E x O F F I C I O M E M B E R S

DAVID F. HOUSTON SECRETARY OF THE TREASURY

CHAIRMAN

JOHN SKELTON WILLIAMS COMPTROLLER OF THE CURRENCY

A D D R E S S REPLY TO

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

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

W A S H I N G T O N

W . P. 6. H A R D I N G , GOVERNOR

E D M U N D PLATT,VICE GOVERNOR ADOLPH C. MILLER CHARLES S. HAMLIN HENRY A. MOEHLENPAH

W. T. CHAPMAN, SECRETARY R . G . E M E R S O N , ASSISTANT SECRETARY

W . M . I M L A Y . FISCAL A6ENT

November l6 , 1920-S t . 1 5 7 7 .

SUBJECT: P repa ra t ion of Annual Reports *

Dear S i r :

On account of the l i m i t a t i o n s as to the s i z e of the Annual Report of the Board, and the e x h i b i t s and supplements t h e r e t o , as ou t -l i ned i n the Board1 s l e t t e r X-1722 of November 12, 1919, the Board has decided to fo l l ow the p l an adopted l a s t year of p u b l i s h i n g an a b s t r a c t of the r e p o r t of each Federa l Reserve Agent i n s t e a d of pub-l i s h i n g the r e p o r t s i n f u l l * Accordingly, the Board w i l l not p r e s c r i b e a s p e c i f i e d form to which r e p o r t s of Federa l Reserve Agents s h a l l ad-h e r e , but would ask t h a t you give, immediately fo l lowing the i n t r o -duc t ion , a genera l r ev iew of the s e rv i ce and a c t i v i t i e s of the Federa l Reserve Bank dur ing the year , to be fol lowed by an e x h i b i t of earnings an&expenses.

In order , however^ t h a t the s t a t i s t i c a l p o r t i o n of the ab-s t r a c t s of the Federa l Reserve Agents1 r e p o r t s to be pub l i shed i n the Board 's for thcoming 1920 Annual Report may be compiled i n a uniform manner f o r a l l Federa l Reserve Banks, may we r eques t t h a t t a b l e s be prepared and forwarded to the Board in accordance wi th the fo l lowing l i s t , a l l f i g u r e s to be i n thousands of d o l l a r s except i n t a b l e r e -l a t i n g to ea rn ings and expenses where the amounts should be shown i n d o l l a r s :

1 . Comparative balance sheet as of December 31 f o r the years 1917 to I920 p r e s e n t e d i n the form now used i t i the Board 's weekly p r e s s s t a t e m e n t .

2 . Volune of b i l l s discounted and purchased each month dur ing 1920 w i t h t o t a l s f d r th ree preceding years* (Exclusive of b i l l s d i scoun ted fo r ot purchased from o the r Federa l Reserve Banks) * Form ~ See a t t a ched sheet marked exh ib i t A*

3 • Operat ions of check c l e a r i n g and c o l l e c t i o n depar tment . De ta i l ed c l a s s i f i c a t i o n of the number and amount of i tems handled, by months, dur ing 1920, wi th t o t a l s f o r tne t h r ee p reced ing yedrs • (Figures fray be f o r da lendar months or f o r monthly p e r i o d s ending on the 15 t h of each month) » Form •* See a t t a ched sheet marked e x h i b i t B.

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1330. .

U. Currency receipts frcm and shipments to member and ncn-m ember "banks, by months, during 1$20 with to ta l s for the three preceding years. Form - See attached sheet marked exhibit C.

5* Earnings and expenses during 1920, with tota ls for three preceding years. Form - Same form as adopted in Federal Reserve Board's 1919 -Annual Report. (Exhibit G, -pages 232-23 4> • • *

I t i s not intended in the foregoing spec i f icat ion of tables for use in the Board's Annual Report to impose any res tr i c t ion upon the matter to be included in the f u l l reports of the Federal Reserve Agents. I t i s desired, however, that, as heretofore, the manuscript for the text of your report be forwarded to the Board as early as practicable, a lso that the s t a t i s t i c a l tables included in the report be forwarded to the Board as soon a f ter January 1 as possible in order that we may be able to compare f igures in such tables with corres-ponding figures compiled by the Board for insertion in i t s Annual Report and reconcile d i f ferences before any of the Federal Reserve Agents' reports are released for publication.

In addition the Board w i l l prepare a table for each Federal Reserve Bank to replace exhibits A and B of the 1919 Annual Report, in which, both i n the case of discounted and purchased b i l l s , adjustments on account of transactions with other Federal Reserve Banks w i l l be made in order to show the amounts of b i l l s discounted for member banks in own d i s t r i c t and the amount of b i l l s purchased in the open market. The statement w i l l be prepared in accordance with the form attached hereto marked exhibit D.

Fran data given i n these tables two charts similar to those, printed in the Board's 1919 Annual Report w i l l be prepared by the Board, one showing the re lat ion of reserves to Federal Reserve note and net de-pos i t l i a b i l i t i e s , and the other showing the*movement of earning assets , including the amount of paper discounted for member banks in own d i s t r i c t and the percentage of such paper secured by Government war obl igat ions . Copies of the above mentioned tables and charts w i l l be forwarded to you when completed.

Very truly yours,

Governor.

Letter sent to each Federal Reserve Agent.

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