frsbog_mim_v14_complete.pdf

1

2-1550

EEIERAL B2SERW BOARD A11T0U1KEI.EKT FOR THE TCEMK ENDING JANUARY 7 , 1921:

ADMITTED TO TEE FETIERAIj RESERVE SYSTEM: T o t a l

C a p i t a l s u m Ins Rescnroej

DISTRICT NO. 6. O r r v i l l e Bank & Trus t Co , ,

O r r v i l l e , Alabama $25,000 $26,500 $202,612

The Farmers S t a t e Bank, H a y f i e l d , Minnesota 25,000 14,000 638,418

Bank of Boulder , Boulder , Montana 50,000 25,000 649,005

Bank of commerce, 944,324 F o r s y t h , Montana ' 75,000 37,500 944,324

Montana Trus t & Savings Bank, Helena , Montana 150,000 75,000 1,969,591

F h i l i p s b u r g S t a t e Bank, 491,471 P h i l i p s b u r g , Montana 40,000 15,000 491,471

L i t t l e Horn S t a t e Bank, Wyola, Montana 25,000 6,750 117,364

DISTRICT NO- 12. F i r s t S t a t e Bank,

R i c h f i e l d , Idaho 25,000 4,000 200,209

1 1 OF HAMBi The Guardian T r u s t & sav ings Batik, Toledo, Ohio,

t o The Commerce Guardian Trus t & Savings Bank. The H i b e r n i a Savings Bank, P o r t l a n d , Oregon,

to Elbe m i a Commercial & Savings Bank.

CONS OL IDAS .TQIT: The F i r s t T r u s t & Savings Co. , Cleve land , Ohio, and The c i t i z e n s

Savings & Trus t Co . , Cleveland, Ohio, have conso l ida t ed under the name of The Union T rus t Company.

PERMISSION GBAN3ED TO EXERCISE TRUST FOYERS: The F i r s t Na t iona l Bank of B iddefo rd , B iddefo rd , Maine The F i r s t Na t iona l Bank of Bordenfcown, Bordentovvn, New J e r s e y The F i r s t Na t iona l Bank of B l a i r s v i l l e , B l a i r s v i l l e , Pennsylvania .

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

X-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR m WEEK ENDING JANUARY 14, 1921;

AH.1ITTED TO THE EEIERAL RESERVE SYSTEM:

T o t a l C a p i t a l s u r p l u s Resources

DISTRICT NO. 6.

Roanoke Banking Company, Roanoke, Alabama 200,000 200,000 $1,515,512

C i t i z e n s S t a t e Bank, Marianna, F l o r i d a 30,000 10,000 407,542

77alt on County Bank, S o c i a l C i r c l e , Georgia 50,000 18,000 265,957

VOLUNTARY LIQUIDATION:

Union Commercial Bank, Mobile Alabama.

CHANGE OF NAME:

Penn Count ies T r u s t C o . , AHentown, P a . , t o penn T r u s t Company. L i b e r t y Bank, S t . L o u i s , M i s s o u r i , t o L i b e r t y C e n t r a l T rus t Co, The F i d e l i t y Trus t Co . , Newark, N. J . , t o F i d e l i t y Union T r u s t Co. The C e n t r a l Bank, S t . P a u l , Minnesota , t o C e n t r a l M e t r o p o l i t a n Bank.


X-1530

EBIEBAL RESERVE BOARD AIOTOUNCEMENT , FOB THE WEK ENDING JANUARY 21, 1921.

ADMITTED TO THE FEDERAL RESERVE SYSTEM:

T o t a l C a p i t a l s u r p l u s Resources

DISTRICT IIP, 1.

The Hub Trus t Company, Boston, Massachuse t t s , $500,000 $60,000 $1,878,718

DISTRICT NO. 6.

Bank of Candler County, M e t t e r , Georgia , 25,000 - - 25,000

DISTRICT HO. 11.

F i r s t S t a t e Bank of Miss ion , Miss ion , Texas , 50,000 6,750 553,021

WITHDRAWAL:

Exchange S t a t e Bank, South S t . P a u l , Minnesota ,

LIQUIDATION:

Stockgrowers Bank & Trus t Co . , P o c a t e l l o , Idaho.

AUTHORIZED TO ACCEPT DRIFTS AND BILLS OF EXCHANGE UP TO 100 PER CENT OF CAPITAL AMD SURPLUS:

The Union Trus t Company, Cleveland, Ohio.

PERMISSION GRANTED TO EXERCISE TRUST POKERS:

The Apple ton Na t iona l Bank of Lowell , Lowel l , Mass. The Quassaick Na t iona l Bank of Newburgh., ITewburgh, N. Y. The F i r s t N a t i o n a l Bank of B r o o k s v i l l e , B r o o k s v i l l e , F l a . The F i r s t Na t iona l Bank of Menominee, Menominee, Mich. The Second N a t i o n a l Bank of Minot , Minot , N. Dak. The Columbia Na t iona l Bank of Kansas C i t y , Kansas C i t y , Mo. The Marine Na t iona l Batik of S e a t t l e , S e a t t l e , Wash. The Four th N a t i o n a l Batik of Cadiz , Cadiz , Ohio.


5,-1530

FEDERAL EESERVB BOAED ANNOUNCEMENT, FOE THE WEEK ENDING JANUARY 28, 1921.

AIMIT1ED TO THE FEDERAL RESERVE SYSTEM: To ta l

C a p i t a l Surp lus Resources

DISTRICT HO. 5,

Batik of Washington, Washington, North Caro l ina $150,000 $37,500 $1,365,457

DISTRICT 110. 6.

The C i t i z e n s Bank & Trus t Co. , Bair ibr idge, Georgia 100,000 20,000 693,672

The Bartow Bank, Bartow, Georgia 25,000 5,000 270,163

The Bank of p o r t a l , P o r t a l , Georgia 25,000 - - 145,199

C i t i z e n s Bank, Hoheiwald, Tennessee 35,000 - - 153,578

DISTRICT NO. 7.

Lake View S t a t e Bank, Lake View, Iowa 25,000 25,000 396,290

DISTRICT NO. 10.

The Bank of Van T a s s e l l , Van T a s s e l l , Wyoming 25,000 7,000 107,580

CONSOLIDATION:

The a s s e t s of The Guaranty s t a t e Bank, Okmulgee, Oklahoma# have been t aken over by a non-member batik.

PERMISSION GRANTED TO EXERCISE TRUST P0.7ERS:

The F i r s t Nat iona l Bank of G r e e n f i e l d , G r e e n f i e l d , Mass. The Bath Na t iona l Bank, Bath, N. Y. The F i r s t Na t iona l Bank of Ches te r , Ches t e r , Penna. The F i r s t Na t iona l Bank of Get tysburg , Ge t tysburg , Penna. The Na t iona l Bank of Alafliance, Graham, N. C. The Farmers & Merchants Nat ional Bank, Winches te r , Va. The F i r s t Na t iona l Bank of Marengo, Marengo, 111. The F i r s t Nat iona l Bank of Ruthven, Ruthven, Iowa. The F i r s t Na t iona l Bank of Cuba, Cuba, N. Y.


X-1530

EBDEEAL EESEBVE BG/.ED AITOU:TCE:EH FOE THE WEEK EHDEfG F^ BETJAEY 4 , 1921.

ABUTTED TO THE FEIEE..L EESEEV3 SYSTEM:

DISTRICT HQ. 6.

T o t a l C a p i t a l Surplus Resources

Bank of M i l l e n , I l i l l e n , Georgia $ 5 0 , 0 0 0 50,000 $597,475

DISTEIOT IIP. 7.

Ulch Bros. S t a t e Bank, Solon, Iowa 50,000 15,000 1,099,478

DISTEIOT HO. 11.

The Farmers S t a t e Bank, P iano , Texas 60,000 40,000 441,643

DISTEIOT IIP- 12.

Bellevue Bank & Trus t Co. , Be l l evue , Idaho 50,000 52,500

S t a t e Bank of G a r f i e l d , Pangu i t ch , Utah 50,000 50,000 549,973

WITHDRAWAL:

Bank of Go l t ry , G o l t r y , Cfclahoma.


X-1530

EEIEBAL BESERVE BOABD AM0U1ICEKEBT FOE THE WEEK BHDI1C IE3EUAEY 11, 1921.

ABUTTED TO THE FETEBAL FESEEVE SYSTEM:

T o t a l C a m t a l Surp lus ^ s o u r c e s

DISTRICT NO. 6.

The B a r n e s v i l l e Batik, B a r n e s v i l l e , Georgia. $50,000 $10,000 230,054

DISTRICT NO. 8.

Grenada Bank, Grenada, M i s s i s s i p p i . 250,000 319,000 8 ,025,071

DISTRICT NO. 12,

Pomeroy S t a t e Bank, pomeroy, Washington. 50,000 150,000 1,283,333


2-1530

FEDERAL RESERVE BOARD ALTCLvTCn.lEII? FOR THE m m ENDING FEBRUARY 18, 1921.

ADMITTED TO THE FEDERAL RESERVE SYSTM: TOTAL

CAPITAL SURPLUS RESOURCES

DISTRICT HO. 2. Cit izens Trust Company,

Fredonia, New York, $100,000 $85,000 $1,899,339

DISTRICT NO. 6. The Farmers Bank,

Monroe, Georgia, 150,000 30,000 534,779

DISTRICT HO. 7. The Gerber State Bank,

Argenta, I l l i n o i s , 25,000 2,500 251,649

DISTRICT NO. 11. The Paradise State Bank,

Paradise, Texas, 25,000 132,008

VOLUNTARY LIQUIDATION: United Loan and TSust Company, Inc . , Lynchburg, 7a.

CHANGE OF NAME: French-American Bank of Savings, San Francisco, C a l i f . ,

to l35ie French American Bank. Lansing State Savings Bank, Lansing, Michigan,

to American State Savings Bank.

AUTHORIZED TO ACCEPT DRAFTS AND BILLS OF EXCHANGE UP TO 100 PER CENT OF CAPITAL AND SURPLUS: Hie Wheeling Bank & Trust Co., Wheeling, W. Va.

PERMISSION GRANTED- TO EXERCISE TRUST POWERS: The Home National Bank of Meriden, zer iden, Conn. The Home National Bank of Milford, Milford, Mass. The Tradesmen1s National Bank, Philadelphia, Pa. The Cit izens National Bank, waynesburg, Pa. The Second National Bank of Bucyrus, Bucyrus, Ohio. The Farmers & Merchants National Bank, Baltimore, Md. The F irs t National Bank of Remsen, Remsen, Iowa. The F i r s t National Bank of Canton, Canton, S. Dakota.


X-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING FEBRUARY 25, 1921.

ADMITTED TO THE FEDERAL RE SEE YE SYSTEM:

T o t a l C a p i t a l Su rp lu s Re s o u r c e s

DISTRICT NO. 3 . Dime D e p o s i t Bank,

Kulpmont, Penna. $50,000 $30,000 ^324,477

DISTRICT NO, 6 . P e o p l e s Bank & Trus t Co. ,

Bo l l Buck le , Tcnn. 30,000 183,138

DISTRICT NO. 7 . Old State*' "Bank,

F e n n v i l l e , Mich. 50,000 10 ,000 551,690

DISTRICT NO. 12 . Farmers a Merchan t s Bank,

Long Beach, C a l i f . 350,000 325,000 6 ,543 ,619 The Commercial Bank of Yakima, Yakima, Wash, 100,000 10 ,000 746,863

CONVERSION:

The C i t i z e n s S t a t e Bank of Stanwoocl, Washington, h a s c o n v e r t e d i n t o a N a t i o n a l bank .

