OCR Text |
Show Federal Reserve Banks Growing Washington The twelve federal reserve re-serve banks almost doubled their net earnings last year, with profits of $16, -610.000, as against 9,450.000 for 1925. Gross earnings of the hunks for the year were $47.B(MiO,000 or about $5,-8000.000 $5,-8000.000 more than for 1925. The banks of Boston, Richmond, Minneapolis and Kansas City paid $S1S,150 Into the treasury as franchise taxes, while the net earnings of the eight other banks were transferred to Iheir surplus accounts. ac-counts. The total subscribed capital of Ihe twelve banks on January 1 was i $219,628,000 and combined surplus accounts ac-counts were $22S,775,000. |