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J UN 141972
t r e a s u r y departm ent

i., # 3 7 - í á

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establishments, and mosquito control;

public health education,

including home conferences, public lectures, newspaper articles,
moving pictures, literature, exhibits, and instruction in schools,

J

2

malaria, and other diseases;

addition of divisions for the

promotion of special activities in fields such as industrial
hygiene, mental hygiene, public health nursing, public health
education and nutrition;
facilities;

addition of public health laboratory

strengthening divisions of public health engineer

ing in the promotion of environmental sanitation, including
the supervision of water supplies, excreta disposal,

sanitary

control of milk production, and mosquito control*
Local JÌealth EÌepartments, through Federal-State cooper
ation and funds, have been aided in developing particularly
the following activities;

Communicable disease control, in

cluding home visits to cases, immunization, maintenance of
diagnostic clinics for tuberculosis, and facilities for treat
ment of venereal diseases among the indigent;

maternity service,

including home visits to expectant mothers and the maintenance
of maternity clinics for the poor;

infant and preschool health

service, including the maintenance of clinics for examination
and advice on the care of infants;

school hygiene, including

inspection and examination of school children, dental health
work, and health education;
communicable diseases;

diagnostic laboratory service for

environmental sanitation, including

protection of water supplies, safeguarding excreta disposal,
sanitary control of milk supplies, sanitation of food-handling

FOR RELEASE, AFTERNOON NEWSPAPERS
Tuesday, April 6, 1937.
4/ 5/ 3 7 .

/6-6

A record year of progress in public health improvement,

accelerated by the program developed under the Social Security
Act, will be measured here tomorrow when state and territorial
health officers of the nation assemble in the United States
Public Health Service Auditorium for their thirty-fifth con
ference with the Surgeon General.
Assistant Secretary of the Treasury Josephine Roche,
who will open the two-day meeting, said today that "probably
at no previous meeting have Federal and State health officers
been able to measure so much progress in a y e a r ’s time in the
great field of human conservation.11
The health program provided for in the Social Security
legislation is being carried out under Miss Roche’s direction.
"Certainly," she said today,

"there has never been a

stronger sense of obligation and responsibility for further
advances in this field, as the health officers view both gains
made and public health needs still challenging them."
Among the many State health A p a r t m e n t activities which
the Social Security program has aided are:

Addition of special

facilities for the control of syphilis, tuberculosis,

cancer,

TREASURY DEPARTMENT
Washington

9

FOR RELEASE, AFTERNOON NEWSPAPERS,
I Tuesday, April 6 , 1937,_________
4-5-37.

s

Press Service
No•10-0

A record year of progress in public health improvement, accelerated by the

I program developed under the Social Security Act, will he measured here tomorrow when
I state and territorial health officers of the nation assemble in the United States

1

Public Health Service Auditorium for their thirty-fifth conference with the Surgeon
I General.
Assistant Secretary of the Treasury Josephine Roche, who will open the two-day
I meeting, said today that ’’probably at no previous meeting have Federal and. State
I health officers been able to measure so much progress in a year’s time in the great
field of human conservation.”

f
The health program provided for in the Social Security legislation is being

I
I carried out under Miss Roche’s direction.

m

’’Certainly,” she said today, ’’there has never been a stronger sense of obligation
I and responsibility for further advances in this field, as the health officers view

I both gains made and. public health needs still challenging them.”
Among the many State health department activities which the Social Security

I program

has aided are:

Addition of special facilities for the control of syphilis,

I tuberculosis, cancer, malaria, and other diseases; addition of divisions for the
I promotion of special activities in fields such as industrial hygiene,montal hygiene,
a public health nursing, public health education and nutrition; addition of public
■ health laboratory facilities; strengthening divisions of public health engineering in
I the promotion of environmental sanitation, including the supervision of water supplies
■ excreta disposal, sanitary control of milk production, and mosquito control.

Local health departments, through Federal-State cooperation arûifunds, have been
aided in developing particularly the following activitiesi

Communicable disease

control, including heme visits to cases, immunization, maintenance cf diagnostic
clinics, for tuberculosis ; and facilities for treatment of venereal diseases among
the indigent; maternity service, including home visits to expectant mothers and the
maintenance of maternity clinics for the poor; infant and preschool health service,
including the maintenance cf clinics for examination and advice cn the care cf
infants; school hygiene, including inspection and examination cf school children,
dental health work, and health education; diagnostic laboratory service for communi
cable diseases; environmental sanitation, including protection cf water supplies,
safeguarding excreta disposal, sanitary centre! cf milk supplies, sanitation of
food-handling establishments, and mosquito control; public health education,
including home conferences, public lectures, newspaper articles, moving pictures,
literature, exhibits and instruction in schools*
ooOoc

fmmmt DmmssT
Washington
Press Service

FOR RILSASS, H O M I N G NfHSPAPBHS
Tuesday. April 6. 1957«

to-/

Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury bills, to be dated April f, 1957, which were offered on
April S, were opened at the Federal Reserve banks on April §*
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $239,435,000 was applied for, of whieh
$100,081,000 was accepted.

The details of the two series are as follows:

72-BAT TRSASORY BILLS. MATURING TOSHS 18» 1937
For this series, which was for #30,000,000, or thereabouts, the total amount

OH H
applied for was $79,830,000, of which $30,003,000 was accepted.

The accepted bids

ranged in price from 99.930, equivalent to a rate of 0.E5Q percent per annum, to
99.870, equivalent to a rate of 0.630 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was aeesptsd.

Ths average

price of Tree miry bills of this series to be issued is 99.897 and the average
rate is about 0*515. percent per annum on a bank discount basis.
875-BAY TREASURY BILLS. MATURING M U A I T Y 5. 1938
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $159,783,000, of which #50,049,000 was accepted.

Except for one

bid of $5,000, the accepted bids ranged in price fro* 99.546, equivalent to a
rate of about 0.599 percent per annum, to 99.469, equivalent to a rate of about
0.700 percent per annum, on a bank discount basis«
for at the latter price was accepted.

Only part of the amount bid

The average price of Treasury bills of

this series to be Issued is 99.499 and the average rate Is about 0.661 percent
per annum on a bank discount basis.

TREASURY DEPARTMENT
Washington

EOR RELEASE, MORNING NEWSPAPERS,
Tuesday, April 6 , 1937.
_____
4/5/37

Press Service
N o . 10-1

Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury bills, to be dated April 7, 1937, which were offered on
April 2, were opened at the Federal Reserve banks on April 5,
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $239,433,000 was applied for, of which
$100,093,000 was accepted.

The details of the two series are as follows *
72-DAY TREASURY BILLS, MATURING'JUNE 18. 1937.

For this series,, which was for $50,000,000, or thereabouts, the tctal amount
applied for was $79,650,000, of which $50,044,000 was accepted.

The accepted bids

ranged in price from 99,950,. equivalent to a rate of 0.250 percent per annum, to
99.870, equivalent to a rate of 0.650 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter phice was accepted.

The average

price of Treasury bills of this series to be issued is 99.897 and the average
rate is about 0.513 percent per annum on a bank discount basis.
273-DAY TREASURY BILLS, MATURING JANUARY 5. 1938.
For this series, Which was for $50,000,000, or thereabouts, the total amount
applied for was $159,783,000, of which $50,049,000 was accepted.

Except for one

bid of $5,000, the accepted bids ranged in price from 99.546, equivalent to a
rate of about 0.599 percent per annum, to 99.469, equivalent to a rate of about
0.700 percent per annum, on a bank discount basis*
for at the latter price was accepted.

Only part of the amount bid

The average price cf Treasury bills of

this series to be issued is 99.499 and the average rate is about 0.661 percent
per annum on a bank discount basis.

3 -

P

IMPORTS OF DOUGLAS FIR AND WESTERN HEMLOCK UNDER THE QUOTA
PROVISIONS OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to March 27, 1937
(Preliminary Figures)

Customs District

: Sawed Timber and Lumber Not Specially Provided For
* Mixed Fir ? Total Fir
Douglas
? Western
: & Hemlock : & Hemlock
:
Fir
: Hemlock
* (Bd.Ft.)
Î
(Bd.Ft.) ? (Bd.Ft.) \ (Bd.Ft.)
11,179,569

1,618,599

3 f068,291

15,866,459
6.3%

2,930

-

-

2,930

230,809

-

50,008

280,817

1,862,976

325,781

-

2,188,757

878,194

598,447

-

1,476,641

Maine & N. H.

232

-

-

232

Massachusetts

931,602

616,011

-

1,547,613

Michigan

-

48,360

-

48,360

New York

5,034,126

-

3,018,283

8,052,409

54,642

-

-

54,642

272,458

-

-

272,458

1,911,600

30,000

—

1,941,600

TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior

St* Lawrence
Vermont
Washington

a.

IMPORTATIONS OF CATTLE, CREAM AND CERTIFIED SEED POTATOES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of March 27, 1937

Customs District

aauucixj x .V moi. vu *t9 x»vr
CATTLE
: CATTLE 700# : DAIRY COWS •
UNDER 175# :
OR MORE
: 7Ó0# OR MORE : CREAM
(Head)
: (Gal.)
(Head)
:
(Head)
:

TOTAL IMPORTS
Per Cent of Quota

16,216
31.2$

61,499
39.5$

1,285
6.4$

FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawaii
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada

«
3,100
784
«
42
1
251
100
11,430
mm
97
134
44
157983----

9,994
747
3,487
246
•
11
73
2,016
24,962
349
1,217
427
294
240
97
3,334
47,493

22
m
•
104
me
10
m
mm
•
144
786
219
1,285

2,916
6,902
1,917
2,271
14,006

•
—

FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

135
m
98
233

FROM OTHER COUNTRIES
Puerto Rico

:Dee. 1,1936 to
eixraJ» e « ff JLWI\
sWHITE OR IRISH
JSEED POTATOES
:
(Pounds)

15,063
1.0$

3
6
52
“
•
mm
mm
mm
—
6
14,909
•
—
14,976

M»

mm
36,000
m
*
m
2,000
1,961,385
244,950 i
1,023,647
36,000 i
*
•
15,392,494
394,050
36,000
3,907,626
39,200
23,073,352

m
m

mm
•*

87
"

(Prepared by

23,073,352
51.3$

fies and ReseapeïfX Bureau of Customs)

Jf
*"* I

m

/O

The Commissioner of Customs today announced preliminary
figures for imports of commodities under the quota provisions of
the Canadian Trade Agreement, as of March 27, 1937, and the
percentage that such imports bear to the totals allowable under
the quota provisions, as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

APR 7 -1937

UR. SCHWARZ
(Room 289, Treasury Department)
FROM MISS HENRY:
There are attached two tabulations for immediate release
showing preliminary figures for imports of commodities under the
quota provisions of the Canadian Trade .Agreement, as of March
27, 1937.
When the release has been mimeographed, please have 115
copies forwarded to me at Room 415, Washington Building.

TREASURY DEPARTMENT
Washington
FOR.RELEASE, MORNING NEWSPAPERS,
Thursday, April 8 , 1937,
_____
4-7-37.

Press Service
N o . 10-2

The Commissioner of Customs today announced preliminary figures for
imports of commodities under the quota provisions of the Canadian Trade Agreement,
as of March 27, 1937, and the percentage that such imports hear to the totals
allowable under the quota provisions, as follows:'

- 2 -

IMPORTATIONS OP CATTLE, CREAM AND CERTIFIED SEED POTATOES
UNDER THE QUOTA PROVISIONS OP THE CANADIAN TRADE AGREEMENT
Preliminary Pigures as of March 27, 1937
1
:Dec. 1,1936 to
January 1 to March 27, 1937
:Mar./ 27, 1937
CATTLE
CATTLE 700# : DAIRY COWS
:WHITE OR IRISH
:UNDER 175#
OR MORE
:700# OR MORE: CREAM.:SEED POTATOES
: (Head)
(Head)
(Head)
: (Gal.):
(Pounds)
i

I Customs District

I TOTAL IMPORTS
Per Cent of Quota
I FROM CANADA
Alaska
Buffalo
Chicago
L Dakota
Duluth & Superior
Hawaii
Maine & N. H.
H
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
■ FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
■ FROM OTHER COUNTRIES
0 Puerto Rico

16,216
31.2$

61,499
39.5$

3,100
784
—
—
42
—
1
251
100
11,430
m
97
134
—
44
15,983

~
9,994
747
3,487
245
11
73
—
2,016
24,962
349
1,217
427
294
240
97
—'
3,334
47,493

135
98
• 233

2,916
6,902
1,917
2,271
14,006

1,285
6.4#

—
22
**
104
ft
10
—

15,063
1.0$

3
6
52
—

~
—

—

23,073,352
51.3$

36,000
—
—
2,000
1,961,385
244,950
1,023,647
36,000
—
—
15,392,494
—
394,050
36,000

144
786

6
14,909

219
1,285

14,976

3,907,626
39,200
23,073,352

_
r-

_
—

~

-

87

-

-

&

-

IMPORTS OP DOUGLAS PIR .41© WESTERN HEMLOCK UNDER THE QUOTA
PROVISIONS OP THE CANADIAN TRADE AGREEMENT
During the Period January 1 to March. 27, 1937
(Preliminary Pigures)

Customs District

TOTAL IMPORTS
Per Cent of Quota

:
:
:

Sawed Timber and Lumber Not Specially Provided Por
; Mixed Pir : Total Pir
Douglas
s' Western
: & Hemlock : & Hemlock
Pir
r Hemlock
(Bd.Pt.)
: (Bd.ft.) : (Bd.ft.).. : ( Bd.Pt.)

11* 179,569

1,618,599

PROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior

3,068,291

15,866.459
6.3$

}
2,930

-

-

2,930

230,809

-

50,008

280,817

1,862,976

325,781

-

2*188,757

878,194

598,447

-

1,476,641
232

Maine & N* H*

232

Massachusetts

931,602

616,011

-

1,547,613

Mi chigan

-

48 ,.360

-

48,360

New York

5,034,136

-

3,018,283

8,052,409

54,642

-

-

54,642

-

272,458

St. Lawrence
Vermont
Washington

-

272,4 58
1,911,600

30,000

-

-

1,9 41,600

OFFICE OF THE COMMISSIONER OF CUSTOMS

St a

MR, SCHWARZ
(Room 289 - Treasury Department )
FROM MISS HENRY:
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, as of March 27, 1937,
When this tabulation has been mimeographed, kindly have 80
copies forwarded to me at Room 415, Washington Building,

>IMPORTS OF COMMODITIES FROM THE PHILIPPINES UNDER QUOTA
PROVISIONS OF PHILIPPINE INDEPENDENCE ACT AND CORDAGE ACT OF 1935
Preliminary Figures, as of March 27, 1937

:
Customs District

TOTAL IMPORTS
Per Cent of Quota
Chicago
Galveston
Hawaii
Los Angeles
Maine and N. H.
Maryland
Massachusetts
Michigan
Minnesota
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St, Lawrence
St. Louis
San Antonio
San Francisco
Virginia
Washington
Wisconsin

January 1 to March 27, 1937
REFINED
: UNREFINED
: COCONUT OIL :
SUGAR
:
SUGAR
:
(Pounds)
: (Pounds ) :
(Pounds)
74,287,771
16 .6$

12,547,031
11*2#

351,733,622
19.6$

.

-

-

-

-

669,700
10,398,410
-

13,656,924
42,235,387
->
560,000
«

564,580
6,202,770
•*

6,330,351
«
-

-

•
1,531,515
•
-

w*
984,188
3,700,977

-

-

24,587,412
«
-

75,253,797
122,572,075
*
115,906,845
«
13,413,493
**

: May 1, 1936 to
: Mar. 27, 1937
:
CORDAGE
;
(Pounds)
5,411,697
90*2$
442,160
35,942
532,982
: „503,496
4,530
•>

30,496
6,251
66,221
36,294
1,696,333
90,857
188,517
5,564
182,031
13,615
1,837
101,767
39,130
1,090,279
17,677
237,721
87,997

(Prepared by Division of Statistics and Research, Bureau of Customs)

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, during the period January 1 to March 27, 1937, and
under the Cordage Act of 1935, during’the period May 1, 1936, to
March 27, 1937, also the percentages that such imports bear to the
totals allowable under the quotas, as follows:

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday, April 8 . ,1937._____ _
4-7-37.,

Press Service
No.'10-3

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, during the period January
1 to March 27, 1937, and under the Cordage Act of 1935, during the period May 1,
1936, to March 27, 1937, also the percentages that such imports hear to the totals
allowable under the quotas, as follows: •

CUSTOMS DISTRICT
.-■11 : :
TOTAL IMPORTS
Per Cent of Quota
Chicago
Galveston
Hawai i
Los Angeles
Maine & N.ÏÏ.
Maryland
Mas sachus e11 s
Michigan
Minnesota
New Orleans
New York
Ohio
Oregon
Philadelphia
Puerto Rico
Rhode Island
St. Lawrence
St. Loui s
San Antonio
San Francisco
Virginia
Washington
Wisconsin

January 1 to March 27, 1937
REFINED
UNREFINED
CQCCNUT OIL V . .^SUGAR *
SUGAR
..(POUNDS).
(Pounds)
(Pounds)
74,287,771'
16,6#

May 1, 1936 to
March 27, 1937
CORDAGE
(Pounds)

12,547,031
351,733,622 5,4li,697
1 1 .2 ^ ;_____ 19»,6j _____ 90.2#
442,160
35,942
532,982
502,496
4,530

6,330,251
669,700
10,398,410

34,587,412

13,656,924
42,235,387

75,253,797
122,572,075

30,496
6,2.51
66,221

1,531,515
115,906,845

560,000

564,580
S,202,770

984,188
3,700,977

ooOoo

13,413,493

36,294
1,696,333
90,857
188,517
5,564
182,031
13,615
1,837
101,767
39,130
1,090,279
17,677
237,721
87,997

and in Washington to agree on certain principles and policies
regarding the consultation service as it pertains to personnel
practices and nursing programs; an exchange of itineraries and
frequent individual conferences with regard to nursing consultation
visits to the States; interdepartmental nursing committees working
out suggested standards for various public health nursing practices,
programs and reports; regional conferences for the State public
health nursing supervisors under the joint auspices of the Children’s
Bureau and the Public Health Service; a rearrangement of the nursing
districts of the Children’s Bureau to coincide with the districts of
the Public Health Service; and joint advisory service to the Civil
Service Commission on evaluating public health nursing qualifications.
”1 need not stress to this group the fact that what has been
done is only a bare beginning of what a country, committed, as ours
is and always has been, to human rights and human values as its
foremost concern, must do if it is to make good on its'commitments. ”

>

courses made possible under the Act's provisions.

All these and

numerous other developments indicate a first year not only of constructive
results, but what is equally important, one revealing an aroused and
intelligent public attitude toward the nation's most important challengeconservation of its human resources.
"That we can in all honesty assess the task to date as one of
progress and definite service is due in large part, I think, to the
determination of all responsible for its execution that no admin
istrative problems or difficulties should be permitted to drag along
unsolved and delay the objective so earnestly desired by all — getting
to the individual communities and their people the values of the program.
Innumerable instances could be cited of clear-thinking, impersonal
attacks on and solutions of the many-sided problems which had to be
quickly solved so that the primary task of putting a public health
program in action should not be hampered by inadequate and conflicting
methods or mechanisms.
"One illustration will suffice —
cooperation in administrative work.

a most significant piece of
I refer to the united approach

to the public health nursing program by the Public Health Service and
the Children's Bureau.

The joint report of Miss Mclver of the Public

Health Service and Miss Deutsch of the Children's Bureau, submitted
to the Interdepartmental Committee to Coordinate Health and Welfare
Activities, is a significant document.

They point out that progress

in the coordination of the two Federal public health nursing services
has been achieved through a series of carefully planned and thoroughly
followed up joint approaches, such as frequent conferences in the field

r

Miss &oche said in part

’’The first full year of federal-state cooperation under
the Social Security Act’s special health provisions lias brought
not only realization of important work well started, hut ever
keener realization of how many needs and problems still confront
us, demanding fuller achievements in the field of research and
much fuller and wider achievement in applying the findings of
research to human needs in eliminating the suffering and waste
that continue to he the lot of countless men, women and children.
Each new step forward makes it possible for us to assess more
clearly and constructively what we have done, and move more
surely and swiftly to the next forward step.
nAs a result of the Act’s first year of operation, more
than a thousand additional public health nurses, more than 600
additional doctors and nearly 500 additional experts in the
field of sanitary

engineering were at work in the various

states; full-time health departments had been established in
200 additional counties, and nearly 2000 health officers,
nurses, and sanitary engineers were taking the special training

Assistant

Secretary of the Treasury Josephine Roche today

\

told the Thirty-fifth Conference of State and 1&SS& Territorial Health
Officers that the public health program developed under the Social
Security Act is “only a hare he ginning" in efforts toward improving the
physical welfare of the nation*s population groups*

Climaxing four days of meetings in the Auditorium of —
-the United States Public H@aLth Service, MissRoche conveyed to the
delegates,^
J&Bfesaafme greetings and good wishes of the -jjagamc Secretary of the
Treasury and discussed briefly with the doctors the public health
gains reorded during the first full year of

operation

of the Social Security program*

imed not stress to this gro%," Miss Roche
said, "the fact that what has been done is only a bare beginning
of what a country, committed, as ours is and ”,:k*rT”

always has

been, to human rights and human values as its foremost concern, 2M &
must do if it is to make good on its commitments*"

Reports of committees appointed by Surgeon General
Thomas Par ran to inquire into health problems affecting both Federal
and State authorities also were read today*

TREASURY PEPARTMSNT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Thursday, April 8 , 1937,
_______
4-7-37.

Press Service
No• 10—4

Assistant Secretary of the Treasury Josephine Roche today told the
Thirty-fifth Conference of State and Territorial Health Officers that the
public health program developed under the Social Security Act is ’’only a
"bare “
beginning0 in efforts toward improving the physical welfare of the
nation’s population groups.
Climaxing four days of meetings in the Auditorium of the United States
Public Health Service, Miss Roche conveyed to the delegates the greetings
and good wishes of the Secretary of the Treasury and discussed briefly with
the doctors the public health gains recorded during the first full year of
operation of the Social Security program.
”1 need not stress to this group,” Miss Roche said, "the fact that
what has been done is only a bare beginning of what a country, committed,
as ours is and always has been, to human rights and human values as its
foremost concern, must do if it is to make good on its commitments. 0
Reports of committees appointed, by Surgeon General Thomas Parran
to inquire into health problems affecting both Federal and State authorities
also were read today.

Miss Roche said in part:

m

’’The first full year of federal-state cooperation under the Social Security
Act’s special health provisions has brought not only realization of important
work well started, hut ever keener realization of how many needs and problems
still confront us, demanding fuller achievements in the field of research and
much fuller and wider achievement in applying the findings of research to
human needs in eliminating the suffering and waste that continue to be the lot
of countless men, women and children.

Each new step forward makes it possible

for us to assess more clearly and constructively.what we have done, and move
more surely and swiftly to the next forward step,
”As a result of the Act’s first year of operation, more than a thousand
additional public health nurses, more than 600 additional doctors and nearly
500 additional experts in the field of sanitary engineering were at work in the
various states; full-time health departments had been established in 200
additional counties, and nearly 2000 health officers, nurses, and sanitary
engineers were taking the special training courses made possible under the
Act’s provisions.

All these and numerous other developments indicate a first

year not only of constructive results, but what is equally important, one
revealing an aroused and intelligent public attitude toward the nation’s most
important challenge —

conservation of its human resources,

’’That we can in all honestly assess the task to date as one of progress and
definite service is due in large part, I think, to the determination of all
responsible for its execution that no administrative problems or difficulties
should be permitted to drag along unsolved and delay the objective so earnestly
desired by all —

getting to the individual communities and their people the

values of the program.

Innumerable instances could be cited of clear-thinking,

impersonal attacks on and solutions of the many-sided problems which had to be
quickly solved so that the primary task of putting a public health program in

action should not he hampered by inadequate and conflicting methods or mechanisms*

1f0ne illustration will suffice — > a most significant piece of cooperation in
administrative-work.

I refer to the united approach to the public health nursing

program "by the Public Health Service and the Children1s Bureau.

The joint report

of Miss Mclver of the Public Health Service and Miss Deutsch of the Children1s
Bureau, submitted to the Interdepartmental Committee to Coordinate Health and
Welfare Activities, is a significant document.

They point out that prograss in

the coordination of the two Federal public health nursing services has been
achieved through a series of carefully planned and thoroughly followed up joint
approaches, such as frequent conferences in the field and in Washington to agree
on certain principles and policies regarding the consultation service as it
pertains to personnel practices and nursing programs; an exchange of itineraries
and frequent individual conferences with regard to nursing consultation visits
to the States; interdepartmental nursing committees working out suggested
standards for various public health nursing practices, programs and reports;
regional conferences for the State public health nursing supervisors under the
joint auspices of the Children’s Bureau and the Public Health Service; a rearrange«
ment of the nursing districts of the Children’s Bureau to coincide with the
districts of the Public Health Service; and joint advisory service to. the Civil
Service Commission on evaluating public health nursing qualifications.
MI need not stress to this group the fact that what has been done is only
a bare beginning of what a country, committed, as ours is and always has Veen,
to human rights and human values as its foremost concern, must do if it is to
make good on its commitments.w

-

2-

"The States, on the basis

of the Uniform set,"

said the C omm is si oner, "are able to license wholesale dealers
in narcotics and discriminate among applicants fcr licenses,
while the Federal Government can only collect an occupational
tax from any dealer, regardless of his reliability.

Imp

"In the case of forged prescriptions, too,
we fall back upon State authority to protect the public from
improper distribution of harmful drugs.

In reciprocation,

t h e ^ B i ^ ^ ^ ^ B u r e a u of Narcotics makes available to the States
its records of permits for the legitimate traffic , which sales
the States considerable trouble and expense,"
Aft er d e ta i1 ed s tud y , the unif orm sts te 1 sw
has been formally approved by the American Bar Association, the
American Medical Association, the Nsti onal Associs tion of Retail
Druggists and a number of other orgenizati ons •
States in which it has not yet been passed
are Iowa, Kansas, Maine, Masschusetts , Missouri, New Hampshire ,
North Dakota, Tennessee, Texas, Vermont and Washington,

oooOooo

FOR SUNDAY a m ’s

With reports from Treasury agents that five
more States had passed the Uniform State Narcotic Drug Act
d u n n g ^ t h e first quarter of 1937,
Ir

'tha t effective Federal-State co-operation

is "definitely improving" control of the traffic in illicit
opium*
California, Michigan and Pennsylvania are
looked upon as having had thproughly adequate narcotic
legislation prior to the development of the model act by
the Commissioners on Uniform State Laws in the autumn of

1932

.
Florida set the pace for the remaining State

when it was the first to approve the uniform statute in May
of 1933.

Since then twenty-eight other States adopted the

legislation up till the beginning of this year.

Now Arkansas

Montana, Wyoming, Idaho and Minnesota have passed the Act,
with the latter two States awaiting gubernatorial signatures
On the measure^.
Anslinger

Commissione r
out ^ t h a t

eal iz ati on by the

States of their responsibility with respect to drugs not
intended for medicinal use is élimina.ting the ’no-man’s land’
that has existed between local police powers and Federal
suppression of untaxpaid narcotics."

TREASURY BEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Sunday 4 April 11. 1937.________
4-10-37.

Tress Service
*o. 10-5

With reports fro® Treasury agents that five more States had passed the
Uniform State Narcotic Drug Act during the first quarter of 1937, Commissioner of
Narcotics Harry J.; Anslinger yesterday declared that effective Federal-State
co-operation is 11definitely improving11 control of the traffic in illicit opium*
California, Michigan and Pennsylvania are looked upon as having had thoroughly
adequate narcotic legislation prior to the dereLopment of the model act "by the
Commissioners on Uniform State Laws in the autumn of 1932*
Florida set the pace for the remaining States when it was the first to
approve the uniform statute in May of 1933.,

Since then twenty-eight other States

adopted the legislation up till the "beginning of this year.

Now Arkansas, Montana,

Wyoming, Idaho and Minnesota have passed the Act, with the latter two States
awaiting gubernatorial signatures on the measure.
Commissioner Anslinger pointed out that"realization by the States of their
responsibility with respect to drugs not intended for medicinal use is eliminating
the 1no—man* s land* that has existed between local police powers and Federal
suppression of untaxpaid narcotics, 11
1rThe States, on the basis of the Uniform act.,11 said the Commissioner, "are able
to license wholesale dealers in narcotics and discriminate among applicants for
licenses, while the Federal Government can only collect an occupational tax from
any dealer, regardless of his reliability,*
wIn the case of forged prescriptions, too, we fall back upon State authority
to protect the public from improper distribution of harmful drugs*

In reciprocation,

the Bureau of Narcotics makes available to the States its records of permits for the
legitimate traffic., which saves the States considerable trouble and expense.,11

-2—
After detailed study, the uniform state law has been formally approved by
the American Bar Association, the American Medical Association, the,National
Association of Retail Druggists and a number of other organizations.
States in which it has not yet been passed are Iowa, Kansas, Maine,
Massachusetts, Missouri, New Hampshire, North Dakota, Tennessee, Texas, Vermont
and Washington.

00O00

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tta r e t t a t i^ mmg® mm% m% ta te rfe r* « Itb tta iataaifcrifii m® fa r
mxim& tta «dentai i t iaietata#
la «d # r te jtòtlafteicM &iy

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'
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i
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form iai« off«ari&g iaera& w t protootioa «goiaót dirorstM U
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a sf ftu ts prodast* a# poastt&o oooreoo of dottataroat»
fa r «loahaX«

I

FOR TUESDAY pm«S

\

The nation's chemical industry today was
invited to co-operate with the Treasury Department in the
development

of improved denaturants that will provide

greater utility for industrial alcohol«j#^Tncreased
protection of the revenue.
profferred

The invitation was
m m by Dr. H. J.

I
the Secretary of the TregrOTry, in' a‘"paperAread before the
\
semi-annual meeting of the American Chemical Society this
morning at Chepelj| Hill, N. C.
"Preliminary investigation," said Dr. Wollner
"indicates that a definite possibility exists of developing
formulas which will possess greater flexibility from the
point of view of the consumer, greater simplicity of déna
turation from the point of view of the distiller and greater
protection of the revenue to the Government*"
The Treasury chemist told the Society that
in 1936 the industrial alcohol distillers of the country
"required somewhere between five and
of denaturants, which i n d u
chemical compounds ti

seven million gallons
a Hundred indi vidual

TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Tuesday« April 13, 1937,
_______
4-10-37.

Press Service
No. 10-6

The nation*s chemical industry today was invited to co-operate with the
Treasury Department in the development of improved dénaturants that will provide
greater,utility for industrial alcohol along with increased protection of the
revenue.
The invitation was preferred hy Dr. H.J. Wollner, Consulting Chemist to the
Secretary of the Treasury, in a paper on ”The Dénaturation of Industrial Alcohol**
read before the semi-annual meeting of the American Chemical Society this morning
at Chapel Hill, N.C.
Preliminary investigation,” said Dr. Wollner, ’’indicates that a definite
possibility exists of developing formulas which will possess greater flexibility
from the point of view of the consumer, greater simplicity of dénaturation from
the point of view of the distiller and greater protection of the revenue to the
Government.w
The Treasury chemist told the Society that in 1936 the industrial alcohol
distillers of the country ’’required somewhere between five and seven million
gallons of dénaturants, which included more than a hundred individual chemical
compounds.”
Dr. Wollner said in part;
wThe chemical literature is filled with recitations concerning the importance
of alcohol to the industrial life of the nation., .Alcohol has, probably, a wider
and more diversified application in the arts and sciences than any other raw
material produced by man.
’’From the point of view of the industrial technician, who views alcohol as a
manufacturing raw material, it is unfortunate that social considerations require
this substance to be under strict Governmental control.

These aucial considera

tions arise, in part, from the fact that alcohol-containing beverages are a

— 2~
source of revenue for the Government which, in its function as tax collector, of
necessity has the responsibility and burden of insuring that all alcohol consumed
in beverage form shall have been tax-paid.

The administrative problems thus

involved would be simplified were it possible to apply to all alcohol, without
distinction, the tax now applied to alcohol intended for beverage purposes.

To do

this, however, would curtail the use of alcohol in those industries where it is a
basic raw material and the.effect of such an action would be harmfully felt in
many industrial activities.
HIn full recognition of these facts provision exists for industry* s use of
alcohol, tax-free.

Measures are taken to prevent the illicit diversion of this

tax-free industrial alcohol.

This is done by rendering such alcohol unfit for

beverage purposes.
HMany years ago, when the industrial application of alcohol was not as
diversified and as extensive as it is today, this problem was relatively simple
in its solution.

Today, in one form or another, it is employed in practically

every industrial activity.
a technical or price basis,

In many instances it competes with other solvents on
Each of these manifold uses has its own set of

limiting conditions which proscribe the presence of certain impurities harmful to
the process or product.

If, therefore, the alcohol is rendered unfit for human

consumption, by the addition thereto of foreign substances known as denaturants,
the resulting change must not interefere with the industrial use for which the
alcohol is intended,
nThe Government requires a method of denaturing alcohol which will render it
tamper-proof to the illicit operator.

This has been done,, in part, and the

Treasury Department last year authorized, for unrestricted sale, three formulas
to take the place of those completely denatured alcohols previously in use and
found susceptible to cleaning.

However, these lately authorized formulas, because

of certain odorous and other characteristics, albeit they are better than obtained
heretofore, are excluded from use in the process industries and are almost totally

-3employed as anti-freeze bases.

Secondly, therefore, the Treasury Department

seeks to obtain formulas of equivalent protection with the simultaneous
admissibility in the processing industries»
’’Recognizing that efforts to solve the attendant problems had, in past years»
been unsuccessful, due in part to lac]£ of basic information concerning the needs
of industry, the Treasury Department conducted a survey of the entire alcohol
consuming industry,

The uses of alcohol were catalogued.

Early examination

quickly revealed that all the industrial applications of alcohol were reducible
to four major groups, to witî Solvent, chemical reagent, fuel and fluid,
’’The illicit alcohol industry has at its disposal most of the chemical
engineering processes available to legitimate industry, excepting those which
necessitate the setting up of a laboratory plant under the supervision of trained
men,
HAn ideal dénaturant, from the point of view of preventing ''cleaning*, must
needs possess a number of opposite characteristics.

It must not be effectively

removed by either alkaline or acid treatment; by oxidation or reduction; by
distillation or freezing; by adsorption on activated carbon; by rectification
or refluxing; by polinerization due to chemical or physical means; by extraction
with the mineral solvents, or others; by precipitation and filtration; or, by
conversion into other chemical entities subject to these treatments.

Finally,

the dénaturant must contribute its protection by virtue of imparting a physiologi
cally repellent taste or odor, or a combination of these.
’’The great multiplicity of specially denatured alcohols which now obtains,
and which are necessary if the selective requirements of individual industries
are to be met, invoke an extra burden both upon the distillers and the Government,
and, to a large extent, upon the alcohol consuming industry.1*

00 O 00

IMPORTS OF DISTILLED LIUUORS AND NINES AND DUTIES COLLECTED THEREON
________________________ FEBRUARY 1937____________________________
« F e b ru a ry t J an u ary : F eb ru a ry
1 s t 8 Months FI se a l Y u J

l

J____ 1937
DISTILLED LIOUORS ( P r o o f G a llo n s ) :
S to c k i n Customs Bonded Wareh o u ses a t b e g in n in g
T o ta l Im p o rts (F re e and D u t ia b le )
A v a i l a b l e f o r Consum ption
E n tered i n t o Consum ption ( a )
E x p o rted -fro m Q u ste ms-~~CU8t~o~dyr
S to o k i n Customs Bonded Ware«
h o u ses a t end
STILL WINES (L iq u id G a llo n s ) :
S to ck i n Customs Bonded Wareh o u se s a t b e g in n in g
T o t a l Im p o rts (F r e e and D u t ia b le )

1
3
2»

W6

____ 1237— »

3,618,338
**304,394
4,323,332
1,077*574
12,77*

3*426,042
1,280,400
4,706,442
1,077*908
9*596

3,738*020
1*046,843
4,784,863
945*392
2,644

3,702,586
11,411,102
15,113,688
11*208,338
72*363

9* 958,343

3,832,387

3,618,338

3*836*833

3,832,387

3*836,833

3*522,644
6*435*699

5*952,72»
168,782

A v a i la b le f o r Consum ption
E n tered i n t o Consum ption ( a )
Expo r to d -fr o a r G ustohs C u sto d y

1,068,789
1*085,347
212,826
210,776
1,298,173
1*279*565
211*405
228,372
-— ~52 *

S to o k i n Customs Bonded Ware
h o u ses a t end

1,068,108

1,068,789

1*633*297

1,068,108

1,633,297

147,538
39*337
186,875
18,152
31

137*455
36*398
173*853
26,273
42

223,688
13,686
237*374
13*054
12

216,919
399*818
616,737
447,601
444

288,092
448,002

168,692

147*53«

224,308

168,692

224,305

SPARKLINO WINES ( L iq u id G a llo n s ) :
S to o k i n Customs Bonded Ware«»
h o u ses a t b e g in n in g
T o t a l Im p o rts ( F r e e and D u tia b le )
A v a i l a b l e f o r Consum ption
E n tered i n t o Consum ption ( a )
E x p o rted fro m u u sto m s C u b to d y
S to o k i n Customs Bonded Ware»»
h o u ses a t end
DUTIES COLLECTED ON:
D i s t i l l e d L iq u o r s
S t i l l W ines
S p a r k lin g Wines

$

T o t a l D u tie s C o ll e c t e d on L iq u o r s
T o t a l D u tie s C o lie o t e d on O ther
Commod i t i es
TOTAL DUTIES COLLECTED
P e ro e n t C o lle c t e d on

Liquors

1*637*508
1*880,501
3*518,009
2,443,815
——<
--- 1 , 602” ~ - .. - 6,086
“■“‘*‘■
1,636*045
193,146
1,823*191
194,292

1*540,941
1*906,924
3*447,872
1,800*332
**"^^'•14,243

159*915

216,549
7*14

2,655,223 * 2,527*410 $ 2,437*575 $ 27,478*239 $ 23,607,52!
2, 242,103
188,618
138,301
242,276
2,180,75*
l , 284*al
53,7,12_____78,585_____ 76,164
1 , 344 , 288.
31,003,278
27*134>341
2,756,015
'2*837*553
2,804,836
223f 720,4_a
268,631,292
30,331,470
$256*854,7f
$40,518,386 $33*087,485 $239,634,570
10*(
6»99&
8*396
10*396
.......

$41,726,041
6,3#

( a ) I n c lu d in g w ith d r a w a ls fo r s h ip s u p p l i e s and d ip lo m a t ic u se *
(P rep a red by D i v is i o h o f S t a t i s t i c s and R e s e a ro h , Bureau o f Customs)

OFFICE OF THE COMMISSIONER OF CUSTOMS

St a

April 10, 1937

TO MR. GASTON
FROM MR. FREEMAN:
There is transmitted herewith a statement showing
imports of distilled liquors and wines, and duties col
lected thereon, covering the month of February 1936 and
1937 and the first eight months of the fiscal years 1936
and 1937, which may be suitable for press release.

Enclosure

Comparison of assets and liabilities of all active banks - Continued

page 2

(In thousands of dollars)

.^ --;• -

•
♦ Dec. 31,
•
1936
♦

• June 30,
: 1936

e
•
• June 30,
♦ 1933
•

♦ Increase or decrease : Increase or decrease
•
: since June 30, 1936 : since June 30. 1933
: Percent : Amount
: Percent
: Amount

LIABILITIES - Continued
Agreements to repurchase securities sold........... .
Acceptances executed by or for account of reporting
banks.............................................
Interest, taxes, and other expenses accrued and unpaid.
Dividends declared but not payable and amounts set
aside for undeclared dividends.....................
Other liabilities...... .............................
Capital notes and debentures.........................
Preferred stock*....................................
Common stock................... ......................
Surplus.............................................
Undivided profits and reserves.......................
Total capital account............... .......

$1,2X5

$883

$26,799

$332

37.60

-$2 5 ,5#+

-95A

270,463
73,122

208,005
7 1,7 7 6

1+1+5,187
76,300

62,458
1 ,31+6

30.03
1.88

-174,724
-3,17S

-39.25
-U.I7

.12
-21.97
-1 6 .2 7 )
-1 7 .2 5 )
.83 )
9.56
-2 .2 5
2.1b

33,513
-189,079

IW
-31.1+8

393,529

I3 .5 7

362,91+8
I.323
757.800

10.77
.12
10.26

18.812,883

36.67

%3 3 ,5 13
1«.1,1+72
20!+,900
52%, 350
2 ,563,820
3,739,269
1 ,1 1 5 ,7*19
8.11+3,088

33,^73
527,305
2V+.719
633,667 )
2,592,81+0 )
3,1+08,1+18
l,llH,W+9
7,971,093

Total liabilities, including capital account..... ............................. .
Ratio of loans to deposits................ Percent*...

1/

35.3^

Licensed banks; i. e., those operating on an unrestricted basis

ftote:

Minos sign denotes decrease.

35.72

H0
600,5l*&

3,371,321
i.ni+,1+26
7,335,288

-115 ,8 3 3
-39,819
-109,317
20,980
325,851
-25,700
1 7 1 ,9 9 5

51,301,908

2 ,916,210

2 ,899,51+1

53.9O

A * .

TREASURY DEPARTMENT
FOR RELEASE, Morning newspapers
Thors day, April 15% 1937.

Press Service No*

/o - 8

WASHINGTON

Since publication on April 7 » 1937» of a summary of the assets and liabilities of all active banks by classes as of December 31, 193^,
the Comptroller of the Currency, Honorable J. F. T. O ’Connor, has received numerous requests for figures for June 30» 193^ and June 30,
1933, fo r the purpose of making a comparison of the principal items of assets and liabilities. Complying with this request, the following
figures are given:
Statement showing comparison of items of assets and liabilities of all active banks in the United
States and possessions as of December 31» 193&, June 3°» 193^, and June 30, 1933*
(In thousands of dollars)
Dec* 31,

1936

:
June 30,
j June 30,
1936____ : 1933

—*9

’

: Increase or decrease : Increase or decrease
: since June 30. 1936 ; since June 30, 1933
: Amount
s percent : Amount
: percent
evu
>W

ASSETS
U.

.$21,603,285
i 1 7 ,t e l , 197
. 10.771.6U7
• 1 3 5 ,6 8 0
. 1,290,101
, 1,024,524

$20,839,159
17, 358,200
10,501,333
1,363,1*26
1 ,2 6 3 ,7U2
1,0 18 ,951

. 15,S68,U83
784, 87$
. 70, 114.791

$76U,126
62,997
270 ,31U
-17.7U6
26,359
5,573

3.67
*36
2.57
- I .3 0
2.09
• 55

-$78U,533
9 , 625,198
636,983
- 37,151
652, U55
351,968

-3 .50
.123.1*6
6.29
-2.69
102.32
52.33

1U,103,U30
. 750, 3%)
67. 19Si.5 0 ,

7 , 092,229
12 .52
1 , 765,053
1 . 198.165 ___ J 8 , 5f t
51. 301.908
2.Q16.210 — H t -

8, 776, 25U
-UO8.291
18.812 8 8 1

12 3 .7U
-3 4.0 s
----- 16 67—

• 2U, 709,577

22.U6U.588

14,001,839

2,2UU,989

9.99

10, 707, 73«

76.U7

• 23,925,1119
• 3 , 367,755
. 1,12U,396
, 7,06U,0Q2

23,1*6,681
3,3te,8U8
1,3U 6,116
6 , 905, 79U

20,21*5,615
1,603,576
1,6 3 7,9 13
3. 36U.885

U78,U68
2U,907
- 221,720
158,208

2.0U
.75
- 1 6 .Ur
2.29

3. 679. 53U
1 . 76U.179
- 513,517
3, 699,117

1 8 .1 7
110.02
- 31.35
109.93

935, 0U6
61,125.925

____ 833.788
58, 339.815

679.6U2
U l, 533,970

101,258
2 . 786.110

12.14
4.78

255.404
19. 592.455

55,993

46,231

503,883

9,762

21.12

-730,^35
-447,890

Balances with other banks, Including reserve with reOther assets.........
Total assets,

$22,387,818
7 , 795, 99?
10,134,664
1,382,831
637,646
672,556

LIABILITIES
Demand deposits of individuals, partnerships, and
corporations..... ......... ....... ...........
Time deposits of individuals, partnerships, and
corporations.... .............................

etc,
National bank circulation....,
Bills payable and rediscounts,

■

37.58
47.17
-88.89

FOR RELEASE, Morning newspapers
Thursday, April 15, 1937«____

Press Service

TREASURY DEPARTMENT
WASHINGTON

No. 10-8
Since publication on April J , 1937» of a summary of the assets and liabilities of all active banks by classes as of December 31» 1936,
the Comptroller of the Currency, Honorable J.F.T. O’Connor, has received numerous requests for figures for June 30, 1936 and Jnne 30» 1933, for
the purpose of making a comparison of the principal items of assets and liabilities. Complying with this request,the following figures are given
Statement showing comparison of items of assets and liabilities of all active banks in the United
States and possessions as of December 3 1 » 1936, June 30, 1936, and June 30, 1933»
(In thousands of dollars)
: Increase or decrease : Increase or decrease
:
since June 30, 1936 : since June 30, 1933
ï Dec. 31, : June 30,
June 30,
:
Amount
: Percent : Amount
: Percent
: 1936
: 19 3 6
1933
- .6 2
Number of banks............. ............... .. 15,705
1,081
1 / l*+,02 *
+
-98
15,803
7.39
Assets
Loans and discounts, including overdrafts............. .„$2 +,6 0 3 ,2 8 5
$7 6 *+,12 6
-3 .5 0
3 .6 7
-$7Sl+,533
$20,339,159 $2 2 ,3 8 7 ,8 1 8
U.S. Government securities,direct and fully guaranteed . . 1 7 ,^2 1 , 1 9 7
17,358,200
1 2 3 . *+6
9 ,6 2 5 ,1 9 s
.36
6 2 ,9 9 7
7,795,999
Other bonds, stocks, and securities........... .
.. 1 0 .7 7 1 .6 U7
1 0 ,1 3 *
+,66 *+
270,31*+
6 .2 9
2.57
1 0 ,5 0 1 ,3 3 3
636,933
Banking house, furniture and fixtures.............. .. l,3 *+5 ,6 S0
1 ,3 6 3 ,1+26
2 .6 9
1,382,831
-1 7 ,71+6
-1 . 3 0
-37,151
Real estate owned other than banking house........ .. 1 ,2 9 0 ,1 0 1
63 7 6*+6
2 .0 9
1 0 2 .3 2
1 ,2 6 3 ,71+2
2 6 ,3 5 9
6 5 2 ,1+55
Cash in vault...... .............. ........... .. 1 ,02 *+,52 U
351,96s
6 7 2 ,556
¿55
5,573
1 ,0 1 s, 9 5 1
52.33
Balances with other banks, including reserve with re
serve agents....... ......................... . . 1 5 ,s6 s ,*+83
1 2 .5 2
7 ,0 9 2 ,2 2 9
l*+,103,*+30
3 ,7 7 6 ,251+
123.7>+
1 ,7 6 5 ,0 5 3
Other assets...... .........................
5.27
-*+08,291 -3 *+.08
7 3 9 ,371 +
7 5 0 ,31+0
1 ,1 9 3 , 1 6 5
3 9 ,531+
Total assets... ......................... ...... . . 7 0 ,111 +,7 9 1
2 ,9 1 6 ,2 1 0
5i,30i,90S
1+.31+
18,812,883
3 6 .6 7
6 7 ,1 9 3 ,5 3 1
LIABILITIES

22,*+6*+,533

1*
+,0 0 1 ,3 3 9

2 3 ,*+*+6 ,6 si
3 ,31+2 ,31+3
i,3 *+6 ,li6

2 0 ,2 *+5 ,6 l5
1 ,6 0 3 ,5 7 6

6 ,9 0 5 ,791+

333,733
58,339,815
*+6 ,2 3 1

1 ,6 3 7 ,9 1 3

3,3Si+,S35
679,6*+2
i+i,533,1+70
730,1+35
503,333

(See page 2 )

ZSS'ZOZ

£66‘£S

s^zmooBj'psj. pue e xqu£sd sIit;a

2 ,2 *
+*+,9 39

*+73,*+6S
21+.907
-2 2 1 ,7 2 0
1 5 8 ,2 0 8

101,258
2,736,110
— <4
9 ,7 6 2

9.99
2 .0 *
+

.75
-1 6 .1+7
2 .2 9
1 2 .1 *
+

to
!f"
pi

Demand deposits of individuals, partnerships, and
corporations.............................. ............ . . ?!+,709,577
Time deposits of individuals, partnerships, and
corporations.................. ..... ...... .....
. .
2 3 ,9 2 5 »i*+9
State, county, and municipal deposits...................................... ......................................... ........... . . 3,367,755
U.S. Government and postal savings deposits......................................................... . . 1 .1 2 H.3 9 6
Deposits of '.other banks..................................... ........... * . . . . . . . . . A ............. .................................... ... 7,06*4,002
Certified and cashiers’ checks,cash letters of credit,etc. 935,o*+6
Total deposits........... ......... ......................................................
6 1 ,1 2 5 ,9 2 5
_
National bank circulation.... ............... ........... .....
"Bills payable and rediscounts.... . ...... ...............................................
55,993

—

2 1 .1 2

10,707,738
3 ,6 7 9 .531+
1 ,761 +,1 7 9

-513,517
3,699,117
255,*+o*+
1 9 ,5 9 2 ,1+55
-7 3 0 ,1+35
-*+*+7,890

76.1+7
18.17
1 1 0 ,0 2

-3 I.3 5
109.93
37.58
1+7.17
—

-8 8 .8 9

Comparison of assets and liabilities of all active banks - continued

page 2

\ (in thousands of dollars)
\
Dec. 3 1 »
1936
:

June 3 0 , i June 3 0 ,
1936
1933

Increase or decrease : Increase or decrease
* since June 30, 1936
since June JO >19.33
: Percent : Amount
: Amount
: percent

LIABILITIES - Continued
Agreements to repurchase securities sold..... .
Acceptances executed by or for account of reporting
banks..................... ............. .
Interest, taxes, and other expenses accrued and unpaid.
Dividends declared but not -payable and amounts set
aside for undeclared dividends.................
Other liabilities............................
Capital notes and debentures.... ...............
Preferred stock..................... ...... .
Common stock................. ...... ........
Surplus.......... .... .................... .
Undivided profits and reserves...................
Total capital account.................
Total liabilities, including capital account *.............................

70.llH.791

Ratio of loans to deposits....... ..... .Percent..,.

35.3H

l/

$1,215
270,463
73,122
33,513
>+11,472
204,900
524,350
2 ,5 6 3 ,3 2 0
3 .7 3 H.2 6 9
1 ,1 1 5 ,7H9

S,143,OSS

Licensed banks; i. e., those operating on an unrestricted basis.

Rote:

Minus sign denotes decrease.

$SS3

$2 6 ,7 9 9

$332

71,776

HH5 .1 S7
76,300

62,45S
1 .3 H6

33,>+73
527,305

-—
600,546

'4o
-115,833
-39,819
-109,317
20;,9SO

2 0 8 ,0 0 5

2 4 4 ,7 1 9
6 3 3 ,6 6 7

—

) ? ;<qq rLlt
2,542,s4û ) c, ,peu
3,4o s ,4is
3,371,321
1.141,449
1.114.4 p 6
7,3S5,2SS
7,971,093
67,19S,581

35.72

.51,301,908
53.90

3 7 .6 0

-$25,584

-95.47

30.03
1«SS

-17H.72H
-3,178

-39.25
-4.17

33,513
-189,074

-3 1 .Hs

393.529

I3 . 5 7

3 6 2 ,9 4 s

10.77

* 12

-21.97
-1 6 . 2 7 )
-1 7 . 2 5 )
.03 )

3 2 5 ,8 5 1

9 .5 6

-23.700

-2.23

1.727

171,995

2 .1 6

757,800

.12
10 ,26

1S.S12.SS3

3 6 .6 7

2 .9 1 6 .2 1 0

4.34

TREASURY DEPARTMENT
WA3EIN5T0S
Press Sendee

4/12/3?

/
Secretary of the Treasury

Morgenthau announced last

evening that the tenders for 150,000,000, or thereabout®, of
273-day Treasury bills, dated April 14f 193?, and maturing
January 12, 193®, which were offered on April 9, were opened
at the federal Reserve hanks on April 12.
The total amount applied for was 1126,121,000, of
;\\ v'l

«Rich ¿50,082,000 was accepted.

Th. accepted bids ranged in

price from 99.550, equivalent to a rate of about 0.593 per
cent per annum, to 99.462, equivalent to a rate of about
G.?09 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 39*494
and the average rate i® about 0.667 percent per annum on a
bank discount basis.

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Tuesday, April 13, 1937.
4-12-37,

Press Service
No-. 10-9

Secretary of the Treasury Morgenthau announced last evening that the tenders
for $50,000,000, or thereabouts, of 273-day Treasury hills, dated April 14fl937 and
maturing January 12, 1938, which were offered on April 9, were opened at the
Federal Reserve hanks on April 12,
The total amount applied for was $126,121,000, of which $50,022,000
was accepted.

The accepted bids ranged in price from 99.550, equivalent to a

rate of about 0.593 percent per annum, to 99.462, equivalent to a rate of about
0.709 percent per annum, on a bank discount basis.
for at the latter price was accepted.

Only part of the amount bid

The average price of Treasury bills to be

issued is 99.494 and the average rate is about 0.667 percent per annum on a bank
discount basis.
ooOoo

ty-

I 0

y'Y^#

Ct/WvC^f / ^
Tmc.Tm ■pfffipg

To improve durability of art works in Government buildings
throughout the country, w in TlFr rnrji ¿itlinnmn ~h

3mrnrnm

arranged for

the advisory services of Alexander Abels, instructor in painting
9

and painting technique at the Art Students League in New York City.
In collaboration with Dr. Herbert Wollner, consulting chemist
to the Secretary of the Treasury, and Edward Bruce, chief of the
Procurement Division section of painting and sculpture, Mr. Abels
will work on standards of art techniques for the various sections
of the country.

His effort will be directed toward aiding artists

commissioned for murals, frescoes and other decorations for Govern
ment structures to utilize media that will last in the climate of
M i AhsdtA
the particular loca ^ y y
nntn rf ”1
given to colors,
"Cdnvase^ -and oils |£
in the Treasury !s art uro.ject^/v ^

eing done
^

Mr. Abels was himself a student at the New York league, after
which he did technique research in Germany under Prof. Max Doerner,
authority on the technique of the Old Masters.”

Following a

sketching tour of southern France, Italy and Tunisia, he returned
to New York in 1954 to Become an instructor at the League.

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Friday. April 16. 1937._______
4/14/3?.

Press Release
No. 10-10

To improve durability of art works in Government buildings through
out the country, Secretary Morgenthau has arranged for the advisory services
of Alexander Abels, instructor in painting and painting technique at the
Art Students League in New York City.
In collaboration with Dr. Herbert Wollner, consulting chemist to
the Secretary of the Treasury, and Edward Bruce, chief of the Procurement
Division section of painting and sculpture, Mr. Abels will work on standards
of art techniques for the various sections of the country.

His effort will

be directed toward aiding artists commissioned for murals, frescoes and other
decorations for Government structures to utilize media that will last in
the climate of the particular locality.

Mr. Abel’s attention also will be

given to colors, canvases and oils, but he will not be concerned with the
esthetics of the work being done in the Treasury's art projects.
Mr. Abels was himself a student at the New York league, after which
he did technique research in Germany under Prof. Max Doerner, authority on
the "Technique of the Old Masters."

Following a sketching tour of southern

France, Italy and Tunisia, he returned to New York in 1934 to become an
instructor at the League.

— cs—

TREASURY DEPARTMENT
OFFICE OF THE SECRETARY

WASHINGTON

C O M M IS S IO N E R O F
A C C O U N T S A N D D E P O S IT S

April 8, 1937

TO MR. GASTOHs
During the month of March, 1937, the
following market transactions took place in
Government securities for investment account:

Total purchases «•••* $ 119,573,000
Total sales ....... . ...... 20,000

TREASURY DEPARTMENT
Washington

for r e l e a s e , m o r n i n g n e w s p a p e r s ,
Friday, April 16, 1937._________
4-15-37.

Press Service
Nc. 10-11

Net market purchases of Government securities for Treasury investment
accounts for the calendar month of March 1937, amounted to $119,553,000,
Secretary Mergenthau announced today.

ccOoc

Eollywooc^iini^miapha^-been1
"chosen from seventh-nine artists1
\
d e s i g n s ^ ^ m ’ttt^tfT^in anonymous competition for a mural painting for the *

The mural painting, a panel forty-one feet long by six feet, ten
inches high, will be executed for a wall in the i^outh entrance lobby
of the Post Office* Mr* Martinfs design illustrates the means of trans
portation of the mail in the varied regions which the postal service
reaches, from the Arctic to the Tropics and from the desert to the
cities* The painting will be executed in greens and sepia tones which
harmonize with the black marble and terra cotta finish of the lobby of
the building. The amount to be paid for the mural painting is #4,900*.
The committee v/hich was in local charge of the competition was
headed by
Merle Armitage of Los Angel — ,~-«irl ftmsj i i f t t
, ■1$Paul Sample, Jose Rodriques and Bernard Roufberg* After reviewing all
designs submitted in the competition, the committee forwarded them to
the Section of Painting and Sculpture in Washington with the recommen
dation that the competition be closed without award* After considerable
study of the designs, the Section of Painting and Sculpture decided that
the sketch which proved to be the work of MMl Fletcher Martin warranted
the award. This decision was based on the outstanding composition of the
sketch, the scope of the theme and its interesting relation in color and
design to the architecture*.
Martin, a native of Colorado, served an enlistment in the
United States Navy on ships based at San Pedro. He has worked with
Siqueiros as an assistant in executing a fresco in Santa Monica, Califs.*
^ i
M j iir r - and has recently completed a fresco in the/Auditorium of the North
H o l l y w o o d ^ C a l H i g h School.

Mm

FOE RELEASE, IvIOEEIHG EEYÍSFAP2ES
F r id a y , A p r il 25, 1957.___________

V- ' *

f *

i

^ 3 8
Q

, l o - ) X

H f i l / 'i ? .

FOR FRIDAY am»s

The design of F letch er Martin of
Hollywood, C a l i f • , has been chosen from among those of seventynine a r t i s t s fo r a mural p a in tin g f o r the San Pedro (C a lif* )
Post O f f ic e f S ecre ta ry Morgenthau announced today*
The ^ o S S S l designs were submitted
to the S ectio n of P a in tin g and Sculpture in the Procurement
D iv isio n in an anonymous com petition*

5

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
ffgld&v. April 23, 1937.________
4/21/37.

Press Service
No. 10-12

The design of Eletcher Martin of Hollywood, Calif., has "been chosen
from among those of seventy-nine artists for a mural painting for the San Pedro
(Calif.) Post Office, Secretary.Morgenthau announced today.
The designs were submitted to the Section of Painting and Sculpture
in the Procurement Division in an anonymous competition.
The mural painting, a panel forty-one feet long by six feet, ten
inches high, will be executed for a wall in the south entrance lobby of the
Post Office.

Mr. Martin's design illustrates the means of transportation of

the mail in the varied regions which the postal service reaches, from the
.‘retie to the Tropics and from the desert to the cities.

The painting will

be executed in greens and sepia tones which harmonize with the black marble
and terra cotta finish of the lobby of the building.

The amount to be paid

for the mural painting is $4,900.
The committee which was in local charge of the competition’was
headed by Merle Armitage of Los Angeles, who was assisted by Paul Sample,
Jose Rodriques and Bernard Roufberg.

After reviewing all designs submitted

in the competition, the committee forwarded them to the Section of Painting
and Sculpture in Washington with the recommendation that the competition be
closed without award.

After considerable study of the designs, the Section

of Painting and Sculpture decided that the sketch which proved to be the
work of Eletcher Martin warranted the award.

This decision was based on the

outstanding composition of the sketch, the scope of the theme and its interesting relation in color and design to the architecture.

Martin, a native cf Cclcradc, served an enlistment in the United
States Navy ni ships based at San Pedro.

He has worked with Siqueiros as

an assistant in executing a fresco in Santa Monica, Calif., and has recently
completed a fresco in the auditorium of the Nrrth Hcllywccd (Calif.) High
Schccl.

ccOco

TREASURY DEPARTMENT

Washington, D* C,

FOR RELEASE:

The Treasury Departp&fftT, FrocuremelSfr^&i^ sion, Section of
Painting and
announced today thatuiteisis^esign of Oscar E.
Beminghaus of^nos, New Mexico, had been chosen fr^r*<forty artists*
designs si^bflirbted in an anonymous competition for a mural painting
for th^^ourt Room of the Fort Scott, Kansas, Post Office and Court
House
............... .
The mural painting, a single panel(^2Ç>i^fide bj^^^fiigh, will be
installed on the wall of the fiourt ßoom. facing the ^Judge’s bench* The
winning design illustrates the movement of the pioneers across the
Plains of Kansas in prairie wagons and on horseback at the period when
the Enabling Act of Kansas Territory opened up the passage to the
Northwest. The amount to be paid for the mural painting is |2,600*
The competition held for the painting was locally in«8l charge
of a committee headed by i££» C* A* Seward, President of the Kansas
State Federation of Art, Wichita,
who was assisted by M*.
Walter Earle Glover of Topeka,^SsSST, the ^chitect of the building,
and ii£n» Frank Milligan, Editor "of the Fort Scott Monitor* The com
mittee received the competition designs and forwarded them to the
Section of Painting (^Sculpture with recommendations for award. The
final decision was reached by the Procurement Division in Washington*
4iB% Berninghaus was one of the pioneers of the Taos art colony^,
where he hair been painting since 1898. He is represented by easel
paintings in a number of permanent museum collections and has executed
mural paintings in the State Capitol of Missouri and other buildings.

V

| 6 -

/ 3

F O R F R I D A Y a m fs

The d e s i g n

of O s car E. B e r n i n g h a u s of

Taos, N. M., has b e e n c h o s e n f r o m a m o n g those

of f o r t y artists

for a m u r a l p a i n t i n g for the C o u r t R o o m of the F o r t S c o t t
(Kansas) P o s t

Office and C o u r t H o u s e 9 S e c r e t a r y M o r g e n t h a u

a n n o u n c e d t o day*
T he d e s i g n s w e r e
S e c t i o n of P a i n t i n g and Sculpture
in an a n o n y m o u s c o m p e t i t i o n *

s u b m i t t e d to the

in the P r o c u r e m e n t D i v i s i o n

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Friday. April 23., 193?. .:
4/21/37.

Press Service
No.- 10-13

The design cf Oscar E. Berninghaus of Tacs, N. M., has Been
chosen from among these of forty artists for a mural painting for the Court
Room cf the Pert Scott (Kansas) Post Office and Court House, Secretary
Mcrgenthau announced today.
The designs were submitted to the Section of Painting and Sculpture
in the Procurement Division in an anonymous competition.
The mural painting, a single panel twenty feet wide by eight feet
high, will be installed on the wall of the court room facing the judge’s
bench.

The winning design illustrates the movement cf the pioneers across

the plains of Kansas in prairie wagons and on horseback at the period when
the Enabling Act of Kansas Territory opened up the passage to the Northwest.
The amount to be paid for the mural painting is $2,600.
The competition held for the painting was locally in charge cf a
committee headed by C. A. Seward, President cf the Kansas State Federation
cf Art, Wichita, Kans., who was assisted by Walter Earle Glover cf Topeka,
Kans., the architect cf the building, and Frank Milligan, Editor of the
Fort Scott Monitor.

The committee received the competition designs and

forwarded them to the Section of Painting and Sculpture with recommendations
for award.
Washington.

The final decision was reached by the Procurement Division in

Berninghaus was cne cf the picneers cf the Tacs art colony,
where he has been painting since 1898»

He is represented by easel paintings

in a number cf permanent museum collections and has executed mural paintings
in the State Capitol of Missouri and other buildings»-

ooOcc

m w m m trnmmem

mmmmm

wmmsàii* urnmimmmmmm

Proaa som««

80.

/0" Y

* J Ì I/3 7

SM M tu7 of tbo Troaaury itegtB tli» announood laat

tbat Uh« M m

fo t %m N r lt i of Troaaurf b ill» , to bo d&tod Aprii 81, 193?» »Meli mro offersi
o» Aprii li» n r» eponod at i4# lodami

baaba #m Aprii 19*

fed era «ara iaritod far tba tm aorioa to tbo aggrotta m®mt ©f #100»000,000]
or tboroatouta» and $883,584,000 m a appliod for» of whieb $100,325,000 m a aecsptai
Tbo dota ila of tbo tuo aorioa aro aa fellemi
16

Par tbis sorics, whieb m a far #80,000,000, or tboro&booto» tbo total amasi
appliod for m a #186,884,000, «f whieb #80,088,000 m a aeeeptod* dxeept far ma
tid af #10»000» tbo aaeaptad Mia raa#od in pria# fresa i#»ÌI0» oouimlent to a
rata

af atout 0*43# poreont par amami» to 99.768, «juUmlaut to a rato of atout

§*f?t poreont par annua, ©a a tank discount taaia* Gnlp part of tbo a&ount bid
far at tbo lattar pria« m a aeooptod. Tbo avom«o prlea of Troaaury bilia of ibis
oorioo to bo liisi# ia 99.776 m€ tbo avaro#» roto ia atout 0*343 poroont por aanta
OH a tank discount taaia*
8f3>MT TRgA&ffiY 11113» MATOtSUO U W & 8 T 19* 1988
lOr tbia aorioa» m i a o m a for 180,000,000, or tboro&bouta, tbo t o m i amasi
a p p U o d for m a #134,380,000, of whieb $80,300,000 m a aeooptod.

ixaapt for osa

tid of #10»000» ito aoooptod tida rangod In pria» fro» 99.810» o^uivalont to a
iato of atout 0*846 poreont por anaa», to 99*446» oquivalent te a rodo of atout
0*781 poreont por annua» oa a tank discount taoio*

The avara#© prie# of Troaatwy

bilia of ibi a aorioa to bo iaauod ia 99*469 atti tbo avara#© rato io atout 0*701
poreont por anima on a tank discount taaia»

TREASURY DEPARTMENT
Washington
RELEASE, MORNING NEWSPAPERS,
Tuesday, April SO, 1937.________
4-19-37.

Press Service
No . 10-14

for

Secretary of the Treasury Morgenthau announced last evening that'the ten
ders for two series of Treasury hills, to he dated April 21,1937, which were
offered on April 16, were opened at the Federal Reserve hanks on April 19,
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $288,554,000 was applied for, of which
$100,325,000 was accepted.

The details of the two series are as follows:

148-DAY TREASURY PILLS, MATURING SEPTEMBER 16, 1937.
For this series, which was for $50,000,000* or thereabouts, the total
amount applied for v/as $154,224,000, ..of which $50^025^000 was accepted.

Except

for one hid of $10,000, the accepted bids ranged in price from 99.820, equiva
lent to a rate of about 0.438 percent per annum, to 99.765, equivalent to a rate
of about 0.572 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 of this series to be issued is 99.776 and the average rate is about 0.545
percent per annum on a bank discount basis.
273-DAY TREASURY BILLS, MATURING JANUARY 19,; 1938
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $134,330,000, of which $50,300,000 was accepted. ‘ Except for one
bid of $10,000, the accepted bids ranged in price from 99.510, equivalent to a
rate of about 0*646 percent per annum, to 99.446, equivalent to a rate of about
0.731 percent per annum, on a bank discount basis.

The average price of

Treasury bills of this series to be issued is 99.469 and the average rate is
about 0,701 percent per annum on a bank discount basis.
ooOoo

TREASURY DSPAHTMEMT
»

Washington

FOR IMHEDIATI RELEASE,
Tuesday. April 20, 1937
4 / 19 / 3 ?

Press Service
Ho. lD - t £

The Secretary of the Treasury is today inviting proposals
for furnishing distinctIt s paper for printing currency and public
debt securities of the United States during the fiscal year 1938,
bids for which will be opened at the Treasury Department on May 6,
1937.
The estimated quantity required for currency ie 84,185,000
sheets, or about 1016 tous of paper.
quirements for public debt securities.

Ho estimate ie made of the re

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASEj
Tuesday, April 20, 193?.

Press Service
No. 10-15

The Secretary of the Treasury is today inviting proposals for furnishing
distinctive paper for printing currency and public debt securities of the
United States during the fiscal year 1938, bids for which will be opened at
the Treasury Department on May 6, 1937,
The estimated quantity required for currency is 84,165,000 sheets, or
about 1016 tens.of paper.

No estimate is made of the requirements for public

debt securities.
o,o0oo

2

one hundred twenty days*
return

In addition a wilful failure to make a

or to pay the tax is subject to a fine of not more than

$10,000*00, as well as imprisonment”•
Titles VIII and IX of the Social Security Act provide for two
distinct taxes and two distinct forms of returns.

The tax imposed

Title IX is required to be recorded on returns filed annually^
fhn f 1-pi1\\■'-^'"^Trp'T'in ■ A

*

»

»

.

. Payment of the tax

'to iZ^xiJL /, /fS7.
muat-biBjiadeueither in a single installment on April 1, 1937, or in
^four equal installments payable April 1, 1937; April 30. 1937: July
31, 1937; and October 31, 1937,.
JjL&sfri&L&i
t-4 f\* T&A.. C.£k M ^ * . C M / 7 3 $ f
Title Till of the Social Security Act imposes a tax upon remun
eration received by employees after December 31, 1936, with respect
to employment after that date.

This tax is collected in the first

instance by the employer by deducting the amount of the tax from the
wages as and when paid.

The same title imposes an excise tax of an

equal amount upon, the employer himself with respect to the wages paid
to the employees.

Employers subject to this tax are required to make

monthly returns for each calendar month beginning January 1, 1937.
Such returns are required to be filed on or before the last day of
the first month following that for which it is made.

Both the tax

collected by the employer from his employees, and the tax due from
the employer himself must be reported on the monthly return, and are
due and payable at the time fixed for filing the returns.

The Commissioner of Internal Revenue, Guy T. Helvering, stated
today that his attention had been called to an opinion expressed by
some employers in New England to the effect that it would not be
necessary for them to file returns and pay taxes under Titles Till
and IX of the Social Security Act in view of the decisions rendered
April 16th by the United States Circuit Court of Appeals for the
First Circuit, in the case of George P* Davis v* Boston—Maine Rail
road, et al., and Davis v* Edison Electric Illuminative Company*
Mr* Helvering pointed out that the tax imposed by Title IX had been
held valid by the Circuit Court of Appeals for the Fifth Circuit and
stated that he anticipated that the Supreme Court would at an early
date reverse the decisions in the First Circuit and affirm the decision
in the Fifth Circuit, thereby holding valid from the date of enactment
the taxes under both Titles*
WI have specifically instructed the Collectors in all collection
districts to investigate actively all cases of failure to make re
turns", he said*

"In the event that the Supreme Court upholds these

taxes, we will collect the penalties for the failure to make returns
and to pay the tax whether or not such failure occurred before or
after the date of the Supreme Court decisions.

The Social Security

Act provides a penalty of 5 percent of the tax required to be reported
if there is a delinquency in filing the return of less than thirty days,
and this penalty increases to 25 percent if the delinquency is over

TREASURY DEPARTMENT
Washington
JOR IMMEDIATE RELEASE,
Wednesday, April 21, 1937.

Press Service
No. 10~16

The Commissioner of Internal Revenue, Guy T. Helvering, stated today that
his attention had "been called to an opinion expressed by some employers in New
England to the effect that it would not he necessary for them to file returns
and pay taxes under Titles VIII and IX of the Social Security Act in view of the
decisions rendered April 16th by the United States Circuit Court of Appeals for
the First Circuit, in the case of George P. Davis v. Boston-Maine Railroad, et
al.? and Davis v. Edison Electric Illuminative Company.

Mr. Helvering pointed

out that the tax imposed by Title IX had been held valid by the Circuit Court of
Appeals for the Fifth Circuit and stated that he anticipated that the Supreme
Court would at an early date reverse the decisions in the First Circuit and
affirm the decision in the Fifth Circuit, thereby holding valid from the date of
enactment the taxes under both Titles.
HI have specifically instructed the Collectors in all collection districts
to investigate actively all cases of failure to make returns”, he said.

”In

the event that the Supreme Court upholds these taxes, we will collect the penal
ties for the failure to make returns and to pay the tax whether or not such
failure occurred before or after the date of the Supreme Court decisions.

The

Social Security Act provides a penalty of 5 percent of the tax required to be
reported if there is a delinquency in filing the return of less than thirty days,
and this penalty increases to 25 percent if the delinquency is over one hundred
twenty days.

In addition a wilful failure to.make a return or to pay the tax

is subject to a fine of not more than $10,000.00, as well as imprisonment”.

_ 2 Titles VIII and IX of the Social Security Act provide for two distinct
taxes and two distinct forms of returns.

The tax imposed under Title IX is

required to he recorded on returns filed annually not later than January 31.
However, the final date for filing the first returns was extended to April
1, 1937,

Payment of the tax is required to he made either in a single in

stallment on April 1, 1937, or in four equal installments payable April 1,
1937;

April 30, 1937; July

31, 1937;

and October 31, 1937.

These payments

apply to the tax liability incurred for the calendar year 1936.
Title VIII of the Social Security Act imposes a tax upon remuneration
received by employees after December 31, 1936, with respect to employment
after that date.

This tax is collected in the first instance by the

employer by deducting the amount of the tax from the wages as and when
paid.

The same title imposes an excise tax of an equal amount upon the

employer himself with respect to the wages paid to the employees. Employers
subject to this tax are required to make monthly returns for each calendar
month beginning January 1, 1937,

Such returns are required to be filed on

or before the last day’ of the first month following that for which it is
made.

Both the tax collected by the employer from his employees, and the

tax due from the employer himself must be reported on the monthly return,
and are due and payable at the time fixed for filing the returns.

— oOo—

T m m m

» A i » !
Washington

for m

s

M §

}m w n m m m m m m ,

Tuesday, a p rii 27, 1957.
4/26/57 ‘
.... ...

(

Sere#«*

à - t p

Secretary of thè Treasury Morgenthau announced last erening th&t thè
tendere for tuo serie» of Treaeary bilia, te be dated Aprii SS, 1917, which rare
offered on Aprii SS, ver» opened et thè Federai Resene basica on Agri! 26.
Tenderà vere iurited for thè tee serie« te thè aggregate amount of
#100,000,000, or thereaboete, and #289,790,000 mas applied for, of which
#100,076,000 ees accepted.

The details of thè tee serie« are a« follone:

141-day fmàsmar mis, maturino ssmaiBSR is. itst
For this serie«, which va« for #00,000,000, or thereaboete, thè total
amount applied for va« #150,313,000, of which #50,026,000 va« accepted.

The ac-

eepted bidè raaged in prie# from 99.808, equitàlent to a rate of about 0.690 per*
«est per annusa, te 99.779, equie&lemt te a rate of about 0.566 pereent per annasi,
on a bank discount basi«.
vae accepted.

Only part ef thè amount bid for at thè lattar prie«

The average prie e of Treasury bilie ef this serie« to be issued

le 99.787 and thè arerag» rate 1« about 0.565 pereent per annua on a bank dis
count basi«»

S7S-BAYTmmm

bxus.rnrnmm jwsàm

£6. ìtsa

For this seri««, which vas for #50,000,000, or thereabouts, thè total
amount applied for vae #159,677,000, of which #50,052,000 vas accepted»

The ac

cepted bidè ranged in pricc from 99.525, equiralent te a rate of about 0.629 per
eent per annua, te 99.652, equiralent to a rata of about 0.769 pereent per annua,
on a bank discount balda *
accepted»

Only part of thè amount bid for at thè lattar pricc was

The a verace prie e of Troasury bill« of this serie« to be Issued is 79«

end thè arerage rate is about 0.715 pereent per annua on a bank discount basic*

TREASURY DEPARTMENT

Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday, April 27, 1937»
_____

Press Service
Nc • 10~17

4-26-37.
Secretary cf the Treasury Morgenth.au announced last evening that the tenders
for two series cf Treasury bills, to be dated'April 28, 1937, which were offered on
April 23, were opened at the Federal Reserve banks on April 26.
Tenders were invited for the two series tc: the aggregate amount of
$3.00,000,000,. or thereabouts, and $289,790,000 was applied for, cf which
$10,076,000 was accepted.

The details of the two series are as follows:

141-DAJ TREASURY RILLS, MATURING- SEPTEMBER 16, 1937.
For this series, which was for $50,000,000, or thereabout^, the total amount
applied for was $150,313,000, cf which $50,024,000 was accepted. .The accepted
lids ranged in price from 99.808, equivalent tc a.rate cf about 0.490 percent per
annum, to .99.779, equivalent tc a rate cf abcut 0.564 percent per annum, on a bank
discount basis.

Only part of the amount bid fcr at the latter price was accepted.

The average price of Treasury bills cf this series tc be issued is 99.787 and the
average rate is about 0.543 percent per annum cn a bank discount basis.
273-DAY TREASURY BILLS, MATURING- JANUARY 26, 1938.
Fcr this series, which was fcr $50,000,000, cr thereabouts, the total amount
applied for was $139,477,000,.of which $50,052,000 was accepted.

The accepted

"bids ranged in price from 99.523, equivalent to a rate cf abcut 0.629 percent per
annum, to 99.432, equivalent to a rate cf about 0.749 percent per annum, cn a bank
discount basis.

Only part cf the amount bid fcr at the latter price was accepted.

The average price cf Treasury bills cf this .series tc be issued is 99.458 and the
average rate is about 0.715 percent per annum cn a bank discount basis.
ooOcc

He has lived and painted in the vicinity of

~~ j Hr" '
M~ - f o r

twelve

years•
Mr. Berninghaus was one of the pioneers of the Taos art colony, where
he has been painting since 1898.

He is represented by easel paintings in a

number of permanent museum collections and has executed mural paintings in the
State Capitol of Missouri and other buildings.

TREASURY DEPARTMENT

dUxa^c^

Washington

MAY 3, 1937

re ss i ? f Wcc

0

f-3o-3y.
Two designs by

» LaVerne Nelson Elack^ of Phoenix, Arizona, and

two designs by 0^» Oscar E. Berninghaus^ of Taos, New Mexico, have been chosen
1 o
from among those of twenty-seven artists for the four mural paintings

iWfafco.k .ii.a.ra tn h a % i.lt ia^t.eA.^<"4»tw»‘"geFgt 81111*1u w y "and1
Phoenix^Arizona^ Post Office, Secretary Morgenthau announced today.
x The designs were submitted to the Section of Painting and Sculpture
in the Procurement Division in an anonymous competition.
The mural paintings are each 19^3 wide

4J6^ high and are to be in

stalled on the north and south walls of the two end lobbies.

The two murals

by Mr. Black depict a theme of cattle in Arizona and that of the early settlers,
The two murals by Mr. Berninghaus illustrate communication during the pioneer
days of exploration of the southwest.

The amount to be paid each artist is

|3,400.
The competition held for the painting was^localiy^in charge/of a
committee of which 301 William G. Hartranft, President of the Phoenix Park
Board^was Chairman^ «18» was assisted by

Leslie J. Mahoney of the firm of

Lescher and Majhoney, architects of the building
Mrs. W. K. James

Henry Coerver
CK^ Mrs. Ode Halseth^C

Mr. Black was born April 25, 1887 in the Kickapoo Valley of Wisconsin.
He attended the Chicago Academy and won a scholarship in 1908.

He is a sculptor

as well as a painter and has exhibited his bronzes in Los Angeles and New York.

TREASURY DEPARTMENT
Washington
b0R RELEASE, AFTERNOON NEWSPAPERS,
Monday. May 3« 1937»____________ __
pzo-w. ™

Press Service
No» 10— 18

Two designs "by LaVerne Nelson Black of Phoenix, Arizona, and two designs "by
Oscar E. Berninghaus of Taos, New Mexico, have been chosen from among those of
■twenty-seven artists for the four mural paintings in the Phoenix (Arizona) Post
■Office, Secretary Morgenthau announced today.
Two of the murals are for the east end lobby of the building and two for the
■west end lobby.
The designs were submitted to the Section of Painting and Sculpture in the
¡Procurement Division in an anonymous competition*
The mural paintings are each 19 foot wide by 4 feet 6 inches high and are to
¡"be installed on the north and south walls of the two end lobbies.

The two murals

Iby Mr- Black depict a theme of cattle in Arizona and that of the early settlers.
¡The two murals by Mr. Berninghaus illustrate communication during 'the pioneer
Idays of exploration of the southwest*

The amount to be paid each artist is $3,400.

The competition held for the painting was in charge locally of a committee of
■which William G-. Hartranft, President of the Phoenix Park Board, was Chairman.

He

Iwas assisted by Leslie J, Mahoney of the firm of Lescher and Mahoney, architects of
■the building, Henry Ccerver, Mrs- W-K- James and Mrs. Ode Halseth.
Mr. Black was born April 25, 1887, in the Kickapcc Valley of Wisconsin.
¡attended the Chicago Academy and won a scholarship in 1908,

He

He is a sculptor as

iwell as a painter and has exhibited his bronzes in Los Angeles and New York.

He has

lived and painted in the vicinity of Taos for twelve years*
Mr. Berninghaus was.one cf the pioneers of the Taos art colony, where he has
sen painting since 1898,

He is represented by easel paintings in a number of per

manent museum collections and has executed mural paintings in the State Capitol of
Missouri and other buildings.
ooOoo

R e l e a s e to a . m * s F r i d a y A p r i l 30

A p r i l 29,1937

Br.aaa ^ w pf fha werii of 50 0 A m e r i c a n p a i n t e r s

competing

for the m u r a l to h e u s e d as a b a c k d r o p £n the „ a u d i t o r i u m of the newl
I n t e r i o r D e p a r t m e n t Bui l d i n g , w i l l Tje
ItTTpiwi Iilng— tnrniI

f r o m 9 &#m*,

E d w a r d B r u c e , c h i e f of the

»gennaiftir p w M i ts,

to 12 ncron, it w a s a n n o u n c e d
V\

Iff by

s e c t i o n of P a i n t i n g a nd Sculpture,

P r o c u r e m e n t d i v i s i o n of t h e T r e a s u r y d e p a r t m e n t « T h e exhibit will

painters and archwbrcts w i l l
/persons

thn

v i s i t i n g the e x h ibit o n the f o u r t h f l oor of the!

f r o c ^ g m e n t D i v i s i o n b u i l d i n g at S e v e n t h and D st r e e t s SW, wA&lF%e
to v ote for t h e f l ^ M M M ^ e

artio^>

m

m

1

W h i l e o n l y one c o m p e t i t o r w i l l r e c e i v e r e c o g n i t i o n
in t he

competition fof^the Interior Department

o t h e r c o m p e t i t o r s are

m u ral,

aEien|^§*
-ffvx,
UflA
to be a w a r d e d l e s s e r commissions if

| A
t h eir w o r k is d e e m e d m e r i t o r i o u s b y the c o m m i t t e e «
3 0 ® The

*

six m e m b e r s of t h e ^ m i «ii?1

W a d d y W o o d , a r c h i t e c t of the I n t e r i o r D e p a r t m e n t buildinl
W i l l i a m Z i m m e r m a n of the D e p a r t m e n t of t h e I n t e r i o r jEugene Savage,]
m u r a l p a i n t e r of N e w Y o r k C i t y | A l e x a n d e r B r o o k , p a i n t e r of N e w York
City; H e r m o n M o r e , painxfcx p a i n t e r of N e w Y o r k City, a n d Daniel
C a t t o n Rich,

of the A r t I n s t i t u t e of C h i c a g o «

TREASURY DEPARTMENT
(Procurement Division)

Washington

FOR RELEASE, MORNING NEWSPAPERS,
Friday, Apri1 50, 1957,

Press Service
No* 10-19

4 79 9 737

Designs of 500 American painters competing for the mural to be
used as a backdrop in the auditorium of the new Interior Department
Building

will be on public exhibition daily from 9:00 A.il*. to 12:00

Noon, beginning today, it was announced by Edward Bruce, Chief of
the Section of Painting and Sculpture, Procurement Division of the
Treasury Department*

The exhibit will continue until May 14th.

An

advisory jury of six painters and architects will recommend their
findings to Secretary of the Interior Iekes*
Persons visiting the exhibit on the fourth floor of the Procure
ment Division building at Seventh and D Streets, SW., are invited to
vote for the design they favor*
While only one competitor will receive recognition in the com
petition for the Interior Department mural, other competitors are to
be awarded lesser commissions for other work if their vrork is deemed
meritorious by the committee.
The six members of the advisory jury include
Waddy Wood, architect of the Interior Department building;
William Zimmerman of the Department of the Interior; Eugene Savage,
mural painter of Now York City; Alexander Brook, painter of New York
City; Ilermon More, painter of New York City, and Daniel Catton Rich,
of the Art Institute of Chicago.

A jl

M a y 1,1937

/

/0 " 3t ?

B e c a u s e of c u r t a i l e d a c t i v i t i e s in f e d e r a l b u i l d i n g
constr u c t i o n ,

the P r o c u r e m e n t D i v i s i o n of the T r e a s u r y Department,

t o d a y a n n o u n c e d the d i s m i s s a l of 206 e m e r g e n c y t e c h n i c a l employes,
_>yf i y
S e r v i c e s of the employes w i l l b e t e r m i n a t e d M a y 1 5 , I n c l u d e d in
sent are

the list; to w h o m n o t i c e s w e r e

architects

j
V /

mechanics^and^structural engibeers,
Le t t e r s a d d r e s s e d to the e m p l o y e s p o i n t e d out that the
%
t e r m i n a t i o n of t h eir s e r v i c e s » g — i i W Y T i j r i M n y i ? w a s b e c a u s e of
r e d u c e d f e d e r a l b u i l d i n g a c t i v i t y and for no o t h e r c a u s e 0
R a & 0Kfc±0K T h e p r e s e n t r e d u c t i o n in the f o r c e of
e m e r g e n c y t e c h n i c a l e m p l o y e s leav e s a f o r c e of 2 95 w o r k e r s

still

employed •
E x p a n s i o n of the p u b l i c b u i l d i n g s b r a n c h of the Procureial
*

D i v i sion,

u n d e r the P u blic W o r k s A d m i n i s t r a t i o n u n d e r the N.I.R.A.,

of June 16,1933. a nd the E m e r g e n c y C o n s t r u c t i o n P r o g r a m s of 1934,19351

*
teshnical
1
and 1936 was responsible for the increased number of/employes,±Jirf
These changes do not effect the permanent staff of
t e c h n i c a l e m p l o y e s or the t e m p o r a r i l y e m p l o y e d 21 a r c h i t e c t u r a l
e n g i neers©
■IK
T he p e r m a n e n t

staff

b

n o w n u m b e r s 1 77 a r c h i tects,

58

s t r u c t u r a l e n g i n e e r s , 55 m e c h a n i c a l and e l e c t r i c a l e n g i n e e r s and 28
architectural engineers©

s

TREASURY DEPARTMENT
(Procurement Division)
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Saturday, May 1, 1937.
4-30-37

Press Service
No. 10-20

Because of curtailed activities in federal building construction, the
Procurement Division of the Treasury Department today announced the dismissal
of 206 emergency technical employees.
terminated May 15th.

Services of the employees will be

Included in the list to 'whom notices were sent are

144 architects, 41 mechanical and electrical engineers and 21 structural
engineers•
Letters addressed to the employees pointed out that the termination of
their services was because of reduced federal building activity and for no
other cause.
The present reduction in the force of emergency technical employees
leaves a force of 295 workers still

omployod*

Expansion of the public buildings branch of the Procurement Division,
under the Public Works Administration under the N.I.R.A., of June 16, 1933,
and the Emergency Construction Programs of 1934, 1935 and 1936 was responsible
for the increased number of technical employees.
These changes do not affect the permanent staff of technical employees
or the temporarily employed 21 architectural engineers.
The permanent staff now numbers 177 architects, 58 structural
55 mechanical and electrical engineers and 28 architectural engineers.
-- 0O0 —

engineers,

T g E S M DSPARmSNT
WàSHUT/TOK

K B R8LI1S3, MOSTO© TOSPÀPSR3,
Tuesday, May 4* 1937«

Frese Servi®«

■ » kiwiImi« iiiwiiiÉiiiiWli'iwiiii«H rtÉi«Mn >i|w»»iw » i im i' nmm mmmm

5/3/37
Acting Secretary of the Treasury Taylor announced last evening that the
tenders for two series of Treasury bills, to he dated May 5, 1937» which were
offered on April 30, were opened at the federal Reserve banks on Hay 3*
Tenders were invited for the two series to the aggregate amount of
#100,000,060, or thereabouts, and #337,#39,000 was applied for, of whleh
#100,059,000 was accepted*

The details of tho two sorios are ae follows:

135-p a y n m m m r

bills, maturing

Se p t e m b e r 1 7 , 1937

For this sorlss, whleh was for #50,060,000, or thereabouts, the total amount
applied for was #133,380,660, of whleh #50,045,000 mas accepted*

The accepted

bids ranged In price from 99*974» equivalent to a rate of about 0*0#9 percent per
annum, to 99*788, equivalent to a rate of about 0*565 percent per annum, on a
bank discount basis*
aecepted*

Only part of the amount bid for at the latter price was

The average price of Treasury bills of this sorlss to be issued is

99*801 and the average rate is about 0*551 peresnt per annum on a bank discount
basis*
373-PAY TKKASQBY m i 3 * M A T P i t m fglBOART 3, 1938
For this scries, which was for #56,000,000, or thereabouts, the total amount
applied for was 1135,389,000, of which #50,014,000 was accepted*

The accepted

bids ranged in price from 99*631, equivalent to a rate of about 0*500 percent per
annum, to 99*418, equivalent to a rate of about 0*767 percent per annum, on a
bank discount basic*
accepted*

Only part of the amount bid for at the latter price was

The average price of Treasury bills of this series to bo issued is

99*440 and tho average rats is about 0*738 percent per annum on a bank discount
basis

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, ;Mav 4, 1937.___________
5-3-37i

Dress Service
No. 10-21

Acting Secretary of the Treasury Taylor announced last evening that the
tenders for two series of Treasury hills, to he dated May 5, 1937, which were
offered on April 30, were opened at the Federal Reserve hanks on May 3,
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, aid $267,669,000 was applied for, of which
$100,059,000 was accepted.

