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Earnings and expenses of each Federal Reserve Bank and of the system as a whole for the calendar year 1918—Continued.

CURRENT EXPENSES.

Expense of operation:

Assessments account expenses, Federal Reserve Board.

$32, 190 $100, 876 $33, 929 $43,073 Federal Advisory Council (fees and traveling expenses).

475 1,650 372

781
Governors' conferences (including
traveling expenses).

70
28

145
Federal Reserve Agents' conferences
(including traveling expenses).

199
113
140

191
Salaries-
Bank officers..

75,975 189, 901 64,288 81,307
Clerical staff.

264,942 | 1,082, 719 283, 624 297,579 Special officers and watchmen 9, 115 25,854 14,976 16,901 All other.

9, 049 Directors' fees....

4,150

4,160 3,060
Per diem allowance.

1, 220

60
670

1,060
Traveling expenses

938
1, 262

1, 120 1,709
Officers' and clerks' traveling expenses 4,337 4,519 2, 463 15,513
Legal fees.

2,600
3,017

1, 570 2,000
Rent....

33, 328 139, 008 5,050 37, 465
Taxes and fire insurance

25, 035 2, 423

1,939 Telephone.

6,759 13,540 6,779 5, 489 Telegraph.

3,970 19,514 3,170 6,680 Postage..

52,954 99, 440 40,283 54,346
Expressage.

25,070 47,204 26,951 5,646
Insurance and premiums on fidelity
bonds...

10, 899 32,871 16,599 20, 125
Light, heat, and power.

5, 116 6,997 1, 801 2,551 Printing and stationery.

39,348 137,960 34, 366 46,566 Repairs and alterations.

2,687 42, 146 2,565 15, 430 All other expenses..

89, 735 176, 198 45, 588 49, 135 Total expense of operation.

691, 112 2, 146, 805 593, 464 717,740 Cost of Federal Reserve currency, including expressage, insurance, etc.

167,828 335, 044 243, 857 182,092 Miscellaneous charges account note issues.. 7,558 27,921 3, 081 6, 569 Furniture and equipment..

170,933 215,043

85,784
Repairs, alterations, etc., to bank build-
ings...

61,895

31,471 Total current expenses.

970,015 2,680, 703 1,086,916 992,185 Net earnings for year 1918..

- 3,505, 180 22, 634,033 3, 270, 824 4,234, 679 Per cent of average paid-in capital.

54.7

113.5 46.3 49.3

$19, 814 $15,369 $49,378 $18,397 $14, 117 $17,998 $15, 223 $22,277 $382, 641 150 455 996 582 1,034 270

1,894 3,043

11,702
210
70
91
269
204
430
232

354 2,103
321
142
381
283
370
328
422 601

3, 491
48, 455
70, 643

105, 819 72, 573 49, 125 68,045 68,544 94, 605 989, 280
173, 118 124, 938 405, 610 206, 763 123, 102 188, 680 170, 134 287,608 3,602, 117
4,868 5, 280 32, 550 7,218

5,609

4,314 1,595 128, 280 5,008 3,060 11,958 5,212 120

784

5, 464 1, 117 41,772
3,320 2,295 4,920 8, 245

3,610
8,260
1,960

4, 307 67, 792 680 2,548 740 1,750 850 3, 675

995 1,480 15,728 1,218 1,941 2,317 1, 562 6,553 1,487

22, 796 3,015 007 5, 536 3,309 1,982 2, 426 7,757

14, 193 68,057 1, 122 3, 195 3,850

1,732 1, 225

2,215 2,919 25, 745 5, 206 18,722 53, 078 25, 739 11, 298

21, 263 659 18,306
1,823

369, 122
513

167
169 1,211

7,768 44,324 2,110 766 6,781 2,323 2,213 2,481 1,883

4,859 55,983 2,960 5,030 12,311 4,775 3, 193 4,455

9,668 11,716 87, 442 45,519

28, 998 63,774 34,813 36, 301 60, 974 24, 688 41, 813 584, 103 9,767 5, 140 10, 231 25, 192 13,039 466