AUTHORIZED TO ACCEPT DRAFTS AND BILLS OF EXCHANGE UP TO 100 PER CENT OF CAPITAL AND SURPLUS:

The F i r s t N a t i o n a l Bank of Braddock, Bradtiock, penna


9

2 - 1 3 0

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING MARCH 4 , 1921.

T o t a l Surplus Resources

DISTRICT MO. 3.

Aldine Trus t Company, P h i l a d e l p h i a , Penna. $517,600 ^340,560 $3,310,594

DISTRICT NO. 7 .

The Michigan S t a t e Bank, Baton Rapida, Mich. 75,000 15,000 654,449

DISTRICT MO. 12.

Long Beach Savings Bank & Trus t Co. , Long Beach, C a l i f o r n i a 350,000 165,000 4 ,920,742

CHANGE OF NAME;

The Commercial Savings Bank, Mason C i t y , Iowa, to City-Commercial Savings Bank.

The Commercial Savings Bank, Fenton, Michigan, to The Commercial S t a t e Savings Bank.

PERMISSION GRANTED* TO EXERCISE TRUST POWERS:

P e n i n s u l a Na t iona l Bank of Ceda rhur s t , Cedar l iurs t , N. Y. The F i r s t Na t iona l Bank of Spar t ansburg , Spa r t ansbu rg , S. C. The Minnesota N a t i o n a l Bank of Duluth , Dulu th , Minn. The F i r s t Na t iona l Bank of Pender , Pender , Nebr.


9

X - 1 5 3 C

FEDERAL RESERV3 BOARD ANNOUNCEMENT FOB THE Yi/EEK ENDING- MARCH 11, 1921.

. Total Capital Surplus Resources

DISTRICT NO. E. The Bank of Depew,

Depew, New York $50,000 $15,000 650,499 The Liberty Bank of New York,

New York, New York 5,000,000 5,000,000 119,544,027

DISTRICT NO. 6. Bank of Cartersv i l l e ,

Cartersv i l l e , Ga. 100,000 50,000 650,946 The Exchange Bank,

Cordele, Ga. 100,000 100,000 860,730 Cit izens Bank & Trust Co., -

Je f ferson , Ga. 89,540 231,683 The Bank of Lavonia,

Lavonia, Ga. 40,000 10,000 214,215 The Brand Banking Co.,

Lawrenceville, Ga. 50,000 50,000 469,911

DISTRICT NO. 8 . Pine Lawn Bank,

Pine Lawn, Missouri 30,000 3,000 75,422

DISTRICT NO. 9. Tho State Bank of Ewen,

Ewen, Michigan 25,000 11,250 400,095 Commercial State Bank,

Gregory, S. Dakota 50,000 6,020 549,182

DISTRICT NO- 12. Sacramento-San Joaquin Bank,

Sacramento, C a l i f . 3,000,000 29,662 32,488,907 Eden State Bank,

Eden, Idaho 25,000 2,500 188,52o Bank of Jordan Valley,

Jordan Valley, Ore. 50,000 25,000 608,083


She Liberty Bank of New York, New York, N. Y.


- - X-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING MARCH 11, 1921.

PERMISSION GRANTED TO EXERCISE TRUST POWERS:

The Farmers National Bank of Amsterdam, Amsterdam, N. Y The Farmers National Bank of Boyertown, Boyertown, Fa. $he Zanheim National Bank, Manheim, pa. The Cit izens National Bank of New Philadelphia, Ohio. The F ir s t National Bank of Graettinger, Graettinger, la . The F i r s t National Bank of Fort Smith, Fort Smith, Ark. Commercial National Bank of Miles City, iffiles City, Mom;. The F ir s t National Bank of Belden, Belden, Nebr.


X-1520

FEDERAL BE SERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING MARCH 18, 1921.

ADMITTED TO THE FEDERAL RESERVE SYSTEM: Tota l

Cap i t a l Surplus Resources

DISTRICT NO, 4 . The Rel iance Trust Company,

Cleve land , Ohio, #200,000 $50,000 #250,000

DISTRICT NO. 6 . Bank of Bowman,

Bowman, Georgia , Southern Exchange Bank,

Dubl in , Georgia , Bank of S t a t e s b o r o ,

S t a t e s b o r o , Georgia , The Bank of Toccoa,

Toccoa, Georgia,

DISTRICT NO* 9. I h l e n S t a t e Bank,

I h l e n , Minnesota, Bank of P h i l i p , P h i l i p , S .

DISTRICT NO. 11. C i ty Guaranty S t a t e Bank,

C h i l d r e s s , Texas,

DISTRICT NO. 12. Monterey County Batik,

S a l i n a s , C a l i f o r n i a ,

35,000 10,000 246,260

100,000 1,000 387,553

75,000 75,000 655,037

50,000 10,000 307,735

25,000 2,000 208,001 40,000 5,000 376,745

100,000 746,300

275,800 57,900 3,256,038

WITHDRAWAL: The S t a t e Bank of S h o r t s v i l l e , S h o r t a v i l l e , New York.

LIQUIDATION: The American Bank of Commerce, Scranton , Pennsy lvan ia .

CONVERSION: The Commerce Bank & Trust Company, C h a r l o t t e s v i l l e , V i r g i n i a ,

has conver ted i n t o a n a t i o n a l bank.

PERMISSION GRANTED TO EXERCISE TRUST POWERS: The Merchants Na t iona l Bank of J e r s e y C i t y , J e r s e y C i t y , N. J . The Cement N a t i o n a l Bank of S i e g f r i e d a t Northampton, Penna. The Merchants Nat iona l Bank of B u t l e r , B u t l e r , Penna. The F i r s t Na t iona l Bank of Sioux C i t y , Sioux C i t y , Iowa. The F i r s t N a t i o n a l Bank of Rac ine , Rac ine , Wis . The F i r s t N a t i o n a l Bank of Great Bend, Great Bend, Kans,


X-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING MARCH 25, 1921.

ADMITTED TO THE FEDERAL RESERVE SYSTEM,

To ta l C a p i t a l Surp lus Resources

DISTRICT NO. 7 . S t a t e Bank of Fremont,

Fremont, Iowa ' $40,000 $60,000 $532,387

DISTRICT NO. 11. Como S t a t e Bank,

Como, Texas 35,000 20,000 206,406

DISTRICT NO. 12. C i t i z e n s S t a t e Bank,

San Luis Obispo, Cal . 125,000 15,000 156,250 F i r s t S t a t e Bank,

S a l i n a , Utah 25,000 42,500 689,248

VOLUNTARY LIQUIDATION: The Hibern ia Bank of Savannah, Savannah, Georgia .

AUTHORIZED TO ACCEPT DRAFTS AMD BILLS OF EXCHANGE UP TO 100 PER CENT OF CAPITAL AND SURPLUS:

Cdbt ra l Na t iona l Bank Savings & Trus t Co. , C leve land , Ohio.


The American Na t iona l Bank of A s h e v i l l e , A s h e v i l l e , North C a r o l i n a . The Tennessee Na t iona l Bank of Johnson C i t y , Jahnson C i t y , Tennessee. The Na t iona l Bank of Commerce, Milwaukee, Wiscons in .


X-1530

FEDERAL RESERVE BOARD AMOtMCEMENT FOB m WEEK ENDING A2B.iL i , 1921.


C a p i t a l Surp lus

DISTRICT NO, 5.

Bfimk of Edehthn , Edenton , Nor th Ca ro l i na

DISTRICT NO. 6 .

Bank of Bos ton , Bos ton , Georgia

DISTRICT NO. 8 .

Lemay F e r r y Bank, Luxemburg, Missour i

DISTRICT NO, 9 .

B a l l a n t i n e S t a t e Bank, B a l l a n t i n e , Montana

F i r s t S t a t e Bank, P h i l i p s b u r g , Montana

25,000

25,000

25,000

25,000

MERGER:

5,000

10,000

3,500

35,000

To ta l Resources

$66,900 #66,900 $897,550

182,979

863,364

137,384

595,412

The L i b e r t y Bank of Mew York h a s merged w i t h t h e New York Trus t Company, New York, N. Y.

WITHDRAWAL:

The Fa i rv iew S t a t e Bank, F a i r v i e w , Kansas ,


THe F i r s t N a t i o n a l Bank ef D a m a r i s c o t t a , D a m a r i s c o t t a , Maine.


X-1530

FEDERAt RESERVE BOARD ANNOUNCEMENT BOB THE WEEK ENDING APRIL 8 , 1921.



DISTRICT NO. 4 .

Midland Bank, Cleveland, Ohio. $2,000,000 $400,000 $2*400,913

Bast P i t t s b u r g h Savings & Trust Company,

Bast P i t t s b u r g h , Pa. 125,000 175,000 3,837,606

DISTRICT HO. 5 .

Farmers Bank & Trust Co. f Winston-Salem, N. C. 250,000 - - 1 ,108,876

DISTRICT MO. 6.

C i t i z e n s Bank of Lake Wales, Lake Wales , F l o r i d a . 50,000 5,000 *55,000

DISTRICT MO. 9 .

Moccasin S t a t e Bank, Moccasin, Montana. 25,000 6,000 196,684


Marine BAnk of Nor fo lk , N o r f o l k , V i r g i n i a .


X-1520

FEDERAL EE SERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING APRIL 15, 1921


Tota l Cap i t a l Surplus Resources

DISTRICT NO. 6.

The Bank of Soper ton, Soper ton, Georgia, $25,000 $25,000 $319,666

WITHDRAWAL:

The Ekrmers S t a t e Bank, A l l e n , Nebraska.


The Na t iona l Bank of Cohoes, Cohoes, New York. F i r s t Na t iona l Bank of New Kensington, New Kensington, Penna. The Nor thern Na t iona l Bank of Duluth , Duluth, Minnesota . The F i r s t Na t iona l Bank of E v e l e t h , Eve l e th , Minnesota .


17

X-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING APRIL 22, 19&1,


Tota l Cap i t a l Surplus Resources

DISTRICT NO. 5 . ' Caro l ina Bank & Trust Co. ,

Henderson, N. C, #100,000 - - #417,276

DISTRICT NO. 6 . Douglasv i l l e Banking Co, ,

D o u g l a s v i l l e , Ga. 65,000 #45,000 560,960 Peoples Bank,

G r e e n v i l l e , Ga. 30,000 27,606 187,585

DISTRICT NO. 8 . Bank of Commerce,

E a r l e , Ark, 150,000 30,000 902,479

DISTRICT NO. 12 . E . G. Young & Co. Bank,

Oakland, Oregon. 50,000 15,000 753,002 The Bank of S t a n f i e l d ,

S t a n f i e l d , Oregon. 25,000 10,000 203,738 C i t i z e n s Savings Bank of

Pasadena , Cal . 300,000 32,100 2 ,867,161

AUTHORIZED TO ACCEPT DRAFTS AND BILLS OF EXCHANGE UP TO 100 PER CENT OF CAPITAL -AND SURPLUS:

The F i r s t Na t iona l Bank of I t t a b e n a , I t t a b e n a , M i s s i s s i p p i .


2-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING APRIL 29, 1921.

ADMITTED TO THE FEDERAL RESERVE SYSTEM; Tota l


DISTRICT NO. 9 . S e c u r i t y Savings Bank,

Rapid C i t y , South Dakota $50,000 $15,000 $524,620

DISTRICT NO. 11 . S t a t e Bank of Commerce,

Commerce, Texas 50,000 - - 273,111 S e c u r i t y S t a t e Bank,

Decatur , Texas 60,000 - - 137,457 F i r s t S t a t e Bank of P e r r i n ,

P e r r i n , Texas 25,000 12,500 184,722 F i r s t S t a t e Bank of Quinlan,

Quin lan , Texas 25,000 5,000 141,361

DISTRICT NO. 12. Eas t e rn Oregon Banking Company,

Shaniko, Oregon 50,000 10,000 299,265

CHANGE OF NAME: Long BBach Savings Bank and Trust Company, Long Beach, C a l i f o r n i a ,

t o Long Beach Trus t and Savings Bank.