The details cf the two series are as fellows:

135-DAY TREASURY RILLS, MATURING SEPTEMBER 17, 1937.
For this series, which was for $50,000,000, or thereabouts, the total
amount applied for was $132,280,000, cf which $50,045,000 was accepted.

The

accepted bids ranged in price from. 99.974, equivalent to a rate of about 0.069
percent per annum, to 99.788, equivalent to a rate cf about 0.565 percent per
annum, on a bank discount basis.
price was accepted.

Only part of the amount bid for at the latter

The average price cf Treasury bills of this series to be

issued is 99.801 and the average rate is about 0.531 percent per annum on a bank
discount basis.
273-DAY TREASURY BILLS,

MATURING FEBRUARY 2, 1938

For this series, which was for $50,000,000, or thereabouts, the total
amount applied for was $135,389,000, of which $50,014,000 was accepted.

The

accepted bids ranged in price from 99.621, equivalent to a rate of about 0.500
percent per annum, to 99.418, equivalent to a rate of about 0.767 percent per
annum, on a bank discount basis.
price w as.accepted.

Only part cf the amount bid for at the latter

The average price of Treasury bills cf this series tc be

issued is 99.440 and the average rate is about.0.738 percent per annum on a bank
discount basis.

coOoo

- 4 -

teaching program, so that mental and physical development will go hand in
hand*
^Sixth* Help promote in your community a health service which
will supplement your individual efforts and provide for the whole community
a higher standard of good health*^
wIf these points are covered thoroughly," ^ c t oryParran concluded,
«if you, as actively interested members of the Parents and Teachers Associa
tion, concentrate on the adoption of child health methods as an interlocking
community and personal problem - the health of your family and your community
will show a climbing trend on one and the same arc*«
rOf""P9^ents said Teachers is making its headq^xarters at the John Marshall Hotel in Richmond, Virginia.
LI be in session from yesterday (May 3rd) to May 7th.
Le Place of the Home in the Community*"

The Congress

Its major theme is

Speakers beside Doctor ParranAn-j

Lude:
Doctor Homer P. Rainey, Washington, D. C.,
Director, American\£outh Commissi
Hon. Harold L* Ickes,
Secretary of the Interior.
J. W. Studebaker, Washington, D* C2
/
\
United States Commissioner of Education,
Lindeman, Hew York City,
Professor of Social Philosophy, New
Judge Florence E. Allen, Cleveland, Ohio,
U. S. Circuit Court of Appeals*

University,

- sheavy metal, given concurrently or in alternative courses.

The results to

the infant are in direct proportion to the duration of pregnancy at the
time treatment is begun, and something may be accomplished

ip -frhft 1 ««+

months of pregnancy. »
T.aoTHng 4-fa,
digressed a minute to point out the insidious corollaries of this
type of disease.

»The New York Tuberculosis and Health Association,” he

said, »recently haj^analyzed the cases of eye diseases in five instituting
in New York City in which t h ë ^ ^ s g ases «re being tpefttetfT Of 2,237
routine Wassermann tests done on patjgntgr l44%Ba!><^2D per cent gave a posi
tive reaction.

The

Doctor

Summing up, iDoctor)Parran lay down six rules, in the observation
of *hict^JS>ers of the Parents and Teachers Associations could do much to
accomplish some of the objectives for better child health*
^febrst.

See that your child is well born, - that you have good

prenatal obstetrical care, that your child is free from the germs of syphilis«
Second.

Secure expert medical advice and guidance in the care

and feeding of your baby.
*feird.

Protect him against diphtheria and smallpox.

There are

simple methods of immunizing against these diseases.
^Fourth. Start your child to school in good health.

The Summer

Round-Up is a good form of health insurance.
Fmfth.

Insist upon a good school medical, nursing, and health

-

Congenital debility*.

z

-

These three classifications together account for

51,268 deaths or approximately 50 per cent of the total under five years
of age.

Miile it is impossible to say how many of -these deaths had syphilis

as their underlying cause, it is certain that a very large proportion of
them had a syphilitic background.

It is furthermore conservatively esti

mated that there are at least 25,000 fetal deaths each year due to syphilis,
and that one child in every 60 has this virus of syphilis in its body.
Consider further that^ although syphilis Is rarely put on the death certificate,
1,809 deaths from syphilis were reported in 1934 in children under five
years of age
**If parents were free from syphilis there would be no hereditary
syphilis in 1n

f

n

r

1

m u n i t r a t t a c k

on childhood

syphilis, therefore, must take cognizance not only of the child but especially
of his antecedents.

Demanding that each party to a marriage contract be free

from the disease in an infectious form should contribute materially to the
elimination of hereditary syphilis.

Adequate treatment of all prospective

parents, whether or not they are able to pay for such treatment, would follow
in logical sequence.

Facilities for treatment at public expense where necessary

are indispensable to such a policy.11
Quoting from the Proceedings of the Conference on Venereal Disease
Control Work held in Washington in December 1956, (DoctorJParran

w ^
e ^ e v e n t e d with almost absolute certainty if, beginning not
rmnmi

later than the fifth month of pregnancy, the syphilitic mother receives a
minimum of twenty weeks of continuous treatment with an arsphenamine and a

Treasury Department
Public Health Service
VN

—1 9tifori&fa
flatien«l €>¥3d>

^y^t/ f ù ' % A

FOR IMMEDIATE RELEASE

venereal disease into the home and community, Doctor Thomas Parran, Surgeon ^

were 175,560 deaths in this age group.

Disorders of early infancy, including

premature birth and general debility, congenital malformations, and birth
injuries, accounted for 66,291 of these deaths, or 58.6 per cent, while
communicable and preventable diseases were responsible for at least 75,660
or 42.5 per cent.^
"Every one knows that syphilis is rarely called by its real name
in the mortality records when any other name can be assigned as the cause
of death.

It has been pointed out that the records for 1954 show 66,291

or 58.6 per cent of all deaths under five years of age are classed as dis
eases of early infancy.

This figure, further broken down, credits 55,102

to ‘premature death*, 11,945 to congenital malformations, and 4,225 to

A s a f u r t h e r s t e p in c a r r y i n g the educational
p r o g r a m of the U n i t e d S t a t e s P u b l i c H e a l t h
v e n e r e a l d i s e a s e into the h o m e

the a g e group b e l o w

the N a t i o n a l

the i n c i d e n c e of deaths

h e a l t h and,

C o n g r e s s of

f r o m s y p h i l i s in

five

years*
at R i c h m o n d , V a * ,
M e e t i n g / i n its f o r t y - f i r s t conv e n t i o n ,

C o n g r e s s h a s as its t h eme the r e l a t i o n s h i p
community*

against

and c ommunity, S u r g e o n G e n e r a l

Thomas P a r r a n t o d a y e x p l o r e d b e f o r e
P a r e n t s and T e a c h e r s

Service

of the

home

the

aid the

Dr* P a r r a n d i s c u s s e d the g e n e r a l s u b j e c t of child
according

to o f f i c e r s of the C o n g ress,

g a v e its

m e m b e r s f o r the f i r s t time

an i n d i c a t i o n of the e f f e c t of

v e n e r e a l d i s e a s e s u p o n the

inf e ncy age g r o u p *

TREASURY DEPARTMENT
(U.S. Public Health Service)
Washington
FOR IMMEDIATE RELEASE

Press Service
Na10-22

As a further step in carrying the educational program of the United
States Public Health Service against venereal disease into the home and
community, Surgeon General Thomas Parran today explored before the National
Congress of Parents and Teachers the incidence of deaths from syphilis in
the age group below five years.
Meeting at Richmond, Ya., in its forty-first convention, the Congress
has as its theme the relationship of the home and the community.

Dr. Parran

discussed the general subject of child health and, according to officers of
the Congress, gave its members for the first time an indication of the effect
of venereal diseases upon the infancy age group.
"During 1934,” Dr. Parran said, "there were 173,360 deaths in this age
group.

Disorders of early infancy, including premature birth and general

debility, congenital malformations, and birth injuries, accounted for 66,291
of these deaths, or 38..6 per cent, while communicable and preventable diseases
were responsible for at least 73,660,or 42.5 per cent,
"Every one knows that syphilis is rarely called by its real name in
the mortality records when any other name can be assigned as the cause of
death.

It has been pointed out that the records for 1934 show 66,291 or

38.6 per cent of all deaths under five years of age are classed as diseases
of early infancy.

This figure, further broken down, credits 35,102 to

’premature death,’ 11,943 to congenital malformations, and 4,223 to’congenital
debility.’

These three classifications together account for 51,268 deaths or

approximately 30 per cent of the total under five years of age.

While it is

2

~

impossible to say how many of these deaths had syphilis as their -underlying
cause, it is certain that a very large proportion of them had a syphilitic
background.

It is furthermore conservatively estimated that there are at

least 25,000 fetal deaths each year due to syphilis, and that one child in
every 60 has this virus of syphilis in its body.

Consider further that,

although syphilis is rarely put on the death certificate, 1,809 deaths from
syphilis were reported in 1934 in children under five years of age.
MIf parents were free from syphilis there would be no hereditary
syphilis in infants.

The attack on childhood syphilis, therefore, must take

cognizance not only of the child but especially of his antecedents.

Demand

ing that each party to a marriage contract be free from the disease in an
infectious form should contribute materially to the elimination of hereditary
syphilis.

Adequate treatment of all prospective parents, whether or not they

are able to pay for such treatment, would follow in logical sequence.

Facil

ities for treatment at public expense where necessary are indispensable tc such
a policy.1*
Quoting from the Proceedings of the Conference on Venereal Disease
Control Work held in Washington in December, 1936, Dr. Parran stressed possible
prevention of congenital syphilis.

"This disease," he said, "may be prevented

with almost absolute certainty if, beginning not later than the fifth month of
pregnancy, the syphilitic mother receives a minimum of twenty weeks of con
tinuous treatment with an arsphenamine and a heavy mptal, given concurrently
or in alternative courses.

The results to the infant are in direct proportion

to the duration of pregnancy at the time treatment is.begun, and something may
be accomplished, even in the last months of pregnancy."

3
«

Summing up, Dr. Parran lay down six rules, in the observation of
which he said members cf the Parents and Teachers associations could do
much to accomplish some cf the objectives for better child health:
First.

See that ycur child is well born - that you have good

•prenatal obstetrical care, that your child is free from the germs of
syphilis.
Second.

Secure expert medical advice and guidance in the care a n d .

feeding of your baby.
Third.

Protect him against diphtheria and smallpox.

There are

simple methods.of immunizing against these diseases.
Fourth.

Start ycur child to school in good health.

The Summer

Round-Up is a good form of health insurance.
Fifth.

Insist upon a good school medical, nursing, and health

teaching program, so that mental and physical development will go hand in
hand*
Sixth.

Help promote in ycur community a health service which will

supplement ycur individual efforts and provide for the whole community a
higher standard of good health.
ftIf these points are covered thoroughly,11 Dr. Parran concluded,
"if you, as actively interested members of the Parents and Teachers Asso
ciation, concentrate on the adoption of child health methods as an inter
locking community and personal problem - the health of your family and ycur
community will show a climbing trend on one and the same arc.Tf

cOc— t

îfHS&30RY sœ u ra iM P
r a wituBS, m m r n n n
Tuesday* !4&y IX* 1937«
5 /1 0 /3 7

fres* Sonriot

m m ,
_____ _

/

&

~~

Il U

Seoretary of t o îkeasury Morgeutbau announced U t t evenlm tfeat tfes tenders
for two series of Treasury H lift» to to dated May 18, 198?, wbloh wsr* offered oa
May ?» m r * opsaed at the Yedsral Reserve banks ou Ifey 10*
Tenders œ r e invited for the two series to the aggregate aaount of
$100,000,000» or thereabouts, and #808,854,000 m i applied for, of Uhlaà
$100,090,000 «is aeoepted.

The details of the too ««ri*« are a« folle** s

lat-aiy maaciwr m i s . w m w x m s K P t m m i S I H 1

tbr this series, utiish was for $00,000,000, or thereabouts, the total amount
applied for ma $188,198,000|; of nhish #00»Off ,000 was aoespted.

Th# aeospted

M d s raured la pries from 99* Off, equivalent to a rat* of a toot 0*489 portât ft
aassun, to 99.812, equivalent to a rat* of about # * i ü percent par a n a m , cm a
bank discount basis.
accepted.

Only part of the amount bid for at the latter prise was

The average prias of Treasury bills of this series to bo issued is

99.820 and tbs average rats is about 8.80? partout por annua m

a bask disoount

basis*

im -m t tm m m t mtm.* wmmm mmmm 9. i9S8
For this ssriss, «blob m s far # 80,000,000, or thereabouts, tbs total
appllsd for m s 1164,868,000» of m t s h $ S 0 ,029,000 m s asosptsd.

The aoasptsd

bids rasgad is pries t r m 99.810» equivalent to a rat* of about 0.688 percent ft
assus, to 9 9 .4 8 4 , squivalsat t© a rata of about 0*946 psreoat por asuran, ©s a twl
discount basis.

Oaly part of tbs amount bid for at tbs latter pris# was acceptai.

The average pries of Treasury bills of ibis series to bs issued is

99.488 and % f

arara go rats is about 0*928 percent par ostium os a bank disoouut basis*

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS >
Tuesday, May 11, 1937.__________
5-10-37,

Press Service
No. 10-24

Secretary of the Treasury Morgenthan announced last evening that the ten
ders for two series of Treasury hills, to he dated May 12, 1937, which were
offered on May 7, were opened at the Federal Reserve hanks on May 10.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $302,534,000 was applied for, of which
$100,099,000 was accepted.

The details of the two series are as follows:

128-DAY TREASURY BILLS, MATURING SEPTEMBER 17, 1937.
For. this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $138,172,000, of which $50,072,000 was accepted.

The accepted

bids ranged in price from 99.826, equivalent to a rate of about 0.489 percent
per annum, to 99.812,_equivalent to a rate of about 0.529 percent per annum, on
a bank discount basis.
accepted,

Only part of the amount bid for at the latter price was

^he average price of Treasury bills of this series to be issued is

99.820 and the average rate is about 0.507 percent per annum on a bank discount
basis.
273-DAY TREASURY BILLS, MATURING FEBRUARY 9, 1938
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $164,362,000, of which $50,027,000 was accepted. _The accepted
bids ranged in price from 99.520, equivalent to a rate of about 0.633 percent
per annum, to 99.434, equivalent to a rate of about 0.746 percent per annum,
on a bànk discount basis.
was accepted.

Only part of tne amount bid for at the latter price

The average price of Treasury bills of this series to be issued

is 99.452 and the average rate is about 0,723 percent per annum on a bank dis
count basis.

Till i |i

t,

Tnn~

y\s^n
/'

! <t/_- i'- r < ^ p7

ri/ tCj 2

'"a-j

7

The it in e r a r y of the 1937 cadet cru ise
of the United S ta te s Coast Guard was announced today
by the Commandant, Rear Admiral R. R* Waesche *
Seventy-two cadets from the Coast Guard
Academy a t Kew London, Conn., w i l l be aboard the cutters
GKfiRGE W. CAMPBELL and CAYUGA in th is y e a r ’ s c r u is e ,
r w

which w i l l ^ e n t e r in the M editerranean se a , f o r practice
Y ¡1 vz-PA g

ITncl e r o p er a t I^^igroifditTOimT0" .. '
Under command of Capt« E. D. ¿Tone/,
academy superintendent, the two c u tt e r s w i l l
from New London June 5 fo r M a r s e ille s , France«

T^e

schedule i s then as fo llo w s :
idepart
A rriv e M a rse ille s June 1 8 ,/Slim * "June 24;
a rriv e V enice, I t a l y , June 28, depart July 5$

a rrive

Ragusa, Y u go sla via , Ju}y 7 , d ep a rt, July 1 1 ; a rriv e
P a tr a s , G reece, July 12 , depart July 15; a r r iv e Algiers,|
A lg e r ia , July 19 , depart July 23; a r r iv e New London
Aug« 5«

In immediate command of the CAMPBELL
w i l l be Commander R. L . Lucas and of the CAYUGA Commander
F. J . Sexton«
— cs

TREASURY DEPARTMENT
Washington

FOR RELEASE, AFTERNOON NEWSPAPERS,
Friday, May 7, 1937, ____________
5-6-37.

Press Service
No, 10-23

The itinerary of the 1937 cadet cruise of the United States.Coast Guard
was announced today by the Commandant, Rear Admiral R.R. Waesche,
Seventy-two cadets from the Coast Guard Academy at New London, Conn.,
will be aboard the cutters GEORGE W, CAMPBELL and CAYUGA in this year*s cruise
which will center in the Mediterranean Sea, for practice in seamanship,
navigation and engineering under operating conditions.
Under command of Capt. E.D. Jones, academy superintendent, the two
cutters will depart from New London June 5 for Marseilles, France.

The-

schedule is then as follows:
Arrive Marseilles June 18, depart June 24; arrive Venice, Italy, June 28,
depart July 5; arrive Ragusa, Yugoslavia, July 7, depart July 11; arrive
Patras, Greece, July 12, depart July 15; arrive Algiers, Algeria, July 19,
depart July 23; arrive New London August 5#
In immediate command of the

CAMPBELL will be Commander R.L. Lucas and

of the CAYUGA Commander F.J. Sexton.
ooOoo

ip
jEugeie Black, Chairman of the United States Board of Tax Appeals,
announced! today that after consultation with Roswell Magill>s Under
\
Secretar^of the Treasury, he had appointed a jwiawb eoBmittoo i OG*~’~*pO
^«bedteiaisse^ three members of the Boardj« i ^ E r :
ee"^mbers^ of\^|^staff _
of the Chief Counsel of the Bureau orxnternal Revenu§?ft ffa&Ss
the rules and procedure of the ¡Board with the object or making recommen
dations which would result in expediting the disposition of tax cases
pending before the Board.

The members of the committee, which held its first meeting today,
are Logan Morris, J. Edgar Murdock, and C. Rogers Arundell of the Board,
and Russell Ryan, P. C. Alexander and Stanley Surrey of the Chief
Counsel’s office. YVVv * Y V W V va*# u n s u o
.¿A/wsgu^.
yVw4W
a a i a
k
f
Between five' and six thousand eases involving asserted deficiencies
are taken to the Board on appeal annually. Experience has shown thajj.,*
the number which the Board can hear and decide on the merits is -¿»«ere
tiwm 1100 a year. In spite of determined efforts in recent years to
reduce the number of pending cases by negotiation and agreement the Board
on January 31, 1937, had pending 8,644 cases representing asserted defi
ciencies in the amount of #506,000,000. The number of pending cases
has been substantially reduced in recent years. At the end of the
fiscal year 1928 there were 21,639 cases pending. Pour years later
the number of cases pending was 18,937, and there were 16,502 cases
pending on June 30, 1933. The reduction has been accomplished through
the efforts of the QfcMflMinrfnrthiiiiliii Board in cooperation with the General
Counsel of the Treasury Department and the Chief Counsel of the Bureau.
j

The Committee will examine the statutes relating to proceedings
before the Board and also the rules and general procedure of the Board.
It is hoped to reduce substantially the number of cases requiring hear
ings by causing agreement and stipulation as to facts in a greater number
of cases and by other changes in procedure which will expedite settlement.
Chairman Black announced that he hoped the Committee would be able
to obtain material assistance in its work from attorneys who appear before
the Board in behalf of taxpayers. He invited: attorneys and taxpayers to
submit suggestions relating to the Board’s procedure to him for trans
mission to the Committee.

TREASURY DEPARTMENT
ITashington
Press Service
Ho. 10-25

for i m m e d i a t e r e l e a s e ,

Tuesday, May 11, 1937*

Eugene Black, Chairman of the United States Board of fax Anneals, announced
today'that after consultation with Roswell MagiXI» Under Secretary,and Herman
Oliphant, General Counsel of the Treasury, he had appointed three members of

Bureau of Internal Revenue as a joint committee to consider the rules and procedure
of the Board with the object of making recommendations which would result in
expediting the disposition of tax cases pending before the Board.
The members of the committee, which held its first meeting today, are Logan
Morris, J. Edgar Murdock, and G. Rogers Arundell of the Board, and Russell Ryan,
P.C, Alexander and Stanley Surrey of the Chief Counsel’s office. _Mr. Morris was
elected Chairman and Mr. Surrey, Secretary of the joint committee.
Between five and six thousand cases involving asserted deficiencies are taken
to the Board on appeal annually.

Experience has shown that the number which the

Board can hear and decide on the merits is approximately 1600 a yea.r.

In spite of

determined efforts in recent years to reduce the number of pending cases by
negotiation and agreement the Board on January 31, 1937, had pending 8,644 cases
representing asserted deficiencies in the amount of $506,000,000.
pending cases has been substantially reduced in recent years.
fiscal

year 1928 there were 21,639 cases pending.

The number of

At the end of the

Eour years later the number of

cases pending ?/as 18,937, and there were 16,502 cases pending on June 30, 1933.
The reduction has been accomplished through the efforts of the Board in cooperation
with the General Counsel of the Treasury Department and the Chief Counsel of the
Bureau.

~ 2~
The Committee will examine the statutes relating to proceedings before the
Board and also the rules and general procedure of the Board.

It is hoped to

reduce substantially the number of cases requiring hearings by causing agreement
and stipulation as to facts in a greater number of cases and by other changes in
procedure which will expedite settlement.
Chairman Black announced that he hoped the Committee would be able to obtain
material assistance^ in its work from attorneys who appea.r before the Board in
behalf of taxpayers.

He invited attorneys and taxpayers to submit suggestions

relating to the Board’s procedure to him for transmission to the Committee.

00 O00

TREASURY DEPARTMENT
Bureau of Internal Revenue
Washington, D.C..

FOR RELEASE, MORNING NEWSPAPERS,
Wednesday, May 12, 1937.

Press Service
No. 10-26

Thirty-seven Internal Revenue Agents in Charge, representing all districts
in the Continental United States and Alaska, are in Washington for a four-day
conference with officers of the Treasury Department and the Bureau of Internal
Revenue, the object of which is to expedite and to improve the efficiency of the
field audit of income tax returns.
Secretary Morgenthau will greet the field officers at a meeting at 10
o’clock this morning, following -which the problems which are to come before the
conference will be discussed by Under Secretary Magill, Commissioner Helvering
and Deputy Commissioner Charles T, Russell.
Commissioner Helvering, who arranged the program for the conference, has
appointed seven committees to consider specific topics, and a general advisory
committee consisting of Deputy Commissioner Russell, Milton E. Carter, Assistant
to the Commissioner, Morrison Shafroth, Chief Counsel, and Aubrey R. Marrs, Head
of the Technical Staff of the Bureau,
The topics to be considered include further decentralization and improved
methods of field investigations, field conference and review procedure and field
settlement of claims.
Field examinations of the income, tax returns for the calendar year 1935
are nearing completion and the force of internal revenue agents will take up the
investigation of 1936 returns on July 1st next.
"The field forces under the jurisdiction of the Internal Revenue Agents
in Charge", said Commissioner Helvering, "have performed a notable feat in bring
ing their work up to date and at the same time discovering additional revenue
available for collection amounting to $222,099,314.64 in the last fiscal year."
— oOo—

U is L o V X U

A i i v i U d

vm v

v u iu u x

x

o J W i .i i a

18

INSOLVENT NATIONAL BANKS
COMPLETELY LIQUIDATED AND FINALLY CLOSED
MONTH OF APRIL 1937
DISPOSITION OF TOTAL COLLECTIONS

DISPOSITION OF TOTAL LIABILITIES

H
D

A
B
C
D

-

Dividend Payments
Other Cash Payments
Offsets Allowed
Unpaid Liabilities

$2,922,999
$1,710,868
$ 423*016
$1,128,668

TREASURY DEPARTMENT
Office of the Comptroller of the Currency

47*3#
27*7%
6.8%
18.2%

E
F
Q
H

»
-

Dividend Payments
Other Cash Payments
Returned to Shareholders
Expense of Liquidation

$2,922,999
$1,710,868
$
7*209
$ 509.U5

56 .8%
33*2%

.1%
9.9%

INSOLVENT NATIONAL BANKS LIQUIDATE© AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
______________
APRIL, 1957_____________________

Date of
Failures
First
First
First
First
First

National
National
National
National
National

Bank,
Bank,
Bank,
Bank,
Bank,

First
First
First
First
First

National
National
National
National
National

Bank in Poultney, Vermont
Bank, Rockwell, Iona
Bank, Tilden, Nebraska
Bank, Brookhaven, Mississippi
Bank, Flandreau, South Dakota

First National Bank,
Montesuma Valley NB,
First National Bank,
First National Bank,
First National Bank,

Kanawha, Iona 2 /
Perry, Oklahoma 2/
Silverton, Texas 2/
Samson, Alabama
Eaton Rapids, Mich* 2 /

10-7-33
4-9-34
6-5-33
1 - 8-30
3-5-34

Campbell, Missouri
Cortez, Colorado 2/
Manoos, Colorado 2 /
West Salem, Illinois
Colony, Kansas

First National Bank, St* Francis, Kansas
First National Bank, Meadow, Texas 2/
First National Bank, Brighton, Mioh.*!^/

2/

Total
Disbursements
Including
Offsets Alloweds
$

167 ,081.00
499.876.00
136 ,sail..00
95 ,405.00
599,868*00

Per Cent
Total Disbursements
to Total
Liabilitiess
IO5 .O5 IO3 .I1I4.

68.02
63.83
106.29

6-20-30
3-30-31
1 1 -17 -3 1
1 -13 -3 1
1 1 -3-32

70^, 862.00
12 1 ,916.00
153 ,257.00

82.63
6 3 .19
73.42

759.oi4.oo

70*37

301,048.00

8 6 .1

11 -24-30
8-I8-33

75,320.00

4 7.33
9 8 .31

10-9-33
11-13-30
8-14-31

«

0

0

11-3-32
10 -2-33
10-9-33

235,022.00

184,132.00
85,139.00

28,419.00
181,823.00

Formerly in Conservatorship*

91.08
62.02

60.36
83.74
55.6
^ 107.32

Per Cent
Dividend
Declared
to All
Claimants s

110 .2 5
107.5
28.45
39.7

10 9.162
7 8 .7 1
55.33

68 .15
54.42
80.19
16 .
95.51
70.
42.43
27.35
76.17
37.05

10 9.6

Capital
Stock at
date of
Failure:
$ 50,000.00
50,000.00
30,000.00
100,000.00
50,000.00

Cash and
other Assets
returned to Share1
holders* Agent:
$

1*8,269.00
—0—
-O-036,447.00

100,000.00
25,000.00
50,000.00
100,000.00
2*0,000.00

•0—
•0*
—0—
<*0—
■0*

1*0,000.00
30,000.00
50,000.00
25,000.00
25,000.00

«■0*.
-0•O«»
-0-

25,000.00
25,000.00
35,000.00

-0«0—
42 ,791.00

%4

- 5 -

Shareholders received cash and other assets of an estimated value of
$42,791.

- 4 -

receivership October 9, 1933.

Depositors and other creditors received, in

cluding offsets allowed, $412,423, representing 91*08 per cent of total
liabilities.

Unsecured depositors received 70 per cent of their claims.

FIRST NATIONAL BANK, WEST SALEM, ILLINOIS.
This bank: was placed in receivership November 18, 1930.

Depositors and

I

other creditors received, including offsets allowed, $184,132, representing
62.02 per cent of total liabilities.

Unsecured depositors received 42.43

per cent of their claims.
FIRST NATIONAL BANK, COLONY, KANSAS.
This bank was placed in receivership August 14, 1931.

Depositors and

other creditors received, including offsets allowed, $85,139, representing
60*36 per cent of total liabilities.

Unsecured depositors received 27*35 per

cent of their claims.
FIRST NATIONAL BANK, ST. FRANCIS, KANSAS.
This bank was placed in receivership November 3, 1932.

Depositors and

other creditors received, including offsets allowed, $235,022, representing
83.74 per cent of total liabilities.

Unsecured depositors received 76.17 per

cent of their claims.
FIRST NATIONAL BANK, MEADOW, TEXAS.
This bank was formerly in conservatorship.
receivership October 2, 1933.

It was finally placed in

Depositors and other creditors received, including I

offsets allowed, $28,419, representing 55.6 per cent of total liabilities.

Nn- I

secured depositors received 37.05 per cent of their claims.
FIRST NATIONAL BANK, BRIGHTON, MICHIGAN.
This bank was formerly in conservatorship.
receivership October 9, 1933.

It was finally placed in

Depositors and other creditors received, including!

offsets allowed, $181,823, representing 107.32 per cent of total liabilities.
Unsecured depositors received 100 per cent principal plus 9.6 per cent interest.

- 3 -

FIRST NATIONAL BANK, TILDEN, NEBRASKA.
This hank was placed in receivership November IT, 1931.

Depositors and

other creditors received, including offsets allowed, $153,257, representing
73.42 per cent of total liabilities.

Unsecured depositors received 68.15

per cent of their claims.
FIRST NATIONAL BANK, BR00KHA7EN, MISSISSIPPI.
This bank was placed in receivership January 13, 1931.

Depositors and

other creditors received, including offsets allowed, $759,014, representing
70.37 per cent of total liabilities.

Unsecured depositors received 54.42

per cent of their claims.
FIRST NATIONAL BANK, FLANDREAU, SOUTH DAKOTA.
This bank was placed in receivership November 3, 1932.

Depositors and

other creditors received, including offsets allowed, $301,048, representing
86.1 per cent of total liabilities.

Unsecured depositors received 80.19

per cent of their claims.
FIRST NATIONAL BANK, CAMPBELL, MISSOURI.
This bank was placed in receivership November 24, 1930.

Depositors and

other creditors received, including offsets allowed, $75,320, representing
47.33 per cent of total liabilities.

Unsecured depositors received 16 per

cent of their claims.
MONTEZUMA TALLEY NATIONAL BANK, CORTEZ, COLORADO.
This bank was formerly in conservatorship.
receivership August 18, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $355,394, representing 98.31 per cent of total lia
bilities.

Unsecured depositors received 95.51 per cent of their claims.

FIRST NATIONAL BANK, MANCOS, COLORADO.
This bank was formerly in conservatorship.

It was finally placed in

-

2

-

additional dividend of 7.5 per cent.
PIKST NATIONAL BANK, SILVERTON, TEXAS.
This bank was -formerly in conservatorship.
in receivership June 5, 1933.

It was finally placed

Depositors and other creditors received, in

cluding offsets allowed, $136,884, representing 68.02 per cent of total
liabilities*

Unsecured depositors received 28.45 per cent of their claims.

PIKST NATIONAL BANK, SAMSON, ALABAMA.
This bank was placed in receivership January 8, 1930.

Depositors and

other creditors received, including offsets allowed, $95,405, representing
63.83 per cent of total liabilities.

Unsecured depositors received 39.7 per

cent of their claims.
FIRST NATIONAL BANK, EATON KAPIDS, MICHIGAN.
This bank was formerly in conservatorship.
receivership March 5, 1934.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $559,868, representing 106.29 per cent of total
liabilities.

Unsecured depositors received 100 per cent principal plus an

additional dividend of 9.162 per cent interest.

Shareholders received cash

and other assets of an estimated value of $36,447.
FIRST NATIONAL BANK IN PGULTNEY,VERMONT.
This bank was placed in receivership June 20, 1930.

Depositors and

other creditors received, including offsets allowed, $704,862, representing
82.63 per cent of total liabilities.

Unsecured depositors received 78.71

per cent of their claims.
FIRST NATIONAL BANK, ROCKWELL, IOWA.
This bank was placed in receivership March 30, 1931.

Depositors and

other creditors received, including offsets allowed, $121,916, representing
63.19 per cent of total liabilities.
cent of their claims.

Unsecured depositors received 55.33 per

TREASURY DEPARTMENT
Washington
EOR RELEASE MORNING- NEWSPAPERS,
^?i'

nte&jtT y

Press Service

I
‘ <3

<u-t^

Io

J. F. T. 0*Connor, Comptroller of the Currency, today announced the
completion of the liquidation of 18 receiverships during the month of April,
1937.

This makes a total of 646 receiver sl$ps finally closed or restored to

solvency since the Banking Holiday of March» 1933.

Total disbursements,

including offsets allowed, to depositors afrid other creditors of these 646
receiverships, exclusive of the 42 restored to solvency, aggregated
$217,399,942.00, or an average return of 79.41 per cent of total liabilities,
while unsecured creditors received dividends amounting to an average of 67.48
per cent of their claims.

Dividends distributed to creditors of all active

receiverships during the month of April, 1937, amounted to $2,762,447.00.
Total dividends paid and distributions to depositors of all receiverships from
March 16, 1933, to April 30th, 1937, amounted to $855,560,040.00.

FIRST NATIONAL BANK, KANAWHA, IOWA.
This bank was formerly in conservatorship.
receivership October 7, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $167,081.00, representing 105.05 per bent
of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 10.25 per cent, representing interest.

Stock

holders received cash and other assets of an estimated value of $48,269.
FIRST NATIONAL BANK, PERRY, OKLAHOMA.
This bank was formerly in conservatorship.
receivership April 9, 1934.

It was finally placed in

Depositors and other creditors received, including

offsets allowed, the sum of $499,876, representing 103.44 per cent of total
liabilities.

Unsecured creditors received 100 per cent urinciual plus an

TREA.STJÏIY DEPARTMENT

*~f.§

Washington

JOR RELEASE, MORNING- NEWSPAPERS

Press Service

Tuesday, May 18, 1 9 3 7 _____
5-14-37

No. 10 - 27»

J. E. T. O ’Connor, Comptroller of the Currency, today announced the
completion of the liquidation of 18 receiverships during the month of April,
1937.

This makes a total of 646 receiverships finally closed or restored to

solvency since the Banking Holiday of March, 1933.

Total disbursements,

including offsets allowed, to depositors and other creditors of these 646
receiverships, exclusive of the 42 restored to solvency, aggregated
$217,399,942.00, or an average return of 79.41 per cent of total liabilities,
while unsecured creditors received dividends amounting to an average of 67.48
per cent of their claims.

Dividends distributed to creditors of all active

receiverships during the month of April, 1937, amounted to $2,762,447.00.
Total dividends paid and distributions to depositors of all receiverships from
March 16, 1933, to April 30,. 1937,

amounted to $855,560,040.00 .

FIRST NATIONAL BANE, KANAWHA, IOWA.
This bank was formerly in conservatorship.,
receivership October 7, 1933«,

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $167,081.00,- representing 105.05 per cent
of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 10,25 per cent, representing interest.

Stock

holders received cash and other assets of an estimated value of $48,269.
FIRST NATIONAL BANK, PERRY, OKLAHOMA.
This bank was formerly in conservatorship.
receivership April 9, 1934.

It was finally placed in

Depositors and other creditors received, including

offsets allowed, the sum of $499,876, representing 103.44 per cent of total

-

liabilities«.

2

-

Unsecured, creditors received 100 per cent principal plus an

additional dividend of 7.5 per cent,
FIRST NATIONAL BAM, SILVERTON, TEXAS.

This bank was formerly in conservatorship.
receivership June 5, 1933,

It was finally placed in

Depositors and other creditors received, includ

ing offsets allowed, $136,884, representing 68,02 per cent of total liabili
ties,

Unsecured depositors received 28.45 per cent of their claims,

FIRST NATIONAL M M ,

SAMSON, ALABAMA, •

This baik was placed in receivership January 8, 1930,

Depositors and

other creditors received, including offsets allowed, $95,405, representing
63,83 per cent of total liabilities.

Unsecured depositors received 39.7 per

cent of their claims.
FIRST NATIONAL B AM, EATON RAPIDS, MICHIGAN.

This bank was formerly in conservatorship. .It was finally placed in
receivership March 5, 1934.

Depositors and other creditors received, in

cluding offsets allowed, $559,868, representing 106.29 per cent of total
liabilities. .Unsecured depositors received 100 per cent principal plus an
additional dividend of 9,162 pet*' cent interest. . Shareholders received cash
and other assets of an estimated value of $36,447. ,.
FIRST NATIONAL B A M IN POULTNEY, VERMONT..

This bark was placed in receivership June 20, 1930. , Depositors and
other creditors received, including offsets allowed, $704,862, representing
82.63 per cent of total liabilities.

Unsecured depositors received 78.71

per cent of their claims,
FIRST NATIONAL M M ,

ROCKWELL, IOWA.

This bank was placed in receivership March 30, 1931,. Depositors and other
creditors received, including offsets allowed, $121,916, representing 63,19 per
cent of total liabilities.
their claims,-

Unsecured depositors received 55.,33 per cent of

-3 -

FlRST NATIONAL BAUK, TILDEN, NEBRASKA*
This "bank was placed in receivership November 17, 1931*

Depositors and

other creditors received, including offsets allowed, $153,257, representing
73.42 per cent of total liabilities.

Unsecured depositors received 68.15

per cent of their claims.
FIRST NATIONAL BANK, BROOKHAVEN, MISSISSIPPI.
This bank was placed in receivership January 13, 1931.

Depositors and

other creditors received, including offsets allowed, $759,014, representing
70,37 per cent of total liabilities.

Unsecured depositors received 54.42

per cent of their claims.
FIRST NATIONAL BANK, ELANDREAU, SOUTH DAKOTA.
This bank was placed in receivership November 3, 1932.

Depositors and

other creditors received, including offsets allowed, $301,048, representing
86.1 per cent of total liabilities.

Unsecured depositors received 80.19

per cent of their claims.
FIRST NATIONAL BANK, CAMPBELL, MISSOURI.
This bank was placed in receivership November 24, 1930.

Depositors and

other creditors received, including offsets allowed, $75,320, representing
47.33 per cent of total liabilities.

Unsecured depositors received 16 per

cent of their claims.
MONTEZUMA VALLEY NATIONAL BANK, CORTEZ, COLORADO.
This bank was formerly in conservatorship.
receivership August 18, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $355,394, representing 98.31 per cent of total lia
bilities.. Unsecured depositors received 95.51 per cent of their claims..

FIRST NATIONAL BANK, MANCOS,. COLORADO.
This bank was formerly in conservatorship.

It was finally placed in

receivership October 9,. 1933.. Depositors and other creditors received, in
cluding offsets allowed,,. $412,423, representing 91*08 per cent of total

- 4 -

liabijities«

Unsecured depositors received 70 per cent of their claims.

FIRST NATIONAL RANK, WEST SALEM, ILLINOIS.
This hank was placed in receivership November 18, 1930.

Depositors and

other creditors received, including offsets allowed, $184,132, representing
62.02 per cent of total liabilities.

Unsecured depositors received 42.43

per cent of their claims.
FIRST NATIONAL RANK, COLONY, KANSAS.
This bank was placed in receivership August 14, 1931.

Depositors and

other creditors received, including offsets allowed, $85,139, representing
60.36 per cent of total liabilities.

Unsecured depositors received 27.35 per

cent of their claims.
FIRST NATIONAL RANK, ST, FRANCIS, KANSAS.
This bank was placed in receivership November 3, 1932.

Depositors and

other creditors received, including offsets allowed, $235,022 representing
83.74 per cent of total liabilities.

Unsecured depositors received 76.17 per

cent of their claims.
FIRST NATIONAL BANK, MEADOW, TEXAS,
This bank was formerly in conservatorship.
ceivership October 2, 1933.

It was finally placed in re-

Depositors and other creditors received, including

offsets allowed, $28,419, representing 55.6 per cent of total liabilities.

Un

secured depositors received 37.05 per cent of their claims.
FIRST NATIONAL RANK, BRIGHTON, MICHIGAN.
This bank was formerly in conservatorship.
ceivership October 9, 1933.

It was finally placed in re

Depositors and other creditors received, including

offsets allowed, $181,823, representing 107.32 per cent of total liabilities.
Unsecured depositors received 100 per cent principal plus. 9,6 per cent interest.
Shareholders received cash and other assets of an estimated value of $42,791.

yr AT T V
-n T O Q 1T'T\
x'ijrxijAj ± uliUO
INSOLVENT NATIONAL BANKS LIQUIDATES AND
OR RESTORED TO SOLVENCY DURING- THE MONTH OE
APRIL, 1937

n

Kanawha, Iowa 2 /
Perry, Oklahoma 2./
Siiverton, Texas 2/
Samson, AlaLama
Eaton Rapids, Mich. 2/

First
First
First
First
First

National
National
National
National
National

Bank,
Bank,
Bank,
Bank,
Bank,

First
First
First
First
First

National
National
National
National
National

Bank in Poultney, Vermont
Bank, Rockwell, Iowa,
Bank, Tilden, Nebraska
Bank, Brookhaven, Mississippi
Bank, Flandreau, South Dakota

First 2mcl 0 1 Olicl-L Bank,
Montezuma Valley NB,
First National Bank,
First National Bank,
First National Bank,

Campbell, Missouri
Cortez, Colorado 2/
Mancos, Colorado 2/
West Salem, Illinois
Colony, Kansas

First National Bahk, St. Francis, Kansas
First National Bank, Meadow, Texas 2/
First National Bank, Brighton, lich. 2 j

2/

ü j -u /

Date of
Failure:

Total
Disbursements
Including
Offsets Allowed:

Per Cent
Total Disbursements
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants:

10-7-33

$

6-5-33
1 -S-SO
3-5-34

1 6 7 ,0 8 1 .0 0
U9 9 ,S7 6 .OO
136,SSU.OO
95,405*00
5 5 9 ,s6s.oo

105.05
103.44
63.02
63.23
lOb.29

110.25
107.5
23.45
39.7

10 9 .16 2

6 -20-30
3 -3 0 -3 1
1 1 - 1 7 -3 1
1 - 1 3 -3 1
1 1 -3 - 3 2

70 U,862.00
1 2 1 ,9 16 .0 0
153»257.00
759,014.00
3 0 i,o4 s.oo

8 2 .6 3
6 3 .1 9
73.42
70.37
8 6 .1

78.71
55.33
6s. 15
54.42
so . 19

100 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
50 ,0 0 0 .0 0
10 0 ,0 0 0 .0 0
40,000.00

-0 -0 -0 -

11-24-30
8 - 1 8 -3 3
10-9-33
n - i s -3 0
S-1 U- 3 1

7 5 ,32 0 .0 0
3 5 5 ,39 ^ .0 0
412,423.00
184,132.00
2 5 ,139 .0 0

47.33

9 8 .3 1
9 1 .OS
62.02
6 0 .3 6

16.
QR
PH
Z)j • J-3-

40,000.00
3 0 ,0 0 0 .0 0
50 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
25 ,0 0 0 .0 0

-0 -0 —r\
-0 -0 -

1 1 -3 -3 2
10 -2 -3 3
10-9-33

2 3 5 ,022.00
28,419.00
1 8 1 ,823.00

S3.71!
55.6
107.32

2 5 ,0 0 0 .0 0
25 ,0 0 0 .0 0
3 5 ,0 0 0 .0 0

-0 -0 1+2 ,7 9 1 .0 0

Formerly in Conservatorship.

10.

U 2 .U3
27.35
76.17
37.05

10 9 .6

Capital
Stock at
date of
Failure:
$ 5 0 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
3 0 ,0 0 0 .0 0
100 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0

Cash and
other Assets
returned to SharehoIder s’ Agent:
$

48,269.00
-0 -0 -0 36,447.00
—u—
—

LIQUIDATION DATA
18

INSOLVENT NATIONAL BANKS
COMPLETELY LIQUIDATED AND FINALLY CLOSED
MONTH OF APRIL 1937

TR E ASU R Y
O ffice

o~f

the

D EPARTM EN T

C om ptroller

of

the

Purr e n o y

IMPORTS OF DOOGLAB F IR , 110!IJBRtfi HILLOCK AND HID CEDAR SHINGLES
TRE %UO?.f PBO?ISX0H£ OF t ft t CANADIAN TRADE AGREEMENT
D uring th » P eriod Jan u ary 1 to May 1» 193b
(P relim in ary F igu re»}
Sawed Timber
i Douglas
•
i
F ir
j
i C iè lll
i

t

Customs D is t r ic t
TOTAL IMPORTS
Ter Cent o f Quota

63,598,063

k

Lumber Notr S p e c ia lly Provided For ifa s te n s % Mixed F ir 5 T o ta l f i r j Red Cellar
Hemlock t k Hemlock s k Hemlock 3 Shingles
C B d .n .) 2 (Bd. F t * } i (Bd* F t .) s (Squares)

3,609,691

5,278,904

32,060,880
13.1)1

042,216*
01.3)6

FROM CANADA
nHH'»aiWli»KtaMft*

WlWHWHii

A la s k a '
•u ff a lo
Dakota
Duluth A Su p erio r
Los A ngeles
Maine è fu f?«
M assachusetts
M ichigan
Mew York
P h ila d e lp h ia
s t , Lawrence
San S a n c is c o
Vermont
Washington
G alveston
Haw aii

*

11,439
230,809
2,734,407
1,940,789
339,487
17,415
2,551,128
•

10,975,120
-

54,042
■ee

P
i i
4,423,330

se’

29,335
302,150
770,085
288,727
*

2,245,214
48,360
i
-

am

50,008
«
et»

am
*
»

3,018,283
2,210,015

ce

am

«

•

me

am

00,022

am

•

$

se

*»

•

11,450
310,150
3,090,757
2,714,874
028,414
17,415
4,790,342
48,300
13,993,409
2,210,615
54,042
ee

319,050
4,463,402
•

m

32,114
202,393
43,254
1.198
•

1,750
593
0,650
•
2,216
602
38,001
836,579
14,368
2,560

E xecu tive O rder, dated March 1 3 , 1937, lim its im p ortation s o f red cedar shin gles
frost Canada to 1 ,0 4 6 ,SOS sq u a res, during f i r s t s ix months o f calen d ar year 1937«

IMPORTS OF DOUGLAS FIR, WESTERN HEMLOCK AND RED CEDAR SHINGLES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
During the Period January I to May 1, 1937
(Preliminary Figures)

Customs District

TOTAL IMPORTS
Per Cent of Quota

Sawed Timber & Lumber Not
Douglas
•
Western *
Fir
•
Hemlock ♦
(Bd.Ft.) :
(Bd.Ft.) s
23,598,083

3,809,891

11,450
230,809
2,734,607
1,940,789
339,687
17,415
2,551,128
10,975,126
»
54,642
m
m
319,050
4,423,380
•

m
29,333
362,150
776,085
288,727

Specially
Mixed Fir
& Hemlock
(Bd. Ft.)

Provided For
: Total Fir
: & Hemlock
: (Bd. Ft.)

♦
; Red Cedar
: Shingles
: (Squares)

5,278,906

32,686,880
13.1%

642,216*
61,81

a.
50,008
a.
m
m
*
«
m
m
3,018,283
2,210,615
**

11,450
310,150
3,096,757
2,716,874
628,414
17,415
4,796,342
48,360
13,993,409
2,210,615
54,642
•
319,050
4,483,402
«
**

«¡»
32,114
262,393
43,254
1,138
«
1,750
593
6,650
m
2,216
602
38,001
236,579
14,366
2,560

FROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Los Angeles
Maine & N. H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Francisco
Vermont
Washington
Galveston
Hawaii

2,245,214
48,360
60,022
*■

* Executive Order, dated March 13, 1937, limits importations of red cedar shingles
from Canada to 1,048 ,262 squares, during first six months of calendar year 1937*

(Prepared by Division of Statistics and Research, Bureau of customs)

The Commissioner of Customs today announced preliminary
figures for imports of Douglas fir, Western hemlock and red cedar
shingles, und&r the quota provisions of the Canadian Trade Agree
ment, as of May 1, 1937, and the percentage that such imports
bear to the totals allowable under the quota provisions, as follows:

The Commissioner of Customs today announced preliminary
figures for imports of Douglas fir, fester» hemlock and red cedar
shingles, unddr the quota-provisions of the Canadian Trade Agree( ~6 f
ment, jm*0fA*£irv\9 1937, ¿md the percentage that such imports
bear to the totals allowable under the quota provisions, as follows;

TREASURY DEPARTMENT
Washington
FOE IMMEDIATE RELEASE.,
wiflay. May 14, 1937.

Press Service
No, 10-28

The Commissioner of Customs today announced preliminary figures for imports of
Douglas fir, Western hemlock and red cedar shingles, under the quota provisions of
for the period January 1
the Canadian Trade Agreement,^
.to May 1, 1937, 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

Sawed Timber & Lumber Not Specially Provided For
Douglas
Western
Mixed Fir
Total Fir
Fir
Hemlock
& Hemlock
& Hemlock
(.~Bd,Ft,)
(Bd.Ft.)
(Bd.Ft.)
(BA.Ft.)

Red Cedar
Shingles
(Squares)

23,598,083
3,809,891
5,278,906
32,686,880
642,2i6*
_________________________________________ 13.1#_____
61,3#

PROM CANADA
Alaska

Buffalo
Dakota
Duluth & S u p e rio r
Los Angeles
Maine & N .H .
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San F ran cisco
Vermont
Washington
Calve st on
Hawaii

11,450
230,809
2,734,607
1,940,789
339.687
17.415
2,551,128
~
— «...
10,975.126
------ ~
54,642

~ ~ ~
29,333
362,150
776,085
288,727
« —
2,245,214
48,360
— — —
- - .- -- -

319;050
4,423,380
- - - - .r-

— — — ~
50,008
— — —
— — m —
** — **
~ «*• «•
~ -f — —
3,018,283
2,210,615
- - - -

11,450
310,150
3,096,757
2,716,874
628,414
17,415
4,796,342
48,360
13,993,409
2,210,615
54,642

60,022

- - - —

319,050
4,483,402

—

M — — **

— _ — —

~

~ — ~
32,114
262,393
43,254
1,138
— — —
1,750
593
6,650
•*»
2,216
coo
OUo
38,001
236,579
T4
366
XtEjU
UU
2,560

^Executive Order, dated March 13, 1937, limits importations of red cedar shingles
from Canada to 1,048^262 squares, during first six months of calendar year 1937*
ooOoo

IMPORTATI 0 ® or CACTUS, CREAM AND CERTIFIED SEED POTATOES
M B S THE QUOTA PHOTISIOH3 OF THE CANADIAN TRADE AOREOBNT
Preliminary figures as of Hap 1, 1937

f1

t Dec* 1,1936 y
January 1 to M a r l . 1937
............................~
i U f f . . . 1 . 19371
i
cactus
t o a k s 700#
, DAIRY COWS S
| H I T E OR iRii
cmwarn 1 CREAM I m m potatobs]
i usua
t
« MERE t o o #
l i S A A l iPouads)
*
<»«*>
t
(a»ed)
— jl (Heed)
i

Customs District

TOTAL IMPORTS
For Cent of Quanta
FROM CANADA
' Alaska
Buffalo
Chicago
Dakota
Duluth k Superior
Hawaii
Maina k N * H *
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
Now York
Dragon
Philadelphia
Rochester
St* Lawrence
Vermont
Virginia
Washington
Total fresa Canada
Me x i c o
Arizona
11 Paso
San Antonio
San Diego
Total from Manico

ITS#

87,790
83.8«

80,275
61.8«

j/msT'X
i\

9 * 7 $ ¡/^

8 1 ,7 1 7 ,1
^

m

70,9

ip * ®

m

#

a*

-ae

4

4,885

15,334
945
4,164
845

30
-Me

5
4M

we

70

•

3

MO

Mj

*e

a*

Me

8?
71

138

8

3 ,9 9 0 ,1 2 9

♦

Me

10

ae

242,360
8,392,181
430,060

m

2,220

*
m
61
4M

1
263
3335
«a

15,030
16?

m
**
2,819
§96
-

«

2,458
30,690
351
1,61?
449
393
*

268

u?
Me

405
2?,274

4*751
61,788

273
14
329

3,394
8,01?
4,019
2*563
18,493

aie

Me

m
a*

m
m
m
m

MM

ae

MM

Me

243
934

6
80,909

5
ae

«

562
1,945

from

F i » o r n a COUNTRIES
Puerto Eleo

81,084
w j l *4^

.# >

516

ae

36,450
a

2,000

el
J

19,931,893

mi
394,334
81,855
36,400
287,100
3,907,626
44,800
201,717,184

we
Me

20,997

m
m

M»

m

Me

aie

m
m

Me

•1

Me

ej

-

ae

a

we

87
IMl riT— —

(Prepared by Diri alea of Statisti« And Research, Bureau of Gustos)

-I

The Commissioner of Customs today announced preliminary
figuras for imports of cattle, cream sad certified asad potatoes,
under the quota provisions of the Canadian Trade Agreement, aa^of
Hay 1* 1937, and the percentage that wish imports bear to the
totals allowable under the quota provisions« as follows:

✓

ss

/

f

%f
i T \ /

J

j<7

*

iy

IMPORTATIONS OF CATTLE, CHEAM AND CERTIFIED SEED POTATOES
UNDER OHE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of May 1, 1937

Customs District
---TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawaii
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
Rochester
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

J ________January 1 to May;l, 1937
*
: ' CATTLE
: CATTLE 700# * DAIRY COWS P
I
: UNDER 175# ; OR MORE
*700# OR MORE : CREAM ♦
t
(Head)
;
(Head)
; (Head)
j (Gal.)»
27,790
80,275
53 »5$_________ 51 »5$

,945
9*7$

..

21,084
1.4#

4
6

4,885
2,220
2

15,334
945
4,164
245

30

3

70
•

61
1
263
235
15,680
167
-

27
73
»
2,458
30,690
351
1,617
449
293

158

2

10

-

268
117

243
934

2,819
596

2,000

405_________ 4,751
27,274
61,782

273
14
229
516

. .

3, 990,125
242,360
2, 392,181
430,060

5
19, 931,893

6
20,909

562__________ •
1,945
20,997

3,894
8,017
4,019
2,563
18,493

FROM OTHER COUNTRIES
Puerto Rico

(Prepared by Division of Statistica ànd Research, Bureau of Customs)

i

394,534
81,855
36,4001
227,100
3,907,626
44,600
31,717,184

The Commissioner of Customs today announced preliminary
figures for imports of cattle, cream and certified seed potatoes,
under the quota provisions of the Canadian Trade Agreement, as of
May 1, 1937, and the percentage that such imports bear to the
totals allowable under the quota provisions, as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS

sta

May 14, 1937.

MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Bldg.)
FROM MR. BENNER:
There is attached for immediate release a tabulation showing
preliminary figures for imports of cattle, eream and certified
seed potatoes, under the quota provisions of the Canadian Trade
Agreement, as of May 1, 1937.
When the release has been mimeographed, please have 110
copies forwarded to Miss Henry at Room 415, Washington Building.

TREASURY DEPARTMENT
W ashington
FOR RELEASE, MORNING NEWSPAPERS,
Saturda y , May 15, 1937. _

P re ss S e r v ic e
No. 10 -29

5/1T/37
The Commissioner o f Customs to day announced p r e lim in a r y f ig u r e s fo r im p orts
of c a t t l e , cream and c e r t i f i e d seed p o t a t o e s , under th e quota p r o v is io n s o f the
Canadian Trade Agreem ent, as o f May 1 , 1937, and th e p e rce n ta g e t h a t such im ports
bear to the t o t a l s a llo w a b le under the quota p r o v is io n s , as fo llo x v s:

C/3]

D e c.1,1936 to
Ja n u a ry 1 to May 1 , 1937
May 1 , 1937
CATTLE
: CATTLE 700#: DAIRY COWS :
t TRITE OR IR ISH
UNDER 175# : OR MORE : 700# OR MORE : CREAM: SEED POTATOES
(Head) :
(Head)
:
(Head) : ( G a l) :
(Pounds)

Customs D i s t r i c t
TOTAL IMPORTS
Per Cent o f Quota

27,790
53.5$

80,275
51*5$

FROM CANADA
Alaska
B u ffa lo
Chicago’
Dakota
Duluth & S u p e rio r
Hawaii
Maine & N. H,
Maryland
M assachusetts
Michigan
Minnesota
Montana & Idaho
Hew York
Oregon
P h ila d e lp h ia
Roche s te r
S t , Lawrence
Vermont
V ir g in ia
Washington
T o ta l from Canada

61
1
263
235
15,620
167
2,819596
405
27,274

2,458
30,690
351
1,617
449
293
268
117
- 4,751
61,732

FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
T o tal from M exico

273
14
229
516

3,894
8,017
4,019
2,563
18,493

FROM OTHER COUNTRIES
Puerto R ico

-

4,885
2,220
.2
-

-

15,334
945
4,164
245
-

27
73
-

—

1,945
9 .7 $

-

30
3
-

158
-

10
m
5
243
934
-562
1,945

4
6
-

31,717,184
70 .5$

36,450
-

2,000
2
3,9 9 0 ,1 2 5
242,360
m
2,3 92,1 31
430,060
—
- 19,931,893
—
394,534
■w
81,855
6
36,400
20,909
227,100
3 ,9 07,6 26
44,600
20,997 31,717,184
70
-

m

—

-ooOoo-

21,084
1 .4 $

-

-

87

-

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

May 14, 193?.

MR. GASTON
(Attention of Mi. Schwarz - Room 289, Treasury Bldg.)
FROM MR. BENNER:
There is attached for immediate release a tabulation showing
preliminary figures for imports of Douglas fir, Western hemlock
and red cedar shingles, under the quota provisions of the Canadian
Trade Agreement, as of May 1, 1937.
When the release has been mimeographed, please have 110 copies
forwarded to Miss Henry, Room 415, Washington Building.

OFFICE OF THE COMMISSIONER OF CUSTOMS

MAY 171937

MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Bldg.)
FROM MR. BENNER:
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, as of May 1, 1937.
When this tabulation has been mimeographed, please have 80
copies forwarded to M s s Henry, Room 415, Washington Building.

IMPQRTS OF COMMODIHES FHOM THE PHILIPPINES UNDER QUOTA
PROVISIONS OF PHILIPPINE INE0EPENUENCE ACT AND CORDAGE ACT OF 1935
Preliminary Figures, as of May 1, 1937

:

January 1 to May 1, 1937
REFINED î UNREFINED
l COCONUT OIL
SUGAR
;
SUGAR
:
(Pounds)
(Pounds) :
(Pounds)

♦

Customs District

TOTAL IMPORTS
Per Cent of Quota
Hawaii
Los Angeles
Maryland
Massachusetts
New Orleans
New York
Oregon
Philadelphia
St. Louis
San Francisco
Washington

113,000,826
25.2fo

39,776,826 604,516,944
35.5$
33.7$
4,828

1,343,974
669,700
11,677,970
24,867,872
61,606,630
-

539,860
564,580
11,730,240

10,111,631
.-

*
-

3,334,885
-

1,336,344
24,993,966

•

43,435,576
4,479,491
171,291,874
187,554,894
..

184,336,788
-

13,413,493

NOTE - Reports from the collectors of customs indicate that the quota
of 6,000,000 pounds of cordage jfrom the Philippine Islands, for the
12 months period beginning May £, 1936 , was filled during the last
week in April, 1937*

(Prepardd by Division of Statistics and Research, Bureau of Customs)

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, during the period January 1 to May 1, 1937, and
under the Cordage Act of 1935, during the period May 1, 1936 to
April 30, 1937, also the percentages that such imports hear to the
totals allowable under the quotas, as follows:

TREASURY D E P A R T M E N T
O F F IC E O F T H E SE C R ETA R Y
C O M M ISSIO N E R
ACCOUNTS AND

OF

WASHINGTON

D EPO SITS

May 6, 1937

TO MR» GASTON:
During the month of April, 1937, the
following market transactions took place in
Government securities for investment account;
Total purchases......

$ 22,406,500

Total sales ...........

10,550,000

Net purchases

$ 11,856,500

TREASURY DEPARTMENT
W ashington
FOR IMMEDIATE RELEASE,
S a tu rd a y , May 15, 1957«

P ress R elease
No. 10-30

Net m arket p u rch ases of Government s e c u r it ie s fo r T reasu ry in v e st'
ment accoun ts fo r the ca le n d a r month o f A p r i l , 1937, amounted to
| l l , 856,500, S e c r e ta r y Uorgenthau announced to d a y .

-oOo

m m m of commodities m m
mximmm
m orm tam m m n*x&Pim m m srnrnm a s ? a n d
\

mm m
aot

tr# i w

Preliminary Figure®, as of May 1» 1937

:

Customs D istrict
IMPORTS
Far Cent of Quota
Hawaii
toe Angeles
Maryland
ilaeeaohuaette
BEfew-Orleans
Rev York
Oregon
Philadelphia
S t. Louis
San francisco
Washington

January '% to May 1 . T3l7~
i REFINED t
COCONO? OIL $ SMB
I
mmm
1 (Pounds) ï
i
(Pounds)
(Pounds)

*
1

U S,000,828
85.3^
*
1,343,974
669»700
1 1 »677*970
24,867,872
81,606,890
m
539,860
664»680
11,730,240
m

39,776,826 604»916»944
ss.s*
88.7»
m
10,111,631
m
m
m
m

9,884,888

<*fc

1,336,344
24,993,968

4*88S
»
43,498,876
4 »479»491
171,891,874
187,854,094
at
134,336,788
eh18,418,498
eh

NOTE * Report* from the collectors of customs Indicate that the quota
of 6 »000»000 pounds of cordage from the Philippine Islande» for the
IZ months period beginning May 1» 1936» was filled during the last
week in April» 1937.

ik

‘^
fio*-/

U

W T

^

/ ? 3 7 ,1

í

«.*/>;
3- /

m« :oE*aiaaioa©r af Costosa today annoimced prslimiruary figures
fur importa of

wmwáítlm

ooraing lato the M t«4 States

trm

t3m

m u m xm XaXaads under the guata wml8t<m» o í tba Fhillppin©
Independan«:* A«t# duriag tías pesio* Jaauary X to ¿dsy X, X9Sf» asi
m &*r tha Ooréag© á**t of l Ü t * aurtsg ths period May X , I »

ApriX

3 0 t 19807 ♦

ta

aXao th© pareentoga© that «ueh importa boar to the

tataXa alXow&feX© nadar tha guatas» as follona:

/ v /f \ 1JL

TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Tuesday, May 18, 1927, ___________
5-17-37.

Press Service
No. 10-31

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, during the period January 1
to May 1, 1937, and under the Cordage Act of 1935, during the period May 1, 1936
to April 30, 1937, also the percentages that such imports hear to the totals allow
able under the quotas, as follows:
January 1 to May 1, 1937
Customs District

refined

unrefined

COCONUT OIL
SUGAR
SUGAR
(Pounds)______ (Pounds)________ (Pounds)
TOTAL IMPORTS
Per Cent of Quota
Hawaii
Los Angeles
Maryland
Massachusetts
New Orleans
New York
Oregon
Philadelphia
St, Louis
San Francisco
Washington

NOTE:

113,000,826
39,776,826
25.2%________ 35.5%
----------1,343,974
669,700
11,677,970
24,867,872
61,606,630
> --------539,860
564,580
11,730,240
-----------

10,111,631

- - •---3,334,885
--------1,336,344
24,993,966

4,828
-----------43,435,576
4,479,491
171,291,874
187,554,894
----------184,336,788 ,
----------13,413,493
■
----------- ■

Reports from the Collectors of Customs indicate that the quota of
6,000,000 pounds of cordage from the Philippine Islands, for the
12 months period beginning May 1, 1936, was filled during the last
week in April, 1937.

ooOoo

m

604,5i6,944
33.7^ .

\

- 3 -

and did not thereafter resume business.

The ruling of the Court of

Appeals is of importance not only to creditors of closed banks in
this jurisdiction, but also to depositors of closed banks throughout
the nation, in that it insures equal distribution to a.l1 general
creditors with preferences or advantages to none.
The receiver was represented by Attorneys Huston,
Thompson, and Herbert S. Ward.

The Comptroller of the Currency

as amicus curiae was represented by Attorneys George P. Barse and
James M. Kane.

- 2 -

by the owner in another banking institution in the District on March
3, 1933, All of the banks in the District closed on March 4 , being
Inauguration Day, and remained closed on*March 5 , being Sunday* The
Banking Moratorium became effective on March 6 , and continued in
the District of Columbia until March 14-, on which date licenses were
issued by the Secretary of the Treasury to those Washington banks
which were in satisfactory condition to resume business. The cashier*s
check in question was presented to the Federal American on March 13
and paid to the bank which presented it.
The Receiver of the Federal American made demand upon
the payee of the cashier’s check, as well as the bank which presented
it and received the payment. When the Receiver* s demand was refused,
suit was filed and the receiver* s bill of complaint was dismissed by
the United States District Court of the District of Columbia. On
appeal, the decision of thé lower court was reversed and in the opinion,
the appellate court said that **. . .the effect of the President’s
Proclamation of March 6 , 1933, was to close all of the banks, including
the Federal American Bank, as for a conservatorship, and thus fix the
rights of their depositors and other creditors at that time, subject
to subsequent licenses.*1
Although more than four years have elapsed since the
banking holiday was declared, this is the first decision of an
appellate federal court involving the validity of payments made
during the National Banking Holiday by a national bank which closed
for the first time in obedience to the President’s Proclamation

FOR IMMEDIATE EELEASE

/

____ _______

.J&swering quean s received todaytJ B O M gSpgpg J. F. T. 0»Connor.
Comptroller of ,the Currency, has issued the following <rolje«^e»^ ^ *
The United States Court of Appeals for the District of
Columbia held, in an opinion which was released today, that a
payment made by a national bank during the National Banking Moratorium
declared by President Roosevelt on March 6 , 1933, is recoverable by
the Receiver if the bank did not resume normal banicing functions at
the termination of the moratorium or holiday period.
Most of the banks which did not resume business at the
close of the holiday period had permitted certain withdrawals or
payments to be made.
Immediately after March 13, 1933, when banks throughout
the country received licenses to resume normal banking functions,
it became necessary for the Comptroller of the Currency to decide
whether or not payments.which were made during the banking holiday
to certain depositors or other creditors would be permitted to stand
as preferences in favor of those depositors or creditors. The
Comptroller ruled that such payments must be treated as mere advances
on the amounts which the recipients would be entitled to receive
as their pro rata share of the assets to be distributed to all
the creditors, share and share alike. In the vast majority of these
cases, depositors or other creditors who received the benefit of
such payments have voluntarily refunded the amounts so received.
The case decided by the United States Court of Appeals
involved a cashier1s check issued by the Federal American National
Bank and Trust Company of this city.

The cashier* s check was deposited

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE.,
Monday,. May 17, 1937,.

Press Service
No.. 10-32

Answering inquiries, received, today, J.E.T. O'Connor, Comptroller of the
Currency, has issued the following statement:
The United States Court of Appeals for the District of Columbia held, in an
opinion which was released today, that a payment made by a national bank during
the National Banking'Moratorium declared by President Roosevelt on March 6 , 1933$
is recoverable by the Receiver if the bank did not resume normal banking functions
at the termination of the moratorium or holiday period*
Most of the banks which did net resume business at the close of the holiday
period had permitted certain withdrawals or payments to be made*
Immediately after March 13, 1933., when banks throughout the country received
licenses to resume normal banking functions, it became necessary for the Comptroller
of the Currency to decide whether or not payments which were made during the
banking holiday to certain depositors or ether creditors would be permitted to
stand as preferences in favor of those depositors or creditors*

The Comptroller

ruled that such payments must be treated as mere advances on the amounts which the
recipients would be entitled to receive as their pro rata share of the assets to
be distributed to all the creditors, share and share alike.

In the vast majority

cf these cases, depositors or other creditors who received, the benefit of such
payments have voluntarily refunded the amounts so received.
The case decided by the United States Court cf Appeals involved a cashier1s
check issued by the Eederal American National Bank and Tj-ust Company cf this city.
The cashier1 s check was deposited by the owner in another banking institution
in the District on March 3, 1933,

All of the banks in the District closed on

March 4, being Inauguration Day, and remained closed on March 5$ being Sunday.

— 2—
The Banking Moratorium became effective cn March 6 , and continued ip. the District
cf Columbia until March 14, on which date licenses were issued hy the Secretary
of the Treasury to these Washington hanks which were in satisfactory condition to
resume business.

The cashiers check in question was presented to the Federal

American cn March 13 and paid to the hank which presented it.
The Receiver of the Federal American made demand upon the payee cf the
cashier's check, as well as the hank which presented it and received the payment.

When the Receiver 1 s demand was refused, suit was filed and the receiver1 s hill cf
complaint was dismissed hy the United States District Court cf the District cf
Cclumhia.

On appeal, the decision cf the.lower court was reversed and in the

opinion, the appellate court said that

the effect cf the President's

Proclamation cf March 6 , 1933, was to close all cf the hanks, including the
Federal American Bank, as fer a conservatorship, and thus fix the rights of.their
depositors and. other creditors at that time, subject to subsequent licenses."
Although more than four ;/ears have elapsed since the hanking holiday was
declared, this is the first decision cf an appellate federal court involving
the validity of payments made during the National Banking Holiday hy a national
hank which closed, for the first time in obedience tc the President* s Proclamation
and did net thereafter resume business.

The ruling of the Court cf Appeals is

of importance net only tc creditors of closed hanks in this jurisdiction, hut
also to depositors cf closed hanks throughout the nation, in that it insures
equal distribution tc all general creditors with preferences or advantages to
none.
The receiver was represented hy Attorneys Huston, Thompson, and Herbert S.
ward.

The Comptroller of the Currency as amicus curiae was represented hy

Attorneys George P. Barse and James M. Kane.
coOoo

„fl
Xm
m

p

IMPORTS OP DISTILLED LIQUORS AND WINES AND DUTIES COLLECTED THEREON
____ MARCH 1937_______________________
t
Mareh :
February t
Mareh * le t 9 Months Pi seal Yi
:... 121?....»
A M ____ I___ ------*---- 1ZVL
t
DISTILLED LIOUORS (Proof Gallons):
stook in Customs Bended Ware3 *836*833
3*618*938
3*702*586
houses at beginning
3*522*
3*832*9*7
924*142
Total Imports (Free end Dutiable) 1*42Os¿48
*2 *8 3 1,7 5 0
**304*394
7*359*8
5*253*635
Available fer Consumption
*6 *5 3 4 *3 3 6
4*923*332
4*7 6 0 *9 7 5
1 0 , 882,41
1 3 2 8,0 0 0
Entered into Consumption (a)
**077*574
1*006*8*5 * 2 * 5 3 6 * 3 3 8
6#95W
15*550
Export ad from Oust ems Custody '
12*217
180,J
*2 *7 7 *
8 7 ,9 * 3
Stock in Customs Bonded Ware«*
houses at end
3* 9* 0*085
3* 0 3 2 * 9 0 7
3 *74**89 3
3 *9*0*08 5
3*741,8ji

,

STILL WINES (Liquid Gallons):
Steok in Customs Bonded Ware
houses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Exported from- Custoae CUstody •»,
Stock in Customs Bended Ware
houses at end

391*242

1*068*789
210*776

**4 5 9 *3 5 0

* * 279*565

1,821*974

211*40 5

203*815

* , 637,50 8
2*2 71*74 3
3 *909 *25 *
2 , 710*929

*59

52

3*705

6 ,2 4 5

*7*9

1 *192*077

1*068*108

1*614*454

1 *192*077

1*614,4J

147*038
39*337

224*308

2 * 6 ,9 19
440*236

288,01
180*48

18 6*875
* 8*152

65 7 **5 5

468,51

4 7 3 *3 7 4

228,21

3*

244*858
U»«57
460

463

7»«

168*692

232*741

183*318

232*7

$ 2 * 5 8 4 ,6 9 6

$3 0 *7 4 3 *5 5 *

$26*192*22.

1* 068,108

267*114

SPARKLING WINES (Liquid Gallons):
Stook in Customs Bended Ware168*692
houses at beginning
40*418
Total Imparts (Free and Dutiable)
209*110
Available fer Consumption
Entered into Consumption (a)
25*773
—
19
Exported from Custena^ustody
Stook in Customs Bonded Ware183*318
houses at end

DUTIES COLLECTED ON:
D istilled Liquors
$ 3 *265*312 $ 2 * 655*223
S t i l l Wines
244*611
188*618
Sparkling Wines
75*840
53»7*2
Total Duties Collected en Liquors 3*585*763
2*897*553
Total Dutiesy^olleoted on Other
Cemmoditie/
48^916,865 38 , 828,488
TOTAL DUTIES/COLLECTED
$52,502*628 $41*726*041
Pereent Collected en Liquors
6*836
6 *9$

**633*297
188*677

20*550

of Statl iJA»a»j«ld

2* 004*14

2*425*362
1*420*128

2,495»9j|

67*662
2 ,9 0 6 ,2 5 *

3 4 ,58 9 *0 4 1

30* 040,51

253*893

$35*341*756 $351*137**98
8*296
9*936

(a) Including withdrawals fe r ship supplies and diplbmatie use*

1,540*9
2,095,60!
3,636*5^

g6gflSSiia
$232*196*5^

10

OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta

TO MR. GASTON
FROM MR. BENNER:
There is transmitted herewith a statement showing
imports of distilled liquors and wines, and duties col~
leeted thereon, covering the month of March 1936 and 1937
and the first nine months of the fiscal years 1936 and 1937,
which may be suitable for press release.

Enclosure

TREASURY DEPARTMENT
Washington
Press Service
No. 10-33

IFOR im mediate r e l e a s e ,
lie duesday, May 19, 1937

Commissioner of Customs James H. Moyle today issued the following statement
Lowing imports of distilled liquors and wines, and duties collected thereon,
covering the month of March 1936 and 1937 and the first nine months of the fiscal
years 1936 and 1937.
March
1st 9 months Fiscal
February
March
1937
Year 1936
1936
1937
1937
distilled LIQUORS
(Proof Gallons)
Stock in Customs .
Bonded Warehouses
3,522,644
3,702,586
3,618,938
3,836,833
at beginning,... * 3,832,987
Total Imports (Free
7,359,841
1,304,394
924,142
12,831,750
and dutiable).... 1,420,648
Available for Con16,534,336 10,882,485
4,923,332
4,760,975
sumption..... ... • 5,253,635
Entered into Con
6,959,593
12,536,338
1,077,574
1,006,865
sumption (a)....• 1,328,000
Stock in Customs
Bonded Warehouses
3,741,893
3,910,085
3,741,893
3,832,987
at end......... . 3,910,085
STILL WINES
(Liquid Gallons)
Stock in Customs.
Bonded Warehouses
1,540,948
1,637,508
1,633,297
1,068,789
at beginning..... 1,068,108
Total Imports (Free
2,095,601
2,271,743
188,677
210,776
and dutiable) . ., ..
391,242
Available for Con
1,821,974
3,636,549
3,909,251
sumption. ......... 1,459,350
1,279,565
Entered into Con
2,004,147
2,710,929
203,815
sumption (a).....
211,405
267,114
Stock in Customs.
Bonded Warehouses
1,614,454
1,614,454
1,192,077
at end............ 1,192,077
1,068,108
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bonded Warehouses
288,091
at beginning,,....
216,919
224,308
168,692
147,038
Total Imports (Free
180,461
440,236
and dutiable)
39,337
20,550
40,418
Available for Con
sumption....... .
468,552
657,155
244,858
186,875
209,110
Entered into Con
473,374
228,202
sumption (a)..,..
11,657
25,773
18,152
Stock in Customs
Bonded Warehouses
at end...... .
232.741
232,741
183,318
168.692
183.318
DUTIES COLLECTED ON:
Distilled Liquors $3,265,312
$2,655,223
$2,584,696 $30,7.43,551 $26,192,223
Still Wines
2,425,362
2,495,996
244,611
188,618
253,893
1.352,376
Sparkling Wines
1,420.128
67.662
53.712
75,840
1,0tal duties collected
$2.906,251 $34.589.041 $30.040.595
i ?n Liquors
$3.585.763
$2.897.553

a) Including withdrawals for ship supplies and diplomatic use.
ooOoo

fm m m

d s p a h iw ?

ls»hiBgt©a
foi relsask, m m x m
Tusaday, May 18, 193?.

Press Service

S/Ì7/37

Seoretary of the Treasury Morgenthau announoed la®t evening that thè tenderà
for tuo «orlo# of Treasury bill®, to b® dated May 19 $ 1957, whieh miro of farad on
May 14, «oro opened at thè Foderai Reserve banks on May 17*
Tender® aere invited for the tm

serie® to tbe aggregate amount of

#100,000,000, or thsreabout®, and #340,012,000 «es applled for, of «fcleh
#100,134,000 «es aecepted.

The details of thè two serie® ere as folio«®s

18»-0àT THBA30RY 9 1 0 3 * M&TüRING 3SPTSMESR 13. 1937
For this serie®, whieh «es for #30,000,000, or thereabomt®, thè total amount
applled for «es #171,777,000, of whieh #50,100,000 «a® aecepted.

The aecepted bids

raaged in prise from 99.898, équivalent to a rate of about 0*301 percent per aama,
to 99.335, équivalent to a raté Of about 0*437 percent per annua, en e bank dis
count bénis*

Only part of the amount bld for et thè lettor prie# «ns aecepted.

The average prise of Troasnry bille of this serio® to bo issued i® 99*333 and the
average rate i® about 0*479 percent per anno® en a bank discount basi®*
273-S1Y THBàSPHY B U IS. M à T P R i m H B 3 P A R Y 14* 1938
For this sari«®, «hleh «a® for #30,000,000, or thoroabont®, the total aaount
applled for «a® #109,033,000, of whieh #50,044,000 «as aecepted.

The aecepted bidi

ranged in prise froa 99.500, exaltaient to a rata of a bout 0*059 percent per annua,
to 99*472, équivalent to a rat# of a beat 0*090 percent per annua, on a bank discount
basi®»

Only part of the amount bld for at the la tter pries «a® aecepted.

The

average prise of Troasnry bill® of this serie® to ba issued i® 99.430 and the
average rate i® about 0.685 percent per annan on a bank discount basin*

/

TREASURY DEPARTMENT
Washington
FOE RELEASE, MORNING NEWSPAPERS,
Tuesday, May 18, 1937.________ _
5-17-37.

Press Service
No. 10-33

Secretary of the Treasury Morgenth.au announced last evening that the tenders
for two series of Treasury "bills, to "be dated May 19, 1937, which were offered on
May 14, were opened at the Federal Reserve "banks on May 17.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $340,812,000 was applied for, of which
$100,184,000 was accepted.

The details of the two series are as follows:

122-DAY TREASURY BILLS, MATURING SEPTEMBER 18, 1937.
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $171,777,000, of which $50,140,000 was accepted.

The accepted

"bids ranged in price from 99.898, equivalent to a rate of about 0.301 percent per
annum, to 99.835, equivalent to a rate of about 0.487 percent per annum, on a
"bank discount basis.
accepted.

Only part of the amount bid for at the latter price was

The average price of Treasury J>ills of this series to be issued is

99.838 and the average rate is about 0.479 percent per annum on a bank discount
basis.
273-DAY TREASURY BILLS, MATURING FEBRUARY 16, 1938
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $169,035,000, of which $50,044,000 was accepted. .The accepted
bids ranged in price from 99.500, equivalent to a rate of about 0.659 percent per
annum, to 99.472, equivalent to a rate of about 0.696 percent per annum, on a bank
discount basis.

Only part of the amount bid for at the latter price was accepted.

The average price of Treasury bills of this series to be issued is 99.480. and the
average rate is about 0.685 percent per annum on a bank discount basis.
ooOoo

2

traveled extensively in the Southwest and added valuable material
to the study of characteristic types of American people in which
he has been particularly interested. In Texas Mr, Cook lived
principally in San Antonio, Corpus Christi and the Southeastern part
of the state where in his work he recorded aspects of the contemporary
life# Mr, Cook*s work in addition to etchings, woodcuts and water
colors, includes a fresco for a hotel in Tasco, New Mexico and two
frescoes in the Springfield^Massachusetts^ Court House, executed
under the Public Works of Art Project#.

**

iim w M M m

___

j

Mr# Cook received the gold medal aMwv of hon^*7i5^^^Srchitectural
K
League o f New York C ity fo r th e f in e s t mural painting executed during
the past year.

This was a fre s c o fo r one o f the court rooms in th e

Pittsburi

Lvania^ Post Office and Court House, which^ffc3BB8»wl^

won in a competition hel<#oy the Section of Painting and Sculpture (for
v

'

/*— •-

that bullding/d
designs for the San Antonio murals are characterized by an
intimate knowledge of the rich historical background of the city and
the activities and character of the modern Texans#
The competition attracted many of the outstanding artists of the
country and was open to all American painters. Singled out for special
recommendations by the Jury were the works of the following painters:
(k
r

Kindred McLe&g.y^»a£..-^Ei,ttaburg^ t ,1
i
fitttward.banning -of--New^Yorklvi'ty3il
Srfm evn Shixai^^JliaiwJCQrk Cj-hy^
Simka SimMiovitch of J e w York City
-ofJig®; York ClSy
EmdaT Bj stramiof TaagplMHe M |bb* s

Toirtiea

Texas? *
jof..jSayfordsy.Conn,

^

Moya del Pino of San Francisco

n

-

.,

V { O- 3
For « o m i a ^ r e l e a s e ^ ^ 4Jvv^ v'
%i
May 23* , 193^
'
•

1 y‘

'

Titc TraagyH fiy T>ep egy ^ a .« ii|faj Pri!TC!"QTT !T O iiij1i^ ' r i y i Ji!MT7l" P W

p«^n-nnC

Rnniptnra atnim in-H- 1 1 , 1 l"r4 [the d esigns of

Howard C o f ^ w T ^ n chosen from*sth£«^fe4«^soE^of one hundred
and eighty-five anonymous contestants for four mural paintings
for the foyer of the San Antonio£jexas} Post Office and Court
House*
.. 1

-fro

m

d

Twelve thousand dollars is to be paid for the four mural
paintings which will be executed in fresco* The mural scheme
consists of a continuous frieze six feet high running around the
four walls of the entrance foyer and broken by the arched heads
of the doorways and windows * Two murals will be seventy-two feet
J t f k

long and two iiWenty feet long*
An Advisory Jury to the Section of Painting and Sculpture
consisted of # ssebs^* Ralph H* Cameron, Architect of the building,
and two mural painters,

Reginald Marsh of Hew York City and

Ward Lockwood of Taos, Hew Mexico* Mr* Cook’s mural designs
were chosen by a seven to one vote of the Jury and the staff of
the Section of Fainting and Sculpture*
Mr*^EWa£& Cook ^ l Minfli born in Spribgfield, Massachusetts,
V
1 i: ■
*
now makes his residence at Ranchc^rde
Taos,
Hew Mexico.
In 1932 J& u
\

4&mnb3SEMe was awarded a Guggenheim felloii^p for a year’s work in
Mexico, the fellowship being subsequently renewed for a year’s
travel and work in the United States. During this time Mr. Cook

««•MA

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING* NEWSPAPERS,
Sunday. May 33, 1937.
______
5-21-37.

Press Service
No. 10-34

The designs of Howard Cook of New Mexico have "been chosen from among those
of one hundred and eighty-five anonymous contestants for four mural paintings for
the foyer of the San Antonio (Texas) Post Office and Court House*

The competition

was conducted by the Section of Painting and Sculpture of the Procurement Division,
Twelve thousand dollars
will be executed in fresco.

trill be paid for the four mural paintings, which
The mural scheme consists of a continuous frieze six

feet high running around the four walls of the entrance foyer and broken by the
arched heads of the doorways and windows.

Two murals will be seventy-two feet

long and two will be twenty feet long.
An Advisory Jury to the Section of Painting and Sculpture consisted of Ralph
H. Cameron, architect of the building, and two mural painters, Reginald Marsh of
New York City and Ward Lockwood of Taos, New Mexico.

Mr.Cook1 s mural designs were

chosen by a seven to one vote of the Jury and the staff of the Section of'Painting
and Sculpture,
Mr. Cook was born in Springfield, Massachusetts, and now makes his residence
at Ranchos de Taos, New Mexico.

In 1932 he was awarded a Guggenheim fellowship

for a yearls work in Mexico, the fellowship being subsequently renewed for a year* s
travel and work in the United States.

During this time Mr. Cook traveled extensive

ly in the Southwest and added valuable material to the study of characteristic
types of American people in which he has been particularly interested.

In Texas

Mr, Cock lived principally in San Antonio, Corpus Christi and the Southeastern
part of the state where in his work he recorded aspects of the contemporary life.

V

'
-

2-

M r / ’Cook1 s wcrk in addition tc etchings, woodcuts and water colors, includes a
fresco for a hotel in Tasco, Hew Mexico, and two frescoes in the Springfield
(Massachusetts) Court House, executed under the Public Works of Art Project*
Mr. Cock received the geld medal of honor awarded by the Architectural League*
of Hew York City for the finest mural painting executed during the past year*

This!

was a fresco for one of the court rooms in the Pittsburgh (Pennsylvania) Post Office!
and Court House, which he,won in a competition held for that building by the Sedtionj

4

i( I

of Painting and Sculpture*
Mr. Cook* s designs for the San Antonie murals are characterized by an intimat®
knowledge of the rich historical background of the city and the activities and
character of the modern Texans.
The competition attracted many of the outstanding artists of the country and H
was open to all American painters.

Singled cut for special recommendations by theB

Jury were the works of the following painters*
Kindred McLeary of Pittsburgh; Edward Panning of Hew York City; Symecn ShiminB
of Hew York City; Simka Simkhovitch of Hew York City; Philip Goldstein of Hew York«
City; Emil Bistram of Taos, Hew Mexico; Tom Pea of El Paso,,Texas; F. Pouis Mora |
of Gaylordsville, Conn., and Moya del Pino of San Francisco*
coOoo

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OH RESTORED TO SOLVENCY DURING THE! MONTH OF
_______________________ MAY. 1957

Per Cent
Dividend
Declared
to All
Claimants:

102*09
87.81
52*9
105*65
63*05

314.6
87*02
56.497
111.81
20*95

$ 50,000.00
35,000.00
40,000.00
25,000.00
200,000.00

232,988*00
158.682*00
285,002.00
105,420.00
178,996.00

73*78
48*38
81.
59.7
105*85

59*15
8.
73.85
51.71
114*93

100,000.00
100,000.00
50,000.00
25,000.00
50,000.00

-Ou
-Ou
—0—
52,564.00

10-27-33
10u50u53
10-3-33
2-9-33
31—3— 33

223,835*00
304,008.00
217,857*00
172,975*00
126,958*00

100.92
105.72
106*59
99*73
95.83

108*246
112.25
110.7
100.
92.17

50,000.00
50,000.00
25,000.00
50,000*00
25,000.00

93,514.00
36,534.00
70,887.00
-Ou
—Ok—

9-12-31
13-3-35
12-26-30
4-13-31
13-14-51

188,109.00
200,489.00
111,858.00
169,113*00
126,596.00

79.78
92*04
38*88
55.69
67.63

56.6
91.01
5#
58.
58.07

40,000.00
25,000.00
100,000.00
50,000.00
25,000.00

—0—
—0—
—0—
—0—
-0-

7- 17-31
823-33
3-13-35

179,007*00
512,837.00
495,905.00

48*42
303.24
67*91

18*15
107.09
56*74

50,000.00
100,000.00
100,000.00

—0—

Date of
Failure:
First National Bank, Ridge Farm, 111* 2/
Corinth National Bank, Corinth, N* Y*
First National Bank, Richwood, Ohio
Security National Bank, Fairfield, Idaho
First National Bank, Dublin, Georgia
First National Bank,
First National Bank.
Citizens Nat1! Bank,
First National Bank,
The National Bank of

Thomasville, Georgia
Greensboro. Alabama
Dickson, Tenn.
2/
Seward, Pa*
Pico, Calif,
2/

Earlville Nat’l Bank, Earlville, 111*
First National Bank, Hubbard, Itwra
First National Bank, Boswell, Ind*
First National Bank, North Bend, Neb*
Farmers Nat*l Bank, Dahlgren, 111*

8/

y
y
y

Cash and
other Assets
returned to
Shareholders*
Agent:

Per Cent
Total Disbursements
to Total
Liabilities:

Total
Disbursements
Including
Offsets Allowed:

lOulOuSS
$
88,467*00
3- 20-321,374,623*00
4- 17-51
211,248*00
3-19-32
99,426*00
9-24-28
988,355*00
7-27-32
7-21— 31
11-3-33
3— 10—30
3— 16—34

Capital
Stock at
date of
Failure:

$

60,124.00
«■»Qb»
—Ou
30,321.00
mmQmm
h O—

feu

First National Bank, Eudora, Ark*
First National Bank, Goldsboro, Pa.
First National Bank, Ladonia, Texas
Woodlynne Nat*l Bank, Woodlynne, N* J*
First National Bank, Noble, 111*

y

Floyd County Nat*l Bank, Floydada, Texas
First National Bank, Eutaw, Ala*
2/
First National Bank, Maryville, Tenn*

2/ Formerly in conservatorship *

—Ou

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
m ix 1937

First Nat1! Bank, Grundy Center, Iowa
3/
First National Bank, Youngsville, Pa*
1/
Paine sville Nat*l Bank, Painesville, Ohio 3/
The Old First Nat*! Bk*, Mount Vernon, Ind. 1/
The Nat*l Bank of Commerce, Amarillo, Tex«
1/
American Nat*l Bank, Gillespie, 111*

y

1/

4-*13*«34
2-3**54
3JL-21-32
9-16-35
9-5-53
9-22-32

$

Per Cent
Total Dis
bursements
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants:

27,665.00
55,730.00
145,785.00
95,463.00
425,652.00

50.46
90.25
73.21
85.05
85.10

50.461
69.538
58.731
85.027
22*442

51,776.00

31.23

5.97

Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation*

Capital
Stock at
date of
Failure:

$

88888

Date of
Failure:

Total
Disbursements
Including
Offsets Allowed:

50,000.00
50,000.00
150,000.00
100,000.00
150,000.00

50,000.00

TREASURY DEPARTMENT
Washington

jtead&yr Mftjr an;

f♦

rifJL A * * '
<
i'),
7
Comptroller of the Currency J. F. T. O'Connor announced today that the total
deposits of the 5,311 active national hanks in the continental United States, Alaska
Hawaii, and the Virgin Islands of the United States, on March 31, 1937, the date of
the last call made for statements of condition, aggregated $26 ,515 ,110 ,000, a de
crease of $1,093,287,000, or 3*96 percent, from the deposits of $27,608,397,000 re
ported hy the 5,331 active hanks on December 31, 1936, tot represents an increase
of $1 ,655,655 ,000, or 6*66 percent, over the deposits of $2^,859,^55,000 reported
hy the 5,381 hanks as of March H, 1936 , the date of the corresponding call a’year
ago.
Statistics compiled from 1918 to 1933 stow almost consistently that for var
ious reasons deposits declined at the time of spring calls.

