Salt Lake Telegram | 1927-01-06 | Page 5 | Reserve Banks' Profits Swell

RESERVE BANKS BANKS' PROFITS SWELL WASHINGTON WASHl Tan 6 APi AP The twelve Federal Reserve tanks almost almo L doubled their net earnings last year with profits of as against for 1925 Gross Gross' Gross earnings earnings of the banks forthe for forthe the year were or about more than for 1925 The banks of Boston Richmond Minneapolis and Kansas City paid into the treasury as Iran fran franchise chise taxes while the net net- earnIngs of the eight other banks banks' were to their surplus accounts accounts' ac- ac counts counts' The total subscribed cal lal itai of the twelve banks on January I 1 was and combined surplus acc accounts were