CONVERSION: The Commercial Exchange Bank, New York, N. Y . , has conver ted in to

The Commercial Exchange Nat ional Bank.


The R i d d e l l Na t iona l Bank of B r a z i l , B r a z i l , I n d i a n a .


The P l a n t e r s Na t iona l Bank of F reder i cksburg , V i r g i n i a . Merchants and I l l i n o i s Nat ional Bank of P e o r i a , I l l i n o i s .


19

X-1520

EEDERSL RESERVE BOABB ANNOUNCEMENT FOR THE WEEK ENDING MY 6, 1921.

ADUIITED 7.0 213 FEirEPaL EBSESVS SYSTEM;

DISTRICT NO. 5. Farmers and Merchants Bank,

Walterfooro, S. C.

DISTRICT NO. 8. C i t i zens Bank of Tunica,

Tunica, M i s s i s s i p p i . Bank of Kenning,

Henning, Tennessee.

DISTRICT NO. 9. The Farmers S ta te Bank of

F u l l e r t o n , N, Dak. The C i t i zens S t a t e Bank of

New Ulm, M.rmesota.

DISTRICT NO. 11, Guaranty S t a t e Bank of

K i l l e e n , Toxas. The F i r s t S t a t e Bank of

Murchison, Texas.

DISTRICT NO. 12. Bank of Wasco,

Wasco, Oregon.

The Bank of Ami tyv t l l e , The Ki lgore S t a t e Bank,

Cap i t a l

#100,000

75,000

25,000

25,000

100 ,000

20,000

25,000

25,000

Surplus

#30,000

27,500

7,500

1,000

100,000

3,000

25,000

WITHDRAWALS; Ami tyv i l l e , New York. Ki lgore , Nebraska.

Total Be source '

#707,579

1,188,615

302,575

113,612

2,374,431

87,530

100,232

425,643

LIQUIDATIONS: Union Trus t & Savings Bank, Sioux C i t y , I@wa. Mountainair S t a t e Bank, Mountainair , New Mexico. The F i r s t S t a t e Bank, Colorado, Texas. The F i r s t S t a t e Bank, Henderson, Texas. Farmers Guaranty S ta t e Bank, J a c k s o n v i l l e , Texas.

PERMISSION GRANTED TO EXERCISE TRUST POWERS: The F i r s t Nat ional Bank of B l u e f i e l d , B l u e f i e l d , W. Va.


X-1530

FED3RAL RESERVE BOARD AKNOUNCEMENT FOE THE WEEK ENDING MAY 1 3 , 1 9 2 1 .

ADMITTED TO TEE FEDERAL RESERVE SYSTEM

Tota l C a p i t a l Surplus Resources

DISTRICT NO.6. Bank of Eastman,

Eastman, Georgia . # 0 , 0 0 0 #5,000 %> 267,700

DISTRICT NO.11. The F i r s t S t a t e Bank of

Emhouse, Texas. 30,000 20,000 153,923 The Yoakum S t a t e Bank,

Yoakum, Texas. 100,000 50,000 1,454,931

DISTRICT NO. 12. Albany S t a t e Bank,

Albany, Oregon. 50,000 10,000 793,956


The F i r s t Nat ional Bank of R o s e i l e , R o s e l l e , New J e r s e y . The f i r s t Nat ional Bank of Hominy, Hominy, Oklahoma.


X-1520

FEDERAL RESERVE BOARD ANNOUNCELIENT FOB THE WEEK ENDING MAY 20, 1921.


DISTRICT NO. 1 . Xnman Trus t Company,

Cambridge, Mass.

DISTRICT NO. 3. Northeast-Tacony Bank,

P h i l a d e l p h i a , Penna.

DISTRICT NO. 8 . Bank of Marvel1,

Marvel1, Arkansas .

DISTRICT NO. 11. Josephine S t a t e Bank,

Jo seph ine , Texas. The F i r s t S t a t e Bank of

S t ree tmsn, Texas.


$200,000 $50,569 $1,064,638

200,000

50 ,000

30,000

25,000

55,826

8,000

6,000

20,000

256,271

306,760

118,203

161,342

PERMISSION GRANTED TO EXERCISE TRUST POV/ERS:

The Sussex Na t iona l Bank of Newton, Newton, New J e r s e y . F l o r i d a Nat iona l Bank of J a c k s o n v i l l e , J a c k s o n v i l l e , F l o r i d a . The C a r l i n v i l l e Na t iona l Bank, C a r l i n v i l l e , I l l i n o i s .

AUTHORIZED TO ACCEPT DRAFTS AND BILLS OF EXCHANGE UP TO 100 PER CENT OF CAPITAL aND SURPLUS.

The F i r s t Na t iona l Bank, Br idgepor t , Connec t icu t .


22 F E D E R A L R E S E R V E B O A R D

WASHINGTON

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE 'WEEK ENDING MAY 27,1921.

ABUTTED TO THE FEDERAL RESERVE SYSTEM:

DISTRICT NO. 5 . Farmers Bank,

Belhaven, N. C. Bank of Lunenbu rg , Inc . ,

Keribridge, Va. Potomac V a l l e y Bank,

P e t e r s b u r g , W. Va,

DISTRICT MO. 6 . The Monroe County Bank,

M o n r o e v i l i e , A l a . Farmers & Merchants Bank,

G i r a r d , Ga. The Farmers & Merchants Bank,

McDonough, Ga.

DISTRICT NO. 6 . Bank of Waldron,

Waldron , Ark.

DISTRICT NO. 11. F i r s t S t a t e Bank of R ich l and ,

R i c h l a n d , Texas The F i r s t S t a t e Bank,

Teague, Texas The F i r s t S t a t e Bank of Wes t ,

W e s t , Texas

DISTRICT NO. 12 . W. G. J e n k i n s & Company,

Mackay, Idaho Farmers S t a t e Bank,

New Plymouth, Idaho Z i l l a h S t a t e Bank,

Z i l l a h , Wash.

C a p i t a l

#25,000

50,000

46 ,205

60,000

25,000

100,000

60,000 20,000

25,000

50,000

50,000

50,000

25,000

25,000

20,000

5,000

10,000

10,000

1,000

X-1520

Surp lus

#7,500

70,000

500

30,000

1,250

12,350

T o t a l Resources

#192,873

511,703

164,186

536,474

49 ,371

266,863

324,015

185,443

522,279

289,709

428,931

339,308

71 ,719


FEDERAL EESERVE BOABD ANNOUNCEMENT FOB THE, WEEK EJDING MAY 27,1921.

CONSOLIDATION:

The Oakland County Savings Bank, P o n t i a c , Michigan, has con-s o l i d a t e d w i th the Pont iac Commercial & Savings Bank, P o n t i a c , Mich-igan .


Commerce Guardian Trust & Savings Bank, Toledo, Ohio,


The Troy Na t iona l Bank, Troy, Ohio. The F i r s t Na t iona l Bank of E r i e , Pennsy lvan ia . The Keokuk Na t iona l Bank, Keokuk,Iowa.


X-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOR THE WEEK ENDING JUKE 3, 1921.

ADMITTED (TO THE FEDERAL RESERVE SYSTEM;


DISTRICT NO; 2 . The Claremont Bank of

J e r s e y C i t y , N. J . $200,000 $50,000 $5,517,836

DISTRICT NO. 5 . Palmet to Bank & Trust Co . ,

F lo rence , S. C. ' 100,000 17,000 658,318

DISTRICT NO. 6. The Bank of Zebulon,

Zebulon, Ga. 25,000 20,000 238,926

DISTRICT NO. 9 . The S t a t e Bank of Townsend,

Townsend, Mont. -100,000 10,000 671,067

DISTRICT NO. 11. The Caddo M i l l s S t a t e Bank,

Caddo M i l l s , Texas 30,000 21,000 187,726 The Guaranty S t a t e Bank of

Robstown, Texas 50,000 422,027 Wharton Bank & Trust Co. ,

Wharton, Texas 50,000 150,000 741,724


X-1530

FEDERAL RESERVE BOARD ANNOUNCEMENT FOB THE WEEK ENDING JUNE 10, 1921.


Capi ta l Surp lus Resources

DISTRICT NO. 6 . Bank of Dawson,

Dawson, Georgia . $100,000 $35,000 $365,471

DISTRICT NO. 7 . S t a t e Bank of Armstrong,

Armstrong, Iowa. 25,000 5,000 270,123

DISTRICT NO. 8 . Farmers S t a t e Bank,

Conway, Arkansas . 60,000 10,000 824,333

DISTRICT NO. 9. Mercan t i l e S t a t e Bank,

Minneapol is , Minnesota. 300,000 80,000 2,847,398

DISTRICT NO. 12. S e c u r i t y Bank & Trust Co. ,

San F r a n c i s c o , C a l i f o r n i a . 500,000 325,000 5,340,549

LIQUIDATIONS;

F i r s t Trus t & Savings Bank, Des Moines, Iowa. (Absorbed by Des Moines Nat iona l Bank.)


The Second Na t iona l Bank of P h i l a d e l p h i a a t F rankford , P h i l a d e l p h i a , The F i r s t Na t iona l Bank of B e l v i d e r e , B e l v i d e r e , I l l i n o i s , The F i r s t Na t iona l Bank of Fargo, Fargo, North Dakota, The F i r s t Na t iona l Bank of Mayfie ld Kentucky.


American Trus t Company, Boston, Massachuse t t s . The Ohio Na t iona l Bank of Columbus, Columbus, Ohio.


X-1530

FEDERAL EESERVE BOARD ANNOUNCEMENT FOB THE WEEK ENDING JUNE 17, 1921.

ADMITTED TO THE EEDERAL RESERVE SYSTEM:

Tota l Cap i t a l Surplus Pesourpes

DISTRIST NO. 6 .

P a r i s h Bank & Trust Company, "* Opelousas , Louis iana . $50,000 $10,000 $128,199

DISTRICT NO. 7 .

The American S t a t e Bank of Highland Pa rk , Michigan 200,000 50,000 2 ,112 ,445


Glynn County Bank, Brunswick, Georgia . (Absorbed by Brunswick Bank & Trust Co.)

CONVERSION:

The C i t i z e n s Bank, Hohenwald, Tennessee, has conver ted in to a n a t i o n a l bank.


The F i r s t Na t iona l Bank of Welch, Welch, West V i r g i n i a . The W i l l County Nat iona l Bank of J o l i e t , J o l i e t , I l l i n o i s .


X-1530

FEDERAL RESERVE BOARD AMOUNGEMBNT FDR THE WEEK ENDING JUNE 24, 1921.

ADMITTED TO THE FEDERAL EESERVE SYSTEM:

Total Capital Surplus Resources

DISTRICT MO. 6. The Royston Bank,

Royston, Georgia #60,000 $30,000 #416,097

DISTRICT NO. 7. Moorhead State Bank,

Moorhead, Iowa 30,000 30,000 456,242

DISTRICT HO. 8. Bank of Eastern Arkansas,

Forrest City, Ark. 50,000 50,000 743,126 Peoples Savings Bank & Trust Co.,

Pine Bluff , Ark. 100,000 . 50,000 1,075,115

LIQUIDATIONS:

Burley State Bank, Burley, Idaho Bank of Duchesne, Duchesne, Utah

AUTHORIZED TO ACCEPT DRAFTS AND BILLS OF EXCHANGE BP TO 100 PER CENT OF CAPITAL AND SURPLUS;

Brotherhood^) f Locomotive Engineers Co-operative National Bank of Cleveland, Cleveland, Ohio.