The recent decrease,

however, is the first reported for any call since June 30, 1933.

The deposits on

March 31 of this year were exceeded on only one other call date in the history of
the National Banking System, namely, December 31» 1936.
The aggregate deposits on March 31, 1937» consisted of demand and time deposits
of individuals, partnerships, and corporations of $12 ,132 ,5^ 5,000 and $7 ,^01 ,39^,000, respectively; United States Government deposits of $291,70i+,000; State, county,
and municipal deposits of $2,119,798,OOOj postal savings of $86,316,000; deposits of
other hanks of $U,1 1 1 ,092,000; and certified said cashiers' checks, cash letters of
credit, and travelers' checks outstanding, etc., of $372,261,000.

The time deposits

of individuals, partnerships, and corporations included time certificates of deposit
of $600,688,000; time deposits, open accounts of $3^ 5 ,260,000; and deposits evi
denced hy savings passbooks of $6 ,^1 3 ,936 ,000, the latter figure representing
15»710,653 accounts.
The net demand plus time deposits held were $22,775,1^7,000, against which re
serves of $ 3 ,109 ,563»000 were required by law to he carried with reserve hanks.
The reporting hanks, however, held reserves of $3,929,87^,000, which was an excess
of $ 820,3 11 ,000.
The total assets on March 3 1 , 1937, were $30,0^9,172,000, a decline of $1,021,-

269,000, or 3*29 percent, in the quarter, hut an increase of $1 ,756 ,153 ,000, or 6 .2 1

percent, in the 13 month period since the corresponding call in 1 9 3 6 *
Loans and discounts of $8,^69,20^,000 increased $201,876,000 since December
and $1,038,3^0,000 in thirteen months.

Investments in United States Government obligations direct and fully guaran
teed were $8,165,225,000, a decrease of $520,329,000, or 5*99 percent, since De
cember, but an increase of $379,2^6,000, or **.87 percent, since March of last
year.

The direct and indirect obligations held on March 31* 1937» were $6,813»-

206,000 and $1 ,352 »019 »000, respectively, the latter figure comprising obligations
of the Reconstruction Finance Corporation of $1^3»9^6,000, Federal Farm Mortgage
Corporation bonds of $296,69^*000, and Home Owners1 Loan Corporation bonds of
$911,379*000*

Other bonds and securities held, amounting to $*+,082,065,000, which

included obligations of States, counties, and municipalities of $1,550»198*000,
decreased $12,^-25,000 since December, but increased $279*028,000 since March last
year.
Balances with other banks and cash items in process of collection of
$7 ,79^, 106 ,000, including reserve with reserve banks, showed a decrease of
$668,^72,000 in the three months, but an increase of $6*+,702,000 since March h

last year.
Cash in vault amounting to $^83,510,000 was $3^,993,000 less than in Decem
ber, but $lH,U68,000 more than that held in March a year ago.
The book value of capital stock on March 31» 1937» totaled $1,586,072,000,
and represented a par value of $1,591*701,000.

The latter figure consisted of

class A preferred stock of $285,826,000, class B preferred stock of $18,653,000,
and common stock of $1,287,222,000.

Surplus funds of $1,059,257*000, undivided

profits of $385,^5,000, reserves for contingencies of $15 7 *929,000, and pre
ferred stock retirement fund of $8 ,700,000, comprising a total of $1 ,6 11 ,331 ,000,
increased $39,13^,000 in the quarter and $231,362,000 since the March call last
year.

Bills payable amounted to $12 ,155,000 and rediscounts $112,000, a total of
$12 ,267 ,000, and showed increases of $9 ,617,000 and $7 ,09^,000 in the three and

thirteen month periods, respectively.
The percentage of loans and discounts to total deposits on March 31» 1937»
was 3 1 .9^, in comparison with 29*9^ on December 31» 1936, and 29*89 on March U,

1936.
0 0 0 O00 0

TREASURY DEPARTMENT
Washington

m RELEASE, MORNING NEWSPAPERS,
Tuesday. Mav 25. 1937,__________
5-21-37.

Press Service
No• 10-35

Comptroller of the Currency J.E.T. O’Connor announced today that the total
deposits of the 5,311 active national hanks in the continental United States,
Alaska, Hawaii, and the Virgin Islands of the United States, on March 31, 1937,
the date of the last call made for statements of condition, aggregated
$26,515,110,000, a decrease of $1,093,287,000, or 3.96 percent, from the deposits
of $27,608,397,000 reported hy the 5,331 active hanks on December 31, 1936, hut
represents an increase of $1,655,655,000, or 6 .6 6 percent, over the deposits of
$24,859,455,000 reported hy the 5,381 hanks as of March 4, 1936, the date of the
corresponding call a year ago.
Statistics compiled from 1918 to 1933 shew almost consistently that for var
ious reasons deposits declined at the time of spring calls.

The recent decrease,

however, is the first reported for any call since June 30, 1933,.

The deposits on

March 31 of this year were exceeded on only one other call date in the history of
the National Banking System, namely, December 31, 1936,
The aggregate deposits cn March 31, 1937, consisted of demand and time
deposits of individuals, partnerships, and corporations of $12,132,545,000 and
$7,401,394,000, respectively; United States Government deposits of $291,704,000;
State, county, and municipal deposits of $2,119,798,000; postal savings of
$86,316,000;. deposits of other hanks of $4,111,092,000; and certified and cashiers’"
checks, cash, letters of credit, and travelers’ checks outstanding, etc.,, cf
$372,261,000.

The time deposits of individuals, partnerships, and corporations

included time certificates of deposit cf $600,688,000; time deposits, open accounts
cf $345,260,000; and deposits evidenced hy savings passbooks cf $6,413,936,000, the
latter figure representing 15,710,653 accounts«

- 2The net demand plus time deposits held were $22,775,147,000, against which
reserves cf $3,109,563,000 were required by law to "be carried with reserve hanks.
The reporting hanks, however, held reserves of $3,929,874,000, which was an excess
cf $820,311,000.
The total assets on March 31, 1937, were $30,049,172,000, a decline of
$1,021,269,000, or 3>«29 percent, in the quarter, hut an increase cf $1,756,153,000,
cr 6.21 percent in the 13 month period since the corresponding call in 1936,
Loans and discounts of $8,469,204,000 increased $201,876,000 since December
and $1,038,340,000 in thirteen months.
Investments in United States Government obligations direct and fully guaran
teed were $8,165,225,000, a decrease cf $520,329,000, or 5.99 percent, since
December, hut an increase cf $379,246,000, cr 4,87 percent, since March of last
year.

The direct and indirect obligaticns held cn March 31, 1937, were ■

$6,813,206,000 and $1,352,019,000, respectively, the latter figure comprising
obligations cf the Reconstruction Finance Corporation of $143,946,000, Federal Farm
Mortgage Corporation bonds of $296,694,000, and Home Owners’ Loan Corporation bonds
of $911,379,000.

Other bonds and securities held, amounting tc $4,082,065,000,

which included obligaticns of States, counties and municipalities of $1,550,198,000,
decreased $12,425,000 since December, but increased $279,028,000 since March last
year.
Balances with other banks and cash items in process cf collection of
$7,794,106,000, including reserve with reserve banks, showed a decrease cf
$668,472,000 in the three months, but an increase cf $64,702,000 since March 4 last
year,.
Cash in vault amounting tc $483,510,000 was $34,993,000 less than in December.,
but $14,468,000 mere than that held in March a year ago.

~3~
The bock value cf capital stock cn March 31, 1937, totaled $1,586,072,000,
and represented a par value of $1,591,701,000*

The latter figure consisted cf

class A preferred stock of $285,826,000, class B preferred stock of $18,653,000,
I and common stock of $1,287,222,000.

Surplus funds of $1,059,257,000, undivided

profits cf $385,445,000, reserves for contingencies of $157,929,000, and preferred
stock retirement fund, of $8,700,000, comprising a total of $1,611,331,000,
increased $39,136,000 in the quarter and $231,362,000 since the March call last
year*

;;
Bills payable amounted to $12,155,000 and rediscounts $112,000, a total cf
$12,267,000, and showed increases cf $9,617,000 and $7,094,000 in the three and
thirteen month periods, respectively.
The percentage cf leans and discounts tc total deposits on March 31, 1937,
was 31.94, in comparison with 29.94 on December 31, 1936, and 29,89 on March 4,
1936,
coOoo

LIQUIDATION DATA

INSOLVENT NATIONAL BANKS
COMPLETELY LIQUIDATED AND FINALLY CLOSED
MONTH OF JULY 1937
DISPOSITION OF TOTAL LIABILITIES

A
B
C
D

- Dividend Payments
- Other Cash Payments
- Offsets Allowed
- Unpaid Liabilities
TREASURY

O ffic e

of th e

DEPARTMENT

C o m p tro lle r

of

th e

DISPOSITION OF TOTAL COLLECTIONS

$ 6,950,^50

5 2 .1%

$ 3 ,412,114
$ 1 ,068,311
$ 1,748,521
$13.179.196

2 5 .9^
8 .1#
1 3 .3 %

C u rren cy

E
F
G
H

-

Dividend Payments
Other Cash Payments
Returned to Shareholders
Expense of Liquidation

$ 6,950,250
$ 3 ,412,114
$
24,710
$
862.360
$11,249.434

61 .8#
30 .3%
.2%
1.1%

INSOLVENT NATIONAL BANKS
DISPOSITION OP COLU3CTION DOLLAR (INCLUDING OFFSETS ALLOWED ) IN
CLOSED RECEIVERSHIP BANNS THE LIQUIDATION OF WHICH HAS BEEN COMPLETED
TO
JULY 31« 1937

693 Receiverships Liquidated and Closed
Period March 16* 1933 to July 3 1 , 1937
TREASURY
O i l ice

of the

DEPARTM ENT

C o m p tro lle r

of

th e

C u rren cy

1804 Reoeiverships Liquidated and
Closed 1865 to July 31* 1937

m&mvr w

m

«àSBXBCm)«

mn

mmim

mmim
---------

i b n ^

Sooratury of tfca Traasury mr§»tàìmu mmmmeá laat avauing tte&t ttea taadtrs
for tno aarlaa of T»«®«0x7 H ila» ta te

datad

Iter 86 ,

«telali «vara offarad on

Itey 81, mm apañad «t ttea radami üaaarta teste# as iter 84.
Tardara vara invitad for ttea ta© aarlaa ta ttea aggregata anonnt of |lC^)toooÿOOO{
or tteara&touta, «ad 9856,590,000 ma appliad for, of «telali #100,801,000 ««a «a»
captad. Ttea datai la of tini tm aarlaa ara «a fallami $

Tmætmy mia, tetro Bmtmm B imf.
iter itila aarlaa, «telali ma far 180 , 000, 000, or tharaabouta, ttea total «nouât
appi!ad far ma t i f i ,010,000, of «telali #80,188,000 ma aaaaptad, Ttea aaeapted
bida rangad la pria# i r » 99.890, aqulvalant to a rata of atout 0*40? parean! p t
«nana, to 09,859, tçulm lant to a rata of «tant 0,441 partant par am a , om a
tank dlaecmnt baila*

oniy part of tini «nouât tld far at tta la tta r priât ma

aaaaptad* Tita araraga prloa of Trattar? t illa of tfcla aarlaa to ta issuad la
99,868 and tta amraga rata la atout 0,680 portant par annusi oa a tank dlaaouat
tarla,
ETROIT

buis

,m m m m

n m m , m as, if§t,

Por tbl# aarlaa, miete ma far #80,000,000, or tharaatoata, tta total menai
appllad for ma #188,881,000, et «telate #80,019,000 ma aaaaptad. Ttea aaaaptad
tlda rasgad In pria« fresa 99,868, agplmiant to a rata of 0,600 portant par anam»
to 99,886, agulvalant to a rata of atout 0,688 partant par axman, oa a tank diM »l
taala»

Oaly part of tta anount tld for a 1 tta lattar priât na» aaaaptad, Ttea

araraga priât of Tra&aury t i ll a of ttela aarlaa lo ta laaaad la 99,838 and Ita
«far«#» rata la atout 0,619 partant par «nana oa a tank diamant taala*

'ó-T

/; '
■
\

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS, .
Tuesday. May 25. 1937.
5-24—37 •

Press Service
No- 10-36

Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to he dated May 26, 1937, which were offered on
May 21, were opened at the Eederal Reserve Banks on May 24*
Tenders were invited for the two series to the aggregate amount of $100,000,000,
or thereabouts, and $356*570,000 was applied for, of which $100,201,000 was ac
cepted.

The details of the two series are as follows:
115-DAY TREASURY BILLS, MATURING SEPTEMBER 18,. 1937.

Eor this series, which was for $50,000,000, or thereabouts,the total amount
applied for was $171,019,000, of which $50,182,000 was accepted. .The accepted
bids ranged in price from 99.870, equivalent to a rate of about 0-407 percent per
annum, to 99*859, equivalent to a rate of about 0*441 percent per annum, on a
bank discount basis-. Only part of the amount bid for at the latter price was
accepted.

The average price of Treasury bills of this series to be issued is

99*863 and the average rate is about 0*430 percent per annum on a bank discount
basis.
273-DAY TREASURY BILLS, MATURING FEBRUARY 23,.. 1938.
For this series, which was for $50,000,000, or thereabouts, the total amount
applied for was $185,551,000, of which $50,019,000 was accepted*

The accepted

bids ranged in price from 99.545, equivalent to a rate of 0*600 percent per annum,
to 99.524, equivalent to a rate of about 0*628 percent per annum, on a bank dis
count basis.

Only part of the amount bid for at the latter price was,accepted.'

The average pribb of Treasury bills of this series to be issued is 99*532 and the
average rate is about 0*617 percent per annum on a bank discount basis.
ooOoo

TREASURY DEPARTMENT
Washington

Press Service
no. to ' 3 n

FOR M E D I A T E RELEASE
Tuesday, May 25, 1937

•MURALS D¥ WILLIAM"Ct TAI

«HswsaSSHSiiôiç;

mm»**

Section of Painting

The J H M i ii

and S c u l ^ t e ^ S ^ S T t ^ a y ihat William C. Palmer of New Y0rk City
has completed and installed two murals, oil on canvas, in the Post
Office Department Building, Washington, D. C.

The murals are placed

in the North elevator lobby of the seventh floor.

Mr. Palmer entered the first National Competition initiated by
the Section of Painting and Sculpture and was one of the eight painters
who won commissions.
B o m in Des Moines, Iowa, «January 20<li, 1906, Mr. Palmer began
the study of art in the Art Students League of New York.

After working

under Boardman Robinson and Kenneth Hayes Miller, he went to Europe to
study fresco and worked there under M. Baudoin in the Ecole des Beaux
Arts, Fontainebleau.

Returning to America he was employed by the

Public Works of Art Project and executed a mural for the Queens General
Hospital.

Mr. Palmer has exhibited widely and is represented in the

Whitney Museum of American Art and various private collections*

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE
Tuesday, May 25, 1937,

Press Service
No. 10-37

The Section of Painting and Sculpture of the Procurement Division announced
today that William C. Palmer of New York City has completed and installed two
murals, oil on canvas, in the Post Office Department Building, Washington, D#C.
The murals are placed in the North elevator- lobby of the seventh floor#
Mr, Palmer entered the first National 'competition initiated by the Section
of Painting and Sculpture and was one of the eight painters who won commissions.
Born in Des Moines, Iowa, January 20, 1906, Mr. Palmer began the study of
art in the Art Students League of New York.

After working under Boardman

Robinson and Kenneth Hayes Miller, he went to Europe to study fresco and worked
there under M. Baudoin in the Ecole des Beaux Arts, Fontainebleau,

Returning to

America he was employed by the Public Works of Art Project and executed a mural
for the Queens G-eneral Hospital.

Mr. Palmer has exhibited widely and iw represented

in the Whitney Museum of American Art and various private collections.
ooOoc

L

Corporation returns for 1934, by States and Territories, showing for returns with net income and no net income, number of returns, gross income ^deductions, net income
or d eficit, income tax, and excess-profits tax; also number of inactive corporations
v'I ,* *

STATES AND TERRITORIES

r. S | | B

(Money figures in thousands of dollars)

—

■
n r “ T
Returns showing net income:

Total
number of

Number

iGross incomelj Deductions 1/

Net income jy

Number
Excessprofits
y~r,

Income tax

returns

»ross incomel/ Deductions

ALABAMA

Hi

■ * n i

Alaska -M

r|5c

1 5?l

Arkansas

2

51. 1.

___ 2511>l

California
COLORADO

CONNECTICUT
DELAWARE
Florida

55 (c.{

155^:

3 4+?

11)%%
^ d U,

U

i

Ls'jL.

i ^ i4- sisg|

1444 L i d

224 8£ o

3?5t

2 o 3 o *1

2+11 5

loo^3J

411A2?j

a itili

|§lj|§g

1' 'll

4 » 324

I2 ??2

\ 5c>4;

SloSioj

I14 382

4? 512

22«1IJ

3)45
2 2 k 5T

» +2?

22-1 222Ì

M|+¿1

32144

§ 423

2o?2S+;

A+-3SI+.

35 aU

5 3 0 p . 4;
) 51 f+l

3 1 53

22? + 0 5

251033

22 U ?

342

+ o Is?:

U M 3j

411,

4054042.

4115
44?4-5?

_Il I

‘S S g Id,
iLbfftiioj

X 54?

\ '\ i 324!;

J

I llinois

4 ++1 4 1 (

I ndiana

44+5+

Kentucky

'

>i 4 5 5

+4 31 So)

5244.

S' i l ol 3 j

Louisiana

S¿4l..- i

5 143 14

Ö

2541öS.

4 ¿ 44?1
A
13 lililí

lis i

2 551 1 1St

Michigan

I 5522,

4442,

4'4 ist s a w

4- 1^5 c) b

Minnesota

I I 24?

3 IS 5

1321

Mississippi

M ai

lASii

045I

I%%?>%:

A o 15 5 5 ?

24U,

M l 1+3

Nebraska

4 li i
4§ l

H 2 U I

New J ersey

2 S 3 ?3 ,

New M exico

ll?l

4444.
344

I? 4 4 1

2+3i*?í

North C arolina

5 4 0 c!

254I

North Dakota

I 5t l £

giS J

3L.U I SI

E +4'

¿ E i a 14a)

N ^ orkH

Ohio

iid i

I % 4 -f
1

1al l 3,

?

i 5 5 ? A.

53+3Í

Utah

laaj

Vermont

+ 0 +!

4 4 I.

\ 3 ?4
l

£

ì

41

2+ 4 ¿„4
5 5 l | .d
4-4 4 . 0 0 J

1244241!

2 1 3 ??

14'4
132

4~L *|&i

41 3HC
I 3 1 Ÿ 03
I 33 544
1 5
13III;
)2>5|
)% \
ÎpS 2 0 1 2 4 !
r
1+
\ ISO
\\552i%c>
11+041
^c\ %j .
2 4 2 1 11
t»oj
ill. ____ 111__ ___ 1 +5 +

2 10 44

40+14
14224?
1 2 I 0 k?

11*44

H 44c

? ? 11

.}k.L.

132 S+j)

? 0+4
Ì 4*53-3 i:

I5ÍI2I

+ 151
1

L L!U

5M+I2
?? 4 +2 ;
2 4 ?4 ! 3

124

âlr X o l

4-32.5

4a a si

2544554

aoo

'¿34

I 11 + $ l

I 20 1 1 O:

4'5 +

1+02)5
233 114

+ S o ?4

4 -2 4 +

a* siif

1 5+3
2 ?Sf.

2HL 0

4250+1

ï 1+4

? l ? + OM

2S4044
44+ 5ol

-H + ^ a a

4? 5

5+

West Virginia

\ 4 a li

+ 3 0 4 0 1 !

+ 0 1 Ä J

Wisconsin

+113,
15410;

Wyoming

\z\ll

I

) 40 +

I

I550 .
(fill

U 2J

M 4 +:
l +93

AS4U;

2525

A4 0 0 ?

)02.rl4Ü|__ 4 4 Ü Í 4 ___ 51 AO 4 )

2+ H 4 -

l o ? 044

+4 isof

5+540

+ ?4

230 C.3 I
334314
i $4 11 ?.

2l l + ? I
¿ 4 I 1+4

»1+50

S d + 1 c»4

11*411

l S + 5+1

14 l i 2
5 1 0*0

t l + 43+

¿ I ? 3c>

24?4+
I

4 I4 3 W

MM

4 o +34

4?4

O^lqi

1242045^ 5? 1 + ^ 1 5 Ì + 245144!

.

jBMLi I

32+40»! » 4 410 24 4! +2041 ¿ a l.

--

+ i? i ca 1

J

\âS"
j*

? 4 '>4 + -

Gross Income and deductions correspond to total lnoone and total deductions (ilems 14 and 26 respeetivelyl on face of return) plus, ih each instance, cost of goods sold and copt of operations (ItemsE end
Interest received on Liberty Bonds, etc.lutem 11 on f+oe of return) Jhas been deducted from grosl income so thft gross incomb will include the sairle items as i ^ ^ H | r e a r s .
E x clu d es d iv id e n d s r e c e iv e d on s to c k o f d o a s s t ic c o rp o r a tio n s

w fm Ê
'
i
34
llii
35m

\ 0 43+

1 Á¿>!¿ cxRX

3 13 14 +I 344 1+4____ ¿I 45+

5?4 I H p
+C+440

31

X%11.

22+4

èxO l o

l+ISil)
51 0 43+

i ; If r

14ass'! 3540452. á ?46 5ioj| 31445?

+5 + 04!

i

w

a i

-

41 g o 4|

042044
5 + 3 V4

X h 'O

11 024

!

4i f 9 o I

Ei.V4.4 -

5 52 ol!

4 -0 0 51

24 c>

l+5-iol

20 + 5 2 l l
I 0 ] | 0.31 .

?4 .
2 4 1 "!

h j 1 ?1-

1 1 2 4 ««

I 1 + 5 'j

5 2 1 34E.

1 13 4« af

3 1 S'

I 4 2 ? 4 l|l

lra?+!

Washington

Total•••••••••••••

5

4 50 4 1 ?
1 -4 1 4 4 4 :

4 11 3

x|

0424____ 1 + 3 ,+ fljj------ 4 l o i(

X5+a|
+ SS4 Í

144 315 ,

2255

L2J ) 55;,

53o?o

1a + +
1143]

Virginia

4 Ml

4+

2+ 4123,

3 4 .a

256 +1;

Texas

144a,

a a lfc s a !;

3 441143

5244411

3os ir

3 +? i

4aa^"4

1 4 1 s:

24 a. I e 4

i 214

? 10 +

5234I

2 l 2. u 4i

^ X2>5Í

2?l+M

m

+ i+ +
2 313 .
313 ?
I 3 1 2 2/

+ 1^ 1

1V 24

Tennessee

4354.

L¥? 4 + 3

1p K i

M ill

2V 001

i -I lo s j

A+M U

S outh Dakota

24I9 3 I

35H;

(o 0^2»,

2 + 3 4 >1
?lc 4f£T

214330!'

1 4+4 1

Oregon

$2>\
14 a.

2^45

+ a » |

+ 4 + 3541:

XX

g o ï'll

¿SíoV-

1S3 +

S outh C arolina

20 as i

2 5 4 1 4 4 ;!
+4041)

3553

l ôlpcjt

Rhode I sland

Í 34 013

3 5 4 .lv,

11 Ip \ Ip\ !
2, 0 5 4 !
II 4 1 532
i s s i l;
AO?gl

14?r4+o;
+ 1104;

Oklahoma
Pennsylvania

a\? 454

d

' '

4543?

4-4 M

2^24-

32Ä U

133 35 "
|M m 3

4 4 2.

4404;

3 *]{>%:

5 e! ? I c
__ u M

Montana

453I 4

Ì4M

U 1 1 I
11M
X 2>%0 OTç -j

Missouri

11

& lA + !

A4 25 4

i? 4v 4

A-52>t

21 0 4 4

144»
21 2 o l

Hampshire

3 .2 'I? 5
4 » 21*4

lo III

Massachusetts

new

gj ++4Í

%XI3\

Ml

2>l ? 3 ? +

4 I î o l)

Nevada

■5-% (o^ \ li

r

T 0 n im\ 5

524 4 &S|

Maine
Maryland

n

4\ 2 2 "l
¿ l o s 13 3 ;

lo 5 ?4c

Iow a |
Kansas

U o i

l l 45s

4 M ,

H awaii

¿|{ So 2

?| lot.

35p|3!¡

í 4<]

i i j!

U 4 <4
5145

1 2 'J lá-o

lo^5¡;

4-s' 11

l+l ?3+
+|+11

l à 5 t i 2,

■

i*\

Uí

342

r f° ^ l

2>$Z'hO%\

^ü

W \ S3?
3 103 I

5"04-1

3 4t r

Up '|S2|

G eorgia

SI

¿ |o A

A m o lli’

l>?2+
2S'|X

DisT. of C olumbia

\9R

\o^+e>|

262

Arizona

I daho

Aâôllo

Number of ren -. . «/ turns showing
Deficit*/ no income data
— Inactive
¡corporations .J-

MjMMteMkt

T
on face of return).

dit for interfst received o| certain obli|ations of the! United States! and its instrjjxmentalities i,p not allowed ^gainst net lineóme in the computation of %he
Includes excess-profits tax of #37,54|b on returns with no net indome, since cr
-profits tax. (See'I*lcle 1 (d) o ì Treasury Decision 4469, "R+gulatlons relating to the eicess-profits tax imposed by|Section 702 of the Revenue Act of 1934.'

excess

IÜ

Corporation returns for 1934, by major industrial groups and. by returns with net income and no net income, showing number of returns, gross income,
deductions, net income or deficit, income tax and excess-profits tax; also number of returns for inactive corporations.
tures in thousands of dollars
Total
number of
returns

Industrial groups

Returns showi lg net income
Net income

Number

Agriculture and related industries

/O 5*24

Mining and quarrying

/ * 65*41

m e

2 ? 4 5 75

774 &

//6/ 7 7 5

26 S
WÊMË;; ;
/ a o S 7 /2

3osyZ
/ 5 4 06 3

Income tax' |Bgcegg^^poifft'

Number

-7/75
2/Í750

(turns showin
Gross incomel

no net incaa >
Deductionsl/

29/ /3 5

3^4 7 0 7

/ 375 737

/5 7 / 3 /2

Number of
returns show
ing no income
data— Inactivd
Deficit 2/ corporations

i&s-yji

Manufacturing:

34 2 j

Food and kindred products_________ ,

302 32 g

JáL445

7 5 5 st>s

974^^:

/3 7 2 7

726 7 7 6

76 2 7 6

Z ttfà <jOé
— 672 5 4 7

/4¿/ 7 0 2

/3 2 7 /
/7 5o5|

492

Liquors and beverages (alcoholic and
nonalcoholic)

de/ 5 7 4 1

3 liî\
ífo

Tobacco products

/023273

Textiles and their products

3 QL/o/oOd

J I■■they and lt.a manufactures_______

__ 7 0 7 0 3 s

2¿U 3

Rubber products
Forest products
Paper, pulp, and products

34 76*

342 7 ^ 4

3 + 1 Ito

77

4*5S |

770 3 3 5 J

7 6 3 /2S*

2 7 z/o

23/5

766 7 5 3

ssèste-

So 557

776

7

¿ 3 7 / 3/ 0 __ / 722-770!

SL

Í2i

/S 73-5
* 0» J

207 705

34 3*3
2237457

S'.O /S

3 i 7 //7

2 0 7 7 I

3 7 3 775

3 77>[
// /2 3

__

ÜtLiobx
JÓ SÌ06

4 oe <
o 5*

;l;|/ 7 7 «

377752

3 7 6 ./ 7 J

7 6 7¿>8

Printing, publishing, and allied
...industries_________•
________________

/ 3 6 3 a ------ + ‘tq<k___ m s
« -

Chemicals and allied products

J

5322

gy

754Ï

277Í 755I

5Y ¡*72

777I

57J

Metal and its products

4 *741

7 b+o 3 $ ^

Manufacturing not elsewhere classified

/szd

772 5 7 3

Stone, clay, and glass products

Total manufacturing
Construoti on
u tilitie s

¡Irada

74 4 7 *

37523

n is t

3 353

****

i Sot

7

---- /7 4 ¿35*4 _____ 5 2 * 2 ^

^7772

//¿y»

6 S o 52.72
7 0 2 35/

7/0 Z S 5 *34

s n *1+
s H ys / f Ä
ZZiftU j s o i

Z4775

S+5/SO

/

(aÍSJaLi

32703/

7742.7

7 5 5 7

3 325577

4 / 757

Î77/

2 777

23575^

535V77

73 427

/2737

35**o7¿|

3 747

753320

70/72

7452I

7 ^ 4 A 57

2 4 2 7 4 4|

3777

571247

477

/2 55*

7/7 * 7 *

/5-57Z

2 2 2 7 7 / 7 2 ____ 470 3 3 4

* * 0 55

3/

/365o

ö

4^|

¿>í/ <?¿>¿

35o4

lodisi,

7(

/7*SV2

27X ^ 5v |

34531

4 7 4 774!

/// * 5 4

<4^76^71

?26

/ 7/o

74 « 3 d

■ S ík'] 734]
/ o 4 ) o 6<?

?/6

6 4 /? ? f 6

M q M

S/S'í
Ælfe

Service-Prof033ional, amusements, hotels,
etc.

u/Ä / y^ej

-5f>7*f

I 4 S + O S 1 /o'l^ö'j

/7*4

37*

57^/5

■372!

7 *.g 37l

/ */2 7 3 /

2 5f5*3d

a * 3 ^

5577

Finance-3anking, insurance, real estate, j
holding companies, stock and
¿?d

S
I '
SOS'- afcyl 1 /2 .5-83 as-;

bond brokers, etc.____________ |_

[Nature of business not given

/a

Ä z r g-?*

Grand total

m

a

07/

1‘J S / o i j 6;? ¿JZoc¡54\ s t ktfS'jsq

752 7/*
/2;
5** 37 ^

/ 2 5T/|
7473

7 * 4 * * / 3 y LSZLooi.

357

3 2 7 7 ö 3 | 3 7 7 /5 2 7 7 ! +3-01}l Ì2b\

t e

I 1/

Gross income and deductions correspond to total income and total!deductions (items 14 and 2qL respectively] on face of ietum) plus, :n each instan< 0»
cost of goods sold and cos| of operation! (items 2 and!5 wmaaaaaaaaxx on face oi return). Intire3t receivea on Liberty B|nds, etc. (i em 11 on
,
face of return) has been deducted from gross income sol that gross inlbome includes the same items as in prior »ears.
!£ / Exclude* dividends received on etock of doaietic corporation*.
3/ Includes excess-profits tax of $37,5|o on returns |ith no net infane.
(See article 1(d), Treasury Decis m 4469, "Regulat ions relating to excess-] rofits
tax imposed by section 702[Of the-Revenue"Act Of 1934
j

\

jte I,

1 / Includes special non-oxpense deductilns of life insurance comp« Les.
IBBM1TTT

LiaSq.

S OS'
if ri! 03TJ

- 3 Second release, continued

ever, do not occur when each company files separate income tax returns#
Consequently, items of assets, liabilities, receipts and deductions,
as well as dividend payments, gross income, net income, and tax are
materially affected by the absence of intercompany eliminations in
the tabulations of the 1934 returns, due to the removal of the priv
ilege of filing consolidated returns (except by steam and electric
railroads)•
3#

The classification of consolidated returns by returns showing

net income or no net income and by net income or deficit classes is
detemined by the composite net amount for the group included In
the consolidated return, whereas, for the separate returns filed for
iki 1934 the classification is based on the net amount on each return.
The same basic distinction obtains in the classification of the
consolidated returns and the separate returns by size of total assets.
4.

Consolidated returns were frequently filed in States other

than those in which the principal places of business or principal
offices or agencies of the subsidiaries are located.

Consequently,

in 1934, with the break-up of the consolidated returns and the filing
of separate returns for each subsidiary, the geographic distribu
tion of the subsidiary companies differs in many instances from that
of the consolidated returns.

-

2

-

Second release, continued

excludes street, suburban, and interurban railways and express,
refrigerator, and sleeping car companies), with an increase in the
tax rate for such returns from 14 3/4 to 15 3/4 per cent; a new
definition of capital assets which includes all property held by
the taxpayer, regardless of time held, whether or not connected with
trade or business (except stock in trade, property which would ordin
arily be included in inventory, or property held for sale to customers
in ordinal course of trade or business); and the limitation of deduc
tion for losses from sales or exchanges of capital assets to an
amount not in excess of $2,000, after deducting the gains from sales
or exchanges of capital assets, applicable except to banks and trust
companies a substantial part of whose business is the receipt of
deposits*
The data for the 1934 returns are not strictly comparable with
those for prior years, for the following reasons:
1*

The consolidated returns, which were necessarily classified

according to the predominant industrial activity of the consolidated
group, embraced subsidiary concerns which frequently were engaged in
industrial activities entirely different from the predominant bus
iness of the consolidated group.

Under the Revenue Act of 1934, a

separate return is filed by each of the affiliated corporations
(excepting railroads which may file consolidated returns) and each
of these separate returns is classified on its predominant business,
with the result that many 1934 returns fall in industrial divisions
other than the ones in which they were included in prior years.
2.

In the consolidated returns there frequently are offset

items commonly referred to as "intercompany eliminations" which, how-

Second release

TREASURY DEPARTMENT
Washington

DRNINGr NEWSPAPERS
•E m.

¡faVTAJûLJj'

2

Press Service
No* / 0 -

h

Secretary of the Treasury Morgenthau today made public the
first of a series of tabulations from the "Statistics of Income for
1934, Part 2" compiled from corporation income and excess-profits
tax returns for 1934, prepared under the direction of Commissioner
of Internal Revenue Guy T. Helvering,

This report will be released

at a later date.

i

Data are presented by States and Territories and by major indus
trial groups for 528,898 returns filed by corporations comprising
145,101 with net income, 324,703 with no net income, and 59,094 for
inactive corporations.

The aggregate gross income reported by all

corporations amounted to $100,831,253,000.

The net income of cor

porations with net income amounted to $4,275,197,000 and the deficit
of corporations with no net income amounted to $4,181,027,000.

The

net income of corporations with net Income exceeded the deficit of
corporations with no net income by $94,170,000.

The total income and

excess-profits tax liability amounted to $596,048,000.
The returns for the calendar year 1934, tabulated in this re
port, are filed under the provisions of the Revenue Act of 1934.
Among the major changes in this act affecting tabulated data for
corporations are the following:

The privilege of filing consolidated

returns is limited to steam and electric railroads (the term "conmon
carrier by railroad" includes steam

and electric railroads, but

TREASURY DEPARTMENT
Washington

EOR RELEASE, MORNING NEWSPAPERS
Monday, May 31. 1 9 3 7 __
5/26/37.

Press Service
N o . 10-38

Secretary of the Treasury Morgenthau today made public the first
of a series of tabulations from the ’’Statistics of Income for 1934,
Part 2 ” compiled from corporation income and excess—profits tax returns
for 1934, prepared under the direction of Commissioner of Internal
Revenue Guy T. Helvering.

This report pill be released at a later date.

Data are presented by States and Territories and by major indus
trial groups for 528,898 returns filed by corporations comprising
145,101 with net income, 324,703 with no net income, and 59,094 for
inactive corporations.

The aggregate gross income reported by all

corporations amounted to $100,831,253,000.

The net income of corpora

tions with net income amounted to $4, 275,197,000 and the deficit of
corporations with no net income amounted to $4,181,027,000.

The net

income of corporations with net income exceeded the deficit of cor
porations with no net income by $94,170,000.

The total income and

excess-profits tax liability amounted to $596,048,000.
The returns for the calendar year 1934, tabulated in this report,
are filed under the provisions of the Revenue Act of 1934.

Among the

major changes in this act affecting tabulated, data for corporations
are the following:

The privilege of filing consolidated returns is

limited to steam and electric railroads (the term "common carrier by
railroad" includes steam and electric railroads, but excludes street,

3

2.

In the consolidated returns there frequently are offset items

commonly referred to as "intercompany eliminations" which, however, do
not occur when each company files separate income tax returns.

Conse

quently, items of assets, liabilities, receipts and deductions, as well
as dividend payments, gross income, net income, and tax are materially
affected by the absence of intercompany eliminations in the tabulations
of the 1934 returns, due to the removal of the privilege of filing con
solidated returns (except by steam and electric railroads).
3.

The classification of consolidated returns by returns showing

net income or no net income and by net income or deficit classes is
determined by the composite net amount for.the group included in the
consolidated return, whereas, for the separate returns filed for 1934
the classification is based on the net amount on each return.

The same

basic distinction obtains in the classification of the consolidated re
turns and the separate returns by size of total assets.
4.

Consolidated returns were frequently filed in States other than

those in which the principal places of business or -principal offices or
agencies of the subsidiaries are located.

Consequently, in 1934, with

the break-up of the consolidated returns and the filing of separate re
turns for each subsidiary,, the geographic distribution of the subsidiary
companies differs in many instances from that of the consolidated re
turns .

-

2

-

suburban, and interurban railways and express, refrigerator, and sleep
ing car companies), with an increase in the tax rate for such returns
from 14 3/4 to 15 3/4 per cent; a new definition of capital assets which
includes all property held by the taxpayer, regardless of time held,
whether or not connected'with trade or business (except stock in trade,
property which would ordinarily be included in inventory, or property
held for sale to customers in ordinary course of trade or business);
and the limitation of deduction for losses from sales or exchanges of
capital assets to an amount not in excess of $2,000, after deducting
the gains from sales or exchanges of capital assets, applicable except
to banks and trust companies a substantial part of whose business is
the receipt of deposits.
The data for the 1934 returns are not strictly comparable with
those for prior years, for the following reasons:
1§

The consolidated returns, which were necessarily classified

according to the predominant industrial activity of the consolidated
group, embraced sub áidiary concerns which frequently were engaged in
industrial activities entirely different from the predominant business
of the consolidated group.

Under the Revenue Act of 1934, a separate

return is filed by each of the affiliated corporations (excepting rail
roads which may file consolidated returns) and each of these separate
returns is classified on its predominant business, with the result that
many 1934 returns fall in industrial divisions other than the ones in
which they were included in prior years.

Corporation returns for 193^» by States and Territories, showing for returns with net income and no net income, number of returns, gross income,
deductions, net income or deficit, income tax, and excess-urofits tax; also number of inactive corporations
(Money figures in thousands of dollars)
--- --------------

•----

STATES AND TERRITORIES

1

2
3

6
7
s
9
10
11
12
13
16
17
u
19
20
21
22
23
2b
25
26
27
28
29
30
31
32
33
35
35
36
37
38
39

bo
bi
b2
U3

Sir

U6
by
kg

bo
50
51

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawai1
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
‘ Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
7 Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Total ..........

:
Total
: number of
:
returns

:
:
1

«

•

Number

Gross income l/

Returns showing net income
Net income 2/
Deductions 1/

’
Income tax

203
1 ,5 8 6
2 ,3 6 6
2 5 ,1 0 6
6 ,S2 U
8 ,9^8
2,572
2 ,59 s
9 ,6 09
5,900
791
2 ,2 7 0
3 U, SI+5
12,275
8,9 9 0
•+,955
5.299
6.995
3,897
6 ,7 6 0
2 1 ,2 0 6
15,522
1 1 ,2 9 8
2 ,3 2 6
15.835
2 .9 6 7
U,6 ll
956
1 ,1*72
25,383
1,181
118,9^1
5,900
2 ,8 8 5
2 6 ,1 5 1
6 ,0 6 0
6 ,0 9 3
2 S.6U 6
3 ,5 0 6
3,322
2,811
5 .2 3 9
15,582
2 ,3 0 2
1,21+1+
6 ,8 9 3
1 1 ,1+57
i+,662
15,910
1,313

62
389
907
7 ,1 1 2
1,559
2,385
706
918
2,332
2 ,2 7 7
371
593
9,976
3 ,61+6
2 ,651+
1 ,671+
1 ,8 9 2
2 ,0 1 2
1,087
2,187
6,188
U, 7 U2
3,185
835
6,879
937
1,379
195
509
U, 7^7
31+7
2 l+ ,318
2.576
785
8 ,1+71
1 ,831+
- 1,1+27
8 ,10 l+
91+7
1 ,3 3 6
692
1 ,9 6 8
5.3^3
802
UoU
2,5l+2
2,903
1 ,7 2 6
•*,559
391-

6 6 ,78 2
1 3 3 ,6 3 2
2 ,7 9 0 ,8 7 6
3 8 5 ,3 0 8
9 6 2 ,9 25
760,ll+9
30 5,6 9 6
32 6 ,8 6 1
5 6 5,9 9 0
1 7 6 ,3 2 7
6 9 ,7 0 3
7,i+!+6,96o
891+, 51+0
6 0 5 ,81+0
1+93,750
5 7 6 ,0 1 3
5 2 7 ,1+52
191 ,809
6 8 7 ,1 1 9
2,557,615
1+,9 1 8 ,5 2 2
1 ,32 6 ,0 9 5
119,709
2 ,0 1 8 ,5 5 8
1 1 6 ,11+3
3 I+2 ,666
133,357
1 0 5 ,1 0 2
1,785,960
1+1 ,1+07
1 6 ,0 8 8 ,09-5
81+9,384
66,952
3 ,8 1 2 ,1 7 2
6 7 6 ,3 8 9
21+2,517
U, 3 2 2 ,1 1 7
293,303
2 6 3 ,9 1 6
56,905
527,991
1,389,776
151,093
65,281+
61+1,816
5 1 0 ,73 *+
1+30,706
1 ,0 25,6 9 6
29 ,0 56

6 3 ,5 0 3
1 2 7 ,6 3 0
2 ,5 6 2 ,181+
352,323
889,706
666,820
282 ,825
310,1+03
5 3 0 ,86 *+
159,7*+1
6 6 ,0 1 3
7 ,0 7 8 ,5 7 5
83 !+,1+21+
5 7 8 ,5 8 6
*+73,760
532,033
*+9 5 ,9 6 5
179,171
6 3 1 ,1 7 1
2,780,250
6 ,6 35,9 6 0
1 ,266,285
1 1 5 ,0 3 9
1 ,8 75 ,6 6 8
1 10 ,6 2 3
32 2 ,7 6 1
129,955
97,362
1,618,779
39,3*18
lU,S9 6 ,560
7 8 3 ,8 1 8
61+.S69
3 ,5 5 2 .**98
**2 5 ,3 1 3
2 33,2 8 2
3,991,593
2 72,9 9 6
21+9,807
5 5 .1 7 0
1+99, !+S0
1 ,3 9 7 ,2 7 1
1 & 3T**s6
pi,279
5|7,135
U&U, 9 70
i+pl,698
97**, **87
2 7 .6 U 3

6 ,0 0 2
22 8,6 9 1
32,985
73,219
93,329
2 2 ,8 7 1
1 6 ,1+58
3 5 ,1 2 6
16 ,58 6
3 ,6 9 0
368,785
6 0 ,1 1 6
2 7 ,25 **
19.990
**3,978
31.**87
1 2 ,6 3 8
55,9**8
177,365
282,582
59,610
**,670
ll+2 ,8 9 1
5 ,5 2 0
19,905
3, **03
7,76o
l6 7 ,l6 l
2 ,0 5 9
1,191,532
65,566
2 ,0 8 3
2 5 9 ,67 **
¡+9 ,0 7 6
9,235
3 3 0 ,52 **
2 0 ,3 0 7
i*+,109
1,735
2 8 ,5 1 1
9 2 ,501+
7 ,6 0 6
i+,005
5l+,682
2 5 ,76 *+
2 9 ,0 08
5 1,2 0 9
1,1+13

1 ,50 **
7,6
1+51
825
3 1 ,1+1+9
**,536
10,073
12,882
3,i**5
2 ,2 6 5
1+, 830
2,281
502
50,791
8 ,2 7 5
3 ,7 6 8
2,772
6 ,01+7
**,357
i,7**3
7,521
2 l+,388
38 ,36 2
8 ,2 36
639
1 9 ,6 6 1
759
2,737
1+68
1,0 6 6
2 3 ,0 3 6
283
16 **,0 7 3
9,015
286
35,80**
6,7*+7
1 ,2 6 9
1+5 ,1+09
£.792
1 ,91*0
239
3.920
1 2 ,7 2 1
1 ,01+3
551
7,519
3,537
3,927
7,0**2
191+

5 2 8 ,8 9 8

11+5 ,1 0 1

62,920,951+

58.6>*5,757

**,275.197

588,375

3.797

1,295

21+1,750
1+.1+5S

230,810
3,902

io,9**o
556
3,279

r

"

lL
ar- '

Excess
profits tax 3 /

Number

Returns showing no net income
Deductions 1/
Gross Income 1J

100
52
15 U
6

2 ,09 8
,115
809
1,336
1^,675
3,251
5,9*to
1,509
1,1+28
5.1*23
3,153
392
966
21,0 9 9
6,965
i+,i+09
2,829
2,895
1+, lUU
2,313
3,735
13,6 2 2
9,103
6 ,1+lU
1 ,3 2 5
9,151
1 ,6 4 7
2 ,78 U
1*93
265
18,101+
596
23,689
2 ,9 2 0
i,**5*+
1 6 ,0 6 7
3,563
3M x
1 7 ,2 5 5
2.2Î+9
1 ,70 **
i,5**3
2,858
2,61+9
1 ,5 5 0
767
3,79**
6,1+83
2,525
9,177
727

1 8 1,338
3,103
37,302
2 2 ,131
l,7 ll+, 3 O5
3 0 3 ,0 8 7
7 11,2 2 8
570,810
321,222
3 0 0 ,25 !+
2 2 8 ,1+05
i+0,655
1+1 ,221+
3 ,6 0 3,633
507,6 88
232,770
218,757
2 6 7,8 30
262 ,121+
121,155
593,365
1,872,967
950,968
676,997
21,179
939,236
1+6 ,340
136,803
33.599
73, l*+9
1,393,616
2 0 ,1 2 7
1 1 ,5 52 ,6 50
2 7 2 ,7 6 1
3**, 305
2 ,179 ,2 2 2
641 ,305
226,652
3 ,5 7 0 ,7 5 2
3 1 2 ,1 9 5
1 1 1 ,1+56
1+0,813
2 3 3 ,1 1 9
868 ,1+03
8 0 ,1+U9
i+9,680
2 3 0 ,0 3 1
3 3 9 ,3 1 7
187,112
611+.931+
2 **,769

1 9 9 ,83 **
3,‘*75
1+2 ,1+97
8 8 ,70 6
1 ,91+2 ,1 8 5
2 2 7,2 6 2
782,1+07
619 ,382
21+3 ,1+21
21+3 ,511+
2 5 1 ,0 3 3
*+5 ,3 6 7
**5.938
U,0 5 7,0 9 2
569,369
2 5 9 ,70 8
2 3 9 ,0 1 3
2 9 1 ,8 3 1
292,689
2 0 2 ,2 5 3
6 6 3,72 2
2 ,01+5 ,2 6 6
1 ,0 7 7 ,0 3 6
76 8 ,8 0 1
89,990
1 ,0 72 ,0 7 9
5*+,387
l^U , 626
38,255
79 ,2 9 0
1 ,5 8 8 ,1+62
22,696
1 2 ,7 8 8 ,71+2
29 8 ,9 6 3
3 8 ,61+0
2,379,559
688,963
2**9,733
3 ,8 9 0 ,5 10
3**9,i**7
12 0 ,6 10
**5-087
257,079
976,501
90, **39
5**,570
266,1+81
3 7 6 ,1*17
201+,109
68l+,5i+7
2 9 ,8 7 **

7 ,6 7 3

32*t, 703

3 7 ,910,299

6 2 ,0 9 1 ,3 2 6

61+

6
21
3*+
382
103
1+2
ll+5
1+9
81
71
9
19
799
210
73
1+9
100
68
27
11+3
216
325
151
23
256
28
5 I+
18
8
135
ll+
1 ,7 2 0
110
12
525
139
24
1+81
35
26
10
92
3**o
19
6

99

.

—

Deficit 2/

2
;
:
;
.*

Number of returns showing
no income data
— Inactive
corporations

18,1+97
372
5,195

UoU

6 ,5 7 6
2 2 7,8 8 0
2 6 ,1 7 5
71,179
**8,572
2 2 ,19 9
3 5 ,2 6 0
2 2 ,6 2 8
**,711
6 ,7 1 5
1+1+8 ,1+58
6 1 ,6 8 1
2 6 ,9 3 8
2 0 ,2 5 6
2l+,001
3 0 ,5 6 5
21,097
7 0 ,6 1 7
172,298
126 ,068
9 1 ,SOU
8,811
1 3 2 ,8 6 3
8 ,oU7
17,323
U ,656
6 ,lUl
19 U, 8U 6
2 ,5 6 9
1 ,2 36 ,0 9 2
2 6 ,2 0 2
6 ,3 3 5
2 0 0 ,3 3 7
6 7 ,6 3 7
2 3,0 8 0
319,753
3 6 ,9 5 2
9 ,1 5 6
6 ,2 7 6
2 3 ,9 6 0
10 8 ,0 9 9
9,991
U,S90
3 6 ,6 5 0
3 6 ,8 3 0
1 6 ,9 9 1
6 9 ,6 1 3
5 ,1 0 5

123
3,319
l,UlU
623
357
252
1 ,8 5 6
U70
28
711
3,772
1 ,66U
1,927
U52
512
839
697
818
1 .3 9 6
1,737
1,699
166
1,305
333
UU8
268
93
2 ,5 3 2
238
1 0 ,9 3 6
UoU
6U 6
1 ,6 1 3
663
1,135
3,287
308
2SU
576
U 13
1 ,5 9 0
550
73
557
2 ,0 7 1
U 11
2 ,1 7 6
135

U,1 8 1 ,0 2 7

59 ,09 6

26
388

|j

Gross income and deductions correspond to total income and total deductions (items lU and 2 6 , respectively, on face of return) plus, in each instance, cost of goods sold and cost of operations (items 2 and 5 on face of return).
Interest received on Liberty Bonds, etc. (item 11 on face of return) has been deducted from gross income so that gross income will include the same items as in prior years.

2/

Excludes dividends received on stock of domestic corporations.

u

Includes excess-profits tax of $37,5^0 on returns with no net income, since credit for interest received on certain obligations of the United States and its instrumentalities is not allowed against net income in the computation of the
excess-profits tax. (See Article 1 ( d) of Treasury Decision UU6 9 , "Regulations reluting to thè txc&ss-profits tax imposed by Section 702 of the Revenue Act of 193^-")

T

Corporation returns for 1934, by major industrial groups and by returns with net income and no net income, showing number of returns, gross income,
deductions, net income or deficit, income tax and excess-profits tax; also number of returns for inactive corporations.
---.
—

-

— '■

Industrial groups

Agriculture and related industries
Mining and quarrying
Manufacturing:
Food and kindred products
Liquors and beverages (alcoholic
and non-alcoholic)
Tobacco products
Textiles and their products
Leather and its manufactures
Rubber products
Forest products
Paper, pulp, and products
Printing, publishing, and allied
industries
Chemicals and allied products
Stone, clay, and glass products
Metal and its products
Manufacturing not elsewhere
classified
Total manufacturing
Construction
Transportation and other public
utilities
Trade
Service-Professional, amusements,
hotels, etc.
Finance-Banking, insurance, real
estate, "holding companies, stock
and bond brokers, etc.
Nature of business not given
Grand total

•—

•~t
i

Total
number of
returns

1

Number

(Money figures in thousands of dollars)
—:—--------•
---- i- --- —--------- t?——
—~
.■
*
“*"
'
‘"n-"—*
• -mf
Returns showing net income
Gross income 1 /
Net income 2/
Deductions 1/
Income tax Exc^ ^ ofi

Number

1 0 ,5 2 b
18 ,6 5 6

1,995
4,460

1 .1 6 1 , 7 7 5

1 ,0 0 5 , 7 1 2

15 6 ,0 6 3

4,198
21,456

80
428

7,331
9,083

13,362

5,374

5 ,9 7 3 , 7 1 6

6 ,6 7 1 ,1+37

3 0 2 ,3 2 s

41,768

642

3,283
U05

1 ,3 6 s

753,868

97,648

13,427
13,241

1 5 ,7 7 5
2 ,1+23
650
6 ,8 5 5
2 ,3 1 8

5,682

402
5

19 ,5 0 5

291
66
20

12 ,6 2 2
8 ,2 2 0

4,490
3,oi+9
997
6,844

3,974
20,353

6 7 2 ,5 6 7
31+7 , 7 3 0

1,812
1,208

“+90,335
9 6 6 ,7 0 3

463,125
885,814

3*
1 ,0 2 3

17,751

3 .3 5 3

6 0 3 ,5 9 2

7,o4o ,3S9

2 7 ,4 4 2 , 9 1 0

57“+,37“+

50,989

11,194

11*7,277
12,453

27,257
188

5,018
2 ,0 9 4

7,150

1 ,3 7 1 , 3 1 0

1,422,440

51,130

S38

i,5 “+o
245
9,7i+i

2 0 7 ,9 0 5

2 2 3 ,6 2 7
3 3 ,1+69

375

,33“+,5 S5
341,6 6 2
4o4,0 6 4

15,723
2,086
124,91.4
1 7 >5^5
io<.566

6 8 1,7 7 6
3 7 6 .17 0

28,418

117,465
824,081

l6,l4s

201

7 ,6 1 8

4 4 ,6 2 7

535.i“+7

8,491
73,627

543
59
788

7 0 ,19 2

9 ,6 5 3

262,466

51+3 , 1 3 0

3 1 ,691+

^,358

2

3 9 3 ,4 9 8
6 0 5 ,0 6 s
31+
7 ,7 5 2

571,460

7 6 ,7 0 3

29
352

79
^3
31s

78

3 ,866,466

64,153
1 7 3 ,5 %
36.527
278,421

51U
6 12
230
1,0 7 2

^33,320

*+7“+.776

41,456

3l6

13,650,040

11+.576.229

635,613

“+.559
2.7“+7
12,1+37

3 .3 2 5 ,5 7 “
+

3 ,5 0 “
+,1 1 7

235,957
3.583,01+5

184

3,767

3.“+77

i 57.269

272,484

9 2 6 ,18 9

5 .3 5 6

190

!

12 ,5 8 8

681,905

7“+S,3S7

66,482

1,810

!
j

1 5 ,5 7 1
8 8 ,0 5 3

¡5*215,038
10,061,452

5.357,93“+
10,410,613

642,896
3 4 9 ,1 6 2

3,158
5,180

2 8 3 ,4 0 6

5 ,0 7 7

1 ,6 5 7 , 1 9 0

21,131

5 ,3 9 5 , 1 9 2
2 2 ,9 4 9 ,5 0 8

“+,9 7 5 ,391+
2 2 ,2 7 9 , 1 7 2

9 1 9 ,2 9 s
6 7 0 ,3 3 6

1 2 6 ,6 0 0
9 2 ,2 0 0

329
2,077

1 ,5 6 1 ,31+5

l,“+5“+.038

107,807

14,863

348

3 4 ,7 18

1 ,3 1 2 ,1+31

2 ,0 9 5 , 3 3 3

3 .0 3 6 , 2 6 7
2 ,0 7 1

2 ,5 3 3 , 3 5 2 y

452,414
90S

6 2 ,1 0 s
125

742

9 3 ,3 3 9
1.2 5 1

4,868,813
3 .51+6

6 ,5 2 6 ,0 0 2

2

3 2 4 ,7 0 3

37,910,299

1+2 ,0 9 1 , 3 2 6

;

5 2 8 ,8 9 8

145,101

1 .16 3

62,920,954

53,61+5,757

1!

1i

1
1

1

“+.275.197

5 3 3 ,3 7 5

;

7,673

!
i
l
1

i . - . *____

Gross income and deductions correspond to total income and total deductions (itéils l4 and 2 6 , respectively, on face of return) plus, in each instance,
cost of goods sold and cost of operations (items 2 and 5 on face of return). Interest received on Liberty Bonds, etc,
(item 11 on face of
return) has been deducted from gross income so that gross income includes the same items as in prior years.

2/

Excludes dividends received on stock of domestic corporation.

2/

Includes excess-profits tax of $37,5*+0 on returns with no net income.
tax imposed by section 702 of the Revenue Act of 1934»)

4/

Includes special non-expense deductions of life insurance companies.

(See article 1 (d>, TreasuryDecision 4469, »Regulationsrelating

8,6o4

t
\

M-

l/

36,383
2,209,681
’ 1 32“+,1 1 7

340
“+ .725
1,0 3 2

1,906,104

Cjiirx

1,200
5,113

211

2 5 ,5 3 6 ,3 0 6

Deficit 2/

1,375,939

1,3 6 8

63

l/

Numl:>er of returns
C •„ring no income
da1ai -Inactive

85,272
165,373

1 1 ,1 2 3

3,7^3

21+1 , 1 3 5

T

3 2 6 ,1+07
1 ,5 “
+i, 3 1 2

2 7 ,2 10
80,889

6 1 ,7 5 1

7 0 2 ,3 8 1

772,573

9,808

36,468
i “+,976

1,167,892
2,998,955
541,842
6,505,242

1.285,357

3 . 3 2 2 .9 1 6

5 2 ,8 2 3

9 6 ,2 9 6
1 4 1,7 0 2

2,898,906

3,o4o,6o8
7 0 9 ,0 3 5
3 6 2 ,7 5 6

96,643

30,572

9 2 6 ,9 4 6

976
267

1 ,8 2 5

23,537

8 5 1 ,5 1 6

1 , 0 2 3 , 21*3

131

6,4os

14 6 ,0 5 6

265,041

296,513

Returns showing no net income
Deductions
Gross income 1/

to excess-profits

!

__

4/

5,058

1 1,0 19

4,181,027

59,09^

TUàSOST DlBàRTKfflJT
ihshingtem
fot m m i §

m«

»

ì i

«

i

,

m*«« s e m e *

3 » to fty . m i 8». t«87.______

“ V uo t o - S * !

5/28/37

1

Seeretary of thè Treasury Morgentfcau aanouneed last eveniag th&t thè tenderà
for tuo serie« of Treasury b ill« , to be dated Jbne fi, 1937. whieh were offered e»
Hey 86. «ere epened et thè Federai Reserve banks on S&y 80«
Tendere «ere Ixrrited for thè tee serie« to thè aggregete «usount of #100.000.00(1
or thereabouts, end #019.880.000 «as applica for. of whieh #100.148,000 ma e««
eepted,

The dotali« of thè tee serie« ere as followst
ioe-Mr fm & tm u n i , m rm jm swmssm 18 . 1987

far thls serie«, whieh me for #80,000,000. or thereabouts, thè total aaount
applisd for «as #140,170,000, of «hleh #90,118,000 «as aeeepted.

The aeeepted bids

ranged in priee fra» 99*099, etulvalent to a rate of 0*890 pereent per «nana, te
99*889, equivalent to a fate ef about 0*888 pereent per anno», on a bank discount
basi»*

Only part of thè amount bld for at thè la tter prie# «a» aeeepted* The

avarage priee ef Treasury bill« of thls «erte» to be issued is 99*888 and thè
avarag* rate 1» about 0*878 pereent per annua on a bank discount beai«*
273-day mumm

Bina* mmwm mmn 8. iggg

Tdr thl« ter le», whieh «a» for #90,000,000, or thereabout», thè total aoouat
applled for «a» #179,085,000, ef whieh #90,089,000 «a» aeeepted. The aeeepted
bidè rangsd in priee froa 99.888, equivulent to a rate ef abont 0*174 pereast per
anmsa, to 99*981, e^uiralent to a rate e f about 0*879 pereent per annua, on a task
discount basi«*

Oalp pari of thè aaount bld for at thè latter priee was

aeeepted.

The averag» priee of Treasury b ilie of thls serie« to be iesued is 99*974 and
average rete is about 0*968 pereent per annua on a bank discount basi«*

thè

TREASURY DEPARTMENT
W ashington
FOR RELEASE, MORNING NEWSPAPERS,
Saturday , May 29 , 1 9 5 7 . ________
5728/57

P ress S e r v ic e
No. 10-39

S e c r e t a iy o f th e Treasury Morgenthau announced l a s t evening th a t the ten d ers
for two s e r ie s o f Treasury b i l l s , to be dated June 2 , 1937, which were o ffe r e d on
May 26, were opened a t th e F e d e ra l R eserve banks on May 28.
Tenders were in v it e d f o r the two s e r ie s to the a g g re g a te amount o f
$100,000,000, or th e re a b o u ts, and $319,255,000 was a p p lie d f o r , o f which
$100,142,000 was a c c e p te d .

The d e t a i l s o f the two s e r ie s are as fo llo w s :

108-DAY TREASURY B IL L S , MATURING SEPTEMBER 18, 1957
For t h i s s e r i e s , which was fo r $5 0 ,0 0 0 ,0 0 0 , or th e re a b o u ts, th e t o t a l amount
applied f o r was $1 4 0 ,1 7 0 ,0 0 0 , o f which $50,112,000 was a c c e p te d .

The a ccep ted b id s

ranged in p r ic e from 9 9 .8 9 5 , e q u iv a le n t to a r a t e o f 0.350 p e rce n t p er annum, to
93,885, e q u iv a le n t to a ra te o f about 0*383 p ercen t p er annum, on a bank d isco u n t
basis.

Only p a rt o f the amount b id f o r a t the l a t t e r p r ic e was a c c e p te d .

The

average p r ic e o f Treasury b i l l s o f t h is s e r ie s to be is su e d is 99.888 and f ile
average r a t e i s about 0.375 p e rce n t p er annum on a bank d isc o u n t b a s i s .
275-DAY TREASURY B IL L S , MATURING MARCH 2 , 1958
For t h is s e r i e s , which was fo r $ 5 0 ,0 0 0 ,0 0 0 , or th e re a b o u ts, the t o t a l amount
applied fo r was $1 7 9 ,0 8 5 ,0 0 0 , o f which $50,030,000 was a c c e p te d .

The a ccep ted

bids ranged in. p r ic e from 9 9 .8 6 8 , e q u iv a le n t to a ra te o f about 0.174 p e rce n t per
annum, to 99 .5 6 1 , e q u iv a le n t to a r a te o f about 0,579 p ercen t p er annum, on a
bank d isco u n t b a s i s .
accepted.

O nly p a r t o f th e amount bid fo r a t th e l a t t e r p r ic e was

The average p r ic e o f Treasury b i l l s o f t h is s e r ie s to be issu e d is

99,574 and the average ra te is about 0,562 p ercen t p er annum on a bank d isc o u n t
b asis,

The Commandant ordered th a t lookout towers
o f in a c tiv e sta tio n s be manned e t the JdlHiik d is c r e tio n of
the d iv is io n and d i s t r i c t commanders, the lookouts being tra n sported by motor tru ck from and to th e ir permanent sta tio n s*
Vihere deemed n ecessary, he a ls o ordered that b o a ts, boathouses
and breeches buoy apparatus be maintained a t in a c tiv e sta tio n s*

L ife -s a v in g reo rga n iza tio n s alread y have been
undertaken in the Coast

Guard* s New York and N orfolk d iv isio n s

w ith improved s e r v ic e to the p ublic apparent w ith in the f i r s t
few months of operation o f t$© modernized setup*

000O000

F

\

For Thursday pmf s

/ Ô - *

R eorganization o f li f e - s a v in g work in the
Boston d iv is io n o f the United S ta te s Coast Guard was ordered today
by the Commadant, Rear Admiral R. R. Waesehe«

Commanders of

the ^ fir s t and th ird d i s t r i c t s in that d iv is io n were asked by

If

headquarters to have the m odernization program, which is proving
su c c e s s fu l elsewhere along the c o a s t, completed by September 1*
Seven s ta tio n s w i l l be placed in an in a c tiv e
s ta tu s as a r e s u lt o f the orders, r e lie v in g men and equipment
fo r assignment to s ta tio n s at more s tr a te g ic lo c a tio n s and
improving the li v in g conditions f o r the men tra n sferred *
"The marked in crease in the use of motor
boats and r a d io ," Admiral Waesehe adviedd the Boston d iv is io n ,
’•has g r e a tly f a c i l i t a t e d li f e - s a v in g work and, w hild i t has
added to the co st of e f f i c i e n t operation fo r our s ta tio n s , i t
has also tended to reduce the need fo r sta tio n s being so close
togeth er along c e r ta in s e c tio n s of our c o a stlin e « "
In the F ir s t d i s t r i c t , W a llis Sands and
S a lis b u ry Beach s t a tio n s w i l l be decommissioned, w h ile twentyf iv e lif e - s a v in g s ta tio n s from Quoddy Head to Cape Cod Canal
w i l l remain a ctiv e «
S ta tio n s at Peaked H ill B a rs, Pamet R iver,
H arragan sett, Quonochontaug and Hew Shoreham in the Third d is t r ic t
w i l l go on the in a c tiv e l i s t , according to the orders issued today,
and seventeen sta tio n s from Wood End to Block Island w i l l remain in

L

ccmmission«

m

o

TREASURY DEPARTMENT
Washington
K)R RELEASE, AFTERNOON NEWSPAPERS,
Thursday. June 3. 1937.___________

press Service
Ho. 10-41

6-2-37.

Reorganization of life-saving work in the Boston division of the United
States Coast Guard was ordered today hy the Commandant, Rear Admiral R.R. Waesche.
Commanders of the First and Third districts in that division were asked hy head
quarters to have the modernization program, which is proving successful elsewhere
along the coast, completed hy September 1*
Seven stations will he placed in an inactive status as a result of the orders,
relieving men and equipment for assignment to stations at more strategic locations
and improving the living conditions for the men transferred.
!,The marked increase in the use of motor boats and radio11, Admiral! Waesche
advised the Boston division, ’’has greatly facilitated life-saving work and, while
it has added to the cost of efficiont operation for our stations, it has also tended
to reduce the,need for stations being so close together along certain sections of
our coastline.”
In the First district, Wallis Sands and Salisbury Beach stations will be
decommissioned, while twenty-five life-saving stations from Quoddy Head to Cape Cod
Canal will remain active.
Stations at Peaked Hill Bars, Pamet River, Narragansett, Quoncchontaug and New
Shoreham in the Third district will go on the inactive list, according to the
orders issued, today, and seventeen stations from Wood End to Block Island will remain
in commission.
The Commandant ordered that lockout towers of inactive stations be manned at the
discretion of the division and district commanders, the lookouts being transported
ty mctor truck from and to their permanent stations.

Where deemed necessary, he

also ordered that,boats, boathouses and breeches buoy apparatus be maintained at
inactive stations.

- 7

-

2-

Life-saving reorganizations already have been undertaken in the Coast Guard1s
New York and Norfolk divisions, ?/ith improved service to the public apparent
within the first few months of operation of the modernized setup.

ooOoc

L

Corporation returns for I 93U 'by major industrial groups, showing number of returns, compiled receipts and compiled deductions, compiled net profit or loss, net incoae or
c , incone tax, excess-profits tax, total tax, conpiled net profit after deducting total tax, and dividends paid

2.

(Continued)

-t- -

-—____ _

____._____________

(Money figures in thousands of dollars)

INDUSTRIAL

Transportation
and other
*
Hunter o f r e tu rn s

R e ce ip ts,

Dross

i

In te re st

Dross

Bents

let

Trade

Prof.Mlonal,

■ amoiBBent»,
—--------- hnt«ia|0te.

utilities
JS Z 7 9

taxable income:
sales1/
receipts from other operations^

>
||

publie

gain
I Other receipts
V R eceipts, tax-exempt income:
Dividends from domsstic corporations
In te re s t on tax-exempt obligations^/
c a p ita l

1077527?
131 027
97332
7/ 660
70776

796 676

3/ 703300.
7 /6 / 3 7
3 S/0 3
64664
/4496 ,
3 9 0 /9 8\

329/5/ :

S9 S/7.
76 9fJ\

2 06 6 9 .

Total compiled receipts!!/

C R 0 U|P S (Continued)
Finance—Sankt
Service—
ing,insurance,
Mature

///3679 3 3 0279S3

I., w, .

‘ «ties and *ónd°f tuaiM6>
brokers.etc, not ¿riven

o r 990

900076

/ 93? 1

2

3 /033OO ^ A
7A6
/A 6/3 <0087600
724 / JO S'076
6 8S~6
973987
94/44
07803 /1

1 337 k
I f 207 5
H 930 6
/196 7

/A 4 76 7 3 4 s 67/ i
¿
S4 6 9 /9 ,

hex 8
87 9

3 001

337Q S3À . 1450994

S ' 089

3

10

Deductions:

goods sold5 /
Cost o f o th e r operations
[„ Compensation of offleers
__
Bent paid on business property
In te re s t paid
Taxes p a id other than incoae tax£/
Cost o f

O S 300OÔS

J ~ 666297,

Bad debts
I__ Deprec i a t io n

Other d edu ction s

m ?

or, ¿«xicii

Ql

¿09 O/A

/3666s/

9 8 0037

V$ôoA

000303,

L 007S3û\
3 ÛSÀ

OQS9VÀ
/ vm
93 s o i

99f73?&

4Z3363Ÿ:

0 00839

388398

907 VJ à
7077934
90 9/8 7

879797,

4 7 Ocr

30/977

873]

O 307!
¿¿V
/9707À
97 ¿7 4
VI
9 3001937
3 777794
9-OOO 22

\L$
764,624
\S.
/7SS4Ÿ: 't*/2û977Jl
30/ 9 7 9 Ì
397037,

M£>

MO 9/.

mro

m I

----------------------------

26alxce,«-profits to

xZ

Total tax

30

is s w i

/¿3 o m
<0/8074
/ 7 V /¿ À
/J?3 797

00 J 997%
070 9oÀ

25 Incoa, taJ

29

6>390On

profit or net loss (10 less

22)

Het Incoae

___ 6796 ft

ML
s3 0 0 m
Mi

fô 8 0 9 0 7 % 3 0 ¿30 OOV . 3 83790$** 7 7 ¿ 7 93n

Tolal coaplled deductions 8/

[Compiled n et

9073O9>À

/0 7 7 À

Depletion
Bet c a p it a l l o s s "

L— —

a

30980

Coaplled net profit lees total tax (23
lese 27)
Cash dividends paid
Stock dividends paid

/A6 <iôô\
32?j

9AA0Ó
2 077

74 663
346

62/66 j
742

7 2 6 9Af\

M

/SA//

628SÛ «

4 9 4 /S8\
/ A A / 47A

30340%

A/ 26ft

399 734
33 A m

27
Mi

MB
776030

62396ft

63 ó m

7276884,

4 /7 û

908
O

3 739.
7 67?

4424

-;X.
L V Gross sales where inventories are an ¡iincome-det ermiaing facto r. For "Cost of goods sold", see "deductions!•

,2/ Gross receipts from operations where -¡inventories aijie not an income-determininglfactor. For fCost of othertaperations", see "deduction^".

Is/

Includes obligations o f States and T erritories or minor p o lit ic a l subdivisions* securities issued under the Federal Farm I/>an Act, and lobligations
of the United States or i t s possessions*
w Excludes gross receipts from sale o f ca p ita l assets. Excludes nc|ntaxable incarle other than Interest on ta|-exempt obligations and dividends on
on ofrook--of-■
--domeat 1c c or porations-«^ roporte4-4^-Sehodule ■
L-e-f -frhe3 J Includes taxes which are reported in |!"Cost o f gooddl sold'
£ j Excludes taxes tabulated under "Cost p f goods sold".
¡7/ For lim itation on amount of net cap ital loss that Jay be reported see Section 117(d) o f Revenue Act o f 1934.
\§J Excludes dividends received on stock of domestic corporations. 1
I
1
I
I
I
3 J Excess-prof its tax o f $37,540 appears on returns with no net ineqm© since credit for interes| received on feertain obligations of the United States
and its instrum entalities is not allowed against net income in bjhe computation o f the excesl-p rofits tax (see A rticle 1(d) of Treasure decision 446»,
"Regulations relating to the excessjprofits t ax iMposed by Section 702 o f the |Revenue Act of 1934"),
|i___________ I
I___________ _ ! L
TW

D e fic it;

r

“l

'

'

T~

~~

11/ Includes tor a limited number of retijrns the cost qf securities purchased for <j|ustomers.
' 12/ Excludes compensation o f o ffic e r s of ¡life insurancocompaniee wh|jch f ile retunj Fonn 1120L.
j 13/ Includes sp ecia l nonexpense deductions o f l i f e insurance companies.

it

1.

Corporation returns fo r 193U by «ajor industrial groups, showing number of returns, compiled receipts and compiled deductions, compiled net p r o fit or lo s s , net income or
d e f i c i t , income tax, excess-profits tax, to ta l tax, compiled net profit* a fte r deducting to ta l tax, and dividends paid
(Money figures in thousands of dollars)
I N D U S T R I A L
Aggregate

467 fo r i

lumber of returns
Receipts, taxable incomet
Gross sales!/
Oross receipts from other operation*2/
In terest

Rents
Net capital gain
Other receipts__________________________________ jj_

Agriculture
and related
industries

Mining
and
quarrying

/35V3

9356

7 1 3 0 / 3 0 4 ____ 3 7 5 5 4 7
IS S S I 936/.
/ 0! IS ?
a 6 96 ISo\
S 3 S3
/ S 3 S 0/7,
/O 939
545557
5 86/1
/ ¿0.368*1
/4 9ST

Food and
=jh kindred r
manufacturing products

Liquors and
.Dei
Deterages
(alcoholic and
nonalcoholicj

Total

9/ a m

jz & r i

5 1 3 /8 4 5 3 9 5 5 7 7 *5
5 5 / 993
936 53Ü
J9 193
19809?,
53545
/0 9 9 / Á
O I 978
370931
98057
9/3 73A

^

/S' 453

a. 399

4 6 5 5 //4 988
307
70 7S 6
a so?
7 8a A
790\
/ ¿ 'S79
8751
9 393,
3 5 5 11
3 4 5 6¿

/ 0/848$

V7G>

908

5/66007 j ¡039 6 7F
5 3 m/\
S73SÌ
I 90 A
/8 333)
/ana
9/05
3 99 a .
808
S 6 09A
6 068

Textiles
Leather
and th e ir * and i t s
products
manufactures

Tobacco
products

/ 045

GROUPS
Rubber

Forest

, Peper*-pulp^

products

products

and products

6 0 7i:

6 53?

£540\

/ 0 5 00 7 0
6 0/8 1
/6 7S9
9335
S 5 IX
9 59À
S 530[
/ 80S
5 67S
4 5 3 ?\
75/54'

/ ¿8 0 / 4 f l

7/5 OS à

9 599[
JO 60$\
9 5 5 /I
/ /39\
8 789"

Receipts, tax-exempt income:
Dividends from domestic corporations
Interest on tax-exempt ob ligatio n s!/
Tota l compiled re ceip t i&J

a a/7 9 9 â
6 6360!I

5 5 3Â
t sM

10! 999 854

639 979

7S 797
8386

338637,
63 8SO,

39 850]
5853

J S96 /00\ 9/ /SO SO/Ì

8 350 998.

/ 659
/ 188
’ 060609:

á á fsí
3 7/4i
/

Ó

3|

6

063 340\' S 556355

Printing,

publishing*
and a llie d

Industries

/ ¿/o s

Chemicals
and a llie d
products

Stone, cle y ,
' and glass
products

7 6 0 fi

/ 706 3/o\ 6 58478A
6 / 083
9 7 69 5 j!
S 839\
59603!
/O 7853
/8789\
X55Â
7 S60\
/? 5 0 7 I
S / J56\

7 0501
735.

J8 S 7 6
6 96

5 908;
/am

9 76/1
5/55

7S907\
9/5A

795625
8 73/

/ 033 8851

756 95o\

/ 0966 88'.

/ 3/6 576,

7 800 984\

6 657595

Conitraction

, Metal and
i t s products

3 7991

8/0 40sì / O
9 006 1
3 966Ì
c5 69A
/ 5391
8 053Ì
y

<5 ///

Manufacture
not elsewht
classified

/?58/

/599/\

ssm

/ 6 7 53 6 / 7 63/6 ¿
?7963¡
9 75<M
S ) 983 1
5 5sm
59S5Á
3 </?4
750À
3 5 ?J
/90 399Í
/3 7SÀ

70995/
6 76Ô
8 95 /fc
97/5
79586
5~ /67*
3753

8 ?0 3 á ¡
5 S9 /3 Ì

89/66/1 /O6 5 3 8 9 7

5/3209*

/507673.

7560505

lo

Deductions:
Cost of goods sold!/
Cost of other operations

Compensation of o ffic e r s
Rent paid on business property
Interest paid
Texes paid other than income » » £ /
Bad debts
1

Depletion

Kl

Net capital los»^/

p

Other deductions

S79S890X
8670596a / 73 65A
l 9 8 5 5 7/
3 951 5/9\
a /6 / 8 9 Á
/ / 8 5 Û69.
3// 855
<5?7 397,
/ 7 995558

Total coiqpiled deductions 8/

4 g iv
JO 027
/V7 J

i g s n 037 :

SU70G.

5 9755/ 8 \
?9/70\;

\je
\tC 9759?
„ 1
S969T

p Compiled net p r o fit or net lo e s(io le ss
Net income or d e f i c i t ^ /

¿75 S I 3 : / 939 S36 30 0)7 30/, 6
¿ 9 968
/00 4/6>;
/7S/03\
____
9
/
s
y
d
/6 ?00\
753 80Si _
/7 956,
593 9371
/ S 396
78 859
367506 1
53193
89
85/
56575 / 1
a / 669
/6
5/5
6 876
550 65/
/89 555
/06 875;
36 590
9 888
357 8/7 S 890 4/6 !1
5 97/576 !i 39 759397]

w
^

.

9311

/

569565
/7 964
86 />9\
37 9?/\
S5/00\
69 599
5655 7
¡70 j
d 9/5,
099990:

8 059 077i

H

/ 935 904\
977 9/5:

t

569/98.

/M 883\

859 970 4 550 504
68\
46 7891
6 767
/39 7771
4/ 660
/ 358
3303X
3 455
8 /83
S605T
/ 95 6
/8 979
/53 033
// 074"
74SIS
965
95
' 8 033 5 3 9 /6 9
9S397

975 866.

958 750.1 S 557308 '

676/4/\
/ 756;
5 0 859
9394
7 778
9/ 78/
9 7S9 !
5 5 968
69

89 7931
8/ 755

/09 650\

99 27/1

5?09 9
/S7 8 7

897 998)
/ 586 1|
¿ 4 3)8'
8 7 3 9 1;
9668;
6555
9 908
7/ 86/!
93

S5450/Ì
/55
7603j
/O 7041
// 775
/5 8 6 4
3 503;
5 8 953
5579
/3/ 159

8/3 939
9 557
36 87/
7578)
5 5 4/7
5/675
/3Z9?
4/ 54?
18 6 Opj
3 555,
/S3 987

4/7500[
777
3/ 36/
// 575
<55545
78935
7 9 4 /,
á/ 2. ùj\
7 557
/ 508
77 99 0 5

733 569/

/ 195 9 fs]

/ 557 053\

5 0 706 1
/8 959\

5 3 6>85\
9 9 /0 Ì

"95808\
^97998 !

Sû/S\
64

5.079\
5 oí

539

/03596

8\

/ / ¿ / 3/61 4 3 8 5 / V A
S77& Á
73 3871
S S S tfi
6 6596/
S7229
3 7 SOS,
5 0 5 5 à.
S 7 8 3 S\
77477'
JSÛ9/A
3 7 3SÛ I
59/ /S/ «
ss ssà
681
788051
3 8331
7 900
377 998
77055531

540 355\ 7 757786 j
3 30s\
55063Ì
53558^
779 9881
6 / 790\
<436 A
/ X 965
/07308j
73 S 9 5
735 0/5
85565
6/^
/75V
9S9T
7/90'
/ /3 3
790 093Ì 7 9 9 5 5 5 7

/ 788 098.

80958Ä /O585.078}

6 30799A

59559
5597/

75884
S 3 3//Ì

// /53\
c5/1

/6/98\
50/

99/p¿7\
993

3

/03SÛ[

4S/70.

8 S S 0\

98 X50\

5 6 S 3 61
8/ 969]

309674]
363 953Ì
3ZÙ 61Ì

5 3 55Â
4 4 866 j
5 369Ì

39989A
7 9 5 98Á

3 5 075].
5S554

8/3 877j||

9/7 8 9 7 LI
&330m S57 /9 7 *
9/ 584
0 9735 13
/5330Ì ¡i
70S78 A
788\ Î
73 773 15
70937 ,6
/O 68 A
7 3 6 9 7 ,7
9 3 078
63957/1
776\
3 V / l9
< 5 5 7 7 X)
/ 994
55S638Ì
789797 a
7 769 3 5 9 W 586900 >2

37/7691
5 S6 75À

3 8 0/8]
73a

73 657\
788

9653
/89¡

55898 9
Sa3 Ÿ 7 f 7 !>»

m
Income tax

26 îxcese-profits tax*9/
Total tax

27

28 Conplled net p r o fit lose to ta l tax
less

27)

29

Cash dividends paid

30

Stock dividends paid

¡r?g37S\
7 ¿73’

y

S 96 OYS1

5 3 7 9 /69\
9 389 37 n
5/9 763\

(23

m ;

¡3 ^ 7
vM

/3S3//1
vi.“ !

/ ffà S Ì
¿9/1

w //.

13 830.

J3 £ 7 6 .

19795,

so m

a //sì

59?960\
5586931
9037Í

70 973:
55508
/ 957

9/3731
96958),
958 1

9499
990/9",
9357

75'654
55577.
73 M

5/564
79997Ì
781

'W ¿ ¿ \

¿u q sè .
/

3777,

'M Â

9X781

X/S89;

X6S993

\£0
S / 570,
56974
06Û

55939,
5 6 6/3 3
998À

/ 76496/Ì
/ 609 659
7ô9ù>m

M

3

807%

996/SÌ
339/Of

/;

99588!
S785

9 7 5 X ;,

7SV/S\

596754]
977// 8 \
59/961

9358 3

790 *

A Í: ¿/3~7S >7
1
58/8 A
9X3331
5 333

\tù
3 0 9 9 ft*
1 5 3 398k$

U Ë 'Z O S O 0
El 9

For footnotes,••• page

2

. j. | | ,

MMoml
■

B

!1

KT

/ à

Corporation returns for 1932, 1933 and 1934 showing number of returns, compiled receipts and compiled
deductions, compiled net profit or net loss, mmi net income or deficit, income and excess-profits tax, and diridends pal
(Money figures in millions of dollars)

193?

1934

1933

Number of returns.... .
Receipts, taxable income:
Gross sales -5/.......

is /

r ts m

Gross receipts from other operation y

....................................... . .......... . • J

sïm\
irftM

S3Af¥\

__ 3 4y / |

'¡‘/■son
/ft s s d

AjftO

/ sts\

|

Rents*.........

Net c a p it a l g a in ........... ............................ . . . J

A éà

¿ ¥ 3

Other receipts.................. «4

/ A ¿4,

Receipts, tax-exempt income:
Diridends from domestic corporations

/ A Co\

Interest on tax-exenrpt obligations^

SS>A

10 1

Total compiled receipts

•

L

qaA

¿7 ¿ 3 8 ]

4
JOi+9ST

Deductions :
J°f

11

Cost of goods so!

12

Cost of other operations.

13

Compensation of officers!/ •••••••••a

14

Rent paid on business property.....

P

____ Interest paid*.... ...............J

A/33\
on
I
¥0f3\

'7/
/ faA
— &£lAj
a

/ j/6

/ A fft

Depreciation.

/a m

3 tf3\

3 ¥<?(,.

Depletion.... ......... .......... .

A f\

A fà

Net capital loss.... ........ .....«,

l± o \

Total compiled

3 7 >fSIf
ftifo\

A OS’'A

22

\

fSCâù

f30\

Taxes paid other than income tax t . j
Bad debts........... ...... ...... |

Other deductions.

a

¥/
O O

/7 A

/ ¥fà
A vaà
A U Â

/ /ftA
3

ß (> Z <3/4

¿ft

/

Aft ft/Qi

a

/(,

3 fd

1/

Com p iled net profit or net loss(10 less

2 2 )..... i........ ......... ...... I
qj
1
Net income or deficit......•••••••••• |
Income and excess-profits tax........J
Cash diridends paid...... ...... ......||
Stock diridends paid....••••••••......J

J3'
a 3p
- v k/\

~W

J2 / J T £ if y|

/3/ £ < $ ^ 1
3

8 ?C >

/¥3 I

/

/ y\

& M 'A

jiiäf

A ?7s r

II

m

syL

K

3 / A7I
/ 0 \

i/ See prorisions of the Reranue Acts of jj1932 and 1934jaffecting thejj conroarabilityf of statistic^- data from irtcome tax

\St Gross

sales where inrentories are an income-determiAing factor,

of corporatL o»s

for "cost of goods sold" seef' "deductions”.!

j3/ Gross receipts from operations where inrentories arj^ not an income-determining factor.

Fof p o s t of other ¡operations” see "deductions"!.

j

Includes obligations of States and Territories or minor political! subdiri sions jI securities issued under thi Federal Farm ¡¡Loan Act. and
obligations of the United States 4nd its possessions.
i
f
I
1
I
I
Lj,--------------------- ------- ------- I
r
I
I
| i
.
I
________ |_____________I
|-/ Exclud^ gross receipts from sale of Capital assets! Excludes nohtaxable income other than interest on tax-exempt obligations and
diridends on stock of domestic corporations as reported in Schedule L.
T
TT
J
|
!6/
p
Includes taxes which are reported in 4cost of goods!sold".
—

Secludes compensation of officers of life insurance! companies whi|h file form ljuiO-L.

0/ Excludes taxes tabulated in "cost of goods sold".

j 1/

§

f

jj

I

Excludes dividends received on stock?! of domestic Corporations.

!10/ Revised.
111/

Included in "other deductions",

j12/

Deficit.

13/

Income tax only.

14/

For limitation on amount of net capital loss that |nay be reported, see SectioA 117(d) of Revenue -**ct of 1934.

Fourth release

TREASURY DEPARTMENT
Washington

JFOR RELE/S, MORNING NEWSPAPERS
1937

Press Service
No.

Secretary of the Treasury Morgenthau today made public
the third in the series of tabulations from the "Statistics of
Income for 1934, Part 2", compiled from corporation income and
excess-profits tax returns for 1934, prepared under the di
rection of Commissioner of Internal Revenue Guy T. Helvering.
The following two tables present the data reported on the
returns distributed by receipts and deductions.

The first

table is from the corporation returns for 1934 and shows by
major industrial groups the number of returns, compiled re
ceipts and compiled deductions, compiled net profit or net
loss, net income or deficit, income tax, excess-profits tax,
total tax, compiled net profit after deducting total tax and
dividends paid.

The second table is a

historical present

ation of these data from the returns for 1932, 1933 and 1934.

TREASURY DEPARTMENT
Washington

EOR RELEASE, MORNING NEWSPAPERS
Monday, June 7, 1937.

Press Service
10“42

Secretary of the Treasury Morgenthau today made public
the third in the series of tabulations from the ’’Statistics of
Income for 1934, Part 2," compiled from corporation income and
excess-profits tax returns for 1934, prepared under the direction
of Commissioner of Internal Revenue Guy T. Helvering.
The following two tables present the data reported on the
returns distributed by receipts and deductions.

The first table

is from the corporation returns for 1934 and shows by major
industrial groups the number of returns, compiled receipts and
compiled deductions, compiled net profit or net loss, net income
or deficit, income tax, excess-profits tax, total tax, compiled
net profit after deducting total tax and dividends paid.

The

second table is a historical presentation of these data from
the returns for 1932, 1933 and 1934.
The data for the 1934 returns are not strictly comparable
with those for prior years, for the following reasons:
1.

The consolidated returns, which were necessarily classified

according to the predominant industrial activity of the consolidated
group, embraced subsidiary concerns which frequently were engaged in

1

industrial activities entirely different from the predominant
business of the consolidated group.

Under the Revenue Act of

1934, a separate return is filed by each of the affiliated
corporations (excepting railroads which may file consolidated returns)
and each of these separate returns is classified on its predominant
business, with the result that many 1934 returns fall in industrial
divisions other than the ones in which they were included in prior
years.
2.

In the consolidated returns there frequently are offset

items commonly referred to as ”intercompany eliminations” which,
however, do not occur when each company files separate income tax
returns.

Consequently, items of assets, liabilities, receipts

and deductions, as well as dividend payments, gross income, net
income, and tax are materially affected by the absence of intercompany
eliminations in the tabulations of the 1934 returns, due to the
removal of the privilege of filing consolidated returns (except by
steam and electric railroads).
3.

The classification of consolidated returns by returns

showing net income or no net income and by net income or deficit
classes is determined by the composite net amount for the group
included in the consolidated return, whereas, for the separate
'returns filed for 1934 the classification is based on the net
amount on each return.

The same basic distinction obtains in the

classification of the consolidated returns and the separate returns
by size of total assets.

2

4.

Consolidated returns were frequently filed in States other

tiiah those in which the principal places of "business or principal
offices or agencies of the subsidiaries are located.

Consequently,

in 1934, with the break-up of the consolidated returns and the filing
of separate returns for each subsidiary, the geographic distribution
of the subsidiary companies differs in many instances from that of
the consolidated returns.

U.

