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SCHEDULE 18.Fiduciary powers granted national banks during 1918 in Second District

by Federal Reserve Board. Powers granted— Trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics:

Asbury Park, N. J., Merchants National Bank.
Morristown, N.J., National Iron Bank.
Paterson, N. J., Second National Bank.
Phillipsburg, N. J., Phillipsburg National Bank.
Albany, N. Y., National Commercial Bank.
Buffalo, N. Y., Manufacturers & Traders National Bank.
Canandaigua, N. Y., Canandaigua National Bank.
Canton, N. Y., St. Lawrence County National Bank.
Catskill, N. Y., Catskill National Bank.
Cooperstown, N. Y., Second National Bank,
Dunkirk, N. Y., Lake Shore National Bank.
Elmira, N. Y., Second National Bank.
Geneva, N. Y., First National Bank.
Glens Falls, N. Y., Merchants National Bank.
Hudson, N. Y., First National Bank.
Jamestown, N. Y., National Chautauqua County Bank.
Lockport, N. Y., Niagara County National Bank.
New York, N. Y., American Exchange National Bank.
New York, N. Y., Atlantic National Bank.
New York, N. Y., Chemical National Bank.
New York, N. Y., Citizens National Bank.
New York, N. Y., First National Bank.
New York, N. Y., Hanover National Bank.
New York, N. Y., Irving National Bank.
New York, N. Y., Lincoln National Bank.
New York, N. Y., Mechanics & Metals National Bank.
New York, N. Y., National Park Bank.
Nyack, N. Y., Nyack National Bank.
Oneonta, N. Y., Citizens National Bank.
Utica, N. Y., Utica City National Bank.

Watertown, N. Y., Watertown National Bank. Powers granted–Trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, receiver:

Bridgeport, Conn., City National Bank. Powers granted—Trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver:

Elmira, N. Y., Merchants National Bank. Powers granted—Trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, receiver:

Greenwich, Conn., Greenwich National Bank. Powers granted—Trustee, registrar of stocks and bonds:

Frenchtown, N. J., Union National Bank. Powers granted-Registrar of stocks and bonds:

Paterson, N. J., First National Bank.

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SCHEDULE 19.Honor roll of employees in the military or naval service of the United

States.

Name.

Entered sery

ice.

Branch of service.

Do.

Do.

Aiiken, Harold R.
Anderson, Harry A.
Anderson, William C.
Bedell, Henry M
Behan, William F.
Berger, Harry A.
Black, Norman P.
Blackford, Eugene (i.
Blackman, Harry R., jr.
Blumberg, Leo..
Bowen, Harold J..
Brennan, Thomas S.
Byrne, Edmund J
Cameron, Donald J.
Carey, Jack H...
Carnahan, Robert S.
Cokelet, William Van
Conover, William H...
Cook, James R.
Curtis, Frank M..
Cuyler, Theodore I..
Dackerman, Frank.
Dencker, Rudolph R.
Denny, Daniel...
Donaldson, Guy
Doyle, Frank P.
Drew, Earl....
Dunn, John A
Duvall, Steele.
Ehm, William A.
Ermete, Martin C
Ernest, Frank, jr.
Farrell, Frank
Felton, William.
Ferens, Albert W
Flanagan, James K
Fleming, John.
Foulon, Clement..
Furald, George
Gardner, Douglas F.
Ghia, Arthur.
Gilchrist, William J.
Gleason, Parker A
Goddard, L. W
Corman, Wilbur B..
Grillis, Frederick..
Griffiths, Wilbur C..
Guy, Earl...
Hamilton, Charles C.
Hannett, Arthur.
Hanson, Michael A.
Hart, Wiliam.
Haviland, Roger M.
Helfrich, Henry W.A.
Henry, Thomas..
Hughes, George Y
Jacobus, Joseph L.
O'Grady, Robert...
Lange, William
Steiger, Geo...
Jeanson, Adoll.
Johnson, Frank
Judge, Joseph A
Judson, Henry.
Korler, Charles J.
kryes, Howard E.
Klauser, Joseph..
Klein, Ralph..
Knillin, Frederick.
Lackaye, George J
Langan, William, jr.
Leger, Louis Wm.
Leonard, William J.
Lewis, Conrad B.
Lewis, Donald J
Lewis, Ernest E
Lord, Lyman C., jr
Lowell, Charles.
M«Cormick, George J
McPherson, William.
Maloney, Raymond..
Mance, Basil..

