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LIBRARY
ROOM 5030
JUN
141972
TREASURY DEPARTMENT
/fi 6
2 7
/
cP\J
11
IMPORTS OF CATTLE UNDER QUOTA PROVISIONS OF THE
CANADIAN TRADE AGREEMENT
During the period January 1 to July 18, 1938
(Preliminary Figures)
:
Cattle
: Under 175
:
pounds
:
(Head)
Cattle 700
pounds
or more
(Head)___
: Dairy Cows
: 700 pounds
:
or more
:
(Head)
2,880
14,4$
TOTAL IMPORTS
Percent of quota
45,661
87»9$
134,323
86»2$
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
lifeline & N. H*
Maryland
Massachusetts
Michigan
Minnesota
Montana
New York
Oregon
Philadelphia
St* Lawrence
Vermont
Washington
17,806
90
2,825
—
410
—
17
374
415
9
7,665
12
—
8,383
4,210
1.946
26,502
3,484
21,198
222
59
562
—
6,207
37,374
854
1,263
2,540
22
177
284
15,339
608
-•
38
—
——
31
—
—
**—
260
1,745
188
44,162
116,087
2,880
407
356
731
5
6,292
6,881
5,063
——
——w
—
1,499
18,236
Total from Canada
FROM MEXICO
Arizona
Elpaso
San Antonio
San Diego
Total from Mexico
t—
— •
10
—
(Prepared by Division of Statistics and Research, Bureau of Customs)
The Commissioner of customs to day announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to July
18, 1956, and the percentage that sueh imports hear to the totals
allowable under the quota provisions*
TREASURY DEPARTMENT
Washington
|
I
FOR IMMEDIATE RELEASE,
Wednesday, July 29, 1936.
Press Service
No* 8*-0
The Commissioner of Customs today announced preliminary figures for the
■
imports of cattle under the quota, provisions of the Canadian Trade Agreement,
for the period January 1 to July 18, 1936, and the percentage that such import
hear to the totals allowable under the quota provisions, as follows:
TOTAL IMPORTS
Percent of'quota
1
1 PROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota.
Montana
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
Cattle
Under 175
pounds
(Head.)
45,661
87.9$
17,806
90
2,825
—
~>
~
~
~
410
—
17
374
415
9
7,665
12
Cattle 700
pounds
or more
(Head)
134,323
86.2$
26,502
3,484
21,198
222
59
562
Dairy Cows
700 pounds
or more
(Head)
2,880
14.4$
$m0
MM
10
608
M
_
38
8,383
4,210
1.946
6,207
37,374
854
1,263
2,540
22
177
284
15,339
44,162
116,087
407
356
731
5
6,292
6,881
5,063
—
M
~
_
—
~
—
—
~
31
—
260
1,745
'188
2,880
I PROM
MEXICO
Arizona
El Paso
San Antonio
San Diego
«
I
Total from Mexico
1,499
18,236
M
—
5ar„
I**
TREASURY DEPARTMENT
Washington
Pjp.es§ Service
No. 8-1
FOR RELEASE, MORNING NEWSPAPERS,
Sunday. August 2. 1936.
8/1/36.
The call by the Procurement Division for sealed bids on obsolete tax
exempt Potato Stamps, to be opened August 10, has been cancelled«
New methods for disposing of the stamps are being worked out and will
be announced shortly*
1 T h e tax exempt potato stamps represent an issue entirely distinct
from the potato
stamps*
As the result of requests from collectors the
Tc^L /■>rt-'i.cP *
potato:^*** stamps were offered for sale to collectors, at face value, for a
limited period, by the Bureau of Internal Revenue.
At the end of the period
the unsold stamps were destroyed.
The tax exempt stamps have no face value expressed in monetary terms.
The denominations of the six stamps represent varying numbers of pounds of
potatoes as tax exempt.
Under the law governing the disposal of surplus property the Depart
ment of Agriculture turned over to the Procurement Division of the Treasury
Department the unused tax exempt stamps.
The Procurement Division, in asking
sealed bids, was following established practice in disposing of property no
longer useful to the Government.
In view of the unique character of this
property, and the interest displayed by stamp collectors, however, it was
determined that other methods would be preferable in this instance.
— oOo—
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday, An,gust 2, 1936.________
8/1/36.
Press Service
No. 8-1
The call by the Procurement Division for sealed bids on obsolete
tax exempt Potato Stamps, to be opened August 10, has been cancelled.
New methods for disposing of the stamps are being worked out and
will be announced shortly.
The tax exempt potato stamps represent an issue entirely distinct
from the tax paid potato stamps.
As the result of requests from collectors
the tax paid potato stamps were offered for sale to collectors, at face
value, for a limited period, by the Bureau of Internal Revenue.
At the
end of the period the unsold tax paid stamps were destroyed.
The tax exempt stamps have no face value expressed in monetary terras.
The denominations of the six stamps represent varying numbers of pounds of
potatoes as tax exempt.
Under the law governing the disposal of surplus property the Depart
ment of Agriculture turned over to the Procurement Division of the Treasury
Department the unused tax exempt stamps.
The Procurement Division, in ask
ing sealed bids, was following established practice in disposing of property
no longer useful to the Government.
In view of the unique character of this
property, and the interest displayed by stamp collectors, however, it was
determined that other methods would be preferable in this instance.
oO-
TRIASORY DKPABTKKNT
WASHINGTON
Press Service
8 /3 /3 6
Acting Secretary o f the Treasury Taylor announced la s t
evening th at the tenders far 150,000,000, or thereabouts,
o f 273-day Treasury b i l l s , dated la g a st 5, 1936, and maturing
la y 5 , 1937, which were offered on July 3 1, were opened a t
the Federal Reserve banks on August 3 .
The to ta l amount applied for was «169,772,000, of which
#50,019,000 was accepted.
The accepted bids ranged in price
from 99.841, equivalent to a rate o f about 0.210 percent per
annua, to 99.818, equivalent to a rate o f 0.240 percent per
annum, on a bank discount b a s is .
Only part of the amcwnt bid
fo r a t the la t t e r price was accepted.
The average p rice o f
Treasury b i l l s to be issued i s 99.825 and the average rate i s
about 0.230 percent per annum on a bank discount b a sis.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Tuesday* August 4, 1936»_______ _
8-3-36
Press Service
No. 8-2
Acting Secretary of the Treasury Taylor announced last evening that
the tenders for $50,000,000, or thereabouts, of 273-day Treasury bills,
dated August 5, 1936, and maturing May 5, 1937, which were offered on
July 31, were opened at the Federal Reserve banks on August 3.
The total amount applied for was $169,772,000, of which $50,019,000
was accepted.
The accepted bids ranged in price from 99.841, equivalent
to a rate of about 0.210 percent per annum, to 99.818, equivalent to a
rate of 0.240 percent per annum, on a bank discount basis.the amount bid for at the latter price was accepted.
Only part of
The average price of
Treasury bills to be issued is 99,825 and the average rate is about 0.230
percent per annum on a bank discount basis.
ooOoo
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
____________________JULY 1936_________________________
Date of
Failure :
Re ceivershins;
First
First
First
First
First
National
National
National
National
National
Bank,
Bank,
Bank,
Bank,
Bank,
Radcliffe, Iowa 1/
1-30-34
White House Station, N. J. 12-30-31
1 -18-32
Osnabrock, North Dakota
7-15-29
Sanford, Florida
1 -11-32
Lost Nation, Iowa
Standard National Bank, Chicago, Illinois
First National Bank, Veedersburg, Indiana
New First National Bank in Farmland, Indiana
First National Bank, Mullins, South Carolina
First National Bank, Villisca, Iowa
6-25-32
3-19-31
7-25-30
12-14-31
10-18-30
City National Bank, Huron, South Dakota 1/
First National Bank, Rockport, Indiana
Sioux National Bank in Sioux City, Iowa
First National Bank, Bruin, Pennsylvania *
Noble County National Bank, Caldwell, Ohio 1/
6-10-24
3-3-33
12— 8-30
9-25-33
4-18-31
1/
Receiver appointed to levy and collect stock assessment
covering deficiency in value of assets sold, or to
complete unfinished liquidation*
•j
Formerly in Conservatorship
Total
Disbursements,
Including
Offsets Allowed:
$
8 ,766.00
594.951.00
57.835.00
1.407.364.00
132,392.00
Per Cent
Total
Returns
to All
Creditors :
100
87.98
60.95
73.66
86.63
272,332.00
182 ,858.00
96,626.00
13 1 .829.00
360,116.00
102.63
99.81
3,089.00
-077.58
61.89
104.99
94.52
208,197.00
2 .529.945.00
93,540.00
53,241.00
62.82
73.48
72.58
Per Cent
Dividends
Paid
Unsecured
Claimants :
105.833
86.0266
59.85
59.333
75.08
107
100
54*85
70.333
71.025
- 053.43
43.65
107.7152
89.96016
Dividend payments during July, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $2,4-22,781.
Dividend payments to the creditors of all active receiverships since the bank
ing holiday of March, 1933* aggregated $733,186,126.
received dividends amounting to 71*025 per cent of their claims*
The City National Bank of Huron, South Dakota, in receivership June 10, 1924,
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 meet a judgment obtained against the bank after its assets were sold
Disbursements during receivership, including offsets allowed, aggregated $3,089,
which represented 100 per cent of total liabilities*
The First National Bank of Rockport, Indiana, in receivership March 3, 1933;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $208,197, which represented 77.58 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 53*43 per cent of their claims.
The Sioux National Bank in Sioux City, Iowa, in receivership December 8, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $2,529,945, which represented 61.89 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 43*65 per cent of their claims.
The First National Bank of Bruin, Pennsylvania, in receivership September 25,
1933; depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 7.7152 per cent.
Total payments to
creditors, including offsets allowed, aggregated $93,540, and the stockholders re
ceived $519 together with the assets remaining uncollected.
The Noble County National Bank of Caldwell, Ohio, in receivership April 18,
1931, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment agains
the stockholders to cover a deficiency in the assets sold.
Disbursements during re
ceivership, including offsets allowed, aggregated $53,241, which represented 94*52
per cent of total liabilities.
bursements, including offsets allowed, to depositors and other creditors aggregated
$1,4-07,364., which represented 73*66 per cent of total liabilities.
Unsecured depos
itors received dividends amounting to 59*333 per cent of their claims.
The First National Bank of Lost Nation, Iowa, in receivership January 11, 1932;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $132,392, which represented 86.63 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 75*08 per cent of their claims.
The Standard National Bank of Chicago, Illinois, in receivership June 25, 1932;
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 7 per cent.
Total payments to creditors,
including offsets allowed, aggregated $272,332, and the stockholders received $23,82$
together with the assets remaining uncollected.
The First National Bank of Veedersburg, Indiana, in receivership March 19, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggregate
$182,858, which represented 99*81 per cent of total liabilities.
Unsecured deposi
tors received dividends amounting to 100 per cent of their claims.
The New First National Bank in Farmland, Indiana, in receivership July 25, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggregate
■4
$96,626, which represented 62.82 per cent of total liabilities.
Unsecured depositors
received dividends amounting to 54-*85 per cent of their claims.
The First National Bank of Mullins, South Carolina, in receivership December 14,
1931; disbursements, including offsets allowed, to depositors and other creditors ag
gregated $131,829, which represented 73*4-8 per cent of total liabilities.
Unsecured I
I
depositors received dividends amounting to 70.333 per cent of their claims.
The First National Bank of Villisca, Iowa, in receivership October 18, 1930; dis I
bursements, including offsets allowed, to depositors and other creditors aggregated
$360,116, which represented 72.58 per cent of total liabilities.
I
Unsecured depositor I
TREASURY DEPARTMENT
Washington
Press Service
FOR RELEASE, MORNING NEWSPAPERS,
¿'3
Comptroller of the Currency, today announced
the completion of the liquidation of 15 receiverships during July, 1936, making
a total of
420
receiverships finally closed or restored to solvency since the
so-called hanking holiday of March, 1933.
Total disbursements, including offsets
allowed, to depositors and other creditors of these
420
institutions, exclusive
of the 42 receiverships restored to solvency, aggregated $118,197,816, or an averI
age return of 74.18 per cent of total liabilities, while unsecured depositors re
ceived dividends amounting to an average of 58.94 per cent of their claims.
The First National Bank of Radcliffe, Iowa, 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.
The creditor bank, from
dividends and other sources, received 100 per cent together with interest in full
amounting to 5.833 per cent.
Disbursements during receivership, including offsets
allowed, aggregated $8,766, and the stockholders received
$410
together with the
assets remaining uncollected.
The First National Bank of White House Station, New Jersey, in receivership
December 30, 1931; disbursements, including offsets allowed, to depositors and other
creditors aggregated $594>951> which represented 87*98 per cent of total liabilities
Unsecured depositors received dividends amounting to 86.0266 per cent of their claim
c
The First National Bank of Osnabrock, North Dakota, in receivership January
18, 1932; disbursements, including offsets allowed, to depositors and other creditor
aggregated $57,835, which represented 60.95 per cent of total liabilities.
Unsecure|
depositors received dividends amounting to 59.85 per cent of their claims.
The First National Bank of Sanford, Florida, in receivership July 15, 1929; dii
V:
TREASURY DEPARTMENT
Washington
POR. RELEASE, MORNING NEWSEAPESS,
^turdag^^dkLgust 8. 1936,_______
8^*5~36#
Prpc?c,
No# 8_ 3
J.E.T* 0*Connor, Comptroller of the Currency, today announced the completion
of the liquidation of 15 receiverships during July, 1936, making a total of 420
receiverships finally closed or restored to solvency since the so-called hanking
holiday of March, 1933.
Total disbursements, including offsets allowed, to
depositors and other creditors of these 420 institutions, exclusive of the 42
receiverships restored to solvency, aggregated $118,197,816, or an average return
of 74.18 per cent of total liabilities, while unsecured depositors received
dividends amounting to an average of 58.94 per cent of their claims.
The First National Bank of Radcliffe, Iowa, 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.
The creditor bank, from
dividends and other sources, received 100 per cent together with interest in full
amounting to 5.833 per cent.
Disbursements during receivership, including offsets
allowed, aggregated $8,766, and the stockholders received $410 together with the
assets remaining uncollected.
The First National Bank of White House Station, New Jersey, in receivership
December 30, 1931; disbursements, including offsets allowed, to depositors and
other creditors aggregated $594,951, which represented 87.98 per cent.of total
liabilities.
Unsecured depositors received dividends amounting to 86,0266 per
cent of their claims.
The First N a tional Bank of Osnabrock, North Dakota, in receivership January
18, 1932; disbursements, including offsets allowed,
to depositors and other credit
ors aggregated $57,835, which represented 60.95 per cent of total liabilities.
Unsecured depositors received dividends amounting to 59.85 per cent of their claims,
The First National Bank of Sanford, Florida, in receivership July 15, 1929;
», ft
disbursements, including offsets allowed,
to depositors and other creditors aggre
gated $1,407,364, which represented 73.66 per.cent of total liabilities*
Unsecured
depositors received dividends amounting to 59.333 per cent of their claims.
The First National Bank of Lost Nation, Iowa, in receivership January 11, 1932;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $132,392, which represented 86.63 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 75.08 per cent of their claims*
The Standard National Bank of Chicago, Illinois, in receivership June 25, 1932;
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 7 per cent.
Total payments to creditors,
including offsets allowed, aggregated $272,332, and the stockholders received
$23,828 together with the assets remaining uncollected*
Hie First National Bank of Veedersburg, Indiana-, in receivership March 19, 1931;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $182,858, which represented 99.81 per cent of total liabilities# .Unsecured
depositors received dividends amounting to 100 per cent of their claims*
The New First National Bank in Farmland, Indiana, in receivership July 25, 1930j
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $96,626, which represented 62.82 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 54.85 per cent of their claims*
The First National Bank of Mullins, South Carolina, in receivership December
14, 1931; disbursements, including offsets allowed, to depositors and other credit
ors aggregated $131,829, which represented 73.48 per cent of total liabilities*
Unsecured depositors received dividends amounting to 70.333 per cent of their claims*
The First National Bank of Villisea, Iowa, in receivership October 18, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggrega
ted $360,116, which represented 72.58 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 71.025 per cent of their claims.
The City National Bank of Huron, South Dakota, in receivership June 10, 1924;the liabilities of the institution having theretofore been assumed by another bp,nk.
The receiver was. appointed for the purpose of collecting an assessment against the
stockholders to meet a judgment obtained against the hank after its assets were sold.
Disbursements, during receivership, including offsets allowed, aggregated $3,089,
which represented 100 per cent of total liabilities.
The First National Bank of Rockport, Indiana, in receivership March 3, 1933;
disbursements, including offsets allowed, to depositors and other creditors aggregated $208,197, which represented 77.58 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 53.43 per cent of their claims.
The Sioux National Bank in Sioux City, Iowa, in receivership December 8, 1930»
disbursements, including offsets allowed,
to depositors and other creditors aggrega
ted $2,529,945, which represented 61.89 per cent of total liabilities,
Unsecured
depositors received dividends amounting to 43.65 per cent of their claims.
The First National Bank of Bruin, Pennsylvania, in receivership September 25,
1933; depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 7.7152 per cent.
Total payments to
creditors, including offsets allowed, aggregated $93,540, and the stockholders
received $519 together with the assets remaining uncollected.
The Noble County National Bank of Caldwell, Ohio, in receivership April 18,
1931, the liabilities of the institution having theretofore been assumed by another
bank.
Hie 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 $53,241, which represented 94.52
per cent of total liabilities.
Dividend payments during July, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $2,422,781,
Dividend payments to the creditors of all active receiverships since the banking
holiday of March, 1933, aggregated $733,186,126.
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
JULY 1936
__________
Date of
Failure:
Receiverships:
First
First
First
First
First
National
National
National
National
National
Bank,
Bank,
Bank,
Bank,
Bank,
Radcliffe, Iowa l/
White House Station, N-®J.
Osnabrock, North Dakota
Sanford, Florida
Lost Nation, Iowa
1-30-3*412-30-31
1-18-32
7-15-29
1-11-32
Standard National Bank, Chicago, Illinois
First National Bank, Veedersburg, Indiana
New First National Bank in Farmland, Indiana
First National Bank, Mullins, South Carolina
First National Bank, Villisca, Iowa
6-25-32
3-19-31
7-25-30
12-1*4— 31
10-18-30
City National Bank, Huron, South Dakota i j
First National Bank, Rockport, Indiana
Sioux National Bank in Sioux City, Iowa
First National Bank, Bruin, Pennsylvania *
Noble County National Bank, Caldwell, Ohio 1/
6-10-2*43- 3~33
12- 8-30
9-25-33
*4-18-31
1J
Receiver appointed to levy and collect stock assessment
covering deficiency in value of assets sold, or to
complete unfinished liquidation.
Formerly in Conservatorship
Total
Disbursements,
Including
Offsets Allowed:
$
8,766.00
59^,951.00
57,335.00
1,U07,36U.00
132,392.00
Per Cent
Total
Returns
to All
Creditors:
100
37.93
60.95
73.66
86.63
Per Cent
Dividends
Paid
Unsecured
Claimants:
105.S33
86.O266
59.35
59.333
75.08
182.858.00
IO2.63
99.31
96,626.00
6 2.82
131,829.00
360,116.00
73 M
72.53
3 ,089.00
208,197.00
-0-
-0-
77.52
53M
272.332.00
2,529,9^5.00
93,5*4-0.00
53,2*4-1.00
61.89
10*4-.99
9^.52
107
100
5^.35
70.333
71.025
U3.65
107.7152
89.96016
IMPORTATIONS OF CATTLE, CREAM AND SEED POTATOES
UNDER QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to July 25, 1936
(Preliminary Figures)
: Dairy Cows
: 700 Pounds
:
Or More
:
(Head)
:
:
:
:
Cream
(Gal.)
White Or
Irish Seed
Potatoes
(Pounds)
6,569
••
20,668,905
45.9#
Cattle
Under 175
Pounds
(Head)
Cattle 700
Pounds Or
More
(Head)
TOTAL IMPORTS
Percent of Quota
48,333
93.1#
137,163
88.0#
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
18,084
90
2,916
431
17
375
514
9
9,585
12
8,620
4,408
1,383
—
26,751
3,482
21,333
222
65
562
6,264
37,633
855
1,328
3,025
22
236
289
15,786
31
—
**
274
1,887
»
262
**
mm
6,479
•
**
1,244,375
86,000
46,444
117,853
3,146
6,569
20,668,905
797
356
731
5
6,729
6,881
5,643
57
—
—
•
»
1,889
19,310
-
-
Total from Canada
3,146
15.7#
—
»
10
—
644
38
—
1JL
—
52
26
—
—
1
-
■
52,500
•*
91,850
180
2,147,915
*
1,778,236
144,510
15,122,759
580
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
(Prepared fcy.ECHsioxTo? Stati
**
’
**
-
The Commissioner
of Customs to day announced preliminary
figures for the imports of cattle, cream and sded potatoes, "under
the quota provisions of the Canadian Trade Agreement, for the period
January 1 to July 25, 1936, and the percentage that such imports
hear to the totals allowable under the quota provisions«
TREASURY DEPARTMENT
|
Washington
POR IMMEDIATE RELEASE,
'
Wednesday, August 5, 1936,
Presq Servipp
jj0 . 8-4
The Commissioner of Customs today announced preliminary figures for the imports
of cattle, cream and seed potatoes, under the quota provisions of the Canadian
Trade Agreement, for the period January 1 to July 25, 1936, and the percentage that
such imports "bear to the totals allowable under the quota provisions*
ï Cattle
: Under 175
ï Pounds
! (Head)
TOTAL IMPORTS
Percent of Quota
PROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
48,333
93.15g
mm
mm
mm
: Cattle 700
• Pounds or
i
More
J
(Head)
137 163
88.0#
—
mm
mm
mm
431
«
» .
—
M
17
375
514
9
9,585
12
—
46,444
117,853
797
356
731
5
6,729
6,881
5,643
57
1,889
19,310
- ,
M
8,620
4,408
mm
mm
mm
mm
—
**
mm
mm
*
White or
Irish Seed
Cream ! Potatoes
(Gal.)! (Pounds)
9
9
•
6,569
-----
52,500
10
~
—
—
-
*•
9 t9
52
mm
mm
mm
mm
mm
38
mm
mm
mm
_
mm
mm
9m
mm
mm
mm
MMM
rnm
mm
mm
«
9m
mm
mm
644
—
~
mm
26
31
—
.
M
~
M
„
274
1,887
~
~
—
mm
mm
mm
mm
mm
mm
TOTAL PROM MEXICO
M
—
mm
mm
mm
15,122,759
580
1,244,375
86.000
6,569
9m mm mm
—
1,778,236
144,510
6,479
PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
91,850
180
2,147,915
1
262
3,146
20,668,905
45.9#
11
*"•
—
1.383
—
—
mm
*•
26,751
3,482
21,333
222
65
562
6,264
37,633
855
1,328
3,025
22
236
289
— - •+
15.786
M
3,146
15.7#
mm
18.084
90
2,916
mm
Dairy Cowsi
700 Pounds*
or more :
(Head)
i
mm mm mm
mm mm mm
20,668,905
OFFICE OF THE COMMISSIONER OF CUSTOMS
August
Sta
1936«
TO MR. FUSSELL
(Room 289 - Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing
imports of cattle, cream and seed potatoes under the quota pro
visions of the Canadian Trade Agreement, during the period from
January 1 to July 25, 1936.
When the tabulation has been mimebgraphed, kindly have 40
copies forwarded to me at Room 415, Washington Building.
«* 2 *•
cameras
calf and kid leather
surgical instruments
if the collector of customs co^erned shall 1». satisfied hy doc«*ntary
evidence that the contract of purchase or other a g r e e d pursuant to
which they were exported from Germany was entered into after July
1936a
(signed) frank Dow
Acting
APPROVED:
Commissioner of Customs*
August 4 # 1936*
(signed) WAT3S® C* TAYIOB.
Acting Secretary of the Treasury.
(pv VAf'V'fvi
jP/î
'
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^
(T j • \i
4.«*«*■»/
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Countervailing Duties— Genian Pro docte
Treasury Decision 48360 not applicable to certain importations
of cameras , calf and kid leather, and surgical instruments.
t r e a s u r y depar t m e n t
OFFICE OF THE COMMISSIONER OF CUSTOMS,
WASHINGTON, D. C.
TO COLLECTORS OF CUSTOMS AND OTHERS CONCERNED:
Deference is made to Treasury Decision 48360, approved June 4, 1936,
in which it was announced that countervailing duties would he Imposed
upon certain German products.
The Department is nos in receipt of official advice to the effect
that for any transactions concluded after July 25, 1936, which cover
the indirect or direct exportation of the following goods to the United
States, vis.:
photographic apparatus, calf and goat leather, and
surgical instruments, the German Government will neither authorize the
use of the scrip and bond procedure nor permit the payment of a public
or private premium or subsidy, nor the employment of other German means
of payment than reichmarks freely convertible into foreign currencies
or free reidfemarlrs
usable within the country.
In view of the foregoing, the provisions of Treasury Decision
48360 shall not apply to direct or indirect imports from Germany of
the following commodities named in that decision:
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, August 5, 1936.
Press Service
No. 8-5
The following Decision by the Commissioner of Customs has been approved
by the Secretary of the Treasury.
(T. D. 48463)
Countervailing Duties— German Products
Treasury Decision 48360 not applicable to certain importations
of cameras, calf and kid leather, and surgical instruments.
TREASURY DEPARTMENT
OFFICE OF THE COMMISSIONER OF CUSTOMS,
WASHINGTON, D.C.
TO COLLECTORS OF CUSTOMS AND OTHERS CONCERNED;
Reference is made to Treasury Decision 48360, approved June 4, 1936, in
which it was announced that countervailing duties would be imposed upon certain
German products.
The Department is now in receipt of official advice to the effect that for
any transactions concluded after July 25, 1936, which cover the indirect or
direct exportation of the following goods to the United States, viz.: Photo
graphic apparatus, calf and goat leather, and surgical instruments, the German
Government will neither authorize the use of the scrip and bond procedure not
permit the payment of a public or private premium or subsidy, nor the employment
of other German means of payment than reichmarks freely convertible into foreign
currencies or free reichmarks usable within the country.
In view of the foregoing, the provisions of Treasury Decision 48360 shall
not apply to direct or indirect imports from Germany of the following commodities
named in that decision:
Cameras
Calf and kid leather
Surgical instruments
-
2
~
if the Collector of Customs concerned shall he satisfied hy documentary evi
dence that the contract of purchase or other agreement pursuant to which they
were exported from Germany was entered into after July 25, 1936.
(signed)
Frank Dow
Acting Commissioner of Customs.
APPROVED:
August 4, 1936.
(signed) Vayne C. Taylor
Acting Secretary of the Treasury.
~o0o>
xmats or biscxues Liuto** abb «ibes m
M
duties collected
m
1*3*
***4*
¿un*
t
i
*
DISTILLE# LÎUÜOR8 (Proof Callona)*
Stook te CttatM« Bondad far«»
htasas at beginning
fatai Ir^ort« (fr«« m û Bat1able)
Ata!labi« for Consumption
Enteres into Ce&suaptida (e)
7,554,0*7
7*4.737
4.58ft.880
784,784
r ostiìì
Stoak in Customs Bondad Warehouses
at and
t
t
Hay
lamo
i M ___ i___
3 .5 9 5 ,1 «
!,*<*,«34
4,858.034
»70,055
fl«««l toar
im.
lui
3, 522, 444
10,17«,«77
23*701,521
3*$»«*2$5
<78*258
524*534
m i
4#514,433
4*435*873
u,n4,fu
9*8<>3*255
.* i'OSirwpin'T
7*478*335
—
***75*3
3,781*874
3,344,0*3
3,522,444
3,701,874
3*322,444
m u * 8S8SS (Liquid Callonayi
Stook in Coatono Bondad faim»
hsueca «t beginning
fatal Sesorta (Erta and Duti&bla)
Available far Coneuaption
Enterad into Consumption (a)
•gpBrloi'fMi Cuota» Cwtodp 1 ^
Sioak in Cuoiano Bended «aro»
house* at end
1*7*3*2*5
»30,157
1,834,082
133**33
».<17.577
25**738
1,828,471
123,108
1,43«
».575.77*
142,533
1,717*3*3
174 ,l4 i
1,340,348
2,447,177
4,188,125
2,521,002
Tyy®i J
2*834,745
2,178,445
4*033,130
2,440,433
71* 54¡r
1,437*3*8
1*783,325
1,540,348
1,437*3«®
1,540,748
SOAmine «IBIS (Liquid Callona)
Stook la Casto®« Bondad «aro»
houaee at beginning
total Inporta (froo asé Dutiable)
Avallabia far Canouaptiea
Enterad lata Consumption (a)
234,481
22,431
*44,314
*30.775
25*377
246 572
4,822
--- je*
231*3*7
18,304
303,831
18,344
*88,032
223,244
5»»«335
>80,141
****PP
337*173
*53.457
530,440
288,483
288,032
224,713
288,031
1 2,443,488 133*333*983
♦ 2 ,220,305
152,314
219*313 3,045,542
5 » .» « ____i i k m . - ».58».057
735.1711,045
3*035*375
»■7»*,55»
I 2 ,4 1 2 ,4 0
$40,342,3*8
*3*335
1
»m m
Stook in Curtan# Bondad «ara»
hautia at «ad
BOTISS COLLECTED 08 »
DI«tilled Liquor«
Still «lato
Sparkling flato
f
total Butioa Collootad ea Liquor«
total Sdiiee Collootad on Oilier
total
Far
m
5,7»7
2,443,007
»57,407
»<».55»
$ 2,71**347
_
234,481
I 2,734,373 132,000,424
os Callaated
..
Callaotod en Liquor«
(n) ineluding mrithdr&oals f«r sbif supplies and dlplonatio u«a.
( 0*8a p « » ,a 4
B y j h j i . - n i M a ^ 'a a ^ ^ n ^ o n ^ a l . n O « » t . i M l Ba,a n il n a h ,
S u n «
§ É Wll'MflTiiiS^
S ] /y
/
(f V
s
»
Imports of distilled liquor during the fiscal year 1936 aggregated
9,803,235 gallons, an increase of 31 percent over the imports of the
preceding year, it was announced hy the Bureau of Customs today.
This increase was due * *
largely to the reduction in the rates
of duty on whiskey, gin and rum under the terms of the trade agreements
with Canada, Netherlands and Haiti, respectively.
As a result of the
increased importations, duties collected on imports of distilled liquors
aggregated $ 3 ^ 3 5 ^ 9 8 9 during the fiscal year 1936, a decrease of only
8 percent from the previous year's collections, flfnfnpUo«4feo fairt-thr*
duties were reduced 50 percent on most of the types of distilled liquor
imported.
As a result of the trade agreement with France, which became
effective on June 15, 1936, the quantity of wines, both still and
sparkling, which paid duties and were released for consumption during
June, greatly exceeded the totals for either the previous month or the
corresponding month of last year.
This was much more noticeable in the
case of champagne, for which the rates of duty were cut in half.
In
the ease of still wines, the reduced rate of duty a p p l i e d ^ o n l y j e r t a i n
types.
The following table shows the quantities of distilled liquors and
wines imported during the month of June, with comparative figures for
May 1936 and June 1935, and with the total for the fiscal years 1935
and 1936,
This table also presents a statement of the duties collected
on distilled liquors and wines as
on all other imported commodities
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, August 5, 1936,
Press Service
No. 8-6
Imports of distilled liquor during the fiscal year 1936 aggregated
9,803,235 gallons, an increase of 31 percent over the imports of the preceding year,
it was announced hy the Bureau of Customs today.
This increase was due largely to the reduction in the rates of duty on
whiskey, gin and rum under the terms of the trade agreements with Canada, Nether
lands and Haiti, respectively.
As a result of the increased importations, duties
collected on imports of distilled liquors aggregated $33,353,989 during the fiscal
year 1936, a decrease of only 8 per cent from the previous year!s collections,
although duties were reduced 50 per cent on most of the types of distilled
liquor
imported.
As a result of the trade agreement with France, which became effective on
June 15, 1936, the quantity of wines, both still and sparkling, which paid duties
and were released for consumption during June, greatly exceeded the totals for
either the previous month or the corresponding month of last year.
This was much
more noticeable in the case of champagne, for which the rates of duty were cut in
half.
In the case of still wines, the reduced rate of duty applied only to certain
types.
The following table shows the quantities of distilled liquors and wines
imported during the month of June, with comparative figures, for May 1936 and June
1935, and with the total for the fiscal years 1935 and 1936.
presents
This table also
a statement of the duties collected on distilled liquors and wines as
compared with the duties collected on all other imported commodities.
IMPORTS OF DISTILLED LlCjJORS AND WINES AND DUTIES COLLECTED THEREON
JUNE, 1936.
June
May
June
Fiscal Year
........
1936
...1935
__ I22£_______
__
1Q7C
DISTILLED LI QJJORS
(Proof Gallons):
Stock in Customs
Bonded Warehouses
at beginning ... 3,964,083 3,595,140
3,588,255
3,522,644
4,514,633
Total Imports (Free
and d u t i a b l e ) ,
724,797 1,262,894
478,258
10,178,877
6,699,879
Available'for Con
sumption ....... 4,688,880 4,868,034
4,066,513
13,701,521
11,214,512
Entered into Con
sumption (a) ....
984,784
890,066
524,536
9,803,255
7,470,339
Stock in Customs
Bonded Warehouses
at e n d ........ 3,701,876 3,964,083
3,522,644
3,701,876
3,522,644
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning ... 1,703,925 1,637,673
1,575,396
1,540,948
1,834,745
Total Imports (Free
and dutiable) ...
130,157
190,798
142,533
2,647,177
2,198,445
Available for Con
sumption ....... 1,834,082 1,828,471
1,717,929
4,188,125
4,033,190
Entered into Con
sumption (.a)....
193,893
123,108
174,168
2,521,002
2,440,699
Stock in Customs
Bonded Warehouses
at e n d ........ 1,637,508 1,703,925
1, d 4 0 ,948
1,637,508
1,540,948
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning....
234,481
230,995
291,327
288,091
337,173
Total Imports (Free
and Dutiable)
12,435
15,577
18,504
223,244
253,467
Available for Con
sumption ...... .
246,916
246,572
309,831
511,335
590,640
Entered into Con
sumption (.a).....
29,995
6,812
18,944
280,161
288,483
Stock in Customs
Bonded Warehouses
at e n d ........
216,919
234,481
288,091
216,919
288.091
DUTIES COLLECTED ON
Distilled Liquors $2,443,007 $2,220,305
$2,469,688
$33,353,989
$36,191,045
Still Wines
167,409
152,916
215,919
3,065,542
3,039,375
_ Sparkling Wines
100,551
39,246
111.372
1.581,093
1.712.568
J-uiai Duties Collect-JM. on ^iQuors
$2,710,967 $2,412,467
$2,796,979
$38,000,624
$40,942,988
including withdrawals for ship supplies and diplomat ic use.
For release
i
JL-.- Mfc.-'
» x * ^ a w
J)
/&■
sieraiag papers
1936.
A*
^ v
<jk*t <f- JKfJl
*~ 7
I#* D, Madland, Chief national Bank Ixaminer for the Twelfth Federal
Reserve district, has tendered his resignation, effective Monday, August
10th,
Mr. Madland has accepted an executive position with the Seattle-
First National Bank of Seattle, Washington*
He has acted as Chief National
Bank Examiner in the Twelfth District for three and a half years, and has
been connected with the Comptroller1« Office since 191^.
The Comptroller of the Currency, J . F. T. 0 *Connor, with the approval
of Henry Morgenthau, Jr,, Secretary of the Treasury, has designated Frank
W, Shanley of San Francisco as Ac ting Chief National Bank Examiner,
Shanley was first appointed a national bank examiner in 1913 •
Mr,
H© has had
experience as an executive officer of a national bank, and for thepast
three years has been assigned to the Twelfth Federal Reserve District as a
national bank examiner, with headquarters in San Francisco,
After successful!)!
passing his examination fojjnational bank examiner in If IB, Mr, Shanley was
offered a more lucrative position with a national bank, which he accepted.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday. August 9, 1936.
______
8-7-36.
Press Service
No. 8-7
L.L. Madland, Chief National Bank Examiner for the Twelfth Federal Reserve
District, has tendered his resignation, effective Monday, August 10th.
Mr.
Madland has accepted an executive position with the Seattle-First National Bank
of Seattle, Washington.
Twelfth
He has acted as Chief National Bank Examiner in the
District for three and a half years, and has been connected with the
Comptrollers Office since 1919.
The Comptroller of the Currency, J.F.T. 0*Connor, with the approval of
Henry Morgenthau, Jr., Secretary of the Treasury, has designated Frank W, Shanley
of San Francisco as Acting Chief National Bank Examiner.
appointed a national bank examiner in 1918,
executive officer of a national bank,
Mr. Shanley was first
He has had experience as an
and for the past three years has been
assigned to the Twelfth Federal Reserve District as a national bank examiner,
with headquarters in San Francisco.
After successfully passing his examination
for national bank examiner in 1918, Mr. Shanley was offered a more lucrative
position with a national bank, which he accepted.
ooOoo
IMPORTS OF DOUGLAS FIR AND WESTERN HEMLOCK UNDER THE QUOTA
PROVISIONS OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to July 25, 1936.
(Preliminary Figures)
Customs Districts
TOTAL IMPOSTS
Percent of Quota
FROM CANADA
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N. H.
Mas sachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Diego
Vermont
Washington
: Mixed Fir : Total Fir
: & Hemlock : & Hemlock
: (Bd. Ft.) : (Bd. Ft.)
Douglas : Western
Fir
: Hemlock
(Bd. Ft.) : (Bd. Ft.)
50,585,062
258,116
—
7,053,430
3,689,669
9,375,173
35,683
8,934,195
42,415
5 ,022,120
9,263,508
19,534
274,995
346,728
6,269,496
19,155,629
18,628,769
45,228
2,958,707
-
..
1,917,754
391,961
95,064
5,072
12,066,800
•«
1,573,968
2,808,672
pp
89,225
161,885
-
15,670,062
•
m
-
-
88,369,460
35.3$
303,344
2,958,707
8,971,184
4,081,630
9,470,237
40,755
21,000,995
42,415
22,266,150
12,072,180
19,534
274,995
435,953
6,431,381
(Dyiapw-r^-tnr-UiTialorr of Statistics and' ReèèAx-ch, BïOrëaü ôî"CTTStôim$t
The Commissioner of Customs today announced preliminary figures
for the imports of Douglas fir and Western hemlock, under the quota
provisions of the Canadian Trade Agreement, for the period from
January 1 to July 25, 1936, and the percentage that such imports
bear to the total allowable under the quota provisions,
as follows:
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesdayt August 11, 1936._______
8-10-36.
Press Service
No. 8-8
The Commissioner of Customs today announced preliminary figures for
the imports of Douglas fir and Western hemlock, under the quota provisions
of the Canadian Trade Agreement, for the period from January 1 to July 25, 1936,
and the percentage that such imports hear to the total allowable under the quota
provisions, as follows:
•
•
Customs Districts
TOTAL IMPORTS
Percent of Qpota
FROM CANADA
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N.H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Diego
Vermont
Washington
î Douglas
:
Pir
î (Bd. Ft.)
50,585,062
258,116
7,053,430
3,689,669
9,375,173
35,683
8,934,195
42,415
5,022,120
9,263,508
19,534
274,995
346,728
6,269,496
Sawed Timber and Lumber
Western
: Mixed Fir :
Hemlock
: & Hemlock :
(Bd. Ft.}
: (Bd. Ft.) :
19,155,629
18,628,769
45,228
*-.i* ■<* **
1 ,917,754
391,961
95,064
5,072
12 ,066,800
------1 ,573,968
2 ,808,672
----- --- . ~ 89,225
161,885
« - - ~ 2, 958, 707
- - « « —
- - x - „ « ~ -
- « - « 15, 670, 062
- _ - - —
- - «
- - —
—
-
Total Fir
& Hemlock
(Bd.Ft.)
88,369,460
35.3$
303,344
2,958,707
8,971,184
4,081,630
9,470,237
40,755
21,000,995
42,415
22,266,150
12,072,180
19,534
274,995
435,953
6,431,381
TREASURY DEPARTMENT
Washington
FOR THE PRESS
August 10, 1936.
RECEIPTS OF SILVER 31 THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended August 7, 1936:
Philadelphia ........... ..........
San Francisco..... ................
Denver ............. ....... ........
Total for week ended August 7, 1936..
Total receipts through August 7, 1936
1,677,296,13 fine ounces
it
578,273,87 h
I
I
w
18.357.47
«
n
2,273,927.47
it
95,549,484.64 II
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended August 7, 1936:
Philadelphia................................... .
New York ... ♦.V . ........................
San Francisco....... ...................
Denver ............
New Orleans..... ......... ....................
Seattle.... .............. ...... .
I Total for week ended August 7, 1936...............
I Total receipts through August 7, 1936........ .. .*
258.00 fine ounces
2,622.65 «
«
2,880.65
112,965,479.01
«
»
»
»
I RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES:
Week ended August 7, 1936:
Imports
Secondary
Philadelphia......... .....
$
20,517,81 $145,040.80
New York ........... ......
6,398,900,00
1 2 2 ,1 0 0 .0 0
San Francisco..............
234,563.90
27.447.55
Denver ............... .....
20,889.07
21,127,32
New Orleans.......... .....
23.674.56
Seattle........... ........
18.232.66
Total for week ended August 7, 1936...$6,674,870.78 $357,622.89
Hew,
Domestic
$
1,060,36
258,900,00
1,989,219,45
662,366,11
47,85
478.720.09
$3,390,313.86
COLD RECEIVED BY FEDERAL RESERVE BANKS AND THE TREASURER»S OFFICE;
(Under Secretary»s Order of December 28, 1933)
*
Received by Federal Reserve Banks:
Week ended August 5 ....... .
Received previously.............
Total to August 5 ...............
■Received by Treasurer’s Office?
Week ended August 5...,...,..
Received previously,.........
Total to August 5............
NOTE :
___
G-old Coin
$
16,139.40
31.669.486.62
$31,685,626.02
Gold Certificates
$
210,638,00
110.020.520.00
$110,231,158.00
$
200.00
$
1 ,000,00
$
268.456.00
268,656.00
$
2.489.Ò2Q.00
2,490,020.00
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
TREASURY department
Washington
FOR
WMSI, I0MIIGNEWSPAPERS,
Tuesday. August 11. 1?368/10/36
Press Service/
\
s
Secretary o f the Treasury Morgenth.au announced la s t evening
that th e tenders for #50,000,000, or thereabouts, o f 273-day |
Treasury b i l l s , dated August 12, 1936, and maturing May 12, 1987
which were offered on August 7 , were opened at the Federal Reserve banks on August 10*
The to ta l amount applied for was f 155,236,000, of which
150,090,000 was accepted.
Except fo r one bid o f #10,000, the
accepted bids ranged in p rice from 99.864, equivalent to a
rate o f about 0.179 percent per annua, to 99.832, equivalent
to a ra te of about 0.222 percent per annum, on a bank discoun
b a s is .
Only part of the amount bid for at the la tte r price
was accepted.
The average price o f Treasury b i l l s to be
issued i s 99.839 and the average rate i s about 0.213 pereen
per annum on a bank discount basis*
TREASURY DEPAR TIGHT
Washington
EOR RELEASE-, MORNING 1GÏÏSPAPERS,
Tuesday;'August 11, 1936.
8-10-36
Press Service
Ho. 8-9
-Secretary of the Treasury Morgenthau announced lest evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury hills, dated
August 13, 1936, and maturing May 12, 1937, which were offered on
August 7, were opened at the Federal Reserve banks on August 10.
The total amount applied for was $155,235,000, of which $50,090,000
was accepted, G x c e p t for one bid of $10,000, the accepted bids ranged
in price from 99.864, equivalent to a rate of about 0.179 oercent per
annum, to 99,832, equivalent to a rate of about 0.222 percent ner annum,
on a bank discount basis.
price was accepted.
Only part of the amount bid for at the latter
The average price of Treasury bills to be issued is
99.839 and the average rate is about 0.213 percent per annum on a. bank
discount basis.
IMPORTS OF COMMODITIES FROM THE PHILIPPINES UNDER
QUOTA PROVISIONS OF PHILIPPINE INDEPENDENCE ACT
During the Period January 1 to July 25, 1956
(Preliminary Figures)
:
S u g a r s
:
Unrefined
: Coconut Oil : Refined
: (Pounds)
:
(Pounds)
: (Pounds)
TOTAL IMPORTS
Percent of Quota
198,761,089 81,148,276
72.5$
44.4$
1,370,941,821
76.5$
:
: Cordage *
: (Pounds)
2,211,354
36.9$
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massaehusett s
Michigan
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Lawrence
St. Louis
San Francisco
Virginia
Washington
Wisconsin
*
8,228,760
2,102,650
21,317,150
34,765,620
101,898,138
5,640,180
24,804,841
3,750
Quota year commended May 1.
17,583,410
499,329
3,744,293
18,312,771
«*
«
6,336,753
34,671,720
8,953,785
9,016,528
7,917
58,674,892
241,590,706
382,313,560
49,076
541,523,758
128,811,599
—
170,662
37,284
44,210
156,105
—
30,496
6,251
25,716
955,409
2,048
79,490
11,371
4,111
13,615
1,837
118,292
345,995
14,677
105,788
87,997
TREASURY DEPARTMENT
Washington
FOR RELEASE, Morning Newspapers,
Wednesday, August 12, 1936.
5ross Service
No. 8-10
u.
The Comnissioner of Customs today announced preliminary
figures for imports of commodities coming into the ttoited
States from the Philippine Islands, under the quota provisions
of the Philippine Independence Act and the Cordage Act of 1935,
for the period January 1 to July 25, 1936, and the percentage
that such imports bear to the totals allowable under the quotas,
as follows:
TREASURY DEPARTMENT
Washington
FOR RELEASE, Morning Newspapers,
Wednesday, August 12,1936.
Press Service
Ho. 8-10
The Commissioner of Customs today announced preliminary figures for im
ports of commodities coming into the United States from the Philippine Is
lands, under the quota provisions of the Philippine Independence Act and the
Cordage Act of 1935, for the period January 1 to July 25, 1936, and the per
centage that such imports hear to the totals allowable under the quotas, as
follows:
IMPORTS OF COMMODITIES FROM THE PHILIPPINES UNDER
QUOTA PROVISIONS OF PHILIPPINE INDEPENDENCE ACT
During the Period January 1 to July 25, 1936
(Preliminary Figures)
:
; :Coconut Oil :
:
(Pounds)
:
TOTAL IMPORTS
198,761,089
Percent of Quota
44.4$
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
8,228,760
Maryland
2,102,650
Massachusetts
21,317,150
Michigan
—
New Orleans
34,765,620
New York
101,898,138
Ohio
Oregon
Philadelphia
5,640,180
—
Puerto Rico
Rhode Island
—
St, Lawrence
St. Louis
San Francisco
24,804,841
Virginia
Washington
3,750
Wi sconsin
*
____ commenced May 1.
*
Quota year
s
I
1
:
u g a r s
Refined
:
Unrefined
(Pounds) :
(Pounds)
81,148,276
72.5$
jm
—
—
17,583,410
499,329
1,370,941,821
76.5$
8,953,785
9,016,528
7,917
—
_
3,744,293
—
18,312,771
—
241,590,706
382,313,560
49,076
541,523,758
—
—
6,336,753
_
128,811,599
—
34,671,720
-
2,211,354
36.9$
170,662
37,284
44,210
156,105
58,674,892
_
—
Cordage *
(Pounds)
_
30,496
6,251
25,716
955,409
2,048
79,490
11,371
4,111
13,615
1,837
118,292
345,995
14,677
105,788
87,997
'IMPORTS OF CATTLE UNDER QUOTA PROVISIONS OF THE
CANADIAN TRADE AGREEMENT
During the Period January 1 to August 1» 1936
(Preliminary Figures)
Customs Districts
TOTAL IMPORTS
Percent of Quota
Cattle
Under 175
Pounds
(Head)
Cattle 700
Pounds
Or More
(Head)
Dairy Cows
700 Pounds
Or More
(Head)__
50,920
139,061
3,241
98.0#_________ 89.5#____________ IS«2#
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N. H.
Maryland
Mas sachusett s
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
Total from Mexico
18,706
90
2,916
•»
438
m
26,808
3,482
21,569
222
66
**
**
10
a.
8,739
4,422
1.528
340
289
16,413
•
672
38
**
—
31
*»
*■*
—
298
1,928
264
48,682
119,288
3,241
1,022
419
792
5
7,089
6,925
5,702
57
2,238
19,773
17
395
514
9
10,896
12
562
6,535
37,772
855
1,328
3,025
22
-
IIWLllW'JWLWMiWIWWWW'WWWWIWWWWIIIdM
-Research^,.»Buras;a of Customs!»
S W /
O
^y
/4?
/ / >15 #
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to August
1,
1936, and the percentage that such imports bear to the totals
allowable under the quota provisions, as follows:
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Wednesday, August 12, 1936.
Press Service
No, 8-1Ì
The Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement,
for the period.January’1 to August 1, 1936,
the percentage that such
'
imports hear to the totals fillowable under the quota provisions, as follows:
TOTAL IMPORTS
Percent of Quota
Cattle
Under 175
Pounds
(Head)
50,920
98.0#
PROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana. & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
18,706
. 90
2,916
— - —
438
~ — —
17
395
514
9
10,896
12
- ~ ~
8,739
4,422
1.528
Total from Canada
48,682
119,288
1,022
419
792
5
7,089
6,925
5,702
57
2,238
19*773
Customs Districts
PROM MEXICO
Arizona
PI Paso
San Antonio
San Diego
Total from Mexico
:
:
:
:
.... .
:
:
:
:
Cattle 700
Pounds
or more
(Head)
139,061
89.3#
26,808
3,482
21,569
222
66
562
- - «
6,535
37,772
855
1,328
3,025
22
340
289
16.413
: Dairy Cows
: 700 Pounds
: or more
: , (Head)
3,241
16.2#
M M M M
10
** w
^
672
38
31
M
M
..
298
1,928
264
3,241
Sörth«»«* Patrol Metriet, with headquarter» at Sarre,
XofttasAy «1X1 «oscilli of the croato» » o o U w U «
district« of no«. 39 (Oregon)* 30 (Washington)»
33 (Montana asá Idaho)* 84 (Dakota)* 33 (Daluth
and Superior), and 37 (Wieconein)*
It le reflected «Hat yon taka the neeeeeafy »tep» to placo
thl« order la effect«
^V i J
^ c
The Comnisstoner of Gusto®*,
Treasury Department»
Washington, D. 0*
Stri
Iffestive September l, 1936» & • castoni« bordar patrol*
now under thè jurisdietioa of mrloas eollectors of castoni«
« t u ho transfer*«*! to tk» Oaatoms Agency Service. The land
OH# water bouadarias of thè United Stati» vili "ho divi&sd iato
feur dietriets and aa office* vili ho designatili to ho la eharge
of thè e o t o n potrei la eaeh of m e four distriets. The foar
offloors la eharge vili ho under U hi immediate supervision of
thè Bepaty CoHnaissloaer in Oharge of tho Oastoas Ag«acy Service»
la Washington» B. 0.
D » foar casto®» potrei districi* «ai tfceir reapective hoadqpiarters vili ho ss follo**:
Northeast Patrol Bistrlet» vith he&dqparto» st Beffalo»
Beo toste* vili cossi st of tho costoso oollectioa
dietrista of Bès. 38 (Mchigea)* 41 (Ohio)* 9 (Beffalo)*
8 (BoChester)* 7 (St. Lawrence), 2 (Teraont), 1 (Maine
vai Beo Hampshire)* 4 (Massachusetts). 5 (modo Island),
6 (Connecticut), 10 (S*v Mete)* H (Jhiladelphia) » 13
(Maryland) » aad 14 (Tlrglnia).
Scrathe&st Patrol Bistri et» vith heoà^rtero et Jacksonville,
florida* vili cessisi of m e casto®» oollectioa dietriet»
of Boa. 15 (Borth Carolina)» 14 (South Carolina), 17
(Georgia) » Il (florida) » li (Behllo) » asd SS (Beo Orlasse).
Southwest Patrol Metrici, vith headqo&rters at 11 Paso* tool,
vili coasist of thè costone oolleotìon distriets of Beo»
SI (SaMme)» 22 (Galwsatoa)* 23 (San Antonio)» 24 (SI Paso),
28 (Arizona)» 26 ( M e Diego), 27 (Ioni Angeles), aad 23
(Ssa frane!soo).
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, August 13, 1936.
Press Service
No. 8-12
Secretary Morgenthau today made public the following order:
"The Commissioner of Customs,
Treasury Department,
Washington, D.C.
Sir:
•
.E^fe^ lve September 1, 1936, the customs border patrols now under the
K ? lC.
tl0n 0V ar-0US 00lleCtors
s t e r n s will be transf“
to t £
will be divided inli0? ’ 'a ? iand(.and water boundaries of the United States
he in c h S j e of t h * J ^ ^ ^ f c t s and an officer will be designated to
° L , “ ° . ee °f the ^customs patrol in each of the four districts.
The four
officers in charge will be under the immediate supervision of the Deputy
Commissioner m Charge of the Customs Agency Service.
will^e a r m “
" PatrQl distri° ts “ d their respective headquarters
Northeast Patrol District, with headquarters at Buffalo
New York will consist of the customs collection districts
of Nos. 33 (Michigan , 41 (Ohio), 9 (Buffalo), 8 Rochester),
I i J Ë La"ren°e)' 2 (Vermont), 1 (Maine and New Hampshire),
4 (Massachusetts), 5 (Rhode Island), 6 (Connecticut), 10
ew York), 11 (Philadelphia), 13 (Maryland), and 14 (Virginia).
Southeast Patrol District, with headquarters at Jacksonville,
lorida, will consist of the customs collection districts
in
(H o rth.Carolina), 16 (South Carolina), 17 (Ceorgia)
18 (Florida), 19 (Mobile), and 20 (New Orleans).
S
Southwest Patrol District, with headquarters at El Paso, Texas,
will consist of the customs collection districts of Nos. 21
(Sabine), 22 (Galveston), 23 (San Antonio), 24 (El Paso),
26 (Arizona), 25 (San Diego), 27 (Los Angeles), and 28
(San Francisco).
"Northwest Patrol District, with headquarters at Havre, Montana,
Will consist of the customs collection districts of Nos. 29
(Oregon), 30 (Washington), 33 (Montana and Idaho), 34
(Dakota), 36 (Duluth and Superior), and 37 (Wisconsin).
in effect.reqUeSt8d that y °U tak® th® neoessarV steps to place this order
Very truly yours,.
(Signed)
EL Morgenthau, Jr,
Secretary of the Treasury1*
C0ÜKÎSR7AILING DUTIES —
GERMAN PRODUCTS
Treasury Deo is ion 48360, 0« an»nded by Treasury Décision 48444 and
Modified by Treasury Deo is ion 48463, not applicable to certain im
portations of the several classes of commodities listed therein.
TREASURY DEPARTMENT,
OIFIGB OF THE COMMISSIONER OF CUSTOMS
WASHINGTON, D. 0.
TO COLLECTORS OF CUSTOMS AND OTHERS CONCERNED:
The Department is in receipt of official advice to the effect
that, with respect to any dutiable merchandise which sill be or
has been exported directly or Indirectly from Germany pursuant to
agreements entered into after August 2, 1936, the German Government
has taken measures to Insure that no scrip or bond procedure was
or will be allowed, no public or private bounty or subsidy was or
will ba paid, and that the usa of no German currency other than
free gold exchange marks or free inland marks was or will be per
mitted*
In view of the foregoing, the provisions of Treasury Decision
48360, as mended by Treasury Decision 48444 and modified by Treasury
Decision 48463, shall not apply to direct or Indirect imports from
Germany of the commodities listed therein If the collector of customs
concerned shall he satisfied by documentary evidence that the contract
of purchase or other agreement pursuant to which they were exported
from Germany was entered into after August 2, 1936» or, in the cases
of cameras, calf and kid leather, and surgical instruments, after
July 25, 1936.
Acting Commissioner of Customs
Approved:
Secretary of the Treasury
XSH/MS 8/14/36
TREASURY DEPARTMENT
O F F IC E
OF
TH E SEC R ETA R Y
W A SH IN G T O N
COMMISSIONER OF
ACCOUNTS AND DEPOSITS
August
6»
1936«
70 MR. GASTON:
During the month, of July* 1936, the following
market traraactions to ok place in Government securities
investment accounts:
Total purchases . . • . • ♦$15,471,700
Total sales . • . . . • » »
5,000
for
TREASURY DEP A R M U T
Washington
August 17, 1936«
MEMORANDUM FOR THE PRESS
RECEIPTS OP STIVER BY THE MUTTS M D ASSApOgllCESi.
(Under Executive Proclamation of December 21, 1933; as amended
Week ended August 14, 1936:
Philadelphia................... .................
3 0 0 ,0 0 0 .6 3 f i n e ounces
3 0 4 ,7 3 5 .5 5
lf
f
1 0 .4 1 1 .7 6
,f
I
$ 1 5 ,1 6 7 .9 4
#
"
9 6 ,1 6 4 ,6 5 2 .5 8
tt
|
San Erancisco ...... •••*...... .............
Denver
...... •••«*••......... .........
Total for week ended August 14, 1936..............
Total receipts through August 14, 1936............
SILVER TP ¿NSFERRED TO UNITED STATESI.
_ _ _ s
(Under Executive Proclamation of August 9, 1934;
Week ended August 14, 1936:
Philadelphia...... ............... ....... ‘g
New York............................ *......... .
San Erancisco ....... ?........................ .
Denver ...... ........... .............. .......
New Orleans................................
Seattle ......................... §•............
TotaJ for week ended August 14, 1936...........
Total receipts through August 14, 1936.........
131.10 fine ounce
1,007.00
11
w
1,138.10
112,966,617.11
n
"
"
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OFFICES:
New
Domestic
Imports
Secondary, _
Week ended August 14, 1936:
Ì37,Ò6~
..$
7,925,08 $154,037,45 $
Philadelphia
55,500,00
.. 5,981,600.00 155,300,00
New York .......................
1,504,563,77
..
564,812.87
30,080,39
San Erancisco
574,056,50
..
54,056.49
19,085,75
Denver ......... » •• •
296.48
,# _____ * * +
*
30,706,70
New Orleans....... *...........
626.536.30 .
_________. ~
8.799.46
Seattle....................... *
!!$6,608,394.44 $398,009.75 $2,761,090.11
Total for week ended August 14,
. . .
GOLD RECEIVED BY THE FEDERAL RESERVE BANKS AND THE TREASURER*^ OFFICE:
(Under Secretary1s Order of December 28, 1933)
Received by Federal Reserve Banks:
Week ended August 12....... •••*
Received previously*..... ...... .
Total to August 12.... .
Received by Treasurers Office:
Week ended August 12..... .
Received previously.
Total to August 12....... .
NOTE;
Cold Coin
13,439,60
31.685.626.02
$31,699,065.62
$
$
$
2 6 8 .6 5 6 .0Ò
2 6 8 ,6 5 6 .0 0
Gold bars deposited with the New York Assay Office
in the amount of $200,572.69 previously reported.
$
6,900.00
P.,490.020.00
2,496,920.00
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Monday, August 17, 1936«
Press Service
o* 8-15
Net market purchases of (Government securities for Treasury investment
accounts for the calendar month of July, 1936, amounted to $15,466,700,
it was announced today.
ooOoo
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Press Servi cello. 8-14
8 /1 4 /3 6 .
The following Treasury Decision has been approved:
-L
TREASURY DEPARTMENT
Fashington
FOR IMMEDIATE RELEASE,
Friday, August 14, 1936.
Press Service
No. 8-14
The following Treasury Decision has heen approved;
COUNTERVAILING DUTIES —
GERMAN PRODUCTS
Treasury Decision 48360, as amend.ed by Treasury Decision 48444 and
modified hy Treasury Decision 48463, not applicable to certain im
portations of the several classes of commodities listed therein.
TREASURY DEPARTMENT,
OFFICE OF THE COMMISSIONER OF CUSTOMS,
WASHINGTON, D. C.
TO COLLECTORS OF CUSTOMS AMD OTHERS CONCERNED;
The Department is in receipt of official advice to the effect
that, with respect to any dutiable merchandise which will be or
has been exported directly or indirectly from Germany pursuant to
agreements entered into after August 2, 1936, the German Government
nas tak en measures to insure that no scrip or bond procedure was or
will be allowed, no public or private bounty or subsidy was or will
be paid, and that the use of no German currency other than free gold
exchange marks or free inland marks was or will be permitted.
In view of the foregoing, the provisions of Treasury Decision
48360, as amended by Treasury Decision 48444 and modified by Treasury
Decision 484o3, shall not apply to direct or indirect imports from
Germany of the commodities listed therein if the collector of customs
concerned sha,ll be satisfied by documentary evidence that the contract
of purchase or other agreement pursuant to which they were exported
from Germany was entered into after August 2, 1936, or, in the cases
of cameras, calf and kid leather, and surgical instruments, after
July 25, 1936.
/s/
FRANK DOF
Acting Commissioner of Customs.
APPROVED;
/s/ JOSEPHINE ROCHE
Acting Secretary of the Treasury.
TREASURY DEPARTMENT
1ASHTNGT0N
FOR RELEASE, MOREIEG OTSPAPIRS,
¡bttfidaau
18/17/36
Press Service
.jgafij________
Acting Secretary of the Treasury Taylor announced la s t
evening that tbs tenders for 150,000,000* or thereabouts,
o f 273-day Treasury b i l l s , dated August 19, 1936, and matur
ing May 19, 1937, which were cf fered on August 14, were
opened at the Federal Reserve banks on August 17.
The to ta l amount applied for was |1 8 2 ,740,000, of which
150,064,000 was accepted.
The accepted b ids ranged in price
from 99.866, equivalent to a rate o f about 0.177 percent per
aimum, to 99.850, equivalent to a rate o f about 0.198 percent
per annum, on a bank discount b a s is .
Only part of th e amount
bid fo r a t the la t t e r price was accepted.
The average price
of Treasury b i l l s to be issued i s 99.853 and th e average rate
i s about 0.194 percent per annus on a bank discount b a sis.
- 3 -
$2>S72>000, showed decreases in the four and twelve month periods of $2,301,000
and $1 ,771 ,000, respectively*
m
percentage of loans and discounts to total deposits on June 30,
was
29.61 ,
in comparison with
29.89
on March k 9
1936,
and
32.71
e
on June
1936,
29, 1935.
-
2
-
The total assets on June 30, 1936, were $29*702,839*000, showing increases
in the four and twelve month periods of $1,U09>820,000 and $ 3 >61+1,77 *+,000,
respectively.
Loans and discounts aggregating $7 >759>1^9>000 showed an increase of
$328,285*000 since March, and an increase of $393*923*000 in the year.
Investments in United States Government obligations direct and fully guaran
teed were $8,1^+7,361+,000, in comparison with $7*785*979*000 on March 1+, 19 3 6 ,
and $7,173*007,000 on June 29, 1935*
Investments in such obligations at the date
of the recent call comprised direct obligations of the United States Government
of $7*072,979*000, obligations of the Beconstruction Finance Corporation of
c
$17^,9^,000, Federal Farm Mortgage Corporation bonds of $336,258,000 and Home
Owners’ Loan Corporation bonds of $863*183*000.
Other bonds and securities held
totaling $U,0 35 >26l ,000 showed increases in the four and twelve month periods of
$ 2 3 2 ,22^,000 and $1+9 1 ,882 ,000 , respectively.
Balances with other banks and cash items in process of collection of
$7>857>233>000, including reserve with Federal reserve banks of $3*520,901,000,
increased $120,1^0,000 and $1,39^>525>000 over the amounts reported as of March
1936, and June 29* 1935* respectively.
Cash in vault of $531*69^*000 in
creased $62,652,000 since March and $126,181,000 in the year.
The book value of capital stock of the active banks on June 30, 19 3 6 , totale
$1,691,375>000, representing a par value of $1,698,251,000.
The latter figure
consisted of Class A preferred stock of $1+23*228,000, Class B preferred stock of
$20,261,000, and common stock of $1,25^,762,000.
Surplus funds of $973,393,000,
undivided profits of $3 ^ 6 »0 39 >000 , reserves for contingencies of $ll+7 >2 1 9 *000,
and preferred stock retirement fund of $ 7 *70 2 ,000 , a total of $1 ,^7 ^,3 5 3 ,000, itr
creased $9^*38^,000 since March and $197,^38,000 in the year.
Bills payable of $2,1+25,000 and rediscounts of $1+1+7,000, a total of
Comptroller of the Currency J. F. T. 0*Connor announced today that the total
deposits of the 5,37** active national hanks in the continental United States,
Alaska, Hawaii and the Virgin Islands of the United States on June 30, 1936, the
date of the last call made for statements of condition, aggregated $26,200,*4-53,000
which is a new high record for national hanks, exceeding hy $1,3*40,998,000, or
5*39 percent, the amount reported as of March *4-, 1936, the date of the previous
high record in deposits of national hanks since the establishment of the system*
The current figures show also that deposits increased $3,682,207,000, or 16*35
percent, over the amount reported as of June 29, 1935» ^he date of the correspond-l
ing call a year ago.
The total deposits on June 30, 1936» consisted of demand and time deposits
of individuals, partnerships, and corporations amounting to $1 1 ,665 *872,000 and
$7»07*J-,5**U*000, respectively, United States Government deposits of $692,527*000,
State, county and municipal deposits of $2,108,*4-86,000, postal savings of
$1 3 7 *376,000 and deposits of other hanks, including certified and cashiers'
checks outstanding, of $**,521,6*18,000.
The time deposits of individuals, partner-|
ships, and corporations include time certificates of deposit of $ 6 6 7 *621,000 and
deposits evidenced hy savings pass hooks of $ 6 ,0 67 *70 ^* 000 , the latter amount
representing 15*101 ,*4-86 accounts.
Postal savings in national hanks on June 30»
1936, showed a decrease of $12,873*000, or 8*57 percent, since March, and a de
crease of $105,**58 ,000, or **3.**3 percent, since June of last year.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday. August 21. 1926.________
8-18-36
Press Service
No. 8-1?
Comptroller of the Currency J.F.T, O ’Connor announced today that the total
deposits of the 5,374 active national "banks in the continental United States,
Alaska, Hawaii and the Virgin Islands of the United States on June 30, 1936, the
date of the last call made for statements of conditien, aggregated $26,200,453,000,
which is a new high record for national "banks, exceeding "by $1,340,998,000, or
5.39 percent, the amount reported as of March 4, 1936, the date of the previous,
high record in deposits of'national "banks since the establishment of the system.
The current figures show
also that deposits increased $3,682,207,000, or 16.35
percent, over the amount reported as of June 29, 1935, the date of the correspond
ing call a year ago.
The total deposits on June 30, 1936, consisted of demand and time deposits of
individuals, partnerships, and corporations amounting to $11,665,872,000 and
$7,074,544,000, respectively, United States Government deposits of $692,527,000,
State, county and municipal deposits of $2,108,486,000, postal savings of
$137,376,000 and deposits of other "banks, including certified and cashiers’ checks
outstanding of $4,521,648,000.
The time deposits of individuals, partnerships,
and corporations include time certificates of deposit of $667,621,000 and deposits
evidenced by savings pass books of $6,067,704,000,
15,101,486 accounts.
the latter amount representing
Postal savings in national banks on June 30, 1936, showed a
decrease of $12,873,000, or 8.57 percent, since March, and a decrease of
$105,458,000, or 43.43 percent, since June of last year.
The total assets on June 30, 1936, were $29,702,839,000, showing increases
ln the four 321(1 tw©lve month periods of $1,409,820,000 and $3,641,774,000,
respectively.
