The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Federal Reserve Bank of Dallas REPORT TO STOCKHOLDERS December 31, 1935 This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) January 17, 1936. To the Stockholders of the Federal Reserve Bank of Dallas: I am pleased to submit herewith comparative balance sheet of the Federal Reserve Bank of Dallas, including branches, at the close of business December 31, 1935, and December 31, 1934, together with a statement of the Profit and Loss Account for these years and statistical exhibit reflecting the activities of the various departments of the bank. Very truly yours, B. A. McKINNEY, Governor. .1 COMPARATIVE STATEMENT OF CONDITION RESOURCES Earning Assets: Dec. 31, 1935 Dec. 31, 1934 Bills Discounted --------------------------------$ 11,821.00 $ 12,000.00 Industrial Advances -------------------------1,780,594.53 1,044,577.00 Bills Bought in Open Market____________ 126,002.55 154,014.92 U. S. Government Securities____________ 78,975,000.00 71,475,000.00 Total -------------------------------- 80,893,418.08 72,685,591.92 Reserves: Gold Certificates on Hand and Due from U. S. Treasury ______________________ 128,869,276.24 106,020,990.27 Redemption Fund-Federal Reserve Notes ---------------------------------- ___________ 681,208.7 4 327,574.34 8,739,255.58 Other Cash -----------------------------------------6,658,961.95 Total -------------------------------- 136,209,446.93 115,087,820.19 · Due from Foreign Banks______________________ 17,279.27 22,544.03 Federal Reserve Notes of Other F. R. Banks ---------------------------------------- _______ . 608,150.00 420,900.00 Uncollected Items ------------------------------ ___ 19,607,226.28 15,451,398.39 Bank Premises, Net -----------------------------1,523,803.10 1,683,965.70 All Other Resources____________ ____________________ 761,077.21 856,194.85 $239,620,400.8 7 $206,208,415.08 LIABILITIES Capital Paid In ___________________ _____ _______ _________$ 3,772,750.00 $ 4,048,050.00 Surplus (Section 7) ------------------------------- 3,783,161.95 3,777,348.29 Surplus (Section 13b) ____________________________ 1,256,096.35 Deposits: Member Bank-Reserve Account ___ _ 123,816,056.60 121,135,142.23 U. S. Treasurer-General Account .. 4,855,759.66 2,578,175.68 Foreign Bank ____________ _________ _______________ _ 756,685.73 537,146.94 2,234,676.99 1,142,286.17 All Other -------------------------------------------Total __________________ _ 131,663,178.98 125,392,751.02 Deferred Availability Items__________________ 21,693,543.88 17,719,659.07 Federal Reserve Notes in Actual Circulation ------------------------------------------------ 76,064,025.00 53,845,335.00 Reserve for Contingencies______ _ _ .. 1,361,207.94 1,363,250.63 All Other Liabilities____________________________ 26,436.77 62,021.07 $239,620,400.87 $206,208,415.08 Ratio of Total Reserves to Deposit and F. R. Note Liabilities Combined _____ _ Contingent Liability on Bills Purchased for Foreign Correspondents $ Commitments to Make Industrial Advances -------------------------------------------------- 66% 64 % $ 592,987.96 18,323.68 COMPARATIVE STATEMENT OF PROFIT AND LOSS ACCOUNT FOR THE YEARS 1935 AND 1934 Earnings on: 1935 1934 $ Bills Discounted __ ----------------------------------- .$ 6,651.06 7,612.16 Industrial Advances -------------------- ------------ 97,424.50 8,404.96 Bills Purchased -----------------------------------------933.94 United States Securities __________________________ 1,382,121.23 15,903.21 1,449,799.18 20,113.27 40,251.68 t Gross Earnings ---------------------------- 1,507,244.00 1,521,971.19 I Cost of Federal Reserve Currency__ ________ 19,017.86 Other Current Expenses _________________________ 1,210,149.93 19,135.14 All Other ---------------------- - ------------------~-------- Less: 1,141,976.16 Current Net Earnings____ ______________ 278,076.21 360,859.89 Additions to Current Net Earnings____________ 184,009.58 282,104.34 462,085.79 642,964.23 Reserve for Losses _______________________________________ _ 80,440.33 Reserve for Self-Insurance _________________________ _ 150,000.00 Building Reserve and Other Deductions from Current Net Earnings____________________ 195,228.69 80,654.93 Net Available Earnings_ ________ ____ $ 266,857.10 $ 331,868.97 Disposition of Net Earnings: Dividends Paid ---------------------------------------Transferred to Surplus (Section 7) ______ 237,615.39 5,813.66 Transferred to Surplus (Section 13b) __ 4,308.27 237,923.61 93,945.36 Paid to Secretary of the Treasury (Section 13b) ---------------------------------------------------- 19,119.78 $ 266,857.10 $ 331,868.97 VOLUME OF THE PRINCIPAL TRANSACTIONS HANDLED DURING THE YEARS 1935 AND 1934 (Units and Amounts Shown in Thousands) 1935 Units Discounts and Advances __ _____ __________ _ 1934 Amount 3 $ 5,230 Units 2 $ Amount 3,961 Currency Received ------·----------------------- 51,653 176,152 51,392 181,775 t Coin Received -------------------------------------- 45,258 5,343 42,054 5,443 I Checks Collected for Member Banks and Other Federal Reserve Banks 35,562 6,045,063 31,002 5,348,523 886 26,946 778 24,283 Reserve Banks ____ ----------------------- 203 276,384 213 249,525 Government Interest Coupons Paid_. 