PERMISSION GRANTED TO 3XERCISB TRUST POWERS:

The, National Trust Bank of Paterson, Paterson, New Jersey The Nassau County National Bank of Rockville Center, New York The First National Bank of Waverly, Waverly, New York The Farmers National Bank of Sparta, Sparta, Wisconsin


FEDERAL RESERVE BOARD WASHINGTON

January 25, 1921. X-2010

Subject Expense Main Line, Leased Wire System, for the Month of December, 1$20,

Dear Sir:

Enclosed herewith you will find two mimeograph statements, X-2010a and X-Soidb, covering in detail operations of the main line, Leased Wire System, during the month of December, 1920.

Please deposit the amount payable by your Barik in the general account, Treasurer U. S., on your bocks, and issue C/D, Form 1, National Banks; for credit of "Salaries and Expenses, Federal Reserve Board, Special Fund", Leased Wire System, sending duplicate C/D to Federal Reserve Board.

Very truly yours,

Enclosures. Fiscal Agent.

To Governors of a l l F.R. Banks except Chicago.


X3010a

REPORT SHOWING CLASSIFICATION AND NUMBER OF WORDS TRANSMITTED OVER MAIN LINE OF THE FEDERAL RESERVE LEASED WIRE SYSTEM FOR THE MONTH OF DECEMBER 1920.

From Per cent of Total Bank

Bank Business Busine

Boston 54,376 3-48 New York 207,779 13.30 Philadelphia 58,785 3.76 Cleveland 117,320 7.51 Richmond 112,377 7.19 Atlanta 139,054 8.9O Chicago 211,975 13.57 St. Louis 112,979 7-23 Minneapolis 63,921 4.09 Kansas City 143,443 ' 9.18 Dallas 119,479 7.65 San Francisco 220,880 l 4 . i 4

Fiscal Agency Business

War Finance Corp. Business

To t a l

Total F.R; Banks 1562,3 68

Washington 281.547

Grand Total 1,843,915

Percent of Total 83.1+5

100.00^

8,150 36,792

6,359 16,516

4,511 14,017 12,787 6,770 7,626

11,120 5,940

36,577

167,165 198,329.

365,494

16.54

78 0

78 i6l_

239

.01

62 , 526 244,571

65,144 133,836 116,888 153,071 224,762 119,749

71,547 154,563 125,497 257.457,.,,

1,729,611 430.017

2,209,648

Bank Business 1,843,915 words or 83-* ^ Fiscal Agency Business ?65.4A4 " w 16.54*^

Total 2,209,409 100.00^

(*) These percentages used i n c a l c u l a t i n g t he pro r a t a share of l e a sed wire expense as shown on the accompanying statement (X-20l0b).

FEDERAL RESERVE BOARD

WASHINGTON

January 2$y 1921.


o CO ,

RSPOR? OF EXPENSE MAIN LINE

FEDERAL RESERVE LEASED WIRE SYSTEM DECEMBER, 1920. X-201Gb

Pro r a t a Share of Payable to

Operators' Operators ' Extra Wire Total Total ' Federal Reserve Name of Bark" Sa lar ies Overtime Compensation Rental Expense Expense Credits Board

Boston $ 220.00 1.00 396.00 617.00 709.65 617.00 92,65 New York 720.00 - 406.04 - 1,126.04 2,712.17 1,126.04 1,586,13 Phi ladelphia 225.OO - 202.50 - 427.50 766.75 427.50 339.25 Cleveland 500,00 - 197.50 697.50 1,531.46 697.50 833.96 Richmond 287.50 - 403.10 (*)50,00 740.60 1,466.20 740.60 725.60 Atlanta 240.00 - 291.75 531.75 1,814.91 531.75 1,283.16 Chicago (#)4,1S9.12 10.00 (##)l83i.24 * 6,032.36 2,767.23 6,032.36 3,265.13(**) St. Louis 250.00 - 531.00 781.00 1,474.36 781.00 693.36 Minneapolis 25S.34 - 342.50 - 600,84 834.04 600.84 233.20 K s i s as City 200.00 - 351.00 - 551.00 1,872.01 551.00 1,321.01 J a i l as 150.00 - 75.00 - 225.00 1,560.01 225.00 1,335.01 San Franciscc > 175-00 - 180.00 - 355.00 2,883.46 355.00 2,528.46

Fed. Res. Board 7,708.5s 7,708.5s

Total 7,4I4.96 11.00 5,209.63 7,758.52 20 ,394 .17 x 20,392.25 12,685.59 10,971.79 v 7,4I4.96 I.q2(&) .1 ,265 ,13(A)

20,392.25 7,706.66 (M)Includes ex t r a compensation Washington Operators. (#)' Includes s a l a r i e s Washington operators *) Cut-in a t Washington on Richmond-Baltimore c i r c u i t . v * * ) C r e d i t (A) Amount reimb'ir sable to Chicago {&) Received from War Finance Corporation covering business fo r month of November.


January 25-, 1921.



X-2010 February 1$, 1921.

Subject: Expense Main Line, leased Wire System, fo r the Month of January, 1921.

Dear S i r :

Enclosed herewith you wi l l find two mimeograph statements, X-2010a and X-2010b, covering in d e t a i l operations of the main l ine . Leased Wire System, during the month of January, 1921.

Please deposit the amount payable by your Bank in the general account, Treasurer, U 8 . , on your books, and issue C/D, Form 1, National Banks, for c red i t of "Salaries and Expenses, Federal Reserve Board, Special Fund", Leased Wire System, sending duplicate C/D to Federal Reserve Board.

Very t ru ly yours,

Enclosures. F iscal Agent.

To Governors of a l l F.R.Banks except Chicago.


X-2010a

REPORT SWING CLASSIFICATION AND NUMBER OF WORDS TRANSMITTED OVER MAIN I, INF OF T'HE FEDERAL RESERVE

LEASED "IRE SYSTEM FOR ^HE MON^ H OF JANUARY 121.

From

Bank Business

Per cent of Total Bank Business (*)

Fiscal Agency-Business


Total

Boston New York Philadelphia Cleveland. Richmond Atlanta Chicago St . Louis Minneapolis Kansas City Dallas San Francisco

' *e>i53 194,038 54,823

108,004 103,758 164,825 197,966 107,571 54,615

114,480 113,475 189,551

Total F.R. Banks

Washington 1,452,259

262.558

3-38 13.36 3.78 7.44 7.15

11.35 13.63 7.41 3.76 7.88 7.81

. 13.05

100.oc$

Grand Total 1,714,817

Percent of Total 85.33

7,558 33,667

6,155 15,766 3,325

15,704 l4 , l4o 5,636 8,658 8,489 5,441

17.852

142,391 150.664

293.055

14.58

Bank Business 1,714,817 words or 85,40$ Fiscal Agency Business 293.055 " " 14.60

Total 2,007,872 100.00$

(*) These percentages used in calculating the pro ra ta share of leased wire expense as shown on the accompanying statement (X-2010b)

227

75

257

559 1.207

1,766

.09

56,711 227,932

60,978 123,770 107,083 180,6o4 212,106 113,207

63,573 122,9 b9 119,173 201*401

1,595,209 414.429

2,009,638


WASHINGTON

February 19, 1921.


CO CD

REPORT OF EXPENSE MAIN LINE

FEDERAL RESERVE TEASED WIRE SYSTEM JANUARY, 1921. X-20i0b

Pro rata Share of Payable to

Operators1 Operators1 Wire Total Total Federal Reserve Name of Bank Sa la r i e s Overtime Rental Expense Expense Credi t s Board

Bos ton $ 240.00 $ New York 7C0.00 -Phi lade lph ia 225,00 - -Cleveland 500.00 Richmond 295.00 - (*)50.00 Atlanta 240,00 Wk Chicago (#)4,514.58 3.00 mm St Louis 300.00 - * -Minneapolis 258.34 mm w Eonsas City 215.00 2 .67 Dallas 166.66 7 .75 San Francisco 215.00 -

Fed. Res. Board 7 , 0 3 , 6 3

240.00 $ 528.04 $ 240.00 $ 288.04 700,00 2,087.14 700.00 1,387.14 225.00 590.52 225,00 365.52 500.00 1,162,30 500.00 662,30 345.00 1,117.00 345.00 772.00 2%0.00 1 ,773 .13 240.00 1,533.13 517.58 2 ,129.32 4,517.58 2,383.26 300.00 1,157.61 300,00 857,61 258.34 587.40 258.34 329^06 217:67 1,231 .04 217.67 1,013.37 174.41 1,220,10 174.41 1,045.69 215.00 2,038.71 215.00 1,823,71

693.63 T o t a l $7 ,869 .58 #13 .42 $7 ,743.63 4 1 5 , 6 2 6 . 6 3 | 15,622.31 #7,933*00 # 10,077.57

2.388,26(A) $ 15,622.31 $ 7,689.31

(#) Includes s a l a r i e s Washington operators (*) Cut-in a t Washington on Richmond-Baltimore c i r c u i t (**) Cred i t . (A) Amount reimbursable to Chicago (*) Received from War Finance Corporation covering business f o r month of December.


February 1 9 , 1 9 2 1 .



X-2010 March l 6 , 1921.

S u b j e c t : Expense Main Line , Leased Wire System, f o r t h e Month of Februa ry , 1921.

Dear S i r :

Enclosed he r ewi th you w i l l f i n d two mimeograph s t a t e m e n t s , X-2010a and X-2010b, cover ing in d e t a i l o p e r a t i o n s of the main l i n e , Leased Wire System, d u r i n g the month of February , 1921.

P l e a s e d e p o s i t the amount payable by your Bank in the g e n e r a l a ccoun t , T r e a s u r e r , U, S . , on your books, and i s s u e c / D , Form 1, N a t i o n a l Banks, f o r c r e d i t of " S a l a r i e s and Expenses, F e d e r a l Reserve Board, S p e c i a l Fund", Leased Wire System, sending d u p l i c a t e C/D t o F e d e r a l Reserve Board.

Very t r u l y your s ,

Enclosures F i s c a l Agent

TO GOVERNORS OF ALL F . R . I W K S EXCEPT CHICAGO.


X-2010a

REPORT SHOWING- CLASSIFICATION AND NUMBER OF WORDS TRANSMITTED OVER MAIN LINE OF TtrE FEDERAL RESERVE

LEASED WIRE SYS~'F" FOR ^HE MONTH OF FEBRUARY 1921,

From

Bank Business

Per cent of Tota l Bank Business (*)

F i s c a l Agency Bus ine ss


Tota l

Boston New York Ph i l ade lph ia Cleveland Richmond Atlanta Chicago S t . Louis Minneapolis Kansas City Dallas San Francisco

44,351 179,858

48,24? 94,264 S t , 632

140,135 167,706 25,113 46,867 89,665 85,226

156,288

Total F.R. Banks


252,317

Grand Total 1,487,6(^9

Percent of Tota l 89.00

Bank Business 1,487,669 words or 89.03^ F i sca l Agency Business 183.358 " w 10,97

3-59 5,923 14.56 21,124 96 3 .91 5,272 7.63 11,196 7.09 4,089 28

11/54 9,644 13-58 5,933

7-70 3,752 3-79 4,230 7-26 5,446 6.90 3,011 92

12.65 10.119

100.00^ 89,739 216 93,619 326

183,358 542

10,97 -03

Total 1,671,027 100.0C$

(*) These percentages used i n c a l c u l a t i n g the pro r a t a share of leased wire expense as shown on the accompanying statement (X-2010h)

50,274 201,078

53,519 105,460 91,749

149,779 173,639 98,865 51,097 9 5 , H l 88,329

166,407

1,325,307 146.262

1,671,569


WASHINGTON

March l6 , 1921.