~2~
Loans and discounts aggregating $7,759,149,000 showed an increase of
$328,285,000 since March, and an increase of $393,923,000 in the year#
Investments in United States Government obligations direct and fully guaran
teed were $8,447,364,000, in comparison with $7,785,979,000 on March 4, 1936, and
$7,173,007,000 on June 29, 1935*
Investments in such obligations at the date of
the recent call comprised direct obligations of the United States Government of
$7,072,979,000, obligations of the Reconstruction Finance Corporation of
$174,944,000, Federal Farm Mortgage Corporation bonds of $336,258,000 and Home
Owners* Loan Corporation bonds of $863,183,000*
Other bonds and securities held
totaling $4,035,261,000 showed increases in the four and twelve month periods of
$232,224,000 and $491,882^000, respectively.
Balances with other banks and cash items in process of collection of
$7,857,233,000, including reserve with Federal. Reserve banks of $3,520,901,000,
increased
$120,140,000 and $1,394,525,000 over the amounts reported as of March
4, 1936, and June 29, 1935, respectively.
Cash in vault of $531,694,000 increased
$62,652,000 since March and $126,181,000 in the year.
The book value of capital stock of the active banks on June 30, 1936, totaled
$1,691,375,000, representing a par value of $1,698,251,000*
The latter figure
consisted of Class A preferred stock of $423,228,000, Class B preferred stock of
$20,261,000, and common stock of $1,254,762,000*
Surplus funds of $973,393,000,
undivided profits of $346,039,000, reserves for contingencies of $147,219,000,
and preferred stock retirement fund of $7,702,000, a total of $1,474,353,000,
increased $94,384,000 since March and $197,438,000 in the year#
Bills payable of $2,425,000 and rediscounts of $447,000, a total of
$2,872,000, showed decreases in the four and twelve month periods of $2,301,000
and $1,771,000, respectively.
The percentage of loans and discounts to total deposits on June 30, 1936,
was 29.61, in comparison with 29*89 on March 4, 1936, and 32.71 on June 29, 1935*
ooOoo
â
entrances
WT7MBER OF VESSELS
per cent of
Flnereaseoi
►Net ToTMispe of vessels
Direct from Foreign Ports
Foreign vessels
Domestic vessels
Total
Via Other Domestic Ports with
Residue Cargo to Unlade
Foreign vessels
Domestic vessels
Total
Via Other Domestic Ports to Lade
Foreign vessels
Domestic vessels
Total
17,549
12 087
29^636
16.391
12.547
28,938
:1935-6—
42,328,963
40,585,576 7#1
4«!
21.022,889
21.860.806 —5«?-63,351,85262,446,382
2.4
1,
7,297
6,905
15,427,545
10.014,470
25,442,015
5,419
2,633
8,052
5,283
2,642
7,925
16,975,539
9.192.955
26,168,494
4,180
3,776
6,708,180
13,786,104 13,3
10.615.098 -5,Q_
24,401,202 5.7
16,416,341 2,6
9 t156.596 » .4.
25,572,937 1.6
5,669,3*^5 10.7
.gII g
6,055
5,931
21,724,480
21,624,815
-4.
12.992 13.557
Total Entrances
Foreign vessels
Domestic vessels
Total
Not.:
27,531
40.681
68,212
A minus sign (-) denotes decrease.
25,702
41.350
67,032
2.1
74,732,047
94.721.660
70,788,021
7,1
q^QR.088
-1.6-
,
18
— -
/
Le increased number and net tonnage of foreign vessels enterin,
firect from foreign ports more than offset a decline both in number
1
jj?'
-
aid in net tonnage of domestic vessels so entered*
*rhe rn^lber o: foreign
vessels was 711 per cent and the net tonnage 4*3 per epht greater during
A
1936\than
during the preceding riscal year.
/
Before proceeding on their homeward voyagey^vessels engaged ii forj*
go to some other port than
eign trade
port of first arrivali
either to lade e^rgo destined for abroad* or to discharge the balance^
of their ineorn ing o$rgo.
xhe numbfr of vessels proceeding to other
j
ports both to lade cargKnnd to discharge residue cargo was greater during
the fiscal year 1936 than
ig the previous fiscal year*
such vejss<
are, of course, already ii^ludeaNfith those entering direct from fo^eigb
I
l
/
ports and their number afind tonnage iKsignifieent only as an evidence of
\
the activity of foreign trade.
jroreign vesseli are excluded from carryin^nargoes between ports in
/
\
\ !
the united states and its possessions*
\
/
vessels enteHojg from inter.
cbastal port* and from noncontiguous territory and those carrying bond^
e|& cargoes/coastwise, are therefore, exclusively domestic ves^ls.
I
/
\
Substantial increases appeared in the number and tonnage of vessels
'iDtWT'lWlWwltwl*ijlOWt.S
entered from noncontiguous t
il i J n
coastwise ports declined.
A detailed statement of the number of entrances of vessels for each
of the past two fiscal years and of the increases or decreases in their
net tonnage follows:
>
—2'
The number of vessels entering through the various eustom
houses of the united States aggregated 6s,212 during the fiseal
year of 1936, an Increase of 1*8 per cent over the total for
the preceding fiscal year 167,033),
^
today*
ihe term «entering»* is used by customs officials in a -rnai
?***$ technical sense and refers to the filing of certain specific
documents with the collector of customs within a short time after
the arrival of the vessel at a port*
All vessels, whether of
foreign or domestic registry, arriving in this country direct
from foreign ports are required
to
make entry at a customhouse*
In addition, all foreign vessels plying between American ports
for the purpose either of securing further cargo or of unlading
residue cargo, are required to make entry at each port of call.
American vessels, if registered
foreign trade, or if they
carry any foreign cargo in bond, are likewise required to make
entry at each port of call*
j^LJkotal ^timber of vessels entering direct from foreign
porjfcs during the
ear was 29,636, an increase o
2 *4 per cent over the number of such vesselsfiscal year*
The net
these vessels showed an
previous^year,^ from 62,446,382 during 1935,
..
?«8rir63rfSgTSi6.
CUSTOMS TRANSACTIONS
"
Fiscal years 1935 and 1936
:
Number of Entries
Free consumption entries
Dutiable consumption entries
Warehouse and rewarehouse entries
Mail, baggage and other entries
1935
î
: % of Increase
1936
164,662
284,403
05,765
1,888,219
183,418
324,013
68,929
2,136,594
11.4
13.9
23.6
13.2
2,393,049
2,712,954
13.4
(1 »789 ,153,000
$2,205,911,000
23,3
Number of vessels entering the
United States direct from
foreign ports
28,524
29,600
3.8
Number of automobiles entering
the United States
9,122,672
9,807,700
7,5
41,730,336
44,307,496
6.2
$344,941,758
1,563,561
$886,941,340
1,832,188
12,2
17.2
17.932,364
231021.537
28.4
1364,437,683
f411,795,065
13.0
3,189,818
11.1
$2,413,183,000
13,8
Total entries
value of imports
Humber of persons entering
the United States
Collections by Customs officers
Duties
Other Customs collections
Collections for other
AAVA^rnnAnt.ftl agencies
Total collections
Number of export declarations
Value of exports
2,871,380
$2,120,857,000
2
the total of $2,413,183,000, exceeding that of the fiscal year
1935 hy 13*8 per cent.
The following table presents a statement of the important
customs transactions for the past two fiscal years, together
with percentages of increase:
&
St***“
f
isiness transacted "by tlie Customs Service during tlie
fiscal year 1936 showed a marked increase over that of the previous
fiscal year, it was announced "by the Bureau of Customs today.
The number of entries for the past fiscal year aggregated
2,712,954, wht«teHbs an increase of 13.4 per cent over the fiscal
year 1935.
Of this total there were 324,013 dutiable consumption
entries and 68,929 warehouse entries, representing increases of
13.9 per dent and 23.6 per cent, respectively.
th e a a m h e r ^ ... .
ii
■ e ... ... ......
r^TWlTilv ini Mi
2ko
increase-*»
iiirn-n
i
,^0^900 Vessels entered the(United states direct from foreign
re
ports , as conpared with 28,524 a year ago, wkrctaie an increase of
3,8 per cent.
There was an increase of 7.5 per cent in the number
of automobiles entering the United States and an increase of 6.2
per cent in the number of persons crossing the borders.
Total collections by Customs during the fiscal year 1936
aggregated $411,795,065, an increase of 13 per cent over total
.collections for last fiscal year.
Of this amount $386,941,340
represented duties collected on imports, which is an increase of
12.2 per cent over the duties collected during the fiscal year 1935.
During the fiscal year 1 9 3 6 ^ , 1 8 9 ,818?export declarations**»*
an increase of 11.1 per cent over the number of export declara
tions filed the preceding
year, while the value of exports reached
TREASURY DEPARTMENT
Washington
m
RELEASE, MORNING NEWSPAPERS,
'Thursday. August 20, 1936.______
Press Service
No# 8-18
8-18-36.
Business transacted by the Customs Service during the fiscal year 1936 showed
a marked increase over that of the previous fiscal year, it was announced by the
Bureau of Customs today.
The number of entries for the past fiscal year aggregated 2,713,954, an increase
of 13.4 per cent over the fiscal year 1935.
Of this total there were 324,013
dutiable consumption entries and 68,929 warehouse entries, representing increases of
13.9 per cent and 23.6 per cent, respectively.
Vessels numbering 29,600 entered the United States direct from foreign ports,
as compared with 28,524 a year ago, an increase of 3.8 per cent.
There was an
increase of 7.5 per cent in the number of automobiles entering the United.States and
an increase of 6.2 per cent in the number of persons crossing the borders.
Total collections by Customs during the fiscal year 1936 aggregated
$411,795,065, an increase of 13 per cent over total collections for last fiscal year.
Of this amount $386,941,340 represented duties collected on imports, which is an
increase of 12.2 per cent over the duties collected during the fiscal year 1935.
During the fiscal year 1936 there were filed 3,189,818 export declarations,
l
an increase of 11.1 per cent over the number of export declarations filed the
preceding year, while the value of exports reached the total of $2,413,183,000,
exceeding that of the fiscal year 1935 by 13.8 per cent.
The following table presents a statement of the important customs transactions
for the past two fiscal years, together with percentages of increase:
CUSTOMS TRANSACTIONS
Fiscal years 1935 and 1936
1935
Number of Entries
Free consumption entries
Dutiable consumption entries
Warehouse and rewarehouse entries
Mail, baggage and other entries
Total entries
Value of imports
Number of vessels entering
the United States direct from
foreign ports
Number of automobiles entering
the United States
Number of persons entering
the United States
Collections by Customs officers
Duties
Other Customs collections
Collections for other
Governmental agencies
Total collections
Number of export declarations
Value of exports
1936
$ of increase
164,662
284,403
55,765
1,888,219
183,418
324,013
68,929
2,136,594
11.4
13.9
2S.6
13.2
2,393,049
2,712,954
13.4
52*205,911,000
23.3
$1,789,153,000
28,524
29,600
3.8
9,122,672
9,807,700
7.5
41,730,336
44,307,496
6.2
$344,941,758 $386,941,340
1,563,561
1,832,188
17.932.364
23,021.537
12.2
17.2
28.4
$364,437,683 $411,795,065
13.0
2,871,380
3,189,818
$2,120,857,000 '52,413,183., 000
11.1
13.8
>3The number of vessels entering through the various Custom houses of the
United States aggregated 68,212 during the fiscal year of 1936, an increase of 1.8
per cent over the total for the preceding fiscal year (67,032). today.
The term ’’entering*1 is used by Customs officials in a technical sense and
refers to the filing of oertain specific documents with the Collector of Customs
within a short time after the arrival of the vessel at a port.
All vessels, whether
of foreign or domestic registry, arriving in this country direct from foreign ports
are required to make entry at a Custom House.
In addition, all foreign vessels
plying between American ports for the purpose either of securing further cargo or
of unlading
residue cargo, are required to make entry at each port of call.
American vessels, if registered for foreign trade, or if they carry any.foreign
cargo in bond, are likewise required to make entry at each port of call.
A detailed statement of the number of entrances of vessels for each of the
past two fiscal years and of the increases or decreases in their net tonnage
follows S
ENTRANCES
NUMBER OE VESSELS
Per cent
of Increase
Number_________ Net Tonnage of Vessels
1935-6.
1936
: 1935
:
1936
1935
;
! No. Tamase
Direct from Foreign Portis
Foreign vessels
17,549
Domestic vessels
12.087
Total
29,636
Via Other Domestic Ports with
„Residue Cargo to Unlade
Foreign vessels
4,563
Domestic vessels
2.734
Total
7,297
Via Other Domestic Ports to
„.Lade
Foreign vessels
5,419
Domestic vessels
2.633
Total
8,052
From Noncontiguous Territory
Domestic vessels only
4,180
|rpm Intercoastal Ports
Domestic vessels only
6,055
From Coastwise Ports
Domestic vessels only
12.992
Total entrances
Foreign vessels
27,531
Domestic vessels
40.681
. .Total.
, v
68.212
minus sign (— ) denotes decrease.
16,391
12.547
28,938
42,328,963
21.022.889
63,351,852
40,585,576 7.1 4,3
21.860.806 -3.7 -3.8
62,446,382 2.4 1.4
4,028
2.877
6,905
15,427,545
10.014.470
25,442,015
13,786,104 13.3 11.9
10.615.098 -5.0 -5.7 *
24,401,202 5.7 4.3
5,283
2.642
7,925
16,975,539
9.192.955
26,168,494
16,416,341
9.156.596
25,572,937
3,776
6,708,180
5,931
21,724,480
21,624,815
13.557
26.058.686
26.468.398 -4.2 -1.6
25,702
41.330
67,032
74,732,047
94.721.660
169,453,707
2.6
-.4
1.6
3.4
.4
2.3
5,669,375 10.7 18.3
2.1
70,788,021 7.1
95.395*088 -1.6
166,183,109 1.8
.5
5.6
-.7
2.0
pÄPGRTS OF CA33TLE DIDDER QUOTA PROVISIONS OF THE
P AN AniAlá TRADE AGREEMENT
\
\
During the Period January 1 to August 8, 1956
(Preliminary Figures)
\
Customs Districts
TOTAL IMPORTS
Percent of Quota
\
Cattle
Under 175
Pounds
(Head)
M
Cattle 700
Pounds
Or More
(Head)
Dairy Cows
700 Pounds
Or More
(Head)
139,989
89 »9$
3,417
17 M
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H.
Maryland
Mas sachusett s
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total From Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
(a)
26,936
3,482
21,771
231
67
562
—
6,565
38,019
906
1,328
3,025
22
386
290
16 ,539
— - * - 10
- » 686
- - 38
------- - -/
31
• - - - «*»««<*•
- 298
2,015
339
120,129
3,417
7,151
§,950
5,702
57
1 9 ,860____________
—
—
—
—
-
~
Reports from the Collectors of Customs show that the quota on this
class of cattle has been filled.
(Prepared by ^vision o f V t a t i s t i c s ^ d Research, Bureau of Customs)
The Commissioner of Customs today announced preliminary figures
for the imports of cattle under the quota provisions of the Canadian
Trade Agreement, for the period January 1 to August 8, 1936, and the
percentage that such imports bear to the totals allowable under the
quota provisions, as follows:
TREASURY DEPARTMENT
Washington
for i m m e d i a t e r e l e a s e ,
Press Service
No. 8-19
Thursday, August 20, 1936
The Commissioner of Customs today announced preliminary figures for the imports
of cattle under the quota provisions of the Canadian Trade Agreement, for the period
January 1 to August 8, 1936, and the percentage that such imports bear to the totals
allowable under the quota provisions, as follows!
______________________
TOTAL IMPORTS
Percent of Quota
Cattle
Under 175
Pounds
(Head)
(a)
_____________
Cattle 700
Pounds
or more
(Head)
139,989
89.9^
FROM CixlADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St, Lawrence
Vermont
Washington
Total from Canada
POM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
26,936
3,482
21,771
231
67
562
- - 6,565
38,019
906
1,328
3,025
22
386
290
16,539
120,129
------ -
-----------
7,151
6,950
5,702
57
19,860
Dairy Cows
700 Pounds
or more
(Head)
3,417
17.1*
M
10
M — _ ».
686
—
M ..
38
M
_ _ _ _
31
». —
/»»
298
2,015
339
3,417
M •• M M
^ _ —-r r „
** »*
m*
Ia) Reports from the Collectors of Customs
show that the quota on this class of
cattle has been filled.
ooOoo
Airplan© passenger traffic
between the United. States and. foreign couirbri
maintained its popularity during the 1936 fisoal year, with a total of 27,584
passengers arriving from abroad by this method* This number was an inorease of
231 passengers over the total of the 1935 fisoal year, the
Bureau of Customs
announced*
Prior to 1935 the largest number of passengers arriving from foreign
lands by plane m s
in 1931 when 20,907 passengers arrived.
<4n the
4SBSSa^9^!
8S'aS?
dustoms "district, which clears Cuban and British possessioi§,trafficpjjwith
\
ij
• '
^
\|
tjhe exception of Bermuda*
Passefobgers arriving in thest district adjacent to tt^^^iadian border
umbered 5,131 d u r i n^the 1936 fiscal year, as c o m p a ^ f w i t h 4,244 in the prlioi?
jwelve month period^
a ir
.
1
Fewer/pas senger s arrived alorj||^C^f| Mexican border with a total of ^,4/8
the 1936 fiscal year as comp;
There were 4
with 6,492
bringing passengers
©ceding 12 month peijiodi
United States
•o^abroad in 1936 a^compared with 5,037 planes in the 1935 fiscal year# M P
!
\
X
it 1934 land 7,300 in 1930*
1
1
I
f
1930 the p l a n e s - : ® t v e r a g e of three passsagass.*-^,Jp36;
The number of planes and passengers arriving by plane in each customs
district from 1930 to 1936,followsj
dumber of Airplanes and Passenger Entries at the Various
Border Districts: Fiscal Years 1930—1936 inclusive»
Customs District
1930
Airplanes
1932
1931
Maine
Vermont
St» Lawrence
Massachusetts
Connecticut
Philadelphia
New York
Rochester
Buffalo
Ohio
Michigan
Chicago
Duluth
Dakota
Montana
Oregon
Washington
Northern Border
San Francisco
Los Angeles
San Diego
Arizona
El Paso
San Antonio
Southern Border
Alaska
Puerto Rico
Florida
67
35
16
—
433
310
28
349
100
21
674
2033
51
106
68
404
349
18
430
—
244
58
648
2376
46
1498
161
267
874
2846
64
285
2122
1052
99
318
851
2320
78
352
1682
1763
35
119
512
2429
61
154
1319
Other Districts
2471
2012
6708
1534
5913
(1)134
19
14
(1)102
158
111
Maine
Vermont
Ê>t. Lawrence
Massachusetts
fîonnecticut
^hiladelphia
New York
floches ter
Buffalo
èhio
Michigan
Chicago
Duluth
Dakota
Montana
Oregon
Washington
Northern B<
San Francisco
Los Angeles
San Diego
Arizona
El Paso
San Antonio
1er
Southern B
Alaska
Puerto Rico
Florida
Other District!
(l) Estimated
552
483
—
367
84
283
517
44
259
1933
1934
1935
1936
22
55
78
8
—
—
396
240
20
150
1
6
409
8
—
324
1717
1130
39
130
436
24
208
29
7
—
—
321
—
155
13
76
35
156
29
16
~
3
295
1735
49
248
1300
48
148
52
—
2
—
380
1
171
18
117
—
3
338
9
1
139
1427
53
636
216
195
472
1572
114
225
1234
2
537
21
—
477
1870
1
259
395
129
197
444
1425
219
222
1301
1597
5049
1573
4572
1742
5037
Passengers
28
207
121
104
124
155
77
275
94
66
60
82
4
—
341
172
16
376
—
18
429
14
—
372
1950
«
539
—
215
57
201
—
_
158
48
373
151
—
2019
1558
29
650
46
—
697
776
—
274
13
168
—
9
790
19
—
520
754
—
192
19
132
—
4
637
233
—
2Q0
185
19
96
••
17
399
9
773
2032
156
274
28
82
435
975
354
246
1227
1827
832
132
1081
1632
2061_
5131
208
4814
260
430
3666
9378
63
927
5415
3595
.18
670
3565
7848
133
1160
8010
4690
73
326
2359
7448
67
658
7872
2597
;90
374
2823
5884
52
1049
10019
108
1297
607
755
3083
5850
150
1105
11217
12472
4.
823
941
276
640
3811
6492
457
1359
15802
649
578
66
307
2878
4478
894
1474
IboUo
tB q o A
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Saturday, August 22, 1936.
Press Service
No. 8-20
Airplane passenger traffic between the United States and foreign
countries maintained its popularity during the 1936 fiscal year, with a
total of 28,585 passengers arriving from abroad by this method.
This
number was an increase of 231 passengers over the total of the 1935 fiscal
year, the Bureau of Customs announced.
Prior to 1935 the largest number of passengers arriving from foreign
lands by plane was in 1931 when 20,907 passengers arrived.
The number of planes and passengers arriving by plane in each Customs
district from 1930 to 1936 follows:
►p- a» ]
-a
*o ¡
iP »p
>3
r^
j
/&?$>* <*V>
ï
/
/
/
S § l i M l É S ¡ ;É
'/>¿°7 (>,/ Q® JU JU £C>8c>
/a o u
u
^
“w;
ÀIA
I
O** { T e r r i l
J f f
'/%?/'c &TT*i
S/^3
28V u ¿U p
f#
A t\
I "
*■*/ I
¿L ?J. ^ J J^s.. 3 2 8~ \
3,V9.
t}L3ÜA\AU2AA2Í8.
1
L i s'
1
"I
2
M
.
W P 1
/ 7 fU
*HKL
0.0^1
J
'S i ^ i
L
J
l
€¿¿Á£
.L...
/y3 V o
/, 3VÙ
/ j /
/3
A ll
2 J J l7 ± lÿ J 7 S
2~ù
#£¿1
U
j
2a JL à Z Ì £ £ ^
L
)
kjL&M.
'~t— .*
3, (ù U
lâ °
_J1
i
Number of Airplanes and Passenger Entries at the various
Border Districts: Fiscal Years 1930-1936 inclusive*
Customs District
Maine
Vermont
St* Lawrence
Massachusetts
Connecticut
Philadelphia
New York
Rochester
Buffalo
Ohio
Michigan
Chicago
Duluth
Dakota
Montana
Oregon
\
Washington
Northern B< •der
San francisco
Los Angeles
San Diego
Arizona
El Paso
San Antonio
Southern B< ►der
Alaska
Puerto Rico
Florida
ricts
Maine
Vermont
St« Lawrence
Massachusetts
Connecticut
Philadelphia
New York
Rochester
.buffalo
Ohio
Michigan
Chicago
Duluth
Dakota
Montana
Oregon
W a & ington
„_
Northern Border
San Francisco
Los Angeles
San Diego
Arizona
El Paso
San Antonio
____
Southern Border
Alaska
Puerto Rico
Florida
Other Districts
(1) Estimated
1930
Airplanes,
1931
1®32
m
m
404
1933
1934
%
1935
me
1936
m■
31
2951
•■
185 I
2
•
380
1
171
18
117
•
3
338
9
1
139
1427
me
99
318
851
me
341
me
172
16
376
me
18
429
14
m
572
1950
•
•
1763
35
119
512
me
•
396
<»
240
20
150
1
6
409
8
«*
324
1717
•
••
1130
39
130
436
64
285
2122
78
352
1682
61
2)\ 154
1319
49
248
1300
114
225
1234
219
222
1301
354J
246 §
12271
2471
2012
1534
1597
1573
1742
18271
m
433
310
28
349
m
100
21
m
674
¿0¿3
m
46
1498
lòl
267
874
(1)134
19
14
M
m
552
me
367
84
$283
m
m
158
48
2019
349
18
430
me
m
244
58
648
2376
m
m
ioor >
(l)102Pa8SenW
104
158
155
111
•
•
«e
•
«
•
539
483
m
215
517
57
44
201
259
m
m
29
650
373
46
151
1558
■3B7ST
208
4814
260
430
3666
S T
927
5415
-m r
imr
133
1160
8010
9303
20907
697
2900
4690
73
326
251
7448
67
658
7872
8597
L8945
28
121
124
1
«•
«
776
»,
638^
216
195
472
77
275
94
•
754
520
2843
192
19
132
me
4
637 *
283
m
200
2407
2597
90
374
108
1297
607
755
274
13
168
me
790
19
5884
52
1049
10019,
11120-
5850
150
1105
11217
12ÍZ2—
•
321
•
155
13
76
•
2
537
21
me
477
1870
1
259
395
129
197
444
49
454
55
11
me
•
83 2
131
10
78
me
4
943
45
ma
1632
4244
191
96 I
m■
17 1
3991
9I
m■
773§
20321
1561
2741
281
82 I
4361
132!
1081
jQfil
513L
649
578
66
307
mt.
457
1359
15222.
um.
894
1474
9
by
the
shows
Utx.
1
►x
" X
>S, / ^
accompanying
T h e £a£32535te* t a b l e ,
pxsgxx
Treasury D e p a r t m e n t s
D i v i s i o n of R e s e a r c h
the
status
originating
a g e n c i e s ^ during
0 ~ oi J
of E X X E X X x h z x x i H ®
criminal
the
June
six m o n t h s
ended
e».!" uTTOiiu u tl,,'wS5fc
is a l s o e n g a g e d in l a w
w i t h t h e T r e a s u r y and
enforcement
other
teE±n^x±H®i®ii:stxKH]iErx±iiac
the
Coast
are not
other Treasury
30,
shown
of Treasury
1936.
^ T » A i np_fe
otioriLnsdi^^
.j isirftrs
Guard,/
activities,
government
a n d Statisti
cases,
operations
rrf t h o u g h jbhe U n i t e d S t a t e s
included with
a n a l y s i s prepared
from law enforcement
’■
___
R
^
inss
from an
agencie s ^
in co-operatio
J.ts cases
separately but
cases u n d e r the
i».w
are
r e s p e c t i v e he
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
■Sunday, August 23. 1936.
8-21-36.
Press Service
No. R-P1
The accompanying table, from an analysis prepared by the Treasury
Department’s Division of Research and Statistics, shows the status of criminal
cases, originating from law enforcement operations of Treasury agencies during
the six months ended June 30, 1936.
The United States Coast Guard is also engaged in law enforcement acti
vities, in cooperation with the Treasury and other government agencies.
Its
cases are not shown separately but are included with the other Treasury cases
under the respective headings.
Alcohol
Tax
Unit
Customs
18*033
393
3,039
1,340
„431
22,942
18,329
480
3,493
1,346
139
23,787
11,407
288
1,550
1,087
43
14,375
6*160
186
1*193
826
13
8,378
4*677
69
372
544
27
5,489
. 3,080
98
325
304
10
3,818
1, 755,600
54,126
745,625
555,072
4 ,407
3, 114,830
285
291
625
672
339
372
$1,738,769
$48,851
$60,328
Nev? Cases
Cases Closed
Total Convicted
Number Imprisoned
Number Pined
Number placed op
Probation
Total Number Days
Imprisown ent
Average Number
Days Imprisonment
Total Pines
Average Fines in Dol
lars
Cases Pending
Narcotics
372
708
174
17,677
480
2,004
ooOoo
Secret
Service
internal
Revenue
Total
$97,624 $42,,024 $1, 987,596
235
1, 556
359
1,163
386
21,710
Cooperative action taken by other governments generally prohibits the
exportation of alcohol except under landing certificate and requires a bond
to bo posted.
This bond is forfeited to the government unless the exporter
within a reasonable timo presents authenticated customs documents to prove the
alcohol was actually and lawfully entered into the port of a foreign country.
--OOO--
TREASURY DEPARHIE NT
Washington
Press Service
No. 8-22
FOR RELEASE MORNING NEWSPAPERS
Sunday August 23_, 19_36^._____
8722736'
With only one suspected alcohol carrier reported off the Atlantic seaboard
by the United States Coast Guard in the past six weeks, Treasury officials today
expressed themselves as highly pleased over the cooperation of foreign governments
in their efforts to halt the smuggling of contraband alcohol into this country.
The latest European government to assist the United States in its war on
smuggled spirits is Belgium, which on August 1 enforced new regulations regarding
the exportation of alcohol.
Action by the'Belgian government brings to five the number of nations
which have taken action to prevent the smuggling of alcohol into the United States^
Other nations cooperating with this government in this respect include Cubaj
France (St. Piorre), Mexico and Great Britain’s colonies in the western hemisphe re•
The Belgian government took action when it was shown that several ships of
foreign registry had landed, or attempted to land, contraband alcohol on American
shores after obtaining their cargoes at Antwerp.
In order to obtain a refund of the high excise duties which are otherwise
payable, alcohol intended for export from Belgium must be shipped on vessels
belonging to regular steamship lines sailing from a Belgian port, or on vessels
having a minimum tonnage of 3,000 and transporting at the same time other mer
chandise of an amount equal in quantity to the gross weight of the alcohol taken
on board*
Furthermore, the alcohol must be shipped in metal casks of a capacity
of not loss than 100 liters each.
This latter provision is designed to make
more difficult the transshipment of alcohol at sea.
2-alcohol
n y■
3,000
b^ggg, and transporting at the same timqg^ther
an amount equal in quantity to the gross weight of the alcohol taken on board.
Furthermore,the alcohol must be shipped in metal casks of a capacity of not less
than 100 liters each. This latter provision is designed to make more difficult
the transshipment of alcohol at sea.
The & St.Pierre executive decree prohibits the exportation of alcohol
except under landing certificate, and a bond of approximately |5 per gallon must be
posted. This bon^, if forfeited to the government unless the exporter within a
reasonable time presents authenticated customs documents to prove the alcohol
ms
actually and lawfully entered tnto the port of a fireiga country.
The Mexican agreement is similar to the St .Pierre decree, except
that thj
bond is somewhat lower. The “landing certificate" principle is also the basis for
the agreements of the other governments,with the exception of Cuba.
The Cuban executive decree prohibits the exportation of alcohol from
Cuba in any vessel except a common carrier on a regularly scheduled itinerary. It i
also prohibits the exportation of alcohol to any destination which the government
my
is a point of concentration from which
---- - r^wt- r h ° ™
the alcohol is iatarcon: scheduled to be smuggled into the United States at a laterj
time.
The Holland proposal contains the "landing certificate” principle/
-em-
y
(/
With only ono suspected alcohol carrier reported off the Atlantic
seaboard
by the United States Coast Guard^, in the past^si^weeks, Treasury
officials today expressed themselves as highly pleased over the cooperation
of foreign governments in their efforts to halt the smuggling of contraband
alcohol into this country«
The latest European government to assist the United States in its m s
on smuggled spirits is Belgium, which on Aug«,l enforced new regulations regarding
the exportation of alcohol«
Action by the Belgian government brings to fixe,the number of nations
which have argvTrod nnr^ rnVi nn to prevent the smuggling of alcohol into the
United States« A sixth, Hoi land, has assured Treasury and State Department officials
that it will take similar action early in September«
Other nations cooperating with this government in this respect include
C u b a , France
(St«Pierre), Mexico and
Great Britain *s colonies in the western
hemisphere«
The Belgian government took action when it m s shown that several ships
¡¡^ ¿¿Acontraband
foreign registry had ^ittte^or attempted to land
a l c o h o l 1a
cn
American shores, after obtaining their cargoes at Antwerp«
v
Qgg> of these ships transferred port of its^ar go, contained in -two xiter
c^ ‘m L » 9t o smaller vessels on the high seas, near the United States coast line;
another brought its cargoxi of Belgian alcohol in a ship especially fitted with
large tanks and attempted to rim its illicit cargo into the United States, by
j
means of an American tttankerM which took its cargo at seaJFKe’transporting ships
^
*ff~**~* J
Js
W 6re oop ied by the United Otatea
rn iP f~ -~ .*~™«****~
either apprehended^**
,
forced to
depart with the greater part of their cargoes st&ll on board«
In order to obtain a refund of the high excise duties which are otherwise
payable,alcohol intended for expert must be shipped on vessels belonging to regu
steamship lines sailing from a Belgian port,or on vessels having a minimum tonnage
m-o-r-e
TREASURY DEPARTMENT
Washington
FOR RELEASE MORNING- HEWS PAPERS
Sunday,- August 23, 1936.
8/22/3*6'
'
Press Service
No. 8-22
With only one suspected alcohol carrier reported off the Atlantic seaboard
by the United States Coast Guard in the past six weeks, Treasury officials today
expressed themselves as highly pleased over the cooperation of foreign governments
m
their efforts to halt the smuggling of contraband alcohol into this country.
The latest European government to assist the United States in its war on
smuggled spirits is Belgium, which on August 1 enforced new regulations regarding
the exportation of alcohol.
Action by the Belgian government brings to five the number of nations which
have taken action to prevent the smuggling of alcohol into the United S t a t e s . ) ^
six]
BMfmii rnurrn iiyiiwnitMwrinrirmr"
1*111111
ate Department officials thalTTr^ill
Other nations cooperating with this government in this respect include Cuba,
France (St. Pierre), Mexico and Great Britain's colonies in the western hemisphere.
The Belgian government took action when it was shown that several ships of
foreign registry had landed, or attempted to land, contraband alcohol on American
shores after obtaining their cargoes at Antwerp.
in sixga^on c a s e s / t S - l ^ ^
\
on the high seas, near the United S t a j g ^ o a s t
1y es an°ther brought its cargT'oi^^
lip especially fitted
Ifrge tanks and attempted to run its iWJ>tfifiic a r g ^
Of an American "tanker” w M g M f S S k its cargo at sea.
w$i
^United States, by mejans
riefan
In this casTthS
*0*1^
^
j
l f l o ^ g ^ h e n d e d by Customs officers or forced to depart with the
gre at e r part- e f •the in
.pyi
1
ng
TREASURY DEPARTMENT
hashington
MEMORANDUM EOR THE PRESS
August 24, 1936.
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21,1933) as amended
W eek ended August 21, 1936:
Philadelphia ......................
San Fra n c i s c o ......... ............
Denver
Total for week ended August 21, 1936 .
Total receipts through August 21, 1936
491,744.55
280,285.02
6.670.81
778,700.38
96,943,352.96
fino ounces
»
K
300.00
2,143.85
549.50
44,96
fine ounces
n
»
it
h
it
h
»
i<
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
W eek ended August 21, 1936:
P h i l a d e l p h i a .....................
New York
................ ......... ?
Sah F r a n c i s c o ....... .
Denver .............. *...... s
t......
New Orleans ..............-..... ***
Seattle
»*?• •
Total for week ended August 21, 1936
Total receipts through August 21, 1936
.
3,038.31
112,969,655.42
n
it
it
it
h
»
»
it
h
it
it
n
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES:
Week ended August 21, 1936:
Imports
Ph i l a d e l p h i a......... ..... . .. $
9,442.16
New Y o r k ......................
15,548,100.00
Sah Francisco ... ...... ......*
1,499,086.61
Denver
............ .......... *
7,315.14
New Orleans ................. ,
4,124.06
Seattle ..............«»*«...,..—
Total for week ended August 21 ...$17,068,067.97
Secondary
$ 100,815.77
4,555,217,00
23,053,02
17,201.29
21,790.15
9.098.98
$4,727,176.21
New
Domestic .
$
511.56
215,600.00
1,515,492.67
597,903.09
477.265.43
$2,806,772.75
GOLD RECEIVED BY THE FEDERAL RESERVE BANKS AND THE TREASURER’S OFFICE:
(Under Secretaries Order of December 28, 1933)
Received by Federal Reserve Banks:
W eek ended August 19 .............
Received previously ..............
Total to August 19 ... *.... .
_____ Gold Coin— _
$
.7,561.92
31,699,065.62
$31,706,627,54
Received by Treasurer’s Office:
W eek ended August 19 ............ *
Received previously ..............
Total to August 19 j * * *v o ..... **
$ ~
~
.. .... 268,656.00
$
268,656.00
NOTE:
Gold bars deposited with the New York Assay Office
in the amount of $200,572,69previously reported,
Gold Certificates
$
254,950.00
110 T384.210.00_
$110,639,160.00
$
$
2 , 200.00
^496,920.00—
2,499,120.00
[
2 -
In order to obtain a refund of tho high excise duties which are otherwise
payable, alcohol intended, for export from Belgium must be shipped on vessels
belonging to regular steamship lines sailing from a Belgian port, or on vessels
having a minimum tonnage of 3,000 and transporting at the same time other mer
chandise of an amount equal in quantity to the gross weight of* the alcohol taken
on board.
Furthermore, tho alcohol must be shipped in metal casks of a capacity
of not less than 100 liters each.
more difficult tho transshipment
Gjry'nCiimj i»
This latter provision is designed to make
of alcohol at sea
^ i b i 1 t the
h i exportation
of alcohol ex
¿¿aq q 5
prohibit4
jexp€r
cept under landing co rti fi cate i’andkaoond
be posted*
1[R, l 'jr ^fii f 00M!P|IOiF,"gB*iWBl
This bond is forfeited to tho government unless the exporter
within a reasonable time prpsents
authenticated customs documents to prove the
alcohol was actually and lawfully entered into the port of a foreign country.
ove rrment s, w r
:ie agreements of tne
The Cuban executive decree prohibits t
fll
3ia
regularly
scheduled itinerary
in any ve^l?®1^ ^
car]
‘on cf alcohol to any destination which
also prohibits the expor
;uppo
.t of concentration from which the JwWxihol is schedule^
ingglod into the uni
oOo-
TRIAS!®! DSPARTKSRT
WASHISGTOH
Press Service
FOR RELEASE, M081HHG HffSPAPffiS,
Tuesday. Auaist "5f 1335.,--------8/24/36
Secretary of the Treasury Korgenthau announced last
evening that the t® d ers for #50,000,000, or thereabouts, of
273-day Treasury h i l l s , dated August 26, 1936, and maturing
May 26, 1937, which were offered on August 21, were opened at
the Federal Reserve banks on August 24.
fha to ta l amount applied for was fl97t603t000t of
which |50,046,000 was accepted.
The accepted bids ranged in
p rice from 99.876, equivalent to a rate o f about 0.164 per
cent per annua, to 99.867, equivalent to a rate o f about
0.175 percent per annum, on a bank discount b a s is .
Only
part o f the amount bid fo r a t the la t t e r p rice was accepted.
The average price of Treasury b i l l s to be issued i s 99.871
and the average rate i s about 0.170 percent per annum on a
.
\
3 b a n k 'discount b a s is .
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, August 25, 1936,
Press Service
No, 8-23
Q/2^/ZQ
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury bills, dated
August 26, 1936, and maturing May 26, 1937, which were offered on August 21,
were opened at the Federal Reserve banks on August 24,
The total amount applied for was $197,603,000, of vfhich $50,046,000 was
accepted*
The accepted bids ranged in price from 99,876, equivalent to a rate
of about 0,164 percent per annum, to 99,867, equivalent to a rate of about
0,175 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 99,871 ar^d the average rate is about 0,170 percent per
annum on a bank discount basis.
— oOo—
In response to numerous inquiries concerning the present
status of the suit filed by the Comptroller of the Currency and the
Receiver of the Harriman National Bank and Trust Company against
certain clearing house banks in New Y o r k , C o m p t r o l l e r of the
Currencysta?est that shortly after the decision was rendered by the
Supreme Court of the State of New York instructions were issued by
the Comptroller to New York counsel to take the necessary steps to
prosecute an appeal to the Appellate Division of the court«
O
The appeal can not be perfected until the entry of final
judgment and we understand that under the required procedure it is
necessary for counsel for the clearing house banks to submit formal
findings to the court preliminary to the entry of the judgment*
Our
counsel now report that these findings are being prepared by counsel
for the clearing house banks and that they will be presented to the
court when it reconvenes in September*
steps as much as possible in order that the questions involved may
0
be determined on appeal i
C-o >
PRESS HHJSASI
Jn reapona# to minerai» Inquisite® conce»ing thè preaent
(tatua of thè «Ut fllad by thè Conptrollar of thè Currenoy end th*
Recelver of thè Harrlman Hatlonal Bank end Truat Conpany
certain doari»« tema# bada la Ha* lork, thè Coaptroller of thè
Currenoy «tate» that shortly after thè deeialo» » • raodwed
by
thè
Supreae Court of thè State of Se» Tork inatructlona «ere laeued by
thè Comptroller to He» Tork eouaad to take thè neceaaary «top» to
proaeeute aa appeal to thè Appellai* Melalo» of th» eourt.
The apped eaa aot he perfeoted uatll thè eatcy of flaal
judgneat aad «e uaderataad that under thè roqulrod procedure lt le
neceaaary for counael for thè olearia« houae baake to «ubali formi
fladlaga to «»e eourt prdlaiaary to thè «atry of th» Judgaent.
Our
couaael ao. report that theae fladla«» are bel»« prepared by eou»«d
for thè doari»« houae banka
and that they «1U b» preaaated to thè
court when li reooaresei tn Septeaber.
«e bare requeated our attorney» to «jqpadite thè prooedural
gtepg M
Buch «a poaalble la order that thè quaationa laroleed aay
he detemlaed oc appeal et thè oarlieat date praotleable»
3.
T. T, O'OMBK».
Comptroller of ilio Currenoy #
press
m ju m
In response to nuneroue Inquiries concerning the preeeni
status of the salt filed h y the Comptroller of tbs Currency and the
Receiver of the Harrlaan Rational Bank and Trust Company against
certain clearing house banks in He* York, the Comptroller of tbs
Currency statos that shortly after the decision «as rendered by the
Supreme Court of the State of Sew fork instructions «ere issued
the Comptroller to Re« fork counsel to take the neeeesary steps to
prosecute en appeal to 'Use Appellate Division of the eourt»
The appeal can not be perfected until the entry of final
judgment and «e understand that under the required procedure It is
neeessaxy fer counsel for the clearing house banks to submit formal
findings to the court preliminary to the entry of the judgment.
Our
counsel no« report that those findings are being prepared by counsel
for the clearing house banks and that t o y «ill be presented to .the
court «hen It reconvenes in gepteriter*
fe have requested our attom^re to expedite the procedural
stops as such as possible in order that the questions involved say
be determined on appeal at the earliest date practicable.
y. r. T. 0*COR»Olt,
Comptroller of the Currency.
miss
m m
$i
In responso to atinerou« inquiariee eencerning thè pt«««wt
gtatu# of the suit ftlcd by thè ConptroUer of thè Currendf ^
**»
Eeeelver of thè Barrinan Hatianal Bank and Trust Coapany against
cartata clearing house beni* in Ho» Tori, th« Ccnptroller of tl»
C o n d o r st*te* timi shortly s f t » th« dolilo» «a» rendere* by th«
Sapide Court of th» Stato of 8«w Tori: instructtons ««re iasued by
th» Controller to Se» Tori eouasel io tei» th» n o e m m tv «top» to
proeecute ®n appeal to th» Appellato Divisto» of th« court*
The appeal ean net bc perfoeted »itti th» entry of final
jud^aent and «e uuderstand that under thè required procedure tt le
neceaaaxy for eounsel for thè clearing house beni* to «ubait fornai
findinge to thè court preltninaiy to thè entry ©f thè Jndgnent*
Our
m , i l no* report that theee finding» are being preparai by eouneel
for thè clearing house banke and that they wtll he presente* to thè
court «bea it reconreaes in Septenber*
le bare requeated oar attorwye to «spedite thè procedi»«!
etape as nuch «e poesible In ondar that tl» questione Imolvwl n*y
he determinaci m appeal et thè earllest date precticable*
J.
fé té OtCOS^iR,
Conptroller of thè Currency
PRFBS RUBASI
In response to numeroug inquietes conceroing thè presesi
status of thè sali filed by thè Conptroller of thè Currency and thè
Reeeiver of thè Harriaan gattonai Bank and Trust Coapany againet
certain clearing house hanks In He* loitp thè Conpiroller of thè
Currency state» that shortly after thè dedalea eas rendered by thè
Supreme Court of thè State of Se» Tork Instructions »ere lssued by
thè Conptroller to Se» Tork oounsel to take thè neeessary steps to
pressante aa appeal to thè Appellate Divieto» of thè court«
The appesi osa mot he perfected until thè entry of finsi
judgaent and »e understand that under thè required procedure li 1»
neeessary for counsel for thè clearing house hanks to subaii formai
findings to thè court preliminary to thè entry of thè judgaent*
Our
counsel nov report that these findings are heing prepared by counsel
for thè clearing house hanks and that they »111 he preseated to thè
court uhen it reconvenes in Septeaber«
He have requested our attomeys to expedlte thè proeedural
steps es imch as posslhls in order that thè queetions involved nsy
he deteralned on appeal ai thè earllest date practicable*
f* t
« ©«cosso»,
Conptroller of thè Currency«
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Tuesday, August 25, 1936
Press Service
No. 8-24
In response to numerous inquiries concerning the present status of the
suit filed by the Comptroller of the Currency and the Receiver of the
Harriman National Bank and Trust Company against certain clearing house banks
in New York, J. *F. T. O ’Connor, Comptroller of the Currency, today stated that
shortly after the decision was rendered by the Supreme Court of the State of
New York instructions were issued by the Comptroller to New York counsel to
take the necessary steps to prosecute an appeal to the Appellate Division of
the court,
Mr, O ’Connor said:
"The appeal can not be perfected until the entry of final judgment and
r
we understand that under the required procedure it is necessary for counsel for
the clearing house banks to submit formal findings to the court preliminary to
the entry of the judgment.
Our counsel now report that these findings are
being prepared by counsel for the clearing house banks and that they will be
presented to the court when it reconvenes in September,
"We have requested our attorneys to expedite the procedural steps as
much as possible in order that the questions involved may be determined on appeal
at the earliest date practicable,"
— oOo—
Th® Commissloner of Customs today announced preliminary figures
for the imports of cattle under the quota provisions of the Canadian
Trade Agreement, for the period January 1 to August 15, 1936, and the
percentage that such imports bear to the totals allowable under the
quota provisions, as follows;
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
AUG 2 6 1936
TO MR« FUSSBLL
Boom 289- Treasury Department)
FROM MISS HENRY:
There is attached a tabulation for immediate release showing
iag>orts of cattle under the quota provisions of the Canadian Trade
Agreement, during the period from January 1 to August 18, 1936.
When the tabulation has been mimeographed, will you kindly
have 45 copies forwarded to me at Room 415, Washington Bldg.?
TREASURY D EP AFcTI.iHIT
Washington
August 26, 1936*
Since the issuance of the Memorandum for the Press dated August 24, 1936,
listing receipts of gold by the Mints and Assay Offices, for the vreek ended
August 21, 1936, the New York Assay Office has revised its report.
following table presents the corrected reports:
°
Imports
New
Domestic ~j
Secondary
P h i l a d e l p h i a ...............•»•***$
9,442.16
New York
19,702,800.00
IZ
1,499,086.61
| 100,815.77
358,617.00
23,053.02
New Orleans ¡¡.A..................
4,124.06
Seattle ...... T.............. . ........ .
Total for week ended Aug. £1,$21*222,767.97
21,790.15
— oOO'
The
4 530,576.21
I
257,oOO.OO
j||,'J
W>»
-
»
* I
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE
*
Wednesday, August 26, 1936.
Press Service
* * 8 “ 25
Th.e Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement,
for the period January 1 to August 15, 1936, and the percentage that such imports|
bear to the totals allowable under the quota provisions, as follows.
Customs Districts
TOTAL IMPORTS
Percent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H.
Maryland
Mas sachusett s
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Cattle
Under 175
Pounds
(Head)
Cattle 700
Pounds
Or More
(Head)
(a)
141,200
90.6^
Dairy Cows
700 Pounds
Or More
(Head)
3,606
18,0/o
26,986
3,502
21,832
231
67
562
-----•
6,642
38,853
906
1,328
3,102
22
Total from Canada
429
290
16,586
121,340
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
7,151
6,950
5,702
57
19,860
(a) The quota on this class of cattle has been filled.
1
-
11
**
702
38
—
—
31
—
**
311
2,108
404
3,606
—
m
-
TREASURY DEPARTMENT
Washington
August 31, 1936,
MEMORANDUM FOR THE PRESS
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended.
Week ended August 28, 1936:
P h i l a d e l p h i a ................................
741,230.02
San Francisco ...........................
411,072.42
Denver ............................................
12,287.05
Total for week ended August 28, 1936 ..............
1,164,585.49
Total, receipts through August 28, 1936 ..........
98,107,942.45
fineounces
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended August 28, 1936t
59.00 fine ounces
Philadelphia ........... . ........ ............... .
1 , 002.88
»
»
New Y o r k ................................ •*......
85.65
*
"
San Francisco ....................................
Denver ........................................... *
New Orleans ....... ............................. * •
Seattle ..................... ..... ...............
1,147.53
«
"
Total for week ended August 28, 1936 ..............
112,970,802.95
«
Total receipts through August 28, 1936 ............
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES:
Week ended August 28, 1936:
Imports
P h i l a d e l p h i a .................
$
3,757.84
New Y o r k .....................
9,090,600.00
962,246,67
San F r a n c i s c o .... .........
Denver .......................
14,547.93
New Orleans ..................
Seattle ......................
........ —
Total for week ended Aug. 28,1936 $10,071,152.44
Secondary
$
68,470.04
75,650.00
17,702.97
19,228.71
20,957.07
11.759,81
$ 213,768.60
New
Domestic
$
609.49
300,600.00
1,570,283.32
657,548.99
980.918.17
$3,509,959.97
GOLD RECEIVED BY THE FEDERAL RESERVE BANKS AND THE TREASURER’S OFFICE*
(Under Secretary’s Order of December 28, 1933)
Received by Federal Reserve Banks*
Week ended August 26 . .............
Received p r e v i o u s l y .............. *•
Total to August 26 .................
Received by Treasurer’s Office:
Week ended August 2 6 ..... .........
Received p r e v i o u s l y ................
Total to August 26
...............
NOTE:
_____ Gold Coin
$
6,328.28
31,706,627.54
$31,712,955.82
$
$
—
268,656.00,
268,656.00
Gold bars deposited with the New York Office
in the amount of $200,572.69 previously reported.
PrQld C e r tific a te s
$
183,570.00
n o ,639.160.00$ 110,822,730.00
$
1,500.00
2 T499.120.00
$
2 , 500,620.00
TREASURY BEPARTEMT
WASHINGTON
Press service
FOR RELEASE, MORNING NEWSPAPERS,
TmesdMj Seutemhep
Sentemhep S
1» 122§*
19«o«----- Tuesday.
8/31/36
- >b
Secretary of the Treasury Morgenthau announced la s t
evening that the tenders for #50,000,000, or thereabouts, of
273-day Treasury h i l l s , dated September 8 , 1936, and maturing
June 3, 1937, which were offered on August 28, were opened at
the Federal Reserve banks on Angust 31.
The to ta l amount applied fo r was 1176,162,000, of
which §50,012,000 was accepted.
The accepted b id s ranged in
price from 99.909, equivalent to a rate of 0.120 percent per
annum, to 99.883, equivalent to a rate o f about 0.154 percent
per annum, on a bank discount b a s is .
Only part o f the amount
bid fo r at the la t t e r price was accepted.
The average price
o f Treasury b i l l s to be issu ed i s 99.887 and the average rate
i s about 0.149 percent per annum on a bank discount b a s is .
t
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Tuesday, Septenber 1 . 1936.
'
8/31/36
Press Service
-------- *---- ~ ------
No-
8-26
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 373-day Treasury bills, dated
September
3,
1936, and maturing June
3,
1937, which were offered on August 38
were opened at the Federal Reserve banks on August 31.
The total amount applied for was $176,163,000, of which $50,013,000 was
accepted.
The accepted bids ranged in price from 99.909, equivalent to a
rate of 0.130 percent per annum, to 99.883, equivalent to a rate of about 0.154
percent per annum, on a bank discount basis.
at the latter price was accepted.
Only part of the amount bid for
The average price of Treasury bills to be
issued is 99.887 and the average rate is about 0.149 percent per annum on a
bank discount basis.
— oOo—
TREASURY DEPARTMENT
O F F IC E O F T H E S E C R E T A R Y
W A SH IN G T O N
COMMISSIONER OF
ACCOUNTS AND DEPOSITS
September 2, 19360
TO MR» GASTON:
During the month of August, 1936, the following market
transactions took place in Government securities for investment ac
counts r
Total purchases
Total sales
•••
• • « $3,795,850
• ♦ ♦ • • • • • • •
Net purchases r
1,000
#3,794,850
- 5 -
Dividend payments during August, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $2,756,090,
Dividend payments to the creditors of all active receiverships since the bank
ing holiday of March, 1933» aggregated $735,94-2,216*
- A -
The Planters National Bank of Walnut Ridge, Arkansas, in receivership Novem
ber 11, 1930} disbursements, including offsets allowed, to depositors and other
creditors aggregated $75,237, which represented 72.24 per cent of total liabilities.^
Unsecured depositors received dividends amounting to 57.9 per cent of their claims.
The First National Bank of New Cumberland, West Virginia, in receivership No
vember 21, 1927} disbursements, including offsets allowed, to depositors and other
creditors aggregated $191,987, which represented 29.10 per cent of total liabilitie.
Unsecured depositors received dividends amounting to 16.375 per cent of their claim
The First National Bank of Ceylon, Minnesota, in receivership December 8, 1933}
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $88,827, which represented 79.70 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 71.95 per cent of their claims.
The First National Bank of Sweetwater, Texas, in receivership December 14,
1931} disbursements, including offsets allowed, to depositors and other creditors
aggregated $506,845, which represented 72.59 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 57.15 per cent of their claims.
The First National Bank of Aledo, Illinois, in receivership September 27, 1928
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $417,896, which represented 73.83 per cent of total liabilities.
U n sec u red
depositors received dividends amounting to 65.61 per cent of their claims.
The First National Bank in Cement, Oklahoma, in receivership October 4, 19335
disbursements, including offsets allowed, to depositors and other creditors sggre
gated $110,086, which represented 94.33 per cent of total liabilities.
depositors received dividends amounting to 80 per cent of their claims.
U n sec u red
- 3 -
The First National Bank of Dawson, Minnesota, in receivership May H , 1931}
disbursements, including offsets allowed, to depositors and other creditors ag
gregated $122,756, which represented 50.19 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 27.32 per cent of their claims.
The Citizens National Bank of Greenwood, Indiana, in receivership October 29,
1934; depositors and other creditors were paid 100 per cent principal with inter
est in full amounting to an additional dividend of 11.82 per cent.
Total payments
to creditors, including offsets allowed, aggregated $304,202, and the stockholders
received $4,442, together with the assets remaining uncollected.
The First National Bank of Cherokee, Kansas, in receivership February 17,
1932} disbursements, including offsets allowed, to depositors and other creditors
aggregated $152,197, which represented 95.74 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 94.15 per cent of their claims.
The Peoples National Bank of Salem, New York, in receivership September 23,
1931} disbursements, including offsets allowed, to depositors and other creditors
aggregated $464,165, which represented 82.31 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 80.519 per cent of their claims.
The First National Bank of Arlington, Nebraska, in receivership June 17, 1932}
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $81,070, which represented 68.44 per cent of total liabilities.
U n sec u red
depositors received d i v i d e r s amounting to 55.136 per cent of their claims.
The First National Bank of Reynolds, Georgia, in receivership October 20,
1932} disbursements, including offsets allowed, to depositors and other
creditors
aggregated $90,324, which represented 71.72 per cent of total liabilities.
cured depositors
Unse-
received dividends amounting to 50.7 per cent of their claims.
-
2
-
full amounting to an additional dividend of 8*933 per cent*
Total payments to
creditors, including offsets allowed, aggregated $4-25>74-0, and the stockholders
received $4,351, together with the assets remaining uncollected*
The First National Bank of Blytheville, Arkansas, in receivership November 6,
1931; depositors and other creditors were paid 100 per cent principal and a portion
of the interest, amounting to an additional dividend of 10*25 per cent.
Total pay
ments to creditors, including offsets allowed, aggregated $206,009*
The Nephi National Bank of Nephi, Utah, in receivership January 26, 1932} dis
bursements, including offsets allowed, to depositors and other creditors aggre
gated $107,665, which represented 74.05 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 43.65 per cent of their claims*
The First National Bank of Doon, Iowa, in receivership October 22, 1931$ dis
bursements, including offsets allowed, to depositors and other creditors aggre
gated $60,329* which represented 33*50 per cent of total liabilities*
Unsecured
depositors received dividends amounting to 43.12 per cent of their claims*
The First National Bank of Midland City, Alabama, in receivership September
28, 1931$ disbursements, including offsets allowed, to depositors and other credi
tors aggregated $112,473, which represented 80*65 per cent of total liabilities.
Unsecured depositors received dividends amounting to 34.45 per cent of their
claims•
The Commercial National Bank of Hattiesburg, Mississippi, in receivership
June 12, 1931; disbursements, including offsets allowed, to depositors and other
creditors aggregated $625,737, which represented 77.22 per cent of total liabilities
Unsecured depositors received dividends amounting to 35 per cent of their claims.
TREASURY DEPARTMENT
Washington
^
FOR RELEASE, MORNING NEWSPAPERS,
Press Service
J. F. T. O ’Connor, Comptroller of the Currency, today announced the comple
tion of the liquidation of 21 receiverships during August, 1936, making a total
of 441 receiverships finally closed or restored to solvency since the so-called
banking holiday of March, 1933*
Total disbursements, including offsets allowed,
to depositors and other creditors of these 44-1 institutions, exclusive of the 42
receiverships restored to solvency, aggregated $122,766,970, or an average return
of 74«25 per cent of total liabilities, while unsecured depositors received divi
dends amounting to an average of 58*98 per cent of their claims*
The First National Bank of Oneida, Illinois, in receivership June 21, 1932;
depositors and other creditors were paid 100 per cent principal with interest
in
full amounting to an additional dividend of 8*73 per cent*
cred
Total payments to
itors, including offsets allowed, aggregated $131,956, and the stockholders receive
$128, together with the assets remaining uncollected.
The First National Bank of Elma, Washington, in receivership November 16, 1933
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 12»808 per cent.
Total payments to
creditors, including offsets allowed, aggregated $202,320, and the stockholders
received $930, together with the assets remaining uncollected*
The First National Bank of Olive, California, in receivership January 26, 19.
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 12.93 per cent.
Total payments to
creditors, including offsets allowed, aggregated $91,335, and the stockholders re
ceived $859, together with the assets remaining uncollected.
The Farmers National Bank of Garner, Iowa, in receivership March 20, 19345
depositors and other creditors were paid 100 per cent principal with interest in
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday« September 7. 1936______
9/3/36.
Press Service
N o . 8*27
J. F. T. 0*Connor, Comptroller of the Currency, today announced the
completion of the liquidation of
21
receiverships duripg August, 1936,
making a total of 441 receiverships finally closed or restored to solvency
since the so-called hanking holiday of March, 1933.
including offsets allowed, to
Total disbursements,
depositors and other creditors of these 441
institutions, exclusive of the 42 receiverships restored to solvency, aggre
gated $122,766,970, or an average return of 74.25 per cent of total liabili
ties, while unsecured depositors received dividends amounting to an average
of 58.98 per cent of their claims.
The First National Bank of Oneida,
1932;
Illinois, in receivership June 21,
depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 8.73 per cent. Total
payments to creditors, including offsets allowed, aggregated $131,956, and
the stockholders received $128, together with the assets remaining uncollected.
The First National Bank of Elma, Washington, in receivership November
16, 1933;
depositors and other creditors were paid 100 per cent principal
with interest in full amounting to an additional dividend of 12.808 per cent.
Total payments to creditors, including offsets allowed, aggregated $202,320,
and the stockholders received $930, together with the assets remaining un
collected.
The First National Bank of Olive, California, in receivership January
26, 1934;
depositors and other creditors were paid 100 per
cent principal
with interest in full amounting to an additional dividend of 12.93 per cent.
2
Total payments to creditors, including offsets allowed, aggregated $91,335,
and the stockholders received $859, together with the assets remaining un
collected.
The Farmers national B ank of Garner, Iowa, in receivership March 20,
1934;
depositors and other creditors were paid 100 per cent principal.with
interest in full amounting to an additional dividend of 8.938 per cent.
Total payments to creditors, including offsets allowed, aggregated $425,740,
and the stockholders received $4,351, together with the assets remaining
uncollected.
The First National B ahk of Blytheville, Arkansas, in receivership
November
6,
1931;
depositors and other creditors were paid 100 per cent
principal and a portion of the interest, amounting to an additional divi
dend of 10.25 per cent.
Total payments to creditors, including offsets
allowed, aggregated $206,009.
The Nephi National Bank of Nephi, Utah, in receivership January 26,
1932;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $107,665, which represented 74.05 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 48.65
per cent of their claims.
The First National Bank of Doon, Iowa, in receivership October 22,1931;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $60,329, which represented 33.50 per cent of total liabilities.
Unsecured depositors received dividends amounting to 48.12 per cent of their
claims*
The First National Bank of Midland City, Alabama, in receivership
September 28, 1931;
disbursements, including offsets allowed, to depositors
3
and other creditors aggregated $112,473, which represented 80.65 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 34.45 per cent of their claims.
The Commercial National Bank of Hattiesburg, Mississippi, in receiver
ship June 12, 1931;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $625,737, which represented 77.22 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 35 per cent of their claims.
The First National B ank of Lawson, Minnesota, in receivership May 14,
1931;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $122,756, which represented 50.19 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 27.32
per cent of their claims.
The Citizens National B ank of Greenwood, Indiana, in receivership
October 29, 1934;
depositors and other creditors were paid 100 per cent
principal with interest in full amounting to an additional dividend of 11.82
per cent.
Total payments to creditors, including offsets allowed, aggregated
$304,202, and the stockholders received $4,442, together with the assets re
maining uncollected.
The First National B ank of Cherokee, Kansas, in receivership February
17, 1932;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $152,197, which represented 95.74 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 94.15
per cent of their claims.
The Peoples National Bank of Salem, Ne?/ York, in receivership September
23, 1931,
disbursements, including offsets allowed, to depositors and other
creditors aggregated $464,165, which represented 82.31 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 80.519
per cent of their claims.
The First National B ank of Arlington, Nebraska, in receivership June
17, 1932;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $81,070, which represented 68.44 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 55.136
per cent of their claims.
The First National B ank of R eynolds, Georgia, in receivership October
20, 1932;
disbursements, including offsets allowed,
to depositors and other
creditors aggregated $90,324, which represented 71.72 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 50.7 per
cent of their claims.
The Planters National B ank of W alnut Ridge, Arkansas, in receivership
November
11,
1930;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $75,237, which represented 72.24 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
57.9 per cent of their claims.
The First National Bank of New Cumberland, .West Virginia, in receiver
ship November
2 1,
1927;
disbursements, including offsets allowed, to de
positors and other creditors aggregated $191,987, which represented 29.10
per cent of total liabilities.
Unsecured depositors received dividends
amounting to 16.375 per cent of their claims.
/A
The First National Bank of Ceylon, Minnesota, in receivership December
8,
1933,
disbursements, including offsets allowed, to depositors and other
5
creditors aggregated $88,827, which represented 79.70 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 71.95
per cent of their^claims.
The First National B ank of Sweetwater, Texas, in receivership December
14, 1931;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $506,845, which represented 72.59 per
liabilities.
cent of total
Unsecured depositors received dividends amounting to 57.15
per cent of their claims.
The First National Bank of Aledo, Illinois, in receivership September
27, 1928;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $417,896, which represented 73.83 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 65.61
per cent of their claims.
The First National Bank in Cement, Oklahoma, in receivership October
4, 1933;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $110,086, which represented
liabilities.
94.33
per cent of total
Unsecured depositors received dividends amounting to 80 per
cent of theim claims.
Dividend payments during August, 1936, by all receivers of insolvent
national banks to
the creditors of all active receiverships aggregated
$2,756,090.
Dividend payments to the creditors of adl active receiverships since
the banking holiday of March, 1933, aggregated $735,942,216.
---oOo---
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OB BESTOBED TO SOLVENCY DURING THE MONTH OF
___________ ___________AUGUST 19^6_____________________
Receiverships:
Date of
Failure:
First National Bank, Oneida, Illinois
6- 21-32
First National Bank, Elma, Washington * 1 1 - 16-33
First National Bank, Olive, California *
I- 26- 3H
#
3- 20- 31*
Farmers National Bank, Garner, Iowa
First National Bank, Blytheville, Arkansasll— 6-31
Total
Disbursements,
Including
Offsets Allowed:
$
1 3 1 ,956.00
202,320.00
91,335.00
1+25,71+0.00
206,009.00
Per Cent
Total
Returns
to All
Creditors:
105.26
105.12
IO5 .6O
IOI+.51
106.23
Per Cent
Dividends
Paid
Unsecured
Claimants:
102.73
112.202
112.93
102.932
110.25
Nephi National Bank, Nephi, Utah
1 - 26-32
First National Bank, Doon, Iowa
10- 22-31
First National Bank, Midland City, Alabama 9- 22-31
Commerpial National Bank, Hattiesburg,Miss#6-12-31
First National Bank, Dawson, Minnesota
5- 1 U-3 1
107,665.00
60,329.00
112,1+73.00
625,737.00
122 ,756.00
20.65
1+2.12
3I+.I+5
77.22
50.19
35
27.32
Citizens National Bank, Greenwood, Ind. * 10-29-31+
First National Bank, Cherokee, Kansas
2-17-32
Peoples National Bank, Salem, New York
9-23-31
iirst National Bank, Arlington, Nebraska
6- 17-32
First National Bank, Reynolds, Georgia
10- 20-32
30l+,202.00
152 ,197.00
IO 7.69
95.7^
i+61+,i 65.oo
Planters National Bank, Walnut Ridge, Ark l l - H -30
First National Bank, New Cumberland, W. V a a i - 21-27
First National Bank, Ceylon, Minn.
*
12 — 2-33
First National Bank, Sweetwater, Texas
12 - 11+-31
First National Bank, Aledo, Illinois
9- 27-22
First National Bank in Cement, Okla. *
10— 14-33
75,237.00
19 1 ,927.00
22,227.00
506.21+5.00
1+17 ,296.00
110 ,026.00
i/
Formerly in Conservatorship
2 1 ,070.00
90,321+.00
71+.05
33-50
22.31
62.1+1+
71.72
72.21+
29.IO
79.70
72.59
73*23
9*+*33
1+2.65
111.2 2
9I+.I5
20.519
55.136
50.7
57.9
16.375
71.95
57.15
65.61
20
f
K)
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
______________________AUGUST 1956_________________
Receiverships:
Date of
Failure:
Total
Disbursements,
Including
Offsets Allowed;
Per Cent
Total
Returns
to All
Creditors:
Per Cent
Dividends
Paid
Unsecured
Claimants:
First National Bank, Oneida, Illinois
First National Bank, Elma, Washington *
First National Bank, Olive, California *
Farmers National Bank, G a m e r , Iowa
*
First National Bank, Blytheville, Arkansas
6-21-32
11-16-33
1-26-34
3-20-34
11-6-31
$ 131,956.00
202 ,320.00
91.335.00
425 ,740.00
206 ,009.00
10 5.8 6
10 5 .1 2
10 5.60
Nephi National Bank, Nephi Utah
First Ifetional Bank, Doon, Iowa
First National Bank, Midland City, Alabama
Commercial National Bank* Hattiesburg, Miss»
First National Bank, Dawson, Minnesota
1-26-32
10-22-31
9-28-31
6-12-31
5-14-31
1 0 7 ,665.00
60,329.00
112,473.00
625 ,737.0 0
122,756.00
74.05
33.50
8 O .6 5
77.22
50.19
34.45
35
27.32
Citizens National Bank, Greenwood, Ind. *
First National Bank, Cherokee, Kansas
Peoples National 3ank, Salem, New York
First National Bank, Arlington, Nebraska
First National Bank, Reynolds, Georgia
10-29-34
2-17-32
9-23-31
6-17-32
10 -20-32
304,202.00
152,197.00
464 ,165.0 0
8 1 ,070.00
90,324.00
107.69
95.74
82.31
111.82
94.15
80.519
68.44
5 5 .13 6
71.72
50.7
Planters National Bank, Walnut Ridge, Ark*
First National Bank, New Cumberland, W. Va.
