66

BANKING STANDARDS
TABLE 154
DISTRICT AND YEARS FOR WHICH RATIOS OF OPERATION ARE
AVAILABLE FOR INDIVIDUAL MEMBER BANKS

RATIOS

1922.
£923. .
1924.
1025

YEARS

Gross Earnings
to
Earning Assets

Boston
Boston

Total Expense
to ’
Earning Assets

Boston..............
Boston and New York
Boston and New York
Boston and New York

Net Earnings
to
Earning Assets

Boston
Boston

average of five Calls, two of which are in December—one of
them for December 31 of the preceding year and the other for
December 31 of the calendar year under review.”?

2. Gross Earnings. This item is “the total of Section 1 in the
semiannual report of earnings, expenses and dividends made to
the Comptroller of the Currency, and consists . . . . of
interest and discounts on loans, interest (including dividends)
on investments, interest on balances in other banks, domestic
exchange and collection charges, foreign exchange department,
commission and earnings from insurance premiums, and the
negotiation of real estate loans, trust department and other
earnings. . . . . The period covered is the sum of the first
six months of the calendar year, plus the second six months of
the calendar year, the data being compiled from two semiannual
reports.’’2

3. Total Expense. This is the total of the items “comprising
Section 2 in the semiannual report of earnings, expenses and dividends
 made by national banks to the Comptroller of the Currency
 and includes, in accordance with that ‘schedule, salaries
and wages, interest and discount on borrowed money, interest
on bank deposits, interest on demand deposits, interest on time
deposits, taxes, and other expenses. And, as in the case of gross
earnings, total expenses cover two semiannual periods, represented
1 Extract from a letter from H. R. Bowser, Manager of the Financial Statistics
Division, Federal Reserve Bank of Boston.
2 Ibid.