CO * CD ,

REPORT OF EXPENSE $-2010b MAIN LIME

FEDERAL RESERVE LEASED WIRE SYSTEM FEBRUARY, 1921.

Pro r a t a Payable to Share of F e d e r a l Reserve

Opera tors 1 O p e r a t o r s ' Wire T o t a l T o t a l Board Name of Bank S a l a r i e s Overtime Ren ta l Expense Expense Cred i t s

Boston $ 240,00 $ $ - $ 240.00 $ 574.09 $ 240.00 $ 334.09 New York 692.33 20 .00 - 712.33 2 , 3 2 8 , 3 6 712.33 1 ,616.03 P h i l a d e l p h i a 225 ,00 - - 225.00 625.27 225,00 400.27 Cleveland 500.00 - 500.00 1 ,220 .15 500.00 720.15 Richmond 300.00 - ( * ) 5 0 . 0 0 350.00 1,133-80 350.00 783-80 A t l a n t a 240 ,00 - - 240.00 1 ,813 ,44 240.00 1 ,573.44 Chicago < # ) 4 , 6 4 0 . 3 4 - - 4,640.34 2 ,171 .65 4,640 .34 2 ,468.69(**) S t . Louis 300.00 - - 300.00 1 ,231 ,35 300.00 931-35 Minneapol is 258 .34 - - 258.34 606 ,08 258.34 . 347.74 Kansas Ci ty 320.00 - - 320.00 1,160 .98 320.00 840.98 Dal las 166.66 197 - 168.63 1103.4l 168.63 934.78 San F r a n c i s c o 215-00 - 215,00 2 ,022 .93 215.00 U 0 7 , 9 3

Fed. Res Board 7 ,846 .58 7 ,846 .58

T o t a l $8,097*67 $21.97 $ 7 ,896 .58 $16,016-22 $15 ,991 .51 *8,169.64 $10,290.56

, 2 U , I i i l ) 2,466.69(A) $15,991-51 $ 7,821.87

(#) Inc ludes s a l a r i e s Washington ope ra to r s (*) C u t - i n a t Washington on Richmond-Baitirrore c i r c u i t (**) C r e d i t (A) Amount re imbursable to Chicago. (&) Received from War Finance Corpora t ion cove r ing bus iness f o r month of January.


March 16, 1921.



X-2010 A p r i l 19, 1921.

S u b j e c t : Expense Main Line , Leased Wire System, f o r t h e Month of March, 1921.

Dear S i r :

Enclosed he rewi th you w i l l f i n d two mimeograph s t a t e m e n t s X-2010a and X-2010b, cover ing i n d e t a i l o p e r a t i o n s of the main l i n e , Leased v?ire System, dur ing the month of March, 1921.

P l ea se d e p o s i t the amount payable by your Bank i n the genera l accoun t , T r e a s u r e r , U. S . , on your books, and i s s u e C/D, Form 1, Na t i ona l Ba;Hrs: f o r c r e d i t of " S a l a r i e s and Expenses , F e d e r a l Be serve Board, Spec ia l Fund", Leased Wire System, sending d u p l i c a t e c /D to Fede ra l Heserve Board.

Very t r u l y your s ,

E n c l o s u r e s . F i s c a l Agent .

TO GOVERNORS OF ALL F.R.BANKS EXCEPT CFICAGO.


88

X-2010a

REPORT SHOEING CLASSIFICATION AND NUMBER OF WORDS TRANSMITTED OVER MAIN LINE OF THE FEDERAL RESERVE

LEASED WIRE SYSTEM FOR THE MONTH OF MARCH, 1921.

From Per cent of F i s c a l War Total Bank Agency Finance Corp.

Bank Business Business (*) Business Business

Boston 46,745 3 .44 7,057 New York 206,827 15.22 19,715 76 P h i l a d e l p h i a 55,247 4.07 8,294 Cleveland 101,501 7.47 19,498 Richmond 90,456 6.65 3 ,494 At l an ta 121,567 8.94 18,111 Chicago 210,372 15.48 4 ,651 S t . Louis 107,922 7.94 5,519 Minneapolis 47,794 3 .52 6,487 Kansas City 100,959 7.43 10,531 Dal las 89,156 6.56 6,258 San Franc isco 180,541 13-28 19,861

Total F.R. Banks 1,399,087 100.00$ 129,476 76

Washington 319,007 125,159 688

Grand Total 1,678,094 254,635 764

"Percent of Tota l 86.79 13.17 .04

Bank Business 1,678,094 words or 86.83%

Total

F i s c a l Agency Business 254,635

Tota l 1,932,729

13.17

100,oof

(*) These pe rcen tages u s e d ' i n c a l c u l a t i n g the pro r a t a share of l e a s e d wire expense as shown on the accompanying s ta tement (7-010b)

53,802 226,618

63,541 120,999

93,950 139,678 215,023 113,441

54,281 111,490

95,414 200,402

1,488,639 444.854

1,933,493


, WASHINGTON

Apr i l 19, 1921.


G> ' * CO '

EEPOET OF EXPENSE-MAIN LINE

FEDERAL EESERVE LEASED WIRE SYSTEM MARCH,

X-2010fc

1921.

Ext ra Opera tors ' Opera to rs ' compen-' Wire

Name of Bank S a l a r i e s Overtime s a t i o n Renta l

Boston $ 240.00 $ - $ $ New York 868.30 ' - 402.75 -P h i l a d e l p h i a 225,00 - -Cleveland 500.00 - igg .oo -Richmond 300,00 - (*)50.oo A t l a n t a 240.00 - - -Chicago (#)4 ,659 .54 - - -S t . Louis 300.00 - -.Minneapolis 258.34 - - -Kansas C i ty 290.00 - - -Dal las 166.66 - -San Franc i sco 215.00 - -

Fed. Res. Board ,7 ,834.63

To ta l $8,262.S4 $ .85 $ 600.75 $7,884.63

Total Expense

Pro r a t a Share of Total Expense C r e d i t s

Payable to Federa l Reserv Board

240.00 1,271.05

225.00 658.OO 350.00 240.00

4,659.54 300.00 258.34 290.00 167.51 215.00

7,834.63

$ 575-82 2,547.67

681.28 1,250.40 1,113.14 1,496.46 2,591.19 1.329.07

529.21 1,243.71 1.098.08 2,222.94

$ 2i|0.00 1 ,271.05

225.00 698.00 350.00 240.00

4 ,659 .54 300.00 258.34 290.00 167.51 215.00

335-82 1,276.62

456.28 552.40 763.14

1,256.46 2,o6s.35(* 1,029.07

330.87 953.71 930.57

2 ,007.94

$8,914.44

10.10(&) $16,738.97

(#) Inc ludes s a l a r i e s Washington ope ra to r s (*) C u t - i n a t Washington on Richmond-Baltimore c i r c u i t (**) Cred i t (A) Amount reimbursable to Chicago (&) Received from War Finance Corporat ion cover ing bus ines s fo r month of February.


$9,892.88

2.068.35(A, $7,824.53

Apr i l 19, 1921.



1-2010 May 11, 1921.

S u b j e c t : Expense Main Line, Leased Wire System, f o r t h e Month of A p r i l , 1$21.

Dear S i r :

Enclosed he rewi th you w i l l f i n d two mimeograph s t a t e m e n t s X-201C& and X-201Cb, cover ing i n d e t a i l o p e r a t i o n s of t h e main l i n e , Leased Wire System, d u r i n g t h e month of A p r i l , 1921.

P l e a s e d e p o s i t t h e amount payab le by your Bank i n t h e gene ra l a ccoun t , T reasu re r , U. S . , on your books, and i s s u e C/D, Form 1, m t i o n a l Banks, f o r c r e d i t of " S a l a r i e s and Expenses, Federa l Reserve Board, Spec ia l Fund", Leased Wire System, sending d u p l i c a t e C/D t o Federa l Reserve Board.

Very t r u l y yours ,

E n c l o s u r e s . F i s c a l Agent,

TO GOVERNORS OF ALL F.R.BANKS EXCEPT CHICAGO,


X-201C&

REPORT SHOWING CLASSIFICATION 4ND NUMBER OF WORDS TRANSMITTED OVER MAIN LIKE OF THE FEDERAL RESERVE LEASED WIRE SYSTEM FOR THE MONTH OF APRIL, 1921.

From

Bank Business

Per cent of Total Bank Business (*)

F i sca l Agency-Business

War Finance Corp, Business

Total

Boston 47,223 3 ,82 5,269 New York 188,265 15.23 17,CIS Ph i lade lph ia 51360 4-15 7,990 Cleveland 97,078 7.85 . 13,530 Richmond 80,152 6 .48 2,684 At lan ta 167,275 13.53 9,593 Chi cago 151,642 12.26 3 ,265 S t . Louis 88,653 7.17 4,271 Minneapolis 41,756 3 .38 4 ,103 Kansas City 95,933 7.76 5,429 Dal las 75,904 6 .14 3,&69 San Francisco 151,187 12.23 11 f b'lo

Total F.R. Banks 1. ,236,428 100.00 87,972

Washington 2QQ.828 86,512 50

Grand Total 1 ,536,256 174,484 50

Percent of Total 89*798 10.199 .003

Bank Business 1,536,256 words or 89.80 F i sca l Agency Business 174.484 " " 10 .20

52,492 205,283

59,350 110,608

82, 836 176,868 154,907

92,924 45,864

101,362 79,073

162,83.?

1 ,324 ,400 186,390

1 ,710,790

Total 1 ,710,740 100.00%

(*) These pe rcen tages used in c a l c u l a t i n g the pro r a t a share of l e a s e d wire expense a s shown on the accompanying s ta tement (X-3010b).


WASHINGTON

May 17, 1921*


REPORT OF EXPENSE MAIN LINE

FEDERAL RESERVE LEASED WIRE SYSTEM APRIL, 1321 .

X-2010b

Pro r a t a Share of Payable t o

O p e r a t o r s ' Opera to r s ' Wire Total Tota l Federal Reserve Name of Bank S a l a r i e s Overtime Renta l Expense Expense C r e d i t s Board

Boston $ 240.00 $ $ - $ 240.00 $ 625.26 $ 240.00 $ 385,26 New York 889.30 - 889.30 2 ,492 ,86 889,30 1 ,603 .56 P h i l a d e l p h i a 225,00 225.00 679.28 225.00 454.28 Cleveland 508.00 w 508.00 1 , 2 8 4 . 9 0 508.00 776,90 Ri cfcmond 300,00 l*)50 ,oo 350.00 1 , 0 6 0 . 6 5 350 .00 710.65 A t l a n t a 240,00 240.00 2 ,214 .61 240,00 1 ,974 .61 Chicago (#>4,858.22 ~ - 4, 858,22 2 ,006 ,73 4 ,858 .22 (**)2, 851.49 S t . Louis 300 ,00 300.00 1 ,173 .59 300.00 873.59 Minneapol is 258.34 258.34 553.24 258.34 294.90 Kansas City- 290.00 290.00 1 ,270 .17 290.00 980,17 D a l l a s l 6 6 , b 6 .28 166,04 1 , 0 0 5 , 0 0 166,94 838.06 San Franc i sco 215.00 - - 215,00 2, 001,82 215.00 1 ,786 ,82

Fed. Res. Boar d 7,834.63 7 ,834.63

To1y,l $8 ,490 ,52 $ .28 $7,-884,63 $16,375.43 $ I 6 , 3 6 8 , U V$8,540,80 $10,678,80

7.32(&) $16,368,11

2 , 8 5 1 ^ 4 0 ^ 1 $ 7 ,827 .31

(#) I nc ludes s a l a r i e s Washington o p e r a t o r s . (*) Cu t - i n a t Washington on Richmond-Baltimore c i r c u i t . (**) Cred i t (A) Amount re imbursable t o Chicago (&) Received from War Finance Corpora t ion cover ing b u s i n e s s f o r month of March,


May 17, 1921,



X-2010 June l 6 , 3.921*

Subject: Expense Main Line, Leased Wire System, for the Month of May, 1921-

Dear Sir:

Enclosed herewith you will find two mimeograph statements X-20106. and X-2010b, covering in detail operations of the main l ine, Leased Wire System, during the month of May, 1921.

