.69
Total for week ended December 27
7,973.00
16,091.02
887.00
645,39
-, 194.88
169.01
25,960.30
112,215,689.45
Secondary
"
n
n
”
"
"
"
"
H
H
t!
V
New
Domestic
$105,302.02 $
999.53
78.,200.00
31,300.00
32,718.87
1,150,670.77
18,928.59
512,281.92
24,098.98
. 834.69
13,530.95_
401., 553,24
$272,779.41 •'•$2,097,640.15
BANKS AND THE TREASURER1S OFFICE:
GOLD RECEIVED BY FEDERAL RESERVE
:
(Under Se cr etary1s Or der of December 28, 1933)
Cold Certificates
Received by Federal Reserve Banks:
Cold Coin
$
* 272,070.00
Week ended December 24 ....... $
10,800.44
101,123,250.00
Received Previously .........
31,036,216.95
$101,395,320.00
Total to December 24.............. $31,047,017.39
Received by Treasurer’s Office:
$
4,100.00
Week ended December 24 ......
$
000.00
2.321.500.00
Received previously .........
266,456.00
$2,325,600.00
Total ta December 24 ..... '.....
$ 266,456.00
'ftOTE:
Cold’-bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
-
2
-
(b) to deal in unmelted scrap gold provided the amount of such
gold, together with all other gold (except fabricated gold)
held by any such person at any one time does not exceed 35
fine troy ounces of gold.
(c) to dispose of gold filings, clippings, pieces, and the like
which result from the legitimate, customary and ordinary
conduct of the industry, profession or art in which they are
engaged to persons holding appropriate Federal gold licenses
as well as to the United States.
In view of this amendment a large percentage of licenses issued by the Federal
Government to manufacturers, jewelers, dentists and other persons who have
required gold for use in industry, profession or art, will also become un
necessary.
3.
Every person dealing in gold whether or not he is required to hold a
license is prohibited from doing business under a name or making any statements
or representations sounding governmental.
The regulations have heretofore con
tained a similar provision, but only with respect to licensees.
4*
Heretofore persons were required to file affidavits in order to be
able to export from the United States fabricated gold articles, regardless of
the value of the gold content of such articles.
Under the present amendment,
such gold articles may be exported from the United States without the necessity
of filing an affidavit if not more than 80 per cent of the total value of the
article is attributable to the gold content thereof.
This will have the effect
of relieving many industrial concerns from the necessity of filing affidavits
in connection with the exportation of fabricated articles containing a compara
tively small percentage of gold.
The text of the amendment is as follows;
TREASURY DEPARTMENT
Washington
Press Service
No.
The Secretary of the Treasury, with the approval of the President, has
issued an amendment effective January 1, 1936 to the Provisional Regulations
issued under the Gold Reserve Act of 1934 which amendment will have the effect
of removing some of the restrictions on dealings in gold for industrial, pro
fessional and artistic purposes.
The more important changes which will result
from such amendment are as follows:
1.
Unmelted scrap gold may be acquired, held and disposed of in amounts
not exceeding at any one time 35 troy ounces of fine gold^ without the necessity
of holding a Federal gold license.
In view of this amendment the' great percent
age of licenses issued by the Federal Government to dealers in unmelted scrap
gold will become unnecessary.
2.
Under the regulations in effect prior to this amendment small manu
facturers, jewelers, dentists and other persons regularly engaged in an industry,
profession or art in which gold is required have been permitted to acquire gold
in any form, for use in their respective industries, professions, and arts.
They
were permitted to do this, without the necessity of obtaining a Federal gold
license, provided the gold was acquired from licensed dealers and the amount of
such gold held at any one time did not exceed 2$ fine troy ounces.
They will now
be permitted without the necessity of obtaining a Federal gold license —
(a) to acquire for such purpose gold in any form from any
lawful source provided the amount of such gold held by any
such person at any one time does not exceed 35 fine troy
ounces.
* I *
(b) to «Imi in uaaaXted sorap gola proaidad th# amount of moki
gola» tog#th«r «ttb all otfeor gold («xeapt fatarle*tad gold)
baia by eay mo& parsoli &t «njr ©no ti»# d o « not «cosd 55
fin® troy oonc©# of gold#
(c) io dispose of gold filings» clippingo» pi#©«» and tfea liba
wàioh r»«axXt troia tha legitimeto» euista»&ry «ad ordinar^
eonùue* of
iadastry, prof©osimi or art in afetch thagr nrs
ansafad io p#r#4m« holding appropriata foderai gold Ile«®#»
*g «sali a# èo Hi# United Stata*»
la i?i#w of tàii® aaandnant » larga pasraa&taga of llea&naa lasuad by ih# Federai
QovsroyisEit to a#ainftttror#$ geaaXers* atignilst# sud óthar
#to «ara
ra^pìroò gold for '«14# ili indù®ùy, prefetti« or eri» aill *1«P beo©»# *s~
aeeaa^mry*
3.
Ir#ry
p®mm 4m«Ung
He«ne# la probioitod fraisi doing
In gold nhatlnr or noi ho ir rtMtéif to hold a
ÌHx»inm% màm &. nmv& ori m tim
or r®pr#6*$àtittloti# Mtfinding getori*H#nbhX«>
tftisod a aittilar
4«
H a ra b e le ra p o r # « #
Mi
orni# mi Hi
W
*tatcw»t*
2ha regdl&tion«3 fesw barato.tara con*»
roepeel to lie<ma*«&»
w a r e r o ^ iu d r o d i o
filo
n .f f l d s r l t * s
In
a rd e r to
be
ubi# to aacport Iran ih# Bniiod State# fatarleated gold ertfeiesi» regardlea# of
ilio wltie of Hi# gold eantenb #£ asseta «rtlliae*
ttadas* thè prandi
sueh gold artici#® gay ba aatportod ff*s® thè Unitesi dtataa- ai itaoufc thè
né®&mi%y
of filiag sm affidavit il noi nere ttaen SO -per eant of tho total faln® of ih#
.artici© la nbtritamble to tba gold oentent ttaeraef# Ibi* will tmr& Hi# offaot
of relìeving
mmy initatriai
aoao«mo £ro» tb# aeaaaoily of filini &m4a*ifc»
in aonnaetian wltb tfe# «qpartfttl#» of fatarlo#t*d arilola* contala!»* a Gomp&rs,tively anali p@rcon.tego of gold#
rmmm vwrnmmt
Washington
T r m & Service
H®* 6_g]_
FOR
IMI-SPIATE RELEASE
December 31, 1935.
7 !'ì© Secret^ ?y #? the Treasury* ■with th* Sf^rovaX of the i^csidsntjp ■•&&#■
issued ua aa«»d»Mtti effective Januft*y 3.» 3.936 to the
Um *i
of
under the Gold Reserve
Act
Pr&rUiomJ. m$pl&Um*
of 1914 rite» amcndnsni * d U have the
rew&vijig so®® of the reptyict&ona on dealings 5a igsld
fesalon&l and artistic
effect
lndnet3sdUiX.v
The acre Sjaportsai changes uhl-sh id.ll result
from -such imHBtdsitit are ## follow®!
X# WbeeXtsd
fold iitay he »c^uirtd* iirid end disposed of is*
aot «weeding et any one timo 35 t*qy « i l l of. fin® #$¿9 without the necessity
of holding a M a r a l gold U m t m . 3» view of this
$»MA»«nt
the great ;p#rc«mt-
ago of 11eeeeee issued by the M a r a l Governa«! t to dealer# In m & l t e d s^irap
gold « H i hecc«® w M m m i y «
Z*
Dudor the regalati®»» 1© effect prior to ibi#
mmti&mt
»all
mm*»
fiteturers» Jewelorv# dentists Mid other p®sr*o®e regularly engaged in aa industry#
profession or $rb in «fcloh gold 1$ required have heee pevKlttftd to &e«piire ^old
in ®cy for«* for use la their respective industries* professions» ^ d art##
©X'ty
ware pereltted to do ¿¡j% without the necessity of obtaining a Federal gold
license, provided the gold wa* acquired from licacised denier# and’ the asount of
BUCh
gold held at any one tine did not **e««4 25 fine troy ounce#*
they «**•* no*
be pensltted without the necessity of obtaining a Federal gold linea«« —
(a) to acquire for such parpom* gold in any form fro® any
lawful source provided the amount of such gold held by «ny
atush parion at any one time doe# not e&ceed 35 U n ® trey
ounces*
TREASURY DEPART! ENT
Uashingtdn
Press Service
R0. 6-61
FOE IMI.CSDIATB RELEASE
December 31, 1935.
The Secretary* of the Treasury, with the approval of the President, has
issued an amendment effective January 1, 1936 to the Provisional Regulations
issued under the Gold Reserve Act of 1934 which amendment will have the effect
of removing some of the restrictions on dealings in gold for industrial, pro
fessional and artistic purposes.
The more important changes which will result
from such amendment are as follows:
1.
Unmelted scrap gold may he acquired, held and disposed of Ah amounts
not exceeding at any one time 35 troy ounces of fine gold without the necessity
of holding a Federal gold license*
In view of this amendment the great percent
age of licenses issued by the Federal Government to dealers in unmelted scrap
gold will become unneeessary.
2.
Under the regulations in effect prior to this amendment small manu-
factiirers, jewelers, dentists and other persons regu larlv engaged in an industry,
profession or art in which gold is required have been permitted to acquire gold
in any form, for use in their respective industries, professions, and arts.
They were permitted to do this, without the necessity of obtaining a Federal
gold license, provided the gold was acquired from licensed dealers and the amount
of such gold held at any one time did not exceed 25 fine troy ounces.
They will
now be permitted without the necessity of obtaining a'Federal gold license-*(a) to acquire for such purpose gold in any form from any
lawful source provided the amount of such gold held~bjr .
any such person at any one time does not exceed 35 fine
troy ounces*
-
00
2
-
to deal in unmelted scrap gold provided the amount of such
gold, together with all other gold (exceot fabricated gold)
held by any such person at any one time does not exceed 35
fine troy ounces of gold*
(c) to dispose of gold filings, clippings, pieces, and the like
which result from the legitimate, customary and ordinary
conduct of the industry, profession or art in which they are
engaged to persons holding appropriate Federal gold licenses
as well as to the United States.
In view of this amendment a large percentage of licenses issued by the Federal
Government to manufacturers, jewelers, dentists and other persons^who have
required gold for use in industry, profession or art, will also become un
necessary.
3*
Svery person dealing in gold whether or not he is required to hold a
license is prohibited from doing business under a name or making any statements
or representations sounding governmental.
The regulations have heretofore con
tained a similar provision, but only with respect to licensees.
4*
Heretofore persons were required to file affidavits in order to be
able to export from the United States fabricated gold articles, regardless of
tne value of the gold content of such articles.
Under the oresent amendment,
such gold articles may be exported from the United States without the necessity
of filing an affidavit if not more than 80 -per cent of the total value of the
article is attributable to the gold content thereof.
This will have the effect
of relieving many industrial concerns from the necessity of filing affidavits
in connection with the exportation of fabricated articles containing a. compara
tively small percentage of gold.
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DÜRING THE MONTH OF
_________________ DECEMBER 1935_______________________
Receiverships:
Date o f
F a ilu re :
T o ta l
Disbursem ents
in clu d in g
O ffs e ts Allow ed:
First National Bank, Wakaurusa, Ind*
First National Bank, Ayrshire* Iowa
Fanners National Bank* Glenwood City* Wise*
First National Bank, Dickinson* Texas 1/
Clyde National Bank* Clyde* Texas
1 0 -3 -3 3
8 -1 2 -3 0
8 -2 2 -3 ®
1 2 -1 9 -3 3
1 1 -1 4 -3 3
First National Bank* Monte Vista* Colo*
Guernsey National Bank, Cambridge, Ohio 1/
First National Bank* Mountain Lake* Minn*
Gregory National Bank* Gregory* S* Dak*
Carlton National Bank* Wauchula* Sla*
2 -8 -3 2
6 - 2 9 -3 2
6 - 1 2 -3 1
H - 25-25
2 - 21-29
1 3 6 ,4 1 6
7 3 .2 5 8
2 1 0 ,4 3 8
37^ *227
3 1 8 *0 5 6
First National Bank* Shenandoah* Iowa
First" National Bank, Elk Point, S* Dak*
Broadway National Bank* Denver, Colo*
First National Bank, Roy, Montana
5 -1 3 -2 6
1 2 -1 6 -3 0
1 -1 6 -2 6
2 -1 1 -3 0
6 6 4 ,8 3 7
138*022
1 .8 7 4 .0 5 3
4 8 .6 5 9
y
$
112,172
1 1 4 ,8 4 8
156,649
1 4 .0 5 5
7 3 ,6 7 6
P er Cent
T o ta l
Returns
to a l l
C r e d ito r s :
P er ce n t
Dividends
Paid
Unsecured
D e p o s ito rs :
1 0 5 .5 0
6 8 .1 0
66*61
1 0 9 .9 7
1 0 7 .9 0
5 1 .9 7
5 5 .7 5
61*65
41*17
61*56
2 4 .5 7
7 8 .0 9
7 9 .9 4
9 9 .1 5
8 2 .1 5
88*16
7 4 .6 5
29*00
6 4.77
4 9 .7
64.92
6 5 .2 9
41*12
8 0 .6 3
68*09
4 7 .0 9
7 7 .7 1
4 1 .8 5
Receiver appointed to levy and collect stock assessment covering deficiency in value of
assets 3old* or to complete unfinished liquidation*
The First National Bank of Roy, Montana, in receivership February 11
1930$ disbursements, including offsets allowed, to depositors and other
creditors aggregated $48,659» which represented 68*09 per cent of total
liabilities*
Unsecured depositors received dividends amounting to 41*85
per cent of their claims.
Dividend payments during December 1935 by all receivers of
insolvent national banks to the creditors of all active receiverships
aggregated $17,$2,026.
Dividend payments to the creditors of all active receiverships
from October 31, 193-4, the date of the Comptrollers last Annual Report
to Congress, to December 31, 1935, aggregated $145,137,369.
-3-
The Gregory National Bank of Gregory, South Dakota, in receivership
November 25, 1925; disbursements, including offsets allowed, to depositors
and other creditors aggregated $372,227, which represented 88.16 per cent
of total liabilities.
Unsecured depositors received dividends amounting to
29 per cent of their claims.
The Carlton National Bank of Wauchula, Florida, in receivership Feb
ruary 21, 1929; disbursements, including offsets allowed, to depositors and
other creditors aggregated $313,056, which represented
liabilities.
64.77 per cent of total
Unsecured depositors received dividends amounting to 49*7 per
cent of their claims.
The First National Bank of Shenandoah, Iowa, in receivership May 13,
1926; disbursements, including offsets allowed, to depositors and other
creditors aggregated $664,337, which represented 64*92 per cent of total lia
bilities.
Unsecured depositors received dividends amounting to 4L.12 per cent
of their claims.
The First National Bank of Elk Point, South Dakota, in receivership
December 16, 1930; disbursements, including offsets allowed, to depositors and
other creditors aggregated $138,022, which represented 65.29 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 47.09 per
cent of their claims.
The Broadway National Bank of Denver, Colorado, in receivership Jan
uary 16, 1926; disbursements, including offsets allowed, to depositors and
other creditors aggregated $1,874,053, which represented 80.63 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
77.71 per cent of their claims.
The First National Bank of Dickinson, Texas, in receivership December 19,
1933, the liabilities of the institution having theretofore been assumed by
another bank.
The Receiver was appointed for the purpose of collecting an
assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during receivership, including offsets allowed, aggregated $14,055
which represented 109.97 per cent of total liabilities and there was returned to
the stockholders the sum of $299 together with the assets remaining uncollected.
The Clyde National Bank of Clyde, Texas, in receivership November 14, 1933$
disbursements, including offsets allowed, to depositors and other creditors aggr
gated $ 7 3 ,6 7 6 , which represented 6 1 .65 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 41*17 per cent of their claims.
The First National Bank of Monte Vista, Colorado, in receivership Febru
ary 8, 1932; disbursements, including offsets allowed, to depositors and other
creditors aggregated $136,416, which represented 61.56 per cent of total lia
bilities.
Unsecured depositors received dividends amounting to 24.57 per cent
of their claims.
The Guernsey National Bank of Cambridge, Ohio, in receivership June 29,
1932, the liabilities of the institution having theretofore been assumed by
another bank.
The Receiver was appointed for the purpose of collecting an
assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during receivership, including offsets allowed, aggregated
$73,256 which represented 99.15 per cent of total liabilities.
The First National Bank of Mountain Lake, Minnesota, in receivership
June 12, 1931; disbursements, including offsets allowed, to depositors and
other creditors aggregated $210,438, which represented 82.15 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 79*94 Per
cent of their claims
TREASURY DEPARTMENT
The Comptroller of the Currency, J.F.T. 0 »Connor, today announced the com
pletion of the liquidation of 14 receiverships during December, 1935, making a
total of 187 receiverships finally closed or restored to solvency since his last
Annual Report to Congress dated October 31, 1934*
Total disbursements, including
offsets allowed, to depositors and other creditors of these 187 institutions,
exclusive of the 12 receiverships restored to solvency, aggregated $48,272,151,
or an average return of 72.94 per cent of total liabilities, while unsecured de
positors received dividends amounting to an average of 60*33 per cent -of their
claims.
The First National Bank of Wakarusa, Indiana, in receivership October 3,
1933; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 7.9 per cent.
Total pay
ments to creditors, including offsets allowed, aggregated $112,172 and the stock-j
holders received $4,376 together with the assets remaining uncollected.
The First National Bank of Ayrshire, Iowa, in receivership August 12, 1930; |
disbursements, including offsets allowed, to depositors and other creditors
aggregated $114,848, which represented 68.1 per cent of total liabilities.
Unsecured depositors received dividends amounting to 51*97 per cent of their
claims.
The Farmers National Bank of Glenwood City, Wisconsin, in receivership
August 22, 1930; disbursements, including offsets allowed, to depositors and
other creditors aggregated $156,649, which represented 66.61 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 55*75 Per
cent of their claims.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday, January 6 , 1936.
Press Service
No. 6-62
The Comptroller of the Currency, J.P.T. O ’Connor, today announced the
completion of the liquidation of 14 receiverships during December, 1935,
making a total of 187 receiverships finally closed or restored to solvency
since his last Annual Report to Congress dated October 31, 1934.
Total dis
bursements, including offsets allowed, to depositors and other creditors of
these 187 institutions, exclusive of the 12 receiverships restored to sol
vency, aggregated $48,272,151, or an average return of 72.94 per cent of
total liabilities, while unsecured depositors received dividends amounting
to an average of 60.33 per cent of their claims.
The First National Bank of Wakarusa, Indiana, in receivership October 3,
1933; depositors and other creditors were paid
100
per cent principal with
interest in full amounting to an additional dividend of 7.9 per cent.
Total
payments to creditors, including offsets allowed, aggregated $112,172 and
the stockholders received $4,376 together with the assets remaining uncol
lected.
The First National Bank of Ayrshire, Iowa, in receivership August 12,
1930; disbursements, including offsets allowed, to depositors and other
creditors aggregated $114,848, which represented 68.1 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 51.97
per cent of their claims.
The Farmers National Bank of Glenv/ood City, Wisconsin, in receivership
August
22,
1930; disbursements, including offsets allowed, to depositors
2
and other creditors aggregated $156,649, which represented 66.61 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 55.75 per cent of their claims.
The First National Bank of Dickinson, Texas, in receivership December
19, 1933, the liabilities of the institution having theretofore been assumed
b7 another bank.
The Receiver was appointed for the purpose of collecting
an assessment against the stockholders to cover a deficiency in the assets
sold.
Disbursements during receivership, including offsets allowed, aggre
gated $14,055 which represented 109.97 per cent of total liabilities and
there was returned to the stockholders the sum of $299 together with the
assets remaining uncollected.
The Clyde National Bank of Clyde, Texas, in receivership November 14,
1933; disbursements, including offsets allowed, to depositors and other
creditors aggregated $73,676, which represented 61.65 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 41.17
per cent of their claims.
The First National Bank of Monte Vista, Colorado, in receivership
February
8,
1932; disbursements, including offsets allowed, to depositors
and other creditors aggregated $136,416, which represented 61.56 per cent
of total liabilities.
Unsecured depositors received dividends amounting to
24.57 per cent of their claims.
The Guernsey National Bank of Cambridge, Ohio, in receivership June 29,
1932, the liabilities of the institution having theretofore been assumed by
another bank.
The Receiver was appointed for the purpose of collecting an
assessment against the stockholders to cover a deficiency in the assets sold.
Disbursements during receivership, including offsets allowed, aggregated
$73,258 which represented 99.15 per cent of total liabilities.
- 3 -
The First National Bank of Mountain Lake, Minnesota, in receivership
June 12, 1931; disbursements, including offsets allowed, to depositors and
other creditors aggregated $210,438, which represented 82.15 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
79.94 per cent of their claims.
The Gregory National Bank of( Gregory, South Dakota, in receivership
November 25, 1925; disbursements, including offsets allowed, to depositors
and other creditors aggregated $372,227, which represented 88.16 per cent
of total liabilities.
Unsecured depositors received dividends amounting to
29 per cent of their claims.
The Carlton National Bank of Wauchula, Florida, in receivership
February 21, 1929; disbursements, including offsets allowed, to depositors
and other creditors aggregated $318,056, which represented 64.77 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
49.7 per cent of their claims.
The First National Bank of Shenandoah, Iowa, in receivership May 13,
1926; disbursements, including offsets allowed, to depositors and other
creditors aggregated $664,837, which represented 64.92 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 41.12
per cent of their claims.
The First National Bank of Elk Point, South Dakota., in receivership
December 16, 1930; disbursements, including offsets allowed, to depositors
and other creditors aggregated $138,022, which represented 65.29 per cent
of total liabilities.
Unsecured depositors received dividends amounting to
47.09 per cent of their claims.
The Broadway National Bank of Denver, Colorado, in receivership January
16, 1926; disbursements, including offsets allowed, to depositors and other
creditors aggregated $1,874,053, which represented 80*.63 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 77,71
per cent of their claims.
The First National Bank of Roy, Montana, in receivership February 11,
1930; disbursements, including offsets allowed, to depositors and other
creditors aggregated $48,659, which represented 68.09 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 41.85
per cent of their claims.
Dividend payments during December 1935 by all receivers of insolvent
national banks to the creditors of all active receiverships aggregated
$17,462,026.
Dividend payments to the creditors of all active receiverships from
October 31, 1934, the date of the Comptroller’s last Annual Report to
Congress, to December 31, 1935, aggregated $145,137,369.
INSOLVENT NATIONAL BANKS LIQUIDATED AND EINALLY CLOSED
OH RESTORED TO SOLVENCY DÜRING THE MONTH OF
___________________DEOEKBER 1935______________________
Receiverships:
Date of
Failure:
Per Cent
Total
Returns
to all
Creditors,:
Per Cent
Dividends
Paid
Unsecured
Depositors:
112,172
1 1 *4 ,3*48
156,6U9
iU. 0 5 5
73.676
105.50
68.10
66.61
109.97
61.65
107.90
51.97
55-75
71.65
*4 1 . 1 7
2-8-32
6-29-32
6-12-31
11-25-25
2-21-29
136,Ul6
73,258
210, *438
372,227
318,056
61.56
99.15
82.15
88.16
61.77
21-57
78.09
79.91
29.00
19.7
5-13-26
12-16-30
1-16-26 '
2-11-30
66*4,837
138,022
6H.92
6 5» 2 9
80.63
68.09
*4 1 .12
17.09
77.71
U1.85
First National Bank, Wakaurusa, Ind.
First National -Bank, Ayrshire, Iowa
Farmers National Bank, G-lenwood City, Wise.
First National Bank, Dickinson, Texas 1/
Clyde National Bank, Clyde, Texas
10- 3 -3 3
8-12-30
8-22-30
12-19-33
11-1*4-33
First National Bank, Monte Vista, Colo.
Guernsey National Bank, Cambridge, Ohio ij
First National Bank, Mountain Lake, Minn.
Gregory National Bank, Gregory, S. Dak.
Carlton National Bank, Wauchula, Fla.
First National Bank, Shenandoah, Iowa
First National Bank, Elk Point, S. Dak.
Broadway National Bank, Denver, Colo.
First National Bank, Hoy, Montana
1/
Total
Disbursements
including
Offsets Allowed:
$
1 .8 7 4 , 0 5 3
Us,659
Receiver appointed to levy and collect stock assessment covering deficiency in value of
assets sold, or to complete unfinished liquidation.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
January 6, 1936
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OEEICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended January 3, 1936:
Philadelphia.............. ................ ......
San Prancisco...................... ..............
Denver................. . ....... ...........
Total for week ended January 3, 1936...............
Total receipts through January 3, 1936.... .........
452,145.66 fine
. 105,610,12
«
5,466.34
»
563,220.12
"
59,560,000.00
"
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended January 3, 1936:
Philad e l p h i a................ ............. ........
New Y ork.................... •......................
San Prancisco....... ............ ............. .
Denver..................................,..........
New Orleans ...... ................. ........ ......
Seattle..*.,..... ............ .....................
Total for week ended January 3, 1936...... .........
Total receipts through January 3, 1936..............
- - - - - 1,584.15 fine
627.00
"
357.99*
162*07
11
149.87
M
2,881,08
n
112,218,570.53
RECEIPTS OP GOLD 3Y THE MINTS AND ASSAY OPPICES:
New
Week ended January 3, 1936:
Imports " _
Secondary
Domestic
Philadelphia............... - - - - $ - - - - - <§ IT 3. - _ „
29,100.00
New York........ *................. 7,679,400.00 237,£00,00
San Prancisco.,................. V.
108,519.26
68,985.99 1,841,834.03
Denver......... *... ..............
31,407.64
21,099,46
370,763.46
New Orleans.......................
76.71
20,261.31
121.14
SeattlG........................... ....... .. - 8.738.89
213,311.73
Total for week ended January 3, 1936.$7,819,403.61 $356,985.65 $2,455,130.36
&QLD RECEIVED BY PEDERAI RESERVE BANKS AND THE TREASURER1S OPPICE:
(Under Secretary5s Order of December 28, 1933)
Received by Federal Reserve Banks: G-old Coin
Week ended December 31......... .$
19,153.54
n Received previously.......
31,047,017.59
■total to December 31.............. $31,066,170.93
Received by Treasurer’s Office:
Week ended December 31......... $ ---- - - Received previously.............
266,456.00
total to December 31.............. $
266,456.00
tOiB:
Gold bars deposited with the New York Assay Office
in the amount of $200,572,69 previously reported.
Geld Certificates
$
212,250.00
101,395,320.00
$101,607,570.00
$
1,800.00
2,325[60o!oQ
$ 2,327,400.00
ÎREASURI DEPARTMENT
Washington
FOR RELEASE, MORNING PAPERS
Tuesday, January 7* 1988«
Press Service
/
V'
1/6/36
Secretary of the Treasury Morgenthau announced
last evening that the tenders for $50,000,000, or there
abouts, of 273-day Treasury bills, dated January 8, 1936,
and maturing October 7, 1936, i&ich were offered on
January 3, were opened at the Federal Reserve banks on
January 6»
The total amount applied for was $132,204,000,
of which $50,060,000 was accepted* The accepted bids
ranged in price from 99*940, equivalent to a rate of
about 0*079 percent per annum, to 99*910, equivalent
to a rate of about 0*119 percent per annum, on a bank
discount basis* Only part of the amount bid for at
the latter price was accepted* The average price of
Treasury bills to be issued is 99*919 and the average
rate is about 0.107 percent per annum on a bank dis
count basis*
TREASURY Ä A R T M E N T
Washington
Press Service
No. 6-63
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, January 7, 1936,_______
Secretary of the Treasury Morgenthau announced last evening that the tenders
?nd maturing October 7, 1936, which were offered on January 3, were opened Ft the
Federal Reserve Banks on January 6.
The total amount applied for was $132,204,000, of which $50,060,000 was
accepted.
The accepted bids ranged in price from 99.940, eauiva.lent to a rate
of about 0.079 percent per annum, to 99.910, equivalent to a rate of about 0.119
percent per annum, on a bank discount basis.
Only part of the amount bid for at
the latter price wa,s accepted. The average price of Treasury bills to be issued
is 99.919 and the average rate is about 9.107 uercent per annum on a bank discount
ooOoo
T R EA SU R Y DEPARTM ENT
IN T E R O F F IC E CO M M U N ICA TIO N
DATE
To
F
rom
m
The aluminum industries exhibit C o m b in e 'S ”
aluminum
,M
marble
T
a rtis tic
and p h e n o l ^ formaldehyde in an
p re s e n ta tio n *
alu m in u m p l a c o d e s
h ave been
W a lls
v a rio u s
m e n ts w ith V e n e t i a l V b l i n d s
hyde.
hyde t a b l e ,
c e n te r
w ith
o f th e
in te rio r
of
a lu m in u m s t r i p s
In th e
o f m a r b l e w ith
showri n g v a r i o u s f i n i s h e s *
in s ta lle d
m a rb le w ith
g e n e ra lly a re
and
th e
ro o m i s
c o rn e rs
e x t e r i o r w indow tra
alu m in u m *
and
In th e
^he f l o o r
is
of
c e i Ç l n g o f p h e n o ls formal
a la m in a te d
p h e n o l* fo rm a l
a p e d e s t a l o f b l a c k m a rb le w ith
in s e rte d
alu m in u m s t r i p s *
S im ila r
o th e r
sp aces
g e n e r a l a rra n g m e n ts
i n wrh i c h
are
p re se n te d
are
fo llo w e d
e x h ib its
N a t i o n a l L u m b er M a n u f a c t & r e r s A s s o c i a t i o n ,
In s titu te ,
S te e l
N a tio n a l T e r r a
C o tta A s s o c ia tio n ,
I n d u s t r y , M e t a l W indow
T erazzo
In s titu te ,
an d M o s a i c A s s o c i a t i o n ,
P ro d u cts .
##
o f th e
b la z e d
th e
B ric k &
S ta in le s s
N a tio n a l
S tru c tu ra l
Window C l a s s M a n u f a c t u r e r s A s s o c i a t i o n
in
C la ss
and
and S t r u c t u r a l C lay
h
T R EA SU R Y DEPARTM ENT
IJ4TER O F F I C E C O M M U N IC A TIO N
To
F
r o m
'C
'e t
\
lì
Él
O (5UCX ®
\
Two rooms are
devoted to a particularly
comprehensive display of marbles and other stones,
each of the producing States and from
from
Alaska and
J*^\^to
Rico,
one room devoted to m^smskaasc interior and
the other to exterior use.
^
The interior marble room contains 192 polished or
honed specimens of domestic marbles. The floor is
divided into five panels which display the floor marbles
from the principal producing district. xhe ceiling is fini
with acoustical tile in colors to match the rest of the tr|
^S8bDS±tit Indirect lighting has been installed.
The exterior room
is arranged to
allow daylight inspection of materials. This room contains
191 sarnies of marble, granite and other stones . The sampl
are divided by aluminum strips with floors of highly color
cast stone and slate.
In the s»«f$le room of the floor and wall clay ti
industry, installed by Associated Jile Manufacturers, two
sections of post office wall screens have been
installed
display typical tile wainscotings, with sections of tile
t
floors adko^ng. Other portions of the room are devoted to
displays of floor and wall tile, both in installed form am
in cabinets which contain more than 430 samples oJcMwall an!
floor panels.
4***' f
v>
r ™
The Procurement Division of the ^Treasury Department
is completing the installation of a comprehensive display
gallery of building materials in the Federal Warehouse. The
exhibit consists of thousands of samples of building
materials of all types, produced in various parts of the
United States, to a large extent installed in the manner in
which they would be used in construction work.
j
The primary purpose, it was announced by h©ar Admiral
C. J . Peoples, Director of Procurement, is to facilitate th
work of architects in the Procurement Division, by making
possible the selection of satisfactory materials indigenou
to the localities in which federal buildings are being
planned by the Procurement Division.
"The essential function of the exhibit,"
Admiral
Peoples said, "is similar to that of a reference library.
The architect selected to design the building studies the
samples. A confidential portfolio lists each sample, with
notations as to classification, description, location, size
limitations if any, and recommendations as to use.”
No advertisements of any individual producer are
permitted and the diipïays ¿ave
been arranged
through co-operation of organizations representing producer
generally in each
0f eighteen major classifications.
TREASURY DEPARTMENT
V
(There are available in
Room 289 a limited number
of photographs of the
______exhibit)____________ _
Press Service
No. 6-64
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, January 19. 1936.______
1-13-36.
The Procurement Division of the Treasury Department is completing the
installation in its building of a comprehensive display gallery of building
materials.
The exhibit consists of thousands of samples of all types of materials,
produced in various parts of the United States.
Many samples are installed in the
manner in which they are used in construction work.