Corporation returns fo r 1932» 1933 an<3- 193^ showing number of returns, oomoiled re c e ip ts and compiled deductions,
compiled net p r o f it or net lo s s , net income or d e f i c i t , income and e x c e s s -p ro fits ta x , and dividends paid 1J
<

t t

(Money figures ifc, millions of dollars)

1933

193 U

H^i.ggH
Number of returns................ .
%.....
Receipts, taxable income:
Gross sales 2/......... .................. 10 / 5 3 .2 9 *+
Gross receipts from other operations 3./*»« 10 / i9 .5 ek
Interest........... ..................... .
3r%'l
1 ,9 2 6
Rents................ ...... ...........
lU2
Net capital gain...... .......... .
Other receipts..................... .
1,387
Receipts, tax-exempt income:
1 ,2 6 0
Dividends from domestic corporations......
55 U
Interest on tax-exempt obligations kj ....

HH6.8H 2

H 6 9 ,80 H

57,777

18 ,9 8 2
2 ,7 8 6
1 ,6 5 0
262
1 ,1 5 9

7 ^ ,3 0 9
18 .5 5 2
2 ,6 9 6
1.585
2 H3
1,2 2 9

1 ,0 2 6
592

2 ,2 1 7
66 H

8 1 ,6 3 g

8 H,2 3 H

1 0 1 ,U95

Hi, 1+30
d p

H 3 ,6 2 6
9 ,H20
1,995
1 ,H22

3 ,5 1 1
2 ,12 H
1.2^9
3 ,^ 9 6
2H 6
1 ,6 3 6
16 ,39 0

5 7 .^ 5 8
8 ,6 70
2,173
l,Hs6
3 .U22
2 ,1 6 2
1,182
3 ,3 6 2
312
Ik/
297
17,996

85,lbU

98,520

930
2.5 >*7
H23
3,127
102

2,975
9H

1932

1
2
3
l
5
6
7
g
9

10
11
12
13
lH
15
16
17
18
19
20
21

Total compiled receipts 5./*........
Deductions:
Cost of goods sold 6 /........... .
10 /
Cost of other operations...... ..........
Compensation of officers jJ ..... ......
Rent paid on business property............
Interest paid.... .................. ......
Taxes paid other than income tax 8 / ..... 1
Bad debts..............................
Depreciation..
......... ..
••
Depletion. ................ .............
Net capital loss....«....... ...........
Other deductions.... ..................... 10/
Total compiled deductions

23

2b
25
26
27

97

Compiled net profit or net loss (10 less 22) 12J
Net jjpome or deficit 9./**........ .......... 12/
IncoJrand excess-profits tax .............. 13/
Cash dividends paid
...... .
Stock dividends paid .......................

2 .1 3 3
d p
U,oU3
2,087
1,313
3 .6 9 3
2H7
1,705
28,816
S5 .U67
3,829
5.6HH
286
3,886
1H3

12/
li/

«

*

596
215

See provisions of the Revenue Acts of 1932 and I93 H affecting the comparability of statistical data from income tax returns of corporations.
Gross sales where inventories are an income-dete\mining factor, ^or ’’cost of good? sold” see ’’deductions.”
Gross receipts from operations where inventories are not an income-determining factor. For ’’cost of other operations” see ’’deductions.”
bj Includes obligations of States and Territories or minor political subdivisions, securities issued under the Federal Farm Loan Act, and
obligations of the United States and its possessions.
3 / Excludes gross receipts from sale of capital -asset
non taxable income other than interest on tax-exempt obligations and
dividends on stock of domestic corporations as reported in .Schedule L.
6/ Includes taxes which are reported in ’’cost of goods sold.”
JJ Excludes comp:ns tion of officers of life insurance companies which file form 1120-L.
8/ Excludes taxes tabulated in ’’cost of goods sold.”
3 / Excludes dividends received on stock of domestic corporations.
10/ Revised.
11/ Included in ’’other deductions.”
12/ Deficit.
13/ Income tax only.
lb/ For limitation on amount of net capital loss that may be reported, see Section 117(d) of Revenue Act of 193^»
1/
2/
3/

7
Corporation returns for 1934 by major industrial groups, showing number of returns, compiled receipts c?.nd compiled deductions, compiled net profit or loss, net income or
deficit, income tax, excess-profits tax, compiled net profit after deducting total tax, and dividends paid
(Continued)
(Money figures in thousands of dollars)

INDUSTRIAL GROUPS (Continued)

1

2
3

Receipts, taxable income:
Gross sales 1/
Gross receipts from other
operations 2 /
Interest
Rents
Net capital gain
Other receipts
Receipts, tax-exempt income:
Dividends from domestic
corporations
Interest on tax-exempt
obligations 3/

Nature of
business
not given

1 ,4 3 9

126,096

45,912

140,876

.25,379

Number of returns

Fi nan co —Banki ng,
insurance, real
estate, stock and
bond brokers, etc.

Service—
Professional,
amus emept s,
hotels, etc.

Trade

Transportation
and other
public
utilities

1

2

31,708,822
2,728,223
2,287,622
1,125,076
143,457
275,031

3 ,2 2 1
351
207
136
1,196

3
4
5
6
7

12,470

1,345,671

505

8

16,993

2,305

545,919

34

9

33,027,953

3,376,582

8,450,999

5,651

10

5 ,666,297
87,565
158,767
1,366,655

25,322,205
309,500
684,027
609,219
150,284

1,273,262
163,074
215,670
174,108

586,850
355,845
164,435
1,247,534

2,154
534
192
572

11
12
13
14
15

706,340
43,024
1 ,004,830
10,746
8,056
1,457,396

214,646
226,328
265,142
1,419
13,862
4,833,637

123,794
43,562
202,589
264
18,646
1,322,437

13/

429,154
579,749
321,977
2,829
197,072
3,878,740

280
1,708
578
12
430
2, 802

16
1?
18
19
20
21

10,509,677

32,630,269

3,537,406

13/

7,764,184

9,2q 2

op

24

Compiled net profit.,or net loss
(10 less 22)
Net income or deficit 8/

621,117
276,402

397,684
321,174

160,824
175,599

12/

686,814
1,204,775

3,611
±,150

23
24

25
Or*

Income tax
Excess-profits tax 9/

126,600
329

92,200
2,077

14,863
348

62,108
742

175
O

25
26

126,929

94,278

15,211

62,850

127

27

494,188
1,221,443
21,266

303,406
398,734
33,29 4

10/176,035
63,037
4,170

3,738
1,629

28
29
30

4
5
6
7
8
9

Total compiled receipts 4/

10

ii
12
13
14
15
15
17
13
19
20
21

Total compiled
deductions 8/

Total tax

27

29
30

718,137
85,123
84,S64
14,498
340,198

3,163,822
12,813
124,171
6,856
54,145

324,151

59,517

20,564
11,130,794

Deductions :
Cost of goods sold 5/
Cost of other operations
Compensation of officers
Rent paid on business property
Interest paid
Taxes paid other than income
tax 6/
Bad debts .
Depreciation
Depletion
Net capital loss 7/
Other deductions

op

23

10 ,475,274
131,027
97,332
11,860
70,586

Compiled net profit less total tax
(23 less 27)
Cash dividends paid
Stock dividends paid

10/
10/

1/ Cross sales where inventories are an income-determining factor.

4/
5/
6/
7/
8/
9/

10/
11/
12/
13/

11/
12 /

%

623,964
1,278;888
44,248

:

j

10/
12/

12/

For ’’Cost of goods sold,” see ’’deductions.”
For ’’Cost of other operations,” see ’’deductions.”'
Includes obligations of States and Territories or minor political subdivisions, securities issued under the Federal Farm Loan Act, and obligations
of the United States or its possessions.
Excludes gross receipts from sale of capital assets. Excludes nontaxable income other than interest on tax-exempt obligations and dividends on
stock of domestic corporations as reported in Schedule L of the return.
Includes taxes which are reported in ’’Cost of goods sold.”
Excludes taxes tabulated under ’’Cost of goods sold.”
For limitation on amount of net capital loss that may be reported see Section 117(d) of Revenue Act of 1934.
Excludes dividends received on stock of domestic corporations.
Excess-profits tax of $37,540 appears on returns with no net income since credit for interest received on certain obligations of the United States
and its instrumentalities is not allowed against net income in the computation of the excess-profits tax (see Article 1(d) of Treasury Decision 4469,
’’Regulations relating to the excess-profits tax imposed by Section 702 of the Revenue Act of 1934”).
Deficit.
Includes for a limited number of returns the cost of securities purchased for customers.
Excludes compensation of officers of life insurance companies which file return Form 112GL.
Includes special nonexpense deductions of life insurance companies.

g] Cross receipts from operations where inventories are not an income-determining factor.
5/

12/

Corporation returns for 1934 by major industrial groups, showing number of returns, compiled receipts and compiled deductions, compiled net profit or loss, net income or
deficit, income tax, excess-profits tax, total tax, compiled net profit after deducting total tax, and dividends paid

5.

(Money figures in thousands of dollars)
—•' 1 —— —
I N D U S T R I A L
Aggregat e

1

Number of returns

Receipts, taxable income:
Gross salesl/
Gross
receipts from other operations«?/
3
Interest
4
Rents
5
Net capital gain
6
Other receipts
7
Receipts, tax-exempt income:
Dividends from domestic coroorations
8
Interest on tax-exemot obligations^/
9

2

10

11
12
13
14
15
16
17
18
19
20
21
22

Total compiled receipts^/
Deductions:
Cost of goods sold5/
Cost of other operations
Compensation of officers
Rent paid on business property
Interest p a i d '
Taxes paid other than income taxO/
Bad debts
Depreciation
Depletion
Net capital loss7/
Other deductions
Total compiled deductions^/

Compiled net profit, or net loss.(10 less „
22)
24 Net income or deficits/
25 Income tax
26 2xcess-profits tax^/

Agriculture
and related
industries

Mining
and
quarrying

G R O U P S
Manufacturing

Total
manuf ac turi ng

Food and
kindred
products

Liquors' and
beverages
(alcoholic and
nonalcoholic)

Tobacco
products

Textiles
and their
products

Leather
and its
manufactures

469,804

9,326

13,543

9-1,292

12,524

2,908

376

15,423

2,344

74,309,307
18,551,986
2,696,250
1,585,017
242,559
1,228,688

395,547
101,159
5,358
12,484
2,561
14,957

2,131,845
221,493
19,148
23,245
21 ;978
44,257

39,559,783
436,236
148,048
109,416
37,098
413,731

8,166,607
53,641
18,333
12,112
3,492
56,091

1,039,678
5,735
1,401
4,102
808
6,068

1,045,465
367
2,267
740
872
3,221

5,114,483
70,756
7,820
12,379
4,393
34,266

1,018,483
3,445
1,930
1,167
400
6,677

2,217,446
663,601

5,582
1,826

75,747
8,386

388,637
63,852

34,850
5,823

1,629
1,188

6,695
3,714

6,163
6,093

1,050
732

101,494,854

539,474

2,546,100

41,156,801

8,350,948

1,060,609

1,063,340

5,256,352

1,033,885

57,458,402
8,670,246
2,173,058
1,485,571
3,421,519
2,161,892
1,182,064
3,362,108
311,852
297,397
17,995,528

272,513
29,468
16,900
15,346
23,193
21,669
6,876
32,212
4,824
15,627
148,138

1,434,536
100,416
41,570
17,426
78,854
89,851
16,512
174,884
184,522
4,888
327,817

30,017,301
175,103
753,805
293,937
367,205
565,721
250,657
1,316,817
106,895
36,540
5,840,416

6,569,265
17,964
86,114
37,491
52,120
69,599
26,227
146,722
170
3,913
1,049,490

676,141
1,956
20,854
4,394
7,778
41,781
9,754
25, i*68
64
2,294
184,883

829,970
68
6,767
1,358
3,455
8,183
1,426
11,094
962
42
95,397

4,220,264
46,789
139,977
41,650
33,232
56,027
18,979
123,033
145
8,033
539,167

847,498
1,586
24,318
8,739
4,668
6,222
4,408
11,861
43
539
103,296

98,519,637

586,766

2,471,276

39,724,397

8,059,077

975,866

958,720

5,227,308

1,013,278 ‘

2,975,218^
94,170
588,375
7, 673

1.0/ 47,291
10/ 54,699
4,198
80

74,823
10/ 9,311
21,456
428

1,432,404
979,915
262,466
3,477

291,871
251,198
41,768
642

84,743
81,925
13,427
402

104,620
94,211
13,241
5

29,044
16,789
19,505
291

596,048

4,278

21,884

265,943

42,411

13,830

13,246

19,795

5,084

52,939
266,133
4, 480

1,166,461
1,609,659
104,697

249,460
258,693
9,037

70,913
25,508
1,457

91,373
96,458
958

9,249
99,019
9,357

15,622
22,277
1,392

23

27
28
29
30

Total tax
Compiled net profit less total tax (23
less 27)
Cash dividends paid
Stock dividends paid

For footnotes, see page 7.

2,379,169
4, 889,379
214,763

4
,, ■ü

10/ 5 1 y 5 T & ^ ^ 7 '
26,410
560

'

20,706
18,924
5,018
66

6.

Corporation returns for 1934 hy major industrial groups, showing number of returns, compiled receipts and compiled deductions, compiled net profit or loss, net incfyne or
deficit, income tax, excess-profits tax, total tax, compile!, net profit after deducting total tax, and dividends paid
(Money figures in thousands of dollars)

:

INDUSTRIAL GROUPS

F o rest

Rubber

• p rod u cts
1

2
3
4

3

6
7
8
9
10
11
12
13
Ik
1R
it
17
18
19
20
21
22

Number o f re tu rn s
R e c e ip t s , ta x a b le income:
Gross s a le s 1/
.
Gross r e c e ip t s from o th e r o p e ra tio n s 2/
In t e r e s t
Rents
Net c a p it a l g a in
Other r e c e ip t s
R e c e ip t s , tax-exem pt indome:
D ividen ds from dom estic c o rp o ra tio n s
I n t e r e s t on tax-exem pt o b lig a t io n s 3 1
T o ta l com piled r e c e ip t s 4/
D e d u ctio n s:
Cost o f goods s o ld 5 /
Cost o f oth er o p e ra tio n s
Compensation o f o f f i c e r s
Rent p a id on b u sin e ss p ro p e rty
In t e r e s t p a id
Taxes p a id o th er than income ta x 6/
Bad debts
D e p re c ia tio n
D e p le tio n
Net c a p i t a l lo s s J J
Other d ed u ctio n s
T o ta l com piled d ed u ctio n s 8/

23
24

Com piled net p r o f i t or n e t lo s s (10 le s s 22)
Net income or d e f i c i t 8/

26

27

Income ta x
E x c e s s - p r o fit s ta x 9 ./
T o ta l ta x

28
29
30

Com piled net p r o f i t le s s t o t a l ta x ( 2 3 le s s 2 7 )
Cash d iv id e n d s p a id
Sto ck d iv id e n d s p a id

For fo o t n o t e s , see p .

£ prod ucts

P a p er, p u lp ,
0
", ,
and p rod u cts

M anufacturing
p r in t i n g ,
p u b lis h in g ,
and a l l i e d
in d u s tr ie s

—

■con tin u ed
Chem icals
and a l l i e d
p rod ucts

¿ to n e , c l a y ,
and g la s s
p rod ucts

M etal and
i t s p rod u cts

6 ,537

2,240

12,108

7 ,6 O8

3,74 4

19,281

5,592

71$ ,0 51

6,018

1 , 050,670
16 ,75 4

l,2 8 0 ,l4 S

70 6 ,316

9,006

1 0 , 167,53 6
97,463

1 , 163 ,162

4,3 32
9 ,2 « -

5,212
5,530

2 9 ,603

1,8 0 3

51,9^3
24,824
7,200
190,399

5,259
3,492
3,296

4,233

2 ,6 75
12 ,15 4

10,608
4,221
1,139
8,784

97,645
5.834
10,182

6,284,780
6 l ,083

810,405

4,594

18 ,5 76
6 96

2 ,4QS
1,282

756,950

524,269
152
7,603

10,704
11,772
12,8 6 7

3,503
28,953
8
2,279
131,159

23,682

4,410

21,56 7

19,997
78

10/

513,309
7p4 ,421

9,729

2,22 6

19,207

5 1,12 6

3,466
2,645
1,234
8,053

4,961
2,122

15.4 0 7

4 ,l6 8

19 5,625
8 ,731

4,740
2,111

2 5 ,4 13

7,503
1,779

5 .1 6 7
3 ,7 2 3

1,096,685

1 , 316,576

1 , 860,984

6 , 657,292

8 4 l,6 6 1

10,6^3,847

1 , 20 7,672

1 ,2 6 0 ,5 0 2

813,934
9,257

917,50 0

L ,1 2 1 , 3 1 6
54,466

4 ,3 8 5 ,1 4 2

540,322
3,3 08

7 ,7 57,7 86

8 13,894

36,371

31,361

7,578
22,417
21,675
13,399
4 l ,549

11,592

88 ,564
34,505
20,226

66., 546
57,229
57,835
150,915
37,380

23,258
4,368
12,962

179,988
01,990
107,308

13,592
7,644

6 1,20 2

135 ,0 12
35,265
426,30 2

18,600
3,225

1,557
1,208

777

25 ,545

13,387

89,030

22,063

6 , 3 0 7 , 44g

309,535

1 0 , 282,678

1 , 169 ,65 4

45,808
49,498

59,554
52 ,4 71

72,886

849,844
145,488

32,075
25,224

3 71,169
256,726

38,018
28,736

3 ,743

11,12 3

44,627

8,491

73,627
788
74 ,4 15

9,653

5 3 ,3 H

39,271
176

4 ,5 4 7

3 ,3 3 5

7,190

1,442

, 165,223

140,095

1 , 495,227

225,638

184,147
1 ,2 8 6 ,4 0 0

63

211

3,807

11,3 3 4

16 ,350

543
4 5 ,170

49 ,6 15

48,220
44,588
5,782

56 ,536

304,674

81,969
9,752

969

10 ,4 3 7

13.647
43.078
341

1,751
1,133

16,148
201

33,410

10,578
13,113

7,387
13,414
10,687

7 , 7 3 3 , 09s

1

6 1,152

6 9 ,7 3 8

12,330

, 257,0 23

1

2 9 1,151
78,805

411,847
527,197

3 ,3 3 0 '
41,584

179 ,40 5

18,935
7,941

6 ,7 6 0

8,421
4,115
14,586

13,452

17,499
24,044
48,558
68
i,4 o 6
377,443

1,142,493
10/
10/

1

15 ,9 4 1

18,784
7,560

153,9 8 7

733.269

C o n s tru c tio n

(Manufacturing
pot elsew here
c la s s ifie d

607

2,094
20
2 ,115

7*

- con tin u ed

59
8,550

.

363,423

23,525
44,866

4 7 7 ,1 1 s

3 2 ,0 6 7

2 ,3 6 9

29,146

2 9 6,754

2 ,2 7 7

10/
10/

4.358
ISC
4,54s

184
9 ,8 37

28,181
42,333
2,333'

25,898
34,737

10/

30,447

23.398
2 ,0 5 0

ri^
^u'H’nrrTTTHM.' rnn TTmrr iirm^uumTi wTTT\rrwr«rm
^

p o t t o tv

i m

i m

,..i r

ik o m l

-b v

a t

m n s fP

m

* * * * 4s *

t

c

^

* 4t

-*iRf Section of Painting and Sculpture of the 9*.
Procurement Division^

port

v m .tw w K

. » * t t >. t t p p »

npp»y^

g T M M T P ffly ^

/

b'üjjj

Dupnptasnvfe*, %

commissions for mural decorations

to be installed in the Wilmington^jDelaware"i Post Office and Court House have
been awarded to Albert Pels and Herman H. Zimmermai}**»#«

following

an anonymous competition in which fifty-nine painters tpofc part f /
"TlUMA'iiXU cw.
•**
The design by Mr« Pels depicvs ”The Landing of the Swedes at the
Hocks in Wilmington - Circa 1620.”

His completed mural will be 7Q(Í5)wide

by l ^ é ® high and will be placed behind the Judge*s bench in the Court Room
on the second floor.

The amount to be paid for the completed and installed

mural is $1,700.
Two designs will be carried out by Mr. Zimmerman.

They depict ”The

Manufacture and Use of Chemicals in Relation to Agriculture” and each of the
murals will be 12(*) wide by 4 0 high.
lobby of the building.

Both will be installed in the public

For these murals, when completed and installed, the

amount to be paid is $1,900.
The competition
for these mural paintings
UHM* j w w
locallywj^a' committee cfetorposed of Christopher L. Wardj George Harding, mural
painter^ and E. William Martin, architect of the building.
Mr. Zimmerman was born June 19, 1910^ in Cincinnati,
Ohio.

He studied painting, drawing, design and modeling for five years under

John E. Weis, Frank Myers and Clement Barshom.
study he received four annual scholarships.

During this period of his

Later he studied painting and

design under Kenneth Hayes Miller at the Art Students’ League of Hew York.

\

TREASURY DEPARTMENT
Washington
FOR RELEASE, AFTERNOON NEWSPAPERS,
Tuesday. June.8. 1937*
.
..
6-3-37.

Press Service
Nc. 10-43

Coimnissicns for mural decorations to he installed in the Wilmington (Delaware)
Post Office and Court House have been awarded to Albert Pels and Herman H. Zimmerman
following an anonymous competition in which fifty-nine painters took part, Secretary
Morgenthau announced today.

The competition was conducted by the Section of Painting

and Sculpture of the Procurement Division.
The design by Mr, Pels depicts ’’The Landing of the Swedes at the Rocks in
Wilmington - Circa 1620.w

His completed mural will be 7 feet 10 inches wide by

10 feet 6 inches high and will be placed behind the Judge* s bench in the Court Room
on the second floor.

The amount to be paid for the completed and installed mural

is'$1,700.
Two designs will be carried cut by Mr. Zimmerman,

They depict tTThe Manufacture

and Use of Chemicals in Relation to Agriculture4* and each of the murals will be 12
feet wide by 4 feet high.
ing,

Beth will be installed in the public lobby of the build

Por these murals, when completed and installed, the amount to be paid is

$1,900.
The competition for these mural paintings locally was in charge of a committee
composed of Christopher L. Ward, George Harding, mural painter, and E. William
Martin, architect of the building.
Mr. Zimmerman was born June 19, 1910, in Cincinnati, Ohio.

He studied painting,

drawing, design and modeling for five years under John E. Weis, Prank Myers and
Clement Barshcrn.
ships.

During this period of his study he received four annual scholar

Later he studied painting and design under Kenneth Hayes Miller at the Art

Students*. League of New York*

He also received a scholarship there supporting

2

. -

himself by working at night.

He then went to Europe and spent much time in the

cathedrals and museums in England, Holland, Belgium, France, Italy and Spain..
Uhile in Paris he studied with Andre L ’Hote.

He also held his first one-man

exhibition in Paris. •
Mr. Pels was born in Cincinnati, Ohio, on May 7, 1910..

In 1930 he began to

study painting at the Cincinnati Art Academy.under Frank Myers and J.E. Weis..
While at the Academy he won two scholarships.

Later he went to New York and

studied under Kenneth Hayes Miller, Thomas Benton, Alexander Brook, Charles Locke
and Alexander Abels.

He also studied mural design under William C. Palmer at the.

Beaux Arts Institute of Design and fresco in the American School at Fontainebleau.
Mr. Pels has exhibited widely.
ooOoo

\

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
______________________JUNE, 1937 _____________________

City National Bank, Lansing, Michigan
First National Bank, Kirkwood, 111.

l/
l/

Date of
Failure«

Total
Disbursements
Including
Offsets Allowed«

12 -22-36
9—16—36

§2,29k$k9k»00
12 ,133.00

Per Cent
Total Dis
bursements
to Total
Liabilities:

4 3 .3 1
100 ,

Per Cent
Dividend
Declared
to All
Claimants:

4 .9 13
-0 -

1/ Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold or to complete unfinished liquidation.

Capital
Stock at
date of
Failure«

$500 ,000.00
50 ,000.00

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
______________________JUNE, 19 37 ______________________

First
First
First
First
Ruhey

National Bank, Fleming, Kentucky
Nat*l Bank, Enosburg Falls, Vt.
National Bank, Holland, Minn»
National Bank, Fairmont, N* C*
National Bank, Golden, Colo*

2/
'2/
2/
Id/
2/

Seven Valleys Nat *1 Bk*, Seven Valleys, Pa»
Farmers Nat*l Bank, Crystal Lake, Iowa 2/

Date of
Failure;

Total
Disbursements
Including
Offsets Allowed;

9-15-33

$

2 -25 -3U

12-8-33
8-23-33
9-21-33
2/

1 -23 -31+
5 -23 -3U

1

2/

Formerly in conservatorship.

Per Cent
Total Disbursements
to Total
Liabilities;

Per Cent
Dividend
Declared
to All
Claimants;

ll+3,73l.oo
723,159.00
86 ,14.
7 1 »00
208,683.00
1 ,10^,873.00

9U.33
102,57 .

106.6

97.92
100.7

96.
102.1A

201 ,191.00

80,82

76.55

93.65

88.533

ii7 ,oia.oo

1014.36

109 .1+

92.1+7

Capital
Stock at
Date of
Failure;

Cash and
other Assets
returned to
Shareholders *
Agent;______

# 2 5 ,000.00
2 5 ,000,00
2 5 ,0 0 0 *0 ©
14.
0 ,000.00
50 ,000.00

$28,8^5*00
-0—
-0 -0«■0—

2 5 ,000.00
25 ,000.00

-0«*
■0«

m
INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
__ _________________ . JUNE, 1957___________________

Per Cent
Dividend
Declared
to All
Claimants:

Cash and
other Assets
returned to
Shareholders1
Agent:

Date of
Failure:
First National Bank, Mazon, 111.
First National Bank, Marathon, Iowa
2/
First National Bank, Windsor, Mo*
2/
National Bank of Unionville, Mo*
First National Bank, Newport Beach, Calif*

10- 8-32
10-31-33
3-28-34
8-13-32
2-17-32

$ 122,033.00
97,747.00
195,197.00
112,168.00
163,304.00

107.23
89.42
87.61
92.76
75.29

111.87
79.75
79.083
92.87
58.65

$ 50,000.00 $
25,000.00
50,000.00
40,000.00
25,000.00

First National Bank, Selma, N* C*
First National Bank, Allegan, Mich.
Fanners National Bank, Lake Geneva, Wise.2/
First National Bank, "ilsonville, 131,
2/
First National Bank, Ozark, Ark*

5—16—25
2—18—27
1- 5-34
11-15-33
1-13-32

150,820.00
433,115.00
556,448.00
83,183.00
91,696.00

54.61
59.06
107.1
90.8
81,77

33.3
46.39
112.073
86.65
61.9

30,000.00
50,000.00
50,000.00
25,000.00
25,000.00

Parma National Bank,
First National Bank,
The Farmers National
First National Bank,
First National Bank,

9—12—32
12-23-31
8—26—31
12-11-35
10-13-31

108,157.00
171,737.00
120,052*00
240,951.00
301,287*00

86.72
65.68
71.05
88.32
101.82

73.1
59.25
33.
82.8
101.45

25,000.00
50,000.00
25,000.00
50,000.00
30,000.00

—0—
—0—
-0-0—0—

First National Bank, Oak Park, 111*
4- 1-31
Brasher Falls National Bank, Brasher Falls, N, Y.Z/&- 5-55
First National Bank, La Harpe, Kansas
2/
9-30-53
First National Bank, Viborg, S* D*
10- 1— 31
First National Bank, Waynoka, Okla.
2/
9-12-33

239,350.00
264,211.00
99,894.00
229,474.00
148,605.00

58.13
74.94
95.81
66.49
100.8

55.55
41.
90.6
56.72
105.7

100,000.00
25,000,00
25,000.00
40,000.00
25,000.00

imO**

—Ou»
-0tpqOttm
—0—

1,324,668.00
2,480,299.00
563,068.00
174,039.00
348,603.00

52.79
100.
50.12
82.04
76*65

.
o
to

Per Cent
Total Bisbursements
to Total
Liabilities:

Total
Di sbursements
Including
Offsets Allowed:

100.
25.38
65.7
66*4

250,000.00
400,000.00
50,000.00
25,000.00
100,000.00

—0—
«•Oni
-0-0-0—

Parma, Idaho
Venice, Calif*
Bank, Fairfax, S* D*
Chaffee, Mo*
Fairview, W* Va*

First National Bank, St* Cloud, Minn*
Georgia National Bank, Athens, Ga.
Saunders County National Bank, Wahoo, Nebr.
First National Bank, Faulkton, S* D,
First National Bank, Kelso, Wash.

6-24-25
4-17-25
4-22-30
12- 8-32
12-29-31

Capital
Stock at
Date of
Failure:

56,767.00
-0-0—0—i

—0—
-0131,190.00
-0—0—

- 8 -

(the assuming hank) amounted to 5.97 per cent principal.

Total disbursements

under this receivership aggregated $51,776.00, representing 31.23 per cent
of total liabilities*

- 7 -

of liabilities by another bank.

Receiver was appointed November 21, 1932,

for the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or corrpleting unfinished liquidation.

Dividends to the

sole creditor (the assuming bank) amounted to 58.731 per cent principal.
Total disbursements under this receivership aggregated $145,785.00, representing
73.21 per cent of total liabilities.
THE OLD FIRST RATIONAL BARK, MOUNT VERNON, INDIANA.
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed September 16, 1935, for the

purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or conpleting unfinished liquidation.

Dividends to the sole creditor

(the assuming bank) amounted to 85.027 per cent principal.

Total disbursements

under this receivership aggregated $95,463.00, representing 85.03 per cent of
total liabilities.
THE NATIONAL BANK OF COMMERCE, AMARILLO, TEXAS.
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed September 5, 1933, for the

purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or completing unfinished liquidation.

Dividends to the sole creditor

(the assuming Tank) amounted to 22.442 per cent principal.

Total disbursements

under this receivership aggregated $425,652.00, representing 85.10 per cent of
total liabilities.
AMERICAN NATIONAL BANK, GILLESPIE, ILLINOIS.
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed September 22, 1932, for the

purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or completing unfinished liquidation.

Dividends to the sole creditor.

-

in receivership August 23, 1932.

6

-

Depositors and other creditors received,'

including offsets allowed, $512,837.00, representing 103.24 per cent of
total liabilities.

Unsecured creditors received 100 per cent principal

plus an additional dividend of 7.09, representing interest.
FIRST RATIONAL BANK, MARYVILLE, TENNESSEE.

IS
This hank was placed in receivership January 335, 1933.

Depositors

and other creditors received, including offsets allowed, $493,905.00, repre
senting 67.91 per cent of total liabilities.

Unsecured creditors received

56.74 per cent of their claims.
FIRST NATIONAL BANK, GRUNDY CENTER, IOWA.

Depositors and creditors of record were paid in full by assumption
of liabilities by another bank.

Receiver was appointed April 11, 1934, for the

purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or conpleting unfinished liquidation.

Dividends to the sole creditor

(the assuming bank) amounted to 50.461 per cent principal.

Total disbursements

under this receivership aggregated $27,663.00, representing 50.46 per cent of
total liabilities.
FIRST NATIONAL BANK, YOUNGSVLLLE, PENNSYLVANIA.

Depositors and creditors of record were paid in full by assumption
of liabilities by another bank.

Receiver was appointed February 1, 1934, for

the purpose of collecting a stock assessment covering deficiency in value of
assets sold and/or completing unfinished liquidation.

Dividends to the sole

creditor;(the assuming bank) amounted to 69.538 per cent principal.

Total

disbursements under this receivership aggregated $55,730.00, representing
90.25 per cent of total liabilities.
PAINESVILLE NATIONAL BANK, PAINESVILLE, OHIO.

Depositors and creditors of record were paid in full by assumption

-

$

-

FIRST NATIONAL BANK, GOLDSBORO, PENNSYLVANIA.
This hank was formerly in conservatorship.
in receivership November 3, 1933.

It was finally placed

Depositors and other creditors received,

including offsets allowed, $200,489.00, representing 92.04 per cent of total
liabilities.

Unsecured depositors received 91.01 per cent of their claims.

FIRST NATIONAL BANK, LADONIA, TEXAS.
This bank was placed in receivership December 26, 1930.

Depositors

and other creditors received, including offsets allowed, $111,858.00, repre
senting 38.88 per cent of total liabilities.

Unsecured depositors received

5. per cent of their claims.
WOODLYNNE NATIONAL BANK, WOODLYNNE, NEW JERSEY.
This bank was placed in receivership April 11, 1931.

Depositors

and other creditors received, including offsets allowed, $169,113.00, repre
senting 55.69 per cent of total liabilities.

Unsecured depositors received

38, per cent of their claims.
FIRST NATIONAL BANK, NOBLE, ILLINOIS.
This bank was placed in receivership November 14, 1931.

Depositors

and other creditors received, including offsets allowed, $]£6,596.00, repre
senting 67.63 per cent of total liabilities.

Unsecured depositors received

58.07 per cent of their claims.
FLOYD COUNTY NATIONAL BANK, FLOYDADA, TEXAS.
This bank was placed in receivership July 17, 1931.

Depositors

and other creditors received, including offsets allowed, $179,007.00, repre
senting 48.42 per cent of total liabilities.

Unsecured depositors received

18.15 per cent of their claims.
FIRST NATIONAL BANK, EUTAW, ALABAMA.
This bank was formerly in conservatorship.

It was finally placed

- 4 -

in receivership October 30, 1933.

Depositors and other creditors received,

including offsets allowed, $304,008.00, representing 105.72 per cent of total
liabilities.

Unsecured depositors received 100 per cent principal and ah ad

ditional dividend of 12.25 per cent, representing interest.

.

,

'

received cash and other assets of

CL

Stockholders

value of $36,534.00.

FIRST NATIONAL BANK, BOSWELL, INDIANA.
This bank was formerly in conservatorship.
in receivership October 3, 1933.

It was finally placed

Depositors and other creditors received,

including offsets allowed, $217,857.00, representing 106.59 per cent of total
liabilities.

Unsecured depositors received 100 per cent principal and an ad

ditional dividend of 10.7 per cent, representing interest.

Stockholders

received cash and other
FIRST NATIONAL BANK, NORTH BEND, NEBRASKA.
This bank was placed in receivership February: 9, 1933.

Depositors

and other creditors received, including offsets allowed, $172,975.00, repre
senting 99.73 per cent of total liabilities.

Unsecured depositors received

100 per cent of their claims.
FARMERS NATIONAL BANK, DAHLGREN, ILLINOIS.
This bank was formerly in conservatorship.
in receivership November 1, 1933.

It was finally placed

Depositors and other creditors received,

including offsets allowed, $126,958.00, representing 93.83 per cent of total
liabilities.

Unsecured depositors received 92.17 per cent of their claims.

FIRST NATIONAL BANK, EUDORA, ARKANSAS.
This bank was placed in receivership September 12, 1931.

Depositors

and other creditors received, inclusing offsets allowed, $188,109.00, repre
senting 79.78 per cent of total liabilities.
56.6 per cent of their claims.

Unsecured depositors received

- 3 -

CITIZENS NATIONAL LANK, DICKSON, TENNESSEE.
This hank was formerly in conservatorship.
in receivership November 3,

1933.

It was finally placed

Depositors and other creditors received,

including offsets allowed, $283,002.00, representing 81. per cent of total
liabilities.

Unsecured depositors received 73.83 per cent of their claims.

FIRST NATIONAL BANK, SEWARD, PENNSYLVANIA.
This bank was placed in receivership January 10, 1930.

Depositors

and other creditors received, including offsets allowed, $105,420.00, repre
senting 59.7 per cent of total liabilities.

Unsecured depositors received

51.71 per cent of their claims.
THE NATIONAL BANK OF PICO, CALIFORNIA.
This bank was formerly in conservatorship.
in receivership January 16, 1934.

It was finally placed

Depositors and other creditors received,

including offsets allowed, $178,996.00, representing 103.85 per cent of total
liabilities.

Unsecured depositors received 100 per cent principal and an

additional dividend of 14.93 per cent, representing interest.
cl

Stockholders

-

received cash and other assets of u\,n nut limnhi ft value of $52,364.00.
EABLVILLE NATIONAL BANK, EAKLVILLE, ILLINOIS.
This bank was formerly in conservatorship.
in receivership October 27, 1933.

It was finally placed

Depositors and other creditors received,

including offsets allowed, $223,835.00, representing 100.92 per cent of total
liabilities.

Unsecured depositors received 100 per cent principal and an

additional dividend of 8.246 per cent, representing interest.
Cl

^thO^L

Stockholders

A

received cash and other assets of wc-cu lima IiffEL value of $93,314.00.
FIRST NATIONAL BANK, HUBBARD, IOWA.
This bank was formerly in conservatorship.

It was finally placed

-

2

-

FIRST NATIONAL B M I , RICHWOOD, OHIO.
This bank was placed in receivership -April 17, 1931.

Depositors

and other creditors received, including offsets allowed, $211,248.00, repre
senting 52.9 per cent of total liabilities.

Unsecured creditors received

36.497 per cent of their claims.
SECURITY NATIONAL BANK, FAIRFIELD, IDAHO.
This bank was placed in receivership March 19, 1932.

Depositors

and other creditors received, including offsets allowed, $99,425.00, repre
senting 105.65 per cent of total liabilities.

Unsecured depositors received

100.per cent principal and an additional dividend of 11.81 per cent, repre
senting interest.

Stockholders received cash and other assets of ^

r'iffimfflii 1

value of $30,321.00.
FIRST NATIONAL BARK, DUBLIN, GEORGIA.
This bank was placed in receivership September 24, 1928.

Depositors

and other creditors received, including offsets allowed, $988,355.00, repre
senting 63.05 per cent of total liabilities.

Unsecured depositors received

20.95 per cent of their claims.
FIRST NATIONAL BANK, THOMASVILLE, GEORGIA.
This bank was placed in receivership July 27, 1932.

Depositors

and other creditors received, including offsets allowed, $232,988.00, repre
senting 73.78 per cent of total liabilities.

Unsecured creditors received

59.15 per cent of their claims.
FIRST NATIONAL BANK, GREENSBORO, ALABAMA.
This bank was placed in receivership July 21, 1931.

Depositors

and other creditors received, including offsets allowed, $158,682.00, repre
senting 48.38 per cent of total liabilities.
8. per cent of their claims.

Unsecured depositors received

TREASURY DEPARTMENT
Washington
Press Service

/o “ t/ y
J* F. T. 0*Connor, Conptroiler of the Currency, today announced the
completion of the liquidation of 29 receiverships during the month of May,
1937.

This makes a total of 675 receiverships finally closed or restored to

solvency since the Banking Holiday of March, 1933.

Total disbursements,

including offsets allowed, to depositors and other creditors of these 675
receiverships, exclusive of the 42 restored to solvency, aggregated
$224,950,764.00, or an average return of 79.09 per cent of total liabilities,
while unsecured creditors received dividends amounting to an average of 67.13
per cent of their claims.

Dividends distributed to creditors of all active

receiverships during the month of May, 1937, amounted to $3,136,835.00.

Total

dividends paid and distributions to depositors of all receiverships from
March 16, 1933, to May 31, 1937, amounted to $858,696,875.00.

FIRST NATIONAL BANK, RIDGE FARM, ILLINOIS,
This bank was formerly in conservatorship.
receivership October 10, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $88,467.00, representing 102.09 per cent
of total liabilities*

Unsecured depositors received 100 per cent principal
l*-f. 1
»
and an additional dividend of
per cent, representing interest. Stock
holders received cash and other assets of an estimated value of $60,124.00.
CORINTH NATIONAL BANK, CORINTH, NEW YORK.
This bank was placed in receivership January 20, 1932.

Depositors

and other creditors received, including offsets allowed, $1,374,623.00, repre
senting 87.81 per cent of total liabilities.
87.02 per cent of their claims.

Unsecured depositors received

TREASURY DEPARTMENT
•i, 'i;

Washington

FOR RELEASE, MORNING NEWSPAPERS,

Press Service
No. 10-44

Tuesday.. June 8, 1937.
6-4-37

J.E.T. O’Connor, Comptroller of the Currency, today announced the completion
of the liquidation of 29 receiverships during the month of May, 1937.

This

makes a total of 675 receiverships finally closed or restored to solvency since
the Banking Holiday of March, 1933.

Total disbursements, including offsets

allowed, to depositors and other creditors of these 675 receiverships, exclusive
of the 42 restored to solvency, aggregated $224,950,764.00, or an average return
of 79.09 per cent of total liabilities, while unsecured creditors received
dividends amounting to an average of 67.13 per cent of their claims.

Dividends

distributed to creditors of all active receiverships during the month of May,
1937, amounted to $3,136,835.00.

Total dividends paid and distributions to

depositors of all receiverships from March 16, 1933, to May 31, 1937, amounted
tc $858,696,875.00.

FIRST NATIONAL BANK, RIDGE FARM, ILLINOIS
This bank was formerly in conservatorship.
receivership October 10, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $88,467.00, representing 102.09 per cent
of total liabilities.

Unsecured depositors received 100 per cent principal and

an additional dividend of 14.6 per cent, representing interest.. Stockholders
received cash and other assets of an estimated value of $60,124,00.
CORINTH NATIONAL BANK, CORINTH, NEW YORK.
This bank was. placed in receivership January 20, 1932.

Depositors and

other creditors received, including offsets allowed, $1,374,623.00, representing
87.81 per cent of tctal liabilities.
of their claims.

Unsecured depositors received 87.02 per cent

~2~
first

NATIONAL BANK, RICHWOOD, 0HIO
This hank was placed in receivership April 17, 1931,

Depositors and other

creditors received, including offsets allowed, $211,248,00, representing 52,9
per cent of total liabilities.

Unsecured creditors, received 36.497 per cent of

their claims,
SECURITY NATIONAL BANK, FAIRFIELD, IDAHO.
This hank was placed in receivership March 19, 1932.

Depositors and other

creditors received, including,offsets allowed, $99,425.00, representing 105.65
per cent of total liabilities.

Unsecured depositors received 100 per cent

principal and an additional dividend of 11.81 per cent, representing interest,
Stockholders received cash and other,assets of a hook value of $30,321.00,
FIRST NATIONAL BANK, DUBLIN, GEORGIA.
This hank was placed in receivership September 24, 1928., Depositors and
other creditors received, including.offsets allowed, $988,355.00, representing
63,05 per cent of total liabilities.

Unsecured depositors received 20.95 per

cent of their claims.
FIRST NATIONAL BANK, THOMASVILLE,

-GEORGIA,

This hank was placed in receivership July 27, 1932,

Depositors and other

creditors received, including offsets allowed, $232,988.00, representing 73.78
per cent of total liabilities.

Unsecured creditors received 59,15 per cent of

their claims.
FIRST NATIONAL BANK, GREENSBORO, ALABAMA.
This hank was placed in receivership July 21, 1931,

Depositors and other

creditors received, including offsets allowed, $158,682.00, representing 48.38
per cent of total liabilities.
claims.

Unsecured depositors received 8* per cent of their

-3CITIZENS RATIONAL BANK, DICKSON,

TENNESSEE.

This "bank was Formerly in conservatorship.
receivership November 3, 1933.

It was finally placed in

Depositors and other creditors received, including

offsets allowed, $283,002.00, representing 81. per cent of total liabilities.
Unsecured depositors received 73.83 per cent of their claims.
FIRST NATIONAL BANK, SEWARD, PENNSYLVANIA.
This "bank was placed in receivership January 10, 1930.

Depositors and,other

creditors received, including offsets allowed, $105,420.00, representing 59.7
per cent of total liabilities.

Unsecured depositors received 51.71 per cent of

their claims.
THE NATIONAL BANK OE PICO, CALIFORNIA.
This bank was formerly in conservatorship.
ship January 16, 1934.

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $178,996.00, representing 103.85 per cent of total liabilities. Unsecured
depositors received 100 per cent principal and an additional dividend of 14.93
per cent, representing interest.

Stockholders received cash and other assets of

a bock value of $52,364,00.
EAELYILLE NATIONAL BANK, EARLVILLE, ILLINOIS.
This bank was formerly in conservatorship.
ship October 27, 1933*

It was finally placed in receiver

Depositors and,other creditors received, including offsets

allowed, $223,835.00, representing 100.92 per cent of total liabilities.

Un

secured depositors received 100 per cent principal and an additional dividend of
8.246 per cent, representing interest.

Stockholders received cash and other

assets of a book value of $93,314,00.
FIRST NATIONAL BANK, HUBBARD, IOWA.
This bank was formerly in conservatorship.
ship October 30, 1933.

It was finally placed in receiver

Depositors and other creditors received, including offsets

-4allowed, $304,008.00, representing 105.72 per cent of total liabilities.

Unsecured

depositors received 100 per cent principal and an additional dividend of 12.25
per cent* representing interest.

Stockholders received cash and other assets of

a book value of $36,534.00.
FIRST NATIONAL BANK, BOSWELL, INDIANA.
This bank was formerly in conservatorship..
ship October 3, 1933..

It was finally placed in receiver

Depositors and ether creditors received, including offsets

allowed, $217,857.00,, representing 106.59 per cent of total liabilities.

Unsecured

depositors received 100 per cent principal and an additional dividend of 10.7 per
cent, representing interest.

Stockholders received cash and other assets of a

book value of $70,887.00.
FIRST NATIONAL BANK, NORTH BEND, NEBRASKA.
This bank was placed in receivership February 9, 1933.

Depositors and. other

creditors received, including.offsets allowed, $172,975.00, representing 99.73
per cent of total liabilities.

Unsecured depositors received 100 per cent of their

claims.
FARMERS NATIONAL BANK, DAHLGREN, ILLINOIS.
This bank was formerly in conservatorship.

ship November 1, 1933.

It was finally placed in re c e iv e r

Depositors and.other creditors received, including offsets

allowed, ^$126,958.00,.representing 93.83 per cent.of total liabilities.

Unsecured

depositors received 92.17 per cent of their claims.
FIRST NATIONAL BANK,. EUDORA, ARKANSAS. .
This bank was placed in receivership September 12, 1931.

Depositors and other

creditors received, including offsets allowed, $188,109.00, representing 79.78 per
cent of total liabilities.
claims,

Unsecured depositors received 56.6 per cent of their
t

5

FIRST NATIONAL BANK, GOLDSBORO, PENNSYLVANIA.
This hank was formerly in conservatorship.
in receivership Novemher 3, 1933.

It was finally placed

Depositors and other creditors received,

including offsets allowed, $200,489.00, representing 92.04 per cent of total
liabilities,

Unsecured depositors received 91.01 per cent of their claims.'

FIRST NATIONAL BANK, LADONIA, TEXAS.
This hank was placed in receivership December 26, 1930.

Depositors

and other creditors received, including offsets allowed, $111,858.00, repre
senting 38.88 per cent of total liabilities.

Unsecured depositors received

5. per cent of their claims.
W00DLYNNE NATIONAL BANK, WOODLYNNE, NEW JERSEY.
This bank was placed in receivership April 11, 1931.

Depositors

and other creditors received, including offsets allowed, $169,113.00, repre
senting 55.69 per cent of total liabilities.

Unsecured depositors received

38. per cent of their claims.
FIRST NATIONAL BANK, NOBLE, ILLINOIS.
This bank was placed in receivership November 14, 1931.

Depositors

and other creditors received, including offsets allowed, $126,596.00, repre
senting 67.63 per cent of total liabilities.

Unsecured depositors received

58*07 per cent of their claims.
FLOYD COUNTY NAT 10M L BANK, FLOYDADA, TEXAS.
This bank was placed in receivership July 17, 1931.

Depositors

and other creditors received, including offsets allowed, $179,007.00, repre
senting 48.42 per cent of total liabilities.

Unsecured depositors received

18,15 per cent of their claims..
FIRST NATIONAL BANK, EUTAW, ALABAMA.
This bank was formerly in conservatorship.

It was finally placed

-

in receivership August 23, 1932.

6-

Depositors and other creditors received,

including offsets allowed, $512,837.00, representing 103.24 per cent of
total liabilities.

Unsecured creditors received 100 per cent principal

plus an additional dividend of 7.09, representing interest.

FIRST NATIONAL BAM, MARYVILLE, TENNESSEE.
This bank was placed in receivership January 13, 1933. Depositors
and other creditors received, including offsets allowed, $4-93,905.00, repre
senting 67.91 per cent of total liabilities. Unsecured creditors received
56.74 per cent of their claims.
FIRST. NATIONAL BANK, GRUNDY CENTER, IOWA.
Depositors and creditors of record were paid in full by assumption
of liabilities by another bank.

Receiver was appointed April 11, 1934, for

the purpose of collecting a stock assessment covering deficiency in value of
assets sold and/or completing unfinished liquidation.

Dividends to the sole

creditor (the assuming bank) amounted to 50.461 per cent principal.

Total

disbursements under this receivership aggregated $27,663.00, representing
50.46 per cent of total liabilities.

FIRST NATIONAL BANK, YOUNGSVILLE, PENNSYLVANIA.
Depositors and creditors of record were paid in full by assumption
of liabilities by another bank. ,Receiver was appointed February 1, 1934, for
the purpose of collecting a stock assessment covering deficiency in value of
assets sold and/or completing unfinished liquidation.

Dividends to the sole

creditor (the assuming bank) amounted to 69.538 per cent principal.

Total

disbursements under this receivership aggregated $55,730.00, representing
90.25 per cent of total liabilities.

PAINE5VILLE NATIONAL BANK, PAINESVILLE, OHIO.
Depositors and creditors of record were paid in full by assumption

of liabilities by another bank.

Receiver was appointed November 21, 1932,

for the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or completing unfinished liquidation.

Dividends to the

sole creditor (the assuming bank) amounted to 53.731 per cent principal.
Total disbursements under this receivership aggregated $145*735.00, representing
73.21 per cent of total liabilities.
THE OLD FIRST NATIONAL BANK, MOUNT VERNON, INDIANA.
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed September 16, 1935, for the

purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or completing unfinished liquidation.

Dividends to the sole creditor

(the assuming bank) amounted to 35.027-per cent principal.

Total disbursements

under this receivership aggregated $95,463.00, representing 85.03 per cent of
total liabilities.
THE NATIONAL BANK OF COMMERCE, AMARILLO, TEXAS.
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed September 5, 1933, for the

purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or completing unfinished liquidation.

Dividends to the sole creditor

(the assuming bank) amounted to 22.442 per cent principal.

Total disbursements

under this receivership aggregated $425,652.00, representing 85.10 per cent of
total liabilities..
AMERICAN NATIONAL BANK, GILLESPIE, ILLINOIS.
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed September 22, 1932, for the

purpose of collecting a stock assessment covering deficiency in value of assets
sold and/or completing unfinished liquidation.

Dividends to the sole creditor

~ 8 -

(the assuming hank) amounted to 5.97 per cent principal.

Total disbursements

under this receivership aggregated $51,776.00, representing 31.23 per cent
of total liabilities.

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
_____________________ MAY, 1937_________ _ _ _________

Date o f
F a ilu r e :
F i r s t N a tio n a l Bank, Ridge Farm, 111. § f
C o rin th N a tio n a l Bank, C o r in th , N. Y .
F i r s t N a tio n a l Bank, Richwood, Ohio
S e c u r it y N a tio n a l Bank, F a i r f i e l d , Idaho
F i r s t N a tio n a l Bank, D u b lin , G e o rg ia
F i r s t N a tio n a l Bank,
F i r s t N a tio n a l Bank,
C it iz e n s N a t ’ l Bank,
F i r s t N a tio n a l Bank,
The N a tio n a l Bank o f

T h o m a sv ille , G eo rg ia
G reenshoro, Alabama
D ick so n , Tenn.
2/
Seward, Pa.
P ic o , C a l i f .
2/

E a r l v i l l e N a t '1 Bank, E a r l v i l l e , 111.
F i r s t N a tio n a l Bank, Hub oard, Iowa
F i r s t N a tio n a l Bank, B o s w e ll, In d .
F i r s t N a tio n a l Bank, N orth Bend, Neb.
Farmers N a t 'l Bank, D a h lg re n , 111.
F i r s t N a tio n a l Bank, E udora, A rk .
F i r s t N a tio n a l Bank, G o ld sh o ro , Pa.
F i r s t N a tio n a l Bank, L a d o n ia , Texas
Woodlynne N a t’ l Bank, YsFoodlynne, N. J .
F i r s t N a tio n a l Bank, No'ble, 111.

II
m
2/
2/

27

F lo y d C o u n ty N a t’ l Bank, F lo y d a d a , Texas
F i r s t N a tio n a l Bank, Eutaw , A la .
2/
F i r s t Na t io n a l Bank,. M a r y v ille , Tenn.

1 0 - 10 -3 3
1 - 2 0 -3 2
4-

I 7- 3I '
3-19-32
9-24-28
7-27-32

T o ta l
Disbursem ents
In c lu d in g
O f fs e t s A llow ed:
$
1

88 ,467.00
,3 7 4 ,6 2 3 .0 0
211,248.00
9 9 ,425.00
988,355.00
2 3 2 , 9 8 8 .0 0
1 5 8 , 6 8 2 .0 0
2 8 3 , 0 0 2 .0 0

Per Cent
T o ta l D is bur sements
to T o ta l
L ia b ilitie s :

Per Cent
D ivid en d
D e cla re d
to A l l
C la im a n ts :
114.6

1 0 5 .6 5
6 3 .0 5

111.81
20.95

$ 5 0 , 0 0 0 .0 0
3 5 , 0 0 0 .0 0
40 ,0 0 0 .0 0
2 5 , 0 0 0 .0 0
2 0 0 , 0 0 0 .0 0

73 -78
48.38
81.
59-7

1 0 0 , 0 0 0 .0 0
1 0 0 , 0 0 0 .0 0
5 0 , 0 0 0 .0 0
2 5 , 0 0 0 .0 0
5 0 , 0 0 0 .0 0

1 0 2 .0 9
8 7 .8 1

52.9

8 7 .0 2
3 6 . 1+57

11-3-33
1 - 10 -3 0
1 - 16 -3 4

105,420.00
1 7 8 , 9 9 6 .0 0

1 0 3 .8 5

59.15
3.
73.83
51.71
114.93

10 - 2 7 -3 3
10-30-33
10-3-33
2- 9 -3 3
1 1 - 1-3 3

223,835.00

1 0 0 .9 2

108.246

3 0 4 , 00 s . 00
2 1 7 , 8 5 7 .0 0
1 7 2 , 9 7 5 .0 0
1 2 6 , 9 5 8 .0 0

105.72

1 1 2 .2 5
1 1 0 .7
10 0 .

9- 1 2 - 3 1
1 1 - 3 -3 3
1 2 - 2 6 -3 0
4- 11-3 1
1 1 - 14 -3 1

1 8 8 , 1 0 9 .0 0
200,489-00
1 1 1 , 8 5 3 .0 0
1 6 9 , 1 1 3 .0 0
1 2 6 , 5 9 6 .0 0

7- 17 -3 1

1 7 9 , 0 0 7 .0 0
5 1 2 , 8 3 7 .0 0
4 9 3 , 9 0 5 .0 0

7- 2 1-3 1

8-23-33
1-13-33

2/ F orm erly in c o n se rv a to rsh ip i

•

C a p ita l
S to ck a t
d ate o f
F a ilu r e :

1 0 6 .5 9

99-73
93-83
79-78
9 2 .0 4
3 8 .8 8
5 5 .6 9
6 7 .6 3

48.42
1 0 3 .2 4
6 7 .9 1

Cash and
o ther A s s e ts
retu rn ed to
S h a re h o ld e rs ’
Agent':
$

6 0 ,1 2 4 .0 0
- 0-P 3 0 , 3 2 1 .i o
- 0-0- 0- 0- 05 2 , 3 6 4 .0 0

5 0 , 0 0 0 .0 0
5 0 , 0 0 0 .0 0
2 5 , 0 0 0 ,0 0
5 0 , 0 0 0 .0 0
2 5 , 0 0 0 .0 0

9 3 , 311 +. 00
3 6 , 531+. 00
7 0 , 8 8 7•0 0

5 8 .0 7

4 0 ,0 0 0 .0 0
2 5 , 0 0 0 .0 0
1 0 0 , 0 0 0 .0 0
5 0 , 0 0 0 .0 0
2 5 , 0 0 0 .0 0

- 0- 0-0- 0- 0-

1 8 .1 5
1 0 7 .0 9
5 6 . 74

5 0 , 0 0 0 .0 0
1 0 0 , 0 0 0 .0 0
1 0 0 , 0 0 0 .0 0

- 0- 0- 0-

9 2 .1 7
5 6 .6
9 1 .0 1
5.
38.

—v
(3
—
_y—
- 0-

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
______________________MAY. 1937_______________________

Date of
Failure:
First Nat’1 Bank, Grundy Center, Iowa u
First National Bank, Youngsville, Pa. u
Painesville Nat'l Bank, Painesville, Ohio Iy
The Old First Nat'l 3k., Mount Vernon,, Ind. i/
The Nat'l Bank of Commerce, Amarillo, Tex.
i/

4-11-34
2-1-34
11-21-32
9-16-35
9-5-33

American Nat'l Bank, Gillespie, 111.

9-22-32

if

U

Total
Disbursements
Including
Offsets Allowed:
$

Per Cent
Total Disbursernents
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants;

27,663.00
55,730.00
145,785.00
95,463.00
425,652.00

50.46
90.25
73.21
85.03
85.10

50.461
69.538
58.731
85.027
22.442

51,776.00

31.23

5.97

Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold, or to complete unfinished liquidation.

Capital
Stock at
date of
Failure:
$

50,000.00
50,000.00
150,000.00
100,000.00
150,000.00
50,000.00

i

■'

-s*

allotments upon, or to rejeot, application» for largar amounts, or to adopt any or
a ll of »aldi methods or euch othsr methods of allot&ent and classification of allot*
monta as s ia li be dessmd by hi« to be in thè public interest; and bla action in any
or a ll of tbaae reepecta »hall be final.

Allotment noticea « ili be sant out promptly

upon a ilota»nt, and thè beala of thè allotment « ili be publioly announced.

iv. mnsmt
1.

Payment et par and accrued internet» i f any» for notea allotted heraundar

must be mede or compieted on or before lune 15» 193?» or on later allotment.

In

•rery case whare payment la not ao complated» thè payment with application up to
10 percent of thè amount of notea applied for shall, upon declaratlon mede by thè
Seeretary of thè Treasury in Me diaeretlon» be forfelted to thè United States.
Any qualified depositary « ili be pemitted to make payment by credit for notea
allotted to i t for ita e lf and ita euatomara np to any amount for whleh it shall be
qualified In excess of exieting deposita, «ben ao notified by thè Federai Reserve
bank of ita district.
T.

GENERAL FROVISIOSS

1. A» fisc a l agente of thè United States» Federai Reserre bank» are
authoriaed and requeated to recaire eubacrlptlons, to make allotmenta on thè basls
and up to thè amounta indleated by thè Seeretary of thè Treasury to thè Federai
Reaerre banks of thè reapeetire dlstricta, to iesue allotment notine», to recelre
payment for notes allotted, to make delivery of notes on full~pald subserlptlons
allotted, and they may issue interim receipts pending delivery of thè definitive
notes.
8.

Yfca Seeretary of thè Treasury may at any tlme, or from timo to tira», pre-

scriba supplemental or amendatory rules and regolatione governing thè offerlng,
which v i l i be coonsunlcated proaptly to thè Federai Reserve banks.

HENRY M O B G S S m U , JR.,

Seeretary of thè Treasury*

%
3*

The notes shell he exempt, both as to principal ant interest» from all taxa

tlon (except estate or inheritance taxes, or gift taxes) now or hereafter imposed
by the United States, any State, or any of the possessions of the United States, or
by any local taxing authority»
4.

The notes will be accepted at par during such time and under such rules

and regulations as shall be prescribed or approved by the Secretary of the Treasury
in payment of income and profit« taxes payable at the maturity of the notes*
5.

The notes will be acceptable to secure deposits of public moneys, but will

not bear the circulation privilege*

6 * Bearer notes with interest coupons attached will be issued in denomination*
of |100, #300, #1,000, #3,000, #10,000 and #100,000*

The notes will not be Issued

in registered form*
xxx*
1*

subscription a s o

xL&tmmr

Subscriptions 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 authorised to act as official agencies*

Others

than banking institutions will not be permitted to enter subscriptions except for
their own account.

Subscriptions from banks and trust companies for their own

account will be received without deposit but will be restricted in each case and
for each series to an amount not exceeding one-half of the combined capital and
surplus of the subscribing bank or trust company*

Subscriptions from all others

must be accompanied by payment of 10 percent of the amount of notes applied for*
The Secretary of the Treasury reserves the right to close the books ae to any or
all subscriptions or classes of subscriptions at any time without notice*
2*

The Secretary of the Treasury reserves the right to reject any subscrip

tion, in whole or in part, to allot lees than the amount of notes applied for, to
make allotments in full upon applications for smaller amounts and to make reduced

uhitbd

m & m ® m amsrica

TRSÀSUHT NOTES
1*3/8 pere «ut

Serle« D-1939

Due September 15, 1939

1*3/4 percent

Serie« 1*1942

Due March 15, 1948

Both serie« datad «ad hearing Interest fren Jone 15, 193?

193?
Department Circular Ito. 875
— ^
Public Debt Serri®e

imSSRY BmmiSHT,
Office of thè Secretary,
Washington, June 7, 1937,

x.
1.

wmmm

<arnotes

The Secretary of thè Treasury, pursuant to thè «athority of thè Second

liberty Bond Aot, approred September 84, 191?, «« amended, inri te« subscript ione,
at par and acerued interest, from thè people of thè United Sta tee for notes of th»
United States In tuo serie«, dsslgnated 1*3/8 percent Treasury Notes of Series 0*1939
and 1*3/4 percent Treasury Notes of Seri«« A*1942j

The aaount of thè offering of

eaeh series of notes 1« #400,000,000, or thersabouts.
XX.
1.

D N S C R i m O N 0F N0TK8

The notes of Serles 0*1939 «ili be dated A m e 15, 193?, and «ili bear

interest fren that date at thè arate of 1*3/8 percent per annum, papable on a semiannua! baule on September 18, 193?, and thereafter on March 15 and September 13 In
eaeh year.

They «ili mature September 15, 1939, and «ili noi be subject to cali for

rademption prior to maturity.
8.

The notes of Series 1*1942 «ili be dated June 15, 193?, and «ili bear

interest from that date at thè rate of 1*3/4 percent per annua, payable on a semi*
annusi baels on September 15, 193?, and thereafter on March 13 and September 15 in
eaeh year.

They «111 mature March 15, 1942, and «ili not be subject to cali for

rademption prior to maturity

«*#**

banke and trust compente s for their own aocouot «ili b* recelved
without deposit but will be r©strleted iu ©acb «as« and for ©ach
«tri©« to au «ftount sot ©xce©ding one-half of the combined capital
and surplus of tb© subscribin« bank or trust company*

Subseript ions

irons ail otbers m o t b© aocompanied by 10 parcant of tb© amoent of
noto© appliad for*
The right la reserved to elosa tb© books as to any or ail ©ebaeri pt Iona or classas of subsor lpt ions at œ y timo without noti©©*
All subscript ions will b© receirad subjeot to allotmont and aubjoet
to tb© reaarrations s©t fortb in tb© ©fftotal olroular*

Paymont for

any notaa allotted must b© made or complctsd on or b©for© Jun© 15,

1989y #V ^

*

Special Tr©aaury bilia aggregatiiig #500,000,000 matura iirawdiataly
after lune 15, and about #157,000,000 Interest on tb© public debt beeoaes
payable on tbat data*
Tb© text of tb© official olroular fellona:

TREASURY DXPARTMEHT

Vtahisfloa
FOR RELEASE, FORKING MEWSPAPERS,
Monday, fan« 7, 1937___________
6/5/ff

Press Service
Ho. 1 0 - 4 5 "

Secretary of the Treasury Morgen them is today offering for
subscription, et per and eoorued interest, through the Federal
Reserve banks, #800,000,000, or thereabouts, Treasury notes in
two series, each for #400,000,000, or thereabouts.

Both series

will be deted and bear interest from June lb, 193?.

One series,

designated Series 0-1939, will bsar interest at tha rate of 1-3/8
percent, and will mature in two years and three months on Ssptosber
15, 1939.

The other series, designated Series A-194R, will bear

interest et the rate of 1-3/4 percent, and will mature in four years

)
and nln# months on March 15, 1948.

The notes will not be subject to

call for redemption prior to maturity.
The Treasury notes will be accorded the smne exemptions from
taxation as ere accorded other issues of Treasury notes now out
standing.

These provisions are specifically sat forth in tha

official circular Issued today.

The notes will be issued only

in bearer form with coupons attached, In the denominations of # 100,
#300, 11,000, #3,000, #10,000 and #100,000.
Subscriptions 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 Depart
ment are authorised to act as official agendas.

Subscriptions from

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Monday« June 7. 1 9 3 7 . ________
6/5/37

Press Service
No. 10-45

Secretary of the Treasury Morgenthau is today offering for
subscription, at par and accrued interest, through the Federal
Reserve hanks, $800,000,000, or thereabouts, Treasury notes in
two series, each for $400,000,000, or thereabouts*

Both series

will be dated and bear interest from June 15, 1937*

One series,

designated Series I>-1939, will bear interest at the rate of 1-3/8
percent, and will mature in two years and three months on September 15,
1939,

The other series, designated Series A-1942, will bear interest

at the rate of 1-3/4 percent, and will mature in four years and nine
months on March 15, 1942.

.The notes will not be subject to call for

redemption prior to maturity.
The Treasury notes will be accorded the same exemptions from
taxation as are accorded other issues of Treasury notes now outstanding
These provisions are specifically set forth in the official circular
issued today.

The notes will be issued only in bearer form with

coupons attached, in the denominations of $100, $500, $1,000, $5,000,
$10,000 and $100,000.
Subscriptions 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 Depart
ment are authorized to act as official agencies.

Subscriptions from

-

2

~

banks and trust companies for their own account will he received without
deposit hut will he restricted in each case and for each series to an amount
not exceeding one~half of the combined capital and surplus of the suhscrihing
bank or trust company.

Subscriptions from all others must he accompanied by

10 percent of the amount of notes applied for.
The right is reserved to close the hooks as to any or all subscriptions
or classes of subscriptions at any time without notice.

All subscriptions

will he received subject to allotment and subject to the reservations set
forth in the official circular.

Payment for any notes allotted must he made

or completed on or before June 15, 1937, or on later allotment.
Special Treasury hills aggregating $300,000,000 mature immediately
after June 15, and about $157,000,000 interest on the public debt becomes
payable on that date.
The text of the official circular follows:

v

UNITED STATES OE AMERICA
TREASURY NOTES
1-3/8 percent

Series D-1939

Due September 15, 1939

1-3/4 percent

Series A-1942

Due March 15, 1942

Both series dated and hearing interest from June 15, 1937

1937
Department Circular No* 575

TREASURY DEPARTMENT,
Office of the Secretary,
Washington, June 7, 1937.

Public Debt Service
I.
1*

OFFERING OF NOTES

The Secretary of the Treasury, pursuant to the authority of the Second

Liberty Bond Act, approved September 24, 1917, as amended, invites subscriptions,
at par and accrued interest, from the people of the United States for notes of the
United States in two series, designated 1-3/8 percent Treasury Notes of
Series D-1939 and 1-3/4 percent Treasury Notes of Series A-1942, respectively.
The amount of the offering of each series of notes is $400,000,000, or thereabouts.
II.
1.

DESCRIPTION OF NOTES

The notes of Series D-1939 will be dated June 15, 1937, and will bear

interest from that date at the rate of 1-3/8 percent per annum, payable on a semi
annual basis on September 15, 1937, and thereafter on March 15 and September 15 in
each year.

They will mature September 15, 1939, and will not be subject to call

for redemption prior to maturity.
2.

The notes of Series A-1942 will be dated June 15, 1937, and will bear

interest from that date at the rate of 1-3/4 percent per annum, payable on a semi
annual basis on September 15, 1937, and thereafter on March 15 and September 15 in
each year.

They will mature,March 15, 1942, and will not be subject to call for

redemption prior to maturity.

- 2 3.

The notes shall he exempt, hoth as to principal and interest, from all tax

ation (except estate or inheritance taxes, or gift taxes) now or hereafter imposed
by the United States, any State, or any of the possessions of the United States, or
by any local taxing authority.
4.

The notes will he accepted at par during such time and under such rules

and regulations as shall he prescribed or approved hy the Secretary of the Treasury
in payment of income and profits taxes payable at the maturity of the notes.
5.

The notes will he acceptable to secure deposits of public moneys, hut will

not hear the circulation privilege.
6.

Bearer notes with interest coupons attached will he issued in denomina

tions of $100, $500, $1,000, $5,000, $10,000 and $100,000.

The notes will not he

issued in registered form.
III.
1.

SUBSCRIPTION AND ALLOTMENT

Subscriptions will he received at the Federal Reserve hanks and branches

and at the Treasury Department, Washington.

Banking institutions generally may

submit subscriptions for account of customers, hut only the Federal Reserve hanks
and the Treasury Department are authorized to act as official agencies.

Others

than hanking institutions will not he permitted tc enter subscriptions except for
their own account.

Subscriptions from hanks and trust companies for their own

account will he received without deposit hut will he restricted in each case and
for each series to an amount not exceeding one-half of the combined capital and
surplus of the subscribing hank or trust company.

Subscriptions from all ethers

must he accompanied hy payment of 10 percent of the amount of notes applied for.
The Secretary of the Treasury reserves the right to close the hocks as to any or
all subscriptions or classes of subscriptions at- any time without notice.’
2.

The Secretary of the Treasury reserves the right tc reject any subscrip

tion, in whole or in part, tc allot less than the amount of notes applied for, tc
make allotments in full upon applications for smaller amounts and tc make reduced

3
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 he final.

Allotment notices will "be sent out

promptly upon allotment, and the basis of the allotment will he publicly announced.
IV.
1.

PAYMENT

Payment at par and accrued interest, if any, for notes allotted, hereunder

must be made or completed on or before June 15, 1937, or on later allotment.

In

every case where payment is not so completed, the payment with application up to
10 percent of the amount of notes applied for shall, upon declaration made by the
Secretary of the Treasury in his discretion, be forfeited to the United States.
Any qualified depositary will be permitted to make payment by credit for notes
allotted to it for itself and its customers up to any amount for which it shall be
qualified in excess of existing deposits, when so notified by the Federal Reserve
bank of its district.
V.
1«

GENERAL PROVISIONS

As fiscal agents of the United States, Federal Reserve banks are

authorized and requested to receive subscriptions, to make allotments on the basis
and up to the amounts indicated by the Secretary of the Treasury to the Federal
Reserve banks of the respective districts, to issue allotment notices, to receive
payment for notes allotted, to make delivery of notes on full-paid subscriptions
allotted, and they may issue interim receipts pending deliver of the definitive
notes,
2.

The Secretary of the Treasury may at any time, or from time to time, pre

scribe supplemental or amendatory rules and regulations governing the offering,
which will be communicated promptly to the Federal Reserve banks.

HENRY MORGENTHAU, JR.;
Secretary of the Treasury.

S5B
Returns of corporations submitting balance sheets for 1934 by major industrial groups, showing number of returns,
assets and lia b ilit ie s as of December 31, 1934, or at close of fis c a l year nearest thereto—continued.

(Money figures in thousands of dollars)

1fransportat ioi
and other
public
u t ilit ie s

1 Number o f returns with balance sheets -i/

Trafle

Service—
Professional,
amusements,
hotels, etc*

MM
1 '¡J
, 5»1m.

Z ' Z iS *

’¿ 7 4 3 -7

H'<io£

Finance-Nature of
Banking,
business
insurance,
not given
real estate,
stock and boni\
brokers, etc.!

+■

/CSS3S

S/0 j:

X 4 i 473, /3 70/ frit
3 7 7 x 44 , Z 3 i 4C /0~4
/33S3S
U s 743
S i o f-3 j / i S 4 o 4 9 s
iZ c fS 7
L 7 o f4 4 o /

i/ U j
33 m \
X yi f

3

7 /7 / ;

Assets:

1_

3

Cash -2/
Notes end accounts receivable

4

Inventories

2

/ 3 0 Ì /fS\
i * f iff\
X i 9 /sj\
/O Z i i Z 3 0

3/
Investments, tax-exempt —'
Investments, other than tax-exempt

5
6
7

Capital assets—Land, buildings,
equipment (less depreciation)

8

Other assets

13
14

Capital stock, preferred
Capital stock, ccnmon

19
16

Surplus and undivided p rofits
Less d e fic it

\M

Excludes returns

¿47

¿X0

3

1 o s i *i s

447

303

/ 4 i i S 9 iX

¿37

367

S '049344

. /S770
X 1 '7 s \
// / ¿S ;
7 i* ;.

1
3 f

07

%33
S fX 37Ÿ
/ 612. /JU

y fS z fS i
4
Zßi
\ x 3 o s i ÌZ 3

1

/ 4 /s~ 4 3 0

iji ¿>34 7 4 7
/ ”¿ S 3 0 i(* jjr 7 3 0 ^ 4 3 *
/ U S 0 7 4 ; ij. / 3 ? S 7 i 3
L 1i.

i f 46 O S 70 1 / 7 4 3 4

fo r inactive corporations and

J

. '

S 03/ / i Z
3 0 0 4 '7 # /3 i '/ '1 i
/ 4 X 3 o x \ 73 3 Ì 4 3 S Ì

L _ r i '7 7 1

i 7 4S4
X S 3 7 / 093

f 3* 7j
71 i / S ;

s

/ / 6 i 3//

JZ S Ì S 4 0*1

Total lia b ilit ie s

! 1/

J

40 sX

■ If*
¿ S 4 i0 S"7C L '1 43j4 /3Û !_ 7 7 7 / X 7 z '4 0 Ì 3 9 i S Z ,...

L ia b ilitie s :
Notes and accounts payable
10
Bonded debt and mortgages
11
Other lia b ilit ie s
12

17

¿73*
3 sc *4zs,
U s i s ir
11

4374

S o 4 7 * c 7i
X
¿7J

Total assets

9

/ ¿ S O 7*4:
4 W U * '3 ;

X

T

i!

S 7 Ï 74?
x / z i / Ì7

/ OC S S 3 0 ; / S 04/ i i z !
f s 4 4S i
3 H 7 30/

retirhs with

s si

3 * 4 1 \.

7 3

j 7 77/ 7-7x I '4 0 Ì39 ¿ S z

7s

/4 S 7 f\
f z 04À

?Ì7iÀ

fragmentarybalancésheet data,

! 2/
Includes cash in
t i l l and deposits ig bank._I ;
.
|
P
! 3j includes obligations of States and Territories or Aifior p o litic a l subdivisions| securities issued under thfe

I!

Federal Farm Loan A ct, and obligations of the United States o r jits possessions.
.

Returns of corporations submitting balance sheets fori 1904 by major industrial groups, showing number of returns,
Assets and lia b ilit ie s as of December 31, 1934, or at close of fis c e l year nearest thereto.
(Money figure s| in thousands of dollars)

Mining and
quarrying

Number o f returns with balance sheets
Assets*
Cash —/
Notes and accounts receivable
Inventories
3/
Investments, tax-exempt —
/

// ^¿<0

/9 9¿o Uy\
+0 ózfrff J
/¥ 3// 0¿t\

¿ J ¿ ¥ /1
/ JX ¥ ° l\
Z$7 r f Á
¥¥ c 5 o I

Investments, other than tax-exempt

/f ¿>$3 77/
r f lL

Capital assets—Lend, buildings,
equipment (less depreciation)
Other assets

/OX 7c5V ¥9A I /303 /5X

Total assets
L ia b ilitie s :
Notes and accounts payable

: / + c 9 7 xo 7 l m

Bonded debt and mortgages
Other l ia b ilit ie s

í ¥ o 7¿ ¥ / Á

Capital stock, preferred
Capital stock, coraoon
Surplus and undivided p rofits

/ 9 ?7¿ r f Á

Total lia b ilit ie s

For footnotes, see p. ? .

/o¿ / ¿ 5

U r ft

X¿s ¥¿9\ J 0O5\</// !
7 ¥%3 o/z
73 f ¿ s y
3 7 ¥ ¥ 'Í C $ 3rf /5+\
/ / / ¿ / 1 \ / ¿ o X 7x 0
1 C5¥ ¿¥ 5
/ 9¿o / s f
¿//¿ ¥¥¥
3 -7 + 7 x 3

xo ¥5o fin

3 ¿o¿ ¿o¥

I vP.'; ■ ■ ■
— I ------ -------------- íÍ3ú/ 3 o ¿ 6 7 T yj X 10-/33$) ¿O X Z Í /+X j 5 X 5 X X ¿ 3 f \

X 7 0 ZO ¿4ú\
¥ $ ¿ o ¥ z í/ \ .

Less d e fic it

3 7 0 A ¥ y\

Total
- Food and
manufacturing kindred
: products

Í¥~ 970 0// J
¥Í
9Ü
/X 3 / 7 / Í í i

: I

¥¥7%U li
X++-3¿)$\
/7¿> /5Z4

/ X ffX 5 +

¿ 7¿7¿/7|
/ 0 3 7 4 7 7 1 + 0Z+Î4CÏ

t+ -m \
/ /+3 /// li
¥~7703Á

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1

Fifth release
TREASURY. DEPARTMENT ) ^
J
Æ
Washington

’OR RELEASE, MORNING NT2WSPAPÏSKÔ

6asi

/ 0 1937
4,"V ----

Press Service
No.

Secretary of the Treasury Morgenthau today made public
the fourth in the series of tabulations from the "Statistics
of Income for 1934, Part 2", compiled from corporation income
and excess-profits tax returns for 1934, prepared under the
direction of Commissioner of Internal Revenue Guy T) Helvering.
The following table presents by major industrial groups
the various forms of assets and liabilities reported on balance
sheets submitted with the corporation income and excess-pro
fits tax returns for 1934

TREAS'HY DEPARTMENT
Washington

POR RELEASE, MORNING NEWSPAPERS
Thursday, June 10, 1937

Press Servi-e-e
No.' 10-46

Secretary of the Treasury Horgenthau today made public
the fourth in the series of tabulations from the "Statistics
of Income for 1934, Part 2," compiled from corporation income
and excess-profits tax returns for 1934, prepared under the
direction of Commissioner of Internal Revenue Guy T. Helvering.
The following table presents by major industrial grouns
the various forms of assets and liabilities reported on balance
sheets submitted with the corporation income and exc,ess-r>rofits tax returns for 1934.

Returns of corporations submitting balance sheets for 193** by major industrial groups, showing number of returns,
assets and liabilities as of December 31 '» 193 **, or &t close of fiscal year nearest thereto.
(Money figures in thousands of dollars)

Aggregate
*

Agriculture
and related
industries

Mining and
quarrying

I N D U S T R I A L
G R O U P S
'
______________________________________________________________ Manufacturing
Tobacco
Total manu- Food and
Liquors and
Leather and Rubber
Textiles
products and their
facturing
kindred
beverages
its manuproducts
(alcoholic and
products
products
factures
non-alcoholic)

Forest
products

Paperi, pulp
and products

Printing,
publishing
and allied
industries

Chemicals
and allied
products

Stone, clay
and glass
products

Metal
and its
products

Manufactur
ing not else
where
1£>SSC!ìfi «ari

Number of returns with balance

1

7,446

1 1 .3 6 2

S5 ,U9 S

1 1 ,UU7

2 ,6 8 6

3*17

lU ,607

2 ,2 5 7

582

6 ,1 7 9

2,163

1 1 ,0 3 2

7,032

3,5H

13,U25

5,230

6 7 ,6Hl

2 6 5 ,U 69

3 ,0 0 5 ,9 1 1

35*1,577

39,788

8 7 ,9 1 8

2 8 1,59 6

5 7 ,6 2 5

U 6 .29 S

7 5 ,2 Ug

9U,g02

12 7,6 2 9

4 9 3 ,7 4 4

10 7,5 6 9

l,lUU,ggg

9^,230

1 7 2 ,Hog
18 7,4 9 5
UH , 050

732,251
3 7 U,UgO
1 7 8 ,big

7,483,012
793,163
8 ,3 1 9 ,15 *+ 1 ,0 1 7 .15*1
1 ,6 0 2 ,72 0
1 0 6 ,UUU

1 1 3 ,6 9 0
1 5 1,2 9 2
25,855

lUU,09 g
399,215
S3. *153

6 3 2 ,1 7 7
1,071,487

1 5 1 ,7 9 2

15 4 ,2 5 5
23U . H O
2 1 .US5

2 0 6 ,96 p
1 9 7 ,1 1 3
19 ,3 0 0

2 gg,39 i
33S,7S9
35 ,2 2 2

26 2 ,16 5
224,796
UU ,092

4 5 7,5 9 6
1 5 1 .6 7 0
9 2 ,76 O

1 ,715 .8 4 5
1 ,288,952
172,148

1 5 6 ,3 0 3
2 18 ,8 8 5
55,337

2,279,352
2 ,7 2 2 ,1 3 2
75 6 ,2 2 2

273.506
302,976
’33,561

370,647

1 ,9 6 0 ,1 5 3

S2 7 ,g35

64,262

llU.697

329 ,863

5 0 ,30 9

2 Uo,2 U2

2 3 0 ,6 7 6

U 7 7 ,i59

29 U,S71

2,398,490

199,358

2 ,5 5 0 ,7 3 9

2 2 5 ,6Ul

1 ,3 0 3 ,1 5 2
10 6 ,16 5

6 ,li6 ,UHH
59 *1.72 3

20,450,597 2,249,183
3 ,6o 6 ,6oU
Uo s ,95 U

**51,038
76,738

. 1 1 0 ,2 1 1

3 1 ,9 9 1

1,855.631
1 9 1 ,7 US

16 8 ,119
5 3 ,5 9 4

3 4 3 ,0 3 9
39 ,86 0

1 ,2 2 6 ,32 2
1 2 3 ,9 8 7

9 77 ,5 9 9
130 ,6 2 6

688,333
5 1 8 ,52 U

4 ,35 2 ,2 16
5 1 6 ,3 2 s

1.020.U69
98,723

6,563,779
1 ,12 U,0 U5

U 6 2 ,82U

3 0 1 ,3 0 6 ,5 7 7

2 .2 5 1 .5 5 s

10,22S,lH2

5 2 ,5 2 2 ,6 39 5 ,76 2 ,8 9 4

9 2 2 ,6 6 3

1,021,5SU

4 ,5 1 4 ,2 9 3

7 39, *+96 1 ,IU7 , 821

2,368,635

2 ,2 1 1 ,2 3 8

2 ,331. *139

10,937,723

1,857,199

17,146,657

1 ,56 0,9 9 9

2 7 ,020 ,6 50
US,6oH,2Sl
su,096,1115
1 9 .9 76 ,0 9 4
84,970,011
48,986,312
1 2 ,3 4 7 ,1 3 6

UUj,s66
2 UU,30 g
1 7 6 ,1 5 2
3*1.999
1 ,1 4 3 ,1 1 1
*177.035
3 2 1 ,9 1 2

1 .2 9 9 ,2 5 4
1,039,097
74 9 ,2 4 3
UUS,3 U 6
4 ,9 1 7 .6 2 3
2,819,730
1 .0 4 5 ,1 5 1

6 ,7 6 7 ,5 1 7
7 9 2 ,5 1 0
U,02 U ,600
5 3 0 ,U28
3 ,579.*175
37 6 ,0 2 2
5.903,7*19
751. *+21
2 1 ,0 2 6 ,65 U 2 ,1 7 3 ,U22
1 3 ,7 6 3 ,6 7 6 1 ,36 5 ,8 8 6
2,5*13.032
226,793

loU,129
66,697

6 4 5 ,5 5 1
190,685
302,313
597,298
i,sUo,usU
1,227,855
2 9 0 ,39 3

1 2 1 ,U9 O
13,855
4 3,14 9
115 ,8 6 0
3 2 0 ,6 7 7
18 5 ,0 2 1
6 5 ,5 5 7

9 5 ,8 0 5
1 9 7 ,4 1 9
73,839
2 9 0 ,9 UU
3 7 0 ,4 0 8
1 8 1 ,6 0 8
6 2 ,2 0 3

3 5 1 ,8 0 1
2 2 3 ,3*17
1 S0 .U66
16 U.U26
1 ,0 5 7,2 2 6
6 6 3,8 32
2 7 2 ,U 63

2 2 7 ,U 70
2 6 0 ,35 3
1 3 0 ,8 3 1
353,856
804,336
Us6 ,0 7 3
5 1 ,6 8 7

3 3 1 .5 9 6
2 2 1 ,2 7 7
1 7 3 ,72 s
19 S.OU9
733,9*12
SU9 ,S99
1 7 7 ,0 5 3

1,728,418

6 6 ,9 2 1
5 0 ,Ull
3 0 3 ,4 1 9
238,723
3 7 ,6 3 s

5 7 ,6 2 9
UU,US3
5 2 ,7 0 0
14 5,5 9 9
U3 1 .U2 U
295,900
6 ,1 5 3

680,923
7 5 2 ,3 5 5
6 22 ,96 s
4 ,954,955
2 ,6 4 3,39 4
UU5 ,820

173,907
1*13.199

3 5 7 ,5 6 3
4 2 3 ,3 5 0
1 2 1 ,6 0 7

1 .SU2 .2 30
1 ,3 7 8 ,0 0 7
1 ,1 3 3 ,6 6 7
2 ,1 7 0 ,3 2 9
6 ,5 9 1 ,2 7 7
4 ,6 9 1,9 4 1
6 7 3 ,7 9 3

2 lU,9 c3
6 8 ,9 2 7
17U.71S
1 7 U ,566
5 79, % 0
¿60,187
1 1 1 ,3 7 1

3 0 1 ,3 0 6 ,5 7 7

2.251.55S

1 0 ,22 g,lU2

5 2 ,5 2 2 ,6 39 5,762,394'

9 2 2 .6 6 3

1 ,0 2 1 ,5 SU

4 ,5 14 ,2 9 3

7 3 9 ,*196 1 ,IU7 , 821

2 ,36 0 ,6 35

2 ,2 1 1 ,2 3 s

2 ,3 3 1 .*139

1 0 ,9 3 7 ,7 2 3

1. *57,199

17,146,657

1 ,560,999

1110,626

sheets l/

Assets:
Cash 2/
1 9 .9 6 0 ,8 57
Notes and accounts re
ito,528,879
ceivable
Inventories
1^,311,068
Investments, tax-exempt jj>/
19.083,771
Investments, other than
tax-exempt
90,573.299
Capital assets— Land, build
ings, equipment (less
1 0 2 ,7 5 1 ,4 9 5
depreciation)
lU,0 9 7,2 0 9
Other assets

2
3
H
5
6
7

8

Total assets

9

10
11
12
13
li
15
16

Liabilities:
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock, preferred
Capital stock, common
Surplus and undivided profits
Less deficit

17

Total liabilities

S,05 U,6 Uq

1 1 2 ,7 6 5
263,021

163,'262

For footnotes
.
..
I N D U S T R I A L
Construction Transportstion and
other public
utilities

) 1

3

f k
\
b
7

0

Assets:
Cosh 2/
Notes and accounts receivable
Inventories
Investments, tax-exempt jj>/
Investments, other than taxexempt
Capital assets— Land, buildings, equipment (less'
depreciation)
Other assets
Total assets

9

12
13
lU
15
16

Liabilities:
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock, preferred
Capital stock, common
Surplus and undivided profits
Less deficit

17

Total liabilities

10
ii

1/
2/
•$/

S

(Continued)
Service—
Professional,
amusements,
hotels, etc,.

...
,

Nature of
Finance—
Banking,
business
insurance,
not given
real estate,
stock and bond
brokers, etc.
*

lU ,032

2 1 ,2 6 5

127,*157

1 1 0 ,29 U
U'1 7,5 6 6
125,299
31,U98

1 ,30 6 ,18 5
2,659,3UU
628,698
2 6 9 ,1 5 7

1 ,2 5 0 ,8 5 4
*1 ,7 8 6 ,5 1 3
*»,37*1.275
3 1 0 .2 U2

2 *13.635

1 0 ,26 6 ,230

5 H6 ,l66
175,39*1
1 ,699,852

1 0 5 ,5 3 5

0
H
1*0

2

Number of returns with b*l?nce
sheets \/

G R O U P
Trade •

2 U 6 .U75
597,2*1**
l65,9*+3
5 6 ,0 8 3 »

1 3 ,70 1,8 6 0
2 3 ,6 4 0,15 4
. 133,535
1 6 ,5110,995

33,837
2,139
Hog

1 ,9 5 6 ,5 6 1

620,357

6 7 ,ogU,goi

15.770

. 5 0 ,4 7 2 ,0 7 6
2,858,379

3 ,6 9 7,6 20
1 ,058,06 5

5, *+*i7,303
637,367

lU,633,9 6 2
5 ,049,344

29,175
11,163

6 g,H6o ,5 70

1 7 ,4 3 4 ,1 3 0

7.771,272

1 Ho,339 ,6 52

98,764

1 3 1 ,2 5 4
2 71 ,6 5 9
96,776
6 0 9 ,9 77
377,191
17S,95S

3 ,9 0 7 ,8 3 3
2 5 ,654,029
U, 9 3 2 ,3 5 6
U,0 7 2 ,2 3 6
2 3 ,0 5 3,6 2 3
8 ,6 53,0 6 6
1 ,868.074

*1 ,9 5 1 .1 9 9
892,378
1 ,0 9 2 ,19 6
1 ,*+1 5 ,*130
6 ,6 3 8 ,1 4 7
3 ,8 3 0 ,5*15
1 ,3 8 5 .7 6 3

1 ,1 6 6 ,3 1 1
3 ,ooU,i70
3U2,302
578,7*19
2,126,167
1 ,0 0 8 ,5 30
954,956

3 ,0 3 1 ,1 6 2
1 3 ,6 11,19 6
7 2 ,38 *1.356
7,367,484
25,371.093
13,0Ul,662
3 ,9 6 7 ,3 0 1

57,555

3,249
18,177
8 ,3 2 7
73,613
lU.373
32,OHO

1 ,699,852

6 s,U6o ,5 70

1 7 ,4 3 4 ,1 3 0

7,771,272

1 4 0 ,839,652

98,764

37,171

6 ,16 6

*
391,952

Excludes returns for inactive corporations and returns with fragmentary balance sheet data.
Includes cash in till and deposits in bank.
Includes obligations of States and Territories or minor politisai subdivisions, securities issued under the
Federal Farm Loan Act, and obligations of.the United States or its possessions.

treasury

QWkimwR

M&shl ngton
FOR RELEASE, HORNING NEWSPAPERS,
Tuesday, June 8 , 1937,
¿/»/a?