Please deposit the amount payable by your Bank in the general account, Treasurer U. S., on your books, and issue C/D Form 1, National Banks, for credit of "Salaries and Expenses, Federal Reserve Board, Special Hund", Leased Wire System, sending duplicate C/D to Federal Reserve Board.

Very truly yours,

Enclosures. Fiscal Agent.

TO GOVERNORS OF ALL FJR.BJWK5 EXCEPT CHICAGO.


X-2010a

REPORT SHOWING CLASSIFICATION AMD NU**ER OF WORDS TRANSMITTED OVER MAIN LINE OF THE FEDERAL RESERVE

LEASED WIRE SYSTEM FOR THE MONTH OF MAY, 1921.

From

Bank Business

"Per cent of Total Bank Business (*)

F i s c a l Agency Business


Total-

Boston 43,414 3 .86 New York 156,475 13.91 P h i l a d e l p h i a 48,9^9 4.35 Cleveland 95,880 8.52 Richmond 70,492 6*27 ' At lan ta 150,320 13.36 Chicago 133 , 658 H i 88 S t . Louis 82,375 7.32 Minneapolis 4o ,4 i9 3*59 Kansas City 90,739 8.07 Dal las 75,299 6.69 San Francisco 136,950 12.18

To ta l F-R. Banks


278.940 100.00

Grand To ta l 1,403,930

Percent of Tota l 89*22

Bank Business F i s c a l Agency Business

Tota l - - - - - - - -

5,149 13,622 2,107

10,485 2,777

11,579 3,430 4,086 3,459 5,936 2,976

10.245

75,851 92.106

167,957

10.67

1,403,930 words or 89

REPORT OF EXPENSE MAIN LINE X-2010b

FEDERAL RESERVE LEASED WIRE SYSTEM MAY, 1921.

Pro r a t a Payable t o Share of Federa l Reserve

Opera tors 1 Operators 1 Wire T o t a l T o t a l Board Name of Bank S a l a r i e s Overtime Renta l Expense Expense C r e d i t s

Boston $ 240.00 $ - $ A 240.00 $ 640.69 $ 240.00 $ 400.69 New York 942.97 111,00 - .1 ,053-97 2 ,308 .79 1 ,053.97 1,254,82 P h i l a d e l p h i a 225 .00 - 225.00 722.02 225,00 497.02 Cleveland 508.00 508.00 I , 4 i 4 . l 6 50s.CO 906 .16 Richmond 300.00 (*) 50.00 350.00 1 ,040.70 350.00 690.70 A t l a n t a 240.00 - 240.00 2 ,217 .50 240.00 1 ,977.50 Chicago ( # ) 4 , 9 i 4 . 5 i - - 4,914 .51 1 ,971 .85 4 ,914 .51 (**>2,942.66 S t . Louis 300.00 - - 300 .00 1 ,214 .98 300,00 914.98 Minneapol is 258.34 - - 258.34 595-87 258.34 337.53 Kansas Ci ty 290.00 2,50 292-50 1 , 3 3 9 . 4 6 292.50 1 ,046 .96 D a l l a s 166,66 - * .16 6 .66 1 ,110 .41 166.66 943.75 San Franc i sco 215.CO - 215.00 2 ,021 .64 215.00 1 ,806.64

Fed. Res . Board 7 ,834 ,63 7 ,834 .63

T o t a l $ 8 , 6 0 0 . 4 8 $113-50 $ 7 , 8 8 4 . 6 3 $ 16,598.61 $ 16,598.07 $ 8 ,763,98 $ 10,776.75

.54(4) 2.942.66(A) $16 ,598 .07 $ 7 ,834,09

() Includes s a l a r i e s Washington opera to r s (*) Cut - in a t Washington on Richmond-Baltimore c i r c u i t . (**) Cred i t (A) Amount re imbursable to Chicago (%) Received from War Finance Corporat ion cover ing b u s i n e s s f o r month of A p r i l .


June 16, 1921.



X-30C6

January 17, 1921.

SUBJECT: Report of Leased Wire Opera t ions .

Dear S i r :

In o r d e r t o s i m p l i f y the r e p o r t s f u r n i s h e d t h e Board

i n connec t ion w i t h t h e o p e r a t i o n of the Federal Reserve Leased

Wire System, i t has been decided t o e l i m i n a t e c e r t a i n i t ems

a p p e a r i n g on form X-l6S2a and t o c o n s o l i d a t e t h e r emain ing i tems

w i t h t hose a p p e a r i n g on form X-I962.

There a r e be ing forwarded you under s e p a r a t e cover

today 50 c o p i e s of t h e new form X-30C6a, and i t i s r e q u e s t e d

t h a t i t be used beg inn ing w i t h your r e p o r t cove r ing o p e r a t i o n s

d u r i n g t h e month of January , 1921-

Very t r u l y yours ,

R. G. Emerso#, A s s i s t a n t t o Governor.

To t h e Chairmen of a l l Federa l Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE BANK OF

X-3CO6a

To Federa l Reserve Board:

A. Report of expenses chargeable to and bus iness t r a n s m i t t e d over Main Lings-Federal Reserve Leased Wire Systern f o r month of 19 :

1. Expenses - S a l a r i e s of Main Line Operators :

S a l a r i e s Overtime Tota l

$ $ $

2 . Number of ires sages SENT over Main Line by the Head Of f i ce and Branches, and the number of words conta ined t h e r e i n :

BMK FISCAL AGENCY WAR FINANCE CORP r -

TOTAL

Head Off ice

Branch

No.Msgs. No.Words No.Msg. s . No.Words No r'sgs . ; No.Words No.Msgs.:

Head Off ice

Branch 1

Branch

Branch

Branch

Branch

Branch

Branch

Branch

Branch

Branch

Branch

Total

3.. Number Messages rece ived


48

- 2 -

B.

X-3Q06a

Re-port of expenses chargeable t o and bus iness t r a n s m i t t e d over Branch L ines . Federal Reserve Leased Wire System f o r Month of 19

1. Expenses:

Wire Rental

Operators 1 S a l a r i e s

Bead o f f i c e ex-pense charge able to b ran wire l i n e s

: Branch : Branch : Branch : : Branch : : Branch: : To ta l

i :

Tota l

2- Number of messages and words t r ansmi t t ed by head o f f i c e t o branch o f f i c e s , and by branch o f f i c e s to head o f f i c e and o ther branch o f f i c e s on INTRA-DISTRICT bus iness ONLY:

(a ) By head o f f i c e t o b ranches :

Head Of f i ce t o :

Branch.

Branch.

JB ranch.

Branch -

Branch.

No-Msgs: No .Words:

T o t a l .


-3-

X-3X)6a '(b) By branches to head off ice

and other branches:

I ! 1 1 ' | | Bead Office t Branch { Branch i i Branch

1 Branch i ' ! Branch

! ; Total

Branch Bank!No, of f l i ses . i

No. |No. Words iMses.

No. No. Words {Uses.

No. Words

No. MSRS.

NO. Words

No. MSGS.

No.. Words

No. Mscrs

No. S? iQT'd

No. M olffQ

No. Wo fdi 51

1 ;

_ _ L _

1 - -JT,.,Y.TSL

i i ; L

1

! I I i \ 1 ! L _ i 1 Total f ? J L _ _ j, t .


X-3 0C6a ;/a'"

j,. 50

3 Number .of messages and words t r a n s m i t t e d by head o f f i c e t o branch o f f i c e s , and by branch o f f i c e s t o head o f f i c e on INTERDISTRICT b u s i n e s s ONLY:

(a) By head o f f i c e t o branches :

Head O f f i c e t o :

Branch . . . .

No.Msgs. No.Words : ;

Branch . . . .

Branch

Branch . . . .

Branch . . . .

Total

(b) By branches t o head o f f i c e :

Branch . . .

Head O f f i c e

Branch . . .

.No. MsRs No.Words

Branch . . .

Branch

Branch

Branch

-n r / i

Total


X-3006;

Statement of wire t r a n s f e r s of. funds h. 11 ed bz Head Of f i ce and Branches, exc lus ive of Treasury t r a n s f e r s , over Federal Beserve Leased Wire System, f or month of 1Q .

1. Total number of t r a n s f e r s

2. Total amount of t r a n s f e r s ( In thousands of d o l l a r s ) j |

3- Number of member banks mak-ing wi re t r a n s f e r s dur ing month

ft. Subdivis ion showing amount t r a n s f e r r e d t o each Federal Reserve Bank ( i n c l u d i n g t h e i r Branches) :

Amount (In thousands of F.R. Bank of d o l l a r s )

1.

2.

3

4.

5-

6.

7

5.

9-

10 .

1 1 .

Boston

Kdw ? ork __

P h i l a d e l p h i a

Cleveland

Richmond

At lan ta _

Chicago _

S t . Louis _

Minneapolis

Kansas City __

Da l l a s

1 2 . San Franc isco


X-3006a

NOTES:

Include in s a l a r y account , under paragraph A, subd iv i s ion 1, ONLY s a l a r i e s paid ope ra to r s handl ing MAIN LINE WIRE. Do NOT in -clude s a l a r i e s pa id opera to r s handl ing Branch w i r e s , e i t h e r a t Head Of f i ce or Branches, which in format ion should he shown under paragraph B, subd iv i s i on 1.

In r e p o r t i n g number of messages s e n t , and words con ta ined t h e r e i n , under paragraph A, subd iv i s ion 2 , include a l l messages or -i g i n a t i n g a t your Of f i ce or Brr-^hes de s t i ned to pnoth^r Federa l Reserve Bank, i t s Branches or Washington. I temize i n p r o p e r accounts as shown above. If no such messages were t r a n s m i t t e d by any one Branch o f f i c e , so s t a t e .

In r e p o r t i n g number of messages rece ived , under pa ragraph A, subd iv i s i on ) , inc lude a l l messages from another F e d e r a l Reserve Bank, i t s Branches or Washington, de s t i ned to your Head O f f i c e or Branch Banks.

Do NOT inc lude i n your f i g u r e s , under paragraph A, subd iv i -s ions 2 and 3 i messages o r i g i n a t i n g a t your Head O f f i c e and. t e r m i n a t -ing a t your Branch Banks or v ice v e r s a . These messages should be shown under paragraph B, subd iv i s ion 2 (a ) or 2 ( b ) .

T h i l e d a t a c a l l e d f o r i.i paragraph B, snbdivir .Ions 3 (a ) and (b) i s included i n paragraph A, subd iv i s ions 2 and 3 , i t i s d e s i r e d t h a t i t be compiled and repor ted s e p a r a t e l y f o r the informa-t i o n of the Board.

In a d d i t i o n t o r e p o r t i n g , under paragraph A, s u b d i v i s i o n 2 , number of messages s e n t , and words conta ined t h e r e i n , which p e r t a i n t o War Finance Corpora t ion b u s i n e s s , p l ea se forward as soon as p o s s i b l e to the Federa l Reserve Board d u p l i c a t e i temized s ta tement wi th one copy of each message s e n t .