The primary purpose, as explained by the Director of Procurement, Rear Admiral
C.J. Peoples, is to facilitate the work of architects in the Procurement Division,
by making possible the selection of satisfactory materials indigenous to the
localities in which Federal buildings are being planned by the Procurement Division
"The essential function of the exhibit,'1 the Director said, "is similar to
that of a reference library.
the samples.
The architect selected to design the building studies
A portfolio, for the sole use of the architects and engineers, lists
each sample, with notations as to classification, description, location, size
limitations if any, and recommendations as to use.
The facilities are also avail~
able to other government agencies."
The displays have been arranged through cooperation of organizations represen
ting producers generally in each of eighteen major classifications.
No advertise
ments of individual producers are permitted.
Two rooms are devoted to a particularly comprehensive display of marbles and
other stones, from each of the producing States and from Alaska and Puerto Rico;
one room being devoted to interior and the other to exterior use.
The interior marble room contains 192 polished or honed specimens of domes
tic garbles.
The floor is divided into five panels which display the floor
marbles from the principal producing district.
The ceiling is finished with
acoustical tile in colors to match the rest of the trim.
Indirect lighting
;
¿Mm
; ¿ï
x
v
\.
.:
-v.
has been installed.
The exterior room is arranged to allow daylight inspection of materials.
This room contains 191 samples of marble, granite and other stones.
The samples
are divided hy aluminum strips with floors of highly colored cast stone and
slate.
In the sample room of the floor and wall clay tile industry, installed
hy Associated Tile Manufacturers, two sections of post office wall screens have
been installed to display typical tile wainscotings, with sections of tile floors
adjoining.
Other portions of the room are devoted to displays of floor and wall
tile, both in installed form and in cabinets which contain more than 430 samples
of wall and floor panels.
The aluminum industries exhibit combine aluminum, marble and phenol-formal
dehyde in an artistic presentation.
plalues
showing various finishes.
Walls generally are of marble with aluminum
In the corners have been installed various
interior and exterior window treatments with Venetian blinds of aluminum. The
floor is of marble with aluminum strips and the ceiling of phenol-formaldehyde.
In the center of the room is a laminated phenol-fornaidehyde table, with a
pedestal of black marble with inserted aluminum strips.
Similar general arrangements are followed in other spa.ces in which are
presented exhibits of the National Lumber Manufacturers Association, Glazed
Brick and Tile Institute, National Terra Cotta Association, the Stainless Steel
Industry, Metal Window Institute, National Terazzo and Mosaic Association,
Structural Glass and Window Glass Manufacturers Association and Structural Clay
Products.
ooOoo
it
On January
sixth nineteen thirty six: ¿toprema Court hei©
uacoaatitutionfel Agricultwral Adj us taunt taxes a* proyislah for
in arigia&X act & M
also in amandei. act Stop withhold, celiac*»
tioa an ail preeeMing tax agmecsaanta outstashing a© yecr
roeores Stop
io set deliver any proea&sia* tax refund ©hacks
sow is your office or ia transit to you until iurther sotica*
//
l(
igcec^ft uss fcil^
meting Ccundaalaaar*
>V
TREASURY DEPARTMENT
Washington
Press Service
No. 6-65
FOR RELEASE, Morning Newspapers,
Wednesday, January 8, 1936____
1/7/36.
The following telegram was sent to all
Collectors today by the Acting Commissioner
of Internal Revenue.
”January 7, 1936.
n0n January sixth nineteen thirtj' six Supreme Court held
unconstitutional Agricultural Adjustment taxes as provided for
in original act and also in amended act Stop Withhold collection
on all processing tax assessments outstanding on your records
Stop Do not deliver any processing tax refund checks now in your
office or in transit to you until further notice.
^(’Signed)
Russell
"Acting Commis si oner,T
total g months
P rio rity
£ £ S i £ P & ï S g 3 S & 2 8 S P S 8 8 3 5 8 2 8 8 P 8 K 3 3 K £ 3 « S P S » » - » » » ►«.»i46
47
48
49
SO
51
51
58
54
55
H « #e 9 7 #8 6 8 ,7 5
U , 4 5 4 #158*?5
1 0 * 3 1 9 ,4 5 6 .8 5
Illin o is
Hew York
Ohio
M issou ri
Iowa
Penn sylvan ia
M innesota
Sanees
Michigan
In d ian s
T exas
C e lifo ra le
W isconsin
Hebraska
M e t r i c i o f Columbia
M assach u setts
Oklahoma
Kentucky
8 ,8 4 4 * 5 8 5 * 0 0
7 ,6 1 9 * 5 5 1 .8 5
7 * 5 5 8 * 8 0 8 .7 è
6 * 8 5 5 * 1 8 1 .8 5
6 ,6 0 5 * 8 8 1 .8 5
% Ì « ® #7 f É * ? «
Washington
How J e r s e y
Worth C a ro lin a
t e s t V ir g in ia
Oregon
Tennessee
C olorado
V ir g in ia
Florida
Worth Dakota
lion tan a
G eorgia
South Dakota
Maryland
L o u isia n a
Arkansas
M is s is s ip p i
South C a ro lin a
Alabama
Connecticut
*******
g a in e
Idaho
Utah
How Mexico
A risona
Wyoming
Rhode I s la n d
Hew Hampshire
Vermont
Nevada
Delaware
Hawaii
A laska
Pa e r t o KlcO
V irg in I s la n d s
Barnes
Guam
t o t a l Cash R e c e ip ts
¡toUirlty Valu.
* »
^
6 ,8 4 9 ,8 0 6 * 8 5
6 ,0 1 9 ,5 6 8 ,7 5
5 * 8 0 8 * 1 0 6 ,8 5
4 , 1 * 6 ,1 4 8 .7 5
8 ,8 5 6 ,1 6 7 .5 0
# , 5 8 ? , T O . 50
8 ( 5 8 1 ,6 4 8 .7 6
8 .5 8 8 .4 0 0 .0 0
8 ,4 0 0 ,0 0 0 .0 0
8 .8 8 1 .1 7 5 .0 0
8,168,4 » , SO
8 .0 5 8 .8 7 5 .0 0
8 .0 4 1 .6 0 0 .0 0
1 .8 8 8 .8 9 8 .7 5
1 .7 7 1 .5 8 7 .5 0
1 .7 5 8 .8 7 5 .0 0
1 .6 6 6 .1 6 8 .5 0
1 .5 7 8 .1 8 5 .0 0
1 .8 8 9 .4 9 8 .7 5
1 .4 6 5 .9 1 8 .5 0
1 .8 7 0 .1 4 8 .7 5
1 .1 8 4 .5 5 0 .0 0
1 ,1 4 8 ,9 5 6 .8 6
1 .1 8 8 .6 5 1 .8 5
1 .0 8 3 .9 0 6 .8 5
3 8 8 .8 5 7 .5 0
3 0 6 .8 8 7 .5 0
6 5 8 .9 9 5 .7 5
5 0 7 .9 9 5 .7 5
4 7 6 .6 6 8 .5 0
4 4 4 ,8 8 5 .0 0
8 7 5 .7 5 1 .8 5
8 6 1 .6 5 6 .8 5
8 5 8 .7 4 8 .7 5
8 5 7 ,0 0 0 .0 0
8 4 8 .5 1 8 .5 0
1 3 9 .1 1 8 .5 0
7 8 ,8 1 8 .7 5
4 6 .8 0 0 .0 0
4 4 ,0 3 1 ,8 5
5 7 .8 0 0 .0 0
8 ,8 5 0 .0 0
1 ,0 8 7 .6 0
8 8 5 .0 0
157.449 ^ 5 g J 5
| 8 0 9 ,9 8 £ ,4 7 5 .0 0
the minimum face value of $25, he may, in units of $25, maturity value, re
deem any portion of his bond,and a new bond for the remainder, dated back
to correspond with the original bond, will be issued*
Sales of United States Savings Bonds in the several States and Possessions
from March 1st to November 1st, arranged in the order of their total sales for
the eight months were -
the middle west preeminent positions in the sale of United States Savings
Bonds, both as to volume and to number of bonds purchased.
Thousands are buying United States Savings Bonds regularly to provide
money for future use.
Large numbers bought the legal limit of $10,000, maturit;
value, of these bonds for the calendar year 1955.
Many individuals, banks and
other fiduciary institutions are applying trust funds for the purchase of Unite!
States Savings Bonds, and the Secretary emphasized, the fact that all such pur
chasers of the legal limit for the calendar year 1935 are now free to make
similar purchases for the calendar year 1956.
Also, that all trustees or
guardians for estates may purchase each calendar year the legal limit of United
States Savings Bonds for each or as many of the trusts held as may be desired.
The United States Savings Bonds now being sold are classified as Series
MBn to distinguish them from Series
nA"
sold during the calendar year 1955.
The provisions of the bonds and the regulations pertaining to the sale of
Series ”B H bonds are materially the same as those applied to Series "A”, but
especial provision has been added permitting partial redemption of the bonds.
This provision has been made retroactive for Series nA”.
Under the original regulations any United States Savings Bond could be
redeemed in full after sixty days from date of purchase, the cash surrender
value being never less than the purchase price and increasing each six months
after the first year to the ten-year maturity.
Under the new regulations, an owner of a United States Savings Bond
may not only redeem his bond in full, at any time after sixty days from date
ffL,
of purchase, but if he is the owner of a bond with a greater face value th%n
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
January <6, 1936.
Press Service
No. L
6>
"é
Secretary of the Treasury Morgenthau announced today that approximately
997,000 United States Savings Bonds were sold from March 1, 1935 to the close
of the year, for $202,500,000 cash.
As United States Savings Bonds are sold on a discount basis and increase
in ten years, through accumulated interest to a total thirty-three and onethird per cent greater than the purchase price, this nine-months \cash sale repri
sente & maturity value of approximately $270,000,000.
This is in excess of
$1,000,000 sale for each business day since these bonds became available
The January sales are showing a decided increase over the daily average of
last year, and the all time Mhighw for daily sales was reached on January 6th
with the receipt by the Treasurer of the Unibd States from the post offices
throughout -the country of $2,803,459.85, representing a maturity value for this
one day*s sale of $3,757,946.44.
In addition, and on the same day, the Treasuri
received $332,925.00, cash, in direct-by-mail orders, representing $443,900.00,
maturity value, or a total sale for the single day of January 6th of $4,181,846
maturity value, of United States Savings Bonds.
The Secretary stated that the tabulation of sales by States for the first
eight months, or to November 1st, shows that the State of Illinois leads the
United States, with cash sale of $14,687,868.75.
a cash sale of $11,454,158.75.
New York State is second with
Ohio, Missouri and.Iowa are next in order.
Pennsylvania takes the sixth place, while Minnesota, KariMs, Michigan and India)
follow in close succession and give to the States of the great farming belt of
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Press Service
Thursday, January 9, 1936«
No. 6-66
Secretary of the Treasury Morgenthau announced today that approximately
997,000 United States Savings Bonds were sold from March 1, 1935 to the close of
the year, for $202,500,000 cash.
As United States Savings Bonds are sold on a discount basis and increase in
ten years, through accumulated interest to a total thirty-three and one-third per
cent greater than the purchase price, this
ton months cash sale represents a
maturity value of approximately $270,000,000.
This is in excess of $1,000,000
sale for each business day since these bonds became available.
The January sales are showing a decided increase over the daily average of
last year, and the all time '’high'* for daily sales was reached on January 6th with
the receipt by the Treasurer of the United States from the Post Offices throughout
the country of $2,803,459.83, representing a maturity value for this one day's sale
of $3,737,946.44.
In addition, and on the same day, the Treasurer received
$332,925.00, cash, in direct-by-mail orders, representing $443,900.00, maturity
value, or a total sate for the single.day of January 6th of $4,181,846.44, maturity
value, of United States Savings Bonds.
The Secretary stated that the tabulation of sales by States for the first
eight months, or to November 1st, shows that the State of Illinois leads the
United States, with cash sale of $14,687,868.75.
a cash sale of $11,454,158.75.
New York State is second with
Ohio, Missouri and Iowa are next in order.
Pennsylvania takes the sixth place, while Minnesota, Kansas, Michigan and Indiana
follow in close succession and give to the States of the great farming belt of
the middle west preeminent positions in the sale of United States Savings Bonds,
both as to volume and to number of bonds purchased.
-2Thousands are buying United States Savings Sends regularly to provide money for
future use.
Large numbers bought the legal limit of $10,000, maturity value, of
these bonds for the calendar year 1935.
Many individuals, banks and other
fiduciary institutions are applying trust funds for the purchase of United States
Savings Bonds, and the Secretary emphasized the fact that all such purchasers of the
legal limit for tho calendar year 1935 are now free to make similar purchases for
the calendar year 1936.
Also, that a.ll trustees or guardians for estates may
purcha.se each calendar year the legal limit of United States Savings Bonds for
each or as many of the trusts held as may be desired.
The United States Savings Bonds now being sold are classified as Scries ^B"
to distinguish them from Series "A" sold during the calendar year 1935.
The pro
visions of the bonds and the regulations pertaining to the sale of Series ,,B ,r
bonds are materially the same as those applied to Series ,fA f*, but especial provi
sion has been added permitting partial redemption of the bonds.
This provision
has been made retroactive for Series nA ,f.
Under the original regulations any United States Savings Bond could be
redeemed in full after sixty days from date of purchase, the cash surrender value
being never less than the purchase price and increasing ee.ch six months after tho
first year to the ten-year maturity.
Under the new regulations, an owner of a United States Savings Bond may not
only redeem his bond in full, at any tim© after sixty days from date of purcha.se,
but if he is the owner of a bond with a greater face value than the minimum face
value of $25, he may, in units of $25, maturity value, redeem any portion of his
bond and a new bond for the remainder, dated back to correspond with the original
bond, will be issued.
Sales of United States Savings Bonds in the several States and Possessions,
from March 1st to November 1st, arranged in the order of their total sales for
the eight months' were —
TOUTED STATES SAVINGS BONDS —
'riority
1
2
3
4
5
r*
O
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
State
Illinois
New York
Ohio
Missouri
Iowa
Pennsylvania
Minnesota
Kansas
Michigan
Indiana
Texas
California
Wisconsin
Nebraska
District of Columbia
Massachusetts
Oklahoma
Kentucky
Washington
New Jersey
North Carolina
West Virginia
Oregon
Tennessee
Colorado
Virginia
Florida
North Dakota
Montana
Georgia
South Dakota
Maryland
Louisiana
Arkansas
Mississippi
South Carolina
Alabama
Connecticut
Maine
Idaho
Utah
New Mexico
Arizona
Wyoming
Rhode Island
New Hampshire
Vermont
Nevada
Delaware
Hawaii
Alaska
Puerto Rico
Virgin Islands
Samoa
Guam
Total Cash Receipts
Maturity Value
SALES BY STATES
Total 8 months
$ 14,687,868.75
11,454,158.75
10,919,456,25
9,521,700.00
8,844,525.00
7,618,331.25
7,358,203.75
6,853,181.25
6,605,381.25
6,266,793.75
6,249,206.25
6,013,368.75
5,608,106.25
4,525,143.75
2,856,187.50
2,587,762.50
2,531,643.75
2,522,400.00
2,460,000.00
2,231,175.00
2,163,412.50
2,052,375.00
2,041,800.00
1,828,293.75
1,771,537.50
1,753,875.00
1,666,152.50
1,573,125.00
1,529,493.75
1,465,912.50
1,270,143.75
1,184,550.00
1,143,956.25
1,132,631.25
1,028,906.25
828,337.50
806,887.50
633,993.75
507,993.75
476,662.50
444,825.00
375,731.25
361,856.25
358,743.75
357,000.00
334,068.75
242,512.50
189,112.50
79,218.75
46,200.00
44,081.25
37,200.00
2,850.00
1,087.50
225.00
157,449,356.25
$209,932,475.00
\
TREASURE: DEPARTMENT
W A S H IN G T O N
January 8, 1936,
ESTIMATED GOLD AND SILVER RECEIPTS
DECEMBER 29, 1934
-
M
4 /3
A
m
DECEMBER 28, 1935.
^ J N nX J C W ^
GOLD
$ 1,728, 246,204.46
Insorta
42, 137,237.49
Secondary
108, 527,797.87
New Domestic
SILVER
Executive Proclamation
December 21, 1933 as amended:
Executive Pro clamati on
August 9, 1934
37, 753,511.67 oz.
1, 153, 112.45 oz
MINOR
F iv e Cent M ickel
8 0 ,6 5 6 ,0 0 0
$ 4 , 0 5 2 , 800.0C 27,695,005$ 1,584,650.15
5 5 1 .0 9 0 .0 0 0
5 ,5 1 0 ,9 0 0 * QC■247,526,000
2,475,260.00
T o ta l Minor
4 1 1 .7 4 6 .0 0 0
7,545,700.00275,219,005
5,859,910.15
Total, d om estic Coinage
5 6 0 ,7 5 8 ,0 4 7
One Cent Bronze
58,580,425.50p58,269,555 25,951,750.65
DOMESTIC COINAGE PIECES
1915
1916
1917
1918
1919
1920
1921
1922
1925
1924
1925
1 0 5 ,9 9 4 ,5 1 0 p ie c e s
5 4 7 ,9 0 0 ,4 6 9 u
5 0 1 ,0 5 0 ,6 2 8 n
5 5 8 ,1 6 0 ,8 4 6 ti
7 5 8 ,6 4 2 ,0 0 0 it
t
6 5 1 ,4 2 2 ,2 9 0
!
1 6 0 ,5 6 4 ,0 9 8
r
9 5 ,5 5 8 ,5 7 7
2 5 4 ,2 7 7 ,2 5 0
1 9 6 ,5 2 2 ,5 8 0
5 0 8 ,6 4 6 ,8 8 6
1926
1927
1928
1929
19 5 0
1951
1952
4.955
1954
1955
5 1 4 ,6 1 4 ,7 8 9 p ie c e s
2 9 6 ,0 1 0 ,0 8 4 "
2 7 4 ,2 0 8 ,2 8 5 "
5 8 5 ,5 8 2 ,9 5 0 "
2 6 6 ,0 5 6 ,0 0 0 "
5 5 ,1 9 6 ,7 5 0 »
5 1 ,5 7 5 ,5 5 0 «
2 5 ,1 0 9 ,2 5 0 «
5 5 8 ,2 6 9 ,5 5 5 «
5 6 0 ,7 5 8 ,0 4 7 «
1 7
pSiM®J
*i$h~.i<&*~.>£.p
*
^¿¿¿1^
'-rM
"vew'
■■"'5 ¿ *-*“ -
/II
1
'4&
¿■A
rtl
The calendar year 19S5 proved to be one of the most active
in the history of the Mint service, Mrs. Nellie Tayloe Ross,
Director of the Mint, announced today. Only two years, 1919 and
1920, have exceeded 1935 in the production of domestic coinage
/Q '
pieces by the mints, Mrs. Ross said. During
total domestic coinage amounted to 560,758,047 pieces with a value
of $38,580,423^50.^'The Director also revealed that since the Mint 1S/kul
“service was established in 1793 a grand total of 12,593,419,751^5F~^ *
domestic coins have been minted up to and including December 31, 1935.
It has been the experience of the Mint Bureau that the demand
for
and minor coins becomes greater during periods of im
proving business.^Purchases of both gold and silver have also made
tiie wdrlTb? the mints and assay offices during the past calendar
year much heavier than usual, it is revealed.7
- Throughout the year it is found necessary to run the mints at
times on two and sometimes three shifts to meet the demands for coin
age.
wrK
0/
In addition to the domestic coinage there were supplied for
foreign governments during 1935, 109,600,850 pieces, making the com
plete production figure for the year 670,558,897 pieces. The coinage
for foreign governments is carried on at cost as a matter of international
The countries which availed themselves of the services of the j
United States mints during the past year were Mexipo, Honduras, Colombia,!
Venezuela, Cuba, Panama, Nicaragua and Costa Rico."
jfAttached is a tabu
lation of the silver and minor coinage during the calendar years 1954
and 1935, together with a tabulation of domestic coinage pieces for the last twenty-year period^,
re- j
f
the
and a e ^ U i m a t e d gold and silver receipts at the I
mints and assay offices fort-he period December 29, 1934 through Decemberj
28, 1935.
TREASURY DEPARTMENT
|| -
’Washington
MEMORANDUM EOR THE PRESS
For Release, Morning Newspapers,
Saturday, January 11. 1936«-____ _
1-9-36.
The calendar year 1935 proved to he one of the most active in the history of
the Mint service, Mrs. Nellie Tayloe Ross, Director of the Mint, announced today.
Only two years, 1919 and 1920, have exceeded 1935 in the production of domestic
coinage pieces by the mints, Mrs. Ross said«
During 1935 the total domestic coin
age amounted to 560,758,047 pieces with a value of $38,580,423.50.
The Director also revealed that since the Mint
service was established in
1793 a grand total of 12,593,419,751 pieces of domestic coins have been minted up
to and including December 31, 1935.
It has been the experience of the Mint Bureau that the demand for silver and
minor coins becomes greater during periods of improving business.
Purchases of both gold and silver have also made the work of the mints and
assay offices during the past calendar year much heavier than usual, it is
revealed.
Throughout the year it was found necessary to run the mints at times on
two and sometimes three shifts to meet the demands for coinage.
In addition to the domestic coinage there were supplied for foreign govern
ments during 1935, 109,600,850 pieces, making the complete production figure for
the year 670,358,897 pieces.
The coinage for foreign governments is carried on at
cost as a matter of international comity.
The countries which availed themselves
of the services of the United States mints during the past year were Mexico, Hon
duras, Colombia, Venezuela, Cuba, Panama, Nicaragua and Costa Rica.
Attached is a tabulation of the silver and minor coinage during the calendar
years 1934 and 1935, together with a tabulation of domestic coinage pieces for the
last twenty-year period, and a compilation of estimated gold and silver receipts
at the mints and assay offices for the period December 29, 1934 through December
28, 1935
COINAGE EXECUTED AT THE MINTS OF THE UNITED STATES DURING
THE CALENDAR YEARS 1934 and 1935*
i
SILVER
Dollars
Half Dollars (Regular)
Half Dollars (Commemorative)
Calendar
Year 1935
(Pieces)
Value
Calendar
Year 1934
(Pieces)
3,540,000
$ 3,540,000.00
3,534,557
$-3,534,557.00
8,009,900.00 12,977,400
6,488,700.00
247,141
123,570.50
16,019,800
383,247
191,623.50
Value
Quarter Dollars
43,922,000
10,980,500.00 35,439,252
8,859,813.00
Dimes
85,147,000
8,514,700.00 30,852,000
3.085.200.00
149,012,047
$31,236,723.50 83,050,350
$22,091,840.50
Five Cent Nickel
80,656,000
$ 4,032,800.OC 27,693,003
1,384,650.15
One Cent Bronze
331,090,000
3,310,900.OC 247,526,000
2,475,260.00
Total Minor
411,746,000
7,343,700.OC 275,219,003
3,859,910.15
Total Domestic Coinage
560,758,047
38,580,423.5C 358,269,353
25,951,750.65
Total Silver
MINOR
DOMESTIC COINAGE ~ PIECES
1915
1916
1917
1818
1919
1920
1921
1922
1923
1924
1925
105,994,510 pieces
347,900,469 it
501,030,628 ti
538,160,846 h
738,642,000 tt
631,422,290 0
160,364,098 It
95,538,577 M
254,277,250 M
196,522,580 t!
308,646,886 It
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
314,614,789 pieces
296,010,084 «
274,208,285 u
385,582,950 H
266,056,000 U
35,196,750 tl
31,375,550 w
23,109,250 II
358,269,353 -ft
560,758,047 II
-3-
ESTIMATED GOLD AMD SILVER RECEIPTS AT THE MINTS AND ASSAY OFFICES
December 29, 1934
—
December 28, 1935.
(Compiled from weekly statements)
Gold
Imports
$1,728,246,204.46
Secondary
42,137,237.49
Nevi Domestic
108,527,797.87
Silver
Executive Proclamation
December 21, 1933 as amended:
37,753,511.67 oz.
Executive Proclamation
August 9, 1934:
1,153,112,45
ooOoo
w
T R E A S U R Y DEPARTM ENT
O F F IC E
OF
THE
SECRETA RY
WASHINGTON
January 1 0 , 1936*
ÜÜ
TO MR» GASTON;
During th e month o f December, th e fo llo w in g m arket tr a n s
a c ti o n s took p la c e in Government s e c u r i t i e s f o r investm ent a cco u n ts
T o ta l p u rch ases
f 5 , 8 ? 5 #20O
T o ta l s a l e s • » • • * » » •
0
Net p u rc h a s e s :
| 5 ,2 7 5 ,2 0 0
-
2-
has been installed.
The exterior room is arranged to allow daylight inspection of materials,
This room contains 191 samples of marhle, granite and other stones.
The samples
are divided hy aluminum strips with floors of highly colored cast stone and
slate.
In the sample room of the floor and wall clay tile industry, installed
hy Associated Tile Manufacturers, two sections of post office wall screens have
•been installed to display typical tile wainscotings, with sections of tile floors
adjoining.
Other portions of the room are devoted to displays of floor and wall
tile, "both in installed form and in cabinets which contain more than 430 samples
of wall and floor panels.
The aluminum industries exhibit combine aluminum, marble and phenol-formal
dehyde in an artistic presentation.
plagues
showing various finishes.
Walls generally are of marble with aluminum
In the corners have been installed various
interior and exterior window treatments with Venetian blinds of aluminum. The
floor is of marble with aluminum strips and the ceiling of phenol-formaldehyde.
In the center of the room is a laminated phenol-formaldehyde table, with a
pedestal of black marble with inserted aluminum strips.
Similar general arrangements are followed in other spaces in wnich are
presented exhibits of the National Lumber Manufacturers Association, Glazed
Brick and Tile Institute, National Terra Cotta Association, the Stainless Steel
Industry, Metal Window Institute, National Terazzo and Mosaic Association,
Structural Glass and Window Glass Manufacturers Association and Structual Clay
Products.
ooOoo
TREASURY DEPARTMENT (W h e re a r e a v a i l a b l e i n r
a l i m i t e d n u m b er o f nhot
Washington
o f th e e x h i b i t )
POR RELEASE, MORNING NEWSPAPERS,
Sunday, J anuarv JfeiL. 1
T~*~36.
j q ------------
1116 Prtl”
,aA v%4 ^ L Di:iSian
^
g
j
^
^
Press Service
No. 6~64
the îreaSUry
-
completing the
comprekensive display gallery of building m a t e r S ^ U
gÂ#
*ï5"-
The exhibit consists- of thousands of samples of
materials
i, produced in various parts of the United States'3
¡tailed in the manner in which they' w W N W w w j
in construct?
work.
e primary purpose, it
^
b ^ ^ I T A d m i ^ a f cTjT P ^ l S \ Directe
of Procurement,^§""to" facilitate the work of ^chitects in the p E E ^ n t
fiivi-
sion, by making possible the selection of satisfactory materials indigenous to
localities in which Federal buildings are being planned by the Procurement
------- f t
A.
I
.
s
I
__________ _ _
Division^
tVsjj
*LiUw*
/
tl
The essential function of the exhibit," A t o L u d J ^ l ^ e said, "is similar
to that of a reference library.
studies the samples.
The architect selected to design the building
A -confidential jAVtfolio^lists
^
s,ample, with n ^ a t L
as to classification, description, location, size limitations if any, and
recommendations as to u
SiC"1Af1
Nü ft^Tfimiintiiiiiimy^yj^
s
f
e
&**$**&**S3
, Jr
rJ T ^i-.Ai.cLl'V,I..dmid-,.r.,r.f?.«-«i
aMiin niwi.il '
^'
W !t^ife4<àâk!!aSSd "Ihe di«plav
have been arranged through cooperation of -ygjjftfii
?5°
TrT"*'yg.in ®JGh of eighteen major classifications,
** *•
/f*
mt
u-c*
Two rooms are devoted to a particularly comprehensive display of marbles a
other stones, from each of the producing States and from Alaska and Puerto Hico
one roocTdevoted to interior and the other to exterior use.
The interior marble room contains 192 polished or honed specimens of domestic marbles.
The floor is divided into five panels which display the floor
marbles from the principal producing
district.
The ceiling is finished with
acoustical tile in colors to natch the rest of the trim.
Indirect lighting
assu m e a f i n a n c i a l
in te re s t.
M r . B row n w as s u s p e n d e d ,
p e n d in g
W hen t h i s
fu rth e r
f a c t w as d ev elo p ed
in q u iry .
LluHT"1 flhff a s #
H e ^ s u b s e q u e n tly
##
w as
As the result of a thorough investigation of
the so-called
Famous ^rands case, in which it developed
that
three Treasury Department officials at Cleveland, Ohf
sasr®
had financial interests, either directly of through
members of their families,
f
in a liquor marketing agency,
the following action has been taken:
The three officials in question,
Carl E. Moore,
Collector of Internal Revenue, 18th Collection District,
Clifford Pollock, Assistant Collector of Customs, and
William G. Harper,
Secret Service operative-in-charge,
have divested themselves of all interests which they held,
either personally or through other mentoers of their fsmilij
in
the agency.
CLmMM
U>
They have ireturnoff to Famous brands, Ohio, Inc.,
all
profits which
they, or members of their families,
received as a result of their financial interest in this
agency.
Officials of Famous grands, Ohio, Inc.,
have
agreed to donate to the Cleveland Community Fund a sum
equal to the profits returned by the three Treasury
Department officials.
Thin.agll.I
It developed early in the course of the in v estig etio il
that
Bert C. Brown, HpKXEjfc former operative in
charge at Detroit, Mich, for the Secret Service, was
responsible for the organization of the liquor sales agenc 1
and that he had prevailed upon the Ohio officials to
W
1"
-f?
/
., jQ > x l
n
it
) uZ-~3.i
\
j?
A <r\^A/
a -'W)
x
1/
/ 3; / °
j3
1
0 i
'i’
/B-0. 4 - £
i
5 % c rtt& x ^
->«.«-¿¿1Tlx
f i H l t r u 'v u
As a result of a thorough investigation of the so-called
Famous Brands case, in which it developed that three treasury Depart
ment officials at Cleveland, Ohio, had financial interests, either
directly or through members of their families, in a liquor marketing
agency, the following action lias been taken«
the three officials in question, Carl 1* Moore, Collector
of Internal Revenue, 18th Collection District, Clifford pollock,
Assistant Collector of Custom«, and William
G. Harper, Secret Service
operative-in-charge, have divested themselves of all interests which
they held, either .personally
or
through other members of their families, I
in the agency*
they have agreed to return to Famous Brands, Ohio, Inc., all
profits which they, or members of their families, received a® a result
of their financial interest in this agency*
Officials of Famous Brands, Ohio, Inc*, have agreed to
donate to the Cleveland Community Fund a sum equal to the profits re
turned by the three Treasury Department officials*
It developed early in the course of the investigation that
Bert C, Brown, former operative-in-charge at Detroit, Michigan, for
the Secret Service, was responsible for the organisation of the liquor
sales agency, and that he had prevailed upon the Ohio officials to
assume a financial interest*
kjaen this fact was developed Mr* Brown
was suspended, pending further inquiry.
He was subsequently dismissed.
TREASURY DEPARTI CERT
Washington
FOR IMMEDIATE RELEASE,
Monday, January 13, 1936.
Press Service
No. 6-67
Secretary Morgenthau today made the following announcement:
As a result of a thorough investigation of the so-called Famous Brands case,
in which it developed that three Treasury Department officials at Cleveland, Ohio,
had financial interests, either directly or through members of their families, in
a liquor marketing agency, the following action has been taken.
The three officials in question, Carl E. Moore, Collector of Internal
Revenue, 18th Collection District, Clifford Pollock, Assistant Collector of C-u.stoms?
and William G-. Harper, Secret Service operative-in-charge, have divested themselvesof all interests which they held, either personally or through other members
of their families, in the agency.
They have agreed to return to Famous Brands, Ohio, Inc., all profits which
they, or members of their families, received as a result of their financial
interest in this agency.
Officials of Famous Brands, Ohio, Inc. have agreed to donate to the Cleveland
Community Fund a sum equal to the profits returned by the three Treasury Depart
ment officials.
It developed early in file course of the investigation that Bert C. Brown,
former operative-in-charge at Detroit, Michigan, for -the Secret Service, was
responsible for the organization of the liquor sales agency, and that he had
prevailed upon the Ohio officials to assume a financial interest.
was developed Mr. Brown was suspended, pending further inquiry.
di smissed*
When this fact
He was subsequently
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, January 13, 1936,
Press Service
No. 6-68
Net market purchases of Government securities for Treasury investment
accounts for the calendar month of December, 1935, amounted to $5,275,200,
Secretary Morgenthau announced today.
ooOoo
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
January 13, 1936.
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended January 10, 1936:
Philadelphia.....................................
San Francisco ...............................
Denver........ . ..................... ............
Total for week ended January 10, 1936...............
Total receipts through January 10, 1936 ...........
303.074.63 fine ounces
«
753.734.63
»
if
19.371.08
”
«
1,076,180.34
»
60,636,000.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended January 10, 1936:
Philadelphia....................................