Frees Service

lo

~<4 1

Secretary of the Treasury Morgenthau announced last night that
the subscription hoot» for the current offering of 1*3/6 percent Treasury
Notes of Series 0*1939 and of 1*3/4 percent Treasury Notes of Series
A~194£ closed at the close of business Monday, June 7, 1937,
Subscriptions placed In the »all before IS o fclock midnight,
Monday, June 7, will be considered as haring been entered before the
close of the subsoription books»
Announcement of ths amount of subscriptions and ths basis of
allotment will probably be made on Friday, June 11.

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPH3,
Tuesday, June 8, 1937.__________
6-7-37.

Press Service
No. 10-47

Secretary of the Treasury Morgenthau announced last night that
the subscription hooks for the current offering of 1-3/8 percent
Treasury Notes of Series D-1939 and of 1-3/4 percent Treasury notes
of Series A-1942 closed at the close of business Monday, June 7, 1937
Subscriptions placed in the mail before 12 o’clock midnight,
Monday, June 7, will be considered as having been entered before the
close of the subscription books.
Announcement of the amount of subscriptions and the basis of
allotment will probably be made on Friday, June 11.
ooOoo

m
"y0

TM áSm Itlffl®
Washington
Press Service
Tuesday. Jwte 8. .1937.-------6/7/3?
Secretary of the Treasury lorgenthau announced last
evening that the tenders for #50,000,000, or thereabouts,
of 273-day bills, dated June 9, 1937, and maturing Marsh 9,
1938, which sere offered on June 4, were opened at the
Federal Reserve Banks on June ?•
The total amount applied for was 1131,178,000, of which
§50,000,0%) was accepted*

Except for two bids totaling

§35,000, the accepted bids ranged in price from 99*621,
equivalent to a rate of about 0*500 percent per ammw,
to 99*572, equivalent to a rate of about 0*564 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*586
and the average rate is about 0*545 percent per annum on
a bank discount basis*

Returns of corporations submitting balance sheets for 1932, 1933 and 1934, showing number of returns and
assets and liabilities as of the end of the calendar year or at close of fiscal year nearest thereto 1/
(Money'figures in millions of dollars)

...

!
1933

1932

1934
j$jj

1.
1
2
3
4

Number of returns with balance sheets 2!
Assets:
Cash 3/ . ...,.......................
Notes and accounts receivable ......
Inventories ........................
.....--.. .... ........ —----- -=

5

7
8

15,236
35,835
13,597

11,917
75,630

13,571
70,474

19,084 j
90,573

108,553
16,129

104,958
14,535

102,751
14,097 !
,***•■]!

'

Total assets .........

280,083

268,206

Liabilities:
Notes and accounts payable .........
'• -

301,307
.... — i"—.— i
!
j
;
f

20,562

19,362

27,021 !

1
•

10

11
12
13
14
15

410,626 :
1
*
19,961
40,529
14,311
:

15,917
39,564
12,372

Æp

.
9

I
I
■
j
i

......

Investments, tax-exempt 4/ .........
Investments other than tax-exempt ...
Capital assets— Land, buildings,
equipment (less depreciation) .....
Other assets .......................

6

-1
388,564

392,021

!
»
1

Bonded debt and mortgages ......... .
Other liabilities .... ..............
Capital stock— preferred ........ .
Capital stock— common ..............
Surplus and undivided profit .......

’
5/
5/

47,222
78,730
19,076
78,413
45,664

45,883
75,384
18,394
74,088
44,792

]
48,604
84,096
19,976
84,970
48,986

!
î
!
j
!

Total liabilities

1/ See provisions of the Revenue Acts ojf 1932 and 1934 affecting the comparabi 1iiy of statistibal
data from income tax returns olf corporations.
!
j
2/ Excludes returns for inactive corporations and retjurns with fragmentary balance sheet data.
3/ Includes cash in till and deposits ip bank.
t
I
4/ Includes obligations of States and Territories or jminor politicajl subdivision^, securities issued
under the Federal Farm Loan Act, pnd obligations of the Unitejd States and jjts possession^.
5/ Revised.

-j

in 1934, with, the break-up’of the consolidated returns and the
filing of separate returns for each subsidiary, the geographic
distribution of the subsidiary companies differs in many instances
from that of the consolidated returns.

3

separate return is filed by each, of the affiliated corporations
(excepting railroads which may file consolidated returns) and each
of these separate returns is classified on its predominant business,
with the result that many 1934 returns fall in industrial divisions
other than the ones in which they were included in -prior years,
2.

In the consolidated returns there frequently are offset

items commonly referred to as "intercompany eliminations" which, now-

\
ever, do not occur when each company files separate income tax returns»Consequently, items of assets, liabilities, receipts and deductions,
as well as dividend payments, gross income, net income, and tax are
materially affected by the absence of intercompany eliminations in
the tabulations of the 1934 returns, due to the removal of the privi
lege of filing consolidated returns (except by steam and electric
railroads).
3.

The classification of consolidated returns by returns show

ing net income or no net income and by net income or deficit classes is
determined by the composite net amount for the group included in
the consolidated return, whereas, for the separate returns filed for
1934 the classification is based on the net amount on each return.
The same basic distinction obtains in the classification of the
consolidated returns and the separate returns by size of total asset?.
4.

Consolidated returns were frequently filed in States other

than those in whiGh the principal places of business or principal
offices or agencies of the subsidiaries are located.

-

2

-

Consequently,

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Monday, June lU, 1937«

Press Service
No. 10« 50

Secretary of the Treasury Morgenthau today made ■oublie the
fifth in the series of tabulations from the ’’Statistics of Income
for 1934, Part 2," compiled from corporation income and excessprofits tax returns for 1934, prepared under the direction of
Commissioner of Internal Revenue Guy T. Eelvering.
The first of the two tables below presents the corporation
returns for 1934 distributed by total assets classes, and shows
for each group, the various forms of assets and liabilities re
ported on balance sheets submitted with the corporation income
and excess-profits tax returns for 1934.
In the second tabulation, the aggregate for each form of
assets and liabilities is shown for each of the years 1932, 1933
and 1934.
The data for the 193“ returns are not strictly comparable with
those for prior years, for the following reasons:
2.

The consolidated returns, which were necessarily classified

according to the predominant industrial activity of the consolidated
group, embraced subsidiary concerns which frequently were engaged in
industrial activities entirely different from the predominant busi
ness of the consolidated group.

1

Under the Revenue Act of 1934, a

<■»2***
!Phe artist, who lives in New York City, has had wide experience "both as an
easel painter and as a decorator.

He was horn March 18, 1896 in New York City,

lor five years (1910-1915) he studied in Paris with Desvaillieres, Lucien Simon
and others in the Colarossi School and the L*Ecole Des Beaux Arts.

He continued

his studies in 1915 at the Art Students1 League*
He has "been represented in many exhibitions both in this country and Europe
and has held several one-man exhibitions in various parts of the United States,
His work is included in the permanent collections of a number of museums, among
them the Metropolitan Museum, the New York University Gallery of Living Art,
the Duncan Phillips Memorial Gallery, the j i t n e y Museum of American.Art in
New York City and the Ferdinand Howland Collection in Columbus, Ohio,
Mr, Bouche has painted many decorations and is a member of the American
Society of Painters, Sculptors and Gravers and of the Society of Mural Painters,
ooOoo

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, June 9, 1937,
Louis Bouch.4,

Press Service
No. 10-49

New York artist, has been chosen as the winner of a national

competition for a mural painting in the Auditorium of the new Department of the
Interior Building in Washington, D.C., it was announced today by the Section of
Painting and Sculpture of the Procurement Division.

More than three hundred

artists entered the competition, the winner of which will receive $5,500.
Mr . Bouche* s design was given a unanimous verdict by a jury composed of Waddy
Wood, architect of the Interior Building; William Zimmerman of the Department of
\
the Interior; Eugene Savage, mural painter, New York City; Alexander Brook and
Hermon More, painters, and Daniel Catton Rich, Assistant Director of the Art
Institute of Chicago.
The artist* s design, after receiving the jury’s decision, also received the
approval of,Secretary of the Interior Ickes and of Admiral C.J..Peeples, Director o.
Procurement.
The design is for a triptych which will be installed at the back of the
stage in the Interior Department Auditorium.

The two side panels are to be each

4 feet 3 inches wide by 11 feet 8 inches high, while the central section will be
15 feet 4 inches by 11 feet 8 inches high*
Mr. Bouche1s design shows symbols of various bureaus and offices of the
Interior Department below a far-stretching landscape in the Par West with figures
of an Indian and a white man in the lower left-hand corner of the design looking
over the romantic stretch of country which interprets what might be seen in one
of the great western national parks.

FOR IMMEDIATE RELEASE
Tuegflaff, June ^ 1937«
_w

ft

J

Louis Bouche, Hew York a r t i s t , has been
chosen as the winner of a n a tio n a l com petition f o r a mural
p ain tin g in the Auditorium of the new Department of the I n t e r io r
Buildin^^W ashington, D. C ., i t was announced today by the
Section of P a in tin g and Sculpture of the Procurement d iv is io n .
More than three hundred a r t i s t s entered the com petition, the
winner of wnich w i l l re c e iv e $5,500©

Tm^wiibb®
, 1937

ECTION/OK PAINTING AND SCULPTURE
DIVISI
I'MiAiM!/ Ï^PARTMENT, PROG
NATIC^IyCOMIEta/oN F' KR A MURAL
ANNOUNCES TEAT LOUIS bou ch é h a s Won t:
V
n r r a é new iw. t o O R DEPARTMENT BUILDING, WASHINGTON, D.

A National JComvotìfi 1nTf*1*nTT rniirr’i’^jrijn-Mrip in the Auditorium of
— /"—1
1BulYding1
khe new Depar
hks boj#Twon

New York artistALouis Bouche

it was announce*

Section of Painting and Seul

b4 the**

;ure

Over three

Mr. Eouche’s design was given a unanimous verdict by a jury
composed of^Waddy Wood, architect of the Interior Building; William
Zimmerman of the Department of the Interior; Eugene Savage, mural painter,
New York City; Alexander Brook and Hermon More, painters, and Daniel Catton
Rich, Assistant Director of the Art Institute of Chicago.
The artist’s design, after receiving the jury’s decision, also re= k
ceived the approval of ¿¡i^aSBOBttBiipSecretary of the InterioijTand of
C. J, Peoples, Director of Procurement.
The design is for a triptych which will be installed at the back
of the stage in the Interior Department Auditorium.

The two side panels

are to be each 40£$ wide by li^i^high, while the central section will be
l£%£>by l i M ^ h i g h .
Mr. Bouche’s design shows symbols of various bureaus and offices
of the Interior Department below a far-stretching landscape in the Far
West with figures of an Indian and a white man in the lower left-hand
corner of the design looking over the romantic stretch of country which
interprets what might be seen intone of the great western national parks.
i-inon i

lives in New York City, has had

Ll J
wide experience both as an easel painter and as a decorator#
York C

i

t

y

F

o

r

He was bornfin New

five years (1910-1915) he studied in Paris

with Desvaillieres, Lucien Simon and others in the Colarossi School and
the L ’Ecole Des Beaux Arts*

He continued his studies in 1915 at the Art

Students’ League,
He

many ^exhibitions both in this country and Europe

and has held several one-man exhibitions in various parts of the United
States*

His work is included in the permanent collections of a number of

museums among them the Metropolitan Museum, the Hew York University Gallery
of Living Art, the Duncan Phillips Memorial Gallery, the Whitney Museum
of American A r t ^ J e w York City* the Ferdinand Howland Collectioii^Solumbus,

Tv

Ohio*
Mr* Bouche has painted many decorations and is a member of the

i
American Society of Painters, Sculptors and Gravers^and of the Society
of Mural Painters

PAINTING & SCULPTURE

TREASURY DEPARTMENT
P R O C U R E M E N T D IV IS IO N
PUBLIC BUILDINGS BRANCH
IN REPLYING. QUOTE T H E ABOVE SUBJECT. BUILDING. AND THESE LETTERS

DD

WASHINGTON

SA“P&S

1 ^

June 8, 1937

MEMORANDUM TO MR. GASTON

Enclosed is a release on the National Compe'
tition for the mural in the Auditorium of the new
Interior Building

0 ^ r ^ \

r-Ä—

O j¿

f ^ ea—

'À?'

f

ts(e. v?

s L

^

1— '

¿ r

^ L J t ~

/< e ,

'

r e ^ ° ^

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, June 8, 1937,__________
6-7-37,

Press Service
Nc. 10-48

Secretary cf the Treasury Morgenthau announced last evening that
the tenders for $50,000,000, or thereabouts, of 273-day hills, dated
June 9, 1937, and maturing March 9, 1938, which were offered on June 4,
were opened at the Federal Reserve Banks on June 7,
The total amount applied for was $131,178,000, of which $50,000,000
was accepted.

Except for two bids totaling $35,000, the accepted bids

ranged in price from 99,621, equivalent to a rate of about 0,500 percent
per annum, to 99.572, equivalent to a rate of about 0.564 percent per
annum, on a bank discount basis.
the latter price was accepted.

Only part of the amount bid for at
The average price of Treasury bills

to be issued is 99,586 and the.average rate is about 0,545 percent per
annum on a bank discount basis.
ooOoo

ice sheets for 193 ** ^7 total assets classes, showing number of returns,
Returns of corporations subi
assets and liabiliJ December 3 1 , 193**. or at cT°se of fiscal year nearest thereto
nd ■fctttai assets classes in thousands of dollars)________________________
Total Assets Classes
Total

1

2
3
u
5
6
7
fi

Ó
9

Number of returns with balance sheets 1/
Assets:
Cash 2/
Notes and accounts receivable
Inventories
Investments, tax - exempt
Investments other than tax - exempt
Capital assets - Lands, buildings,
equipment (less depreciation)
Other assets
Total assets

10
11
12
13
lU
13
16

Liabilities:
Notes and accounts payable
Bonded debt and mortgages
Other liabilities
Capital stock - preferred
Capital stock - common
Surplus and undivided profits
Less deficit

17

Total liabilities

Under 50

50 to

100 to 2 5 O

25 O to 5 OO

5 OO to 1,000

5

5 3 ,1 3 5

2 3 ,6 7 3

1 3 ,3 3 9

6 9 3,0 70

9 2 2 ,9 71

1,336,013
9 7 2 ,S2H
3H0,3Hl
1,209,235

2,2Hg,7ÓH
1,075,526
599,59H
i ,9 7 1 ,i H i

1 000 to 5 ,0 0 0

£ ,0 0 0 to 10 ,0 0 0

10 ,0 0 0 to
5 0 .000

1 g.Uqq

2 ,3HH

2 ,U n

76i

t, 665 ,7 lH
6 ,2 3 5 ,0 1 5
2,571,011
2,259,d SH
S,Hi7 ,323

1 ,322,666
2,930,753
1 ,1 0 7,9 2 0
i ,i H 3 ,òo o
5.193.52*1

7 ,3 2 7 ,3 2 2
6 /6 0 1 ,0 7 7
2,32H,677
3 ,oiH,oi3
lH,63 h , 230

9 ,922,199
16,933,717
3,831,758
1 1 ,5 1 1 ,2 5 0
57,9H9,363

50,000 and
over

Ul0 ,6 2 6

227,077

1 9 ,9 6 0 ,3 5 7
HO,523,379
lH,3 1 1 ,0 6 3
19,033,771
90,573.299

301,330
960,796
730,233
13,192
I5 5 .OU5

S9
53
3;
2ÌÌ

566,272
1 ,375 ,**32
1 ,065 ,HOI
loHjoH
798,337

1 0 2 ,7 5 1 /U95
lH,0 9 7,20 9

1,H9H,630
376,696

1.77
3**

11,030,370
720 ,H19

H,2 6 0 ,97 Ò
733,253

5,175,137

863,546

lH,093,5 5 I
2,360,343

7,1 5 1 ,**66
939,835

1 6 ,975,**91
2,532,199

U7,7*+2,563
5 ,2 2 2 ,0 7 s

3 0 1 ,3 0 6 ,5 7 7

**.037.529

H,12 j

9 ,230 ,93 H

1 0 ,0 9 6 ,2 13

1 2 ,556,239

33,603,lH7

1 9 ,7 3 9 ,16 H

H9,Ho H,969

153,167,932

2 7 ,020/650
U ó ,6o H,231
¿H,0 9 6 ,Hi5
19.976,09H
SH,970,Oil
Hs,936 ,312
1 2 ,3 H7 ,13o

1 .H9 7.6 2 5
Hi$,966
Hi3,0 2 5
130,IgH
2,3 H2 ,729
H6l,322
1,776,322

1,06
38
20'
2,12
57
77

1,897,75*
1,399.H 37
1,179,701
5 ^3,3 5 1
k,0 b7 , 162
1 ^ 31,652
1 ,293.677

1 ,922,655
1 ,76 *1,099
2,797,5^
927.U03
H, 3 3 6 ,9 1 s
2 ,2 6 3 ,7 H2
1 ,2 0 2 ,16 7

**»937 .H37
5,OS3v 6H5
9 ,2 7 9 ,2 1 5
2 ,9 0 5 ,2 3 7
1 1 ,665,929
7 ,290,59 5
2 ,5 5 3 ,9 5 1

2 ,2 1 5 ,3 7 1
2,99H,186
H,6 7 6 ,133
1 ,H7 H ,926
5 ,5 2 5 ,0 9 3
3.8H7.712
9HH.311

H ,6H2 ,696
7,363,659
1 1 ,9U- ,290
H,o H3,255
1 2 ,355,1511
9.370.09H
1,319,179

7,1 U 3 ,6U 7
2 7 ,0 7 ^ ,2 1 5
5 1 ,59 0 ,5 6 1
9,077,932
3 7 ,666 ,9^2
2 2 ,0 0 6 ,UU5
1,311,356

301,306,577

H,0 3 7 ,5 2 9

H,12|

9 ,2 30 ,93 H

1 2 ,356,239

33,603,iH7

19,739,16 H

H9,Ho H,969

153,167,972

2k

1/ Excludes returns for inactive corporations and returns with fragmentory balanc ?ta
2 / Includes cash in till and deposits in bank
jj>/ Includes obligations of States and Territories or minor political subdivision ies issued under the
Federal Farm Loan Act, and obligations of the United States or its posses?

1,696,573
l,H9H,6H3
1 ,833,602
66 H , 869
3,835, *'-90
1,735,239 •
i,i6 H,2 iH

1 0 ,0 3 6 ,2 .1 -<

XMPOsm OF DOUGLAS FIHf 1 S W HEMLOCK AH9 2 » CEDAR IM'BW&S
mmu the quor* provisions of tee cahadiak m m aoheehbht
During tlm Period January 1 to May #0 « 1957
(Preliminary Figure#)

Customs District

Sawed Timber a Lumber Hot Specially Provi4#4 Fear
Douglas
i ffeatera . ' * Mixed Fir t T o w Fir
Fir
i Hemlock i & Hemlock i & Hemlock
1 (Bd*Ft»)

c m IMPORTS
Par Cant of Quota

1

(»int)...>.

86,187,14«

M l Cedar
Shingles

Lucres]

{ M , Ft,) l
6,039,177

96,909,449
14*64

813,649*
77.6*

4#
80,008
4#
4»
.m
4#
794,871
41
4#
<17
8,018,883
8,810,618
4#
4#
m
44

11,450
417,619
4,177,777
3,877,348
4#
997,434
1,509,976
89,403
4,796,348
491770
18,014,993
S,810,615
94,448
49
414,440
6,091,887

47,445
394,004
97,038
14,366
2,540
8,358
4#
1,750
843
6,450
4P
2,234
408
48,950
294,850

1 M QfflJM,
iafffcl#
Dakota
Duluth & Superior
Galveston
Hawaii
Lee Angelea
Maine & 1* H«
Massachusetts
Michigan
lav York
Philadelphia
St* Lawrence
San Francisco
Vermont
Washington

11,450
t»,est
3,455,799
8,901,277
9*
597,434
490,978
89,403
8,351,128
1,410
9,894,718
m
94,648
•#
414,440
8,7^,488

c#
93,974
5 m ,010
776,036
sa
m ■
888,7*7
#9
8,845,814
48,340
49
'«#
4*
4»
4*
m s ,149

6

* Executive Order, dated March 13, 1937, limit# Importations of red cedar shingles
free Canada to 1,048,862 squares, during first six months of calendar year 1987«

(Prepared W

Division of statistics «id Research, Bureau of Customs)

the Cerami eeloaer of Cuetome today asmouaesd preliminary
figure» for imports of Douglas fir» «astern hemlock and rod sedar

imports hear to the totals allowable under the quota provisions,
as follows}

m u

a m i
(Attention

tmm

of

m.

’Urne»

MP,

S d » - 8m

k

BW,

fttmmxrr BM g,}

ammt
itattM M Bor in M U tl» m isase « tabulation shoeing

preliminary figu res t w importa of 2 *u g l« f l

m a ta n hamloak

mä * • * w t e shingles, under the quota protri alona o f the Casadlas

frodo ¿«recaent , as of «ay 88, im p .
Sfcae the release baa bam tataeograpiied, piarne ha»
forearded to U l w

«i

6/

Henry,

B o o b 418, Washington Solimi«.

‘IMPORTS OF DOUGLAS FIR, WESTERN HEMLOCK AND RED CEDAR SHINGLES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to May 29, 1957
(Preliminary Figures)

Customs District

TOTAL IMPORTS
Per Cent of Quota
PROM CANADA
Alaska
BUfffelo
Dakota
Duluth & Superior
Galveston
Hawaii
Los Angeles
Maine & N. H.
Massachusetts
Michigan
New York
Philadelphia
St, Lawrence
San Francisco
Vermont
Washington

: Sawed Timber & Lumber Not
: -Douglas
: “Western :
Hemlock :
: Fir
:
(Bd.Ft.) :
: (Bd.Ft.) :

Specially
-Mixed Fir
& Hemlock
(Bd. Ft.)

Provided For
: Total Fir
: & Hemlock
: (Bd. Ft.)'

Red Cedar
Shingles
(Squares)

26,187,149

4,287,123

6,035,177

36,509,449
14.6$

813,649*
77 M

11,450
274,031
3,638,759
2,501,277
*
597,434
460,578
29,603
2,551,128
1,410
9,896,715
«
54,642
414,440
5,755,682

93,574
539,018
776,085
288,727
2,245,214
48,360
'296,145

50,008
756,271
3,018,283
2,210,615
«
••

11,450
417,613
4,177,777
3,277,362
597,434
1,505,576
29,603
4,796,342
49*770
12,914,998
2,210,615
54,642
414,440
6,051,827

5
47,465
334,004
57,032
14,366
2,560
2,338
1,750
843
6,650
2,234
602
48,950
294,850

* Executive Order, dated March 13, 1937, limits importations of red cedar shingles
from Canada to 1, 048,262 squares, during first six months of calendar year 1937.

(Prepared by Division of Statistics and Research, Bureau of Customs)

JUN 9 - 1937

The Commissioner of Customs today announced preliminary
figures for imports of Douglas fir, Western hemlock and red cedar
shingles, under the quota provisions of the Canadian Trade
Agreement, as of May 29, 1937, and the percentage that such
imports bear to the totals allowable under the quota provisions,
as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

JUN 9 -1937

Ml. GASTON

(Attention of Mr, Schwarz - Room 289, Treasury Bldg.)
FROM MR. BENMR:
There is attached for immediate release a tabulation showing
preliminary figures for imports of Douglas fir, Western hemlock
and red cedar shingles, under the quota provisions of the Canadian
Trade Agreement, as of May 29, 1937,
When the release has been mimeographed, please have 110 copies
forwarded to Miss Henry, Room 415, Washington Building.

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, June 9,. 1937,

Press Service
No. 10-51

The Commissioner of Customs today announced preliminary figures for imports
of Douglas fir, Western hemlock and red cedar shingles, under the quota provisions
of the Canadian Trade Agreement, for the period January 1 to May 29, 1937, and the
percentage that such imports "bear to the totals allowable under the quota provi—
sions, as follows!

Customs District

TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Galveston
Hawaii
Los Angeles
Maine & N.H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Francisco
Vermont
Washington

Sawed Timber & Lumber Not Specially Provided For:
Red Cedar
Total Fir
Western
Mixed Fir
Douglas
Shingles
& Hemlock
& Hemlock
Hemlock
Fir
(Sauares)
(Bd.Ft.)
(Bd.Ft.')
(Bd.Ft.)
(Bd.Ft.) ;
26,187,149
4,287,123
6,035,177
36,509,449
___ _________________________ '
___________ 14, 6^

11,450
274,031
3,638,759
2,501,277
- - - - —
597,434
460,578
29,603
2,551,128
1,410
9,896,715
- _______
54,642
-----414,440- 5,755,682

---..----------------93,574
50,008
539,018- --------776,085
- - - - -----288,727
756,271
------ ------------2,245,214
48,360
----------------3,018,283
_________
2,210,615
- - - - - - — — ---- — —
- - - - - - -— - - 296,145
- - - - -

11,450
417,613
4,177,777
3,277,362
- - - - 597,434
1,505,576
29,603
4,796,342
49,770
12,914,998
2,210,615
54,642
- - - - 414,440
6,051,827

813,649*
77.6fo

5
47,465
334,004
57,032
14,366
2,560
2,338
1,750
843
6,650
2,234
602
48,950
294,850

* Executive Order, dated March 13, 1937, limits importations of red cedar shingles
from Canada to 1,048,262 squares, during first six months of calendar year 1937.
ooOoo

IMPORTS OP 01STILLED LlftUORS AND WINES AND DUTIES COLLECTED THEREON
____________________ APRIL 1937
___________________
t
1st 10 Months Fiscal YtJ
:
March » April
:
April
»
1937
‘
*» 7 __ L - 1936J
>....... 1537
»
»36
DISTILLED LiauORS (Proof Gallons)»
Stock in Customs Bonded faro3*702,586
3**10*08$ 3*832*987
houses at beginning
3*522,6441
3*741*893
Total Imports (Pros and Dutiable) 1*033*549 1*420,648
831*345
13*865*299
8*191,18(1
17,567,885
4,943,634
Available for Consumption
4,573,238
5,253,635
ll»7l3, 8301
968,102
13*780,490
1,328,000
1,244,152
Entered into Consumption (a)
7,927,6951
89,097
9,286
P
■■■!■ IS.... r" * * f ‘ finfftody _
3| 384 190,2851
15,550
Stook in Customs Bonded faro3*698,298
3,698,293
3*910,085
3 * 595*850
houses at end
3*595,850
STILL WINES (Liquid Gallons)»
Stook in Customs Bonded farohouses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Expiated from {fusions T^sYiHSy*“*
Stook in Customs Bonded Warehouses at end
SPARKLING WINES (Liquid Gallons):
Stook in Customs Bonded Warehouses at beginning
Total Imports (Free and Dutiable)
Available for Consumption
Entered into Consumption (a)
Exported f rom Customs custody
Stook in Customs Bonded Warehouses at end

1,845,075

252,232
1,6 2 9

1,068,108
391,242
1,459*350
267,114
159

1,204,062

7,548

1,637*508
2,537*589
4,175,097
2 , 9 6 3 ,16 1
7,874

1*540,948
2,326,222
3*867,170
2,204,001
25,496 !

1,192,077

1 , 6 3 7,6 73

1 , 204,062

1*637,673

18 3 ,3 18

168,692

2 3 2 ,74 1

2 16 ,9 19

38,907
222,22$
26,437
24

40,418

1 4 ,7 7 1
2 4 7 ,5 12
1 5 ,1 5 2

479*143

288,091
195,232

1,192,077
265,846
1,457,923

195,764

2 0 9 ,110

25,773
19
183,318

1 , 6 14 ,4 5 4
2 30 ,621
199*854

696,062

1*365

499,811
487

483,323
243,354
8,974

230,995

195*764

230,995

0

CO
00
—
to

DUTIES COLLECTED ON»
D istilled Liquors
$ 3,057,891 ? 3 , 2 6 5 ,3 12 $ 2 , 494,904 $ 33,801,442 $ 28,687,127
S t i ll Wines
226,062
244,611
2 49,22 1
2,651,424
2,745,217
Sparkling Wines
75,840
1 , 441,296
79.U3
1*499,277
Total Duties Colleeted on Liquors 3,363,102
32 , 873,640
37*952,143
2,833*045
3,585,763
Total Duties Colleeted on Other
Commodities
42,889,061 48,916,865 29 , 39 2 ,6 0 7
360,437,218 2 91 , 548,523
TOTAL DUTIES COLLECTED
$46,2$2,l63 $52,502,628 932 , 225,652 $398,389*361 $324 , 422,163
Percent Colleeted on Liquors
6.8#
7*358
8«8#
10.1$
9*5#
(a)

Including withdrawals for ship supplies and diplomatie use*
(Prepared by Division of S ta tisties and Researoh, Bureau of Customs)

Sta

OFFICE OF THE COMMISSIONER OF CUSTOMS

June 9, 1937

TO MR. GASTON:
FROM MR. BENNER.

There is transmitted herewith a statement showing
imports of distilled liquors and wines, and duties col
lected thereon, covering the month of April 1936 and 1937
and the first ten months of the fiscal years 1936 and 1937,
which may he suitable for press release.

Enclosure.

TREASURY DEPARTMENT
Washington
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 ,
Press Service
Friday, June 11. 1937.__________
No. 10-52
6—10—37«
Commissioner cf Customs James H. Moyle today issued the following statement
shewing imports of distilled liquors and wines, and duties collected thereon, cover
ihg the mcnthtof April 1936 and 1937 and the first ten months cf the fiscal years
1936 and 1937»
April
1937

March
1937

April
1936

1st 10 months Piseal
Year 1937
1936

3,832,987

3,741,893

3,702,586

3,<522,644

1,420,648

831,345

13,865,299

8,191,186

5,253,635

4,573,238

1,328,000

968,102

13,780,490

7,927,695

3,910,085

3,595,850

3,698,298

3,595,850

1,068,108

1,614,454

1,637,508 1,540,948

391,242

230,621

2,537,589 2,326,222

1,459,350

1,845,075

4,175,097 3,867,170

267,114

199,854

2,963,161 2,204,001

1,192,077

1,637,673

1,204,062 1,637,673

di s t i l l e d l i q u o r s

(proof Gallons)
Stock in Customs..
'Bcnded Warehous es
.at beginning..... 3,910,085
Tdtal Imports (Pree
and dutiable).... 1,033,549
Available for Con
sumption...... .
4,943,634
Entered into Con
sumption (a)....
1,244,152
Stock in Customs
Bonded Warehouses
at end...........
3,698,298
STILL WINES
(Liquid Gallons)
Stock in Customs
Bended Warehouses
at beginning..... 1,192,077
Total Imports (Pree
and dutiable)....
265,846
Available for Consump tion....... . 1,457,923
Entered into Con
sumption (a).....
252,232
Stock in Customs
Bended Warehouses
at end.........
1,204,062
SPARKLING WINES
(Liquid Gallons)
Stock in Customs.
Bended Warehcuses
at beginning.....
183,318
Total Imports (Eree
and dutiable)...
38,907
Available for Con
sumption...... f
222,225
Entered into Con
sumption (a),.,.
26,437
Stock in Customs
Bended Warehcuses
at end.........
195,764
PUTIES COLLECTED ON:
Liquors $3,057,891
gtill Wines
226,062
lotlFtiiSf/jgfi
•79..149
.ecteT
on liquors
» W O O , ¿ 0 2
3,363,102

17,567,885 11,713,830

168,692

216,919

288,091

40,418

479,143

195,232

209,110

696,062

483,323

25,773

499,811

243,354

195.764

230.995

183.318

230.995

$3,265,312
$2,494,904
244,611
249,221
75,840 ______88 j920

$33,801,442$28,687,127
2 651 424 2 745|217
1.499.277 1,441.296

\ p O ,O O D , f D O
$$2,833,045
<! f O O t O , U t :0
i $37,952,143$32,873,640
por
$3,585,763
nc-uding withdrawals for ship supplies and diplomatic use.

IMPQRTOTGHS ÖF CATOS, CREAM A8D CERTXFUD M
P0TAT8ES
TJKIMl IBS QUOTA J^ROYISIGHS CF 3BB OANADZAK tRAJB AGSBSSMSHT
Prellainary Figur«® ae of May 29, 1937

$
* e i r a » 11
i i m r m 173#

1
TOTAL IMPORTS

PROM 0AH4DA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawaii
M s » Je S. B.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho

(Heed)

41,080
79,1%
m
7,101
4»
2,943
I
m
64

Oregon

2
B8f
914
74
19,433
167

Philadelphia
Rochester
8t» Lawrence
Vermont
Virginier
Washington
Total fro^i Canada

7,383
1,425
■m
748
40*535

FROM MEXICO
Arizona
San Antonio
Sen Blego
Total fron Maxies

275
14
229
9
525

FROH OT T O QQGimrSB
Puerto Rlee

es

IX Paso

*Bee. X,I936.tö
1 to
S CATOS f 00;
I OB MOBS
jL^JüaAi
98,397
81.9,

m
si.in
x,öli
4,394
278
.US
30
73
m
3,944
35,394
751
1,708
489
298
es
332

XX9

I DAXRY Ö ( M
iföf# OB M M

g

(Head)
2,443
12*2$

es

67
•SS

18
3

5,934
9,145
4,558
8*761
28,I S T “

es

tWHT» OR IRISH
i SSED POTATOÖ
i (Gal.)
(poundc}
34,531
2.3$

5
6
#8
82
es

166

3

4ll

es-

33

es

es

es

es

SS

48

es

296
1,148
698
2,443 '

es
es
m
es
es

m

35,758,429
___
79»tH

36,450

es

es

m

5,522
73,999 '

I
i CREAM

8
34,159
mm

34,262

2,000
5,061,242
242,360
3,570,931
1,437,160

28,713,463
m
382,73g
81,855
46,000
227,100
8,907,626
35,755,429

«Sr
SS

es
es

269

(yi^pkred hy ■Me4aii
o »'nof>
--(^<L»41atlaa HMftA»Iteseaeehy' BüFTOtTüf '‘Cuettgüs*^»

#
•
m
st
#

«*

Table 1 . (Money figures in thousands of dollars)
(Returns filed to December 31, 1936)
------------

.'.ÿ;-“'—

Total
Industrial groups

Mining and quarrying

to 0#J

¿ J/fi

IS 4/f

4

= J L .- J

M_ _ _ 1

JSfffA

43.889

I33A33IÌ

sa

j

---- — ,

..... , -,

U- ■

¿ 634.

tèi. q j A

Number of
returns show-1;
ing no Income
data— inact ive
corporations

Returns sbowing no net income

i

u

AZ

^

.

|Returns show! Lg net income

] number of
returns

|Agriculture and related industries

J'~— .............. t

^

¿ /f A

4

á p 3

AZfA/l

2/

ñ3o U r

f/80.

4oz5f\
/zfZ8sé

Manufacturing;
Food and kindred Droducts

13 3 5 4

S J f É .—

^ lf.—

-311

4a j u U
_/ y g y m

-----

4

4

/ff?f?3z&

ssf/r

Liquors and beverages (alcoholic and
nonalcoholic)

3 ¿S3

/ 078 f 47

Tobacco products

3&J

/ O f f f 84

fOSf/O,
f f 4/f\

I S è 33

S ? £ h 4 è /j.

ifozss

/ 3 è fo
A3 4/3.

Av/.g

M ÌSfsÀ

jtfUià

0553

Textiles and their products
Leather and its manufactures

L___

Rubber products

¿3Z\

Forest products

¿ ?43‘

¿3ïÀ

Paper, pulp and products

A

ji

3!

850

/4SÍ3

44

ifà

j

A 4 44 A

Uf8_B
3a s W

¿JfSÂ
4 4¿S~

¿Z 4M

33 à 8A

/ AA A

£04834-4
ZZ8AAf

Zoo , 8 À
f 00 f

//è 8 8 8 T

S~ 44Z

/A 88/\

14 èù 4

/¿ 3561

Z/U

/3 f M

/039

H-141 \
SA A

Z8&

4 8 4/f i

I 583f f p
3¿ L

3

¿7*7

S3 4¿o\
33 SóO

Printing, publishing, and allied
industries__________ _______

JtSfÂ _ / 4U z S f

Chemicals and allied products

f t m

Stone, clay and glass products

3 <fU\

Metal and its products

3 /S0.

4 5 4 4 Í3 Á

/ 4 5Z

f ê f If /,

■¿-¿A R _ 44 70 A
3¿f'¿0¡\

80350

88 è m

lAlf4

8 4 z 5 ~ /o ¿ 3 7 f è z

8 7 O 435,

U f ¿8/

A /f f. / 083, 38A

708 8f7:

W

|

45ffo\

4348

S/Aff

470M / z M
8 / f è m 1* 7 8 7 7 ,

ASZf-

/o f o n

A 8J A

1/4 05/!

780

¿ 4 8 43.0

A fe o 3/4

3 I/7 0 .
/èf/08

Ifoj
'7-f fA

...30.43.il

70,

Manufacturing not elsewhere
classified _ _ _ _ _

______

Total manufacturing

37 f4 f

Construction

3 5 Z Z J 4-33

n Usé

4&4Z

¿ 843/1

Trade

tòSfS1

14 4 3 8 A

sj

¿ p ii —

t

è 53074%

770

//Z5B
330-57

f Z J ù 8f

361338

Sèfè.

83 ¿75^/0, 4733¿Z

0 m

53J S S f

17

isré/\

/S44f K 354 fOf

A 4 J 0 0 4 rk

'SO

Transportation and other public utili
ties Jfj

888 1 m

Uè ¿ 3.5

//

/O ? è 17 j

¿4 on

/4~5A9
870/ d

501/53/
f f 577O f3

S 5 f/ fg \
So / 3 S S ~

30 A f /

/ 904-0 50

A è 8 ¿3f

3 0 0 4 5;
4545

Service— Professional, amusements,
hotels, etc.______________________

8¿558Í

¿AJ355

_
¿
0
\______ 7A'

8QZ

/

/8 A -U

I

4 9 ! A.

Finance— Banking, insurance, real
estate, holding companies, stock and

bond brokers, etc.
Nature of business not given

143 8/A

3 é ¿ / 8¿/\

r4fU

A

è offè A

83.72,8

sèi

5335/Aa

/04/4À

83

li

Hk m
Grand total

9 A é/f

f8f/

f / ¿8
f f S f /0 S8f8C é f f
/Sèo W Ê

37AO

f/

/8 f O S
/3Z3?

l
'mm
C>7 ! f A

3 /5,858

4
/
f
\
^ 3 / 8 8 8

&è $¿4/8 5

Sè

5

■¡Il
Summary for preceding yearST
1934
X

1933

_______________

528 8f 8

! 4 f IO/; è A f u

(fojtÉSA

/0 4 78è 4 è 7SX3èè

S08 U 0

•82-é4Ù 3/

5/¿4of¡
5 / 8 f3 0

SO f 4 3 0

58? 3J 5,

7 5 4

A 485972

455
43Ò07/&

fè>73

. 4/L 093Ì

fO f f i 3
Z* /83,//3Ì
485570
f f 5 8 f8 S A OS/ 0 3 S 3 é8 3 3 è8
3pff5
A ZI 4 x é f 8 f S é / 4 f f è 4 Z 8 8 / J
f u 704
A L f 430 /3.4 é 3 ì j f 2. ti ¿558801 / t p 4 3 U
/ 184143i

A à s f Æ A s J A Â Æ .

‘t'fS’oòA

SJ

A Sf
8m
lliS 3 3 8
à
-4
3
l
W8Ä
A S Z / JS f-H 8 032 //fi f è p m c A
A S A 33 f /!3 á fA C 8 3 f S 8 3 ¿ 8 t f

W

4 f 8/ 03iJ\

S f o f 4.

337 Q S ¿ 3L U fo 0 S S

553138f

S f ASÀ

3èfA$r

;

f 7 f é ¿ 8 f:

S U 7SA

•283 800,

SS

è 770f / à

Sèfoc\

708

A 4 ! ¿tí

4 è 4877

If3 4

/8 è S f t ; 3 0 f 8 f f t f

Af/4 /£?

S3 4/S f

/f4 ¿ A 8 ¿/£ 5 4 /l f 8f. .

A 3 fé

SAJ&U

A 4 7 /f 3 f
A / é S f/o I

4 f3 s à

Sfè 098

3 3 4 7 0 3 ,,

4 z .3Qé ¿
£85570

3f 8ff/À
7 //

/

LJM JJtÉ.

Jf

4 7 3 7 5 7 7 5

/ /30èf41
/
/

I703

/fizéZÈ

SSyoàm

et)

et)

For general explanations, see text.
Gross income corresponds to total income as repo Hied on face of ¡return plus "jfcost of goods sold" and "cos| of other operations".
9& ■retuwi)»has been deducted from gross income, so thaf gross income Sine ludes the same items as |.n prior yeardl*

-.I%1£.

. .. --- ----1..... ........ -1-.—

Excludes dividends received

on st°cl|

—.—-1........... ..

I •

I

Interest received on Liberty ¡Bonds, etc. (item 11 on faceí >f Ifit d#V ;

-. I ........... -—X—¿j—-------- 1—

of domestic lorporations. J

Includes excess-profits tax liability on returns with no net income amountinglto $19,089 for 1935 returnsl and $37,540 jpor 1934 returis.
An exceajs-profits tax occurs on certain
returns with no net income ¡due to the crédit for interest received oi certain obligations of thejUnited States and its instripaentalities.
income
i É É É M Mjl
rvd
iii
Mch
É ^is
B allovied
" " m against net
I ine
in the computation of the income tax, noi being allowed against net income in ftiie computation oflthe excess-pr|ofits tax (seefarticle 1(d) iôf Treasury Décision 4469 fRegulations
relating to the excess-profits tax imposed on Section |02 of the ^vfnue Act of 19p4".)

v,v.

Revised figures#
HI
--------------------- 1---- ----- j
]
The number of inactive corporations fiis included in the number of returns wLth jno net income!

I

1

\J

f

.

Baturas of corporations submitting balance sheets fo r 1934 by to ta l assets c la ss e s, shoeing number of returns,
assets and l i a b i l i t i e s as of December 31, 1934, or at close of f i s c a l year nearest thereto

If

»

(Money figures and to ta l assets classes in thousands of dollars)_____________________________ _
Total Asse s Classes

!

Total
: = =

1 Number of returns with balance sheets 1/

■' I

f!0

Under 50

■..'■UM.wlfr ,l"

|

,1 ■Vi, i- .TT-.Tir

|.

U(s>\

113

o u i

*57 j

?of

$5f j

to

JO

Jj 100

100

to

250

1

250 to 500

j!

500 to 1,000 ill,000 to 5,000 ¡ 5,000 to 10,004

50,000 and

1 0 ,0 0 0 t o

50,000

over

.................................

5i

57 ¿ y d f

¿1 n n

H 2*1 \

" fi f f 1

-ï h Â

7il

X iff 1

Assets*

/f

Cash 2j
Notes and

jC

a c c o u n ts x e c e Â Y a h le .

5 -rf

m

I

Inventories

fi( Z(1

6LÏ J

Investments, tax - exempt j /

f<f 6Ï3

77*

Investments other than tax - exempt

Ì0

573

172

ILO, llL i

S

2111

¿i* f f d l

730 2 j A
/*

11A

US

O fA

5 U ¿724
/ l ò f if 3 A

Z o TÌ

olO I

M U

!

li* ï

7<Jf\

7//

S d ìJ

lit z*i\
3i °

Lius. c u A

I ¿-Of ¿ 3 f t

if

Total assets

on

iof\

3o [ 2ûlp 57Î

$7L> y

i odi sifì
1
J

7io

ifî

S ff

S ^ fl

X

ÄS?

(,ïf\

I

iff]

1

if I f

3z Û

S

I

77/

2

IÆ JX Û

lf1
Lri:
f IXO fff\ K f

3}0

!
Ui

h $5(0

¡ô ù Jb ¿2/3

m

.-

!fd

333

¿¿¿A

3 i f ¿7 7 Ï

I

I

I 2
7/71. 3.

3W

I

4

3 0 i f «/3| // sn ssa ! 5
jf b if x3o\ s ’! f f f
I 6

ooo\

I

I

i kûX rt,.u| li pii

(73 S l A
II

1

sfiX

A

3i0

23fi

3Î toi

7

H1

.H

Ilv 1
| Ü | |

U
¡1
b

1 pfì 153Ì

¿ , 5 7 1 : 011 1 f ifij

733 ¿53

f/li

3X3

s îh

1

equipment (le ss depreciation)

I

I qu

W |

Capital assets - Lands, bu ild in gs,

Other assets

1 U S ?if-l

f3l\

J J l k ... -Q l i \ __ ir

S î ! (,0Ï|)j ! o i S f o t 1
& U à

fit

rsÀ

531

a

7 Î1 P Al
j

m

fl f o f j i l

H
L :
B M

;

112

0?$

8

¡S3 i k f p A

9

S

Liab ilities*
10 |

Csc\

Notes and accounts payable

3 7 0 P-0

Bonded debt and mortgages

fl

(»cf Zî{\

i fi 7 U>\

Other l i a b i l i t i e s

if 0f& tflb\

fld 6151

Capital stock - preferred

\lù /lf
If
I P Off
%—
L
to —
o oBq.
n
2 241 7a?
—O
m
«f
.111»^
1I1f
^—
^
tfw

Capital stock - common___________
Surplus aru? undivided p r o fits

i% fïC 3 H

Less d e fic it

U

iff

/ W°

LsS"

f pi

f7 3flp
S

1 311 f*7

1

1 v>f

011

S

/ m

/ Î 3 3UÂ

A

Sîf

f 3.71 Z t S

f

X

/ f7f fAi

a&f

5fï

lot

U f

SSI

U At»1 IbL __ 3 U S

ni
S 7010

¡Ai Ì

j I t i bs1\

1

lof

f(e! Ï 1 X

A 11 f

/ ¿7^ 51$

su

2

y luf l

/ 777 fsî

n i if A

776 o o f

U1

?X3 f û ?

/ J 3 S 331J

A iti

/ 2?d

! p f âtf

1 l o i /¿7

bll

1ÛSTX31
US?-

1 AI0 SfS [

7,fi

J Ì21 (s5l

olì

LL

H- 3iU. I

fio

fil

2 ¿/S' 3 7 /]

idi

/ 6U

1fff

A

ßt"

S5

Lft

10

A] 631 A / S

11

7 Hî

12
frf a? 0 j1 5f 5<jô S U
• i ‘!%ï .
1 633 JÎ3if 0 fi ASS''

//

bit m

U

£_£a£j}$L
3

L?

îf] j
J ff 3 H

13

j S £ 154- .37 bit J fi- L m _

J 310 Off
/ an

l x ool*
/

3u

îsb

15
i6

i1 1

jËfy]■
Total l i a b i l i t i e s

17

3 of 3ûù s n

ifoi7 Sif ;

i

l u f i?

f Aie p f

/o

0?(* 213

. ¡1. ÎSÎ 131 ; 32 ¿,05 Ifî

*

! l/

j

2/
l_2/

U

711 P f

f l f if V-1
1 I

Excludes returns fo r inactive corporations and returns with ¡fragment ory balance sheet data

11 ""

7

----- -

1

fJ

Includes cash in t i l l and deposits in bank j
Includes obligations o f States and T e rrito rie s or minor p o lit ic a l eubdivisiojis, secu rities issued under the

fi

Federal Farm Loan A c t, and obligations | f the United States or i t s possessions.

a

«

/SJ ft 7 p v
1 17

Returns of corporations submitting balance sheets for 1932, 1933 and 1934, showing number of returns and ^
assets and liabilities as of the end pf the calendar year or at close of fiscal year nearest thereto —
(Money figures in millions of dollars)

■
\
__ ___.
.__.
' 2 /
Number of returns with balance sheets — f

1934

1933

1932

—
— I
â f & 02,/I

=+

~= ............. ■' .. f =

U

‘H O

3?i 5 U K

Assets:

Notes gnd accounts receivable*•••••••1

SJ

Inventories •

IS, 373$

LA S l j .

u V7\

/3 â j n

|

|5

Investments, tax-exempt

|b

Inve stments other than tax*exempt* • ••

7

Capital assets— Land, buildings,

.......... •

5
/qogi/x

p ir n

J 5 ’i30\

equipment (less depreciation)•«••8

/‘¡ f i r

/5~SM

/sf/A

Cash «5/#.... ••••••••••#••••••••••••• I

I
/OS' S S 3 1

i t '
/

/

/C

Other assets*....................... •I___

¿f?00S3\

Total assets............. .

J

Û/L

30/ 3 0 ^

Liabilities:
110

Notes and accounts payable•«•••••..••I

ill T

Bonded debt and mortgages............ | ^J*7M

12

Other liabilities...............

13

Capital stock— preferred............

14

Capital stock— common*•*..«..•••••*•#|

p

15 ;

Surplus and undivided profit**..•••••!

‘£ £ U é ___

¿LO SLcì\

/% ¿ t é
Ÿ s r m

4$ Com

IJSJ301

V

16

Less deficit****••#•••••••••#••••••*

17

Total liabilities......... I
I

i-

Q f £\

j(j OjCÏ
pog-^

7131

j s?A
•

I

‘j i p

w y p i

I

L
p
it

< Z £ ? £ O Ù ____
..=ST S = = =
I!

8

I

I!

1/

See provisions of the Revenue Acts j>f 1932 and 1 * 4 affecting tjjie comparability of statistical
data from income tax returns pf corporations#

2/

Exclude,

3/

Includes cash

y

Include, obligations of State, and »territories W minor polit i ^ l aubdiTisloj., s* ^ * * ° sj*s3^?dunder the Federal Farm Loan -Apt, and obligations of the ijjiited Staves

5/

Revised*

return, for inactive corporations and returns with fragmentary halaijee sheet data!
in

till and deposits

in bank*

I

I f

■¡qbpa %}1 $

s

I

I ■

TREASURY DEPARTMENT
Washington

FOR IMEDIATE RELEASE
Tuesday, June 15, 1937*

Press Service
No.* 10-57

Net market purchases of Government securities for Treasury in
vestment accounts for the calendar month of May, 1937, amounted to
$3,853,550, Secretary Morgenthau announced today.

oOo-

T REASURY D E P A R T M E N T
O F F IC E O F T H E S E C R E T A R Y
C O M M IS S IO N E R
ACCOUNTS A N D

OF

D E P O S IT S

W A S H I N G T O N

June 7, 1937

TO MR. GASTON:

During the month, of May, 1937, the
following market transactions took place in
Government securities for investment account
Total purchases . .....

$ 3,853,550

Total sales ....
Net purchases ... $ 3,853,550

i j d

u

TREASURY DEPARTMENT
Washington

Press Service
No. 10-56

EOS RELEASE, MORNING NETS PAPERS,
Tuesday. June 15. 1937._______
6/14/3?.

Secretary of the Treasury Morgenthau announced last evening
that the tenders for $50,000,000, or thereabouts, of 273-day hills,
dated June 16, 1937, and maturing March 16, 1938, which were offered

on

June 11, were opened at the Federal Reserve hanks on June 14.
The total amount applied for was $140,238,000, of which

$60,045,000 was accepted.

The accepted hids ranged in price from

99.621, equivalent to a rate of about 0.500 percent per annum, to
99.545, equivalent to a rate of 0.600 percent per annum, on a hank
discount basis.
was accepted.

Only part of the amount hid for at the latter price
The average price of Treasury hills to he issued is

99.566 and the average rate is about 0.572 percent per annum on a
hank discount basis.

oOc-

TREASURY DgPAOTENT
WASHINGTON

FOR RELEASE, HOMING NEWSPAPERS

T u e s d a y , J a n e 15. 193? . _ _ _ _ _ _ _

Press Serri
/ £j - S '4*

Secretary of the Treasury Morgenthau announced
last evening that the tenders for f50,000,000, or there
about s, of 273-day bills, dated June IS, 1937, and matur
ing March 16, 1938, which were offered on June 11, were
opened at the Federal Reserve banks on June 14»
The total amount applied for was $140,238,000
of which $50,045,000 was accepted*

The accepted bids

ranged in price from 99*621, equivalent to a rate of
about 0*500 percent per annua, to 99*545, equivalent
to a rate of 0*600 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*566 and the average rate is about
0*572 percent per annum on a bank discount basis*

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE
Friday, June 11, 1937

Press Service
Ho. 10-55

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, during the period
January 1 to May 29, 1937, and under the Cordage Act of 1935, during the period
May 1 to 29, 1937, also the percentages that such imports hear to the totals
allowable under the quotas, as follows:
: May 1 to May 29,
1937
:
CORDAGE
:
(pounds )
:

January 1 to May 29, 1937
; REFIHED : UNREFINED
SUGAR
î COCOHUT OIL :
SUGAR
:
: (Pounds) : (Pounds)
:
(Pounds)
:
••

Customs District

TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
Hew Orleans
Hew York
Oregon
Philadelphia
Puerto Rico
St* Louis
San Francisco
Virginia
Washington

^ 134,995,459
30.1$

59,911,523 841,520,926
47.0$
53.5$
l -,

1,343,974
669,700
14,903,130
«
24,874,154
76,432,382
1,099,860 •
564,580
15,088,724
225
18,730

13,683,863
7,677,199
1,861,844
36,688,617

8,216
52,375,143
8,950,044
219,433,476
270,348,247
195,217
258,606,001
-

~
31,604,582
-

1,069,897
17.8$
130,066
41,205
46,222
63,054
145,256
1,962
264,516
115,417
7,015
40,156
215,028
-

St a

OFFICE OF THE COMMISSIONER OF CUSTOMS

JUN11 ^37

MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Bldg.)
FROM MR. BENNER:
There is attached a tabulation for immediate release showing
preliminary figures for imports of commodities coming into the
TMited States from the Philippine Islands, under the quota pro
visions of the Philippine Independence Act and the Cordage Act of
1935, as of May 29, 193?♦
When this tabulation has been mimeographed, please have 80
copies forwarded to Miss Henry, Room 415, Washington Building.

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, during the period January 1 to May 29, 1937, and
under the Cordage Act of 1935, during the period May 1 to 29, 1937,
also the percentages 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 AND CORDAGE ACT OF 1935
Preliminary Figures, as of May 29, 1937

Customs District

TOTAL IMPORTS
jPer Cent of Quota
Chicago
Colorado
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
St. Louis
San Francisco .
Virginia
Washington

January
•
•
: COCONUT UIL
(Pounds)
i

1 to May 29, 1937
: REFINED : UNREFINED
SUGAR
: SUGAR
:
: (Pounds) ; (Pounds)

134,995,459
30.1%

59,911,523
53.5%

mm

tm

1,343,974
069,700
14,903,130
24,874,154
76,432,382
1,099,860
564,580
15,088,724
225
18,730

: . ,■■
/'?" ■

13,683,863
W
-

7,677,199
-

1,861,844
36,688,617

i
:
:
:

841,520,926
47.0%
—
8,216
52,375,143
8,950,044
219,433,476
270,348,247
195,217
258,606,001
31,604,582
-

/ :u , ‘i

j.

,.Vi

May 1 to May 29,
1937
CORDAGE
(Pounds)
1,069,897
17.8%
130,066
41,205
46,222
63,054
—
145,256
1,962
264,516
115,417
7,015
40,156
215,028
—

' ' ■" ‘

vv / -

(Prepared by Division of Statistics and Research, .bureau or customs}

iSSFO K tsW O
C
f RO« t m PHXLXPP1ÄÄS UfámH QJJöfA
PMÖ7XSIÖHS O À P M m P P ^ I ötDSFINDE80l£ AUT ÀKi> UOlfUAüJS ÀOT DF 1958

V ■/

V 7 L ^ \ JL V /

Piwi^miafery F i g u r i / « » òf May 29, 193?

Customs 13istri et

t
January
i
1
: C50CÛNUT Oil*
(pounds)

[
t otal imports
per Cent of quota
Chicago
Colorado
Hawaii

Los Angeles
prft&nd
Massachusetts
Minnesota
p e w Orleans
wee York
breton

Philadelphia
Puerto Rico
St. Louis
Ben Franciseo
Virginia
Washington

-(Praparsd-hr

1 to May 29, 1937
t h SFXKSD I UNREFIMlCD
SWAM
: iîÜuAH
t
: (pounda) i (Pounds)

i
1
i
i

May 1 to Kay 29,
1937
CORDAGE
(Pounds)

154,998,459
30.1*

59,911,523
53.8%

841,520,926
47.09t

1,060,897
i t .a*

as
•
os
1,345,974
669,700
14,903,130
as
24,874,184
70,432,382
1,099,860
m
564,580
15,088,724
228
18,730

m
•
•
13,683,863
»
•
•
7,677,199
*
•
1,861,844
a*
36,688,617

m
m
6,216
58,375,143
8,950,044
•
219,433,476
270,348,247
195,217
258,606,001
•
as
31,604,582
«*

130,066
41,205
46,222
63,054
«»
•
145,256
1,962
264,516
115,417
as
7,015
40,156
215,028
**

S^tleg and- tf«*eere8 r

(P a X - ^

tC^ t^ /V^

The

* V 11 ^ ^

~>vo s-

¿ I ^ u>

lc>- 'STC

Commissioner of Customs today announced preliminary figures

for imports of commodities coming into the United States from the
Philippine Islands tinder the quota provisions of the Philippine
Independence Act» during the period January 1 to Hay 29» 1937* and
under the Cordage Act of 1935 9 during the period Hay 1 to 29» 193?»
also the percentages that such imports hear to the totals allowable
under the quotas» as follows$

TREASURY DEPARTMENT
Washington
PQR IMMEDIATE RELEASE,
Friday, June 11, 1937»

Press Service
No. 10-54

Acting Secretary of the Treasury Taylor today announced the subscription
figures and the basis of allotment for the offering of 1-3/8 percent Treasury
Notes of Series D-1939 and of 1-3/4 percent Treasury Notes of Series A—1942,
Reports received from the Federal Reserve hanks show that subscriptions
for the notes of Series D-1939 aggregate $2,499,000,000, and subscriptions
for the notes of Series A-1942 aggregate $2,496,000,000»
both series of notes were allotted on the same basis.

Subscriptions for

Subscriptions in amounts

up to and including $1,000 were allotted in full and those in amounts over
$1,000 were allotted 17 percent, but not less than $1,000 on any one subscription
Further details as to subscriptions and allotments will be announced when
final reports are received from the Federal Reserve banks»

ooOoo

treasury

jmPMmmr

Washington
FOR M E D I A T E REU5ASS,
Friday, June 11, 195?»

Frees Berries
/0 ~ S ’

Anting Secretary of the Treasury *TayJLor today announced the sub*
script ion figures and the basis of allotment for the offering of 1-5/8
percent Treasury Motes of Series D-1S39 and of 1-3/4 percent Treasury
Notes of Series A-1942»
Reports reoeired froa the Federal Reserve banks show that sub
scriptions for the notes of Series D-1939 aggregate #8,499,000,000,
and subscriptions for the notes of Series A-1942 aggregate #2,496,000,000«
Subscriptions for both series of notes were allotted on the same basis.
Subscriptions in amounts up to and including #1,000 were allotted In full
and those in amounts over #1,000 were allotted 1? peroent, but not less
than #1 ,000 on any one subscription»
Further details as to subscriptions and allotments will be announced
vfeen final reports are received from the Federal Reserve banks*

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE, '
Thursday, June 10, 1937*

Press Service
No* 10-53

The Commissioner of Customs today announced preliminary figures for imports
of cattle, cream and certified seed potatoes, under the quota provisions of the
Canadian Trade Agreement, as of May 29, 1937, and the percentage that such imports!
hear to the totals allowable under the quota provisions, as follows:

Dec. 1, 1936 to
May 29. 1937
January 1 to May 29* 1937
CATTLE
CATTLE 700#
DAIRY
CREAM WHITE OR IRISH
UNDER 175#
OR MORE
COWS
(Gal.) SEED POTATOES
(Head)
(Head)
700# OH
(Pounds)
MORE
___ __________ ______________ (Hoad)______________________
TOTAL IMPORTS
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawaii
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
Rochester
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

41,060
79.1$

96,397
61*9$

— ---7,101
-- *.
2,942
2

- - —
21,171
1,011
4,894
276
- - —
30
73

64
- - —
2
280
914
74
19,433
167
---— - —
7,383
1,425
- - 748
40,535

273
14
229
9
525

2,443

12*;

34,531
.3#

35,755,429
79,5$

36,450

67
82

2,000
5,061,242

242,360

m.mm

3,570,931

3,.944
33,394
751
1,700
489
293
- - 332
119

1,437,160

296
8
1,148 34,159

5.522
73,999

690 ---2,443 34,262

4 0 ----

20,713,463
382,732

5,934
9,145
4,558
2.761
22,398

FROM OTHER COUNTIRES
Puerto Rico

269

ocOoo

81,855
46,000
227,100
3,907,626
46.510
35,755,429

The Commissioner of Customs today announced preliminary
figures for imports of cattle, cream and certified seed potatoes,
under the quota provisions of the Canadian Trade Agreement, as of
May 29, 1937, and the percentage that such imports bear to the
totals allowable under the quota provisions, as follows:

The Gassaiastone* of Customs today announced preliminary
figures for imports ©f cattle» cream and certified seed potatoes,
under the quota provisions of the Canadian Trade Agreement, as of
May 29» 1937» end tí» percentage that suoi* imports bear to the
totals allowable under the quote provisions, ae followst

Sta

OFFICE OF THE COMMISSIONER OF CUSTOMS

June 10, 1937

MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Bldg.)
FROM MR. BENNER:

There is attached for immediate release a tabulation showing
preliminary figures for imports of cattle, cream and certified
seed potatoes, under the quota provisions of the Canadian Trade
Agreement, as of May 89, 1937.
When the release has been mimeographed, please have 110
copies forwarded to Miss Henry at Room 415, Washington Building.

8 t«

¿tao« », x m

MH» aâSTÔtf

(

of Mr* § iü m st loo« 899» tr*««œy 32,%»)

VMI MH*
Usar* lu «ttaobaft for tem âloio

» tabulatlsKi Mmriag

preliKtaiury f i# » â for importa o f o&btia» or®*aa « i eortlflod
amé patato«*, onOar the quota proviaiona o f th» Caaadiaa traáa
«^raanasil, «a of May ü# MBP*
i t e ib * roOaoao baa boon

hev® 110

«sople* fonauNM to Has Hoary «t Boom 415, Mfeitagtaa Buildiag.

a i m

0 /1 0 /3 7

IMPORTATIONS OF CATTLE, CREAM AND CERTIFIED SEEP POTATOES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of May 29, 1937

*
:
January 1 to May
: CATTLE
: CATTLE 700#
:UNDER 175#
:
OR MORE
: (Head)
:
(Head)
TOTAL IMPORTS

41,060
79.1#

96,397
61.9#

FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawaii
Maine & N. H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
Rochester
St. Lawrence
Vermont
Virginia
Washington
Total from Canada

7,383
1,425
748
40,535

332
119
5,522
73,999

FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

273
14
229
9
525

5,934
9,145
4,558
2,761
22,398

M O M OTHER COUNTRIES
Puerto Rico

—

- '
7,101
2,942
2
64
-

2
280
914
74
19,433
167
-

29, 1937
^ DAIRY COWS *
:700# OR MORE : CREAM
: (Head)
: (Gal.)
2,443
12.2#

-

'

21,171
1,011
4,894
276
30
73
3,944
33,394
751
1,700
489
293
-

-

34,531
2.3#

_

5
6

67
—

10
3
-

166
* 23
—
40
•
-

296
1,148
690
2,443

:Dec. 1,1936 to
:May 29, 1937
:WHITE OR IRISH
«: SEED POTATOES
:
(Pounds)
35,755,429
79.5#

36,450

mm
82

—

mm
— 2
•
_

2,000
5,061,242
242,360
3,570,931
1,437,160

mm
mm
—

«•
•
8
34,159
-

34,262

mm
20,713,463

mm
382,732
81,855
46,000
227,100
3,907,626
46,510
35,755,429

mm
mm

mm

mm

mm

-

-

—

-

-

-

-

269

(Prepared by Division of Statistics and Research, Bureau of Customs)

-

-3-

33*® figure« for 1934, ho«error, are not strictly comparable with those for prior years due

to the limitation of the privilege of filing consolidated returns,

under the Revenue Act of 1934,

Section 141, a separate return is required to be filed by each of the affiliated corporations,

excepting sterna and electric railroads*

The consolidated returns Shiah were necessarily classified

according to the predominant industrial activity of the consolidated group frequently embraced

subsidiary concerns Which were engaged in activities entirely dissimilar to the predominant business

of the consolidated group.

Consequently, for 1934 the returns of the subsidiary concerns as well as

for the parent company may be classified under industrial activities entirely dissimilar to the

predominant business of tbs consolidated group for prior years*

The lack of comparability between

the statistics from the 1934 returns and those fen? prior years, due to the limitation of the privilege

of filing consolidated returns contained in Section 141 of the Revenue Act of 1934, is more fully

discussed in the text of the «Statistics of Income for 1934, Part 2**

»mediately following there will be released garolfaainary data compiled from corporation

income tax returns for 1934 filed to December 31, 1935*

These data are abstracts of the final

report entitled "Statistics of Income for 1934, Part 2, Corporation Ihccme and Excess-Profits Tex

Returns and Personal Holding Company Returns", which is nearing completion.

-

2-

b

The statistics contained in this report are taken from the returns as filed and

prior to any revision or adjustment that may subseouently bo made as the result of audit

by the Bureaiij of Internal Revenue.

The industrial classification is based on the predominant business reported on the

returns, and as a result of the discontinuation of the privilege of filing consolidated returns,

except by steam and electric railroads

y , the

industrial distribution of the returns for 1935

is a finer segregation than for the years ended prior to December 31, 1934*

However, the

diversified industrial activities of many corporations preclude the possibility of securing a pure

industry classification of the returns.
-

'

In thijB report "gross income" corresponds to "total income" reported on the face of the

returns, plus "cost of goods sold" and "cost of operations" and minus "interest on Liberty Bonds, etc/

This last item, which is reported as an item of total income for the year ended December 31, 1934, and

thereafter, has been deducted from total income for tabulation, so that "gross income" will include th

same items as for prior years.

"Net inoome" means the amount of income subject to income tax and re-|

presents the amount of gross income as defined above, in excess of the deductions reported by the

taxpayer, and "deficit" represents excess of deductions over gross income.

In analyzing the data, allowance should be made for the two special deductions from gross

income permitted life insurance companies under paragraphs (2) and (4), subsection (a), section 203,

Revenue Act of 1934, relating to reserve funds required by law and reserves for' dividends•

lor
v
y

|H

returns with net income this deduction is $34,570,997; for returns with no net income $688,435,714.

In general, the statistics from the 1935 returns in Table 1 of this report are comparable with

data from the 1934 returns.

However, it must be borne in mind that the tabulations from the 1934

returns include consolidated returns with fiscal years ended after June 30, 1934 and prior to

December 31, 1934 (filed under the Revenue Act of 1932

and the income tax provisions of the National
i/

Industrial Recovery Act) in addition to consolidated returns for steam and electric railroads
i/

the consolidated returns in this report are only for steam and electric railroads

y

•

The term "common carrier by railroad" includes steam and electric railroads, but excludes
street, suburban and interurban railways and express, refrigerator and sleeping car companies
(See article 141-3, Regulations 86, Income Tax, Revenue Act of 1934).

, whereas

7

__Flrgt-reìeasEr

TREASURY

b

DEPARTMENT
Press Service
No.

Washington

FOR RELEASE, MORNING NE7JSPAFERS,
ijj 1937

P R E L I M I N A R Y

REPORT.

S T A T I S T I C S

OF

I N C O M E

FOR

1955

CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS

Secretary of the Treasury Morgenthau today made public a synopsis of the preliminary

report, Statistics ¡of Income, compiled from corporation income tax returns for 1935, filed to

December 31, 1936, jbrepared under the direction of Commissioner of Internal Revenue, Guy T.

jîa1vering• mvia

"tt?-to —bo released st a later

The TuimhftT* ojf corporation income tax returns for 1935 filed to December 31, 1936, is

533,512, of which 164,142 show net income amounting to $5,149,297,709, while 312,858 show a

deficit of $3,451,157,469, and 56,512 have no income data.

The income tax is $707,886,027,

the excess-profits taxi/ $31,888,248, and the total tax $739,774,275.

A comparison of the data

from the 1935 return^ with the data from the 1934 returns (see Table 1 of this report) shows that

m

the number

of returns with net income increased 19,041, or 13.1 percent, and the net income

increased $874,100,43)8 or 20.4 percent.
r

‘

The number of returns with no net income decreased

V

-

-

..

..

■- ,

.

/'

■. . ■

v'

11,845, or 3.6 percent, and the deficit decreased $729,870,017, or 17.5 percent.

Corporation income tax returns for 1935 are filed under the provisions of the Revenue Ac^

of 1934.

The major changes caused by this act affecting corporation income taxes are set forth in

the Preliminary Report, Statistics of Income for 1934, Corporation Income Tax Returns, pages 1 and 2.

The year for which the income is reported is, in general, the calendar year ended December 31,

1935.

However, a considerable number of corporation returns are filed for a fiscal year other than

the calendar year.

These returns for fiscal years ended within the period July 1, 1935 to June 30

1936, are tabulated with the calendar year returns.

There are also included

which the greater part of the accounting period falls in 1935

u

.An, excess-profits tax occurs on certain
' ^ ^ . r e t u r n s with no net income
Includes
which
4 excess-profits tax liability of $19,089/1appears on returns with no net incomejdue to the credit for

interest received on certain obligations of the United States and its instrumentalities, which is
allowed against net income in the computation of the income tax, not being allowed against net
income in the computation of the excess-profits tax (see Article 1(d) of Treasury Decision 4469,
"Regulations relating to the excess-profits tax imposed by Section 702 of the Revenue Act of 1934").

Sixth release

TREASURY DEPARTMENT
Washington

FOR R^IEASE, MORNING NEWSPAPERS*
y k x ^ a ù j ^ yiA-Mjg. ìU 1957
Il (y
y

Press Service
No,
,
'
r;X/

Secretary of the Treasury Morgenthau today made public the
fifth in the series of tabulations from the "Statistics of Income
for 1934, Part 2", compiled from corporation income and excessprofits tax returns for 1934, prepared under the direction of
Commissioner of Internal Revenue Guy T. Helvering,
The first of the two tables below presents, the corporation
returns for 1934 distributed by total assets classes, and shows
for each group, the various forns of assets and liabilities re
ported on balance sheets submitted with the corporation income
and excess-profits tax returns for 1934,
In the second tabulation, the aggregate for each form of
assets and liabilities is shown for each of the years 1932, 1933
and 1934

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,

Press Service
Nc. 10-58

Thursday, June 17, 1957

PRELIMINARY REPORT,
STATISTICS OF INCOME FOR 1955
CORPORATION INCOME AND EXCESS-PROFITS TAX RETURNS

Secretary of the Treasury Morgenthau today made public a synopsis
of the preliminary report, Statistics of Income, compiled from corporation
income tax returns for 1935, filed to December 31, 1936, prepared under
the direction of Commissioner of Internal Revenue, Guy T. Helvering.
The number of corporation income tax returns for 1935 filed to
December 31, 1936, is 533,512, of which 164,142 show net income amounting
to |5,149,297,709, while 312,858 show a deficit of $3,451,157,469, and
56,512 have no income data*

The income tax is $707,886,027, the excess-

profits tax^j/ $31,888,248, and the total tax $739,774,275.

A comparison

of the data from the 1935 returns with the data from the 1934 returns
(see Table 1 of this report) shows that the number of returns with net
income increased 19,041, or 13.1 percent, and the net income increased
$874,100,438 or 20*4 percent*

The number of returns with no net income

decreased 11,845, or 3*6 percent, and the deficit decreased $729,870,017,
or 17.5 percent.

l/ Includes excess-profits tax liability of $19,089 which appears on returns
with no net income. An excess-profits tax occurs on certain returns with
no net income due to the credit for interest received on certain obli
gations of the United States and its instrumentalities, which is allowed
against net income in the computation of the income tax, not being allowed
against net income in the computation of the excess-profits tax (see
Article 1(d) of Treasury Decision 4469, "Regulations relating to the
excess-profits tax imposed by Section 702 of the Revenue Act of 1934”).

Corporation income tax returns for 1935 arc filed un.der the provisions
of the Revenue Act of 1934.

The major changes caused by this act affecting

corporation income taxes are set forth in the Preliminary Report, Statistics
of Income for 1934, Corporation Income Tax Returns, pages 1 and 2*
The year for which the income is reported is, in general, the calendar
year ended December 31, 1935*

However, a considerable number of corporation

returns are filed for a fiscal year other than the calendar year.

Those

returns for fiscal years ended within the period July 1, 1935, to June 30,
1936, arc tabulated with the calendar year returns*

There arc also included

part-year returns for which the greater part of the accounting period falls
in 1935.
The statistics contained in this report are taken from the returns
as filed and prior to any revision or adjustment that may subsequently
be made as the result of audit by the Bureau of Internal Revenue.
The industrial classification is based on the predominant business
reported on the returns, and as a result of the discontinuation of the
privilege of filing consolidated returns, except by steam and electric
railroads

industrial distribution of the returns for 1935 is a

finer segregation than for the years ended prior to December 31, 1934*
However, the diversified industrial activities of many corporations

pre

clude the possibility of securing a pure industry classification of the
returns•

1/
The term "common carrier by railroad” includes steam and electric
railroads, but excludes street, suburban and intorurban railways and
express, refrigerator and sleeping car companies (See article 141-3,
Regulations 86, Income Tax, Revenue /ct of 1934)*

3

In this report "gross income” corresponds to "total income" reported
on the face of the returns, plus "cost of goods sold" and "cost of opera
tions" and minus "interest on Liberty Bonds, etc."

This last item, which

is reported as an item of total income for the year ended December 31,
1934, and thereafter, has been deducted from total income for tabulation,
so that "gross income" will include the same items as for prior years.
"Net income" means the amount of income subject to income tax and repre
sents the amount of gross income as defined above, in excess of the de
ductions reported by the taxpayer, and "deficit" represents excess of
deductions over gross income*
In analyzing the data, allowance should be made for the two special
deductions from gross income permitted life insurance companies under
paragraphs (2) and (4), subsection (a), section 203, Revenue .Act of 1934,
relating to reserve funds required by law and reserves for dividends.
For returns with net income this deduction is f>34,570,997; for returns
with no net income $>688,435,714.
In general, the statistics from the 1935 returns in Table 1 of this
report are comparable with data from the 1934 returns.

However, it must

be borne in mind that the tabulations from the 1934 returns include con
solidated returns with fiscal years ended after June 30, 1934 and prior
to December 31, 1934 (filed under the Revenue Act of 1932 and the income
tax provisions of the National Industrial Recovery Act) in addition to
consolidated returns for steam and electric railroads

whereas

the

consolidated returns in this report are only for steam and electric
railroads

y•

T/ The term "common carrier by railroad" includes steam and electrTc railroads, but excludes street, suburban and interurban railways a.nd express,
refrigerator and sleeping car companies (See article 141-3, Regulations
86, Income Tax, Revenue Act of 1934).

Table 1. - Corporation returns for 1935» "by industrial groups and by returns with net income and no net income, showing number of returns, gross income, net income or deficit,
income tax, excess-profits iax, and total tax; also number of returns for inactive corporations, and totals for preceding years 1/
(Money figures in thousands of dollars)
_ ,
„.(Returns failed to December 3d» 19 3 &)
— — -------------------------------------- y
Industrial groups

Agriculture and related industries
Mining and quarrying
Manufacturing:
Food and kindred products
Liquors and beverages (alcoholic and
nonalcoholic)
Tobacco products
Textiles and their products
Leather and its manufactures
Rubber products
Forest products
Paper, pulp and products
Printing, publishing, and allied
industries
Chemicals and allied products
Stone, clay and glass products
Metal and its products
Manufacturing not elsewhere
classified
Total manufacturing
Construction
Transportation and other public utilities
Trade
Service— Professional, amusements,
hotels, etc.
Finance— Banking, insurance, real estate,
holding companies, stock and bond
brokers, etc.
Nature of business not given

:

Total
number of
returns

—---------------1
Number

Gross income
2/

1.—
urns showing net income
Net income
Income tax
_ 2/ .

1

Total tax

Returns showing no net income
Deficit
Number
Gross income
3/
2/

:
j
;

Number of returns showing no
income data— in
active corporations

22,4o 6

I60
515

6 ,1 9 4
2 2 ,9 2 1

9,186

2 30,6 6 8
1 .2 9 2 ,8 5 3

173, S79

1,0 2 9
4 ,7 0 5

: "
311,784

42,860

1 ,5 4 7

44,407

7,284

1,988,326

55,818

780

1 4 ,5 6 3
1 3 ,6 7 0
2 3 .4 1 3
6 ,5 5 3
4,l4l
5 ,2 2 1
12 ,6 0 4

S56
44

1 5 .4 1 9
1 3 .7 1 4
24,447
6 ,7 5 2
4,465
5,442
12,881

1,481
228

16,355
1,221
100,184

335

9 ,2 5 3
1 .25 s
312
4 ,19 9
939

2 1 6 ,6 5 7
3 3 ,6 8 2
2,045,344
228,429
116,885
583.999
32 6 ,4 2 3

9 ,0 0 9
6,989
5 3 ,4 2 0
3 2 ,5 0 0

20
273
67
3^
260
72

7,4 9 2
4,348
2,524
1 0 ,7 0 1

559,864
2,872,780
248,420
2,900,214

4 5 .9 7 0
1 1 4 ,0 5 1
3 1 ,1 7 0
16 9 ,10 8

522
463
190
728

2,319
4.528

358,748
1,332,331

1 3 .3 5 9

5 ,2 9 5

7,227,419

3,282
327

1,466

139
6 ,1 2 7
1,088
286
2,384
1 ,2 9 6

1 ,0 9 8 ,9 4 7
1,077,784
3,826,461
9 2 8 ,7 2 4
6 7 1 ,8 6 1
7 3 4 .3 3 9
1,162,422

' 1 0 5 ,9 1 0
99,419
170,283
47,661
30,119
37,968

1 ,464,259
4 ,5 4 4 .6 3 3
7 6 9 ,1 9 1
1 0 ,6 37,9 6 2

139,919

1 9 .8 5 4

4 ,8 9 1
3 .1 5 6
1 ,2 5 2
8 ,4 2 5

6,6l3

2 ,1 4 4

9 6 ,1 8 1

1 5 .6 5 3
2 .4 1 3
632
6.843
2,307

Excess-profits
tax 4/

:
:

43,889
1 6 2 ,9 7 4

10,081
18*419

-,r

-------------------

6 ,0 3 4

9 1 .7 6 7

1 ,0 3 4
19 s
323
222
278

6 ,7 3 3

4 0 ,2 5 7

3 6 7 ,2 0 1
88,685
8 7 0 ,4 3 5

1 9 ,2 3 2
50,350
1 2 ,1 9 4
119,681

470
8 ,1 9 6

19,701
5 I .279
12,664
127,877

1,083,382

108,897

14,973

888

1 5 ,8 6 1

3 ,6 7 6

3 5 2 .3 3 s

3 0 ,4 3 3

793

3 7 .9 4 9

35,227,433

2 ,4 70 ,0 4 9

339,462

1 5 .4 4 7

35 4 .9 0 9

53,6 9 5

1 2 ,4 7 3 ,3 6 2

666,228

4 ,5 3 7

1 7 ,6 8 6

4,242

789,509

4 9 ,3 7 5

6 ,7 8 8

7 II

7,4 9 9

1 1 ,8 0 7

703,821

55,737

1 ,6 3 7

2 8 ,4 3 1
1 4 9 .3 2 3

1 0 ,59 s
57.770

6,520,749
17,537,559

9 2 7 ,0 8 7
766,099

127,572

1,125
3,305

1 2 8 ,6 9 7

1 0 5 ,3 1 2

108,617

14,829
8 7 ,06 s

5,011,531
9 .9 4 7,0 9 3

5 5 9 ,19 s
301,355

3,oo4
4.545

5 4 ,5 5 8

13,355

1,802,116

1 2 7 ,4 0 3

17,508

729

1 8 ,2 3 6

3 6 ,2 9 1

1,904,050

2 6 8 ,6 37

4,912

12,905
7.967
3.966

11

462
929

;
33,217
164

3,621,821
2,151

601,860
561

82,728
77

9,891
6

9 2 .6 19
83

91,689

1 4 ,9 6 2

1 ,5 6 0

4 ,9 5 7 .0 8 8
3,720

1 .376 ,6 9 9
9 ,1 6 8

1 8 ,9 0 5
1 3 ,2 3 8

533,512

1 64,142

6 7 ,1 9 2 ,4 1 7

5 ,1 4 9 ,29 s

7 0 7 ,8 8 6

4/ 3 1 ,8 8 8

7 3 9 .7 7 4

312,858

3 6 ,5 2 4 ,18 5

3 ,4 5 1 ,1 5 7

5 6 .5 1 2

1934
1933
1932

536,898
50 4 ,0 8 0
5 0 8 ,6 3 6

1 4 5 ,1 0 1
1 0 9 ,7 8 6
82,646

62,920,954
4 6 ,7 5 2 ,3 6 6 •
3 1 .7 0 7 ,9 6 3

4 ,2 7 5 ,1 9 7
2 ,9 2 5 ,9 72
2 .1 5 3 ,1 1 3

5 8 8 ,3 7 5
4 1 6 ,0 9 3
2 8 5 ,5 7 6

4/

596,048
423,06s

2 8 5 ,5 7 6

324,703
3 3 7 .0 5 6
369,238

37,910,299
3 6 ,890,055
49,375.775

4,181,027
5,533,339
7,796,687

59,094
57,232
56,752

1930

5 1 8 ,7 3 6
5 0 9 ,^ 3 6
49 5,2 9 2
4 7 5 ,0 3 1
4 5 5 ,3 2 0
4 3 0 ,0 7 2

221,420 5 / 89,561,495
269,430
129,633,792
268,783 5 /1 2 7 ,36 9 ,5 2 5
259,2^9
115,324,340
258,134
118,022,117
252,334
113,692,083

7 1 1 ,7 0 4
1 ,1 9 3 ,4 3 6
1,184,142
1 ,1 3 0 ,6 7 4
1 ,2 2 9 ,7 9 7
1 ,1 7 0 ,3 3 1

2 4 1,6 16
18 6 ,5 9 1
17 4 ,8 2 8
16 5,8 2 6
6/ 197,186
6/ 177,732

4 6 ,5 0 0 ,5 6 4
30,927,717
5 / 2 5 ,4 1 1,9 2 9
2 9 ,0 7 4 ,0 1 2
2 4 ,1 0 7 ,7 3 6
5/ 2 0 ,568,068

4,277,595
2 ,9 1 4 ,1 2 8
2 ,3 9 1 ,1 2 4
2,471,739
2 ,1 6 8 ,7 1 0
1 ,962,628

5 5 ,7 0 0
53,415
52,281
49,356
(6)

Grand total

143,811

Summary for preceding years:

1929

1928
1927

1926
1925

[6,428,813
4 1 ,6 5 3,8 8 6
3|0,6 1 7 ,7 4 1
8,981,884
(9 ,6 7 3 ,^ 0 3
§,583,684

5/

7 1 1 ,7 0 4
1,193,^36
1,184,142
1 ,1 3 0 ,6 7 4
1 ,2 2 9 ,7 9 7
1 ,1 7 0 ,3 3 1

7.673
6 ,9 76
—

5/

(6)

For general explanations, see text.
Gross income corresponds to total income as reported on face of return plus ’’cost of jgoods sold” and ’’cost of other operations.” Interest received on Liberty Bonds, etc. (item 11 on face of 1934 end 1935 returns) has been deducted from
gross income, so that gross income inc3.udes the same items as in prior years.
Excludes dividends received on stock of domestic corporations*
Includes excess-profits tax: liability on returns with no net income amounting to $19lDS9 for 1935 returns, and $37,5^0 for 1934 returns. An excess-profits tax occurs on certain returns with no net income due to the credit for interest
received on certain obligations of the United States and its instrumentalities, which is allowed against net income in the computation of the income tax, not being allowed against net income in the computation of the excess-profits
tax (see article l(d) of Treasury Decision 4469, ’»Regulations relating to the excess-profits tax imposed on Section 702 of the Revenue Act of 1934.”)
Revised figures.
The number of inactive corporations is included in the number of returns with no net income.

m m /Lmmr mP&B.'BiíMT
Washington

won t m m j m m & m a
Tuesday, fune 15, 1937.

sutate-jife Màafe S s
**»-»»*
WtPmm»WfliMl

The Treaeaiy todagr recalad the m i of $163,143.00 fro® the
öowermieat of Unload, representing Hie aersd-anaual payment of
Interest la the amount of $144,113.50 ander the funding Agreement
Of Hay 1* 1933, and $19,030.90 as the ai$ath semi-annual
due under the Moratorium Agreement of Her 33, 1933.
represents the entire amount

due free

the

annuity

This payment

Ooremnent o f

Unload*

She p e r m i t of Interest consisted of $143,000.00 face « m a s t of
3-1/2$ Treasury Bende of 1949*33, ehioh were accepted at par,
$1,775.00 accrued interest thereon and cash for $337.50«

the

annuity Of $19,030.50 doe under the Moratoria» Agrement ene
paid in cash.

ooOoo

WTHjHBW

TREASURY DEPARTMENT

Washington
FOR IMEDIATE RELEASE
Tuesday* June 15, 1937.

Press Service
^n
(P'> 1

The Treasury today received the sum of $163,143.00 from the
Government of Finland, representing the semi-annual payment of
interest In the amount of $144,112.50 under the Funding Agreement
of May 1 , 1923, and $19,030.50 as the eighth semi-annual annuity
due under the Moratorium Agreement of May 23, 1932.

This payment

represents the entire amount due from the Government of Finland*
The payment of interest consisted of $142,000.00 face amount of
2-1 /2$ Treasury Bonds of 1949-53, which were accepted at par,
$1,775.00 accrued interest thereon and cash for $337.50. The
annuity of $19,030.50 due under the Moratorium Agreement was
paid in cash.
ooOoo

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Tuesday, June 15, 1937.

Press Service
No. 10-59

The Treasury received today the sum of $163,143.00 from the
Government of Finland, representing the semi-annual payment of
interest in the amount of $144,112.50 under the Funding Agreement
of May 1, 1923, and $19,030.50 as the eighth semi-annual annuity
due under the Moratorium Agreement of May 23, 1932.

This payment

represents the entire amount due from the Government of Finland.
The payment of interest consisted of $142,000.00 face amount of
2—1 /2^& Treasury Bonds of 1949— 53, which were accepted at par, $1,775.00
accrued interest theJPBon and cash for $337.50,

The annuity of $19,030.50

due under the Moratorium Agreement was paid in cash.

ooOoo

TRSâSUHT DSPaH O T
Wàshington

FOR BMKDIaTS RELEASE,
Tuesday, Fons 1$, 1937.

Press Servies
lo-

lo o

Secretary of the Treasury Morgenthau today announced the fin al subscription and
allotment figures with respect to the current offering of 1-3/8 percent Treasury Rotes
of Series 0-1939 and 1-3/4 percent Treasury Rotes of Series ¿«1943*
Subscriptions and allotments sere divided among the several Federal Reserve dis
tric ts and tha Treasury as follow s
1-3/8# 80ns. SSRISS D-1939
Total auW
Total sub«
scriptions
sorlptlons
received
allotted

Federal Raearve
D istrict

Boston
New Torte
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
S t. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL

t

£43,693,700
1,833,033,700
119,060,500
136,081,900
73,5X1,900
63,340,300
863,494,100
64,463,700
18,369,900
30,117,300
43,164,300
188,135,300
780.000
♦ 2,499,549,100

# 41,498,000
208,394,700
20,503,200
26,616,000
13,890,000
10,898,000
43,360,800
11,437,400
3,196,300
8,631,000
7,343,700
33,013,300
187.500
*426,494,300

1-3/4* HOTSS. SSRISS A-1942
Total sub«
Total sub«
aeriptions
script ions
received
allotted
* 881,149,800
1,332,004,900
189,076,500
145,393,100
83,870,000
67,950,700
853,458,800
67,016,100
20,536,200
37,376,400
40,368,300
147,311,300
516.700
$2,496,326,400

* 97,786,900
213,044,700
37,135,300
34,996,700
14,369,300
11,673,100
43,444,100
11,807,000
3,550,000
6,438,000
6,989,700
33,110,000
89f700
♦ 486,890,000

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Tuesday, June 15, 193 7.

Press Service
No. 10-60

Secretary of the Treasury Morgenthau today announced the final subscription
and allotment figures with respect to the current offering of 1-3/8 percent
Treasury Notes of Series D-1939 and 1-3/4 percent Treasury Notes of Series A-1942.
Subscriptions and allotments were divided •among the several Federal Re
serve districts and the Treasury as follows:

Federal Reserve
District

Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Treasury
TOTAL

1-3/8/ NOTES, SERIES D-1939
Total subTotal subscriptions
scriptions
received
allotted
$

243,693,700
1,225,023,700
116,060,500.
156,021,900
75,511,900
63,640,200
252,494,100
64,465,700
18,269,900
50,117,500
42,164,500
188,135,500
750,000
12,499,349,100

I 41,492,000
208,394,700
20-,305, 200
26,616,000
12,890,000
10,858,000
43,260,800
11,427,400
3,196,500
8,631,000
7,243,700
32,013,500
' -127,500
1426,494,300

1-3/4/ NOTES, SERIES A-1942
Total subTotal subscriptions
scriptions
received
allotted
1

221,147,200
1,252,004,900
159,076,500
145,593,100
83,870,000
67,950,700
253,458,800
67,015,100
20,536,200
37,376,400
40,268,300
147,511,500
- 515,700
12,496,326,400

1 37,726,500
213,044,700
27,126,200
24,9-96,700
14,369,300
11,673,100
43,444,100
11,807,000
3,550,000
5,428,000
6,925,700
25,110,000
- 89,700
1426,290,000

TREASURY DEPARTMENT
WASHINGTON
O F F IC E O F
COMMISSIONER O F INTERN AL REVENUE

June 21, 1937*

A D D R E S S R E P L Y TO
COMMISSIONER O F IN T E R N A L RE V E N U E
AN D R E F E R T O

A&CiCol:0

MEMORANDUM for
Mr* Gaston,
Assistant to the Secretary*

Transmitted herewith is a comparative statement
of income taxes collected June 1 to June 20, inclusive
1936, and June 1 to June 19, inclusive, 1937, based on

Enclosure

June 21« 1957*

A&CtGolyO

MEHORAKDUX for

Ur* Gaston«
.
Assistant to ths Secretary.

