Counsel-M. C. Elliott. ton. Chief of Division of Audit and ExaminationJoseph A. Broderick. Headquarters-Treasury department, WashingSalaries of five members, $12,000 a year: comptroller of currency as ex officio member, $7,000 a year additional to his salary of $5.000 as comptroller. The secretary to the board gets $6,000 a year, the assistant secThe retary $4,500 and the counsel $7,500. examination is paid chief of audit and $6,000 a year. Duties-The federal reserve board exercises a general supervision over the affairs and management of the federal reserve banks. It It has the power to discount paper, issue federal reserve notes and perform other banking functions prescribed by the law. appoints its own officers and employes and derives its support from assessments levied on the reserve banks. The members of the board are appointed by the president of the United States. 7. Chicago, Ill. 8. St. Louis, Mo. 9. Minneapolis, Minn. 10. Kansas City, Mo. 11. Dallas, Tex. 12. San Francisco, Cal. FEDERAL RESERVE DISTRICTS. 1. Maine, New Hampshire, Vermont, Massachusetts. Rhode Island and all of Connecticut except the county of Fairfield. the 2. The state of New York and the northern part of the state of New Jersey comprising the counties of Bergen, Essex, Hudson. Hunterdon, Middlesex, Monmouth, Morris, Passaic. Somerset, Sussex, Union, Warren and county of Fairfield in the state of Connecticut. 3. All that part of New Jersey comprising the counties of Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer, Ocean and Salem; the state of Delaware; all that part of Pennsylvania east of the western boundary of McKean, Elk, Clearfield, Cambria and Bedford counties. 4. Ohio; all that part of Pennsylvania west of district No. 3: Marshall, Ohio, Brooke, Hancock, Wetzel and Tyler counties, West Virginia; all that part of Kentucky east of the western boundary of Boone, Grant. Scott, Woodford, Jessamine, Garrard, Lincoln, Pulaski and McCreary counties. 5. District of Columbia, Maryland, Virginia, cilities until they are fully equipped for their economic and social careers. 3. Government support, by loans and other methods, to farmers' and workers' co-operative organizations. 4. The retention and extension of the public domain and the conservation and full development of natural resources by the nation. 5. Pensions for mothers, for invalidity, and old age. DISTRICTS AND OFFICIALS. North Carolina and South Carolina; all of West Virginia except Marshall, Ohio, Brooke, Hancock, Wetzel and Tyler counties. 6. Alabama, Georgia and Florida: all that part of Tennessee east of the western boundary of Stewart, Houston, Wayne, Humphreys and Perry counties; all that part of Mississippi south of the northern boundary of Issaquena. Sharkey, Yazoo, Kemper, Madison, Leake and Neshoba counties; all of that part of Louisiana south of the northern boundaries of the parishes of Vernon, Rapides and Avoyelles. 7. Iowa; all that part of Wisconsin south of the northern boundary of Marquette, Oconto. Langlade, Marathon, Jackson and Vernon counties; all of the southern peninsula of Michigan, viz., that part east of Lake Michigan; all that part of Illinois north of the southern boundary of Hancock, Schuyler, Cass, SanClark counties; all that part of Indiana north gamon, Christian, Shelby. Cumberland and of the southern boundary of Vigo, Clay, Owen, Monroe, Brown, Bartholomew, Jennings, Ripley and Ohio counties. 8. Arkansas; all that part of Missouri east of the western boundary of Harrison, Daviess, Caldwell, Ray, Lafayette, Johnson, Henry, St. Clair, Cedar, Dade, Lawrence and Barry counties; all that part of Illinois and Indiana not included in district No. 7: all that part of Kentucky not included in district No. 4: all that part of Tennessee and Mississippi not included in district No. 6. 9. Montana, North Dakota, South Dakota and Minnesota; all that part of Wisconsin and Michigan not included in district No. 7. 10. Kansas, Nebraska, Colorado and Wyoming: all that part of Missouri not included in district No. 8; all of Oklahoma except the counties of Atoka, Bryan, Choctaw, Coal, Johnston, McCurtain, Marshall and Pushmataha; all that part of New Mexico north of the southern boundary of McKinley, Sandoval, Santa Fe, San Miguel and Union counties. 11. Texas; all that part of New Mexico and Oklahoma not included in district No. 10; all that part of Louisiana not included in district No. 6; and Pima, Graham, Greenlee, Cochise and Santa Cruz counties, Arizona. 12. California, Washington, Oregon, Idaho, Nevada and Utah; all that part of Arizona not included in district No. 11. Total gold reserves. Total reserves. and bought... Due to membersreserve account.. Richmond. 