First National Bank, Ceylon, Minn* *
First National Bank, Sweetwater, Texas
First National Bank, Aledo, Illinois
First National Bank in, Cement, Okla* *
1 1 -11 -3 0
1 1 -2 1 -2 7
75.237.00
191,987.00
88 ,827.00
506,845*00
417*896.00
110,086.00
7 2 .2 4
29 .IO
16 .3 7 5
U
Formerly in Conservatorship
12-8-33
12-14-31
9-27-28
10-4-33
104.51
106.23
79.70
72.59
73.83
94.33
108.73
112 ,8 0 8
112.93
108.938
110 .2 5
4 8 .6 5
4 8 .12
57.9
71.95
57.15
6 5 .6 1
80
l
%y
OFFICE OF THE COMMISSIONER OF CUSTOMS
September 4, 1936.
TO MR. FUSSELL
(Room 289 - Treasury Department)
FROM MISS HENRY:
There is attached a tabulation for immediate release showing
imports of cattle under the quota provisions of the Canadian Trade
Agreement during the period from January 1 to August 22, 1936.
When the tabulation has been mimeographed, will you kindly
have 45 copies forwarded to me at Room 415, Washington Bldg.?
St a
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade, Agreement, for the period January 1 to
August 22, 1936, and the percentage that such imports bear to
the totals allowable under the quota provisions, as follows:
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, September 4, 1936.
Press Service
No. 8-28
The Commissioner of Customs today announced preliminary figures for
imports of cattle under the quo4a provisions of the Canadian Trade Agreement,
for the period January 1 to August 22, 1936, and the percentage that such
imports bear to the totals allowable under the quota provisions, as follows:
Customs Districts
TOTAL IMPORTS
Per cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New Y 0rk
Oregon
Philadelphia
St. Lawrence
V ermont
Washington
Total from Canada
Cattle
Under 175
Pounds
(Head)
(a)
Cattle 700
Pounds
Or more
(Head)
142,504
91.5$
27,169
3,535
21,859
231
67
562
6,708
39,177
906
1,328
3,102
(a)
3,753
18.8$
1
-
11
494
290
16,853
773
38
—
31
311
2,150
438
122,303
3,753
7,432
7,010
5,702
57
-
22
FROM MEXICO
Arizona
El Paso
Sail Antonio
San Diego
Total from Mexico
Dairy Cows
700 Pounds
Or more
(Head)
20,2 0 1
The quota on this class of cattle has been filled
-
: Under 175
Customs Districts
:
Pounds
________________________ :: (Head)
TOTAL IMPOSTS
Per cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
Ndw York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
(a)
:
:
:
Pounds
Or More
(Head)
:
:
:
700 Pounds
Or More
(Head)
(a)
142,504
3,753
_____________________ 91,5$___________ 18,8$
27,169
3,535
21,859
231
67
562
6,708
39,177
906
1,328
3,102
1
-
11
494
290
16,853
773
38
31
311
2,150
438
122,303
3,753
7,432
7,010
5,702
57
-
20,201
-
22
The quota on this class of cattle has been filled.
TREASURY DEPARTMENT
WASHINGTON
Presa Service
Saturday. September 5. 1936.
9/4/36
8
"
—
QQ
Secretary o f the Treasury Morgenthau announced la st
evening that th e tenders fo r #50,000,000, or thereabouts, of
273-day Treasury b i l l s , dated September 9, 1936, and maturing
June 9 , 1937, which were offered on September 2 , were opened
a t the Federal Reserve banks on September 4 ,
The t o t a l amount applied f o r was #140,137,000, o f
which #50,147,000 was accepted.
The accepted b id s ranged in
p rice from 99.906, equivalent to a rate o f about 0.124 per
cent per annum, to 99.897, equivalent to a rate o f about
0.136 percent per annum, on a bank discount b a s is .
Only part
o f the amount bid fo r a t the la t t e r price was accepted.
The
average price o f Treasury b i l l s to be issued i s 99.901 and the
average ra te i s about 0.130 percent per annum on a bank d is
count b a s is .
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Saturday. September 5. 1936,9/4/36.
Press Service
No. 8-29
Secretary of the Treasury Morgenthau announced last evening that
the tenders for $50,000,000, or thereabouts, of 273-day Treasury bills,
dated September 9, 1936, and maturing June 9, 1937, which were offered
on September 2, were opened at the Federal Reserve banks on September 4.
The total amount applied for was $140,137,000, of which $50,147,000
was accepted.
The accepted bids ranged in price from 99.906, equivalent to
a rate of about 0.124 percent per annum, to 99.897, equivalent to a rate
of about 0.136 percent per annum, on a bank discount basis.
the amount bid for at the latter price was accepted.
Only part of
The average price of
Treasury bills to be issued is 99.901 and the average rate is about 0.130
percent per annum on a bank discount basis.
oOo—
UNITED STATES 0? AMERICA
£-3/4 PERCENT TRSASURY BONDS 07 1956-59
Dated and hearing interest from September 15, 1936
Due Septeaber 15, 1959
REDEEMABLE AT THE OFTION 07 THE UNITED STATES AT PAR AND ACCHJSD INTEREST ON AND AJTSB
SEPTEMBER 15, 1956
Interest payable March 15 end Septeaber 15
TRSASUKT DEPARTMENT,
Office of thè Secretary,
Washington, September 8, 19
1936
Department Cincular No, 567
Publio Debt Service
I, OTORINO 07 BONDS
1« The Secretary of thè Treasury, pursuant to thè euthority of thè Seeond
Liberty Bond Aot, approyed Septeaber £4, 1917, as eaended, invites subscriptione, at
par and aoorued interest, from thè people of thè United States for £-3/4 percent
bonds of thè United States, deslgnated Treasury Bonds of 1956-59» The aaount of
thè offering le #400,000,000, or thereabouts, with thè right reserved to thè Secretary
of thè Treasury to Increase thè offering by ah aaount sufflè ient to aooept all subsorlptions for ehloh Treasury Kòtes of Serles D-1936, maturing September 15, 1936, are
tenderad in payaont and aoooptod»
II» DSSCRIPTION 07 BONDS
1» The bonds vili be dated September 15, 1936, and «ili bear interest from that
date at thè rate of £-3/4 percent per annua, payable semiannually on March 15 and
September 15 in eaoh year untll thè prinolpal aaount becomes payable, They sili
mature Septeaber 15, 1959, but aay be redeemed at thè optlon of thè United States
on and after Septeaber 15, 1956, in shole or in part, at par and aoorued interest, on
any interest day or days, on 4 months’ notino of redemption givan in such manner as
thè Secretary of thè Treasury shall presoribe»
In case of parttal redempt ion thè
bonds to bo redeemed sili be determined by such aethod as aay bs
*ibed by thè
Interest on th© public debt to the amount of about 1185,000,000
is payable on September 15, 1936.
The amount of Treasury notes of
Series D-1936 maturing on September 15, 1936, which may
for the Treasury bonds now offered, is $514,066,000*
The text of the official circular follows:
be exchanged
-
2-
banks and the Treasury Department are authorized to act as official
agencies.
With respect to cash subscriptions, applications from banks
and trust companies for their own account will be received without
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 •5,000 or less by payment in full; and, if for more than #5,000,
by payment of 10 percent of the amount applied for, but not less than
#5,000.
With respect to exchange subscriptions, such subscriptions
should be accompanied by a like face amount of 1-1/2 percent Treasury
notes of Series D-1936 tendered in payment.
Subject to the reservations set forth in the official circular,,
cash subscriptions for amounts up to and including #5,000 will be given
preferred allotment, cash subscriptions 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 allotted must be made or completed on or before
September 15, 1936.
The right is reserved to close the books as to any
or all subscriptions or classes of subscriptions at any time without
notice.
In order to provide an equitable allotment and distribution of the
bonds among all classes of subscribers, all banking institutions and
others concerned are again urged to cooperate in the manner outlined in
Department letter of May 27, 1936, addressed to the President of each
Federal Reserve bank and made public at that time.
TREASURY DEPARTMENT
Washington
Ton RELEASE,
MORNING NEWSPAPERS,
Tuesday. September 8, 1936.
Pres» Service
**o. Y~ & ®
9-5-36
Secretary of the Treasury Morgenthau is today offering for subscrip
tion, at par and accrued interest, through the Federal Reserve banks
#400,000,000, or thereabouts, of 20-23 year 2-3/4 percent Treasury bonds
of 1956-®|, with the right reserved to the Secretary of the Treasury to
increase the offering by an amount sufficient to accept all subscriptions
for which payment la tondored 4 » 1-1/2 percent Treasury notes of Series
D-1936, maturing September 15, 1936,
The Treasury bonds of 1956-tfl now offered for cash, and in exchange
for Treasury notes maturing September 15, 1936, will be dated September 15,
1936, and will bear Interest fro® that date at the rate of 2-5/4 percent
per annum payable semiannually*
They will mature September 15, 19^f, but
may be redeemed at the option of the United States on and after September
15, 1956*
The Treasury bonds will be accorded the same exemptions fro® taxation
as are accorded other issues of Treasury bonds now outstanding.
These
provisions are specifically set forth in the official circular issued today.
The 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.
Applications will be received at the Federal Reserve banks and branches,
and at the Treasury Department, Washington*
Banking institutions generally
may submit subscriptions for account of customers, but only the Federal Reserve
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. September 8. 1936«
9-5-36
Press Service
No* 8-30
Secretary of the Treasury Morgenthau is today offering for subscription,
at par and accrued interest, through the Federal Reserve hanks $400,000,000, or
thereabouts, of 20-23 year 2-3/4 percent Treasury bonds of 1956-59, with the
right reserved to the Secretary of the Treasury to increase the offering by an
amount sufficient to accept all subscriptions for which 1-1 ¡2 percent Treasury
notes of Series D-1936, maturing September 15, 1936, are tendered in payment and
accepted*
The Treasury bonds of 1956-59 now offered for cash, and in exchange for
Treasury notes maturing September 15, 1936, will be dated September 15, 1936, and
will bear interest from that date at the rate of 2-3/4 percent per annum payable
semiannually*
They will mature September 15, 1959, but may be redeemed at the
option of the United States on and after September 15, 1956*
The Treasury bonds will be accorded the same exemptions from taxation as
are accorded other issues of Treasury bonds now outstanding.
These provisions
are specifically set forth in the official circular issued today*
The 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.
Applications will be received at the Federal Reserve banks and branches,
and at the Treasury Department, Washington*
Banking institutions generally may
submit subscriptions for account of customers, but only the Federal Reserve banks
and the Treasury Department are authorized to act as official agencies*
With
respect to cash subscriptions, applications from banks and trust companies for
-
2
-
th6ir own account will be received without deposit but will be restricted in each
case to an amount not exceeding nne-half of the combined capital and surplus
of the subscribing bank or trust company#
Cash subscriptions from all others
must be accompanied, if for $5,000 or less by payment in full; and, if for more
than $5,000, by payment of 10 percent of the amount applied for, but not less than
$5,000#
With respect to exchange subscriptions, such subscriptions should be
accompanied by a like face amount of 1-1/2 percent Treasury notes of Series
D-1936 tendered in payment.
Subject to the reservations set forth in the official circular, cash sub
scriptions for amounts up to and including $5,000 will be given preferred allot
ment, cash subscriptions 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 allotted must be
made or completed on or before September 15, 1936#
The right is reserved to
close the books as to any or all subscriptions or classes of subscriptions at
any time without notice.
In order to provide an equitable allotment and distribution of the bonds
among all classes of subscribers, all banking institutions and others concerned
are again urged to cooperate in the manner outlined in Department letter of
May 27, 1936, addressed to the President of each Federal Reserve bank and made
public at that time#
Interest on the public debt to the amount of about $155,000,000 is payable
on September 15, 1936.
The amount of Treasury notes of Series D-1936 maturing
on September 15, 1936, which may be exchanged for the Treasury bonds now offered,
is $514,066,000.
The text of the official circular follows;
UNITED STATES OF AMERICA
2-3/4 PERCENT TREASURY BONDS OF 1956-59
Dated and bearing interest from September 15, 1936
Due September 15, 1959
REDEEMABLE AT THE OPTION OF THE UNI RED STATES AT PAR AND ACCRUED INTEREST ON AND AFTER
SEPTEMBER 15, 1956
Interest payable March 15 and September 15
1936
Department Circular No. 567
TREASURY DEPARTMENT,
Office of the Secretary,
Washington, September 8, 1936.
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 the people of the United States for 2-3/4 percent
bonds of the United States, designated Treasury Bonds of 1956-59.
The amount of
the offering is $400,000,000, 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-1936, maturing
September 15, 1936, are tendered in payment and accepted.
II.
1.
DESCRIPTION OF BONDS
The bonds will be dated September 15, 1936, and will bear interest from that
date at the rate of 2-3/4 percent per annum, payable semiannually on March 15 and
September 15 in each year until the principal amount becomes payable*
They will
mature September 15, 1959, but may be redeemed at the option of the United States
on and after September 15, 1956, in whole or in part, at par and accrued interest, on
an7 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 desig-
noted in any such notice, interest on the bonds called for redemption shall cease,
2.
Hie bonds shall bo 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)
ostate or inheritance taxes, cr gift taxes, and (b) graduated additional income
taxes, commonly known as surtaxes, and excess-profits and war-prof its taxes, now
or hereafter imposed by the*United States, upon the income or profits of individual
partnerships, associations,
or corporations.
authorized by the Second Liberty Bond Act
The interest on an amoun t of bonds
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 bo exempt from the
taxes provided for in clause (b) above.
3.
The bonds will boacceptable to secure deposits of public
moneys, but will
not bear the circulation privilege and will not be entitled to any privilege of
conversion*
4.
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.
5*
The bonds will be subject to the general regulations of the Treasurer
Department, now or hereafter prescribed, governing United States bonds.
III.
1*
SUBSCRIPTION AND ALLOTMENT
Subscriptions will be received at the Federal Reserve banks and branches
aud at the Treasury Department, Washington
Banking institutions generally may
- 3 submit subscriptions for account of customers,
out only the Federal Reserve banks
and the Treasury Department are authorized to act as official agencies.
Others
than banking institutions will not be permitted to enter subscriptions except for
their own account.
Cash subscriptions from banks and trust corpajiics for their own
account will be received without deposit but will be restricted in each ease to an
amount not exceeding one-half of tile combined capital and surplus of the subscrib
ing bank or trust company.
Cash subscriptions from all others must be accompanied,
if for $5,000 or less by payment in full; and, if for core than $5,000, by payment
of 10 percent of the amount of bonds applied for, but not less than $5,000.
The
Secretary of the Treasury reserves the right to close the books as to any or all
subscriptions or cla,sses 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 loss than the amount of bonds applied for, to
cake allotments 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 said methods or such other methods of allotment and classification of allot
ments 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 sub
scriptions for amounts up to and including $ 5,000 will be given preferred allot
ment; cash subscriptions for amounts over $5,000 will be allotted on an equal per
cent age basis, but not loss than the maximum preferred allotment; and subscriptions
in payment of which Treasury Dotes of Series D-1936 are tendered will be allotted
ln full.
Allotment notices will be sent' out 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 bonds allotted on cash
subscriptions must be made or completed on or before September 15, 1936, or on later
- 4 allotment.
In every case wnere payment is not so completed, the payment with,
application up to
10
percent of the amount of "bonds applied for shall, upon declara
tion made "by the Secretary of the Treasury in his discretion, be forfeited to the
United States.
Any qualified depositary will he permitted to make payment "by
ciedit for oonds allotted to it for itself and its customers up to any amount for
which it shall he qualified in excess of existing deposits, when so notified by
the federal Reserve hank of its district.
Treasury Notes of Series D-1936,
aaturing September 15, 1936, will he accepted at par in payment for any bonds
subscribe^ 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
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 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 M0RG3HTHAU, JR.,
Secretary of the Treasury#
trsäsüht
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TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS
Wednesday, September 9. 1936.
9/8/36.
Press Service
No. 8-31
Secretary of the Treasury Morgenthau announced last night that the
subscription books for the current offering of 2-3/4 percent Treasury Bonds
of 1956~59 closed at the close of business Tuesday, September
8,
for the
receipt of cash subscriptions.
The subscription books will close at the close of business Thursday,
September 10, for the receipt of subscriptions in payment of which Treasury
Notes of Series D-1936, maturing September 15, 1936, are tendered.
Cash subscriptions placed in the mail before 12 o ’clock midnight,
Tuesday, September
8,
and exchange subscriptions placed in the mail before
12 o ’clock midnight, Thursday, September 10, will be considered as having
been entered before the close of the subscription books.
Announcement of the amount of cash subscriptions and the basis of
allotment will probably be made on Friday, September 11.
— oOo—
From Jan©l,1920 to Aug.3,1920 he served with the
epartment of Justice
deputy of the Fair Price Commission for New York State©
From
1922 to 1925 he was Special Agent in Charge of the Intelligence
Unit at St©Louis
JU
crv
*rr: *
u
O ^ o, 'X—
5 $
7
Secretary of the Treasury Morgenthau today announced the appointment of
Frank JetarWilson, to he acting chief of the Secret Service,xamsssuiHAisg effective
^
/V
immediately* Wilson comes to Secret Service
from the Intelligence Unit of the
Bureau of Internal Revenue, with ■which organization he has been identified since
Aug.3,1920, with the exception of six months in 1926 when he was engaged in private
business in Florida*
in Charge
Since June 1,1934 Wilson has been Special Agent/of the SakaiiigKBBBxUnztziBX
-V'<^
i
u
Cleveland division, comprising Ohio,Indiana and Kentucky*
_ ****
In 1930 and 1931 Wilson was det_ai_JLed to Chicago to take charge of the
governments ^income tax drive^^pipsi JU. Capone and ten u
* Wilson's
deciphering of impounded Capone bookkeeping records enabled the government to conned
Al Capone with various underworld activities,proving income tax evasions and
resulting in an eleven year prison sentence; ten years in federal prisons and one
year in the Cook bounty (ill*) jail®
A few days after the kidnaping of the Lindbergh baby in March. 1932,Wilson and
other Intelligence Unit agents were sent to aid in the case* He has among his prize«
possessions personal letters from Col. Lindbergh,expressing appreciation for his
assistance*
Wilson was Born at Buffalo,N.Y., iax May 19,1886*He graduated from Buffalo
higlJschool and spent one year at the University of Buffalo* For ten years tism. he
/the real estate business in Buffalo*
He enlisted in the army in 1917 but m s discharged after a month because of
defective eyesight*
he served^as investigator for the joint commissnj
of the N.Y. Fair Price commission anTrd the U.S.Food Administration .On Sept#l,1919
he became vice-chairman of the £ commission ¿named by the mayor of Buffalo to
dispose of surplus army foods,selling more than 300 carloads of foodstuffs*
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Tuesday. September 8. 1936.
Press Service
Ho. 8-32
Secretary of the Treasury Morgenthau today announced the appointment of
Prank J. Wilson, to he Acting Assistant Chief of the Secret Service, effective
immediately*
Wilson comes to Secret Service from the Intelligence Unit of the
Bureau of Internal Bevenue, with which organization he has been identified since
August 3, 1920, with the exception of six months in 1926 when he was engaged in
private business in Florida.
Since June 1,^. 1934 Wilson has been Special Agent in Charge of the
Cleveland Division, comprising Ohio, Indiana and Kentucky.
In 1930 and 1931 Wilson was detailed to Chicago to take charge of the
Government1 s income tax drive involving AL Capone and his associates.
Wilsons
deciphering of impounded Capone bookkeeping records enabled the Government to
connect A1 Capone with various underworld activities, proving income tax
evasions and resulting in an eleven year prison sentence; ten years in federal
prisons and one year in the Cook County (ill.) jail.
A few days after the kidnaping of the Lindbergh baby in March, 1932,
Wilson and other Intelligence Unit agents were sent to aid in the case*
He has
among his prized possessions personal letters from Colonel Lindbergh, expressing
appreciation for his assistance.
Wilson was born at Buffalo, N.Y., May 19, 1886*
He graduated from Buffalo
high school and spent one year at the University of Buffalo.
For ten years he
was engaged in the real estate business in Buffalo.
He enlisted in the army in 1917, but was discharged after a month be
cause of defective eyesight.
From January 2, 1918 to September 1, 1919
he
served as investigator for the joint commission of the New York Fair Price Com
mission and: the United States Food Administration.
Cn September 1, 1919 he
became vice-chairman of the commission named by the Mayor of Buffalo to dispose
-
2
-
of surplus army foods, selling more than 300 carloads of foodstuffs.
Prom January 1, 1920 to August 3, 1920 he served with the Department of
Justice as a deputy of the Pair Price Commission for Hew York State.
Prom 1922 to 1925 he was Special Agent in Charge of the Intelligence
Unit at St. Louis.
— oOo—
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
MR. FUSSELL
(Room 289 - Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release shov
ing preliminary figures for imports of commodities coming into
the United States from the Philippine Islands, under the quota
provisions of the Philippine Independence Act and the Cordage
Act of 1938, for the period January 1 to August 29, 1936.
Whdn this tabulation has been mimeographed, vill you kindly
have 15 copies forwarded to me at Room 415, Washington Bldg.?
The Commissioner of Customs today announced preliminary
figures for imports of commodities coming into the United
States from the Philippine Islands, under the quota provisions
of the Philippine Independence Act and the Cordage Act of 1935,
for the period January 1 to August 29, 1936, and the percentage
that such imports hear to the totals allowable under the quotas,
as follows:
IMPORTS Of COMMODITIES FROM Tgg, PHILïPPîNEâ UNDER QUOTA
I N D M i ^ l S s E ACT AND CORDAGE ACT OF 1935
m »g
During the*
CUSTOIvSS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Michigan
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Lawrence
St. Louis
San Francisco
Virginia
Washington
Wisconsin
)
S u g a r s
Customs Districts
TOTAL IMPOSTS
Per Cent of Quota
%vto August 29, 1936
Refined
[Pounds)
219,867,851
49.1$
**
•
8,228,760
3,250,500
22,441,790
•
36,994,685
117,361,825
•
—
6,783,872
*
•
•
**
24,802,669
•
3,750
93,515,242
83.5$
1,590,972,647
88.8$
5,000
8,948,785
9,016,528
7,917
es
•
18,346,012
499,329
*
•
•
3,744,293
es
23,516,923
-
•
81,623,296
6,604,440
•
296,373,217
456,864,524
•>
49,076
602,606,851
ms
e»
—
•
7,136,753
40,264,932
•
128,878,013
•
•
Quota year commenced May.l.
(Prepüred^by Division of StatistAea*aik4*
Ml
2,525,065
42,1*
170,662
37,284
•
60,531
204,073
m
30,496
6,251
25,831
998,395
2,048
79,490
11,371
49,722
13,615
1,837
128,876
458,774
14,677
143,133
87,997
TREASURY DEPARTMENT
Washington
The Commissioner of Customs today announced preliminary figures for
imports of commodities coming into the United States from the Philippine
Islands, under the quota provisions of the Philippine Independence Act and
the Cordage Act of 1935, for the period January
1
to August 29, 1936, and
the percentage that such imports hear to the totals allowable under the
quotas, as follows*
S u g a r s
Coconut Oil
Refined
Unrefined
Cordage*
_______ (Pounds)
(Pounds)__________(Pounds)_____ ( Pounds)
TOTAL IMPORTS
219,867,851 ' 93,513,242
1,590,972,647 2,525,063
Per cent of Quota _____ 49.1 j
o_________ 83.5jo_____ _______ 88.8^__________. 42.1$
Customs Districts
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Michigan
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Lawrence
St. Louis
San Francisco
Virginia
Washington
Wisconsin
- - - - - - - - - - ----------------8,228,760
3,250,500
22,441,790
- - - - - 36,994,685
117,361,825
- - --- - ----------6,783,872
- - - - - - - - - - - - - - - - - - - - - 24,802,669
- - - - - 3,750
- - - - - -
*Quota year commenced May 1*
- - - - 5,000
----------------18,346,012
499,329
- - - - - ----3,744,293
- - - - - 23,516,923
*
- - - - - - - - - - - - - - - - - - - - 7,136,753
40,264,932
- - - - - -
- - - - - - - 8,948,785
9,016,528
7,917
------------81,623,296
6,604,440
** *#' - •
»
296,373,217
456,864,524
- - - - - - 49,076
602,606,851
- - - - - - - - - - - - - - - - - - - - - - - - 128,878,013
- - - - - - ------------- - - - - - -
170,662
37,284
- - - 60,531
204,073
-30,496
6,251
25,831
998,395
2,048
79,490
11,371
49,722
13,615
1,837
128,876
458,774
14,677
143,133
87,997
TREASURY DEPARTIRENT
Washington
Press Service
No. 8-33
EOE IMMEDIATE RELEASE,
Wednesday, September 9, 1936,
The Commissioner of Customs today announced, preliminary figures for
imports of commodities coming into the United States from the Philippine
Islands, under the quota provisions of the Philippine Independence Act and
the Cordage Act of 1935, for the period January 1 to August 29, 1936, and
the percentage that such imports bear to the totals allowable under the
quotas, as follows!"
Customs Districts
Coconut Oil
________________________ (Pounds)
TOTAL IMPORTS
219,867,851
Per cent of Quota ______ 49.1^
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maryland
Massachusetts
Michigan
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St, Lawrence
St. Louis
San Francisco
Virginia
Washington
Wisconsin
___________
___________
8,228,760
3,250,500
22,441,790
36,994,685
117,361,825
-----------6,783,872
24,802,669
*Quota year commenced May 1
3,750
S u g a r s
Refined
Unrefined
Cordage*
(Pounds)__________(Pounds)_____ ( Pounds) _
93,513,242
1,590,972,647 2,525,063
83.5^
....
88.85p ... ... —
42.lff_
5,000
170,662
37,284
8,948,785
9,016,528
______________________________ 7,917 60,531
204,073
18,346,012
------- ----499,329
81,623,296
30,496
6,604,440
6,251
25,831
----------296,373,217
998,395
3,744,293
456,864,524
2,048
79,490
23,516,923
49,076
11,371
----------602,606,851
49,722
13,615
1,837
128,876
458,774
7,136,753
128,878,013
14,677
143,133
40,264,932
87,997
I m p o r t s of d i s t i l l e d l i q u o r s and w i n e s and
thereon
duties collected
f o r the m o n t h of J u l y 1 9 3 6
have been
isseek r e p o r t e d b y the C o m m i s s i o n e r of C u s t o m s as s h o w n in
the xsszaqsKXL f o l l o w i n g
statement:
«■WHO
June
J u ly
7 Months (Jan.
J u ly
im
|LLED LI&UORS (P r o o f G a llo n s ):
look in Customs Bonded Ware
houses a t b egin n in g
•tal Imports (F ree and D u tia b le )
jail able fo r Consumption
ered in to Consumption (a )
»3*
3, 701,87 6
1 , 042,545
3*9<>4,083
3,522,644
7 2 4 ,7 9 7
523,349
4 ,7 4 4 ,4 2 1
4,688,880
4,045,993
9 8 1 ,5 3 5
9 8 4 ,7 8 4
432,715
4,222,560
6 ,6 0 8 ,3 7 7
10 , 830,937
7 , 022,926
jock in Customs Bonded W arehouses
3 ,7 5 7 ,2 0 9
It end
^ WINES (L iq u id G a llo n s ):
eok in Customs Bonded Warelouses a t b eg in n in g
,
jtal Imports (F ree end D u tia b le )
Sellable fo r Consumption
jtered in to Consumption (a )
o rted fr tn-frnot omff Custody—
look in Customs Bonded Ware
houses a t end
1 , 637,508
1 2 1,859
1 ,7 5 9 ,3 6 7
1 9 7 ,9 5 5
TpfJT""
LING WINES (L iq u id G a llo n s):
look in Customs Bonded Ware
houses a t b eg in n in g
jtal Imports (F ree and D u tia b le )
jsilable fo r Consumption
tered in to Consumption ( a )
■ported,^Crnm finst
nMg1fOdy —
ock in Customs Bonded Ware
houses a t end
on L iquors
1 Outlay
ni. ft* In—
BBoditi es
II D uties C o lle c te d
3 ,7 0 1 ,8 7 6
3 ,5 9 1 ,7 5 0
3 , 757,209
3, 591,750
1 ,7 0 3 ,9 2 5
1 3 0 ,1 5 7
1,540,948
150,236
4, 691,184
145,801
1 , 607,096
1,314,384
1 , 766,588
1,031,481
2, 798,069
1 , 229^451
1,834,082
193,893
—
1 ,2 8 6 ,9 5 3
2 , 894,049
nl
1 , 559,000
1 , 637,508
1,5 4 1,9 4 5
1 , 559,000
1 , 541,945
216,919
15,095
232,014
30,398
234,481
288,091
2 3 2 ,724
1 1 ,4 3 5
246,916
6 ,3 3 3
2 9 4 ,4 2 4
103,360
325,712
73,587
399,299
2 9 ,9 9 5
1 2 ,3 5 3
127,343
/
105,634
336 ,0 8 4
l”1"
11,709
216,919
281,956
201,436
281,956
$ 2 , 443,007
167,409
168,958
1 0 0 ,5 5 1
.. 9 k S § 1 . -
$ 2, 046,321
1 8 0 ,4 5 5
$ 1 7 ,8 3 7 ,2 6 8
$ 17 , 846,362
201,436
3 9 9 ,8 1 7
I Duties C o lle c te d
4, 282,960
3,19 0 ,7 51
7 ,4 7 3 ,7 11
3 , 707,068
(4|8‘
■tfteftjCCfll Custems'-flmefa
|ES COLLECTED ON [stille d L iq u o rs
‘i l l Wines
a rk lin g Wines
Ju ly )
1935
____
1 ,4 8 5 ,9 0 9
583,233____
1 ,5 2 8 ,5 7 5
$ 2 , 660,359 $ 2 ,7 1 0 ,9 6 7
$2,299*274
$ 1 9 ,9 0 6 ,4 1 0
$ 1 9 ,9 9 6 ,6 9 9
28.920*093 29 «610» 547
$ 3 1 ,5 8 0 ,4 5 2 $ 3 2 ,1 2 1 ,5 1 4
2 7 ,4 1 2 ,1 1 9
$ 2 9 ,7 1 1 ,3 9 3
208, 317,804
$228,224,214
I M tP M a M l
»Gent
Including w ith d raw als fo r sh ip s u p p lie s and d ip lo m a tic u s e ,
s ^ n o f S t a t i s t i c s and H esearoh,
TREASURY DEPARTMENT
Washington
September
MEMORANDUM FOR THE PRESS
8,
1936.
RECEIPTS OP SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended.
Week ended September 4, 1936:
Philadelphia ....... ............................. .
689,881.20 fine ounces
San Francisco ........................... ............ 655,888.14
Denver
........................................... .
16,338.71 f
«
Total for week ended September 4, 1936 .............. 1,362,108.05 n
Total Receipts through September 4, 1936............ 99,470,050.50 n
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended September 4, 1936:
Philadelphia .........................
New York ............................
San Francisco ........................
Denver •.. .................... ........
New Orleans ........... ................
Seattle ... «...........................
Total for week ended September 4, 1936 .
Total receipts through September 4, 1936
..
..
fine
165.55 M
___
I!
65.82
I
____
ir
___
ri
..
231.37
112,971,034.32
'*
*
ounces
tt
u
M
$
T1
tl
t!
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ended September 4, 1936:
$
10,349.12
Philadelphia
20,158,500.00
New York
1,280,756.25
San Francisco
33,372.07
Denver
12,648.84
New Orleans
Seattle
Total for week ended Sept. 4, 1936 $21,495,626.28
Secondary
$115,146.69
133,000.00
27,393.86
15,711.03
21,382.48
7,520.07
$320,154.13
New Domestic
$
1,025.78
294,500.00
1,378,320.82
522,835.06
58.34
603.935,50
$2,800,675.50
July
1936
DISTILLED l i q u o r s
(Proof Gallons):
Stock in Customs
Bonded Warehouses
at beginning ..... 3,701,876
Total Imports (Free
and dutiable)..... 1,042,545
Available for Consumption. .......... 4,744,421
Entered into Con
981,535
sumption (a)«,.....
Stock in Customs
Bonded Warehouses
at end .......... . 3,757,209
STILL WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning..... 1,637,508
Total Imports (Free
121,859
and dutiable)......
Available for Consumption........... 1,759,367
Entered into Con197,955
sumption (a).......
Stock in Customs
Bonded Warehouses
at end.......... . 1,559,000
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
216,919
at beginning.....
Total Imports (Free
15,095
and dutiable)......
Available for Con232,014
sumption.... ......
Entered into Con
30,398
sumption (a)......-.
Stock in Customs
Bonded Warehouses
201.436
at end............
DUTIES COLLECTED ON
$2,399,817
Distilled Liquors
168,958
Still Wines
91.584
Sparkling Wines
Total Duties Collec. ted on Liquors
(a)
June
July
7 Months (Jan. - July)
1936_______ 1935__________ 1936_______ 1935
3,964,083
3,522,644
4,222,560
4,282,960
724,797
523,349
6,608,377
3,190,751
4,688,880
4,045,993
10,830,937
7,473,711
984,784
432,715
7,022,926
3,707,068
3,701,876
3,591,750
3,757,209
3,591,750
1,703,925
1,540,948
1,607,096
1,766,588
130,157
150,236
1,286,953
1,031,481
1,834,082
4,691,184
2,894,049
2,798,069
193,893
145,801
1,314,384
1,229,451
1,637,508
1,541,945
1,559,000
1,541,945
234,481
288,091
232,724
325,712
12,435
6,333
103,360
73,587
246,916
294,424
336,084
399,299
29-, 995
12,353
127,343
105,634
216.919
281.956
201.436
281.956
$2,443,007 $2,046,321 $17,837,268 $17,846,362
167,409
180,455
1,485,909
1,528,575
100.551______ 72.498______ 583.233
621,762
$2.660.359 $2.710.967
$2.299.274
$19,906.410 $19.996,699
Including withdrawals for ship supplies and diplomatic use
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday« September 11, 1936«____
9-9-36.
Press
Service
^°* 8-34
Imports of distilled liquors and wines and duties collected thereon
for the month of July, 1936, have been reported hy the Commissioner of
Customs as shown in the following statement:
The Comptroller of the Currency, J. F. T. O'Connor, with the
*
approval of Henry Morgenthau, Jr,, Secretary of the Treasury, has de
signated Frank W. Shanley of San Francisco as Chief National Bank Examiner
for the Twelfth Federal Reserve District,
Mr, Shanley has had extensive
experience in hanking and business and for the past several years has been
assigned to the Twelfth Federal Reserve District as National Bank Examiner
with headquarters in San Francisco,
After receiving his commission as
National Bank Examiner in 1918, which was issued to him after he had success
fully passed the regular examination, Mr, Shanley was offered and accepted a
more attractive position as
cashier with a national bank.
He has been
Acting Chief National Bank Examiner since the resignation of the Chief
National Bank Examiner in the early part of August.
Mr. Shanley received his commission today in Washington, where he
has been transacting business with Treasury officials.
San Francisco the latter part of the week.
00O 00
He will return to
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, September 10, 1936.
Press Service
Ho. 8-*35
The Comptroller of the Currency, J.E.T. O ’Connor, with the approval of
Henry Morgenthau, Jr., Secretary of the Treasury, has designated Prank W. Shanley
of San Prancisco as Chief National Bank Examiner for the Twelfth Federal Reserve
District.
Mr. Shanley has had extensive experience in banking and business and
for the past several years has been assigned to the Twelfth Federal Reserve
District as National Bank Examiner with headquarters in San Prancisco.
After
receiving his commission as National Bank Examiner in 1918, which was issued to
him after he had successfully passed the regular examination, Mr. Shanley was
offered and accepted a more attractive position as cashier with a national bank.
He has been Acting Chief National Bank Examiner since the resignation of the
Chief National Bank Examiner in the early part of August.
Mr. Shanley received his commission today in Washington, where he has been
transacting business with Treasury officials.
the latter part of the week.
ooOoo
He will return to San Prancisco
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
September 10, 1936«
f
'
TO MR. FUSSELL
(Room 289 - Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures on imports of Douglas fir and Western hemlock,
under the quota provisions of the Canadian Trade Agreement, during
the period from January 1 to August 29, 1936.
I
will appreciate it if you will adTise me as soon as this
tabulation has been released, as we have some urgent requests for
this information.
When the tabulation has been mimeographed, kindly have 40
copies forwarded to me at Room 415, Washington Building.
r-
IMPORTS /OF DOUGLAS FIR
PROVISIONS OF,
3 6
WESTERN HEMLOCK UND
CANADIAN TRADE AG:
•ing the period Jafcmry 1 to A
(Ppeliminery^FtgwW^T
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N. H.
Biassachuse tt s
Michigan
New York
Philadelphia
St. Lawrence
San Diego
San Francisco
Vermont
Washington
Sawed Timber and Lumber
Douglas • Western ; .Mixed Fir . .Total Fir
& Hemlock • & Hemlock
Hemlock %
Fir
(Bd. Ft.) • (Bd. Ft.)
* (Bd. Ft.)t (Bd. Ft.) .
55,563,870
22,536,822
258,116
7,738,553
4,249,170
10,270,500
57,998
10,362,074
42,415
5,022,325
10,135,202
19,597
274,995
656
370,001
6,788,468
98,049
2,143,486
399,005
95,064
5,072
14,808,584
*
1,573,972
3,138,900
•
**
89,225
185,465
20,788,085
—
2,958,707
•
17,829,378
*
-
98,888,777
39.6$
_____
356,160
2,958,707
9,876,039
4,648,175
10,365,364
43,070
25,170,658
42,415
24,425,675
13,274,102
19,597
274,995
656
459,226
6,973,933
( P r . p w * * r - DtrtSlSTôFstatlstlee and BMwSefi, BUi— u»«t»gagtoiB«)
■•? rd-^t
£
I
-c -
._
C j i ^ U
-^-^*1 . ' ^ n
..■QuxlJL^
.,i-^{0>
5V
The Commissioner of Customs today announced preliminary figures
for the imports of Douglas fir and Western hemlock, under the quota
provisions of the Canadian Trade Agreement, for the period from
January 1 to August 29, 1936, and the percentage that such imports
bear to the total allowable under the quota, asfollows:
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, September 10, 1936.
Press Service
No. 8-36
The Commissioner of Customs today announced preliminary figures for the
imports of Douglas fir and Western hemlock* under the quota provisions of the
Canadian Trade Agreement, for the period from January
1
to August 29, 1936,
and the percentage that such imports hear to the total allowable under the quota,
as follows:
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
PROM CANADA
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N.H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Diego
San Francisco
Vermont
Washington
Douglas
Fir
(Bd. Ft.)
55,563,870
258,116
**■-*-•7,732,553
4,249,170
10,270,300
37,998
10,362,074
42,415
5,022,325
10,135,202
19,597
274,995
656
370,001
6,788,468
Sawed Timber & Lumber
Western
Mixed Fir
Hemlock
& Hemlock
(Bd. Ft.)
(Bd. Ft.)
22,536,822
20,788,085
98,049
2,143,486
399,005
95,064
5,072
14,808,584
— — — ~
1,573,972
3,138,900
-*
— —
« —
——
_
89,225
185,465
# *•
M
2,958,707
« *, M
ate
— —
M
rt *- M> — —
17,829,378
— ~
_
~
_ _
_ _ ___ _ _
» » » M M
---------
Total Fir
& Hemlock
(Bd. Ft.)
98,888,777
39.6i
356,165
2,958,707
9,876,039
4,648,175
10,365,364
43,070
25,170,658
42,415
24,425,675
13,274„102
19,597
274,995
656
459,226
6,973,933
The Secretary of the Treasury,
Washington, D, C *
Sir:
Complying with your request, I submit below a resume4^ of Treasury
Department law enforcement work for the fiscal year 1936:
The outstanding achievement of the year was the virtually complete
success of operations against alcohol smugglers*
At the end of the fiscal
year, for the first time in sixteen years, not one foreign smuggling craft
m s off the Atlantic Coast of the United States* Since the end of the fis
cal year fifiS hovering vessel^ appeared for a short time but at present the
Coast again is completely clear of smugglers*
The success of the campaign was due to the cooperative action of
friendly foreign governments in restricting the shipment of alcohol and
to the effective coordinated work of Treasury Department agencies, partic
ularly Coast Guard, Customs and Alcohol Tax Unit*
enforcer
against othi
Other highlights of law enforcement work during the year were:
For the first time in many years the amount of counterfeit money
in circulation has been reduced*
Border seizures of liquor and of general merchandise decreased
but seizures of narcotics involved in smuggling operations increased*
However, the quantity of narcotics seized within the United States,
under the Harrison aot, declined*
The number of stills seized in operations against illicit productio
of liquor remained virtually stationary. However, the quantity of mash re
ported in connection with still seizures shov/ed a notable decline and the
number of convictions showed a gratifying increase*
The Secretary of the Treasury,
Washington, D* C*
Sir:
Complying with your request, I submit below a resume^ of Treasury
Department law enforcement work for the fiscal year 1936:
The outstanding achievement of the year was the virtually complete
success of operations against alcohol smugglers*
At the end of the fiscal
year, for the first time in sixteen vears. not one foreicm firmicrr'Hru»* ft-ra-Pt
Following
Secretary Morgenthau by
Secretary
in m a t t e r s
is
the
text
of a
report
s u b m i t t e d to
H a r o l d N. G r a v e s ,A s s i s t ant
relating
to
law enforcement:
to the-
TREASURY DEPARTMENT
Washington
\m RELEASE,
MORNING NEWSPAPERS,
jsundav, September 13. 1906______
foZlO~36,
p ress service
No, 3-37
Following is the text of a report submitted to Secretary Morgenthan by
Harold N. Graves, Assistant to the Secretary in matters relating to law enforcement:
The Secretary of the Treasury,
Washington, D. C,
Sir:
Complying with your request, I submit below a resume of Treasury Department
lav/ enforcement work for the fiscal year 1936:
The outstanding achievement of the year was the virtually complete success
of op orations against alcohol smugglers. At the end of the fiscal year, for the
first time in sixteen years, not one foreign smuggling craft was off the Atlantic
Coast of the United States,
Since the end of the fiscal year one hovering vessel
appeared for a short tim- but at present the Coast again is completely clear of
smugglers.
The success of the campaign was due to the cooperative action of friendly
poreign governments in restricting the shipment of alcohol and to the effective
coordinated work of Treasury Department agencies, particularly Coast Guard, Customs
and Alcohol Trot Unit.
Other highlights of law enforcement work during the year were:
For the first time in many years the amount of counterfeit money in
circulation has been reduced.
• Border seizures of liquor and of general merchandise decreased but
seizures of narcotics involved in smuggling operations increased.
However, the quantity of narcotics seized within the United States, under
hu:-Harrison act, declined.
The number of stills seized in operations against illi cit production of
hquor remained virtually stationary. However, the quantity of mash reported in
Pynricction with still seizures showed a notable decline and the number of conactions showed a .gratifying increase.
Following are "brief citations indicating the status of law enforcement
pork:
Alcohol Smuggling
The number of foreign vessels listed as alcohol carriers, reported
off the Atlantic Coast at any time during each of the months
listed, was as follows:
Month
Fiscal Year
1936
Fiscal year
1935
16
15
19
16
July, 1934
August
September
October
November
December
January, 1935
February
March
April
May
June
Total
July, 1935
12
14
8
10
21
22
18
14
9
January, 1936
22
8
5
5
25
29
31
13
247
2
2
3
92
During July, 1936, there were no hovering vessels and during August only
:h has since withdrawn.
Counterfeiting
The amount of counterfeit currency seized by the Secret Service Division
in each of the last four fiscal years was as follows:
Year
1933
1934
1935
1936
$
Notes
Coins
921,499
1 ,214,279
1 ,418,464
728,750
$72,814
77,959
74,847
67,556'
Total
$ 994,313
1,292,238
1,493,311
796,306
The sharp reduction in counterfeit currency seized during the last year
®ay be attributed in large measure to the arrest and conviction of the notorious
"Count1’ Lustig and his plate maker, William Watts, after years of vigilant work
on the part of Secret Service agents. Approximately 400 persons had been arrested
as. passers* of counterfeit notes, from plate« prepared by Watts, prior to his
apprehension.
Customs Seizures
The number of liquor seizures for violation of customs laws declined from
5,226 in 1935 to 3,252 in 1936, and the quantity of alcohol seized from 138,040
gallons "to 101,604 gallons.
The number of automobiles seized in connection with
liquor smuggling dropped from 303 to 139* the number'of boats from 52 to 37 and
the number of planes from two to one.
The number of narcotics seizures for violation of custom? laws increased .-frond*'
239, valued at $65,663, to 310, valued at $110,129* and the numbef of -automobiles
seized in connection with narcotics smuggling from 91 to 121.
The number of merchandise, seizures decreased from 15,434, valued at $481,816,
in 1935, to 11,079, valued at $589,156, in 1936. There were 363 automobiles, 37
boats and two planes seized for other than liquor violations.
In view of the large quantities of narcotics discovered on vessels from the
Orient vigorous action is now being taken to deal with this situation.
Alcohol Tax Cases
The following preliminary statistics picture the noteworthy improvement in
alcohol tax law enforcement during the past years
fiscal Year
1935________ 1936
Seizures and Arrests
Illicit stills
Av crape capacity (gallons)
Distilled spirits (gallons)
Mash (gallons)
Automobiles
Boats
Appraised value of property seized
Persons arrested
Court results
Persons convicted
Sentences of imprisonment imposed
Length of sentences (days)
Number of fines imposed
Amount of fines
15,712
15,727
182
166
863--,375
794,073
21,373,107
14,610,439
4,837
5,104
25
19
$5,632,145 ' $4,354,945
31,625
32,075
15,108
13,166
4,071,232
8,562
$3,013,851
20,721
17,321
5,759,571
11,907
$4,065,096
Collections of internal revenue from liquor taxes increased from $411,000,000
in 1935 to $505,000,000 in 1936.
Harrison Act. Narcotics Cas of
The number of violations of the Harrison Act reported dwmin ’ 1936 were 5,859,
compared with 6,071 in 1935.
There were 3,333 arrests made under this Act in
Complete data for previous years are not available*
The quantity of narcotics seized under the Harrison Act in 1936 was less than
talf of the quantity seized durihg the previous year, when seizures of smoking opium
here unusually high. The following statistics show the quantities in ounces of drugs
beized in each of the important categories for the last three years!
Drugs
Opium, raw
Opium:, • smoking
Opium, other
Mcrohine
Heroin
Cocaine
Other
1934
1935
252
1,185
Si
386
1,178
205
3
3,230
411
3,727
27
830
1,740
30
Tax Evasion
12
6,777
1936
1,266
1,115
27
242
601
16
13
3,280
0;as es
Intelligence Unit of the Bureau of
Investigation of income tax cases by the !
;rnal Revenue resulted in convictions in 43 cases involving £»5 individuals and
The investigations, including many
iittals in nine cases involving 10 persons.
cases in which criminal prosecutions were not recommended, resulted in recommenda
tion for assessment of additional taxes and penalties aggregating $31,033,499. The
corresponding figure for 1935 was $20,212,161.
Frosecutions in a number of cases also resulted in fines and the costs of
investigations “being covered into the Treasury.
General
The six law enforcement agencies of the Treasury Department
Coast Guard,
[Secret Service, Customs, Narcotics, and the Alcohol Tax and Intelligence Units of
[the Bureau of Internal Revenue - cooperated to great advantage in a number of lines
of work, in addition to the original coordination program in combatting, alcohol
snuggling.
Notable was the increased, activity of the Coast Guard Air force. During the
pear Coast Guard pilots, on patrol and special duty, were highly effective in law
enforcement work, in addition to their 7/ork in protecting life and property at sea.
Four hundred and two stills, located and reported by Coast Guard pilots, were
subsequently seized and destroyed. Planes continued active in discovering and.
[identifying vessels and aircraft suspected as carriers of contraband.
Indicating the
increased activities are the following figures, which cover plane operations, botn
[in protection of life and property at sea and law enforcement duties!
Coast Guard Aviation
Miles cruised
Hours in air
Fiscal Years
1934_________ 1935_________ 1936
219,572
527,756
837,696
2,752
5,709
8,958
Yours respectfully,
/Signed/
Harold N. Graves,
Assistant to the Secretary.
It« O 0 » t 80.ÍA3B,
Tridas. September 11. H 8 t»
9/ll/s¿
Secretary of ti» Trsasnry Ifergaath»» toter MBOwaote ti» subscription
figures and tie tesi» of allotment ter tie eeeh offering of 8-5/* portent
Reports reentre* fro* tie federe! Seeerre bonis show tiot aubserip-
tions ter tie »si offering, »lei was for *400,000.000, or tior»boats,
aggregeto *5,134,000,000.
Subscriptions in eaounts up to end including
*5,0 0 0 sere allotted in full and those in aneante orar *6 ,0 0 0 were
allotted ? percent, bat not lees than *5,000 on any one subscription.
Preliminary reports of exchange subscriptions, in paynent of «bici
Treasury Rotee of Sortes 0-195*. »taring September 15, 1986, ser#
tontera*, inatento tint prnotteolly nil of tio »taring notoe will be
I
exchanged ft* the new bonds«
further detalle ee to subscriptlone and allotment» will be announced
final reporta ara reaoirad fro m tio foderai Beserra banks.
-
5
Four hundred and two stills, located and reported by Coast
Guard pilots, were subsequently seized and destroyed* Planes con
tinued active in discovering and identifying vessels and aircraft
suspected as carriers of contraband. Indicating the increased ac
tivities are the following figures, which cover plane operations,
both in protection of life and property at sea and law enforcement
duties:
Coast Guard Aviation
Fiscal Years
1 9 3 4 ______ 1935______ 1956
Miles cruised
Hours in air
219,572
2,752
527,756
5,709
837,696
8,958
Yours respectfully,
Harold N* Graves,
Assistant to the Secretary*
Harrison Act Narcotics Cases
The number of violations of the Harrison Act reported during 1936
were 5,859, as compared with 6,071 in 1935. There were 3,333 arrests made
under this Act in 1933. Complete data for previous years are not available
The quantity of narcotics seized under the Harrison Act in 1936
was less than half of the quantity seized during the previous year, when
seizures of smoking opium were unusually high. The following statistics
show the quantities in ounces of drugs seized in each of the important
categories for the last three years:
Drugs
Opium, raw
Opium, smoking
Opium, other
Morphine
Heroin
Cocaine
Other
1934
1935
1936
252
1,185
21
386
1,178
205
3
3,230
411
3,727
27
830
1,740
30
12
6,777
1,266
1,115
27
242
601
16
13
3,280
Tax Evasion Cases
Investigation of income tax cases by the Intelligence Unit of The
Bureau of Internal Revenue resulted in convictions in 43 oases involving
55 individuals and acquittals in nine cases involving 10 persons. The in
vestigations, including many cases in which criminal prosecutions were not
recommended, resulted in recommendation for assessment of additional taxes
and penalties aggregating $31,033,499. The corresponding figure for 1935
was $20,212,161#
Prosecutions in a number of cases also resulted in fines and the
costs of investigations being covered into the Treasury.
General
The six law enforcement agencies of the Treasury Department Coast Guard, Secret Service, Customs, Narcotics, andjbhe Alcohol Tax and
Intelligence Units of the Bureau of Internal Revenue cooperated to great
advantage in a number of lines of work, in addition to the original co
ordination program in combatting alcohol smuggling.
Notable was the increased activity of the Coast Guard Air force.
During the year Coast Guard pilots, on patrol and special duty, were
highly effective in law enforcement work, in addition to their work in
protecting life and property at sea.
3
Customs Seizures
clined
seized
seized
number
The number of liquor seizures for violation of customs laws de
from 5,226 in 1935 to 3,252 in 1936, and the quantity of alcohol
from 138,040 gallons to 101,604 gallons. The number of automobiles
in connection with liquor smuggling dropped from 303 to 139, the
of boats from 52 to 37 and the number of planes from two to one.
The number of narcotics seizures for violation of customs laws
increased from 239, valued at $65,663, to 310, valued at $110,129, and
the number of automobiles seized in connection with narcotics smuggling
from 91 to 121.
The number of merchandise seizures decreased from 15,434, valued
at $481,816, in 1935, to 11,079, valued at $589,156,in 1936. There were
363 automobiles, 37 boats and two planes seized for other than liquor
violations.
In view of the large quantities of narcotics discovered on vessels
from the Orient vigorous action is now being taken to deal with this
situation.
Alcohol Tax Cases
The following preliminary statistics picture the noteworthy im
provement in alcohol tax law enforcement during the past year:
Seizures and Arrests
Illicit stills
Average capacity (gallons)
Distilled spirits (gallons)
Mash (gallons)
Automobiles
Boats
t
Appraised value of property
seized
Persons arrested
Fiscal Year
1935
1936
15,712
182
863,375
21,373,107
4,837
25
15,727
166
794,073
14,610,439
5,104
19
$5,632,145
31,625
$4,354,945
32,075
15,108
20,721
13,166
4,071,232
8,562
$3,013,851
17,321
5,759,571
11,907
$4,065,096
Court results
Persons convicted
Sentences of imprisonment
imposed
Length of sentences (days)
Number of fines imposed
Amount of fines
Collections of internal revenue from liquor taxes increased from
$411,000,000 in 1935 to $505,000,000 in 1936.
Following are brief citations indicating the status of lawenforcement work:
Alcohol Smuggling
The number of foreign vessels listed as alcohol carriers,
reported off the Atlantic Coast at any time during each
of the months listed, was as follows:
Fiscal year
1935
Month
16
15
19
16
21
22
18
22
25
29
31
13
247
July, 1934
August
September
October
November
December
January , 1935
February
March
April
May
June
Total
Fiscal Year
1936
14
12
14
8
10
9
8
5
5
2
2
3
92
July, 1935
January, 1936
During July, 1936, there were no hovering vessels and during
August only Am »* which have* since withdrawn.
Counterfeiting
The amount of counterfeit currency seized by ‘the Secret Service
Division in each of the last four fiscal years Was as follows:
Year
1933
1934
1935
1936
Notes
$
921,499
1,214,279
1,418,464
728,750
Total
Coins
$72,814
77,959
74,847
67,556
$
994,313
1,292,238
1,493,311
796,306
The sharp reduction in counterfeit currency seized during the
last year may be attributed in large measure to the arrest and convic
tion of the notorious "Count" Lustig and his plate maker, William Watts
after years of vigilant work on the part of Secret Service agents. Ap
proximately 400 persons had been arrested as passers of counterfeit
notes, from plates prepared by Watts, prior to his apprehension.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE*
Friday, September 11, 1936.
Press Service
No. 8-38
Secretary of the Treasury Morgenthau today announced the subscription
figures and the basis of allotment for the cash offering of 2-3/4 percent
Treasury Bonds of 1956-59.
Reports received from the Federal Reserve banks show that subscriptions
for the cash offering, which was for $400,000,000, or thereabouts, aggregate
$5,134,000,000.
Subscriptions in amounts up to and including $5,000 were
allotted in full and those in amounts over $5,000 were allotted 7 percent, but
not less than $5,000 on any one subscription.
Preliminary reports of exchange subscriptions, in payment of which Treasury
Notes of Series D-1936, maturing September 15, 1936, were tendered, indicate
that practically all of the maturing notes will be exchanged for the new bonds.
Further details as to subscriptions and allotments will be announced
when final reports are received from the Federal Reserve banks.
ooOoo
TREASURY DEPARTMENT
Washington
Press Service
No. 8-39
EOR IMMEDIATE RELEASE
Friday, September 11, 1936.
The Commissioner of Customs today announced preliminary figures for the
imports of cattle, cream and seed potatoes, under the quota provisions of the
Canadian Trade Agreement, for the period January 1 to August 29, 1936, and the
percentage that such imports hear to the totals allowable under the quota pro
visions, as followsî
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
PROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
Cattle
Under 175
Pounds
(Head)
Cattle 700
Pounds or
More
(Head)
143,361
92.0#
:Dairy Cows
:700 Pounds
t Or More
i (Head)
4,008
:
:
iCream
i(Cal.)
! White or
¡Irish Seed
» Potatoes
; (Pounds).
8,382
20,671,843
45.9$
20 . 0#
11
52,500
27,325
3,537
21,853
231
69
562
6,764
39,287
906
1,328
3,133
92,650
180
2,147,915
,
1 780,374
144,510
31
22
494
290
384
2,250
17,209
493
4,008
123,010
8,284
1,244,375
7,517
7,075
5,702
57
20,351
(a) The quota on this class of cattle has been filled.
86.000
8,382
20,671,843
&
Secretary Morenthau
today made
the
following
statement :
In a press
National
Committee
newspapers
this
and
a
i s s u e d b y the
given vide
statement
"Secretary
has
release
publicity
Republican
in t o d a y ' s
appears:
the
of
n e p h e w -on t h e p a y r o l l
of
Treasury^Morgenthau
th e A g r i c u l t u r a l a d j u s t m e n t
A d m i n i s t r â t i o n .”
'-‘■'his s t a t e m e n t
*
is u n t r u e .
The Commissioner of Customs today announced preliminary
figures for the imports of cattle, cream and seed potatoes, under
the quota provisions of the Canadian Trade Agreement, for the
pdriod January 1 to August 29, 1936, and the percentage that such
imports bear to the totals allowable under the quota provisions,
as follows:
Customs Districts
♦
• Cattle
• Under 175
: Pounds
(Head)
TOTAL IMPOSTS
Per Cent of Quota
THOM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
FROM MEXICO
Arizona
11 Paso
San Antonio
San Diego
Total from Mexico
(a)
(a)
: Cattle 700
: Pounds or
: Mord
: (Head)
143,361
92.0#
:
:
: Cream
: (Gal.)
: White Or
: Irish Seed
: Potatoes
: (Pounds)
4,008
2 0 .0#
8,382
mm
20,671,843
45.9$
1
11
•
800
38
11
•
mm
60
•*
26
**
—
•
52,500
•
92,650
180
2,147,915
•
1,780,374
144,510
: Dairy Cows
: 700 Pounds
: Or More
: (Head)
27,325
3,537
21,853
231
69
562
6,764
39,287
906
1,328
3,133
22
494
290
17.209
31
•
•*
384
2,250
•
493
8,284
-
580
•
1,244,375
86,000
123,010
4,006
8,382
20,671,845
7,517
7,075
5,702
57
•
•
—
•
20,351
-
-
The quota on this class of cattle has been filled
•
1
•
•
•
•
15,122,759
—
-
'0RTS\T5P CATTLE UNDER QUOTA PROVI
^V.JJANADIAN TRADE AMEWf^
anuary 1 t o August 15 , I 331
nary F igu res
D uring th e
Customs D i s t r i c t s
TOTAL IMPORTS
P ercen t o f Quota
OP THE
C a ttle
Under 175
Pounds
(Head}
(* )
C a ttle 700
Pounds
Or More
(Head}
D airy Cows
700 Pound8
Or More
(Head)
1 4 1 ,2 0 0
3,606
lö cv ^
PROM CANADA
B u ffa lo
Chicago
Dakota
D uluth A S u p erior
Maine & N.H.
Maryland
Mas sachus e t t s
M ichigan
M innesota
Montana & Idaho
New York
Oregon
P h ila d e lp h ia
St* Lawrence
Vermont
W ashington
T o ta l from Canada
PROM MEXICO
A rison a
El Paso
San A ntonio
San D iego
T o ta l from Mexico
(a )
2 6 ,3 8 6
1
3*502
-
2 1,8 3 2
23I
11
¿7
702
562
- - -
38
6,642
«
3 8 ,8 5 5
306
1 ,3 2 8
3 * 10 2
22
423
«
m
31
.
m
230
1 6 ,5 8 6
311
2 ,1 0 8
404
1 2 1 ,3 4 0
3,6 0 6
7*151
6 ,3 5 0
5*702
m
— ---------------------------------------- §2___________
13,860
The q uota on t h i s c l a s s o f c a t t l e has been f i l l e d .
................... ..i w n »»mw»wr
, Bureau o f Customs]
m
m
OFFICE OF THE COMMISSIONER OF CUSTOMS
September 11, 1936»
TO MR. FUSSELL
(Room 2Ô9 - Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release shoeing
imports of cattle, cream and seed potatoes under the quota pro
visions of the Canadian Trade Agreement, during the period from
January 1 to August 29, 1936.
When the tabulation has been mimeographed, please have 50
copies forwarded to me at Room 415, Washington Building.
Sta
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS
September
14 ,
1936«
RECEIPTS OE SILVER 3Y THE MINTS AND ASSAY OFFICES;
(Under Executive Proclamation of December 21, 1933) as amended
Week ended September 11, 1936:
Philadelphia...... .......................,........
840,745-26 fine ounces
ri
n
San Francisco......................................
438,667-29
it
it
Denver...... ......................................
10 «202-87
fl
«
Total for week ended September 11, 1936............
1,289,615,42
ti
it
Total receipts through September 11, 1936.......... 100,759,665,92
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended September 11, 1936:
Philadelphia..................... , ............... .
- - - _
New York.. *....... ............... ................
2,444.65 fine ounces
San Francisco...... ........ .......................
^
it
it
Denver.............. ...............................
59.58
New Orleans........................... .......... .
Seattle ............................................
„ „ _ „
»I
IT
3,504,23
Total for week ended September 11, 1936............
It . II
Total receipts through September 11, 1936.......... 112,974,538.55
RECEIPTS OF GOLD 3Y THE MINTS AND ASSAY OFFICES:
New
Week ended September 11, 1936:
__ Imports_______ Secondary
Domestic
Philadelphia................ ..... . $
13,661.24 $~83,938.91 $ '
765,55
New Y o r k .... .....................
6,641,200.00
82,700.00
38,300.00
San Francisco........... .........
480,473.99
25,519*20 2,340,362.26
Denver..... .......................
13,313.63
12,282.79
568,425.28
New Orleans...................... *
273.85
8,542.59
134.95
Seattle................ .......... .
10.298.94
405.151.21
Total for week ended September 11,.. $7,148,922.71 $223,282.43 $3,353,139.25
TREASURY DEPARTMENT
Washington
POR IMMEDIATE REESASE,
Saturday, September 12, 1936*
Press Service
No,. 8- 40
Secretary Morgenthaii today made the following statement:.
In a press release issued by the Republican National
Committee and given wide publicity in today*s newspapers this
statement appears?:
HSecretary of the Treasury Henry Morgenthau, Jr, has a
nephew on the payroll of the Agricultural Adjustment Administration*
This statement is untrue*.
ooOoo
(T. B.
)
TAX ON UNJUST
(WINDFALL TAX)
TITLE III OF TEE RSV2NÜS ACT OF 1936
Extension of Time for Filing Return»
and Faying Tax
TREASURY DEPAimSENT
Office of Commissioner of Internal Revenue
Washington, 0. Q*
TO COLLECTORS OF XlTSfAh R I V W 1
AND OTHERS CONCIENEO:
The first paragraph of Treasury Decision 4689, approved
August 26, 1936 (Int. Rev. Bull. XV-35, 14) Is hereby amended
to provide as follows:
"Pursuant to the provisions of section 53 and sec
tion 503 of the Revenue Act of 1936, an extension of
time for such period as may be necessary, but not later
than December 15, 1936, is hereby granted for the fil
ing of returns and paying the tax under Title 111 of
the Revenue Act of 1936, for any taxable year ended on
or before August 31, 1936."
This Treasury Decision is issued under the authority
prescribed by sections 53, 62, and 503 of the Revenue Act of
1936.
Commissioner of Internal Revenue.
Approved:
Secretary of the Treasury.
Y
For Publication
Federal Register Series No.
immediate release
Secretary Morgenthau today approved a Treasury Decision granting an
extension of time for payment of the tax under Title III of the
Hevenue Act of 1935 (the unjust enrichment tax) from September 15 to
December 15 of this year, A previous Decision, dated August 26, 1935,
extended the time for filing returns but did not extend the date of payment.
The effect of the decision approved today is to relieve taxpayers of
per cent interest from September 15 to the date of payment•
The Decision follows;
6
C O M P O S IT IO N
IN T ER ES T -B EA R IN G
In
1930
1931
I932
P U B LIC
Per C e n t
1933
O F
D EBT O U T S T A N D IN G
of T o t a l
1934
1935
1936
1937
PER
C EN T
PER
CENT
90
90
80
80
70
70
60
60
50
50
40
40
30
30
20
20
10
10
1930
1931
1933
Note: September, 193b Figures Represent
Office of the Secretary of the Treasury
Division o f Research and Statistics
August
1934
Figures
os Adjusted
1935
1936
1937
for September IS Financing
B -S
0-A
-1
OF
A V E R A G E LENGTH OF M A T U R IT Y
IN T ER EST-BEA R IN G
P U B L IC DEBT
Q u a rte rly , 1930 to 1936
Note
E xclu siv e o f C on sols, P o s ta l S a v in g s, U .S. S a v in g s B o n d s , A d ju s t e d S e r v ic e
B o n d s a n d s p e c ia l is s u e s to G o v e rn m e n t a g e n c ie s a n d t r u s t f u n d s .
* Aug. 31;-a d ju ste d to give e ffe c t to S e p t 15 fin a n c in g .
Office of the Secretary of the Treasury
Division of Research and Statistics
r-
63
Table III
Interest-Bearing Public Del)t by Maturity Classes, 1933 to 193&.
with Liberty Bonds Shown Separately
•
June 30*
Maturity
(in years) I
1933
'
.. —*—
* June 30*
;
193^
* June 30t
;
1935
l
L
June 30*
1936
•
! August 31,
! 1936 1 /
(In millions of dollars)
Liberties
8,201
6,3*46
1.335
Less than 1
1 - 5
5-15
15 and over
3.305
3.78*4
*4,379
1.3*1
3.913
3.89>+
5.755
6,321
3.090
Total
21,179
25,1406
w»f
8,366
14,175
9,559
6,877
5.885
JLÆ3.
3.61*2
10,393
8.593
8.779
26,2147
30,960
31,1*07
9,**27
Percentage Distribution
—
Liberties
38.7
25*0
5.1
Less than 1
1 - 5
5-15
15 and over
15*6
20.7
6*5
18.5
15.3
22.6
2*U9
12.2
lU.14
31.9
22.14
25.2
Total
100*0
100.0
100*0
100.0
26.2
13.5
30.9
30.U
—
11.6
33.1
27.1*
JM
100.0
Treasury D e p a r t m e n t, Division of Research and Statistics, September 12, 193o*
Adjusted to give effect to September 15 financing»
Note*
Bxclusive of Consols, Postal Savings, United States Savings, and
Adjusted Service Bonds, and of special issues to governmental agencies
end trust funds»
Table 11
Interest-Bearing Public Debt by Maturity Classes,
1933 to 1936
Maturity
(in years)
5 June 30»
:
1933
*
;
June 30»
1934
1
!
_»
June 30.
*935
--
5
;
*
June 30.
1936
* August 311
; 1 9361 /
•
_..
(In millions of dollars)
Less than 1
1 - 5
5-15
15 and over
3.305
Total
21,179
4,379
9,5*2
3.913
3 .89H
10 ,16s
8.25U
3.781*
9.701
6,877
5.885
u .175
9.55?
9.^7
7.819
3 .6U2
10,393
25 ,Uo 6
26,2^7
30.9*0
3 1 .U07
13.5
30.?
30.4
25.2
11.6
33*i
..?.7t2
100.0
100.0
^ ¡m
*,593
,*,»,713.