By ;

T i t l e

Date .19


X-3008 F E D E R A L R E S E R V E B O A R D

STATEMENT FOR THE PRESS ' F,> For r e l e a s e i n Monday morning pape r s ,

January 3, 1$21.

The fo l lowing i s a review of genera l bus ines s and f i n a n c i a l cond i t ions throughout the severa l Federal Reserve D i s t r i c t s dur ing the month of December, a s contained in the forthcoming i s sue of the Federal Reserve B u l l e t i n .

Fur ther p rog re s s i n bus iness read jus tment has been t h e c h a r a c t e r i s t i c

f e a t u r e of commercial and i n d u s t r i a l development dur ing the month of

December, Such readjus tment has been accompanied by a f u r t h e r

dec l ine of p r i c e s , which has brought the l e v e l shown by t h e Board ' s

index number to 190 per cent of tns l e v e l of 1913 ( a dec l ine f o r the

month of about 8-g per c e n t ) . An inc rea se of unemployment growing out

of r educ t i ons of bus iness a c t i v i t y , which have cut opera t ions to f i g u r e s

va ry ing from 40 per cent t o 75 per cent of normal, has a f f e c t e d l abo r

unfavorab ly . Wage cu ts running a s high a s 20 per cent to 25 pe r cent

i n some' l i n e s have accompanied the shrinkage of demand, and the re has

been a f a l l i n g off of export t r a d e . On the o the r hand, banking power

has been wel l mainta ined, normal c r e d i t accommodation has been extended

to l e g i t i m a t e bus iness , the rese rve r a t i o has grown s t r o n g e r , and

i n t e r r e s e r v e bank borrowing has been i n p a r t l i q u i d a t e d . At t h e member

banks l i q u i d a t i o n - o f " loans i s beginning and b e t t e r cond i t i ons a r e f o r e -

shadowed. '

: From D i s t r i c t No. 1 (Boston) i t i s r epo r t ed t h a t t he l i q u i d a t i o n

in commodities, whi le d r a s t i c , has been on, the whole o r d e r l y , r e g u l a r

demands f o r c r e d i t have been gran ted , and the banking s i t u a t i o n i s

s t r o n g e r .

From D i s t r i c t No. 2 (New York) i t i s r epo r t ed t h a t money r a t e s have

grown e a s i e r , wholesale p r i c e d e c l i n e s have been the sha rpes t of the

p r e s e n t movement, manufactur ing i s i n reduced volume, and expor t t r a d e


54 - 2 - X-300S

i s d e c l i n i n g . R e t a i l t r ade has bean wel l main ta ined . There has been

an adequate supply of banking accommodation.

Prom D i s t r i c t No. 3 (Ph i l ade lph ia ) i t i s r epor t ed t h a t t h e r e has

been but . l i t t l e change of condi t ions from the p reced ing mouth, manufac-

t u r i n g and wholesa l ing being qu ie t , whi le r e t a i l t r a d e . i s l a r g e r than

l a s t year .

From D i s t r i c t No. 4 (Cleveland) i t i s r epo r t ed t h a t money cond i t ions

a r e encouraging, p r i c e s a re s t i l l receding , manufactur ing con t inues t o

be r e s t r i c t e d in volume, r a i l r o a d e f f i c i e n c y i s l a r g e , whi le cu r t a i lmen t

of output and lowering of wages a r e i n evidence throughout the i ron and

s t e e l t r a d e .

From D i s t r i c t No, 5 (Richmond) i t i s r e p o r t e d t h a t bus iness i n

wholesa le and manufactur ing l i n e s i s i n a c t i v e , b u i l d i n g o p e r a t i o n s a t a

minimum, and unemployment p r e v a l e n t , but s igns of improvement a r e no ted .

From D i s t r i c t No. 6 (A t l an t a ) i t i s r epo r t ed t h a t most of the co t ton

crop has been ha rves ted but i s being l a r g e l y held , whi le farmers genera l ly

f e e l t he e f f e c t of low p r i c e s . Other markets a r e q u i e t . Coal p r o -

duct ion has increased- Lower p r i c e s of p i g i r o n have not produced any

grea t amount of bus ine s s .

From D i s t r i c t No. 7 (Chicago) i t i s r epor t ed t h a t l i q u i d a t i o n of

bank l o a n s i s p r o g r e s s i n g favorab ly . Banners a r e s u f f e r i n g from low

p r i c e s , but e f f o r t i s being made t o supply the c r e d i t they r e q u i r e .

R e t a i l t r a d e has he ld up well , a l l t h i n g s cons ide red .

From D i s t r i c t No. 6 (S t . Louis) apathy i n buying i s r e p o r t e d . P r i ce

c u t s have gone f u r t h e r and t h e r e i s i n c r e a s e of unemployment. Transpor-

t a t i o n has l a r g e l y improved and banking condi t ions a r e even b e t t e r than

h e r e t o f o r e . Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

- 3 - X-3008

From D i s t r i c t No. 9 (Minneapolis) i t i s r epo r t ed t h a t g r a in r e c e i p t s

M'vesomawhat f a l l e n o f f , while s tocks of g r a in nave i n c r e a s e d . Flour

p roduc t ion has improved. P r i c e s i n general have dec l ined . Bank

cond i t i ons a.re s t r o n g e r . R e t a i l t r a d e has neld i t s own.

From D i s t r i c t No. 10 (Kansas Ci ty) i t i s r epor ted t h a t the re i s

slowing down of bus ines s in near ly a l l l i n e s , but t h e r e i s a genera l

b e l i e f t h a t cond i t ions w i l l soon be r i gh t ed and a founda t ion i s being .. : c - . " d l y

l a i d f o r i " b e t t e r bus ine s s . Only s l i g h t evidences of l i q u i d a t i o n

a re to be no ted .

From D i s t r i c t No. 11 (Dal las ) i t i s r epo r t ed t h a t t h e r e w i l l be a

" l a r g e carry over" both of debts and commodities i n t o 19?1- Movement

of goods shows decrease p r e t t y gene ra l l y , but r e t a i l - t r a d e has held up

w e l l .

From D i s t r i c t No. 12 (San Franc isco) i t i s r epor t ed t h a t r e t a i l t r ade

i s good, who lesa l ing l e s s a c t i v e , crops moving s t e a d i l y to market,

l i v e s t o c k and a l l i e d i n t e r e s t s i n favorab le p o s i t i o n , and f i n a n c i a l

p r o s p e c t s f a v o r a b l e .

A g r i c u l t u r e . - The weathsr cond i t ions which have p r e v a i l e d genera l ly

throughout the a g r i c u l t u r a l s e c t i o n s have been f avorab le f o r farm opera-

t i o n s . The husking of corn has been ca r r i ed forward r a p i d l y and i s

p r a c t i c a l l y f i n i s h e d i n most d i s t r i c t s . In D i s t r i c t No. 4 (Cleveland) ,

however, husking has been slow and the warm, moist Whether has i n j u r e d the

q u a l i t y of corn t o some e x t e n t . The wea the rcond i t ions have a l s o a ided

m a t e r i a l l y in f a l l plowing and the p r e p a r a t i o n of the ground f o r n e t t

s e a s o n ' s crop. Winter wheat has made a good s t a r t and i s i n a good

cond i t ion to go through the w i n t e r . In some s e c t i o n s t h e r e has been some

damage from the Hessian f l y , but the colder weather w i l l tend t o e l imina te

t h i s e v i l . Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

- 4 - X-3008

An i n d i c a t i o n of t h e ex ten t t o which co t ton p i ck ing has progressed

i s a f f o r d e d by the number of b a l e s ginnad p r i o r t o December 1, which was

10,144, 921 i n 1920, a s a g a i n s t 8,844,3t>S in ISIS* In some s e c t i o n s

r a in s have delayed p i ck ing to some ex ten t , while in o ther s e c t i o n s

farmers a r e r epor t ed t o be abandoning the c o t t o n because of the d e c l i n e

in p r i c e and the r e l a t i v e s c a r c i t y of p i c k e r s , t o g e t h e r wi th the high

wages demanded. In southern Oklahoma co t ton p ick ing con t inues , a l though

r e p o r t s a r e to the e f f e c t t h a t a cons iderab le p o r t i o n of t h e . c r o p w i l l

be pas tu red a f t e r the f i r s t p ick ing . There has been cons ide rab le

d e t e r i o r a t i o n in t h e q u a l i t y of the l i n t , due t o the wet weather , and the

bulk of the ginning i s r epor ted to be grading below middl ing .

Movement of co t ton to market has been r e l a t i v e l y slow^ r e c e i p t s

showing a sharp and unseasonable f a l l i n g o f f . In some s e c t i o n s i t i s

repor ted t h a t s e l l e r s have complained t h a t they were unable tu s e l l t h e i r

co t ton a t any p r i c e un le s s i t was of super ior grade. However, co t ton

farmers i n many s e c t i o n s show a tendency t o hold a s much a s p o s s i b l e of

t h e i r crop off the market, in the hope of an advance in p r i c e . Many

new cot ton s to rage warehouses have been cons t ruc t ed . The low p r i c e s

r e a l i z e d f o r co t ton have r e s u l t e d in cons iderab le a t t e n t i o n being given t o

the reduc t ion of next y e a r ' s ac reage , some p l a n t e r s propos ing a decrease

of o n e - t h i r d , and v'6? crop r o t a t i o n has been urged.

Live Stock - Live s tock on farms and ranges i n D i s t r i c t No. 10

(Kansas C i ty ) i s "gene ra l ly hea l thy and in good c o n d i t i o n " . The tendency

i s f a s t d i s appea r ing to abandon the bus iness and s a c r i f i c e the s tock .

As feed i s cheap and p l e n t i f u l , t h e r e i s more of an i n c e n t i v e t o pu t f l e s h

on the an ima l s i n s p i t e of the low p r i c e s p r e v a i l i n g . Southwestern ranges


X-3C08

and l i v e s tock , wi th few excep t ions , " a r e e n t e r i n g the w i n t e r i n the bes t

c o n d i t i o n they have enjoyed f o r many y e a r s " . Rece ip t s of c a t t l e a t 15

wes te rn marke ts i n c r e a s e d from 1 ,628 ,564 head dur ing October t o 1 ,751 ,261

head du r ing November, t h e r e s p e c t i v e index numbers be ing 162 and 177, a s

compared wi th 2 ,038,786 head, cor responding t o an index number of 202

dur ing November, 1919. Rece ip t s of hogs i n c r e a s e d g r e a t l y between

October and November, be ing 2 ,624,185 head dur ing November, a s compared

wi th 1 ,836 ,748 head dur ing October and 2 ,659,251 head dur ing October, 1919;

the r e s p e c t i v e index numbers being 119,84 and 121, On the o the r hand,

r e c e i p t s of sheep were l e s s , be ing 1 ,542 ,47? head d u r i n g November, c o r r e s -ponding to index 113, as compared wi th 1,805,330 head d u r i n g O c t o b e r , c o r r e s -ponding t o an index number of 1] , and 1 ,742 ,668 head dv r ing November,

1919> corresponding t o an index number of 128. November c a t t l e r e c e i p t s

a t For th Worth, however, were the sma l l e s t on record f o r t h a t month s ince

1912, and "were gene ra l l y of an u n d e s i r a b l e q u a l i t y " . With d e c l i n e s i n

t h e p r i c e s of hogs i n December r e c e i p t s f o r t h e f i r s t ha l f of t h e month

i n t he p r i n c i p a l markets i n D i s t r i c t No. 10 (Kansas C i ty ) a g a i n f e l l

below those of a year ago . The S t . Paul c a t t l e market was depressed t o

the lowes t l e v e l s of t h i s year , i n p a r t a s a r e s u l t of l a r g e r e c e i p t s

( e s p e c i a l l y of common and poor grade, which a r e always hard t o market a t

t h i s t ime of th s y e a r ) , s lackened demand f o r s t o c k e r s and f e e d e r s ,

inadequate s tock ca r s f o r sh ipp ing , and low p r i c e s a t e a s t e r n marke t s .