81,392,000 90,012,000 51,947,000 Chicago. Total gold reserves.$416,204,000 and bought....... 219,441,000 Resources. 198,637,000 164,607,000 115,246,000 Atlanta. $63,342,000 63,548,000 84,211,000 80,477.000 Due to members- Chicago. Minneapolis. 82,509,000 49,213,000 50,408,000 77,784,000 80,248,000 74,433,000 Total gold reserves. $82,450,000 Bills discounted and bought. Due to members- Total gold reserves. and bought... Due to members Dallas. San Francisco. Dist. 11. Dist. 12. $33,655,000 $172,013,000 34,833,000 172,247,000 49,305,000 105,773,000 reserve account.. 32,340,000 88,171,000 STATEMENT OF MEMBER BANKS. 752 Number of banks reporting. Net demand deposits. CONSOLIDATED STATEMENT. Bills discounted: Secured by government war obligations........1,280,303,000 Uncollected items deducted from gross_deposits.. Five per cent redemption fund against Federal reserve bank notes 819,010,000 5,219,527,000 2,956,130,000 Federal reserve bank notes in circulation, net liability. ........... ....... Total liabilities ..2,555,215,000 1,015,892,000 80,504,000 8,000,000 FINANCIAL STATEMENT OF THE U. S. GOVERNMENT (JUNE 30, 1918). CASH AVAILABLE TO PAY MATURING OBLIGATIONS. Balance held by the treasurer of the United States as per daily treasury. statement for June 29, 1918. Add-Net excess of payments over receipts in June reports subsequently received Total Settlement warrants, matured interest obligations and checks outstanding- Matured interest obligations*. Disbursing officers' checks. Balance free of current obligations.. $1,585,006,851.47 99,922,728.74 1,684,929,580.21 *The unpaid interest due on Liberty loans is estimated in cases where complete reports have not been received. Excess of notes over reserve.. 193,701,990.37 53,012.50 36,903,592.00 6,845,137.82 Total Debt on Which Interest Has Ceased Since Maturity. 237,503,732.69 Funded loan of 1891, continued at 2 per cent, called for redemption May Funded loan of 1891, matured Sept. 2, 1891 Old debt matured at various dates prior to Jan. 1, 1861, and other items Total Title of loan. Consols of 1930.. Loan of 1908-1918. Loan of 1925. Panama canal loan: Series 1906... Series 1908.. Series 1911... Conversion bonds.. Interest Bearing Debt. Payable on or after specified future dates. Authorizing act. March 14, 1900..... Rate. Issued. Amount issued. .2 per cent...1906.... 2 per cent...1908.... June 28, 1902, and Dec. One year treasury notes......Dec. 23, 1913.. First Liberty loan of 1917.... Apr. 24, 1917.. Second Liberty loan of 1917.. Sept. 24, 1917.. Postal savings bonds (1st June 25, 1910.. Postal savings bonds (14th June 25, 1910... series) War sav. and thrift stamps. Sept. 24, 1917. per cent.. $646,250,150.00 198,792,660.00 162,315,400.00 54,631,980.00 63,945,460.00 118,489,900.00 48,954,180.00 30,000,000.00 25,947,400.00 50,000,000.00 50,000,000.00 28,894,500.00 28,894,500.00 *27,362,000.00 19,150,000.00 Various .1917-18. *2,098,699,500.00 1,706,204,500.00 4 & 44 per ........ 12,701,132,104.22 11,985,882,436.42 These amounts | pounded quarterly for the average period to maturity will amount to $5 on Jan. 1, 1923. Thrift stamps do not bear interest. $This amount represents receipts of the treasurer of the United States on account of proceeds of sales of war savings certificate stamps and United States thrift stamps. Excludes matured series. represent receipts of the treasurer of the United States on account of principal of bonds of the first, second and third Liberty loans, respectively, to June 30. The average issue price of war savings stamps for the year 1918 with interest at 4 per cent per annum com Debt bearing no interest. Net Debt. Gross Debt. .12,243,628,719.37 $237,503,732.69 *The amount of $5,624,434,750 has been 20.242.550.26 expended to above date in this and the pre.11,985,882,436.42 ceding fiscal year from the proceeds of sales of bonds authorized by law for purchase of the obligations of foreign governments. When payments are received from foreign governments on account of the principal of their obligations, they must be applied to the re1,319,347,364.14 duction of the interest-bearing debt of the 10,924,281,355.23 United States. PAY WARRANTS DRAWN. Gross debt (above) .........$12,243,628,719.37 Deduct-Balance free of cur rent obligations......... Net debt*. Panama Canal-Pay warrants for construction, etc. 8,969,911,661.32 1,147,751,195.26 20,787,624.92 19,262,798.32 885,000,000.00 Special-Purchase of obligations of foreign governments.. 