Percentage Distribution
Less than 1
1 - 5
5-15
15 and over
15.6
20.7
U5.2
JL*i5
Total
100.0
15.3
Uo.o
32.5
100.0
l^.u
37.0
26.2
100.0
27.4
Treasury Department, Division of Research and Statistics, September 12, 1935*
l/
Adjusted to give effect to September 15 financing.
Note:
Exclusive of Consols, Postal Savings, United States Savings, and
Adjusted Service Bonds, and of special issues to governmental agencies
and trust funds.
Table I
Average Length of Maturity of Interest-Bearing Public Debt
Quarterly, 193° ~ ^93^
With Liberty and Panama
Canal Bonds Computed to
Date of Actual Call
Years
:
Months
Month
Ended
With Liberty and Panama
Canal Bonds Computed to
Original Maturity Date
_ Years
|
Months
Dec.
1929
S
1
li
3
Mar.
June
Sept.
Dec.
1930
1930
1930
1930
7
7
7
7
10
9
11
10
10
10
1
11
10
6
Mar.
June
Sept.
Dec.
1931
1931
1931
1931
7
7
S
g
k
10
10
11
10
O
g
3
10
Mar.
June
Sept.
Dec.
1932
1932
1932
1932
70
O
10
3
Mar.
June
Sept.
Dec.
1933
1933
1933
1933
6
r
O
r
O
5
5
0
0
6
7
g
if
0
r
O
11
g
r
6
9
9
g
6
1
11
2
11
10
2
g
g
g
g
1
0
1
If
7
g
7
7
Mar. 193^
June 193U
Sept. 193U
Dec. 193^
5r
D
6
7
If
3
6
b
7
7
7
7
Mar.
June
Sent.
Dec.
1935
1935
1935
1935
7
g
g
g
7
7
9
7
g
g
g
g
Mar.
June
Aug.
1936
1936
1936 1 /
g
9
9
11
g
li
3
g
9
9
3
Hote;
\J
11
9
9
7
s
Exclusive of Consols, Postal Savings, U, S. Savings Bonds,
Adjusted Service Bonds, and special issues to Government
agencies and trust funds.
Adjusted to give effect to September 15 financing.
Secretary Mergenthau - 9/lU/36 - 3
A further consideration that must not he ignored in interpreting
the lengthening of maturities during the last two years is the fact that
the process of lengthening the average maturity is partly a race against
timet The maturity of an unchanged debt becomes one year shorter each
year. Hence, the increase that has been accomplished is a net increase \
in addition to that needed merely to compensate for the lapse of
As may be seen in Tables II and III, In which the public aeot
is analyzed by maturity classes, the largest absolute and percentage
increase has taken place in obligations maturing in between one and
five years, a classification which now includes nearly one-third of the
interest-bearing public debt, with the exclusions already noted. This
fact is of considerable significance, for if conditions remain substan
tially as favorable as they are now, we will be able to refund this
large fraction of the public debt on far better terms than were possible
even a year ago«
Between June 30* 3.933 a&dpresent time, we have reduced the
percentage of the debt maturing in less than one year from 15*6 to
11*6« and we have increased the percentage maturing in 15 years or
over from 18*5 to 27*9 » The medium-term debt, maturing in 5 to 15
years, now constitutes 2J*k percent of the total, as compared with
percent, inclusive of Liberty bonds, and 6*5 percent exclusive
of the Liberty bonds, on June 30» 3.933»
5* The existing distribution of the interest-bearing public debt
by maturity classes is now being given special study with a view to
the recommendation of desirable changes in distribution in the light
of the requirements of the Social Security Act, the statutory Sinking
Fund, and the needs of governmental trust funds, as well as general
considerations of sound fiscal policy.
Attachments
Secretary Morgenthau - 3/lb/^S - 2
in such deposits that had resulted from the enormous reduction of hank
loans*
(Between the end of 1929 and the end of 1932# total member
hank deposits had declined hy more than $9 billions*) Bank purchases
of Government securities had the effect of directly increasing the
total volume of hank deposits; and short-term obligations were greatly
preferred hy hanking institutions to longer-term securities* Longerterm bonds with high—coupon rates* moreover, hy appealing to institu
tional and individual investors, would have tended to absorb savings
that might otherwise he made available for industry. These considerat
i o n s in favor of a large use of short-term securities appear to have
been justified; Between June 30# 1933 end December 3^» 193^* member
bank holdings of Government securities increased by a little more than
$3 billions, and their total demand deposits by about $3 »8 billions.
Narrower financial considerations also dictated a large reliance
upon short-term issues during the calendar years 1933 end 193^» *
Interest rates, though declining, were maintained at relatively high
levels during 1933 and the early months of I93 U because of a variety
of uncertainties arising mainly out of foreign developments, uncer
tainties that made for erratic movements* In September 1933* for
example, the average yield on all long-term IT* S* Treasury bonds was
3*20 percent; by December it had moved -up to 3*53 percent; by May 193^*
it had fallen to 3*01 percent, only to rise again to 3*20 percent in
September 193 H* Further, the large-scale financing of the recovery and
relief program had to be undertaken concurrently with the enormous
volume of Liberty bond refunding, refunding that was highly desirable,^
nevertheless, because of the high-coupon rates or tax-exemption priyi^
leges of the Liberty bond issues* With fundamental factors giving
promise of a substantial decline in interest rates, it l a s ^ m s e policy,
therefore, to resort very substantially to short-term financing during
the first two years of the present Administration*
3.
(gince the end of 193H, a very substantial increase has taken
place in the average length of maturity of the interest-bearing public
debt* The August 3 1 , 1936 average, adjusted to give effect to the
September 15 financing, is 9 years and 8 months, as compared with 7
years and 7 months at the end of I93 U. This increase in average matur
ity is the more striking because it has been accompanied by a pronounced
reduction in the interest rates paid by the Treasury* The average yield
on long-term Treasury bonds was 3*66 percent in 1932 # 3*3^ percent in
1933, and 3*10 percent in 193^. In 1935 and 1936# no Treasury bonds
were offered to yield more than 2.875 percent to the earliest call date.
Just over $5 billions of Treasury bonds were issued carrying a coupon
rate of only 2*75 percent; $2,6ll millions carried a coupon rate of
2.875 percent; and $211 millions of 3 percent bonds of a previous issue
were sold at auction to yield an average of about 2.6H percent*
TREASURY DEPARTMENT
IN T E R
O F FIC E
C O M M U N IC A T IO N
date
TO
Secrets
FROM
Mr* Haas
Subjects
**
September lU, 1936
than
Maturity of Public Debt
1* The accompanying chart and Table I portray the average length
of maturity of the interest-bearing public debt at the end of each
quarter from December 3 1 , 1929 to August 3 1 , 1936, with the figures for
the latter date adjusted to give effect to the September 15 financing*
Tables II and III show the interest-bearing public debt by maturity
classes at the end of the fiscal years 1933
193^ inclusive, and on
August 3 1 * 1936# with the figures for the latter date adjusted to give
effect to the September 15 financing*
Because of the great volume (approximately $8*3 billions) of highcoupon or fully tax-exempt Liberty end Panama Canal bonds called for
redemption in the fiscal years 193^ and 1933 » i't has seemed desirable
to portray the changes in the average length of maturity with the matur
ity of the latter computed as of the date of actual call as well as the
date of original maturity, in the chart and Table I; and to show the
maturity classes with the Liberty bonds segregated, as well as dis
tributed with the other obligations, in Tables II and III* To avoid
undue complexity, the Consols, Postal Savings, United States Savings,
and Adjusted Service bonds, and special issues to governmental agencies
and trust funds, have been excluded from the computations*
2* At the close of the calendar year 1931» the average length of
final maturity of the interest-bearing public debt, with the exclusions
noted, was 10 years and 10 months* During the next 2j calendar years,
the average length of final maturity fell almost steadily, reaching a
low of 7 years and U months at the end of March 193^* At this date,
the average maturity was only 5 years and 7 months, if the actual call
dates of the Liberty and Panama Canal bonds be regarded as their matur
ity dates* Between September 1931 and June 1933* Federal financing was
confined exclusively to notes, bills, and certificates* During the
calendar year 193^» the average length to final maturity of the public
.arge use of
short-term rather than long-term securities for the Federal financing
of the calendar years 1933 sad 193^« Monetary considerations consti
tuted one of these* It waé^highly desirable to increase the aggregate
volume of bank deposits in order to compensate for the drastic deflection
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Monday, September 14, 1936,
Press Service
No, 8-41
Secretary Morgenthau today approved a Treasury Decision granting an ex
tension of time for payment of the tax under Title III of the Revenue Act of 1936
(the unjust enrichment tax) from September 15 to December 15 of this year.
A
previous Decision, dated August 26, 1936, extended the time for filing returns
but did not extend the date of payment.
today is to relieve taxpayers of
6
The effect of the decision approved
per cent interest from September 15 to the
date of payment.
The Decision followsi
(T.D.
)
TAX ON UNJUST ENRICHMENT (WINDFALL TAX)
TITLE III OF THE REVENUE ACT OF 1936
Extension of Time for Filing Returns
and Paying Tax
TREASURY DEPARTMENT
Office of Commissioner of Internal Revenue
Washington, D,C,
TO COLLECTOR OF INTERNAL REVENUE
AND OTHERS CONCERNED:.
The first paragraph of Treasury Decision 4689,. approved
August 26, 1936 (int. Rev*. Bull. XV-35, 14) is hereby amended to provide
as follows;
MPursuant to the provisions of section 53 and sec
tion 503 of the Revenue Act of 1936, an extension of time
for such period as may be necessary, but not later than
December 15, 1936, is hereby granted for the filing of re
turns and paying the tax under Title III of the Revenue Act
of 1936, for any taxable year ended on or before August 31,
1936.»
This Treasury Decision is issued under the authority prescribed by
sections 53, 62, and 503 of the Revenue Act of 1936.
GUY T. HELVERING
Approved:
HENRY MORGENTHAU, JR.
Secretary of the Treasury.
Commissioner of Internal Revenue.■
IT: BE
WS
MB. SECRETARY:
The attached proposed Treasury Decision, submitted herewith Tor
your consideration with the re commendat ion that it he approved, has
been prepared for the purpose of amending the first paragraph of
Treasury Decision 4689, approved August 26, 1936,. (Xnt. Rev. Bull.
XY-35, 14), relating to the tax on unjust enrichment under Title III
of the Revenue Act of 1936, so as to grant an extension of time for
such period as may he necessary, hut not later than December 15, 1936,
to persons subject to the provisions of that title for the payment of
the tax for any taxable year ended on or before August 31, 1936, as
well as for
ng returns tinder that title for such taxable years*
Since as provided in article 35 of Regulations 95 prescribed
under Title III of the Revenue Act of 1936, an extension of time for
filing a return does not operate to extend the time for the payment
of the tax or any part thereof, unless so specified in the extension,
the time for paying the tax was not extended by Treasury Decision 4689.
Section 503(c) of the Act provides in effect that if an extension of
time is granted for the payment of the tax under Title III there shall
be collected, as a part of any amount with respect to which an exten
sion is granted, interest thereon at the rate of 6 percent per annum
only from the expiration of six months aftsr the due date thereof to
the expiration of the period of the extension* 'The extension of time
provided by Treasury Decision 4689 was granted for the reason that the
return form to be filed under Title III has not been completed, and
for the further reason that there is such great detail and complexity
involved in computing the unjust enrichment tax. It was estimated
that the regulations and return forms will not be available to the pub
lic in sufficient time for filing returns earlier than the period granted
by the extension* The same reasons exist for granting an extension of
time for the payment of the tax as exist for granting an extension of
time for the filing of the returns* It is not believed, therefore, that
the taxpayers should be required to pay 6 percent interest on the tax
which would otherwise be required if the extension for paying the tax
were not granted*
Commissioner*
BB/mlf
TREASURY DEPARTMENT
WASHINGTON
Press Service
FOR RELEASE, MORNING NEWSPAPERS,
$r—
9/14/36
Secretary o f the Treasury Morgenthau announced la s t
evening th at the tenders for 150,000,000, or thereabouts, of
273-day Treasury b i l l s , dated September 16, 1936, and maturing
June 16, 1937, which were offered on September 11, were opened
at the Federal Reserve banks on September 14#
The to ta l amount applied for was 1104,697,000, o f
which |50,022,000 was accepted*
Except fo r one bid o f #50,000
the accepted bids ranged in price from 99*905, equivalent to
a rate o f about 0*125 percent per annum, to 99*881, equivalent
to a rate o f about 0*157 percent per annum, on a bank discount
b a s is .
Only part of the amount b id for at the la t t e r price
was accepted.
The average p rice of Treasury b i l l s to be
issued i s 99*889 and the average rate i s about 0*146 percent
per a m
m on a bank discount basis*
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tnogflay, September 15. 1936.
9/14/36
Press Service
8—42
Secretary of the Treasury Morgenthau announced last evening
that the tenders for $50,000,000, or thereabouts, of 273-day Treasury "bills,
dated September 16, 1936, and maturing June 16, 1937, which were offered
on September 11, were opened at the Federal Reserve banks on September 14«
The total amount applied for was $104,697,000, of which
$50,022,000 was accepted.
Except for one bid of $50,000, the accepted
bids ranged in price from 99*905, equivalent to a rate of about 0,125 percent
per annum, to 99*881, equivalent to a rate of about 0^157 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 to be issued is
99,889 and the average rate is about 0*146 percent per annum on a bank
discount basis.
TRZASOrar DSPABTkKBT
mahington
roa
Trass Sertica
BMEDIATB SSLIASS,
Tuesday. September 18. 1936
9/15/36
**
Sacrata17 of the Treasury Morganthau today announced the final «ibscriptiea
and allotment figuras with rsspaat to the currant offering of 8-3/4 partant Traasury
Bonds of 1956-59.
Subscriptions and allotunts «ara ditidad aaong tha «atarai federal Bcscm
districts and the Treasury «a follona i
federai assarts Total Cash
District
SubscriptIona
Rscaited
Boston
Haw York
Philadelphia
Clatolead
Hiohnond
Atlanta
Chicago
St. Ionia
Minneapolis
Kansas City
Dallas
San francisco
Treasury
# 496,377,180
496,37?,190
8,708,60S,800
8,708,803,800
308,586,380
308,884,380
868,343,080
160,703,980
160,703,990
188,898,300
487,873,880
487,378,880
140,798,800
140,788,800
63,016,800
96,683,180
86,488,880
868,889,700
268,285,700
8.308.880
Total Oaah
Subscriptions
Allotted
Total snhange
Subscriptions
Racaitad
(Allotted in full)
8 10,906,800
6 40,119,700
307,088,700
800,819,030
17.881.000
86,870,700
11,099,500
88,109,880
34,808,800
17,904,880
7,688,500
18,508,500
78,877,100
49,68^680 tsro
7,130,900
83,886,780
18.179.000
9,833,480
6,668,800
15,514,250
3,881,000
17,888,380
17,176,300
88,787,880
1811,860,805
Total
Subscription*
A llotted
f 81,086,800
807.601.750
46,691,700
39.208.750
58.406.750
89,988,000
188.887.750
30,387,650
81,418,480
88,177,050
80,809,350
39,938,150
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, September 15, 1936.
Press Servico
No. 8-43
Secretary of the Treasury Morgenthau today announced the final subscription
and allotment figures with respect to the current offering of
2- 3/4
percent
Treasury Bonds of 1956-59.
Subscriptions and allotments were divided among the several Eederal Reserve
districts and ther Treasury as follows:
Federal Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmaad
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Balias
San Francisco
Treasury
TOTAL
Total Cash
Subscriptions
Received
Total Cash
Subscriptions
Allotted
$
496,377,150 $ 40,119,700
2,703,503,200 200,519,050
302,554,350
26,870,700
265,343,050
28,109,250
160,703,950
17,904,250
122,892,300
18,502,500
427,875,850
49,650,650
140,758,800
23,226,750
63,016,800
9,233,450
94,683,150
15,514,250
86,422,550
17,258,350
262,285,700
22,757,850
3.305.850
298.500
$5,129,722,700 $469,965,250
ooOoo
Total Exchange
Subscriptions
Received
(Allotted in full)
$ 10,904,500
307,082,700
17,821*000
11.099.500
34.502.500
7,425,500
75,877,100
7,130,900
12,179,000
6,662,800
3,251,000
17,174,300
750,000
$511,860,800
Total
Subscriptions
Allotted
$ 51,024,200
507.601.750
44,691,700
39.208.750
52.406.750
25,928,000
125.527.750
30,357,650
21,412,450
22,177,050
20,509,350
39,932,150
1.048,500
$981,826,050
Draft 2
PRESS RELEASE
The Treasury Department announced today «tn connecLLuil wiun its
firptamb i l rilT fUn
i "t'1'f
f 1^ " U n i t e d
States Savings bonds
are to be offered for sale through two additional fiscal agencies —
Federal Savings and Loan Associations and Federal Credit Unions.
Any
of these organizations which duly qualifies and which has a membership
U ¿IM1k<rnU(<fr
3un,\f±t*f*
of 500 or more, will, receive applications and remittances for* and
* -H u
rtu ^
.
^
to
■
make delivery of ^ Dav»nsgAbonds^ swehvtransactions^.to be nandled only
in connection with purchases by
embers of the respective organizations.
?e ________
^ 9
organizations within this category, having
altogether there are
ffii
an aggregate membership of more than
■At
rrt t s a v i n g ?
bonds a^e sold only through Post Offices, Federal Reserve Banks, or by the
Treasurer of the United States, upon applications filed direct or through
the mail*
In exercising his statutory authority to jpequire these duties of the
T H | ~‘ fiscal agencies Mwedpwed, the Secretary of the Treasury is seekm.
i SB |
to carry out his program of widespread distribution of pavings Bonds, in
harmony with two of the basic purposes
and the Federal Credit Union Act.
jof
the Home Owners Loan Act of 1933
JSoth of these Acts speak not only of th
promotion of thrift, but also of/xhe establishment of a further market for
1 Stc
Q*
O
3thor
and Credit Uni oiis, by the very nature of t'
no oecause oi
The Secret?iry expresses his belief th
heS(3 statutory ]provisions, are in a unique
position to perfornySa real service in t
and. for their owsr members.
ard, both for the United States
PRESS RELEASE
The Treasury Department announced today that United States
Savings bonds are to be offered for sale through two additional
fiscal agencies —
Federal Savings and Loan Associations and
Federal Credit Unions.
Aiy of these organizations which duly
qualifies and which has a membership of 500 or more, will be
authorized to receive applications and remittances for Savings
Bonds and to make delivery of the bonds.
These transactions are
to be handled only in connection with purchases by members of the
respective organizations.
Altogether there are 292 organizations within this category,
having an aggregate membership of more than 500,000.
Heretofore,
Savings Bonds have been sold only through Post Offices, Federal
Reserve Banks, or by the Treasurer of the United States, upon appli
cation filed direct or through the mail.
Authority to designate Federal Savings and Loan Associations
and Federal Credit Unions as fiscal agents of the Government was
conferred bn the Secretary of the Treasury by the Home Owners Loan
Act
and the Federal Credit Union Act.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Thursday« September 17« 1956.
9/16/56.
Press Service
No, 8-44
The Treasury Department announced today that United States Savings
Bonds are to "be offered for sale through two additional fiscal agencies —
j
Federal Savings and Loan Associations and Federal Credit Unions#
Any of
these organizations which duly qualifies and which has a membership of 500
or more, will be authorized to receive applications and remittances for
Savings Bonds and to make delivery of the bonds.
These transactions are
to be handled only in connection with purchases by members of the respective
organizations.
Altogether there are 292 organizations within this category, having
an aggregate membership of more than 500,000,
Heretofore, Savings Bonds
have been sold only through Post Offices, Federal Reserve Banks, or by the
Treasurer of the United States, upon application filed direct or through
the mail.
Authority to designate Federal Savings and Loan Associations and Federal
Credit Unions as fiscal agents of the Government was conferred on the
Secretary of the Treasury by the Home Owners Loan Act and the Federal Credit
Union Act,
ooOoo
lì'
.
S'- / r
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to September
5, 1936, and the percentage that such imports bear to the totals
allowable under the quota provisions, as follows:
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
September 16, 1936*
TO MR. FUSSELL
(Room 289 - Treasury Department )
FROM MR. JREEMAN:
There is attached a tabulation for immediate release showing
imports of cattle under the quota provisions of the Canadian Trade
Agreement, during the period from January 1 to Septenber 5, 1936.
When the tabulation has been mimeographed, please have 50
copies forwarded to me at Room 415, Washington Building.
-4
6/ S
Customs District
T a m IMPORTS
Per Cent of $uota
FBOM
(a)
Cattle 700
Pounds
Or More
(Head)
:
:
:
:
Dairy Cows
700 Pounds
Or More
(Head)
144,411
92.7$
4,103
20.5$
27,418
3,562
21,853
231
71
562
6,829
39,361
906
1,328
3,133
22
529
290
17,960
1
11
832
38
31
384
2,270
536
124,055
4,103
7,517
7,080
5,702
57
•
•
-
20,356
-
OMAHA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine 5c N. H*
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
PR CM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
(a)
: Cattle
: Under 175
: Pounds
: (Head)
The quota on this class of cattle has been filled.
/
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, September 16, 1936,
Press Service
No. 8-45
The Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement,
for the period January
1
to September 5, 1936, and the percentage that such
imports bear to the totals allowable under the quota provisions, as follows:
Customs District
TOTAL IMPORTS
Per Cent of Quota
PROM CANADA
Buffalo
Chicago
Dakota
Duluth & Sun er ior
Maine & N.H
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
Hew York
Oregon
Philadelphia
St, Lawrence
.Vermont
Washington
Cattle
Under 175
Pounds
(Head)
Cattle 700
Pounds
Or More
'¿Head)
(a)
144,411
-9S.7#
27,418
3,562
21,853
231
71
562
-- - - «
6,829
39,361
906
1,328
3,133
22
. ___
529
290
17.960
124,055
......
Tm™, T°tal from Canada
PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
(a)
7,517
7,080
5,702
57
20,356
The quota on this class of cattle has been filled.
ooOoo
Dairy Cows
700 Pounds
or more
(Head)
4,103
___________ 20.54
1
•» M M
11
•M — —
832
» ~ «
38
_
31
«*.. ^
»
384
2,270
536
4,103
, , 1M
_
no*
)(
— — _
M ^ M
add malaria x x x and approvala
«
by the W,P.A«, and the Public Health Service©
Drainage for elimination of malaria transmitting mosquitoes-Dro Parran
pointed out, is a highly specialized drainage problem© Such drainage works"** are not
;
extensive or genagnlly an Twwgn as agricultural drainage systems
or flood control
rch< are designed to dissipate ^completely^ r e s i dual waters p n six or
works^fchey
seven
days©
As the aquatic stages in mosquito development under favorable conditions
require
from eight to ten days ^ the removal of the se
the
""prevents ■'11
metamorphosis of the eggs of
sKor
The malaria transmitting mosquito of the United States,Dr©Parran observed,
requires clean quiescent waters such as lakes and ponds which contain "floatage” or
small drift
for
protection
of the larva© and pupae from natural enemies and
which serves as an important source of food supply. Such waters may also be found I
in swampy areas from which timber has been removed and into which sufficient
sunlight is allowed to enter©
Because these technical features had to be considered before a successful
program could be undertaken, Dr .Parran said, the Public Health Service placed trains! I
supervisors at the disposal of state health departments not equipped with such
personnel, and augmented the trained personnel in those states in which large
amounts of work were contemplated.
federal
Malaria control work has been advanced by a 40 year average through/draina
projects « supervised by the United States Public Health Service, LLr"H U If"—
r
^"ftT^HinitTnrTh Surgeon General Thomas Parran
tod a y x ^ l .
ilifiiwaia^.1 rmpnarts
|
in
Vw
T~)ii11t~j ii_ ~l lii^jtlirnr years^hese projects have been operated bybfche P.Yf.A., thj
P.W.A., and the E.R.A., , Dr* Parran estimates that 22,000 miles of ditches have
malaria transmitting mosquito^-g^,
been constructed , eliMmtThg^'S40i:000.abres"o^fbreedlhg areasjfand affording prote)
from malaria to approximately 14,000,000
persons in
states*
Malaria control drainage projects under supervision of the Public Health
n/
/
iV//
' /
to Virginia,North and South Carolina,Georgia]
^
y
s/
v
V
I
/
V
Florida, Alabama,Missis sippi, Arkansas ,Tennes see, Kentucky, Illinois ,Mis s ouri,Texas,
isjps-M#
Service,
been confined £
J.
w r ib iy
' »—
J
Oklahoma and Louisiana,
^
y
W.3
nn 1 if »«*»*■■ and along the Rio Grande Valley "inHetT]
Numerous useful land drainage and pest mosquito control projects have been|
conducted by local and state agencies in states not in the malaria belt,Dr*Parran
or technically supervised
pointed out, but projects of this kind have not been 1»'approved,/as malaria control
drainage projects by the Public Health Service^ Notable among these projects for ot|
purposes have been flood control and pest mosquito control projects in the New
England states sponsored by local agencies and operated by the state and local
W.PI
organizations*
Before a malaria control drainage project is presented to the Public ^ealtj
proposal
Service for final approval, Dr «Parran explained, the gg^gztoonxxk originates^ in
A u
i
the state!, selected and sponsored by t he state health department concerned* Often|
a local community requests a project and its state health department takes the
application for review* Before project^ ...... ....... ..... m l miP the State health
departments survey^its health and ijBCJi technical aspects* The necessary data are
collected and compiled ,and a project is prepared* The state W.P.A*, administrator
A
must approve the project with special reference to labor,materials, and other
¿»AA
operative features* The grfoject.is then forwarded to Yfashington, for review and ap]
-3-
administrator approves the project, with special reference to
labor, materials, and other operative features.
The project is
then forwarded to Washington for WPA and Public Health Service
review and approval*
The Public Health Service approves and extends technical
supervision only to worthy malaria control projects which have been
investigated and sponsored by the health department of the State
in which the proposed project is located*
Numerous useful land drainage
and pest mosquito control projects have been conducted by local and
State agencies in States not in the malaria belt, but projects of this
kind have not been approved as malaria control drainage projects or
technically supervised by the Public Health Service* Notable among
these projects for other purposes have been flood control and pest
mosquito control projects in the New England states sponsored by
local agencies and operated by the State and local WPA organizations*
The accomplishments of the emergency relief malaria control
drainage projects are impressive* During the three years which
they have been operating it is estimated that 22,000 miles of ditches
have been constructed, resulting in eliminating about 340,000 acres
of anopheline breeding areas and affording protection from malaria
to approximately 14,000,000 persons*
The State health officers in
the malarious states estimate that these projects have advanced ma
laria control work in their states from 20 to 80 years, with an over
all average of 40 years* The prevention of many cases and deaths
from malaria with attendant elimination of expense for medical care
and loss of income from the debilitating disease malaria not only
add malaria x x x
W.P.A**
and the Public Health Service«
Drainage for elimination of malaria transmitting mosquitoes,Dr.Parran
pointed out, is a highly specialized drainage problem« Such drainage works^are not
lojjwgo as agricultural drainage systems or flood control
extensive
works« They are designed to dissipate residual waters completely in six or seven
days« As the aquatic stages in mosqdito
development under favorable conditions
require from eight to ten days the removal of these waters within a shorter period
prevents the metamorphosis of the eggs«
The malaria transmitting mosquito of the United States:,Dr«Parran observedj
requires clean quiescent waters such
or smally±
as lakes and ponds which contain ’’floatage"
drift for protection of the larvae and pupae from natural enemies and
which serves as an important source of food supply« Such waters may also be found
in swampy areas from which timber has been removed and into which sufficient
sunlight is allowed to enter«
Because these technical features had to be considered before a successful
program could be undertaken,Dr «Parran said* the Public Health Service placed
trained supervisors at the disposal of state health departments not equipped with
such personnel* and augmented the trained personnel in those states: in which large
amounts of work were contemplated«
-o«
FOR RELEASE, MORNING NEWSPAPERS
ipdajL^H&eptember 20« 1956»
\j-J-JL {K/Q*AAS\~*A
■
n
1/j Q d M ^ W k
'
" V w iff «
V
Malaria control work has been advanced by a 40 year average through feder
drainage projeots supervised by the United States Public Health Service* Surgeon
j
General Thomas Parran said today*
In the past three years during which these projects have been operated by
the C*W.A**the P*W.A., and the E*R.A*, Dr*Parran estimates that 22*000 miles of
ditches have been constructed»eliminating 340*000 acres of breeding areas used by
malaria transmitting mosquitoes and affording protection from malaria to
!k stateso
approximately 14,000*000 persons in ^
Malaria control drainage projects under supervision of the Public Health
Service have been confined to Virginia*North and South Carolina*Georgia,Florida*
Alabama,Mis sissippi*Arkansas,Tennessee* Kentucky, II lino is,Mis souri, Texas, Oklahoma,
Louisiana and a section of New Mexico along the Rio Grande Valley*
L
Numerous useful land drainage and pest mosquito control projects have bep
conducted by local and state agencies in states not in the malaria belt,Dr#Parran|
proposed,
pointed out* but projects of this kind have not been/approved or technically
supervised as malaria control drainage projects by the Public Health Service*
_
J
Notable among these project's for other purposes have been flood control!
and pest mosquito control projects in t he New England states sponsored by local I
agencies and operated by the state and local W.P.A., organizations*
Before a malaria control drainage project is presented to the Public
Health Service for final approval,Dr*Parran explained,the proposals originates in
the state being selected and sponsored by the state health department concerned*
/
Often a local
community requests a project and its state health department takes
the application for review* Before a project is applied for the State Health depaij
surveys its health and technical aspects* The necessary data are collected and cop
and a project application is prepared# The state W.P.A*,administrator must approve
the project with special reference to labor*materials*and other operative features!
The application then is forwarded to Yfashington*for review and approval by the T
m-o-r-e
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treasury department
WASHINGTON
Press Service
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
Sunday. September 30. 1936.— .—
H o . 8-46
9/16/36
Malaria control work has been advanced by a 40 year a v e r s e through
• ,t* supervised hy the United States Public Health Service,
federal drainage projects supervisee. y
surgeon General Thomas Parran said today.
In the past three years during which these projects have been op3 ,£
c » A
the P. W. A., and the E, E. A., Dr. Parran estimates
erated by the C. w. a , , to*, jt.
that 22,000 miles of ditches have been constructed eliminating 340,000 acres
breeding areas used by malaria transmitting mos.uitoes and affordrng
.protection from malaria to approximately 14,000,000 persons in 16 states.
M a l i i a control drainage projects under supervision of the Public
r.. a 4.«
Health Service have been confine
t
t
N orth and South Car0-^n a »
a
’
.
Mississippi, Arkansas, Tennessee, Kentucky, Illino'
Georgia, Florida, Alabama, Mississipp ,
a
n„f4nn nf New Mexico along the Rio
Missouri, Texas, Oklahoma, Louisiana and a
Grande Val1 © y •
Numerous useful land drainage and pest mosquito control projec s
•
nn o+ntps not in the malaria
have been conducted by local and state agencies
• +
this kind have not been proposed,
belt, Dr- Parran pointed out, but projec
a
moinria control drainage projects by
approved or technically supervised as malaria
the Public Health Service.
Notable among these projects for other purposes have been
trol and pest mosquito control projects in the He. England states
local agencies end operate. *
the . * . *
^
'• »> *'
-
2
-
Before a malaria control drainage project is presented to the Public
Health Service for final approval, Dr . Parran explained*, the proposal originates
in the state being selected and sponsored by the state health department con
cerned.
Often a local community requests a project and its state health de
partment takes the application for review.
Before a project is applied for the
State Health department surveys its health and technical aspects.
The necessary
data are collected and compiled, and a project application is prepared.
The
state W. P. A., administrator must approve the project with special reference
to labor, materials, and other operative features.
The application then is
forwarded to Washington, for review and approval by the W. P. A., and the
Public Health Service.
Drainage for elimination of malaria transmitting mosquitoes, Dr.
Parran pointed out, is a highly specialized drainage problem.
Such drainage
works generally are not as extensive as agricultural drainage systems or
flood control works.
in six or seven days.
They are designed to dissipate residual waters completely
As the aquatic stages in mosquito development under
favorable conditions require from eight to ten days the removal of these
waters within a shorter period prevents the metamorphosis of the eggs.
The malaria transmitting mosquito of the United States, Dr. Parran
observed, requires clean quiescent waters such as lakes and ponds which con
tain "floatage” or small drift for protection of the larvae and pupae from
natural enemies and which serves as an important source of food supply.
Such
waters may also be found in swampy areas from which timber has been removed
and into which sufficient sunlight is allowed to enter.
Because these technical features had to be considered before a suc
cessful program could be undertaken, Dp. Parran said, the Public Health Service
placed trained supervisors at the disposal of state health departments not
equipped with such personnel, and augmented the trained personnel in those
states in which large amounts of work were contemplated.
TREASURY DEPARTMENT
■mm
Washington
Press Service
No.-Mr
OR IMMEDIATE RELEASE,
oàn&ückiyi J u ly frül’rt'froo»
.
/
8-fi
Net market purchases of Government securities for Treasury investment
CUm
accounts for the ca].endar month of Jksiot 1936, amounted to flOOptOD^i^Q,
Acttwg Secretary
’"T’
vvtrt-
announced today.
■{ w w < i
00O 00
•$>
ip cj\\iso
TREASURY DEPARTMENT
WASHINGTON
FOR IMMEDIATE RELEASE,
Thursday. September 17. 1936.
Press Service
No. 8— 47
Net market purchases of Government securities for Treasury
investment accounts for the calendar month of August, 1936, amounted to
$3,794,850, Secretary Morgenthau announced today.
0O 0-
4 -
constitutes 27.4 per cent of the total as compared with 45.2 per cent,
inclusive of Liberty bonds and 6.5 per cent exclusive of the Liberty
bonds, on June 30, 1933.
Since 1932 the largest increase, both absolute
and pe rcentage, has taken place in obligations maturing in between one
and five years, a classification which now includes nearly one-third of the
interest-bearing public debt, excluding such special obligations as Postal
Savings, United States Savings and Adjusted Service bonds and special
issues to governmental agenoies and trust funds.
This fact is regarded
as of considerable significance since, if conditions remain substantially
as favorable as they are now, it will be possible to refund this large
fraction
of the public
debt on far better terms than were
a year ago.
P
ul
C&
.
/
_ uft— r.
6^-
I.
possibl^/
- 3 -
investors, would have tended to abs orb savings that might otherwise be
made available for industry.
These considerations in favor of a large
use of short-term securities appea: to have been justified*
Between
June 30, 1933, and December 31, 191 4, member bank holdings of Government
securities increased by a little m< re than #3 billions, and their total
IP
flmuiaiafr• deposits by about
billions*
Narrower financial considerations also dictated a large reliance
upon short-term issues during the calj^tidar years 1933 and 1934#
Interest
rates, though declining, were mainlined at relatively high levels during
1933 and the early months of IJSfM bdcauso of a variety of uncertainties
arising mainly out of f o re^n devel< pments, uncertainties that made for
erratic movements*
In September 19i 3, for example, the average yield on
all long-term U. S. ^easury bonds ia.s 3*20 per cent; by December it had
moved up to 3*53 p^r cent; by May 2(93^, it had fallen to 3*01 per cent,
only to rise ag^dn to 3*20 per cent ih September 1934*
Further, the large-
f
dcale financing of the recovery and relief program had to be undertaken
concurrently with the enomous volume of Liberty bond refunding, refunding
that was highly desirable, nevertheless, because of the high coupon rates
or tax ^xemption privileges of the ¿Lberty bond issues*
With fundamental
factor^ giving promise of a substantial decline in interest rates, it was
considered wise policy, therefore, tl resort very substantially to shortter^
on*
/
Between June 30, 1933, and the present date, the percentage of the
debt maturing in less than one year has been reduced from 15*6 to 11*6
and the percentage maturing in fifteen years or more has been increased from
18*5 to 27*9*
The medium term debt maturing in five to fifteen years nctf
—
2
—
compensate for the lapse of time*
At the close of the calendar year 1951 the average length of final
maturity of the interest-bearing public debt, excluding Consols and
O.CC.J SyK stsc-ic-f
A*
vZ-A-o\A f~
t
Postal Savings bonds, was ten years and ten months*
During the next tvro
A
and one quarter calendar years the average length of final maturity fell
almost steadily, reaching a low of seven years and four months at the end
of March, 1934*
At this date the average maturity was only five years
and seven months, if the actual call dates of the Liberty and Panama Canal
bonds be regarded as their maturity dates*
Between September 1931 and
June, 1933, Federal financing was confined exclusively to notes, bills,
and certificates*
Thiraap the culuMCfySgr^lOBly ^he average length to
final maturity of the public debt was increased only slightly, to seven
^
years and s even months
^
J J
^ V,
A number of important factors lictated a continuing large use of
short-term rather than long-term secu rities for the Federal financing
of the calendar years 1933 and 1934*
one of these*
Monetary o ohsi de rations constituted
It was thought highly desirable to increase the aggregate
volume of bank deposits in ordexvro c mpensate for the drastic deflation
in such deposits that had^Wsulted fr on the enormous reduction of bank
loans*
(Between the ß
of PQ29 and
deposits had declined by more tl
he end of 1932, total member bank
$9 billions*)
Bank purchases of Govern-
ment securities had the effeot of dir *ctly increasing the total volume of
/
\
bank deposits; and short-term obligal ionaswere greatly preferred by banking
institutions to longer-term securities*
Longer-term bonds with high
coupon rates, moreover, by appealing to institutional and individual
TREASURY DEPARTMENT
Washington
Press Service
No. 8-
As a result of the substitution of bonds for notes in recent
Treasury financing, the .long-term obligations of the United States now»
A
(m G a jL^ T
t—
&£u *44a »4 Brk M
-constitute 55*3 per cent of the entire public debt,(Secretary Horgentnau
announced today.
A
A
On June 30, 1935, the proportion of long-term securities,
that is bonds with a maturity upwards of five years, was 48*6 per cent
and
on June 30, 1934 it was 44.7 per cent*
There has been at the same time a substantial increase in the average
length of maturity of the interest bearing public debt.
The August 31,
1936, average, adjusted to give effect to the September 15th financing,
is nine years and eight months as compared with seven years and seven months
at tfao end-ef-~1934»
This increase in average maturity has been accompanied
by a pronounced reduction in the interest rates paid by the Treasury.
The
average yield on long-term Treasury bonds was 3.66 per cent in 1932j 3.31
per cent in 1933 and 3.10 per cent in 1934*
In 1935 and 1936 no Treasury
bonds were offered to yield more than 2.875 per cent -to tho e arl ie-st^trKll
¿ata ; slightly more than five billions of Treasury bonds were is sued cariying a coupon rate of only 2*75 per cent; #2,611 millions carried a coupon
rate of 2.875 per cent and #211 millions of three per cent bonds of a
previous issue were sold at auction to yield an average of about 2*64 per eeu
The Secretary called attention to the fact that the extension of
maturities involves the factor of a race against time since the natality
of an unchanged debt becomes one year shorter each year.
Tbs increase that
lias been accomplished is a net increase in addition to that needed to
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Sundayt September 2Q f.1,936,
9/17/36.
Press Service
No. 8-48
As a result of the substitution of bonds for notes in recent Treasury
financing, the proportion of long-term obligations of the United States was
further increased to 515,3 per cent of the entire interest-bearing public debt,
exclusive of Postal Savings, U, S. Savings, and Adjusted Service Bonds, and of
special issues to governmental agencies and trust funds, Secretary Morgenthau
announced today.
On June 30, 1935, the proportion of long-term securities,
that is bonds with a maturity upwards of five years, was 48.6 per cent and
^n June 30, 1934, it was 44.7 per eent.
There has been at the same time a substantial increase in the average
length of maturity of the interest-bearing public debt.
The August 31, 1936,
average, adjusted to give effect to the September 15th financing, is nine
years and eight months as compared with seven years and seven months on
December 31, 1934.
This increase in average maturity has been accompanied
by a pronounced reduction in the interest rates paid by the Treasury.
average yield on long-term Treasury bonds was 3.66 per cent in 1932;
per cent in 1933 and 3.10 per cent in 1934.
The
3.31
In 1935 and 1936 no Treasury
bonds were offered to yield more than 2.875 per cent;
slightly more than
five billions of Treasury bonds were issued carrying a coupon rate of only
2,75 per cent;
$211
$2,611 millions carried a coupon rate of 2.875 per cent and
millions of three per cent bonds of a previous issue were sold at
auction to yield an average of about 2.64 per cent.
-
2
-
The Secretary called attention to the fact that the extension of ma
turities involves the factor of a race against time since the maturity of an
unchanged debt becomes one year shorter each year.
The increase that has
been accomplished is a net increase in addition to that needed to compensate
for the lapse of time.
At the close of the calendar yea** 1931 the average length of final
maturity of the interest-bearing public debt, excluding Consols and Postal
Savings bonds, and special issues to Government Trust Funds, was ten years
and ten months.
During the next two and one-quarter calendar years the
average length of final maturity fell almost steadily, reaching a low of
seven years and four months at the end of March, 1934,
At this date the
average maturity was only five years and seven months, if the actual call
dates of the Liberty and Panama Canal bonds be regarded as their maturity
dates.
Between September, 1931, and June, 1933, Federal financing was con
fined exclusively to notes, bills, and certificates.
The average length to
final maturity of thé public debt was increased only slightly, to seven years
and seven months by the end of the calendar year 1934,
Between June 30, 1933, and the present date, the percentage of the
debt maturing in less than one year has been reduced from 15,6 to 11,6 and
the percentage maturing in fifteen years or more has been increased from
18,5 to 27,9,
The medium term debt maturing in five to fifteen years now
constitutes 2?,4 per cent of the total as compared with 45,2 per cent, in
clusive of Liberty bonds and 6,5 per cent exclusive of the Liberty bonds,
on June 30, 1933,
Since 1932 the largest increase, both absolute and
3
-
percentage, has taken place in obligations maturing in between one and five,
years, a classification which now includes nearly one-third of the interestbearing public debt, excluding such special obligations as Postal Savings,
United States Savings and Adjusted Service bonds and special issues to govern
mental agencies and trust funds.
This fact is regarded as of considerable
significance since, if conditions remain substantially as favorable as they
are now, it will be possible to refund this large fraction of the public debt
on far better terms than were possible even a year ago.
The attached graph shows the composition of the interest-bearing
public debt in percentages from 1930 to the present date.
— oOo—
treasury deparboht
Washington
Press Service
9/21/36
Secretary o f the Treasury Morgenthau announced l a s t evening
that the tenders for 150,000,000, or thereabouts, of 273-day
Treasury b i l l s , dated September 23, 1936, and maturing June 23,
1937, which were offered on September 18, were opened at the
Federal Reserve banks on September 21«
The to ta l amount applied for was $132,397,000, o f which
150,022,000 was accepted*
The accepted bids ranged in price
from 99*910, equivalent to a rate o f about 0*119 percent per
annum, to 99*877, equivalent to a rate of about 0*162 percent
per annum, on a bank discount b a sis.
Only part o f the amount
bid fo r a t the l a t t e r price was accepted*
The average price
o f Treasury b i l l s to be issued is 99.881 and the average rate
i s about 0*156 percent per annum on a bask discount basis*
TREASURY DEPARTMENT
Washington
OK RELEASE, MORNING- NEWSPAPERS,
esday. September 22. 1936.
-21-36
Press Service
No# g_49
Secretary of the Treasury Morgenthau announced last evening that the tenders
»
[or $50,000,000, or thereabouts, of 273-day Treasury hills, dated September 23, 1936
^nd maturing June 23, 1937, which were offered on September 18, were opened at the
federal Reserve banks on September 21.
The total amount applied for was $132,397,000, of which $50,022,000 was
accepted.
The accepted bids ranged -In price from 99.910, equivalent to a rate of
ibout 0.119 percent per annum, to 99.877, equivalent to a rate of about 0.162 perjent per annum, on a bank discount basis.
•atter price was accepted.
Only part of the amount bid for at the
The average price of Treasury bills to be issued is
r*^81 and the average rate is about 0.156 percent per annum on a bank discount
iasis.
ooOoo
Sta
September 22, 1936
TO MR. FtJSSELL
(Room 289 - Treasury Department)
FROM MR* FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures for the imports of cattle under the quote pro—
visions of the Canadian Trade Agreement, during the period from
January 1 to September 12, 1936.
When the tabulation has been mimeographed, please have 50
copies forwarded to me at Room 415, Washington Building.
JM
4
Customs District
Cattle
Under 175
Pounds
(Head!
Cattle 700
Pounds
Or More
(Head)
Dairy Covs
700 Pounds
Or More
(Head)
(a)
144,976
93,1#
4,243
21*«
TOTAL IMPORTS
Per Cent of Quota
PROM CANADA
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and N* H*
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St* Lawrence
Vermont
Washington
27,492
3,562
21,853
231
71
562
~
6,891
39,488
906
1,328
3,133
1
11
839
«*
38
•
4»
549
290
18,210
33
•
•
«
391
2,317
613
Total from Canada
PROM MEXICO
Arizona
11 Paso
San Antonio
San Diego
124,588
4,243
Total from Mexico
20,588
(a)
(
22
7,522
7,080
5,729
57
ae
m
ae
ae
epe
The quota on this class of cattle has been filled*
-of-Customs)
K
'
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions
of the Canadian Trade Agreement, for the period January 1 to
September 12, 1936, and the percentage that such imports bear
to the totals allowable under the quota provisions, as follows:
TREASURY DEPARTMENT
Washington
POR IMMEDIATE REIEASE,
Tuesday, September 22, 1936*
Press Service
No, 8-50
The Commissioner of Customs today announced preliminary figures for
the imports of cattle under the quota provisions of the Canadian Trade
Agreement, for the period January 1 to September 12, 1936, and the percentage
that such imports beai to the totals allowable under the quota provisions, as
follows:
Customs District
TOTAL IMPORTS
Per Cent of Quota
Cattle
Under 175
Pounds
_____ (Read)_____
Cattle 700
Pounds
Or More
(Head)
(a)
144,976
93,1$
PROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N.H,
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia,
St, Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
7,522
7,080
5,729
57
20,388
(a)
Dairy Cows
700 Pounds
or More
(Head)
4,243
2 1 .2$
1
27,492
3,562
21,853
231
71
562
~
_
11
— «
839
— — ~
'*¿4'.' m*é —•
22
*f*’V*&**
549
290
18,210
124,588
391
2,317
613
4,243
The quota on this class of cattle has been filled.
ooOoo
38
6,891
39,488
906
1,328
3,133
~
_
~
„
_
33
—,
_
_
-
- -
TREASURY DEPARTMENT
Washington
memorandum
for
the p r e s s
September 21, 1936
RECEIPTS OP SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended September 18, 1936:
Philadelphia................ .
San Francisco ....................... . .
Denver ................................,
Total for weekended September 18, 1936...
Total receipts through September 18, 1936
339,989.13 fine ounces
705,566.55
«
»
______ 8.441.97
" 11
1,053,997.65
,f
"
101,813,663.57
”
”
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended September 18, 1936:
Philadelphia ............................ ........
446.95 fine ounces
New York ........ ............ ....................
179.85
M
,r
San Francisco.....................................
Denver ....... ................................ .
New Orleans ......................................
Seattle ..........................................
626.80 fine ounces
Total for week ended September 18, 1936...........
tl
t!
Total receipts through September 18, 1936......... . 112,975,165.35
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:.
.
New
Week ended September 18, 1936:
Imports
Secondary______ Domestic
$ 93,110.29 $--------Philadelphia................. $ 8 , 7 0 6 . 3 9
New York ........
27,773,100.00 134,500.00
302,800.00
San Francisco..... ................
540,498.30
20,549.001,968,358,10
Denver ..................
49,879.28
17,846.69
783,604.12
New Orleans .......
282.79
31,286.73
113.47
Seattle ............. .............. ...............
7,065.62
674.355.15
Total for week ended September 18,...$28,372,466.76 $304,358.33 $3,729,230.84
R e l e a s e for M o r n i n g N e w s p a p e r s
S e p t . 23, 1 9 3 6
9-22-36
Commissioner
A
-^O
G u y T. H e l v e r i n g o f the
income tax
B u r e a u of I n t e r n a l R e v e n u e a n n o u n c e d c o l l e c t i o n s of $ 2 8 3 , 6 0 7
1936,
A
f o r the p e r i o d S e p t . 1-21, . i n c l u s i v e .
Th4h
£
c0-1-1w t T D i r d q u a r f f e r T f ^ n
1.1 rufiatt
period
of a y e a r ago,
1Q35,
income
tax
Sept.
collections
By
were
1-20,
In the
inclusive,
585
comparable
±k®
$226,352,401.47.
collection
districts
the
collections
for the
F o rm
6919-A
TREASURY DEPARTM ENT
I nternal R even u e B u reau
A c c o u n t a n d C o l l e c t io n s U n it
Comparative Statement of Income Taxes Collected September 1 - 2 0 . inclusive. 1955.
and September 1-21. inclusive. 1956.
Revised June 1934
(Based on Telegraphic Reports from Collectors)
D IST R IC T S
Deposited
Deposited
Sept. 1-20,1935 Sept. 1-21,1936
Est.Dndeposited Est.Dhdeposited
Sept. 1-30,1935 Sept. 1-21.1936
Total
1935
Ì
A labam a,
575,901.07
Arizona,
125,130.05
258,888.55
Arkansas,
1st California,
Clear
207,560.09
334,992.42
Clear
125,130.05
258,888.55
334,992.42
7,690,194.07
Clear
7,690,194.07
1,801,588.86
Clear
Clear
1,467,045.44
1,801,588.86
4,860,237.90
6,291,813.75
Clear
Clear
4,860,237.90
Delaware,
6,291,813.75
5,307,297.23
6,236,770.30
Clear
Clear
5,307,297.23
Florida,
6,236,770.30
1,444,815.15
2,704,414.04
Clear
Clear
1,444,815.15
Georgia,
2,704,414.04
1,463,150.08
1,528,569.93
1,556,278.53s1
Clear
Clear
Clear
1,463,150.08
1,528,569.93
1,556,278.53*
252,525.86
Clear
20,636,273.62
Clear
Clear
Clear
130,986.07
16,575,684.97
20,636,273.62
6,993,669.34
854,563.32
130,986.07
16,575,684.97 I
Clear
854,563.32
252,525.86
8th Illinois,
1,092,715.36
1,585,584.04
Clear
Clear
1,092,715.36
Indiana,
1,585,584.04
3,308,729.36
4,244,855.92
Clear
3,302,729.36
4,244,855.92
Iowa,
1,020,732.34
1,533,278.28
Clear
Clear
Clear
1,020,732.34
Kansas,
1,533,278.28
891,698.60
Clear
756,264.50
1,604,605.83
891,698.60
2,273,077.88
Clear
Clear
Clear
Kentucky,
756,264.50
1,604,605.83
Louisiana,
2,273,077.88
1,219,233.13
1,366,979.02
Clear
Clear
1,219,233.13
1,366,979.02
669,179.64
733,526.50
Clear
Clear
669,179.64
733,526.50
5,762,965.31
Clear
Clear
4,986,143.77
5,762,965.31
9,233,478.65
12,398,103.22
Clear
Clear
9,233,478.65
12,398,103.22
11,370,482.40
Clear
Clear
Clear
Clear
11,370,482.40
2,500,083.00
18,251,312.35
3,138,243.00
2,500,083.00
18,251,312.35
3,138,843.00
Mississippi,,
157,508.59
254,961.80
Clear
Clear
157,508.59
254,961.80
1st Missouri,
4,384,907.58
4,213,786.51
Clear
Clear
4,384,907.58
4,213,786.51
6thJ^dissouri,
1,685,777.11
1,883,158.10
Clear
Clear
1,685,777.11
1,883,158.10
301,749.31
Clear
Clear
756,182.39
Clear
Clear
241,413.41
793,588.78
301,749.31
Nebraska,
241,413.41
793,588.78
Nevada,
286,596.35
Clear
3 1 9 .S Ô S .3 3
496,866.75
Clear.
Clear
226,596.35
New Hampshire,
319,368.33
511,827.48
496,866.75
511,827.48
1,516,473.31
11,021,381.25
Minnesota,
lontana,
1st New Jersey,
VS^UOfl
5th New Jersey,
TU W S
New Mexico,
TU# 1
1st New York,
2d New York,
3d New York,
4,986,143.77 ,
1,516,473.31
Clear
756,182.39
1,438,226.74
9,713,433.64
Clear
Clear
Clear
11,021,381.25
Clear
1,438,226.74
9,713,433.64
94,008.77
124,414,86
Clear
Clear
94,008.77
124,414.86
4,073,245.00
33,610,649.82
4,516,487.00
Clear
Clear
Clear
Clear
4,073,245.00
4,516,487.00
33,610,649.82
42,887,286.19
Clear
28,105,125.40
Clear
22,795,092.05
3,431,997.70
42,887,286.19
28,105,125.40
14th*New York,
22,795,092.05
3,431,997.70
4,658,243.97
Clear
Clear
21st New York,
1,227,565.20
1,037,573.63
Clear
Clear
1,227,565.20
1,037,573.63
28th New York,
4,096,894.37 ;
Clear
3,542,115.95
Clear
Clear
Clear
4,096,894.37
North Carolina,
4,874,001.15
3,436,577.34
3,542,115.95
4,874,001.15
3,436,577.34
71,579.84
90,324.76
Clear
Clear
71,579.84
90,324.76
Clear
Clear
Clear
3,999,797.03
1,377,989.40
4,411,444.67
North Dakota,
1st Ohio,
reipnj
10th Ohio,
3,999,797.03
1,377,989.40
CI
Uth Ohio,
911,620.07
oqspi
18th*Ohio,
5,624,189.60
creasH
Oklahoma,
2,064,766.69
540,179.65
^ST
[S M O Ö f)
207,560.09
1,467,045.44
Michigan,
CI
609,167.34
Clear
Clear
8,626,390.63
Maryland, including
Dist. of Columbia,
Massachusetts,
^ 8
575,901,07
6,277,218.80
Maine,
121101
Clear
6,993,669.34
1st Illinois,
!usirB2
Clear
Clear
Idaho,
>14u© 2
609,167.34
Clear
H a w a ii,
Giiiupt
isino'i
*
8,626,390.63
Connecticut,
•S TŒ
y
6,277,218.80
Colorado,
TSSIpî
Quuiyi
?iqoipî
ressuyi
T" ' -- 1
Clear
6th California,
'H v$s
'H
!H *U|
rpBAGJtf
-ujqQij
Total
1936
Oregon,
j t j o iæ
4,411,444.67 ,
2,167,597.60
1,012,374.47
4,658,243.97
Clear
Clear
Clear
Clear
Clear
5,624,189.60
Clear
689,513.98
Clear
Clear
Clear
2,064,766.69
540,179.65
11,187,592.77
12,875,562.68
Clear
Clear
11,187,592.77
689,513.98
12,875,562.68
7,854,558.82
2,626,813.19
911,620.07
2,167,597.60
1,012,374.47
7,854,558.82
2,626,813*19
3M»t «Ç
1st Pennsylvania,
3 9 U IIO Q
12th Pennsylvania,
1,110,101.05
1,208,855.60
Clear
Clear
1,110,101.05
1,208,855.60
23d P ennsylvania,
7,080,911.86
1,599,565.15
448,385.10
8,892,823.95
Clear
7,080,911.86
8,892,823.95
1,960,329.69
417,356.84
Clear
Clear
Clear
Clear
Clear
1,599,565.15
448,385.10
1,960,329.69
417,356.84
88,334.56
117,893.67
Clear
Clear
88,334.56
117,893.67
1,602,742.10
2,300,255.60
1,865,170.54
3,567,938.85
Clear
Clear
Clear
1,602,742.10
2,300,255.60
1,865,170.54
3,567,938.85
2,499,813.73
252,475.87
3,089,969.60
Clear
Clear
Clear
3,089,969.60
Clear
2,499,813.73
252,475.87
176,935.55
290,476.40
2,982,299.99
2J O p O Q
*0
TO
2Q
I s !
îire^'V
i o z i
jY
irequiY
Rhode Island,
South Carolina,
South Dakota,
Tennessee,
1st Texas,
Texas,
Utah,
345,765.40
Clear
345,765.40
Vermont,
176,935.55
Virginia,
2,484,069.34
290,476.40
2,982,299.99
Clear
Clear
Clear
Clear
2,484,069.34
Washington, in c lu d in g
Alaska,
West V irginia,
1,172,332.35
1,558,882.67
Clear
Clear
1,172,332.35
1,176,954.95
1,447,350.35
Clear
Clear
1,176,954.95
1,558,882.67
1,447,350.35
Wisconsin,
2,367,567.93
2,876,218.08
Clear
Clear
2,367,567.93
2,876,218.08
174,117.52
183,302.34
Clear
Clear
174,117.52
183,302.34
Clear
Clear
Wyoming,
Rhili
Jppine Islands,
saupajli
EH 1101
Total,
326,552,401.47
283,607,585.72
^Hawaii, Report of 9/16/36 used.
226,352.401.47 j285,607,585.72
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Wednesday. September 23« 1936,
9-22-36
Press’Service
No. 8-51
Commissioner Guy T. H elvering of the Bureau of Internal Revenue announced
income tax collections of $283,607,585.72 for the. period September 1-21, 1936,
inclusive.
In the comparable period of a year ago, September 1^20, 1935, inclu
sive, income tax collections were $226,352,401.47.
By collection districts the collections for the two periods as shown by
telegraphic reports from collectors, were as follows;
Districts
Alabama
Arizona
Arkansas
1 st California
6th California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawai i
Idaho
1st Illinois
8th Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland, including
Dist. ef Columbia
Massachusetts
Michigan
Minnesota
Mississippi
1st Missouri
6th Missouri
Montana
Nebraska
Nevada
New Hampshire
1st New Jersey
5th New Jersey
Deposited
Sent. 1-20.1935
$
575,901.07
125,130.05
258,888.55
6,993,669.34
6,277,218.80
1,467,045.44
4,860,237.90
5,307,297.23
1,444,815.15
1,463,150.08
854,563.32
130,986.07
16,575,684.97
1,092,715,36
3,302,729.36
1,020,732.34
756,264.50
1,604,605.83
1,219,233.13
669,179.64
Deposi ted.
Sent. 1-21.1936
$
609,167.34
207,560.09
334,992,42
8,626,390.63
7,690,194.07
1,801,588.86
6,291,813.75
6,236,770.30
2,704,414^04
1,528,569,93
1,556,278.53*
252,525.86
20,636,273.62
1,585,584.04
4,244,855.92
1,533,278.28
891,698.60
2,273,077.88
1,366,979.02
733,526.50
4,986,143.77
9,233,478.65
11,370,482.40
2,500,083.90
157,508.59
4,324,907.58
1,685,777.11
241,413.41
793,588.78
226,596.35
496,866.75
1,438,226.74
9,713,433.64
5,762,965.31
12,398,103.22
18,251,312.35
3,138,243.00
254,961.80
4,213,786.51
1,883,158.10
301,749.31
756,182.39
319,368.33
511,827,48
1,516,473.31
11,021,381.25
2
■ -
CONTINUED
Districts
Hew Mexico
1 st New York
2nd New York
3rd 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
23rd Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
1 st Texas
2nd Texas
Utah
Vermont
Virginia
Washington, including
Alaska
West Virginia
Wisconsin
Wyoming
Philippine Islands
TOTAL
Deposited
Sent. 1-20.1935
Deposited
Sent. 1— 21,1936
$
$
94,008.77
4,073,245.00
33,610,649.82
22,795,092.05
3,431,997.70
1,227,565.20
4,096,894.37
3,542,115.95
71,579.84
3,999,797.03
1,377,989.40
911,620.07
5,624,189.60
2,064,756.69
540,179,65
11,187,592.77
1,110,101.05
7,080,911.86
1,599,565.15
448,385.10
88,334.56
1,602,742.10'
2,300,255.60
2,499,813.73
252,475.87
176,935.55
2,484,069.34
124,414.86
4,516,487,00
42,887,286.19
28,105,125.40
4,658,243.97
1,037,573.63
4,874,001.15
3,436,577.34
90,324.76
4,411,444,67
2,167,597.60
1,012,374,47
7,854,558.82
2,626,813.19
689,513,98
12,875,562,68
1,208,855.60
8,892,823.95
1,960,329.69
417,356184
117,893,67
1,865,170.54
3,567,938.85
3,089,969,60
345,765,40
290,476.40
2,982,299,99
1,172,332.35
1,176,954.95
2,367,567.93
174,117.52
1,558,882,67
1,447,350.35
2,876,218.08
183,302.34
. f e e . 352.401.4s?
$283,607,585.72
♦Hawaii, Report of 9/16/36 used,
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~3~
ÍB)
le it aseeseary to continuo t© fcuy sil of the w o r M #e proferred golá
la order to m í s t a l a the artificial priee of $35 por orneo; asá If $e, eaa
you estirante the poeslble lose to tho United States if the baying censes
má. gold retaras to a world priee?
1 feol like apologisslftg to yon for lntruáing t^oa your tiae and geod sature
with a necee sarily lavolved fuoetioaaaire of t M s charaoter; but 1 am earaestly
saá elneerely eoarchiac for ligfrt upca theee relatad subjects, asad the Seeret&iy
of the freneury seesis to be the oaly perecía whe eaa respond sathorite tively to
tlaie quest for iafoimtloa*
1 «hall %e l&áebted feo yon for your reply - at
v m h lea&th a» yon e&re to arito - at your earliest conven!ence.
fith eontiaeats of great respaet* I beg to resala,
fit& «ara personal redarás and %e|l vicios.
Oordi&lly and f<hfully,
4. 1« Tsadeaberg; (signad)
MS<ÊÊ*
ü&m |pîâ production ©f the world «uà
®nce w r Internat ione! confère©.
wmsk mare %immi w&s
necess&ry to hai-»
ffe® i w M k k question a a t n r & U y «risos as t© how and
tais oould hsppen
'
correct). Whereupon it iarje&iately h©c©?a©g important to
a*other r®P°r*
th® B q p a r f c M t of t e m e r e ® lesued on Orano 6th.
end «ntltled *F©r«ign Investente la the liaited States«* Bits shows
t&at et ta® end of 1935» fcreign holding» in this e m m i r y maouated to ta®
attendons rat of $6,235,000,000 of which $1 ,200,000,000 mm lu hanfc halan®®«
ano othor short-tora fundí, # 2 ,015 ,000,000 In e©s®oa stocks, #129 ,000,000 In
preferred stocks, and #607,000,000 in honds.
If th® stores and honds are
practicelly ail U s t e d (as 1 under»tend to h® th® faci) this represente a
total of $4,151,000,000 in forelga holding» vhieh can h® callea for at aay
moment hy their foreîgaa cenere. fhe péril to our osa donasti® situation
in such & contemplation w o d d %»m to h® quite ohvious hee&use if «® ha®®
nnythlsg U k ® $4,000,000,000 m instant forsîga sali, our financia! structure
m & m r pris® structure r®st to a coasid®rahl® extent on foreign ■ £
®r
caprice. Bon® of ns sili forgot ho® th® w i t M r w m l of foreign ttmâe »«**
salane®® In 1931 deaerai i*®d our stock market®,. shook: sur hsnks and deepened
th® rigore of th® dépréssion»
^
5 ^ ? 1®aàs m®
«Potion# whieh revolee arenad th® general proposition
/â Ϋ!W
fsreign gold at an arbitrarily high domesti® prie®
I d j U h e m t e l y set hy ns) is responsible for this international Investment
sitmtioai and that uni®«® stoppe* «ili smltiply our serlou® American Jeoparto
^ 1 1 ® als^ sraltlplyiag foreign profits at American expense. If these tu*,
pl lest ions and conclusions are in error, I a» aurions to hâve the authentic
démonstration of it. Iherefore, with this premise la miad, 1 asks
(1 ) la 193b and 1935
cur gold Importation exeeed, flrst, the world1»
production of as® gold, and, second, th® transfer nocess&xy to baiane© our
internat io nal accounts-î
{2)
For what vas thè hai enee ased, and «hai does li repressati
(3> t e s it noi represent the stisral&ted movestent of American seeurities
lato th® hands ef foreign holders?
t1») Boa» not ovr eoatlaued parchase of »orld gold at $35 ®s ouaea *i*e
l 01-? 1? 1 hol4*r* «f « ® W *® « A m a t a , » la parchaela* posar la sur «aaurity
«»iketa orar ám rím m baldara of papar dallar»! aad lf so, boa machi
Boa «
fi n u m a r
10b a t
***
thl» f o r a l a gola la 1931» aad 1935 aaa boa«,t %
í ” R*ttI7
the Sreawwy?
l»»lâ for aaá be* aera «be porebaaaa
(T) *bat la tha fresata, dala, *ttb tho lapart
le thè edvsnteg® of coniinulng this pclicyt
«
tiras barai aad «bat
W X f ® 8SAH8 SSKdfg
/
Cosaittee oa Fereign Belations
Sapida, Mitigali«
Septeaher 2»A, 19 3 6 .
/
Boasrabla loary hergsatha», Jr »#
fr©ss«ry Pepartaent,
Washington, P. ۥ
Hr dear Iter. Seeretaryi
w *»«r io f cospreaeaazts acatar «ad conclusi®».
I ai coactael te Irast i&t «ffeet ®f as? gold pur chas* poi leles as hearing
apon » • edrlsabiUty of eontlmil^ to b«jr foralgn g®IA &t aa *rtitr*rlly
«ahaaced donasiio prie#.
Fr®*
« m e l a i fidare# as are p u b l i d y avallale« i% «oaid s o m to b«
a fair deduciion that tòilt
cannot fiad lie ae&ns te pay car sar
™ t s , ii eaa asá dees fissi thè seaas le bey ©ur seearities; asá li «culi
ai leaet ti^srfieially eppeer that our esa gold parchase prograa aei o n \y
emeourages ihle procesa bai alee subsidiaos ii ai ihe sapease ©f ihe
¿jnericaa people.
Figures issued by ihe Department ©f Commerce far Igjfe «ad 1935 (la reperti
ioiesa as Balance ef Xatern&t tonal Faymeats) and figures Issaci by the
Federal Besarte Board o» eerld geld produot Ion are the prlmary basta «pea
«hieh this l^potto»!« eould resi - rsmaborlag aleo that ihe Tre&sury Bepartmeat (vlih ihe approvai of the Frssi&sat) aaaeunced ea Jaataaxy 3lst,
*93*» that ihe followlng áay ii eould bsgla te bey aay
»13 «oíd ai ihe
rata ef $35 per ornee (iaetead ef ai the rata of $20.67 preriously ebtained).
0,1 fch* ***** «f «***• figure* li eould appear that la 193** car leerla and
pur chases of foreiga gelá (ai ihe ase prlee) aere $1 ,217 ,000,000 stelle the
satire eerld geld producilo» that year «as $963*3$9 »000. la othsr «orde,
mtr leerte ef geld (ai ihe ase prlee) exeeeded ihe eorld productloa. Ii
eould else appear that ©ur importe exceeáed by $ 085,000,000 asy aaouats asees*
«ary te balaaee commercial truasaetloas.
píese saos figures for I935 eould appear io show that «e reeelTed
É l foreiga geld (as coapsreá elite a eorld geld produeiloa of
#1 ,044,©72,000) aoao of which «as aeeessary io balaaee comercial tr&as&ciloas, la eiher «orde, es bonghi aad paid for mubh mora ihsa ihe entire
»
»
sd).
I
»
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday» September 25, 1956»
9-24-36.
-
Press Service
N o . 8-52
Secretary Morgentha.u today made public the following copy of a letter
addressed to him by Senator Arthur H* Vandehberg -of Michigan, together with
a copy of his reply to Senator Vandehberg:
UNITED STATES SEI-TATE
Committee on Foreign Relations
Grand Rapids, Michigan,
September 2nd, 1936,
Honorable Henry Morgenthau, Jr,,
Treasury Department,
Washington, D, C,
.■ •
?