249 5,484 485 8,404 295 2,846 4,848 405,925 6,318 436,014 65 3,026,722 136 386,183 54 42,407 Checks Returned Unpaid .... ·--·-----------· Notes and Drafts Collected for Member Banks and Other Federal Coupons of Government Agencies Paid ----·-···--··-·----·-------------------------Government Checks and Warrants Paid ---------------------------------------------Transfers of Funds for Member Banks ----------·------------------------------Government Securities Issued, Exchanged and Redeemed ___ __________ _ 74 2,663, 740 114 416,722 Securities of Government Agencies Issued, Exchanged and Redeemed ---------------------------------------Purchase and Sale of Securities and Acceptances for Investors---···---- 249,362 810,641 OFFICERS AND DIRECTORS OF THE FEDERAL RESERVE BANK OF DALLAS AND BRANCHES JANUARY 1, 1936 OFFICERS C. C. WALSH, Chairman of the Bon rd and Federal Reserve Agent B. A. McKINNEY, Governor R. R. GILBERT, Deputy Governor CHAS. C. HALL, Assistant Federal Reserve Agent and Secretary of the Board R. B. COLEMAN, Deputy Governor and Caohier W. 0. FORD, Assistant Deputy Governor W. E. B. AUSTIN, Asaistant Cashier J. EVANS, Agent A•sistant Federal L. G. PONDROM, Assistant Cashier W. P. CLARKE, General Auditor R. 0 . WEBB, Aasiatant Cashier C. C. TRUE, Assistant Auditor Reserve MEMBER FEDERAL ADVISORY COUNCIL J. H. FROST, President, Frost Nationnl Bank, San Antonio, Teza• COUNSEL C. C. HUFF, General Couneel LOCKE, LOCKE, STROUD and RANDOLPH, Counsel DIRECTORS ClauA Term Ezpiree R. E. HARDING, President, Fort Worth National Bank, Fort Worth, Texaa.............................. 1988 PAT E. HOOKS, President, First National Bank, Itasca, Texas...................................................... 1937 ALF. MORRIS, President, First National Bank, Winnsboro, Texas................................................... 1938 Cla11B J . R. MILAM, VIce-President. Cooper Grocery Company, Waco, Texas .............. 1936 A. S. CLEVELAND, W. D. Cleveland & Sons, Houston, Texas.............. . . . ... ............................ 1987 JOHN D. MIDDLETON, President, Texas Refining Company, Greenville, Texaa ............................ 1938 Cla11 C S. B. PERKINS, P1·esident, Perkins Dry Goods Company, Dalla&, Texa•. Deputy Chairman ........ 1986 C. C. WALSH, Dallaa, Texaa, Chairman .................................................................................................... 1937 - - -------·------·-----------------·----------------------------------·-----···-----·····--··-------··----------------------------·-- ---------·--·· ....... I 938 EL PASO BRANCH OFFICERS J, L. HERMANN, Manaeine Director ALLEN SAYLES, Cashier DIRECTORS S. P. APPLEWIDTE, Investments, Dou~rlas, Arizona, Chairman Managin~r C. N. BASSETT, President, State National Bank, El Pa10, Texas J. L. HERMANN, Tezas FRANK R. COON, President, Mimbres Valley Bank, Demin~r, New Mexico SAM D. YOUNG, Vice-President, El Paso National Bank, El PalO, Texas Director, El Paso, HOUSTON BRANCH OFFICERS W. D. GENTRY, Mana~rin~r ll. R. DeMOSS, Cashier Director DIRECTORS SAM TAUB, J. N. Taub and Sons, Houston, Texas, Chairman W. D. GENTRY, Texas Director, Houston, SAM R. LAWDER, Vice-President, Fir at National Bank in Houston, Houston, Texae A. A. HORNE, Vice-President, City National Bank, Galveston, Texas J. A. WILKINS, President, State National Bank, Houston, Texas Manqin~r SAN ANTONIO BRANCH OFFICERS Ill. CRUMP, Manaeine Director W. E. EAGLE, Cashier DIRECTORS JOHN M. BENNETT, President, Standard Trust Company, San Antonio, Texas, Chairman J. K. BERETTA, President, National Bank of Commerce, San Antonio, Texas Ill. CRUMP, Manqine Director, San Antonio, Texas GEORGE C. HOLLIS, President, Firat National Bank, Eelrle Pass, Texaa FRANK M. LEWIS, SR., Owner, F. M. Lewis Co., Su~rar Brokers, San Antonio, Texas WALTER P. NAPIER, Preaident, Alamo National Bank, San Antonio, Texas . I