Transmitted herewith is a comparative statement
of income taxes collected June 1 to Juno 20« inclusive«
1936« and June 1 to June 19« inclusive« 1937« based on
telegraphic reports from Collectors.

, N '¿L— -r S 'a lv s r M
(Signed) &W
"

Commissioner.
Bf
Enclosure

Continued
Deposited
June 1-20. 1935
2nd New Y0rk $
39,340,726.30
24,327,446,07
3rd New York
3,566,278.76
14th New York
21st New York
1,114,773.03
4,686,800.65
28th New York
3,381,265.04
N0rth Carolina
58,617.25
North Dakota
1st O^io
3,701,035.91
10th Ohio
1,425,559.62
11th Ohio
917,393.13
5,8^7,616.26
18th Ohio
2,130,153.11
Oklahoma
4331108,02
Oregon
12,816^603.75
1st Pennsylvania
12th Pennsylvania
1,184,300.96
7,563,310.07
23rd Pennsylvania
Rhode Island
1,724,99(\62^
421,3 4 a M
South Carolina
82*3^4.4 \
South Dakota
1^61,212.6 3 \
Tennessee
^,929,895.43 \
1st Texas
V
2nd Texas
V ^ 2,480,517.41
496,976.53
X
Utah
186,684.20
X
Vermont
2,557,064.73
\
Virginia'-**
Washingtin, inc1,143,340.07
luding Alaska
1,194,090.34
Nest Virginia
Wisconsin
2,536,488.05
163,307.90
Wyoming
Philippine Isiands
$242,688,776.74
TOTAL

Deposited
June 1-20, 1936
$

44,675,190.46
27,316,187.11
4,659,757.76
1,157,335.62
4,912,568.13
3,451,882.74
88,829.60
4,468,652.25
2,126,637,24
1,057,469.34
8,653,8^9.61
2,538^^41.85
^,^641,235.92
^ 13,346,239,12
1,540,402.35
9 s920,840,88
2,126,277.62
485,093.29
112,849.23
1,811,587,44
3,541,312.38
2,768,013.54
320,076.57
231,422.60
2,965,752.20
V

1,598,325.41
X , 539,594,51
2^22,621.09
19'^,225.81
------- ---

$298,505,823.56

TREASURY DEPARTMENT

Deposited
(#
June 1-20, I?.?!
Alabama
Arizona
Arkansas
1st California
6th California
Colorado
Connecticut
Delaware
Florida
Gre°rgia
Hawai i
Idaho
1st Illinois
8th Illinois
Indiana
Iowa
Kansas
Kentucky
Loui siana
Maine
Maryland, inc
luding Dist.
of Columbia
Massachusetts
Michigan
Minnesota
Mississippi
1st Missouri
6th Missouri
Montana
Nebraska
Nevada
New Hampshire
1st New Jersey
5th New Jersey
New Mexico
1st New York

566,698.43
116,103.48
292,941.80
7,373,722.58
6,299,840.34
1,561,431.18
4,844,849 ?67
L 5,079,895.80
m
1,348,100.59
1 1.752,078.21/^
^ 856,535^'
\ 119.9^97
1%, 196.J05.04
3\05$f458.37
826.72
1 Æ 9 , 515.34
/7k), 689.40
¿H..80|,987.72
3 ' 1,3591719.65
768^75,36
$

x

\

5,942,56$.89
10.796,80(^55
12,023,609.157
2,508,646.00
152,872.37i
4,280,986.7l\
1,677,851.88 \
235,888,79
\
800,868,59
\
210,436.11
524,115.86
1,422,145.02
9,638,588.49
101,550.85
3,806,035.00

Deposited
^
June
193^
$

696,921.48
220,^99.76
33><I64.10
&*€&), 668.38
^"8,362,220.70
1,853,541.47
6.-469,074,92
6 ,860,298.09
2*617,881.92
1,660,312.73
1,565,755.05
246,046.74
23,296,328.20
1,573,603.31
4,089,117.48
1,348,931.06
905,285.79
2,250,164.78
1,580,455.43
894,901.69

7,023,442.49
13,168,345.70
21,681,095.83
3,039,985.00
292,077,10
5,430,398.35
1,964,199.32
420,321.00
762,756.13
379,835.81
505,837.52
1,538,853,14
10,647,627.76
131,301.66
4,691,172.00

H

t
A’i

v

t

k

Com
parative S-fcai:em
ent of Income Taxes Collected June 1—
80.

;i

on

Telegraphic

——---------- ---------- ------

Deposited
June 1-20. 1956

Alabama,

Reports

from

C o l l e c t o r s ) ________________________

---------------------

-

■

Deposited
E s t . Ohdeposited Est* Undeposited
June 1-19. 1957 1June 1-20. 1936
■~=T June 1-19 . 1937
o ? 1
$
$
9
f

696,921.►48
220,899.►
76

C le a r
C le a r

6th California,

1,3 7 1,79 9 . 83
370,587» 23
331,164,►
765,854» 67
10
8,840,668.,38 : 13,863,906. 82
8,362,220..70 | 11,592,014» 64

C le a r
C le a r
C le ar

Colorado,

1,853,541,►
47

3 ,3 6 2 ,4 0 2 . 85

C le ar

92
6,469,074,►
6,860,298,►
09
92
2,617,881i►
1,660,312,►73
1,565,755,►05
246,046,►74
23,296,328,►20
1,573,603,.31

12,091,612» 93 1
15,204,364» 76
| 5,655,009» 83
; 3,585,427» 92
j 2,170,359» @0
416,207. 72
j 4 0,506,284. 23
j 2 ,7 0 4 ,4 0 3 . 73

C le a r
C le ar
C le a r
C le a r
C le ar

5,000,»00
25,000 .00
60,000,»00 |
4,000 »00
500*00

C3.ear
C le a r
C lear

C le a r

4,089,117i►48
1,348,931,►06
905,285 .79
2,250,164,.78
1,580,455,»43
894,901,.69
7,023,442,.49
13,168,345,.70
21,681,095,.83
3,039,985,.00
292,077 .10

7 ,0 3 8 ,3 0 0 . 78
2 ,0 1 2,86 1 . 91
1,949,062»92

C le a r
C le a r
C le a r
C lear
C le ar
C le a r
C le ar
C le a r
C le a r
C le a r
C le ar

20,000 »00
30,000;.00
7,500 ♦00

Arizona,
Arkansas,
1st California,

Connecticut,
Delaware,
Florida,
Georgia,
Hawaii,
Idaho,
1stIllinois,
8th Illinois,
Indiana,
Iowa,
Kansas,
Kentucky,
Louisiana,
Maine,
Maryland, including
Disk of Columbia,
Massachusetts,
Michigan,
Minnesota,
Mississippi,
1stMissouri,
6th Missouri,
Montana,
Nebraska,
Nevada,
New Hampshire,
1stNew Jersey,
5th New Jersey,
New Mexico,
_1stNew York,
2d New York,
3d New York,
14th New York,
21stNew York,
28th New York,
North Carolina,
North Dakota,

18th Ohio,
Oklahoma,
Oregon,
1stPennsylvania,
12th Pennsylvania,
23d Pennsylvania,
Rhode Island,
South Carolina,
South Dakota,
Tennessee,
1stTexas,
2d Texas,
Utah,
Vermont,
Virginia,
Washington, including
Alaska,
West Virginia,
Wisconsin,
Wyoming,

3 ,0 5 1,31 1 . 90
1 ,6 9 0,04 5 . 10
13,461,220. 75
| 20,453,352. 78
33,132,500. 74
I 5,444,566» 00
j
608,802. 73

T o ta l
1956

T o ta l
1937
$

696,921«►
48
220.899«►
76

C le a r
2,000,000 »00

331,164«►
10
8.840,668«,38
70
8,362,220;►

C le a r

47
1,853,541;►

3,362,402«►85

15,000 .00
65.00

20,848,»86
100,000 »00
C le a r
50,000 »00
500,000 .00
C le ar
C le ar

6,469,074,,92
6,860,298«,09
2,617,881«,92 :
1,660,312j,73 i
1,565,755«,05
246,046«,74
23,296,328«,20 :
1,573,603.31 |
4,089,117«,48
06
1,348,931«►
905,285«,79
2,250.164,.78
11580,455.43 !
894,901,►
69
7,023,442.49
13,168,345,.70 ;
21,681,095..83
3,039,985,►00
292,077,►10

12,096,612«»93
15,229,364«»76
5,715,009«»83
3,589,427«»92
2,170,859«»80
416,207«►72
40,521,284«►23
2,704,468«►73
7,058,300«►78
2.042.861«.91
1,956,562*92
4,660,711«►17
3,151,311«»90
1,690,045« ►10
13,511,220«►75
20,953,352« ►78
33,132,500,►74
5,444,566«►00

5,430,398..35 j
1,964,199«►32 :

608,802«►73
7,466,907«►40
3,085,650;►08

420,321,►00
762,756,►13 S
379,835,►81
• ,505,837,»52

454,499;►20
1,547,759«►87
593,039;►19
902,591;►90

5,430,398,•35 |
1,964,199 .32

6 ,9 6 6 ,9 0 7 . 40
3 ,0 7 9 ,6 5 0 . 08

C le a r
C le a r

C le a r
500,000 »00 ;
6,000 .00

420,321 .00
762,756 .13
379,835 .81
505,837 .52

454,499» 20
1,543,759» 87
593,039» 19
902,591.90

C le ar
C le ar
C le ar
C le a r

C le a r
4,000,»00
C le a r
C le a r

1,538,853 •14
4 ,3 0 3 ,0 6 5 . 51
10,647,627 .76
13,673,647. 46
131,301:•66
240,280. 20
4,691,172 .00
7 ,1 4 2 ,3 4 2 . 00
44,675,190 .46 ! 76,357,341. 11
27,316,187 .11
43,267,280. 46
4,659,757 »76
7,5 1 8,99 9 . 13
1,157,335 .62
2,223,243» 75
4,912,568 .13
7,9 5 5,21 8 . 42
3,451,882 .74
5 ,4 7 0 ,1 3 5 . 77
88,829 .60
123,757. 67
4,468,652 .25
7,305,276.102
2,128,637 •24
4 ,2 3 1 ,3 4 9 . 24
1,057,469 •34
2 ,0 82,706. 79
8,653,879 .61
16,940,475» 79

C le a r
C le ar
C le a r
C le a r
C le a r
C le a r
C le a r
C le a r

2,632,141 •85
641,235 .92
13,346,239 .12

C le a r
C le a r
C le a r

32,770,»95
30,000,»00
75,000,»00

2,632,141,.85
641,235 .92
13,346,239 .12

7,546,734.13
2,223.243*75
8,055,218« ►42
5,475,135«►
77
124,757«»67
7.405*276.►02
4*281*349.24
2,088,706.79
16,940,475*79
4,003,318.81
1,246,369*88
19,450,096*50

C le a r
C le a r

C le a r
£5,000,»00

1,540,402,.35
9,920,840 .88

2.873,560*57
19,075,915«►43

C le a r
C le a r
C le a r
C le a r
C le a r
C le a r

450,000,»00
25,197,»56

2,126,277 *62
485,093 .29
112,849 .23
1,811,587 .44
3,541,312 *38
2,768,013 »54

3.563.300*00
986,000«»42
139,995«»58
3,018,135«»67
6,072,771«»23
5,559,300«»67

C le a r
C le a r

500,»00

320,076 »57
231,422 .60
2,965,752 .20
1,598,325 .41

661,062,►98
398,672,,02
6,286,861,,13
3,179,707«»89
2,635,014«►39

1,540,402 .35
9,920,840 .88
2,126,277 .62
485,093 .29
112,849 .23
1,811,587 •44
3,541,312 .38
2,768,013 .54
320,076 .57
231,422 .60
2,965,752 .20
1,598,325 •41
1,539,594 ^51
2,822,621 »09
190,825 .81

3 ,9 7 0 ,5 4 7 . 86
1,216,369» 88
19,375,096. 50
2 ,2 7 3 ,5 6 0 . 57
19,0 50 ,9 1 5 . 43
3,113,300»!00
960,802. 86
139,995» 58
3 ,0 1 8,13 5 . 67
6 ,0 7 2,77 1 . 23
5 ,4 5 9 ,3 0 0 . 67
660,562. 98
398,672.102
6 ,2 8 6 ,8 6 1 . 13
3 ,1 4 9 ,7 0 7 . 89
2 ,6 3 5 ,0 1 4 . 39

C le ar
C le a r
C le a r
C le a r
C le a r
C le a r
C le a r

C le a r
C le a r
C le a r

191,»46 jj 1,538,853,►14
10*647,6871.76
800,000,»00
1,000 .00
131,301,►66
4,691,172,►00
50,000,»00
44,675,190,►46
500,000 »00
2,000,000 »00
27,316,187,►11
4,659,757!►76
27,735 »00
1,157,335;»62
C le a r
100,000 .00
4,912,568,►13
5,000,»00
3,451,882,.74
88,829,.60
1.000,»00
4,468,652 .25
»00
.00
2,128,637 .24
1,057,469,.34
C le a r
8,653,879 .61
C le a r

C le ar
C le a r
C le ar
100,000,»00
C le ar
C le a r
30,000,»00
C lear

1,539,594 .51
2,822,621 .09

C le ar

5,000,»00
1,500,¿00

C le a r

7,764,632»►04

298,505,823 .56

6 ,5 5 9 ,6 9 4 . 33
296,450» 58

C le a r

504,155,451,»41

.

9

o o
o o
o o

11th Ohio,

I
i

------------ ■----------------

1.375.799.83
370,844«►53
768,420,►58
13.863.906,»82
13,592,014«»64

§ 8

10th Ohio,

4 ,6 3 9 ,8 6 2 . 31

4,000..00
257 »30
2,565 .91 |

H

1stOhio,

1936«

^ D a ;.., " y n e

(Based

DISTRICTS

Inclusive,

and June l-i©, — 1 Inclusive
1937.
T1
a 1 X .S j — ¿-. P .y
. if

A c c o u n t a n d C o l l e c t io n s U n it
H e v ise d J u n e 1934

190,825 »81

4,303,256« ,97
14,473,647«►46
241,280«►20 !
7,192,342«►00
76,857,341« ►
11
45,267.280«►46

6,564,694,»33
297,950«»58

PhilippineIslands,

T otal,

298,505,823 *56

511,920,082t*45

/

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Monday, June 21, 1937.

Press Service
No. 10-61

The Bureau of Internal Revenues announced today that income tax collections
for the period June 1-19, inclusive, 1937, as,reported by telegraph by Collectors
of Internal Revenue, totalled $504,155,451.41.

The.collections for the com-

parable period in 1936 (June 1«20) were $298,505,823.56.
By districts, the collections for the two periods were as follows:
Deposited
June 1-20. 1936
Alabama
$
696,921^48
Arizona
220,899,76
Arkansas
331,164.10
1st California
8,840.668,38
6th California
8,362,220,70
Colorado
1,853,541.47
Connecticut
6,469,074.92
Delaware
6,860,298.09
Elorida
2,617,881,92
Georgia
1,660,312.73
Hawaii
1,565,755.05
Idaho
246,046.74
1st Illinois
23,296,328.20
8th Illinois
1,573,603.31
Indiana
4,089,117,48
Iowa
1,348,931.06
Kansas
905,285.79
Kentucky
2,250,164.78
Louisiana
1,580,455.43
Maine
894,901.69
Maryland, ineluding District
of Columbia
7,023,442.49
Massachusetts
13,168,345,70
Michigan
21,681,095,83
Minnesota
3,039,985*00
Mississippi
292,077.10
1st Missouri
5,430,398.35
6th Missouri
1,964,199.32
Montana
420,321.00
Nebraska
762,756,13
Nevada
379,835,81
New Hampshire
505,837,52
1st New Jersey
1,538,853,14
5th New Jersey 10,647,627,76
New Mexico
131,301.66
1st New York
4,691,172.00

Deposited
June 1-19. 1937
$

1,371,799^83
370,587,23
765,854.67
13,863,906.82
11,592,014.64
3,362,402,85
12,091,612,93
15,204,364,76
5,655,009.83
3,585,427.92
2,170,359,80
416,207.72
40,506,284.23
2,704,403.73
7,038,300.78
2,012,861.91
1,949,062.92
4,639,862.31
3,051,311.90
1,690,045.10

13,461,220,75
20,453,352,78
33,132,500,74
5,444,566,00
608,802,73
6,966,907.40
3,079,650,08
454,499.20
1,543,759,87
593,039,19
902,591,90
4,303,065,51
13,673,647,46
240,280.20
7,142,342.00

- 2 ~
Continued
Deposited
June 1-30, 1936
2nd Hew York
$
3rd Hew York
14th Hew York
21st Hew York
28th Hew York
Horth Carolina
Horth Dakota
1st Ohio
10th Ohio
11th Ohio
18th Ohio
Oklahoma
Oregon
1st Pennsylvania
12th Pennsylvania
23rd Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
1st Texas
2nd Texas
Utah
Vermont
Virginia
Washington, including Alaska
West Virginia
Wisconsin
Wyoming
Philippine Islands
TOTAL

Deposited
June 1-19. 1937
$

44,675,190.46
27,316,187.11
4,659,757.76
1,157,335.62
4,912,568.13
3,451,882.74
88,829.60
4,468,652.25
2,128,637,24
1,057,469.34
8,653,879.61
2,632,141.85
641,235,92
13,346,239.12
1,540,402.35
9,920,840.88
2,126,277.62
485,093.29
112,849.23
1,811,587.44
3,541,312.38
2,768,013.54
320,076,57
231,422.60
2,965,752,20
1,598,325.41
1,539,594.51
2,822,621.09
190,825.81
■---- •

$ 298,505,823.56

76,357,34ljll
43,267,280,46
7,518,999,13
2,223,243,75
7,955,218,42
5,470,135,77
123,757,67
7,305,276.02
4,231,349.24
2,082,706.79
16,940,475,79
3,970,547.86
1,216,369.88
19,375,096.50
2,273,560.57
19,050,915,43
3,113,300.00
960,802,86
139,995.58
3,018,135.67
6,072,771.23
5,459,300,67
660,562.98
398,672.02
6,286,861.13
3,149,707,89
2,635,014.39
6,559,694.33
296,450.58
-—

$

504,155,451.41

TREASURY DEPARTMENT
Washington
FOR RELEASE, MOHSIEO NEWSPAPERS,
Tuesday. Tuna 22. 193?.

Press Serrioe

6/21/37

«

y

!0

“

Secretary of the Treasury Morgenthau announced
last evening that the tenders for |50,000,000, or thereabouts,
of 273-day bills, dated June

IS*

1937, and maturing March 23,

1938, which were offered on June 18, were opened at the
Federal Reserve banks on June 21*
The total amount applied for was $127,407,000, of
which $50,120,000 was accepted*

The accepted bids ranged in

price from 99*636, equivalent to a rate of 0*480 percent per
annum, to 99*553, equivalent to a rate of about 0*589 per
cent per annum, on a bank discount basis*

Only part of the

amount bid for at tha latter price was accepted*

The average

price of Treasury hills to be issued is 99*562 and the average
rate is about 0*578 percent per annum on a bank discount basis.

TREASURY DEPARTMENT
Washington

POE RELEASE, MORNING NEWSPAPERS,
Tuesday, June 22. 1937._______ _ .
6 /2 1 /3 7

Press Service
No. 10-62

Secretary of the Treasury Morgenthau announced last evening
that the tenders for $50,000,000, or thereabouts, of 273-day hills,
dated June 23, 1937, and maturing March 23, 1938, which were offered
on June 18, were opened at the Federal Reserve hanks on June 21.
The total amount.applied for was $127,407,000, of which
$50,120,000 was accepted.

The accepted bids ranged in price from

99.636, equivalent to a rate of 0.480 percent per annum, to 99.553,
equivalent to a rate of about 0.589 percent per annum, on a bank dis
count basis.
was accepted.

Only part of the amount bid for at the latter price
The average price of Treasury bills to be issued is

99,562 and the average rate is about 0.578 percent per annum on a
bank discount basis

m m m

IMPORTATIONS OF BSD C2BAR S B I T O S FROM CANADA
fm
mortsiom m n m cahadian trads A r n m m m
During tfae Perloâ Jenuary 1 ta Jüne 19, 1937
{Preliminary Figurée)

TOTAL ÏMPOHPS
Per Cent of ^uota
Customs Districts
Alaska
Buffalo
Dakota
Duluth and superlor
Oalveaton
Bavai!
Los Angeles
Massachusetts
Michigan
New Torfc
St« Lawrence
San Francisco
Ferment
Washington

(Squares}
947,913
90«4g£

5
91,991
980,089
94,993
14,306
2,990
2,998
1,790
1,293
8,990
2,742
902
99,990
366,340

N01S»
m e u t ire Order, dated Marc h 13, 1937, limite importations
of red cedar shlnglss tram Canada te 1,048,262, squares,
during First six sionths of calendar year 1937*
(prepared b y Division of Statistiee and Research,
Bureau of Cu atome )

11$

The Commissioner of Customs today announced preliminary
figure# for imports of red cedar shingles from Canada, under
the quota provisions of the Canadian Trade ¿grearsenfc, during
the period January 1 to June 1 9 , 1937, and the percentage that
such Imports bear to the total allowable under the quota
established by Executive Order, dated March 13, 1937, as
follows:

MR. GASTON
(Attention of Mr# Sohtmrz • Boom 289, Treasury Bldg#}
from

mr#

mmm:

There is attached for immediate release a tabulation showing
preliminary figures for imports of red cedar shingles from
Canada, under the quota provisions of the Canadian Trade Agreesent, during the period January 1 to June 19, 1957.
When the release has been mimeographed, please have 120
copies forwarded to Miss Henry, Boom 415, Washington Building.

JU t / M / W

IMPORTATIONS OF RED CEDAR SHINGLES FROM CANADA
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to June 19, 1937
(Preliminary Figures)

TOTAL IMPORTS
Per Cent of Q^iota
Customs Districts
Alaska
Buffalo
Dakota
Duluth and Superior
Galveston
Hawaii
Los Angeles
Massachusetts
Michigan
New Yorlf
St. Lawrence
San Francisco
Vermont
Washington

(Squares)
947,613
90.4^

5
51,561
380,083
64,993
14,366
2,560
2,338
1,750
1,293
6*650
2,742
602
53,330
365,340

NOTE:
Executive Order, dated March 13, 1937, limits importations
of red cedar shingles from Canada to 1,048,262, squares,
during first six months of calendar year 1937.
(Prepared by Division of Statistics and Research,
Bureau of Customs)

The Commissioner of Customs today announced preliminary
figures for imports of red cedar shingles from Canada, under
the quota provisions of the Canadian Trade Agreement, during
the period January 1 to June 19, 1937, and the percentage that
such imports bear to the total allowable under the quota
established by Executive Order, dated March 13, 1937, as
follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta

JUN 2 4 1937

MR. GASTON
(Attention of Mr. Schwarz - Room 889, Treasury Bldg.)
FROM MR. BENNER:
There is attached for immediate release a tabulation showing
preliminary figures for imports of red cedar shingles from
Canada, under the quota provisions of the Canadian Trade Agree
ment, during the period January 1 to June 19, 1937.
When the release has been mimeographed, please have ISO
copies forwarded to Miss Henry, Room 415, Washington Building.

TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE
Thursday, June 24, 1937.

Press Service
No. 10-63

The Commissioner of Custons today announced preliminary figures for im
ports of red cedar shingles from Canada, under the quota previsions of the
Canadian Trade Agreement, during the period January 1 to June 19, 1937, and the
percentage that such imports hear to the total allowable under the quota estab
lished by Executive Order, dated March 13, 1937, as fellows:

TOTAL IMPORTS
Per Cent of Quota
Customs Districts
Alaska
Buffalo
Dakota
Duluth and Superior
Galveston
Hawaii
Los Angeles
Massachusetts
Michigan
New York
St. Lawrence
San Erancisco
Vermont
Washington

(Squares)
947,613
90.4$

5
51,561
380,083
64,993
14,366
2,560
2,338
1,750
1,293
6,650
2,742
602
53,330
365,340

NOTE:
Executive Order, dated March 13, 1937, limits importations of red cedar shingles
from Canada to 1,048,262, squares, during first six months of calendar year 1937.

(yyvVVYVulA-»^*

For release
June 25 , 1937.

J, F. T* 0*Connor, Comptroller of the Currency, today approved
a compromise settlement with seventeen additional directors of the Harriman
National Bank and Trust Company of New York in the sum of #900,000.00 in an
action against them for common law and statutory negligence as directors.
Previous to the instant settlement, settlements were made with three other
directors totaling #126,731.15* bringing the total settlement to date in
the action against the directors in the sum of #1,026,731.15.

The settle

ments were made upon the recommendation of Frederick V. Goess, Receiver,
and his attorneys, Coniboy, Hewitt, O ’Brien and Boardman.
The Comptroller pointed out that under the law it is nec
essary for a court of record of competent jurisdiction to approve the

amMmmm***

compromise as fair and equitable to the depositors#
p

The matter

submitted today Jo the United States District Court.

This will mean that,

including the sums realized from settlements with the Clearing House Banks
heretofore made^titafc the depositors who have consented to said settlements
will receive substantially 100 cents on the dollar.
It is understood that this settlement will in no way affect
the prosecution of the action of the Harriman National Bank and Trust
Company pending against the New York Clearing House Association, which is
on appeal.
The Harriman Bank closed on March 3* 1933* with gross
liabilities of approximately #25*000,000.00.

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE
Friday, June 25, 1937.

Press Service
Ho. 10-64

J. E. T. 0* Connor, Comptroller of the Currency, today approved a compro
mise settlement with seventeen additional directors of the Harriman National
Bank and Trust Company of New York in the sum of $900,000.00 in an action
against them for common law and statutory negligence as directors.

Previous

to the instant settlement, settlements were made with three other directors
totaling $126,731.15, bringing the total settlement to date in the action
against the directors in the sum of $1,026,731.15.

The settlements were made

upon the recommendation of Frederick V. G-oess, Receiver, and his attorneys,
Conboy, Hev/itt, Obrien and Boardman.
The Comptroller pointed cut that under the law it is necessary for a
court of record of competent jurisdiction to approve the compromise as fair
and equitable to the depositors.
States District Court.

The matter was submitted today to the United

This will mean that, including the sums realized from

settlements with the Clearing House Banks heretofore made, the depositors who
have consented to said settlements will receive substantially 100 cents on the
dollar.
It is understood that this settlement will in no way affect the prosecution
of the action of the Harriman National Bank and Trust Company pending against the
New York Clearing House Association, which is on appeal.
The Harriman Bank closed on March 3, 1933, with gross liabilities of
approximately $25,000,000.00.

>~o0c—

treasury m m sm

WASfMSTOlf
FOR RELEASE, I0RKIKQ KISPAPIRS,
t e i t e ,.2m

.E L .m

Press Sertice

i*__________

6/2S/37
Secretary of l i t Treasury Morgenthau announced last
atoning that the tenders for 150,000,0001 or thereabouts, of
273-day bills, dated June 30, 1937, and maturing March 30,
1938, which were offered on June 25, were opened at the Federal
Resorts banks on June 28*
The total amount applied for was 1123,676,000, of
which #50,015,000 was accepted*

The accepted bids ranged in

price from 99*583, e^uitalent to a rate of about 0*550 per
cent per annum, to 99*519, e^uitalent to a rate of about
0*634 percent per annum, on a bank discount basis*

Only part

of the amount bid for at the latter price was accepted*

The

aterage price of Treasury bills to be issued is 99*531 and the
aterage rate is about 0*619 percent per annum on a bank dis
count basis*

TREASURY DEPARTMENT
Washington
POR.RELEASE, MORNING NEWSPAPERS
Tuesday. June 29. 1937,________
6/28/37.

Press Service
No. 10-65

Secretary of the Treasury Morgenthau announced last evening
that the tenders for $50,000,000, or thereabouts, of 273-day hills,
dated June 30, 1937, and maturing March 30, 1938, which were offered
on June 25, were opened at the Federal Reserve hanks on June 28*
The total amount applied for was $123,676,000, of which
$50,015,000 was accepted.

The accepted.hids ranged in price from

99.583, equivalent to a rate of about 0.550 percent per annum, to
99.519, equivalent to a rate of about 0.634 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 99.531 and the average rate is about 0.619 percent
per annum on a bank discount basis.

— cOo—

A plea to parents throughout the United States to protect
their children from the hazards attendant on the use of fireworks of
all kinds was made today by Surgeon General Thomas Parran of the U. S.
Public Health Service,
"Quoting figures of previous injuries and fatalities is an
inconclusive approach to this annual problem,” Dr, Parran said,

"The

National Safety Council and the National Society for the Prevention of
Blindness make public whatever figures are available, but in spite of
all of our best efforts accidents and deaths due to Fourth of July
celebrations are increasing yearly,| Automobile and drowning fatalities
increase enormously over the holiday week-end, but it is the bums,
with the resultant danger of lockjaw, and eye injuries suffered by
children which merit the most careful attention.

Holding firecrackers

in the hands, indiscrimina^^lkinBwfljgffif torpedoes? standing too near
high-powered rockets or pinwheels - the dangers in these procedures are
apparent.

Certainly very young children should not be permitted to

participate in these pyrotechnical displays at all, and older children
only when very carefully supervised.
"The thought that many children will be sightless the rest
of their lives because their parents gave in to their pleas to
,Q t.qo+

'iP H im Inilrr

is a sobering one indeed.

I cannot urge too strongly that every possible precaution be taken to
make the figures for 1937 prove that at last we have had a *safe and
sane Fourth of July.1"

TREASURY DEPARTMENT
(U* S. Public Health Service)
Washington
FOR IMMEDIATE RELEASE,
Thursday, July 1, 1937.

Press Service
Ho. 10-66

A plea to parents throughout the United States to protect
their children from the hazards attendant on the use of fireworks of
all kinds was made today hy Surgeon General Thomas Parran of the
U. S. Public Health Service.
’’Quoting figures of previous injuries and fatalities is an
inconclusive approach to this annual problem,” Dr. Parran said.

’’The

National. Safety Council and the National Society for the Prevention
of Blindness make public whatever figures are available, but in spite
of all of our best efforts accidents and deaths due to Fourth of July
celebrations are increasing yearly.
nAutomobile and drowning fatalities increase enormously over
the holiday week-end, but it is the burns, with the resultant danger
of lockjaw, and eye injuries suffered by children which merit the
most careful attention.

Holding firecrackers in the hands, indiscrimi

nate explosion of ’torpedoes,1 standing too near high-powered rockets or
pinwheels - the dangers in these procedures are apparent.

Certainly

very young children should not be permitted to participate in these
pyrotechnical displays at all, and older children only when very
carefully supervised.
’’The thought that many children will be sightless the rest of
their lives because their parents gave in to their pleas to ’play with
firecrackers’ is a sobering one indeed.

I cannot urge too strongly

that ovc.ry possible precaution be taken to make the figures for 1937
prove that at last we have had a ’safe and sane Fourth of July.
— -oOo-

TREASURY DEPARTMENT'
WASHINGTON

FOR IMMEDIATE RELEASE
Friday, July 2, 1937.

‘ .

Press Service
No.. 10-67

The following statement is made today by Secretary Morgenthau:
The net results of the financial operations of the Government
-for the fiscal year 1937, are now available on the basis of figures
appearing in the Daily Treasury Statement for June 30, 1937.

Total

receipts amounted to $5,394,000,000 and total expenditures, exclusive
of debt retirement, were $8,001,000,000, resulting in a net,deficit
of $2,707,000,000* as compared with $4,(361,000,000 for 1936.
The following table classifies expenditures on the basis which
will be used in the Daily Statement of the United States Treasury
beginning July 1, 1937.

It is believed that this form of statement^

is an improvement over that heretofore used since it sets out more
clearly those items wherein repayments are offset against expendi
tures and differentiates them from direct expenditures chargeable
wholly against the general receipts of the Government.

It also

segregates expenditures which are primarily for investment purposes
and for transfer to trust accounts.

The table shows (l) the actual

receipts and expenditures for the fiscal year 1936; (2) the actual
receipts and expenditures for the fiscal year 1937; (3) the estimated
receipts and expenditures as contained in the Budget Message of last
January; and (4) the revised estimates of receipts and expenditures
as contained in the President’s Message of April 20, 1937:

2

-

-

RECEIPTS AND EXPENDITURES

Actual for 1936 and 1937, estimates for 1937
as contained in the 1938 Budget, and revised
estimates included in the President's message
of April 20, 1937.
______ ________ { m i l l i o n s

o f

f ln T I w r « )

________

Revised
estimate for
for 1937 1937,in the
ACTUAL
in the President's
Message of
1937 Increase (•+) 1938
Decrease (-) Budget Apr. 20.1937
Estimate

1936

Increase T+T
or decrease M
of 1937 actual
as compared
with revised
estimate

bceipts:

Incometax.............. .
¡Taxesunder Social Security Act^•...
Other internal revenue..... .
¡Customs.
Miscellaneous receipts..............

$1,427
•
2,086
387
216

$2,158
252
2,188
486
210

Total receipts................

4,116

731
252
102
99
6

$2,373
325
2,491
447
192

$2,105
295
2,149
465
210

5.294

+1.178

5,828

5,224

610
86
28
764
576
543
486
749
44

866
42
183
856
580
533
386
866
49

+ 256

44
155
92
4
10
100
117

974
50
175
888
589
468
398
835
48

891
45
186
840
577
518
379
840
44

3,886

4,361

+ 475

4,425

4,320

499

13

- 486

12

12

2,039
317

2,639
363

2,744
389

2,605
364

4 34
1

2,855

3,015

4 600
4 46
4- 160

3,145

2,981

4 34

125
18
425
217
351

4 13
4 91
4 3

563
225

559
225

- 2
4 40

47

47

835

831

4 38

$+
+
+■
+

$+
+
4
-

53
43
39
21
-

+ 70

ipenditures:
General:
Departmental (including general
public works program)...........
Postal deficiency.
Social Security Act.
National defense
Veterans' Administration..... .
Agricultural Adjustment program...
Civilian Conservation Corps.. »
Interest on the public debt....
Refunds...
Sub-total.....
Recovery and relieif:
Relief♦.*............... ..
Public Works (including Works
Progress Administration)........
Other.............................
Sub-total
Revolving funds (net):
Commodity Credit Corporation....••
FarmCredit Administration... ..
Reconstruction Finance Corporation
Other.....
•••••••••••».

a
a
a

112
18
334
220
244

-

+•
4+•
-

+

242 a
15 a
95 a
, 4 156
. 166
a

125
13
425
234
329

a
a
a

mm
mm

4
4
4*
44
4

25
3
3

16
3
15
7
26
5

4 41
4

1

-

Sub-total.....................

130
a 33
a 239
64
a 78

Transfers to trust accounts, etc.
Adjusted Service Certificate Fund.
Old-Age Reserve account••»••»•••••
Government employees retirement
funds (TJ. s. share)...... ..

1,773
41

557
265

Sub-total.....................

1,814

869

Total expenditures (exclusive
of debt retirements)

8*477

8,001

- 476

8,076

7,781

4 220

»tdeficit.................

4,361

2,707

- -1,654—

2,248

2,557

♦ 150

Excess of credits, deduct.

a

47

-

4

-1,216
■f 265
__ 4

6_
- 945

a

+ 107

4,

The total general receipts for the fiscal year 1937 exceeded those
for 1936 by $1,178,000,000.- A large part of this increase came from
income taxes which produced $731,000,000 more in 1937 than in 1936.
Taxes under the Social Security Act,.which were collected for the first
time in the fiscal year 1937, amounted to $255,000,000.

Other internal

revenue taxes, including processing taxes on farm products, and the
revenue from customs duties were each about $100,000,000 greater than
1936.

Miscellaneous receipts remained about the same as last year.
The total receipts for the fiscal year 1937 were $5,294,000,000,.

or $70,000,000 more than the revised estimates contained in the Presi
dents Message of April 20.

Income taxes produced $53,000,000 more

than the revised estimate; other internal revenue $39,000,000; customs
$21,000,000 more, while taxes under, the Social Security Act were
$43,000,000 less than the revised estimate due almost entirely to the
lag in collections.
The general operating expenditures of the Government set put on
the above statement show an increase in 1937 over 1936 of $475,000,000.
The increases in expenditures were $155,000,000 under the Social Se
curity Act, about $180,000,000 for expansion of the general public
works program, $92,000,000 for the national defense,. $117,000,000 for
interest on the public debt, and about $85,000,000 chiefly in depart
mental..

The decreases were $100,000,000 on account of expenses of the

Civilian Conservation Corps, $44,000,000 on account of the postal
deficiency, and $10,000,000 on account of Agricultural Adjustment program.

- 4 Expenditures for recovery and relief were $160,000,000 greater than
the expenditures in 1936 due almost entirely to the expenditures made
during the late summer and fall to relieve suffering caused by severe
drought conditions in many sections of the country.
was spent for this purpose.

About $165,000,000

The net repayments in the revolving funds

exceeded those of last year by $166,000,000..
Expenditures under the item "Transfers to the Trust Accounts, etc.,"
show a reduction of $1,216,000,000 on account of the Adjusted Service
Certificate Fund, while expenditures for' the Old Age Reserve Account,
which appears in expenditure figures for the first time, amounted to
$265,000,000,
The general operating expenditures, including the general public
works program, for the fiscal year 1937 exceeded the revised estimate
of April 20 by $41,000,000.

The expenditures for recovery

and relief

were $3,015,000,000, an increase over the revised estimate of $34,000,000.
The revolving funds show a net credit of $244,000,000, or $107,000,000
less than the revised estimate.

Under the item "Transfers to Trust

Accounts, etc," the expenditures amounted to $869,000,000 as compared
with the revised estimates of $831,000,000, a difference of $38,000,000,
due entirely to an increase in expenditures for the Old Age Reserve
Account.

This was caused by an investment for the Old Age Reserve Ac

count made in June of this year which, at the time the revised esti
mates were prepared, was expected to be made in the fiscal year 1938.
However, because of a question as to whether the funds appropriated
for the fiscal year 1937 would

be available for investment in the fiscal year 1938, it was decided to
make the investment of this additional amount in June rather than in
the next fiscal year*
THE? PUBLIC DEBT
The gfoss public debt on June 30, 1937, amounted to $36,425,000,000
as compared with $33,779,000,000 on June 30, 1936, an increase of
$2,646,000,000.

The following table shows the principal items* other

than refunding transactions, which accounted for the increase in the
public--., debt (in millions of dollars):
Gr^ss public debt June 30, 1937. . . * . . i . $36,425 M
V
•*
Gros'$ public debt June 30, 1936.
>

.

33,779 M

Increase « • .. . . . • . . .

• * .

$ 3,646 M

Increase is made up.of the following items;
Government Life Insurance
Fund and veterans bonds.
Old Age Reserve Account. • . • • •
Government retirement
funds,, t • m
i i
Net deficit, excluding above.
items. * , i
Less decrease in general
fund, excluding in
active gold, . . ; « . ; ; ; .

^

•

;

•

$ 557 M
265
47

. $1,838 M

i

1.215

Excess of expenditures in
trust accounts, etc.^i ex>cluding retirements of
National bank notes. ; • • • * • * * • • •
Inactive gold*

623

«
.

67
1,087

2,646

Sinking Fund!

The redemptions of the public debt during the past

year applied to the sinking fund amounted to $104,000,000.

For the

past two years the Treasury has followed the policy of applying to the
sinking fund only the amount of Treasury notes and Liberty bonds redeemed
in cash and has not purchased any Government securities in the market
or reduced exchange offerings in refunding operations in order to
further reduce the available balance in the sinking fund.
has left a substantial credit in the sinking fund.

This policy

To have exhausted

this full credit would have made it necessary for the Treasury to in
crease its -cash offerings of securities without any net change in public
debt.

The total amount available in the sinking fund for the fiscal

year 1937 was $723,000,000.

After deducting the amount applied to

cash redemptions * namely $104,000,000, the amount in the sinking fund
carried over to the fiscal year 1938

is $619,000,000 which together

with the appropriation available for the fiscal year 1938, will make
a total credit in the sinking fund of approximately $1,200,000,000.
It appears advisable to continue to apply the sinking fund only to
cash redemptions until such time as the total receipts of the Govern
ment exceed the total expenditures, exclusive of debt retirement.
It will then be possible for the Treasury to purchase securities in
the market for account of the sinking fund, or to refund only a
portion of maturing issues, leaving the balance to be retired through
sinking fund Operations.
Following is a statement of the public debt for the fiscal years
ended June 30, 1936 and 1937, showing the debt classified by character
of issues, as between those outstanding in the hands of the public and
those special issues held for account of Government trust and special
funds

7
STATEMENT OF THE OUTSTANDING PUBLIC DEBT ON
JUNE 30, 1936 AND JUNE 30, 1937
:* (in millions of dollars)

1936
.Held outsihe"Treasury
Prewar bonds .............
Treasury bonds .... *......
U. S. Savings bonds .......
Adjusted Service bonds ....
Treasury notes ...........
•— Treaaury~-b-llls ............
i . Matured debt -uh'.'whicir
interest has ceased'
Debt bearing no interest

Held for account of trust
and special funds
Government Life Insurance
f u n d .............. ......
Old-age Reserve account ...
Government Retirement funds
Adjusted Service Certificate fund ...............
Unemployment Trust fund ...
Postal Savings System ....
Federal Deposit Insurance
Corporation
.

1937

200
17,168
316
945
11,381
2,353

198
19,936
800
389
10,617
2,303

169
620

119
506

33,152

34,868

281

‘
500
267
315

127
19
100

38
312
30

100

95

627

1,557

33,779

36,425

1937
Increase (4 )
decrease (-)
2
4 2,768
4 484
556
- 764
50
-

-

-

50
114

4 1,716

4

4
4
4

500
267
34
89
293
70

'

5

4

930 '

4 2,646

CONTINGENT LIABILITIES
In addition to the gross public debt, the Government has certain
contingent liabilities in the form of guarantees as to principal and
interest on outstanding obligations of the Reconstruction Finance
Corporation, Federal Farm Mortgage Corporation, Federal Housing Admin— .
istration, and the Home Owners’ Loan Corporation,, aggregating as of
June 30, 1937, about $4,725,000,000 as compared with a total of
$4,750,000,000 outstanding on June 30, 1936, a decrease of $25,000,000.

8
LOANS AND INVESTMENTS
On May 31, 1937, the Government held net assets in the form of loans
and other investments of Governmental corporations and credit agencies in
the amount of $3,889,000,000, a decrease of $406,000,000 as compared with
corresponding net assets held on May 31, 1936.

This reduction represents,

mainly, net recoveries hy the Government from this source during that year,
and to the extent that they were deposited in the Treasury during the fis
cal year 1937, operated to reduce the net deficit for that fiscal year.
\
FINANCING OPERATION^.
\

During the fiscal year 1937 the Treasury 'refunded four maturing issues
of Treasury notes aggregating $1,803,079,800 on h lower interest "basis.
Maturing notes amounting to $1,751,364,500 on which the annual interest
charge was $43,989,957, equivalent to a rate of 2.512$ were exchanged for
new Treasury notes and Treasury bonds amounting to $1,751,364,500, on which
the annual interest charge amounts to $42,508,472, equivalent to a rate
\\ •'
of 2.427$.

c

y

New issues of Treasury notes, Treasury bonds and United States Savings
bonds to the public during the fiscal year 1937 amounted to $4,309,000,000,
or $3,815,000,000 less than the ag;gregate of similar issues during the
fiscal year 1936.

The computed rate of interest On Treasury notes, Treasury

bonds and United States Savings Bonds issued to the public during .the
fiscal year 1937 was 2.357$.
The. computed rate of interest on the total interest-bearing debt in
creased from 2.559$ on June 30, 1936 to 2.582$ on June 30, 1937,

Because

of the increase in the debt during the last two years, total interest pay
ments increased from 0749,000,000 in 1936 to $866,000,000 in 1937.
The following table shows the issues of Treasury notes, Treasury
bonds and Unit-ed States Savings Bonds offered by the Treasury during the
fiscal year 1937,-.including refimding operations;

^_

- --9 Issue
Date

Maturity
date

Rate

0-1941

Dec, 15, 1936

Dec, 15, 1941

1-1/4$

$204,425,400

D-1939

June 15, 1937

Sept.15, 1939

1-3/8$

426,554,600

• A-1942

June 15, 1937

Mar. 15, 1942

1-3/4$

426,349.500

Amount
Issued

Treasury Notes*

Total notes.. • •••'«ft*# $1,057,329.500
[Treasury Bonds;
1956-59

Sept.15, 1936

Sept.15, 1959

2-3/4$$

1949-53

Dec. 15, 1936

Dec. 15, 1953

2-1/2$

1,302,658,450

1949-53

Dec. 15, 1936
2-1/2$
Dec. 15, 1953
(issued as of Mar. 15, 1937)

483,845,600

Total Treasury bonds,.

2.768,352.100

United State s Savings bonds (net issues),.,,,
Tota,! bonds and notes.

981,848,050

483,524.088
.4,309,205*838

. The amount of Treasury tills outstanding June 30» 1937, was
$2,303,000,000, as compared with $2,353,000,000 outstanding June 30,
1936, a decrea.se of $50,000,000«
The major Treasury financing operations during the fiscal year 19-37
Were carried out on four quarterly dates, on September 15 and December
15, 1936, and March 15 and June 15, 1937.
'The September 15, 1936, financing consisted of an issue of 2-3/4$
Treasury bonds of 1956-59 in exchange for 1-1 /2$ [Treasury notes of
series D-1936 maturing on September 15, 1936, and at the same time cash
subscriptions for the Treasury, bonds were invited, at par and accrued

- to -

interest, for $400,000,000 or thereabouts.

The amount of 1-1/2$.Treasury

notes, series D-1936 exchanged for 2-3/4$ Treasury bonds of 1956-59 was
$511,870,800,

In addition the Treasury issued for cash 2-3/4$ Treasury

"bonds of 1956-59 in the amount of $469,977,250,

The combined issue of

Treasury bonds for cash and exchange amounted to $981,848,050,
On December 7, 1936, the Secretary of the Treasury offered for
cash, at par and accrued interest, $700,000,000, or thereabouts, of .
2-l/2$ Treasury bonds of 1949-53, and at the same time offered an ad
ditional amount of the bonds and an issue of five-year l-l/4$ Treasury
notes of series C-1941, on an exchange basis, par for-par, in payment
of which only 2-3/4$ Treasury notes of series B-1936, maturing December"-15, 1936, or 3$ Treasury notes of series C-1937, maturing February 15,
1937, could be tendered.

There were $357,921,200 of notes of series

B-1936 3,nd $428,730,700 of notes of series C-1937, outstanding and
eligible for exchange either for the new bonds or the new notes.
The exchanges were made par for par with an adjustment, in the case
of exchanges of 3$ Treasury notes of series C-1937, of accrued interest
as of December 15, 1936,

The amount of 2-l/2$ Treasury bonds of 1949-53

issued for cash was $751,435,750,

The amount of exchanges of maturing

2-3/4$ Treasury notes of series B-1936 for 2-1/2$ Treasury bonds of
1949-53 was $255,206,200, and the amount of exchanges of 3$ Treasury
notes of series C-1937, for 2-1/2$ Treasury bonds of 1949-53 was
$296,016,500, resulting in a total exchange issue of $551,222,700,
The combined issue of Treasury bonds for cash and exchange amounted
to $1,302,658,450,

The amount of exchange of maturing 2-3/4$ Treasury

notes of series B-1936 for 1-1/4$ Treasury notes of series C-1941 was

~ ii ...

$93,960,200, and tho'amount of exchanges of 3$ Treasury notes of series
01937 for 1-1/4$ Treasury notes of series 01941 was $110,465,200,
resulting in a total exchange issue of Treasury notes of $204,425,400,
On March 8, 1937, the Secretary of the Treasury offered an ad
ditional issue of 2-l/2$ Treasury bonds of 1949— 53,,- dated Decembei* 15,
1936, in exchange for 3$ Treasury notes of series B-1937, maturing
April 15, 1937,-in the amount of $502,361,900, the exchanges to he
made par for par, with an adjustment of accrued interest as of March 15,
1937, on the bonds issued and the notes exchanged.

On March 15, 1937,

the additional amount of <Kl/2$ Treasury bonds of 1949— 53, dated
December 15, 1936, issued in exchange for Treasury notes of series
B—1937, was $483,845,600.
On June 7, 1937, the Secretary of the Treasury offered for cash,
at par and accrued interest, $400,000,000, or thereabouts, of 1-3/8$
Treasury notes, series I>-1939, dated June 15, 1937, and maturing
September 15, 1939, and $400,000,000, or thereabouts, of 1-3/4$
Treasury notes of series A-1942, dated June 15, 1937, and manuring
March 15, 1942.

On June 15, 1937, the amount of 1-3/8$ Treasury

notes of series D-1939, issued for cash was $426,554,600, and the
amount of 1-3/4$ Treasury notes, series A-1942, issued for cash
was $426,349,500, or total issues of $852,904,100,

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Ssiyto.,,

m

£ K

W

Press Service

lL
____

7/2/3?

'0 'w ®
Acting Secretary of the Treasury Taylor announced

last evening that the tenders for $6&#600#0O0f or thereabouts,
of 273-day bills, dated July 7, 1937, and maturing April 6,
1938, which were offered on June 30, were opened at the Federal
Reserve banks on July 2«
The total amount applied for was ¿133,100,000, of
which #50,010,000 was accepted*

The accepted bids ranged in

price from 99*678, equivalent to a rate of about 0.425 per
cent per annum, to 99.607, equivalent to a rate of about 0*518
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 99.628 and the average
rate is about 0.490 percent per annum on a bank discount basis.

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Saturday, July 3, 1937,_____ _
7/2/37

Press Service
No. 10-68

Acting Secretary of the Treasury Taylor announced last evening
that the tenders for $50,000,000, or thereabouts, of 273-day bills,
dated July 7, 1937, and maturing April 6, 1938, which were offered on
June 30, were opened at the Federal Reserve banks on July 2.
The total amount applied for was $133,100,000, of which $50,010,000
was accepted.

The accepted bids ranged in price from 99.678, equivalent

to a rate of about 0.425 percent per annum, to 99.607, equivalent to a
rate of about 0.518 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 99.628 and the average rate is
about 0,490 percent per annum on a bank discount basis.

— oQo*—

COMPARATIVE STATEMENT OP INTERNAL REVENUE COLLECTIONS
Month of June, 1937^ and 1936
Fiscal years 1 9 3 7 aud 1936

(June, 1937 figures from telegraphic reports)
Month of June
1936
1937
Back Corporation
Back Individual

Total Back Income Taxes

Current Corporation
Current Individual

Total Current Income Taxes

Total Income Taxes
Excess Profits Tax
All Liquor Taxes
R. R. Employment Taxes
S. S. Title VIII Taxes
S. S, Title IX Taxes
A.A.A. Taxes
All other taxes

Grand Total
AftQr6oi-t-S-

Fiscal Year
- 1937

1936

$32,09^,771.60
11,371.170.10

$11 ,219 ,446.48
9,363.556.95

43 ,465 ,941.70

20,533,003.43

259.064,173.60

213.557,591.05

249 ,584 ,357.45
264 ,613,138.4i

l4S,53g,1^3.08
133.965,832.43

393.955,576.34
996,361,239.75

610,014,1*32.15
529,366,280.49

514,197,495.86

282 ,503 ,975-51

1 ,290 ,316 ,866.09

1,199.330,712.34

557 .663 ,437.56
4 ,551 ,530.97
53 ,334 ,761.17
31 ,424.69

303,086,973.94
4,909,554.15
50,138,668.87
1*8,278.74
-

120,01+1,51*9.38

2,149,381,039.69
24,967,118.60
592,301,181.95
286 ,730.53
207 ,1*8 0 ,81*6 .7 6
57 ,928 ,123.72
1,620,093,133.57

1,412,938,303.89
14,509,290.47
505 ,464 ,037.10
48,278.74
—
71,637,206.70
1,515.611,264.19

1*78 ,228 ,621.86

4,652.503,174.88

3 ,520 ,208 ,381.09

52,124,503.43
1,013,702.03
158,071,023.34

826,790,333.19

J%■**
3 ,591.72

$128,507 ,797.40
$160,933.173.22
98 ,131 ,000 .38 .
85,049,793.65

m m s i m x DSPAR'TivM'
Washington

POE EEL£ASE, MQBHIH& 332WSB.FERS,
Sunday, July 4, 1937*

[0

^

Commissi one r Guy T. Helvering today made public
preliminary figures of internal revenue collections for the month
of June,# 1937, and the fiscal year 1937 in the following comparative
statement with 1936 fiscal year figures;

TREASURY DEPARTMENT
Washington

POR RELEASE, MQRNIHGr NEWSPAPERS,
Simdav. Ju ly 4. 1937.__________
'
7 /3 /3 7 .

Press Service
No. lfr-69

Commissioner Guy T. Helvering today made public
preliminary figures of internal revenue collections for the
month of June, 1937, and the fiscal year 1937 in the follow
ing comparative statement with 1936 fiscal year figures:

COMPARATIVE STATEMENT OE INTERNAL REVENUE COLLECTIONS
Month of June, 1937» &u<i 193&
Eiscal years 1937 and 193 &
(June, 1937 fig u re s from teleg ra p h ic rep orts)

Month of June
1936
1937
Back Corporation
Back Individual

Total Back Income Taxes

Current Corporation
Current Individual

Totq,l Current Income Taxes

Total Income Taxes
Excess Profits Tax
All Liquor Taxes
R. R. Employment Taxes
S. S. Title VIII Taxes
S. S. Title IX Taxes
A.A,A. Taxes
All other taxes

Grand Total

Fiscal Year
1937

1936

$3 2 .09 ^,7 7 1 .6 0
1 1 ,3 7 1 ,1 7 0 .1 0

$ll,ëiS,UU6 .Us:
9.363,556.95

$160 ,9 3 3 ,1 7 3 .2 2
93,131,000.38

$128,507,797.UO
85,0 U9 ,7 9 3 .6 5

U3 .U6 5 .9 U 1 .7 0

20,583.0 0 3 .U3

259 .06 u.1 7 3 .6 0

2 1 3 ,5 5 7 ,5 9 1 .0 5

2H9,5SU,357.!+5
26H, 6 1 3 ,138.111

1*4-3,538,1*4-3.08
1 3 3 ,9 6 5 ,S3 2 .U3

893,955,576.3U
996 ,3 6 1 ,289.75

610,01*4-, **32.35
5 3 9 ,3 6 6 ,230.Î+9

5xU.197.U95.s6

222 ,5 0 3 ,9 7 5 .5 1

1,390,316,866.09

1 ,199 ,38 0 ,7 1 2 .sU

5 5 7 .6 6 3 .U3 7 .5 6
u,551.530.97
53.33^,761.17
3 i.U2U .69
5 2 .12 U.5 0 3 .U3
1,013,702.03
1 5 8 ,0 7 1 .0 2 3 .3U

3 0 3 .0 s6 .9 7 8 .9 u
U.909.55U.15
5 0 ,1 3 3 ,6 6 3 .8 7
**3,278.7*+
3,591.78
1 2 0 .0 u 1 .5u 9 .3 s

2 ,IU9 ,3 8 1 ,039.69
2^,967,118.60
592,301,131.95
236,730.53
207,Hso , 3H6.76
57,983,123.78
1 ,620 ,0 9 8 ,1 3 3 .5 7

1 .U1 2 ,9 3 8 ,30 3.8 9
1 U. 509 .29 0 .U7
5 0 5 ,U6*4-,0 3 7 .1 0
**3,273.7**
—
—
7 1 ,6 3 7 ,2 0 6 .70
1 ,5 1 5 ,6 1 1 ,26**.19

326,790,383.19

1*78,228,621.86

—

U,652,503.17^.83

3,520,208,381.09

mue****
where he offends.

'— mmwm nuLii

The suicide, or potential suicide, fares little better

In the event that the atteerbt‘~xs not successful, an ambulance is called, j
the victim is rushed to a h n-rnTThp
le is arrested on j^jmse^^Banor charge.

rr he has sufficiently recover«
But no

rea3>&i4i^npt is made to

attempt at self destruction, or help him adjust
himself to the world la

^

■
1........ . Iff

This is the second International Congress on Mental Hygiene, the
first one having been held in Washington^ÉNHHti in 19SO.

At that time much

stress was laid on the importance of collecting uniform statistics, so that
data compiled in
another.

one country would be readily translatable in terms of

This idea has not as yet been developed, Dr. Treadway said, and

he hopes that this will be one of the major results of this 1937 Congress.
The American Delegati ondili be composed.

ÉÜÉÉ

jP "Di i

Bpeadwayj ofl
Mr. Clifford W. Beers, Secretary, National Committee for Mental
Hygiene
^ Dr. Martin Cooley, Medical and Hospital Service, Veterans Admini
stration
Dr. Walter Miles, Institute of Human Relations, Yale University,
New Haven, Conn.
| Medical Director Claude C. Pierce, United States Public Health
Service, Paris, France ^
Dr. Arthur Ruggles, President, National Committee for Mental
Hygiene, and Superintendent of Butler Hospital, Providence,
R. I

Because the general tendency in the United States in dealing \
with problems of mental hygiene is toward sociological measures, rather
th«n biological measures as exemplified by human sterilization, the
International Congress on

n Paris, France,

frj>m July 19th - 24th, is of

to this country, Dr*
I
Assistant Surgeon General !

ter L. Treadway said
the U. S. Public H

American Delega-

t/Lon, and is
"A cursory examination of the titles of some of the papers to
•y

u M u -u u y jo v / u o

u c x u g
v uU
g gH
u u niir
u y
being
Ul'U
u jl

x

u a

u x s v / u e e x v u ,

the wide range in the phases of mental hygiene which will be covered.
........ ..
The discussion of
human sterilization and its applica
bility to mental hygiene; the relation of education to mental hygienes^

’Mrmtnl Ifyifci^ijj)'1lii” llie Hume, 1 tA1aneiij y l In fim oflJ .■ garw f to

euzow

how th is

part of the program will be treated .y^Of great interest is the wide
divergence of opinion implicit in the titles of two papers, fRole of
Heredity and Constitution as the Gauses of Mental Disease^’ and ’Role of
Social Conditions as the Genesis of Mental Disorders^1
nThe only paper to be read by a member of the American delegation will
be *Prophylaxis in Alcoholism,* by Professor Walter Miles g*of the Instiejr
>
tute of Human Relations^ Yale University^
The subjects of suicides and chronic alcoholism should also be
of particular interest to the United States, Dr. Treadway said, as vir
tually no provisions are made either for the rehabilitation of the chronic
alcoholic or those individuals with suicidal tendencies.

%»

Pin frftfî

"A min ibyuiJKwr**’

TREASURY DEPARTMENT
U. S . Public Health S ervice
Washington
FOR IMMEDIATE RELEASE,
Tuesday, July 6, 1937.

v
\0

/0-

Dr. W alter L . Treadway, A s sis ta n t Surgeon
General in the United S ta te s P u b lic Health S e r v ic e , i s
scheduled to s a i l tomorrow aboard the S. S . President
R oosevelt to head the American d e le g a tio n at the I n te r 
n atio n al Congress on Mental Hygiene in P a ris from J u ly 19
to 24.
Before le a v in g Washington fo r New York,
Dr. Treadway said the meeting would be of s p e c ia l in te r e s t
to t h is country because con sid erab le a tte n tio n w ill be
given to b io lo g ic a l measures fo r

deal ing with

problems of mental hygiene, whereas the tendency in th is
country i s to emphasize s o c io lo g ic a l measures ft in that
fie ld .
JQK "A cursory examination of the t i t l e s o f
some of the papers to be read , and the su b je c ts being brought
up f o r d is c u s s io n ,” said the d octor, " i l l u s t r a t e s

\

treasury department

TJ. S. Public Health Service
Washington
ECR D/ÍMEDIATE RELEASE,
Tuesday. July 6. 1937.
7/6/37.

Press Service
No• 10-70

Dr. Walter L. Treadway, Assistant Surgeon General in the
United States Public Health Service, is scheduled to sail tomorrow
aboard the S. S. President Roosevelt to head the American delegation
at the International Congress on Mental Hygiene in Paris from July
19 to 24.
Before leaving Washington for New York, Dr. Treadway said
the meeting would he of special interest to this country because
considerable attention will be given to biological measures for
dealing with problems of mental hygiene, whereas the tendency in.
this country is to emphasize sociological measures in that field.
”A cursory examination of the titles of some of the papers
to be read, and the subjects being brought up for discussion,” said
the doctor, ”illustrates the wide range ,in the phases of mental
hygiene which will be covered.

The discussion of human steriliza

tion and its applicability to mental hygiene;
education to mental hygiene;

the relation of

mental hygiene in the home;

abnormal

infancy - all these serve to show how this part of the program will
be treated.
M0f great interest is the wide divergence of opinion implicit
in the titles of two papers, *Role of Heredity and Constitution as
the Causes of Mental Disease1 and *Role of Social Conditions as the
Genesis of Mental Disorders,*

The only paper to be read by a member

2

of the American delegation will he *Prophylaxis in Alcoholism,1 by
Professor Walter Miles of the Institute of Human Relations at Yalê
University.H
The subjects of suicides and chronic alcoholism should also
he of particular interest to the United States, Dr. Treadway said,
as virtually no provisions are made either for the rehabilitation
of the chronic alcoholic or those individuals with suicidal ten
dencies#
This is the second International Congress on Mental Hygiene,
the first one having been held in Washington in 1930.

At that time

much stress was laid on the importance of collecting uniform statis
tics, so that data compiled in one country would be readily trans
latable in terms of another.

This idea has not as yet been developed,

Dr. .Treadway said, and he hopes that this will be one of the major
results of this 1937 Congress#
The American Delegation, in addition to its chairman, will be
composed of:
Mr. Clifford W. Beers, Secretary, National Committee
for Mental Hjygiene
Dr. Martin Cooley, Medical and Hospital Service,
Veterans Administration
Dr. Walter Miles, Institute of Human Relations,
Yale University, New Haven, Conn.
Medical Director Claude C. Pierce, United States
Public Health Service, Paris, Prance
Dr# Arthur Ruggles, President, National Committee
for Mental Hygiene, and Superintendent of
Butler Hospital, Providence, R,. I#

-oOo-

- 3 Finance came in person to the United Spates to conduct the negotia
tio n s which have ju s t been concluded«
The S ecretary o f the Treasury g r e a tly a p p recia te s having
had t h i s opportunity f o r p erson al con tact w ith the Finance Minister
o f China and o f undertaking in conference with him to fu rth e r the
w elfare o f both countries«
Oo

-

2

-

o f monetary reform which were then being adopted by the Chinese
Government, and th e arrangements made w ith the United S ta te s would
in su re the s t a b i l i t y o f th e Chinese currency, and t h is would inevit
ab ly le a d to g r e a te r economic improvement and p ro sp e rity o f the
Chinese people«
Arrangements have now been made through which th e Government
o f China w i l l purchase from the United S ta te s Treasury a substantial
amount o f gold*

To a id the Chinese Government thus to augment its

go ld re se rv e s, and in accordance w ith the terms o f the United States
S ilv e r Purchase Act o f 1934, the United S ta te s Treasury w i l l purchase
an a d d itio n a l amount o f s i l v e r from the Chinese Government»
The United S ta te s Treasury w i l l a lso broaden the scope of thej
arrangements under which the C entral Bank o f China has been enabled,
under con d ition s which safeguard the in t e r e s t s o f both countries, to
ob tain d o lla r exchange f o r currency s t a b iliz a t io n purposes.
Both the Secretary o f the Treasury and th e Finance Minister I
b e n e fic ia l
I
o f China are g r e a tly g r a t i f i e d by th e / r e s u its to both countries riilol
have been the consequence o f t h e ir understanding reached l a s t year,
and they are eq u a lly g r a t i f i e d to be ab le to announce fu rth e r progresi
in t h e ir cooperation»

I t i s a source o f s a t is fa c t io n to them that

the program o f monetary reforms and currency s t a b iliz a t io n in China
has been c a r r ie d out w ith g re a t success and has been accompanied by
an In crease o f trad e between China and oth er n ation s, p a rtic u la r ly
the U nited S ta te s , which occupies the f i r s t p la ce in C hin a's

foreign

trade»
Because o f h is d e sire to express the a p p recia tio n o f the
Chinese Government and th e people o f China, the Chinese M inister of

The monetary cooperation which re s u lte d from the conference
o f the S ecretary o f th e Treasury o f the U nited S ta te s o f America
w ith re p re se n ta tiv e s o f the Chinese M in istry o f Finance in May, 1938,
haa con trib u ted to th e very su c c e s s fu l fu n ction in g o f the new Chinese]
monetary system with b e n e fits both to the in te r n a l economy o f China
and to American trade*
We are now a b le to announce fu r th e r p rogress in monetary
cooperation between the two co u n tries in p u rsu it o f the understand*
in g reached a y e a r ago*

At th a t time the S ecretary o f the Treasury,

in a p u b lic statem ent, said:
HI f e e l co n fid en t th a t the monetary program being pur
sued by the N ational Government o f China i s not only along
sound li n e s , but c o n s titu te s an important step toward the
d esired go al o f s t a b i l i t y o f world cu rre n cie s.
"To supplement t h e ir e f f o r t s toward th a t o b je c tiv e
and to cooperate with them in t h e ir program o f monetary
reform and currency s t a b iliz a t io n , and in accordance with
our s i l v e r purchase p o lic y , we have d e f in it e ly in d ica te d
our w illin g n e s s , under con d ition s m utually a cce p ta b le , to
make purchases from the C entral Bank o f China o f substan
t ia l. amounts o f s i l v e r , and a ls o to make a v a ila b le to the
C entral Bank o f China, under co n d itio n s which safeguard
the in t e r e s t s o f both co u n trie s, d o l la r exchange fo r
currency s t a b iliz a t io n purposes."
At the same tim e, the M in ister o f Finance o f China in a
p u b lic statement expressed th e firm b e l i e f th at the new measures

fltotmm w b

«

in m m & m

to the liaitea $$*%«* to conduot the negati«*

tiene whieh have Juet been ©oaoluded*
^he Secretary of the Treaeurr greatly appreciate® hanag
had this opportunity for perennal eontaet with the Finaaoe Miníete?
of Ohiaa and of undertaking in ooaferenoe with M i to further the
welfare of both oountriea.
«H*Oö*H*

*':
't"

• -

of

*» gf *ft

reform which were than being adopted by the Chi»«®«

Covernmeat» and the arrangements n d c with the United states would
insure the s t a b ilit y of the Chinese currency» and th is would in s t il
ably load to greater economic improvement mud pro «parity o f the
Chinese people*
Arrangements have now been mad# through which the Ooveimed
o f China w ill purchase from the United State« TFeasary a substantial
« c u n t o f gold*

to aid the Chim

m

Coverm&ent thus to augment Its

gold reserve«» and In accordance with the terms o f the United state
S liv e r ihirohase Act of XCM, the United State« 'Treasury w ill purcm
m

Additional amount o f « liv e r from the Chine®« Government.

; the United State« freasuiy w ill also broaden the scope of t
arrangements under which the Central Bank o f China, has been en&hlsd»!
unaer conditions which safeguard the in te r e s ts o f both countries, to
obtain d o lla r exchange fo r currency s ta b ilis a tio n purposes*
Both the Secretary o f the Tressury and the Finance Minister

b e n e fic ia l

o f China are g re a tly g r a tifie d fcy the / r e s u lt s to both countries ml:
have been the consequence o f th e ir understanding, reached la s t year»
and they are equally g r a tifie d to be able to announce further piogre
in th e ir cooperation*

I t 1 « a source o f sa tisfa c tio n to them that

the program o f monetary reform« and currency sta M Iisa tio h in Chins,
has been carried out with great success and has-been Accompanied i f
an increase o f trade between China and other nations» particularly
the United States, which occupies the f i r s t place in Chins1« foreign
trade*
Because of h is desire to e g r e s s the appreciation of the

Q n xm m

Government and the people of China.» the Chinese Minister of

$Mf! '
|gg|

J
i

'<T^> v
7 gp| / ruL*»+
¿«1^/

the monetary cooperation wkloh resulted fron the conference
of the Secretary o f the treasury o f the United States o f M erles
with representatives o f the Chinese Ministry o f Finance in May« I&50J
has contributed to the very successful functioning o f the new Chins«
monetary system with ben efits both to the internal economy of China
and to American trade*
f# are now able to announce further progress in monetary
cooperation between the two countries in pursuit o f the understand*
lug reached a year ago*

At th at time the Secretary o f the Treasury,

in a public statement, said!
*X fe e l confident th at the monetary program being pur
sued by the national Oovernment o f China i s not only along
sound lin e s, but con stitu tes an Important step toward the
desired goal o f s t a b ilit y o f world currencies*
• fc supplement th e ir e ffo r ts toward th at o bjective
and to cooperate with them in th e ir program o f monetary
refem and currency s ta b ilis a tio n , and in accordance with
our s ilv e r purchase p o licy , we have d e fin ite ly indicated
our w illingness, under conditions mutually acceptable, to
nahe purchases from the Central Bank o f China o f substan
t i a l amounts o f s ilv e r , and also to mahe availab le to the
Central B«*Ue of Chins, under conditions which safeguard
the in terest« o f both countries, d o lla r exchange fo r
currency sta b ilis a tio n purposes*11
At the same time, the M inister o f Finance of China in a
public statement expressed the firm b e lie f that the new measures

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE
Friday, July 9, 1937.

Press Service
No. 10-71

The following joint statement is made hy the Secretary of the Treasury
and the Minister of Finance of China:
The monetary cooperation which resulted from the conference of the
Secretary of the Treasury of the United States of America with representatives
of the Chinese Ministry of Finance in May, 1936, has contributed to the very
successful functioning of the new Chinese monetary system with benefits both
to the internal economy of China and to American trade.
We are now able to announce further progress in monetary cooperation
between the two countries in pursuit of the understanding reached a year ago.
At that time the Secretary of the Treasury, in a public statement, said:
nI feel confident that the monetary program being pursued by the National Government of China is not only along sound
linos, but constitutes an important step toward the dosirod goal
of stability cf world currencies.
uTo supplement their efforts toward that objective and to
cooporato with them in their program of monetary reform and
currency stabilization, and in accordance with our silver purchase
policy, wo have definitely indicatod-^our-wilXlngness, under ccnditions mutually acceptable, to make purchases from"the CBtrtral--Bank of China of substantial amounts of silver, and also to make
available to the Central Bank of China, under conditions Y/hich
safeguard the interests of both countries, dollar exchange for
currency stabilization purposes.11
At the same time, the Minister of Finance of China in a public statement
expressed the firm belief that the new measures of monetary reform which were

then being adopted by the Chinese Government, and the arrangements made with
the United States would insure the- etability of the Chinese currency, and this
would inevitably lead to.-greater economic improvement' and prosperity Of the...
Chinese people.
Arrangements have now been made through which the Government of China
will purchase from the United States Treasury a substantial amount of gold.
To aid the Chinese Government thus to augment its gold reserves, and in
accordance with the terms of the United Statea-Silver Purchase Act of 1934,
the United States Treasury will purchase an additional amount of silver from
the Chinese Government.
The United States Treasury will also broaden the scope of the arrange
ments under which the Central Bank cf China has been enabled, under conditions
which safeguard the interests of both countries, to obtain dollar exchange for
currency stabilization purposes.
Both the Secretary of the Treasury and the Finance Minister of China
are greatly gratified by the beneficial results to both countries which have
been the consequence of their understanding reached last year, and they are
equally gratified to be able to announce further progress in their cooperation.
It is a source of satisfaction to them that the program cf monetary reforms
and currency stabilization in China has been carried out with great success
and has been t
accompanied by an increase of trade between China and other
nations, particularly the United States, which occupies the first place in
China1s foreign trade.
Because of his desire to express the appreciation of the Chinese Govern
ment and the people of China, the Chinese Minister cf Finance came in person
to the United States to conduct the negotiations which have just been concluded.

~ 3 -

Ihe Secretary of the Treasury greatly appreciates having had this oppor
tunity for personal co itact with the Finance Minister of China and of under
taking in conference with him to fur-ther the-welfare of'"both countries*

•-oOO'

TRmSVRT D&FAHMT

fo s m m s B , mwätm m ra^ F si®

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Seoretary of tfce Treasury Mergenthau annoimesd last «vening that the tenders
for two series of Treasury bills* to b© dated July U 9 1957* whieh wer© offered on
July 9» wer© opened et tk* federal Reserve bank© on July IS*
Tenders w»r© invlted for tk* tw© series to the eggreget© amount of #100*000*000,
©r thereabouts, and $862,183,000 wes applied for, of whi«h #100*060,000 was aecepted,
Th© detail© of th® tw© series er© a© followsi
159-PA? T O m r

B 1 U3* EkTüRIKG V W m fflm 16, 1997

for this series* whioh «es for #90*000*000*

er thereabouts» tk© total tmemt

applied for we© #120,248*000* of whldh #90*060*000 was aooopted«

The aoospted bidi

ranged in pries free 99*872* äquivalent to e rat© of aboet 0*297 percent per anxm,
t© 99*815* äquivalent to * rat# of aboet 0*434 poroont per a m m m * on & bank disoouflt
beei©*

Only part of tk© aasount bld for at tk© latter prie© wes essepted*

Tb©

average pris© of Treasury bllls of this series to bo Isseed is 99*819 and tko average
tato is aboet 0*419 pereant psr ans«® on a bank diseount beste*

for this series, whioh wes for #90*000*000* er thereabouts* tks total aasest
applied for was #141*939*000* of whioh #60*000,000 wes aeoeptod*

Sreept for thret

bids totallng #700*000* tks ae«©pt©4 blds ranged In pries t r m 99*700* äquivalent
to a rate of aboet 0*396 pereant per annua* to 99*997* äquivalent to a feto of * berat
0*991 pereant per annum* on a bank disooent beeis.
at tk© tatt«r pris© wa« aeoepted*

Only part of tk© anoent bld for

Th© average pries ©f Treasury bl 11s of this serl«*

to be isseod Is 99*610 and tks average rat# is aboet 0*914 pereant per am m
\
bank disooent basis

on a

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,

Press Service

Tuesday. July 13. 1937._______
7/12/37.

No. 10-72

Secretary of the Treasury Morgenthau announced last evening that the
tenders for two series of Treasury "bills, to he dated July 14, 1937, which
were offered on July 9, were opened at the Federal Reserve hanks on July 12,
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $262,183,000 was applied for, of which
$100,060,000 was accepted#

The details of the two series are as follows?

155-DAY TREASURY BILLS, MATURING DECEMBER 16.1937
For this series, which was for $50,000,000, or thereabouts, the total
amount applied for was $120,248,000, of which $50,060,000 was accepted.

The

accepted bids ranged in price from 99.872, equivalent to a rate of about 0,297
percent per annum, to 99,813, equivalent to a rate of about 0,434 percent per
annum, on a bank discount basis.
price.was accepted.

Only part of the amount bid for at the latter

The average price of Treasury bills of this series to be

issued is 99.819 and the average rate is about 0.419 percent per annum on a
bank discount basis.
273-DAY TREASURY BILLS. MATURING APRIL 13.1938
For this series, which was for $50,000,000, or.thereabouts, the total
amount applied for was $141,935,000, of which $50,000,000 was accepted.
Except for three bids totaling $700,000, the.accepted bids ranged in price
from 99.700, equivalent to a rate of about 0,396 percent per annum, to 99.597,
equivalent to a rate of about 0,531 percent per annum, on a bank discount basis.
Only part of the amount bid for at the latter price was accepted.

The average

price of Treasury bills of this series to be issued is 99.610 and the average
rate is about 0,514 percent per annum on a bank discount basis.
-t-oOo—

- 8 -

ties by another bank.

Receiver was appointed December 22, 1936, for the purpose

of collecting a stock assessment covering deficiency in value of assets sold and/or
completing unfinished liquidation.

Dividends to the sole creditor (the assuming

bank) amounted to 4.913 per cent principal.

Total disbursements under this receiv

ership aggregated $2,294,4-94-.00, representing 43.31 per cent of total liabilities.
FIRST NATIONAL BANK, KIRKWOOD, ILLINOIS
Depositors and creditors of record were paid in full by assumption of liabili
ties by another bank.

Receiver was appointed September 16, 1936, for the purpose

of collecting a stock assessment covering deficiency in value of assets sold and/or
completing unfinished liquidation.

Total disbursements under this receivership

aggregated $1 2 ,1 3 3 .0 0 , representing 100 per cent of total liabilities.

- 7 -

allowed, $86,4-71.00, representing 102.57 per cent of total liabilities.

Unsecured

depositors received 100 per cent principal and an additional dividend of 6.6 per
cent representing interest,
FIRST NATIONAL BANK, FAIRMONT, NORTH CAROLINA
This bank was formerly in conservatorship.
ship August 23, 1933*

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $208,683.00, representing 97.92 per cent of total liabilities.

Unsecured

depositors received 96,0 per cent of their claims.
RUBEY NATIONAL BANK, GOLDEN, COLORADO
This bank was formerly in conservatorship.
ship September 21, 1933*

It was finally placed in receiver

Depositors and other creditors received, including offsets]

allowed, $1,104-,873.00, representing 100.7 per cent of total liabilities.

Unsecured

depositors received 100 per cent principal and an additional dividend of 2.44- per
cent representing interest.
SEVEN VALLEYS NATIONAL BANK, SEVEN VALLEYS, PENNSYLVANIA
This bank was formerly in conservatorship.
ship January 23, 1934-«

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $201,191.00, representing 80.82 per cent of total liabilities.

Unsecured

depositors received 76.55 per cent of their claims.
FARMERS NATIONAL BANK, CRYSTAL LAKE, IOWA
This bank was formerly in conservatorship.
ship May 23, 1934,

It was finally placed in receiver

Depositors and other creditors received, including offsets al

lowed, $117,041.00, representing 93*65 per cent of total liabilities.

Unsecured de

positors received 88.533 per cent of their claims.
CITY NATIONAL BANK, LANSING, MICHIGAN
Depositors and creditors of record were paid in full by assumption of liabili”

- 6 ~

itors received, including offsets allowed, $563,068,00, representing 50.12 per cent!
total liabilities.

Unsecured depositors received 25.3# per cent of their claims.

FIRST NATIONAL BANK, FAULKTON, SOUTH DAKOTA
This bank was placed in receivership December 8, 1932.

Depositors and other

creditors received, including offsets allowed, $174,039.00, representing 82.04 per
cent of total liabilities.

Unsecured depositors received 65.7 per cent of their

claims.
FIRST NATIONAL BANK, KELSO, WASHINGTON
This bank was placed in receivership December 29, 1931.

Depositors and other

creditors received, including offsets allowed, $346,603.00, representing 76.65 per
cent of total liabilities.

Unsecured depositors received 66.4 per cent of their claj

FIRST NATIONAL BANK, FLEMING, KENTUCKY
This bank was formerly in conservatorship.
ship September 15, 1933.

It was finally placed ill receiverly
i
Depositors and other creditors received, including offsets

allowed, $143,731.00, representing 104.36 per cent of total liabilities.

Unsecured

depositors received 100 per cent principal and an additional dividend of 9.4 per
cent representing interest.

Stockholders received cash and other assets of an esti

ated value of $28,845.00.
FIRST NATIONAL BANK, EN0SBURG FALLS, VERMONT
This bank was formerly in conservatorship.
ship February 25, 1934*

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $723,159.00, representing 94*33 per cent of total liabilities.

Unsecured

depositors received 92.47 per cent of their claims.
FIRST NATIONAL BANK, HOLLAND, MINNESOTA
This bank was formerly in conservatorship.
ship December 8, 1933.

It was finally placed in receiver

Depositors and other creditors received, including offsets

- 5 -

FIRST NATIONAL BANK, LA HARPE, KANSAS
This bank was formerly in conservators hip.

It was finally placed in receiver

Depositors and other creditors received, including offsets

ship September 30, 1933.

allowed, $99,894-00, representing 95.81 per cent of total liabilities.

Unsecured

depositors received 90.6 per cent of their claims.
FIRST NATIONAL BANK, VIBORG, SOUTH DAKOTA
This bank was placed in receivership October 1, 1931.

Depositors and other

creditors received, including offsets allowed, $229,4-74..00, representing 66.49 per
cent of total liabilities.

Unsecured depositors received 56.72 per cent of their

claims•
FIRST NATIONAL BANK, WAIN0KA, OKLAHOMA
This bank was formerly in conservatorship.
ship September 12, 1933.

It was finally placed in receiver

Depositors and .other creditors received, including offsets

allowed, $148,605.00, representing 100.8 per cent of total liabilities.

Unsecured

depositors received 100 per cent principal and an additional dividend of 5.7 per cen
representing interest.
FIRST NATIONAL BANK, ST. CLOUD, MINNESOTA
This bank was placed in receivership June 24, 1925.

Depositors and! other credS
itors received, including offsets allowed, $1,324,668.00, representing 52.79 per cen
of total liabilities.

Unsecured depositors received 30.0 per cent of their claims.

GEORGIA NATIONAL BANK, ATHENS, GEORGIA
This bank was placed in receivership April 17, 1925.

Depositors and other ere

itors received, including offsets allowed, $2,480,299.00, representing 100 per cent
of total liabilities.

Unsecured depositors received 100 per cent of their claims.

SAUNDERS COUNTY NATIONAL BANK, WAHOO, NEBRASKA
This bank was placed in receivership April 22, 1930.

Depositors and other cred

- 4 THE FARMERS NATIONAL BANK, FAIRFAX, SOUTH DAKOTA
This bank was placed in receivership August 26, 1931.

Depositors and other

creditors received, including offsets allowed, $120,052.00, representing 71.05 per
cent of total liabilities.

Unsecured depositors received 33.0 per cent of their

claims.
FIRST NATIONAL BANK, CHAFFEE, MISSOURI
This bank was placed in receivership December 11, 1933.

Depositors and other

creditors received, including offsets allowed, $240,951.00, representing 88.32 per
cent of total liabilities.

Unsecured depositors received 82.8 per cent of their

claims.
FIRST NATIONAL BANK, FAIRVIEW, K T

VIRGINIA

This bank was placed in receivership October 13, 1931.

Depositors and other

creditors received, including offsets allowed, $301,287.00, representing 101.82 per
cent of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 1.45 per cent representing interest.
FIRST NATIONAL BANK, OAK PARK, ILLINOIS
This bank was placed in receivership April 1, 1931.

Depositors and other cred

itors received, including offsets allowed, $239,350.00, representing 58.13 per cent
of total liabilities.

Unsecured depositors received 55*55 per cent of their claims*

BRASHER FALLS NATIONAL BANK, BRASHER FALLS, NEW YORK
This bank was formerly in conservatorship.
ship August 3, 1933«

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $264,211.00, representing 74*94 per cent of total liabilities.
depositors received 41.0 per cent of their claims.

Unsecured

- 3 -

FARMERS NATIONAL BANK, LAKE GENEVA, WISCONSIN
This bank was formerly in conservatorship.
ship January 5, 1934*

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, the sum of $536,448.00, representing 107.1 per cent of total liabilities.
Unsecured depositors received 100 per cent principal and an additional dividend of
12.073 per cent representing interest.

Stockholders received cash and other assets

of an estimated value of $131,190.00.
FIRST NATIONAL BANK, WILS0NVILLE, ILLINOIS
This bank was formerly in conservatorship.
ship November 15, 1933.

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $83,183*00, representing 90.8 per cent of total liabilities.

Unsecured

depositors received 86.65 per cent of their claims.
FIRST NATIONAL BANK, OZARK, ARKANSAS
This bank was placed in receivership January 13, 1932.

Depositors and other

creditors received, including offsets allowed, $91,696.00, representing 81.77 per
cent of total liabilities*

Unsecured depositors received 61.9 per cent of their

claims.
PARMA NATIONAL BANK, PARMA, IDAHO
This bank was placed in receivership September 12, 1932.

Depositors and other

creditors received, including offsets allowed, $108,157.00, representing 86*72 per
cent of total liabilities.

Unsecured depositors received 73.1 per cent of their

claims •
FIRST NATIONAL BANK, VENICE, CALIFORNIA
This bank was placed in receivership December 23, 1931*

Depositors and other

creditors received, including offsets allowed, $17L,737.00, representing 65*68 per
cent of total liabilities.
claims

Unsecured depositors received 59*25 per cent of their

-

2

-

FIRST NATIONAL BANK, WINDSOR, MISSOURI
This bank was formerly in conservatorship.
ship March 28, 1934-*

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $195*197.00, representing 87,61 per cent of total liabilities.

Unsecured

depositors received 79*083 per cent of their claims,
NATIONAL B A M OF UNIONVILLE, MISSOURI
This bank was placed in receivership August 13, 1932.

Depositors and other

creditors received, including offsets allowed, $112,168.00, representing 92,76 per
cent of total liabilities.

Unsecured depositors received 92.87 per cent of their

claims.
FIRST NATIONAL B A M , NEWPORT BEACH, CALIFORNIA
This bank was placed in receivership February 17, 1932.

Depositors and other

creditors received, including offsets allowed, $163,304-*00, representing 75*29 per
cent of total liabilities.

Unsecured depositors received 58.65 per cent of their

claims.
FIRST NATIONAL B A M , SELMA, NORTH CAROLINA
This bank was placed in receivership May 16, 1925*

Depositors and other cred

itors received, including offsets allowed, $150,820.00, representing 5-4*61 per cent
of total liabilities.

Unsecured depositors received 33*3 per cent of their claims.

FIRST NATIONAL B A M , ALLEGAN, MICHIGAN
This bank was placed in receivership February 18, 1927.

Depositors and other

creditors received, including offsets allowed, $4-33*113*00, representing
cent of total liabilities.
claims

59*06 per

Unsecured depositors received 4-6.39 per cent of their

TREASURY DEPARTMENT
Washington
FOR RELEASE

wtpw.
qpaptì’
P cì

Press Service
\ O -** 1 , 3

VJ
J. F. T. O'Connor, Comptroller of the Currency, today announced the conflation
of the liquidation of 34 receiverships during the month of June, 1937*

This makes

a total of 709 receiverships finally closed or restored to solvency since the Bank
ing Holiday of March, 1933*

Total disbursements, including offsets allowed, to

depositors and other creditors of these 709 receiverships, exclusive of the 42 re
stored to solvency, aggregated $238,551*264.00, or an average return of 77.23 per
cent of total liabilities, while unsecured creditors received dividends amounting
to an average of 65.87 per cent of their claims.

Dividends distributed to creditors

of all active receiverships during the month of June, 1937, amounted to $4>189>944Q(|
Total dividends paid and distributions to depositors of all receiverships from March
16, 1933» to June 30, 1937, amounted to $862,886,819*00.

FIRST NATIONAL BANK, MAZ0N, ILLINOIS
This bank was placed in receivership October 8, 1932.

Depositors and other

creditors received, including offsets allowed, the sum of $122,033*00, representing
107.23 per cent of total liabilities.

Unsecured depositors received 100 per cent

principal and an additional dividend of 11.87 per cent representing interest.

Stock

holders received cash and other assets of an estimated value of $56,767.00.
FIRST NATIONAL BANK, MARATHON, IOWA
This bank was formerly in conservatorship.
ship October 31, 1933.

It was finally placed in receiver

Depositors and other creditors received, including offsets

allowed, $97,747.00, representing 89.42 per cent of total liabilities.
depositors received 79.75 per cent of their claims.

Unsecured

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING- NEWSPAPERS,
Friday. July 16. 1937_________
7/13/37.

Press Service
No, 10-73

J. P. T. 0*Connor, Comptroller of the Currency, today announced the
completion of the liquidation of 34 receiverships during the month of June,
1937.

This makes a total of 709 receiverships finally closed or restored

to solvency since the Banking Holiday of March, 1933,

Total disbursements,

including offsets allowed, to depositors and other creditors of these 709
receiverships, exclusive of the 42

restored to solvency, aggregated

$238,551,264.00, or an average return of 77.23 per cent of total liabilities,
while unsecured creditors received dividends amounting to an average of 65.87
per cent of their claims.

Dividends distributed to creditors of all. active

receiverships during the month of June, 1937, amounted to $4,189,944.00.
Total dividends paid and distributions to depositors of all receiverships
from March 16, 1933, to June 30, 1937, amounted to $862,886,819.00.

FIRST NATIONAL BANK, MAZON, ILLINOIS
This bank was placed in receivership October 8, 1932.

Depositors and

other creditors received, including offsets allowed, the sum of $122,033.00,
representing 107.23 per cent of total liabilities.

Unsecured depositors re

ceived 100 per cent principal and an additional dividend of 11.87 per cent
representing interest.

Stockholders received cash and other assets of an

estimated value of $56,767.00.

2

FIRST NATIONAL BANK, MARATHON, IOWA
This “bank was formerly in conservatorship.
receivership October 31, 1933*

It was finally placed in

Depositors and other creditors received,

including offsets allowed, $97,747.00, representing 89.42 per cent of total
liabilities.

Unsecured depositors received 79.75 per cent of their claims.

FIRST NATIONAL BANK, WINDSOR, MISSOURI
This bank was formerly in conservatorship.
receivership March 28, 1934.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $195,197.00, representing 87.61 per cent of total
liabilities.