28, 843 53,888 251, 137
8,464 2,041 25, 157 6,116 7,776 6,005 10,774 9, 343
6,648

156,170
762
4,899

2,523

2, 413 2,960
36,516

39,670
23, 782 75, 877 25, 386 18,361 25, 370 25,072 50, 933
12, 275

539, 537
133 20, 261 5,032 2,016 5,020

14, 742 122,367
15, 680 56,282 179,972 15, 692 16, 238 53,950 20, 278 126, 550 815,298
408, 267 378,923 1,076,624 472,046 308, 910 486,959 406, 130 776,977 8, 463, 957
118, 822 149, 390 388, 682 147,347 114, 287 98,542 82,730 238,746 2,267,367
6, 700 9,314 13,004 4,597 10, 734 57, 017

9,678 156, 173
91, 786 89, 846

172,365 102, 031 30, 477 46,710 41,758 45, 1691, 133, 524 18, 245

116, 417 643, 820 627, 173 1,650, 675 726,021 464, 408 689, 228 535, 424 1,070, 570 12, 137, 438

60.3 54.7 67.7 ,335, 228 1,665,585 6,831,072 1,950, 807 1,585,546 2,762, 708 1,554, 102 3,117,215 55, 446, 979 53.9 56.5 78.4 52.2 70.6

12.6

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Earnings and expenses of each Federal Reserve Bank and of the system as a whole for the calendar year 1918--Continued.

PROFIT AND LOSS ACCOUNT OF EACII FEDERIL RESERVE BANK AND OF THE SYSTEM AS A WHOLE FOR THE CALENDIR YEAR 1919.

Atlanta. Chicago. St. Louis.

Minne-
apolis.

Kansas
City.

Dallas.

San Fran

cisco.

Total,

$4,475,195 $25,314,736 $1,357,740 $5,226,864 $2,979,045 $2,293,059 88,491,747 $2,076,525 $2,049,954 $3,451,936 $2,059,526 $1,187,795 57,534,417
Current expenses.

970, 015 2, 680, 703 1,086, 916 992, 185 613, $20 027, 173 1,630, 675 726,021 461, 408 699, 228 535, 124 1,070, 570 12, 137, 138
Yet earnings for year..

3,505, 180 22, 631.033 3,270,824 4,231, 679 2, 335, 228 1.665, 155 16,831,072 1,9.50, 507 1,353, 516
Profit and loss account Jan. 1, 1918.

762, 708 1,554, 102 3,117,215 57, 116, 979
220, 238 132, 311

293, 407 205,736 76,685 1,158,715
Total..

3, 505, 190 22,634,033 3, 491,062 4,366,990 2,335, 228 1,665, 585 6,831,072 2,181, 145 1,385, 546 3,056, 115 1,759,839 3, 193, 900 56, 605, 694
Less amounts charged against profit and
loss on account of:
Bank premises.
200,000 803, 800 192, 604

100,000 61, 736

238,600 1,609, 137
29, 300
11,000

40,500
Imounts reserved for depreciation
on United States bonds..

172, 997
220, 734 240, 663

S48, 129
Special reserves..
299,375

7,90 397,273
Miscellaneous debits during year.

315
25, 991
10, 199 4,226

528
1,51

174,772
Total deductions.

200), 100 971, 116 298,735 9S, 883 23, 198 13,112 25,901 172, 997 39,699 324.900 313, 927 218,051 2, 730, 669
Not amount available for dividends, sur-

plus, and franchise taxes Dec. 31, 1915.. 3,305,180 21,462,917 3, 192, 327 4,248, 107 2,312,030 1,652, 473 6,803, 091 2,608, 148 1,545, 847 2,731, 155 1,445,911 2,915, 819
Dividends paid.
351, 180

53,875, 025
1,197, 026 583,3S3 716, 107 232, 132 182, 173 601, 635

169, 103 309, 729 261, 503 497,675 5, 510,684
I'roft and loss Dec. 31, 1918, after pay-
ment of dividends.

