FEDERAL RESERVE BOARD WASHINGTON

ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD

X-4S49

May 10, 1927

SUBJECT: Expense, Main Line, Leased Wire System, April, 1927

Dear Sir:

Enclosed herewith you will find two mineo-graph statements, X-4849-a and X-4s49-b, covering in detail operations of the main line, Leased Wire Sys-tem, during the month of April, 1927.

Please credit 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 account of "Salaries and Expenses, Federal Re-serve Board, Special Fund", Leased Wire System, send-ing duplicate C/D to the Federal Reserve Board.

Yours very truly,

Fiscal Agent.

Enclosures.

TO GOVERNORS OF ALL F. R. BAMS EXCEPT CHICAGO.

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x-"4s49—a REPORT SHOWING- CLASSIFICATION AMD NUMBER OF WORDS TRANSMITTED OVER MAIN LINE

OF THE FEDERAL RESERVE LEASED WIRE SYSTEM FOR THE MONTH OF APRIL, 1927

Words sent "by Now York

From

Business reported by banks

chargeable to other

F.R.Banks(l) Total

Treasury Department Business

War Finance Corporation Business

Net Federal Reserve Bank Business

Percent of total bank Business(*)

Boston 31,592 660 32,252 3,233 29,019 3.57 New York 132,970 - 132,970 7,372 502 125,096 15.40 Philadelphia 41,302 521 41,823 3,958 -» 37,865 4.66 Cleveland 79,100 2,123 81,223 3,710 — 77,513 9.54 Richmond 47,132 2,205 49,337 3,335 W 46,002 5.66 Atlanta 57,026 2,511 59,537 4,877 - 54,660 6.73 Chicago 104,263 3,163 107,426 5,957 - 101,469 12.49 St. Louis 75,714 2,104 77,818 4,914 mm 72,904 8.98 Minneapolis 31,904 2,l40 34,044 2,246 - 3i,79S 3.92 Kansas City 75,141 2,262 77,403 3,765 — 73,638 9-07 Dallas 59,258 4,396 63,654 2,67s - 60,976 7.51 San Francisco 105.310 2,409 107.719 6,453 — 101,266 12.47

Total 840,712 24,494 865,206 52,498 502 812,206 100.00# F. R. Board 300.484 37.268 465 262.751

Total 1,165,690 89,766 967 1,074,957 Percent of total 100.003 1-loi .08$ 92.22$

(*) Those percentages •used in calculating the pro rata share of leased wire expense as shown on the accompanying statement (X-4s49-b).

(l) Number of words sent by New York to other F. R. Banks for their sole "benefit charged to banks indicated in accordance with action taken at Governors' Conference November 2 - 4 , 1925.

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XJ+s49-b REPORT 0? EXFEKSE Mill LPTE

FEEERAL RESERVE LEASED WIRE SYSTEM, APRIL, 1927

Probata Payable to Share of Federal

Operators < Operators1 Wire Total Total Reserve ITarcc of Bank Salaries Overtime Rental Expenses Expenses Credits Board

Boptcn $ 260.00 $ 5.00 $ 265.OO $ 752.46 $ 265.00 $ 487-46 Nevv York 983.29 - - 9S3.29 3,245.29 933-29 2,262.60 Philadelphia 225.00 - — 225.00 952.20 225.00 757-20 Cleveland 296.66 - - 296.66 2,010.77 2SfD. 6b 1,714.11 hic'riTio nd 190.00 - - 190.00 1,192.97 190.00 1,207.64(&) Atlanta 270.00 - — 270.00 1,418.50 270.00 1.14S,50 Chisago 3,982.67(f) - - 3,958.67 2,632.55 3,923.67 1,356.12(*) St. Louis 224.00 - - 224.00 1,892.74

826.23 224.00 1,668.74

Minneapolis 193.73 - - 193.73 1,892.74

826.23 193.73 632.50 Z'itscs City 275-64 - - 275-64 1,911.70 275-64 1,636.06 Dallas 251.00 - - 251.00 1,552.90 251.OO 1,331.90 Sail Francisco 370.00 - — 370.00 2,628.33 370.00 2,258.33 Federal Reserve Board. - - $15,315.20 15,315.20 - - -

Total $7,527.59 $ 5-00 $15,315.20 $22,848.19 $21,077-24 $7,532.99 $15,105.04 1.770.95(a) _ l J 5 6 A 2 ( b )

$21,077.24 $13,745,92 (&) Includes $204.67 for branch line "business transmitted over main line circuit. if) Includes salaries of Washington Operators. (*) Credit. (a) Received $1,759*^6 from Treasury Department and $11.49 from the War Finance Corporation covering business

for the month of April, 1927. (b) Amount reimbursable to Chicago.

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