4,739,434,750.00 Subscription to stock of federal land banks. .......... Total warrants drawn on general fund, exclusive of public debt 65,153,254.15 ................ 8,880,315.00 25,000,000.00 13,795,287,290.39 2,085,894,308.58 *Includes all warrants drawn for payments by the bureau of war risk insurance except for army, navy and marine corps allotments of pay. Includes warrants for allotments of army pay paid by the treasury department under the war risk insurance act. Includes warrants for allotments of navy and marine corps pay paid by the treasury department under the war risk insurance act. MEMORANDA. Amount due the United States from the central branch of the Union Pacific ....... Total .$1,600,000.00 1,984,309.22 3,584,309.22 1891. 1,614,705.26 1892. 1893. 2,094,060.26 1894. 1895. 1896. 1,851,240.26 1897. 1,346,880.26 1898. 1.262.680.00 1899. 1,218.300.26 1900.. $661,355,834.20 694,083,839.83 746,937,681.03 707,016,210.89 732,940,256.13 899,313,380.55 67,632,000 13.30 .38 811.061,686.46 864.059.314.78 68.934.000 13.08 .42 .49 .48 .47 .54 .44 $1,815,805.26 $825,011,289.47 $1,552.140,204.73 2,785,875.26 1.000,648,939.37 1,558,464,144.63) 958.854,525.87 1,545,985,686.13 995,360,506.42 1,632,253,636.68 958.197,331.99 1,675,120.983.25 920,839,543.14 1,769,840,323.40 915,934,687.89 70,254,000 13.60 968,960,655.64 1,817,672,665.90 992,022,900.03 71,592.900 13.78 947,901,845.64 1,796,531,995.90 769,446.503.76 1,027,085,492.14 72,947,000 14.08 944,660,256.66 1,991,927,306.92 836,607,071.73 1,155,320,235.19 74.318,000 15.55 1,176,320.26 1,112,305,911.41 2,136,961,091.67 1,029,249.833.78 1,107,711.257.89 75,994,575 14.58 1,415,620.26 1.154.770,273.63 2,143,326,933.89 1,098,587,813.92 1,044,739,119.97 77,612.569 13.46 1,280,860.26 1,226,259,245.63 2,158,610,445.89 1,189,153,204.85 969,457,241.04 79,230,563 12.24 1,205,090.26 1,286,718.281.63 2,202,464,781.89 1,277,453,144.58 925,011,637.31 80,848,557 11.44 1,970.920.26 1,366,875,224.88 2,264,003,585.14 1,296,771,811.39 967,231,773.75 82,466,551 11.73 1,370,245.26 1.378.086,478.58 2,274,615,063.84 1,365,467,439.06 909,147.624.78 84.084,545 11.77 1,128,135.26 1,440,874.563.78 2,337,161,839.04 1,372.726.152.25 964,435,686.79 85,702,539 11.25 1,086,815.26 1,561,266,966.00 2,457,188,061.54 1.578,591.306.51 878,596,755.03 87.320,533 10.06 4,130,015.26 1,725,172,266,28 2,626,806,271.54 1,688,673,862.16 938,132,409.38 88.938.527 10.55 2,883.855.26 1,723,344,895.78 2,639,546.241.04 1,615,684,710.25 1,023,861,530.79 90.556,521 11.31 2,124,895.26 1,737,223,452.78 2,652,665,838.04 1,606,216,652.79 1,046,449,185.25 92.174,515 11.35 1.879,830.26 1,818,367,586.43 2,765,600.606.69 1,749,816.268.23 1,015,884,338.46 93.792,509 10.83 1,760.450.26 1,902,836.653.90 2,868.373,874.16 1,840,799.176.88 1,027,574,697.28 95,410,503 10.77 1.659.550.26 1.948.618.753.40 2.916,204,913.66 1,887,640,858.52 1,028,564,055.14 97,337,000 10.60 1.552,560.26 1,942,993.398.90 2,912,499,269.16 1,885,242,259.60 1,027,257,009.56 98,646,491 10.41 1,507,260.26 2,086,570,522.90 3.058.136.873.16 1.967,988,867.16 1,090.148.006.00 100.264,485 10.87 1,473.100.26 2.636.208.571.90 3,609,244,262.16 2,620,024,640.31 989,219,621.85 101,882,479 9.71 14,232,230.26 2.990,988.572.65 5,717.770,279.52 3.809,135.055.70 1,908,635,223.82 103,500.473 18.44 *Includes certificates issued against gold, silver and currency deposited in the treasury. GOVERNMENT RECEIPTS AND DISBURSEMENTS BY FISCAL YEARS. .32 .29 .29 .27 .25 .24 .23 .23 .23 .24 .24 .23 .23 .23 .81 19,268,099 1917. $3,658,516,510 1,147,898,991 7,874,386,325 29.724,865 4,215,839,815 6,036,354 13,112,129 13,231,745 THE CARNEGIE FOUNDATION FOR THE ADVANCEMENT OF TEACHING. The Carnegie Foundation for the Advancement of Teaching was founded by Andrew Carnegie in 1905 and incorporated by the congress of the United States in 1906 for the purpose of providng retiring allowances for teachers and officers of universities, colleges and technical schools in the United States, Canada and Newfoundland, and, in general, of advancing the profession of the teacher and the cause of higher education. In the administration of its endowment, which now amounts to $15,000,000, the foundation has | restricted its allowances to professors and officers in a list of seventy-three institutions, selected for their educational standing, and has published a series of widely influential reports and bulletins concerning educational conditions. The president of the foundation is Henry S. Pritchett; its trustees are presidents of universities and colleges and financiers. Further information may be had by addressing the secretary, Clyde Furst. 576 5th avenue, New York. |