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The BOARD 0F DIRECTORS ARTHUR ANDERSEN Arthur Andersen and Company_ SEWELL L. AVERY Presidenit United States Gypsum Co. SCOTT BROWN Attorney, NELSON L. BUCK Vice Presdent Wm. Wuiley, Jr. Company ROBERT.W. CAMPBELL Associete Counsel, Knaýpp, Beys, Allen, Cochron &Cushing WILLIAM A. DYCHEÈ Chairman of, Boord WILLIAM EASTMAN Vice President Blakely. Printing Company AUGUSTUS KNIGHT BarttttrKnight & conmpany JAMES F. OATES Hobart & Oates, Gênerai Agents North- western Mvutual Life Insurance Company C. H. POPPENHUSEN Poppenhusen, 'Johnstoin, Thompson, & Cole F. J. :SCHEIDENHELM. Vice Churman of Board PHILIP R. SHUMWAY Preident, Paper Mills Company G. H. TOMLINSON Viée Prosident T RESOURCES' Cash............ . ...................... .......$ Currency, coin aiid reserves with legal depositories U. S. Government Securities..... .............. Commercial Paper and Other, Notes .......... * Short time notes of firmsl;and individuals iimediately exchanigea4le for currency through rediscount at *'the Federal Reserve Bank Cal Loansand:OtherLoans Against Readily Marketable Collateral...................... *Secured, by collateral of greater value than the loans, and payable upon cail or upon short notice Other M retbe Bonds .......... ..... M unicipal, Railroad and other highi grade and easily salable securities 3,008,798.!2 640,192.45 650,000,00 1,559,678.05 .1,647,590.39 TOTAL FJNDS CON VERTI BLE INTO CAS14 ON SHORT NOTICE......>............. $ 7,506,259.01 Dcntand land Short Time Loans to Customers..... ...... . 2,054,360.46 Loans amply secured .and blans to bank's custorners about ,whose,'financial condition the ban k is:accurately informed Real Estate Mortgage Loans............. ........ 1,640,512.15 Represenitinig first mortgages oti high grade-improved North Shore properties with a wide margin of ýsecurity in eacb case Stock i Federal Reserve Bank.............. ....... 30,000.00 Giving the safety of membership thereini Banik Building and Leasehold ...... ...... 570,000.00 Represents an extreinely conservative valuationi of our buildinig and leaseholdi Customers' Liability 'Under Letters of Credit 34,400.00 This asset is ýsecured, by, adequate, collateràl .anid re- s ponisible guaranitors>. Other Assets........................ ............. 98j755.93 TOTAL RESOURCES ..................... 1,328S Deposits LESS LIABILITI9S tanding........... H[HU3I~U~. FE ZDLR A L R E s EIRVY YSýTLS 5 7 Yea rsof Servi.ce. to t h e No rth Shore