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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