*'v- ' '¿Æ
‘;'g ■
; ■.'
My dear Mr. Secretary:
• •
|
’
I am taking the liberty of submitting a few specific questions to you herewith; and I shall deeply appreciate your usual courtesy in giving me what
ever information may be available. Except a s .the Treasury provides this
information, it is impossible to,have a complete presentation cf the subject
matter for comprehensive study'and conclusion.
I am concerned to know the effect of our gold purchase policies as bearing
upon the advisability of continuing to buy foreign gold at an arbitrarily
enhanced domestic price,
.
%
Erom such official figures as are publicly available, it- would seem to be
a, fair deduction that while Europe cannot find the means to pay our war
,debts, it can and does find the means to buy our securities; and it would
at least superficially appear that our own gold purchase program not only
^encourages this process but also subsidizes it,at the,expense of the
American people,
* '
^ „.-1 *
Figures issued by the Department of Commerce for 1934 and 1935 (in reports
known as Balance of International Payments) and figures issued by the .
Federal Reserve Board on world gold production are the primary basis upon
which this hypothesis would rest — remembering also that the Treasury De
partment (with the approval of the President) announced on January 31st,
1934, that the following day it would begin to buy any and all gold at the
rate of $35 per ounce (instead of at the rate, of $20,67 previously obtained)
On the basis of these figures it would appear that in 1934 our imports'and
purchases of foreign gold (at the new price) were $1,217,000,000 while the
entire world gold production tha.t year v/as $963,369,000,
In other words,
our imports of gold (at the new price) exceeded the world production.
It
would also appear that our imports exceeded, by $885,000,000 any amounts
n e ç ^ s a r y ttp,:^alfmcQ commercial transactions.
These same figures for 1935 "would appear* to~show that we received
$1,739,000,000 in foreign gold (as compared with a world gold production of
$1 ,044,472,000) none of which was necessary to balance commercial transact
ions, xIn other words, V-wg bought and paid for much more than the entire
-
-
nev: gold production of the world raid much more than m s
our international commerce.
necessary to balance
The immediate question naturally arrises as to how and why this could happen
(if my figures are correct), Whereupon it immediately becomes important to
review another report from the Department of Commerce issued on June 6th,
1936, and entitled n]poroign Investments in the United States , ’1 This shows
that at the end of 1935, foreign holdings in this country amounted to the
stupendous sum of $6,235,000,000 of which $1,200,000,000 was in bank balances
and other short-term funds, $2,015,000,000 in common stocks, $329,000,000 in
preferred stocks, and $607,000,000 in bonds.
If the stocks and bonds are
practically all listed (as I understand to be the fact) this represents a
total of $4,151,000,000 in foreign holdings which can be called for at any
moment by their foreign owners. The peril to our own domestic situation
in such a contemplation would seem to be quite obvious because if we have
anything like $4,000,000,000 on instant foreign call, our financial structure
and our price structure rest to a considerable extent on foreign judgment or
caprice, None of us will forget how the withdrawal of foreign funds and
balances in 1931 demoralized our stock markets, shook our banks and deepened
the rigors of the depression.
This leads me to my questions which revolve around the general proposition
that our purchase of foreign gold at an arbitrarily high domestic price
(deliberately set by us) is responsible for this international investment
situation; and that unless stopped will multiply our serious American jeopardy
while also multiplying foreign profits at American expense.
If these im
plications and conclusions are in' error, I am anxious to have the authentic
demonstration of it. Therefore, with this premise in mind, I ask!
(1) In 1934 and 1935 did our gold importevtion exceed, first, the v/orld*s
production of new gold, and, second, the transfer necessary to balance our
international accounts?
(2 )
For what was the balance used, and what does it represent?
(3) Docs it not represent the stimule.ted movement of American securities into
the hands of foreign holders?
(4) Does not our continued purchase of world gold at $35 an ounce give foreign
holders of gold an advantage in purchasing power in our security markets over
American holders of paper dollars; and if so, how much?
(5)
Haw much- of this foreign gold in 1934 and 1935 was bought by the Treasury?'
(6) How were the Treasury purchases paid for and how were the purchases
financed?
(7) What is the Treasury doing with the import gold it thus buys; and what
is the advantage of continuing this policy?
3 -
(8) Is it necessary to continue to 'buy all of the world*s preferred gold in
order to maintain the artificial price of $35 per ounce; and if so, can you
estimate the possible loss to the United States if the buying ceases and gold
returns to. p
. world price?
I feel like apologizing to you for intruding upon y our time and good nature
with a necessarily involved questionnaire of this character; but I am earnestly
and sincerely searching for light upon these related subjects, and the Secretary
of the Treasury seems to be the only person who can respond authoritatively to
this quest fox information.
I shall be indebted to you for your reply - at
such length as you care to write — at your earliest convenience,
With sentiments of great respect, I beg to remain,
With warm personal regards and best wishes,
Cordially and faithfully,
(Signed) A. H, Vandenberg.
/
September 22, 1936.
My dear Senator:
I have your letter of September 2nd and am glad to comply
with your request for information regarding gold imports.
It is
well that you encourage me to write at length, for the subject of
international gold movements is not one that can he adequately
treated in a paragraph or two. The mechanism of adjustment of in
ternational payments which gives rise to gold acquisitions or losses*"
by central banks and governments is complex and technical, but your
questions cannot be adequately answered without some consideration
of these technical aspects.
I will deal with your general inquiry
by taking up your specific questions in the order in which you ’
present them.
*(1)
In 1934 and 1935 did our gold importation exceed, first.
the world*s.production of new gold, and, second, the transfer
necessary to balance our international accounts?”
During the years 1934 and 1935 our net gold imports amounted to
$2,956 millions and estimated gold production outside of the United
States over the same period was approximately $1,775 millions. Thus
our imports exceeded the world’s production of new gold (exclusive of
our output) by about $1,181 millions.
The second part of your question is not clear. Gold imports
-'Cannot, of course, exceed the balance due on international accounts
inasmuch as gold flows constitute the compensatory element in our
balance of international payments.. 3ut if, as T presume to be the
c ase, you have in mind not the whole of the international account,
but only that portion of it which you elsewhere refer to as commercial
transactions, then the answer is that the larger part of the gold in
flows was not received in settlement of balances a,rising out of im
ports, exports, shipping services, tourist expenditures, immigrant
remittances, interest, dividends, and amortization payments, etc.,
but represented a net inward movement -of capital. This movement of capi
tal was partly at the initiative of Americans, partly at the initiative
of foreigners. Americans returned to the United States some short-term—
i
Hon. Arthur H. Vandenberg
- 2 -
funds and investments they had made in previous years. The transfer
of foreign owned capital to this country has been inspired for a
variety of causes-— political and economic fears, monetary uncertainty
elsewhere, and a wish to invest in American securities because of the
prospect of economic improvement in the United States.
*(2)
For
7/hat
was the balance used, and what does it represent?
The answer to this question is given under (l).
**(3) Does it not represent the stimulated movement of American
securities into the hands of foreign holders? n
Your question can, I think best be answered by an examination of
the causes of capital imports into the United States. They are as
follows:
(a) Capital withdrawn from abroad by American ov/ners
because of the greater security or the more attractive field
for investment offered the capital at home. The return of these
funds to the United States - much of which left the country in
1930-31-32 - is, of course, an indication of the relative
strength of our recovery and. of the prevailing confidence in
the future of American industry and American financial institu
tions •
(b) Funds sent to this country by foreigners who likewise
felt that American securities offered a more attractive or more
secure investment opportunity than did investments available to
them elsewhere.
(c) Repurchase by foreigners of some of the foreign securi
ties which Americans had purchased during the post-war decade
and were now glad to get rid of even at low prices. This was
particularly true of the securities of certain countries where
nominal high exchange rates wrere coupled with devices whereby
the nationals of these countries were encouraged to repatriate
these securities at an exchange profit to themselves, or where
maintenance of debt service was provided for only internally but
not for foreign holders.
Ron. Arthur F. Vandenberg
- 3 -
(d) Need created "by increasing foreign trade for larger
working dollar balances to be kept in American banks bjr foreign
banks and traders, Our international trade during 1934 and 1935
increased by one-third over the two years -previous*
It is to
be expected that this greater volume of foreign trade trans
actions would call for larger working dollar balances.
(e) Tear prevailing in some countries abroad of confisca
tion of property or of loss through inflation of their local cur
rencies led during this period to a flight of capital from some
of the countries whose economic and -political situation has been
threatened by disturbances with which you are doubtless familiar.
(f) Lastly, funds sent to this country by speculators in
the hope or expectation that an exchange profit will be possible
if and when the currencies of their countries become depreciated
in terms of the dollar.
These are the causes which account for most of the capital in
flows. Yet these capital inflows would not have resulted in such
large sums being due to the United States were it not for the virtual
cessation of foreign investments by Americans.
Whereas in the years
prior to the depression, annual foreign investments by Americans of
more than a billion dollars were common, since 1931 the annual sums
invested abroad have been negligible; nor does it appear that the United
States will approach in the near future the pre-depression volume of
foreign investment. That the net capital inflow took the form of gold
rather than goods and services, as would normally be the case in the
long run, is due partly to the rapidity and magnitude of the operations
which made it more difficult for the trade and service adjustment of
intemational balances to proceed smoothly, partly to the fact that
we were just emerging from a severe depression and were, therefore,
not making full use of our credit resources.
The figures you cite of foreign holdings in the United States are,
I believe, substantially correct, but their magnitude should be no
cause for alarm, though, naturally, in the determination of our credit
policy constant and careful attention is given to them. Consideration
of their make-up and significance and of the pertinent aspects of our
monetary system will show that t h e y .conslitutejiQ. threal--±P„con±ajaued— — ■
Hon. Art huí' H. Vandonberg
- 4 -
recovery*
It is true that in the event the political disturbances
in Europe and in the Orient disappear, and if the major monetary
problems confronting Europe are solved, and if other important econo
mic factors abroad show a marked improvement, we may expect to see a
reflux of a portion of the capital which has come here in the form
of gold in the past three years.
It would be an excellent thing
for the United States, as well as for the world, if such events
should come to pass.
I am sure you would agree that we would benefit
considerably, both directly and indirectly, from such a world improve
ment.
Though it is impossible to foretell the approximate amount of
gold that is likely to leave this country in the event the above im
provements occur abroad, it appears fairly certain that the amount
leaving over any short period would constitute a small proportion
of our total gold holdings.
In the first place, a large and growing
portion of the short-term dollar balances kept here by foreigners is
needed as working funds. With an improvement in world trade, it is
not improbable that the working balances which would be kept here
will increase markedly.
In the second place, a large part of the
foreign investment in our securities represents long-tei-m investments
in our industry and public utilities and will no more be suddenly
liquidated if conditions improve abroad than would investments in those
securities by Americans.
In the third place, the complete restoration
of confidence in the political and economic stability of Europe is
not likely to take place simultaneously among the bulk of those who
have participated in the flight from their own currencies to the dollar.
Therefore, the return of funds of that type will likewise be apt to be
spread over many months.
Even were the outflow of gold over a few months to be heavy, it
should not affect the adequacy of our credit base,
The events you
refer to in 1931 were hardly comparable.
Then we were on the taboggan
of a sharp decline in stock prices and business activity, to say nothing
of disappearing profits, bank failures and other discouraging features;
the situation now presents a very different picture.
Moreover, one of
the two important sources of gold drains that existed in 1931 has been
eliminated. Before 1933 the fears engendered by a severe outward drain
of gold resulted in an internal flow of gold into circulation and hoard
ing; now currency is not convertible into gold except for purposes of
Hon# Arthur H# Vandenberg
- 5 ~
settling international balances arising from legitimate transactions,
and therefore exports of gold cannot further reduce gold reserves by
stimulating internal drains#
It must not be overlooked, furthermore, that we are n o w far better
equipped than in 1951 to protect our domestic economy from any possible'
adve^s© effect that may accompany large gold withdrawals# We now have,
in addition to the powers possessed by the Treasury Department and the
Federal Reserve System, abundant gold reserves and a Stabilization Fund
of two billion dollars especially created by Congress to protect and main
tain stability of the dollar#
May I call your attention also to the
action of the "Board of Governors of the Federal Reserve System on July 14th
increasing the legal reserve requirements# One of the motives, as indicated
by the quotation below, taken from the statement made by the Board of
Governors of the Federal Reserve System at the tine the step was taken,
was to immobilize a substantial portion of the excess reserves created by
the inflowing gold so that in the event funds were later withdrawn from
this country gold could be made easily available for export without material
effect on our money market#
’’This action eliminates as a basis of possible injurious
credit expansion a part of the excess reserves, amounting at
present to approximately §3,000,000,000 and expected to increase
to nearly three and a half billions by the time this action takes
effect# These excess reserves have resulted almost entirely
from the inflow of gold from abroad and not from the System*s
policy of encouraging full recovery through the creation andmaintenance of easy money conditions# This easy money policy
remains unchanged and will be continued*
’’The part of the excess reserves thus eliminated is super
fluous for all present or prospective needs of commerce, industry,
and agriculture and can be absorbed at this time without affecting
money rates and without restrictive influence upon member banks,
practically all of which now have far more than sufficient re
serves and balances with other banks to meet the increases#”
You ask whether the American securities purchased by foreigners
represent a ’’stimulated movement?” The stimulation which may be said
to have been given to the transfer of American securities into the
Eon. Arthur H, Vanderiberg -
6
-
.Hw
hands of foreign holders is the stimulation that arises from the
fact that business conditions have improved in the United States dur
ing the past three years.
If our business recovery had not taken
place, and ii confidence in our future progress did not exist, doubt
less foreigners would have invested less of their capital in our
securities.
So,long as the United States continues to present to foreign
owners of liquid capital a more attractive field for investment and
deposit it will continue to attract such funds.
If unrestricted
foreign investments in tne United States be deemed undesirable, the
only effective check is legislation which would grant the proper
authority adequate powers to control the magnitude and type of inter
national capital movements*
”& )
Does not our continued purchase of world gold at $35 an
foreign h olders of gold an advantage in purchasing power
,9ecuritY...:market si pvpr American h olders of paper dollars: and
if so. how much ?11
~~
-----------
CO
05}
The price of American securities is, of course, the same whether
the purchaser is an American who pays with American dollars, or is a
ioreigner who converts his own currency into dollars at the current
rates of exchange. Both pay the same number of dollars, and a dollar
in tne hands of each has the same purchasing power in the United States.
is rue^that the foreigner in those few countries whose currency
*.c.s appreciated in terms of the dollar can purchase more dollars with
is own currency, but that gives him no advantage- in purchasing America!
securities since in receiving his dollar dividends or interest, or
doilor proceeds if he subsequently sells his securities, he receives
ack a. proportionately smaller amount of his own currency than would
^eve been the case had his currency not appreciated. The only advanage ne nugho obtain with his currency is in his purchases of American
oo s or services,-rTo gain any special benefit from his appreciated
xchange he must import goods from the United States.
"(5)
Ife.Kftich
of this foreign gold" 1,1
in
1934
and
1935 was bought
tf
1 "'
1
.... ........ . .1... —— I. .1. ...■M
.wa *«
by the Treasury?M
Hon. .Arthur H. Vendenberg - 7 -
This question, and certain comments in the body of your letter,
seem to reflect a misunderstanding of the role the Treasuiy plays in
international movements ox gold. Though it is customary to speak of
Treasury •^purchases” of gold, the expression is an elliptical one
which refers to operations which, though on the surface they apuear
to be purchases, -are in effect fundamentally different from -ourchases
in the ordinary use of the term.
Gold moves in and out of the United Sta/fces, and therefore in and
out of the Treasury, in settlement of our international balance of
payments. When the sum of all the items on the credit side exceeds
that of the items on the debit side, or vice versa, over any given
period, gold moves to liquidate' the balance. The inflow is not a
purchase in the customary usage of the term, nor is an outflow a sale.
The Treasury does not buy any “'goId abroad; it acquires the metal when
importing banks or persons receive gold and turn it over (as required
by law) to the Treasury (via U. S. mints, assay offices, or Federal
Reserve banks) in exchange for dollars received in form of currency
or deposits.
The transaction is merely one of the steps necessary to
maintain exchange rates at a selected level. The Treasury accepts
and gives gold at the selected rates in order to prevent undue fluctua
tions in dollar exchange rates.
Therefore, virtually all the net
imports of gold into the United States are acquired by the Treasury
in exchange for gold certificates.
(Gol'd sent to the United States
by foreign central banks or governments and kept on earmarked account
by the Federal Reserve Bank of Hew York is not included in the Treasury
holdings.
Also, small amounts of the imported gold are used for in
dustrial purposes.)
It is entirely possible that from time to time when the situation
so requires, the Treasury may, with funds in the Stabilization Fund,
engage in operations on the exchange market for the purpose of eliminat
ing unwarranted fluctuations in our exchanges.
These operations may
involve dealings on the gold market, but such operations would be under
taken not for the purpose of acquiring gold, but for the purpose of safethe position of the dollar with reference to other currencies.
’.
'
tt(6) How were the Treasury -purchases, -paid for and how were the
purchases financed?n
I shall omit the technical details of the operations, as I presume
you are concerned only with the general procedure. Gold rained in the
Hon. Arthur H. Vandenberg -
8
United States or imported by some bank or dealer is deposited with the
Treasury via the United States mints, assay office, or Federal Reserve
bonk.
The person depositing the gold receives a check (at the rate of
$35.00 per fine ounce minus the usual mint charges and less one-quarter
of one percent for handling charges) drawn on the Treasury balance in
the Federal Reserve bank.
The Treasury subsequently replenishes that
balance Tilth gold certificates* or gold certificate credits, issued
against the g old metal received* The Treasury’s function in this
transaction has been merely to accept the gold and give in exchange
gold certificates.
“(?) Tfor-t is the Treasury doing with the import gold it thus
buys: and what is the advantage of continuing this policy?H
I believe the *answer to the first part of this question lias been
given in the preceding paragraphs.
I presume you refer in the second
Part of your question to our acceptance of gold sent to the United
States in settlement of our international balance of payments.
In
order to maintain reasonable stability of the dollar in terms of foreign
currencies and to protect the position of the dollar in international
monetary relationships it has been necessary to permit ‘
gold to-enter
the United States*..
"(3). Is it necessary to continue to buv all the world’s prof
fer edg^o Id. in order to maintain the artificial orice of $35.00 per
ounce; and if sc. can you estkipa.te the possible loss to the United
..States if the .buying, c.ea.seg and, gpldTreturns to a world price?«
I am net quite clear as to the meaning of your phrase, ”artificial
price of $35*00 per ounce,” There are two possible interpretations;
one may refer to the revaluation of the gold from $20.67 an ounce to
$35*00 an ounce; and the ether to the possibility that the Treasury
enters the foreign market and bids competitively for gold*
With regard to the first interpretation, I believe that the conpensus of informed opinion would support me in the view that the revalua
tion of the -dollar contributed materially to check the disastrous down
ward course of prices in the United States and helped initiate an up-wpxd movement; a change which not only helped adjust the large and
growing discrepancies between the prices of various classes of commodi
ties, but was an ihoertent factor in stimulating business activity and
Hon, Arthur H, Vftndenberg — 9 -
in restoring confidence in prospects for recovery; that it eliminated
some of the gross injustice "between debtors and creditors created by
sharply falling prices, and reduced the burdenrof debts by helping to
increase the national incbne; that it contributed to the maintenance
of low interest rates so essential to recovery; that it served to re
adjust our dollar exchange so that our exporters were able to regain
their competitive position in foreign markets.
With, regard to the second meaning, as indicated above, such
gold as the Treasury does acquire enters the United States in settle
ment of our international balance of payments and is deposited with
the Treasury in the manner already described in some detail in the
answer to your question Ho, 5* I have already referred to the possi
bility that the Treasury may at times find it necessary to engage in
operations abroad for the purpose of protecting the dollar position,
but such operations, as I have indicated above, would not be under
taken for the purpose of acquiring gold.
You ask whether we must »continue to buy all of the world's prof
fered gold.,..?» An examination of the statistics of inflows of gold
to and from various countries 'of the world reveals that shifts in
large amounts#constantly take place among countries in response to
numerous forces impinging on the international balance<of payments of
all countries, Newly—mined gold constitutes only a fraction of the
total sum of gold that moves among countries each year. For example,
during 1934 net imports of gold into England alone amounted to
$716 millions, and in 1935 and the first six months of 1936 she im
ported on balance another $700 millions of gold,
I appreciate your interest in these matters, and hope that you
vdll not hesitate to write me if X can serve you any further.
Sincerely,
(Si gned) "Henry* liongenthau^-J r .
JElonorable JLrthur H, Tancfenberg,
Grand Hapid^--4iichigan,'
2.
of its currency.
The Government of the United States, as also the British
Government, has
welcomed this decision in the hope that it will establish
more solid foundations for the stability of international economic relations.
The United States Government, as also the British and French Governments,
declares its intention to continue to use appropriate available resources
so as to avoid as far as possible any disturbance of the basis of inter
national exchange|
resulting from the proposed readjustment.
It will arrange for such consultation for this purpose as may prove
necessary with the other twoJHovemments and their authorised agencies*
>4.
The Government of the United States is moreover convinced, as
are also the Governments of France and Great Britain^that the success of
the policy set forth above is linked with the development of international
trade.
In particular it attached the greatest importance to action being
taken without delay to relax progressively the present system of quotas
and exchange controls with a view to their abolition.
5.
The Government of the United States, in common with the Govern
ments of France and Great Britain, desires and invites the cooperation
of the other nations to realize the policy laid down in the
declaration.
present
It trusts that no country will attempt to obtain an
unreasonable competitive exchange advantage and thereby hamper the effort
to restore more stable economic relations which it is the aim of the three
Governments
to promote.
fix
TU
w k i^ e ^ C ^
1,
Ua h Ci-'
U J ^ 4 ^ <4 Mji t^ 'A C M
f
;
The Government of "the United States} after consultation with
the British Government and the French Government, joins with them in
affirming a common desire to foster those conditions which safeguard
peace and will best contribute to the restoration of order in inter
national economic relations and to pursue a policy which will tend to
promote prosperity in the world and to improve the standard of living of
peoples.
2. The Government of the United States must, of course, in its
policy 0
towards international monetary relations take into full
account the requirements of « • * * ■ • *
internal prosperity, as
corresponding considerations will be taken into account by the u overa
ments of France and Great Britain; it welcomes this opportunity to
reaffirm its purpose to continue the policy which it has pursued in
the course of recent years, one constant object of which is to maintain
the greatest possible equilibrium in the system of international exchange?
0 g 0 k
and to avoid to the utmost extent the creation of any disturbance
of that system by American monetary action.
The Government of the United
States shares with the Governments of France and Great Britain the con
viction that the continuation of this two-fold policy will serve tne
general purpose which all the Governments should pursue.
3. The French Government informs #
the United States Government
that, judging that the desired stability of the principal currencies
cannot be insured on a solid basis except after the re-establishment of
a lasting equilibrium between the various economic systems, it has
decided with this object t o/ropose to its Parliament the readjustment
TurnsURY D EPxARTMENT
Washington
Press Servico
fe* 8-53
IMMED iate release
Friday, September 25, 1936
for
By authority of* the President, the Secretp^ry of* tne Treasury makes the
folio-wing statement:
1.
The Government of.the United States, after consultation with the
British Government and the French Government, joins with them in affirming a
common desire to foster those conditions which safeguard peace and will best
contribute to the restoration of order in international economic relations and
t« pursue a policy which will tend to promote prosperity in the world and to
improve the standard of living of peoples.
2,
The Government of the United States must, of course, in its policy
towards international monetary relations take into full account the requirements,
of"internal prosperity, as corresponding considerations will be taken into
account by the Governments of France and Groat Britain; it welcomes bnis oppor
tunity to reaffirm its purpose to continue the policy which it has pursued in
the course of recent years, one constant objeot of which is to maintain tho
greatest possible equilibrium in the system of international exchange and to
avoid to the utmost extent the creation of any disturbance of that system by
American monetary action*
The Government of tho United States shares with the
Governments of France and Great Britain the convicti-on-^that-tho---continuation
of this two-f’»ld~ poLicy -wouUL-'S-ervo' the_.gimoral purposc- -which all the Governments
should pursue.
3,
The French 0®vernment informs the United States Government that,
judging that the desired stability cf the principal currencies cannot be
insured on a solid basis except after the re-establishment of a lasting equiXi-brium between the various economic systems,, it has^P^cixled-^withr'd:hhs object to
2
propose to its Parliament the readjustment of its currency*
The Government
of the United States, as also the British Government, has welcomed this
decision in the hope that, it-will establish more solid foundations for the
stability of international economic relations*
The United States- Govern--"'"
ment, a,s also the British and French Governments, declares its intention to
continue to use appropriate available resources so as to avoid as far as
possible any disturbance of the basis of international exchange resulting
from the proposed readjustment.
It will arrange for such consultation for
this purpose as may prove necessary with the other two Governments and
their authorized agencies«
4*
The Government of the United States is moreover conviriCor| . as
are also the Governments of France and Great Britain, that the success of
the policy set forth above is linked with the development of international
trade*
In particular it attaches the greatest importance to action being
taken without delay to relax progressively the present system of quotas
and exchange controls with a view to their abolition.
5.
The Government of the United States, in common with the Govern
ments of France and Great Britain, desires and invites theu^ooperrnrtion of
the other nations to realize the policy laid down.in the present declaration*
It trusts that no country will attempt to obtain an unreasonable competitive
exchange advantage and thereby hamper the effort to restore more stable
economic relations which it is the■aim-of.the-three:Governments— to^prrrmrto*-~~
——oOo—
~
2
-
In view of tiie fact that the quota on imports of **cattle weight
ing 700 pounds or more each and not specially provided for” is nearing
fulfillment, telegrams have been sent to collectors of customs, notify
ing them that effective September 28 importers will be required to
deposit duties at the full rate under the Tariff Act of 1930.
A
record is to be kept of the exact time at which each entry covering
this class of cattle was accepted.
Upon determination of the particular importations of this class
of cattle which come within the quota limitation, the Bureau of
Customs will authorize collectors to refund duties paid in excess of
the Trade Agreement rate.
###
Customs District
:
:
:
:
Cattle
Under 175
Pounds
(Head)
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & Hew Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
( a )
( a )
:
:
:
:
Cattle 700
Pounds
Or More
(Head)
147,040
94.4fo
27,754
3,562
21,904
231
77
562
-
:
:
:
:
Dairy Cows
700 Pounds
Or More
(Head)
4,502
22*5^
1
— 11
873
-
7,000
40,701
906
*,328
3,133
22
569
290
18,600
126,639
7,522
7,080
5,742
57
44
—
33
—
- —
—
500
2,388
652
4,502
— -
— —
—
20,401
The quota on this class of cattle has been filled •
istics and»,>Research. Bujpf^y^of Customs.)
¡®?
9'^
I n vie?,’ of
the
&
imports
of
feet
that
cattle weighing
specially provided
for"
the
ouote
700 p o u n d s
or m o r e
been
notifying
that effective Sent ember
importers will b e
rate under
.¿±aerto
the
covering
this
Upon
ations
of
class
to d e p o s i t
of 1 9 5 0 .
exact
class
the
refund
Trade Agreement
time
of c u s t o m s
28
duties
A record
at w h i c h
at. the full
is
each
entry
of c a t t l e v a s a c c e p t e d .
determination
this
to
to c o l l e c t o r s
required
of t he
quota limitation,
collectors
sent
xariff Act
be k e p t
e a c h and
is n e a r i n g f u l f i l l m e n t ,
telegrams have
them
on
rate.
of
of t h e
particular import
cattle which
Bureau
duties
of
paid
come
v/ithin the
Customs w i l l
in e x c e s s
authorize
of the
Sta
OFFICE OF THE COMMISSIONER OF CUSTOMS
September 26, 1936
TO MR* FUSSELL
(Room 289 - Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing preliminary
figures for the imports of cattle under the quota provisions of the Canadian
Trade Agreement, during the period from January 1 to September 19, 1936.
I will appreciate it if you will advise me as soon as this tabulation
hflfl been released, as we have requests for this information.
When the tabulation has been mimeographed, please have 50 copies for
warded to me at Room 415, Washington Building.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, September 26, 1936.
Press Service
No. 8-54
The Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement
for the period January 1 to September 19, 1936, and the percentage that such
imports bear to the totals allowable under the quota provisions, as follows:
Customs District
Dairy Cows
Cattle 700
Cattle
700 Pounds
Pounds
Under 175
Or More
Or More
Pounds
(Head)__________ (Head)_____________ (Head)
TOTAL IMPORTS
Per Cent of Quota
(a )
147,040
94.4$
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
7,000
40,701
906
1,328
3,133
22
569
290
18.600
126,639
FROM MEXICO
Ari zona
El Paso
San Antonio
San Diego
Total from Mexico
7,522
7,080
5,742
57
20,401
27,754
3,562
21,904
231
77
562
4,502
22.5$
1
—
11
—
873
—
44
—
( a ) The quota on this class of cattle lias been filled.
—
—
33
—
—
500
2,388
652
.4,502
—
—
—
—
—
highly desirable.
For this purpose, the Belgian Govern
ment will remain always willing and ready to bring its
entire collaboration.
For the Ambassador:
PRINCE lUGiari DE LIGIIE
market.
3)
The Preach Government, considering that the de
sirable stability of the principal currencies cannot be
assured on a solid basis without a previous re-establish
ment of a durable equilibrium between the various n a
tional economies, has decided to propose for this purpose
to its Parliament the adjustment of its currency.
The
Belgian Government, as well as the Governments of the
United States and Great Britain, considers that this
decision is of a nature to establish on more solid
foundations the stability of international relation
ships.
It is ready to take part as often as it may be
necessary or useful in the consultations which may be
called, either between the interested Governments or
between the competent institutions.
4)
The Belgian Government, as well as the Govern
ments of France, Great Britain and the United States,
is moreover convinced that the success of the policy
above outlined is bound up with the development of
international commerce.
Particularly, it attaches the greatest importance
to the initiation of an action without delay with a
view to reducing progressively the existing systems of
contingents and control of exchange with a view to
their final abolition.
5)
The Belgian Government, as well as the Govern
ments of Prance, Gyeat Britain and the United States
9
considers that the collaboration of the other nations
for the realization of this program above mentioned is
highly
Mr. 3eoretsxy,
S,\. 4 .
Upon the order of my Government, I have the honor
to inform Your Excellency of the following;
1)
The Belgian Government has learned of the
declarations by which the Governments of France, Great
Britain and the United States have considered it op
portune to express their intentions with regard to the
monetary and economic problems existing at the present
time, and Joins with them in affirming a common inten
I
tion of safeguarding the peace, of favoring the es
tablishment of conditions which will contribute to the
restoration of order through the international eco
nomic relations and to pursue a policy with a view to
developing world prosperity and improving the standard
of living of all peoples.
3)
To this effect the Belgian Government is de
cided to modify in no way the monetary policy which it
has carried out during the last year and a half and
which has had the effect of assuring the complete
stability of the Belgian franc on the international
exchange market, avoiding any disturbance of that
market.
His Excellency
The Secretary of State,
Department of State,
Washington, B. G.
TREASURY DEPARTMENT
Trashing ton
FOR IMMEDIATS RELEASE
Saturday, September 26, 1936.
Press Service
Nol 8-55
■. The Secretary of the Treasury naïves public the following note
from the Belgian Embassy, transnitted to the Treasury Department by
the Secretary of State;
"BELGIAN EMBASSY
H
Washington,
September 26, 1936.
r j A ry,
"Mr. Secretary,
"Upon the order of my Government, I have the honor to inform
Your Excellency of the following:
"l) The Belgian Government has learned of the declarations
by which the Governments of France, Great Britan and the United
States have considered it opportune to express their intentions
with regard to the monetary and economic problems existing at the
present time, and joins with them in affirming a common intention
of safeguarding the peace, of favoring the establishment of con
ditions which will contribute to the restoration of order through
the international economic relations and to pursue a policy with
a view to developing world prosperity and improving the standard
of living of all peoples.
"2)
To this effect the Belgian Government is decided to modify
in no way the monetary policy which it has carried out during the
last year and a half and which has had the effect of assuring the
complete stability of the Belgian franc on the international exchange
market, avoiding any disturbance of that market.
"3)
The French Government, considering that the desirable sta
bility of the principal currencies cannot be assured on a solid basis
without a previous re-establishment of a durable equilibrium between
the various national economies, has decided to propose for this purpose
to it's Parliament the adjustment of its currency.
The Belgian Government, as well as the Governments of the United States and Great Britain
considers that this decision is of a nature to establish on more solid
foundations the stability of international relationships. It is ready
to take part as often as it may be necessary or useful in the consul
tations which may be called, either between the interested Governments
or between the competent institutions.
»
-
2
-
”4) The Belgian Government, as well asthe Governments of France,
Great Britain and the United States, is moreover convinced that the
success of the policy above outlined is bound up with the development
of international commerce..,
11 Particularly-, it attaches the greatest importance to the initi
ation oi an action without delay with a view to reducing progressively
hue existing systems of contingents and control of exchange with a
view to their final abolition.
*’5) The Belgian Government, as well as the Governments of France,
u^eat 3ritain and the United States, considers that the collaboration
o± the other nations for the realization of this program above men
tioned is highly desirable. For this purpose, the Belgian Government
will remain always willing and ready to bring its entire collaboration
"For the Ambassador:
(Signed)
His Excellency,
The Secretary of State,
Department of State,
Washington, D.G.
FRINGE EUGENE DE LIGNE"
TREASURY DEPARTMENT
msiiiefoi
FOR RELEASE, MOMIHG NEWSPAPERS,
Tuesday. September g | 1936,___
9/28/36
Press Service
s-
Secretary of the Treasury lorgenthau announced la s t
evening that the tenders for #50,000,000, or thereabouts,
o f 273-day Treasury b i l l s , dated September 30, 1936, and
maturing June 30, 1937, which were offered on Sept ember 25
were opened at the Federal Reserve banks on September 28.
The to ta l amount applied for was f 141,680,000, o f
which |50,121,000 was accepted.
The accepted bids ranged
in p rice from 99.910, equivalent to a rate o f about 0.119
percent per annum, to 99.849, equivalent to a rate o f
about 0.199 percent per annua, on a bank discount b a sis.
Only part of the amount bid for a t the la t t e r price was
accepted.
The average price o f Treasury b i l l s to be
issued i s 99.859 and the average rate i s about 0.186 per
cent per annum on a bank discount b a sis.
f" s /6
TREASURY B E P A R m S H f
Washington
MEMORANDUM FOR THE.PRESS
September 28, 193$
RECEIPTS OF SILVER BY THE MINTS AMD ASSAY OEEICSS:
(Under Executive Proclamation of December 21, 1933)
Week ending September 26, 1936:
Philadelphia...
San Francisco«^
Denver.........
Total for week ended September 26, 1936......
Total receipts through September 26, 1936....
fine ound
n .1! j
n
'll
it 11
»
M
SILVER TRAUSEERRED TO UNITED STATES:
(Under Executive, proclamation of August 9, 1934)
Week ended September 26, 1936;
Philadelphia , . . . . , , ...t .................. .
New York ................. ........... ........... ..
San Erancisco ....................................
Denver..... ,, ...... ....................... ........
New Orleans
,, ,.,.,.............. ........
Seattle............. .............................
Total for week ended September 26, 1936......*.,..
Total receipts through September 26, 1936.;.... .,.
148,00 fine ounc
86.00
« ,f
234,00
112,975,399.35
"
"
"
11
RECEIPTS OP GOLD 3Y THE MINTS AND ASSAY OEEICES:
New
Week ending September 26, 1936:
Imports_________ Secondary
Domestic.
P h i l adelphia..... ,......... ..... ...$
3,951,19 $ 79,683.62 $
1,803,72
Hew York..... .......... ........... .. 19,539,400.00
86,500.00
274,000.00
San Erancisco .......................
1,614,837,20
23,506.79 1,230,002.06
Denver. .... 25,229.13
17,042.47
721,819.26
Hew Orleans....... .............. -------- ----- - *
*■~ 14,158,39
213,55
Seattle.
..... ................... . .......... ~ ~
9,375.14
668.460,86
Total for week ending Sept,26, 1936..$21,183,417.52 $230,266.41 $2,896,299,45
ooOoo
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday» Sent ember 29« 1956,_____
9-28-36
Press Service
No. 8-56
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury bills, dated
September 30, 1936, and maturing June 30, 1937, which were offered on
September 25, were opened at the Federal Reserve Banks on September 28.
The total amount applied for was $141,680,000, of which $50,121,000
was accepted.
The accepted bids ranged in price from 99.910, equivalent
to a rate of about 0.119 percent per annum, to 99.849, equivalent to a
rate of about 0.199 percent per annum, on a bank discount basis.
part of the amount bid for at the latter price was accepted.
Only
The
average price of Treasury bills to be issued is 99.859 and the average
rate is about 0.186 percent per annum on a bank discount basis.
ooOoo
OFFICE OF THE COMMISSIONER OF CUSTOMS
^—
S * 7 Sta
October 3, 1936
TO MR* FUSSELL
(Room 289 - Treasury Department)
FROM MR. iRESMAN:
There is attached a tabulation for immediate release showing
preliminary figures for imports of cattle, cream and seed potatoes
under the quota provisions of the Canadian Trqde Agreement,during
the period from January 1 to September 26, 1936#
When the tabulation has been mimeographdd, please have 50
copies forwarded to me at Room 415, Washington Building.
The Commissioner of Customs today announced preliminary
figures for the imports of cattle, cream and seed potatoes, under
the quota provisions of the Canadian Trade Agreement, for the
period January 1 to September 26, 1936, and the percentage that
such imports bear to the totals allowable under the quota
provisions, as follows:
<Sr
Customs Districts
: Cattle 700
: Pounds or
:
More
: (Head)
:
:
:
;
Dairy Cows
700 Pounds
(Or More
(Head)
:
:
Cream
(Gal.)
:
:
:
:
White or
Irish Seed
Potatoes
(Pounds)
TOTAL IMPORTS
Per Cent of Quota
150,645
96.7$
4,598
23.0$
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
27,987
3,637
22,320
231
77
562
7,083
42,561
1,436
1,328
3,133
22
592
290
18,985
•
1
44
33
515
2,436
654
1
14,414
-
15,122,759
580
1,244,375
86,000
130,244
4,598
14,524
20,831,843
-
-
-
-
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
-
11
904
-
14,524
0.9$
n
72
26
-
20,831,843
46.3$
»
52,500
92,650
180
2,307,915
1,780,374
144,510
-
7,522
7,080
5,742
57
-
-
-
•
-
20,401
-
-
-
NOTE - The quota on cattle weighing less than 175 pounds each has been filled.
(af
- Includes 1,534,697 pounds of seed potatoes imported during December,
1935, at regular rate of duty.
7
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, October 3, 1936,
Press Release
No<8~57
The Commissioner of Customs today announced preliminary figures for
the imports of cattle, cream and seed potatoes, under the quota provisions
of tiie Canadian Trade Agreement, for the period January 1 to September 26,
1936, and the percentage that such imports bear to the totals allowable under
the quota provisions, as follows:
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
PROM CANADA
Alaska
Buffalo
Chicage
Dakota
Duluth & Superior
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
NOTE (a) -
Cattle 700
Pounds or
Mo^e
(Head)
150,645
96.7$
—
27,987
3,637
22,320
231
77
562
—
7,083
42,561
1,436
1,328
'3,133
22
592
290
-
Dairy Cows
700 Pounds
Or More
(Head)
4,598
23.0$
—
1
11
-
904
*.
44
11
-
20,831,843 (j
46.3$
52,500
72
92,650
180
26 2,307,915
_
~
-
1,780,374
144,510
-
33
-
1
-
-
515
2,436
-
654
130,244
4,598
20,401
14,524
0.9$
-
18,985
7,522
7,080
5,742
57
White: or
Cream Irish Seed
(Gal.) Potatoes
(Pounds)
-
15,122,759
-
**
580
14,414
- 1,244,375
86,000
14,524-20,831,843
_
-
-
-
-
-
-
-
-
-
-
The quota on cattle weighing less than 175 pounds each has been filled,
Includes 1,534,697 pounds of seed potatoes imported during December,
1935, at regular rate of duty.
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
October 5, 1936
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES:
amended
Week, ended October 2, 1936:
P h i l a d e l p h i a ..................... ,
San Francisco .................... .
Denver ................... ........ .
Total for week ended October 2, 1936,
980,694.62 fine
it
249,329.73
ti
7.470.41
n
237,494.76
n
875,605.03
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive.Proclamation of August 9, 1934)
Week ended October 2, 1936:
Philadelphia........ ............... ............ ..
New York ......................................... .
San Francisco....... | ........... ............ .. ...
Denver ......................................... . ..
New Orleans ................ ....... ............. .
Seattle..................................
Total for week ended October 2, 1936................
Total receipts through October 2, 1936 ........... .
639.45 fine ounces
639.45 fine ounces
112,976,038.80
"
f
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended October 2, 1936:
Imports
Domestic
Secondary
P h i l a d e l p h i a .................. $$
357..03
13,,714.,79 $129, 257. 81 $
New Y o r k ............... .
151, 200,,00
57,221,,200«,00 112, 700. 00
San Francisco...............
36, 504. 10
740, 583,,68
297,,824.,96
Denver......................
37,,715.,25
694, 711.,56
16, 736. 59
- - - «
57,.51
New Orleans....... .........
22, 731. 23
*•*%***- - -, ~ ■
Seattle ....................
,
927.
611,.28
68
618.
___
Total for week ended October 2..$57,570,455.00 $327,857.41 $2,205,521.06
-9 -
Excluding from consideration 5 of the above banks for which receivers were
appointed to collect stock assessments, the depositors having been paid in full prio;
to receivership, there remain 38 receiverships terminated.
depositors were paid
100
per cent principal in
or a portion of the interest) 5 in
per cent; in
4
11
16
In these the unsecured
cases (and in some of these, all
cases the depositors were paid from
they were paid from 50 to 75 per cent; and in only
positors receive less than
50
7
75
to
100
cases did the de
per cent.
Dividend payments during September, 1936, by all receivers of insolvent nation
banks to the creditors of all active receiverships aggregated $3 ,556,137 .
Dividend payments to the creditors of all active receiverships since the bank
ing holiday of March, 1933, aggregated $739,4-98,353.
8
-
-
depositors received dividends amounting to 33.18 per cent of their claims.
The First National Bank of Englewood, Kansas, in receivership January
4 , 1933*
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $84,204-, which represented 82.24 per cent of total liabilities.
positors received dividends amounting to
30
Unsecured de
per cent of their claims.
The First National Bank of Bishopville, South Carolina, in receivership January
18, 1930; disbursements, including offsets allowed, to depositors and other credi
tors aggregated $232,973, which represented 40.88 per cent of total liabilities.
secured depositors received dividends amounting to
25.975
UnJ
per cent of their claims.
The Citizens National Bank of Albert Lea, Minnesota, in receivership February
13, 1927, disbursements, including offsets allowed, to depositors and other creditors!
aggregated $777,919> which represented 81.93 per cent of total liabilities.
Unsecurej
depositors received dividends amounting to 78.49 per cent of their claims.
The First National Bank of LeSueur, Minnesota, in receivership February 15, 1933
disbursements, including offsets allowed, to depositors and other creditors aggregate
$181,751, which represented 50.20 per cent of total liabilities.
received dividends amounting to
41*41
Unsecured depositor]
per cent of their claims.
The First National Bank of Exira, Iowa, in receivership November 3, 1933; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$161,448, which represented 97.66 per cent of total liabilities.
tors received dividends amounting to
96.48
Unsecured deposi
per cent of their claims.
The First National Bank of Mesa, Arizona, in receivership June 27, 1932; dis/
bursements, including offsets allowed, to depositors and other creditors aggregated
$409,092, which represented 92.59 per cent of total liabilities.
Unsecured deposi
tors received dividends amounting to 87.72 per cent of their claims.
-■7 -
1931; disbursements, including offsets allowed, to depositors and other
creditors
aggregated $91,708, which represented 85.39 per cent of total liabilities.
Unse
cured depositors received dividends amounting to 82.08 per cent of their claims.
The Walthill National Bank of Walthill, Nebraska, in receivership July 20, 1931
disbursements, including offsets allowed, to depositors and other creditors aggre
gated 167,523, which represented 74*46 per cent of total liabilities.
Unsecured de
positors received dividends amounting to 6 4 .6 per cent of their claims.
The First National Bank of Elba, Alabama, in receivership October 6 , 1931j dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$209,992, which represented 56.37 per cent of total liabilities.
Unsecured deposited
received dividends amounting to 1 2 .6 per cent of their claims.
The First National Bank of Coin, Iowa, in receivership September 8 , 1931; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$83,820, which represented 71.37 per cent of total liabilities.
Unsecured depositori
received dividends amounting to 63 .8 per cent of their claims.
The First National Bank of Carlsbad, California, in receivership February 15,
1933; disbursements, including offsets allowed, to depositors and other creditors ag*
gregated $88,548, which represented 87.58 per cent of total liabilities.
Unsecured j
depositors received dividends amounting to 7 9 .7 5 per cent of their claims.
The First National Bank of Thompson, Iowa, in receivership June 28, 1932; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$170,193, which represented 81.15 per cent of total liabilities.
Unsecured depositoi
received dividends amounting to 70.95 per cent of their claims.
The First and Farmers National Bank in Luverne, Minnesota, in receivership Marc!
23, 1931; disbursements, including offsets allowed, tp depositors and other creditor!
aggregated $577,213, which represented 64*20 per cent of total liabilities.
Unsecur«
- 6 ~
received dividends amounting to 82,17 per cent of their claims.
The Whiteland National Bank of Whiteland, Indiana, in receivership October 3,
19335 depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 8.08 per cent.
Total payments to
creditors, including offsets allowed, aggregated $115,520, and the stockholders re
ceived $ 2 ,249 , together with the assets remaining uncollected.
The First National Bank of Versailles, Missouri, in receivership November 15,
1933 f the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment agains]
the stockholders to cover a deficiency in the assets sold.
Disbursements during re
ceivership, including offsets allowed, aggregated $8,516, which represented 18.30 pe:
cent of total liabilities.
The First National Bank of Bradford, Ohio, in receivership May 1, 1934-5 deposi-|
tors and other creditors were paid 100 per cent principal with interest in full
amounting to an additional dividend of 9*04- per cent.
Total payments to creditors,
including offsets allowed, aggregated $4-85,4-13, and the stockholders received $5,391)
together with the assets remaining uncollected.
The National Bank of Milton, Iowa, in receivership June 25* 1932; disbursements)
including offsets allowed, to depositors and other creditors aggregated $72,54-1*
represented 86.44- per cent of total liabilities.
Unsecured depositors received divi-
dends amounting to 83.98 per cent of their claims.
The First National Bank of Junction City, Arkansas, in receivership December 3>
1930; disbursements, including offsets allowed, to depositors and other creditors ag
gregated $280,803, which represented 94-*73 per cent of total liabilities.
Unsecured
depositors deceived dividends amounting to 95*14 per cent of their claims.
The First National Bank of Millsboro, Pennsylvania, in receivership April 28,
- 5 -
uncollected were returned to the stockholders.
The City National Bank of Sumter, South Carolina, in receivership July 21,
193;
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 receive
ship, including offsets allowed, aggregated $223,320, which represented 100 per ceni
of total liabilities.
The stockholders received $1,611, together with the assets re
maining uncollected.
The Security National Bank of Mobridge, South Dakota, in receivership September
11, 1931> disbursements, including offsets allowed, to depositors and other creditor
aggregated $14-3,117, which represented 75.05 per cent of total liabilities.
Unsecuij
depositors received dividends amounting to 27.33 per cent of their claims.
The First National Bank of Buffalo Center, Iowa, in receivership January 20, 19
disbursements, including offsets allowed, to depositors and other creditors aggregat
$82,118, which represented 89*02 per cent of total liabilities.
received dividends amounting to
84..15
Unsecured depositor
per cent of their claims.
The State National Bank of Iowa Falls, Iowa, in receivership July 7, 1932; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$333,366, which represented 78.93 per cent of total liabilities.
Unsecured deposito
received dividends amounting to 67.15 per cent of their claims.
The Farmers National Bank of New Bedford, Illinois, in receivership October 1>
1931; disbursements, including offsets allowed, to depositors and other creditors
gregated $99,910, which represented 102.61 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 97.25 per cent of their claims.
The Kansas National Bank of Kansas, Illinois, in receivership December 17, 193^i
disbursements, including offsets allowed, to depositors and other creditors aggregat
$228,170, which represented 85.89 per cent of total liabilities.
Unsecured depositoj
tors, including offsets allowed, aggregated $184,790, and the stockholders received
$3 ,044 , together with the assets remaining uncollected.
The Snell National Bank of Winter Haven, Florida^ in receivership January 19 ,
19 3 3 , the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment agains
the stockholders to cover a deficiency in the assets sold.
Disbursements during reJ
ceivership, including offsets allowed, aggregated $ 10 8 ,206 , which represented 79.30
per cent of total liabilities.
The Exchange National Bank of Spokane, Washington, in receivership January IB,
19 2 9 ; depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 2.833 per cent.
Total payments to ci
itors, including offsets allowed, aggregated $ 8 ,983 ,623 , and the stockholders receh
$ 2 1 ,6 16 , together with the assets remaining uncollected.
The First National Bank of Manistee, Michigan, in receivership December 12, 19;
depositors and other creditors were paid 100 per cent principal with interest in fu]
amounting to an additional dividend of 1Q.53S per cent.
Total payments to creditor
including offsets allowed, aggregated $ 680 ,362 , and the stockholders received $84-9,
together with the assets remaining uncollected.
The First National Bank of Maquon, Illinois, in receivership August 14, 1929}
depositors and other creditors were paid 100 per cent principal and a portion of the
interest, amounting to an additional dividend of I .48 per cent.
Total payments to
creditors, including offsets allowed, aggregated $ 1 6 1 ,6 6 7 .
The Harveysburg National Bank of Harveysburg, Ohio, in receivership October 23,
19 3 3 } depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 8.206 per cent.
Total payments to
creditors, including offsets allowed, aggregated $78,804, and the assets remaining
- 3 -
disbursements, including offsets allowed, to depositors and other creditors ag
gregated $86,987, which represented 70.88 per cent of total liabilities.
depositors received dividends amounting to
41*2
Unsecured
per cent of their claims.
The First National Bank in Brockway, Pennsylvania, in receivership February 11
1932, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment againa
the stockholders to cover a deficiency in the assets sold.
Disbursements during re
ceivership, including offsets allowed, aggregated $703,016, which represented 100.69
per cent of total liabilities.
The First National Bank of Ralls, Texas, in receivership January 6, 1931; dis
bursements, including offsets allowed, to depositors and other creditors aggregated
$84,652, which represented 91.62 of total liabilities.
Unsecured depositors receive
dividends amounting to 88.1 per cent of their claims.
The Dawson City National Bank of Dawson, Georgia, in receivership November 14,
1932; depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 18.17 per cent.
Total payments to
creditors, including offsets allowed, aggregated $498,548, and the stockholders re
ceived $4,750, together with the assets remaining uncollected.
The South Ashland National Bank of Chicago, Illinois, in receivership June 27,
1932; depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 5.309 per cent.
Total payments to
creditors, including offsets allowed, aggregated $116,495, and the stockholders re
ceived $2,597, together with the assets remaining uncollected.
The First National Bank of Farnhamville, Iowa, in receivership July 28, 1933J
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 7.95 per cent.
Total payments to credi-|
-
2
-
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 8 per cent.
Total payments to creditors
including offsets allowed, aggregated $125,197, and the stockholders received $7,401
together with the assets remaining uncollected.
The First National Bank in Webster Groves, Missouri, in receivership March 1,
1934-5 depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 9.662 per cent.
Total payments to
creditors, including offsets allowed, aggregated $289,267, and the stockholders re
ceived $7,267, together with the assets remaining uncollected.
The First National Bank of Roodhouse, Illinois, in receivership February 1, 191
depositors and other creditors were paid 100 per cent principal with interest in
amounting to an additional dividend of 6 per cent.
fu l
Total payments to creditors, id
eluding offsets allowed, aggregated $281,243, and the stockholders received $610, td
gether with the assets remaining uncollected.
The First National Bank of Fayetteville, Tennessee, in receivership April 9,
19345 depositors and other creditors were paid 100 per cent principal with interest
in full amounting to an additional dividend of 8.443 per cent.
Total payments to
creditors, including offsets allowed, aggregated $374*372, and the stockholders re
ceived $7,433, together with the assets remaining uncollected.
The First National Bank ^of Brockway, Pennsylvania, in receivership February H
1932, the liabilities of the institution having theretofore been assumed by another
bank.
The receiver was appointed for the purpose of collecting an assessment againj
the stockholders to cover a deficiency in the assets sold.
Disbursements during re-j
ceivership, including offsets allowed, aggregated $28,416, which represented 27.62
per cent of total liabilities.
The National Bank of Snow Hill, North Carolina, in receivership January 11* *9
TREASURY DEPARTMENT
txA it
Washington
FOR RELEASE, MORNING NEWSPAPERS
-T riu eS D A
Press Service
£ (Pc TO G i f t f, /f3 £ #
£-52
J. F. T. 0* Connor, Comptroller of the Currency, today announced the comple
tion of the liquidation of
43
receiverships during September, 1936, making a total
of 4-84 receiverships finally closed or restored to solvency since the so-called
banking holiday of March, 1933.
Total disbursements, including offsets allowed,
to depositors and other creditors of these
484
institutions, exclusive of the
42
receiverships restored to solvency, aggregated #141,762,837, or an average return
of 76.31 per cent of total liabilities, while unsecured depositors received divi
dends amounting to an average of
62.08
per cent of their claims.
The National Bank of Hudson, Wisconsin, in receivership March 1, 19345 de
positors and other creditors were paid
100
per cent principal with interest in
full amounting to an additional dividend of 9*068 per cent.
Total payments to
creditors, including offsets allowed, aggregated #447,356, and the stockholders
received # 16 ,220, together with the assets remaining uncollected.
The Peoples National Bank of Burgettstown, Pennsylvania, in receivership
January 11, 1932$ depositors and other creditors were paid 100 per cent princi
pal with interest in full amounting to an additional dividend of
9.53
per cent.
Total payments to creditors, including offsets allowed, aggregated #169,922, and
the stockholders received #3,950, together with the assets remaining uncollected.
The First National Bank of Mayville, Wisconsin, in receivership March 23>
1934?
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 9*6 per cent.
Total payments to credi
tors, including offsets allowed, aggregated #422,351, and the stockholders received
# 8,584, together with the assets remaining uncollected.
The First National Bank of Summerfield, Ohio, in receivership December
21, 1933
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING- THE MONTH OF
________
SEPTEMBER 1986
Continued:
■*
Date of
Failure:
Kansas National Bank , Kansas, 111
Whiteland National Bank, Whiteland, Indiana *
First National Bank, Versailles, Mo*
1/
First National Bank, Bradford, Ohio *
The First National Bank of Milton, Iova
First National Bank, Junction City, Ark*
12-17-30
10-3-33
11-15-33
5-1-34
6*23-32
12*3-30
First National Bank, Millsboro, Pa*
Walthill¿National Bank, Walthill, Nebr.
First National Bank, Elba, Alabama
First National Bank, Coin, Iona
First National Bank, Carlsbad, Calif*
First National Bank, Thompson, Iowa
Total
Disbursements
Including
Offsets Allowed:
Per Cent
Dividends
Paid
Uhsecured
Claimants:
228,i70 *00
115,520.00
8,516*00
485,413*00
72,541*00
280,803*00
85*89
106*01
18*30
104*27
86*44
94*73
82*17
108*08
18*0654
109*04
83*98
95*14
4-28-31
7-20-31
10-6-31
9-8-31
2—15-33
6-28-32
91,708*00
67,523*00
209,992*00
83,820*00
88,548*00
170,193*00
85*39
74*46
56*37
71*37
87*58
81*15
82*08
64*6
63*8
79*75
70*95
First & Farmers Nat|l Bank In Lavarne, Minn*
First National Bank# Englewood, Kansas
First National Bank# Bishopville, S. C.
Citizens Natfl Bank, Albert Lea, Minn*
First National Bank, Le Sueur} Minn*
First National Bank# Exira, Iowa
3-23-31
1-4-33
1-18-30
2-18-27
2—15—33
11-3-33
f
577,213*00
84,204*00
232,973*00
777,919*00
181,751*00
161*448*00
64*20
82*24
40*88
81*98
50*20
97*66
38*18
30*
25*975
78*49
. 41.41
96*48
First National Bank, Mesa, Arizona
6—27*32
409,092*00
92*59
87*72
*
$
Per Cent
Total
Returns
to All
Creditors:
12*6
Formerly in Conservatorship#
1/ Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold, or
to complete unfinished liquidation*
/ r
f f i
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
__________________ SEPTEMBER 1956
Per Cent
Total
Retums
to All
Creditore:
Per Oant
Dividends
a .Paid
unsecured
Claimants:
Date of
Failure:
Total
Disbursements
Including
Offsets Allowed:
The National Bank of Hudson, Hudson, Vise* ♦
Peoples National Bank of Burgettstoun, Pa*
First National Bank, Mayville, Wise, *
First National Bank, Summerfield, Ohio *
First National Bank IN Webster Groves, Mo« *
First National Bank, Roodhouse, 111»
3*1«84
1-11-32
3-23-34
12-21-33
3-1-34
2-1-33
$ 447,356*00
169,922.00
422,351.00
125,197.00
289,267.00
281,243*00
106*51
106*51
107*27
106*42
104.62
104.70
109.068
109.53
109*6
108*
109*6628
106*
First National Bank, Fayetteville, Tenn« *
First National Bank of, Brocksay, Pa« 1/
The National Bank of Snow Hill, Snow Hill,N.C.
First National Bank IN Brocksay, Pa« 1/
First National Bank, Ralls, Texas
Dawson City National Bank, Dawson, Ga«
4—9*34
2-11-32
1-11-32
2-11-32
1-6-31
11-14-32
374,372.00
28,416«00
86,987*00
703,016*00
84,652*00
498,548*00
104«68
27.62
70.88
100*69
91«62
103*88
108*443
27.6274
41*2
9*5975
88*1
118.17
South Ashland National Bank, Chicago, 111«
First National Bank, Farnhamville, Iowa ♦
Snell National Bank, Winter Haven, Fla« 1/
Exchange National Bank, Spokane, Wash«
First National Bank, Manistee, Mich« *
First National Bank, Maquon, 111
6-27-32
7—28—33
1-19-33
1-18-29
12-12-33
8—14—29
116,495*00
184,790*00
108,206*00
8,988,625*00
680,362*00
161,667.00
100.83
104.73
79*30
101.67
103*92
101*31
105*309
107.95
79.30381
102.833
110*538
101*48
Barveysburg National Bank, Harveysburg, Ohio * 10-25-33
7-21-32
City National Bank, Sumter, S* C* 1/
9-11-31
Security National Bank, Mobridge, s« D«
1-20-33
First National Bank, Buffalo Center, Iowa
7-7-32
State National Bank, Iowa Falls, Iowa
10-1-31
Farmers National Bank, New Bedford, 111«
78,804*00
223,320*00
143,117*00
82,118*00
333,366*00
99,910*00
104.51
100.
75*05
89.02
78*93
102*61
108.206
49*64715
27*38
84.15
67.15
97*25
-
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,Thursday, October 8, 1936.
10-5—36«
Press Service
Ho. 8-58
t
J..E.T. O ’Connor, Comptroller pf the Currency,
}
today announced the completion
of the liquidation of 43 receiverships during September, 1936, making a total of
484 receiverships finally closed or restored to solvency since the so-called
tanking holiday of March, 1933.
Total disbursements, including offsets allowed,
to depositors and other creditors of these 484 institutions, exclusive of the 42
receiverships restored to solvency, aggregated $141,762,837, or an average return
of 76.31 per cent of total liabilities, while unsecured depositors received divi
dends amounting to an average of 62.08 per cent of their claims.
The National Bank of Hudson, Wisconsin, in receivership March 1, 1934; de
positors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 9.068 per cent. Total payments to
creditors, including offsets allowed, aggregated $447,356, and the stockholders
received $16,220, together with the assets remaining uncollected.
The Peoples National Bank of Burgettstown, Pennsylvania, in receivership
January 11, 1932; depositors and other creditors were paid 100 per cent principal
with interest in full amounting to an additional dividend of 9.53 per cent.
■ %'
',
Total payments to creditors, including offsets allowed, aggregated $169,922, and.
the stockholders received $3,950, together with the assets remaining uncollected.
The First National Bank of Mayville, Wisconsin, in receivership March 23,
1934; depositors and other creditors were paid 100 per cent-principal with
interest in full amounting to an additional dividend of 9.6 per cent.
Total pay
ments to creditors, including offsets allowed, aggregated $422,351, and the
stockholders received $8,584, together with the assets remaining uncollected.
The First National Bank of Summerfield, Ohio, in receivership December 21,
1933; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 8 per cent.
Total pay
ments to creditors, including offsets allowed, aggregated $125,197, and the
stockholders received $7,407, together with the assets remaining uncollected#
The First National Bank in Webster Groves, Missouri, in receivership
March 1, 1934; depositors and other creditors were paid 100 per cent principal
with interest in full amounting to an additional dividend of 9.662 per cent.
Total payments to creditors, including offsets allowed, aggregated $289,2’67,
and the stockholders received $7,267, together with the assets remaining un
collected.
The First National Bank of Roodhouse, Illinois, in receivership February 1,
1933; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 6 per cent#
Total pay
ments to creditors, including offsets allowed, aggregated $281,243, and the
stockholders received $610, together with the assets remaining uncollected.
The First National B ank of F-^yetteville, Tennessee, in receivership
April 9, 1934; depositors and other creditors were paid 100 per cent principal
with interest in full amounting to an additional dividend of 8.443 per cent.
Total payments to creditors, including offsets allowed, aggregated $374,372,
and the stockholders received $7,453, together with the assets remaining un-*
collected.
The First National B ank of Brockway, Pennsylvania, in receivership
February 11, 1932, the liabilities of the institution having theretofore been
assumed by another bank.
The receiver was appointed for the purpose of col
lecting an assessment against the stockholders to
assets sold.
cover a deficiency in the
Disbursements during receivership, including offsets allowed,
segregated $28,416, which represented 27.62 per cent of total liabilities.
-3-
The National Bank of Snow Hill, North Carolina, in receivership January 11,
1932j dishursements, including offsets allowed, to depositors and ether creditor
aggregated $86,987, which represented 70.88 per cent of total liabilities.
Un
secured depositors received dividends amounting to 41.2 per cent of their claims
The First National Bank in Brockway, Pennsylvania, in receivership February
11, 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
$703,016, which represented 100,69 per cent of total liabilities.
The First National B ank of Ralls, Texas, in receivership January 6, 1931;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $84,652, which represented 91.62 of total liabilities*
Unsecured
depositors received dividends amounting to 88.1 per cent of their claims.
The Dawson City National Bank of Dawson, Georgia, in receivership November
14, 1932; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 18.17 per cent.
Total
payments to creditors, including offsets allowed, aggregated $498,548, and the
stockholders received $4,750, together with the assets remaining uncollected.
The South Ashland National B ank of Chicago, Illinois, in receivership
June 27, 1932; depositors and other creditors were paid 10Q per cent principal
with interest in full amounting to an additional dividend of 5.309 per cent.
Total payments to creditors, including offsets allowed, aggregated $116,495, and
the stockholders received $2,597, together with the assets remaihing uncollected.
The First National B ank of Farnhamville, Iowa, in receivership July 28,
1933; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 7.95 per cent.
Total
payments to creditors, including offsets allowed, aggregated $184,790, and the
-4~
stockholders received $3,044, together with the assets remaining uncollected.
The Snell National B ank of Winter Haven, Florida, in receivership January
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
$108,206, which represented 79.30 per cent of total liabilities.
The Exchange National Bank of Spokane, Washington, in receivership January
18, 1929; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 2.833 per cent.
Total
payments to creditors, including offsets allowed, aggregated $8,983,623, and
the stockholders received $21,616, together with the assets remaining uncollected.
The First National
Bank of Manistee, Michigan, in receivership December 12,
1933; depositors and other creditors were paid 100 per cent principal with
interest in full amounting to an additional dividend of 10.538 per cent.
Total
payments to creditors, including offsets allowed, aggregated $680,362, and.the
stockholders received $849, together with the assets remaining uncollected.
The First National B ank of Maquon, Illinois, in receivership August 14,
1929; depositors and other creditors were paid 100 per cent principal and a
portion of the interest, amounting to an additional dividend of 1.48 per cent.
Total payments to creditors, including offsets allowed, aggregated $161,667.
The Harveysburg National B ank of Harveysburg, Ohio, in receivership
October 25, 1933; depositors and other creditors were paid 100 per cent principal
with interest in full amounting to an additional dividend of 8.206 per cent.
Total payments to creditors, including offsets allowed, aggregated $78,804, and
the assets remaining uncollected were returned to the stockholders.
>-5-
The City National Bank of Sumter, South Carolina, in receivership July 21,
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
$223,320, which represented 100 per cent of total liabilities.
The stockholders
received $1,611, together with the assets remaining uncollected.
The Security National B^nk of Mobridge, South Dakota, in receivership
September 11, 1931; disbursements, including offsets allowed, to depositors and
other creditors aggregated $143,117, which represented 75.05 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 27.38 per
cent of their claims.
The
First National Bank of Buffalo Center, Iowa, in receivership January 20,
1933, disbursements, including offsets allowed,
to depositors and other creditors
aggregated $82,118, which represented 89.02 per cent of total liabilities.
Un
secured depositors received dividends amounting to 84.15 per cent of their claims.
The State National B^nk of Iowa Falls, Iowa, in receivership July 7, 1932;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $333,366, which represented 78.93 per cent of total liabilities.
Un
secured depositors received dividends amounting to 67.15 per cent of their claims.
The Farmers National B^nk of New Bedford, Illinois, in receivership
October 1, 1931; disbursements, including offsets allowed, to depositors and
other creditors aggregated $99,910, which represented 102.61 per cent,of total
liabilities.
Unsecured depositors received dividends amounting to 97.25 per
cent of their claims.
The Kansas National Bank of Kansas, Illinois, in receivership December 17,,
1930, disbursements, including offsets allowed, to depositors and other
creditors aggregated $228,170, which represented 85*89 per cent of total
re
liabilities.
Unsecured, depositors received dividends amounting to 82.17 per cent
of their claims.
The Whiteland National Bank of Whiteland, 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 8.08 per cent.
Total
payments to creditors, including offsets allowed, aggregated $115,520, and the
stockholders received $2,249, together with the assets remaining uncollected.
The First National Bank of Versailles, Missouri, in receivership November
15, 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 $8,516,
which represented 18.30 per cent of total liabilities.
The First National Bank of Bradford, Ohio, in receivership May 1, 1934;
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 9.04 per cent.
Total payments to
creditors, including offsets allowed, aggregated $485,413, and the stockholder^
received $5,391, together with the assets remaining uncollected.
The National Bank of Milton, Iowa, in receivership June 25, 1932; disburse
ments, including offsets allowed, to depositors and other creditors aggregated
$72,541, which represented 86.44 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 83.98 per cent of their claims.
The First National Bank of Junction City, Arkansas, in receivership December
3, 1930; disbursements, including offsets allowed, to depositors and other credit
ors aggregated $280,803, which represented 94.73 per cent of total liabilities.
Unsecured depositors received dividends amounting to 95.14 per cent of their
claims
-7The First National Bank of Mill ¿boro i Penn sylvan ik* in receivership Ajbril
28, 1931} disbursements, including offsets allowed,
to depositors and other
creditors aggregated $91,708, which represented 85.39 per cent.of total liabili
ties.