Unsecured depositors received 79.083 per cent of their claims.

NATIONAL BANK OF UNIONVILLE, MISSOURI
This bank was placed in receivership August 13, 1932.

Depositors and

other creditors received, including offsets allowed, $112,168.00, represent
ing 92.76 per cent of total liabilities.

Unsecured depositors received 92.87

per cent of their claims.
FIRST NATIONAL BANK, NEWPORT BEACH, CALIFORNIA
This bank was placed in receivership February 17, 1932. § Depositors and
other creditors received, including offsets allowed, $163,304.00, represent
ing 75.29 per cent of total liabilities.

Unsecured depositors received 58.65

per cent of their claims.
FIRST NATIONAL BANK, SELMA, NORTH CAROLINA
This bank was placed in receivership May 16, 1925.

Depositors and

ether creditors received, including offsets allowed, $150,820.00, represent
ing 54.61 per cent of total liabilities.
per cent

of their claims.

Unsecured depositors received 33.3

-

3

FIRST NATIONAL B A M , ALLEGAN, MICHIGAN
This "bank was placed in receivership February 18, 1927,

Depositors

and other creditors received, including offsets allowed, $433,113*00, repre
senting 59.06 per cent of total liabilities.

Unsecured depositors received

46*39 per cent of their claims.
FARMERS NATIONAL BANK, LAKE GENEVA, WISCONSIN'
This bank was formerly in conservatorship.
receivership January 5, 1934.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $536,448.00, representing 107.1 per cent
of total liabilities.

Unsecured, depositors received 100 per cent principal

and an additional dividend of 12.073 per cent representing interest.

Stock

holders received cash and other assets of an estimated value of $131,190.00.
FIRST NATIONAL BANK, WILSONVILLE, ILLINOIS
This bank was formerly in conservatorship.
receivership November 15, 1933.

It was finally placed in

Depositors and other creditors received,

including offsets allowed, $83,183.00, representing 90.8 per cent of total,
liabilities.

Unsecured depositors received 86.65 per cent of their claims.

FIRST NATIONAL BANK, OZARK, ARKANSAS
This bank was placed in receivership January 13, 1932.

Depositors and

other creditors received, Including offsets allowed, $91,696.00, represent^
ing 81.77 per cent of total liabilities.

Unsecured depositors received 61.9

per cent of their claims.
PARMA NATIONAL BANK, PARMA, IDAHO
This bank was placed in receivership September 12, 1932.

Depositors

and other creditors received, including offsets allowed, $108,157.00, reprer
senting 86.72 per cent cf total liabilties.

Unsecured depositors received

4

-

73*1 per cent of their claims*
FIRST NATIONAL BANK, VENICE, CALIFORNIA
This "bank was placed in receivership December 23, 1931.

Depositors

and other creditors received, including offsets allowed, $171,737*00, repre
senting 65*68 per cent of total liabilities.

Unsecured depositors received

59*25 per cent of their claims.
THE FARMERS NATIONAL BANK, FAIRFAX, SOUTH DAKOTA
This bank was placed in receivership August 26, 1931.

Depositors and

other creditors received, including offsets allowed, $120,052.00, represent
ing 71.05 per cent of total liabilities.

Unsecured depositors r eceived 33.0

per cent of their claims.
FIRST NATIONAL BANK, CHAFFEE, MISSOURI
This bank was placed in receivership December 11, 1933*

Depositors

and other creditors received, including offsets allowed, $240,951.00, repre
senting 88.32 per cent of total liabilities.

Unsecured depositors received

82,8 per cent of their claims.
FIRST NATIONAL BANK, FAIRVIEW, ¥EST VIRGINIA
This bank was placed in receivership October 13, 1931. .Depositors and
other creditors received, including offsets allowed, $301,287.00, represent
ing 101.82 per cent of total liabilities.

Unsecured dex>ositors received 100

per cent.principal and an additional dividend of 1.45 xoer cent representing
interest.
FIRST NATIONAL BANK, OAK PARK, ILLINOIS
This bank was placed in receivership April 1, 1931.

Depositors and

other creditors received, including offsets allowed, $239,350.00, representing

~

58.13 per cent of total liabilities.

5

-

Unsecured depositors received 55.55

per cent of their claims.
BRASHER PALLS NATIONAL BAM, BRASHER PALLS, NEW YORK
This bank was formerly in conservatorship.
receivership August 3, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $264,211.00, representing 74.94 per cent of total
liabilities.

Unsecured depositors received 41.0 per cent of their claims.

FIRST NATIONAL BANK, LA HAEPE, KANSAS
This bank was formerly in. conservatorship.
receivership September 30, 1933.

It was finally placed in

Depositors and other creditors received,

including offsets allowed, $99,894.00, representing 95.81 per cent of total
liabilities.

Unsecured depositors received 90.6 per cent of their claims.

FIRST NATIONAL BA M , VIBORG, SOUTH DAKOTA
This bank was placed in receivership October 1, 1931.

Depositors and

other creditors received, including offsets allowed, $229,474,00, represent
ing 66.49 per cent of total liabilities.

Unsecured depositors received

56.72 per cent of their claims.
FIRST NATIONAL BA M , WAYNOKA, OKLAHOMA
This bank was formerly in conservatorship.
receivership September 12, 1933.

It was finally placed in

Depositors and other creditors received,

including offsets allowed, $148,605.00, representing 100.8 per cent of total
liabilities.

Unsecured depositors received 100 per cent principal and an

additional dividend of 5.7 per cent representing interest.
FIRST NATIONAL B A M , ST. CLOUD, MINNESOTA
This bank was placed in receivership June 24, 1925,

Depositors and

-

receivership September 15, 1933.

7

Depositors and ether creditors received,

including offsets allowed, $143,731.00, representing 104.36 per cent of
total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 9.4 per cent representing interest.

Stock

holders received cash and other assets of an estimated value of $28,845.00.
FIRST NATIONAL BANK, M O S BURG PALLS, VERMONT
This bank was formerly in conservatorship.
receivership February 25, 1934.

It was finally placed in

Depositors and ether creditors received,

including offsets allowed, 4*723,159.00, representing 94.33 per cent cf total
liabilities.

Unsecured depositors received 92.47 per cent of their claims.

FIRST NATIONAL.RAM, HOLLAND, MINNESOTA
This bank was formerly in conservatorship.
receivership December 8, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $86,471.00, representing 102.57 per cent of total
liabilities.

Unsecured depositors received 100 per cent principal and an

additional dividend of 6.6 per cent representing interest.
FIRST NATIONAL BANK, FAIRMONT, NORTH CAROLINA
This bank was formerly in conservatorship.
receivership August 23, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $208,683.00, representing 97.92 per cent of total
liabilities.

Unsecured depositors received 96*0 per cent of their claims.

RUBET NATIONAL BANK, GOLDEN, COLORADO
This bank was formerly in conservatorship.
receivership September 21, 1933.

It was finally placed in

Depositors and other creditors received,

including offsets allowed, $1,104,873.00, representing 100.7 per cent of

6

other creditors received, including offsets allowed, $1,324,668.00, repre
senting 52.79 per cent of total liabilities.

Unsecured depositors received

30,0 per cent of their claims.
GEORGIA NATIONAL BANK, ATHENS, GEORGIA
This "bank was placed in receivership April 17, 1925.

Depositors and

other creditors received, including offsets allowed, $2,480,299.00, repre
senting 100 per cent of total liabilities.

Unsecured depositors received

100 per cent of their claims.
SAUNDERS COUNTY NATIONAL BANK, WAHOO, NEBRASKA
This bank was placed in receivership April 22, 1930.

Depositors and

other creditors received, including offsets allowed, $563,068.00, represent
ing 50.12 per cent of total liabilities.

Unsecured depositors received 25,38

per cent of their claims.
EIRST NATIONAL RANK, EAULKTON, SOUTH DAKOTA
This bank was placed in receivership December 8, 1932.

Depositors and

ether creditors received, including offsets allowed, $174,039.00, represent
ing 82.04 per cent of total liabilities.,

Unsecured depositors received 65.7

per cent of their claims.
EIRST NATIONAL BANK, KELSO, WASHINGTON
This bank was placed in receivership December 29, 1931.

Depositors and

ether creditors received, including offsets allowed, $348,603.00, represent
ing 76.65 per cent of total liabilities.

Unsecured depositors received 66.4

per cent of their claims.
EIRST NATIONAL BANK, FLEMING, KENTUCKY
This bank was formerly in conservatorship.

It was finally x3laCG<^

8

total liabilities.

Unsecured depositors received 100 per cent principal and

an additional dividend of 3.44 per cent representing interest.
SEVEN VALLEYS NATIONAL BANK, SEVEN VALLEYS, PENNSYLVANIA
This hank was formerly in conservatorship.
receivership January 23, 1934.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $201,191.00, representing 80*82 per cent of total,
liabilities..

Unsecured depositors received 76,55 per cent of their claims,

EARMERS NATIONAL BANK, CRYSTAL LAKE, IOWA
This bank was formerly in conservatorship.
receivership May 23, 1934,

It was finally placed in

Depositors and other creditors received, includ

ing offsets allowed, $117,041.00, representing 93.65 per cent of total lia
bilities.

Unsecured depositors received 88.533 per cent of their claims.

CITY NATIONAL BANK., LANS INC, MICHIGAN
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed December 22, 1936, for

the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or completing unfinished liquidation.

Dividends to. the

sole creditor (the assuming bank) amounted to 4.913 per cent principal. Total
disbursements under this receivership aggregated $2,294,494.00, representing
43.31 per cent of total liabilities.
FIRST NATIONAL BANK, KIRKWOOD, ILLINOIS
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed September 16, 1936, for

the purpose of collecting a stock assessment covering deficiency in value of
assets sold and/or completing unfinished liquidation.

Total disbursements under

this receivership aggregated $12,133.00, representing 100 per cent of total
liabilities.

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
JUNE, 1937

Date of
Failure':
First National Bank, Mazon, 111.
g]
First National Bank, Marathon, Iowa
gì
First National Bank, Windsor, Mo.
National Bank of Unionville, Mo.
First National Bank, Nevsport Beach, Calif.

10 - 8 -3 2
10-31-33
3 - 2 S-3 U
8-13-32
2- 1 7 - 3 2

First National Bank, Salma, N. C.
First National Bank, Allegan, Mich.
Farmers National Bank, Lake Geneva, Wise.
First National Bank, Wilsonville, 111,
First National Bank, Ozark, Ark.

5- 16 -2 5
2-18-27
1 - 5- 3 U
11-15-33
I-I3 - 3 2

Parma National Bank,
First National Bank,
The Farmers National
First National Bank,
First National Bank,

g]
2/

Parma, Idaho
Venice, Calif.
Bank, Fairfax, S. D.
Chaffee, Mo.
Fairview, W. Va.

First National Bank, Oak Park, 111.
Brasher Falls National Bank, Brasher Falls, N.Y. g]
gj
First National Bank, La Harpe, Kansas
First National Bank, Viborg, S. D.
gj
First National Bank, Waynoka, Okla.
First National Bank, St. Cloud, Minn.
Georgia National Bank, Athens, Ga.
Saunders County National Bank, Wahoo, Nebr.
First National Bank, Faulkton, S. D.
First National Bank, Kelso, Wash.

9-I 2 -32
I 2- 23 - 3 I
8- 26-3I
12- 11-33
10- 13-31

Total
Di sbur sement s
Including
Offsets Allowed:
$

12 2 ,0 3 3 .0 0
9 7 .7 u7 .0 0
195,197.00
1 1 2 ,16 8 .0 0
163,304.00

107.23
89.42

1 5 0 ,820.00
U 3 3 ,1 1 3 .0 0
536,448.00
8 3 ,1 8 3 .0 0
9 1 ,696.00

54.61

10 8 ,1 5 7 .0 0

171 ,737.00
120,052.00
240,951.00
301,287.00

9-12-33

239,350.00
264,211.00
9 9 .s9 u .00
229 .u7 u .00
148,605.00

6-24-25
u- 1 7 -2 5
4-22-30
12- 8-32
12-29-31

1,324,668.00
2,480,299.00
563,068.00
174 ,039.00
343,603.00

4-

1-31

8- 3 -3 3

9- 30-33
10- 1-31

Per Cent
Total Dis- •
bursements
to Total
Liabilities:

1 1 1 .8 7
79.75
79.083
92.87
5 8 .6 5

8 7 .6 1
9 2 .7 6
75.29

107.1

9 0 .8
81.77
S6.72

71.05
83.32
101.82
58.13
7 U.9 U
95.81

66*49
100.8
52.79
100.

50.12
82.04

76.65

'

Capital
Stock at
Date of
Failure:
$ 5 0 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
40,000.00
2 5 ,0 0 0 .0 0

Cash and
other Assets
returned to
Shareholders1
Agent:
$

5 6 ,7 6 7 .0 0
-0-0-0-0-

1 1 2 .0 7 3
S6.65
6 1.9

3 0 ,0 0 0 .0 0
50 ,0 0 0 .0 0
50 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
25 ,0 0 0 .0 0

-0-01 3 1 ,19 0 .0 0
-0 -0 -

73.1
59.25
33.
82.8
101.45

25 ,0 0 0 .0 0

50,000.00
25,000.00
50,000.00
30,000.00

•“0—
—0—
-0-0-0«

100,000.00
25,000.00
25,000.00
40,000.00
25,000.00

-0-0-0 -0-0 -

250,000.00
400,000.00
50,000.00
25,000.00
100,000.00

-0 -0 -0 -0-0-

33-3
46.39

59.06

65.68

Per Cent
Dividend
Declared
• to All
Claimants:

55.55
41.

90.6
56.72
105.7
30.
100.
25.38

65.7
66.4

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
JUNE, 1937

Date of
Failure:
First
First
First
First
Rubey

National
National
National
National
National

Bank,
Bank,
Bank,
Bank,
Bank,

Fleming, Kentucky 2/
Enosburg Falls, Vt.2/
Holland, Minn,
2/
Fairmont, N. C,
2/
Golden, Colo-,
2/.

Seven Valleys Nat *1 Bk,, Seven Yalleys, Fa«
Farmers Natfl Bank, Crystal Lake, Iowa

2/

9-15-33
2-25-3^
12-S-33
S-23-33
9- 21-33

2/

1- 23-34
5- 23-34

Formerly in conservatorship

Total
Di sbur e0ment s
Including
Offsets Allowed:
$

143,731.00
723.159.00
«6 ,1*71.00

Per Cent
Total Disbursements
to Total
Liabilities:

208,683.00
1,104,873.00

104.36
94.33
102.57
57.92
100.7

201,191.00
117,041.00

93.65

SO.«2

Per Cent
Dividend
Declared
to All
Claimants:

109.4
92.47

106,6
9^*
102,44
76.55
«5.533

$

Capital
Stock at
Date of
Failure:

Cash and
other Assets
returned to
Shareholders1
Agent:

25,000.00
25,000.00
25,000.00
4o,000.00
50,000.00

$28,845.00
■— 0—
-0- 0- 0-

25,000.00
25,000.00

—0—
-0-

INSOLVENT NATIONAL B A M S LIQUIDATED AND FINALLY CLOSED
OH EESTOHED TO SOLVENCY DURING THE MONTH OF
JUNE, 1937

City National Bank, Lansing, Michigan
First National Bank, Kirkwood, 111.

1/

U
H

Date of
Failure:

Total
Di shur sement s
Including
Offsets Allowed:

I2- 22-36
9- 16- 36

$ 2,29H,H9MO
12 ,133.00

Per Cent
Total Dis
bursements
to Total
Liabilities:

^3.31
100.

Per Cent
Dividend
Declared
to All
Claimants:

^ .9 1 3
- 0-

Receiver appointed to levy and collect stock assessment covering deficiency
in value of assets sold or to complete unfinished liquidation.

Capital
Stock at
date of
Failure:

$500,000.00
50,000.00

TREASURY DEPARTMENT
Washington
EOR IMMEDIATE RELEASE,
Press Service
Wednesday, JaaasErS, 1937,
No. 10-=3
I'I
The Commissioner of Customs today announced preliminary figures for imports
of Douglas fir, Western hemlock and red cedar shingles, under the quota provisions

ll$1

of the Canadian Trade Agreement, for the period January 1 tr wiy d0 , 1R37j and the
percentage that such imports hear to the totals allowable under the quota provi
sions, as follows:

Customs District

TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Galveston
Hawaii
Los Angeles
Maine & N.H.
Massachusetts
Michigan
New York
Philadelphia
St.. Lawrence
San Francisco
Vermont
Washington

Sawed Timber & Lumber Not Specially Provided Port
Douglas
Western
Mixed Fir
Total Fir
Red Cedar
Eir
Hemlock
& Hemlock
& Hemlock
Shingles
(Bd.Et.) .
_____ (Bd.Et.)
(Bd.Ft.)
(Bd.Ft.)
(Squares)
26,187,149

11,450
274,031
3,638,759
2,501,277
--------597,434
460,578
29,603
2,551,128
1,410
9,896,715
--------54,642
- - - -414,440
5,755,682

4,287,123

-

6,035,177
36,509,449
813,649*
__________ 14«6jo________ 77,6jo

---------------93,574
50,008
539,018
- - - - 776,085
---------.
------------------------------------288,727
756,271
------ ---------2,245,214 - ------48,360 ------------ - - 3,018,283
--------2,210,615
--------- - r - ----- ----- & —
—
-------- -----------296,145 ---------

11,450
417,613
4,177,777
3,277,362
- - ----597,434
1,505,576
29,603
4,796,342
49,770
12,914,998
2,210,615
54,642
______
414,440
6,051,827

5
47,465
334,004
57,032
14,366
2,560
2,338
-- 1,750
843
6,650
---2,234
602
48,950
294,850

* Executive Order, dated March 13, 1937, limits importations of red cedar shingles
from Canada to 1,048,262 squares, during first six months of calendar year 1937.
q o Oqo

A
/a.

rIMPORTS O E / D O U ^ ^ f lR, 7p?BTERN HEMLOCK AND BEB13EDAR
UNDER OTS J^UÖTA PROVISIONS q j M É E CANADIAN' T^ADE
-

Customs District

TOTAL IMPORTS
Per Cent of Quota

■

/

/

/

/

(Preliminary figures)

Zyy

CS

:
January 1 to July 3, 1937
: Sawed Timber & Lumber Not Sp®i\cally Provided For
: Douglas
: ’ Western
Mixed Fir
Total Fir
Fir
;
Hemlock
& Hemlock
& Hemlock
: (Bd.Ft.) :
(Bd.Ft.)
(Bd. Ft.)
(Bd. Ft.)
33,169,434

4,965,416

23,366,942

16,158
306,099
4,740,661
3,111,690
•
597,434
2,112,206
63,354
2,551,128
7,406
12,312,715
56,442
455,163
6,838,978

«
93,574
612,396
776,085
616,405

•
50,008
-

•
:
*
:
:

61,501,792
24.6#

Jan. 1-Jun
30, 19371
Red Cedarl
Shingles!
(Squares
1,035,8191
98.8$

PROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Calveston
Hawaii
Los Angeles
Maine & N. H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Francisco
Vermont
Washington

-

2,245,214
95,542
-

526,200

-

756,271
20,350,048
2,210,615
-

*•

16,158
449,681
5,353,057
3,887,775
597,434
3,484,882
63,354
4,796,342
102,948
32,662,763
2,210,615
56,442
455,163
7,365,178

51
52,860j
402,586!
70,771
14,366
2,560
2,338
-|
1,750
1,293
6,650
A
2,742
602
54,453
422,843

* Executive Order, dated March 13, 1957, limited importations of red cedar shingles
from Canada to 1,048,262 squares, during first six months of calendar year 1937.

/

C

(Prepared by Division of Statistics and Research, Bureau of Customs)
,

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Wednesday, July 14, 1937.

Press Service
No. 10-74

The Commissioner of Customs today announced preliminary figures for imports
of Douglas fir, Western hemlock and red cedar shingles, undei* the quota provisions
of the Canadian Trade Agreement, for the period January 1 to July 3, 1937, and the
percentage that such imports hear to the totals allowable under the quota pro
visions, as follows:

Customs District

TOTAL IMPORTS
Per Cent of Qsiota
FROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Calveston
Hawaii
Los Angeles
Maine & N.H.
Massachusetts
Michigan
New York
Philadelphia
St. Lawrence
San Francisco
Vermont
Washington

January 1 to July 3, 1937
Sawed Timber & Lumber Not Specially Provided For
Douglas : Western
Mixed Fir : Total Fir
:
Fir
: Hemlock
& Hemlock : & Hemlock
(Bd.Ft.) :
(Bd.Ft.)
(Bd.Ft.) : (Bd.Ft.)
33,169,434

4,965,416

16,158
306,099
4,740,661
3,111,690

—

—

93,574
612,396
776,085

50,008

—

—

597,434
2,112,206
63,354
2,551,128
7,406
12,312,715

23,366,942

—

■0

616,405

756,271
—

2,245,214
95,542

—

—

20,350,048
2,210,615

—

—

—

455,163
6,838,978

—

—

526,200

-

..

56,442

61,501,792
24.6</o

1,035,819*
98.8$

16,158
449,681
5,353,057
3,887,775

5
52,860
402,586
70,771
14,366
2,560
2,338

—
—

iJan.l-June
: 30. 1937.
iRed Cedar
: Shingles
: (Sauares)

597,434
3,484,882
63,354
4,796,342
102,948
32,662,763
2,210,615
56,442
455,163
7,365,178

1,750
1,293
6,650
2,742
602
54,453
422,843

^Executive Order, dated March 13, 1937, limited importations of red cedar shingles
from Canada to 1,048,262 squares, during first six months of calendar year 1937.

— oOo-

The Commissioner of Customs today announced preliminary
figures for imports of commodities subject to the quota provisions
of the Canadian Trade Agreement, as of July 3, 1937, and the
percentage that such imports bear to the totals allowable under
the qtuota provisions, as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

J U L 1 41937

MR. GASTON
(Attention of

Mr. Schwarz, Room 289, Treasury Building)

FROM MR. BENNIE:
There is attached for immediate release a tabulation shoving
preliminary figures for imports of commodities subject to the
quota provisions of the Canadian Trade Agreement, as of July 3,

1937.
When the release has been mimeographed, please have
copies forwarded to Mr. Freeman, Room

123

415, Washington Bldg.

TREASURY DEPARTMENT
Washington
FOR W l f S RELEASE,
Press Service
Thursday, ^sns=£©^ 1937.
/
" "
No.; lO-^g,
/■ \
«S*
u
^ ---- /
The Commissioner of Customs today announced preliminary figures for imports

bf cattle, cream and certified seed potatoes, under the quota provisions of the
Canadian Trade Agreement, as of^Mcty ff09 IQfeV, and the percentage that such imports
hear to the totals allowable under the quota provisions, as follows!
Dec. 1, 1936 to
May 29, 1937
January 1 to May 29V 1937
CATTLE
CBEAM WHITE OR IRISH
CATTLE'700# ‘ DAIRY
OR MORE
UNDER 175#
COWS
(Gal.) SEED POTATOES
(Head)
700# 01
(Pounds)
(Head)
MORE
(Head)
TOTAL IMPORTS
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawai i
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
Rochester
St. Lawrence
Vermont
Virginia
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
FROM OTHER COUNTIRES
Puerto Rico

41,060
79.1$

7,101
~ - •—
2,942
2
- - —
64
— — «*.
2
280
914
74
19,433
167

96,397
61.9$

—

—

*-»

21,171
1,011
4,894
276
—
30
73
~ -*
3,944
33-,394
751
1,700
489
293

—

~

«

—

7,383
1,425
748
40,535

-

~

273
14
229
9
525

«*•%■*#

—

~

2,443
12.2$

34,531
2.3$

67

5
6

—

—
~
~
—

~

-

—

10
3
— —
166
— —
23
— 40
—

—

—

—

—

—

—
—

' —

«
—

—

—

—

~

—

—

-

-

-

T-

—

—

—

—

—

—

8
296
1,148 34,159
—

5..522
73,999

—

—

~

-

~

690
2,443 34,262

5,934
9,145
4,558
2.761
22,398

—

- - ~

~ ~ ~

ooOoo

— - —
82
— — —
— — ~
2
—
— — —
- - —
~

—

332
119
-

j¡ ¡

* .

•»*
—

—

mm

----------- r .

mm

m

h

36,450
- - - 1
—

- * 2,000 I
5,061,242
242,360
3,570,931
1,437,160
----------- -------

-

**

20,713,463
-

-

-

382,732
81,855
46,000
227,100
3,907,626
46t510 .
35,755,429

—

—

— ,

—

—

~

—

— .

—

—

--- ---------------

—

—

~
mm

35,755’429
79.5$

mm

M

-----------

R

—

—

269

-------J

-- **

IMPORTATIONS OF CATTLE, CREAM AI® CERTIFIED SEED.POTATOES
UNDER THE QUOTA PRO^ESIp^S OTrE^f C A N A D W T É A m AGREEMENT

f ¿l/'
^
/
Preliminary Figures as of July 3, 1937

Customs District

TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawaii
Maine & N« H*
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
Rochester
St« Lawrence
Vermont
Virginia
Washington
Total from Canada
FROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico
FROM OTHER COUNTRIES
Puerto Rico

January 1 to July 3. 1937
CATTLE 7 0 0 # T DAIRY COWS ;
OR MORE
: 700 # m m o r e : CREAM
(Head)
: (Gal«)
(Head)
:
110,169
70.7$

26,718
1,058
5,776
276
41
73
4
5,583
36,644
956
1,762
529
293
-

513
124
5,954
86,304

6,267
10,080
4,574
2,944
23,865

—

3,070
15.4$

72
21
3
201
- .
23
53
334
1,509

58,430
3.9$

Dec. 1,1936 to
July 3, 1937
WHITE OR IRISH
SEED POTATOES
(Pounds)
36,405,175
80.9$

854
05,076
j .

58,116

36,450
1,710
2,000
5,068,395
242,360
3,631,221
1,439,860
f
21,288,311
—
382,732
82,900
46,000
227,100
3,907,626
48?510
36,405,175

-

-

•*

-

•

-

6
6
93
2
«
8
58,001

-

314

—

NOTE - The quota limiting importations of cattle weighing less than 175
pounds each, at the reduced rate provided for under the trade agreement, has
been filled«
(Prepared by Divisioïr-of Statistics and Research, Èttçeau of Customs)

TREASURY DEPARTMENT
Washington
JOB RELEASE, MORNING NEWSPAPERS
Thursday, July 15, 1937,

Press Service
No. 10-75

The Commissioner of Customs today announced preliminary figures for imports
of cattle, cream and certified seed potatoes, under the quota provisions of the
Canadian Trade Agreement, as of July 3, 1937, and the percentage that such imports
bear to the totals allowable under the quota previsions, as follows?

Customs District
TOTAL IMPORTS
Per Cent of Quota

January
CATTLE 700#
OR MORE
(Head)
110,169
70.7$

1 to July 3. 1937
: DAIRY COWS i
î 700# OR MORE i CREAM
:
(Head)
! (Gal•)
3,070
15.4$

58,430
3.9$

EROM CANADA
Alaska
Buffalo
Chicago
Dakota
Duluth & Superior
Hawaii
Maine & N.H.
Maryland
Massachusetts
Michigan
Minnesota
Montana & Idaho
New York
Oregon
Philadelphia
Rochester
St. Lawrence
Vermont
Virginia
Washington
Total from Canada

5.954
86,304

PROM MEXICO
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

6,267
10,080
4,574
2.944
23,865

mm

-

mm

-

-

314

PROM OTHER COUNTRIES
Puerto Rico

6
6

* *

26,718
1,058
5,776
276
—

41
73
4
5,583
36,644
956
1,762
529
293
—

513
124

72

—

—

21
3

93
—

—

—

2

201
~

■

—

23
—

—

Dec. 1, 1936 to
July 3. 1937
WHITE OR IRISH
SEED POTATOES
(Pounds)
36,405,175
80.9$

_

36,450
-

1,710
»

2,000
5,068,395
242,360
3,631,221
1,439,860
—

53
:

mm.

mm

mm

21,288,311

—

m .

mm

•»

mm

»

mm

382,732
82,900
46,000
227,100
3,907,626
48.510
36,405,175

334
1,509

—

8
58,001
M

854
3,070

58,116

mm
mm

4m

mm

M '

mm

—

-

NOTE - The quota limiting importations of cattle weighing less than 175 pounds each,
at the reduced rate provided for under the trade agreement, has been filled.

7>

ir

A
.IMPORTS OF COMMODITIES FROM THE PHILIPPINES UNDER QUOTA
PROVISIONS\ OF PHILIPPINE INDEPENDENCE AST AND CORDAGE ACT OF 1935

\\ Preliminary
\ Fi glares, as of July
'\* 3,
J 1937

\Z

Customs District

TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
St. Louis
San Francisco
Virginia
Washington
Florida

f

\ /

\ y

:
January
j
: .COCONUT OIL
:
(Pounds)
170,906,275
38.1$

1 to July 3,
: REFINED
: 'SUGAR
: (Pounds)

1937
: UNREFINED
: ‘ SUGAR
:
(Pounds)

77,400,008
69.1$

990,319,711
55.3$

20,901,549
14,081,561
3,231,934
39,184,964
**

8,216
•
60,741,545
11,190,008
•
256,848,420
322,843,406
265,218
306,700,271
31,722,627
**

m

•
3,585,033
2,602,998
18,211,960
27,121,749
97,559,680
•
1,771,860
14,905
564,580
19,445,177
225
28,108
mm

May 1 to
:
: July-3,11957
CORDAGE
:
XPounds)
:
1,581,976
26,4$
130,066
44,466
46,222
70,091
>
145,256
3,268
576,915
147,449
77,721
40,156
277,012
12,011
6,021
5,322

(Prepared by Division of Statistics and Research, Bureau of Customs)

'Che 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 let, during the period January 1 to July 3, 1937, and
under the Cordage let of 1935 , during the period May 1 to July 5,
1937, also the percentage that such imports bear to the totals
allowable under the quotas, as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

J U L 141937

MR, GASTGH
(Attention of Mr. Schwarz, Boom 289, Treasury Bldg,}
FROM MR. BENNER:
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, as of July 3, 1937.
When this tabulation has been mimeographed, please
copies forwarded to Mr. Freeman, Boom 415, Washington Building.

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, July 15, 1937.

Press Service
No. 10-76

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 Inde
pendence Act, during the period January l. to July 3, 1937, and under
the Cordage Act of 1935, during the period May 1 to July 3, 1937, also
the percentage that such imports hear to the totals allowable under the
quotas, as followsî
:
Customs District

TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
St. Louis
San Francisco
Virginia
Washington
Florida

:
!

May 1 to
:
January 1 to July 3. 1937
: REFINED
: UNREFINED î July 3.1937
CORDAGE
SUGAR :
COCONUT OIL : SUGAR
i
(Pounds)
: (Pounds) : (Pounds) :
(Pounds)

170,906,275
990,319,711 ^ 1,581,976^
77,400,008
______
38.1#_________69.1#_________55.3#
36.4#
—

-

-

-

-

-

-

3,585,033
2,602,998
18,211,960
—

27,121,749
97,559,680
~

1,771,860
14,905
564,580
19,445,177
225
28,108
«

—

20,901,549
—

—
—
—

14,081,561
—

8,216
-

60,741,545
11,190,008
«

256,848,420
322,843,406
265,218
306,700,271

—
—

3,231,934

31,722,627

-

39,184,964
-

—

-

130,066
44,466
46,222
70,091
—

145,256
3,268
576,915
147,449
—

77,721
40,156
277,012
12,011
6,021
5,322

-

2-

the Brazilian economy makes feasible at this time this
important step.
Both the Secretary of the Treasury and the Minister
of Finance are pleased to have had this opportunity to ex
tend the field of cooperation between their countries
and, in accordance with their conversations,

the Secretary

of the Treasury stands ready to supply such technical as
sistance as Brazil may care to avail itself of in connection
with the organization of the new bank.

The following joint statement is made by the Secretary
of the Treasury and the Minister of Finance of Brazil:
The Secretary of the Treasury of the United States of
America and the Minister of Finance of the United States of
Brazil are entering into an agreement under which:
1.

The United States undertakes to sell gold to

Brazil at such times and in such amounts as the Brazilian
Government may request, up to a total of $60,000,000^
2*

The United States will make dollar exchange

available to the G-overnment of Brazil or its fiscal agent,
under conditions which safeguard the interests of both
countries, for the purpose of promoting exchange equilibrium*
The agreement is designed to promote the development
of conditions favorable to the maintenance of monetary
equilibrium between the two countries and to facilitate
the establishment by the United States of Brazil of a
central reserve bank as a part of the program of the Brazilian
Government for improving the financial structure of the Nation
to meet the needs of its expanding economy*
In recent years there has occurred a notable improve
ment of the trade and financial position of Brazil,

it is a

matter of gratification both to the Secretary of the Treasury
and the Finance Minister that this favorable development of

TREASURY DEPARTMENT
Washington

EOR RELEASE, MORNING NEWSPAPERS,
Friday. July 16. 1937._________
7/15/37

Press Service
No. 10-78

The following joint statement is made by the Secretary cf the Treasury
and the Minister cf Finance of Brazil:

;

The Secretary of the Treasury of the United States of America and the
Minister of Finance cf the United States of Brazil are entering into an
agreement under which:
1.

The United States undertakes to sell gold to Brazil at such times

and in such amounts as the Brazilian Government may request., up to a total of
$60,000,000;
2,

The United States will make dollar exchange available to the

Government of Brazil or its fiscal agent, under conditions which safeguard
the interests of both countries, for the purpose of promoting exchange
equilibrium.
The agreement is designed to promote the development of conditions
favorable to the maintenance of monetary equilibrium between the two countries
and to facilitate the establishment by the United States of Brazil’of a
central reserve bank as a part of the program cf the Brazilian Government for
improving the financial structure of the Nation to meet the needs cf its ex
panding economy.

$

;

In recent years there has occurred ,a notable improvement of the trade
and financial position of Brazil.

It is a matter cf gratification both to

the Seer| tary of the Treasury and the Finance Minister that this fayorable
development of the Brasilian economy makes feasible at this time this important
step.

]

—

--

2

-

- _JBcth- the---Seere-tary'b;T~the-:Treasury and the Minister _&£ JTinance .are

pleased to have had this opportunity to extend the field of cooperation between
their countries and, in accordance with their*-conversations, the Secretary of
the Treasury stands ready to supply such technical assistance as Brazil nay,
care to avail itself of in connection with the organization of the new bank.

•-0 O 0-—

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE, '
Thursday, July 15, 1937,

Press Service
No. 10-77

Net market purchases of Government securities for Treasury
investment accounts for the calendar month of June, 1937, amounted
to $24,370,400, Secretary Mergenthau announced today.

IN T E R

ICEE; T C
O F FFIC
O O M M U N IC A T IO N

TO

FROM

ííSfollowing receipt of an opinion of
the Attorney General requested by the Treasury on the subject,
the Secretary ggge "one ronowing instructions to the Director
A
of the Division of Procurements
"Hereafter, all cases in which there is evidence that
bids, otherwise acceptable, are the result of collusion,
should, before any bid is accepted^ be referred through
the usual channels to the Department of Justice for de - i
termination whether a finding of collusion by the Director
of the Procurement Division would be supported by evidence
so clear and convincing as to lead a man of ordinary
judgment and prudence definitely to that conclusion,
"All cases of identical bids would, in the absence of
satisfactory affirmative evidence that no collusion was
present, fall within the foregoing instruction."

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE
Friday, July 16, 1937.

Press Service
Ho. 10-79

Following receipt cf an opinion of the Attorney General requested by
the Treasury on the subject, the Secretary of the Treasury has given the
following instructions to the Director of the Division of Procurement;
’’Hereafter, all cases in which there is evidence that
bids, otherwise acceptable, are the result of collusion,
should, before any bid is accepted, be referred through the
usual channels to the Department of Justice for determination
whether a finding cf collusion by the Director cf the Procure
ment Division would be supported by evidence so clear and con
vincing as to lead a man of ordinary judgment and prudence
definitely to that conclusion.
nAll cases cf identical bids would, in the absence of
satisfactory affirmative evidence that nc collusion was present-,
fall within the foregoing instruction.M

IMPORTS OF DISTILLED LI&UQRS AND WINES AND DOTIES COLLECTED THEREON

May
DISTILLED LiaUORS (proof Gallons)*
Stock in Customs Bonded Ware«
houses at beginning
T o ta l Imports (Free and D u tiable)
A v a ila b le fo r Consumption
Entered in to Consumption (a)
^Xjqgorted^fr^m .Customs c u s to d y ^
Stook in Customs Bonded Ware«»
houses at end
STILL WINES (L iq u id G allo n s)*
Stook in Customs Bonded Ware»
houses a t beginning
T o ta l Im ports (Free and D u tiab le )
A v a ila b le fo r Consumption
Entered in to consumption (ft)
rJ£xpojs.ted'-from Customs custody—
Stook in Customs Bonded Ware»
houses at end

JS&L29.37

A p r il

May

1st 11 aontha Tlse&l Yew

122L

- 122t

3 , 698,298
1 , 237,068

3, 910,085
1 * 033,549
4, 943,634
1 * 244,152

1 , 262,894
4, 858,744
890,066

18,804,953
14 , 994,269

3*522*644
9*454,080
12,976,724
8,817,761
— 194,170"

3, 698,298

3* 964,793

3*714,806

3* 964,793

1*637*508

1,540,948#
2* 517*020
4* 057,968
2, 327*109
— * 6*734-

4*935*366

1 * 213,779
___-657*1 "'—
3*7X4,806

1221

3*595»850

___i m _______ m *
3* 702,586
15 , 102,367

1 , 204,062

1 *1 9 2 *0 7 7

1 *6 3 7 *6 7 3

320,714

265,846

1 ,5 2 4 ,7 7 6

1 *457*92 3

190,798
1,828,471

252,232

123,108

4,495*811
3,242,021

278,860
-537-

2* 858,303

1,629-

1 * 2 4 5 ,3 7 9

1 ,2 0 4 ,0 6 2

1 , 70 3*925

1*2 4 5 *3 7 9

1 * 70 3*925

195*764
31*147

183,318

230,995
15*577
246,572
6,812

216*919

288,091
210,809
498,900

SPARKLING WINES (L iq u id Gallons)*
Stock in Customs Bonded Ware«
houses at beginning
T o ta l Im ports (Free and D u tiable
A v a ila b le fo r Consumption
Entered in to consumption (a)

38,907
222,225
26,437

226,911
26,052
-

Stock in Customs Bonded Ware«
houses a t end

___

4A

200,824

--------

727*209
525*863

______ ■
_____R : 9 7 A
/

250,166
— ------------ —

200,824

234,481

$ 2, 220,305
132,916
39,246
$ 2,412,467

$ 36*786,945
2*900,694
1,576,644
$ 41,264,283

$ 30* 907*432
2, 898,133
1 f 480 • 542
$ 35*286,107
'

57l.ff2?A.3S2.,. 003, 370,709
$30* 267,916 $444,641,052
7*898
9*2?6

.........

j

d

" l

4 1 0 . «h o * 079

$354,690,080 /
9*9# J ,

(a) In clu d in g withdrawals fo r ship su p p lies and d ip lo m atic u s e ,
^ (g

*/ /

234,481

195*764

DUTIES COLLECTED ON:
D is t i l le d Liquors
$ 2,985*503 $ 3*057*891
249,270
226,062
S t i l l Wines
Sp a rk lin g Wines
79,149
77,367
T o ta l D uties C o lle c te d on Liquors 2 3*312*140 $ 3*363*102
/ ^ o ta l D uties C o lle cte d on Other
a n
e o n
n ^ l
0ounod$t»l9i
_____ _— **p—
$46,251,691
$46,252,163
T OTAi# DUTIESJi* U M f V S '
\ Percent
C o lle cte d on Liquors
7 « l 696
7*396

510,290

Re a j arch ^Bureau o f Cust oms)

/

Sta
OFFICE OF THE COMMISSIONER OF CUSTOMS

July 14, 1957

TO MR. GASTON
FROM MR. BENNER:

There is transmitted herewith a statement showing imports
of distilled liquors and wines, and duties collected thereon,
covering the month of May 1936 and 1937 and the first eleven
months of the fiscal years 1936 and 1937, which may he suitable
for press release.

Inclosure

TREASURY DEPARTMENT
Washington
I POR .IMMEDIATE RELEASE,
Friday, July 16, 1937.

I

Press Service
N o . -10-80

Commissioner of Customs James H. Moyle today issued the following statement
showing imports of distilled liquors and wines and duties collected thereon,
covering the month of May, 1936, and 1937, and the first eleven months of the
fis c a l years 1936 and 1937.
May
1937
DISTILLED LIQUORS
(Proof Gallons)
Stock in Customs
Bended Warehouses
at Beginning ....
Total Imports (Free
and Dutiable) ...
Available for consumption.... .
Entered into Consumption (a) ....
Stock in Customs
Bonded Warehouses
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 e n d ........ .
SPARKLING WINES
(Liquid Gallons)
Stock in Customs
Bended Warehouses
at beginning ....
Total Imports (Free
and Dutiable .....
Available for con—
sumption ........
Entered into consumption (a)....
Stock in Customs.
1 Bended Warehouses
L— at end ./.••
.......
••••••

April
1937

May
1936

1st 11 months fiscal
vear 1937
1936

3,698,298

3,910,085

3,595,850

3,702,586

3,522,644

1,237,068

1,033,549

1,262,894

15,102,367

9,454,080

4,935,366

4,943,634

4,858,744

18,804,953

12,976,724

1,213,779

1,244,152

890,066

14,994,269

8,817,761

3,714,806

3,698,298

3,964,793

3,714,806

3,964/793

1,204,062

1,192,077

1,637,673

1,637,508

1,540,948

320,714

265,846

190,798

2,858,303

2,517,020

1,524,776

1,457,923

1,828,471

4,495,811

4,057,968

252,232

123,108

3,242,021

2,327,109

1,245,379

1,204,062

1,703,925

1,245,379

1,703,925

195,764

183,318

230,995

216,919

288,091

31,147

38,907

15,577

510,290

210,809

246,572

727,209

. 498,900

278,860 \

226,911

222,225 ^

26,052

26,437

6,812

525,863

250,166

200,824

195,764

234,481

200,824

234,481

DUTIES COLLECTED ON:
Distilled Liquors$2,985,503 . $3,057.,891
$2,220,305 $36,786,945 $30,907,432
Still Wines
249,270
226,,062
152,916
2,900,694 2,898,133
Sparkling Wines
77,367
* 79,149
o39-#246
1,576,644 1,480,542
Total duties collected
\
r
011 liquors
$3,312,140
$3,363,102 $2,412,467 $41,264,283 $35,286,107
(a) Including withdrawals for ship supplies and diplomatic use.

1

October 4-

NewTSk York, New Orleans and S t . Paul,

S p e c ia l emphases w i l l be la id by in stru c to rs in
procedure connected w i t h s e a r c h e s and s e iz u r e s , procedure
with resp ect to w arrants, in v e stig a tio n s cf the scenes of crimes,
development o f c o n sp ira c ie s , ru le s of evidence and cou rt
procedure and on knowing what con trib u tio n s can be made by
e x p e r ts .
In the l a t t e r f i e l d , a tte n tio n w i l l be given
to the work of m ic ro sc o p ists, b a l l i s t i c s e x p e rts , handwriting
e x p e rts, p h y s ic is t s , chem ists, u lt r a - v i o le t ray te c h n icia n s,
photographers and the te c h n icia n s o f the

Treasury

Department L ab oratories*
In the eastern s e c tio n , d iscu ssion s of crim inal
in v e s tig a tio n w i l l be in charge of J . Mack Eaton of the Alcohol
Tax U nit and the

s p e c ia l tra in in g in law w i l l be

dire cted

by Fred W. Ifrew of the same o rg a n iza tio n .
C ehtral se ctio n tr a in in g w i l l be in charge
og George P . G r i f f i t h of the A lcohol Tax U n it, A lle n M. Murphy
of the S e cre t S e rv ic e and Joseph J. Bran sky of the Bureau of
N a r c o tic s .
In stru cto rs in th e western se c tio n are
Frank L. H ille r and David B. Paul of the A lcohol Tax Unit and
Dave McFarlane of the Bureau of Customs.
Further tra in in g periods w i l l be arranged
at the conclusion of the present s e r ie s to provide opportunities
fo r a l l o f the Department fs ■agon-to* aid inv'q ^ ftgalu i e to p a r t ic i
pate in the program.

00 O00

Wi,

7bo ,

i
t £&‘/
(&*$/

A s e r ie s of two-week tra in in g periods f o r
Treasury enforcement agents d ire c te d toward fu rth er improve
ment in th e ir medhods and r e s u lts was announced today by
S ecre ta ry Morgenthau.
S evera l o f the s e rv ic e s resp o n sib le for the
p ro te c tio n of the FSderal currency and revenue have been
g iv in g s p e c ia liz e d in s tr u c tio n to th e ir fo rc e s f o r a number
of years*

A co-ordinated schedule of tr a in in g has been

arranged by Harold N. Graves, A s s is ta n t to the S e c re ta ry ,
Qnd is bein g ca rrie d out under the d ir e c tio n of

Harry M.

D engler, ^chief of the f t v isio n o f rfr a in in g in the O ffic e of
the .Secretary*
D ivid in g the country in to e a s t , c e n tra l and
west s e c tio n s , the f i r s t of the new s e r ie s of tra in in g
assem blies w i l l open Monday, J u ly 26 in Boston, D e tro it and
San Francisco*

O ffic e r s from the S e cre t S e r v ic e , Coast Guard,

Bureau of N a rc o tic s, Bureau o f Customs and the I n te llig e n c e
Unit

and

Alconol Tax Unit of the Bureau of In te rn a l Revenue

w i l l p a rtic ip a te in the program.

Other c i t i e s included in

the current s e r ie s and the opening dates are as fo llo w s:
August 9 - New York, Chicago and S e a ttle *
August 23 - A tla n ta , New Orleans and Denver*
September 7$ - B altim ore, L o u is v ille end
Kansas C ity*
September 20 - P h ila d e lp h ia , A tla n ta and
Chicago •

TREASURY DEPARTMENT
Washington
FCR RELEASE, AFTERNOON NEWSPAPERS
Tuesday. Jnl.v 30, 1937,__________
7/19/37

Press Service
No. 10-81

A series of two-week training periods for Treasury enforcement agents
directed toward further improvement in their methods and results was an
nounced today by Secretary Morgenthau.
Several of the Services responsible for the protection of the Federal
currency and revenue have been giving specialized instruction to their forces
for a number of years.

A co-ordinated schedule of training has been arranged

by Harold N. Graves, Assistant.to the Secretary, and is being carried out
under the direction of Harry M. Dengler, Chief of the Division of Training
in the Office of the Secretary.
Dividing the country into east, central and west sections, the first of
the new series of training assemblies will open Monday, July 26, in Boston,
Detroit and San Francisco.

Officers from the Secret Service, Coast Guard,

Bureau of Narcotics, Bureau of Customs and the Intelligence Unit and Alcohol
Tax Unit of the Bureau of Internal Revenue will participate in the program.
Other cities included in the current series and the opening dates are as
follows:
August 9 - Now York, Chicago and Seattle.
August 23 - Atlanta, New Orleans and Denver.
September 7 - Baltimore, Louisville and Kansas City.
September 20 - Philadelphia, Atlanta and.Chicago.
October 4 - New York, New Orleans and St. Paul.

2

-

-

Special emphasis will be laid by instructors in procedure connected with
searches and seizures, procedure with respect to warrants, investigations of
the scenes of crimes, development of conspiracies, rules of evidence and court
procedure and on knowing what contributions can be made by experts.
In the latter field, attention will be given to the work of microscopists,
ballistics experts, handwriting experts, physicists, chemists, ultra-violet
ray technicians, photographers and the technicians of the Treasury Department
Laboratories.
In the eastern section, discussions of criminal investigation will be in
charge of J. Mack Baton of the Alcohol Tax Unit and the special training in
law will be directed by Bred W. New of the same organization.
Central section training will be in charge of Ceorge P. Griffith of the
Alcohol Tax Unit, Allen M. _Murphy of the Secret Service and Joseph J. Bransky
of the Bureau of Narcotics.
Instructors in the western section are Brank L, Hiller and David B. Paul
of the Alcohol Tax Unit and Dave McBarlane of the Bureau of Customs.
Burther training periods will be arranged at the conclusion of the present
series to provide opportunities for all of the Department* s law-enforcement
officers to participate in the program.

ocOoo

TBsisQHT ¡a p is m m
Washington

nst HEtiáss,

Press Servi«

w m a m rswspafbhs,
July 20. Ï.WT.________

!O r 6 V

7/19/3?

Seoretaiy of the Treasury Mor gant hau announced last evening that the tenders
fer two series of Treasury hills, to fee dated 3hly 21, 19® 7, which were offered
on July Id, were opened at the Federal Beserve banks on July 19.
Tendera were invitod for the two series to ths aggregate amount of #100 ,000,000
or thereabouts, and #301,426,000 was applied far, of which #100,131,000 was acceptai
The detalle of the two series (each for #30,000,000, or thereabouts) are ae follows:
148-DAT TOAMT1Y M I L S . Màâ0BXHS Q W m s m 16. 1937
Total applied for
Total accepted

« #144,990,000
*
30,136,000

Singes

High
Low
Average Price-

99.844
99,0#6
99.8Í?

fuiraient rate approximately 0.379 percent
•
»
•
0.399
*
»
»
*
0.397
»

(At the low price of 99.83(6 only 93 percent of the eaount bid for was accepted)
273-DAY ERIASPRI BILLS. MAT0HIKG APRIL 20. 1938
Total applied for
Total aooaptod
Pangai
High
—
Low
Average price-

-

#136,436,000
30,013,000

99.700
99.614

99.620

Equivalent rate approximately 0.396 percent
m
m
m
0.309
*

*

*

«

0.802

*

(At the low price of 99.614 only 37 percent of the ernennt bid for wae accepted)

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING- NEWSPAPERS,
Tuesday. July 20» 1937._________
7/19/37

Press Service
No* 10-82

Secretary of the Treasury Morgenthau announced last evening that the tenders
for two series of Treasury hills, to he dated July 21, 1937, which were offered
on July 16, were opened at the Federal Reserve hanks on July 19.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $301,426,000 was applied for, of which
$100,151,000 was accepted.

The details of the two series (each for $50,000,000,

or thereabouts) are as follows!
148-DAY TREASURY BILLS, MATURING- DECEMBER 16, 1937
Total applied for Total accepted
Range!
High
Low
*
Average price

$144,990,000
50,136,000

99.844
99*836
99,837

Equivalent rate approximately 0.379 percent
«
«
»
0.399
»
»
»
»
G.397
»

(At the low price of 99.836 only 95 percent of the amount hid for was accepted)
273-DAY TREASURY BILLS. MATURING APRIL 20. 1938
Total applied for Total accepted
Range!
High
Low
Average price

$156,436,000
50,015,000

99.700
99^614
99.620

Equivalent rate approximately 0.396 percent
«
»
»
0^509
»
«
»
»
0.502
»
/‘

(At the low price of 99.614 only 87 percent of the amount hid for was accepted)

— oOO'

-3 -

C h ief Ordnance O ffic e r — Commender

G,w. S tew art# of the

Coast Guard.
C h ief Range O f f ic e r ---Coast

Guard.
Last y e a r ’ s

winning in d iv id u a l marksman,

of the Custamjk border
shot

Gunner Charles M. Hubbard* of the

B a llin g e r ,

P a tro l a t Bi Paso, Texas, who

a'^^81 out o f a p o ssib le 300, w i l l be among the^Sompetitors*
The

team cun

la s t year^Upwas

< t l ( ?

B o rd e r P a t r o l - 0

?S

- 0 O0 -

-

w

won by the Customs

2-

^he o f f i c i a l
• 38«-^c a lib r e

S ervice

weapon f or the Treasury shoot w i l l be the

R evolverj^ rour-in ch

b a rre l and fix e d sig h ts.

The sch ed u le:
Monday, august 9 -Treasury /*wg s?so m en t»cffrip——

R e g istra tio n of competing
■ * Room 3607, In te rn a l Revenue

__*L

■ ^uildingj^He^ry-M. 'Dengler, c n ie f of d i v i s i o n of T rainin g
o f f i c e o f the Secretary.
jLx^n^&Jr

c^f■L
çP

AJK,<*/*“

Tue sa ay, u^ugu
•ugust

10— Morning— S e c r e ta r y 's In d ivid u al

match f o r m edals.
r5L~.

Tuesday, August 10— A fternoon--- Team Matches fo r ytlsL

S e c re ta ry *s

Cup•
Wednesday, August 1 1 —

p ick

the Treasury

In d ivid u al t a r g e t match to

team fo r the N ational

SJLirft

M 0SM » a t Camp
*\
A,

P e rry ,
\

For the in d iv id u a l T reasury Matches the f i r s t
w i l l be a gold medal;$he
the f i f t h t o

second, t h ir d and

tenth awards,
The

S hS

requirem ents f o r

award

fo u r th , s i l v e r medalsjia^

bronze m edals.
slow, timed and rapid f ir e

are as fo llo w s :
Slow f i r e - -

$ minutes allow ed,

ten shots at

25

<\

y a rd s•
Timed f i r e -

&

fte e n seconds,

f iv e snots at

25

y a rd s•
Rapid f i r e — jjle v e ii seconds , f i v e shots at 15 yards
(jLnLadditlon t o l r , D engler, O f f ic ia ls f a r the matches are
Judge----C . b . L is t e r , S e c re ta ry o f the N ational R ifle
A sso cia tio n

p r o g r a m f o r t r a i n i n g its a g e n t s

in the use of firearms,

a r r a n g e m e n t s have «¡¡Sfe b e e n m a d e to h o l d a V
C o m p e t i t i o n on th e C amp S i mms

Small-Arms

r a n g e of the d i s t r i c t of
« m |L

C o l u m b i a N a t i o n a l G u a r d A u g u s t 10 and 1 1 .
of p r o f i c i e n c y in m a r k s m a n s h i p w ere
The

revolver

Similar-esEhlSiSions.

held l a s t y e a r in November.

t r a i n i n g is a d e v e l o p m e n t

of

orders i s s u s e d b y S e c r e t a r y M o r g e n t h a u e a r l y in his

administration

t h a t a ll l a w - e n f o r c e m e n t

r e q u i r e d to

c a rry arms

o f f i c e r s of t h e Department

should be t r a i n e d by the Coast G u a r d t o q u a l i f y as

expe r t m a r k s m e n .
To the w i n n i n g t e a m i n this y e a r ’s wmkwkiL
m a t c h e s w i l l go a silv e r cup of f eged ^ b y the S e c r e t a r y of the
Treasury, w h i l e

the b e s t i n d i v i d u a l m a r k s m e n w i l l r e c e i v e gold,

s i l v e r end b r o n z e m e d a l s .
*

the f i r s t

the T r e a s u r y D e p a r t m e n t
at C amp Perry,
teams
Guard,

time

£ h i s y e a § the p r o g r a m w i l l ^

in the N a t i o n a l C h a m p i o n s h i p m a t c h e s

Ohio, August

ZZ to S e p t e m b e r 11*

f r o m the Army, Navy, M a r i n e
poli c e d e p a r t m e n t s and

Corps,

other

A t C a m p 2?erry

C o a s t Guard,

o r g a n i zations w i l l participate,

O n the W a s h i n g t o n p r o g r a m August
i n d i v i d u a l c r ack shots and
Bureau

t h r e e - m a n teams

of Customs, B u r e a u of N a r c o t i c s ,

H o u s e P o l ice,

1 0 w i l l be

f r o m the S e c r e t Service.

A l c o h o l Tax U n i t ,

B u r e a u cf E n g r a v i n g and P r i n t i n g ,

end the B u r e a u of the M i n t .

Na t i o n a l

White

T r e a s u r y Guards,

more

\

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS,
Thursday. July 22. 1937._______
7/21/37

Press Service
No. 10-83

As a feature of the Treasury Department* s program for training its
agents in the use of firearms, arrangements have been made to hold a SmallArms Competition on the Camp Simms range of the District of Columbia National
Guard August 10 and 11.

Similar tests of proficiency in marksmanship were

held last year in November.
The revolver training is a development of orders issued by Secretary
Morgenthau early in his administration that all law-enforcement officers of
the Department required to.carry arms should be trained by the Coast Guard to
qualify as expert marksmen.
To the winning team in this year* s matches will go a silver cup awarded
by the Secretary of the Treasury, while the best individual marksmen will re
ceive gold, silver and bronze medals.
Eor the first time the program will this year involve the selection of
a six-man team to represent the Treasury Department in the National Champion
ship matches at Camp Perry, Ohio, August 22 to September 11.

At Camp Perry

teams from the Army, Navy, Marine Corps, Coast Guard, National Guard, police
departments and other organizations will participate.
On the Washington program August 10 will be individual crack shots and
three-man teams from the Secret Service, Bureau of Customs, Bureau of Narcotic
Alcohol Tax Unit, White House Police, Bureau of Engraving and Printing,
Treasury Guards, and the Bureau of the Mint.

~

2

~

The official weapon for the Treasury* shoot will he the .38-calibre
Service Revolver of four-inch barrel and fixed sights.
The schedule:
Monday, August 9 - Registration of competing Treasury* Agents in
Room 3607, Internal Revenue Building, the office of Harry M. Dengler, Ohief
of the Division of Training, Office of the Secretary, who has direct charge
of the competition*
Tuesday, August 10 - Morning - Secretary’s Individual Match for medals.
Tuesday, August 10 - Afternoon - Team Matches for the Secretary’s Cup.
Wednesday, August 11 - Individual target match to pick the Treasury
team for the Rational S>hoot at Camp Perry.
. For the individual Treasury Matches the first award will he a gold
medal; the second, third and fourth, silver medals, and the fifth to tenth
awards, bronze medals.
The requirements for slow, timed and rapid fire are as follows;
Slow fire - Five minutes allowed, ten shots at 25 yards.
Timed fire - Fifteen seconds, five shots at 25 yards.
Rapid fire - Eleven seconds, five shots at 15 yards.
In addition to Mr. Dengler, officials for the matches are;
Judge - C. B. Lister, Secretary of the Rational Rifle Association.
Chief Ordnance Officer - Commander G, W, Stewart of the Coast Guard.
Chief Range Officer - Gunner Charles M. Hubbard of the Coast Guard.
Last year’s winning individual marksman, E. L. Ballinger, of the
Customs Border Patrol at El Paso, Texas, who shot a score of 281 out of a
possible 300, will be among the 1937 competitors.
The team cup last year was won by the Customs Border Patrol of
El Paso.
ooOoo

W g * f 8 ® WPASBlBlf
USBNfOR

K 8 BSLKSaS, I M M

H » > iW

July Z?. 188T. ...

Frees Service

Acting Secretary of the Treacary llagill announced last evening that the
tenders for too series of Treasury bills, to be doted Ally 28, 1037, which were
offered on ^Uly 33, were opened at the Federal Tieserve banks «si July 3d*
lenders were invited for the two series to the aggregate amount of
#100,000,003, or thereabouts, and #339,300,000 wee applied fer, of which
#100,094,000 m e accepted*

the detail# ©f the two series (each far #80,000,000,

or thereabout«) are ae followst

total applied for *
total aeceptod
Ranget
High

#137,701,0«)
80,0X2,000

00.866
00.880
90.883

lam
Average price

Equivalent 3ate approximately 0.340 percent
*
*
«
0.880
*
*
•
*
0.878
*

(At the lew priee of 00.880 only 47 percent ©f the amount bid for m e accepted)
275-QAY tHKABTOT B IL L S . MafBTOO APRIL 87, 1088

t o ta l im plied fo r *
to ta l aeeepted
*
Ranges
High
low
Average price

*

#181,603,000
80,033,000

00.380
00.626
00.432

equivalent rate approximately 0*443 percent
m
m
«
0.408
*
«
m
0.485
«

(At the low price of 00.626 only 37 percent of the amount hid for wee accepted)

6

TREASURY DEPARTMENT
Washington

Press Service
No. 10-84

EQR RELEASE, MORNING NEWSPAPERS,
Tuesday. July 27. 1937.________
7/26/37

Acting Secretary of the Treasury Magill announced last evening that
the tenders for two series of Treasury Dills, to he dated July 28, 1937, which
were offered on July 23, were opened at the Federal Reserve hanks on July 26.
Tenders weFe invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $289,399,000 was applied for, of which
$100,044,000 was accepted.

The details of the two series (each for $50,000,000,

or thereabouts) are as follows:
142-DAY TREASURY BILLS. MATURING DECEMBER 17. 1937
Total applied for Total accepted
Range:
High
Low
Average price

-

$137,791,000
50,012,000

99.866
99.850
99.853

Equivalent rate approximately 0.340 percent
»
«
w
0.380
tt
H
H
h
0.372

(At the low price of 99.850 only 67 percent of the amount hid for was accepted)
273-DAY TREASURY BILLS. MATURING APRIL 27. 1958
Total applied for Total accepted
Range:
High.
Low
Average price

~

$151,608,000
50,032,000

99.650
99.626
99.632

Equivalent rate approximately 0.462 percent
«
»
«
0.493
"
«
«
0.485
tr

(At the low price of 99.626 only 87 percent of the amount hid for was accepted)

— oOo—

t

During the^fiscal year, the Intelligence Unit of the Bureau of
Internal Revenue handled 3,751 miscellaneous cases, including many
investigations for the Bureau of Narcotics, the Customs Service,
the Office of the Comptroller of the Currency, the Procurement Divi
sion, and other Treasury branches. Persons under consideration for
appointment to official positions throughout the Treasury Department
were investigated by this Unit. Three thousand nine hundred thirtyfour applications of attorneys and agents to practice before the
Treasury Department were investigated, as well as 84. cases involving
charges against enrolled agents and attorneys. Sixty-two applications
were rejected, and 8 persons practicing before the Department were
disbarred, 4- were suspended, and 6 others were reprimanded.
Cases involving charges against 126 employees of the Internal
Revenue Service were handled during the year, resulting in the separa
tion from the service of 103 employees and the prosecution of 11, of
whom 10 were convicted.
The major work of the Unit during the fiscal year related to
cases involving frauds upon Internal Revenue laws. These investiga
tions were made in cooperation with Internal Revenue Agents and
Deputy Collectors, and as a result 295 individuals were recommended
for prosecution. A large number of these cases are still pending,
but during the period 78 individuals were convicted for tax frauds.
The investigations of these cases resulted in recommendations for
the assessment of additional taxes and penalties amounting to more
than $25,000,000.

Coast Guard

Only 11 vessels were seized by the Coast Guard in the fiscal
year 1937, compared with 34 in the previous fiscal year*

Liquor

seizures declined from a value of $176,890 in 1936 to the negligible
figure of $2,176 in 1937.

The value of all seizures decreased from

$282,181 for 1936 to $13,557 in 1937.

Only 6 persons were arrested,

compared with 48 in the previous fiscal year*
As the result of further coordination of Treasury enforcement
agencies, the number of stills seized in collaboration with the Alcohol
Tax Unit increased from 140 to 221.

The Coast Guard planes also

sighted 359 stills, which were later seized by the Alcohol Tax Unit.
During the past fiscal year more than 4,500 vessels were
reported for violation of the navigation laws, for which violations
the reported vessels were liable to fines amounting to approximately
$659,000.

Bureau of Customs

For the 11 months ended May 31, 1937, the Bureau of Customs
reported seizures amounting to 10,203, compared with 13,856 in the
corresponding period of the previous fiscal year, a decrease of

The
comparison by types of seizures follows:

Type of seizure
Merchandise
Liquors
Narcotics
Prohibited articles:
Obscene
Lottery
Total

11 months
ended May 31,
1936
5,929
3,036
280

11 months
ended May 31,
1937
6,479
2,260
390

684
3,927
13,856

514
157
9,800

Increase
or
decrease (-)
550
-776
110
-170
-3,770
-4,056

The seizures for the 11 months of the past fiscal year were valued
at $1,203,065, compared with a total value of #1,469,923 for the corres
ponding period of the previous fiscal year*

Merchandise seizures accounted

for #921,465 in 1937 compared with #381,916 in 1936*

Among the seizures

in 1937 were 25 boats and 478 automobiles, representing a decrease from
seizures of 69 and 595,respectively, in 1936*

thefts

The Bureau

continued to solicit and receive the cooperation of

state and municipal officials.

The Uniform State Narcotic Drug Law was

enacted by the legislatures and approved by the Governors of 9 states
during the year, making a total of 38 states in which this legislation
is now effective.

All 48 states and the Territory of Hawaii now have

laws for the control and suppression of the traffic in marihuana or cannabis.!
f i pimae#»

NarcoticJoff:

s received in the Bureau of Narcotics covering seizures of
Marihuana by state and municipal authorities throughout the country for the
calendar year 1936 el
increasing national significance.

04Miwl the Marihuana problem 4» one of
Seizures were made in 12 states from

which none had theretofore been reported.

A total of 31 states reported

seizures of varying quantities of the drug and destruction of considerable
areas of the growing plants, as follows:

Alabama, Arizona, California,

Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky,

Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi,
Missouri, Montana, Nevada, New Jersey, New Mexico, New York, Ohio,
Pennsylvania, Rhode Island, Texas, Utah, Virginia, Washington, Wisconsin
and Wyoming.

Seizures were also reported from the District of Columbia

and the Territory of Hawaii.

6«»

B u r e a u of N a r c o t i c s*

The activities of the Bureau of Narcotics during the fiscal year
ended June 50, 1957, resulted in 5,469 arrests for violations of the
Federal narcotic laws, the seizure of 5,962 ounces of narcotic drugs
and 115 automobiles as compared with 5,555 arrests, and seizures of
5,280 ounces of drugs and 109 automobiles during the fiscal year 1956,
—
The arrests madey-the quantities of drugs confiscated,
■thfe,..—
rnflphias

show material increases during the

fiscal year 1957 as compared with the fiscal year 1956, but there was
a noticeable decrease in the number of violations reported, both in the
registered and unregistered classifications, a total of 4,592 violations
being reported for the year as compared with a total of 5,859 reported
during the previous year.

This decrease was due primarily to the con

centration of enforcement efforts against the major violators, as is
evidenced by the greater number of actual arrests which resulted from
the lesser number of violations reported*
While the number of violations reported in each group decreased,
this decline was reflected principally in the registered group, only
1,066 violations, or 2 ^ } of the total violations reported, being against
registered persons as compared with 2,424 such violations, or 4]^) of the
total violations reported, during the previous fiscal year.

As in the

case of the unregistered violators, this decrease was due iHttfe to the
concentration of efforts against principal offenders*

L T h e f o l l o w i n g table shows the A l c o h o l Tax U n i t ’s seizures
of s t i l l s b y statesaqaeh-frhc Aljjtorfrtieo f r o m 1 tiw " i 9 g er"fl ? i_ml ¿iuju

Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
G-eorgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusett s
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Bhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Total
Wtei

Fiscal Year
1936

Increase or
Decrease (-)

2,466
29
242
134
20
43
16
5
739
1,530
26 /
2
299
242
19
64
675
254
1
318
78
315
60
644
240
10
30
5
2
77
21
566
1,444
22
567
516
21
401
20
649
14
635
867
8
1
1,180
43
459
110
7

1,375
88
304
135
47
80
19
13
630
1,165
69
5
369
342
31
114
601
427
3
305
75
449
118
610
407
45
72
11
4
103
59
570
1,341
33
829
418
53
504
32
579
9
634
808
13
1,187
84
309
143
8

1,091
- 59
- 62
- 1
- 27
- 32
- 3
- 8
109
365
- 43
- 3
- 70
-100
- 12
- 50
74
-173
- 2
13
3
-134
- 58
34
-167
- 35
- 42
- 6
- 2
- 26
- 38
- 4
103
- 11
-262
98
- 32
-103
- 12
70
5
1
59
- 5
1
- 7
- 41
150
- 33
- 1

16,141

15,629

512

Fiscal Year
1937

State

—

The figures for the fiscal year 1937 are preliminary

-4--

A lcohol Tax Unit*

The Alcohol Tax Unit reported an in crease of
512 over f i s c a l 1936 in tgfeft seizu re^ of i l l i c i t s t i l l s hut
pointed out that th is r is e was the r e s u lt o f " in te n s ifie d
enforcement operations with increased personnel in the
S ta te s of Alabama and G eorgia*"

For the balance of the

country there was a decline of 944 from 1936 to 1937 in the
number of s t i l l s s e iz e d , with most of the s ta te s sharing
i n «the decrease*
Comparative f ig u r e s fo r the two p e rio d s , with
in crease or decrease end per ce nt of change, are as fo llo w s:

Fiscal
year
1936

Fiseal
year
1937
Stills seized
Distilled spirits (gallons)
Mash (gallons)

512

3.3

730,646

- 254,520

- 34.8

14,671,146

- 2,313,586

- 15.8

476,126

MNMttxC
- />.0
m m 23PP#»'1

Autos
a*

trucks
Appraised value of property
Persons arrested

Note:

Percent
of
Change

15,629

16,141

12,357,560

Increase
or
Decrease (-)

M 1
'^ua&rr'-

#3,977,179

#4,201,485

- 224,306

-

5.3

29,476

31,504

- 2,028

-

6.4

The figures for the fiscal year 1937 are preliminary.

Secret Service Division

reported
that the amount of counterfeit notes turned over to the Secret
S'
Service/ciecreased from $736,6?0~in_l536 to #487,643 In 1937, a decline
of more than one-third.

The amount of counterfeit coins received de

clined from #67,535 in the previous fiscal year to #64,750 in 1937.
In addition to the amounts stated above, #122,767 in counterfeit notes
and #3,253 in counterfeit coins were seized from persons making or
passing counterfeit money.

I

le Secret Service Division also made public a comparative

statement showing the total number of persons arrested by classificac
§
m
tion for tjie fiscal years 1936 and 1937, as follows:

Hi

Offense

Making or passing counterfeit
noteSy
Making <M passing counterfeit
coinggl
Check fjjpgeries
All other
Total

Fiscal year
1937

Fiscal year
1936

Increase or
decrease (-)

651

935

-284

596
1,215
244
2,706

651
879
235
2,700

- 55
336
9
6

and

rev e n u e s w a s

a f f o r d e d d u r i n g the f i s c a l y e a r 1 9 3 7 b y

c o n t i n u e d c o - o r d i n a t i o n of T r e a s u r y e nforcement
it Sras s h ewn t o d a y in reports

agencies,

of the i n d i v i d u a l services.

A d j u s t m e n t s in the g e o g r a p h i c a l districts
of the

several a g e n c i e s were m a d e

d u r i n g the t w e l v e - m o n t h

p e r i o d to p r o v i d e f o r c l o s e r c o - o p e r a t i o n in l o c a l s i t u a t i o n s .
F i f t e e n e n f o r c e m e n t d i s t r i c t s t h r o u g h o u t the U n i t e d S t a t e s
f o r the S e c r e t Service,
N a r c otics,
Revenue

the A l c o h o l T a x U n i t ,

t h e I ntelligence

Unit

and the Customs ^ e n c y

exceptions,

have headquarters

S e r v i c e new,

Paul,

Denver,

Chicago, New

with

a few

A t l a n t a , L o u i sville,

Orleans, K a n s a s City, S t *

S a n F r a n c i s c o a n d Seattle.
I n the h e a d q u a r t e r s

and w e s t

of Internal

of f i c e s in B o s ton, N e w York,

P h i l a d e l p h i a , N e w a r k , B a l t imore,
ffatancK Cleveland,

o f the B u r e a u

the B u r e a u of

c o a s t s the C o a s t G u a r d is also

cities on the eas t
represented by

c o - o r d i n a t i n g officers.
__

*

S e d u c t i o n in c o u n t e r f e i t i n g to a l m o o t

’tetó’ its volutoe of the p r e v i o u s fiscal
the

■
ÍÍl

s e i z u r e s of i l l i c i t liquor and m a s h

year, a d e c l i n e in
in the

face of

in still seizures and -ecrfrfeborgti-ve e f f o r t s to keep
f r e e of a l c o h o l - s m u g g l i n g vessels were
of the y e a r ®

increases

the coasts

o u t s t a n d i n g achievements

TREASURY DEPARTMENT
Washington
CAUTION - Please Watch Release Date.
FOR RELEASE, AFTERNOON PAPERS,
Wednesday. August 4, 1937.
f/2/37

Press Service
No• 10-85

Increased protection for the Federal currency and revenues was afforded
during the fiscal year 1937 by continued coordination of Treasury enforcement
agencies, it was shown today in reports of the individual services.
Adjustments in the geographical districts of the several agencies were made
during the twelve^month period to provide for closer cooperation in local situ
ations.

Fifteen enforcement districts throughout the United States for the Secret

Service, the Alcohol Tax Unit, the Bureau of Narcotics, the Intelligence Unit of
the Bureau of Internal Revenue and the Customs Agency Service now, with a few
exceptions, have headquarters offices in Boston, New York, Philadelphia, Newark,.
Baltimore, Atlanta, Louisville, Cleveland, Chicago, New Orleans, Kansas City, St.
Paul, Denver, San Francisco and Seattle.
In the headquarters cities on the east and west coasts the Coast Guard is
also reqpresented by coordinating officers.
Reduction in counterfeiting to less than two-thirds its volume of the pre
vious fiscal year, a decline in the seizures of illicit liquor and mash in the face
of increases in still seizures and successful efforts to keep the coasts free of
alcohol-smuggling vessels were outstanding achievements of the year.
Secret Service Division
The Chief of the Secret Service reported that the amount of counterfeit note
turned over to the Secret Service by banks and other innocent takers, decreased
from $736,670 in 1936 to $487,643 in 1937, a decline of mere than cne-third,

The

amount cf counterfeit coins received declined from $67,535 in the previous fiscal
year to $64,750 in 1937,

In addition to the amounts sjbated above, $132,767 in

~ 2 ~

counterfeit notes and $3,253 in counterfeit coins were seized from persons making
or passing counterfeit money.
The Secret Service Division also made public, a comparative statement showing
the total number of persons arrested by classification for the fiscal years 1936
and 1937# as followsX

Offense

Piseal year
1937

Making or passing counterfeit notes
Making or passing counterfeit coins
Check forgeries
All other
Total

651
596
1,215
344
2,706

Fiscal year
1936
935
651
879
__ 235
2,760

Increase
decrease
—284
- 55
336
9

i

Alcohol Tqx Unit
The Alcohol Tax Unit reported an increase of 512 over fiscal year 193ft in
seizures of illicit stills but pointed out that this rise was the result of
”intensified enforcement operations with increased personnel in the States of
Alabama and Georgia, *

For the balance of the country there was a decline of 944

from 1936 to 1937 in the number of stills seized, with most of the states sharing
in the decrease.
Comparative figures for the two periods, with increase or decrease and per
cent of change, are as follows:

Stills seized
Distilled spirits (gallons)
Mash (gallons)
Autos and trucks
Appraised value of property
Persons arrested

Fiscal year
1937

Fiscal year
1936

Increase or
Decrease (-)

Percent of
Change

16,141
476,126
12,357,560
.• 4,498
$3,977,179
29,476

15,629
730,646
14,671,146
5,111
$4,201,485
31,504

512
- 254,520
-2,313,586
613
- $224,306
—
2,028

3.3
-34.8
-15.8
-12,0
5,3
- 6,4

Eke figures for the fiscal year 1937 are preliminary.

The following table shows the Alcohol Tax Unit!s seizures of stills by
states*
Fiscal Year
1936

Increase or
Decrease

1,375
*2,466
Alabama
88
29
Arizona
304
242
Arkinsas
135
134
California
47
20
Colorado
80
48
Connecticut
19
16
Delaware
13
5
District of Columbia
630
Florida
739
1,165
1,530
Georgia
69
26
Hawaii
5
2
Idaho
369
299
Illinois
342
242
Indiana
31
19
Iowa
114
64
Kansas
601
675
Kentucky
427
254
Louisiana
3
1
Maine
305
318
Maryland
75
78
Massachusetts
449
315
Michigan
118
60
Minnesota
610
644
Mississippi
407
240
Missouri
45
10
Montana
72
30
He braska
11
Nevada
5
4
2
Hew Hampshire
103
77
Hew Jersey
59
21
Hew Mexico
570
566
Hew York
1 A A A1,341
North Carolina
33
22
North Dakota
567
829
Ohio
418
516
Oklahoma
53
21
Oregon
504
Pennsylvania
401
32
20
Rhode Island
579
649
South Carolina
14
9
South Dakota
634
635
Tennessee
808
867
Texas
8
13
Utah
1
Vermont
1,187
1,180
Virginia
84
43
Washington
309
459
West Virginia
143
110
Wisconsin
8
7
Wyoming
16,141
15,629
Total
Notes The figures for the fiscal year 1937 are preliminary*

1,091
* 59
•* 62
1
A 27
- 32
3
8
109
365
- 43
~
3
- 70
- 100
- 12
A 50
74
- 173
2
13
3
- 134
*• 58
34
- 167
- 35
- 42
*»
6
2
«* 26
- 38
4
103
- 11
- 262
98
- 32
- 103
«•
12
70
5,
1
59
5
1
7
- 41
150
- 33
1
512

State

Fiscal Year
1937

— 4 *•
Bureau of Hareotics.
The activities’ of the Bureau of Narcotics during the fiscal year ended
June 30, 1937, resulted in 3,469 arrests for violations of the Federal narcotic
laws, the seizure of 3,962 ounces of narcotic drugs and 115 automobiles as com
pared with 3,333 arrests, and seizures of 3»280 ounces of drugs and 109 auto
mobiles during the fiscal year 1936«
The arrests made and the quantities of drugs confiscated show material
increases during the fiscal year 1937 as compared with the fiscal year 1936, but
there was a noticeable decrease in the number of violations reported, both in the
registered and unregistered classifications, a total of 4,592 violations being
reported for the year as compared with a total of 5,859 reported during the
previous year.

This decrease was due primarily to the concentration of enforce

ment efforts against the major violators, as is evidenced by the greater number
of actual arrests which resulted from the lesser number of violations reported.
While the number of violations reported in each group decreased, this
decline was reflected principally in the registered group, only 1,066 violations,
or 23 per cent of the total violations reported, being against registered persons
as compared with 2,424 such violations, or 41 per cent of the total violations
reported, during the previous fiscal year.

As in the case of the unregistered

violators, this decrease was due to the concentration of efforts against principal
offenders*
The Bureau continued to solicit and receive the cooperation of state and
municipal officials.

The Uniform State Narcotic Drug Law was enacted by the

legislatures and approved by the Governors of 9 states during the year, making a
total of 38 states in which this legislation is now effective.

All 48 states and

the Territory of Hawaii now have laws for the control and suppression of the
traffic in marihuana or cannabis.

Reports received in the Bureau of Narcotics covering seizures of marihuana
toy state and municipal authorities throughout the count ly for the calendar year
1936 established the marihuana problem as one. of increasing national significance*
Seizures were made in 12 states from which none had theretofore been reported*

A

total of 31 states reported seizures of varying quantities of the drug and des
truction of considerable areas of the growing plants, as follows:

Alabama,

Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana,
Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi,
Missouri, Montana, Nevada, New Jersey, New Mexico, New York, Ohio, Pennsylvania,
Rhode Island, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming*

Seizures

were also reported from the District of Columbia and the Territory of Hawaii.
Bureau of Customs
Por

the 11 months ended May 31, 1937, the Bureau of Customs reported

seizures amounting to 10,203, compared with 13,856 in the corresponding period of
the previous fiscal year, a decrease of 3,653*

The comparison by types of

seizures follows:

Tvoe of seizure
Merchandise
Liquors
Narcotics
Prohibited articles:
Obscene
Lottery
_.
Total •

11 months
ended May 31,
1937
6,479
2,260
390
514
157
9.800

11 months
ended May 31,
1936
5,929
3,036
280
684
3.927
13.856

Increase
or
Decrease (-)
550
-776
110
-170
-3.770
-4,056

The seizures for the 11 months of the past fiscal year were valued at$1,203,065,. compared with a total value of $1,469,923 for the corresponding period
of the previous fiscal year.

Merchandise seizures accounted for $921,465 in 1937

compared with $381,916 in 1936.

Among the seizures in 1937 were 25 boats and 478

automobiles, representing a decrease from seizures of 69 and 595, respectively,

~ 6 Coast Guard
Only 11 vessels were seized by the Coast Guard in the fiscal year 1937,
compared with 34 in the previous fiscal year.

Liquor seizures declined from a

value of $176,890 in 1936 to the negligible figure of $2,176 in 1937.
of all seizures decreased from $282,181 for 1936 to $13,557 in 1937.

The value
Only 6

persons were arrested, compared with 48 in the previous fiscal year.
As the result of further coordination of Treasuiy enforcement agencies,
the number of stills seized in collaboration with the Alcohol Tax Unit increased
from 140 to 221.

The Coast Guard planes also sighted 359 stills, which were

later seized by the Alcohol Tax Unit.
D uring the past fiscal year more than 4,500 vessels were reported for
violation of the navigation laws, for which violations the reported vessels were
liable to fines amounting to approximately $650,000.
Intelligence Unit,
During the past fiscal year, the Intelligence Unit of the Bureau of
Internal Revenue handled 3,751 miscellaneous cases, including many investigations
for the Bureau of Narcotics, the Customs Service, the Office of the Comptroller of
the Currency, the Procurement Division, and other Treasury branches.

Persons

under consideration for appointment to official positions throughout the Treasury
Department were investigated by this Unit.

Three thousand nine hundred thirty-

four applications of attorneys and agents to practice before the Treasury Depart
ment were investigated, as well as 84 cases involving charges against enrolled
agents and attorneys.

Sixty-two applications were rejected, and 8 persons

practicing before the Department were disbarred, 4 were suspended, and 6 others
were reprimanded.

7
Cases involving charges against 126 employees of the Internal Revenue
Service were handled during the year, resulting in the separation from the
service of 103 employees and the prosecution of 11, of whom 10 we re convicted.
The major work of the Unit during the fiscal year related to cases in
volving frauds upon Internal Revenue laws.

These investigations were made in

cooperation with Internal Revenue Agents and Deputy Collectors, and as a result
295 individuals were recommended for prosecution.

A large number of these cases

are still pending, "but during the period 78 individuals were convicted for tax
frauds.

The investigations of these cases resulted in recommendations for the

assessment of additional taxes and penalties amounting to more than $25,000,000*

'"'¥ fiV iri

■
' Hi I II

ej t o
1 o r!
i -n
-United States Coast GuardAcaLlec
*/\ r»p.l
ca±±ea
into
being in 1790 by the First
Congress, under the designation of the Revenue Marine. The Continental Navy
had been disbanded after the end of the Revolutionaiy War, «nr) for more than
six years after its founding tie little Revenue fleet of ten vessels was the
only armed force afloat to safeguard the maritime interests of the struggling
young nation^ The first commission granted to an officer of this organizaii on,
in fact the first commission to any officer afloat, was signed by President
Washington and tendered to Captain Hopley Yeaton. The original document is now
preserved in the Library of Congress, in Washington.

The Revenue Marine soon became the United States Revenue-Cutter
Service, operating under the Treasury Department, and began to acquire new
duties under various other Departments as its organization was built up*
Established primarily for protecting the slender revenue of the young re
public by suppressing smuggling, more and more duties were assigned to it*
From a humble beginning, the floating units of the Coast Guard, supplemented
by the wings of powerful amphibian planes, have been augmented and have been
developed into a complete coastal police force, protecting the shores of the
Atlantic, Pacific and Great Lakes, the M M l inland waterways, the waters of
Alaska and our insular possessions.
f b m g p n t a m e m pnt nf nil FuduJi'a:1 tews Jn higher seas and navigable watery
rfche United States. Twenty-three years ago another duty wasaydd<&d,!W,^ #That cf
maintaini ng._...ai_..affi cient patrol each S p ang and
h e N o rth Atlantic
OcesyrTguardi ng. ag ai n s t t
il in the region of the!
Grand Banks, under the provisions
tion for Safety \
of Life at Sea, to safeguard ££af*tf8ean lanes.
se duties however, the one of paramount importance - the
cne for which the entire organization of the .Service is coordinated to perform
vith all the energy, fidelity and courage aft
c ommand - is the^saaiBau
'ife and nr oner tv on the cJIstis an d
* niiVM
.—

y'P'T'

The Life-Saving Service^€a*tabli&ed’’under the Treasury Department
in 1845 and gradually, expanded unti l it' was operating a chain of stations on
both coasts and ^
"
T— 1—
wnn nlnr ln lln tiir U iiu
up ii.Li
.ijng Ilf? r— 3
¿
r
r
n
e^ons^oY'^ecomomy end coordination, these two
»&'
!■lifirip.''.services
,|
n^"liiiii^ i'iji^»ii»i*iAirwe re amalgamated
•Nf
They became
one symbol.' of service to the maritime people of this country under the name cf

t.cqiraErapfcrt. -

the Treasury Denar
■ate as a part ofvthe N<
orders of the Secretary of the
ivy, In t.-fma.
when the President sh

miwA

fulfill a mission - no-matter what the cost^ ’
«¿Ssjoassed on to us the sacred
and enviable reputation of accomplishment we of the Service today enjoy, and
it is both proper and fitting that we, at this time, pause to pay tribute to
their manory,
"¥ie are justly proud of these splendid records now entrusted to
our safekeeping, we are proud of our record of today, end we proudly look
forward to the future, and to the part in the maMtim© life of the Nation is
we may be privileged to play#

"We are most grateful for our many friends of the other Services,
as well as to those of civil pursuits, and extend to all a most cordial
invitation to visit our ships and stations, which are open today for their
inspection - not only to make and to renew acquaintances, but to gain a
broader knowledge of the aims and purposes of the Coast Guard".

’’Upon the occasion of the 147th snniversary of the Coast Guard
August 4, 1937 - the Service may justly reflect with pride upon a long
record of distinguished public service in peace and in war - always marked
by honor.
"This splendid record has come into being by loyal and devoted
performance of duty, by unfailing adherence to high standards, and by the
determination of those who have preceded you to have the Coast Guard wcr thy
of the esteem, of the Nation. Yours is now a high trust - that of carrying
on in the same traditional spirit and with, the urge to render greater public
service to the credit of your Corps.
”In extending my personal congratulations upon this eventful
occasion, I have the fullest confidence, from my knowledge of your pride in
the Coast Guard and its history and of your resolve to do efficiently and
creditably your assigned tasks, that the future of your Service will be
wor thy of the pa st.n

The f o l l o w i n g m e s s a g e was

* iemi s e n t

b y M m irai

Wa e s c h e

O jA -fytA SiJc

celebrate the 147th ass* birthday of the United States
Coast Guard, and it thus
tl
becomes my privilege again to send greetings and best
wishes to the officer
rs, men and civilian employees of the Service, and to
express to each of them my sincere appreciation for their devotion to duty,
which, in many cases, ha$# entailed personal sacrifices.
._

%

,crU_.

Tine
men who have g
I

\^rVTstJL

a.-‘y */
Fo r

Tuesday sard's'

r>

S ecreta ry Morgenthau and Rear Alm iral R ussell
R. Waesche, the Commandant, today dispatched messages o f
g re etin g s to the personnel of the United S ta te s Coast Guard
in honor o f the 147th an niversary o f the S ervice tomorrow.
With the messages to be read at shore
s ta tio n s and aboard f lo a t in g equipment, lo c a l observances
of the annual Coast Guard Day w i l l be held in a l l o f the
d iv is io n s and d i s t r i c t s o f the S e r v ic e .
Admiral Waesche w i l l be heard in an
o ra l g re e tin g both to h is o f fic e r s and men and to the general
p u b lic in a nationw ideprogram tgirm r i d
7:30 o ’ c lo c k , E .S .T .

tomorrow night at

The Coast Guard Academy Band from

New London, Conn., w i l l be in New York C ity to provide music
f o r the opening and c lo s in g o f the program, with the
Commandant speaking from Washington.
~'

The message o f

S e c re ta ry Morgenthau

to the Coast Guard personnel i s as fo llo w s :

TREASURY DEPARTMENT
Washington
EOR RELEASE, MORNING NEWSPAPERS
Tuesday. August 3. 1937.
8/2/37.

Press Service
No. 10-86

Secretary Morgenthau and Rear Admiral Russell R. Waesche,
the Commandant, today dispatched messages of greetings to the
personnel of the United States Coast Guard in honor of the
147th anniversary of the Service tomorrow.
With the messages to he read at shore stations and aboard
floating equipment, local observances of the annual Coast Guard
Day will be held in all of the divisions and districts of the
Service.
Admiral W?.crsche will be heard in an oral greeting both
to his officers and men and to the general public in a nation
wide radio program tomorrow night at 7:30 o ’clock, Eastern
Standard Time.

The Coast Guard Academy Band from New London,

Connecticut, will be in New York City to provide music for
the opening and closing of the program, with the Commandant
speaking from Washington.
The message of Secretary Morgenthau to the Coast Guard
personnel is as follows:
’’Upon the occasion of the 147th anniversary of the
Coast Guard ~ August 4, 1937 - the Service may justly reflect
with pride upon a long record of distinguished public service

* 2 -

in peace and in war - always marked by honor.
nThis splendid record has come into being by loyal
and devoted performance of duty, by unfailing adherence to
high standards, and by the determination of those who have
preceded you to have the Coast Guard worthy of the esteem
of the Nation,

Yours is new a high trust - that of

carrying on in the same traditional spirit and with the
urge to render greater public service to the credit of
your Corps.
,fIn extending my personal congratulations upon this
eventful occasion, I have the fullest confidence, from my
knowledge of your pride in the Coast Guard and its history
and of ycur resolve to do efficiently and creditably ycur
assigned tasks, that the future of ycur Service will be
worthy of the past.11
The following message was sent by Admiral Waesche:
f10n August 4 we celebrate the 147th birthday of the
United States Coast Guard, and it thus becomes my privilege
again to send greetings and best wishes tc the officers,
men and civilian employees of the Service, and tc express
tc each cf them my sincere appreciation for their devotion
to duty, which, in many cases, has entailed personal sacrifices

- 3 ~

’’The fine men who have gene before us, who were
always able to fulfill a mission - no matter what the
cost, have passed on to us the sacred and enviable
reputation of accomplishment we of the Service today enjoy,
and it is both proper and fitting that we, at this time,
pause to pay tribute to their memory.
”We are justly proud of these splendid records now
entrusted to our safekeeping, we are proud of cur record
cf today, and we proudly look forward to the future, and
to the part in the.maritime life of the Nation we may be
privileged to play.
"We are most grateful for cur many friends of the
other Services, as well as to these of civil pursuits, and
extend tc all a most cordial invitation to visit our ships
and stations, T/hich are open today for their inspection not only to make and tc renew acquaintances, but to gain
a broader knowledge of the aims and purposes cf the Coast
Guard. ”
The United States Coast Guard was called into being
in 1790 by the First Congress, under the designation of the
Revenue Marine.