Apr. 6, 1918 Marines.
May 10, 1918 | Navy.
Mar. 9, 1918 Army.
Apr. 5, 1918 Naval Reserve.
Mar.
1, 1918

Do.
Aug. 15, 1918 Signal Corps.
Apr. 5, 1918

Army.
Jan. 15, 1918 Do.
Dec. 13, 1917

Do.
Sept. 21, 1918 Student Army Training Corps, Harvard.
Apr. 13, 1918 Navy.
Apr. 23, 1918 Army.
Apr. 12, 1918
Aug. 31, 1918 Do.
July 15, 1918 Canadian Royal Flying Corps.
Sept. 14, 1918 Student Army Training Corps, Columbia.
May 23, 1918 Army.
June 22, 1918 Do.
July 19, 1919 Do.
Sopt. 4, 1915
Dec. 15, 1917 Navy.
Aug. 9, 1918 Do.
Aug. 3, 1918 Signal Corps.
May 24, 1918

Army.
Dec. 15, 1917 Navy.
July 20, 1918 Army.
May 1, 1918

Do.
Apr. 27, 1918 Do.
Apr. 23, 1918 Do.
July 16.1917 National Guard.
Sept. 2, 1918 Student Army Training Corps, St. John's.
Sept. 15, 1918 Naval Reserve,
May 23, 1918 Army.
Mar. 1, 1918 Do.
June 30, 1918
Oct. 15, 1918 Do.
Mar. 19, 1918 Nary.
July 27, 1918 Do.
Sept. 1,1918 Merchant Marine.
May 22, 1918 Army.
July 27, 1918 Do,
July 15, 1918

Do.
June 6, 1918 Naral Reserve.
Oct. 1, 1918 Nary.
Ang. 3, 1918 Naval Reserve.
Nov. 30, 1917 Royal Flying Corps.
May 5, 1918 Army.
Dec. 31, 1917 Do.
July 12, 1918 Nary.
Aug. 31, 1918 Do.
June, 1917 Do.
Nov. 30, 1917

Army.
Dec. 15, 1917 Navy.
July 13, 1918 National Guard.
Sept. 4, 1918 Army.
Dec.

8,1917 Navy.
Sept. 3, 1918

Army.
Aug. 15, 1918 Do.
Sept. 23, 1918 Student Army Training Corps.
July 31, 1918 Merchant Marine.
July 24, 1918 Army.
May 20, 1918 Do.
Oct. 31, 1918 Student Army Training Corps.
Aug. 24, 1918 Army.
Nov. 15, 1917 Navy.
Nov. 4, 1918 Army.
Sept. 4, 1918 Do.
Mar. 31, 1918
Mar. 20, 1918 Do.
June 22, 1918
July 10, 1918 Navy.
Apr. 30, 1918 Army.
July 27, 1918 Navy.
Dec. 15, 1917

Do.
..do...

Do.
Sept. 1, 1918 Merchant Marine.
May 23, 1918 Army.
Nov. 21, 1917 Navy.
Dec. 1, 1917 Army.
Apr. 15, 1918 Do.
Feb. 19, 1918
Feb. 28, 1918

Do.

Do.

Do.

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SCHEDULE 19.Honor roll of employees in the military or neral service of the United

States-('ontinued.

Vame.

Entered serv

ice.

Branch of service.

Do.

Do.

Do.

Marcus, Warren, ir.
Markert, Russell E.
Mellor, Walter..
Mevran, George D., jr.
Miller, Edward A.
Moore, W. B.J.
Muller, Carl...
North, James C.
Pannick, Frank, jr.
Peper, John L
Prescott, Harvey B.
Propek, Lawrence J.
Quirk, William A..
Rrinbrecht, Downing A
Ros, Irwin G..
Schultz, Gieorge W
Schwartz, Roland s.
Scott, Joseph D
Seifert, Louis J.
Senior, Charles, jr.
Simpson, James L.
Somers, Sutphen M
Stiess, Henry F
Suker, George
Tomkins, Edward J.
Weaver, Luther O
Wiese, Rudolph E.
Wightman, Walter H
Wills, Ralph G
Winget, Clifford.
Wise, John B.
Wonsor, Edward.
York, Clarcrce S.