Unsecured depositors received dividends amounting to 82.08 per cent of
their claims.
The WalU'.iil National Bark of Walthill, Nebraska, in receivership July 20,
1931; disbursements,
including offsets allowed, to depositors and other credit
ors aggregated $67,523, which represented 74.46 per cent of total liabilities*
Unsecured depositors received dividends amounting to 64.6 per cent of their
claims.
The First National Bank of Elba, Alabama, in receivership October 6, 1931;
disbursements, including offsets allowed,
to depositors and other creditors
aggregated $209,992, which represented 56.37 per cent of total liabilities.
Unsecured depositors received dividends amounting to 12.6 per cent of their
claims.
The First National Bank of Coin, Iowa, in receivership September 8, 1931;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $83,820, which represented 71:«37 per cent of total liabilities.
Unsecured depositors received dividends amounting to 63.8 per cent of their
claims.
The First National Bank of Carlsbad, California, in receivership February
15, 1933; disbursements, including offsets allowed, to depositors and other
creditors aggregated $88,548, which represented 87.58 per cent of total liabili
ties,
Unsecured depositors received dividends amounting to 79,75 per cent of
their claims.
The First National Bank of Thompson, Iowa, in receivership June 28, 1932;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $170,193, which represented 81.15 per cent of total liabilities.
Unsecured depositors received dividends amounting to 70.95 per cent of their
claims#
The First and Farmers National Bank in Luverne, Minnesota, in receivership
March 23, 1931; disbursements, including offsets allowed, to depositors and
other creditors aggregated $577,213, which represented 64.20 per cent.of total
liabilities.
Unsecured depositors received dividends amounting to 38.18 per cent
of their claims.
The First National Bank of Englewood, Kansas, in receivership January 4, 1933
disbursements,- including offsets allowed,
to depositors and other creditors
aggregated $84,204, which represented 82.24 per cent of total liabilities#
Unsecured depositors received dividends amounting to 30 per cent of their claims.
The First National Bank of Bishopville, South Carolina, in receivership
January 18, 1930; disbursements, including offsets allowed, to depositors and
other creditors aggregated $232,973, which represented 40.88 per cent of
total liabilities.
Unsecured depositors received dividends amounting to 25.975
per cent of their claims.
The Citizens National Bank of Albert Lea, Minnesota, in receivership
February 18, 1927; disbursements, including offsets allowed, to depositors and
other creditors aggregated $777,919, which represented 81.98 per cent.of total
liabilities.
Unsecured depositors received dividends amounting to 78.49 per
cent of their claims.
The First National Bank of LeSueur, Minnesota, in receivership February
15, 1933; disbursements, including offsets allowed,
to depositors and other
creditors aggregated $181,751, which represented 50.20 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 41*41 per
cent of their claims.
The First National Bank of Exira, Iowa, in receivership November 3, 1933;
I
disbursements, including offsets allowed, to depositors and other creditors
aggregated $161-,448, which represented 97.66 per cent of total liabilities*
Unsecured depositors received dividends amounting to .96*48 per cent of their
claims*
The First
National Bank of Mesa, Arizona, in receivership June 27, 1932;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $409,092, which represented 92.59 per cent of total liabilities*
Unsecured depositors received dividends amounting to 87.72 per cent of their
claims.
Excluding from consideration 5 of the above banks ‘for which receivers were
appointed to collect stock assessments, the depositors having been paid in full
prior to receivership, there remain 38 receiverships terminated.
In these the
unsecured depositors were paid 100 per cent principal in 16 cases (and in some of
these, all 6r a portion of the interest); in 11 cases the depositors were paid
from 75 to 100 per cent; in 4 they were paid from 50 to 75 per cent; and in only
7 cases did the depositors receive less than 50 per cent.
Dividend payments during September, 1936, by all receivers of insolvent
national banks to the creditors of all active receiverships aggregated
$3,556,137.
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $739,498,353.
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
___________________ .SEPTEMBER 1936______________________
Date of
Failure:
The National Bank of Hudson, Hudson, Wise. *
Peoples National Bank of Burgettstown, Pa.
First National Bank, Mayville, Wise. *
First National Bank, Summerfield, Ohio *
First National Bank IN Wehster Groves, Mo. *
First National Bank, Roodhouse, 111.
3- 1-34
I-II-32
3- 23-34
12- 21-33
3- 1 - 3U
2-1-33
Total
Disbursements
Including
Offsets Allowed:
$
W+ 7 ,356.00
169,922.00
1+22,351.00
125,197.00
2S9 ,267.00
281,2^3.00
First National Bank, Fayetteville, Tenn. *
U-9- 3U
First National Bank of, Brockway, Pa. 1/
2- 11-32
The National Bank of Snow Hill, Show Eill,N.C. 1 - 11-32
First National Bank IN Brockway, Pa. 1/
2- 11-32
First National Bank, Ralls, Texas
1 - 6-31
Dawson City National Bank, Dawson, Ga.
ll-lU-32
37^.372.00
28,Ulo.OO
86.987.00
703,016.00
8U, 652.00
U 93.5US.OO
6- 27-32
7-28-33
1 - 19-33
l-lS-29
12- 12-33
8- 1 U-29
116 .U95.00
13U,790.00
108,206.00
8,983,623.00
680,362.00
16 1 ,667.00
Harveyshurg National Bank, Harveysburg, Ohio * 10-25-33
City National Bank, Sumter, S. C. 1/
7- 21-32
Security National B ank, Mohridge, S. D.
9- 11-3 1
First National Bank, Buffalo Center, Iowa
1 - 20-33
State National Bank, Iowa Falls, Iowa
7-7-32
Fanners National Bank, New Bedford, 111.
10- 1-31
73-,SOU.OO
223,320.00
1^3,117.00
82,118.00
333,366.00
99,910.00
South Ashland National Bank, Chicago, 111.
First National Bank, Farnhamville, Iowa *
Snell National Bank, Winter Haven, Fla. 1/
Exchange National Bank, Spokane, Wash.
First National Bank, Manistee, Mich*
First National Bank, Maquon, 111.
Per Cent
Total
Returns
to All
Creditors:
106.51
106.51
107.27
Per Cent
Dividends
Paid
Unsecured
Claimants:
100.068
109.53
109.6
106.^2
IOU .62
10U .70
108.
109.6628
106 .
10U.6S
27.62
108 .UU 3
27.6274
70.88
100.69
91.62
103.88
100.83
iou .73
79.30
101.67
103.92
10 1.3 1
10^.51
100 .
75.05
89.02
73.93
102.61
Ul.2
9.5975
SS.l
118.17
105.309
107.95
79.30331
102.833
110.533
10 1 .Us
103.206
49.6H 715
27.33
SU .15
67.15
97.25
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
____________________ SEPTEMBER 1936 ________
Continued:
Date of
Failure:
Total
Disbursements
Including
Offsets Allowed:
228 ,I7 O.OO
115,520.00
3,516.00
435,413.00
72,5^1.00
230,803.00
Per Cent
Total
Returns
to All
Creditors:
P A v Cent
Dividends
Paid
Unsecured
Claimants:
85 „89
106.01
1 8 .30
82.17
108.08
18.0654
109.04
83.98
95.14
Kansas National Bank, Kansas, 111.
Whitelana National Bank, Whiteland, Indiana *
First National Bank, Versailles, Mo.
if
First National Bank, Bradford, Ohio *
The First National Bank of Milton, Iowa
First National Bank, Junction City, Ark.
12-17-30
10-3 -3 3
11-15-33
5- 1 -3 U
6-25-32
12-3-30
First National Bank, Millshoro, Pa.
Walthill,National Bank, Walthill, Nehr.
First National Bank, Elba, Alabama
First National Bank, Coin, Iowa
First National Bank, Carlsbad, Calif.
First National Bank, Thompson, Iowa
4-28-31
7-20-31
10- 6-31
9-S-31
2-15-33
6- 28-32
91,708.00
6 7 ,523.00
209 ,992.00
83,320.00
88,548.00
170,193.00
First & Farmers Nat’l Bank IN Luverne, Minn.
First National Bank, Englewood, Kansas
First National Bank, Pishopville, S. C.
Citizens Nat’l Bank, Arbert Lea, Minn.
First National Bank, Le Sueur, Minn.
First National Bank, Sxira, Iowa
3-23-31
i-U-33
1- 18-30
2- 13-27
2-15-33
11 - 3-.33
577,213.00
84,204.00
232,973.00
777,919.00
18 1 ,75 1.0 0
161 ,448.00
81.9 8
50.20
9 7.6 6
30.
25.975
73. ^9
4l.4l
96.48
First National Bank, Mesa, Arizona
6- 27-32
409,092.00
92.59
87.72
*
$
104.27
8o.44
9*+.73
85*39
7 ^.U6
56.37
71.37
87.58
81.15
64.20
32.24
40.88
82.08
64.6
12 .6
6 3 .s
79.75
70.95
3 8 .1 8
Formerly in Conservatorship.
ly Receiver appointed to levy and collect stock assessment covering deficiency in value of assets so
to complete -unfinished liquidation.
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE. HORNING NEWSPAPERS,
Tuesday. October 6 . 1936._______
10/5/36
Press Service
c 3 7
Secretary o f the Treasury Morgenthau announced la s t evening
that the tenders fo r 150,000,000, or thereabout s 9 o f 273—day
Treasury h ills * dated October 7, 1936* and maturing July 7, 1937,
which were offered on October 2 , were opened at the Federal Reserre banks on October 5.
The to ta l amount applied fo r m s $175,240*000, o f which
Ì5O9O459OO0 was accepted.
Except fo r one bid o f f§,0QO, the
accepted bids ranged in p rice from 99.886, equivalent to a
rate o f about 0*150 percent per annum, to 99.873, equivalent
to a rate o f about 0*167 percent per annum, on a bank discount
basis*
Only part o f the amount bid for at the l a t t e r price was
accepted*
The average p rice o f Treasury b i l l s to be issued is
99*877 and the average rate i s about 0.162 percent per annua on
a bank discount basis*
TREASURY DEPARTMENT
Washington
JOE RELEASE, MORNING NEWSPAPERS,
Tuesday. October 6, 1936,________
Press Service
N o • 8~59
10- 5- 3 6 .
Secretary of the Treasury Morgenthau announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury bills, dated October 7, 1936,
and maturing July 7, 1937, which were offered on October 2, were opened at the
federal Reserve Banks on October 5*
^
The total amount applied for was $175,240,000, of which $50,045,000 was
t
accepted.
Except for one bid of $5,000, the accepted bids ranged in price from
99.886, equivalent to a rate of about 0.150 percent per annum, to 99,873,
equivalent to a rate of about 0,167 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 99.877 and the average rate is about 0.162
percent per annum on a bank discount basis.
ooOoo
¿
à
CANADIAN "
During, the Pogioà'^Jginigry^^"^'
1■^p^emliqi11S6|'""1L936 .
(PXftl 1,m1napy Figugeo,)
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N. H.
Massachusetts •
Michigan
New York
Philadelphia
St. Lawrence
San Diego
San Francisco
Vermont
Washington
( P i ,Mjiiü¡]||iiii.i try
:
Douglas
Fir
(Bd. Ft.)
—
Sawed Timber and Lumber
: Western
: Mixed Fir : Total Fir
: Hemlock
: & ^ m l o c k : & Hemlock
: (Bd. Ft.) :
(Bd. Ft.): (Bd. Ft.)
60,524)289
24,582,689
288,528
8,090,707
4,941,586
11,284,478
48,758
11,889,085
65,228
5,022,328
11,010,176
19,597
274,995
656
399,201
7,188,966
98,049
-
2,470,880
457,440
95,064
5,072
16,285,636
—
1,573,972
3,308,004
•
«
•
89,225
199,347
22,382,132
2,958,707
•
—
«as
m
mm
19,423,425
«ft
mm
—
m
m
m
nf1 ni1u h HT1' it1111h i‘Mrrw''HPwi|i"f^r>."a.:rrrijm5 )
107,489,110
43.01
386,577
2,958,707
10,561,587
5,399,026
11,379,542
53,830
28,174,721
65,228
26,019,725
14,318,180
19,597
274,995
656
468,426
7,388,313
The Commissioner of Customs today announced preliminary figures
for the imports of Douglas fir and Western hemlock, under the quota
provisions of the Canadian Trade Agreement, for the period from
January 1 to September 26, 1936, and the percentage
that such imports
bear to the total allowable under the quota, as follows:
~ ...- -...... .....
OFFICE OF THE COMMISSIONER OF CUSTOMS
A
Sta
October 6, 1936,
TO MR. FUSSELL
(Room 289,
‘
Treasury Department)
FROM MR. FREEMAN l
There is attached a tabulation for immediate release showing
preliminary figures on imports of Douglas fir and Western hemlock,
under the quota provisions of the Canadian Trade Agreement, during
the period from January 1 to September 26, 1936.
When the tabulation has been mimeographed, kindly have 40
copies forwarded to me at Room 415, Washington Building.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
p rpqq c;p r v io p
Tuesday, October 6, 1936.
No. 8-SO
The Commissioner of Customs today announced preliminary figures for
the imports of Douglas fir and ..estern hemlock, under the Quota provisions
of the Canadian Trade Agreement, for the period from January 1 to September
26, 1936, and the percentage that such imports bear to the total allowable
under the quota, as follows:
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Connecticut
Dakota
Duluth
Los Angeles
Maine & N.H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Diego
San Francisco
Vermont
Washi ngton
Sawed Timber and Lumber____________
W estern : Mixed Fir :Total Fir
:
Hemlock : & Hemlock :& Hemlock
:
(Bd. Ft.) : (Bd. Ft.)
:(Bd. Ftj L — 1
Douglas
Fir
60,524,289
____________
24,582,689
22,382,132
107,489,110
__________________ ____________
43.0#
288,528
98,049
2,958,707
8,090,707
4,941,586
11,284,478
48,758
11,889,085
65,228
5,022,328
11,010,176
19,597
274,995
656
399,201
7,188,966
2,470,880
457,440
95,064
5,072
16,285,686
1,573,972
3,308,004
— oOO'
89,225
199,347
19,423r425
386,577
2,958,707
10,561,587
5,399,026
11,379,542
53,830
28,174,721
65,228
26,019,725
14,318,180
19,597
274,995
656
488,426
7,388,313
J
IMPORTS ΠK D COMMODITIES FROM YHE PHILIPPINES TMDER QUOT|r 1
PROVISIONS ^ / P H I L K P I N E I N D E P ^ f c c E ACT A N D / J O R D ^ A C Ç . Æ 19^5
/
DurJ^^g the Period Januëry I| to Septpinber 26, 1936
(Preliaiinary ÿigurej
i
Customs Districts
i
TOT5ÄL IMPORTS
Per Cent of Quota
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maine
Maryland
Massachusetts
Michigan
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St* Lawrence
St* Louis
San Francisco
Virginia
Washington
Wi soonsin
i
Coconut Oil :
(Pounds)
:
244,379 »261
54.5#
•
—
16,492,673
3,250,500
24,942,830
m
41,115,260
121,422,901
7,938,812
S u g a r s
Refined
s Unrefined
(Pounds)
: (Pounds)
98,530 ,368
88.0#
-
5,000
•»
19,376,012
-
499,329
*
3,744,293
25,679,060
•
•
7,135,357
•
42,093,317
-
Quota year commenced May !•
[Pr<
id by Divij
1,640,650,670
91.6#
2,753,250
45.9JÎ
11,922,506
9,016,528
9,117
81,623,296
11,285,449
232,295
28,381
m
296,515,680
476,084,748
-
—
•
29,212,530
•
5,750
-
:
: Cordage*
: (Pounds)
fr^ ™ gtgfrtgffir8*aïï^
78,836
623,666,375
—
w
w
130,618,459
29,676
-
•
66,789
261,483
4,530
30,496
6,251
25,776
999,207
2,048
45,633
11,371
97,110
13,615
1,837
128,876
546,186
17,679
145,690
87,997
The Commissioner of Customs today announced preliminary
figures for imports of commodities coming into the United
States from the Philippine Islands, under the quota provisions
of the Philippine Independence Act and the Cordage Act of 1935,
for the period January 1 to September 26, 1936, and the percentage
that such imports bear to the totals allowable under the quotas,
as follows:
<^(o
O FFIC E OF THE COMMISSIONER OF CUSTOMS
October 7, 1936
MR. FUSSELL
Roam 289 » Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures for imports of commodities coming into the
United States from the Philippine! Islands, under the quota provisions of
the Philippine Independence Act and the Cordage Act of 1935, for the
period January 1 to September 26, 1936.
When this tabulation has been mimeographed, will you kindly
have 15 copies forwarded to me at Room 415, Washington Bldg.?
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Press Service
No. 8-61
Thursday, October 8, 1936.
The Commissioner of Customs today announced preliminary figures for imports of
commodities coming into the United States from the Philippine Islands, under the
quota provisions of the Philippine Independence Act and the Cordage Act of 1935,
for the period January 1 to September 26, 1936, and the percentages that such
imports bear to the totals allowable under the quotas, as follows:
Customs Districts
, _
~. -
- - - . - «, 16,492,678
3, 250, 500
24, 942, 830
- - -. - - , «
41, 115, 260
121, 422, 901
1,640,650,670
91.6$
11,,922,,506
,016,,528
9,,117
- m — - «
-
-
- , î»
M
«.
«
-. «
-
.-
-
►
- •*
19, 376,,012
81,,623,,296
11.,285,,449
- - - - ~ - «
296,►315,,680
476,,084,,748
25, 679,,060
78,,836
623,, 666,,375
-
-
—
-
- ■-
-
. * +*
~
3, 760
42, 093,,317
Quota year commenced May 1
-
-
-
-
«
-
-
-
—
29,,676
** - - «
~
-
7* 133 j,357
w
«
499,,329
- - - - - ~■ - ~ 3, 744,,293
«
29, 212, 530
-
-
o
-
v, 938, 812
- - - « •-
:
: Cordage*
: (Pounds)
98,530,368
88.0$
5,
—
S u g a r s
Unrefined
.
*
(Pounds)
:
00
H
to
*
Refined
(Pounds)
CO
1—l
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maine
Maryland
Mass achus e 11 s
Michigan \
New Orleans
New Yorü’
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Lawrence
St. Louis
San Francisco
Virginia
Washington
■■Wisconsin______
244,379,261
54,5$
:
i
:
o
o
o
TOTAL IMPORTS
Per Cent of Quota
•
•
îCoconut Oil
ï (Pounds)
— —
«
,459
2,753,250
45.9$
232,295
28,381
-
66,789
261,483
4,530
- « «
30,496
6,251
25,776
999,207
2,048
45,633
11,371
97,110
13,615
1,837
128,876
546,186
17,679
145,690
87,997
After mature consideration, decision has been reached
to destroy the stock of unused and obsolete tax-exempt Potato
¥
4
Ta.
42xAt4r^-m> ¿Vex Sr—/
Stamps^
Suamp collectors and philatelic organizations '
made representations that the stamps had no philatelic value,
em i
v
terms.
The stamps had no face value as expressed in monetary
/
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Thursday, October 8, 1036.
Press Service
No. 8-62
After mature consideration, decision has been reached to destroy the
stock of unused and obsolete tax-exempt Pota,to Stamps, previously referred
to in Press 'Service No, 8-1, August 1* 1936,
Stamp collectors and philatelic
organizations made representations that the stamps had no philatelic value.
The stamps had no face value as expressed in monetary terms.
ooOoo
Under
arrangments perfected
Treasury
of the P h i l i p p i n e
services
f o r the U n i t e d S t a t e s
redeeming
pe:
Adjusted
Islands
will
today
the
p e r f o r m fiscal-agency
T r e a s u r y ^ in receiving
Service bonds.
Previously
it h a s
and
b e e n necc
TO
-
2-
TREASURY DEPARTMENT
« fed
Washington
OR IMMEDIATE RELEASE,
hursday, October 8, 1936*
Press Service
fNn» 8-63
Under arrangements perfected today, the Treasury of the Philippine
Islands will perform fiscal-agency services for the United States Treasury
in receiving and redeeming Adjusted Service Bonds.
Previously it has been
necessary for residents of the Philippine Islands, who hold such bonds, to
transmit them to the United States for redemption.
ooOoo
TREASURY DEPMSMT
1ASHIIST01
FOR RELEASE, MORNING NEWSPAPERS,
Saturday. October 10. 1936.
10/9/36
Press Serrice
£ ,/ u
*
Y
Secretary of the Treasury Morgenthau announced
la s t evening that the tenders for $50,000,000, or there
abouts, of 2?3-day Treasury b i l l s , dated October 14, 1936,
and maturing July 14, 1937, which were offered on October
7,
were opened at the Federal Reserve banks on October 9«
The to ta l amount applied fo r was $192,136,000,
o f which $50,133,000 was accepted.
The accepted bids ranged
in p rice from 99.900, equivalent to a rate o f about 0.132
percent per annum, to 99.891, equivalent to a rate o f about
0.144 percent per annum, on a bank discount b a s is .
Only
part o f the amount bid for at the la t t e r price was accepted.
The average price o f Treasury b i l l s to be issued i s 99.893
and the average rate i s about 0.141 percent per annum on a
bank discount b a sis.
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Saturday» October 10, 1936«_____ _
10-9-36.
Press Service
No. 8-64
Secretary of the Treasury Morgenthau announced last evening that the ten
ders for $50,000,000, or thereabouts, of 273-day Treasury bills, dated October
14, 1936, and maturing July 14, 1937, which were offered on October 7, were
opened at the Federal Reserve Banks on October 9.
The total amount applied for was $192,136,000, of which $50,133,000 was
accepted.
The accepted bids ranged in price from 99.900, equivalent to a rate
of'about 0.132 percent per annum, to 99.891, equivalent to a :rate of about
0.144 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 99.893 and the average rate is about 0.141 percent
per annum on a bank discount basis.
ooOoo
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
OCT lit 1936
TO 1®. GASTON
FROM THE COMMISSIONER OF CUSTOMS:
(Through Assistant Secretary Gibbons)
There is transmitted herewith a statement showing im
ports of distilled liquors and wines, and duties collected
thereon, covering the month of August, 1935, 1936, and the
eight months» period ended August 31, 1935 and 1936,
Inclosure«
DISTILLED LIQUORS (P r o o f G allon »};
S tock In Custom« Bonded Ware»
h ou ses a t b eg in n in g
f e t a l Im port« (F r e e and D u tia b le )
A v a ila b le f o r Consumption
E ntered i n t o Consumption ( a )
Exported ¿gp«ia„„ftugti
!
MM
S to ck in Customs Bended Warehouses
a t end
STILL WINES (L iq u id G a llo n s)*
Stock in Customs Bonded Ware»
h ou ses a t b eg in n in g
T o ta l Im ports (F r e e and D u tia b le )
A v a ila b le fo r Consumption
E ntered In to Consumption ( a )
3*757# 20*
1 ,0 2 2 ,0 4 5
4*773*254
3*701,876
1 * 0 4 2,545
4 ,7 4 4 ,4 2 1
1*351*041
3 8 1 ,535
S tock in Customs Bonded Ware«
hou ses a t e nd
DUTIES COLLECTED ON
D i s t i l l e d L iquors
S t i l l Wines
S p a rk lin g Wines
T o ta l D u tie s C o lle c te d on L iquors
4*282,<)6o
3**30,815
7*313*775
4,167,500
3*757*209
3*501,472
3*397*524
3#501,472
1**37*508
1*541,945
121,859
13**279
129**34
1**95*279
1*759*3*7
1**71*579
1 * 4 ,2 1 4
197*955
1 3 2 ,1 2 9
|(||)1ntrwt•mmmsim '«2j^|jl»L«?l|ir'lrif—'*IKNMIWIWR—
1 ** 07,096
1 * 423,232
1*7**, 588
1 * 1 *1,115
2, 927,703
1*559*000
201,436
1 * ,5 8 1
218,017
x , 553,000
21**919
15*095
23*059
2 3 2 ,0 1 4
3 0 ,3 3 8
134,914
201,436
1 ,5 3 3 ,4 3 5
♦34,7*3*322
10*(
♦ 2, 660,353
l ,5 3 1 ,0 f i 5
232,724
113*341
12*439
2 75,571
$ 2 ,4 1 ^ 4 8 1
6,556
1,3*1,580
tat,
6 ,2 0 8
2 8 8 ,1 6 4
3 4 ,7 0 8 ,6 1 3
♦ 3 1 ,5 8 0 ,4 5 2 $ 3 7 ,1 2 7 ,4 9 2
8 «4§6
3*030*328
1*478,598
281,956
♦ 3 * 270,071
♦2 , 399,817 $2 , 184,097
1^3*355
1 * 8,958
162,730
--------= * »
- ----------- *1*584
7 2 ,6 « *
- ^ 4 > 2 ,0 3 ?
pther Commodities
f p ta l D u tie s -C o llected
Pbr Cont^Odliagfcsd
4 ,2 2 2 ,5 6 0
7**30,422
11*852,382
*244*803
3*397*524
1 ,5 3 1 ,0 i5
SPARKLING WINES(Liquid G a llo n s)
S toek in Customs Bended Ware
hou ses a t b eg in n in g
T o ta l Im ports (F r e e and D u tia b le )
A v a ila b le f o r Consumption
Entered in t o Consumption ( a )
3*531*750
4 4 0 ,0 6 4
1 , 533,435
325*712
79*795
352,665
150,402
405,507
118,073
134,914
275*571
♦ 21*107,339
1 ** 29,264
* 5 1 ,8 4 6
« 2 3 ,3 8 8 ,4 4 J
839. ^ . 0OT
$262/ 987,536
♦ 20, 030,459
1 ** 91,305
694#4l6
*22,41^X 80
2 1 8 ,0 0 ^ 4 4 4
$240,421,624
9*^
TREASURY DEPARTMENT
Washington
OR RELEASE, MORNING NEWSPAPERS,
n a s d a y . October 15. 1936,______
*
10-12-36.
P‘4 EH'
Press Service
8-65
Imports of distilled liquors and wines, and duties collected thereon, covering
the month of August, 1935, 1936, and the eight months1 period ended August 31, 1935
and 1936^ have been reported by the Commissioner of Customs in the following state—
~~
s
•
August
1936
i
:
July
1936
i
:
August
1935
:
:
8 Months (Jen - Aug)
1936_______ 1935______
XfïSTILLED LIQUORS
(Proof Gallons):
Stock in Customs
Bonded Warehouses
4,222,560 4,282,960
3,591,750
3,701,876
at beginning....• 3,757,209
Total Imports (Free
7,630,422 3,630,815
440^064
1,042,545
and dutiable)•.., 1,022,045
Available for Con11,852,982 7,913,775
4,744,421
sumpt ion......... 4,779,254
Entered into Con
8,373,967 4,167,500
460,432
981,535
sumption (a).,... 1,351,041
Stock in Customs
Bonded Warehouses
3,397,524 3,501,472
3,501,472
3,757,209
at end....... . •• 3,397,524
STILL WINES:
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
1,607,096 1,766,588
1,541,945
1,637,508
at beginning..... 1,559,000
Total Imports (Free
1,423,232 1,161,115
129,634
121,859
136,279
and dutiable)....
Available for Con3,030,328 2,927,703
1,671,579
1,759,367
sumption..«...*•• 1,695,279
Entered into Con1,478,598 1,361,580
132,129
197,955
164,214
sumption (a)....
Stock in Customs
Bonded Warehouses
1,531,065 1,539,435
1,539*435
1,559,000
&.<i/ end•#•#•••••## 1,531,065
SPARKLING WINES:
(Liquid Gallons):
Stock in Customs
Bonded Warehouses
325,712
232,724
281,956
216,919
201,436
at beginning.....
Total Imports (Free
79,795
119,941
6,208
15,095
16,581
and dutiable).....
Available for Con405,507
352,665
288,164
232,014
218,017
sumpt ion.
Entered into Con118,073
150,402
12,439
30,398
23,059
sumption (a).....
Stock in Customs
Bonded Warehouses
275,571
194.914
275.571
201.436
194.914
o/b end#••••##•»•»
DUTIES COLLECTED ON
$3,270,071 $2,399,817 $2,184,097 $21,107,339$20,030,459
Distilled Liquors
162,730
1,629,264 1,691,305
168,958
143,355
Still Wines
72«
654______
651.846
694,416,
91.584
68.613
Sparkling Wines
Total Duties Collected^
, ____ ^
on Liquors
$3,482,039 $2,660,359 $2,419,481 #23,388,449$22,416,180
(a) Including withdrawals for ship supplies and diplomatic use.
TREASURY DEPARTMENT
Washington
Press Service
No, 8-66
FOR RELEASE, MORNING NEWSPAPERS
Tuesday, October 13, 1936,
10-12-36.
Supplementing the announcements made by him on January 31 and February 1,
1934, to the effect that the Treasury would buy gold, and on January 31, 1934,
referring to the sale of gold for export, the Secretary of the Treasury states
that (hereafter, and until, on twenty-four hours notice, this statement of
intention may be revoked or altered) the United States will also sell gold for
immediate export to, or earmark for the account of, the exchange equalisation
or stabilization funds of those countries whose funds likewise are offering to
sell gold to the United States, provided such offerings of gold are at such
rates and upon such terms and conditions as the Secretary may deem most
advantageous to the public interest.
The Secretary announces herewith, and
will hereafter announce daily, the names of the foreign countries complying
with the foregoing conditions.
All such sales of gold will be made through
the federal Reserve Bank of Hew York, as fiscal agent of the United States,
upon the following terms and conditions which the Secretary of
Treasury
deems most advantageous to the public interest:
Sales of gold will be made at $35 per fine ounce, plus
one-quarter per cent handling charge, and sales and earmarking
will be governed by. the Regulations issued under the Gold
Reserve Act of 1934.
0OOO 0
TREASURY DEPARTMENT
Washington
FOR RELEASE MORNING WBBSSÈBmS
Tuesday. October 13, 1936,... .
10/12/36
Pres^ Service
* b~
The Secretary of the Treasury today named. Great Britain and France as
complying with the conditions specified in his press release of October 13,
1936, for the purchase of gold from the United States for immediate export or
■ü
earmark.
The Commissioner of Customs "today announced preliminary
figures for the imports of cattle under the quota provisions
of the Canadian Trade Agreement, for the period January 1 to
October 3, 1936, and the percentage that such imports bear
to the totals allowable under the quota provisions, as
follows:
'A,
Z'-QK
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St* Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
:
:
:
:
Cattle 700
Pounds
Or More
(Head)
:
:
:
:
152,017
97*6%
Dairy Cows
700 Pounds
Or More
(Head)
4,670
23.4^
28,222
3,647
22,438
231
77
562
1
—
11
904
-
44
-
7,084
42,781
1,436
1,328
3,133
22
592
290
19,773
515
2,498
664
131,616
4,670
-
m.
33
-
-
7,522
7,080
5,742
57
-
20,401
-
•
-
NOTE - The quota on cattle weighing less than 175 pounds each has been
filled.
(Pgaparad by DivjqVffl,
i
a
u
of Customs)
Sta
OFFICE OF THE COMMISSIONER OF CUSTOMS
^
October 12, 1936.
TO MR. FUSSELL,
(Room 289 - Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures for the imports of cattle under the quota
provisions of the Canadian Trade Agreement, during the period from
January 1 to October 3, 1936.
When the tabulation has been mimeographed, please have 50
copies forwarded to me at Room 415, Washington Building.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Tuesday, October 13, 1936,
Press Service
N°* 8~88
The Commissioner of Customs today announced preliminary 'figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement,
for the period January 1 to October 3, 1936, and the percentage that such
imports bear to the totals allowable under the quota provisions, as follows:
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Verm .it
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
Sen Diego
Total from Mexico
Cattle 700
Pounds
Or More
(Head')
152,017
.. .
Dairy Cows
700 Pounds
Or More
(Head)
4,670
O<
1 A<d
. 97*6jj&_-- „---- -------—— 23
28,222
3,647
22,438
231
77
562
--- »
7,084
42,781
1,436
1,328
3,133
22
59,2
290
13,773
131,616
1
11
904
•
44
33
g#**»
515
2,498
664 r
4,670
7,522
7,080
NOTE « The quota on cattle weighing less than 175 pounds ea,ch has been filled.
ooOoo
October 12, 1936*
f
CONDENSED CHRONOLOGY OR ACTION WITH RESPECT' TO GOLD
March 6, 1933 to September 25, 1936.
March 6, 1933
March 9
- Banking holiday declared by proclamation of the President.
Banks prohibited from paying out or exporting gold; Govern
ment offices prohibited from paying out gold except under
license.
• - Emergency Banking Act 'extended authority to regulate trans
actions in gold, silver and foreign exchange,
March 10
U Export
April 5
U Gold
of gold prohibited by Executive Order except under
regulations or license.
and gold certificates required by Executive feirder to be
surrendered.
April 19
- Suspension of issuance Ôf licensee io export gold from the
United States for the purpose of supporting the dollar in
foreign exchange market.
April 20
— Executive Order defining authority of Secretary of Treasury
to issue licenses to export or earmark gold.
May 12
- President granted by Earm Reliéf Act additional powers
relating to currency and monetary matters, including the
p w e r to reduce the weight of the gold dollar,
June 5
- "Gold clauses11 declared invalid by resolution of Congress.
July 2
- President1s message to the London Economic Conference
stating monetary objectives,
August 29
- Sale to industry and abroad of domestic newly-mined gold
authorized by Executive Order.
October # 2
- President stated in radio address "it becomes increasingly
important to develop and apply further measures wnich may be
necessary from time to time to control the gold value of our
own dollar at home", and that "the United States must take
firmly in its own hands the control of the gold value of our
dollar11.
•ctober 25
— Reconstruction Finance Corporation authorized by Executive
Order to acquire newly-mined domestic gold.
January 30, 1934
- Gold Reserve Act (among other things) transferred to United
States title to all gold of Federal Reserve System; established
Stabilization Fund; provided that the weight of gold dollar
should not be fixed at more than 60$ of its existing weight,"
January 31
- Weight of gold dollar fixed by proclamation of the President
at 15-5/21 grains of gold 9/lOths fine.
January 31
— Regulations and statements issued governing transactions in
gold, and authorizing purchase of certain types of gold at the
rate of $35 per ounce less one-quarter of one per cent.
Secretary of the Treasury also announced that he would sell
gold for export to foreign central banks whenever our exchange
rates with gold standard currencies reached gold export point.
J a n u W y 10, 1936
- Powers conferred with respect to the Stabilization Fund and
the fixing of the weight of the gold dollar extended by
proclamation of the President until January 30, 1937.
September 25, 1936- Similar statements issued by France, Great Britain and
United States announcing a common policy with respect to
international monetary relations.
?
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
October 13, 1936,
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICESs
(Under Executive Proclamation of December 31, 1933) as amended
Week ended October 9, 1936:
Philadelphia.........................
San F r a n c i s c o ....
Denver............... ....... ,.......
Total for week ended October9, 1936...
Total receipts through October 9, 1936
271,163*81 fine ounces
H
684,372.84
»
H
.17.774*07
«
I!
973,310.72
n
M
105,848,915.75
»
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended October 9, 1936;
Philadelphia
.......
New York..,,,................. .
San Francisco..,........ ............
Denver,.....................
New Orleans,.,....,................
Seattle*................. .**,....,..
Total for week ended October 9, 1936,,
Total receipts through October 9, 1936
146*00 fine ounces
4,526.22
«
»
43.25
«
»
4,715*47
112,980,754.27
w
»
*
«
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended October 9, 1936;
Philadelphia
New York.
San Francisco.
Denver,..............
New Orleans ..,.’*),*****’**
Seattle,
,,,,.,’*|\*
Total for week ended October 9
New
Imports_______
Secondary
Domestic
...... ;$
6,211.38 $102,257.67 $
937.05
..... .
119,568,000.00 169,200.00
79,500.00
.......
994,942.18
21,854.30 1,932,751.09
19,558.07
582,133.13
.......
53,522.82
.......
274.58
23,175.62
698.96
11.682.09
511,097.32
Ì936,,..$120,622,950.US $3577727775 f 371077117755
ooOoo
TREASURY DEPARTMENT
O F F IC E O F T H E S E C R E T A R Y
W A S H IN G T O N
COMMISSIONER OF
ACCOUNTS AND DEPOSITS
October 7, 1936»
TO MR. GASTON:
During the month of September* 1936, the following
market transactions took place in Government securities for invest
ment accounts!
Total purchases • • . * * #47*448*650
Total sales
Net purchases:
10*000
#47,438*650
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday» October 16, 1936*
Press Servie
8-69
Net market purchases of Government securities for Treasury investment
accounts for- the calendar month of September, 1936, amounted to $47,438,650,
Secretary Morgenthau announced today.
ooOoo
TBE ASHBY DEPARTMENT
Washington
MEMORANDUM POR THE PRESS
October 19, 1936.
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES:.(Under Executive Proclamation of December 21, 1933) as amended
Week ended October 16, 1936s
Philadelphia................. ............... .
San Francisco..............................
Denver...........................
.....
.
Total for week ended October 16, 1936.......
Total receipts through October 16, 1936.... .
534,320.96 fine ounces
it
If
H
H
It
11
It
H
SILVER TRAISFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended October 16, 1936:
Philadel-ohia
.... ........... .............
102.00 fine ounces
New York * --- ....................;....... ... ^ .. *
304.00
"
»
San F r a n c i s c o . ....*.............. ............ .. #
„ _
Denver ....... ................ ...... .
.
« « «
New Orleans ........ ................ ..............
.. ~
Seattle.............. .............. ..............
- ~ Total for week ended October 16, 1936.............
406,00
ir
H
Total receipts through October 16, 1936,.......... .112,981,160.27
«
#
RECEIPTS OE G-OLD BY THE MINTS AND ASSAY OFFICES:
. •
New
Week ended October 16, 1936:
Imports___ _
Secondary
Domestic
Philadelphia........ .....
........$
5,862,96 $105,312.48 $
534.21
New York.,........... ... ..
....... 27,067,600.00
95,400,00
237,800.00
San Francisco....... .
........
643,022.74
26,396.02 1,343,030.16
Denver..,.... ..............
.. .----32,402.48.
17,394.60
746,135.67
New O r l e a n s ...... .......
17,373,77
- « ---- ~
Seattle,........... .
7.257.79
764.421.93
Total for week ended October 16, 1936.,$27,748,888.18 269,134.66. $3,091,721.97
Probably the nearest approach that this Govern*#at has ever mad® to
the system of double budget
was under
President Hoover In 1932 with the
application of the policy of showing the net expenditures of the
Recons traction Finance^ Corporation over anil above ill© amount of capital
stock as "public debt* transactions*
cluded in the analysis
of receipts
Such expenditures were not in
and expenditures
of general
accounts either in the daily Treasury statement or in the
and the deficit of the Hoover administration
by this amount*
was
and special
àimml
Budget,
thereby understated
Hais method of treating the net expenditures of the
leçonstraction Finance Corporation was changed by the present administra
tion on July 1, 1933* mo as to include1 them- along with other expenditures
%UL
aemx- accounting' metanas*
im the contrary they reveal that every change
made by the present administration has been in the direction of greater
clarity and ^emiier in reporting the receipts and expend!tores of public
funds
¡ip
ggg:
ir
■* Hooverju in «peaking of his Formula Ho* 1* states that one
Mr,
A
of the easiest methods of reducing Government expenditures is wJust don't
put them in before you announce the total**
There has .been much loose talk about trie use of a double budget
and double bookkeeping*
There is no such thing in the United States Govern
ment as a double budget* nor is there any system of double bookkeeping*
Probably no government in the world and no business enterprise no matter
what its size* is more meticulous than the United States Treasury Department
in keep!ng'^end making public accounts of the money it receives and pays out«
In order that the public may be informed as to the uses made of the
funds appropriated the Treasury classifies its expenditures into two divisions,]
.
St
IS S
namely* "general” and "recovery and relief •* /jExpend-itw p » » -undsr-t^e^first-
ihe
A
iii)
»for
-'“mTHjjTr ny f— ■p r u i I These el&ssifioations do not indicate double bookkeeping
or In any sense a double budget*
They were adopted by the Treasury on «July 1»
$'' -
¿w •-
1933j so as to show the public the purpose for which the appropriations were us*
a:
available la various adairlsiretive accounting reports^\
la the
annual statement of receipts and expenditures submitted to the
Congress pursuant to Bee. 1$ ©f the Act of July 31# 1*994» the
Treasury has roportad detailed. information concerning expenditures
under both annual and recovery appropriations in the & *m manner as
has bmm ©«ployed over a long period of years*
Treasury ha® mads available as of June 30* 1936* a 509 page report
showiog the allotments and expenditures made under the lisergeaey
Belief Appropriation Act of 1935*
M s
statement start not only
the organisations to «hied the allotments were made* but the type
*10-
Bridget in the estimated expenditures for the year 1937# there appears
am item of $1,000,000 la home» type dB* m d * r the caption »Oils
Project Arisen*» and immediately following this item is another
item in the seae sis# type ^but in italics n6®^ for the purpose of
Emergency Itxpenditorea (Sncrgeney belief Act of 1935) #1,400,300**
This
method of
presentation conveys to the public the informatics
that the estimated eatpeaditur^|| on account of the &11* Beelsm t l n
I /" *
\As
Project in 1937 is #2,400,000, of which #1,000,000 m m
am annual appropriation and 11,100,000 from the appropriation provided
/ ^
im -the
Iheigeaegr Belief Appropriation. let of 1935*
1
d«» d e a r e r , simpler or more s ti^ht* forward «my of
presenting
in the most convenient form detailed information concerning the
expenditure of fuod& under the recwwmry and relief appropriations in
the «
al budget, bat the Treasury has mad® such Information dm©
thm annual appropriations of the various department* and establish-
•outs*
The Treasury considers it fundamental that expenditures fro*
the lump-sum appropriations wide available to the President for
recovery and relief b© accounted for separately fro* the funds granted
by the Congress to the departments la the annual appropriation acts,
It is to be noted, however, in this connection, that the Treasury
Depart»®»! in its annual reports and once each south in the daily
Treasury statement (published as of the 15th of the month} reports the
same Information with respect to expenditures from recovery and
relief funds as it does with respect to the expenditures from annual
appropriations, ordinarily referred to as general expenditures*
From the statement mad© by Hr* hoover, one would be led to
believe that expenditures from the recovery funds are concealed
l*/ lA*
t
through the use of small print^
This is not true.
The fact Is
that the detailed expenditures from recovery funds are printed in the
statements .in Italics)immediately following the related Item
payable fro* regular funds.
For example, on page A-lT of the lfJ7
,v.f. MAnd t M £ is & such more potent formula
far J n g g U a g scoreboard®,
In tile days of the old-tine
arithmetic the President and the Director of the i*udg@t
yearly fought each of the Federal bureau* over every item of
expenditures.
C&mgrem fought at the items and finally
* “ • a detailed appropriation for each of them, down to the
m l & r y of every clerk.»
*
.
X* di*cuesia^
»0- 3f disUftOtlon m e t be made between
c A
fin) irjj,,,i^mi-gil,M,
¿2*rw.y #
Titrate
S
£*^a»*4~' su*a*v e^4tAArpuLsJ2*wtA ftrv nMttr^uj CuJl
. . mmr fa,
't
Ju'L 6&fL~
0
mmy " nrimiw.™iau.ta^few iewi.d# 1'aTg^fi^hk'e?
ffMT&lft < r t l ^ -i-auxA.
.
.
...
7 / l f U « U < 4
and \me me
accounting and reporting a d o r e d ■
>t\
**** ^reseury Department in connection with such axpeadi'turcs.
¿s to the i o m e r , the Congress authorised President hoosevalt
to utilise the established departments and agencies of the Govern-
mmt ^
TO *
doting the unemployment problem.
the primary object
m t ? * * & • to *ork &md projects were not rejected simply be-
o m rn the/ S«r© of a type that had been carried on fcy established
Federal agencies.
In accounting sad reporting »ith r e s e c t to recovery expenditures
the T r e a s u r y * . followed the » a ® details systsn of accounting sad
reporting as
hue bam followed in connection »ith the htawilii»: of
Thus, in criticising the method of accounting for revolving funds
â^fpŸ'
used by the present administration Mr# Hoover is c o n d e m n i n g ^ practice^*! ch"
»end
IruT
One important ohangeCin the direction of a more complete report*
ing of these funds has been made by this administration*
The Daily Statement of the Treasury has ~gey*»eoas tim e
wttSSHmiwsd^he gross expenditures of^credit agencies of the Government
l ^ A c A
^ o p e r a t i c on revolving funds« as well as the repayments received on account
of loans made from such funds
Q X “C fcl
*6 '
AJLC^Ux-VV-iU
a
CÍ a .Q,^
?r&*£tujr'Hr¡\
—
of the Agricultural Marketing Act of June 15* 1929* Congress^appropriated
#500,000,000 as a revolving fund for use of the Federal F a m
repayments received up to February 28* 1933#
Board*
The
more than #650*000*000 on
account of loans made from this revolving fund were credited back to the
fund and thereby operated to offset expenditures in the fiscal years 1930-
33«
It will be seen that "under the old commandments” repayments to re
volving funds were not* as alleged* covered into the Treasury and subse
quently appropriated by the Congress*
The operations of all revolving funds have been handled in a
similar manner*
For instance* the operations of the Reconstruction Finance
Corporation during Mr* Hoover's administration reflected a net expenditure
of #1*572»000,000|
yet in arriving at this figure a credit of #366*000*000
was taken for repayments on loans previously made*
as an offset to gross ex
penditures*
Had Mr* Hoover followed the principle underlying his so-called
>
I:.i | )
"old commandments” , he would not have taken credit for the repayments of
£ ^ ^ 4 3 0 8 * 0 0 0 * 0 0 0 and would have reported the gross expenditures of # 1 *9^0 ,000,000
/
f
;
instead of a net of # 1 *5 7 2 ,000*000*
*
"X
U.
VX
It beeoa#« partiaent to in<p*lrc what « r i il» Ö^d (^miaandaents.
lolita* ita uoo of revolving funde sor ita 'Treasury1o accounting prò-
ec&ure
in connection with the® Is new in Government finance,
Secretary Odioso* annual report for I9 19 ,
ta m i l od ita attention of ita Congress to the treasury* s objection
to this method of appropriating fonde»
He said in parti
"By each appropriations the revenues of the Government
affected never become unconditionally available to neat gen
eral emendi tores, but are appropriated automatically for
epeelal purposes without further control by the Congress and
without any new consideration of the aeriti of the additional
expenditure. These appropriations by their rosy nature tend
to produce expenditures, which, if considered anew, might not
be authorised by the Congress and I believe that their discon
tinuance, to the utmost limit possible, is an essential con
dition of any p r o g » « for rigid economy In Government ex
penditure. *
|u4
the fiscal year
^Secretary He^ton%\report
t^SÚy
IÜ
atte method of handling revolving funds in the Treasury Hally
Ä
Statement and in the Budget taip
P
M
p
aince I9 2 0 . Sta pro*
cedure today la the same pro cadere that was followed through president
huevea* s own administration.
ihr instance* under authority
Here ars President EooTer1» own words on tills subject sis con
tained in his 1932 Budget Message to the Congress:
“In preparing the detailed statements of receipts and
expenditures contained in this Budget, X hays segregated
trust fond* from general funds and special funds, fhie has
Been done for the reason that trust ftmdg do not belong to
the federal Government, hut to the beneficiaries of the
trust: end,, in summarising the financial condition of the
Government, trust funds should therefore be excluded.*
He vent on to say that only general and special funds represent true Government transactions.
1 an not in disagreement with the changes thus effected by
direction of President Hoover. On the contrary the segregation
of trust fund transactions from the financial transactions of the
Government is in ay opinion a distinct improvement in budgetary
procedure and the reporting of financial data.
But whan Hr. loover ascribes responsibility for this change
to the present
,^ 1—'
"7"”.
!T
,
<=*tt»**h»vh e -Auseer sssa U
the
*TOWWk BG. XX: It has always been a rightful principle of Govern
ment accounting under the old commandments to pay all receipts or
all fliml recoveries from revolving accounts into the treasury.
Than Congress appropriates them out and thus holds control of the
expenditures.*
• ï*
if
If
Mr. Hoover sot out Is lite address throe formulas which ho
oíala* the present Administration has adopted for the purpose of
making a distorted presentation of the expenditures of the Govern-
HQ. I t The Boosevelt Administration hap
hat made some beanti
fai eeoaoaies by just omitting certain iteas from its regular ex
penditures before it comes to the tetáis announced to the people.
They appear only to aa appendix:« *
la illustrating the application of this formula he eitos ”th*
expenditures for Government trust accounts and for the District of
Colrabia paid hy the residente1*, and says these items •have been de
leted from totale under President Boosevelt*.
fhe public record shoes that up to July 1, 1930, the Federal
Government did *put does all of the money spent on one side of the
ledger and every cent taken in on the other side of the ledger*, in
cluding trust funds.
But oa May 1, 1930, President Hoover's Director
of the Budget «rote the Secretary of the Treasury, stating:
•She President has asked me to see i t appropriate
arrangements can be made for exhibiting the receipts and
expenditures of the Government in the Budget and in the
dally 'Treasury statements, separately under the captions
{¡BUSSAI* S V m , SPECIAL * » S , and T M 9 JTUiTDS. *
Beginning July 1, 1930, the daily Treasury statement was changed in
this respect to meet the utshss of President Soever,
IT p«rmilt«d to go uach&Xl«sng©df w m n
un^uoafeUwaifly inp&Xr the
confidence of the public la its financial official*, »ith consequent
d©trl®iiat.su. effect on the Fedex**! oredig«
What are the facts?
Tbs fact* «re that tbs Treasury accounts «re kept strictly is
accordance with la*, and are not based upon any partisan political
considerations.
The Treasury subnits to the Congress in accordance
with the law an annual report on the state of the finances, and a
detailed report of receipt* and expenditures of the “Orernhsat for
each fiscal year.
Furthermore, it publishes for every
day a statement showing the condition of the public Treasury.
% 8se
reports are fro* tine to tiae supplemented oy special reports.
The Treasury is constantly studying the for* of its reports, with a
¥lew 40
*«*
informative to the public, rad I believe it
can truthfully be said that ^Jl^Adninistrailon has furnished the
public aore detailed Inforaation on the financial operations of the
Qovernaent than any preceding ¿dainistretlon.
S m
e
w
-
¿*3
7u^nAavMju4.
H e f l L * ,
. "|Sa rm $ ip t$ and *xpmMtw?m& of •the Qov*vwtm% &re
(^*v I 4,A4<<£^U,fT^cf c
M;fl x^
rfeait
¿-7
aid«
I
*® tfiO h«at of t h m ^ c w ^ c d u p w , it ig a©t
1
uao«*»» for poHtic&i speakers to criUolat the expenditure pragma*
oi the
party in
office end in « a y l a s t « « «
tor political purposes in *
u a a e r ehlafc
the feet*
ere
presented
confuse« the paoiio Kind
m t* the real aitumtloa
— gytAfaraii'l
■^i© f r ^ a a r y dot*® aot\fcirtea'
at'
'
A g 1
■
~
—
*- ■
•*— •
) s**.
/
y$k® o f f i c i a l » o t i s t o f aritioi.® « diapeisted
II
at its methods of bookkeeping end filial reporting,
m « .
Ig*
§,-
a fomer President of the United States in « public address chafes
•sh* freasuiy of the United States rtth »intellectual. dishonesty*
"pam iaiona deceit» the public interest da*®«® 'that those charge*
tot ignored.
di& oltlft«&» naturally input* to ® former Prm«JLd«nt intinate
teosledge o f the fin a n c ia l operations o f the OovernaMOt, and whan
Kr. lo o k er a tta c k s th e in te g r ity o f the public accounts, h is s t a t e » « ts
<*
C^tw,
w
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Monday, October 19, 1936.
Préss Service
ITo, 8-70
STATEMENT BY SECRETARY MORGENTHAU
The receipts and expenditures of the Government are frequently made an
important issue in Presidential campaigns.
In the heat of these campaigns, it is
not uncommon for political speakers to critieize the expenditure programs of the
party in office and in many instances the facts are presented for political pur
poses in a manner which confuses the public mind as to the real situation.
The Tre asury does not orainari3.y attempt to check the accuracy of such
statements nor to take official notice of partisan criticism directed at its
methods of bookkeeping and financial reporting.
When, however, a former President
of the United States in a public address charges the Treasury of the United States
with ttintellectual dishonesty11 and Bpernicious deceit11 the public interest de
mands that those charges be not ignored.
The citizens naturally impute to a former President intima,te knowledge of
the financial operations of the Government, and when Mr. Hoover attacks the
integrity of the public accounts, his statements, if permitted to go unchallenged,
might tend to impair the confidence of the public in itstfinancial officials,
with consequent detrimental effect on the Federal credit.
What are the facts?
The facts are that the Treasury accounts are kept strictly in accordance
with law, and are not based upon any partisan political considerations.
The
Treasury submits to the Congress in accordance with the law an annual report on
the state of the finances, and a detailed report of receipts and expenditures
°f the Government for each fiscal year.
Furthermore, it publishes for every
-
2
-
"business day a statement showing the condition of the public Treasury.
ports are from time to time supplemented by special reports.
These re
The Treasury is
constantly studying the form of its reports, with a view to making them more in
formative- to the public, and I believe it can truthfully be said that this
Administration has furnished the public more detailed information on the financial
operations of the Government than any preceding Administration,
Mr, Hoover set out in his address three “formulas” which he clplms the
present Administrât ion.has adopted for the<purpose of making a distorted presenta
tion of the expenditures of the Government,
11FORMULA HO, 1: The Roosevelt Administration has male some beautiful economies
by just omitting certain items from its regular expenditures before it comes to
the totals announced to the people.
They* appear only in an appendix,”
In illustrating the application of this formula he cites “the expenditures
for Government trust accounts and for the District of Columbia paid by the
residents” , and says these items ”have been deleted from totals under President
Roosevelt”,
The public record shows that up to July 1, 1930, the Federal Government
did “put down all of the money spent on one side of the lodger and every cent
taken in on the other side of the ledger” , including trust funds.
But on May 1,
1930, President Hoover*^ Director of the Budget wrote the Secretary of the
Treasury* stating:
“The President has asked me to see if appropriate
arrangements can be made for exhibiting the receipts and
expenditures of the Government in the Budget and in the
daily Treasury statements, separately under the captions
GENERAL FUND, SPECIAL FUNDS, and TRUST FUNDS.”
Beginning Jnly 1, 1930, the Daily Treasury Statement was changed in this
respect to meet the wishes of President Hoover,
- 3 Here are President Hoover1s own words on this subject as con
tained in h i s *1932 Budget Message to the Congress*
^In preparing the detailed statements of receipts and
expenditures contained in this Budget,
I have segregated
trust funds from general funds and special funds.
This has
been done for the reason that trust funds do not belong to
the ^Federal Government, but to the beneficiaries of the
trust; 'and, in summarizing the financial condition of the
Government, trust funds should therefore be excluded**’
He went on to say that only general and special funds repre
sent true Government transactions*
I am not in disagreement with the changes thus effected by
direction of President Hoover.
On the contrary the segregation
of trust fund transactions from the financial transactions of the
Government is in my opinion a distinct improvement in budgetary
procedure and the reporting of financial data.
But when Mr. Hoover ascribes responsibility for this change
to the present Administration he misstates facts*
»PQHMtXLA HQ* XI l It has always been a rightful principle of Govern
ment accounting under the old commandments to pay all receipts or
all final recoveries from revolving accounts into the Treasury*
Then Congress appropriates them out and thus holds control of the
expenditures* *
It becomes pertinent to inquire what were the ’’old commandments.”
Heither the use of revolving funds nor the Treasury1s accounting pro
cedure in connection with them is new in Government finance*
In
Secretary Glass1 annual report for 1919, he called the attention of
the Congress to the Treasury1^ objection to this method of appropriating
funds*
He said in parti
- 4 -
”By such appropriations the revenues of the Government
affected never "become unconditionally available to meet general
expenditures, "but are appropriated automatically for special
purposes without further control "by the Congress and without
any new consideration of the merits of the additional expenditure.
These appropriations hy their very nature tend to produce expen
ditures, which, if considered anew, might not "be authorized by
the Congress and I believe that their discontinuance, to the
utmost limit possible, is an essential condition of any program
for rigid economy in Government expenditure.n
Secretary Houston in his annual report for the fiscal year 1920,
repeated the seme objection.
There has been no change in the method of handling revolving
funds in the Treasury Daily Statement end in the Budget since 1920,
The procedure today is the same procedure that was followed throughout
President Hoover's own administration.
Bor instance, under authority
of the Agricultural Marketing Act of June 15, 1929, Congress, on the
recommendation of President Hoover, appropriated^$500,000,000 as a
revolving fund for use of the Bederal Barm Board.
The repayments
received up to Bebruary 28, 1933, of more than $650,000,000 on account
of loams made from this revolving fund wore credited ba„ck to the fund
and thereby operated to offset expenditures in the fiscal years 193033,
It will be seen that ’’under the old commandments” repayments to
revolving funds were not, as alleged, covered into the Treasury and
subsequently appropriated by the Congress,
The operations of all revolving funds have been handled in a
similar manner.
Bor instance, the operations of the Reconstruction
Binance Corporation during Mr, Hoover's administration reflected a net
expenditure of $1,572 ,000,000; yet in <arriving at this figure a credit of
$368,000,000 was taken for repayments on loans previously made, as an
offset to gross expenditures.
Had Mr. Hoover followed the principle underlying his so-called
w old commandments” , he would not have taken credit for the repayments of
$368,000,000 and would have reported the gross expenditures of
$lè940,000,000 instead of a net of $1, 572,000,000.
QÜhus, in criticizing the method of accounting for revolving
funds used by the present administration Mr* Hoover is condemning
his own practice*
One important change, hut in the direction of a more complete
reporting of these funds has heen made by this administration*
The
Daily Statement of the Treasury has since December 1, 1934 shown
separately the gross expenditures of those corporations and credit
agencies of the Government which operate on revolving funds, as well
as the repayments received on account of loans made from such funds*
•FORMULA, flTO.« 3 jt **And this is a much more potent formula for
juggling scoreboards.
In the days of the old-time .arithmetic
the President and the Director of the Budget yearly fought each of
the Federal bureausover every item of expenditures*
Congress fought
at the items and finally made a detailed appropriation for each of
them, down to the salary of every clerk*w
In discussing formula Ho* 3, distinction must be made between the
manner in which the Congress had made available for expenditure lump-sum
appropriations-'f^r recovery and relief, on the one hand, and, on the
other hand, the accounting and reporting procedure of the Treasury
Department in connection with such expenditures*
As to the former, the Congress authorized President Roosevelt to
utilize the established departments and agencies of the Government
in meeting the unemployment problem*
primary object was to put
people to work and projects were not rejected simply because they were
of a type that had been carried on by established Federal agencies*
In accounting and reporting with respect to recovery expenditures
the Treasury followed the same detailed system of accounting and
reporting as has been followed in connection with the handling of
6 —
the annual appropriations of the various departments and establishments.
The Treasury considers it fundamental that expenditures from the
lump-sum appropriations made available to the President for recovery
and relief be accounted for separately from the funds granted by the
Congress to the departments in the annual appropriation acts.
to be noted, however, in this connection,
It is
that the Treasury Department
in it's annual reports and once each month in the Daily Treasury State
ment (published as of the 15th of the month) reports the same informa
tion with respect to expenditures from recovery and relief funds as it
does with respect to the expenditures from annual appropriations,
ordinarily referred to as general expenditures,
From the statement made by Mr. Hoover, one would be led to
believe that expenditures from the recovery funds are concealed through
the use of small print in the Budget statements..
This is not true.
The fact is that the detailed expenditures from recovery funds are
printed in the Budget statements in italics of the sane size type,
immediately following the related item payable from regular funds.
For example, on page A— 47 of the 1937 Budget in the estimated
expenditures for the year 1937, there appears an item of $1,000,000
in Roman type under the caption **Gila Project Arizona** and immediately
following this item is another item in the same size type, but in
italics for the purpose of fund identification, under the caption
**Gila Project Arizona-Emergency Expenditures (Emergency Relief Act
of 1935) $1,400,000,**
This method of presentation conveys to the public
the information that the estimated expenditure on account of the Gila
Reclamation Project in 1937 is $2,400,000, of which $1,000,000 is
- 7 payable from an annual appropriation and $1*400,000 from the
appropriation provided in the Emergency Relief Appropriation Act
of 1935*
I know of no clearer,
simpler or more straight-forward way
of presenting figures*
Not only has President Roosevelt made available in the most
convenient form detailed information concerning the expenditure
of funds under the recovery and relief appropriations in the annual
budget, but the Treasury has made such information also available in
various administrative accounting reports, which give far greater
detail than was customary in earlier practice*
In the annual state
ment of receipts and expenditures submitted to the Congress pursuant
to Sec* 15 of the Act of July 31, 1894, the Treasury has reported
detailed information concerning expenditures under both annual and
recovery appropriations in the same manner as has been employed over
a long period of years.
In addition, the Treasury has made available
as of June 30, 1936, a 509 page report showing the allotments and
expenditures made under the Emergency Relief Appropriation Act of 1935,
This statement shows not only the organizations to which the allotments
were made, but the type of work for which the allotments were made and
the States in which the work was done.
Mr, Hoover charges that the Treasury has resorted to "double
bookkeeping* and,in speaking of M s Eormula No, 1, states that one
of the easiest methods of reducing Government expenditures is "just
don't put them in before you announce the total**
There has been much loose talk about the use of a double budget
and double bookkeeping.
There is no such thing in the United States
Government as a double budget, nor is there any system of double
bookkeeping,
Probably no government in the world and no business
enterprise, no matter what its size, is more meticulous than the
United States Treasury Department in keeping and making public
accounts of the money it receives and pays out.
In order that the public may be informed as to the uses made
of the funds appropriated, the Treasury classifies its expenditures
into ,two divisions, namely, ngeneralM and ^recovery and relief*11
These classifications do not indicate double bookkeeping or in
any sense a double budget.
They were adopted by the Treasury on
July 1, 1933, so as to show the public the purpose for which the
appropriations were used.
Probably the nearest approach that this Government has ever
made to the system of double budget was under President Hoover in
1932 with the application of the policy of showing the net expen
ditures of the Reconstruction Finance Corporation over and above
the amount of capital stock as ^public debtrt transactions. Such
expenditures were not included in the analysis of receipts and
expenditures of general and special accounts either in the daily
Treasury statement or in the Annual Budget,, and the deficit of the
Hoover administration was thereby understated by this amount.
This method of treating the net expenditures of the Reconstruction
Finance Corporation was changed by the present administration on July
1, 1933, so as to include them along with other expenditures in
the Budget statement.
- 9 No effort has been made here to reply to all of Mr. Hoover's
charges.
But the facts do not support any
of his
criticisms of
Government accounting and reporting methods. On the contrary they
reveal that every change made by the present administration has
been in the direction of greater clarity and completeness in reporting
the receipts.and expenditures of public funds.
00O 00
\
treasury departs »
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. October 20. 1936.
10/19/36
Press Service
secretary of the Treasury Morgenthau announced
last evening that the tenders for #50,000,000, or thereabouts,
of 273-day Treasury bills, dated October 21, 1936, and matur
ing July 21, 1937, which were offered on October 16, were
opened at the Federal Reserve banks on October 19,
The total amount applied for was #172,935,000, of
which $50,060,000 was accepted.
The accepted bids ranged in
price from 99.909, equivalent to a rate of 0.120 percent per
annum, to 99.902, equivalent to a rate of about 0.129 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 99.906 and the average rate
is about 0.124 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, October 20. 1936.______
Press Service
No. 8-71
10-19-36.
Secretary of the Treasury M 0rgenthau announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury bills, dated October 21, 1936,
and maturing July 21, 1937, which wei*e offered on October 16, were opened at the
Federal Reserve Banks on October 19,
The total amount applied for was $172,935,000, of which $50,060,000 was
accepted.
The accepted bids ranged in price from 99.909, equivalent to a rate
of 0.120 percent per annum, to 99.902, equivalent to a rate of about 0.129
percent per annum, on a bank discount basis.
at the latter price was accepted.
Only part of the amount bid for
The average price of Treasury bills to be
issued is 99.906 and the average rate is about 0.124 percent per annum on a
bank discount basis.
ooOoo
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to
October 10, 1936, and the percentage that such imports bear to
the totals allowable under the quota provisions, as follows:
Customs Districts
'
TOTAL IMPORTS
Per Cent of Quota
: Cattle 700
:
Pounds
: Or More
:
(Head)
152,858
98.1%
FROM CANADA
Buffalo
Chicago
Dakota
Duluth 5c Superior
Maine 5c New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana 5c Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
7,094
42,823
1,540
1,328
3,133
22
592
290
20,001
Total from Canada
132,457
PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
28,527
3,647
22,590
231
77
562
—
7,522
7,080
5,742
57
20,401
i
:
:
:
Dairy Cows
700 Pounds
Or More
(Head)
4,794
24.0%
1
».
12
».
915
..
44
».
».
34
•<kt9
515
2,540
733
4,794
.»
».
—
—
——
NOTE- The quota on cattle weighing less than 175 pounds each ha®
been filled.
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
TO MR* FUSSELL,
(Room S89- Treasury Department)
FROM MR* FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures for the imports of cattle under the quota
provisions of the Canadian Trade Agreement, during the period
January 1 to October 10, 1936.
When the tabulation has been mimeographed, please have 50
copies forwarded to me at Room 415, Washington Building.
TR EA SU R Y
DEPARTM ENT
Washington
for
im m e d ia t e
r e l e a s e
Press Service
No. 8-72
,
Tuesday, October 20, 1936.
The Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement,
for the period January 1 to October 10, 1936, and the percentage that such
allowable under the quota* provisions, as follows;
imports bear to the totals i
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
Dairy Cows
Cattle 700
700 Pounds
Pounds
Or More
Or More
(Head)
(Head)
4,794
152,858
______ ___________ 98.1#_____________________ 24.0#
Mm
CANADA
Buffalo
Chicago
Dcko ts
.
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St, Lawrence
Vermont
Washington
Total from Canada
28,527
3,647
22,590
231
77
562
- —
7,094
42,823
1,540
1,328
3,133
22
592
290
20,001
132,457
PROM MEXICO
Arizona
SI Paso
San Antonio
San Diego
Total from Mexico
7,522
7,080
5,742
57
20,401
NOTE:
The quota on cattle weighing lesh'than 175 pounds
ooOoo
1
- - 12
- - 915
- - 44
~
—
—
— «
—
34
~
— —
~
— — —
515
2,540
733
4,794
~
~
~
M>.
»
— —
— ~
—
— — —
eìach iias
been filled.
TREASURY DEPARTAIENT
Washington
Press Service
No.
-73
FOR IMMEDIATE RELEASE,
Friday, October 23, 1956»
The secretary of the Treasury today announced that the Greek
Government transferred to the United States Treasury on October E l ,
1936, the sum of #108,960.
Of this amount, #10,896 represents an
additional 5$ of the semiannual interest amounting to #217,920 due
May 10, 1935; #10,896 represents an additional 5$ of the semiannual
interest amounting to #217,920 due Novenber 10, 1935, (increasing
to 40$ the payment of interest due on those dates) and #87,168
represents 40$ of the semiannual interest amounting to #217,920
due May 10, 1936, all on Uie 4$ loan of 1929.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, October 23, 1936.
Press Service
Uo* 8-73
The Secretary of the Treasury today announced that the Greek Government
transferred to the United States Treasury on October 21, 1936, the sum of
$108,960*
' Of this amount, $10,896 represents an additional 5$ of the semi
annual interest amounting to $217,920 due May 10, 1935; $10,896 represents an
additional 5$ of the semiannual interest amounting to $217,920 due November 10,
1935 (increasing to 40$ the payment of interest due on those dates) and
$87,168 represents 40$ of the semiannual interest amounting to $217,920 due
May 10, 1936, all on the 4$ loan of 1929.