New York................ .........................
San Francisco............................... . . ..
Denver....... ....................................
New Orleans................... ...................
Seattle ........ .-................................
Total for week ended January 10, 1936....... .......
Total receipts through January 10, 1936...... .....
497.00 fine ounces
it
929.95
"
if
962.00
"
it
711.66
»
u
377.39
»
it
________127.88
”
H
3,605.88
,f
II
112,222,176.41
,f
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended January 10, 1936:
Philadelphia............ . .. ..
New Y o r k ..... ...............
San Francisco. ................
Denver............ ...........
New Orleans...................
Seattle......................
Total for week ended January 10,
Imports
$
7,963.03
13,754,400.00
.....
1,305,386.23
.....
46,924.13
.....
7,228.28
..... ...... ......
1936..$15,125,901.67
Secondary
$290,501.27
281,800.00
.58,141,71
68,866.20
43,168.40
22.455.10
$764,932.68
New
Domestic
$
426f40
56,900.00
1,799,538.52
699,981.30
103.26
303.184.78
$2,860,134.26
COLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks; Gold Coin
Week ended January 8,.......... $
25,605.90
Received previously......... ... 31.066.170.93
Total to January 8... ......... $31,091,776.83
Received by Treasurer’s Office:
Week ended January 8 ...... .....$ - - - — Received previously............
266,456.00
Total to January 8 ............. $ 266,456.00
NOTE:
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
Cold Certificates
$
394,160.00
101.607.570.00
$102,001,730.00
$
$
3,500.00
2,327,400.00
2,300.900,00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE* MORNING PAPERS
Tuesday, January 14* 1986«
Press Service
fPls/86
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $60*000*000* or thereabouts, of
273-day Treasuxy bills* dated January 16, 1986, and maturing
October 14, 1936, which were offered on January 10* were
opened at the Federal Reserve banks on January 13*
The total amount applied for was $190*515*000* of
which $50,050,000 was accepted*
The accepted bids ranged
in price from 99*940, equivalent to a rate of about 0.079
percent per annum* to 99.911* equivalent to a rate of about
0.107 percent per annum* on a bank discount basis. Only
part of the amount bid for at the latter price was accepted.
The average price of Treasury bills to be issued is 99.924
and the average rate is about 0.100 percent per annua on a
bank discount basis.
— TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. January 14, 1936»______
1-13-36.
Press Service
• 6-69
Secretary of the Treasury Morgenth.au announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury bills, dated January 15,1936,
and maturing October 14, 1936, which were offered on January 10, were opened at
the Federal Reserve Banks on January 13.
The total amount applied for was $190,515,000, of which $50,050,000 was
accepted.
The accepted bids ranged in price £rpm 99.940, equivalent to a rate
of about 0.079 percent per annum, to 99319, equivalent to a rate of about 0.107
percent per annum, on a bank discount basis.
the latter price was accepted.
Only part of the amount bid for at
The average price of Treasury bills to be issued
is 99.924 and the average rate is about 0.100 percent per annum on a bank discount
basis.
ooOoo
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Wednesday, January 15, 1936.
Press Service
No. 6-70
To enable the Treasury Department to administer remaining
functions within its jurisdiction under the Agricultural Adjust
ment Act, the Comptroller (renerai today approved a warrant trans
ferring to the Secretary of the Treasury funds from the appropriation
of $100,000,000 for administrative expenses of the Agricultural
Adjustment Administration made to the Secretary of Agriculture by
Section 12 of the Agricultural Adjustment Act.
The transfer of funds will permit the immediate payment of
current salaries to the employees of the Bureau of Internal Revenue
who have heretofore been engaged in collecting processing taxes.
In view of the precedent created by the Comptroller General's
action, the Treasury Department is also releasing current payroll
checks to the employees of the Agricultural Adjustment Administration.
TEiutmil DEPARTMENT
S&shingtoa
FOB RELEASE, HORNING
Press Service
No. 6 -
Pa PARS
Friday. January 17. 1956.
lZu/56
Secretary Morgenthau announced today that total receipts of
silver by the United States Mints, under Executive Proclamation of
December 11, 1953, by purchase as provided in the Silver Purchase Act
of June 19, 1954, and by transfer under Executive Proclamation of
August 9, 1984, counted to 8 8 5 , 1 1 2 ^ 0 0 ^ , as of the close of bustness on December 27, 1955«
Acquisitions uere divided as follows!
Under Executive Procl&ma-
tion of December 21, 1935, 58,99b^ounces| purchased under Act of June
19, 1934, 6b3,900^ouncesf transferred under Executive Proclamation of
■«
August 9, 1934, 112,216 ounces#
A
'
■■
» o Oq -’
*»'
TREASURY DEPARTMENT
Washington
P re s s S e rv ic e
No,
FOR RELEASE,.MORNING PAPERS
F r id a y » Ja n u a ry 17» 1956»
l/l6 /3 6
'67/
S e c r e ta r y Morgenthau announced today t h a t t o t a l r e c e i p t s of
—
s i l v e r by th e U nited S t a t e s M in ts, under E x e c u tiv e P ro clam atio n o f
December £ 1 , 1 9 5 3 , by purchase a s provided in th e S i l v e r Purchase A ct
o f June 1 9 , 1 9 3 4 , and by t r a n s f e r under E x e c u tiv e P ro clam atio n o f
?•
August 9 , 1 9 3 4 , amounted t o 8 5 5 ,1 1 2 o u n ces, a s o f th e c lo s e o f b u si
n ess on December 2 7 , 1 9 3 5 ,
A cq u is itio n s were d iv id ed a s fo llo w s 5 (jlpder E x e c u tiv e Proclam a
t io n o f December 2 1 , 1 9 3 3 , 5 8 ,9 9 6 ouncesj^jm rchased under A ct o f June
1 9 , 1 9 3 4 , 6 6 3 ,9 0 0 o u n c e s ^ t r a n s f e r r e d under E x e c u tiv e P ro clam atio n of
August 9 , 1 9 3 4 , 1 1 2 ,2 1 6 ou n ces.
— -oQo
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday, January 17. 1936.______
1-16-36
Pre33 Service
6~71
Secretary Mergenthau announced today that total receipts of silver hy the
United States Mints, under the Executive Proclamation of December 21, 1933, by
purchase as provided in the Silver Purchase Act of June 19, 1934, and by trans
fer under the Executive Proclamation of August 9, 1934, amounted to 8$f>,112,000
ounces, as of the close of business on December 2?, 1935,
Acquisitions were divided as followst
Under Executive Proci'.vati on of December
. 53,996,000 ounces
21, 1933 .. .
Purchased under Act of June 19, 1934 .... 663,900,000
sT Executive Pro c1 v..*"'tion
Transferrod un $i
■*» a _
OX AwleJUS v f7f to '’4.
112,216,000
»1
n
My dear Jeff*
I want to express in.writing as I have to
you personally my sincere regret that you find It
advisable to resign your position as Outer Secre
tary of the Treasury in which you have rendered
conspicuously able service to the Government for
the last two years and have been of great personal
assistance to &*«
X am happy to recall that our association has
been most pleasant throughout and our relations al
ways harmonious* X could not ask for more conscien
tious and loyal help in the many difficult problems
we have had to face than you have given*
For this fine service and support please accept
my heartfelt thanks#
I cherish our friendship and the feeling of
mutual confidence which X know will endure*
Sincerely yours,
/fjffAO,.let
Secretary of the Treasury*
Mr* f* Jefferson Cooling©
Oncer Secretary of the Treasury*
♦
TREASURY DEPARTMENT
Washington
Press Service
No. 6-72
FOR IMMEDIATE RELEASE,
Friday*/ January 17, 1936
I want to express in writing as I have to you personally
my sincere regret that you fund it advisable to resign your
position as Under Secretary of the Treasury in which you have
rendered conspicuously able service to the Government for the
last two years and have been of great personal assistance to
me
I am happy to recall that our association has been most
pleasant throughout and our relations always harmonious. I
could not ask for more conscientious and loyal help in the
many difficult problems we have had to face than you have given.
For this fine service and support please accept my heart—
felt thanks.
I cherish our friendship and the feeling of mutual
confidence which I know will endure.
Sincerely yours,
(Signed)
Henry Morgenthau, Jr.
Secretary of the Treasury
Mr. T. Jefferson Coolidge,
Under Secretary of the Treasury.”
TREASURY DEPARTMENT
Washington
J anunry
MEMORANDUM POR THE PRESS
20,
1936.
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OPPICSS;
(Under Executive Proclamation of December 21,1933) as amended
Week ended January 17, 1936:
Philadelphia ......................
San Francisco ......................
Denver ... .........................
Total for week ended January 17, 1936
Total receipts through January 17,1936
.
.
433,867.69 fine ounces
896,701.39 n
M
5.242.89 M
”
1,335,811.97 »
”
61,972,000.00 "
”
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9,1934)
Week ended January 17, 1936:
Philadelphia .......................................
1,130.00
New York ........................
2,251.35
San Francisco ......................................
1,827.00
Denver .......................
884.89
New Orleans .................
285.23
Seattle ............................ ............... ........ ~ ~
Total for week ended January 17, 1936 ..... ........
6,378.47
Total receiptsthrough Janua$r17, 1936 .............. 112,228,554.88
ft
II
II
II
It
It
II
II
ft
It
it
ft
»
it
ft
n
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended January 17, 1936:
Philadelphia ............
New York
San Francisco
Denver
New Orleans
Seattle
Imports
$
13,950.65
10,817,000.00
4,856,577.13
42,257.50
$15,729,735.28
Secondary
$143,046.40
131,300.00
43,263.59
28,907.10
34,670.52
16,645.27
$397,832.68"
liew
Doings tic
$ ' 1,194.20
652,800.00
1,542,892.04
562,928.06
595.21
79,768.32
$2,840,177.83
GOLD RECEIVED BY FEDERAL-RESERVE BANKS AND THE TREASURER1S pFFICE:
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks:
Cold Coin
Week ended January 15 ........... $
20,025.42
Received previously .... ....... 31,091.776.83
Total to January 15 ............. $ 3 1 ,1 1 1 ,8 0 2 . 2 5
Received by Treasurer’s Office:
Week ended January 15 ..........
Received previously ......... .
Total to January 15 ..........
NOTE:
$
$
300.00
266,456.00
266,756.00
Cold, Certificates
$
299,950.00
102,001,730,00
$102,301,680.00
$
$
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
7,800.00
2,330.900.00
2,338,700.00
been S e c r e ta r y o f th e T reasu ry *
I do* however* wish t o thank you
e s p e c i a l l y f o r th e f in e work t h a t so many o f you have done in a d vancing a p r o j e c t o u tsid e th e r e g u la r l i n e o f your d u tie s * i n f u r
th e r in g th e T re a su ry *s campaign t o promote th e s a le o f U nited S ta te s
Savings Bonds*
X f e e l t h a t th o s e e f f o r t s have been w e ll sp en t*
X
th in k th e y have helped us a l l t o r e a l i z e our common problems and
th ey have done a g r e a t d e a l t o a c q u a in t c i t i z e n s a l l over th e
co u n try w ith th e r e s p o n s i b i l i t y and th e problems o f a d em o cratic
government*
We a r e a l l g r a t i f i e d a t th e r e s u l t s t h a t have been
ach ieved *
In c lo s in g l e t me e x p re s s th e hope t h a t you w i l l fin d your
m eetings h ere i n t e r e s t i n g and t h a t you w a ll g a in new su p p ort and new
con fid en ce from your c o n t a c ts w ith your c o lle a g u e s in th e s e r v i c e and
t h e ! th e r e w i l l be genuine and l a s t i n g b e n e f its t o th e p u b lic s e r v ic e
and t o each o f us in d iv id u a lly .
Again p erm it me t o e x p re ss my appre
c i a t i o n o f your f in e c o o p e ra tio n in th e p a s t and my e a r n e s t hope and
con fid en ce t h a t you w i l l n o t f a i l in th e new and d i f f i c u l t program
t h a t we a r e p re s e n tin g t o yrou.
— oOo-
- 4 -
w ith th e l e a s t p o s s ib le annoyance and in con ven ien ce t o th e ta x p a y e r
c o n s is te n t w ith a thorough exam in ation when t h a t i s co n sid ered ad
v is a b le .
In approaching our o b je c tiv e o f advancing th e exam in ation o f
r e tu rn s by s i x months t o J u l y 1 s t and com pleting such exam in ations
w ith in tw elve months, I ask th e e a r n e s t c o o p e ra tio n o f th e C o l l e c t o r s 1
f o r c e s and th e Revenue A g en ts1 employees*
I know t h a t i t i s a d i f f i
c u l t ta s k but I have co n fid e n ce in your a b i l i t y to accom p lish i t .
I t i s r e a l i z e d t h a t no ea sy ta s k has been asked o f you*
I
know t h a t th e C o l l e c t o r s 1 f o r c e s have a program t h i s y e a r which i s
h e a v ie r than any o f p re v io u s y e a r s *
You have th e d u p lic a te r e tu rn s
t h i s y e a r f o r th e f i r s t tim e and th e re i s much work t o be perform ed
in t h e i r hand ling*
You have many o th e r d u tie s *
Having a l l o f t h i s in mind, I am convinced from your perform
an ces in th e p a s t th a t no Revenue Agents* D iv is io n , t h a t no Col
l e c t i o n D i s t r i c t and t h a t no Bureau D iv isio n o r S e c tio n w i l l f a i l in
i t s c o n tr ib u tio n to th e t a s k a t hand*
I have only d is cu s s e d g e n e r a lly th e o b je c tiv e we have in mind.
There a r e many d e t a i l s t o be c o n s id e re d .
The d i f f e r e n t branches of
th e f i e l d s e r v i c e w i l l have group m eetings w h ile h ere to work out the
d e ta ils .
There a r e , o f c o u rs e , many o th e r problems t o be d is c u s s e d .
T his i s so d e f i n i t e l y a b u sin e ss m eetin g, w ith a l l t h a t t h a t im p lie s ,
t h a t I am speaking to you o n ly v e ry b r i e f l y and am n o t allow in g my
s e l f th e tim e t o e x p re ss my g r e a t g r a t i f i c a t i o n a t th e z e a l and i n
t e l l i g e n c e which a l l o f you have devoted to your work s in c e I have
c o l l e c t can be s t a r t e d ,
X should l i k e to sh o rte n th e p eriod of* exam in ation s and d e t e r
m ination o f d e f i c i e n c i e s .
By beginning exam in ation o f r e tu r n s th re e
and o n e -h a lf months a f t e r f i l i n g , o r on J u l y 1 s t , th e av erag e examina
t i o n can be reduced from f i f t e e n months t o n in e months.
To do t h i s
i t w i l l be n e c e s s a r y f o r th e C o lle c to r s * f o r c e s t o a c c e l e r a t e th e
movement o f r e tu r n s from th e tim e th e y a r e r e c e iv e d u n t i l th ey have
been l i s t e d f o r assessm en t and forwarded t o W ashington.
This should
be done so t h a t many more o f th e l a r g e r ta x a b le r e tu r n s w i l l re a c h
Washington d u rin g th e month o f A p r il .
I t w i l l be n e c e s s a ry f o r th e In
come Tax U nit in Washington t o speed up i t s work so a v e ry s u b s ta n ti a l
number o f r e tu r n s t o be examined w il l re a c h th e Revenue Agents* o f f i c e s
by June 1 5 t h .
Likew ise i t w i l l be n e c e s s a ry f o r th e Revenue Agents*
f o r c e s t o a c c e l e r a t e t h e i r work so a s t o be re a d y t o begin th e examina
t i o n o f r e tu r n s by J u l y 1 s t , o r th r e e and o n e -h a lf months a f t e r f i l i n g
and to com plete th e exam in ation s by J u l y 1 s t o f th e fo llo w in g y e a r .
I f we a r e t o g e t b e s t r e s u l t s w ith t h i s program i t w i l l n ot be
p o s s ib le to a s s ig n revenue a g e n ts to a s s i s t ta x p a y e rs
o f r e tu r n s du rin g th e c u r r e n t f i l i n g p e r io d .
th e p re p a ra tio n
I t w i l l be p o s s i b le , how
e v e r , t o a s s ig n t o t h i s 4 u ty r e l i e f p r o j e c t employees who have been
engaged on income t a x e x a m in a tio n s.
e lim in a te d .
fie ld
U nnecessary e f f o r t must be
I have i n mind t h a t in th e c l a s s i f i c a t i o n o f r e tu r n s f o r
exam in ation th e utm ost c a r e must be e x e r c is e d so a s to av oid
u n n ecessary exam in ations which do n o t r e s u l t i n change o f t a x l i a b i l i t y .
I t i s a l s o my d e s i r e t h a t exam in ation s be conducted e x p e d itio u s ly and
- 2 -
w i l l « tt r e c a l l t h a t a t our m eeting in Ja n u a ry 1934 I emphasized to
you th e im p ortance o f in c re a s e d e f f o r t s in th e assessm en t and c o l l e c t i o n
o f back t a x e s .
Each o f you knows of th e r e s u l t s in your own d i s t r i c t
you have been kept inform ed by th e Bureau a s to what o th e r d i s t r i c t s
have been d o in g .
The r e s u l t s of t h a t m eeting and t h a t program have
been h ig h ly g r a t i f y i n g t o Mr. H elverin g and t o me and you have my most
s in c e r e thanks f o r th e f in e c o o p e ra tio n you gave us in working ou t th a t
program .
We now have a n o th er program b e fo re us and I b e lie v e i t t o be
one o f equal im p o rtan ce.
The Commissioner has t o ld you t h a t I am
g r e a t l y i n t e r e s t e d in speeding up th e movement and exam in ation o f
income t a x r e t u r n s .
I t i s my understanding t h a t during th e p a s t th e
av erag e exam in ation of income t a x r e tu r n s has been f i f t e e n months
a fte r filin g .
That i s , exam in ation s o f r e tu r n s f i l e d March 15t h were
commenced approximately on December 3 1 s t o f th e same y e a r and con
tin u e d t o December 3 1 s t o f th e fo llo w in g y e a r , o r one y e a r and nine
months a f t e r f i l i n g .
I b e lie v e ta x p a y e rs a r e e n t i t l e d to have e a r l i e r n o tic e t h a t
t h e i r r e tu rn s a r e being q u estio n ed and th e r e i s a p o s s i b i l i t y o f
a d d itio n a l t a x l i a b i l i t y .
F u r t h e r , c o l l e c t i o n o f d e f i c i e n c i e s may be
jeo p ard ized by d e la y in g d e te rm in a tio n o f d e f i c i e n c i e s f o r so long
a p erio d a f t e r th e income t o be ta x e d has been r e c e iv e d .
I t has been
th e e x p e rie n ce o f th e Bureau t h a t in many c a s e s where th e determ ina
t i o n of d e f ic ie n c y ta x e s i s to o long delayed th e ta x p a y e r ’ s a s s e t s
have been d is s ip a te d b efo re th e assessm ent i s made and e f f o r t s t o
Address o f S e c r e ta r y Morgenthnu "to th e C o ll e c to r s end
F i e ld S u p erv iso ry O f f i c i a l s of th e Bureau o f In
t e r n a l Revenue, Monday, Jan u ary 2 0 , 1 9 3 6 .
I am happy t o be a b le to g r e e t a l l o f you h ere i n Washington
a g a in and t o d is c u s s w ith you th e common problems o f our work*
I hope t h a t t h i s s e r i e s o f m eetings w i l l be p r o f i t a b l e t o a l l o f
us and w i l l r e s u l t in some r e a l g a in s in e f f i c i e n c y in th e I n t e r n a l
Revenue S e r v i c e .
I know how heavy th e t a s k i s t h a t a l l o f you have t o f a c e in
th e p re s e n t s i t u a t i o n } how much work each o f you have on your d e sk s,
and I r e a l i s e f u l l y t h a t i t has n o t been easy f o r you t o le a v e your
d i s t r i c t s a t t h i s tim e .
Y e t , th e
Pr o Sram w ith
wk i c h v.e a r e co n fro n ted i s so im p o rtan t t h a t Commissioner H elverin g
and I have f e l t f u l l y j u s t i f i e d in ask in g you t o come t o W ashington
a t t h i s tim e .
We f e l t t h a t t h i s m eeting was r e a l l y n e c e s sa ry and
t h a t i t would r e s u l t in g a in s t h a t would more th an compensate f o r
your absence from your p o s t s .
L e t us seek t o make th e s e m eetings
j u s t a s p r o f i t a b l e a s th e y ca n be made so t h a t a l l o f us w i l l go back
t o our normal ta s k s w ith a f a r b e t t e r id e a o f j u s t what we p lan t o do
and how we p lan t o do i t .
This i s th e second tim e s in c e I have been S e c r e ta r y o f th e
T reasu ry t h a t a l l th e F ie ld S u p e rv iso ry O f f i c i a l s o f th e I n t e r n a l
Revenue S e r v ic e have been brought to g e th e r h ere a t th e c a p i t a l .
You
(
d e t a i l s to Iio . j a i —
i
a
5
^
»*™ ffirwnffrrVtoTfc wi th
The d i f f e r e n t "branches o f th e f i e l d s e r v ic e w ill have group m eetings
w h ile h ere to work out th e d e t a i l s . /'T h e re a re o f c o u rs e ^ o th e r^ ro b le m s
^
M
»
U
—P
f\
/
t o be d is c u s s e d .
May I e x p re s s the hope th a t you w i l l fin d your
m eetings i n t e r e s t i n g and o f b e n e f it to th e s e r v i c e .
And ag ain may
I e x p re ss my a p p r e c ia tio n o f th e c o o p e ra tio n you have acco rd ed me in
th e p a s t and my e a rn e s t hope th a t you w i l l not f a i l in th e program which
I have j u s t p re se n te d to yo u .
-3 - •
U/-c
Oh
i t i^ jj ,
I iî^SrcfeF"¥rô,,iM
‘âV^,IgHd(&¿^Tf^l'qT^■l,'p i'suntan i t w il l not be p o s s ib le to a s s ig n
A
revenue a g e n ts to a s s i s t ta x p a y e rs in th e p r e p a ra tio n o f r e t u rn s during,
th e c u r r e n t f i l i n g p e rio d .
CS & X 4 U^YlJc
I t w i l l be p o s s ib le however to a s s ig n ( r e l i e f
/s
;
p r o j e c t employees who have been engaged on income t a x exam in âtions^*#*»*»
f,hf-...I ... ..........
U nncessary e f f o r t must be e lim in a te d .
I have in mind
t h a t in th e c l a s s i f i c a t i o n o f re tu rn s f o r f i e l d exam in ation th e utm ost
c a r e must be e x e r c id e d so a s to avoid u n n ecessary exam in ation s which do
n o t r e s u l t i n change o f t a x l i a b i l i t y .
I t i s a ls o my d e s ir e th a t examin
a t io n s be conducted e x p e d itio u s ly and w ith th e l e a s t p o s s ib le annoyance
and in con ven ien ce to th e ta x p a y e r c o n s is te n t w ith aa thorough exam ination
t o ' ¿4
when dâtfflVS" a d v is a b lé .
A
In ap p roach in g our o b j e c ti v e o f ad van cin g th e exam in ation o f re tu rn s
by s i x months to J u ly f i r s t and com pleting such exam in ation s w ith in
tw elve months, I ask th e e a r n e s t c o o p e ra tio n o f the C o lle c to r s * f o r c e s
and th e Revenue Agents* em ployees.
I know th a t i t i s a d i f f i c u l t ta s k
but I have co n fid en ce in y o u r a b i l i t y to accom plish rna rïhjoefri^ e. / I t
i s r e a l i z e d t h a t no easy t a s k has been asked o f you.
I r e a l i.ae t h a t the
ias any o f previous
C o l l e c t o r s ’ f o r c e s hsve a program t h i s y e a r which sunpaasaa
/\
y ears.
You have th e d u p lic a te re tu rn s t h i s y e a r f o r th e f i r s t tim e and
th e re i s much work to be perform ed in t h e i r h an d lin g.
d u tie s.
You have many other
I Having a l l o f t h i s in mind I am convinced from your performances
in th e p a s t th a t no Revenue A gents’ D iv is io n , th a t no C o lle c tio n D i s t r i c t
and th a t no B u reau D iv isio n o r S e c tio n w i l l f a i l in i t s
b u tio n to th e t a s k a t hand.
have only d is cu s s e d g e n e r a lly our o b j e c t i v e .
c o n tr i-
Îi—
There ~ - m i i T T ^
many
-2-
1S c
a d d itio n a l l i a b i l i t y .
F u r t h e r , c o l l e c t i o n o f d e f i c i e n c i e s may be
Jeo p ard ized by d e la y in g d eterm in atio n o f d e f i c i e n c i e s /s u c h
p e r io d a f t e r th e income to be t axed has been r e c e iv e d .
4Am-~- M
gt
j/n
W
lon g
I t has been
j.
th e e xp erien ce th a t in nktubura UT c a s e 3 where th e d e te rm in a tio n o f
A
A*
d e f ic ie n c y t a x e s i s too lo n g delayed th e t a x p a y e r 's a s s e t s have been
d is s ip a te d b e fo re the assessm en t i s made and e f f o r t s to c o l l e c t can
be s t a r t e d .
t i s my-d.es i r e to sh o rte n th e p e rio d o f exam in ation s and determ
in a tio n o f d e f i c i e n c i e s .
By
oi
^examination o f r e tu rn s th re e
and one h a l f months a f t e r f i l i n g , o r on J u l y 1 s t , th e av erag e examin
a t io n can be reduced from f i f t e e n months to nine months.
To do t h i s
i t w il l be n e c e s s a ry f o r th e C o lle c to r s * f o r c e s to a c c e l e r a t e th e move
ment o f r e tu rn s from th e tim e th ey a r e r e c e iv e d u n t i l th ey have been
l i s t e d f o r assessm en t and forw arded to W ashington,
done so th a t c rra.nsr.. on'hotarfr4 a i i^ - i .n»T.ar anA
T h is should be
0f th e l a r g e r ta x a b le
r e tu rn s w i l l re a c h W ashington during th e month o f A p r il .
I t w il l be
n e c e s s a ry f o r th e Income Tax U nit in Washington to aocA lA xate i t s work
so a v e ry s u b s ta n tia l number o f r e tu rn s to be examined w il l re a c h th e
Revenue A gen ts' o f f i c e s by June 1 5 th .
Likew ise i t w i l l be n e c e s sa ry f o r
th e Revenue A g en ts' f o r c e s to a c c e l e r a t e t h e i r work so a s to be read y to
b egin th e exam in ation of r e tu r n s by J u ly f i r s t , o r th r e e and one ha l f
months a f t e r f i l i n g and to com plete th e exam in ation s by J u l y f i r s t of
th e fo llo w in g y e a r .
1
May I , f k r s t o f a l l , exten d to you my g r a t i f i c a t i o n a t you r b ein g
p re s e n t and esgcpress th e hope t h a t you r v i s i t to Washington w il l r e s u l t
in many b e n e f i ts to th e I n t e r n a l Revenue S e r v ic e .
ta s k s b e fo re th e f i e l d b ran ch es e& th e s e r v i c e
I know o f th e many
t h i s tim e and I r e a l i z e
t h a t i t i s n o t ea sy f o r you to ab sen t y o u rs e lv e s from y o u r d i s t r i c t s ; and
y e t th e program w ith which we a r e co n fro n te d i s so im p ortan t th a t th e
Commissioner o f I n te r n a l Revenue and I have f e l t J u s t i f i e d in ask in g you
to come to W ashington,
T h is i s the second tim e s in c e I have been S e c re ta ry
o f th e T reasu ry t h a t a l l f i e l d s u p e rv iso ry o f f i c i a l s o f th e in te r n a l revenue
s e r v ic e have been brought t o g e th e r .
In Ja n u a ry , 1 9 3 4 , I s tr e s s e d to you
th e im portance o f in c re a s e d e f f o r t s in co n n ectio n w ith th e assessm en t and
c o l l e c t i o n o f back t a x e s .
You a re f a m i l i a r w ith th e r e s u l t s a ch ie v e d . You
have my most s in c e r e a p p r e c ia tio n f o r th e co o p e ra tio n you have exten d ed .
We now have an oth er program , and I m ight say i t ^ i s o f equal im portance.
The Commissioner has 1 llTorWd- ymi th a t I am pfb^&Q&ally i n te r e s t e d in
jBJstffcrg th e movement and exam in ation of income t a x r e t u r n s .
I t i s my under
sta n d in g t h a t d u rin g th e p a s t th e average exam in ation o f income t a x re tu rn s
h as been f i f t e e n months a f t e r f i l i n g .
That i s , exam in ations o f r e tu r n s f ile d
March 1 5 th were commenced ap p roxim ately on December 3 1 s t of th e same y e a r
and contin ued to December 3 1 s t o f th e fo llo w in g y e a r , o r one y e a r and nine
months a f t e r f i l i n g .
/ I b e lie v e tMfc* ta x p a y e rs a re e n t i t l e d to have e a r li e r
III l I
III M------ —
~
n o t i c e th a t t h e i r r e tu rn s a r e b ein g q u estion ed and th e r e i s a p o s s i b i l i t y of
TREASURY DEPARTMENT'
/
Washington
FOR RELEASE, UPON DELIVERY
Äbout 3:00 P.M., January 20, 1936,
\
V'
TREASURY
Washington
Press Service
Ho* 6 - r
?3
OR Ril^STS, UP°H BELXVS®
.tout 3:00 p . m „ January
¿v,
t „ r v Morgentheu to the Collectors^and
Address of Secretary M .«
of the Bureau of In
Field Supervisory Officia
20| 1936.
ternal Revenue, Monday,
.
1 am happy to he able
■
aU
'
o g
of you here in Washington again and
this’ gerles
of onr work. I kope
discuss with you the common prohl
meetings will he profitable to all of us and
•
the. Internal Revenue Service.
,efficiency i n the In
.
in the p resen t
h rv the task is that all of you have to face
I know how heavy the
realise fully
v. „* each of vou have on your desks, and
Ltuation; how m c h work each
^
^
Yet>
_ for Y0U to leave your distucto
“ * it has not been eas5
,
^ ^
Cocmissi0ner
. . , _r_ or p c o n fro n te d i s
r
he program w ith whic
[elvering and I have felt M . / 1 .
neoessary and that it would
we felt that this meeting was real „
1J J L
1
for ^
result in gains that woul
mor,
absence from * * *
•.
as profitable as they can he
Let us seek to make these
al tasks with a far better idea
... „ kfloV to our normal tasics
x so- that all
us W i l l go back
made
axx of
a
,
+n (10 and how we plan to do it.
posts,
«
**.
" ’
,
*£ . » „ . « « « «■» " * * • " “
This is the second time since
Service have been
officials of the Internal Revenue S
a U the n e l d Supervisory
^
^
recali that at our meeting
.
brought together h e re at ^the cap ^
^
"
"
1934 1 emP; S1 of ^
rf in c re a s e d e f f o r t s in the
taxes.
^
of you knows of the r e s u l t s In
assessment and collect*»
V „ vppn Icept informed by the n u
r,.
and you have been
your own distuct ana
a3 to „hat
*N, ..p*
oth.Gr districts nave "beGn doing«
2-
The results of* that meeting and that program
have Deen highly gratifying to Mr. Helvering and to me and yon have my most
sincex e thanks for the fine cooperation you gave us in working out that program,
We now have another program before us and I believe it to be one of equal
importance*
The Commissioner has told you that I am greatly interested in
speeding up the movement and examination of income tax returns.
It is my under
standing that during the past the average examination of income tax returns has
been fifteen months after filing*
That is, examinations of returns filed
March 15th were commenced approximately on December 31st of the same year and
continued to December 31st of the following year» or one year and nine months
after filing.
I believe taxpayers are entitled to have earlier notice that their returns
are being questioned and there is a possibility of additional tax liability.
Further, collection of deficiencies may be jeopardized by delaying determination
of deficiencies for so long a period after the income to be taxed has been re
ceived*
It has been the experience of the Bureau that in many cases where the
determination of deficiency taxes is too long delayed the taxpayer’s assets
have been dissipated before the assessment is made and efforts to collect
can
be started*
I should like to shorten the period of examinations and determination
of deficiencies*
By beginning examination of returns three and one-half months
after filing, or on July 1st, the average examination can be reduced from
fifteen months to nine months.
To do this it will be necessary for the Col
lectors’ forces to accelerate the movement of returns from the time they are
received until they have been listed for assessment and forwarded to Washington.
This should be done so that many more of the larger taxable returns will reach
Washington during the month of April*
It will be necessary for the Income Tax
Unit in Washington to speed up its work so a very substantial number of returns
to "be examined will reach the Revenue Agents’ offices "by June 15th,
Likewise
it will De necessary for the Revenue Agents’ forces to accelerate their work so
as to "be ready to "begin the examination of returns Ly July 1st, or three and
one-half months after filing and to complete the examinations "by July 1st of
the following year«
If we are to get best results with this program it will not "be possible to
assign revenue agents to assist taxpayers in the preparation of returns during
the current filing period.
