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This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
To the Stockholders of the
Federal Reserve Bank of Dallas :
We are pleased to present herewith a comparative statement
of the condition of the Federal Reserve Bank of Dallas, including
its Branches, as at close of business December 31, 1920, together
with statistical data showing the principal operations of the bank
for the twelve-month period ending on that date.
COMPARATIVE
Resources:
STATEMENT CONDITION FEDERAL RESERVE
DALLAS, INCLUDING ITS BRANCHES
BANK
OF
Dec. 31st, 1920
Dec. 31st, 1919
Bills discounted for member banks---------------------------------------------------------------- $ 97,391,221.96
Bills discounted for other F. R. Banks---------------------------------------------------------- ················-------···
246,672.55
Bills bought in open market---------------------------------------------- -------------------------------11,032,400.00
U. S. Bonds and Treasury Certificates to secure circulation -------------------·
1,246,850.00
Other U. S. Bonds and Treasury Notes----·-----·-----------.. ------·--·----·----------------·
1,638,535.93
Bank premises ......................................................................------ ---------·-------------4,169,481.50
Cash and due from banks (not reserve) ...... ·---·-----------·-------·----·-.. ·-·--·-------..
1,643,800.00
Federal Reserve Bank Notes on hand·- --·-·---------------·-·----------------------------------Federal Reserve Notes on hand ...... _________________ _____ ____ .. _______________ , ___________ ______
5,300,700.00
Balance in Gold Settlement Fund...................................____ ______ ________ __ ____ ______ _
2,07 4,262. 77
Gold with Agent ................................................................................................
28,914,857.40
5% Fund against Federal Reserve Bank notes ............ ___ __ _______ .... ___ _______ _____ _
586,200.00
Gold and lawful money on hand....................................... __ ___ _____ __ ____ _____ _________ _
14,462,941.21
Gold with foreign agencies ................... ___ ________ ,, __________ .. __________ ______ ______ ____ _____ _
85,800.00
Checks and drafts in process of collection_ ______ _______ , ___ _............. _________ ___ ______ _
31,081,824.12
646,000.43
Exchange for Clearing House ··------.. ··-·---------------.. ·- ----.. ----------------· ...............
Transfers bought ................................................................................................
7,065,556.68
Interest accrued on U. S. Securities..............................__ ____ ________ ____ ______ _______ _
106,024.88
War Loan Expenses (collectible) .................................................... ............. .
23,657.88
Due from other F. R. Banks ........................................._. ___ ____________ ___ __________ _ ----·---------------·-··-Other resources ..................................................................................................
587,651.29
$ 35,870,918.95
22,445,000.00
6,4.20,648.92
11,032,400.00
1,998,600.00
399,398.65
2,515,386.00
511,050.00
3,713,740.00
17,073,569.26
27,544,580.00
558,200.00
11,378,603.40
3,414,325.49
35,071,501.62
789,288.35
8,515,395.13
112,152.07
213,594.00
4,222,390.29
179,617.02
Total ..............·-····----·------------ ----------···----·-----·-·-----.. --------·---··- ---------·-·-·-------··-· $208,304,438.60
$193,980,359.15
Liabilities:
Capital Stock ................... ---------··-------------·----··-----.. ·----·--------------------------· .. ·-····--- $ 4,098,550.00
6,032,744.30
Surplus ..........·---·------------··----------·------------------·--------·-----------.- -·-··-.. ·····--·-··-·----.. ···-··
84,753,545.00
Federal Reserve Notes issued ........... ·-·--------- ------------------·--------------------.......... ..
46,994,823.71
Reserve deposits (member banks) --------·-----·-·-·-·----------·---·---·------------·----------1,660,176.64
U. S. Government deposits ·-·----·------- --·-·-···----··-..--------····----··-·-·····-··-·----··-----Reserve for tax on circulation. ................... ____________________ ___ ____ __ ___ ................... .
