SCHEDULE 24.-State banks and trust companies in the Third Federal Reserve District admitted to membership in the Federal Reserve system. Name of bank. 1. Girard Trust Co., Philadelphia, Pa.... 2. Miners Deposit Bank, Lykens, Pa.. 3. Philadelphia Trust Co., Philadelphia, Pa.. 4. Commercial Trust Co., Philadelphia, Pa. 5. Camden Safe Deposit & Trust Co., Camden, N.. 6. Wilmington Trust Co., Wilmington, Del... 7. Pennsylvania Co., Philadelphia, Pa.. 8. Fidelity Trust Co., Philadelphia, Pa.. 9. Dime Deposit Bank, Wilkes-Barre, Pa... 10. Security Trust & Safe Deposit Co., Wilmington, Del. 11. Markle Banking & Trust Co., Hazleton, Pa.... 12. Rittenhouse Trust Co., Philadelphia, Pa... 13. Cambridge Trust Co., Chester, Pa... 14. Williams Valley Bank, Williamstown, Pa.. 125,000 50,000 15. Dauphin Deposit Trust Co., Harrisburg, Pa... 45,000 16. Gloucester City Trust Co., Gloucester City, N. J. 18. Princeton Bank & Trust Co., Princeton, N. J. 17. Provident Life & Trust Co., Philadelphia, Pa.. 100,000 25,000 2,000,000 5,000,000 100,000 19. Bank of Commerce, Philadelphia, Pa. 150,000 20. West Philadelphia Title & Trust Co., Philadelphia, Pa. 21. Colonial Trust Co., Philadelphia, Pa.. 500,000 272, 725 22. American Bank of Commerce, Scranton, Pa.. 272,725 312, 987 23. Equitable Trust Co., Wilmington, Del.. 34,480 25. Swedesboro Trust Co., Swedesboro, N. J. 24. Drovers & Merchants Bank, Philadelphia, Pa.. 26. Northern Central Trust Co., Williamsport, Pa. 20,000 $37,423,775. 82 23, 731, 531. 48 10, 271, 978. 37 4, 154, 985. 28 2,910, 197. 41 378, 027. 41 3,693, 216.23 540,986. 29 615, 174. 43 27. Susquehanna Trust Co., Williamsport, Pa. 28. Logan Trust Co., Philadelphia, Pa.......... 29. Wayne County Savings Bank, Honesdale, Pa. 1 Exclusive of Government deposits. SCHEDULE 25.-Philadelphia clearing-house members, 1918. 500,000 150,000 2,631, 339.68 2,029, 433. 60 SCHEDULE 26.-Subscriptions to the four Liberty loan issues. SCHEDULE 26:-Subscriptions to the four Liberty loan issues-Continued. SCHEDULE 27.-Number of banks and of other subscribers, also amounts subscribed to certificates of indebtedness. SCHEDULE 28. BANK CLEARINGS PHILADELPHIA FEDERAL RESERVE DISTRICT JAN FEB MAR APR MAY JUNE JULY AUG SEPT|OCT NOV DEC DISTRICT NO. 4-CLEVELAND. D. C. WILLS, Chairman and Federal Reserve Agent. RESULTS OF OPERATION. Gross earnings of the Federal Reserve Bank of Cleveland during the year just past have amounted to $5,226,000, or more than $100,000 per week. The expenses, including expense of branches, this district's proportion of Federal Reserve Board expense, cost of Federal Reserve currency, and all items of equipment (which have been charged uniformly to current expense) have been a little less than $1,000,000. On June 1 a dividend was paid for the period beginning July 1, 1917, to date, thus completing the payment of all accumulated dividends, and the regular dividend was paid on December 31. After setting aside a reserve sufficient to meet all depreciation of assets, the sum of $1,776,000 was transferred to surplus account, and a like amount reserved for the payment of franchise tax provided for in the Federal Reserve Act. Schedule 1, appended hereto, shows the balance sheet for December 31, 1918, with comparative figures for December 31, 1917. Schedule 2 shows the principal charges and credits to profit and loss account for 1918 as compared with 1917. Schedule 3 shows the gross earnings classified according to principal sources of revenue by months, together with the expenses and net earnings, and the same data appear in graphic form in chart 1. Schedule 4 shows the daily average of earning assets divided into the principal sources of revenue, with the total earnings and the average rate on each principal class of investments, and also the rate of gross and net earnings to daily average capital for the years 1918 and 1917, respectively. Schedule 5 shows the total volume of loans, discounts, and investments, divided into principal classifications, for the year 1918 as compared with 1917. GENERAL BUSINESS AND BANKING CONDITIONS. At the beginning of the year the transition of business from a peace to a war basis had not been accomplished, and it was not fully realized that all energies must, of necessity, be devoted to the pro |