It will "be possible, however, to assign to this
duty relief pfdject employees who have "been engaged on income tax examinations.
Unnecessary effort must "be eliminated,
I have in mind that in the classifica
tion of returns for field examination the utmost care must "be exercised so as to
avoid unnecessary examinations which do not result in change of tax liability.
It is also my desire that examinations be conducted expeditiously and with the
least possible annoyance and inconvenience to the taxpayer consistent with a
thorough examination when that is considered advisable.
In approaching our objective of advancing the examination of returns by six
months to July 1st and completing such examinations within twelve months, I ask
the earnest cooperation of the Collectors’ forces and the Revenue Agents* em
ployees,
I know that it is a difficult task but I have confidence in your
ability to accomplish it.
It is realized that no easy task has been asked of you.
I know that the
Collectors* forces have a program this year which is heavier than any of pre
vious years,-
You have the duplicate returns this year for the first time and
there is much work to b© performed in their handling*
You have many other duties.
Having all of this in mind, I am convinced from your performances in the
past that no Revenue Agents’ Division, that no Collection District and that no
Bureau Division or Section will fail in its contribution to the task at hand,
~ 4 I have oply discussed, generally the objective we have in mind*
There are
many details to he considered». The different branches of the field service
will have group meetings while here to work out the details*
There are* of course, many other problems to be discussed*
This is so
definitely a business meetings with all that that implies, that I am speaking
to you only very briefly and am not allowing myself,
the time to express my
great gratification at the zeal and intelligence which all of you have devoted
to your work since I have been Secretary of the Treasury*
I do, however, wish
to thank you especially for the fine work that so many of you have done in ad
vancing a project outside the regular line of your duties, in furthering the
Treasury's campaign to promote the sale of United States -Savings Bonds*
feel that those efforts have been well spent*
I
I think they have helped us all
to realize our common problems and they have done a great deal to acquaint
citizens all over the country with the responsibility and the problems of a
democratic government*
We are all gratified at the results that have been
achieved*.
In closing let me express the hope that you will find your meetings here
interesting and that you will gain new support and new confidence from your
contacts with your colleagues in the service and that there will be genuine
and lasting benefits to the public service and to each of us individually.
Again permit me to express my appreciation of your fine cooperation in the past
and my earnest hope and confidence that you will not fail in the new and
difficult program that we are presenting to you*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. January 21. 1986»
1/20/86
Press Service
&- y
Secretary of the Treasury Morgenthau announced
last evening that the tenders for $50,000,000, or there
abouts, of 278-day Treasury bills, dated January 22, 1936,
and maturing October 21, 1986, which were offered on
January 17, were opened at the Federal Reserve banks on
January 20«
The total amount applied for was $212,610,000,
of which $50,$80,000 was accepted.
The accepted bids
ranged in price from 99.9B% equivalent to a rate of
about 0.090 percent per annum, to 99.927, equivalent
to a rate of about 0.096 percent per annua, on a bank
discount basis. Only part of the amount bid for at the
latter price was accepted. The average price of Treasury
bills to be issued is 99.9^ and the average rate is
about
percent per annum on a bank discount basis.
f
9
.
0
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Tuesday, January 21, 1936._____
1/20/16
Press Service
No. 6 - 7 4
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury hills, dated
January 22, 1936, and maturing October 21, 1936, which were offered on January
17, were opened at the Federal Reserve banks on January 20.
The total amount applied for was $212,610,000, of which $50,130,000 was
accepted.
The accepted bids ranged in price from 99.932, equivalent to a rate
of about 0.090 percent per annum, to 99.927, equivalent to a rhte of about
0*096 percent per annum, on a. bank discount basis.
bid for at the latter price was accepted.
Only part of the amount
The average price of Treasury bills
to be issued is 99.929 and the average rate is about 0.094 percent per annum
on a bank discount basis
Other Operations
The Secret Service reported 3,858 arrests during the
year* Counterfeit notes and coin bearing a face value of I
$1,342,801*48 were confiscated. Counterfeit currency to
a total of $353,407 and coins to the amount of $4,593.45 i
seized before entering into circulation«
The Intelligence Unit reported ten convictions and
two acquittals in cases brought against Internal Revenue :
employes, and 63 convictions and 13 acquittals in cases
brought against other persons. During the calendar year
76 individuals were indicted for violation of the
income tax laws; in income tax cases brought to trial the
were 35 convictions and seven acquittals.
^oth the Secret Service and the Intelligence Unit
gave assistance to the other law enforcement agencies
in their liquor and narcotics operations.
the first eleven months of
Total Customs seizures dating.the year numbered
K
17,272, with a value of $1,655,963, these figures indudij
the liquor and narcotics seizures reported under
those
headings. Arrests by the Customs service for all classes <
lawviolations
totalled 1,005«
m
##
(Note-
More detailed data covering the operations I
-
of the six agencies is available at Room 289)
,/T
apprehended 24 aliens, in its own operations; and particip^
with other agencies in cases involving 58 arrests, the seizi
of 17 vessels and more than 60,000 gallons of illicit liquoi
foreign and domestic.
The total appraised value of property
seized by the C o a s t auard directly was #658,720 and of that
seized in its operations with other agencies was #390,580.
fihe larger part of the^seizures and arrests dealing with
liquor cases are covered in the reports of the Customs end
Alcohol Tax unit operations^
u&u*.
IwU'i
>
fnsr>x^.«T—.
U*
e*
Narcotics Operations
The Bureau of Customs reported 266 narcotics'seizures
for the first eleven months of the calendar year, the
contraband being valued at #90,799* T-t included 1,721 ounce
of crude opium, 8,322 ounces of smoking opium and 553 ounce'
of other narcotics. Xn connection with these cases the
Bureau seized 102 automobiles and two boats.
The Bureau of Narcotics reported seizures and
purchase by agents of 7,108 ounces of narcotics, including
917 ounces of crude opium and 3,856 ounces of smoking opium
These seizures are additional to those reported by Customs.
la the first ten months of the calendar ;
year there were 2,560 convictions in narcotics cases, with
sentences aggregating 4,689 years and fines totalling
$171,510.
Summarized
by
naporte
of l a w e n f o r c e m e n t
six T r e a s u r y D e p a r t m e n t
y e a r 1935,
were made
Under
public
the p l a n put
Morgenthau beginning
agencies
-
Tax Unit
and
Service
- have
operations,
liquor
the
into
effect by Secretary
late
Bureau
Bureau
summer
of 1934,
of C u s t o m s ,
of
the
the six
the A l c o h o l
Bureau
of N a r c o t i c s a n d
closely coordinated
of
the Secret
their enforcement
e s p e c i a l l y i n c o m b a t t i n g the
smuggling
of
a n d of n a r c o t i c s .
Liquor
During
t he f i r s t
B u r e a u of C u s t o m s
of a l c o h o l a n d
the
calendar
I
Intelligence Unit
Internal Revenue,
during the
today*
in the
Coast Guard,
the
agencies,
operations
seizure
in
eleven months
reported
the
other liquors,
at | 4 2 , 9 9 4
end
of t h e
seizure
valued
of 4 8 b o a t s v a l u e d
mobiles valued
$1,850,
Operations
of 1 1 3 , 2 3 1
at # 9 9 0 , 6 7 4 ,
at $120,714,
of a n
connection w i t h liquor
y e a r the
of
gallons
and
a]
215 auto
a i r p l a n e v a l u e d at
violations.
T‘he Alcohol Tax U nit, in the e n tire calendar year)
seized 16,585
gallons
s t i l l s , 9 0 4 , 2 9 5 g a l l o n s of s p i r i t s , 19,024,
a nd
of m a s h j y 5 , 1 7 1 a u t o m o b i l e s , a n d m a d e 3 1 , 4 8 0 arres
The value
mash,
the p r o p e r t y
and listing
The
foreign
of
stills
Coast Guard
alcohol
and
seized,
at
exclusive
junk value,
s e i z e d 41 v e s s e l s ,
other
liquor,
made
was
of
spi r i t s aj
$4,993,232.j
4 3 , 7 3 3 gallons;
65 a r r e s t s
and
]
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday. January 23, 1936,
1-22-36. 'r.M
Press Service
No * 6“75
Summarized data of law enforcement operations by six Treasury Department
agencies, during the calendar year 1935, were made public today.
Under the plan put into effect by Secretary Morgenthau beginning in the
late summer of 1934, the six agencies - Coast Guard, Bureau of Customs, the
Alcohol Tax Unit and the Intelligence Unit of the Bureau of Internal Revenue,
the Bureau of Narcotics and the Secret Service - have closely coordinated their
enforcement operations, especially in combatting the smuggling of liquor and
of narcotics.
Liquor Operations.
During the first eleven months of the year the Bureau of Customs reported
the seizure of 113,231 gallons of alcohol and other liquors, valued at $990,674,
and also the seizure of 48 boats valued at $120,714, of 215 automobiles valued
at $42,994 and of an airplane valued at $1850, in connection with liquor violations
The Alcohol Tax Unit, in the entire calendar year, seized 16,585 stills,
904,295 gallons of spirits, 19,024,225 gallons of mash and 5171 automobiles,
and made 31,480 arrests. The value of the property seized, exclusive of spirits
and mash, and listing stills at junk value, was $4,993,232.
The Coast Guard seized 41 vessels, 43,733 gallons of foreign alcohol and
other liquor, made 65 arrests and apprehended 24 aliens, in its own operations;
and participated with other agencies incases involving 58 arrests, the seizure
of 17 vessels and more than 60,000 gallons of illicit liquor, foreign and domestic.
The total appraised value of property seized by the Coast Guard directly was
$658,720 and of that seized in its operations with other agencies was $390,580.
The larger part of the Coast Guard seizures and arrests dealing with liquor cases
*
«(•*
—2~
are covered in the reports of the Customs and Alcohol Tax Unit operations,
prisoners and property having "been turned over to these agencies under the
coordinated plan.
Uarcotics Operations
The Bureau of Customs reported 266 narcotics seizures for the first eleven
months of the calendar year, the contraband being valued at $90,799.
It included
1721 ounces of crude opium, 8322 ounces of smoking opium and 553 ounces of other
narcotics.
In connection with these cases the Bureau seized 102 automobiles and
two boats,...
The Bureau of Narcotics reported seizures and purchasesby agents of 7108
ounces of narcotics, including 917 ounces of crude opium and 3856 ounces of smoking
opium.
These seizures are additional to those reported by Customs.
In the first
ten months of the calendar year there were 2560 convictions in narcotics cases,
with sentences aggregating 4689 years'and fines totalling $171,510.
Other Operations
The Secret Service reported 3858 arrests during the year.
Counterfeit coins
and notes bearing a face value of $1,342,801*48 were confiscated.
Counterfeit
currency to a total of $353,407 and coins to the amount of $4,593.45 were seized
before entering into circulation..'
The Intelligence Unit reported ten convictions and two acquittals in cases
brought against Internal Revenue employes, and 63 convictions and 13 acquittals
in cases brought against other persons.
During the calendar year 76 individuals
were indicted for violation of the income tax laws; in income tax cases brought
to trial there were 35 convictions and seven acquittals.
Both the Secret Service and the Intelligence Unit gave assistance to the
other law enforcement agencies in their liquor and narcotics operations.
-3Total Customs seizures during the first eleven months of the year numbered
17,272, with a value of $1,655,963, these figures includi-g the liquor and
narcotics seizures reported under those headings.
Arrests by the Customs Service
for all classes of law violations totalled 1005.
ooOob
(UQTE:
More detailed data covering the operations of the six agencies is
available at Room 289)
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
January 27, 1936
RECEIPTS OP SILVER 3Y THE MINTS AM) ASSAY OEPICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended January 24, 1936:
Philadelphia.......................
San Francisco........................
Denver .. ...... .
Total for week ended January 24, 1936..
Total receipts through January 24, 1936
•
....
....
....
....
150,383.42 fine ounces
552,690.79
»
»
5,521T05
«
»
708,595,26
*
"
62^618»j00Q* 00
»
»
SIpVER TRANSFERRED TQ UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended January 24, 1936:
Philadelphia...... ........
New York....... .........
San Francisco...........
Denver ............. .......
New Orleans........................
Seattle......................
Total for week ended January 24, 1936..
Total receipts through January 24, 1936
3.571.00 fine ounces
4,391.85
»
»
2.486.00
»
»
362.90
"
»
310.78
'»
«
11,122.53
112,382,820.06
»
»
"
»
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended January 24, 1936:
Imports
Secondary
Domestic
Philadelphia ................
$
4,822.16 $140,266.62 $
388.68
New York ..............
6,307,300.00 217,500.00
76,300.00
San FrancisCo.................
220,833.22
47,624.15 1 ,694,246.55
Denver...... .........
51,499.74
34,243,24
490,644.61
New Orleans ....... .............
34,557.41
594,53
Seattle ............
15,487.99 __ 209,323.94
Total for week ended January 24, 1936., $6,584,455.12
$489,679.41 $2 ,471,498.31
COIjD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER1S OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Re serve Banks: Oold Coin
Week ended January 2 3...... . ...$
18,352.14
Received previously. ........... 31,111.802.25
Total to January 22. ... ........$31,130,154.39
Received by Treasurer’s Office
Week ended January 2.2..... .
Received previously........
Total to January 22.........
ROTE.
••$
$
--------------------------------
-
266.756.00
266,756.00
G-old bars deposited with the New York Assay Office
in the amount of $200,572,69 previously reported.
Q-old Certificates
$
360,900.00
102.301,680.00
$102,662,580.00
$
$
5,400,00
2,358.700,00
2,344,100.00
TREASURY D1PARTMSIT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, January 28, 1986.
1/27/86
Press Service
4 - 1 (a
Secretary of the Treasury Uorgenthau announced last
evening that the tenders for $60,000,000, or thereabouts,
of 273-day Treasury bills, dated January 29, 1986, and
maturing October 28, 1936, shieh were offered on January
24, were opened at the Federal Reserve banks on January 27.
The total amount applied for was $170,807,000, of
which $50,074,000 was accepted. The accepted bids ranged
in price from 99.984, equivalent to a rate of about 0,087
percent per annum, to 99.924, equivalent to a rate of about
0.100 percent per annum, on a bank discount basis. Only
part of the amount bid for at the latter prioe was accepted.
The average price of Treasuiy bills to be issued is 99.926
and the average rate is about 0.098 percent per annum on a
bank discount basis.
TREASURY DEPARTMENT
Washington
Press Service
No, 6 - 76
JOE EELS ASS, MORNING NEWSPAPERS,
Tuesday« Japuary 28, 1936»
1/27/36 I
Secretary of the Treasury Morgenthau announced last evening that the tenders
and maturing October 28, 1936, which were offered on January 24, were opened at the
Federal Reserve banks on January 27,
The total amount applied for was $170,307,000, of which $50,074,000 was
accepted.
The accepted bids ranged in price from 99,934, equivalent to a. rate of
about 0,087 percent per annum, to 99,924, equivalent to a rate of about 0,100
percent per annum,, on a. bank discount basis.
the latter price was accepted.
Only part of the amount bid for at
The average price of Treasury bills to be issued
is 99,926 and the average rate is about 0,098 percent per annum on a, bank discount
basis.
~*oo0o~
Jesttugr ®§f 1956#
Dear Gloyd«
four letter addressed to me stating you desire
to return to private practice is before me*
Permit me to express
service rendered
m First Deputy
&ppreci&ti;>n of the fine
Comptroller is * period of
stress which cun never be forgotten*
four strict applica
tion to duty, your long training la the Comptroller* $ office
perfectly fitted you for the task you performed so well*
It
is a pleasure indeed to look back for almost three years and
recall that not a single incident marred our official rela
tions or strained a friendship I value so highly*
Into the
broader field of the lav, you carry ay best wishes#
Tm
legal profession gains a thoroughly grounded
expert la banking law,
md
your industry
md
application will
insure your continued success*
I have trenemitted your letter to the Secretary*
Cordially yours,
J. F, T* 0*0081101,
C om p troller*
S r* F * G* A w ait,
Deputy C o m p troller*
Jamt&rf 18# Itti#
Demy Mr* 0•Colmar*
B*we « t e
«go I told jom of stgp basire
te 1#«^# thè Coreraorcnt eervloe
pmùilm
of
1 m%
%
ji1ì® ì
mà
return to thè private
uve noe «empiete ami acc&riijfsgXy
I «acloi&e «gr reslgn»tt<m e# First Depu^ Cettptroller of thè
0mttmvy
md
Gatmeel to thè Ckrmpiroller «ddreeeed to thè
Beerete*? #f thè
Trmmuy end m%mm% fm
ymr vmfomzmteVM
te farvevd it wlth
m
t&mi it te aeeepted
#f M m e s g r 2Jt
U Mm
IKehjr 1 expree» io
thè eorfìdenee yosi
werklag vith ycm«
a ? eppreeieticm o f
placai ir* &© ami thè pl«%eare of
It le witb e deep feeling of regret
that X ««ver a$r officiai cosmeetlon vrlth thè Ceaptroller1#
office#
Siocerely yeera*
?* G# Atllf*
Deputy CoeptreUer«
iloaorable J#F* f* O^Goanor*
Cowptreller of thè Currtnegr«. SIl<*,
GouxiseX*
My dear Mr*
Ava.ltt
Since you have expressed to m
& so firmly
your fixed desire to reenter the private practice
of law I && reluctantly accepting your resigna
tion an Deputy Comptroller of the Currency and
Counsel to be effective on February 15, 1956*
four record of sixteen years of able and
loyal service in the treasury Department is an
enviable one* fou have crowned it with work of
the heaviest responsibility in the Comptroller*a
office in one of the most difficult periods that
office has ever mm9 and in every crisis, every
duty and every responsibility you have acquitted
yourself nobly*
X have valued your advice and support and
I regret deeply your leaving*
wishes go with you*
My heartiest good
bine©rely yours,
Meoretary of the Treasury*
Mr* F* G # Await,
Deputy Comptroller and Counsel,
Treasury Department*
Jarm&ry IB, 19S6*
Bear Mr. Secretary*
I herein tender my resignation as
First Deputy Comptroller of the Currency and Counsel
to the Comptroller to become effective February IS,
19$$*
Having served in the Treasuiy for
almost sixteen years under five Secretaries, it m s
with difficulty that I mad© up isy mind to take the
present step of severing my official connections with
ssy friends
md
associates.
I feci, however, that I
should return to the private practice of lev*
May X express to you ay sincere
appreciation for the confidence you have placed in
me
and the pleasure I have experienced in being a part
of your administration *
Sincerely yours,
F. 0* A I M ,
Deputy Comptroller.
Honorable Henry Morgenthan, Jr.,
Secretary of the treasury
811
coun-el
Suggested draft of letter from the President#
My dear Mr# Await*
I learn Kith real regret that you are about to leave the
Government service after so many years of able and devoted work
in responsible positions in the Treasury Department#
Maturally I am best acquainted with the remarkably wise
and competent manner in which you carried on the duties of Acting
Comptroller in the heart of the banking crisis in the early days
of my administration and with the fine assistance that you have
given to Secretaries Woodin and Morgenthau and to Comptroller
O ’Connor since then.
For this great service you deserve and you
have my most sincere gratitude and you deserve also the gratituae
of the Mation*
It has been encouraging to me to be able to rely
continued loyal support and you have
my good
on your
wishes as you leave
the public service with a clear record of good work well done*
Sincerely ,
Mr* F# u• Await,
Deputy Comptroller and Counsel,
Treasury Department#
da&u&ry IS,
IBM
Iy £*«r Sr* fVM&loatt
I lt«*9 Ifeis day ¡mtaaiitsd to
m
tfco t o m t e x y *f th* &*ft»i»ry «y
H r * t Sopoty Comptroller o f tho Currm®? mi
to tte* (kmptroll«r to tafcs «¿foot f®bmmr? IS , i§Ba#
I t 1« ay
to r<s#ijUr U>* private pratetie»
of i«w*
X *«M»t
mMptemi&g 10 ym w$
r®tmlnfrommg^im
of your e a m p
m& tm dm m ip telmg H*» 4ar&; day® oamwtflog Sf|
holiday
you »s Acting
tkm
I ^«4 the honor of *srviik£ under
Comptroller of tho Currency*
F a i t h f u l l y yours,
F* Q* » ! ,
Soputy Cooptroll«!»*
Hi* Honorable,
ft*«*
311(1
Counsel.
Pm&ldmtof the Qaltod State®*
v
«
FORR KELA;SE
é
Secretary
'iMfBTTl'U JIWIMimj today announced
that F.G. Await, First Deputy Comptroller of the Cur
rency and Counsel to the Comptroller, has resigned
effective February 15, 1936, to
it*
A.
(jkjZXm
$jg
c
a
x
I «
a
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ÛLaji
ou%
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4
TREASURY DEPARTMENT
Washington
Press Service
No. 6-77
JOS. IM'CEDIATE RELEASE
jrid-ay, January 31. 1936.
Secretary Morgenthau today announced that E. G-. Await, Eirst Deputy Comptroller of the Currency and Counsel to the Comptroller, has resigned effective
February 15, 1936, to reenter the private practice of law.
The Secretary made
public a letter from the President to Mr. Await, together with Mr. Await1s letter
to the President and his correspondence with the Secretary and Comptroller of the
Currency 0*Connor.
They are as follows:
”January 15, 1936.
My dear Mr. President:
I have this day submitted to the Seere tary of the Treasury my
resignation as First Deputy Comptroller of the Currency and Counsel
to the Comptroller to take effect February 15 , 1936. It is my intention to reenter the private 'practice of law.
I cannot refrain from again expressing to you my groat admira
tion of your courage and leadership during, the dark days surrounding
the banking holiday when I had the honor of serving under you as
Acting Comptroller of the Currency.
Faithfully yours,
(Signed) F. C, AWALT
Deputy Comptroller and
Counsel•
The Honorable,
The President of the United States.11
-
2—
11January 31, 1936.
My dear Mr. Await:
t-3 S?
I learn with regret that you arc at>out to-leave tne Government service
ftcr so nany y liars of able and devoted work in responsible positions in the
reasury Department.
Naturally I am best acquainted with the remarkably wise and competent nanner in Which you carried on the duties of Acting Comptroller in the heart of the
banking crisis in the early da's of ny acininis tration and with the fine assist
ance that you have given to Secretaries Goodin and Morgenthau and to Comptroller
O’Connor since then. For this great service y ou deserve and you have my most
sincere gratitude and you deserve also the gratitude of the Ration.
It has been encouraging to me to be able to rely on '^our continued lo^al
support and you have my good wishes as you leave the public service with a clear
record of good work well done.
Sincerely,
(Signed) FRANKLIN D, ROOSEVELT
Mr. F.Cr. Await,
Deputy Comptroller and Counsel,
Treasury Department.1’
11January” 15, 1936,
Dear Mr. Secret ary:
I hereby tender my resignation as First Deputy Comptroller of the Currency
and Counsel to the Comptroller to become effective February 15, 1536.
Having served in the Treasury for almost sixteen years under five
Secretaries, it was with difficulty that I made up ny mind to take the present
step of severing my official connections with qy friends and assoc iates. I feel 9
however, that I should return to the private pr actice of law*
May I express to you ny sincere appreciation for the confidence you have
placed in me and the pleasure I have experienced in being a part ox your
adni ni s trat ion .
Sincerely vour s,
(Signed) F.G. AT7ALT
Deputy Comptroller and Counsel.
Honorable Henry Morgenthau, Jr .%
Secretary of the Treasury*w
j>
"Januar' 30, 1936«
My dear Mr. Awrlti
Since jfoti hfCVe expressed to me so firmly your fixed desire to reenter, the
oriente practice of lav? I am reluctantly accepting your resignation as Deputy
Comptroller of the Currency and Counsel’to he effective on February 15, 1936.
Your record of sixteen year's of able and loyal service in the Treasury De
partment is an enviable one. You have crowned it with work of the heaviest re
sponsibility in the Comptroller's office in one of the most difficult periods
that office has ever seen, and in every crisis, every duty and every responsibility
you nave acquitted yourself nobly.
I have valued your advice and support and I regret deeply vour leaving.
My heartiest good wishes go with "you.
Sincerely yours,
(Signed) KSïîHY MORGENTHAU, JR.
Secretory of the Treasury.
Mr. 7. G. Await,
Deputy Comptroller and Counsel,
Treasury Department.,f
"January 15, 1936.
Dear Mr. O'Connor;
Some months ago I told you of ray desire to leave the Government service and
return to the private practice of law. My plans .are now complete and accordingly
I enclose my resignation as First Deputy Comptroller of the Currency and Counsel
to the Comptroller addressed to the Secretary of the Treasury and request you to
forward it with your recommendation that it be accepted as of February 15, 1936.
May I express to you ray appreciation of the confidence you have placed in
me and the pleasure of ’.forking with you. It is with a deep feeling of regret that
I sever my official connection with the Comptroller's office.
Sincerely yours,
(Signed) F. G. AWALT
Beputy Comi)troller and. Counsel
Honorable J.F.T.O'Connor,
Conrotroller of the Currencv."
~ 4 -
”January 29, 1936.
Dear Gloyd:
Tour letter addressed to me stating you desire to return to private practice
is "before me*
Permit me to express my appreciation of the fine service rendered as First
Deputy Comptroller in a period of stress which can never be forgotten.
Your
strict application to duty, your long training in the Comptroller’s office perfect
ly fitted you for the task you performed so well.
It is a pleasure indeed to look
back for almost three years and recall that not a single incident marred our
official relations or strained a friendship I value so highly. Into the broader
field of the law, you carry my best wish-es.
The legal profession gains a thoroughly grounded expert in banking law, and
your industry and application will insure your continued success#
I have transmitted your letter to the Secretary.
Cordially yours,
>
(Signed) J. F. T. 0 !G(OT0R
Comptroller
Mr. F. G. Await,
Deputy Comptroller,”
(°
3//
/ f
3-4-
I
The f o l l o w i n g e l e v e n c i t i z e n s h a v e b e e n
a p p o in te d by P r e s id e n t
R o o s e v e l t on t h e A n n u a l
A s s a y C o m m is s io n :
. C a ry A , H a rd e e , W a s h in g to n , D . C .
C a p t. L o u is S c h m id t, P h ila d e lp h ia
M rs * C u r t i s R o k , P h i l a d e l p h i a
M i s s T h e lm a P a r k i n s o n , V i n e l a n d , N . J •
D r. R a l e i g h G i l c h r i s t , W a s h in g to n D . C.
L . E . B ro w n , W a s h in g to n
D . C.
J o h n K i r k G u n b y, S a l i s b u r y , M d.
W. C . A r t h u r , Me a d v i l l e , ^ a . ,
M rs * H . H . W i l l i a m s , New Y o rk C i t y .
E r n e s t H e p p e n h e im e r, J e r s e y C i t y , N . J .
H a r r y T . G ra h a m , W i l m i n g t o n , D e l .
M r s . N e l l i e '¿ a y l o e A1o s s , D i r e c t o r o f t h e
M in t, h a s n o t i f i e d e ach o f th e e le v e n
o f th e a p p o in tm e n t.
The ^ C -m m is s io n w i l l m e e t a t
t h e P h i l a d e p h i a M in t on F e b r u a r y 1 2 , f o r a tw o o r t h r e e
s e s sio n .
The f u n c t i o n o f t h e c o m m is s io n i s t o make
t e s t s o f w e i g h t and f i n e n e s s o f c o i n s s e l e c t e d f r o m th e
v a r io u s c o in a g e m in ts .
The p r a c t i c e o f m a k in g a n n u a l
t e s t s d a t e s f r o m t h e e s t a b l i s h m e n t o f t h e M in t i n 1 7 9 2 .
I n a d d i t i o n t o t h e m em b ers a p p o i n t e d b y t h e
P r e s i d e n t , th e f o l l o w i n g a r e e x o f f i c i o m em b ers:
D is tric t
O l i v e r B . D ic k in s o n , I s & s x x l: U n ite d S t a t e s
Ju d g e , E a s te r n D i s t r i c t o f P e n n s y lv a n ia .
J.
S ta te s
F.
T.
O’ C o n n o r ,
C o m p t r o l l e r o f th e
Jo se p h F . B u fo rd , J r . ,
A s s a y O f f i c e , ^ew Y o r k .
C u rr e n c y
C h i e f A s s a y e r , U n ite d
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Saturday, February 1, 1936.
Press Service
No. 6-78
The following eleven citizens have been appointed by President Roosevelt on
the Annual Assay Commission:
Cary A. Hardee, Washington, D.C.Captr Louis Schmidt, Philadelphia
Mrs. Curtis 3ok, Philadelphia
Miss Thelma Parkinson, Vinela>nd, N. Jr
Dr., Raleigh G-ilchrist, Washington, D.C.
L^E. Brown, Washington, D.C.
John Kirk Gunby, Salisbury, Md.
W.C, Arthur, Meadville, Pa.
Mrs*
Williams, New York City
Ernest Heppenheimer, Jersey City, N.J.
Harry T. Graham, Wilmington, Del.
Mrs. Nellie Tayloe Ross, Director of the Mint, has notified each of the 11
of the appointment.-
The Commission will meet
February 12, for a two or three-day session.
dt the
Philadelphia Mint on
The function of the commission is
to make tests of weight and fineness of coins selected from the various coinage
mints.
The practice of making annual tests dates from the establishment of the
Mint in 1792*
In addition to the members appointed by the President* the following are
ex-officio members:
Oliver B. Dickinson, United States District Judge,. Eastern District of Penn
sylvania.
J.E*T. O ’Connor, Comptroller of the Currency,
Joseph E. Buford,. Jr., Chief Assayer, United States Assay Office, New York.
ooOoo
TREASURY DEPARTANT
Washington
MEMORANDUM FOR THE PRE SS'
February 3, 1936.
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES;
(Under Executive Proclamation of December 21, 1933) as amended
Week ended January 31, 1936:
Philadelphia........... ........................
San Francisco ......... ........................
Denver ........................ . .................
Total for week ended January 31, 1936 .... .
Total receipts through January 31, 1936 .......... .
106,483.43 fine ounces
637,580.06
n "
4,478.61
"
*
748,542.10
"
"
63,367,461.05
ff
»
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, .1934)
Week ended January 31, 1936:
Philadelphia .......................
New Y o r k ..... ......................
San Francisco ......................
Denver ............. ............... .
New Orleans ......... ...............
Seattle ......... ...................
Total for week ended January 31, 1936.*
Total receipts through January 31, 1936
3.307.00
2.679.00
3.007.00
1,149.50
113.15
_ _ _
10,255.65
112,393,075.91
"
»
ff
"
"
tf
"
"
"
"
"
»
u
"
"
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES :
Week ended January 31, 1936:
Imports
Philadelphia .............. .....
$
6,906.80
New York.................... .
641,100.00
San Francisco ...... ............
615,089.64
Denver ............. .......... ..
15,977.74
New Orleans ......... .
2,379.04
Seattle....... ..............
_ _ _
Total for week ended January 31, 1S36.$1,281,453.22
New
Secondary
Domestic
$ 134,926.03 $
694.12
244,400.00
238,100.00
48,656.07 1,428,753.89
413,285.39
22,399.75
12,807.51
1,378.08
10.605.97
43.604.13
$ 467,495.33 $2,132,115.61
GOLD RECEIVED BY FEDERAL IESERVE BAKES AND THE TREASURER1S OFFICE:
(Under Secretary's Order of December 28, 1933)
Received by Federal Reserve Banks:
Gold Coin
Week ended January 29, 1936
$
10,432.08
Received previously ......
31,130.154.39
Total to J ' n u 2.9, 1936 ..
$31,140,586.47
Gold Certificates
$
315,670.00
102.662,580.00
$102,978,250.00
Received by Treasurer-’s Office
Week ended January 29, 1936.
Received previously .......
Total to January 29, 1936 ..
$
1QTE:
$
$
300.00
266.756.00
267,056.00
$
Gold bars deposited with the New York. Assay Office
in the amount of $200,572.69 previously reported.