22,248.38
28,235,534.27
Checks and drafts in process of collection .. ------··----·---·-·---····------·--- ----------··-·
Federal Reserve Bank Notes (secured by U. S. Bonds and Treasury
Certificates ......... ,__ ____ ______ ___ ___ __ , ........ ------------·-------·-·-----------------··· .. ·---8,744,800.00
240,662.50
Reserve for depreciation ......... -----···-··-··-·-·----·-----··----·---·.. ·---·- -·-·-···-·---------------Foreign government credits -------··-·· ------·-------------------.. ·--·-------- -----·------------ -----· ·····--·----·······-······
104,000.00
Foreign banks ........................ ----·-··-·-----·----···---··-·-··-·---------··-------- -------------------·---Rediscounts with other F. R. Banks __________ _____ ........... ·-··-···-·--------------·----------26,694,600.00
722,753.80
All other liabilities .............. ----------------··-·------------------------.. ·-------.. ··-------------·-··---
$ 3,420,700.00
3,029,937.23
78,644,065.00
63,371,988.44
2,900,346.93
19,481.36
29,179,103.72
Total .. ------ --.. ---- -----------------·----------------··--- -·---.. ····----·---.. ··------------------ ------··--·· .. $208,304,438.60
$193,980,359.15
10,972,400.00
240,662.50
1,879,645.46
·············-------------
----------------········-322,028.51
..
COMPARATIVE STATEMENT OF EARNINGS AND EXPENSES OF BANK
(Including Branches) for Years 1920 and 1919.
Earnings:
1920
1919
Bills Discounted Members including those acquired from other F. R. Banks .. $4,044,612.34
Bills bought in open market, including those acquired from other F. R. Banks
73,211.72
United States Securities ..........................................................................................
270,874.35
Transfers-Net earnings ..........................................................................................
350,968.48
Deficient Reserve Penalties ......................................................................................
158,569.01
Sundry Profits .................................................................... .......................................
6,286.03
$2,443,805.63
113,396.94
229,080.04
193,661.44
81,984.32
322.47
Total ....... -............................................................................................................. $4,904,521.93
$3,062,250.84
Expenses:
Assessment Account Expenses F. R. Board........................................................ .. $ 21,694.53
Federal Advisory Council ....................................................................................... .
399.62
Governor's Conferences .......................................................................................... ..
651.23
Federal Reserve Agent's Conferences................................................................... .
64.08
Salaries: Bank Officers ................................................... - ...................................... .
117,768.48
649,100.42
Clerical Staff ........................................................................................... .
Special Officers and Watchmen........................................................... .
20,177.14
All Others ................................................................................................. .
39,455.89
Life Insurance Premiums ..........................................................................................
6,395.36
Directors' remunerative expense ........................................................................... .
6,529.58
Officers' & Clerks' Travelling Expenses............................................................ ..
30,850.70
Legal Fees ................................................................................................................. .
2,621.70
Rent ............................................................................................................................ ..
14,904.33
Taxes & Fire Insurance ........................................................................................... .
3,476.08
Telephone ..................................................................................................................... .
3,937.92
Telegraph ................................................................................................................... .
56,900.49
Postage ......................................................................................................................... .
65,506.99
Expressage ................................................................................................................. .
48,487.96
Insurance & Premiums on Fidelity Bonds .......................................................... ..
24,671.51
Light, Heat & Power ............................................................................................... .
6,895.92
Printing & Stationery ............................................................................................. .
67,998.00
Repairs & Alterations ............................................................................................. .
13,797.21
All other not specified ............................................................................................. .
78,080.07
Cost of F. R. Currency issued ................................................................................ ..
155,735.64
Equipment ................................................................................................................... .
82,882.95
Cost on Currency Shipment to and from Members and Non-Members ......... .
30,863.06
Total ..................................................................................................................... . $1,549,846.86
$
20,362.04
991.64
788.52
109.44
87,212.00
390,992.87
6,362,58
11,883.44
··················-···
4,446.72
14,577.96
.2,400.00
5,525.66
1,745.73
3,188.78
21,772.00
39,882.62
25,556.30
13,308.24
3,365.04
41,008.79
13,193.79
41,348.56
136,575.81
70,717.85
25,519.46
$ 982,835.83
DISPOSITION OF INCOME
Calendar Year 1920
.!