2,921,000 20,467, 891 2,60S, 344 3,5.52,000 2,079,598 1.470.000 6,200,446 '1,603,310 1,377,744 2, 121.426 1.184,408 2,448.174 49.334, 341
Distribution of profit and loss:
Carried to surplus account

735,000 3, 100, 223 801, 655 688,872 1,210,713 592,204 1,224,097 21,605, 901 tax.

1,460,500 12,795, 215 1,304, 172 1,776,000 1,039, 799 735,000 3,100,223 801,655 688,872 1,210,713 592, 204 1,224,097 26,728. 440

Boston, New York.

Philadel.

phia.

Clereland.

Richmond.

Earnings.

230,333

10,000 12, 797
Vault:

116, 131 84, 406 13, 138

1 132,0.59
14, 477

1,460, 500 7,672,676 1,304, 172 1,776,000 1,039,799
Reserved for Government franchise

i Net credit.

Earnings and expenses of each Federal Reserve Bank and of the system as a whole for the calendar year 1918—Continued. FISCAL AGENT DEPARTMENT DISBURSEMENTS OF EACH FEDERAL RESERVE BANK, AMOUNTS REIMBURSED AND BALANCES REIMBURSABLE

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AT THE END OF THE CALENDAR YEAR 1918.

Rich-
mond.

Philadel

phia.

New
York.

Cleve-
land.

Boston.

Total disbursements during 1918. $1,143,633 $4,821, 309 $1,074,145 $1,47,592 $446, 770
Amounts reimbursable Jan. 1, 1918. 143,211 360, 350 100,033 139,248 43, 221
Total

1,286, 844 5,181,659 1,174, 179 1,586.840 489, 991
Reimbursements received during 1918. 729, 235 2, 132, 129 415, 420 820,055 263, 916

$9, 065 82,721

$25,581 189, 462

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Balance reported Jan. 1, 1918. Additional cost during year 1918.

Total.. Cost of Federal Reserve notes charged to current expenses during year.

Balance Jan. 1, 1919..

| Exclusive of $658 representing cost of Federal Reserve notes in transit to branches.

Earnings and current er penses, by months, for the calendar year 1918, of each Federal Reserve Bank and of the system as a whole.

EARNINGS.

$177,636 $3,486,814
219, 174 3,356,089
255, 202 3,975, 167
233, 689 4,418, 367
258,778 4,713,083
264, 850 4,900, 670
335, 374 5,698, 160
410, 053 6,055, 535
465, 024 6,915, 977
661, 012 7,918, 524
482,721 8,011,807

521, 272 8,134, 224
4,187,785 67,584, 417

[graphic]

Boston.

New York,

Philadel

phia.

January
February.
March
April
Мау.
June
July.
August
September.
October
November
December

$229, 863 $1,338, 457
320,216 1,324, 642
276, 920 1,866,517
274, 298

1,838, 393
263, 715

1,949, 912
323, 463 1,964, 753
455, 418 1,828, 034
344, 092 2,085, 662
407,991 2,634, 482
512,690 2, 825, 751
517,025 2, 862, 607

549,504 2,795, 526
4, 175, 195 25,314,736

$191, 710
175, 229
209, 376
226,898
256, 525
292, 353
331, 912
370, 339
-411, 267
509, 593
695, 778
686, 760

$323, 991
268, 970
281, 121
339, 897
330, 207
328, 261
510, 415
509, 010
458, 327
553, 835
608, 936
713, 894

$161, 076
141, 842
152, 822
195,000
226, 812
248, 867
265, 603
277, 790
278, 659
302, 226
364, 219

364, 132
2,979,048

$88, 287
80,665
98, 726
120,035
123, 881
127,786
154, 957
186,527
247, 396
339, 952
356, 150