34,900,00
2,344.100.00
2,379,000.00
Qxmom
m s M û t i œ
F i r s t 31a Months o f tb s F i s c a l Tours 1955
.... 1 r r " "............. Î
T ra n s a c tio n *
F i r s t S ix
t
j
t F i r s t
Months
S ix
1955
m w..iLjjttaip>‘»v ^ » .a g tti!B«MBaegg«ae a a !g a a c g a« a Æ X X i » J B i U 8 ^
s
fS|É 1956
P e r Cent
Ifcnths
I
:
19756
i
i
of
Ingres»«
lumber o f e s t r i s »
T rè s canauBsptien e n t r i e s
F 8 t926
D u tiab le consumption e n t r i e s
1 5 8 »841
¿ereh ou ss m û rew arebeuee e n t r i e s
2 7 ,6 9 5
M a il, b a g a g e end o th e r e n t r i e s
_______ 9 7 7 ,0 6 6
9 0 ,5 9 8
1 6 2 ,2 0 9
3 5 ,5 8 0
1 ,0 8 8 ,0 8 7
14*8
le.a
1 ,2 2 2 ,5 2 6
1 ,3 7 9 ,4 7 4
12*5
7 9 1 ,8 1 2 ,0 0 0
$ 1 ,0 6 3 ,2 3 8 ,0 0 0
3 3 .1
B u s ie r o f v e s s e ls e n te r in g th e
United vita te e d i r e c t fro®
f o r e ig n p o r t s
1 6 ,1 6 6
1 6 ,9 5 5
4*1
$uarifeer o f autom obiles e n te r in g
th e United S t a t e s
5 ,2 0 9 ,5 4 1
5 ,6 0 5 ,7 7 5
7 .6
2 3 ,2 8 4 ,7 9 9
8 4 ,9 0 4 ,7 4 1
7 .8
1 8 9 ,8 5 8 ,7 0 6
1 ,0 4 3 ,6 8 7
1 0.9
1 0 .5
9 ,4 0 4 ,5 2 5
• 5 .9
1 9 9 ,8 0 8 ,9 1 ?
1 0 .0
T o ta l e n t r i e s
T elu s o f Im ports
P erso n s e n te r in g th e u n ited S t a t e s
C o lle c tio n s by Customs o f f i c s r s
D u ties
'
O ther O uatées c o l l e c t i o n s
C o lle c tio n s f o r o th e r
Governmental a g e n c ie s
T o ta l c o l l e c t i o n s
t
1 7 0 ,5 8 0 ,»17
9 4 6 ,3 7 2
9 ,9 9 3 ,8 7 6
f
1 8 1 ,6 2 3 ,6 6 3
Kunber o f e x p o rt d e c l a r a t i o n s
? a lw of e x p o rt.
I| fS *
Minus s ig n { - )
i
1 ,4 1 2 ,3 5 9
t l , 1 0 8 ,8 1 9 ,0 0 0
i n d i c a t e s d e c re a s e
I
21.0
1 0 .9
1 ,5 5 5 ,0 4 4
I I ,2 4 5 ,9 7 0 ,0 0 0
It .*
c
!a
5
lr
FOR
Tues
2-o■
Marked increase« in transactions of the
Bureau of Customs for the period
July 1-
31
the first six months of the current fiscal year, as compi
with those of the $acr±Hi corresponding period of the
m
rnm
4
the following
1935 fiscal year, are shown in.statisties made public
—
W
W » »- .
I
today:
Talus
fhuntx
thi
srs*
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Tuesday, February 4t 1936,_______
2-3-36.
Press Service
g-79
Marked increases in transactions of the Bureau of Customs for the period July
A
31, 1^35, the first six months of the current fiscal year, as compared
|With those of the corresponding period of the 1935 fiscal year, are shown in the
following statistics made public today:
CUSTOMS TRANSACTIONS
Eirst Six Months of the Fiscal Years 1935 and 1936
Transactions
First Six
Months
------- 1935
-i
lumber of entries
Free consumption entries
Dutiable consumption entries
Warehouse and rewarehouse
entries
Mail, baggage and other entries
Total entries
falue of imports
Per- Cent
of
Increase
First Six
Months
1936 .
78,926
138,841
90,598
162,209
14.8
16.8
27,693
977,066
1,222,526
33,580
1,083.087
1,379,474
21.0
10.9
12.8
$791,212,000 Jl#053,238,000
33.1
'
dumber of vessels entering the
United States direct from
foreign ports
16,166
16,955
4.9
Number of automobiles entering
the United States
5,209,341
5,603,775
7.6
23,224,799
24,904,741
7,2
$170,683,617
946,372
$189,358,705
1,045,687
10.9
10.5
9,993,876
$181,623,865
9.404,525
$199,808,917
1,412,369
1,556,044
Persons entering the United States
Collections by Customs Officers
Duties
Other Customs collections
Collections for other
Governmental agencies
Total collections
(
I
-
5.9
10.0
[
¡¡lumber of export declarations
iPalue of exports
ilOTE:
$1,108.819,000 $1.245.970.000
Minus sign (-) indicates decrease.
10.2
i
!
12.4
IMPOSTS OP DISTILLED LIOfORS AS* TIMES AMD DOTIES COLLECTED TEE&E08
Dooosfeor, I934 , 1335 # and Calendar Yoar* 1934 «ml 1935
§ £«#o«ber * 8©veaber * Beeenber * .. .Calendar Year
1334 _ ......» 5 5
.1335.— 1
1 ------» 1 4
»35
DISTILLED U 090&S (Proof H U m i ):
Stook in C»#t#e* I«sd*d wareLouses at beginning
Total laporte (fro* aad Satiable)
Available for Ce*sa»ptiea
Entered into Conouapiioo (a)
Export*4 fro» Casteas Custody
Stook in Caste»» Beaded faro*
boa»«» at end
3»44*,479
1,144,666
to533.133
7»3,«4J
14»*74
4 , 054 , 4*1
4 , 202,960
1.433,«0*
5,550,*4$
1,240 ,«90
*6,455
7»$l**45S
ll#itl>HS
7,042,J08
904,63*
438.175
»«*353.55*
11.537,729
7#*33,506
* 1,269
3,844,33*
4,282,960
4,233,87*
4 , 202,966
1,4*5,117
373 , 4«
*,734»3*3
314,*73
1,702.065
3*4, M3
2,144,35*
to i,s?3
dd7
1 , 766,500
495,066
2 ,j4 » ^ 5 4
4,130,244
*#493,5*3
34.537
4,025,25*
1,608,118
l,4SO#6d0
1 , 744,344
l,6e§,110
2.744.580
274 , 3 «*
2 * 4,432
37#«7*
3«0#«3*
i M H
« .» 2
d*,l93
S»«,Wi
33.557
360
351,777
53,3«*
405,357
7 7 ,4 »
Eft
2*M%*
5*9,040
*77.*»7
10 , 7*4
95,222
* 7**837
724,855
335,412
4,935
*33. « 5
m *3 4 «
3*5.71*
*33.0*3
3*5,71«
DUTIES COLLECTED OS Dtottllod Liquor#
Still fine#
Sparkling wines
69*3*4,402
» S ,*0 7 ,« 3
$35.15*
235,204
»«, 031,043
581,7«1
«75,450
137,454,448
9.109.344
1,643,448
635.313,653
4,320,0*9
*,354,977
Total Duties Colloft od ea Liquor«
Ya.i»i^0»tiv# Ceil*#ted
64, 200,702
l*»03*,<*0 »7,008,480
63*.59<»05*
641,994.7*5
■ :*
T ft,*57,713
244,148,437
STILL m s s (liquid fallene)t
Stook la taste«# Beaded faro*
houses at ^»gi«lag
total laporto (Pro# aad Dutiable)
Available for Censuaptlen
Sator«4 tato foasaapttoa (a)
Experted froa Cu,terse Custody
Stook la Casts»» 8oe4o4 TortLotto#• at oat
SPA0KLXS0 fives (liquid Callone):
Stook la Cu.teas Beaded farokottooo at Hglnaltg
Total I»ports (Pros aa4 BotlaUi)
Available for Cenou»ptie»
Entered tato ?or.sumption (a)
Exported froa Cottons Custody
Stook la castoao Soadod Varohouses at end
»Aidiilc»^
/
O’
*/
a
8a t t 00 j6 j0l& M t«| * m
i M l i i on L lq u ere
U)
1,070,641
♦»9d5»W
«33,317
3#«4*
{/
4 , 273**74
1,480,660
*n,tn
W 7 * (» J
i#)M
24,712,£ 7 « 27,144,72«
U«#
iBBiodiag wltfedr*»al# for «hip .applies «»4 dtplmtie sit.
PREPARED BY
DIVISION OF STATISTICS AND R
E
S
E
A
R
C
H
BUREAU OF CUSTOMS
TREASURY DEPARTMENT
209 * 9»
|
7®§®fc&a*£58&j
5**61,190
3,442,704
3i,«3*
.Ions o f s t i l l wines -beiiig’ im ported in 1 9 3 5 , as compared w ith
'
JS\
**: iI
^r
J3,4 6 2 ,7 0 4 g a llo n s during 1 9 3 4 ; w hile s p a rk lin g wines d e c lin e d i
I
\
X !
îr
jfrom 3 9 ^ ,4 1 2 g a llo n s in 1 9 3 4 to 2 7 7 ,2 8 7 g a llo n s dupfhg th e pas^
J
:r
I y ear.
i
✓
D u ties c o l l e c t e d on im p orts o f d i s t i l l e d liq u o r s and wines
S
Jr
s. .
I ag g reg ated f 3 8 , 596^852 during th e pas« y e a r a s compared w ith
[
x
§
o f t h i s d e c re a s e was due to*1
!
(
\
I
I
I
I
I
-
Jr
1 4 1 ,9 9 4 ,7 2 5 during th e -preceding / e a r .
A c o n s id e ra b le p o rtio n
11
y
X
|
i
f. \
p ostponing o f im p o rta tio n s o f
whiskey during December,
ordercbo ta k e advantage o f th e lo w er!f
/
\
!/
r a t e s o f duty a f t e r J a ^ a r y 1 . In cOhfequence, th e d u tie s on
/
liq u o r s and wines d a tin g th e month o f December ag g reg ated only
I
j
f
# 4 ,2 0 0 ,7 8 2 , as compared w ith # 7 ,0 0 8 ,4 8 0 c o l l e c t e d in d u tie s on
/
•'H_
i
liq u o r s and wines during December, 1 9 3 4 .
f
I
Of ttyê t o t a l d u tie s c o l l e c t e d during th e ca le n d a r y e a r
!
\X
C
I ( # 3 6 3 ,^ 0 ,5 7 1 ) on ly 1 0 .6 p er c e n t c o n s titu te d d u tie s on im porte^ 1
liq u o r s and w in es.
T h is compares With 1 3 .6 p e r c e n t of th e t o t à l
■
c ô l l e c ted.^dr^ l i ^ a 9 3 4 ^ t # 3 0 8 T ï l 3 ,362 ) .
...
The fo llo w in g t a b l e p r e s e n ts a d e ta ile d statem en t o f im ports
o f d i s t i l l e d liq u o r s and wines and d u tie s c o l l e c t e d th e re o n :
(2 )
L
~ %
Im ports o f d i s t i l l e d liq u o r s f o r th e c a le n d a r y e a r 1935
a g g reg ated 7 ,0 6 2 ,9 0 8 g a llo n s as compared w ith 7 ,2 3 3 ,5 0 6 g a llo n s
during th e p reced in g ca le n d a r y e a r , i t was announced by th e Bureau
of Customs to d ay .
The d e cre a se during' tiHr *pggfr*y e « ^ w a s due e n t i r e l y t o tfcfe»
Jk
sm a lle r amount imported* du rin g th e month of December (6 9 9 ,3 1 7
g a l l o n s ) , a s compared w ith December, 1 9 3 4 , ( 1 ,2 4 0 ,8 3 0 g a llo n s )^
T h is dtrgfciiw ■waw
announcement during th e l a t t e r p a r t
o f November, 1 9 3 5 , o f th e re d u c tio n in r a t e s o f duty on most
ty p e s o f whiskey under th e term s o f th e Canadian Reel-pro c i t y
Trade Agreem ent, which became e f f e c t i v e Jan u ary 1 , 1 9 3 6 . “’THprrb*
p o s s ib le the u si^ o f im ported whiskey u n t i l ,t h e new r a t e s became
D esp ite th e d e c lin e in th e t o t a l number o f g a llo n s of d i s
t i l l e d liq u o r s im p orted, im p orts of whiskey during the p a s t c a le n
d ar y e a r exceeded th o se o f th e p reced in g y e a r , a g g re g a tin g
5 ,8 4 7 ,2 9 8 g a llo n s in 1 9 3 5 , a s compared w ith 5 ,6 2 4 ,4 8 3 g a llo n s in
1934.
im p orts o f a n o t h e r ty p e s o f d i s t i l l e d H q u o rs^ d eclin ed
/M u c h s m a lle r q u a n ti ti e s
wines and
s p a r k lin g
wines
fere im ported during/>l#3o th an during th e p reced in g y e a r , 2 ,4 9 3 ,5 2 9
(l)
OFFICE OF THE COMMISSIONER OF CUSTOMS
JAN 3!
TO MR. GASTON
FROM THE COMMISSIONER OF CUSTOMS:
(Through A s s is ta n t S e c r e ta r y Gibbons)
There i s tra n s m itte d h erew ith a statem en t showing d a ta
re g a rd in g im p orts of d i s t i l l e d liq u o r s and wines during th e
ca le n d a r y e a r 1 9 3 5 , a s compared w ith th e ca le n d a r y e a r 1 9 3 4 ,
which may be s u ita b le f o r use as a T reasu ry p re s s r e l e a s e .
I n c lo s u r e .
S ta
treasury department
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Ta.esday. February 4, 1936,
, .
2-3-36.
.
Press Service
No* 6~80
Imports of distilled liquors for the calendar year 1935 aggregated 7,062*908
gallons as compared with 7,233,506 gallons during the preceding calendar year, it
was announced by the Bureau uf Customs today»
The decrease was due entirely to smaller imports during the month of December
(699,317 gallons), as compared with December, 1934, (1,240,830 gallons), following
announcement during the latter part of November,, 1935, of the reduction m
rates
of duty on most types of whiskey under the terms of the Canadian Trade Agreement,
which became effective January 1, 1936,
Despite the decline in the total number of gallons of distilled liquors
imported, imports of whiskey during the past calendar year exceeded those of the
preceding year, aggregating 5,847,298 gallons in ;935, as compared with 5,624,483
gallons in 1934.
Imports of other types of distilled liquors and of wines declined.
The" following table presents a detailed statement of imports of distilled
liouors and wines and duties collected thereon?
imposts of distilled liquors a n d wines a n d
duties
collected thereon
______December, 1934, 1935, and Calendar Years 1934 and 1935
: December
November
December
Calendar Year
!
1935
1935
1934
1935
1934
distilled li q u o r s
t
(Proof Gallons)?
:
Stock in Customs
:
Bonded Warehouses sat beginning .....£3,864,394
3,448,473,
4,056,641
4,282,960
638,175
Total Imports (Free i
1,144,666
and dutiable) ....,¡1,078,641
1,493,604
7,318,452
10,959,554
Available for Con- :
4,593,139
11,597,729
sumption
*4,943*035
5,550,245 11,601,412
Ent&ffed-’ into Con- i
713,869 : 1,240,830
sumption (a)
’? 699,317
7,233,506
7,062,908
Exported from
:
14,876
304,630
Customs Custody
'1
9,844
26,455
81,263
Stock in Customs
j
Bonded Warehouses £
4,282-960
at end
¡4,233,874
3;864,394
4,282,960
4,233,874
STILL WINES
(Liquid Gallons);
:
Stock in Customs
;
Bonded Warehouses :
at beginning »a..o¡1,480,660
1,425,117
1,782,065
1,766,588
435,880
Total Imports (Free *
and dut iable)
497,673
373,406
386,889
.4,825,250
2,369,656
Available for Con- :
sumption...... .1,978,333
1,798,523
2,168,9 54
,5,251,130
4,136,244
Entered into Con—
:
sumption (a)
* 368,827
316,479
401,899
>2,493,529
3,462,704
Exported from
:
Customs Custody , 1 , 3 8 8
1,384
467
31,838
34,597
Stock in.Customs
:
Bonded Warehouses :
at e n d * . *£1,608,118
1,480,660
1,766,538
1,766,588
1,608,118
SPARKLING WINES
*
(Liquid Gallons):
*
Stock in Customs , •
Bonded Warehouses *
at beginning •••••* 270,960
248,692
351,793
325,712
95,222
Total Imports (Free *
. and dutiable) **>*.*:
37,871
53,564
62,193
630,837
203,328
Available for Con— 1
sumption
'} 308,831 '
405,357
310,885 •
529,040
726,059
Entered into Conj
.r
sumption (a)
:
69,604
39,557
79,451 ,
277,287
395,412
Exported from Customs
Custody
6,198
368
194
18,724
4,935
Stock in Customs
:
Bonded Warehouses £
at e n d ........ .
233,029
270,960
325,712 p*
233,029
325,712
DUTIES COLLECTED ON Distilled Liquors...:$3,324,482 :$3,407,663 : $6,031,069:$33,850,060 $35,319,659
Still Wines •*,.....:
459,936 :
395,151 2
501,761: 3,103,344
4,320,089
Sparkling Wines '.£
416,364 :
235,806 :
475,650: 1,643,448
2,354,977
Total Duties Col:
:
•
lected on L i q u o r s ¿$4,200,782 :$4,038,620 : $7,008,480:$38,596,852 $41,994,725
la) Including withdrawals for ship supplies and diplomatic use*
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, HORNING NEWSPAPERS,
Tuesday« February 4» 1988»
2/3/36
Press Service
t -
ti
Secretary ©f the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts, of
273-day Treasury bills, dated February 5, 1936, and maturing
November 4, 1936, which were offered on January 31, were
opened at the Federal Reserve banks on February 3#
The total amount applied for was $192,133,000, of
which $50,296,000 was accepted* The accepted bids ranged in
price from 99*932, equivalent to & rate of about 0*090 per
cent per annum, to 99*928, equivalent to a rate of about
0*095 percent per annum, on a bank discount basis, but largely
at the latter price, only a part of which was accepted* The
average price of Treasury bills to be issued is 99*928 and
the average rate is about 0^095 percent per annum on a bank
discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, February 4, 1936._____
2/3/36
Press Service
* 6~8^
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury "bills, dated
February 5, 1936, and maturing November 4, 1936, which were offered on
January 31, were opened at the Federal Reserve banks on February 3.
The total amount applied for was $192,133,000, of which $50,296,000 was
accepted.
The accepted bids ranged in price from 99.932, equivalent to a rate
of about 0.090 percent per annum, to 99.928, equivalent to a rate of about 0.095
percent per annum, on a ‘bank:discount basis, but largely at the latter price,
only a part of which was accepted.
The average price of Treasury bills to be
issued is 99.928 and the average rate is about 0.095 percent per annum on a bank
discount basis.
-ooOoo-
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
__________________ JANUARY 1936________________________
Re oeiverships s
First
First
First
First
First
First
First
First
1/Mount
First
National
National
National
National
National
Bank»
Bank,
Bank,
Bank,
Bank,
Ennis* Texas
Brantley, Alabama
Coffee Springs, Ala*
Bixby, Oklahoma
Merrill, Iowa
Date of
Failure;
2*11-30
2-17-30
3-13-30
2 -20-29
9-18-31
National Bank, Ivanhoe, Minnesota
4— 9-31
National Bank, Stanford, Montana
12-2-31
National Bank, La Pine, Ala*
3-3-31
Vernon Nat*l Bank & Tr* Co*, Mount Vernon, Ind* 1-30-34
National Bank in, Kerman, California
7-2-32
Total
Disbursements
including
Offsets Allowedt
$
Per Cent
Total
Returns
to all
Creditors;
Per Cent
Dividends
Paid
Ufcsecured
404,625
79 .9 6
77.743
108,033
47*808
101,079
156,229
73*97
91.27
55.34
85.18
7 2 .2
15 6 ,75 4
6 7.79
103,836
50,424
126,896
197.013
101*99
6 7 .7 5
82.81
79.85
6 9 .3 7
7 6 .7 6
66.37
49.47
105.23
48*1
24.539
59.55
1/ Receiver appointment to levy and collect stock assessment; covering deficiency
in value of assets sold, or to complete unfinished liquidation*
-3-
The Mount Vernon National Bank & Trust Company of Mount Vernon, Indiana,
in receivership January 30, 1934, the liabilities of the institution having
theretofore been assumed by another bank.
The Receiver was appointed for the
purpose of collecting an assessment against the stockholders to cover a
deficiency in the assets sold.
Disbursements during receivership, including
offsets allowed, aggregated $126,896 which represented 82.81 per cent of total
liabilities.
The First National Bank in Kerman, California, in receivership July 2,
1932; disbursements, including offsets allowed, to depositors and other cred
itors aggregated $197,013, which represented 79*85 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 59*55 per cent
of their claims.
Dividend payments during January 1936 by all receivers of insolvent
national banks to the creditors of all active receiverships aggregated
$3,524,528.
Dividend payments to the creditors of all active receiverships from
October 31, 1934, the date of the Comptroller’s last Annual Report to
Congress, to January 31, 1936, aggregated $143,661,897.
-
2-
The First National Bank of Bixby, Oklahoma, in receivership February 20,
1929$ disbursements, including offsets allowed, to depositors and other cred
itors aggregated $101,079, which represented 55.34 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 76.76 per cent
of their claims.
The First National Bank of Merrill, Iowa, in receivership September 18,
1931; disbursements, including offsets allowed, to depositors and other cred
itors aggregated $156,229, which represented 72.2 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 66.37 per cent
of their claims.
The First National Bank of Ivanhoe, Minnesota, in receivership April 9,
1931; disbursements, including offsets allowed, to depositors and other cred
itors aggregated $156,734, which represented 67.79 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 49*47 per cent
of their claims.
The First National Bank of Stanford, Montana, in receivership December 2,
1931; disbursements, including offsets allowed, to depositors and other cred
itors aggregated $103,836, which represented 101.99 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 100 per cent of
their claims and an additional interest dividend amounting to 5.23 per cent.
The First National Bank of LaPine, Alabama, in receivership March 3,
1931; disbursements, including offsets allowed, to depositors and other cred
itors aggregated $ 50,424, which represented 67.75 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 43.1 per cent
of their claims.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
The Comptroller of the Currency, J.F.T. 0 fConnor, today announced the com
pletion of the liquidation of 10 receiverships during January, 1936, making a
total of 197 receiverships finally closed or restored to solvency since his last
Annual Report to Congress dated October 31, 1934»
Total disbursements, includin
offsets allowed, to depositors and other creditors of these 197 institutions,
exclusive of the 12 receiverships restored to solvency, aggregated $4-9,600,974,
or an average return of 72.92 per cent of total liabilities, while unsecured de
positors received dividends amounting to an average of 60.^7 per cent of their
claims.
The First National Bank of Ennis, Texas, in receivership February 11,
1930; disbursements, including offsets allowed, to depositors and other cred
itors aggregated $4-04-,625, which represented 79.96 per cent of total liabili
ties.
Unsecured depositors received dividends amounting to 77.74-3 per cent of
their claims.
The First National Bank of Brantley, Alabama, in receivership February 17,
1930; disbursements, including offsets allowed, to depositors and other cred
itors aggregated $108,033, which represented 73*97 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 69*37 per cent of
their claims.
The First National Bank of Coffee Springs, Alabama, in receivership March
13, 1930; disbursements, including offsets allowed, to depositors and other
creditors aggregated $4.7,808, which represented 91.27 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 85 .IS per cent of
their claims.
TREASURY DEPARTMENT
Washington
P01 RELEASE, MORNING NEWSPAPERS,
Thursday, February 6, 1936«_____
2-4-36.
Press Service
N°* 6-82
The Comptroller of the Currency, J.E.T. O ’Connor, today announced the com
pletion of the liquidation of 10 receiverships during January, 1936, making a
total of 197 receiverships finally closed or restored to solvency since his last
Annual Report To Congress dated October 31, 1934.
Total disbursements, including
offsets allowed, to depositors and other creditors of these 197 institutions,
exclusive of the 12 receiverships restored to solvency, aggregated $49,600,974,
or an average return of 72*92 per cent of total liabilities, while unsecured de
positors received dividends amounting to an average of 60.47 per cent of their
claims.
The First National Bank of Ennis, Texas, in receivership February 11, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $404,625, which represented 79*96 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 77.743 per cent of their claims.
The First National Bank of Brantley, Alabama, in receivership February 17,
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $108,033, which represented 73.97 per cent of total liabilities.
Unsecured depositors received dividends amounting to 69,37 percent of their claims.
The First National Bank of Coffee Springs, Alabama, in receivership March 13,
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $47,808, which represented 91.27 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 85.18 per cent of their claims.
The First National Bank of Bixby, Oklahoma, in receivership February 20,1929;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $101,079, which represented 55.34 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 76.76 per cent of their claims.
The First National Bank of Merrill, Iowa, in receivership September 18, 1931;
disbursements, including offsets allowed, to depositors end other creditors aggre
gated $156,229, which represented 72,2 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 66.37 per cent of their claims.
The First National Bank of Ivanhoe, Minnesota,, in receivership April 9, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $156,734, which represented 67.79 per cent of total liabilities. Unsecured
depositors received dividends amounting to 49.47 per cent of their claims.
The First National Bank of Stanford, Montana,, in receivership December 2, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $103,836,which represented 101.99 per cent of total liabilites.
Unsecured
depositors received dividends amounting to 100 per cent of their claims and an
additional interest dividend amounting to 5.23 per cent.
The First National Bank of LaPine, Alabama, in receivership March 3, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $50,424, which represented 67.75 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 48.1 per cent of their claims.
The Mount Vernon National Bank
& Trust
Co. of Mount Vernon, Indiana, in
receivership January 30, 1934, the liabilities of the institution having thereto
fore been assumed by another bank.
The Receiver was appointed for the purpose
of collecting an assessment against the stockholders to cover a deficiency in the
assets sold.
Disbursements during receivership, including offsets allowed,
aggregated $126,896 which represented 82.81 per cent of total liabilities.
The First National Bank in Kerman, California, in receivership July 2, 1932;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $197,013, #iich represented 79.85 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 59.55 per cent of their claims.
Dividend payments daring January 1936 by all receivers of insolvent na.tiona.1
banks to the creditors of all active receiverships aggregated $3,524,528.
Dividend payments to the creditors of all active receiverships from October
31, 1934, the date of the Comptrollers last .Annual Deport to Congress, to
January 31, 1936, aggregated $148,661,897.
INSOLVENT NATIONAL BüjSBSâ LIQUIDATED AND Ell:ALLY CLOSED
CR RESTORED TO SOLVENCY DURING- TSE MONTH OP
____________________JANUARY 1936_______
Date of
Failure :
Receiverships :
g
:
m
First
Fir st
First
ir st
ir-s t
First
Fir st
Fir s'G
lf\Mount
Fir st
National
National
National
Nat ional
National
Bank,
Bank,
Bank,
Bank,
Bank,.
Ennis, Texas
Brantley, Alabama
Coffee Borings, Ala.
Bixby, Oklahoma
Merrill, Iowa
National Bank, Ivanhoe, Minnesota
National Bank, Stanford, Montana
National Bank, La Pine, Ala.
Vernon Nat’l. Bank & Tr. Co., Mount Vernon,
National Bank in, Kerman, California
ij Receiver
2-H-3O
2 -1 7 - 3 0
3 -1 3 - 3 0
2-20-29
9-18-31
U-.-9-31
12— 2-31
3— 3-31
i.1-3 0 - 3 4
7- 2 - 3 2
Total
Di sbur semen ts
including
Offsets Allowed:
$
Per Cent
Total
Returns
to all
Creditors:
4 o4 ,625
108,033
47,808
101,079
156,229
79.96
73.97
91.27
156,734
103,83b
67-79
101.99
50,424
67.75
126,896
1 9 7 ,0Î3
82.81
7 9 .S5
55.34
72.2
Per Ceu
Dividerli
Paid
Unsecur<
Deposit'
77.743
69.37
85.13
76.76
66.37
49.47
105.23
4 8 .1
24.539
59.55
appointment to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation.
\
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Saturday, February 8» 1936»
Press Service
2/7/86
Secretary of the Treasury Morgenthan announced last
evening that the tenders for $50,000,000, or thereabouts,
of 278-day Treasury bills, dated February 11, 1986, and
maturing November 10, 1986, which were offered on February
5, were opened at the Federal Reserve banks on February 7#
The total amount applied for was $184,659,000, of
which $50,545,000 was accepted* Hie accepted bids ranged
in price from 99*986, equivalent to a rate of about 0*084
percent per annum, to 99*988, equivalent to a rate of
about 0*088 percent per annum, on a bank discount basis*
Only part of the amount bid for at the latter price was
accepted* The average price of Treasury bills to be
issued is 99*984 and the average rate is about 0*087 per
cent per annum on a bank discount basis*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
S8turday, February 8, 1936._____
2-7-36.
Press Service
No,* 6-83
Secretary of the Treasury Morgenthsu announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury hills, da.ted
February 11, 1936, and maturing November 10, 1936, which were offered on
February 5, were opened at the Federal Reserve banks on February 7*
The total amount applied for was $184,659,000, of which $50,545,000 was accepted.
The accepted bids ranged in price from 99.936, equivalent to a
rate of about 0.084 percent per annum, to 99.933, equivalent to a. rate of
about 0.088 percent per annum, on a, bank discount basis.
Only part of the
amount bid for at the latter price was accepted. The average price of Treasury
bills to be issued is 99.934 amd the average rate is about 0.087 percent per
annum on a bank discount basis..
4 9 YEARS OF
SE R V IC E
1886-1935
STOCKETTFISKE “ CO.
I N C O t t
P
O R A T E D
PRODUCING STATIONERS
919-E'STNV-
WASHINGTONDC
MEMORANDA
PHONES
NA. 9 1 7 6 - 7 - 8
Ü
1/
tyvUL
%1A}
¡rfb^d
~ 2 $2 ,595,121,000 in the twelve month period.
Loans and discounts, including rediscounts, totaled $7,505>321,000, and
showed increases of $203,950,000 and $16,669,000 in the two and twelve month
periods, respectively.
Investments in United States Government obligations direct and fully
guaranteed amounted to $7,812,112,000, in comparison with $7»493,596,000 on
November 1, 1935, and $6,960,208,000 on December 31, 1934.
Investments in
such obligations reported for the current call comprise direct obligations
of the United States of $6,554,770,000, obligations of the Reconstruction
finance Corporation of $183,478,000, federal farm Mortgage Corporation bonds
of $319,116,000 and Home Owners’ Loan Corporation bonds guaranteed as to
both interest and principal of $754,748,000.
Other bonds and securities held
amounted to $3,665,424,000, a decrease of $19,35l*,000 since November 1 , but
an increase of $169,700,000 in the year.
Balances with other banks and cash items in process of collection of
$7>658,5^1,000, which include reserve with federal reserve banks of
$3>^36,909,000, were $196,870,000 more than on November 1, 1935» and
$1 ,62^,317,000 more than on December 31, 193** •
cash in vault of
$493,639,000 increased in the two and twelve month periods $89,460,000 and
$37,373,000, respectively.
Book value of capital stock of the active
fp# banks as of
December 31, 1935, aggregated $1,758,^50,000, representing a par value of
$1,765,738,000.
The latter figure was composed of Class A preferred stock
of $487,683,000, Class B preferred stock of $21,021,000, and common stock of
$1,257,034,000.
Surplus funds of $887,934,000, undivided profits of
$302,395,000, reserves for contingencies of $151,381,000, and preferred stock
retirement fund of $5 ,001,000, a total of $1,346,711,000, decreased
$6,642,000 since November 1, but increased $103,132,000 in the year.
Bills payable of $2,233,000 and rediscounts of $769,000, a total of
$ 3,002,000, showed decreases in the two and twelve month periods of
$ 2 ,005,000 and $4,723,000, respectively.
The percentage of loans and discounts to total deposits on December 3*>
1935, was 30.21, in comparison with 30 .3S on November 1, 1935» and 3^*55 on
December 31» 193** *
00O00
TREASURY DEPARTMENT
Washington
Pr----- vice
Comptroller of the Currency J. p. T. 0*Connor announced today that the
deposits of the 5>392 active national hanks in the continental United States,
Alaska, Hawaii and the Virgin Islands of the United States, on December 31,
1935, the date of the last call made for statements of condition, aggregated
$2^, 8^7,733,000, which was the largest amount ever reported in the history
of the Rational Banking System, exceeding by $500,353,000, or 2.06 per cent,
the amount reported as of December 31? 1928, the date of the previous high
record when there were 7 >635 ac^ b a n k s .
Comparing the recent figures with
those of the ^,902 licensed national banks as of June 30, 1933> the date of
the first call following the banking holiday, the deposits on December 31>
1935, showed an increase of $ 8,073>6lS,000, or ^ 8.13 per cent, in the two
and one-half years.
Deposits for the current call showed an increase of $81^,1+97>000, or
3.39 per cent, over the amount reported by 5>^°9 banks on November 1, 1935>
the date of the previous call, and an increase of $3 >171>^30,000, or lU .63 Ver
cent, over the amount reported by 5 > ^ 7 active banks as of December 31> 193^>
the date of the corresponding call a year ago.
The aggregate on December 31
comprised demand deposits of individuals, partnerships, and corporations of
$10,911,717,000, time deposits of individuals, partnerships, and corporations
of $ 6,816,676,000, United States Government deposits of $585,289,000, State,
county, and municipal deposits of $1 ,979,<*0 ,000, postal savings deposits of
$187,39*,000 and deposits of other -banks, including certified and cashiers'
checks outstanding, of $*,367,617,000.