Heavy marke t ings and d e c l i n e s i n g r a i n s and p r o v i s i o n s c o n t r i b u t e d t o

a d e c l i n e i n hog p r i c e s , c l o s i n g p r i c e s f o r t he h i g h e s t g rades on November

30, be ing $9 t o $9.65, a s compared w i th $12 t o $12.25 on October 30.

[Other Crops - The tobacco s i t u a t i o n has shown but very l i t t l e change

dur ing t h e p a s t month. The opening of the wes t e rn dark marke t s i n

Kentucky was d i s a p p o i n t i n g t o t h e f a rmers because of t h e p r e v a i l i n g low


58

6"" X-30Q8

p r i c e s , t o g e t h e r wi th t h e decreased demand. I n D i s t r i c t No* 5

(Richomnd) " t h s f a r a e r s have shewn a tendency t o s e l l t h e i r o f f - c o l o r

andi poorer grades , apparen t ly holding t h e i r bes t tobacco u n t i l a f t e r

the ho l idays in the hope of b e t t e r p r i c e s " . Export demand f o r l ea f

tobacco i s very small , whi le manufac ture rs 1 s tocks a r e r epor t ed l a r g e

ax>4 t h e i r purchases have been kept a t a minimum. The s lacken ing of

demand f o r manufactured goods cont inues , wi th t h e r e s u l t t h a t some

f a c t o r i e s a r e c losed whi le o the r s a r e running only on p a r t t ime . The

decreased demand i s most n o t i c e a b l e in the case of c i g a r s , and the

r e t a i l e r s * o r d e r s a r e f a l l i n g off i n consequence.

F r u i t s - Shipments of C a l i f o r n i a f r u i t have been very s a t i s f a c t o r y ,

and t r a n s p o r t a t i o n f a c i l i t i e s have been e x c e l l e n t throughout the sh ipping

season. While the boxed apple crop i s p laced a t 27 ,633,000 boxes, a s

compared wi th 35,^-5*000 boxes i n l $ i y , approximately t w o - t h i r d s of t h e

crop i s out of the producing d i s t r i c t s and s torage ho ld ing ovar much

smaller than i n 1919* Shipments of oranges a r e s l i g h t l y below shipment3

during the same per iod l a s t year , but shipments of lemons have been the

l a r g e s t ever recorded i n C a l i f o r n i a .

Brain and Flour - The movement of g r a in t o market has va r i ed somewhat

a t d i f f e r e n t c e n t e r s . In D i s t r i c t No. 10 (Kansas C i t y ) , November

wheat r e c e i p t s a t the p r i n c i p a l markets were about 13 per cent l a r g e r than

t h s r e c e i p t s f o r the month of October, but were 11,6 per cent below the

r e c e i p t s of November, 1919- On the o ther hand, i n D i s t r i c t No. 9

(Minneapolis) r e c e i p t s a t Minneapolis and Duluth were 15 .5 p e r cent below

October r e c e i p t s , but were 47.1 par cent above r e c e i p t s f o r November,


- 7 - X-3008

1919- I t i s r epo r t ed t h a t about >0 p a r cent of t h i s y e a r ' s crop i s

s t i l l on the farm a s a g a i n s t about 35 pe r cent a t the same time l a s t

yea r . In D i s t r i c t No, 10 "no twi ths tand ing . the f a c t t h a t a bumper crop

of corn was r a i s e d in t h e b i g corn-producing S t a t e s a s compared wi th the

sna i l crop of l a s t year , the primary r e c e i p t s of corn a t the markets

of t h i s D i s t r i c t were about 42 par cent bs los the r e c e i p t s in the sane

per iod of 1919". In Minneapolis and Duluth corn r e c e i p t s were s l i g n t l y

above November, 1519# and more than double r e c e i p t s f o r October, 1J20.

Receip ts of oa t s , b a r l e y , rye, and f l a x decreased a s compared with October,

but in -each case were above r e c e i p t s f o r November, 1919- The p r i c e s of

g ra ins throughout the v a r i o u s markets have shown a dec l ine w i th only a few

minor excep t ions . The c l o s i n g p r i c e of cash wheat No. 1 dark no r the rn

a t Minneapolis on November 30 was $1 ,$0-7 /8 t o $1.5^7/8, whi le the c los ing

p r i c e on October 30 was $2.13? t o $2.17i* In D i s t r i c t No. 10 (Kansas Ci ty)

i t i s r epo r t ed t h a t "wheat p r i c e s r a l l i e d the f i r s t week i n December a f t e r

a continued dec l i ne i n November, but a t the end of t h e second week a

weakness was developed which brought wheat down almost t o the low l e v s l of

the l a s t week i n November".

The f l o u r market cont inues d u l l . "Mi l l e r s r e p o r t cond i t i ons int .heir

bus iness the most u n s a t i s f a c t o r y experienced i n r ecen t yea r s " , s t a t e s the

r epo r t from D i s t r i c t No. 8 ( S t . L o u i s ) . Hard-wheat p a t e n t s were quoted i n

Kansas City on December 14 a t $8-50 t o $9, a s compared w i th $9*35 t o $9-5

on November l 6 . Aside from the absence of demand, p a r t i c u l a r complaint i s

made of the i n s t a b i l i t y of wheat f u t u r e s and the r e s u l t i n g d i s o r g a n i z a t i o n

of the f l o u r market . There has been a f u r t h e r slowing down of m i l l i n g oper

t i o n s i n t h i s D i s t r i c t . The t o t a l output of a s e l e c t e d group of m i l l s i n

November was 1 ,285,155 b a r r e l s , a s compared wi th 1 ,970,977 i n November, I919, and o p e r a t i o n s dur ing the s i x weeks


*r- X-3008

ending December 11 have been at 53-3 per cent of capacity, as compared

wih 87-8 per cent fo r the same period l a s t year. Production in L i s t r i c t

No. 9 (Minneapolis) during the four weeks ending November 27 was 2,469,1*95

ba r re l s , an increase c f .8 r e t cent over the f igure of 2,279,990 ba r r e l s for

the four week s ending October 30, but was only 80 per cent of output a year

ago, which was 3,012,465 bar re l s . Present operations are at 52 per cent

of capacity, as compared with 69 per cent a year ago. Mill operations

in D i s t r i c t No. 2 (St . Louis) are only 45-50 per cent 0f capacity. St.

Louis mi l l s have a f f ec t ed a cut in wages of a l l operat ives of 50 cents a

day.

C_ot t9 t e x t i l e s . - Although a s l igh t increase in the buying of cotton

by New England mi l l s has occurred during the past month, according to the

r snor t from Di s t r i c t No. 1 (Boston), purchases have been much below normal,

while mi l l s in the Carolinas are said "to have been out of the market for

some time" (Di s t r i c t No. 5, Richmond). In view of the l imi ted demand and

the size of the crop, which, according to f i n a l estimates of the Department

of Agriculture wi l l amount to 12,987,000 bales , i t i s not surpr is ing that

pr ice decl ines have been continuously recorded. From November 20 to

December 20 there was a decline of s l i g h t l y more than 10 per cent in the

pr ice of snot cotton in New York; while the f a l l from the maximum -price

recorded in Ju ly amounted to 63-75 P-r cent . For 22 towns in the Carolines

the Bureau of Markets quoted or ices averaging only l 4 . 4 l on December 11,

and D i s t r i c t No. 5 (Richmond) repor ts that the market was l imited

even a t t h i s low l eve l .

The New England mi l l s are estimated to have been operating at even

lower capacity during the middle of December than they were during the

previous month, when 30 per cent to 40 p r cent of operat ing capacity r s

^ r e s e n t e d the average f o r D i s t r i c t No. 1 (Bos ton) . In D i s t r i c t So. 5


- 9 - X-3008

(Richmond) i t is s t a t e d t h a t in Gaston County, N. C. , vrhoro t he f i ne -ya rn

indus t ry of t he D i s t r i c t id l a rge ly aoncontratct i , . the n i l Is have cl.oaod

doxm e n t i r e l y .

The r e p o r t on cot ton consumption issued by the Census Bureau in IIovcnbvr

r e f l e c t s the ce s sa t i on of m nu fa c t ur in ft a c t i v i t y , t he amount consumed,

332,057 b i l e s , f a l l i n g below t h a t repor ted f o r Au.rust, 1914, by 51,943 bales*

The cot ton consumption of the N cv,-- England n i l Is f o r t he month ending November

30 was only 100,402 b a l e s , as compared with 168,16? ba) os .reported for

August* On t h e other hand, the reduct ion in cot ton s tocks of these mi l l s

from 610,311 ba les in oboist t o 463,369 ba les in October r e s u l t e d in the

increased buying previous ly r e f e r r e d to and caused a s l i g h t inc rease in

s tocks held t o be r eg i s t e red in November, whan 485.651 ba les on hand were

repor ted .

D i s t r i c t Mo. 1 (Boston) says tha t there is "a more d i s t i n c t note of

optomisn in the Boston wool t r ade than fo r some t ime, i t b o i n e s t i m a t e d

t h a t sa l e s fo r the second week in December amounted t o 6,000,000 pounds,

about equal ly divided between domestic and f o r e i g n , " B r i t i s h Government

ho ld ings , however, o f f e red a t auct ion the second week in December r e s u i t e a

in s a l e s f only 1,500 ba les out of a t o t a l o f f e r i n g of 7,400 b a l e s . While

t h e r e i s as ye t no evidence of r e a c t i o n from the depression p reva i l ing in

the market f o r woolen and worsted t e x t i l e s , D i s t r i c t No, 3 (Ph i l ade lph ia )

s t a t e s t h a t two or th ree largo mi l l s repor t increased idmand f or dress

jxoods, more p a r t i c u l a r l y women's wear. On the other hand, some m i l l s in the

D i s t r i c t are f u r t h e r reducing t he sca l e of opera t ions or consider ing a com-

p le t e suspension of operat ions- Yarn m i l l s in D i s t r i c t No, 3 (Ph i l ade lph ia )

r epo r t l e s s bus iness than during t he preceding month, even wi th y a m p r i ce s

50 per cent t o 60 per cent below the peak po in t s , "Manufacturers of hos ie ry ,

underwent-, swea te rs , e t c . / ' i t i s s a i d , "have s u f f i c i e n t yarns t o enable those


who a r e opera t ing a t a l l t o maintain t h e i r c u r t a i l e d schedules*" The

American V/oolen Co. 1 s auc t ion sa l e of 9,000 pieces of overcoat ing (Dec,

14-16) brought p r i c e s of about 25 per cent t o 40 per cent of those p r e -

v a i l i n g a t the open inn: l eve l fo r 1920*

Hosiery, - P r a c t i c a l l y no business i s being t r a n s a c t e d in h o s i e r y l i n e s

in D i s t r i c t No* 3 ( P h i l a d e l p h i a ) , as a r e s u l t of the u n c e r t a i n t i e s of p r i co

f l u c t u a t i o n s which have been aggravated by forced sa l e s of s tocks . As a

r e s u l t , i t i s es t imated t h a t the operat ing capac i ty of the m i l l s i s l e s s

than 20 per cent of normal. Returns received for November from 34 r e p o r t i n g

f i rms in t h e hos i e ry i n d u s t r y , which s e l l t o the wholesale t r a d e , show a r e -

duct ion in the value of the producttmanufactured during t h e month ( s e l l i n g

p r i c e ) of 74 per cent as compared wi th the same month in 1919 and 18.8 pe

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