The Continental Navy had been disbanded

after the end of the Revolutionary War, and for more than

- 4 -

six years after its fcunding the little Revenue fleet cf
ten vessels was the only armed force afloat to safeguard
the maritime interests" of the struggling young nation.

The

first commission granted to an officer of this organization,
in fact the first commission to any officer afloat, was signed
"by President Washington and tendered to Captain Hopley Yeatcn.
The original document is now preserved in the Library of
Congress, in Washington.
The Revenue Marine scon "became the United States
Revenue-Cutter Service, operating under the Treasury
Department, and began to acquire new duties under various
other Departments as its organization was built up.

Established

primarily for protecting the slender revenue of the young
republic by suppressing smuggling, more and mere duties
were assigned to it.

Prom a humble beginning, the floating

units of the Coast Guard, supplemented by the wings of
powerful amphibian planes, have been augmented and have
been developed into a complete coastal police force,
protecting the shores of the Atlantic, Pacific and Great
Lakes, the inland waterways, the waters of Alaska and our
insular possessions.
The Life-Saving Service was established under the
Treasurer ^Department in 1845 and gradually expanded until
it was operating a chain cf stations cn both coasts and on
the Great Lakes.

In 1915, for reasons of economy and

coordination, these two services were amalgamated.

They

became one symbol of service to the maritime people of this
country under the name of the United States Coast Guard.

TRSA6BBT DXPAJHSBSfT
WASHINOTOH
JrVil

Press Serrici

s lJltS iitu ni»mfjnRueJ&J1&p

^ •Id y« Auguet 3» 1957,
8/2/37

Aeting Seeretary of thè Treasury Taylor announeed last erenlng that thè
tendere for tm series et Treasury b ilie , te he date* Auguat 4, 1937, whioh «ere
offered oa July 30, «ere opened et thè federai B©serre banks oa Aagust 8»
fendere «ere lorlted for thè tee serie s te thè aggregate amount of
#100,000,000, or thereaboute, and #293,917,000 me applied fo r, of «hieh
#100,047,000 «ae eeeepted* The detalle of thè tue serles (eaoh for #90,000,000,
or thereaboute) are ae follares
is s - o ir TRiuggBY

Total appiiad for
Total aeeepted
Rango:
High
lev

Averege price

b il l s ,

Uàsmim t m w m m

17*

m t

#168,188,000
80,000,000
99*998
9
9
99.918

Squivalent

*
*

rate approxlaately 0*013 pereeet
8
9
9
0.869
*
*
•
0*828
•

Ut thè le« prioe of 99*899 oaly @7 percent of thè eaeaat bid for «ae eeeepted)
m m m : bills * matpbiho m t 4* i t p
Totel applied for
Total eeeepted
Badge:
High
le«

Avestge prlee

#133,799,000
90,047,000
99*874
99.839
99*848

Uquiralent rate approxlaately 0*430 pereeet
e
*
e
0*478
•

(At thè lev prie# of 99*439 «olir 83 percent of thè aaouat bid for «ae aeeepted)

TREASURY DEPARTMENT
■ Washington
FOR RELEASE, MORNING NEWSPAPERS,
Tuesday, •^ugast 3, 1937.
8/2/37
:
' 1 .........

Press Service
No. 10-87

A cting Secretary of the Treasury Taylor announced last evening that
the tenders for two series of Treasury hills, to he dated August 4, 1937,
which were offered on July 30, were opened at the Federal Reserve hanks on
August 2.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $298,917,000 was applied for, of which
$100,047,000 was accepted.

The details of the two series (each for $50,000,000

or thereahouts) are as follows:
135-DAY TREASURY BILLS* MATURING DECEMBER 17. 1937
Total applied for Total accepted
Range:
High
Low
Average price

$165,122,000
50,000,000

99,995
99 i899
99.915

Equivalent rate approximately 0.013 percent
11
11
M
0Ì269
»
»
i
11
0.228
"

(At the low price of 99.899 only 87 percent of the amount hid for was accepted
273-DAY TREASURY BILLS. MATURING MAY 4. 1938
Total applied for Total accepted
Range:
High
Low
Average price

—
-

$133,795,000
50,047,000
'
99.674
99i 639
99.646

Equivalent rate approximately 0,430 percent
f
»
»
0^476
w
n
n
11
0.467

(At the low price of 99.639 only 53 percent of the amount hid for was accepted'

INSOLVENT NATIONAL B A M S LIQUIDATED AND FINALLY CLOSED
OR RESTORED TO SOLVENCY DURING THE MONTH OF
_____________________ JULY, 1937_______________________

Date of
Failures

Jackson Nat*l Bank, Jackson, Minn* V
Citisene Nat*l Bank, Washington, Ga* l /
First Natfl Bank, Avon*»by*»the~Sea, N* x
First Nat'l Bank, Willoughby, Ctiio l /

l/

1/

11-16 -3 3
8-12-36
2-27-33
6-29-32

Total
Di ebursement s
Including
Offsets Alloweds

$

37,027.00
6,396.00
31,723.00
1,076,473.00

Per Cent
Total Disbursements
to Total
Liabilitiess

9 7.13
43.1(3
36.77
86.29

Reoelver appointed to levy and oolleot stock assessment covering
deficiency in value of assets sold, or to complete unfinished
liquidation*

Per Cent
Dividend
Declared
to All
Claimantss

49.8
14.7

36.8I
85.2628

Capital
Stock at
date of
Failures

$

80,000.00
75.000.
50.000. 00
100,000.00

00

insolvent national ranks liquidated and finally closed

OR RESTORED TO SOLVENCY DURING THE MONTH OF
_____ _______
JULY, 1937
_____

Date of
Failure :

ly

%
First
First
First
First
First

National
National
National
National
National

Bank*
Bank,
Bank,
Bank,
Bank,

6-29-31 •
- - i*
- - }.
12-12-33
- Í

Morrisonville, 111*
Millen, Georgia 2 j
Howell, Michigan 2/
Stone Lake, Wis. 2/
Sandersville, Ga*

Mills County Nat*l Bk«, Glenwood, rlowa
Citizens Nat*l Bank, West Alexander, Pa*
Citizens Natfl Bank, Prosperity, S* Car*
First National Bank, Fort Gaines, Ga*
Citizens National Bank, Brazil* Ind.
Jaokson, Miss*
Artesia, California
Fowler, Indiana
Rector, Arkansas
Steelville, Missouri

First
First
First
First
First

National
National
National
National
National

Bank,
Bank,
Bank,
Bank,
Bank,

First
First
First
First
First

National
National
National
National
National

Bank, Smithville, Texas
Bank in Fresno, Calif*
Bank, Manilla, Iowa
Bank, Woodstock, Minn*
Bank, Monroeton, Pa# 2 j

Rosedale Nat*l Bank, Rosedale, Ind# 2 /
Citizens Nat*l Bank, Jenkintown, Pa*

2j

Total
Disbursements
Including
Offsets Allowed:

626 3
6 18 31
3 14-29
12-27-32
7-16-3Ú
10-22-31
12-19-32
10-2-33

2-16-31
7-18-32
6-2-31
12-3-30
1-30-33
10-7-31
7-7-30
1-30-33
10-26-33
11-8-33
10-3-33
6-27-31

Per Cent
Total Disbursements
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants:

169,797.00
9Ú,885*00
539,176.00
6 o ,lil9 .o o
258,781*00
278,921**00
3ii7,061*00
206,398*00
103,712*00
506,051**00

1,956,281*00

37t,78 8 .oo

26l,2lí9*00
95,737.00
202,773*00
226,711,00
3,729,686.00
169,569*00
108,602*00
189,136.00
I6
6,lj26*00
232,891.00

2 / Formerly in Conservatorship*

Cash and
other Assets
returned to
Shareholders1
Agent:

t

;

$

Capital
Stock at
date of
Failure:

d u ll
1ÖU.5

50.7
1101)2
68.8

107*7

118.9
.

89.37
59.51

18.9

76*28
106.82
92.09
102*9
IOO.89
87.50
79.07

7k.ki

6U.9
106.77
09.
118.17
101*22
79.13

55.38
68.23

80*25
88.0U

37.92

12.23
75.25

97.16
92.29

95.918
90.7
*.

101*5
99.3

108.5
1}3.62

86.75
101
99.317
110.il.
I8.85

í\

50,000.00
25,000.00
100,000.00
25,000.00
50,000.00
65,000.00
25,000.00
50,000*00
50,000.00
100,000.00
200,000.00
50,000.00
75,000.00
25,000.00
25,000.00
50,000.00
1)00,000.00
25,000.00
25,000.00
25,000.00
25,000.00
150,000.00

$

-0
22,1*50*00
66,095*00
—0
—
-0
—0
—
-0
—0
—
38,516.00
—0
—
—0
—
-0
-0
«
—0
—
-0
-0
-0
-0
-0
-0
3,1)18.00
— —

0

- 7 FIRST NATIONAL BANK, AVON-BY-THE-SSA, NEW JERSEY
Depositors and creditors of record were paid in fall by assumption of
liabilities by another bank*

Receiver was appointed February 27, 1933, for

the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or completing unfinished liquidation*

Dividends to the

sole creditor {the assuming bank) amounted to 36.81 per cent principal.
Total disbursements under this receivership aggregated $31,723.00, represent
ing 36.y? per cent of total liabilities.
FIRST NATIONAL BANK, WILLOUGHBY, OHIO
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed Jhae 29, 1932, for the

purpose of collecting a stock assessment covering deficiency in value of
assets sold and/or completing unfinished liquidation.

Dividends to the sole

creditor (the assuming bank) amount to 85.2628 per cent principal.

Total

disbursements under this receivership aggregated $1,076,473.00, representing
86.29 per cent of total liabilities.

—

6

—

ROSEDALE NATIONAL BANK, ROSEDALS, INDIANA
This bank was formerly in conservatorship,
receivership October 3, 1933,

it was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the aim of $166,426.00, representing 108,5 per cent
of total liabilities*

unsecured depositors received 100 per cent principal

and an additional dividend of 10,4 per cent representing interest.

Stock

holders received cash and other assets of an estimated value of $3,418.00.
CITIZENS NATIONAL BANK, J1NKINT01N, PENNSYLVANIA
This bank was placed in receivership June 27, 1931.

Depositors and

other creditors received, including offsets allowed, $232,891.00, represent
ing 43,62 per cent of total liabilities.

Unsecured depositors received 18,85

per cent of their claims.
JACKSON NATIONAL BANK, JACKSON, MINNESOTA
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed November 16, 1933, for

the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or completing unfinished liquidation.

Dividends to the

sole creditor (the assuming bank) amounted to 49.8 per cent principal.
Total disbursements under this receivership aggregated $37,027.00, represent
ing 97.13 per cent of total liabilities.
CITIZENS NATIONAL BANK, WASHINGTON, GEORGIA
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed August 12, 1936, for

the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or completing unfinished liquidation.

Dividends to the

sole creditor (the assuming bank) amounted to 14.7 per cent principal,
Total disbursements under this receivership aggregated $6,396.00, represent
ing 43.43 per cent of total liabilities.

- 5 FIRST NATIONAL BANE, SMITHVILLE, TEXAS
This bank was placed In receivership October 7, 1931 •

Depositors and

other creditors received, including offsets allowed, #226,711*00, represent
ing 88*04 per cent of total liabilities*

Unsecured depositors received

86*75 per cent of their claims*
FIRST NATIONAL BANK IN FRESNO, CALIFORNIA
This bank was placed in receivership July 7, 1930*

Depositors and

other creditors received, including offsets allowed, #3,729,686*00, represent
ing 97*16 per cent of total liabilities*

Unsecured depositors received

95*918 per cent of their claims.
FIRST NATIONAL BANK, MANILLA, IOWA
This bank was placed in receivership January 30, 1933.

Depositors and

other creditors received, including offsets allowed, #169,569*00, represent
ing 92*29 per cent of total liabilities*

Unsecured depositors received 90.7

per cent of their claims.
FIRST NATIONAL BARK, WOODSTOCK, MINNESOTA
This bank was formerly in conservatorship.
receivership October 26, 1933*

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of #108,602.00, representing 101*5 per cent
of total liabilities*

unsecured depositors received 100 per cent principal

and an additional dividend of 4 per cent representing interest*
FIRST NATIONAL BANK, M0NR0ET0N, PENNSYLVANIA
This bank was formerly in conservatorship*
receivership November 8, 1933*

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, #189,136*00, representing 99*3 per cent of total
liabilities.

Unsecured depositors received 99*317 per cent of their claims.

- 4 of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 1.88 per cent representing interest.
FIRST NATIONAL BANK, JACKSON, MISSISSIPPI
This bank was placed in receivership February 16, 1931.

Depositors and

other creditors received, including offsets allowed, fl,956,281,00, represent
ing 87.50 per cent of total liabilities.

Unsecured depositors received 79.13

per cent of their claims.
FIRST NATIONAL BANK, ARTESIA, CALIFORNIA
This bank was placed in receivership July 18, 1932.

Depositors and

other creditors received, including offsets allowed, $374,788.00, represent
ing 79.07 per cent of total liabilities.

Unsecured depositors received 55.38

per cent of their claims.
FIRST NATIONAL BANK, FOWLER, INDIANA
This bank was placed in receivership June 2, 1931.

Depositors and

other creditors received, including offsets allowed, $261,249.00, represent
ing 74.47 per cent of total liabilities,

unsecured depositors received 68.23

per cent of their claims.
FIRST NATIONAL BANK, RECTOR, ARKANSAS
This bank was placed in receivership December 3, 1930.

Depositors and

other creditors received, including offsets allowed, $95,737.00, representing
37.92 per cent of total liabilities.

Unsecured depositors received 12.23 per

cent of their claims.
FIRST NATIONAL BANK, SFEELVIIXE, MISSOURI
This bank was placed in receivership January 30, 1933.

Depositors and

other creditors received, including offsets allowed, $202,773.00, represent
ing 80.25 per cent of total liabilities.
per cent of their claims

Unsecured depositors reoeived 75.25

MILLS COUNTY NATIONAL BANK, GLENWOOD, IOWA
This bank was placed in receivership December 27, 1932.

Depositors and

other creditors received, including offsets allowed, $278,924.00, represent
ing 76*28 per cent of total liabilities.

Unsecured depositors received 64.9

per cent of their claims.
CITIZENS NATIONAL BANK, WEST ALEXANDER, PENNSYLVANIA
This bank was formerly in conservatorship.
receivership July 16, 1934.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $347,061*00, representing 106*82 per cent
of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 6.77 per cent representing interest.
CITIZENS NATIONAL BANK, PROSPERITY, SOUTH CAROLINA
This bank was placed in receivership October 22, 1931.

Depositors and

other creditors received, including offsets alio wad, $206,398.00, represent
ing 92.09 per cent of total liabilities,

unsecured depositors received 89

per cent of their claims.
FIRST NATIONAL BANK, FORT GAINES, GEORGIA
This bank was placed in receivership December 19, 1932.

Depositors and

other creditors received, Including offsets allowed, $103,712*00, representing
102.9 per cent of total liabilities.

Unsecured depositors received 100 per

cent and an additional dividend of 18*17 per cent representing interest.
Stockholders received cash and other assets of an estimated value of $38,516.00
CITIZENS NATIONAL BANK, BRAZIL, INDIANA
This bank was formerly in conservatorship.
receivership October 2, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $506,054.00, representing 100.89 per cent

-

2

-

FIRST NATIONAL BANK, MILLEN, GEORGIA
This bank m s formerly in conservatorship.
receivership June 26, 1934.

It was finally placed in

Depositors and other creditors received,

including offsets allowed, $94,885*00, representing 104*5 per cent of
total liabilities*

Unsecured depositors received 100 per cent principal

and an additional dividend of 18*9 per cent representing interest*

Stock

holders received eash and other assets of an estimated value of $22,450*00.
FIRST NATIONAL BANK, HOWELL, MICHIGAN
This bank was formerly in conservatorship*
receivership JUne 18, 1934*

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $539,176*00, representing 107*7 per
cent of total liabilities*

Unsecured depositors received 100 per cent

principal and an additional dividend of 10*42 per cent representing interest.
Stockholders received eash and other assets of an estimated value of
$66,095,00.
FIRST NATIONAL BANK, STONE LAKE, WISCONSIN
This bank was formerly in conservatorship*
receivership December 12, 1933*

It was finally placed in

Depositors and other creditors received,

including offsets allowed, the sum of $60,419*00, representing 89*37 per
cent of total liabilities*

Unsecured depositors received 68*8 per cent of

their claims*
FIRST NATIONAL BANK, SANDERSVILL1, GEORGIA
This bank was placed in receivership March 14, 1929*

Depositors and

other creditors received, including offsets allowed, $258,781*00, represent
ing 59*51 per cent of total liabilities,
18*9 per cent of their claims*

unsecured depositors received

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS

11- V<H "3

3

J. F. T. O'Connor, Comptroller of the Currency, today announced the
completion of the liquidation of 86 receiverships during the month of July,
1937«

This makes a total of 735 receiverships finally closed or restored

to solvency since the Banking Holiday of March, 1933.

Total disbursements,

including offsets allowed, to depositors and other breditors of these 735
reoeiverships, exclusive of the 42 restored to solvency, aggregated
$249,982,631«00, or an average return of 79«11 per cent of total liabilities,
while unsecured creditors received dividends amounting to an average of 66.39
per cent of their claims«

Dividends distributed to creditors of all active

receiverships during the month of July, 193?, amounted to $6,339,402*00«
Total dividends paid and distributions to depositors of all receiverships
from March 16, 1933, to July 31, 1937, amounted to $869,226,221*00«

FIRST NATIONAL BANK, MORRISONVILLE, ILLINOIS
This bank was placed in receivership June 29, 1931«

Depositors and

other creditors received, including offsets allowed, the sum of $169,797.00,
representing 64«11 per cent of toted liabilities«
ceived 50.7 per cent of their claims«

Unsecured depositors re

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING- NEWSPAPERS,
Wednesday, Angust XI, 1937,
8/6/3?

Press Service
No. 10-88

J. E. T. O ’Connor, Comptroller of the Currency, today announced the
completion of the liquidation of 26 receiverships during the month of July,
1937.

This makes a total of 735 receiverships finally closed or restored

to solvency since the Banking Holiday of March, 1933.

Total disbursements,

including offsets allowed, to depositors and other creditors of these 735
receiverships, exclusive of the 42 restored to solvency, aggregated
$249,982,631.00, or an average return of 79*11 per cent of total liabilities,
while unsecured creditors received dividends amounting to an average of 66.39
per cent of their claims.

Dividends distributed to creditors of all active

receiverships during the month of July, 1937, amounted to $6,339,402.00.
Total dividends paid and distributions to depositors of all receiverships
from March 16, 1933, to July 31, 1937, amounted to $869,226,221.00«

EIRST NATIONAL BANK, MORRISONVILLE, ILLINOIS
This bank was placed in receivership June 29, 1931.

Depositors and

other creditors received, including offsets allowed, the sum of $169,797.00,
representing 64.11 per cent of total liabilities.
ceived 50.7 per cent of their claims.

Unsecured depositors re

- 2 *-

FIRST RATIONAL BANE, MILLEN, GEORGIA
This hank was formerly in conservatorship.
receivership June 26, 1934,

It was finally placed in

Depositors and other creditors received,

including offsets allowed, $94,885.00, representing 104.5 per cent of
total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 18.9 per cent representing interest.

Stock

holders received cash and other assets of an estimated value of $22,450.00.
FIRST NATIONAL BANK, HOTCELL, MICHIGAN
This bank was formerly in conservatorship.
receivership June 18, 1934.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $539,176.00, representing 107.7 per
cent of total liabilities.

Unsecured depositors received 100 per cent

principal and an additional dividend of 10.42 per cent representing interest.
Stockholders received cash and other assets of an estimated value of
$66,095.00.
FIRST NATIONAL BANK, STONE LAKE, WISCONSIN
This bank was formerly in conservatorship.
receivership December 12, 1933.

It was finally placed in

Depositors and other creditors received,

including offsets allowed, the sum of $60,419.00, representing 89.37 per
cent of total liabilities.

Unsecured depositors received 68.8 per cent of

their claims.
FIRST NATIONAL BANK, SANDERSVILLE, GEORGIA
This bank was placed in receivership-March 14, 1929.

Depositors and

other creditors received, including offsets allowed, $258,781.00, represent
ing 59.51 per cent of total liabilities.
18.9 per cent of their claims.

Unsecured depositors received

MILLS COUNTY NATIONAL BANK, GLENWOOD, IOWA
This "bank m s placed in receivership December 27, 1932.

Depositors and

other,creditors received, including offsets allowed, $278,924.00, represent
ing 76,28 per cent of total liabilities.

Unsecured depositors received 64.9

per cent of their claims.
CITIZENS NATIONAL BANK, WIST ALEXANDER, PENNSYLVANIA
This bank was formerly in conservatorship.
receivership July 16, 1934.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $347,061.00, representing 106.82 per cent
of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 6.77 per cent representing interest.
CITIZENS NATIONAL BANK, PROSPERITY, SOUTH CAROLINA
This bank was placed in receivership October 22, 1931.

Depositors and

other creditors received, including offsets allowed, $206,398.00, represent
ing 92.09 per cent of total liabilities.

Unsecured depositors received 89

per cent of their claims.
FIRST NATIONAL BANK, FORT GAINES, GEORGIA
This bank was placed in receivership December 19, 1932.

Depositors and

other creditors received, including offsets allowed, $103,712.00, representing
102.9 per cent of total liabilities. ' Unsecured depositors received 100 per
cent and an additional dividend of 18.17 per cent representing interest.
Stockholders received cash and other assets of an estimated value of $38,516.00
CITIZENS NATIONAL BANK, BRAZIL, INDIANA
This bank was formerly in conservatorship.
receivership October 2, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sun of $506,054.00, representing 100.89 per cent

4
of total liabilities*

Unsecured depositors received 100 per cent principal

and an additional dividend of 1*22 per cent representing interest,
FIRST NATIONAL BANK, JACKSON, MISSISSIPPI
This bank was placed in receivership February 16, 1931*

Depositors and

other creditors received, including offsets allowed, $1,956,281*00, represent
ing 87,50 per cent of total liabilities.

Unsecured depositors received 79.13

per cent of their claims,
FIRST NATIONAL BANK, ARTESIA, CALIFORNIA
This bank was placed in receivership July 18, 1932*

Depositors and

other creditors received, including offsets allowed, $374,788.00, represent
ing 79.07 per cent of total liabilities*

Unsecured depositors received 55.38

per cent of their claims.
FIRST NATIONAL BANK, FOWLER, INDIANA
This bank was placed in receivership June 2, 1931.

Depositors and

other creditors received, including offsets allowed, $261,249.00, represent
ing 74.47 per cent of total liabilities.

Unsecured depositors received 68.23

per cent of their claims.
FIRST NATIONAL BANK, RECTOR, ARKANSAS
This bank was placed in receivership December 3, 1930.

Depositors and

other creditors received, including offsets allowed, $95,737.00, representing
37.92 per cent of total liabilities.

Unsecured depositors received 12.23 per

cent of their claims.
FIRST NATIONAL BANK, STEELVILLE, MISSOURI
This bank was placed in receivership January 30, 1933.

Depositors and

other creditors received, including offsets allowed, $202,773.00, represent
ing 80.25 per cent of total liabilities.
per cent of their claims.

Unsecured depositors received 75.25

FIRST NATIONAL BANK, SMITHVILLE, TEXAS
This hank was placed in receivership October 7, 1931»

Depositors and

other creditors received, including offsets allowed, $226,711.00, represent
ing 88.04 per cent of total liabilities.

Unsecured depositors received

86.75 per cent of their claims.
FIRST NATIONAL BANK IN FRESNO, CALIFORNIA
This bank was placed in receivership July 7, 1930.

Depositors and

other creditors received, including offsets allowed, $3,729,686.00, represent
ing 97.16 per cent of total liabilities.

Unsecured depositors received

95.918 per cent of their claims.
FIRST NATIONAL BANK, MANILLA, IOWA
This bank was placed in receivership January 30, 1933.

Depositors and

other creditors received, including offsets allowed, $169,569.00, represent
ing 92.29 per cent of total liabilities.

Unsecured depositors received 90.7

per cent of their claims.
FIRST NATIONAL BANK, WOODSTOCK, MINNESOTA
This bank was formerly in conservatorship*
receivership October 26, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, the sum of $108,602.00, representing 101.5 per cent
of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 4 per cent representing interest.
FIRST NATIONAL BANK, M0NR0ET0N, PENNSYLVANIA
This bank was formerly in conservatorship.
receivership November 8, 1933.

It was finally placed in

Depositors and other creditors received, in

cluding offsets allowed, $189,136.00, representing 99.3 per cent of total
liabilities.

Unsecured depositors received 99.317 per cent of their claims.

«£$)

■>' '

■
■■

v

^

?

t

i "*

,

\

• *

^

_

■'

''

4

> > > 'y ^ r

■*

' * 1? * *’

i l

- 6 -

ROSEDALE NATIONAL BANK, ROSEDALE, INDIANA
This hank was formerly in conservatorship.
receivership October 3, 1933*

It was finally placed in

Depositors and .other creditors received, in

cluding offsets allowed, the sum of $166,426*00, representing 108.5 per cent
of total liabilities.

Unsecured depositors received 100 per cent principal

and an additional dividend of 10*4 per cent representing interest.

Stock

holders received cash and other assets of an estimated value of $3,418.00.
CITIZENS NATIONAL BANK, JENKINTOWN, PENNSYLVANIA
This bank was placed in receivership June 27, 1931.

Depositors and

other creditors received, including offsets allowed, $232,891.00, represent
ing 43.62 per cent of total liabilities.

Unsecured depositors received 18,85

per cent of their claims.
JACKSON NATIONAL BANK, JACKSON, MINNESOTA
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed November 16, 1933, for

the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or completing unfinished liquidation.

Dividends to the

sole creditor (the assuming bank) amounted to 49*8 per cent principal*
Total disbursements under this receivership aggregated $37,027.00, representm g 97.13 per cent of total lxabilxtxes,
CITIZENS NATIONAL BANK, WASHINGTON, GEORGIA
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed August 12, 1936, for

the purpose of collecting a stock assessment covering deficiency in value

7

of assets sold and/or completing unfinished liquidation*

Dividends to the

sole creditor (the assuming bank) amounted to 14*7 per cent principal#
Total disbursements under this receivership aggregated $6,396*00, represent
ing 43.43 per cent of total liabilities.
FIRST NATIONAL BAM , AVON-BY-TIIE-SEA, NEW JERSEY
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed February 27, 1933, for

the purpose of collecting a stock assessment covering deficiency in value
of assets sold and/or completing unfinished liquidation.

Dividends to the

sole creditor (the assuming bank) amounted to 36*81 per cent principal.
Total disbursements under this receivership aggregated $31,723.00, represent
ing 36.77 per cent of total liabilities.
FIRST NATIONAL B A M , WILLOUGHBY, OHIO
Depositors and creditors of record were paid in full by assumption of
liabilities by another bank.

Receiver was appointed June 29, 1932, for the

purpose of collecting a stock assessment covering deficiency in value of
assets sold and/or completing unfinished liquidation.

Dividends to the sole

creditor (the assuming bank) amount to 85.2628 per cent principal.

Total

disbursements under this receivership aggregated $1,076,473.00, representing
86.29 per cent of total liabilities.

INSOLVENT NATIONAL 'BANKS LIQUIDATED AND -FINALLY CLOSED
OR RESTOREDTÜ SOLVENCY DURING THE MONTH OF
_____________________JULY, 1QT7_______________________

• '• •' • -:.v

. . lg „•

Date of
Failure:
First
First
First
First
First

National
National
National
National
National

Bank,
Bank,
Bank,
Bank,
Bank,

6- 2 9 -31
6- 26- 3 U
6-IS-3 I4.
12 - 1 2 -3 3
3-1 ^ 2 9

Morrisonville, 111.
Millen, Georgia 2/
Howell, Michigan 2/
Stone Lake, Wis. 2/
Sandersville, Ga.

Total
Disbursements
Including
Offsets Allowed:
$

Per Gent
Total Dis
bursements
to Total
Liabilities:

Per Cent
Dividend
Declared
to All
Claimants;

16 9 ,7 9 7 .0 0
9U,885 .Q0
539,176.00
60 ,^1 9 .0 0
258 ,7 8 1 .0 0

6 ^ .1 1
1 0 ^ .5
107.7
29.37
59.51

5 0 .7
118.9
1 1 0 .^ 2
6 8 .8
1 8 .9

Mills County Nat’l.Bk. , Glenwood, Iowa
Citizens Nat VI- Bank, West Alexander, Pa. 2/
Citizens Nat’l Bank, Prosperity, S. Car.
First National Bank, Fort Gaines, Ga.
Citizens National Bank, Brazil, Ind, 2/

12 - 2 7 -3 2
7 -I 6- 3 U
10 - 2 2 -3 1
12 - 1 9 -3 2
10 - 2 -3 3

2 7 8 ,9 2^.00
3 ^7 ,0 6 1.0 0
206 ,3 9 8 .0 0
1 0 3 ,7 1 2 .0 0
506 ,0 5 ^ .0 6

7 6 .2 8
10 6 .8 2
92.09
10 2 .9
10 0 .S9

6 U .9
1 0 6 .7 7
89.
1 1 8 .1 7
1 0 1 .2 2

First
First
First
First
First

National
National
National
National
National

Bank,
Bank,
Bank,
Bank,
Bank,

2- 1 6 -3 1
7 - 1 8 -3 2
6- 2 -3 1
12 - 3 -3 0
1 -3 0 -3 3

1 ,956 ,2 8 1.0 0
3 7 ^,7 8 8 .0 0
2 6 1 ,2 ^9 .0 0
95,737.00
202 ,7 7 3 .0 0

2 7 .5 0
79.07
7 ^ 7
37.92
80 .2 5

79.13
5 5 .3 s

First
First
First
First
First

national
National
National
National
National

Bank, Smithville, Texas
Bank in Fresno, Calif.
Bank, Manilla, Iowa
Bank, Woodstock, Minn. 2/
Bank, Monroeton, Pa. 2/

10 - 7 - 3 1
7 - 7-30
1 - 3 0 -3 3
10 - 2 6 -33
1 1 - 8 -3 3

226 ,7 1 1 .0 0
3 ,7 2 9 ,686.00
16 9 ,569.00
10 8 ,602.00
1 8 9 ,1 3 6 .0 0

68 .OU
97.16
92.29
1 0 1 .5
99*3

86.75
95-918
90.7
10 U.

10 - 3 - 3 3
6- 2 7 -3 1

16 6 ,^26 .0 0
2 32 ,89 1.0 0

1 0 8 .5
U3 .6 2

1 1 0 .U
1 8 .8 5

Jackson, Miss.
Artesia, California
Fowler, Indiana
Rector, Arkansas
Steelville, Missouri

Rosedale Nat#l Bank, Rosedale, Ind. 2/
Citizens Nat!l Bank, Jenkintown, Pa.
2/

Formerly in Conservatorship.

6 8 .2 3
1 2 .2 3
75.25

99.317

Capital
Stock at
date of
Bailure:
$

5 0 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
1 0 0 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
6 5 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
1 0 0 ,0 0 0 .0 0
200 ,0 0 0 .0 0
5 0 ,0 0 0 .0 0
7 5 ,0 0 0 .0 0
2 5 ,0 0 0 .0 0
2 5 ,0 00 .0 0 '

Cash and
Other Assets
returned to
Shareholders1
Agent:
$

- 02 2 ,^50.00
66,095.00
- 0- 0- 0- 0- 0-

3 8 ,5 16 .0 0
- 0- 0- 0-*
- 0- 0- 0-

5 0 ,0 0 0.00
Uoo,0 0 0.00
2 5 ,0 0 0 .0 0
2 5 ,0 0 0.00
2 5 ,0 0 0 .0 0

—0*.
-0-0•-0-

2 5 ,0 0 0.00
15 0 ,0 0 0.00

3,^18.00
- 0-

INSOLVENT NATIONAL BANKS LIQUIDATED AND FINALLY CLOSED
OB EESTOPED TO SOLVENCY DUPING THE MONTH OF
_____________________JULY, 1937_______________________

Date ®f
Failure:

krj fxj

Jackson Natfl Bank, Jackson, Minn. iJ
Citizens Nat’l Bank, Washington, Ga. 1/
irst Nat!l Bank, Avon-by-the-Sea,
N. J. if
irst Nat’l Bank, Willoughby, Ohio if

if

11 - 1 6 -3 3
8-12-36
2-27-33
6-29-32

Total
Disbursements
Including
Offsets Allowed:

3 7 ,0 2 7 .0 0
6 ,39 6 .00
3 1 ,7 2 3 .0 0
lr076tU73.00
$

Per Cent
Total Dis
bursements
to Total
Liabilities:

9 7 .I3
U3 .U3
3 6 .7 7
86.29

Receiver appointed to levy and collect stock assessment covering
deficiency in value of assets sold, or to complete unfinished
liquidation.

(

Per Cent
Dividend
Declared
to All
Claimants:
U9 .8
1U.7
3 6 .SI
85 .262 S

Capital
Stock at
date of
Failure:
$

80,00.00
7 5 ,000.00
5 0 ,000.00
10 0 ,0 00.00

ÖIPOHYS or CATTLE WEIGHING fa© POUNDS OH MORE EMM
AND SOT SPECIALLY PROVIDED K R UNDER TRE QUOTA IB ©VISIONS
OF THE CANADIAN TRADE ACROTEBT
During the Period January 1 to Jt&y SI, 1037
(Preliminary Figure«)

TOTAL IMPORTS
Per Gent of Quota

i s s r
131,097

BY CUSTOMS DISTRICTS:

Proa Canada
Buffaio
Chicago
Dakota
Duluth and Superior
Main© and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total fresa Canada
Pro© Mexico
Arista
11 Paso
San Antonio
San Diego
Total from Mexico

33,813
1,345

7,150
376
49
73
78
9,319
43,646
3,923
2,196
644
393
943
388
6.673
109,919

6,467
10,193
4,374
2 f944
34,178

(Prepared fey Dirision ©f Statistics and Beseerch, Bureau of Customs)

16 -H

Commissioner of Customs today announced preliminary
figures for imports of c a m « weighing TOO pounds or m e

each

and not specially provided for* under the quota provisions of the
Canadian Trade Agreement* during the period January 1 to July 31*
1937* and the percentage that such import« hear to the total
allowable under the quota provisions* as follows:

0

August 7, 1957

MR. OASTOS
(Attention of Mr* Sehwara, S©c® 289, Ifreasury Building)
FROM MR. BENNER:
Shore is attached for iMaediate release a tabulation shoeing
preliminary figures for imports of cattle «sighing 700 pounds or
store each and sot specially provided for, under the quota provisions
of the Canadian tirade Agreement» ae of July 51, 1957*
Whan the release has been mimeographed, please have IBS copies

.—
forwarded to Mr* Freeman, Botm 415» Washington Bldg.

m 8/7/57

IMPORTS OF CATTLE WEIGHING TOO POUNDS OR MORE TCAftff
AND NOT SPECIALLY PROVIDED FOR UNDER THE QUOTA PROVISIONS
OF THE CANADIAN" TRADE AGREEMENT
During the Period January X to July 31, 1937
(Preliminary Figures)

TOTAL IMPORTS
Per Cent of Quota

(Head)
134,097
86.1 #

BY CUSTOMS DISTRICTS:
From Canada
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St* Lawrence
Vermont
Washington
Total from Canada

33,822
1,545
7,150
276
49
73
78
9,319
43,646
2,922
2,196
644
293
943
288
6,675
109,919

From Mexico
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

6,467
10,193
4,574
2,944
24,178

(Prepared by Division of Statistics and Research, Bureau of Customs)

Tkie Commissioner of Customs today announced preliminary
figurds for imports of cattle weighing 700 pounds or more each
and not specially provided for, under the quota provisions of the
Canadian Trade Agreement, during the period January 1 to July 31,
1937, and the percentage that such imports bear to the total
allowable under the quota provisions, as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

August 7, 1937

MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM MR. BENNER:
There is attached for immediate release a tabulation showing
preliminary figures for imports of cattle weighing 700 pounds or
more each and not specially provided for, under the quota provisions
of the Canadian Trade Agreement, as of July 31, 1937.
Ihen the release has been mimeographed, please have 125 copies
forwarded to Mr. Freeman, Room 415, Washington Bldg.

.IMPORTS OF CATTLE WEIGHING 700 POUNDS OR MORE EACH
AND NOT SPECIALLY PROVIDED FOR UNDER THE QUOTA PROVISIONS
OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to August 14, 1937
(Preliminary Figures)

TOTAL IMPORTS

(Head)
156,041

BY CUSTOMS DISTRICTS:
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

37,821
2,013
10,501
276
56
73
78
12,268
51,210
4,509
2,526
789
293
1,276
473
7,503
131,665

From Mexico
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

6,514
10,326
i4,592
2,944
24,376

(Prepared by Division of Statistics and Research, Bureau of Customs)

The Commissloner of Customs today announced that preliminary
reports from the Collectors of Customs show that the current quota
limiting the quantity of cattle weighing 700 pounds or more each
and not specially provided for which may be imported at the reduced
rate of duty under Schedule II of the Canadian Trade Agreement to
155,799 head during any calendar year, has been filled.
The following tabulation shows importations of this class of
cattle during the period January 1 to August 14, 1937, by Customs
districts:

OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta

August 20, 1937

MR« GASTON
(Attention of Mr* Schwarz, Room 289, Treasury Building)
FROM MR. BENNER:
There is attached for immediate release a tabulation showing
preliminary figures for importations of cattle weighing 700 pounds
or more each and not specially provided for, under the quota
provisions of the Canadian Trade Agreement, as of August 14, 1937,
which indicates that the quota on this class of cattle has been
filled for the current calendar year«
Ihen the release has been mimeographed, please have 125 copies
forwarded to Miss Henry, Room 415, Washington Building.

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, August 7, 1937.

Press Service
No. 10-89

The Commissioner of Customs today announced preliminary figures for imports
of cattle weighing 700 pounds or more each and not specially provided for, under
the quota provisions of the Canadaian Trade Agreement, during the period January
1 to July 31, 1937, and the percentage that such imports hear to the total
allowable under the quota provisions, as follows:
(Head)
TOTAL IMPORTS
Per Cent of Qpota

134,097;
86.1$
\, k

BY CUSTOMS DISTRICTS:
From Canada
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada

""

;A||ip
33,822
1,545
7,150
276
49
73
78
9,319
43,646
2,922
2,196
644
293
943
288
6,675
109,919

From Mexico
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

6,467
10,193
4,574
2,944
24,178

-oOo-

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Saturday, August 7, 1937.

Press Service
No. 10-89

The Commissioner of Customs today announced preliminary figures for imports
of cattle weighing 700 pounds or more each and not specially provided for, under
the quota provisions of the Canadaian Trade Agreement, during the period January
1 to July 31, 1937, and the percentage that such imports hear to the total
allowable under the quota provisions, as follows:
(Head)
TOTAL IMPORTS
Per Cent of Opota

134,097
86.1#
HHH

BY CUSTOMS DISTRICTS:
From Canada
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St- Lawrence
Vermont
Washington
Total from Canada-

33,822
1,545
7,150
27 G
49
73
78
9,319
43,646
2,922
2,196
644
293
943
288
6,675
109,919

From Mexico
Arizona
El'Paso
San Antonio
San Diego
Total from Mexico

6,467
10,193
4,574
2,944
24,178

-oOo-

t r k a su h t

dsparbìekt

lh«h ington
VOB RUBASI, M M I H O HBtSPAFBRS,
Ttt««d«y, Aagurt IO. 1937.
8/9/3»

Aotin* O w H g f
for tw>

n

H

m

'P r e s s Serri ce

ef thè Treasury Magill anaouneed lesi evening that thè tendere

of Treasury M I X., to be date« iagurt U , 1937, whioh m a

OH Auguet 6 , «ere opensa et thè Federai Heserre banke m

«ffam

Aagust 9.

Tendere «ere inrited for thè tee serie» t® thè aggregete aaount e t 1100,000,000,
or thereahoets, and #294,716,000 ve« applied for, ef «hi eh #100,140,000 was aeeepted,

The dotali» of thè tuo serie» Cesidi for #00,000,000, or thereabout») are »» foUowsi
189~I>A3f THKAHJRY BEIXS. MàTPRmS
Tetal applied fer <*
Total aeeepted
•
Rango:
High

*

iLow
,
Average prie»

*
«

18, jgg?

'

#148,448,000
80,086,00©

100
******
99.924

Sgpiraleat rate epprexhsately 0.229 percent
«
«
«
0#g2j.
»

(86 percent ef thè aaoixnt hid fer at thè le« prlee «a» aeeepted)
273-DaY THIASORT HELLS. MATOQ33S MAY 11. 1938
Total appliedfer »
Total aeeepted
*
leaget

#146,868,000
80,059,000

(exeeptlng ose hld ef #80,000}

I4W
Arerage prie#

*
*
.

******
99.625
99.638

(4 percent ef thè aaou&t hld

"X

SquiTalent rate apprextaatelp 0*430 pereant
s
e
«
0#4gg
#
«
»
e
0 .498
e

fer at

«he le« prlee m e aeeepted.)

TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Tuesday, August 10, 1957, _____
8/9/37.

Press Service
No. 10-90

Acting Secretary of the Treasuiy Magi 11 announced last evening that the
tenders

for two series of Treasury bills, to be dated August 11, 1937, which

were offered on August 6, were opened at the Federal Reserve banks on August 9.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $294,716,000 was applied for, of which
$100,143,000 was accepted.
or thereabouts)

Okie details of the two series (each for $50,000,000,

are as follows:
129-DAY TREASURY BILLS, MANURING DECEMBER 18,1937

Total appliedfor Total accepted
Range:
H igh.
Low
Average price

$148,448,000
50,086,000

100
-

99.918
99.924

Equivalent rate approximately 0.229 percent
»
«
«
0.211
»

(56 percent of the amount bid for at the low price was accepted)
273-DAY TREASURY BILLS, MATURING MAY 11, 1938
Total applied for Total accepted
-

$146,268,000
50,057,000

Range: (Excepting one bid of $50,000)
High
99.674
Equivalent rate approximately 0.430 percent
Low
99.625
«
11
B
0.495
”
Average price
99.638
H
H
11
0.478
n
(4 percent of the amount bid for at the low price was accepted)

-oOo-

IMPORTS OF CATTLE WEIGHING 700 FOUNDS OR MORE EACH
AND NOT SPECIALLY PROVIDED FOR UNDER THE QUOTA PROVISIONS
OF THE CANADIAN TRADE AGREEMENT
During the Period January 1 to August II, 1937
(Preliminary Figures)

TOTAL IMPORTS
Per Cent of ^uota
BY CUSTOMS DISTRICTS:
From Canada
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St* Lawrence
Vermont
Washington
Total from Canada
From Mexico
Arizona
El Paso
San ^ntonio
San Diego
Total from Mexico

(Head)
149,474

36,732
1,938
8,137
276
56
73
78
11,965
49,699
3,617
2,526
762
293
1,135
482
7,402
125,163

6,467
10,326
4,574
2|944
24,311

(Prepared by Division of Statistics and Research, Bureau of Customs)

Üie Commissioner of Customs today announced preliminary
figures for imports of cattle weighing 700 pounds or more each
and not specially provided for, under the quota provisions of the
Canadian Trade Agreement, during the period January 1 to August
11, 1937, and the percentage that such imports bear to the total
allowable tinder the quota provisions:

OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta

August 12, 1937.

MR. GASTON
(Attention of Mi*. Schwarz, Room 289, Treasury Building)
FROM MR. BENNER:
There is attached for immédiate release a tabulation showing
preliminary figures for imports of cattle weighing 700 pounds or
more each and not specially provided for, under the quota provisions
of the Canadian Trade Agreement, as of August 11, 1937.
When the release has been mimeographed, please have 125 copies
forwarded to Miss Henry, Room 415, Washington Building.

/
vIMPORTS OR CATTLE WEIGHING 700 POUNDS OR MORE EACH
/ AND NOT SPECIALLY PROVIDED FOR UNDER THE QUOTA PROVISIONS
I
OF THE CANADIAN TRADE AGREEMENT
\

During the Period January 1 to August 9, 1937
(Preliminary Figures)

.TOTAL IMPORTS
Per Cent of Quota
BY CUSTOMS DISTRICTS:
From Canada
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Montana and Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada
From Mexico
Arizona
El Paso
San Antonio
San Diego
Total from Mexico

.(Head)
145,670
93.5$

36,604
, 1,916
7,754
276
49
73
78
11,765
47,831
3,114
2,501
762
293
1,097
302
7f036
121,451

6,467
10,234
4,574
2|944
24,219

(Prepared by Division of Statistics and Research, Bureau of Customs)

[ a - °i I

The Commissioner of Customs today announced that, effective
August 12, 1937, the full rate of duty under paragraph 701 of the
Tariff Act of 1930ji will be collected on importations of cattle
weighing 700 pounds or more each and not specially provided f<
Upon determination of the particular importations of this class
of cattle which come within the quota limitât

itolieked unito»-.

ifflmi
gi— da" in^gflemeat » the collectors of customs will be
a_
T
authorized to make refund of duties deposited in excess of the
reduced rate provided for under Schedule II of the trade agreement.
The following tabulation shows importations of this class of
cattle during the period January 1 to August 9, 1937, and the
percentage that such imports bear to the total allowable under
the quota provisions:

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

August 10, 1937

MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM MR. BENNER:
There is attached for immediate release a tabulation show
ing preliminary figures for imports of cattle weighing 700
pounds or more each and not specially provided for, under the
quota provisions of the Canadian Trade Agreement, as of August
9, 1937i; also, notice of application of the full rate of duty
on this class of cattle effective August 12th.
When the release has been mimeographed, pleaisp have 125

V

copies forwarded to Mr. Freeman, Room 415, Washingtoir*Htdg
gtoÌTBldg

j

TREASURY DEPARTAIENT
Washington
POR IMMEDIATE RELEASE,
Tuesday, August 10, 1937.

Press Service
No. 10-91

The Commissioner of Customs today announced that, effective August 12, 1937,
the full rate of duty under paragraph 701 of the Tariff Act of 1930

will he col

lected on importations of cattle weighing 700 pounds or more each and not specially
provided for, under the quota provisions of the Canadian Trade Agreement,

Upon

determination of the particular importations of this class of cattle which come
within the quota limitation, the Oollectors of Customs will he authorized to make
refund of duties deposited in excess of the reduced rate provided for under
Schedule II of the trade agreement.
The following tabulation shows importations of this class of cattle during
the period January 1 to August 9, 1937, and the percentage that such imports hear
to the total allowable under the quota provisions:
(Head)
14R A7D
93.5$

TOTAL IMPORTS
Per Cent of Quota

A "i t-/ A w 1

BY CUSTOMS DISTRICTS:
From Canada
Buffalo
Chicago
Dakota
Duluth and Superior
Maine and New Hampshire
Maryland
Massachusetts
Michigan
Minnesota
Mbntana and Idaho
New York
Oregon
Philadelphia
St. Lawrence
Vermont
Washington
Total from Canada

36, 604
1,916
7,754
276
49
73
78
11,765
47,831
3,114
2,501
762
293
1,097
302
7,036
121,451

Prom Mexico
Ari zona
El Paso
San Antonio
San Diego
Total from Mexico

6,467
10,234
4,574
2,944
24,219
-oOo'

«

IMPORTS OF DOUGLAS FIR, WESTERN HEMLOCK AND RED CEDAR SHINGLES
UNDER THE QUOTA PROVISIONS OF THE CANADIAN TRADE AGREEMENT
(Preliminary Figures)

Customd District

TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Galveston
Hawaii
Los Angeles
Maine & N. H.
Massachusetts
Michigan
.New York
Philadelphia
St. Lawrence
San Francisco
Vermont
Washington

:
January 1 to July 31, 1937
: Sawed Timber & Lumber Not Specially Provided For
: Douglas
: Western
: Mixed Fir
Total Fir
:
Fir
: Hemlock
: & Hemlock
& Hemlock
: (Bd.Ft.) : (Bd.Ft.) : (Bd. Ft.)
(Bd. Ft.)
40,810,938

9,677,825

26,583,327

77,072,090
30.8$

17,158
369,212
5,690,666
3,723,406
597,434
2,164,274
71,485
3,645,504
7,406
12,313,181
3,700,681
56,442
662,025
7,792,064

93,574
884,913
921,152
616,405
4,399,719
95,542
2,084,886
654
580,980

50,008
—
756,271
25,777,048
-

17,158
512,794
6,575,579
4,644,558
—
597,434
3,536,950
71,485
8,045,223
102,948
38,090,229
5,785,567
56,442
654
662,025
8,373,044

•
:
;
;
;

July 1 to:
31, 1937!
Red Cedar
Shingles
(Squares!
144,409
.

2,866
57,243
11,408
6,384
1,000
-1
_
250
75
1,300
«
2,881 !
61,002 !

(Prepared by Division of Statistics and Research, Bureau of Customs)

[f■

The Commissioner of Customs today announced preliminary
figures for imports of Douglas fir, Western hemlock and red cedar
shingles, under the quota provisions of the Canadian Trade Agree
ment, as of July 31, 1937, and the percentage that imports of
Douglas fir and Western hemlock bear to the total allowable under
the quota provisions, as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

August 11, 1937

MR. GASTON
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM MR. BENNER:
There are attached for immediate release tabulations showing
imports of dairy cows* cream and certified seed potatoes and
imports of Douglas fir, Western hemlock and red cedar shingles,
under the quota provisions of the Canadian Trade Agreement, as
of July 31, 1937.
When the releases have been mimeographed, please have 125
copies of each forwarded to Mr. Freeman, Room 415, Washington
Building.

The Coirraissioner of Customs today announced preliminary
figures for imports of Douglas fir, Western hemlock and red cedar
shingles, under the quota provisions of the Canadian Trade Agree
ment, as of July 31, 1937, and the percentage that imports ct
Douglas fir and Western hemlock bear to the total allowable under
the quota provisions, as follows:

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
jgy^civ, Miw 14, 193.7m—

/

UO

Pre ss Service
No. iÖ-28. t O

Iß, * n
f 111

^

The.Commissioner of Customs' today announced preliminary figures for imports of
Douglas fir, Western hemlock and red cedar shingles, under the quota provisions of
for the period January 1
the Canadian Trade Agreement, /
to May 1, 1937, and the percentage that such
imports hear to the totals allowable under the quota provisions, as follows;

Customs District

TOTAL IMPORTS
Per Cent of Quota

Sawed Timber & Lumber NotSpecially Provided For
Douglas
Total Fir
Western
Mixed Fir
Fir
& Hemlock
& Hemlock
Hemlock
(m it.)
(Bd.Ft.)
(Bd.Ft.)
(Bd.Ft.)
23,598,083

3,809,891

5,278,906

32,686,880

IB, li

Red Cedar
Shingles
(Squares)
642,2Ì6*
61.3$

FROM CANADA
Alaska
Buffalo
Dakota
Duluth & Superior
Los Angeles
Maine & N.H.
Mas sachus e 11 s
Michigan
New York
Philadelphia
St. Lawrence
San Francisco
Vermont
Washington
Galveston
Hawaii

11,450
230,809
2,734,607
1,940,789
339.687
17.415
2,551.128
~ ~
«
10,975.126
54,642
-

—

_

_

mm

29,333
362,150
776,085
288,727

«*

2,245,214
48,360
^ «■ » - *
- -,
—

—

M

M

50,008
<n*

* .

•»
~

—

—

—

—

—

~

—

~

~

—

—

—

—

—

—

~

—

—

M

—

3,018,283
2,210,615
- ,

«.

~

—

-,

319 050
4,423,380
-

mm

_

------------------------- -------

11,450
310,150
3,096,757
2,716,874
628,414
17,415
4,796,342
48,360
13,993,409
2,210,615
54,642
~

—

—

~

gg

—

—

60,022
* * > *
m :■

_

—

~

—

-

-

-

~

319,050
4,483,402
—

------------------

—

—

—,

—

*1 V* *-----------------

32,114
262,393
43,254
1,138
—

—

—

1,750
593
6,650
---------- «

2,216
602
38,001
236,579
14,366
2,560

^Executive Order, dated March 13, 1937, limits importations of red cedar shingles
from Canada to 1,048 .,262 squares, during first six months of calendar year 1937*
ooOoo

TREASURY DEPARTMENT
Washington

FOR IMMEDIATE RELEASE,
Wednesday, Angust 11, 1937.

Press Service
No. 10-92

The Commissioner of Customs today announced preliminary figures for
imports of Douglas fir, Western hemlock and red cedar shingles, under the
quota provisions of the Canadian Trade Agreement, as of July 31, 1937, and
the percentage that imports of Douglas fir and Western hemlock hear to the
total allowable under the quota provisions, as follows:

Customs District

:
: Sawed Timber
: Douglas
:
:
Fir
:
: (Bd.Ft.)
:

TOTAL IMPORTS
40,810,938
Per Cent of Quota
FROM CANADA
Alaska
17,158
Buffalo
369,212
Dakota
5,690,666
Duluth & Superior 3,723,406
Galveston
Hawaii
597,434
Los Angeles
2,164,274
Maine & N. H,
71,485
Massachusetts
3,645,504
Michigan
7,406
New York
12,313,181
Philadelphia
3,700,681
St. Lawrence
56,442
—
San Francisco
Vermont
662,025
Washington
7,792,064

January 1 to
& Lumber Not
Western
:
Hemlock
:
(Bd.Ft.)
:

July 31, 1937
Specially Provided For:
Mixed Fir : Total Fir:
& Hemlock : & Hemlock:
(Bd.Ft.)
: (Bd.Ft.) :

9,677,825

26,583,327

93,574
884,913
921,152

50,008
-

-

~
—

616,405

756,271
—

-

4,399,719
95,542

-

25,777,048

-

2,084,886
654

■
—
—

580,980

oOo

17,158
512,794
6,575,579
4,644,558

-

—

~

77,072,090
30.8$

*~

.

—

597,434
3,536,950
71,485
8,045,223
102,948
38,090,229
5,785,567
56,442
654
662,025
8,373,044

July I to
31, 1937
Red Cedar
Shingles
(Squares)
144,409
-

-

2,866
57,243
11,408
6,384
1,000

m
—

250
75
1,300
«
—

2,881
61,002

w

CSRWgtÊD

Iosa or

yQŒkWES

TBOmsIQHS
w

of

SI, 1937

m
m
•
*

C u s t o m District

■V
f M a . 1,1936 to
•
January 1 to JUly SI, 1937 ’4 July a ,
19»
Ton
’
7 futro
#
S u m Af
wH TP
XzUua
1
B U S T 0013
.
*
j
/^
P
~
g
A
l
i
SEED POTATOES
t 700# CR MORE
-»#.
(Heed)
(POUB&S)
...i
.
J
r
.
.
. 1 .. Í8M U 1 ...
74,820
5.0Í

ÎOTiL IMPORTS
For Cent of quoto

3,476
17.*jt

FROM CAEâBâ
Alaska
Buffalo
Dakota
Duluth and Superior
Bovoli
Maine and B» S*
Maryland
Massachusetts
Michigan
:S»4
Hew York
Philadelphia
Rochester
St* Lawrence
Verront
Virginia
Wellington

ee
77
S3
3
Ó8
383
m
m
*■
53
so
»
384
1,745
•
885

74,333
as

5,068,395
342,360
3,631,331
1,487,110
sot
21,387,911
382,830
82,900
46,000
337,100
3,907,626
48.510

3,476

74,506

36,452,113

*

314

m

Total fro» Canada

?

21
i»
#»

2
aie
a*
•
'*? so
as
■SO

11

36,453, U S
¿1*04

•
36,450
1,710
*

2,000

FBOM OTHER COUNTRIES
Puerto Bieo

(Proi

*7

of Costano)

Custoasd District

TOTAL IMPORTS
Per Cent of Quota
m m CAHA04
Alaska
Buffalo
Dakota
Duluth k superior
Galveston
Hawaii
Los Angeles
Maine k N* H*
Massachusetts
Michigan
lew York
Philadelphia
St# Lawrence
San Francisco
Vermont
Washington

:
January 1 to July Si* 193?
I
: Sawed Timber A Lumber llot Specially Provided for s
t Douglas
i western
.
■:
Mixed Fir ? Total Fir s
s
Fir
: Hemlock
: & Hemlock : St Hemlock 5
.. • {Bd.Fi,} i &
£bi
i {Bd* n . ) 8
40,810*938

1?,158
369,212
3,690,666
3*723,406
«
597*434
2,164,274
71,485
3,645,504
7,406
12,313,181
3,700,681
56,442
cm

662,025
7,792,064

9,677,825

26,583,327

77,072,090
50*8$

ait

4M.

93,574
884,913
921,132

50,008

17,158
512,794
6,575,579
4,644,558

«

m
616,405
»
4,599,719
95,542
»

2,064,886
m

654
m

580,980

M

-

756,271
«
»

25,777,048
m

WM
4M
*>
*

'

»

597,434
3,536,950
71,435
8,045,223
102,948
38,090,229
5,786,567
56,442
654
662,025
8,373,044

July l to|
31. 1937 I
Med Cedar 1
Shingles 1
ÌSquares1
144,409 I

-

'

2,866 i
57,243
11,408 |
6,384 !

1,000
*

:

•

250
75 '
1,300
*
«

2,831
61,002

:

Th« Colmalesloner of Customs today announced preliminary
figures for imparts of dairy cove, cream and certified seed
potatoes, u n t o the quota prowlalone of the Canadian Trade Agree
ment, as of July 51, 1937, end the percentage that such Imports
bear to the totals allowable under the quota prowlsions, as
follows ;

August 11, 1937.

MR. GABION
(Attention of Mr. Schwarz, Room 289, Treasury Building)
FROM MR . BSXZNNR:
There are attached for iimaediate release tabulations showing
imports of dairy cows, cream and certified seed potatoes and
imports of Douglas fir

Western hemlock and red cedar shingles,

under the quota provisions of the Canadian Trade Agreement, as
of July 3 1 , 1937.
When the releases have been mimeographed, please ha
copies of each forwarded to Mr. Freeman, Room 415, Washington
Building#

■IMPORTATIONS OF DAIRY COWS, CREAM AMD CERTIFIED SEED POTATOES
UNDER THE QUOTA PROVISIONS OE THE CANADIAN TRADE AGREEMENT
Preliminary Figures as of July SI, 1937

Customs District

TOTAL IMPORTS
Per Cent of Quota
FROM CANADA
Alaska
Buffalo
Dakota
Duluth and Superior
Hawaii
Maine and N. H.
Maryland
Massachusetts
Michigan
Montana and Idaho
New York
Philadelphia
Rochester
St* Lawrence
Vermont
Virginia
Washington
Total from Canada

January 1 to July 31, 1937
DAIRY COWS
:
CREAM
700# OR MORE :
(Head)
;
(Gel.)
3,476
17.4$

74,830
5*0$

:
:
:
:
:

Dec* 1,1936 to
July 31, 1937
H H T E OR IRISH
SEED POTATOES
(Pounds)
36,452,113
81.0$

7
77
23
3
283
23
•
53

-

21
132

36,450
1,710
mm

«

2,000

2

5,068,395
242,360
3,631,221
1,487,110

—
«
_

—
«
«*

886

-

21,387,911
382,820
82,900
46,000
227,100
3,907,626
48,510

3,476

74,506

36,452,113

-

314

-

384
1,745
-

11
74,333

•

FROM OTHER COUNTRIES
Puerto Rico

(Prepared by Division of Statistics and Reséarch, Bureau of Customs)

The Commissioner of Customs today announced preliminary
figures for imparts of dairy cows, cream and certified seed
potatoes, under the quota provisions of the Canadian Trade Agree
ment, as of July 31, 1937, and the percentage that such imparts
bear to the totals allowable under the quota provisions, as
follows:

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Thursday, August 12, 1937.

Press Service
No. 10-93

The Commissioner of Customs today announced preliminary figures for
imports of daily cows, cream and certified seed potatoes, under the quota
provisions of the Canadian Trade Agreement, as of July 31, 1937, and the
percentage that such imports hear to the totals allowable under the quota
provisions, as follows:

Customs District

TOTAL IMPORTS
Per Cent of Quota
FROM CAMPA
Alaska
Buffalo
Dako ta
Duluth and Superior
Hawaii
Maine and N. H.
Maryland
Mas sachuset t s
Michigan
Montana and Idaho
New York
Philadelphia
Rochester
St. Lawrence
Vermont
Virginia
Washington
Total from Canada

January 1 to July 31, 1937
DAIRY COWS
700# OR MORE î
CREAM
(Head)
:
(Gal.)
3,476
17.4$

74,820
5.0$

77
23
3
283
~
23
53
384
1,745

7
21
132
y»
2
11
74,333
- .
74,506

885
3,476

FROM OTHER COUNTRIES
Puerto Rico

314

-oOo-

Dec. 1, 1936 to
July 31, 1937
WHITE OR IRISH
SEED POTATOES
(Pounds)
36,452,113
81.0$

—
36,450
1,710
2,000
5,068,395
242,360
3,631,221
1,487,110
21,287,911
382,820
82,900
46,000
227,100
3,907,626
48,510
36,452,113

- 2 Investments in United States Government obligations direct and fully
guaranteed were $8,219,195»000 in comparison with $8,165,225,000 on March 31,
1937, end $8,447,364,000 on June 30, 1936*

Investments in such obligations on

the date of the recent call comprised direct obligations of $ 6 ,902,521 ,000, ob
ligations of the Reconstruction Hnance Corporation of $153,189,000, federal
farm Mortgage Corporation bonds of $288,099,000, and Home Owners 1 Loan Corpora
tion bonds of $875,386,000.

Other bonds and securities held totaling $3,903,-

092,000, which included obligations of States, counties, and municipalities
aggregating $1,451,629,000, showed decreases in the three and twelve month
periods of $178 ,973,000 and $132 ,169 ,000, respectively«^
Balances with other banks and cash items in process of collection of
$7 ,933 ,2 7 1 ,000, including reserve with reserve banks, increased $ 139 ,165,000
since March and $83,539,000 since June last year.

Cash in vault of $444,598,-

000 decreased $38 ,912,000 and $87 ,096,000 in the three and twelve month periods,
respectively.
The book value of capital stock on June 30, 1937» amounted to $1,582,131,000
and represented a par value of $1,587,726,000.

The latter figure consisted of

Class A preferred stock of $281,012,000, Class B preferred stock of $17,965,000
and common stock of $1,288,749,000.

Surplus funds of $1,073,154,000, undivided

profits of $389,233 ,000, reserves for contix^encies of $155 ,623,000, and preferred
stock retirement fund of $12,024,000, making a total of $1,630,034,000, in
creased $18,703,000 since March and $155,681,000 since June a year ago.
Bills payable of $7,968,000 and rediscounts of $562,000, a total of
$8,530,000, showed a decrease of $3,737,000 since March but an increase of
$5 ,658,000 in the year.
The percentage of loans and discounts to total deposits on June 30 , 1937»
was 32.91 in comparison with 31*94 on March 31» 1937» and 29« 6l on June 30,

1936.
00O00

TREASURY DEPARTMENT
Washington
Press Service

yyw'$f/
POR RELEASE

/
fy
4

10

Comptroller of the Currency J.F.T. 0*Connor announced today that the total

deposits o f the 5>299 a ctiv e national hanks in the continental United States,
Alaska, Hawaii, and the Virgin Islands of the United States, on June 30, 1937»
the date of the last call made for statements of condition, aggregated $26 ,765 ,«
r
irWl
913 >000, exceeding hy $250,803,000J ^-nearly-l percent,1 the amount reported hy
the 5,311 active hanks on March yif 1937, the date of the previous call, and ex
ceeding hy $ 565^ 60,000^

than 2 percent^ the amount reported hy the

5,37*4- active hanks as of June 30, 1936, the date of the corresponding call a
year ago.
The deposits on June 30» 1937» which were exceeded in amount on only one
other call date in the history of the National Banking System, namely, December
31, 1936, when they aggregated $27,60S,397,000, consisted of demand and time de
posits of individuals, partnerships, and corporations of $12,*4-30,133,000 and
$7,^69,6*4-2,000, respectively; Uhited States Government deposits of $379>331>000;
State, county, and municipal deposits of $2,203,*4>66,000; postal savings of
$83,5**2,000; deposits of other hanks of $ 3 »790*5^7 >000; and certified and cash
iers 1 checks, cash letters of credit, and travelers* checks outstanding, etc.,
of $*4-03,962,000.

The time deposits of individuals, partnerships, and corpora^

tions included time certificates of deposit of $ 591 >^23 >000; time deposits, open
accounts of $305>7 15 >000; and deposits evidenced hy savings pass hooks of $6 ,511 ,-

352 ,000, the latter figure representing 15 >79**>219 accounts.
The net demand plus time deposits held were $23>099»79^>000, against which
reserves of $3,610,13*4-,000, or 15*63 percent, were required hy law to he carried
with reserve hanks.

The reserves held, however, were $*4-,163,789,000, or 13.03

percent, representing an excess of $ 553 ,655 ,000.
The total assets on June 30, 1937> were $30,337>071,000, an increase of
$287,399>000 since March and an increase of $ 63**-,232,000 in

-

Loans and discounts of $8,807,782,000 showed an increase of $338,578,OOOA
j a r ^ p e r c e n i ^ s i n c e the previous call on March 31 and an increase of $1,0*4-8,633,000, or 13.51 percent, since the June call of last year.

TREASURY DEPARTMENT
Washington

FOR RELEASE, MORNING NEWSPAPERS,
Saturday, August 14, 1937.______
8/12/37

Press Service
No, 10-94

Comptroller of the Currency J, E, T. O ’Connor announced today
that the total deposits of the 5,299 active national hanks in the
continental United States, Alaska, Hawaii, and the Virgin Islands of
the United States, on June 30, 1937, the date of the last call made
for statements of condition, aggregated $26,765,913,000, exceeding by
$250,803,000 the amount reported by the 5,311 active banks on March 31,
1937, the date of the previous call, and exceeding by $565,460,000 the
amount reported by the 5,374 active banks as of June 30, 1936, the date
of the corresponding call a year ago.
The deposits on June 30, 1937, which were exceeded in amount on
only one other call date in the history of the National Banking System,
namely, December.31, 1936, when they aggregated $27,608,397,000, con
sisted of demand and time deposits of individuals, partnerships, and
corporations of $12,430,183,000 and $7,469,842,000, respectively; United
States Government deposits of $379,331,000; State, county, and municipal
deposits of $2,203,466,000; postal savings of $88,542,000; deposits of
other banks of $3,790,587,000; and certified and cashiers* checks, cash
letters of credit, and travelers' checks outstanding, etc*, of $403,962,000*
The time deposits of individuals, partnerships, and corporations included
time certificates of deposit of $591,423,000; time deposits, open accounts
of $305,715,000; and deposits evidenced by savings pass books of
$6,511,352,000, the latter figure representing 15,794,219 accounts*

~ 2 ~

The net demand plus time deposits held were $23,099,794,000,
against which reserves of $3,610,134,000, or 15*63 percent, were re-*
quired by law to he carried with reserve hanks*

The reserves held,

however, were $4,163,789,000, or 18*03 percent, representing an excess
of $553,655,000.
The total assets on June 30, 1937, were $30,337,071,000, an
increase of $287,899,000 since March and an increase of $634,232,000
in the year*
Loans and discounts of $8,807,782,000 showed an increase of
$338,578,000 since the previous call on March 31 and an increase 9 f
$1,048,633,000, or 13.51 percent, since the June call of last year*
Investments in United States Government obligations direct and
fully guaranteed were $8,219,195,000 in comparison with $8,165,225,000
on March 31, 1937, and $8,447,364,000 on June 30, 1936*

Investments in

such obligations on the date of the recent call comprised direct
obligations of $6,902,521,000, obligations of the Reconstruction Finance
Corporation of $153,189,000, Federal Farm Mortgage Corporation bonds of
$288,099,000, and Home Owners* Loan Corporation bonds of $875,386,000.
Other bonds and securities held totaling $3,903,092,000, which included
obligations of States, counties, and municipalities aggregating
$1,451,629,000, showed decreases in the three and twelve month periods
of $178,973,000 and $132,169,000, respectively*
Balances with other banks and cash items in process of collection
of $7,933,271,000, including reserve with reserve banks, increased
$139,165,000 since March and $83,539,000 since June last year*

Cash in

vault of $444,598,000 decreased $38,912,000 and $87,096,000 in the three
and twelve month periods, respectively*

The book value of capital stock on June 30, 1937, amounted to
$1,582,131,000 and represented a par value of $1,587,726,000*

The

latter figure consisted of Class A preferred stock of $281,012,000*
Class B preferred stock of $17,965,000 and common stock of $1,288,749,000
Surplus funds of $1,073,154,000, undivided profits of $389,233,000,
reserves for contingencies of $155,623,000, and preferred stock retire
ment fund of $12,024,000, making a total of $1,630,034,000, increased
$18,703,000 since March and $155,681,000 since June a year ago*
Bills payable of $7,968,000 and rediscounts of $562,000, a total
of $8,530,000, showed a decrease of $3,737,000 since March but an,in
crease of $5,658,000 in the year*
The percentage of loans and discounts to total deposits on June 30
1937, was 32*91 in comparison with 31*94 on March 31, 1937, and 29.61 on
June 30, 1936*

ooOoo

( f i v e ) ---As an e x h ib itio n featu re of the meetup Agent
B a llin g e r
of

gave

the r e v o lv e r

o f m an-size.
the proper
crim in als

a demonstration of
, fir in g

the quio)B ruse

\

on '"OTVpHPMHW a

B a llin g e r and otheP"^officers

s ilh o u e tte
a ls o

methods o f^ srT sb n e rs rand of *8 1*d e v ic e s
*

in disarming o f f i c e r s of the law .

ta r g e t

demonstrated
used by

( fo u r ) - ---In the
tournament
892

three com petitive matches of the

Ecnols

out o f © p o ssib le

h i h - sn;.ym
900-----

295 in the team shoot

and

299

298 in the medal

shoot,

in the co n test to s e le c t the

Camp P erry team.
A cting S e c re ta ry

c a lle d

a tte n tio n

the use of

M agill con gratu lated the winners

t o th e im p o rtan ce o f p r o f i c i e n c y

firearm s

to come into co n tact

by
w ith

o f fic e r s of th e Treasury[ who

th e t r a i n i n g o f law enforcem ent

by exp erts o f the United S ta te s Coast G u a rd .

JP

yea^s com petition

have occasion

if^r thi e

M o rg e n th a u , th e T r e a s u r y i n s t i t u t e d
ts

,

law v io la t ors *.

.........unit------—

ofjfijjers

in

the

standard

was Used.

s e r v ic e

Ijf th is

*38 - c a l w « / revolve:?

k *
Harold

Morger thau, i s

the coordinator
,-----------0

tjahfc to

Secretary

a l l -----, enforcement
-------^

V Wli

agen cies
w

of the Treasury Department . Captain Harry M. "^ "h g le r, c h ie f
of the

iv is io n o f T rain in g, d ire c te d a c t i v i t i e s of the m eet.C. B
L is t e r , se c re ta ry of the N ational R ifle A s so c ia tio n ,

was judge;
Commander G.W* Stew art, of the Coast Guard, C ^ ief
ordnance
n
> fficer and ^unner C harles N. Hubbard, of the Coast Guardj,
c h ie f Irange o f f i c e r .

______ — ..... ...
(more) -o -

j

^g^a^wTliS^-'

tu

I1

f«LTZp^tx.
L*H« lo n e !© ,

San

« r y jig i» .

£98* Gold Medal

¿♦L# Meloehe, Fhoeniz, ^Inohol ftflt Unit, £97, Silver Medal*
K*A* Wilson, % n Franoieoo, ¿loobol ^az Unit £90, Silver Medi
F*D* Jamison, U#nver9 Bureau of the Mint Guard*9 £94,
Silver Medal#
&*0* f o r d ,

W ash ington * ®#®#f W h ite House F o l i o s , £ 9 4 ,

I

B ronze Medal#
?*M# Chapa& n,

f m & m $ W anh*,

B ureau o f C u e t e » ,

£94,

B ron ze M odal*
ä

*.W*

I
Q>ulok,

Sen J u a n ,

B ureau o f

O ustom a, £94* Bronze j » J

E*F# H a l l I o n , U a e h in g W a , ^ # C * , ’«feite B ouse F o l l o e ,

£92#

Bronze Madal /
L * J * M ay,

B a lt im o r e , « U t a » A le o h o l

ta n U n it , £91,

B ron ze Modal#
W*3«

m e d a l«

i1

F rey,

C h io a g o ,

B u reau o f S a r e o t i o e ,

£ 8 9 , B ronze

(more) -o -

m atch es i n s m a ll arms m arksm anship co n clu d e d
a t Camp

y e s te r d a y

Sim m s, D . C .
The w in n in g

r e g is te r e d

a

sco re

f i v e -man

of

1459

C to

team o f th e Customs

out qf a p o ssib le
i t t

"'^msmbers^

L .E .

El Paso;

A.w*

members,
A .L .

E ch ols, San Juan; E .L . B a llin g e r ,

Q,uick,

San Juan;

A»0. T oole,

Paso, and P.M*

the A lcohol

•‘•he second team
Tax U nit

and made a

L*J* Nay, zgt B altim ore;

score of

3,437* I ts

4MM6

Meloche, of Phoenix, A r i z .; K.A. W ilson, of San F ran cisco;

John A lle s , of San Francisco
Mich*,
^433

1500.

O

Chapman, o f Tacoma, % shrepresented

S e r v ic e

received

s i l v e r medals •

, represented

received

and

Charles

Lawyer, o f Grand ^spids,

The ^iiird

team^with a

score of

the White House P o lic e and i t s members

bronze m edals.

They

are

R .P . H a llio n , E arl

Reynolds, J .J . Cash, R.G. Ford and E .L . Warden, a l l of
Washington , D.C.
/?3 7 .

A newr fea tu re of th e ^ w a w ir
was a

match to s e le c t

N ational
P erry , Ohio,
from

the

a six-man team

Championship
.august

j

/Competition

th a t w i l l

rep resen t

firearm s tournament

at

Camp

22 to September 1 1 , when teams and individuals^

Army, Navy, Marine Corps, Coast Guard, N ational (MOR

fi

TREASURY DEPARTMENT
Washington
Press Service
i q -95

For Immediate Release
Thursday, Angust 12, 1937.

Acting Secretary of the Treasury Magill today presented the Secretary
Cup, a silver trophy, to the Bureau of Customs and gold, silver and Bronze
medals to individual competitors and members of leading teams in the
Treasury Department matches in small arms marksmanship concluded yesterday
at Camp Simms, D. C.
The winning five-man team of the Customs Service registered a score
of 1,459 out of a possible 1,500.

Gold medals were presented to its

members, L. E, Echols, San Juan; E. L. Ballinger, El Paso; A. W. Quick,
San Jyan; A. 0. Toole, El Paso, and P. M. Chapman, of Tacoma, Washington.
The second team represented the Alcohol Tax Unit and made a score of 1,437.
Its members, L. J. Nay, Baltimore; A. L. Meloche, of Phoenix, Arizona;
K. A. Wilson, of San Francisco; John Alles, of San Francisco and Charles
Lawyer, of Grand Rapids,; Michigan, received silver medals.

The third

team, with a score of 1,433, represented the White House Police and its
members received bronze medals.

They are R. P. Hallion, Earl Reynolds,

J. J. Cash, R. G. Ford and E. L. Warden, all of Washington, D. C.
A new feature of the 1937 competition was a match to select
a six-man team that will represent all Treasury law-enforcement agencies
at the National Championship firearms tournament at Camp Perry, Ohio,
August 22 to September 11, when teams and individuals from the Army,
Navy, Marine Corps, Coast Guard, National Guard, police departments and
other organizations will participate.

2

-

-

Forty-eight of the Treasury agents competed and the following high
marksmen were selected:

L. E* Echols, San Juan, P. R., Bureau of Customs;

E. L* Ballinger, El Paso, Texas, Bureau of Customs;
Ariz*, Alcohol Tax Unit;

A. L* Meloche, Phoenix,

A. W. Quick, San Juan, P. R*, Bureau of Customs;

R.. P. Hallion, Washington, D. C*, White House Police, and J, J. Cash,
Washington, D. C., White House Police*
In the individual medal matches the winners and their scores were
as follows:

L* E. Echols, San Juan, Bureau of Customs, 298, Gold Medal;

A* L* Meloche, Phoenix, Alcohol Tax Unit, 297, Silver Medal;
San Francisco, Alcohol Tax Unit, 295, Silver Medal;
Bureau of the Mint Guards, 294, Silver Medal;
White House Police, 294, Bi’onze Medal;
of Customs, 294, Bronze Medal;

K* A. Wilson,

J* D. Jamison, Denver,

R* G* Ford, Washington, D. C*,

P* M* Chapman, Tacoma, Wash*, Bureau

A* W* Quick, San Juan, Bureau of Customs, 294,

Bronze Medal; R* P, Hallion, Washington, D. C., White House Police, 292,
Bronze Medal;

L* J. Hay, Baltimore, Alcohol Tax Unit, 291, Bronze Medal;

W* E. Frey, Chicago, Bureau of Narcotics, 289, Bronze Medal*
In the three competitive matches of the two-day tournament Echols regis
tered 892 out of a possible 900 —

298 in the medal shoot, 295 in the team

shoot, and 299 in the contest to select the Camp Perry team.
Acting Secretary Magill congratulated the winners and called attention
to the importance of proficiency in the use of firearms by officers of the
Treasury Department who have occasion to come into contact with law violators*

-o0o<

January 1 to July 31,
REFINED
SUGAR
: COCONUT OIL
(Pounds)
:
(Pounds)

:
Customs District

TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Florida
Galveston
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
St. Louis
San Francisco
Virginia
Washington

^J\

189,071,763
42.2%

-

6,484,310
2,602,160
22,769,130
-

30,481,176
101,784,341
2,333,740
13,228
564,580
22,001,370
225
37,503

1937
: UNREFINED
:
SUGAR

î

:
:
:

(Pounds)

:

May 1 to
July 31, 1937
CORDAGE
(Pounds)

91,130,615
81.4%

1,180,009,163
65.8%

2,224,583
37.1%

30,516,124
17,345,952
3,634,133

m
9,186
69,720
70,170,054
11,190,008
308,752,189
381,399,947
265,795
376,415,802
■31,722,506

130,066
44,466
5,322
8,211
73,640
171,767
145,256
9,964
707,477
147,586
75,370
40,156
604,653
12,011
48,638

-

39,634,406

-

13,956

^(Prepared by Division of Statistics and Research, Bureau of Customs^)^

The Commissioner of Customs today announced preliminary
figures for imparts of commodities coming into the United States
from the Philippine Islands under the quota provisions of the
Philippine Independence Act, during the period January 1 to July
31, 1937, and under the Cordage Act of 1935, during the period
May 1 to July 31, 1937, also the percentage that such imports
bear to the totals allowable under the quotas, as follows:

OFFICE OF THE COMMISSIONER OF CUSTOMS
Sta

August 12, 1937

MR. GASTON
(Attention of Mr. Schwarz, Room 389, Treasury Bldg.)
FROM M R • BENNER*
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, as of July 31, 1937
When this tabulation has been mimeographed, please ha
copies forwarded to Mr. Freeman, Room 415, Washington Building.

_^

TREASURY DEPARTMENT
Washington
FOR IMMEDIATE RELEASE,
Friday, August 13, 1937,

Press Service
No. 10-96

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, dur
ing the period January 1 to July 31, 1937, and under the Cordage Act of
1935, during the period May 1 to July 31, 1937, also the percentage that
such imports hear to the totals allowable under the quotas, as follows:

Customs District

TOTAL IMPORTS
Per Cent of Quota
Chicago
Colorado
Florida
Galveston
Hawaii
Los Angeles
Maryland
Massachusetts
Minnesota
New Orleans
New York
Oregon
Philadelphia
Puerto Rico
St. Loui s
San Francisco
Virginia
Washington

January 1 to July 31,
REFINED
COCONUT OIL
SUGAR
(pounds)
(Pounds)
189,071,763
42,2$

91,130,615
81*4$

_

_

-

-

—

-

-

-

-

6,484,310
2,602,160
22,769,130
30,481,176
101,784,341
2,333,740
13,228
564,580
22,001,370
225
37,503

-

30,516,124
-

17,345,952
-

~
«
3,634,133
«
39,634,406

1937
: UNREFINED
:
SUGAR
:
(Pounds)

:
May 1 to
: July 31, 1937
:
CORDAGE
:
(Pounds)

1,180,009,163
65.8#

9,186
69,720
70,170,054
11,190,008
—

308,752,189
381,399,947
265,795
376,415,802
31,722,506
-

13,956

2,224,583
37.1#
130,066
44,466
5,322
8,211
73,640
171,767
—

145,256
9,964
707,477
147,586
—

75,370
40,156
604,653
12,011
48,638

this country to show a decrease in airplane passenger traffic from
abroad*

The 4,358 passengers arriving by plane during the past fiscal

je ar^ while only slightly smaller than in 1936/constituted a decrease
of 38*9 per cent from total in 1935 (6,498} and was less than half
the number so arriving during 1930.
The number of airplanes bringing passengers to this country from
abroad, aggregated 5,808 during the fiscal year 1937, as compared with
4,834 planes arriving during the fiscal year 1936, 6,708 in 1931, and 7,350
in 1930»

The number of passengers carried per plane has risen to a marked

degree during the past six years*

In 1930 less than three passengers per

plane were reported, while in 1937, the number of passengers averaged
almost seven per plane, an increase of more than 100 per cent.
*--Tho foil1mrjnc tnblnyprnnnntn s frtntnmnnt nif .the number of airplanes
and the number of passengers arriving by plane in <§ae]0Customa District
for each fiscal year from 1930 to 1937, inclusive^

■ U .

TREASURY DEPARTMENT
»Washington
Press Service
No, 10-97

The fiscal year 1937 witnessed further growth in airplane passenger
traffic between the United States and foreign coimtries7r38,753 passengers
A

arriving from abroad by air during the past year» an increase of 10»168
passengers» or 26,2 per cent over the total for the preceding fiscal year»
it was announced by the Bureau of Customs today.
Little change in th® number of passengers arriving in the United
States by air was recorded during the five year period from 1930 to 1934«
The pronounced upturn in 1935 was not continued in the following year,
but in 1937 the number of passengers arriving in this country by airplane
was almost double the average for the five year period from 1930 to 1934
(19,978).
Almost three-fifths of the passengers reported (59 per cent) arrived
in this country in the Florida Customs District, 22,861 passengers enter
ing

the country in Florida during the fiscal year 1937, as compared

with 16,608 in 1936«

Passengers arriving in districts adjacent to the

Canadian Border numbered 8,501 during the past fiscal year, an increase
of 65*7 per cent over the 5,131 reported during 1936.

Particularly note

worthy gains were recorded in the Washington, Dakota and New York Customs
Districts, the increases over 1936 amounting to 64.4, 81.2 and 56*9 per
cents, respectively.
Along the Mexican Border, on the other hand, fewer passengers ar
rived in the Uhited States by airplane during the fiscal year 1937 than
during any of the preceding seven years, this being the only section of

OFFICE OF THE COMMISSIONER OF CUSTOMS

Sta

AUG 1 i 1937

TO MR. GASTON

FROM THE ACTING COMMISSIONER OF CUSTOMS:
There is transmitted herewith a statement relative to
airplane traffic for the fiscal years 1930-1937, inclusive,
which may be suitable for use as a Treasury press release.

I n d o sure

TREASURY DEPARTMENT
Washington
FOR RELEASE, MORNING NEWSPAPERS
Monday, August 16, 1937,_______
8 /1 3 /3 7 .

Press Service
No. 10-97.

The fiscal year 1937 witnessed further growth in airplane passenger
traffic between the United States and foreign countries, with 38,753
passengers arriving from abroad by air during the past year, an increase
of 10,168 passengers, or 26.2 per cent, over the total for the preceding
fiscal year, it was announced by the Bureau of Customs today.
Little change in the number of passengers arriving in the United
States by air was recorded during the five-year period from 1930 "to
1934.

The pronounced upturn in 1935 was not continued in the following

year, but in 1937 the number of passengers arriving in this country
by airplane was almost double the average for the five-year period from
1930 to 1934 (19,978).
Almost three-fifths of the passengers reported (59 per cent) arrived
in this country in the Florida Customs District, 22,861 passengers enter
ing the country in Florida during the fiscal year 1937, as compared
with 16,608 in 1936.

Passengers arriving in districts adjacent to the

Canadian Border numbered 8,501 during the past fiscal year, an increase
of 65.7 per cent over the 5,131 reported during 1936.

Particularly

noteworthy gains were recorded in the Washington, Dakota and New York
Customs Districts, the increases over 1936 amounting to 64.4, 81.2 and
56.9 per cents, respectively.
Along the Mexican Border, on the other hand, fewer passengers
arrived in the United States by airplane during the fiscal year 1937
than during any of the preceding seven years, this being the only
section of this country to show a decrease in airplane passenger

~ 2 -

traffic from abroad,

The 4,358 passengers arriving "by plane during

the past fiscal year, while only slightly smaller than in 1936, con
stituted a decrease of 32*9 per cent from total in 1935 (6,492) and
was less than half the number so arriving during 1930.
The number of airplanes bringing passengers to this country from
abroad, aggregated 5,802 during the fiscal year 1937, as compared with
4,834 planes arriving during the fiscal year 1936, 6,708 in 1931, and
7,350 in 1930*

The number of passengers carried per plane has risen

to a marked degree during the past six years*

In 1930 less than ihree

passengers per plane were reported, while in 1937, the number of
passengers averaged almost seven per plane, an increase of more than
100 per cent*

fr

(Note to Correspondents -

The number of airplanes and the number of

passengers arriving by plane in any Customs District for each fiscal
year from 1930 to 1937, inclusive, may be obtained in Room 289.)

•oOo-

T REASURY D E P A R T M E N T
O F F IC E O F T H E S E C R E T A R Y

WASHINGTON

August 9, 1937

TO MR, GASTON :

During the month of July, 1937, the
following market transactions took place
in Government securities for investment
account :
Total purchases ......

$ 4,813,050

Total sales ..........

1,000

Net purchases • #•

$ 4,812,050 %r

TREASURY DEPARTMENT
Washington

EOR IMMEDIATE RELEASE
Monday, August 16, 1937.

Press Service
No. 10-98

Net market purchases of Government securities for Treasury in
vestment accounts for the calendar month of July, 1937, amounted to
$4,812,050,

Secretary Morgenthau announced today.

— 000—

THEASUHY DSPa HUMSKT
wmamtm

Prass Sarrias
‘" V i

Io

^

Acting Secretary of «io Treasury liegill announced last evening that
the tenders for too series of Treasury tills, to he dated August 18, Its?, which
were offered cm August 18, were opened at the foderai Reserre tanks on August Id«
Tenders were invited for the two series to the aggregate amount of
#100,000,000, or thereabouts, and #880,888,000 was applied for, of Hbish
#100,068,000 «es accepted. The details of the two serios Coash for #80,000,000,
or thereabouts) art as follows*
188-DAY TB&mmt BILLS, MkWWWQ DBCE&iBSK 18. 1957
Total applied for
Total accepted

#?9,818,000
80,018,000

Ranges
High
low
Average price

100*

98.895
99*927

Equivalent rate approximately 0*810 pereant
m m
m
0*818
•

(81 pereant of the amount bid Her at the low price was accepted)
273-DAY TREASURY B in s * MATPRBfO MAT 18. 1958
#180,646,000
80,048,000

Total applied for
Total accepted
Ranges

High
low
Average prise
prist

*

98*841
99*841
99*688

Equivalent rate approximately 0*810 percent
ÜBquivtlwa* «
«
0.478
#
m m
m
0*489
»

(95 parsosi of Hie amount bid for ç.t the low prise was accepted)

*

TREASURY DEPARTMENT
Washington
POR RELEASE, MORNING NEWSPAPERS,
Tuesday. August 17, 1957.______
8/16/37.

Press Service
No. 10-99

Acting Secretary of the Treasury Magill announced last evening that
the tenders for two series of Treasury "bills, to "be dated August 18, 1937,
which were offered on August 13, were opened at the Federal Reserve banks
on August 16.
Tenders were invited for the two series to the aggregate amount of
$100,000,000, or thereabouts, and $220,659,000 was applied for, of which
$100,066,000 was accepted.

The details of the two series (each for $50,000,000,

or thereabouts) are as follows!
122-DAY TREASURY BILLS. MATURING DECEMBER 18. 1937
Total applied for Total accepted
Range :
High
Low
Average price

$79,813,000
50,018,000

100 .
~
-

99.895
99.927

Equivalent rate approximately 0.310 percent
*
»
"
0.216
,f

(31 percent of the amount bid for at. the low price was accepted)
273-DAY TREASURY BILLS. MATURING MAY 18. 1938
Total applied for Total accepted
Range:
High
Low
Average price

$140,846,000
50,048,000

99.841
99.641
99,652

Equivalent rate approximately 0,210 percent
»
«
«
0.473
»
■»
»
0.459
H

(93 percent of the amount bid for at the low price was accepted)

-oOo-
Full text of Press Releases of the United States Department of the Treasury : Volume 20

FRASER