The time deposits of individuals,
partnerships, and corporations included time certificates of deposit of
$ 6**,178,000 and deposits evidenced by savings pass books of $5,906,035,000,
the latter amount representing 1*,71*,502 accounts.
Postal savings in national
banks on December 31, 1935, showed a decrease of $6,305,000, or 3.26 per cent,
since November 1 , 1935, and a decrease of $163,292,000, or * 6.56 per cent, in
the year.
The total assets on December 31, 1935, amounted to $28,22*,701,000, which
was an increase of $793,971,000 since November 1 and an increase of
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday. February 19, 1936.
2-14-36.
Press Service
No. 6-84
Comptroller of the Currency* J.P.T. O'Connor announced today that the
deposits of the 5,392 active national hanks in the continental United States,
Alaska, Hawaii and the Virgin Islands of the United States, on December 31, 1935,
the date of the last call made for statements of condition, aggregated
$24,847,733,000, which was the largest amount ever reported in the history of the
National Banking System, exceeding by $500,353,000, or 2.06 per cent, the amount
reported as of December 31, 1928, the date of the previous high record when there
were 7,635 active banks.
Comparing the recent figures with those of the 4,902
licensed national banks as of June 30, 1933, the date of the first call following
the banking holiday, the deposits on December 31, 1935, showed an increase of
$8,073,618,000, or 48.13 per cent, in the two and one-half years.
Deposits for the current call showed an increase of $814,497,000, f>r 3.39
per cent, over the amount reported by 5,409 banks on November 1, 1935, the date
of the previous call, and an increase of $3,171,430,000, or 14 .63 per cent,
over the amount reported by 5,467 active banks as of December 31, 1934, the date
of the corresponding call a year ago.
The aggregate on December 31 comprised
demand deposits of individuals, partnerships, and corporations of $10,911,717,000,
time deposits of individuals, partnerships, and corporations of $6,816,676,000,
United States Government deposits of $585,289,000, State, county, and municipal
deposits of $1,979,040,000, postal savings deposits of $187,394,000 and deposits
of other banks, including certified and cashiers* checks outstanding, of
$4,367,617,000.
The time deposits of individuals, partnerships, and corporations
included time certificates of d.eposit of $644,178,000 and deposits evidenced by
savings pass books of $5,906,035,000, the latter amount representing 14,714,502
accounts.
Postal savings in national banks on December 31, 1935, showed a
decrease of $6,305,000, or 3,26 per cent, since November 1, 1935, and a decrease
of $163,292,000, or 46.56 per cent, in the year.
2
The total assets on December 31, 1935, amounted to $28,224,701,000, which
was an increase of $793,971,000 since November 1 and an increase of $2,595,121,000
in the twelve month period.
Loans and discounts, including rediscounts, totaled $7,505,321,000, and
showed increases of $203,950,000 and $16,669,000 in the two and twelve month
periods, respectively.
Investments in United States Government obligations direct and fully guaranteed amounted to $7,812,112,000, in comparison with $7,493,596,000 on November 1,
1935, and $6,960,208,000 on December 31, 1934.
Investments iv such obligations
reported for the current call comprise direct obligations of the United States
of $6,554,770,000, obligations of the Reconstruction Finance Corporation of
$183,478,000, Federal Farm Mortgage Corporation bonds of $319,116,000 -and Home
Owners’ Loan Corporation bonds guaranteed as to both interest and principal of
$754,748,000.
Other bonds and securities held amounted to $3,665,424,000, a
decrease of $19,354,000 since November 1, but an increase of $169,700,000 in the
year.
Balances with other banks and cash items in process of collection of
$7,658,541,000, which include reserve with Federal reserve banks of
$3,436,909,000, were $196,870,000 more than on November 1, 1935, "nr
$1,624,317,000 more than on December 31, 1934.
The cash in vault of $493,839,000
increased in the two and twelve month periods $89,460,000 and $37,373,000,
respectively.
Book value of capital stock of the active banks as of December 31, 1935,
aggregated $1,758,450,000, representing a par value of $1,765,738,000.
The
latter figure was composed of Class A preferred stock of $487,683,000, Class B
Referred stock of $21,021,000, and common stock of $1,257,034,000.
Surplus
funds of $887,934,000, undivided profits of $302,395,000, reserves for con
tingencies of $151,381,000, and preferred stock retirement fund of $5,001,000
a total of $1,346,711,000, decreased $6,642,000 since November 1, but increased
3
$103,132,000 in the year*
Bills payable of $2,233,000 and rediscounts of $769,000, a total of
$3,002,000, showed decreases in the two and twelve month periods of $2,005,000
and $4,723*000, respectively.
The percentage of loans and discounts to total deposits on December 31,
1935, was 30*21, in comparison with 30.33 on November 1, 1935, and 34*55 on
December 31, 1934.
ooOoo
TREASURY DEPARTHEHT
Washington
MEMORAHDUM FOR THE PRESS
February 10, 1936
RECEIPTS OP SILVER BY THE MIHTS AMD ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended February 7, 1936:
Philadelphia.....................................
San Francisco..... ...............................
Denver......................................... . *
Total for week ended February 7, 1936..... .........
Total receipts through February 7, 1936............
713,064.29 fine ounces
217,637.20
"
,f
15.205.22
"
w
945,906.71
’’ n
64,313,367.76
tt n
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended February 7, 1936:
Philadelphia ...................... ............**
Hew York.................. i....... ..............
San Francisco. ...................................
Denver ............... ....... ..................
Hew Orleans............ . •....................
Seattle..................... .... -............. . - *
.Total for week ended February 7, 1936----- -----Total receipts through February 7, 1936........
5.302.00 fine ounces
2,413.37
#
f
1.148.00 ”
H
1,342.92
”
”
339.39
H
"
10,545.68
112,403,621.59
RECEIPTS OF GOLD BY THE MIHTS AHD ASSAY OFFICES:
Secondary
Week ended February 7, 1936:
Imports ...
$133,682.76
Philadelphia....................... $ 15,317,09
68,500,00
Hew York ........................... 702,700.00
39,717.66
San Francisco....................... 208,195,40
39,763,20
Denver......... . ...................* 57,846.18
42,571.86
Hew Orleans.........
8,475,98
10.169.30
Seattle............................. . ..
--- Total for week ended February 7, 1936..$992,534.65 $334,404.78
n
*
11
11
Hew
Domestic
I
6,301,75
98,500.00
1,062,049.90
536,926.23
145.89
195.044.35
$1,898,968.12
COLD RECEIVED BY FEDERAL RESERVE B A M S AHD THE TREASURER*S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Gold bars deposited with the Hew York Assay Office
in the amount of $200,572.69 previously reported.
$
2, 600,.00
2 .379, Q00,.00
2
o
¡o
o
o
«n
HOTE:
$
1—1
00
CO
Received by Treasurer’s Office:
Week ended February 5.
~
~
Received previously............ ..... 267.056.00,
Total toFebruary 5 ...... ...... $ 267,056.00
Gold Certificates
256, 830.,00
$
102 ,978, 250,,00
$103 ,235, 080,
o
o
Received by Federal Reserve Banks: ____G-old Coin_
Week ended February 5.......... $
16,620.20
Received previously........... . 31,140.586.47
Total to February 5 ............ $31,157,206.67
I /ff
Û
TR EA SU R Y DEPARTM ENT
O F F IC E O F TH E SE C R E T A R Y
WASHINGTON
C O M M I S S IO N E R OP
A C C O U N T S AN D D E P O S I T S
F eb ru ary 1 3 , 1 9 3 6 ,
TO MR. GASTON:
During th e month of Ja n u a ry , 1 9 3 6 , th e fo llo w in g m arket
t r a n s a c t io n s to o k p la c e in Government s e c u r i t i e s f o r investm ent
a c c o u n ts :
T o ta l p u rch ases • . • .
T o ta l s a l e s
.................... #
Net p u rc h a s e s :
. $ 1 8 ,5 4 6 ,8 5 0
o
# 1 8 ,5 4 6 ,8 5 0
TREASURY DEPARTMENT
Washington
Press Service
No* 6-85
FOR IMMEDIATE RELEASE,
Monday, February 17, 1936,
Net market purchases of Government securities for Treasury investment account
for the calendar month of January, 1936, amounted to $18,546,850, Secretary
Morgenthau announced today*
ooOoo
TREASURY DEPARTMENT
Washington
February 17, 1936.
memorandum eor the press
RECEIPTS OF SILVER BY THE MINTS AMD ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended February 14, 1936:
Philadelphia,..... ........... ........ .
San Francisco ....... ...... .....................
Denver............................................
Total for week ended February 14, 1936....*........
Total receipts through February 14, 1936...........
800,185.00 fine ounces
It
724,971.66
»
rt
7,850.95
»
it
1,533,007.61
»
it
65,846,375.37
»
SILVER TRANSFERRED TO UNITED STATES;
(Under Executive Proclamation of August 9, 1934)
Week ended February 14, 1936:
Philadelphia..... ...................
New York..... ..... ....................
San Francisco........................
Denver...............................
New Orleans...... .................
Seattle.. .............................
Total for week ended February 14, 1936..
Total receipts through February 14, 1936
2.346.00 fine ounces
5,610.10
"
»
2.163.00
«
H
395.77
»
»
273.36
"
»
10,788.23
112,414,409.82
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended February 14, 1936:
Imports______ Secondary____ Domestic
Philadelphia....... .
$
6,529.15 $100,822.95$
334.08
New Y o r k ....... .
412,500.00 163,200.00
135,000.00
San Francisco........... ..
991,326.14
41,-398.64 1,770,585.80
Denver................ .
35,886.25
15,874.53
599,923.93
New Orleans......... ......
1,003.34
32,594.76
------ >U
Seattle............. ................
14,074.60
165,587.58
Total for week ended February 14, 1936.$1,447,244.88 $367,965.48 $2,669,431.39
SOLD RECEIVED BY FEDERAL RESERVE BANKS AND TEE TREASURER1S OFFICE:
(Under Secretary’s Order of December 28, 1933)
Gold Certificates
Received by Federal Reserve Banks:'
Gold Coin
$
325,680.00
Week ended February 12.........
$
15,925.72
103,255,080.00
Received previously............
31.157,206.67
$103,560,760.00
Total to February 12...........
$31,173,132,39
Received by Treasurer's Office:
Week ended February 12.... .
Received previously.........
Total to February 12.,.........
NOTE;
$
$
*- - - - ~
267,056.00
267,056.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
$
$
2,820.00
2,381,600.00
2,384,420.00
TREASURY DEPARTMENT
Washington
tfrtD E f t t f ASI> MORNING
n ew sp a p er s,
Press Service
February 18, 1986.
2/17/36
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts,
of 273-day Treasury bills, dated February 19, 1986, and
maturing November 18, 1986, which were offered on February
14, were opened at the Federal Reserve banks on February 17.
The total amount applied for was $148,482,000, of which
$50,100,000 was accepted. The accepted bids ranged in price
from 99.942, equivalent to a rate of about 0.076 percent per
.nningj to 99.989, equivalent to a rate of about 0.080 percent
per annum, on a bank discount basis. Only part of the amount
bid for at the latter price was accepted. The average price
of Treasury bills to be issued is 99.941 and the average rate
is about 0.078 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
Press Service
No. 6-86
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, February 18, 1936»_____
!2-17-36*
Secretary of the Treasury Morgenth.au announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury hills, dated February 19, 1936,
!and maturing November 18, 1936, which were offered on February 14, were opened at
the Federal Reserve banks on February 17.
The total amount applied for was $143,432,000, of which $50,100,000 was
accepted*
The accepted bids ranged in Price from 99.942, equivalent to a. rate
of about 0.076 percent per annum, to 99*939, equivalent to a rate of about 0.080
percent per annum, on a bank discount ba,sis.
the latter price was accepted.
Only part of the amount Did for a,t
The average price of Treasury bills to tae issued
is 99.941 and the average rate is about 0.078 percent per annum on a bank discount
basis.
ooOoo
Complaints have reached the Bureau to the effect that the
Collectors of Internal Revenue were refusing to grant extensions of time
for the filing of income tax returns and advice has been requested as
to whether or net the Bureau of Internal Revenue had issued mandatory
instructions to Collectors that requests for the extension of time
should be generally denied.
vi^it is not desired that Collectors take an extreme position and
deny taxpayers extension of time for filing returns in all cases. However,
during recent years there has been an ever increasing number of requests
filed for extensions of time for the filing of income tax returns. Hot
only has the number of taxpayers requesting this privilege increased but
the amount of time asked for has increased to a point where the orderly
handling of the returns has been impaired. Investigation has disclosed
that in many instances no substantial necessity existed for the extension
requested and granted.
fJ^Because of the abuse of this privilege it has become necessary to
require taxpayers to support their requests for extension of time with
evidence showing good cause for the delay.
iJ^As the authority to grant extensions of time for filing income
tax returns has been delegated to the Collectors of Internal Revenue, it
is necessary that the taxpayer address his request to the Collector for the
district in which he files his return. Instructions have been issued to
Collectors that the abuse of the extension privilege must be stopped and
that extensions should be granted only in those cases where sufficient
cause exists to justify the delay.
mere inconvenience to the taxpayer will not be considered
sufficient justification to warrant such an extension.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Wednesday, February 19. 1936.
2-18-36.
Press Service
No, 6-87
Guy T. Helvering, Commissioner of Internal Revenue, today issued the fallowing statement:
"Complaints have reached the Bureau to the effect that the Collectors
of Internal Revenue were refusing to grant extensions of time for the filing
of income tax returns and advice has been requested as to whether- the
Bureau of Internal Revenue had issued mandatory instructions to Collectors
that requests for the extension of time should be generally denied.
"It is not desired that Collectors take an extreme position and deny
taxpayers extension of time for filing returns in all cases. However,
during recent years there has been an ever increasing number of requests
filed for extensions of time for the filing of income tax returns. Not
only has the number of taxpayers requesting this privilege increased but
the amount of time asked for ha.s increased to a point where the orderly
handling of the returns has been impaired. Investigation ha.s disclosed
that in many instances no substantial necessity existed for the extension
requested and granted.
•
#"Because of the abuse of this privilege it has become necessary to
require taxpayers to support their requests for extension of time with
evidence showing good cause for the delay.
"As the authority to grant extensions of time for filing income
tax returns has been delegated to the Collectors of Internal Revenue, it
is necessary that the taxpayer address his request to the Collector for
the district in which he files his return. Instructions have been issued
o collectors that the abuse of the extension privilege must be stormed
rnd that^extensions should be granted only in those cases where sufficient
cause exists to justify the delay.
"A mere inconvenience to the taxpayer will not be considered sufficient
justification to warrant such an extension."
ooOoo
IMMEDIATE RELEASE
Wayne C h a tfie ld T ay lo r o f I l l i n o i s was in d u cted in to o f f i c e today as
A s s is ta n t S e c r e ta r y o f th e T re a s u ry , h i s nom ination hy th e P re s id e n t having
been confirmed
y e s te rd a y hy th e S e n a te .
S e c r e ta r y Morgenthau announced t h a t Mr. T ay lo r had been d e sig n a te d f i s c a l
A s s i s t a n t S e c r e ta r y andr
m ain tain c o n t a c ts f o r th e S e c r e ta r y
^ -C o m m is s io n e r o f A ccounts and D e p o s its ,
w ith th e o f f i c e s o f th e C om p troller o f th e C u rren cy, th e T re a s u re r o f the
U nited S t a t e s , th e
™... * Commissioner o f th e P u b lic D ebt, the Bureau
-rnr-r-"r—‘tr hinnig|
o f Engraving and P r i n ti n g and th e
£
"
%
, .......................... . uiw niatuim iui
1Bureau o f th e M int.
TREASURY DEPARTMENT
Washington
POP IMMEDIATE RELEASE
Wednesday, February 19, 1936,
Press Service
6-88
Wayne Chatfield Taylor of Illinois was inducted into office today
as Assistant Secretary of the Treasury, his nçmination hy the President
having been confirmed yesterday "by the Senate.
Secretary Morgentha.u announced that Mr, Taylor had "been designated
Fiscal Assistant Secretary and for the present would maintain contacts
for the Secretary with the offices of the Commissioner of Accounts and
Deposits, the Comptroller of the Currency, the Treasurer of the United
States, the Commissioner of the Public Debt, the Bureau of Engre/ving and
printing and the Bureau of the Mint.
He will a.lso assist the secretary in
matters connected with the moneta.ry stocks of gold and silver and foreign
transactions affecting the Treasury Department.
— oOo-
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR TEE PRESS
February 24, 1936.
RECEIPTS OE SILVER 3Y THE MINTS AND ASSAY OEEICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended February 21, 1936:
Philadelphia............................
San Francisco............................
Denver ........ .................
Total for week ended February 21, 1936...........
Total receipts through February 21, 1936.........
795,127.67 fine ounces
438,625.09
" «
8,275.46
»
1,242,028.-22
u
»
67,987,138.63**
" 11
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended February 21, 1936:
Phi 1ade lph ia....................
New York .......................
San Francisco ...................
Denver........ ............
New Orleans...................
Seattle .........................
Total for week ended February 21, 1936 ........
Total receipts through February 21, 1936.... 1.*
3,857.00
2,650.30
18,541.00
710.62
231.79
fine ounces
it
»
h
»
ti
li
it
h
25,990.71
»
112,657,236.90*** ,f
»
»
MUT-PTS OF GOLD 3Y TEE MINTS AND ASSAY OFFICES:
New
Imports
Secondary
Domestic
12,159.70 $114,055.60
$
484.85
166,400,00191,500.00
52 ,500.00
667,007.65 41,172.88
1,576 ,440.13
51,678.3017,533.45 535 ,735.20
162.01
Seat f1p
10^.00
m.;® I1 --- W M T ' ................. y
--------8,184.15
186 ,343.86
cl for week ended February 21, 1936.$" 897,245.65 #396,598.71
$2,351 ,666.05
Week ended Febnisxy Si, igse:
Philadelphia........................ $
Hew York ..........................
San Francisco..... ...................
.... .....................
GO^D RECEIVED 3Y FEDERAL RESERVE BANKS AND THE TREASURER'S OFFICE*
(Under Secretary's Order of December 28, 193sj
------- *
Recoived by Federal Reserve Banks: Uold Coin
(Gold Certificates
Week ended February 19........,$
12,131.00
$
228,980.00
Received previously............. 31,173,132.39
103,560,760.00
Total to February 19............ $31,185,263.39
$103,789,740.00
Received by Treasurer's Office:
Week ended February 19---- ----------------- ~
Received previously/............
267,056.00
Total to February 19.......... .$
267,056.00
NOTE;
$
$
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
** Plus 898,735.04 oz. adjustment
*** Plus 216,836.37 oz. Adjustment
1,800.00
2,384,420.00
2,386,220.00
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, February 25, 1936.
2/24/36
P ress
,
Service
„
^ ” M
Secretary of the Treasury Morgenthau announced last
evening that the tenders for $50,000,000, or thereabouts,
of 273-day Treasury bills, dated February 26, 1936, and
maturing November 25, 1236, which were offered on February
21, were opened at the Federal Reserve bankson February 24.
The total amount applied for was $98,970,000, of which
$50,000,000 was accepted. The accepted bids ranged in price
from 99.950, equivalent to a rate of about 0.066 percent per
annum, to 99.939, equivalent to a rate of about 0.080 per
cent per annum, on a bank discount basis. Only part of the
amount bid for at the latter price was accepted. The average
price of Treasury bills to be issued is 99.944 and the average
rate is about 0.074 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, February 25, 1036«
2-24-36.
~
Press Service
No.’ 6-89
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury bills, dated
February 26, 1936, and maturing November 25, 1936, which were offered on
February 21, .were opened at the Federal Reserve banks on February 24,
The total amount applied for was $98,970,000, of which $50,000,000
was accepted.
The accepted bids ranged in price from 99.950, equivalent
to a rate of about 0*066 percent per annum, to 99.939, equivalent to a rate
of about 0.080 percent per annum, on a bank discount basis.
the amount bid for at the latter price was accepted.
Only part of
The eyerage price of
Treasury bills to be issued is 99.944 and the average rate is about 0.074
percent per annum on a bank discount basis.
-ooOoo-
f<fS
-Morgenthau,.
c
S e c r e ta r y
^Vffnirmwyw announced
tod ay th e appointm ent o f W illiam P r e n t i s s f a s F i r s t f Deputy o K t r S l e r
to su cceed F* G. A w ait, r e s ig n e d .
Mr. P r e n t i s s w i l l co n tin u e a s Super
v i s in g B e c e iv e r in ch arge o f In s o lv e n t N atio n al B an k s, to which p o s itio n
he was ap p o in ted d u rin g 1 9 3 5 .
Mr. P r e n t i s s was horn in I l l i n o i s and was ed u cated f o r th e law , h ut
came engaged in b u sin ess and f in a n c e .
be
He has s p e c ia liz e d in th e liq u id a
t io n o f v a rio u s t r u s t s and the r e o r g a n iz a tio n o f b u s in e s s e n t e r p r i s e s .
B e fo re coming to Washington he a c te d a s R e c e i v e r
i
U nited S t a te s N atio n al Bank, Los A n geles^ F i r s t N a tio n a l Bank, B ev erly
H iH s £ F i r s t N atio n al Bank, C ulver C ity £ F i r s t N a tio n a l Bank, V en ice,
and th e F i r s t N atio n a l Bank, Bishop ^
I In recommending th e appointm ent o f ^ ¡^ ^ ¡A w ^ P ren tiss
C om p troller 4afi Tina faia&iiM
aaariBiiEi>i>■3F»«iT<BA»wPn. 0 * Connor, emphasized tfeeHtoofr»that
the most p r e s s in g and im p ortant m a tte r b e fo re h i s B u reau was th e liq u id a
t io n o f c lo s e d banks
a n d ^ ^ w afief fw ile b u s i n ^ ^ ^ ^ e r i e n c e ^ j^ W ^ t^ ^ ^ ^
iliu1 were11I m î l la r * wi th liq u i-
d a tio n problem s as^ staU -a«
of1
'Who'"3m»d l e g a l
"-rilrl bn T g t m i y
—C.lX.X'-J
At
¿Jt
\
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Press Service
Monday, February 24, 1936,
No. 6-90
Secretary Morgenthau announced today the appointment of William Prentiss
of California as First Deputy Comptroller to succeed F.G-. Await, resigned* •
Mr. Prentiss will continue as Supervising Receiver in charge of Insolvent
National Banks, to which position he was appointed during 1935.
Mr. Prentiss was born in Illinois a,nd was educated for the law, but became,
engaged in business and finance.
He has specialized in the liquidation of
various trusts and the reorganization of business enterprises.
Before coming
to Washington he acted as receiver for the United States Nationl Bank, Los
Angeles; First National Bank, Beverly Hills; First National Bank, Culver City;
First National Bank, Venice, and the First National Bank, Bishop, California.
In recommending the appointment of Mr. Prentiss, Comptroller O ’Connor
emphasized tha.t the most pressing and important matter before his Bureau was
the liquidation of closed banks and that Mr. Prentiss’s wide business experience-,
his familiarity with liquidation problems and his legal training particularly
ft,
qualified him for the position.
ooOoo
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Dist. of Col.
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minne sota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
looming
#96,824.48
14,115.49
29,450.07
69,020.90
114,510.48
41,272.80
37,007.98
10,405.68
20,795.14
47,999.24
104,462.56
22,888.39
24,711.31
148,709.64
81,696.88
70,330.24
48,690.90
89,293.40
62,399.22
24,512.57
42,116.90
94,821.30
97,425.14
75,875.90
81,344.22
84,881.74
21,993.06
40,067.06
13,992.98
16,490.90
78,555.48
34,303.40
255,851.98
115,686.64
26,080.39
128,179.39
70,490.90
33,954.24
179,266.32
25,580.48
69,500.65
26,518.65
97,881.73
156,917.98
21,076.48
19,072.55
80,345.24
38,866.98
62,511.65
66,580.40
17,671.90
TOTAL
#3,333,000.00
1U U 4
The Secretary* o f th e T reasu ry tod ay approved a l l o c a t i o n s
to th e S ta te s t o t a l l i n g $ 3 ,3 3 3 ,0 0 0 , made hy th e Surgeon G eneral
o f the U. S. P u b lic H ealth S e r v ic e , from funds a u th o riz e d under
th e S o c ia l S e c u r ity A ct f o r e x te n s io n o f p u b lic h e a lth work in
th e v a rio u s S t a t e s .
These a l l o c a t i o n s co v e r amounts f o r th e
rem ainder o f th e c u r r e n t f i s c a l y e a r .
In acco rd an ce w ith th e p ro v is io n s o f th e S o c ia l S e c u r ity
A c t, th e funds a r e f o r th e purpose o f a s s i s t i n g th e S t a t e s ,
c o u n tie s and h e a lth d i s t r i c t s in e s ta b lis h in g and m ain tain in g
adequate p u b lic h e a lth s e r v i c e s , in c lu d in g th e t r a i n i n g o f
p erso n n el f o r S ta te and l o c a l h e a lth work.
The A ct p ro v id es
f o r a l l o c a t i o n s a t th e r a t e of $ 8 ,0 0 0 ,0 0 0 a n n u ally .
lriaJLIowiiig le th e
a l l o c a t i o n s w e r e
mined^as th e A ct re q u ire ^ on th e b a s is o f :
d e te r-
1 - P o p u la tio n ;
2 - S p e c ia l h e a lth problem s; and 3 -F in a n c ia l n eed s, in th e
r e s p e c ti v e S t a t e s .
The^lr amounts re p re s e n t the maximum th a t
the S ta te s can r e c e iv e p rovid ed th a t th e y comply w ith th e
r e g u la tio n s o f th e P u b lic H ealth S e rv ic e
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Saturday. February 39, 1936»
Press Service
No* 6-9X
2-2 7 - 3 6 .
The Secretary of the Treasury has approved allocations to the States
totalling $3,333,000, made hy the Surgeon General of the U.S. Public Health
Service, from funds authorised under the Social Security Act for extension
of public health work in the various States*
These allocations cover amount
for the remainder of the current fis c a l year.
In accordance with the provisionscf the Social Security Act, the funds
are for the purpose of assisting the States, counties and health d is tric ts
in establishing and maintaining adequate public health services, including
the training of personnel for State and local health work.
The Act provides
for allocations at the rate of $8,000,000 annually.
The allocations were determined, as the Act requires, on the basis
of:
1- Population; 2- Special health problems; and 3 - Financial needs, in
the respective States*
The following represent the maximum that the States
can receive provided that they comply with the regulations of the Public
Health Service.
V
-
2
~
$
Alabama
A lask a
A rizon a
A rkansas
C a l i f o r n ia
Colorado
C on n ecticu t
Delaware
D is t . o f C o l.
F lo r id a
G e o rg ia ,
Hawaii
Idaho
Illin o is
In d ian a
Iowa
Kansas
Kentucky
L o u isia n a
Maine
Maryland
M assach u setts
Michigan
M innesota
M iss is sip p i
M issou ri
Montana
Nebraska
Nevada
New Hampshire
New J e r s e y
New Mexico
New York
N orth C a ro lin a
N orth Dakota
Ohio
Oklahoma
Oregon
Pen n sy lvan ia
Rhode Is la n d
South C a ro lin a
South Dakota
Tennessee
Texas
U tah
Vermont
V ir g in ia
Washington
West V ir g in ia
W isconsin
Wyoming
TOTAL
.9 6 ,8 2 4 .4 8
1 4 ,1 1 5 .4 9
2 9 ,4 5 0 .0 ?
6 9 .0 2 0 .9 0
1 1 4 ,5 1 0 .4 8
4 1 ,2 7 2 .8 0
3 7 .0 0 7 .9 8
1 0 ,4 0 5 .6 8
2 0 ,7 9 5 .1 4
4 7 .9 9 9 .2 4
1 0 4 ,4 6 2 .5 6
2 2 * 8 8 8 .3 9
2 4 ,7 1 1 .3 1
1 4 8 ,7 0 9 .6 4
8 1 ,6 9 6 .8 8
7 0 .3 3 0 .2 4
4 8 .6 9 0 .9 0
8 9 .2 9 3 .4 0
6 2 .3 9 9 .2 2
2 4 ,5 1 2 ,5 7
4 2 .1 1 6 .9 0
9 4 ,8 2 1 .3 0
9 7 ,4 2 5 * 1 4
7 5 .8 7 5 .9 0
8 1 .3 4 4 .2 2
8 4 ,8 8 1 .7 4
2 1 .9 9 3 .0 6
4 0 .0 6 7 .0 6
1 3 ,9 9 2 .9 8
1 6 .4 9 0 .9 0
7 8 .5 5 5 .4 8
3 4 .3 0 3 .4 0
2 5 5 .8 5 1 .9 8
1 1 5 ,6 8 6 .6 4
2 6 ,0 8 0 ,3 9
1 2 8 ,1 7 9 .3 9
7 0 .4 9 0 .9 0
3 3 .9 5 4 .2 4
1 7 9 ,2 6 6 .3 2
2 5 .5 8 0 .4 8
6 9 .5 0 0 .6 5
2 6 .5 1 8 .6 5
9 7 ,8 8 1 .7 3
1 5 6 .9 1 7 .9 8
2 1 .0 7 6 .4 8
1 9 ,0 7 2 .5 5
8 0 .3 4 5 .2 4
3 8 ,8 6 6 .9 8
6 2 .5 1 1 .6 5
6 6 ,5 8 0 .4 0
1 7 .6 7 1 .9 0
$ 3 ,3 3 3 ,0 0 0 .0 0
tmé requeaiad to raaalve subscriptions, to ssafea ftIlotnauta on ih» basis *mü up
to tbs luacnmts indicated by
tim m m m tm rf
o f ilia
&•«*■*? to ih»
mmm
b m k @ o f iba rmstpooXiro dSstriais, to las«# allotment noti®#», to r e m i r o m »
tor nota«
allotted, to
•a* they nay l i »
wmko delivery
of not#«
on full-paid mbaoript lona allot
tutori® receipts pendini» dal Ivory of the definitiv« not#».
*• *»• Baoratnry of ih# tramrory my at any tina» or fron tina to tina, p
»©ribo supploßiontnl or mmmámt o r y m lo o m â régulât ions governing tbe offering,
wbtoh a iU be m m w iim ta û promptly to the Fédéral Basarv# banka.
i ® » « MoiBBirmw,
fïu,
Joeretary of the 1*easury«
a llo tm e n ts upon, o r t o r e j e c t , a p p lic a tio n s f o r l a r i p r am ounts, o r t o adopt m y
or a l l
of » M e e th o d s or mm &
%
U&r m th o d e o f a l l o t a e n t m
û c l a s s i f i c a t i o n of
a l l o t t a t a as s h a l l be decried by bias to bo l a tb s p u b lic I n t e r n a t ; and bl« « « tic a
l a ani' o r a l l o f th e s e -peep ects « h a l l be fir m i*
isu b ject to th e « « ren e r a t i o n s ,
cash s u b s e r ip tltm s f o r m
m
m
t& up to m
û In clu d in g £ 8 ,0 0 0 w i l l be g iven preferred
a llo tm e n t, and cash s u b s c r ip tio n s f o r « s i i
o v er $ 8 ,0 0 0 w i l l bo a l l o t t e d #a an
eq u al p e r o » t a i # b a ci» * b a t n o t lo a » th an th « m x J ta B p r e f e r re d a llo tm e n t; m
û
s e b e e lp t1 on» in payment Of which T reaao ry Hot»« o f S e r i e s C«1986 a r e tendered
w i l l b© a l l o t t e d in f u l l .
A llotm en t n o t i » « w i l l be aont ou t prom ptly upon e i l e t « I
s e a t , and the b a s is o f th e © llotm ^ at w i l l bo p u b lic ly announced.
IV.
1.
PAMENT
Payment a t p ar cad a c c ru e d i n t e r e s t , i f a s y , f o r n o te s a l l o t t e d on ee«h
su b ser lp t1 oris gtuet be node o r com pleted on o r b e fo re Harsh I d , 1 0 3 8 , o r on lo te ?
e llo ta s n t.
l a ©very «ewe where paywent it» n o t m couple to d , th e f o r m a t with
a p p lic a tio n
up t o § p e rc e n t of th e amount o f not©» a p p lie d f o r s h e l l , upo»
d e c la r a tio n made by th e B o e re te ry o f th e tr e a s u r y i a h ie d i s c r e t i o n , bo fo r f e ite d
t o th e U nited a t e t e s *
s a y q u a lifie d dopo» i t e r y w ill be p e m i t t e d to m ku payment
by c r e d i t fo r n o te s a l l o t t e d to i t f o r i t s e l f and i t » » » t o n e r s up t o any mmn%
f o r which i t s h e l l be q u a lif ie d ia © * » » » o f e x i s t i n g d e p o s it» , when m n o tifie d
by the F e d e ra l Reserve bank o f i t s d i s t r i c t ,
’T reasury H ots» o f n o rie » n -1 9 3 0 ,
s u tu r in g A p ril 1 5 , m e , w il l be a c c e p te d a t p ar in payment f o r a w note® aubacrlb
f o r and a l l o t t e d and such payment should be m à * when th e s u b s c rip tio n i s ttmfarrà
coupons dated A p ril 1 5 , 1 9 3 8 , B u st bo atbaeitad t o th e n o te s when su rren d ered , «8Ô
accru e d i n t e r e s t fro® O ctober 1 5 , 1 9 3 8 , t o March 1 6 , 1 9 3 8 , (6 1 3 *0 1 8 4 4 p er $ 1 ,8 0 0 , >
w i l l bo p aid fo llo w in g a c c e p ta n c e o f th e n o te s*
V*
1.