Income:
Discount on bills discounted-----------------------------------------------------------------------------Discount on bills purchased-----------------------------------------------------------------------------Transfers boug.ht and sold-net charges.------------------------------------------------------Penalties on deficient reserves-----------------------------------------------------------------------Interest earned on U. S. Securities------- --------------------------------------------------------Miscellaneous profits ------------------·--·-------··························----------------------------·----
$4,044,612.34
73,211.72
350,968.48
158,569.01
270,874.35
6,286.03
Total Income ·---·-- ······-----··-----·--··-- ·----·-·-----·-·---------·------------·---··------·--·--------
$4,904,521.93
Less:
Expense current ---·-·····------·-----------------------·------·-----··---------- --·--------------------------- $1,549,846.86
105,980.14
Dividends paid June 30th---------------------·------··--------···----------------- ------·-----·----------·
119,107.91
Dividends paid December 31st.·----------------------------------------------------------------------335.84
lnterest paid on surrendered stock------------- ----------------------------------------------------130,962.71
Reserved for depreciation and contingencies------ ---------------------------------------11,648.41
Other miscellaneous losses ---------·- ------·------------------------------ -----------------------------$1,917,881.87
Net Profits Calendar Year 1920---------------- --------------------- -----------·-·---------
$2,986,640.06
Plus:
Reserve set aside in December, 1919, for expense F. R. Board first
half 1920, returned to Profit & Loss account in 1920.·----------------------
$
16,167,01
$3,002,807.07
Disposition of accumulated Net Profits:
Transferred to Surplus June 30th-------------------------------------------------------------------Transferred to Surplus December 31st.... --------------- -- -------------------------------------
$1,122,333.60
1,880,473.47
Total --------------- -----------------------------------------------------------------------------------------------
$3,002,807.07
LOAN AND DISCOUNT OPERATIONS
1919
1920
.I
Rediscounts for Member Banks................................................................ . $1,280,678,880.00
7,811,192.00
Acceptances purchased ·································-···········································
622,085.00
Acceptances rediscounted for or acquired from othe:t F. R. Banks..
143,000.000.00
Other paper rediscounted for other Federal Reserve Banks ............. .
$1,224,946,144.78
12,415,232.70
10,077,783.41
57,000,000,00
Total ....................................................................................................... $1,432,112,157.00
$1,304,939,160.89
Total number of banks served..................................................................
Largest note rediscounted.......................................................................... $
Smallest note rediscounted ....................................................................... .
Total number of rediscounts..................................................................... .
702
6,134,000.00
10.50
104,259
607
$
4,000,000.00
10.25
73,74.2
Rediscounts distributed 1b y states:
1920
1919
Texas ...................................................................................................... $1,201,983,272.00
27,346,134.00
Oklahoma ................................................................................................
25,885,848.00
Louisiana ·················- ·············································································
17,019,828.00
New Mexico ·············-···········································································
8,443,798.00
Arizona ···- ·····························································································
$1,145,225,618.79
22,032,354.68
34,806,280.44
17,511,220.87
5,370,670.00
Total ................................................................................................ $1,280,678,880.00
$1,224,946,144.78
MATURITIES
Classification by maturities of all paper rediscounted and purchased:
1920
Due
Due
Due
Due
Due
1919
within 15 days..................................................................................... $1,004,814,768.00
within 30 days ......................................................................................
171,283,194.00
within 60 days ..................................................................................... .
90,537,179.00
within 90 days ..................................................................................... .
120,214,022.00
after 90 days ..........................................................................................
45,262,994.00
$ 994,562,113.61
189,940,758.75
41,181,740.68
52,189,929.85
27,064,618.00
Total ........................................................................................................ $1,432,112,157.00
$1,304,939,160.89
CURRENCY SHIPMENTS
Intra-District Movement of Currency
1920
I
1919
Shipped to Member Banks................................................................................ $120,950,817.89
Shipped to Non-Member Banks........................................;. ...............................
5,790,429.00
$ 90,265,516.00
4,545,903.00
Total shipped ............................................................................................. . $126,7 41,246.89
$ 94,811.419.00
Received from Member Banks........................................................................ $152,696,706.62
Received from Non-Member Banks ................................ ............................... .
6,684,812.28
$ 72,517,591.00
3,211,249.00
Total Received ........................................................................................... . $159,381,518.90
$ 75,728,840.00
Total Received and Shipped ............................................................................. . $286,122,765.79
$170,540,259.00
OPERATIONS OF CHECK CLEARING AND COLLECTION DEPARTMENT
(Including Branches)
Number and Amount of Items Handled During the Years 1920, 1919, 1918.
1920
Number
Jan.