— oOo—
TREASURY DEPARTMENT
W
Washington
Press Service
No. 8-74
FOR RELEASE UPON DELIVERY.
10-23— 36.
Address of the Secretary of the Treasury
to he delivered at the Business Men1s
Dinner under the auspices of the Good
Neighbor League at the Waldorf-Astoria
Hotel in New York, Friday evening,
October 23. 1 9 3 6 . ______
I am here to report to you, the stockholders of America, about the
financial management of your great corporation, the United States Government.
What I shall say looks more to the future than to the past, because I believe
it is in the future that you are particularly interested.
Since President Roosevelt took office in March, 1933, manufacturing employ
ment has risen 50 per cent; manufacturing payrolls have doubled; prices paid to
farmers have more than doubled; the market price of corporate bonds has risen
50 per cent.
The Federal Reserve Board index of industrial production is, I think, the
most comprehensive measure of business activity that we have.
in March, 1933.
It stood at 59
Today it is approximately 109.
These facts speak for themselves.
They are confirmed by the first-hand
experience of every man and woman in the range of my voice.
combined efforts of the whole Nation —
They represent the
efforts which were made effective by the
financial policies adopted and carried out by this Administration.
Just what were those policies?
First, we brought the value of our currency into a more satisfactory
relation with the currencies of other countries.
By that step we stopped a
disastrous deflation in the United States and brought about an immediate and
still growing revival in our foreign trade.
W e broke the shackles that were
dragging us down.
Thirty nations had preceded us in readjusting their curren
cies; virtually all the rest have followed us.
The soundness and stability of the American dollar are now recognized
throughout the world.
That didn*t just happen.
It is the result of monetary
policies that have been carefully formulated and executed.
In the past month a new step has been taken.
Great Britain and France have
joined with us in a common effort to maintain equilibrium in international
exchange,
W© hope that this cooperation will provide the basis for freeing
international trade from excessive restrictions.
bution to the cause of international peace.
that each must, as a first consideration,
We believe it is a real contri
The three nations agree, of course,
safeguard its own internal prosperity.
The second major element in our fiscal policies was our decision to pro
vide safety for bank depositors, protection for farms #nd homes, jobs for the •
unemployed, and relief for the needy, at a time when no other agency in this
country, public or private, was equal to the task.
We restored the buying power of our people.
As.the P resident has so aptly said, we made an investment in the future of
America.
It has rebuilt both human and material values.
It is now paying large
dividends to every man, woman, and child in the United States#
But some people aski
Could we afford this investment?
We couldn* t afford not, to make it.
Th© answer is*
The future of our country, of our democratic
form of Government, and the lives and well-being of 125 million persons were at
stake.
Others ask:
How are we going to pay for it?
paid for out of the dividends of recovery.
The fact is, it is being
This brings me to the third and
final major financial policy of this Administration —
taxation.
~ 3 It would have been popular among certain groups of our population to have
raised additional revenues by new excise and sales taxes
taxes that would
have fallen most heavily on those least able to pay*
What did we do?
First, we borrowed to meet the emergency.
Later, when
incomes were growing larger as a result of recovery, we revised the tax system
so as to make it fully adequate to meet the future revenue needs of the Federal
Government.
We did this by providing taxes based upon.the democratic principle
of ability to pay —
primarily income and estate taxes.
Through the Revenue Acts
of 1934, 1935 and 1936,we lowered the effective rates of taxation on small
individual incomes and on small corporation incomes, but we raised a n d m a d e more
fully effective the rates of income tax on those best able to.pay them.
Our revenue receipts have not yet shown the full effect of these tax changes.
The bulk of collections under the 1935 and the 1936 Revenue Acts will begin to
come in nekt year.
But our increased receipts already show the effects of
business recovery and the great improvement in our tax structure.
Total revenues of the Federal Government have increased substantially in
every year of the present Administration. In the fiscal year ended last June, our
revenues were nearly twice as large as they were in 1933; and, during the
.
present fiscal year, we count on a further increase of more than one-third.
These facts reveal how groundless are the fears,voiced for campaign
purposes, of the soundness of our fiscal position.
r 4 -
We have so improved and strengthened the Federal tax structure that
it is providing additional revenues easily sufficient to insure an early
■balancing of the budget and thereafter a rapid reduction in the public
debt.
Some persons who, to put it mildly, are not too friendly to this Adminis
tration, are loudly and frequently asserting that our policies will bring
inflation, and endanger the value of savings bank accounts, life insurance
policies, and other forms of savings,
!Phe facts I have cited, as to the continued and rapid increase of our
revenues, furnish a complete answer to these fears.
If there was anything further needed to clinch the fact that there is
no such danger, it was supplied this year by the President and the Congress,
In January the President i n his budget message told Congress that any ex
penditures added to the budget and any loss of revenues must be financed
sy taxes#
In June Congress, carrying out the President's recommendations,
provided the supplementary revenues.
It took both courage and statesmanship on the part of the President and
of the Democratic Congress to enact an important piece of revenue legislation
less than five months before a national election, but it constituted your
final assurance that the fiscal policies of this Administration are and will
continue to be sound#
Four years ago great financial structures were collapsing and values
of all kinds were disappearing#
It was then that life insurance policies
and the p e o p l e d savings and investments were in danger.
danger now#
They are not in
The man who says they are is just four years behind the times,
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
October 26, 1936,
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFEICES:
(Under Executive Proclamation of December 2L, 1933) as amended
Week ended October 23, 1936;
Philadelphia....... ........ .....<................
343, 234,12 fine ounces
San Erancisco.................. ............ .
750¿.191,08
Denver .............................. .......... .
8,797.20
"
»
Total for week ended October 23, 1.936.............
1,107,222.40
Total receipts through October 23, 1936.......... 107,732,630,02
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, IPS**)1
Week ended’-October 2 3 ; 1936?.
Philadelphia. ............... - .......
N rw YorkTT..... T.....................
ghn Pranc-i sco
.............
T)cs’
mrp>T’................................
O t*1 pane...................... .
Seattle....................... .......
Total for week ended October 23, 1936..
Total receipts through October 23, 1936
.
4 155,00 fino ounces
if
tt
542 •00
if
»
263,00
........
u.I »
M
4,958.00
ir
ii
«
it
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Imports
Week ended October 23, 1936;
$
8,765.58
Philadelphia............... ....... .
N pw Y<~>rk ............................ 7,436,400.00
San Francisco....... . . ......... * . . . 1*495*879c64
'26,599e03
Denver...............................
New Orleans......... ........ ..... .
2,321.76
Seattle....... ...... ....... ........ i ------------Total for week ended October 23, 1936..$9,028,466.01
New
Domestic
Secondary
1,328.84
$102,,433.48 $
94,500.00
153,300.00
28,334.04 1 ,535,446.99
658,289.24
•31,768.11
20,041.25
436.36
14,377.63 1,114,789. .67
$550,254.51 $3,404,791.10
i
♦
:
:
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
Cattle 700
Pounds
Or More
(Head)
153,326
98.4%
:
;
:
:
Dairy Cows
700 Pounds
Or More
(Head)
4,866
24.3%
FROM CANADA.
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana Sc Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
28,622
3,647
22,666
231
77
562
1
—
12
—
925
—
—
44
7,094
42,913
1,540
1,328
3,133
22
594
290
20,206
— -—
527
2,553
770
Total from Canada
132,925
4,866
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
7,522
7,080
5,742
57
20,401
NOTE:
—
—-
34
-—
— -
-—
——
The quota on cattle weighing less than 175 pounds each
has been filled.
hy
nivi giriiL,A£Ms j ^ i<afcA*».^w^B<»aaOTiflh»i«-&UBaan~Q£ Customs) ^
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to
October 17, 1936, and the percentage that such imports bear to
the totals allowable under the quota provisions, as follows:
O FFIC E OF THE COMMISSIONER OF CUSTOMS
October 26, 1936,
TO ME. TO SSEIX
(Room 289- Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures for the imports of cattle under the quota
provisions of the Canadian Trade Agreement, during the period
from January 1 to October 17, 1936.
When the tabulation has been mimeographed, please have S?ér
copies forwarded to me at Room 415, Washington Building.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, October 26, 1936.
Press Service
No. 8-75
The Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement,
for the period January 1 to October 17, 1936, and the percentage that such
imports bear to the totals .allowable under the quota provisions, as follows:
Customs Districts
... - --i
- ... .-_ ..
TOTAL IMPORTS
Por Cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
NOTE:
.
Cattle 700
Pounds
Or More
(Head)
153,326
98.4$
28,622
3,647
22,666
231
77
562
:
:
:
:
Dairy Cows
700 Pounds
Or More
(Head)
4,866
24.3 $
1
12
925
-------------------- ----
44
—
7,094
42,913
1,540
1,328
3,133
22
594
290
20.206
132,925
7,522
7,080
5,742
57
20,401
34
------------------------ --
527
2,553
770
4,866
— —
—
—
.
The quota on cattle weighing less than 175 pounds each has been filled.
ooOoo
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. October 27. 1936.
10/26/36
Press Service
(
°
Secretary of the Treasury Morgenthau announced last
evening that the tenders for 150,000,000, or thereabouts, of
273-day Treasury bills, dated October 28, 1936, and maturing
July 28, 1937, which were offered on October 23, were opened
at the Federal Reserve banks on October 26.
The total amount applied for was 1176,251,000, of which
150,159,000 was accepted.
The accepted bids ranged in price
from 99.916, equivalent to a rate of about 0.111 percent per
annum, to 99.907, equivalent to a rate of about 0.123 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 99.909 and the average rate
is about 0.120 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,-Tuesday« October 27, 1936.______
10—26— 36.
Press Service
No. 8-76
Secretary of the Treasury Morgenthau announced last evening that the ten
ders for $50,000,000, or thereabouts, of 273-day Treasury hills, dated October
28, 1936, and maturing July 28, 1937, which were offered on October 23, were
opened at the Federal Reserve Banks on October 26.
The.total amount applied for was $176,251,000, of which $50,159,000 was
accepted*
The accepted bids ranged in price from 99.916, equivalent to a
rate of about 0*111 percent per annum, to 99.907, equivalent to a rate of
about 0,123 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 99.909 and the average rate is about 0.120 percent per
annum on a bank discount basis*
oOOo
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS,
Saturday,-October 31* 1936,
10/30/36
Press Service
? — ‘V j
Secretary of the Treasury Morgenthau announced
last evening that the tenders for $50,000,000, or thereabouts,
of 373-day Treasury bills, dated November 4, 1936, and matur
ing August 4, 1937, which were offered on October 38, were
opened at the Federal Reserve banks on October 30.
The total amount applied for was $147,017,000,
of which 150,113,000 was accepted*
The accepted bids ranged
in price from 99.915, equivalent to a rate of about 0.112 per
cent per annum, to 99*909, equivalent to a rate of 0*120 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*913 and the average
rate is about 0.115 percent per annum on a bank discount basis.
TREASURY DEPARTMENT
Washington
Press Service
No. 8-77
FOR RELEASE, MORNING NEWSPAPERS
Saturday. Gctober 31, 1936.____
10/30/36
Secretary of the Treasury Morgenth.au announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury bills, dated November 4, 1936,
and maturing August 4, 1937, which were offered on October 28, were opened at the
Federal Reserve banks on October 30.
The total amount applied for was $147,017,000, of which $50,113,000 was
accepted.
The accepted bids ranged in price from 990915, equivalent to a rate
of about 0.112 percent per annum, to 99.909, equivalent to a rate of 0.120 per
cent 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 99.913 and the average rate is about 0.115 percent per annum on a bank dis
count basis«
— oOo—
TREASURY DEPARTMENT
Washington
MEMORANDUM ..FOR THE PRESS:
November 2, 1936.
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES.»
(Under Executive Proclamation of December 21, 1933) as amended
Week ended October 30, 1936:
Philadelphia.... .....................
San Francisco........................
Denver...„..... -. ....... ..............
Total for week ended.October 30, 1936..
Total receipts through October 30, 1936
521,340.59 fine ounces
u / .M
644,632.70
H
I!
5.137.41
tf
r*
1,171,110.70
If
t>
108,903,740^72
SILVER. TRANSFERRED TO UNITED STATES;
(Under Executive Proclamation of August 9, 1934)
Week ended October 30, 1936.:
Philadelphia .............................
New York .. .. ................................
San Francisco................................... .
Denver ............. ............
New Orleans ..................... .............. * ’
Seattle........................
Total for week ended October 30, 1936.............
Total receipts through October 30, 1936'........ ...
94.00 fine ounces
1,797.00
»
"
171.00
"
»
2,062.00
112,988,180.27
"
»
«
n
RECEIPTS OF G-QLD BY THE MINTS AND ASSAY OFFICE'S:
New
Week ended October 30, 1936:
- Imports
Secondary_____ Domestic
Philadelphia................... ..... $
7,378.11$ 86,824.01 $ ----------New York ..................
..... 1 8 j454,600.00 117,700.00
40 500.00
San Francisco ...........
91,439.72
16,325.32 1,104|454*.83
Denver........ .................
36,836.71
16,539.27
660,487.09
New Orleans...................
--- 6,732.20 18,379.10
------- -Seattle........................
• •• ••
7.379.64
771.208.70
Total for week ended October 30, 1936..$18,596,986.74$263,147.34 $2,576,650.62
ooOoo
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
November 3, 1936.
TO MR. FUSSELL
(Room 289 - Treasury Department)
FROM MR. FREEMÄN:
There is attached a tabulation for immediate release showing
preliminary figures for the imports of cattle under the quota
provisions of the Canadian Trade Agreement, during the pèriod
from January 1 to October 24, 1936.
When the tabulation has been mimeographed, please have 55
copies forwarded to me at Room 415, Washington Building.
The Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to
October 24, 1936, and the percentage that such imports bear to
the totals allowable under the quota provisions, as follows:
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St* Lawrence
Vermont
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
NOTE:
:
•
;
Cattle 700
Pounds
Or More
(Head)
154,046
98*9$
28,622
3,647
22,752
231
77
562
7,094
43,018
1,540
1,328
3,133
22
594
290
20,593
:
:
:
.
Dairy Cows
700 Pounds
Or More
(Head)
5,022
25*1$
1
•
12
948
- :
44
34
576
2,578
829
133,503
5,022
7,522
7,080
5,884
57
—
20,543
The quota on cattle weighing less than 175 pounds
each has been filled*
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Tuesday, November 3, 1936.
Press Service
No. 8-78
The Commissioner of Customs today announced preliminary figures for
the imports of cattle under the quota provisions of the Canadian Trade
Agreement, for the period January 1 to October 24, 1936, and the percentage
that such imports bear to the totals allowable under the quota provisions,
as foll'ows:-
Customs Districts
:
:
:
:
Cattle 700
Pounds
Or More
(Head)
TOTAL IMPORTS
Per Cent of Quota
154,046
98.9$
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Ma s sachu se 11 s
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total From Canada
28,622
3,647
22,752
231
77
562
—
7,094
43,018
1,540
1,328
3,133
22
594
290
20,593
133,503
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
NOTE:
:
:
:
:
Dairy Cows
700 Pounds
Or More
(Head)
5,022
25.1 $
1
—
12
-
948
—
44
—
—
34
_
-
576
2,578
829
5,022
7,522
7,080
5,884
57
—
—
—
—
20,543
-
The quota on cattle weighing less than 175 pounds
each has been filled.
SEPTEMBER 1936
tSeptember: August : September : 9 Months (Jan* - Sept*)
■ me
> 1?3< ■- 1 3 3 5 ■ . W3i
>
1935
DISTILLED LIQUORS (Prtiff Gallons):
Stock in Customs Bonded Ware
3,398,234 3*757#919
houses at beginning
1,027,487 1,022,045
Total Imports (Free and Dutiable)
Available for Consumption
4,425,721 4,779*964
1 , 00 0 ,261
1,351,041
Entered into Consumption (a)
Exported from CustomjjCLuotody ——----- •----~ 5r480~~•**~*3^^9*
Stock in Customs Bonded Warehouses
3 , 4 15 ,9 8 0
3 , 39 8 ,234
at end
STILL WINES (Liquid Gallons):
Stock in Customs Bonded Warehouses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Stock in Customs Bonded Warehouses
at end
SPARKLING WINES (Liquid Gallons):
Stock in Customs Bonded Ware
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Export-ad -g-g-om Cuetoms Cuat ady—
Stook in Customs Bonded Warehouses
at end
________ ________
DUTIES COLLECTED CHI:
D istilled Liquors
S t i l l Wines
Sparkling Wines
Total Duties Collected on Liquors
3,501,472
560,777
4,062,249
6 4 7,879
4,222,560
8,657*909
12,880,469
9*373*518
4,282,960
4,191*592
8,474,552
4, 815,379
,„£5 7 *416
3,401,757
3,415*980
3 *4 0 1 , 7 5 7
1 *607*096
1*531*065 1 , 5 5 9 ,0 0 0 1,539*435
1
, 6 0 8 ,0 0 1
1
0
9
,
6
8
9
184,769
136,279
1,649,124
1*715*834 1*695*279
3,215,097
164,556
164,214
1 *6 9 6 ,9 0 9
2 18 ,3 11
-—-----1.294_, ——
1 , 76 6 ,5 8 8
—
1*497*275
1,483,274
2 7 5 ,5 7 1
232,72 4
6,927
325,712
86,722
28 2,4 9 8
158 ,0 79
39 0 ,8 0 3
19 ,8 6 6
18 8 ,29 4
1,497*275
1,531,065
1,483,274
194,914
201,43£
3 8 ,13 8
16,581
218,017
23,059
233,052
37,892
•- W —
--------4 4 .
195,160
114 ,0 30
$2 , 7 6 4 , 3 4 7
262,445
194,914
$2,451,251 $3,270,071
1 9 9 , 086
14 3 ,3 5 5
6 8 ,6 13
$3 , 4 8 2 , 0 3 9
1,270,804
3 , 0 37,392
1 *5 2 6 ,1 3 6
27,982
~loi!L
4 12 ,4 34
137,939
12 ,0 5 0
MNnRWWNMM^''
262,44j_
l95,lgQ„
$3,082,180 $2 3 , 5 5 5 , 0 2 0
20 4 ,7 2 6
1 , 8 28 ,350
1 1 6 , 6 1 0 _____ 7 6 5 , 8 7 6
$3 , 4 0 3 , 5 1 6
$2 6 , 1 4 9 , 2 4 6
$23,112,639
1,896,031
811,026
$25,819,696
To^
fmnmediiii »g
Percent ColLfleted-
... 1,1
-Li«*
(a) Including withdrawals for ship supplies and diplomatic use,
L
8,896
—
“ ~ * A"
Treasury Department
Washington
o
f
/
For Release ftimliy morning newspapers
Sunday, November 8, 1936
Imports of distilled liquors and wines,and duties collected thereon,
covering the month of September ,1936, have been reported by the Commissioner of
Customs as shown in the following statements
V
fSEASURY DEPARTMENT
Washington
W RELEASE, MORNING NEWSPAPERS,
Sunday«■ November 8, 1336»_______
Press Service
No# 8— 79
11- 6- 3 6 .
Imports of distilled liquors and wines, and duties collected thereon, covering
the month of September, 1936, have been reported by the Commissioner of- Customs as
shown in the following statement:
September
1936
August
1936
September
1935
9 Months (J an. - Sept.)
1936
1935
DISTILLED LIQUORS:(Proof Gallons):Stock in Customs
Bonded Warehouses
4,222,560
at beginning...., 3,398,234 3,757,919 3,501,472
4,282,960
Total Imports (Eree
560,777
8,657,909
4,191,592
and dutiable..... 1,027,487 1,022,045
Available for Con
8,474,552
sumption,4,425,721 4,779,964 4,062,249 12,880*469
Entered into Con
647,879
9,373,518
4,815,379
sumption (a). .,.. 1,000,261 1,351,041
Stock in Customs
Bonded W arehouses
3,401,757
at end........ ..
3,415,980
3,415,980 3,398,234 3,401,757
STILL WINES:
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
at beginning.... 1,531,065 1,559,000 1,539,435
1,607,096
1,766,588
Total Imports (Free
1,270,804
and dutiable)....
184,769
109,689
1,608,001
136,279
Available for Con
sumption. ...... .
3,215,097
3,037,392
1,715,834 1,695,279 1,649,124
Entered into Con—
164,214
1,526,136
sumption (a).....
218,311
164,556
1,696,909
Stock in Customs
Bonded ¥ arehouses
1,483,274
at end......... . 1,497,275 1,531,065 1,483,274
1,497,275
SPARKLING WINES:
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
232,724
325,712
at beginning....
194,914
275,571
201,436
Total Imports (Free
86,722
6,927
158,079
and dutiable)....
16,581
38,138
Available for Con
412,434
sumption. ...... ..
390,803
218,017
282,498
233,052
Entered into Con
188,294
137,939
sumption (a)....
23,059
19,866
37,892
Stock in Customs
Bonded Warehouses
at end........
262.445
■ 194,914
195.160
262.445
195.160
DUTIES COLLECTED ON:'
Distilled Liquors \
$2,451,231 $3,270,071 $3,082,180 $23,555,020 $23,112,639
Still Wines
1,896,031
1,828,350
204,726
199,086
143,355
811.026
Sparkling Wines
765.876
68,613
116.610
114,030
Total duties collec
ted on Liquors
$2,764,347 $3,482,039 $3,403,516 $26,149,246 $25,819,696
(&) Including withdrawals for shin supplies and diplomatic use.
TREASURY DEPARTMENT
Washington
FOR RELEASE» MORNING NEWSPAPERS,
Saturday. November 7. 1936,--11/6/36
Press Service
O , p ..
®
Acting Secretary of the Treasury Taylor announced
last evening that the tenders for $50,000,000, or thereabouts,
of 374-day Treasury bills, dated November 10, 1936, and matur
ing August 11, 1937, which were offered on November 4, were
opened at the Federal Reserve banks on November 6.
The total amount applied for was $137,136,000, of
whioh $50,145,000 was accepted.
The accepted bids ranged in
price from 99.926, equivalent to a rate of about 0.097 percent
per annua, to 99.918, equivalent to a rate of about 0.108 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 99.919 and the average
rate is about 0.106 percent per annum on a bank discount basis
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
gnturday. November 7. 1936______
11-6-36.
Press Service
No* 8-SO
Acting Secretary of the Treasury Taylor announced last evening that the
tenders for $50,000,000, or thereabouts, of 274-day Treasury hills, dated
November 10,. 1936, and maturing August 11 r 1937, which were offered on November
4, were opened at the Federal Reserve banks on November 6*
The total amount applied for was $137,136,000, of which $50,145,000 was
accepted* The accepted bids ranged in price from 99.926, equivalent to a rate
of about 0.097 percent per annum, to 99.918, equivalent to a rate of about 0.108
percent per annum, on a bank discount basis.
at the latter price was accepted.
Only part of the amount bid for
The average price of Treasury bills to be
issued is 99,919 and the average rate is about 0*106 percent per annum on a
bank discount basis.
JDOOOO
thkasury d k p a h m b n t
WaMUagton
;
FOB I U D i m BBLBASK
Saturday, Bovsmbar 7« 1,986
' '
^ • -/’y )
•
1V
Service
* “•
The Secretary of the Treasury today announced
that the Greek Government transferred to the United States
Treasury cm November 6, 1936, the sum of #B7,168 representing
40% of the semiannual Interest amounting to #217,980 due
November 10, 1936, on the 6% loan of 1989 made to that
Government by the United States«
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Saturday» November 7» 1956
Press Service
No* ^
The Secretary of the Treasury today announced
that the Greek Government transferred to the United States
Treasury on November 6t 1936, the sum of $87,168 representing
40$ of the semiannual interest amounting to $217,920 due
November 10, 1936, on the 4$ loan of 1929 made to that
Government by the United States*
TREASURY DEPARTMENT
Tíashingt on
FOR IMMEDIATE RELEASE
Saturday, November 7, 1956.
Press Service
No,. 8-81
The Secretary of the Treasury today announced that the
Greek Government transferred to the United States Treasury on
November 6, 1936, the sum of :)87,168 representing
43%
of the
semi-annual interest amounting to 0217,920 due November 10, 1936,
on the
States
lorn of 1929 mace to' mb at Government by the United
TREASURY DEPARTMENT
Washington
MEMORANDUM EOR THE PRESS:
November 9, 1936.
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1 9 3 3 ) as amended
Week ended November 6, 1936:
Philadelphia.... .............................
$dn Eranci sco.................. ............. ..
Denver ......................... ............
Total for w e e k ended November 6, 1936...... . . ....
Total receipts through November 6, 1936...........
.
1,287,646.84 fine ounces!
694,542.84
»
______22.550.78
" $
2,004,740.46 »
«
110,908,481.18 »
I
SILVER TRANSEERREP TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 6, 1936:
Philadelphia............................. .. ., .
New York. ........ ..................... ...... . .
San Erancisco.................................
Denver.... ....... . ....... ................
New Orleans.............. ..................
127
96
fine ounces!
n N
Seattle................... .........................
Total for week ended November 6, 1936........... .
Total receipts through November 6, 1936...........
223
112,988,403.27
» ,f
» i
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OEEICES:
NeW
Week ended November 6, 1936:
I m p o r t s ___ Secondary
Philadelphia .......... . ... .... $
4,452.53 $158,745.49
New York...............
---- 18,045,200.00 101,800.00
San Eranci sco........ ....... ....
759,286.24
40,988,41
Denver.................
----57,331.01
16,332.97
New Orleans........ ........ ---- ------------22,834.25
Seattle ......... ,..... ... *.....
7.994.17
Total for week ended November 6, 1936..$18,866,269.78 $348,695.29
Domestic
$
1,668,80
295,200.00
1,321,722.27
.499,336.82
--------753.396.69
$2,871,324.58
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
November 10, 1936.
Y
MR. FUSSELL
(Room 289 - Treasury Department)
FROM MR. FREEMAN:
There are attached two tabulations for immediate release
showing preliminary figures for imports of commodities under the
quota provisions of the Canadian Trade Agreement, during the
period from January 1 to October 31, 1936.
When the release has been mimeographed, please have 55
copies forwarded to me at Room 415, Washington Building.
$
*•
Sawed Timber and Lumber Not Specially Provided For
'«—
Customs Districts
J
TOTAL IMPORTS
Douglas *
Fir
(Bd. Ft.)
: Mixed Fir * Total Fir
Western
* & Hemlock [ & Hemlock
Hemlock
(Bd. Ft.) | (Bd. Ft.) ; (Bd. Ft.)
75,279,260
29,334,770
299,251
967,271
8,918,798
6,095,308
178,330
11,513,212
50,386
12,676,508
91,484
14,172,118
11,010,176
580,394
19,697
274,995
656
483,334
7,947,342
103,735
1,964,373
2,701,587
942,265
34,553,811
139,167,841
55.7$
-
402,986
2,931,644
11,620,385
7,037,573
178,330
11,608,276
55,458
29,145,000
116,032
50,847,732
14,318,180
1,887,271
20,021
274,995
656
572,559
8,150,743
Per Cent of Quota
FROM CANADA
Buffalo
Connecticut
Dakota
Duluth & Superior
Indiana
Los Angeles
Maine & N. H.
Massachusetts
Michigan
New York
Philadelphia
Rhode Island
St. Lawrence
San Diego
San Francisco
Vermont
Washington
-
95,064
5,072
16,468,492
24,548
2,121,803
3,308,004
1,306,877
324
89,225
203,401
Mi.. !■■! I I
'>
$
**
1
1
-
34,553,811
-
-
-
• a
TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Wednesday, November 11, 1936
Press Service
No. 8-82
The Commissioner of Customs today announced preliminary figures for imports I
of commodities under the quota provisions of the Canadian Trade Agreement, for thJ
period January 1 to October 31, 1936, and the percentage that such imports bear
to the totads allowable under the quota provisions, as follows:
IMPORTS OF DOUGLAS FIR AND WESTERN HEMLOCK UNDER THE QUOTA
PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Customs Districts
Sawed Timber and Lumber not Specially Provided For
Mixed Fir
Douglas
: Western
Total Fi|
Fir
: Hemlock
& Hemlock
& Hemlocll
(Bd. Ft.)
:
(Bd. Ft.)
(Bd. Ft.)
(Bd.Ft.)l
TOTAL IMPORTS
Per Cent of Quota
75,275,260
29,334,770
299,251
967,271
8 ,918,798
6 ,095,308
178,330
11 ,513,212
50,386
12 ,676,508
91,484
14 ,172,118
11 ,010,176
580,394
19,697
274,995
656
483,334
7 947,342
103,735
1,964,373
2,701,587
942,265
FROM CANADA
Buffalo
Connecticut
Dakota
Duluth & Superior
Indiana
Los Angeles
Maine & N.H.
Massachusetts
Michigan
New York
Philadelphia
Rhode Island
St. Lawrence
Sail Diego
San Francisco
V ermont
Washington
—
95,064
5,072
16,468,492
24,548
2,121,803
3,308,004
1,306,877
324
89,225
203,401
34,553,811
«
—
—
~
—
«
—
—
—
~
—
—
—
~
-
—
—
—
—
—
—
34, 553, 811
—
_
—
_
—
_
-»
—
—
—
—
139,167,3m
55.7^1
402,S3
2,931,61
11,620,3a
7,037,51
178,33
11,608,21
55,43
29,145, o]
116,03
50,847,73
14,318,19
1,887,21
20,03
274,9Ì
63
572,5Ì
8,150,7i
-2-
IMPORTATIONS OP CATTLE, 8REAM AND SEED POTATOES
UNDER QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Customs Districts
Cattle 700
Pounds or
More
(Head)
Dairy Cows
700 Pounds
Or More
(Head)
Cream
(Sal.)
White or
Irish Seed.
Potatoes
(Pounds)
TOTAL IMPORTS
Per Cent of Quota
154,551
99.2$
5,283
26.4$
24,517
1.6$
26,735,729 (
59.4$
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Maine & N.H.
.Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
- - - 28,672
3,547
22,804
261
_ — — —
77
562
— — —
7,093
43,167
1,541
1,328
3,133
22
594
289
— — « —
20,724
133,914
- « 1
- - 12
- - ~
~
956
- - 44
1
- - 35
12
— — —
—
101
— — —
m -26
— — —
---13
—
7,587
7,109
5,884
57
20,637
- - —
— — —
~ - -
FROM MEXICO
Arizong,
El Paso
San Antonio
San pi ago
Total from Mexico
NOTES
(a)
- - - - 684
2,646
- - 904
5,283
-- -
1
-- ~ **
— —
24,364
~ -- ~ 24,517
—
—
—
—
—
—
~
—
—
—
+*
r- {¡¡§••
52,500
92,650
180 I
2,285,111 1
2,593,920
1,780,374
186,510
18,413,529
580
1,244,375
86,000
26,735,729 1
**
—
—
—
—
*"*
—
— -* — *■ -* .
The quota on cattle weighing less than 175 pounds each has been filled. J
Includes 1, 534,697 pounds of seed potatoes imported during December, 193q
at regular rate of duty.
ooOoo
,P
jl
rs
PORTATIONS vOF CATTLE 1_flggAM-ANff^Ss D POTATQE^
iR QUOTA PROVISIOJjgU^TE3E^ANADIiS^ffiIBF"AGHmEUT^:
J^urjj^’tdae Period January 1 to OctoberJg8ef**f$S6
Customs Districts
TOTAL IMPORTS
- Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Florida
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
: Cattle 700
: Pounds or
:
More
: (Head)
'• 154,551
99.2$
i
:
:
:
Dairy Cows
700 Pounds
Or More
(Head)
- ’5,283
26.4$
-
28,672
3,647
22,804
261
-
77
562
7,093
43,167
1,541
1,328
3,133
22
594
289
•
:
:
; White or
: Irish Seed
Cream
: Potatoes
(Gal.) : (Pounds)
24,517
1.6$
12
1
-
12
—
101
-
956
-
44
1
-
26
26,735,729 (a)
59.4$
m
m
52,500
«•
92,650
180
2,285,111
2,593,920
»
■»
-
1,780,374
186,510
13
_
—
35
1
18,413,529
-
-
-
-
-
-
-
-
20,724
684
2,646
904
133,914
5,283
-
if
-
24,364
580
-
-
1,244,375
86,000
24,517
26,735,729
-
rj
■ci
S
TREASURY DEPARTMENT /Ci
V
T
'Washington
*&
FOR IMMEDIATE RELEASE,
Tuesday, November 10, 1936*
Press Service
No, 8-^fT
The Commissioner of Customs today announced preliminary
figures for imports of commodities under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to October
31, 1936, and the percentage that such imports bear to the totals
allowable under the quota provisions, as follows:
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
7,587
7,109
5,884
57
20,637
NOTE - The quota on cattle weighing less than 175 pounds each has been filled,
(a) - Includes 1,534,697 pounds of seed potatoes imported during December,
1935, at regular rate of duty.
- 6 -
The First National Bank of Defiance, Ohio, in receivership April 11, 1932, the
liabilities of the institution having theretofore been assumed by another bank.
Thi
receiver was appointed for the purpose of collecting an assessment against the stockj
holders to cover a deficiency in the assets sold.
Disbursements during receivershiB
including offsets allowed, aggregated $65,365* which represented 61.78 per cent of
total liabilities*
The First National Bank of Napoleon, Ohio, in receivership April 11, 1934., the
liabilities of the institution having theretofore been assumed by another bank.
Th<
receiver was appointed for the purpose of collecting an assessment against the stoci
holders to cover a deficiency in the assets sold.
Disbursements during receivership
including offsets allowed, aggregated $29,94-2, which represented 4.2.82 per cent of
total liabilities.
The First National Bank of Florala, Alabama, in receivership January 13, 1930;
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $34-8,222, which represented 81.11 per cent of total liabilities.
Unsecured
depositors received dividends amounting to 66.97 per eent of their claims.
Dividend payments during October, 1936, by all receivers of insolvent national
banks to the creditors of all active receiverships aggregated $9,54.8,700.
Dividend payments to the creditors of all active receiverships since the bank
ing holiday of March, 1933, aggregated $74-9,04.7,053.
-5 -
The First National Bank of Bxockton, Iowa, in receivership October 22, 1931*
disbursements, including offsets allowed, to depositors and other creditors aggre- I
gated $59,579, which represented 45.06 per cent of total liabilities.
Unsecured de*
positors received dividends amounting to 34.61 per cent of their claims*
The Merchants National Bank of Defiance, Ohio, in receivership April 11, 1932 I
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 I
stockholders to cover a deficiency in the assets sold.
Disbursements during receiv-1
ership, including offsets allowed, aggregated $51,101, which represented 45.63 per 1
cent of total liabilities.
The Prairie Depot National Bank of Freeport, Ohio, in receivership September 5|
1933, the liabilities of the institution having theretofore been assumed by another!
bank.
The receiver was appointed for the purpose of collecting an assessment again|
the stockholders to cover a deficiency in the assets sold.
Disbursements during re
ceivership, including offsets allowed, aggregated $22,307, which represented 76.67 I
per cent of total liabilities.
The First National Bank of Sevierville, Tennessee, in receivership August 13 > j
1932} disbursements, including offsets allowed,to depositors and other creditors ag-J
gregated $237,679, which represented 70,80 per cent of total liabilities.
Unsecured!
depositors received dividends amounting to 61,53 per cent of their claims.
The First National Bank of Hazard, Kentucky, in receivership March 18, 1930,
the liabilities of the institution having theretofore been assumed by another bank. I
The receiver was appointed for the purpose of collecting an assessment against the I
stockholders to cover a deficiency in the assets sold.
Disbursements during receiv-j
ership, including offsets allowed, aggregated $63,139, which represented 56,97 per
cent of total liabilities.
A
-
-
The First National Bank of Huron, South Dakota, in receivership March L4,
1924
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $1 ,124.,657, which represented 54-75 per cent of total liabilities*
depositors received dividends amounting to
24- 731
Unsecured
per cent of their claims*
The First National Bank of Ephrata, Washington, in receivership December 2, 19j
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $95,856, which represented 79*07 per cent of total liabilities.
Unsecured de
positors received dividends amounting to 4-5*74 per cent of their claims*
The First National Bank of Westfield, Illinois, in receivership November 28, l|
disbursements, including offsets allowed, to depositors and other creditors aggregai
$209,121, which represented 82.16 per cent of total liabilities.
received dividends amounting to
81*26
Unsecured deposit!
per cent of their claims*
The Citizens National Bank of Kendallville, Indiana, in receivership March 16,
1932;
depositors and other creditors were paid
100
per cent principal and a portiod
of the interest, amounting to an additional dividend of
.86
per cent.
Total paymenj
to creditors, including offsets allowed, aggregated $ 504-,201.
The First National Bank of Zillah, Washington, in receivership December 2, 19^
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $117,4.88, which represented 50.62 per cent of total liabilities.
positors received dividends amounting to
23
Unsecured de
per cent of their claims.
The First National Bank of Alexis, Illinois, in receivership March 15, 1932,
liabilities of the institution having theretofore been assumed by another bank.
Tto|
receiver was appointed for the purpose of collecting an assessment against the stoc
holders to cover a deficiency in the assets sold.
Disbursements during receivers)^
including offsets allowed, aggregated $61,585, which represented 100.84- per cent
total liabilities.
0
- 3 -
1930; disbursements, including offsets allowed, to depositors and other creditors
aggregated $515,147, which represented 58.59 per cent of total liabilities.
Unse- I
cured depositors received dividends amounting to 21.02 per cent of their claims.
The First National Bank of Tranquillity, California, in receivership February I
27, 1930; disbursements, including offsets allowed, to depositors and other creditors aggregated $309,307, which represented 98.09 per cent of total liabilities,
u*
secured depositors received dividends amounting to 93 per cent of their claims.
The First National Bank of Allen, Oklahoma, in receivership November 14-, 1932;|
disbursements, including offsets allowed, to depositors and other creditors aggre- I
gated $78,74-1* which represented 72 per cent of total liabilities.
Unsecured deposij
tors received dividends amounting to 60.82 per cent of their claims.
The First National Bank of Tyler, Minnesota, in receivership December 23, 19301
disbursements, including offsets allowed, to depositors and other creditors aggregate
$4-27,956, which represented 78.58 per cent of total liabilities.
Unsecured deposi-|
tors received dividends amounting to 66.67 per cent of their claims.
The Peoples National Bank of Blairstown, New Jersey, in receivership October 2f
1931; depositors and other creditors were paid 100 per cent principal and a portion!
of the interest, amounting to an additional dividend of 1.52 per cent.
Total paymei
to creditors, including offsets allowed, aggregated $4-04-,279.
The First National Bank of Waldron, Arkansas, in receivership April 22, 1931? I
disbursements, including offsets allowed, to depositors and other creditors aggre- I
gated $161,054-, which represented 78.77 per cent of total liabilities.
Unsecured dj
positors received dividends amounting to 71.8 per cent of their claims.
The First National Bank of Eldora, Iowa, in receivership August 10, 1932; dis-1
bursements, including offsets allowed, to depositors and other creditors aggregated!
$359,516, which represented 85.24- per cent of total liabilities.
received dividends amounting to 81.8 per cent of their claims.
Unsecured deposit!
-
2
-
offsets allowed, aggregated $19 ,622, and the stockholders received nothing.
The Wilcox National Bank of Wilcox, Pennsylvania, in receivership October 27
1931; disbursements, including offsets allowed, to depositors and other creditors
aggregated $227,521, which represented 93.29 per cent of total liabilities.
cured depositors received dividends amounting to
93
Unse
per cent of their claims.
The National Bank of Sidney, Iowa, in receivership October 15, 1931; disburse-]
ments, including offsets allowed, to depositors and other creditors aggregated
$185,976, which represented 79.69 per cent of total liabilities.
tors received dividends amounting to
7 3
Unsecured deposit
per cent of their claims.
The First National Bank of Mora, Minnesota, in receivership September 14-, 193l|j
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $261,412, which represented 74*40 per cent of total liabilities.
depositors received dividends amounting to
64.3
Unsecured
per cent of their claims.
The First National Bank of Florence, Arizona, in receivership December 5* 1933j|
disbursements, including offsets allowed, to depositors and other creditors aggre
gated $387,890, which represented 97.33 per cent of total liabilities.
depositors received dividends amounting to
90.52
Unsecured
per cent of their claims.
The Commercial National Bank of Essex, Iowa, in receivership May
5,
1931$ dis-]
bursements, including offsets allowed, to depositors and other creditors aggregated
$188,866, which represented 95.33 per cent of total liabilities.
tors received dividends amounting to
94.12
Unsecured deposi-|
per cent of their claims.
The Citizens National Bank of Glenwood Springs, Colorado, in receivership DeceÇ
ber 29, 1932$ disbursements, including offsets allowed, to depositors and other ere
tors aggregated $400,569* which represented 78.33 per cent of total liabilities,
secured depositors received dividends amounting to
65.11
ÏÏ
per cent of their claims.
The First National iank in Mt. Sterling, Illinois, in receivership January 7*
TREASURY DEPARTMENT
Washington
Press Service
FOR RELEASE. MORNING NEWSPAPERS, '
tion of the liquidation of 30 receiverships during October, 1936, making a total
of 5L4 receiverships finally closed or restored to solvency since the so-called
banking holiday of March, 1933.
Total disbursements, including offsets allowed,
to depositors and other creditors of these 514 institutions, exclusive of the 42
receiverships restored to solvency, aggregated $149,595,068, or an average return
of 76.29 per cent of total liabilities, while unsecured depositors received divi
dends amounting to an average of 61.93 p©r cent of their claims.
The First National Bank of Atwood, Illinois, in receivership December 5, 1933}
depositors and other creditors were paid 100 per cent principal with interest in
full amounting to an additional dividend of 8.521 per cent.
Total payments to
creditors, including offsets allowed, aggregated $148,229, and the stockholders re
ceived $1,700, together with the assets remaining uncollected.
The First National Bank of Bellevue, Iowa, in receivership June 25, 19345 de"
positors and other creditors were paid 100 per cent principal with interest in full
amounting to an additional dividend of 10.21 per cent.
Total payments to creditors,
including offsets allowed, aggregated $579,083, and the stockholders received $4,895
together with the assets remaining uncollected.
The Allenwood National Bank of Allenwood, Pennsylvania, in receivership Decem
ber 22, 1932, the liabilities of the institution having theretofore been assumed
by another bank.
The receiver was appointed for the purpose of collecting an assess
ment against the stockholders to cover a deficiency in the assets sold.
The credits
bank, from dividends and other sources, received 100 per cent together with interes
in full amounting to 8.018 per cent.
Disbursements during receivership, including
V>
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OH RESTORED TO SOLVENCY DURING- THE MONTH OF
________
OCTOBER 1936
Continued:
Date of
Failure :
Total
Disbursemen ts
Including
Offsets Allowed:
Per Cent
Total
Returns
to All
Creditors:
First N ational Bank, Zillah, Washington
First National Bank, Alexis, Illinois
1/
First National Bank, Blockton, Iowa
Merchants National Bank, Defiance, Ohio *
Prairie Depot National Bank, Freeport, Ohio 1 /
12-2-31
3-15-32
10-22-51
4-01*32
9—5—33
$> 117,488*00
61,585*00
59,579*00
51,101*00
22,307.00
50.62
100.84
45*06
45.63
76.67
First
First
First
First
First
8-13-32
3-18-00
4-11-32
4-11-34
1-13-30
257,679.00
63,139.00
65,365.00
29,942.00
348,222.00
70.80
56.97
61.78
42.82
81*11
National
National
National
National
National
*
Bank, Sevierville, Tennessee
Bank of Hazard, Kentucky ■ 1 /
Bank, Defiance, Ohio
lif
f
Bank, Napoleon, Ohio
Bank, Florala, Alabama
Per Cent
Dividends
Paid
Unsecured
Claimants:
23
59.12277
34*61
9.945
42.631
61.53
32.15
20.93
24.217
66.97
F o m e r l y in Conservatorship*
1/ Receiver appointed to levy and collect stock assessment covering deficiency in value of assets
sold, or to complete unfinished liquidation*
INSOLVENT NATIONAL :SANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
OCTOBER 1956______________________
Date of
Failure:
105.85
107.04
108.00
95.29
79.69
9-14-51
12-5-55
5-5-51
12-29-52
1-7-50
261,412.00
587,890.00
188,866.00
400,569.00
515,147.00
74.40
97.55
95.55
78.55
58.59
64.5
90.52
94.12
65.11
21.02
2-27-50
11-14-52
12-25-50
10-29-51
4-22-51
509,507.00
78,741.00
427,956.00
404,279.00
161,054.00
98.09
72.0
78.58
101.18
78.77
95.
60.82
66.67
101.52
71.8
8-10-52
5-14-24
12-2-52
11-28-50
5-16t 52
559,516.00
1,124,657.00
95,856.00
209,121.00
504,201.00
85.24
54.75
79.07
82.16
100.67
81.8
24.751
45.74
81.26
100.86
12-5-55
6-25-54
12-22-52
10-27-51
10-15-51
First National Bank, Mora, Minn.
First National Bank, Florence, Ariz. *
Commercial National Bank, Essex, la.
Citizens National Bank, Glenwood Springs,Colo.
First Nat’l Bank in Mt. Sterling, 111.
First Nat‘1 Bank, Tranquility, Calif.
First National Bank, Allen, Okla.
First National Bank, Tyler, Minn.
Peoples Natfl Bank, Blairstown, N. J.
First National Bank, Waldron, Ark.
Bank,
Bank,
Bank,
Bank,
Bank,
Eldora, Iowa
Huron, S. D.
Ephrata, Wash.
Westfield, 111.
Kendallville, Ind.
Per Cent
Dividends
Paid
Unsecured
Claimants;
148,229.00
579,085.00
19,622.00
227,521.00
185,976.00
First National Bank, Atwood, 111* *
First National Bank, Bellevue, la* *
Allenwood Nat’l Bank, Allenwood, Pa. 1/
Wilcox National Bank, Wilcox, Pa*
National Bank of Sidney, Iowa
First National
First National
First National
First National
Citizens Nat*l
Total
Disbursements
Including
Offsets Allowed:
Per Cent
Total
Returns
to All
Creditors:
#
108.521
110.21
108.018
95.
75.8
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Monday. November 16. 1936______
11/12/36.
Press Service
8-83
J. F. T. O ’Connor, Comptroller of the Currency, today announced
the completion of the liquidation of 30 receiverships during October,1936,
making a total of 514 receiverships finally closed or restored to solvency
since the so-called hanking h o liday’of March, 1933.
Total disbursements,
including offsets allowed, to depositors and other creditors of these 514
institutions, exclusive of the 42 receiverships restored to solvency, ag
gregated $149,595,068, or an average return of 76.29 per cent of total
liabilities, while unsecured depositors received dividends amounting to
an average of 61,93 per cent of their claims.
The First National Bank of Atwood, Illinois, in receivership
December 5, 1933; depositors and other creditors were paid 100 per cent
principal with interest in full amounting to an additional dividend of
8.521 per cent.
Total payments to creditors, including offsets allowed,
aggregated $148,229, and the stockholders received $1,700, together with
the assets remaining uncollected.
The First National Bank of Bellevue, Iowa, in receivership June
25, 1934;
depositors and other creditors were paid 100 per cent principal
with interest in full amounting to an additional dividend of 10.21 per cent
Total payments to creditors, including offsets allowed, aggregated $579,083
and the stockholders received $4,895, together with the assets remaining
uncollected.
2
The Allenwood National Bank of Allenv/ood, Pennsylvania, in receiver
ship December 22, 1932, 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.
The creditor bank, from dividends and other
sources, received 100 per cent together with interest in full amounting to
8.018 per cent.
Disbursements during receivership, including offsets allowed,
aggregated $19,622, and the stockholders received nothing.
The Wilcox National Bank of Wilcox, Pennsylvania, in receivership
October 27, 1931;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $227,521, which represented 93.29 per cent
of total liabilities.
Unsecured depositors received dividends amounting to
S3 per cent of their claims.
The National Bank of Sidney, Iowa, in receivership October 15, 1931;
disbursements, including offsets allowed, to depositors and other creditors
aggregated $185,976, which represented 79.69 per cent of total liabilities.
Unsecured depositors received dividends amounting to 73.8 per cent of their
claims.
The First National B ank of M 0ra, Minnesota, in receivership September
14, 1931;
disbursements, including offsets allowed, to depositors and other
creditors aggregated $261,412, which represented 74,40 per cent of total
liabilities.
Unsecured depositors received dividends amounting to 64.3 per
cent of their claims.
The First National Bank of Florence, Arizona, in receivership .
December 5, 1933;
disbursements, including offsets allowed;
to depositors
3
and other creditors aggregated $387,890, which represented 97.33 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 90.52 per cent of their claims.
The Commercial National Bank of Essex, Iowa, in receivership May
5, 1931;
disbursements, including offsets allowed, to depositors and
other creditors aggregated $188,866, which represented 95.33 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
94,12 per cent of their claims.
The Citizens National 3 ank of Glenwood Springs, Colorado, in re
ceivership December 29, 1932;
disbursements, including offsets allowed,
to depositors and other'creditors aggregated $400,569, which represented
78,33 per cent of total liabilities.
Unsecured depositors received divi
dends amounting to 65,11 per cent of their claims.
The First National Bahk in Mt. Sterling, Illinois, in receivership
January 7,1930;
disbursements, including offsets allowed, to depositors
and (other creditors aggregated $515,147,
of tttal liabilities.
to
which represented 58.59 per cent
Unsecured depositors received dividends amounting
21.02 per cent of their claims.
The First National Bank of Tranquillity, California, in receiver
ship February 27, 1930;
disbursements, including offsets allowed, to de
positors and other creditors aggregated $309,307, which represented 98.09
per «ent of total liabilities.
Unsecured depositors received dividends
amounting to 93 per cent of their claims.
The First National Bank of Allen, Oklahoma, in receivership
November 14, 1932;
disbursements, including offsets allowed, to depositors
4
and other creditors aggregated $78,741, which represented 72 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
60.82 per cent of their claims.
The First National B ank of Tyler, Minnesota, in receivership
December 23, 1930;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $427,956, which represented 78.58 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 66.67 per cent of their claims.
The Peoples National Bank of Blairstown,.New Jersey, in receiver
ship October 29, 1931;
depositors and other creditors were paid 100 per
cent principal and a portion of the interest, amounting to an additional
dividend of 1.52 per cent.
Total payments to creditors, including offsets
allowed, aggregated $404,279*
The First National Bank of Waldron, Arkansas, in receivership
April 22,
1931;
disbursements, including offsets allowed, to depositors
H
and other creditors aggregated $161,054, which represented 78.77 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 71.8 per cent of their claims.
The First National Bank of Eldora, Iowa, in receivership August
10, 1932;
disbursements, including offsets allowed, to depositors and
other creditors aggregated $359,516, which represented 85.24 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
81.8 per cent of their claims.
The First National B ank of Huron, South Dakota, in receivership
March 14, 1924;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $1,124,657, which represented 54.75 per of
total liabilities.
Unsecured depositors received dividends amounting to
5
24.731 per cent of their claims.
The First National B ank of Ephrata, Washington, in receivership
December 2, 1932;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $95,856, which represented 79.07 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 45.74 per cent of their claims.
The First National B ank of Westfield, Illinois, in receivership
November 28, 1930;
disbursements, including offsets allowed,
to depositors
and other creditors aggregated $209,121, which represented 82.16 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 81.26 per cent of their claims.
The Citizens National B ank of Kendallville,
ship March 16, 1932;
Indiana, in receiver
depositors and other creditors were paid 100 per cent
principal and a portion of the interest, amounting to an additional divi
dend of .86 per cent.
Total payments to creditors, including offsets
allowed, aggregated $504,201.
The First National Bank of Zillah, Washington, in receivership
December 2, 1931;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $117,488, which represented 50.62 per cent
of total liabilities.
Unsecured depositors received dividends amounting
to 23 per cent of their claims.
The First National B ank of Alexis, Illinois, in receivership March
15, 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 tne assets
- 6
sola.
Disbursements during receivership, including offsets allowed, ag
gregated $61,585, which represented 100.84 per cent of total liabilities.
The First national Bank of Blockton, Iowa, in receivership October
22, 1931;
disbursements, including offsets allowed, to depositors and
other creditors aggregated $59,579, which represented 45.06 per cent of
total liabilities.
Unsecured depositors received dividends amounting to
34.61 per cent of their claims.
The Merchants National B&hfe of Defiance, Ohio, in receivership
April 11, 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 $51,101, which represented 45.63 per cent of total
liabilities.
The Prairie Depot National Bank of Freeport, Ohio, in receivership
September 5, 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
in the assets sold.
cover a deficiency
Disbursements during receivership, including offsets
allowed, aggregated $22,307, which represented 76.67 per cent of total
liabilities.
The First National Bank of Sevierville, Tennessee, in receivership
August 13, 1932;
disbursements, including offsets allowed, to depositors
and other creditors aggregated $237,679, which represented 70.80 per cent
of total liabilities.
j j
_4 4.r\-r*c< r*cx*vsd. ¿Lividends snountin^
Unsecured depositors received
to 61.53 per cent of their claims.
7
The First National Bank of Hazard, Kentucky, in receivership March
18, 1930, the liabilities of the institution having theretofore been as
sumed 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 $63,139, which represented 56.97 per cent of total
liabilities.
The First National Bank of Defiance, Ohio, in receivership April
11, 1932, the liabilities of the institution having theretofore been as
sumed 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.$65,365, which represented 61.78 per cent of total
liabilities.
The First National B,ahk of Napoleon, Ohio,, in- receivership' April-,
11, 1934, the liabilities of the institution having theretofore been asr
sumed 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 $29,942, which represented 42.82 per cent of total
liabilities.
The Fir st -National Brgik of Florala, Alabama, ■in receiver snip
January 13, 1930;
disbursements, .including,. off sets allowed,
to depositors
and other, creditors aggregated. $348,,222, which represented 81.11 per-cent
of- total liabilities.,.-Unsecured depositors received .dividends amounting
~
8
-
to 66.97 per cent of their clains.
Dividend paynents during October, 1936, by all receivers of in
solvent national banks to the creditors of all active receiversnips
aggregated $9,548,700.
Dividend paynents to the creditors of all active receiverships
since the banking holiday of March, 1933, aggregated $749,047,053.
IN SO L V EN T
N A T IO N A L BANKS
OR R E S T O R E D
_________
TO
L IQ U ID A T E D
SOLVENCY
OCTOBER
D URING
AND F IN A L L Y
THE
MONTH
CLOSED
OF
1 9 3 6 _____________________________________
Per
of
F a ilu r e :
F ir s t
N a tio n a l
Bank,
A tw ood ,
F ir s t
N a tio n a l
Bank,
B e lle v u e ,
A lle n w o o d
W ilc o x
111.
N a t’l
Bank,
A lle n w o o d ,
N a tio n a l
Bank,
W ilc o x ,
N a tio n a l
Bank
o f
S id n e y ,
Bank,
M ora,
F ir s t
N a tio n a l
Bank,
F lo r e n c e ,
C itiz e n s
N a tio n a l
N a tio n a l
F ir st
N a t *1
Bank
F ir st
N a t 11
Bank,
F ir s t
N a tio n a l
N a tio n a l
P e o p le s
N a t 11
Bank,
Bank,
in
M t.
Bank,
Bank,
R etu rn s
P a id
In c lu d in g
to
U n secu red
O ffse ts
C r e d ito r s:
G len w o o d
A lle n ,
T y le r ,
C a lif.
M in n .
B la ir sto w n ,
W a ld ro n ,
F ir s t
N a tio n a l
Bank,
n ld o r a ,
F ir s t
N a tio n a l
Bank,
H uron*
F ir s t
N a tio n a l
Bank,
E p h reta,
N a t’l
-.1 1 .
O ld .a .
Bank,
N a tio n a l
0
S p r in g s,
S te r lin g ,
N a tio n a l
C itiz e n s
i a
N.
J .
W a sh ,,
Bunn,
W e stx ie ld ,
K e n d a llv ille ,
22 - 3 I
-3 2
3 - 1 U - 2U
12 - 2-32
D.
Bank,
2 3-30
S -lO
Iow a
S.
lU
1 2 -
1 0 -2 9 -3 1
111.
In d .
1 1 -2 3 -3 0
3 - 16 -3 2
6U .3
3 0 9 ,3 0 7 .0 0
9S .09
93.
60.32
66.67
101.52
71.3
-3 2
1 1 -
93.
73.3
5 1 5 ,lU 7 .0 0
U oo,
1 -7 -3 0
10s .521
110 .21
10s.01s
97.33
95.33
7 S .j>3
53.59
1 3 5 .3 6 6 .0 0
2 -2 7 -3 0
103.00
93.29
79.69
C l a i m a n t sj.
90.52
9^.12
3 3 7 .3 9 0 .0 0
1 2 -2 9 -3 2
U -
A rk.
5 7 9 » 0 3 3 .0 0
107.OU
26 l . H l 2.00
1 H- 3 1
5 -5 -3 1
C o lo .
1 0 5 .3 5
1 3 5 ,9 7 6 .0 0
1 2 -5 -3 3
A r iz .
A ll
lU S ,2 2 9 .0 0
2 2 7 ,5 2 1 .0 0
10 - 1 5 - 3 1
S -
A llo w e d
1 9 , 622.00
1 2 22-32
J
1 0 -2 7 -3 1
n ssex ,
F ir s t
F ir s t
1
M in n .
T r a n q u illity ,
Bank,
P a.
6 -2 5 -3 ^
-
Iow a
N a tio n a l
C o m m e r c ia l
*
P a.
F ir s t
F ir s t
la ,
C ent
D i sh u r s em ent s
$
1 2 -5 -3 3
*
Pen
D iv id e n d s
T o ta l
L ate
C ent
T o ta l
569.00
7 3 ,7 ^ -1 .0 0
H
27, 9o*e M
H o H ,2 7 9 . 0 0
,
7 2 .0
73.53
10 1 .IS
1 6 1 05^.00
73.77
35 9 . 516 .0 0
35.2^
5^.75
79.07
3?. 16
1 ,1 2 ^ ,6 5 7 .0 0
9 5 , 356.00
209 . 12 1.0 0
50 U , 2 0 1.0 0
100.67
65.11
21.02
Sl.S
2U.731
U5.7^
SI. 26
100.36
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING- THE MONTH OF
_____________________ OCTOBER 1936_______________________
Continued:
First N a t i o n a l Bank, Zillah, W a s h i n g t o n
First N a t i o n a l Bank, Alexis, Illinois
1/
First N a t i o n a l Bank, Blockton, Iowa
M e r c h a n t s N a t i o n a l Bank, Defiance, Ohio
*
P r a i r i e Depot Nat i o n a l Bank, Freeport, Ohio
First
First
First
First
First
National
National
National
National
National
Bank, Sevierville, Tennessee
Bank
Bank,
Bank,
Bank,
of Hazard, K e n t u c k y
Defiance, Ohio
Napoleon, Ohio
Florala, A l a b a m a
if
if
J
1
l/
Date of
Failure:
Total
Di sbur sements
Iric L a d i n g
Of f s e t s Allowed:
12-2-31
$
117,^83.00
P e r Cent
Total
Re turns
to A l l
Creditors :
50.62
10 0 .
8k
P e r Cent
Dividends
paid
Unsecured
Claimants:
23.
59.12277
3-15-32
61,585.00
10- 22-31
U-ll -32
5 1 ,101.00
1*5.63
9-5-33
22,307.00
76.67
34.61
9.945
'
42.631
237,679.00
63,139.00
65,365.00
29,9^ 2.00
3^8,222.00
70.30
56.97
61.73
*42.82
81.11
32.15
20.93
24.217
3-13-32
3- 18-30
H- 11-32
H- 1 1 - 3H
1 - 13-30
59.579.00
*+5 «06
61.53
66.97
* Formerly in Conservatorship,
l/ Receiver appointed to levy and collect stock assessment covering deficiency in value of assets
sold, or to complete unfinished liquidation.
Sta
OFFICE OF THE COMMISSIONER OF CUSTOMS
November 12, 1936.
MR, FUSSELL
Room 289 - Treasury Department
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures for imports of commodities coming into the
United States from the Philippine Islands, under the quota pro
visions of the Philippine Independence Act and the Cordage Act of
1935, for the period January 1 to October 31, 1936.
When this tabulation has been mimeographed, will you kindly
have 20 copies forwarded to me at Room 415, Washington Bldg.?
The Commissioner of Customs today announced preliminary
figures for imports of commodities coming into the United States
from the Philippine Islands, under the quota provisions of the
Philippine Independence Act and the Cordage Act of 1935, for the
period January 1 to October 31, 1936, and the percentages that such
imports bear to the totals allowable under the quotas, as follows:
Customs Districts
TOTAL IMPORTS
Per Cent of Quota
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawai i
Los Angeles
Maine & N. H.
Maryland
Massachusetts
Michigan
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St, Lawrence
St. Louis
San Francisco
Virginia
Washington
Wisconsin
:
:
:
:_________ S U G;A R S
Coconut Oil i
Refined
: Unrefined
(Pounds)
:
(Pounds)
:
(Pounds)
274,474,591
61.3% •
-
101,077,710
90.2%
1,692,360,242
94.4%
«
11,922,506
14,818,711
11,617
-
17,610,020
-
3,250,500
28,049,950
-
46,647,940
136,608,859
-
8,610,207
11,522
-
:
:
-
20,389,357
-
499,329
—
-
3,744,293
i
26,718,172
-
_
—
81,623,296
23,616,578
-
296,315,680
493,120,377
-
128,300
640,146,643
»
_
-
•»
•
-
-
33,681,843
7,133,357
3,750
-
42,593,202
* Quota year commenced May 1.
-
-
_
130,618,452
_
38,082
-
Cordage*!
(Pounds )|
3,552,981
59.2%
270,435
43,158
J
454,961
330,041
4,539
J
30,496
6,251
36,294
1,016,233
2,048
109,964
11,37|
124,618
13,613
1,831
128,879
716,88(1
17,679
145,690j
87,9971
TREASURY DEPARTMENT
Washington
POR IMMEDIATE RELEASE,
Thursday, November 12, 1936.
Press Service
No. 8~&4
The Commissioner of Customs today announced preliminary figures for imports
of commodities coming into the United States from the Philippine Islands, under
the quota provisions of the Philippine Independence Act and the Cordage Act of
1935, for the p-eriod January 1 to October 31, 1936, and the percentages that such
imports bear to the totals allowable under the quotas, as follows?
Coconut
Cil
(Pounds)
TOTAL IMPORTS
Per Cent of Quota
CUSTOMS DISTRICTS
Chicago
Galveston
Georgia
Hawaii
Los Angeles
Maine & N.H.
Maryland
Massachusetts
Michigan
New Orleans
New Y0rk
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Lawrence
St. Louis
San Francisco
Virginia
Washington
Wisconsin
*
:.
S U & A R S
:
: Refined
Unrefined
:Cordage*
? (Pounds)
_________(Pounds)____ :(Pounds)
274,474,591
101,077,710
1,692,360,242 3,552,981
______ 61.3$____________90.2^__________ 94,4 j
o_______ 59.2^
------------------------------- ~ --- - 17,610,020
_____ '----3,250,500
28,049,950
~ ~ - ----46,647,940
136,608,859
--------- -------- -------------- - - - - 20,389,357
------- ---499,329
- *--------„ _ _ ~
„
----------3,744,293
----------8,610,207
11,522
_ ^
_
26,718,172
--------------- - - - ----- -- -
--- - - - 33,681,843
----------3,750
** ■.** m
**
_ _ _ _ _ _
7,133,357
„
------42,593,202 -
Quota year commenced May 1.
ooOoo
------- - --11,922,506
14,818,711
11,617
------------------------81,623,296
23,616,578
----- ------ 298,315,680
493,120,377
.*■ » '
m>.«•* -*m
128,300
640,146,643
------- - - - - - - - - - - - - - - - - - - - - 130,618,452
~ ~ ~ ------38,082
- - - - - - -
270,435
43,158
454,961
330,048
4,530
30,496
6,251
36,294
1,016,233
2,048
109,964
11,371
124,618
13,615
1,837
128,876
716,880
17,679
145,690
87,997
TREASURY DEPARTMENT
O F FIC E O F THE SECRETA RY
W A S H IN G T O N
November 9, 1936*
SrJ
TO MR. GASTON:
During the month of October, 1936, the following market
transactions took place in Government securities for investment
accounts:
Tbtal purchases ............. #27,021,200
Total sales
* * * * . .
Net purchases:
* ,
#27,021,200
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, November 16, 1936.
Press Service
No. 8-85
Net market purchases of Government securities for Treasury investment
accounts for the calendar month of October, 1936, amounted to $27,021,200,
Secretary Morgenthau announced today.
ooOoo
TREASURY DEPARTMENT
Washington
L-.:!C-,UI\TDUM EOR THE PRESS'
November 16, 1936.
- % - Ij?T3 OF SILVER BY THE MINTS AND ASSAY €EEICES?
'Under Executive Proclamation of December 21, 1933) as amended
Week ended November 13, 1936.*
Philadelphia. .4 ................
San Eranci sco.................
Denver. ...■. .L ..........
Total for week ended November 13, 1936.............
Total receipts through November 13, 1936......
1,065,459.64 fine ounces
510,558.13
» »»
8.303.09
«» r
t'
1,584,320.86
» f
112,492,802 „04
» f
SILVER TRANSFERRED TO UNITED S T A T E S ;
(Under Executive Proclamation of August 9, 1934)
Week ended November 13, 1936:
Philadelphia .......... ..... .
New York........ ............ .
San Eranci s c o ..... ...........
Denver....................
New Orleans ................
Seattle.......................
Total for week ended November 13, 1936 ....... .
Total receipts through November 13, 1936..____ ___
755.00 fine ounces
755.00 fine ounces
112,989,158.27 «
»
RECEIPTS OE GOLD BY THE MINTS AND ASSAY OEEICES:
New
Week ended November 13, 1936:
___ Imports
Secondary
Domestic
Philadelphia................
$
22,884.61 $102,981.29 $*
531.09
New York.....
27,238,900.00 134,600.00
230,600.00
San Eranci sco.... .........
1,184,245.46
29,977.57 1,616,078.69
Denver ........ ...................
*
48,436*90
20,369.41
797,018.87
New Orleans ......... .
278.62
17,565.06
273.22
Seattle .............. ............
-------* ~ r. ... 1,374.13
854.390.76
Total ior week ended November 13.,.
$28,494,745.59 $306,867.46 $3,498,892-.63
ooOoo
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NIWSPAPffiS,
Press Service
Tuesday* ffavember 17. I°v9f .11/16/36
Sf - f /
*
*
Secretary of the Treasury Morgenthau announced
la s t evening that the tenders for 150,000,000, or thereabouts,j
o f 273-day Treasury b i l l s , dated November 18, 1936, and matur
ing August 18, 1937, which were offered on November 13, were
opened at the Federal Reserve banks on November 16.
The total amount applied for was §136,273,000,
of which 150,083,000 was accepted.
The accepted bids ranged
in price from 99.939, equivalent to a rate of about 0.080
percent per annum, to 99.919, 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 la tte r price was accepted.
The average price of Treasury b i ll s to be issued is 99.923
and the average rate is about 0 .10 1 percent per annum on a
bank discount basis*
jT)
TREASURY DEPARTMENT
Washington
Press Service
No. 8A86
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, November 17, 1936,_____
11-16-36.
Secretary of the Treasury Morgenthau announced last evening that the
tenders for $50,000,000, or thereabouts, of 273-day Treasury hills, dated November
18, 1936, and maturing August 18, 1937* which were.offered on November 13, were
opened at the Federal Reserve banks on November 16,
The total amount applied for was $136,273,000, of which $50,083,000 was
accepted.
The accepted bids ranged in price from 99.939, equivalent to a rate
of about 0.080 percent per annum, to 99.919,,equivalent to a rate of about 0.107
percent per annum* on a bank discount basis.
at the latter price was accepted.