§ m u &
m pm m m m
AS f i s c a l s l a n t s o f th e tinited s t a t e s , F e d e ra l R eserve banks a re mitbori*
t
• i •
j0"
State», or hy m y locai ter log milhoritp.
3.
The noto» « i l i b© aceopted at par during snob tino and ondar eueh rul®«
and regulailon* a» * ia ll b» proscritta or «pprorod Py th® Saoratary of th®
Tr®*®ury la p»yra®nt of lamine and pronta t« ra i payable «t th* «aturity of thè
note«*
4,
?h« note» « ili he aeceptabt© to eeotire depeelt» of m»blie
hot
will not bear ih® ei reo lettoli ppirileip*
5*
Bearer note» tritìi interest eoupotui et testi «d wlll he insùad in denomina«*
ticma of 1100, 1500, 11,000» #6,000, £10,000 and #100,000.
The m t& » v ili net
he iaeiiisi in .r e g is te r f o n a «
in,
1.
Atro & 3u m m b s y
Stibeeriptlona « i l i he recolvrd e t thè Federai Inserire himk» and branche®
amd at th» Treaeurp te portue nt, Wsshlttgten*
Banking institution» generellF «iU
handl» application» for stibaerihers, hot only th» Federai fiesenr» ben);» end thè
Treeeury Bepertneat are «uthorised to set a» o ffic ia i »iwmeiee*
tione from in corp orati ben*» and trust f
ossh wbaerip-
for th air emn eeeount will b©
received «lthout deposit but wlU he reetri«ted in ©a®h c&er to ai* smnmt not
o x o m M m o m ~ h * lt o f thè « b itto é capitai and m ^ L w t of th» ■ubeeriMn« bank
or tru st eaapaey.
m m subseriptioa» frcm a ll others mist he eeeempenied» i t
for more t h m £6,000, by payeaat of #6,000 or $ w * * m t of th» amornt of notes
appi!ed fo r, ehiohewr i t th© grette*f and, if for #6,000 or le»», by jpeywrat
in f u ll,
fté Beeretery of thè Tre»«urp re»«erme thè rirb t to o lo m «*» hook»
m to m y or »11 sobsorirtione or »lasse» of eubeeription» at ®W timo *d thout
noitee*
The S e e r e ta ry o f th è T reasu ry r e s e r v e » thè r l* & t to r e j a e t f c
•»bserip-
t l o n , in »Poi® o r In s * r t . to « l l o t 1®»® t t a * «he «sou n t o f noto® appll® «
*
attico B llo te o n t® in f u l l upon «p p U o u tio n » f o r ® n « ll* r «isount® *n« t o *«*»* w tof> i
1
usntKD #&?bs
ìw
Am m îùA
x- 1/2 vmcms Timmmt wsw or «erra a- iwx
ifet«d anà b#*ring int«r©»t frm inurbi Xß, 19M
O®* ®MP^
l ^itttw ig t p&yt&Xli fSttnjîi 10
^
;N»ptoiibâôP IB
T m u m m r DiPAimî»f,
1991
OfflcMi of tfe© ^©0 r©t«r3r,
BopKrtüHicit c l r o u l w H©« 8Ö8
Wßohin&ton, MmmAi 1* XtO0<
P u b lia D©bt 3«nri© «
I.
l.
O I T O M ï CF
W®TM.
T&© 8©«r©$#*y o f th # Troaiiury, ?mra*i&nt to th© © u th o rity o f t t e
ftofiooA
l i b e r t y Sona a e t , a p p r o d a Beptonber B *, 1 9 1 9 , »»
I n e t t e » *<ib*«rtption*
a t par and a cen i ed i n t e r e s t ,
tromth è jieopla o f th è ta iite
* wrt n e ta * o f th a iä tlte d S t e t « # , d eaien ated ïro n au ry H otea o f S e r te » ¿ - 1 9 4 1 .
* 4
axount a f th * o f f e r it i « i s 6 4 0 0 ,0 0 0 ,0 0 0 , e r th a r» a b a o t* ,w ith tha r i * t vnmrimä
th »
ij
ì e a r e te r y o f tb « -freaeury t o ln c ra a a e « t a o f f e r t « « by an anonnt « u f f ic i e n t
oeoept a l l a u b s a rtp tlo n a f o r whiafe Ç reaaury Hotea o f S o r te » § • » » , m i t r i n e
April Iß, 1936, or© to*i4«r*Ä iß
XX.
l,
*«©©gfc©4#
DBSCHIFriOtl 8f
Ä a oata* «til b» datad b&reh 19, 1986, and *111 bat» intereet fra* ttaj
dato at th« rat* of 1 - 1 / 2 paroaat per annua, payable on a aoBlanmiul baala
on
Septaraber 16, 1966, «ad «sereafier on March 16 and gaptesber IB In *aoh yaar.
thay «ili » t a r a tsareh 16, 1941, «ad rtll noi ba aubjaet to cali for r*d*RP«cn
prior io m t t a r i* ? .
tt.
3 » no tea shaU be «x«ept, boti, aa to prtnolpel and intere »t, fron all
taxation (exeept eatate or lnberltanee tarne, or «ift taxe») no* or hereafter 1
»oeed by thè S a i « State*, aay Stato, or any of «.e poM o a . i o n * of »
* it*4
4
application up to 5 percent of til» m o u n t of band» applied for « M X , upon
declaration undo by the secretary of the Treasury In hi« discretion, bo for
¿my
feited to the United Stat«»,
qualified depositary «ill bo permitted to
make payment by «rodIt for bonds «1 lotted to it fur Itself sad Its customers
up to
any mount for which
it »hall bo qualified In ox«®«« of existing donosits,
when so notified by th® Federal Beservo beak of it® district«
ireas?iry >?ot®«
of Seri©« 0*1936, maturing April 16, 1934, «ill be accepted at par in payment
tor my
bond» subscribed for and allotted and snob payment should be mode shea
the subscription 1» tendered.
Coupons dated April 18, 1934, must be atteehed to
th® notes when surrendered, and accrued interest from October 1ft, 1938, to i%reh
16, 1936, (#18,0X844 per f1,000),will be paid following accepfeanee of the notes,
7*
1,
,i& fiscal
agents
of
mmsm* monniom
the United States, Federal Eftsrw banks are
authorised and requested to receive subscriptions, to mite allotments
and up to the
M s err®
mounts
on
the bssU
indicated by the Secretary of the Treasury to the federal
banks of the respective districts, to issue allotment notice», to resslv«
payment for t e d s allotted, to
«Hotted, and they m y
m&ko
delivery of bonds on full-mid subscription«
issue interim receipts pending delivery of the definitive
bonds,
1«
The
Moratory
of th® Treasury
¡my
at any time, or from
tim to
tirsr,
prescribe supplemental or amendatory rules and regulations governing the offer
ing# which will be communicated promptly to th® Federal ??©serve banks,
mwmr
morokotrao, t o
*,
Secretary of th© Treasury,
- 5 *
treasury Department are authorised to act m
official agencies.
§jpp subscrip
tions from ineerporated banks and t m s t eanpanies for their a m account will be
received without deposit but will be restricted in eaoh case to an amount not
exceeding one-half of the combined capital and surplus of the subscribing bank
I m
trust company.
Cash «subscriptions from all others must be eceemnsnied, if
'{¿for more than t 5 t000, by payment of
18,000 or g percent of the amount of bonds
■i '4■
applied for, whichever is the greater; and, if for 15,000 or less, b* payment
§&
is full, The neeretary of the 1’reasury reserves the ripbt to close the books
-f ■'
as to m y or all subscriptions or classes of subscriptions at any time without
notice.
S*
The Secretary of the troamtry reserves the right to reject any subscrip
tion, la whole or in p* rt, to allot loss than the tuaount of bonds applied for,
to make allots»at» in full upon applications for smaller amounts and to make
reduced allotments upon, or to reject, applications for larger amounts, or to
adopt any or all of m id rsethod® or such other method® of allotswint end classi
fication of allGtsacmts as s i ^ l be deemed by hi$ to be In the public interest;
and hie set Ion in any or all of these Aspect» shall lie final* Subject to
if%
these reserwutions, cash subscriptions for amounts up to and including £6,000
will be given preferred allotment, and cash subscription® for amount* over ff>,000
will be allotted on an eqvmX per*»stage basis, but not less than the maxima® preferred allotment; and subscriptions in payment of which Treasury notes of £•*!*•
0*1996 are tendered will be allotted in full.
Allotment notices will be sent out
promptly upon ml lota* at, and the basis of the si lot me at will be publicly ennoua««^
if.
nxm m
1 . payment at par ail accrued interest, i t any, for bonds allotted on east*
smbecrlptloa® mist be made or completed on or before March 16, 1996, or on i*t«v
allotment#
In every ease where payment Is not so completed, the peyuent with
- 8
-
dat® of yad«8*ptioa i##i|psji%04 ia s||f sueh notice, Interest
on
the bond® o*tlled fo
rcd s& p tlo a s h a ll c e a se *
0«
from all
*Hi# bond» aihcJLl be exempt, both as to principal and interest,
taxation sow or h©n?&ft«r imposed bp th® United States, any State, or aflp of the
possessions of the Halted States,
estate
or
taxes,
towB&nXy "known as
inherits®«« taxes,
or
by any local taxing authority, except (a)
or gift tax««, and (b) isradusaiad additional tneom
surtax#», and ®xo©#»**pr©f its and war—prof its taxes, now
or hereafter imposed by the Tteited State®, upon th# incom* or profits of individuj
partnerships, associations, or corporation®.
Hit- interest on «» atvount of bonds j
authorise»* by the second Liberty Bond net, approved 9«pt«*b«r 84# 1 W #
«*
tbs principal- of which docs net exceed in the «g^regata §5,000, owned by any
individual, partnership, association, or corporation, «hall be exempt f|fst tb«
tax«» provided for in clans# (b) above*
S.
the bonds will be acceptable to secure deposits of public moneys, but wfl
not bear the circulation privile^ and will not be entitled to any jr I vile*» of 1
version,
4.
Bearer goods with interest coupons attached, and bond# »agistor«a «» '*
principal and lntsrest, will he issued in denoainations of *50, *100, *500, « , «
*5,000, 110,000 and *100,000.
Provision will be and® for the interchange of bond
of different denominations and of coupon and registered bonds, and for the transl
of registered bonds, under rules and regulations prescribed by the secretary of <
\
treasury*
5,
x\
fb© bonds will be subject to th© g^seral repletions of ^ ^ pe8$,ury 1 *
m a t . now or hereafter prescribed, governing TJnltcd states bonds.
ni.
X.
rsraaca"nos
aj©
subscriptions will be received at the federal Peserwe banks and branch»
and at the
Treasury
Bepertaant, Washington.
Banking lnstitutiona
hundi. application, for subscriber., but only the
g»
«rally
'“ u
m - r a l «.serve bank, end « •
. ,,' ,
w a rn:
"
y*rr>
..r '
?.v
states or amotca
B -S/4 TTfBCKKT THEASOBY BONDS OF 1948-51
Dated and bearing in te re st, from llsrch 1 6 , 1956
mmmmi
at
rm
of
nm
B**® '<dreh 1 5 , 1951
rm wmm
r n w a t fab aj©
ATTHS t&OOT 1 5 , 194©
of
,
Aomrn mmvm m m
I n te r e s t payable March 15 «ad ilepta^ber 15
TOHASUHT DBftvfflM'SNT,
1956
Office of the Becretery,
Department circular Ho* 6§f
Washington, Hirsh 2, 1 9 ?1
Fn b lio Debt S e rv ic e
i,
c rrm im
of m m
Xm the Secretary of the Treasury, pursuant to the authority o f the second
Liberty Bond Act, approved Septeid&ey 2 4 , 1 9 1 9 , as amended, invitee subscriptions?,
at peer end accrued in terest, frags the people of the United States f o r 5MS/4 per
cent bonds of the United States, da expiated Treasury Bonds of 1 9 4 8 - 5 1 .
The «roouij
of the o f f e r i n g is # # 5 0 ,0 0 0 ,0 0 0 , or thereabouts, with the right reserved to the
Seeretsry o f the Treasury to increase the offering by an m ount sufficient to aecept a ll subscriptions for which Treasury Motes o f Berios C -1 9 8 6 , maturing April
16, 1956,
are tendered in payment aid accepted.
II.
1,
DNSCftlFtlOH OF BON138
m e bonds will be dated March 16, 1956, and will bear interest from tha
date a t the rate of 2-5/4 percent per annum9 payable on a semiannual basis on
September 15, 1956, and thereafter on March 16 end September 16 in each year uat
the principal amount becomes payable.
They will mature March l b , 1981, but m y 11
redeemd at the option of the T&ited States on and after March 18, 1948, in wholi
o r in p e r t , a t par and accru ed i n t e r e s t , on any i n t e r e s t day o r d ay s, on 4 mnW
n o t i c e o f redem ption given in such manner a s th e S e c r e ta r y o f th e T reasu ry shall
p re s c rib e .
In m m o f p a r t i a l redem ption th e bonds t o be redeemed
will be detss
by such method a s may be p re s c rib e d by th e S e c r e ta r y o f th e T re a s u ry .
■
___________________ .„■.
..
■
itftatejyi.'isass,
T rm th
I
P a y o u t f o r any bonds o r not®» a l l o t t e d must be Hads o r completed
on o r b efo re March 1 6 , 1936«
I f T re a su ry n o te s m t u r i n g A p ril 1 5 , 1 9 3 0 ,
nr© te n d e re d , coupon du® A p ril 1 5 , 1930 fflftst bo a tta c h e d t o th e n o t« » ,
and a ccru e d i n t e r e s t on such not®» t o Inarch 1 6 , 1 9 3 0 , w i l l b® p aid fo llo w
in g t h e i r a c c e p ta n c e .
fb® r i g h t i s re se rv sd t o c lo s e th e books a s t o any o r a l l s u b s c rip tio n »
o r c l a s s e s o f s u b s c rip t ion s a t any tim e w ith ou t n o t i c e , e i t h e r f o r th e
T re a su ry bonds or t b s 'Treasury not®» and w ith r e s p e c t t o th e cash o f f e r in g
o r with r e s p e c t to th e exchange o f f e r in g o f e i t h e r .
I n t e r e s t on th e p u b lic debt t o th e amount o f about $1 3 3 ,0 0 0 ,0 0 0 , and
T reasu ry b i l l s to th e amount o f 1 *4 6 8 ,0 0 0 ,0 0 0 a r e payable on M m h 1 6 , 1 9 3 6 .
The amount o f T reasu ry K otos o f S e r i e s 0 -1 9 3 6 m atu rin g on A p ril 1 5 , 1936
i s 1 6 5 6 ,8 1 9 ,0 0 0 .
The t e x t s o f th e o f f i c i a l c i r c u l a r s fo llo w :
ffe# 'immmxf tagj£| « i l i he i&sued in %m
b e e r e r bm à» with i n t « r a s t
« -sipm » e t te e à e d , and tra ile r e g i ut «rad m to ho ih ’p rtm tpm t «né i n t e r e s t ; feoth
f u s i « I H he i aaued in th è denomina t i aa* o f |S0# 1 1 0 0 , $ 8 0 0 , $ 1 ,0 0 0 , # 5 ,0 0 0 ,
# 1 0 ,0 0 0 «»A # 2 0 0 ,0 0 0 ,
fhe t^etteury n o tes « i l i he lasued «mly in b e a re r f a r *
wiih eoupeae a tta o h e d , in -ih a donasti ma t iena o f $ 1 0 0 , # 000, # 1 ,0 0 0 , $ 0 ,0 0 0 ,
1 1 0 ,0 0 0 &a& 1 1 0 0 ,0 0 0 *
Appli «etiena «ili Uh recai«ad ai thè F«d«n^ 1 k#*i«rre betulla «ad bra^cat»,
«ad
si Use freaaiiry Oepartesa&t, ÉfeahingtaEU
imiiai inatltiitio»® generali?
wiìl bandi« application® far aubaeri bara, bui m X y tàa ¿••«durai l'iesenr« b « k a
«»4 thè freaaury i^epnrtaa&t are sftàthorixed la act un affidai age-nftiea*
ili
re «peci to m n h f»ufc«criptica e far «ither 16# ¿reaaury band» or thè ‘«‘re&uury
notra, application» fron incorporateci baite» cr4 trust ù m p m i m n for «ither ieaue
far thair ewa aceount «ili be ree* i«#4 «itheui de posi t bui «ili he reetri ated
in «eteh cisau and far «neh offa ring to nn amouat m %
cambined capitai m é
#ff thè
mt*'$1«» of ih« eubacribia*g tank or trust company*
Applica*
tiona trom eli etbara must he accampani «4, ìf fot «ore tfeaa $8,000, by p m y m m t
ot #8,000 or 8 persesit af thè «gacmot aoplled for, «Meharer
if far #8,000 or le««, by pejnsent in f u l l «
in thè greater; and,
ìiitfc reap&et to #xaìt«ug# sufeacrlp-
tione far elther beai « or note«, application« ahould he no e alenimi by e liba
faoe amcuat of t-7/a parevat Txeoaury notes of Cerio a 0*19216 tendere« in peyeent.
S a b ja it to th è r e n e r t« t i e n e e s t f o r th in thè o f f i c i a i e i r n u l a r s , cash
su User lpt1 one f a r amounta up t o end in e lu d ia g # 8 ,0 0 0 « i l i he g i r e » p ra fe rre d
a ìlo ta ifc s t, puah sufeaeriptiona f o r nm untn m m 1 8 ,0 0 0 « i l i he a I l o t i # « #n ah
«qual p e rc tn ia g e b e a la , bui n o i l e s a th&n th è « u h m
mmmm?* au h a o rip tie n a « i l i he a H o tta d in f u ll»
p re fe rre d a i l e ta tu a i, and
m a i ü
hashingtoa
ma w ^ m A * » m u a
u#rti#©
W
KÊÈÊSà
JWHMÜIJU
-1933 •
H
M
-
Ü9*
è i w t e f « f th#
£ , - 9 2^
Sife$«aJithtt« S i today o f f e ring f o r eufeaeii p tio » ,
ut par «Ad « « « £ & # lat#**#*, through tu« M
m
Jê
S l»«*rr* tanks, #110,000,000,
or fcher*«bout*, o f l» -i6 - y # s r Ä-3/4 pere«ai 'ùmmury bead* o f 1948*51, sod
M
^f00,000,0009 or there*feouts,of
4*1941*
1-1/E
ftwamvy noto« of
«ri®«
Hi# m M m & o f 8-?/ê pmmm% Treasury M?i#s of a*ri# » 0*1936 m u ta rla
April Ü , 1954, are offer## th# privilege of «««haut lag
either for ih# Tr#a#ury boaâs or ih# ït#si#ury aoto«, Sàt
such aaturlo# auto#
So fe# m 4*
fear for par with sa «Ajusiuientö of accrued interest ss of inarati 16, I t t i , and
io Hit ariani mo'h aaehaag# privili«# i* avuiled of, ih# offering of feeada or
of moia# üsif fe# isaraaaad«
Bfca E**5/4 percent treasury feohd* of 1948*61 no# offered for eaefe, òsi ih
•lebaaga far treeaury he* se ssaturiag Aprii 15, 1936, #111 h# dated Marea 16,
1936, a&d #111 feasr interest fra»? that Aste al tfc# rat# of E»2/4 par##ut p#r
a##«» ayafel# MMiUhiauilly*
îh#y #111 sa tur# üareh 16, 1951, fehl ¿ g i 5# re*
et th* opiioa of Ih# Ohi %mù atetas oh *n4 after à%r#à 16, 1948*
Ife# 1-1/E pereant :r««sury aste» #i aeri#« *-1941, also offered for osea,
#ö6 Is axenaag* for tra«#tir/ not«» satu ri Bg Aprii 16, 1936, will fe# datad üarefe
16, 1936, »ad *111 fesur laterest f v m that dst# a t the r^t# of 1*1/6 por##ut
P#r «ami® pacati# eegsi# armally*
Tmy #111 stature Mare# 16, 1941, »ad #111 hot
fe# imfejeet to t a i l for r#6#aptloo before that hat#»
% # X reaeury boa#« sad the Treasury not## w ill fee aooorded th e setae orerà?-
Sion# frasi tarati oa a# ar# aeeerded other issuoi» of fieasury beads »si ITeasary
»otee, reapeotively, mm outa t«ad iag*
Ih### previsions are ep«eifi#&iXy set
forth im the affienai air#ulars issued today*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday, March 2, 1936,_________
2-29-36
Press Service
No, 6-92
Secretary of the Treasury Morgenthau is today offering for subscription,
at par and accrued interest, through the Federal Reserve "banks $650,000,000,
or thereabouts, of 12-15-year 2-3/4 percent Treasury bonds of 1948-51, and
$600,000,000, or thereabouts, of 5-year l~ l/2 percent Treasury notes of Series
A-1941.
The holders o f.2-7/8 percent Treasury notes of Series C-1936 maturing
April 15, 1936, are offered the privilege of exchanging such maturing notes
either for the Treasury bonds or the Treasury notes, the exchange to be made
par for par with an adjustment of accrued interest as of March 16, 1936, and
to the extent such exchange privilege is availed of, the offering of bonds or
of notes may be increased,.
The 2-3/4 percent Treasury bonds of 1948-51 no?; offered for cash, and in
exchange for Treasury notes maturing A pril 15, 1936, w ill be dated March 16,
1936, and w ill bear interest from that date at the rate of 2-3/4 percent per
annum payable semiannually.
They w ill mature March 15, 1951, but may be re
deemed at the option of the United States on and after March 15, 1948.
The l- l/ 2 percent Treasury notes of Series A-1941, also offered for cash,
and in exchange for Treasury notes maturing A pril 15, 1936, w ill.be dated March
16, 1936, and w ill bear interest from that date at the rate of l- l/ 2 percent
per annum payable semiannually.
They w ill mature March 15, 1941, and w ill not
be subject to c a ll for redemption before that date.
The Treasury bonds and the Treasury notes w ill be accorded the same exemp
tions from taxation as are accorded other issues of Treasury bonds and Treasury
notes, respectively, now outstanding.
These provisions are sp e cifically set
forth in the o ffic ia l circulars issued today.
- 2 -
The Treasury "bonds w ill be issued in two forms, bearer bonds with interest
coupons attached, and bonds registered as to both principal and interest; both
forms w ill be issued in the denominations of $50, $100, $500, $1,000, $5,000,
$10,000 and $100,000.
The Treasury notes w ill be issued only in bearer form
with coupons attached, in the denominations of $100, $500, $1,000, $5,000,
$10,000 and $100,000.
Applications w ill be received at the Federal Reserve banks and branches,
and at the Treasury Department, Washington,
Banking institutions generally
w ill handle applications for subscribers, but only the Federal Reserve_banks
and the Trea.sury Department are authorized, to act a.s o ffic ia l agencies.
With
respect, to cash subscriptions for either the Treasury bonds or the Treasury
notes, applications from incorporated banks and trust companies for either issue
for their own account w ill be received without deposit but w ill be restricted
in each case end for each offering to an amount not exceeding one-half of the
combined capital and surplus of the subscribing bank or trust company,
Applica
tions from a ll others must be accompanied, i f for more than $5,000, by payment
of $5,000 or 5 percent of the amount applied, for, whichever is the greater; and,
i f for $5,000 or le ss, by payment in f u ll.
With respect to exchange subscrip
tions for either bonde or notes, applications should, be accompanied by a lik e
face amount, of 2-7/8 percent Treasury notes of Series 0-1936 tendered in payment
Subject to the reservations set forth in the o ffic ia l circu la rs, cash
subscriptions for amounts up to and including $5,000 w ill be given preferred
allotment, cash subscriptions for amounts over $5,000 w ill be allotted, on an
equal percentage basis, but not less than the maximum preferred allotment, and
exchange subscriptions w ill be allotted, in f u ll,
Payment for any bonds or notes allotted must be made or completed on
or before March 16, 1936,
I f Treasury notes maturing A pril 15, 1936, are
tendered, coupon due A pril 15, 1936 must be attached, to the notes, and accrued
- 3interest on such, notes to March 16, 1936, w ill he paid following their acceptap.ce*
The right is reserved to close the hooks a.s to any or a ll subscriptions
or cla.sses of subscriptions at any time without notice, either for the Treasury
bonds or the Treasury notes and with respect to the cash offering or with
respect to the exchange offering of either.
Interest on the public debt to the amount of about $133,000,000, and _
Treasury b ills to the amount of $452,000,000 are payable on March 16, 1936.
amount of Treasury Notes of Series C-1936 maturing on April 15, 1936, is
$558,819,000.
The- texts of the o ffic ia l circulars follow:
The
UNITED STATES OE AMERICA
2-3/4 PERCENT TREASURY BONDS OE 1948-51
Dated and oearing; interest fron March 16, 1936
Due March 15, 1951
REDEEMABLE AT THE OPTION OE THE UNITED STATES AT PAR AND ACCRUED INTEREST ON AND
AFTER MARCH 15, 1948
Interest payable March 15 and September 15
1936
Department Circular No. 557
----Public Debt Service
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, March 2, 1936.
I.
1.
OEEERINC OP BONDS
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions,
at par and accrued interest, fron the people of the United States for 2-3/4 per
cent bonds of the United States, designated Treasury Bonds of 1948-51. The «count
of the offering is $650,000,000, or thereabouts, with the right reserved to the
Secretary of the Treasury to increase the offering by an amount su fficien t to ac
cept a ll subscriptions for which Treasury Notes of Series C-1936, maturing April
15, 1936, are tendered in payment and accepted.
II.
1.
DESCRIPTION OF BONDS
The bonds w ill be dated March 16, 1936, and w ill bear interest from that
-ate at the rate of 2-3/4 percent per annum, payable on a semiannual basis on
September 15, 1936, and thereafter on March 15 and September 15 in each year u n til
the principal amount becomes payable.
They w ill mature- March 15,1951, but may be
redeemed at the option of the United States on and after March 15,1948, in whole
or in Pa rt> at par and accrued interest, on any interest day or days, on 4 months’
notice of redemption given in such manner as the Secretary of the Treasury shall
prescribe.
In case of p artial redemption the bonds to be redeemed w ill be deter
mined by such method as may be prescribed by the Secretary of the Treasury. From
2
the date of redemption designated in any such notice, interest on the bonds
called for redemption shall cease.
2.
The bonds shall be exempt, both as to principal and interest, from a ll
taxation now or hereafter imposed by the United States, any State, or any of the
possessions of the United States, or by any local taxing authority, except (a)
estate or inheritance taxes, or g ift taxes, and (b) graduated additional income
taxes, commonly known as surtaxes, and excess-profits and war-profits taxes, now
or hereafter imposed by the United States, upon the Income or p ro fits of indi
viduals, partnerships, associations, or corporations.
The interest on an amount
of bonds authorized by the Second Liberty Bond Act, approved September 24, 1917,
as amended, the principal of which does not exceed in the aggregate $5,000, owned
by any individual, partnership, association, or corporation, shall be exempt from
the taxes provided for in clause (b) above.
3.
The bonds w ill be acceptable to secure deposits of public moneys, but
w ill not bear the circulation privilege and w ill not be entitled to any privilege
of conversion.
4.
Bearer bonds with interest coupons attached, and bonds registered as to
principal and interest, w ill be issued in denominations of $50, $100, $500, $1,000?
$5,000, $10,000 and $100,000.
Provision w ill be made for the interchange of bonds
of different denominations and of coupon and registered bonds, and for the trans
fer of registered bonds, under rules and regulations prescribed by the Secretary
of the Treasury.
5.
The bonds w ill be subject to the general regulations of the Treasury
Department, now or hereafter prescribed,governing United States bonds.
III.
1.
SUBSCRIPTION AND ALLOTMENT
Subscriptions w ill be received at the Federal Reserve banks and branches
and at the Treasury Department, Washington.
Banking institutions generally w ill
handle applications for subscribers, but only the Federal Reserve banks and the
3
Treasury Department are authorized to act as o ffic ia l agencies.
Cash subscrip
tions from incorporated "banks and trust companies for their own account w ill he
received without deposit hut w ill he restricted in each case to an amount not
exceeding one-half of the combined capital and surplus of the subscribing hank
or trust company.
Cash subscriptions from a ll others must he accompanied, i f
for more than $5,000, by payment of $5,000 or 5 percent of the amount of bonds
applied for, whichever is the greater;
in f u ll.
and, i f for $5,000 or less, by payment
The Secretary of the Treasury reserves the right to close the books
as to any or a ll subscriptions or classes of subscriptions at any time without
notice.
2.
The Secretary of the Treasury reserves the right to reject any subscrip
tion, in whole or in part, to allo t less than the amount of bonds applied for,
to make allotments in f u ll upon applications for smaller amounts and to make
reduced allotments upon, or to reject, applications for larger amounts, or to
adopt any or a ll of said methods or such other methods of allotment and c la s s i
fication of allotments as sha.ll be deemed by him to be in the public interest,
and his action in any or a ll of these respects shall be final*
Subject to
these reservations, cash subscriptions for amounts up to and including $5,000
w ill be given preferred allotment, and cash subscriptions for amounts over $5,000
w ill be allotted on an equal percentage basis, but not less than the maximum pre
ferred allotment;
i
and subscriptions in payment of which Treasury Notes of Series
C-1936 are tendered w ill be allotted in f u ll. Allotment notices w ill be sent out
promptly upon allotment, and the basis of the allotment w ill be publicly announced.
XV. PAYMENT
I
1.
Payment at par and accrued interest, i f nny, for bonds allotted on oash
subscriptions must be made or completed on or before March 16, 1936, or on later
allotment.
In every case where payment is not so completed, the payment with
4
application up to 5 percent of the amount of "bonds applied for shall, upon
declaration made "by the Secretary of the Treasury in his discretion, "be for
feited to the United States.
Arp/ qualified depositary w ill he permitted to
make payment "by credit for bonds allotted to it for it s e lf and it s customers
up to any amount for which i t shall he qualified in excess of existing deposits,
when so notified by the Federal Reserve hank of its d is tric t.
Treasury Notes
of Series 0-1936, maturing April 15, 1936, w ill he accepted at par in payment
for any bonds subscribed for and allotted and such payment should be made when
the subscription is tendered.
Coupons dated April 15, 1936, must be attached
to the notes when surrendered, and accrued interest from October 15, 1935, to
March 16, 1936, ($12.01844 per $1,000), w ill be paid following acceptance of
the notes.
V.
1.
GENERAL PROVISIONS
As fis c a l agents of the United States, Federal Reserve banks are
authorized and requested to receive subscriptions, to make allotments on the
basis and up to the amounts indicated by the Secretary of the Treasury to the
Federal Reserve banks of the respective d istric ts, to issue allotment notices,
to receive payment for bonds allotted, to make delivery of bonds on fu ll-p a id
subscriptions allotted, and they may issue interim receipts pending delivery
of the definitive bonds.
^
2.
The Secretary of the Treasury may at any time, or from time to time,
prescribe supplemental or amendatory rules and regulations governing the offer
ing, which w ill be communicated promptly to the Federal Reserve banks.
HENRY MORGENTHAU, JR .,
Secretary of the Treasury.
UNITED STATES OF AMERICA
1-1/2 PERCENT TREASURY NOTES OF SERIES A-1941
Dated and Idearing interest from March 16, 1936
Erie March 15, 1941
Interest payable March 15 and September 15
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, March 2, 1936
1936
Department Circular No. 558
Public Debt Service
I.
1.
OFFERING OF NOTES
The Secretary of the Treasury, pursuant to the authority of the Second
Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions,
at par and accrued interest, from the people of the United States for l - l / 2 >per
cent notes of the United States, designated Treasury Notes of Series A-1941.
The
amount of the offering is $600-,000,000, or thereabouts, with the right reserved
to the Secretary of the Treasury to increase the offering by an amount sufficient
to accept a ll subscriptions for which Treasury Notes of Series C-1936, maturing
April 15, 1936, are tendered in payment and accepted.
II.
1.
DESCRIPTION OF NOTES
The notes w ill be dated March 16, 1936, and. w ill bea.r interest from
that date at the rate of l~ l/2 percent per annum, payable on a semiannual basis
on September 15, 1936, and. thereafter on Mauch 15 and September 15 in each year.