1 to Jan. 15 .......... ·-··································· 1,048,804
Jan. 16 to Feb. 15................................................ 2,273,250
1918
1919
Number
Amount
Number
329,683,000
366,810
148,465,000
210,342
112,730,000
696,538,000
842,998
297,204,000
391,070
205,660,000
Amount
Amount
Feb. 16 to Mar. 15................................................ 2,305,575
738,284,000
837,782
261,966,000
374,456
187,823,000
Mar. 16 to Apr. 15................................................ 2,312,871
631,143,000
968,607
308,133,000
465,352
207,395,000
Apr. 16 to May 15................................................ 2,250,278
549,966.000
891,286
327,488,000
395,777
181,960,000
May 16 to June 15................................................ 2,321,423
533,994,000
837,246
342,675,000
422,527
191,250,000
June 16 to July 15................................................ 2,261,629
494,151,000
839,621
320,624,000
558,084
192,370,000
July 16 to Aug. 15................................................ 2,257,317
490,131,000
944,143
338,427,000
583,340
203,172,000
Aug. 16 to Sept. 15..................... ·-························ 2,269,617
514,815,000
929,578
- 369,124,000
608,916
227,721,000
Sept. 16 to Oct. 15................................................ 2,481,849
288,898,000
664,420,000
1,195,676
376,001,000
707,227
Oct. 16 to Nov. 15................................................ 2,590,497
632,340,000
1,737,492
652,375,000
768,070
316,114,000
Nov. 16 to Dec. 15................................................ 2,534,020
537,801,000
1,917,493
602,815,000
755,916
286,355,000
Nov. 16 to Dec. 31.. .............................................. 1,383,402
256,120,000
1,103,789
340,671,000
409,325
155,181,000
Total ........................................................28,290,532
7,069,386,000
13,412,521
4,685,968,000
6,650,402
2,756,629,000
::::
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F"EDERAL R£S£RV£ BANK OF DALLAS INCLUDING BRANCHES
TRUST DEPARTMENT
Year 1920.
9166 Trust Receipts issued, aggregating ...................... ································································.···· $203,346,546.48
7069 Withdrawals issued, aggregating ···········································-··············································· $211,105,062.66
FISCAL AGENCY DEPARTMENT
CONVERSIONS, EXCHANGES, INTERCHANGES AND TRANSFERS OF LIBERTY
BONDS AND VICTORY NOTES
354,084 Temporary Coupon Bonds Surrendered, a ggregating ....................................................
285,233 Permanent Coupon Bonds Delivered, aggregating ..........................................................
Conversions ................................................................................................................................................
Denominational Coupon Interchanges ................................................................................................
Transfers ....................................................................................................................................................
Exchanges:
Registered for Coupons...................................................................................... $2,792,550.00
Coupon for Registered .................................................................................... $5,334,900.00
$64,599,400.00
$63,512,050.00
$13,261,100.00
$ 7,296,500.00
$ 728,650.00
Total .............................................................................................................. $8,127,450.00
$8,127,450.00
TREASURY CERTIFICATES OF INDEBTEDNESS
1920
Number of issues..................................................................................................
18
Total number of subscriptions received ..........................................................
4,098
Amount of Certificates sold................................................................................ $66,992,500.00
1919
23
6,118
$262,019,500.00
SALE OF WAR SAVINGS CERTIFICATES, STAMPS, THRIFT STAMPS, AND TREASURY SAVINGS CERTIFICATES.
1919
1920
War Savings Stamps .................................................................................................... $ 76,991.65
Thrift Stamps ..................................................................................................................
2,086.00
Treasury Savings Certificates ................................................................................. .
300,649.20
Total ........................................................................................................................
$ 418,806.45
13,640.50
1,242,778.00
$379,726.85
$1,675,224.95
INTEREST COUPONS, TREASURY CHECKS AND WARRANTS PAID
1920
Number
Interest Coupons ................................................ 1,935,212
Treasury Checks and Warrants...................... 294,765
Amount
$ 8,136,465.43
52,537,653.05
Number
2,035,577
730,373
1919
Amount
$
6,798,056.63
117,102,800.82
WAR LOAN DEPOSITARIES
Balance on deposit January 1, 1920.................................................................................................... $37,330,139.94
Total payments of C. of I. by credit...................................................................................................... 42,308,197.50
Total .................................................................................................................................................... $79,638,337.44
Total withdrawals ------------------------·-··--····---·--······--····--·····--------·--··--··············---·--··--····----------------------------- 77,685,295.44
Balance on deposit December 31, 1920................................................................................................ $ 1,953,042.00
1919
1920
Total number of qualified depositaries Dec. 31.. ........................................................................ .. 740
751
Number of banks qualifying............................................................................................................... .
9
19
Number of .b anks increasing designation ....................................................................................... .
9
70
Number of banks cancelling designation....................................................................................... .. 20
76
PERSONNEL
8-Pa Y(BAN'lt ClF DALLXS
SPECIAL REQUEST
On account of the fact that the copy of our Annual
Report of Operations recently sent you contained certain
errata which, due to the failure of the printer to submit
corrected proof, were not discovered until the report was
mailed out, you are requested to return the original
report to us, substituting therefor the corrected copy
herewith enclosed.
FEDERAL RESERVE BANK OF DALLAS.
@FedFRASER