Dec. 10, 1917
Mar. 15, 1918

Do.
Nov. 30, 1917 Nary.
Nov. 23, 1917 Army.
Apr. 30, 1916 Do.
July 15, 1917 National Guard.
Mar. 14, 1918 Army.
June 15, 1918 Nary.
Mar. 2, 1918 Army.
Sept. 15, 1918 Student Army Training Corps, Columbia
Dec. 31, 1917 Navy.
Oct. 24, 1918 Army.
Sept, 21, 1917
Dec. 1, 1917 Do.
Sept. 30, 1918
May 1917

Navy.
Sept. 7, 1918 Army.
June 3, 1918 Nary.
May 23, 1918 Army.
Sept. 15, 1917 Do.
Feb. 27, 1918 Do.
June 2, 1918 Naval Reserve.
May 21, 1918 Army.
Sept. 1, 1918 Do,
Nov. 24, 1917

Do.
June 1916 Navy.
Dec. 15, 1916 Army.
May 15, 1918 Marines.
July 27, 1918 Nary.
July 21, 1917 New Jersey National Guard.
Oct. 1, 1918

Navy.
Dec. 28, 1917 ilo.
July 20, 1918 Army.

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Two of those named above died in the performance of their duty. William Fraser Behan, a cadet flyer, in training at Bay Shore, Long Island, was killed in the fall of a hydroplane, and Luther Oberlin Weaver was among those lost with the United States patrol boat Alcedo, which was sunk by an enemy submarine.

SCHEDULE 20.--Schedule showing when the proceeds of items will become available. Immediate credit:

New York (Manhattan); when received by 9. a. m.
One day after receipt:
Boston.

| Baltimore.
Philadelphia

Pittsburgh.
Richmond.
Roanoke, Va. (see par

list).
Two days after receipt:
Cleveland.
Connecticut.

New Jersey.
tCincinnati.
Delaware.

*New York.
Chicago.

District of Columbia. *Pennsylvania.
Detroit.
Maine.

Rhode Island.
Atlanta.
*Maryland.

Vermont.
Minneapolis.
*Massachusetts.

*Virginia.
St. Paul.

New llampshire.
St. Louis.
Kansas City, Mo.
Kansas City, Kans.
Louisville.
† Branch banks.

* Except banks in cities referred to in first column.

Banks in

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† Branch banks.

* Except banks in cities referred to in first column, Note. -Two day items we forward on Saturday will be available Tuesday.

Four day items we forward Thursday will be available Tuesday and those forwarded Friday and Satur. day on Wednesday.

to obtain quickest availability of funds, sort and list checks in accordance with above time schedule, with a separate cash letter for each separate time group.

Banks desiring to send checks direct to other Reserve Banks or their branches will please secure from us the circulars showing the territory handled by the branches.

JUNE 1, 1915.

DISTRICT NO. 3-PHILADELPHIA.

R. L. AUSTIN, Chairman and Federal Reserve Agent.

INTRODUCTION.

The report of the Federal Reserve Bank of Philadelphia for the year 1918 shows a great increase in operations over the previous year, and reflects the effect of the war on financial operations. The easo with which this district absorbed its allotments of the great Government loans and financed the industries engaged in war work, was due to the greater availability of the credit resources of the country made effective through the Federal Reserve system.

The banks of the district cooperated with the Government in its financing of the war to the fullest extent possible by loaning freely to subscribers to Liberty bonds, which they were able to do through the rediscounting facilities of the Federal Reserve Bank.

RESULTS OF OPERATION. A comparative statement of the condition of the Federal Reserve Bank of Philadelphia is given in the appendix of this report (Schedule 1).

The resources of the bank more than doubled during the year and are eight times greater than the figures for the close of 1916. On December 31, 1914, less than two months after the bank opened for business, the resources amounted to $21,501,000.

Compared with December 31, 1917, figures at the end of 1918 indicate an increase of $12,068,480 in the gold holdings and an increase of $144,544,990 in the amount of Federal Reserve notes in circulation. The work of gathering in the gold in circulation throughout tho district, which had been begun in the previous year, was continued, and the increase noted above is due largely to this work.

The paid-in capital increased $1,420,300 during the year. This was brought about principally by the admission of State banks and trust companies, having combined capital and surplus of $38,812,917.

The item “Federal Reserve bank notes” appears in the statement for the first time. Further reference to it is made hereinafter.

Net earnings reached the large amount of $3,270,824, or 46 per cent on the average paid-in capital stock for the year. After payment of

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