They w ill raa.ture March 15, 1941, andt w ill not be subject to ca.ll for redemption
prior to maturity.
2.
The notes shall be exempt, both as to prin cipal and interest, from a ll
taxation (except estate or inheritance ta„xes, or g ift taxes) now or hereafter
imposed by the United States, any Sta.te, or any#of the possessions of the
United States, or by any local taxing authority*
3.
The notes w ill he accepted at par during such time and under such rules
and regulations as shall he prescribed or approved by the Secretary of the
Treasury in payment of income and profits taxes payable at the maturity of the
notes.i
4.
The notes w ill be acceptable to secure deposits of public moneys, but
w ill npt bear the circulation p rivileg e .
5.
Bea,rer notes with interest coupons attached w ill be issued in denomina.-
tions of $100, $500, $1,000, $5,000, $10,000 and $100,000.
The notes w ill not
be issued in registered form,
III.
1.
SUBSCRIPTION .AND ALLOTMENT
Subscriptions w ill be received at the Federal Reserve banks and branche
and at the Treasury Department, Washington,
Banking institutions generally w ill
hcandle applications for subscribers, but only the Federal Reserve banks and the
Treasury Department are authorized to act as o ffic ia l agencies.
Gash subscrip
tions from incorporated banks and trust companies for their own account w ill be
received without deposit but w ill be restricted in each case to an amount not
exceeding one-half of the combined capital and surplus of the subscribing bank
or trust company*
Cash subscriptions from a ll others must be accompanied, i f
for more than $5,000, by payment of $5,000 or 5 percent of the amount of notes
applied for, whichever is the greater; and, i f for $5,000 or le ss, by payment
in f u ll.
The Secretary of the Treasury reserves the right to close the books
as to any or a ll subscriptions or classes of subscriptions a„t any time without
notice,
2.
The Secretary of the Treasury reserves the right to reject any sub
scription, in whole or in part, to a llo t less than the amount of notes applied
for, to make allotments in f u ll upon applications for smaller amounts and to
make reduced allotments upon, or to reject, applications for langer amounts,
- 3 or to adopt any or a ll of said methods or such other methods of allotment "and.
cla ssifica tio n of allotments as shall he deemed by him to he in the public in
terest; and his action in any or a ll of these respects shall he fin a l.
Subject
to these reservations, cash subscriptions for amounts up to and including $5,COO
w ill he given preferred allotment, and cash subscriptions for amounts over
$5,000 w ill he allotted on an equal percenta„ge ba.sis, hut not less than the
maximum preferred allotment; and subscriptions in payment of which Treasury Notes
of Series C-1936 are tendered w ill he allotted in f u ll.
Allotment notices w ill
he sent out promptly upon allotment, and the basis of the allotment w ill he
publicly announced.
IV.
1.
PAYMENT
Payment at par and accrued interest, if any, for notes allotted on ca.sh
subscriptions must he ma.de or completed on or before March 16, 1936, or on la ter
allotment.
In every cane where payment is not so completed, the payment with
application up to 5 percent of the amount of notes applied for shall, upon
declaration ma.de by the Secretary of the Treasury in his discretion, he forfeited
to the United States, • Any qualified depositary w ill he permitted to make payment
by credit for notes allotted to it for it s e lf and it s customers up to any amount
for which it shall he qualified in excess of existing deposits, when so notified
by the Federal Reserve bank of it s d is tric t.
Treasury Notes of Series C-1936,
maturing A pril 15, 1936, w ill he accepted at par in payment for any notes sub
scribed for and allotted and such payment should be made when the subscription
is tendered,
Coupons dated A pril 15,' 1936, must be attached to the notes when
surrendered, and arcrued interest from October 15, 1935, to March 16, 1936,
($12,01844 per $1,000),
will
be paid following acceptance of the notes.
V.
1.
GENERAL PROVISIONS
As fis c a l agents of the United. Stales, Federal Reserve banks are author
ized and. requested, to receive subscriptions, to make allotments on the basis
- 4 -
and up to the amounts indicated, “by the Secretary of the Treasury to the Federal
Reserve "banks of the respective d is tric ts , to issue allotment notices, to re
ceive payment for notes allotted, to make delivery of notes on fu ll-p a id
subscriptions a llo tte d ,_and they may issue interim receipts pending delivery
of the>definitive notes,
24
The Secretary of the Treasury may at e.ny time, or from time to time,
prescribe supplemental or amendatory rules and regulations governing the offer
ing, which w ill be communicated promptly to the Federal Reserve banks,
HENRY MORGENTHAU, JR.,
Secretary of the Treasury,
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday^ March 3» 1936«
3/2/36
Press Service
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $50,000,000, or thereabouts, of 278*day
Treasury bills, dated March 4, 1936, and maturing December 2,
1936, which were offered on February 28, were opened at the
Federal Reserve banks on March 2*
The total amount applied for was $109,838,000, of efoich
$50,010,000 was accepted. The accepted bids ranged in price
from 99.950, equivalent to a rate of about 0*066 percent per
annum, to 99.928, equivalent to a rate of about 0.095 percent
per annum, on a bank discount basis. Only part of the amount
bid for at the latter price was accepted. The average price
of Treasury bills to be issued is 99.937 and the average
rate is about 0.084 percent per annum on a bank discount
basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 3, 1936»________
3-2-36.
Press Service
No. 6-93
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury b ills , dated
March 4, 1936, and maturing December 2, 1936, which were offered on February
28, were opened at the Federal Reserve banks on March 2.
The total amount applied for-ysas ;$109,838,000; of which $50,010,000
was accepted.
The accepted bids ranged in price from 99.950, equivalent
to a rate of about 0.066 percent per annum, to 99.928, equivalent to a rate
of about 0.095 percent per annum, on a bank discount basis.
the amount bid for at the la tte r price was accepted;
Only part of
The average price of
Treasury b ills to be issued is 99.937 and the average rate is about 0.084
percent per annum on a bank discount basis;
ooOoo
TREASURY
WASHINGTON
FOB RELEASE, MCRNING NEWSPAPERS,
Tuesday. March 3 . 1956»
.
P r e s s S e rv ic e
L - Ci ^
V S ?5 6
S e c r e ta r y o f th e T re a su ry Morgwtthau announced Xaet n ig h t t h a t
th e s u b s c rip tio n hooka f o r th e c u r r e n t o f f e r in g o f 8 * 3 /4 P e rc e n t •freasury
Bond» o f 1 9 4 8 -5 1 and o f 1 - 1 / 2 p e rc e n t T reasu ry N otes o f S e rie a A -1941
c lo s e d a t th e c lo s e o f b u sin eea Monday, March 2 , 1 9 3 6 , f o r th e r e c e i p t o f
cash s u b s c r ip tio n s .
Oarii s u b s c rip tio n « f o r e i t h e r is s u e p laced in th e m a il b efo re
\ t o vc lo c k m id n ig h t, Monday, March 2 , w i l l be co n sid ered a s haying been
e n te re d b efo re the c lo s e o f th e s u b s c rip tio n books.
The s u b s c rip tio n books f o r both i s s u e s w i l l rem ain open u n t i l
f u r th e r n o t i c e f o r th e r e c e i p t o f s u b s c rip tio n « in payment of w hich Treasury
B o te s o f S e r i e s C-X9S6, m atu rin g A p ril 1 5 , 1 9 8 6 , a r e te n d e re d .
Announcement o f the amount o f caah subscriptions sad the b ases
o f a llo tm e n t w il l probably be made on Thursday, March 8*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, March 3, 1936.________
3—2—36,
Press Service
No, 6-94
Secretary of the Treasury Morgenthau announced la st night that the
subscription hooks for the current offering of 2-3/4 percent Treasury Bonds
of 1948-51 and of 1-1/2 percent Treasury Notes of Series A-1941 closed at
the close of business Monday, March 2, 1936, for the receipt of cash
subscriptions.
Cash subscriptions for either issue placed in the mail before 12 o’ clock
midnight, Monday, March 2, w ill be considered as having been entered before
the close of the subscription books.
The subscription books for both issues w ill remain open u n til further
notice for the receipt of subscriptions in payment of which Treasury Notes
of Series C-1936, maturing April 15, 1936, are tendered.
Announcement of the amount of cash subscriptions and the bases of
allotment w ill probably be made on Thursday, March 5,
ooOoo
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday* March 4* 1936*
3/3/36
--- -- ---------
Press Service
/„_ 4 <f
a '
Secretary of the Treasury Morgenthau announced last night
that the subscription books for the current offering of 2-3/4
percent Treasury Bonds of 1948-61 and of 1-1/2 percent Treasury
Notes of Series A-1941 will dose at the close of business
Thursday, March 5, 1936, for the receipt of subscriptions in
payment of which Treasury Notes of Series C-1936, maturing
April 16, 1936, are tendered* The subscription books for
both issues closedon Monday, March 2, for the receipt of cash
subscriptions*
Exchange subscriptions for either issue, in payment of
wfaioh Treasury Notes of Series C-1936 are tendered, if placed
in the mail before 12 o’clock midnight Thursday, March 6,
dll be considered as having been entered before the close
of the subscription books»
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday, March 4, 1936.______
3/3/36
Press Service
No, 6-95
Secretary of the Treasury Morgenthau announced last night that the sub
scription books for the current offering of 2-3/4 percent Treasury Bonds of
1948-51 and of 1-1/2 percent Treasury Notes of Series A-1941 w ill close at the
close of business Thursday, March 5, 1936, for the receipt of subscriptions in
payment of which Treasury Notes of Series C-1936,- maturing A pril 15, 1936, are
tendered.
The subscription books for^both issues closed on Monday, March 2,
for the receipt of cash subscriptions.
Exchange subscriptions for either issue,- in payment of which Treasury Notes
of Series C-1936 are tendered, i f placed in the mail before 12 o1clock midnight
Thursday, March 5, w ill be considered as having been entered before the close of
the subscription books.
ooOoo-
m a w & m sm m
fc&shinr.ton
i?0«4 Xiv4-ii»>X#XJSfiii £iX*i#Ciiti£>is
Press Serfici
Mo* €f*»
Secretary Morgenth&u announced today that he had authorised
the federal Beserve Bank of Me» fork, as fiscal agent of the United
States, to purelitiae
Bank of Canada-, in amounts? specified
by the Treasury Dep&rtffieat, silver newly
of Canada*
m*««»OU QmwW»»
,.. „
s j^
U
c
■uin&d within
the Dominion
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
February 2 , 1956.
Press Service
No. 6-
Secretary Morgenthau announced today that he had authorized the
Federal Reserve Bank of New York, as
fiscal agent of the Trftn rtiry
•StotU
Department,to purchase from the Bank of Canada, in amounts IBHfltt
specified by the Treasury Department, silver newly mined within the
Dominion of Canada.
TREASURY DEPARTMENT
Washington
Press Service
No* 6-?96
POR IMMEDIATE RELEASE
Wednesday. March 4, 1936.
Secretary Mo'rgenthau announced today that he had authorized the
Federal Reserve Bank of New York, as fiscal agent of the United States,
to purchase through the Bank of Canada, in amounts specified "by the
Treasury Department, silver newly mined within the Dominion of Canada.
— 0O 0—
TREASURY B F I A W
msmìmm
FOR IMMEDIATE RELEASE,
F r id a y . Miroh 6 , 1 9 3 6 .
P r e s s B a ra le «
S e c r e ta r y o f th e T reasu ry Morgentheu today announced the su b a crip t i o n f ig u r e s and th e b a se s o f a llo tm e n t f o r th e cash o f f e r in g o f 6M6/4 p er
c e n t T reasu ry Bonds o f 1 9 4 8 -5 1 and o f 1 -1 /® p e rc e n t T reasu ry n o te s o f S e rie s
A -1 9 4 1 »
R e p o rts r e c e iv e d from th e F e d e ra l R eserve banks shoe t h a t su b scrip
t i o n s f o r th e cash o f f e r in g o f T reasu ry bonds, which « a s f o r £ 6 5 0 ,0 0 0 ,0 0 0 , or
th e r e a b o u ts , a g g re g a te $ 5 ,1 0 6 ,0 0 0 ,0 0 0 »
S u b s c rip tio n s in (m ounts up t o and
in clu d in g # 5 ,0 0 0 « e r e a l l o t t e d in f u l l send th o se in amounts o v e r # 5 ,0 0 0 « e re
a llo tte d
p e r c e n t , but not l o s e th an $ 5 ,0 0 0 on any one s u b s c r ip tio n .
F o r th e ea<& o f f e r in g of T reasu ry n o t e s , which « a s f o r # 6 0 0 ,0 0 0 ,0 0 0 ,
o r th e re a b o u ts , s u b s c rip tio n s a g g re g a te over $ 3 ,3 5 3 ,0 0 0 ,0 0 0 «
oadh su b scrip
t i o n s in amounts up t o end in clu d in g # 5 ,0 0 0 « e r e a l l o t t e d in f u l l and those
in amounts over $ 8 ,0 0 0 « e re a l l o t t e d 1 $ p e r c e n t , but n ot l e s s th an $ 5 ,0 0 0 on
any one su b s c rip tio n »
The s u b s c rip tio n books f o r both is s u e s c lo se d l a s t n i g h t , P arch 5 ,
f o r th e r e c e i p t o f exchange s u b s c rip tio n s in payment o f w hich T reasu ry Rote»
o f S e r i e s 0 - 1 9 3 6 , m atu rin g A p ril 1 5 , 1 9 3 6 , were te n d e re d .
P re lim in a ry reports
in d ic a te t h a t p r a c t i c a l l y a l l o f th e m atu rin g n o te s w i l l be exchanged f o r the
new i s s u e s , and t h a t about 9 0 p e rc e n t o f th e exchanges a r e f o r th e bonds.
F u rth e r d e t a i l s a s to s u b s c rip tio n s and a llo tm e n ts w i l l be ann«*nced
when f i n a l r e p o r t s a r e r e c e iv e d from the F e d e ra l R eserve b eak s.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, March 6, 1936*
Press Service
No. 6-97
Secretary of the Treasury Morgenth.au today announced the subscription
figures and the bases of allotment for the cash offering of 2-3/4 percent
Treasury Bonds of 1948-51 and of 1-1¡2 percent Treasury Notes of Series A-1941«
Reports received from the Federal Reserve banks show that subscriptions
for the cash offering of Treasury bonds, which was for $650,000,000, or there
abouts, aggregate $5,106,000,000.
Subscriptions in amounts up to and including
$5,000 were allotted in full and those in amounts over $5,000 were allotted 13
percent, but not less than $5,000 on any one subscription.
For the cash offering of Treasury notes, which was for $600,000,000, or
thereabouts, subscriptions aggregate over $3,353,000,000.
Cash subscriptions in
amounts up to and including $5,000 were allotted in full and those in amounts over
$5,000 were allotted 18 percent, but not less than $5,000 on any one subscription.
The subscription books for both issue's closed last night, March 5, for the
receipt of exchange subscriptions in payment of which Treasury Notes of Series
C-1936, maturing April 15, 1936, were tendered.
Preliminary reports indicate
that practically all of the maturing notes will be exchangedifor the new issues,
and that about 90 percent of the exchanges are for the bonds.
Further details as to subscriptions and allotments will be announced when
final reports are received from the Federal Reserve banks.
ooOoo
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
_________
FEBRUARY 1956_______________________
Receiverships:
Date of
Failure:
Per Cent
Total
Returns
to all
Creditors:
Per Cent
Dividends
Paid
Unsecured
Depositors
-072,346.00
210,871.00
154,276.00
97,066.00
-082.87
63.62
91.32
30.01
-072.49
20.55
75.97
10.115
5—5—31
12-21-31
7-2-31
9-5-30
6-4-26
117,895.00
224,336.00
154,726.00
207,315.00
423,874.00
89.12
77.97
97.51
65.7
67.12
75.76
50.68
96.88
63.13
41.52
1-29-32
5-20-32
11-3-30
117,395.00
585,645.00
143,354.00
66.01
100.00
89.98
First
First
State
First
First
National
National
National
National
National
Bank,
Bank,
Bank,
Bank,
Bank,
Addison, Pennsylvania
Kingston, Tennessee
Idabel, Oklahoma
Gig Harbor, Washington
Frederic, Wisconsin
1-28-31
12-24-31
4-19-30
8-13-33
11-17-31
First
First
First
First
First
National
National
National
National
National
Bank,
Bank,
Bank,
Bank,
Bank,
Terra Bella, California
Victorville, California
Elliott, Iowa
Burt, Iowa
Jonesboro, Arkansas
First National Bank, Columbus, Montana
The National City Bank, Tampa, Florida 1/
*‘irst National Bank, Elgin, Nebraska
Total
Disbursements
including
Offsets Allowed:
$
1/ Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation.
32.4
116.6368
81.00
ities.
Unsecured depositors received dividends amounting to 81 per cent of
their claims.
Dividend payments during February, 1936, by all receivers of insolvent na
tional banks to the creditors of all active receiverships aggregated |6,015,518.01
Dividend payments to the creditors of all active receiverships from October
31, 1934, the date of the Comptroller’s last Annual Report to Congress, to Feb
ruary 29, 1936, aggregated $154,675,415.00.
- 3 -
The First National Bank of Burt, Iowa, in receivership September 5, 1950;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $207,315.00, which represented 65.7 per cent of total liabilities.
Unsecured depositors received dividends amounting to 65.13 per cent of their
claims.
The First National Bank of Jonesboro, Arkansas, in receivership June 4,
1926; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $423,874.00, which represented 67.12 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 41.52 per cent of
their claims.
The First National Bank of Columbus, Montana, in receivership January 29,
1932; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $117,395.00, which represented 66.01 per cent of total liabil
ities.
Unsecured depositors received dividends amounting to 52.4 per cent of
their claims.
The National City Bank of Tampa, Florida, in receivership May 20, 1952,
the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment
against the stockholders to cover a deficiency in the assets sold.
The credi
tor bank, from dividends and other sources, received 100 per cent together with
interest in full amounting to 16.6368 per cent.
Disbursements during receiver
ship, including offsets allowed, aggregated $585,645.00.
a/
The First National Bank of Elgin, Nebraska, in receivership November 3,
1930; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $143,354.00, which represented 89.98 per cent of total liabil-
2
The First National Bank of Gig Harbor, Washington, in receivership August
15, 1955; disbursements, including offsets allowed, to depositors and other
creditors aggregated #154,276.00, which represented 91.52 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 75.97 per
cent of their claims.
The First National Bank of Frederic, Wisconsin, in receivership November
17, 1951; disbursements, including offsets allowed, to depositors and other
creditors aggregated $97,066.00, which represented 50.01 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 10.115 per
cent of their claims.
The First National Bank of Terra Bella, California, in receivership May
5, 1951; disbursements, including offsets allowed, to depositors and other
creditors aggregated $117,895.00, which represented 89.12 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 75.76 per
cent of their claims.
The First National Bank of Victorville, California, in receivership Decem
ber 21, 1951; disbursements, including offsets allowed, to depositors and
other creditors aggregated $224,536.00, which represented 77.97 per cent of
total liabilities.
Unsecured depositors received dividends amounting to 50.68
per cent of their claims.
The First National Bank of Elliott, Iowa, in receivership July 2, 1931;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $154,726.00, which represented 97.31 per cent of total liabilities.
Unsecured depositors received dividends amounting to 96.88 per cent of their
claims.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Press Service
The Comptroller of the Currency, J. F. T. 0*Connor, today announced the
completion of the liquidation of 13 receiverships during February, 1936, mak
ing a total of 210 receiverships finally closed or restored to solvency since
his last Annual Report to Congress dated October 31, 1934*
Total disbursements,
including offsets allowed, to depositors and other creditors of these 210 in
stitutions, exclusive of the 12 receiverships restored to solvency, aggregated
$52,045,611.00, or an average return of 72.83 per cent of total liabilities,
>.
while unsecured depositors received dividends amounting to an average of 60.34
per cent of their claims.
ihe First National Bank of Addison, Pennsylvania, in receivership January
28, 1931, the liabilities of the institution having theretofore been assumed
by another bank.
The receiver was appointed for the purpose of completing un
finished liquidation.
There were no collections or disbursements by the re
ceiver.
The First National Bank of Kingston, Tennessee, in receivership December
24, 1931; disbursements, including offsets allowed, to depositors and other
creditors aggregated $72,346.00, which represented 82.87 per cent of total li
abilities.
Unsecured depositors received dividends amounting to 72.49 per cent
of their claims.
The State National Bank of Idabel, Oklahoma, in receivership April 19, 1930;
disbursements, including offsets allowed, to depositors and other creditors ag
gregated $210,871.00, which represented 63.62 per cent of total liabilities. Un
secured depositors received dividends amounting to 20.55 per cent of their
claims.
t>
TREASURY DEPARTMENT
«
Washington
EOR RELEASE, MORNING- NEWSPAPERS,
Monday. March 9, 1936.__________
3—6—36.
Press Service
No. 6-98
The Comptroller of the Currency, J.P.T. O ’Connor, today announced thb com
pletion of the liquidation of 13 receiverships during Eehruary, 1936, making a
total of 210 receiverships finally closed or restored to solvency since his last'
Annual Report to Congress dated October 31, 1934.
Total disbursements, including
offsets allowed, to depositors and other creditors of these 210 institutions,
exclusive of the 12 receiverships restored to solvency, aggregated $52,045,611.00,
or an average return of 72.83 per cent of total liabilities, while unsecured
depositors received dividends amounting to an average of 60.34 per cent of their
claims.
The First National Bank of Addison, Pennsylvania, in receivership January 38,
1931, the liabilities of the institution having theretofore been assumed byanother bank.
The receiver was appointed for the purpose of completing un
finished liquidation.
There was no collections or disbursements by the receiver.
The First National Bank of Kingston, Tennessee, in receivership December 24,
1931; disbursements, including offsets allowed, to depositors and other creditors
aggregated $72,346.00, which represented 82.87 per cent.of total liabilities.
Unsecured depositors received dividends amounting to 72.49 per cent of their
claims.
The State National. Bank of Idabel, Oklahoma, in receivership April 19, 1930;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $210,871.00, which represented 63.62 per cent of total liabilities.
Unsecured depositors received dividends amounting to 20.55 per cent of their
claims.
■
'
-
2-
The First national Sank of Gig Harbor, Washington, in receivership August 13,
1933; disbursements, including offsets allowed, to depositors and other creditors
aggregated $154,276.00, which represented 91.32 per cent of total liabilities,
Unsecured depositors received dividends amounting to 75.97 per cent of their claims
The First National Bank of Frederic, Wisconsin, in receivership November 17,
1®31; disbursements, including offsets allowed, to depositorsand other
aggregated $97,066.00,which represented 30*01 per cent of total liabilitaefc
Tfh*~
secured depositors received dividends amounting to 10.115 per cent of their claims,.
.T^e First National Bank of Terra B ella, California, in receivership May 5,
1931; disbursements, including offsets allowed, to depositors and other creditors
aggregated $117,895.00, v/hich represented 89.12 per cent of total liabilities.
Un
secured depositors received dividends amounting to 75.76 per cent of their claims,
Th© First National Bank of Victorville, California, in receivership Decembbl? v
21, 1931; disbursements, including offsets allowed, to depositors and other cre4^%*‘
ors aggregated $224,336.00, v/hich represented 77.97 percent of total liabilities,# ,
Unsecured depositors received dividends amounting to 50.68 percent of their claims*
The First National Bank of Elliott, Iowa, in receivership July 2, 1931; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$154,726.00, which represented 97.31 per cent of total liabilities.
Unsecured
depositors /received dividends amounting to 96.88 percent of their claims.
The First National Bank of Burt, Iowa, in receivership September 5, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $207,315,00, which represented 65,7 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 63.13 per cent of their claims.
The First National Bank of Jonesboro, Arkansas, in receivership June 4, 1926;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $423,874,00, which represented 67.12 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 41.52 per cent of their claims.
The First National Bank of Columbus, Montana, in receivership January 29, 1932j
disbursements, including offsets allowed, to depositors and other creditors
t(
aggregated $117,395.00, which represented 66.01 per cent of total liabilities.
Unsecured depositors received dividends amounting to 32.4 per cent of their claims.
The National City Bank of Tampa, Florida, in receivership May 20, 1932;
the liabilities of the institution having theretofore been assumed by another bank.
The receiver was appointed for the purpose of collecting an assessment against the
stockholders to cover a deficiency in the assets sold.
The creditor bank, from
dividends and other sources, received 100 per cent together with interest in full
amounting to 16.6368 per cent. Disbursements during receivership, including offsets
allowed, aggregated $585,§45.00.
The First National Bank of Elgin, Nebraska, in receivership November 3, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $143,354.00, which represented 89.98 per cent of total liabilities.
Unsecured
~4~
depositors received dividends amounting to 81 per cent of their claims*
Dividend payments during February, 1936, by all receivers of ihsolvent
national banks to the creditors of all active receiverships aggregated
$6,013,518,00.
Dividend payments to the creditors of all active receiverships from
October 31, 1934, the date of the Comptrollers last Annual Report to Congress,
to February 29, 1936, aggregated $154,675,415.00.
I
INSOLVENT NAPIORAL BANKS LIQUIDATED AND FINALLY CLOSED
OH HESTOHED TO SOLVENCY DURING THE MONTH OF
_______ FEBRUAHY 1 9 3 6 _____________________
gi
Rec eiver ship s:
Date of
Failure:
Total
Disbursements
including
Offsets Allowed:
Per Cent
Total
Returns
to all
Creditors:
Per Cent
Dividends
Paid
Unsecured
Depositor:
First
First
State
Hirst
First
National
National
National
National
National
Bank,
Bank,
Bank*
Bank,
Bank,
Addison, Pennsylvania
Kingston, Tennessee
I&abel, Oklahoma
Gig Harbor, Washington
Frederic, Wisconsin
1-28-31
1 2 -2*4 - 3 1
*4-19-30
8-13-33
11-17-31
-07 2 ,3*4 6 . 0 0
210,871.00
15*4,276.00
97,066.00
-082.87
63.62
91.32
30.01
First
First
First
First
First
National
National
National
National
National
Bank,
Bank,
Bank,
Bank,
Bank,
Terra Bella, California
Victorville, California
Elliott, Iowa
Burt, Iowa
Jonesboro, Arkansas
5-5-31
12-21-31
7-2-31
9-5-30
6 -*4 - 2 6
1 1 7 ,8 9 5 - 0 0
2 2 *4 ,3 3 6 . 0 0
15*4,726.00
2 0 7 ,3 1 5 . 0 0
*^2 3 ,8 7 *4 . 0 0
89.12
77.97
97.31
65.7
67.12
*41.52
1-29-32
5- 2 0 - 3 2
11-3 - 3 0
1 1 7 ,3 9 5 . 0 0
5 8 5 ,6*4 5 . 0 0
1*43 ,3 5 *4 . 0 0
66.01
100.00
89.9s.
32.*4
II6.6368
81.00
First National Bank, Columbus, Montana
The National City Bank, Tampa, Florida
First National Bank, Elgin, Nebraska
if
l]
Receiver appointed to levy and collect stock: assessment covering deficiency
in value of assets sold, or to complete unfi nished liquidation.
-072. U9
20.55
75.97
10.115
75.76
50.68
96.88
63.13
-2-
Press Release No.
No older for stamps will be filled in excess of one
sheet (50 stamps) of each denomination to any one person,
Denominations and value of potato stamps available
for sale are as follows:
Denomination
Y alu e
1 pound
2 pounds
3 pounds
P
w
2-Jtf
4 pounds
5 pounds
10 pounds
15 pounds
2 5 pounds
50 pounds
100
125
150
200
pounds
pounds
pounds
pounds
5#
3p
4
37y
75#
93§#
# 1 .1 2 §
1 .5 0
The t o t a l p r i c e f o r a s e t o f one stamp o f
i s $ 5 .1 8 .
TREASURY DEPARTMENT
Bureau of Internal Revenue
Washington, D. C.
For Inaiavate Release
Mareh % -193&.
Press Release No
The Bureau of Internal Revenue stated today that due to
numerous requests of stamp collectors that they be given an
opportunity to purchase tax-paid potato stamps, the sale of
which was discontinued by the Bureau upon the repeal of the
Potato Control Act of 1935, the Bureau will resume the sale
of such stamps at their face value, solely for philatelic
purposes, until July 1, 1936, unless the present supply is
exhausted prior to that date.
The Bureau of Internal Revenue cannot assume the re
sponsibility for selling so-called "well centered" types of
stamps, nor will it exchange stamps heretofore or hereafter
purchased for better centered stamps.
All requests for such stamps should be directed to the
Collector of Internal Revenue, Room 1002, Internal Revenue
Building, Washington, D. C., and should be accompanied by
cash, certified check or post office money order in an amount
equal to the face value of the stamps plus postage.
Remittances
should be made payable to "Collector of Internal Revenue, Mary
land District".
In the event the purchaser does not include
the necessary registration fee, the stamps will be sent by
ordinary mail at the purchaser’s risk.
TREASURY DEPARTMENT
Bureau of Internal Revenue
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Monday, Merch 9, 1036, ___________
3-7-36*
Press Service
Uo. 6-99
The Bureau of Internal Revenue stated today that due to numerous requests of
stamp collectors that they he given an opportunity to purchase tax-paid potato
stamos, the sale of which was discontinued hy the Bureau upon the reoeal of the
Potato Control Act of 1935, the Bureau will resume the sale of such stamps at their
face value, solely for philatelic purposes, until July 1, 1936, pnless the present
supply is exhausted prior to that
date.
The Bureau of Internal Revenue cannot assume the responsibility for selling
so-called "well centered" types of stamps, nor will it exchange stamps heretofore
or hereafter uurchased for better centered stamps.
All requests for such stamps should be directed to the Collector of Internal
i Revenue, Room 1002, Internal Revenue Building, Washington, D.C., and should be
accompanied by cash, certified check or post office money order in an amount equal
to the face value of the stamps plus postage.
Remittances should be made payable
to "Collector of Internal Revenue, Maryland District",
In the event the "ourchaser
does not include the necessary registration fee, the stamps will be sent by ordinary
mail at the purchaser* s risk.
No order for stamps will be filled in excess of one sheet (50 stamps) of ea.ch
denomination to any one person.
Denominations and value of potato stamps available for sale are as follows:
»%
*r
-2~
Denomina.tions
Value
1 pound
2 pounds
3 /»
4 I
5 »
10
»
15
25
50
100
125
150
"
11
11
»
»
11
200
»
g M
a .-i/sji
2- 1/4/
3/
3- 3/4/
7-1/2/
11-1/4/
18-3/4/
37-1/2/
75/
93-3/4/
$1 .1 2 - 1 /2 /
$1.50
The total price for a set of one stamp of each denomination is $5.18.
00O00
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE: DRESS
March 9, 1936,
RECEIPTS OF SILVER 3Y THE MINTS AND ASSAY OEEICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended March 6, 1936:
Philadelphia...... ,........................ .....
San Francisco........ *........ ..................
Denver
...... .. •
Total for week ended March 6, 1936............. .
Total receipts through March 6, 1936....... .
587,842.72 fine
690,445.59 "
...
9,454.81
1,287,'743.12 **
70,246,532.48 **
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended March 6, 1936:
Philadelphia............ ...................... .
3,146.00 fine
New York .................
1,010.60 n
San Erancisco.... ...,........................ 685.00
11
Denver.... ............
412.42 **
New Orleans.............. ......... ......... .
253.97 11
Seattle........ .................... .............
.....- ~ ~ Total for week endedMarch 6,1936........
5,507.99 11
Total receipts throughMarch 6, 1936................
112,671,933,84 ,T
RECEIPTS OE GOLD BY THE MINTS AMD ASSAY OEEICES:
Week ended March 6, 1936:
Philadelphia...... ...
New York.............. ...
San Erancisco........ .
Denver................ :
. ...
New Orleans................
Seattle.............
Total for week ended March 6,
New
Domestic
I m p o r t s _____ Secondary
5,216,40 $143,986,11 $
1,419,85
.....
868,400,00
41,900.00
63,200.00
.....
165,471.53
51,556.89 1.233.365.44
......
31,168.48
27,928,42
556,695,99
___ _
307,92
.38,928,61
131,398.17
___ _
3,646.37
21,354.49
1936..$1,074,210.70 $325,654.52 1.986.079.45
GOLD RECEIVED BY FEDERAL RESERVE BANES AND THE TREASURER'S OEEICE.:
(Under Secretary*s Order of December 28, 1933)
Received by Federal Reserve Banks: Gold Coin
Week ended March
............. $
13,575.78
Received previously............. 31,200,476,31
Total to March 4................ $31., 214,052.09
Received by Treasurer’s Office.:
Week ended March 4.............. $ Received previously.............
267,456.00
Total to March 4,.............. $
267*456.00
NOTE:
Gold Certificates
$
341,800.00
104,121,300.00
$104,463,100.00
$
$
Gold bars deposited with the New York Assay. Office
in the amount of $200,572,69 previously reported#
3,200.00
2,390,120.00
2,393,320.00
@FedFRASER