368, 696
2, 293,058

$435,984
380, 723
366,369
510,314
544, 357
546,379
818, 756
884, 659

938, 386
1,090,029

979, 099
986, 692

$157,599
126,773
133, 235
189,521
180,044
206, 413
262, 522
211,371
219, 923
330,758
320, 691
307,978

$87,962
82, 443
79, 780
109,530
138,007
158, 683
234, 198
250, 148
288, 150
236, 362
182, 225

202,466
2,049,954

Total

4,357,740

5, 226, 864

8,481, 747

2,676, 828

3,451,936

CURRENT EXPENSES.

Boston.

New York,

Philadel

phia.

Atlanta.

Chicago.

St Louis.

Minne-
apolis.

Kansas
City.

Dallas.

San Fran

cisco,

Total.

January
February
March
April
May.
June.
July.
August
September
October
November
December

,814

$33,030
33, 017
47.763
39, 754
41,370
20), 851
18,791
52, 426
65,578
97,061
62, 302
238,000

$150,095
154, 252
147, 036
141, 295
139, 873
154, 177
238,062
188, 137
214,376
271, 119
312.744
568,867

$30,962
41, 160
42,992
338, 567

58,706
266, 542
43,954
47,058
45, 731
60, 441
57, 787
352, 656

$63, 628
59,966
66, 153
77,965
72,779
70,959
69,615
72,049
63,421
71, 440
91, 880
206,270

$21, 523
28, 292
40,671
40,006
36,609
41,607
11,043
17,537
57, 444
16,536
74,886
167, 666

$17,832

16,821
19,869
19,546
18,177
35, 88.5
26, 591
58, 452
55,712
79,316
61, 802
214,170

$51,281
54, 167
65,471
123, 181
89, 709
120,000
129, 409
142, 255
151, 448
153, 559
152, 427
417,678

$29, 236
28, 301
33, 221
30, 416
34, 279
37, 790
47, 710
56, 453
73,055
73,854
52, 752
229,954

$21,829

19,596
22.
26,031
23, 667
30,135
31,326
41,607
51,284
38,697
36, 039
119, 383

$41,816
40,698
45,941
37, 401
50, 775
47, 107
60,99
58, 034
53,959
57, 596
65,542
129, 365

$19,517
20,034
22, 725
23,532
23,333
29, 472
79,531
41,599
49, 545
49, 777
42,283
134, 076

$37,436
37,282
46, 458
47,620
65,987
61, 274
94, 415
86,319
70,394
68,685
64, 637
390,013

$517, 203
538,916
601, 144
645,814

657, 390
1,107, 129

911, 771
891, 958

951, 947
1,068, 381
1,078, 121
3,168, 164

Total cur

rent ex-
penses,

970,015

2,680, 703

1, 086,916

992,185

613, 520

627, 473

1,650,675

726,021

Exhibit I.-RECEIPTS AND DISBURSEMENTS OF THE FEDERAL

RESERVE BOARD.

There is here given a statement of receipts and expenditures of the Federal Reserve Board in 1918. The total expenses of the Board for the year are shown on the detailed statement of commitments to have been $127,696.89.

RECEIPTS.

Unexpended balance Jan. 1, 1918

$16, 504, 44 Assessments, 1918...

382, 081. 31 Transfer from “ Expenses, Trading With the Enemy Act,” Federal Trade Commission.....

... 10,000.00 Transfer from “Expenses, Trading with the Enemy Act," Treasury Department

2,500.00 Bulletin, subscriptions to.

2,049. 14 Reimbursements....

24, 207.32 Miscellaneous...

2, 152. 26

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26, 049. 25

Commitments, in excess of receipts
Reimbursable expenditures...

$27,562. 86 Total in reimbursable account...

24, 708.03
Reimbursable expenditures in excess of receipts..
Unpaid commitments..
Deficiency

2, S54. 83

22, 701. 87 6, 202. 21

28, 904. 08 28. 904. 08

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