Only part of the amount bid for
The average price of Treasury bills to be
issued is 99.923 and the average rate is about 0.101 percent per annum on a
bank discount basis.
ooOoo
-
on exactly the
mm
4 *
terms.
The merit of this plan, in
my
opinion, is that youth and experience have had equal oppor
tunities#
'X hope for the exhibit the fullest measure of success#
Franklin D. Roosevelt.*
Through the courtesy of the Director and Trustees of the Corcoran Gallery
of Art, we are enabled to hold this exhibition which will last through
December 15th#
I want to thaal^the artists who have done this work, and to recommend this
exhibition to you#
much as I have#
I hope you will all come and see it and enjoy it as
-
5
of and feeling for works of grace and beauty which is an essential part
of a National culture*
It means also that this age will be able to leave
behind it, along with the achievements of the machine, a record of our art
sense and our art progress,
I now have the privilege of reading to you a statement by the President*
He says*
*1 have learned with sincere interest of plans to hold,
at the Corcoran Gallery of Art, an exhibit of painting and
sculpture done under the Treasury Department Art Projects.
,fIt is clear that the extensive building of new court
houses, post offices and other Federal buildings that come
within the scope of the Treasury Department*s activities
brings with it an important opportunity for the artists of
America to make our public buildings more beautiful with
painting and sculpture.
The decoration of these buildings
will make it possible to bring those two noble arts back to
a close and fruitful relationship with architecture, and,
at the same time, to give to our artists a chance to practice
their professions under conditions fostering this revived
relationship.
ii
I a® glad to learn that in the preliminary competitions
no attempt was made to seek out for special favor, artists of
established name, but that the competitions were open to tfta
unknown, to the ybung, and to established and famous artists,
•
z
-
has given his best without stint and without reservation.
I have the honor to introduce The Honorable The Seeretaiy of the Treasury,
Mr. Henry Morgenthau, Jr*
Secretary Morgenthaui
It gives
m
great personal pleasure to be able to open this exhibition*
I am proud of this showing of the work of American artists In the decora
tion of United States Government buildings.
To you, Mr. Bruce, should go,
I think, the major credit for what the Treasury Department has been able
to accomplish for native American art in the last three years.
The Treasury Department Art Program is, a part of the work of, the Procurement
Jf VJL4J/JUL6
,
X t ^ section of raint-
Division, nfrfrrh d w tipin
ings add Sculpture supervises the suitable decoration e f theta-buildIngs
with murals and carvings.
We have here a representative selection of art
works designed for this use.
It is an impressive example not only of our
resources in art ability, but also of the co-operation of architects,
painters and sculptors to make this work really expressive of American genius
and the American spirit.
It seems to me that there is a double gain in the artistic embellishment of
our public buildings with paintings and sculpture*
It provides a new oppor
tunity and a new stimulus for artists by permitting them to work on subjects
of the broadest cultural interest with the knowledge that if their work is
soundly conceived and well executed it will fora a part of a permanent
hibition»ffi»i7l Am tfaw eym.pmkfcfcCK
ex-
for the public it means a better
opportunity to enjoy modern works of art and thus to develop that knowledge
MATERIAL FOIi A RJL&XO TALK BY THE HONORABLE THE
SECRETARE OF THE TREASURE, HENRY MGRGRNTHAU, JR , OH THE
OCCASION OF THE OPENING OF THE TREASURE BEFARTMMf ART
PROGRAM *S EXHIBITION AT THE CORCORAN GALLERY ON TUESDAY,
NOVEMBER 17th.
Radio Announcer*
During the next few minutes we will have the privilege of Leering from
the Secretary of the Treasury, Mr. Henry Morgenthau, Jr., who will pre
sent a message from the President of the United States.
First, let
m
present Mr. Edward Bruce, Chief of the Section of Painting and Sculpture
of the Treasury Department.
Mr. Brucei
Mr. Secretary, it is a signal honor to Invite you to open this exhibition
which represents most of the work done during the last two years under
the far-flung program for the embellishment of public buildings, inaugurated
by you.
Our effort has been to follow your instructions and to secure for the
Government the best art which this countxy could produce.
There is, un
fortunately, no standard, or yardstick, by which the quality of a work or
art can be accurately measured.
We have maintained, however, a high
technical and professional standard.
The work exhibited gives -a fair
cross section of the work accomplished.
Your program is, in
opinion,
the most far reaching, liberal and impartial plan which the artists of
this, or any, country have ever been privileged -to engage in.
challenge to the American artist.
It is a
I hop© you will agree with me that he
9
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TREASURY DEPARTMENT
Washington
FOR RELEASE UPON DELIVERY,
4:45 P.M, Eastern Standard Time
Tuesday, November 17, 1936.
Press Service
No. 8-87
Following is the text of the remarks of Edward Bruce, Consulting Art Expert
of the Treasury Department, and of Secretary Morgenthau on the occasion of the
opening of an exhibit of murals and sculpture for public "buildings, at the
Corcoran Art Gallery in Washington, on Tuesday, November 17, 1936,
Mr. Bruce:
Mr. Secretary, it is a signal honor to invite you to open this exhibition
which represents most of the work done during the last two years under the
far-flung program for the embellishment of public buildings, inaugurated
^y you.
Our effort has been to follow your instructions and to secure for the
Government the best art which this country could produce.
There is, un
fortunately, no standard, or yardstick, by which the quality of a work
or art can be accurately measured.
.We have maintained, however, a high
technical and professional standard.
The work exhibited gives a fair
cross section of the work accomplished.
Your program is, in my opinion,
the most far reaching, liberal and impartial plan which the artists of
this, or any, country have ever "been privileged to engage in.
challenge to the American artist,..
It is a
I hope you will agree with me that he
has given his best without stint and without reservation.
I have the honor to introduce the Honorable, The Secretary of the Treasury,
Mr. Henry Morgenthau, Jr.
Secretary Morgenthau:
It gives me great personal pleasure to be able to open this exhibition.
I
am proud of this showing of the work of American artists in the decoration cf
United States Government 'buildings.
To you, Mr. Bruce, should go» I think,
the major credit for what the Treasury Department has "been able to accomplish
for native American art in the last three years.
The Treasury Department Art Program is a part of the work of the Procurement
Division, under the able direction of AdmirQl Peoples.
Its section of Paint
ings and Sculpture supervises the suitable decoration of Federal buildings
with murals and carvings.
We have here a representative selection of art
works designed for this use.
It is an impressive example not only of our
resources in art ability, but also of the cooperation of architects, painters
and sculptors to make this work really expressive of American genius and the
American spirit.
It seems to me that there is a double gain in the artistic embellishment of
our public buildings with paintings and sculpture.
It provides a new oppor
tunity and a new stimulus for artists by permitting them to work on subjects
of the broadest cultural interest with the knowledge that if their work is
soundly conceived and well executed it will form a part of a permanent
exhibition.
For the public it means a better opportunity to enjoy modern
works of- art and thus to develop that knowledge of and feeling for works of
grace and beauty which is an essential part of a National culture.
It means
also that this age will be able to leave behind it, along with the achievement
of the machine, a record of our art sense and our art progress.
I now have the privilege of reading to you a statement by the President.
He says:
1*1 have learned with sincere interest of plans to hold, at the
Corcoran Gallery of Art, an exhibit of painting and sculpture done under
the Treasury Department Art Projects,
»»It is clear that the extensive building of new court houses, post
offices and other Federal buildings that come within the scope of the
Treasury Departments activities "brings with it an important
opportunity for the artists of America to make our public buildings
more beautiful with painting and sculpture.
The decoration of these
buildings will make it possible to bring those two noble arts back
to a close and fruitful relationship with architecture, and, at the
same time, to give to our artists a chance to practice their professions
undei* conditions fostering this revived relationship.
T,I am glad to learn that in the preliminary competitions no
attempt was made to seek out for special favor, artists of established
name, but that the competitions were open to the unknown, to the young,
and to established and famous artists, on exactly the same terms.
The
merit of this plan, in my opinion, is that youth and experience have
had equal opportunities*
HI hope for the exhibit the fullest measure of success*
Franklin D. Roosevelt-.*1"
Through the courtesy of the Director and Trustees of the Corcoran Gallery
of Art., we are enabled to hold this exhibition which will last through
December 13th.
X want to thank most heartily the artists who have done this work, and to
recommend this exhibition to you#
X hope you will all cone and seeit and
enjoy it as much as I have,*
00O 00
V
Customs District
TOTAL IMPORTS
Per Cent of Quota
: Cattle 700
:
Pounds
: Or More
:
(Head)
155,366
99,7$
: -Dairy Cows
: 700 Pounds
:
Or More
:
(Head)
5,382
26.9%
FROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
7,093
43,309
1,541
1,328
3,133
22
594
289
20,825
684
2,708
927
Total from Canada
134,247
5,382
7,889
7,109
6,064
57
-
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
NOTE:
28,716
3,656
22,834
261
84
562
-
1
15
-
962
-
49
1
-
35
-
-
21,119
The quota on cattle weighing less than 175 pounds
each has been filled.
-
-
— Y
Xi
Th© Commissioner of Customs today announced preliminary
figures for the imports of cattle under the quota provisions of
the Canadian Trade Agreement, for the period January 1 to
November 7, 1936, and the percentage that such imports bear to
the totals allowable under the quota provisions, as follows:
OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta
November 17, 1936.
TO MR. FUSSELL
(Room 289 - Treasury Department)
FROM MR. FREEMAN:
There is attached a tabulation for immediate release showing
preliminary figures for the imports of cattle under the quota pro
visions of the Canadian Trade Agreement, during the period from
January 1 to November 7, 1936.
When the tabulation has been mimeographed t please have 55
copies forwarded to me at Room 415, Washington Building.
J
TREASURY DEPARTMENT
Washington
Press Service
fei
0
•
cx>
1
CD
CO
FOR IMMEDIATE RELEASE,
Tuesday, November 17, 1936.-
The Commissioner of Customs today announced preliminary figures for the
imports of cattle under the quota provisions of the Canadian Trade Agreement, for
the period January 1 to November 7, 1936, and the percentage that such imports
bear to the totals allowable under the quota provisions, as :follows:
Custons District
Cattle 700
Pounds
Or More
(Head)
TOTAL IMPORTS
Per Cent of Q,uota
155,366
99.7$
PROM CANADA
Buffalo
Chicago
Dakota
Duluth & Superior
Maine & New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St, Lawrence
Vermont
Washington
Total from Canada
PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
NOTE:
Dairy Cows
700 Pounds
Or More
(Head)
5,382
26.9$
1
28,716
3,656
22,834
261
84
562
7,093
43,309
1,541
1,328
3,133
22
594
289
20,825
134,247
7,889
7,109
6,064
57
21,119
15
962
49 :
1
— ——
35
— — —
- - — — —
684
2,708
927
5,382
——
— — —
— •" **
mrn
m*
mm
The quota on cattle 7/eighing less than 175 pounds each has “been filled.
00O 00
~P C z
%
Î3>
of thu Sarootio Bureau ^ t & Æ h © Custom A^enoy Servio© &ad other
A
Treasury
m n t in
*
“
m
w
H
è
à
i
m
*
% u .
K
<&fcairdi*§ s » # effeotiv© siarootloe enforee-
the Bow ttijjfc area*
<w«—©00—1
*»•
YHR&SMY
^
A
ViPWTsŒm
Washington
0..jij,f
F o è ’SMMhSM
Pro #» Service
3 oorotary Morgenthau announced today that Garland William#
ttf0>*m*mmmKn./h^F>k^,^n>\ 01
il&uT¿$ ^ 7
had boon transferred!
from the
ftjririnia^r-ytrrn
Tiigjrrl ire
t ^ | ^ w s w » b%
tho ettatjfriin
(haat ^ a-Ageaey
’U"*”* Oj *Ÿ^4„ C<Ar^-/
C>Qrkwa Qh/*1
£“f jfâit&'Ù,- /-&f€±i
/^to bo e m
PI stri et Supervisor of the Barcotio Bureau in How Text:
A
City.
d S a U B l o
roplaeW'^raak L, Xgoe, who ha# boon transferred
to field duty outside of low York*
In addition tho following changes in Bareotic Bureau personnel
in Hew York City have boon made by direction of tho Secretary*
Marootic Agent# San H. Menkes, Martin A« Meyer and Salvatore
Pacetta have been removed from tho service,
Harcotio Agent# Colcsa&n P. Manning, Robert 1« Primrose, Martin
Bain, l&aasuel Elhaum, Charles Be Stefano, Ferey Clark end Joseph h*
Barde# have been transferred f r m
the Hew York Division to field duty
elsewhere.
Action in the shove cases is the result of an investigation of
conditions of narcotic enforcement in the low York area, by direction
of the Secretary and
d^tfJrrwk^
i»
,d
vf>
Yhe in vesti gabion m s conducted
by the Intelligence Unit of the Bureau of Internal Revenue la cooperation
pX**,t
with the eoi»tosasp §sg raxJiarrtoM,
Ellison C* Palmer, Special Agent in
Charge of the Atlanta Division of the Intelligence Unit of the Bureau
of Internal Revenue, has been in direct ©barge ©f the investigation,
Mr. Palmer will remain in Hew York temporarily to promote ©©ordination
TREASURY DEPARTMENT
Washington
EQR IMMEDIATE RELEASE
Tuesday, November 17, 1936.
Press Service
8-89
Secretary Morgenthau announced today that Garland Williams had
"been transferred from the position of Superintendent of the Southwestern
Division of the Customs Border Patrol at El Paso, Texas, to "be District
Supervisor of the Narcotic Bureau in New York City, replacing Frank
Igoe,
who has "been transferred to field duty outside of New York*
In addition the following changes in Narcotic Bureau personnel in
New York City have "been made "by direction of the Secretaryr
Narcotic Agents Sam H. Menkes, Martin A. Meyer and Salvatore
Pacetta have "been removed from the service.
Narcotic Agents Coleman P » Manning, Robert E. Primrose, Martin
Hain, Emanuel Elbaum, Charles De Stefano, Percy Clark and Joseph L. Bardes
have been transferred from the New York Division to field duty elsewhere.
Action in the above cases is the result of an investigation of
conditions of narcotic enforcement in the New York area, by direction of
the Secretary and in cooperation with United States Attorney Lamar Hardy
of the Southern Judicial District of New York.
The investigation was con
ducted by the Intelligence Unit of the Bureau of Internal Revenue in cooper
ation with Mr. Hardy and his assistants.
Ellison C. Palmer, Special Agent
in Charge of the Atlanta Division of the Intelligence Unit of the Bureau of
.Internal Revenue, has been in direct charge of the investigation. Mr. Palmer
will remain in New York temporarily to promote coordination of the activities
of the Narcotic Bureau with those of the Customs Agency Service and other
Treasury organizations in obtaining more effective narcotics enforcement in
the New York area.
— oOO'
T h e iSffisJiajli/1M
. A , o a n
Juan, ieurto Rico,
Customs teem fpp¡sSsfeafc made high score in the prelimi nary
matches but finished fourth in the finals.
Secretary Morgenthau congratulated the winners
and stated that the matches had proved so successful that
.+
'
C ^ v CCa^ u ,/
^
to s«sasss±*UT them as annual .eventsjSsrxfe*
Hzxtxygxx (ghe trophy~oup') noVTa'd'Tgthe Bureau of Custl
will be^subject of competition again next year.
SikE X3IX±XhXXXE3DXLXX±±t:±EH
In
ctober, 1934, xx
under direction of the
Secretary, the Treasury department instituted the training
of Ki± law enforcement officers by experts of the United
States Coast Uuarid• ^fter preliminary training ±nx
writh .22 caliber small arms more than
4 ,000
officers
had qualified with .38 caliber arms and were qualified to
enter in this year *s competition.
JIM.
w
Secretary Morgenthau today macdx presented a
trophy cup to the Eureau of Customs and ±hj¿ixi&xxi: medals ti
le ading
b&
f*
members of steams and individual competitors in the'matches!
in feaall arms markmahship concluded yesterday
Qu*» V!
xhe winning three-man team x e xx e h Iix represented!
the El Paso (Texas) Customs Border Patrol, ■‘
•he team made a
O
score of 770 of
gold medals.
pos s ib
a
l e
900 T
The scond team
'
C>£, &*,-•><L|
Its memhersYrec.e ived Q
35
with a score of 756
represented the Seattle (Washington) Customs ^order Patrol.I
_
1 ip W V
—
Its member^Areceived silver medals»
0. score
X
\1 |
of 723. represented the White House
0 ¿X *G & \ j
f
^
i
,SU-'V'—
| g
E | *
ji
xhe(Jfchird team, wi h
'lice e Its
| 4~
^received ftronze medals.
The high individual marksmCn.5.i
V
and their scorn
all members of the Customs Border Patrol ,Awb,re:
281 of a possible 300j'
^
First,- E. L. Ballinger, amitiisT El Paso 1/ second- M. R .
^2761
^J\
Rogers, Seattle^!third - L. H. Anderson,
Havre (Montana),
265.
XhsxEx±K±±xi
Cold, silver and bronze medals were
respectively to
awarded .first, second and third marksmen in the individual
event•
Preliminary matches were held in 15 cities in the
United States andduerto Rico' October 30, -‘
T T-mimt .ith
258 men in 67 teams, competing for the honor of visiting
Washington for the finals. Hkch contestant used a .38 edit*
revo ver ^ith four-inch barrel and open factory sights.
TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Tuesday, November 17, 1936.
Press Service
No« 8^*90
Secretary Morgenthau today presented a trophy cup to the Bureau of Customs
and medals to nenhers of leading teams and to leading individual competitors in
the Treasury Department national matches in small arms narkmanship concluded
yesterday at Camp Simms«.
The winning three-man team represented the El Paso (Texas) Customs Border
Patrol«'.
The team made a score of 770 of a possible 900«
Ballinger,
q
Its members,, E« L«.
* A« Toole and 0. B« Gardiner, received gold medals«.
The second
team, with a score of 756, represented the Seattle (Washington) Customs Border
Patrol*
Its members*. M* R«, Rogers,. P* M« Chapman and L. J« Trones,. received
silver medals*
Police*
The third team, with a score of 723, represented the White House
Its members, J. J, Cash, R«. G*. Eord and R« F* Hallion,. received bronze
medals*
The high individual marksmen, all members of the Customs Border Patrol,
and their scores,, were:
First - E* L« Ballinger, El Paso, 281- of a possible 300
second - M«- R« Rogers, Seattle,. 276; third - L. H* Anderson,. Havre (Montana), 265
Gold, silver and bronze medals were awarded respectively to first, second and
third marksmen in the individual event«
Preliminary matches were held in 15 cities in the United States and at
San Juan, Puerto Rico, October 30, with 258 men, in 67 teams, competing for the
honor of visiting Washington for the finals«
Each contestant used a «38 caliber
revolver, with four-inch barrel and open factory sights*
The San Juan, Puerto Rico,, Customs team made high score in the preliminary
matches but finished fourth in the finals«
- 2 -
Secretary Morgenthau congratulated, the winners and stated that the matches
had proved so successful that it was planned to continue then as annual events*
The trophy cup* now h eld "by the Bureau of Customs, will he tbe^subject of competi
tion again next year*
In October, 1934, under direction of the Secretary, the Treasury Department
instituted the training of law enforcement officers by experts of the United
States Coast Guard.
After preliminary training with .22 caliber small arms more
than 4,000 officers had qualified with *38 caliber arms and were qualified to
enter in this yearns competition.
‘-oOo—
m m m m m m m onmm?
ABOARD
COAST GUARD CDTTER
SA«
IK FORT AT m a S M
¿ S U B
0« XJKMM
It Is proposed to include in the announcement tomorrow of the appointment
of Morrison Shafroth as Assistant General Counsel for the Bureau of
Internal Revenue a statement somewhat as follows
Q0OT1 Arthur H* Kent
who has been acting Chief Counsel of the Bureau of Internal Revenue is
being anointed to the position of Assistant General Counsel of the
Treasury Department to take the place left vacant by the resignation of
Clayton X* Turney* Mr* Kent has been acting head of the Internal Bevenue
division of th© Treasury Department's legal staff since the resignation
last year of Robert B* Jackson who left the Treasury Department to become
Assistant Attorney General 0KQTJOTI
It Is also proposed that before
giving out this statement the Secretary and I will see Kent tomorrow
morning and the Secretary will advise Kent of these changes STOP
I understand that this arrangement has already been discussed with and
approved by you but have you any suggestions or comments to make as te
the procedure above described STOP Please reply to arrive here tonight
if possible or not later than the first thing tomorrow morning*
OPPER
(Initialed) C. V. 0,
jsu, ±y_5u+-+uunLiULma
* Total all
*
banks
|
\
onpT
banks
All hanks
other than
national
:
Banks other than national
:
State
:(commercial)*
j Private
* banks
• Mutual
• savings
LIABILITIES-Continued
Certified and cashiers* checks, cash
letters of credit, etc.............
Deposits not classified..............
Total deposits.................
Bills payable.................. ......
Rediscounts........ .................
Agreements to repurchase securities
sold........................... .
Acceptances executed by or for ac
count of reporting banks..........
Interest, taxes, and other expenses
accrued and unpaid.................
Dividends declared but not payable
and amounts set aside for undeclare d
dividends and for accrued interest
on capital notes and debentures,...
Other liabilities....................
Capital notes and debentures........
Preferred stock......................
Common stock................. ........
Surplus...............................
Undivided profits-net........ .......
Reserves for contingencies..........
Retirement fund for preferred stock
and capital notes and debentures...
Total..........................
96
636
—
3 2 ,13 9 .36 2
10,059,951
2,425
44f
1+2.796
563
31+,373
552
3*39
—
883
586
297
297
—
—
208,005
95.6 59
112,346
112,346
—
—
7 1 .7 7 6
1+7 .3 1 6
24,460
1 7 ,7 0 7
6,751
2 8 ,oU3
5 ,1+30
365,123
2l+l+,7i9
190,178
1,29*+,95*
2 ,1+35,025
2,030
310 ,992
2 2 6 ,13 2
19 0 ,178
58,339>815
45,221
1,010
33*73
353. 6UU
— »
26,200,453
480,144
2,592
17
479,412
2,575
2 1 ,496,282
833>788
2,592
. 527>305
1 6 2 ,1 S2
2 4 4 ,7 19
633.667
706,427
1+23.632
— .
1*3,1+89
1,247,886
973,393
31+6,039
11+7 ,2 1 9
11,390
7.7 0 2
3,688
3>1+57
6 7 ,198,581
29,702,839
37,1+95,71+2
2 5 ,35 5 ,5 15
2,542,S40
3,4 o s ,4i s
*Includes loan and trust companies and stock savings banks.
360,388
276 *13
1,248,529
1,270,873
210,978
230,789
583,129
4,984
Î1
2
3,400
1 4 ,9 1 1
18,587
—
—
1 ,1 3 1 ,7 6 7
11+8,966
21,053
231
1 1 ,1+09,056
39,220
— *
—
46,425
32,385
444
2 4 ,5 7 1
—
731,171
■BUK -RB U A b i L ! ,
MUJWimii M W ü P JL M iü J,
M o b âjew > ^ ov-emtiër
//- /<f~3 4
6.
S'- ? /
Because of the many requests for information with respect to all active hanks in the country as of June 30,
1936, the Comotroller of the Currency has released the following information, which will subsequently he included
in his annual report to Congress as required in Section 333 of the -Revised Statutes:
Statement of assets and liabilities of all hanks June 30, 1936
(Amounts in thousands of dollars)
J
*
Banks other than national
All hanks
Total all
| National
other than
hanks
*
hanks
*
;
Mutual
: Private
*
State
<
•1
national
* (commercial)* • savings
* hanks
ffumher of hanks....................
15>803
5 ,3 7 4
10,429
566
9 >732
131
ASSETS
Loans on real estate...............
$ 8 ,5 15,70 8
$ 1 ,370,^69
$ 7 ,14 5 ,2 3 9
$3 ,SU2
$2 ,12 0 ,8 7 1
$5,020,526
Other loans........................
6 ,388,680
5,924,817
1 2 .3 1 3 . P 7
5 ,72 8 ,5 16
10 3 ,19 4
93,107
Overdrafts.........................
9 ,9 5 4
5 ,7 6 1
4,885
4,193
1
875
U. S. Government securities, direct
and fully guaranteed............
1 7 ,358.200
8,447,364
8 ,910,836
2,082,005
343,854
6,Usi+,977
Other bonds and securities.... .
4 ,035,261
6,466 ,072
3,607,940
1 0 ,50 1,333
86,760
2,771,372
Banking house, furniture and
fixtures....... .................
1,363,426
6*41,550
7 2 1,8 7 6
580,286
134,014
7,576
Real estate owned other than hanking house........................
184,123
1,263,742
4 10 ,4 73
1 ,0 79 ,6 19
667,399
1,7*7
Cash in vault......................
1 ,0 18 ,9 5 1
4 3 3,2 10
531,694
1,8 7 0
1*3 7,2 5 7
5 2 ,17 7
Balances with other hanks, including reserve with reserve agents.. 14, 1 0 3 ,1*30
7,8p,732
5 ,620,525
6 ,253,698
140,745
492,428
Other assets.......................
750,340
249,773
500,567
363,832
40,708
96,027
Total........................
29,70P,g39
67,198,581
37,495,742
11,409,056
2 5 ,3 5 5 ,5 1 5
731,171
LIABILITIES
Demand deposits of individuals,
partnerships, and coruorations...
Time deposits of individuals, partnerships, and coroorations......
State, county, and municiual
deposits.........................
U. S. Government and nostal savings
deuosits..........................
Denosits of other hanks...........
22,461,996
1 1 ,665,872
1 0 ,79 6 ,12 4
1 0 ,3 5 7 ,10 6
3,623
435,395
23,446,681
7 ,0 74,544
1 6 ,3 7 2 ,1 3 7
6,278,679
1 0 ,0 55,2 75
38,183
3,342,848
2,108,486
1 ,234,362
1,228,884
787
4 ,6 9 1
1 ,3 4 6 ,1 1 6
829,903
4 ,168,004
5 16 ,2 13
5 16 ,2 13
2 ,7 37,79 0
2 ,633,413
6 ,905,794
—
—
153
104,224
Assets and l i a b i l i t i e s of a.j.1 os-nlcs Jun.0 3 0 * 1336“ ContiiTu.ed.
national
banks
page 2
All banks
other than
!
national
•_____Banks other than national______
State
: Mutual
: Private
:( commercial)* » savings
» banks
In.ABILITIES — Continued
Certified and cashiers’ checks, cash
letters of credit» e t c.... .
Deposits not c l a s s i f i e d ....... .
4so ,ikk
2,59.2
833>78o
2,592
353,6UU
Total deposits ................ 58,339,815
Bills payable .................... .
45,221
Rediscounts ........................ .
1,010
Agreements to repurchase securities
sold .................. .......... ..
323
Acceptances executed by or for ac
count of reporting b a n u s .... .
20S,OO 5
Interest, taxes, and other expenses
accrued and unpaid ........ .......
71,776
Dividends declared but not payable
and amounts set aside for undeclared
dividends and for accrued interest
on capital notes and debentures ...
33 ,>+73
Other liabilities .............
527,305
Capital notes and debentures .......
244,719
Preferred stock .............. .....
633,667
Common stock ................. .
2,542,340
Surplus ..............................
3,403,4l8
Undivided prof it s-net ......... ..
706,427
Reserves for contingencies ..........
U 23,632
Retirement fund for preferred stock
and capital notes and debentures ..
11,390
26,200,453
32 ,139.362
479,412
2,575
21,49b ,2b2
2,425
447
>+2,796
3^, 373
563
552
526
297
297
ipfä
jj ,¿¡So
^ jj
112,346
112,346
>+7,316
24,46o
17,707
6,751
22,0U3
162,182
—
5, >+30
2,030
310,992
226,132
14,911
Total ....................... .
67,15 s, 531
443,4S9
1,247,226
973,393
346,039
1 ^ 7,219
7,702
29,702,839
^Includes loan and trust companies and stock savings banks
365,123
244,719
190,172
1 ,294,954
2 /435,025
360,32s
276,413
3,622
37,495,742
1QO 178
1 ,24.3,529
1*270,873
210,972
230,729
3, >+57
25,355,515
96
17
10 ,055,951
3,439
—
636
523,129
~4,9S4
11
2
3,>+00
18,527
—
39,220
—
—
46,425
1 ,131,767
143,966
21,053
231
1 1 ,409,056
32,325
444
2>+,57i
731,171
T O R ' T E Z & A O E T w O R T T f n ^ l-ij : w t
>
S
e
Monday, November 23, 1936.
r
v
i
c
e
Washington
Ho.
^ - 91
11-13-36
Because of the many requests for information with respect to all active hanks in the country as of June 30»
1936, the Comptroller of the Currency has released the following information, which will subsequently he included
in his annual report to Congress as required in Section 333
the Revised Statutes:
Statement of assets and liabilities of all hanks June 30, 1936
*
*
H um ber
of
hanks
( Am ount s
T o ta l
in
th ou san d s
■;’ s t i o n a l
a ll
banks
’
banks
1 5 .5 0 3
..........................................
of
d o lla r s)
:
A ll
:
oth er
:
banks
:
th an
•
n a tio n a l
:
Banks
th an
n a tio n a l
•
M u tu al
( c o m m e r c ia l)* :
sa v in g s
S ta te
566
9 ,7 3 2
1 0 ,4 2 9
5 , 3 7 1+
oth er
ï
P r iv a te
hanks
I
3I
ASSETS
Loans
on
O th er
lo a n s
f h r f i r r l r a . f t, s
U.
S.
.....................
$ 3 ,5 1 5 ,7 0 3
....................................................
1 2 ,3 1 3 ,* + 9 7
r e a l
e s ta te
. . . .............................................
G -overn m en t
and
f u lly
g u a ra n teed
bonds
and
B a n k in g
h ou se,
f i TThiTTfifi
R ea l
in g
C ash
h ouse
B a la n c e s
in g
O th er
ow ned
w ith
reserv e
a s s e ts
oth er
th an
w ith
$
2 , 12 0 ,3 7 1
5 ,7 2 3 ,5 1 6
1 1 .1 9 3
6 , 434,977
3 . 607,940
4 ,3 3 5
$
5 , 020,526
9 3 ,1 0 7
1
ban k s,
reserv e
$ 3 ,3 4 2
10 3 ,19 4
375
2 ,7 7 1 ,3 7 2
34 3,35 4
36,760
5 3 0 ,2 3 6
1 3 4 ,0 1 4
7 ,57 6
1 , 079,619
4 1 0 ,4 7 3
667,399
5 2 ,1 7 7
1,7 4 7
1,3 7 0
4 9 2 ,4 2 3
l4 0 ,745
4 0 ,7 0 3
7 3 1 ,1 7 1
1 7 , 353,2 0 0
S, 1
* 7 ,3 6 4
2 , 9 10 ,8 36
1 0 ,5 0 1 ,3 3 3
4 ,0 3 5 ,2 6 1
6 ,4 6 6 ,0 7 2
X ,3 6 3 .4 2 6
6 4 1,55 0
7 2 1,8 7 6
1 ,2 6 3 ,7 4 2
1 8 4 ,1 2 3
2 ,0 3 2 ,0 0 5
bank-
.............................................
oth er
$ 7 ,1 4 5 ,2 3 9
5 ,9 2 4 ,8 1 7
5 ,7 6 i
so
and
....................................................
v a u lt
T o ta l
fu r n itu r e
.
................................ ..........................
e s ta te
in
9 ,9 5 4
..................
s e c u r itie s
1 , 3 7 0 , 1 + 09
6 ,3 S S ,6
d ir e c t
s e c u r itie s ,
O th er
$
1 , 0 1 s , 9 51
5 3 1 .6 9 * 1
4 3 7 ,2 5 7
4 3 3 ,2 1 0
1 4 , 10 3 .4 3 0
7 , 249 ,732
6 , 2 5 3 , 6°8
5 , 620,525
in c lu d
a g en ts
,
.........................................................................
.....................................................
7 5 0 ,3 1 »
2 4 9 ,7 7 3
5 0 0 ,5 6 7
3 6 3 ,2 3 2
6 7 ,1 9 3 ,5 3 1
2 9 ,7 0 2 ,3 3 9
3 7 / 495 , 7 4 2
2 5 ,3 5 5 ,5 1 5
96,027
1 1 , 409,056
2 2 ,4 6 1 ,9 9 6
1 1 ,6 6 5 ,3 7 2
10 7q £ lpk
1 0 , 3 5 7 ,10 6
3,6 2 3
4 3 5 ,3 9 5
2 3 ,4 4 6 ,6 3 1
7 ,0 7 4 ,5 4 4
1 6 , 3 7 2 ,13 7
6 , 273,679
1 0 ,0 5 5 ,2 7 5
3 3 ,1 3 3
3 .3 4 2 ,3 4 3
2 ,1 0 3 ,4 3 6
1 , 234 ,36 2
1 ,2 2 3 ,3 3 4
1 ,3 4 6 ,1 1 6
8 2 9 ,9 0 3
6 ,9 0 5 .7 9 4
4 , l6 S ,0 0 4
5 16 ,2 13
2 , 737,790
5 16 ,2 13
2 , 6 3 3 ,4 13
LIABILITIES
Demand deposits of individuals,
partnerships, and corporations ..
Time deposits of individuals, partnerships, and corporations .....
State, county, and municipal
deposits ........................
U. S. Government and -costal savings
deposits .........................
Deposits of other banks ...........
777
(o(
4,691
—
*
—
15 3
1 0 4 ,2 2 4
TREASURY DEPARTMENT
Washington
FOR RELEASE , 1 3 S » NEWSPAPERS
Friday, November 20, 1956«_____
11/ /36
Press Service
No. 3 - 9 ^
Secretary Morgenthau has appointed Arthur H. Kent, of Chicago,
Illinois, to he Assistant General Counsel of the Treasury Department,
filling the place made vacant by the recent resignation of Clayton M.
Turney,
Mr, Kent has been associated with the legal staff of the Treasury
„
,
.............. V
*/
.
Mr, Kent will take over his new duties in the Treasury Department
about December 1st, when Morrison Shafroth of Denver assumes his duties
as Assistant General Counsel for the Bureau of Internal Revenue,
— oOo—
7
Draft for Press Release
The President has appointed Morrison Shafroth of
Denver, Colorado, to bo Assistant General Counsel of the
treasury Department for the Bureau of Inters»! Revenue*
The appointment fill« the vacancy caused by the resignation
of Robert H* Jackson to become As si stant Attorney General «
Mr. Shafroth Is a member o f the law flra of Grant,
Kills» Shafroth and foil of Denver and is a eon of the late
John Franklin Shafroth* twice Governor of Colorado and Bolted
States Senator fro® 1915 to 1919*
Be was graduated fro® the Uhlvarsity of Michigan in
1910 and later received the degree o f Doctor of Jurisprudence
fro® the same Institution»
Be has served on the faculties
of the Westminster lew School and the University of Denver
lew School»
During the World W a r he served a t the front as
a Captain in the 541st Field Artillery»
Be m s Democratic
nominee for Attorney Genera! of Colorado in 1920 and for
United States Senator fro® Colorado in 1924«
>**000—
TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Friday, November 20, 1936.
P ress Service
N°* 8-92
Secretary Morgenthau has appointed Arthur H. Kent, of Chicago, Illinois»
to he Assistant Gen®ral Counsel of the Treasury Department, filling the place
made vacant by the recent resignation of Clayton M. Turney.
Mr. Kent has been associated with the legal staff of the Treasury
Department during the last two years and since February of this year he has
been Acting Chief Counsel of the Bureau of Internal Revenue.
Mr, Kent will take over his new duties in the
Treasury Department
about December 1st, when Morrison Shafroth of Denver assumes his duties
as Assistant Ceneral Counsel for the Bureau of Internal Revenue.
•oOoo
- 2 ~
In addition to the statements to which reference is made above, copi
of communications from the Governments of The Netherlands and Switzerland
are made public herewith.
TREASURY DEPARTMENT
1
Washington
FOR RELEASE, MORNING NEWSPAPERS
Tuesday, November 24, 1936.
11/23/36
Press Service
TTn «„os
■
By authority of the President the Secretary of the Treasury announces 1
that as a further step in the direction of international monetary equilibrium^
arrangements have "been mac|e to give effect to the desire of the Governments
of Belgium, The Netherlands and Switzerland to cooperate with the Governments«
of the United States, Great Britain and France in accordance with the principles
of the tripartite declaration of September 25, 1936.
The Belgian Government notified the United States of its adherence to
these principles on September 26*
Similar declarations of adherence have now I
been received from the Governments of The Netherlands and Switzerland.
The Governments of the United States, Great Britain, and France welcome*
the declarations of the Governments of Belgium, Switzerland and The Netherlands
expressing their adherence to the principles stated in the tripartite declare I
tion of September 25.
Arrangements have been made by the United States Treasury for gold
transactions on a reciprocal basis with these three countries.
These arrange
ments are given effect by public statements of the Secretary of the Treasury
which are annexed hereto:
(1) A statement supplementing the statement of the Secretary of the
Treasury dated October 13, 1936, with respect to reciprocal transactions in
gold with certain countries, and withdrawing the statement of January 31, 1934^
relating to the sale of gold for export;
(2) A statement naming the countries of Belgium, The!Ha-therlands"'nnd
Switzerland as complying with the conditions of the statement of October 13
as supplemented by the above statement.
TREASURY
DEPARTM ENT
Washington
FOR RELEASE, MORNING NE7SFAFSRS,
Tuesday, November ¿4, lqafi.
11/23/36
Press Seryice
No. 8-94
Supplementing the announcement-made by him on-Octoter 13, 1936, relati*
to the sale
if
gold for export, the Secretary of the Treasury states that
(hereafter,;;ina until, on twenty-four hours' notice, this statement of intenticj
■x may be revoked or altered) the United States, in addition to sales of gold t o f
T ® exohane y equalization or stabilization funds of foreign countries, will
\
!
’
also sell gold for immediate export to, or earmark for the account of, the
treasuries, or any fiscal agencies acting for or whose acts in this connectJ
are guaranteed by the treasuries, of those countries whose treasuries or
fiscal agencies so acting or guaranteed are likewise offering to sell gold to
the United States, provided such offerings of gold are at such rates and upon
; such ,terms and.-conditions as the Secretary may deem most advantageous to the 1
yPJ"b '
* terest.
The Secretary announces herewith, andjwill hereafter announcj
daily, the names rf the foreign countries complying with the foregoing con
ditions.
All such sales of gold by the United States will be made through
-tho Jaderal Reserve Bank .f New York, as fiscal agent of the United States,
upon the following terms and conditions which the Secretary of the Treasury
deems most advantageous to the public interest:
Sales of gold will be made at $35 per fine ounce, plus
one-quarter per centhandling-charge,. -and sales and earmarking
will be governed by the Regulations issued under the;-Gold Re
serve Act of 1034.
The Secretary further announces that his statement of .January 31,
relating to the sale of gold for-export, is accordingly-withdrawn.
19 3 4 ,
TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS,
Tuesday. November 24. 1936.
11/23/36
Press Service
No. 8-95
The Secretary of the Treasury today named the following additional
countries:
Belgium
The Netherlands
Switzerland
as complying with the condi-ti-ons.--specifi-ed in- his press release of October 131
1936, as supplemented by his press release of November 24, 1936, for the
purchase of gold from the United States for immediate export-.or earmark.
— oOo—
\
\
Ü
\
\
TREASURY DEPART!-,CENT
Washington
Press Service
No. 8-56
FOR RELEASE, MORNING NEWSPAPERS
Tuesday. November'34, 1936.____
11/23/36
'
The Secretary of the Treasury^ynahe^'nublic"’the--Rollowlng^crl7e'Wh~omr
the Swiss Legation, transmitted to the Treasury Department "by the Acting
Secretary of State:
"LEGATION DE SUISSE
Washington, D. C.
November 21, 1^36.
"Sir:
"I have the hon«r to inform you. that I have "been instrucrtedr by my
Government to cvnvey to you the following:
"’The Government of Switzerland has cognizance of the
declarations "by which the Governments of France, Great Britain
and the United States of America have, seen fit to express their
intentions with regard to their monetary policy and adheres to
the general principles stated in their tripartite declaration
of September 25.’
"Accept, Sir, the assurances of my highest consideration.
(Signed) MARC PETER
Minister of Switzerland.
"The Honorable
R. Walton Moore,
Acting Secretary of State,
W a sh in g to n ."
—
0 O0 —
MED
-
4
-
# 3 6 2 , Nov e m b e r
16,12
p . n . ..t o
Paris
so a c t i n g o r g u a r a n t E E d arE l i k E w i s E o f f E r i n g t o
se
I I
g o l d t o thE UnitEd States, p r o v i d E d s u c h -
o f f E r i n g s o f go-id a r e a t s u c h r a t E s and u p o n s u c h
tErms a nd c o n d i t i o n s a s thE S E c r E t a r y n a y deem
m o s t advantageous t o thE p u b l i c i n t E r E s t .
ThE
S E c r E t a r y a n n o u n c e s h e r e w i t h , and w i l l h E r E a f t E r
announcE d a i l y , thE names o f thE f o r E i g n c o u n t r i E S
c o m p l y i n g w i t h thE f o r e g o i n g c o n d i t i o n s .
A ll
s u c h s a l e s o f g o l d b y thE U n i t e d S t a t e s w i l l bE
:aadE t h r o u g h thE P E d E r a l RESErvE Bank o f New
Yo r k , a s f i s c a l agEnt o f thE U n i t e d S t a t E s , u p o n
the f o l l o w i n g t e r n s and c o n d i t i o n s , , w h ic h t h e
S E c r E t a r y o f thE T r e a s u r y deems m o st a d v a n t a g e o u s
t o thE p u b l i c i n t E r E 3 t ' ;
w,SalES of gold will bE made at §35 pEr
finE ouncE, plus onE-quartEr pEr cEnt handling
charge, and salEs and earmarking will bE
govErnEd by thE Regulations issued undEr
thE Gold RESErvE Act of 1934.*
"The S E c r E t a r y f u r t h e r a n n o u n c e s t h a t h i s
sta te m e n t of January
31,
1934,
r e l a t i n g t o thE
salE of g old f o r E xport, i s a c c o r d in g ly w ith d raw n . n
MOORE
ACTING
EAsFLsLMS
fl
IvED
TiLEGRAH SENT
GRAY
November
16,
1 936
12 p«m,
AKEMBASSY
P A R IS
(FRANCE)
462,
' URGENT
For Cochran from the Secretary of the Treasury,
Hold the folloYdng without action until further
Instructions,
Submit to II, Auriol, for his comments, the draft
of a statement to be is sue d by the Treasury Department
which terminates this telegram.
Please urge upon II,
Auriol the Importance of prompt consideration,
I am
also submitting the draft to the British in Washington
for their comment.
It is not to be submitted to the
Belgians, Swiss or Netherlanders until after we havE
heard from the British and French,
If a statement such as is hEre proposed were made
thE prEss might put to
following:
hie
some such question as the
"Since thE Belgian government owns no
gold, Goes this
hie an
that thE Belgian Government is
guaranteeing thE Execution by the National Bank of
Belgium of thE obligations undertaken under tills
arrangement?" If thE accompanying draft is approved
by thE British, F re n c h , and Belgian Governments, I,
intend
MED
- 2 - #462, November 16, 1936 12 p*m.to Paris
intEnd that you shall tliEn inquirE of thE BElgian
Government whEthEr it would bE agrEEablE to it if I
should rEply to a quEstion such as thE forEgoing by
simply saying ify E s %
CominunicatE to M-. Auriol my
intention indieatEd in this paragraph*
Ho tic E that thE significant phrasE in thE nEw
statement is ,for any fiscal agEnciEs acting for or whosE
act3 in this connection arE guaranteed by thE TrEa~
surie s,. *. •' T h a t .would include , of cour s e , thE Bank
of Belgium as indicatEd in thE contents of thE letter
from M# DET.Ian not Ed in your cablegram Ho* 1061, of
OctobEp 28*
That lEtter will be an important itEia in
our filE*
1 fur thE r suggest to thE French and British GovernniEnts that it would bE hElpful if thE Swiss and the
HEtherlandErs would sEnd via thEir Foreign Offices to
thE thrEE governments participating in thE original
tripartite declaration of SEptEmber 25, 1936, a
declaration of adherence to the gEneral principles of
that statement,
similar in spirit to thE statEriEnt issue«
on SeptEmbEr 26, 1936, by thE BElgian government and
communicated on that datE to thE StatE Department and
thE Foreign Offices of the other two governments*
I further suggest that, 24 hours after thE rECEipt
of such a statement from thE Swiss and NethEr landers.
England,
e United States is informed th
of Great Bri
ration wit!
ents
ollabo-
lands
witzerland.
In addition to the statements to which reference is made above, copies
of iks communications from the
Governments of The Netherlands and Switzerland
are made public herewith,
i
i
v.
cr^~y 's^\
No
"^ -* 7 y
T)tr
jjy
■ion of
A
th e
President the
S ecreta ry
of the Treasury announces
that as a further step in the direction of international monetary equilibrium
arrangements have been made to give effect to the desire of the Governments
of Belgium, The Netherlands and Switzerland to co-operate with the Governments
of thp United states, Great Britain and Prance in accordance with the principle
of the^declaration of September 25, 1936*
The Belgian Government notified the United States of its adherence to
;hese principles on September 26. Similar declarations of adherence
:
1
n"" il""‘
r^acLj ass
'have now been received from the
Governments of The Netherlands and Switzerland,
I
The Goverrait of
the Gqyernme{i>s of
Unite^State's-^elcome^ thc-./a&
anà-^reat Britain****
.6u~G. *<SZC Vi“ *.
u
f
p
j
(
Arrangements have been made^for gold transactions on a reciprocal basis
with these three countries. ©3
■t oi- th » United at 1 too 1gy
Jfhese
arrangements are given effect by public statements of the Secretary of the
Treasury which
gje
annexed hereto:
(1) A statement supplementing the statement of the Secretary of the
Treasury dated October 13, 1936, with respect to reciprocal transactions in
gold with certain countries, and withdrawing the statement of January 31, 1934,
relating to the sale of gold for export;
52) A statement naming the countries of Belgium, The Netherlands
and Switzerland as complying with the conditions of the statement of October
13 as supplemented by the above statement.
msssmjm u m m i m
»
lo r o n è o r
SX*
m* w m
Siri»
JMtag upe» IMmfffetM ot th» ItaMwr ef Berilio
iXfair® of tho im k æ tlm ë tM 1 M m itü t o o r to lxtftm Ä
EcoolXeacy o f the
dow larotioa mù& fcjf E$r O w n*-
Miti
nTìm Qmmrmimà
of tl» BMtttâattAft im s
of ito M in t is i» tgr ä
Ite Stoormosit« of
ä
frm m *
Onsat BrLMA a*£ tho tft&Mt Stato« to o a w f i t to
®sp*W M tr iMmtim with regard to tfcoir
peUay «od odl^ro« to th© g « M pri»elp2o© stotod ir,
tha&r triportito^ doolwtio» # Sa^toohor SS# Ä
1
I « m il x y m lt o f th i# o p p M o d ty to ïo ïw to
you# Sir* M «MMW® of flr
M ^ ïm t m m & àm & im *
B#
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fho t o a t t ó d » 8* Mitant B o w
A M L Ó ® 0owtai*y of Stato
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ypgs
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f f »
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w*s# 0« t o Braugel tiouglas*
Charsg» ^ A f f a i r e » **!•
#r t t è
p i ìi»©rabl# 1# Walton f e w
Accingi Seewfei&iy ef Stato
Washington, B*C# -
COFi*
m m i m m m u m
t m m m
w mhingbm*
lío rm b e r Z l0 1336
lio. $778
Sin»
Aotiiig upon imrfcrxietiona of the Mlsiotor of Poreiga
Affsdra of ifo©
1 ÍMm
tí» h am r t© i n f o m Your
Bxoollimcy o f ti» folio®!ng docl&rutic» modo bjr my G o v o m amtc
w7h© Sovonaaont of tí» Hetberliuad« bao eogniói&MS#
of tí» doolaraiion# %
«hich ti» Gowraaont# of Franco,
Qro&t Brltain asid the tfnitod States havo i m
f it t o
expro«* ifcoir iafeontlosi witb rogará to t&eir laonetary
polioy oad adheros t o tho general principies etated i»,
thoir tripartito deelaration of Soptossibor 28»
I «pail r^rsolf of thia opp^rtyid.% to
m am
t©
pou# Sir, tho aesu ranees of ng? M g í w m t oonaidoratian.
s,
w*o#
8* Tan Breugol Bouglas#
Ch&rge d*AffiBires a. i.
of tbo líerfcherlamia,
fho Honorable íU Walten loor#
Actlng Soorotary of State
Washington, B.C.
P||
,
, || H
• | S | i • T| v" : •• „
COPY*
BDYM, H B T H E K m m LBGATIOB
Washington, D.C*,
H ostember 01, 1936*
Bo* 3776
Sir»«*
Acting upon instructions of the Minister of Foreign
Affairs of the Bother land#
1
have the honor to inform Your
I x o e H o n e y of the following declaration made b y m y Governmenti
#jhe Government of the Bother lands has cognizance
of the declarations by Which the Governments of France,
Great Britain and the Baited States have seen fit t o
express their Intention w i t h regard t o their monetary
policy and adheres t o the general principles stated in
their tripartite declaration of September 25, 1936»*
1
avail myself of this opportunity to renew to
you. Sir, the assurances of m y highest consideration*
all
B»
w*s*
0« van Brouge 1 Douglas*
Charge d ’Affaires a*i*
of the Betherlands*
Yhe Honorable E« Walton Moore
Acting Secretary of State
Washington*
1
C O P I.
ROYAL HETHERLAND LEGATION
Washington, D.C.,
November 21, 1936*
No. 3775
Sir:Acting upon instructions of the Minister of Foreign
Affairs of the Netherlands I have the honor to inform Your
Excellency of the follovdng declaration made by my Govern
ments
"The Government of the Netherlands has cognizance
of the declarations by which the Governments of France,
Great Britain and the United States have seen fit to
express their intention with regard to their monetary
policy and adheres to the general principles stated in
their tripartite declaration of September 25, 1936."
I avail myself of this opportunity to renew to
you, Sir, the assurances of my highest consideration.
b,
w.s.
C. van Breugel Douglas.
Charge d*Affaires a©i*
of the Netherlands.
The Honorable R. Walton Moore
Acting Secretary of State
Washington, D.C.
0/
f ' f ?
g
o S’ 1
UCOATZON BE SUISSE
Washington, B.G*
Eovemb«r El, 1956.
Sir*
I have the honor to inform you that I have been
instructed by sy Government to convoy to you the followingt
•the Government of Swltserlaad he» eogniw&nce
of the declaret ion» ty which the Government# of
Frano», Great Britain and the United State# of
America have Caen fit to exprese their intention#
with regard to their nonet».asy policy and adhere#
to 'the general principle® stated in their tri
partite declaration of September it.*
Accept, Sir, the assurance# of t»y highest consideration.
(S)
MáBC PETER
Minister of Switzerland.
The Honorable
K. Walton Moore,
Acting Secretary of State,
Washington.
Q
?
*
iJWITIOi DE SUISSE
Washington, D.C#
B©veaber 21, 1936«
Sir*
I have the honor to inform you that I have been
Instructed by w
Government to convey to you the following *
*fhe Government of Switzerland has cognizance
of the declarations fcy which the Government® of
France, Great Britain and the United States of
Anerica have seen fit to express their intentions
with regard to their monetary policy and adheres
to the general principle® stated in their tri
partite declaration of September IS.*
Accept, Sir, the assurances of ay highest consideration.
(s)
mm mm
Minister of Switzerland.
The Honorable
K, Walton Moore,
Acting Secretary of State,
Washington.
LIG&riOH D1 SUISSE
Washington, D.C#
November SI, 1956*
Sirs
I have the honor to Inform you that I have been
Instructed by qy Government to convey to you the following i
»The Government of Switzerland has cognizance
of the declarations by which the Governments of
France, Great Britain and the United States of
America have seen fit to express their intentions
with regard to their monetary policy and adheres
to the general principles stated in their tri
partite declaration of September 16.»
Accept, Sir, the assurances of wy highest consideration.
(S)
MARC FFTER
Minister of Switzerland.
The Honorable
R* Walton Moore,
Acting Secretaiy of State,
Washington*
C
O
?
r
i m i T I Q N BE SUISSE
Washington, B*C*
1
Bovember 21, 1936*
Sir*
I have the honor to inform you that I have been
instructed by cy Government to convey to you the following t
*!h© Government of Switzerland has cognizance
of the declarations by which the Gov a m m o n t a of
France, Great Britain and the United States of
America have seen fit to express their intentions
with regard to their monetary policy and adheres
to the general principles stated in their tri
partite declaration of September 26.*
Accept, Sir, the assurances of isy highest consideration.
(S)
MARC PITIE
Minister of Switzerland*
The Honorable
K, Walton Moore,
Acting Secreta jy of State,
Washington*
I
C O P Y
LEGAI IOH DE SUISSE
Washington, D.C.
■ f'1 /;
Hoveaber 21, 1936.
S tri
X have the honor to inform you that I have been
instructed by sy Government to convey to you the following*
*The Government of Switzerland has cognizance
of the declarations by which the Governments of
France, Great Britain and the United States of
America have Seen fit to express their intentions
with regard to their monetary policy and adheres
to the general principles stated in their tri
partite declaration of September 25.*
Accept, Sir, the assurances of oy highest consideration.
(S)
MARC PETER
Minister of Switzerland#
The Honorable
R* Walton Moore,
Acting Secretaiy of State,
Washington#
c
0
P
Y
LEGATION DE SUISSE
Washington, D.C.
November 21, 1936.
Y>
Sir:
I have the honor to inform you that I have been
instructed by ny Government to convey to you the following:
"The Government of Switzerland has cognizance
of the declarations by which the Governments of
France, Great Britain and the United States of
America have seen fit to express their intentions
with regard to their monetaiy policy and adheres
to the general principles stated in their tri
partite declaration of September 25."
Accept, Sir, the assurances of ny highest consideration.
(S)
MARC PETER
Minister of Switzerland.
The Honorable
R. Walton Moore,
Acting Secretaiy of State,
Washington.
mmmrnt nm&mwmt
WASBîKftÜg
$erriee<
tbo Stortiti? of tbt Tf^tury tota? a**td tins folX«*ris£ aââltlostl taoaiiittt
'Tiui
^»fifing; with ih» oc&AltltMi êpmtiîmé i» &&* p$mm rmlm.m of 0et6b«r 13»
XfSá» ss « ^ txIcohhsM. by bl« $?$## r®Xm m of Htv&abtr
# 1936» for ths fir*
ob«to of gold from %bo efelidi ©festig for testáisi© cohort or toxmrk*
TREASURY DEPARTMENT
Washington
FOR RELEASE, M6RNING NEWSPAPERS,
Tuesday. November 24, 1936.
Press Service
8-97
1 1 /23/35
The Secretary of the Treasury makes public the following no-te from-'the
Royal Netherland
Legation, transmitted to the Treasury Department by the
Acting Secretary of State:
"ROYAL NETHERLAND LEGATION
Washington, D. 0»
No. 3775
November 21, 1936.
’Sir :■
"Acting upon in structions "of''the Minister of Foreign Affairs of the
Netherlands I have the honor to inform Your Excellency of the following
declaration made by my Government:
"* The Government of the Netherlands has cognizance of the
declarations by which the Governments of France, Great Britain
and the United States have seen fit. to express their intention
with regard to their monetary policy and adheres to the general
principles stated in their tripartite declaration of September 25,
1936.»
"I avail myself of thi s .opp*rduni ty to renew to you, Sir, -the of
—c ^ u x s A d e r a r th o n v
"^(Signed) Gi~VanuBreugelJDouglas.
Charge d!Affaires a.i.
of the Netherlands.
"The Honorable R, Walton Moore,
Acting Secretary of State,
Washington, D. 0."
.
v—
0 O 0—
i
S»ju
K.
THE S E C R E T A R Y O F THE T R E A S U R Y
W ASHINGTON
tress
¿Spr
Supplementing
1936,
relating
the Treasury
to t h e
states
h o u r s f notice,
tered)
will
sell
of,
the
acts
those
countries
guaranteed
provided
are
such
and
plying
immediate
offerings
as
of gold
interest.
foregoing
of N e w ïork,
as
lowing
and
terms
Sales
conditions
ounce,
and
plus
sales
to
sell gold
will
the
for
so a c t i n g
to t h e U n i t e d
rates
announces
and u p o n
such
of
or
Stat e s ,
such
advantageous
herewith,
and
foreign countries
All
or
the treasuries,
deem most
of the
for
sales
m
will
com
1
of gold by
through the Federal Reserve B a n k
the U n i t e d
public
States,
earmarking
upon the
of
fol
t he T r e a s u r y
interest:
b e m a d e at $ 3 5
one-quarter
and
such
to t h e
acting
agencies
which the Secretary
to t h e
of gold
fiscal
conditions.
of
by
or a l
foreign countries,
agencies
or
a r e at
gold
or e a r m a r k
guaranteed
the names
fiscal agent
deems most advantageous
fiscal
Secretary
will be made
of
to,
S e c r e t a r y may
The
announce daily,
the United S t a t e s
are
offering
the
export
any
treasuries
likewise
with the
or
connection
whose
sales of
s t abilization funds
of
on twen t y - f o u r
of intention may be revoked
to
13,
the Secretary
and until,
in a d d i t i o n
treasuries,
conditions
to t h e p u b l i c
hereafter
f or
him on Oc t o b e r
for export,
(hereafter,
States,
in this
gold
statement
gold
whose
terms
sale of
e q u a l i z a t i o n or
also
account
a n n o u n c e m e n t m a d e by
that
this
the U n i t e d
exchange
the
service
per
per
fine
cent h a n d l i n g
will be
charge,
g o v e r n e d by
the
xm
Regulations
The Secretary
January
31,
accordingly
1934,
issued
further
relating
under
the G o l d
announces
to t h e
sale of
withdrawn.
APPROVED:
.
that
i / 7
The White House
Noverab e r /^r
1936
I
Reserve Act of
his
gold
statement
for
export,
193-4.
of
is
<J
TREASURY DEPARTMENT
Washington
MEMORANDUM FOR THE PRESS
November 23, 1936.
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFEIGES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended November 20, 1936:
Philadelphia...... ... .... ...........
813,809,37 fine ounces
h
h
San Erancisco.... ......... ..........
368,466.42
»
h
Denver...... ...... ..... .....................
4,684.42
h
h
1,186,960.21
Total for week ended November 20, 1936... ......
h
it
Total receipts through November 20, 1936.........113,679,762.25
SILVER .TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 20, 1936:
Philadelphia ....................... .
New York ............ .....................
San Francisco ..............................
Denver ........ ......... ...................
New Orl eans................. '....*.... .....
Seattle ......................... ........
Total for week ended November 20, 1936 ........
Total receipts through November 20, 1936 .......
it
it
81 00
H 2
989 239.27
I
I
I
I
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES:
Week ended November 20, 1936:
Imports
- - Philadelphia... .... ........
New York
..........
$15,885,100.00
San Francisco .....
1,493,452.88
Denver. ............___
17,877.63
New Orleans ..........
253.22
Seattle ....................
....
Total for week ended November 20...$17,396,683,73
— oOo—
Secondary
$ 84,934.71
188,500.00
23,611.92
10,852.33
19,116.44
15,198.36
$342,213.76
New
Domestic
$
475.16
301,600.00
1,650,331.52
625,854.65
125[82
571,521.38
$3,149,908.56
TREASURY DEPARTMENT
WASHINGTON
OFFICE O F
D IR E C T O R O F T H E M IN T
November 21, 1956.
IN REPLYING QUOTE INITIALS
REPORT OF THE RECEIPTS OP GOLD AND SILVER AT TEE MINTS AND
ASSAY OFFICES FOR THE WRRK ENDING NOVEMBER 20. 1956.
GOLD
Imports
Philadelphia
New York
San Francisco
Denver
Nerz Orleans
Seattle
Total
#15,885,100.00
1,495,452.88
17,877.65
255.22
17,596,685.75
Secondary
New Domestic
#84,954.71
188,500.00
25,611.92
10.852.55
19,116.44
15.198.56
542,215.76
#475.16
501,600.00
1,650,551.52
625,854.65
125.82
571,521.58
5,149,908.55
GOLD RECAPITULATION
I m p o r t s ----------------- Secondary - - - - - - - - New Domestic - - - - - - - Total - - - --------Total Receipts to Date (Approx.) - - - -
- - #17,596,685.75
542,215.76
- - 5,149,908.55
• - 20,888,806.02
#4,185,551,299.24
SILVER
Executive Proclamation of 13-31-33(as amended)
Pine Ounces (New mined domestic)
Philadelphia
San Francisco
Denver
Total
815,809.57
568,466.42
4,684.42
1,186,960.21
1 1 3 , 6 7 9 762.25 *
Total Receipts to Date (Approx.)
Executive Proclemation of(Nationalized)
Bullion & Warehouse Certificates - Fine Ounces
Philadelphia _ _ _ _ _ _ _ _ _ _ _ _
_
New York _____________ ____ ___ m
__
San Fr a n c i s c o
Denver
- ____
_ _____ __ ____
___ ____ __ ____ __
New Orleans - _ _ _ _ _ _ _ _ _
Seattle - __ _ ______________
_
T o t a l ----- ------- ---------------Total R e c e i p t s to D a t e ------------
GOLD COIN
Estimated.
Domestic
Foreign
Total
81 00
112,989,259.27
_
"5T
TREASURY DEPARTMENT
WASHINGTON
FOR RELEASE, MORNING NEWSPAPERS.
Tasadar. November 24. 1936.
Press Service
S' ^ iJ\ c ?
11/23/36
Secretary of the Treasury Morgenthau announced
last evening that the tenders for 150,000,000, or thereabouts,
of 273-day Treasury bills, dated November 25, 1936, and matur
ing August 25, 1937, which were offered on November 20, were
opened at the Federal Keserve banks on November 23*
The total amount applied for was 1159,737,000,
of which |50,000,000 was accepted*
The entire amount ac
cepted was bid at a price of 99*936, equivalent to a rate
of about 0.084 percent per annum, on a bank discount basis.
TREASURY DEPARTMENT
Washington
Tress Service
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday. November 34. 1936«____
•^0# 8-98
11/23/36
Secretary of the Treasury Morgenthau announced la s t evening th at the
tenders fo r $50,000,000, or thereabouts, of 273-day Treasury h i l l s , dated
November 25, 1936, and maturing August 25, 1937, which were offered on November 20,
were opened at the Federal Reserve banks on Novemoer 23*
The to ta l amount applied for was $159,737,000, of which $50,000,000 was
accepted«!
The en tire amount accepted was bid at a p rice of 99.936, equivalent
to a ra te of about 0,084 prcent per annum, on a bank discount b a sis.
—oOo—
TREASURY DEPARTMENT
Washington
MEMORANDUM EQR THE PRESS
November 30, 1936.
RECEIPTS OE SILVER BY THE MINTS AND ASSAY OFFICES:
(Under Executive Proclamation of December 21, 1933) as amended
Week ended November 27, 1936:
Philadelphia.................
San Francisco....................
Denver............... .......
Total for week ended November 27, 1936...... ....
Total receipts through November 27, 1936........ .
326,613.61 fine ounce
192,650.90 "
«
9.765.24 «
»
529 029.75
114,208,792.00
SILVER TRANSFERRED TO UNITED STATES:
(Under Executive Proclamation of August 9, 1934)
Week ended November 27, 1936:
Philadelphia............................
New York....................
San Francisco........................
Denver.............. .
New Orleans ... ;................
Seattle..............
Total for week ended November 27, 1936..... .
Total receipts through November 27, 1936......
192.00 fine ounce!
42.00
»
»
234.00
112,989,473.27
RECEIPTS OF COLD BY THE MINTS AND ASSAY OFFICES:
New
Week ended November 27, 1936:
Imports______ Seco ndary
Domestic
Philadelphia................. .
12,602.00 $ 77,036.30 f
532.4?
New Tork......................!!!!!!. i2,75oiooo!0o
88,600.00
104,700.OC
San Francisco
293,831.66
19,307.57 2,098,933.5C
Denver....
27,402.64
8,990.61
624,470.5!
New Orleans,
263.18
20,599.38
513.9(
- Seattle....
., ,
,
-- .•---- —
8.858.53
91,831.6;
Total for week ended November 27, 1936;..$13,084,099.48 $223,392.39 $2,920,982.lt
ooOoo
TESàSURT i m
wks&tmfm
m
FOR H U M U S , M O R T O © HSbSRàFXlS,
Tuesto* Dceaabcr 1* 1956.
11/30A i
m m
Service
Seoret&ry of thè Treasury Morgenthau amnouneed last cren lag that thè tendere
t o tee series of Treasury bilia, to be dated Decomber 8, 1936, «hich nere offarad
oa Koveaber 2?, «ere opened at thè Federai Reserve banks on Rovaaber 30, 1936.
fendere «ere invited for thè two series to thè aggregete amount of
#100,000,000, or thereabouts, and ♦266,541,000 eoe applied for, of whioh
♦100,101,000 «ae aecepted.
The detalls of thè t«o seriss are as follovss
104-I&Y fESASURY BILL3. MàYOlg© M1RCH 16. 1937
Ibr thie eerlee, «hich «as for #80,000,000, or thereabout e, thè total amount
applied for «aa #138,444,000, of whioh #80,044,000 «as aocepted.
The aecepted
bidè ranged in priee from par to 99.936, thè lattar belng equivalete to a rate
of atout 0*048 percent per anno», on a baak discount baeie.
amount bid far at thè lattar priee «a# aocepted*
Only part of thè
The averagc priee ©f Treasury
bilie of thie eerlee to be issued le 99*989 and thè average rate le atout 0*040
parcant per annua on a tank discount baeie*
393-OhY TRI&SUHY BILLS. MàTORIRG SKFTIMIR 1. 1937
Far thie eerlee, «hi eh «ae far #30,000,000, or thereabout e, tha total aaount
applied fer «ae #138,099,000, of whieh #80,039,000 ime aecepted*
Exoept for one
bid of #3,000, thè aecepted bidè ranged in priee frena 99*940, equlvalent to a
rata ©f atout 0.099 percent per annua, to 99.929, equlvalent to a rate of atout
0.096 pereent per annua, on a tank discount baste.
for at tha lattar priee «ae aecepted.
Only part of tha aaount bid
The average priee of Treasury bilie of
thie eerlee to be leeued le 99.933 and tha average rate le atout 0.088 pereent
per annua on a tank discount baste*
TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, December 1, 1936.____
11/30/36
Press Service
No. 8 - 9 9
Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to he dated December 2, 1936, which were offered
on November 27, were opened at the Federal Reserve hanks on Noyemher 30, 1936.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $266,541,000 was applied for, of which
$100,101,000 was accepted.
The details of the two series are as follows:
104-DAY TREASURY BILLS, MATURING MARCH 16, 1937
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $138,444,000, of which $50,044,000 was accepted.
The accepted bids
ranged in price from par to 99.986, the latter being equivalent to a rate of about
0.048 percent per annum, on a bank discount basis,
at the latter price was accepted.,
'fcnly part of the amount bid for
The average price of Treasury bills of this
series to be issued is 99,989 and the average rate is about 0..040 percent per
annum on a bank discount basis..
273-DAY TREASURY BILLS, MATURING SEPTEMBER 1., 1937
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $128,097,000, of which $50,057,000 was accepted.
Except for one
bid of $5,000, the accepted bids ranged in price from 997940, equivalent to a rate
of about 0.079 percent per annum, to 99.927, equivalent to a rate of about 0.096
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 l?ills of this
series to be issued is 99,933 and the average rate is about 0.Ó88 percent per
annum on a bank discount basis.
— >o0o—
@FedFRASER