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W. EX OFFICIO MEMBERS P. G. H A R D I N G , GOVERNOR E D M U N D A D O L P H DAVID F. HOUSTON SECRETARY OF THE TREASURY CHAIRMAN J O H N SKELTON FEDERAL RESERVE BOARD WILLIAMS COMPTROLLER OF THE CURRENCY H E N R Y PLATT.VICE GOVERNOR C. M I L L E R C H A R L E S S. HAMLIN A. M O E H L E N P A H W . T. C H A P M A N , SECRETARY R. G . E M E R S O N , ASSISTANT SECRETARY A D D R E S S R E P L Y T O FEDERAL RESERVE BOARD WASHINGTON W . November 22,1920, Subject: M. IMLAY, FISCAL AGENT X-2C64 Commercial Telegrams Chargeable t o the Federal Reserve Board. Revised Method of Accounting* Bear S i r : R e f e r r i n g t o the Board's l e t t e r s X-l6ll (July 9 / 1 9 1 9 ) and X-1697 (Octj 10, 1919) wherein i n s t r u c t i o n s were t r a n s m i t t e d concerning the method of p r e p a r i n g o f f i c i a l telegrams t o be t e n t fever the commercial w i r e s f o r account oi t h e Federal! Reserve Boardj you a r # advised t h a t a t the r e q u e s t of t h e Western Unidti Telegraph Company and the P o s t a l T e l e graph Cable Company the Federal Reserve Board Has agrded to a r e v i s i o n of the method of s e t t l e m e n t f o r s e r v i c e s performed and the f o l l o w i n g arrangement w i l l become e f f e c t i v e December 1, 1920: (a) Telegrams sent v i a Western Union or P o s t a l Telegraph t o t h e Federal Reserve Board " c o l l e c t " w i l l be paid f o r by t h e Federal Reserve Board a t Washington. (b) Telegrams via Western Union or Postal Telegraph sent "paid" or received " c o l l e c t " by Federal Reserve Agents on Federal Reserve Board business w i l l be b i l l e d monthly by t h e Telegraph Companies a g a i n s t t h e r e s p e c t i v e Federal Reserve Agents, f o r account of t h e Federal Reserve Board, a t Government r a t e s . These telegrams w i l l be assembled by the l o c a l r e p r e s e n t a t i v e s of the Telegraph Companies i n the r e s p e c t i v e Federal Reserve c i t i e s and t r a n s m i t t e d monthly with b i l l s and Federal Reserve Board vouchers t o t h e Federal Reserve Agents. The Federal Reserve Agents w i l l examine and c e r t i f y t o t h e c o r r e c t n e s s of the b i l l s and forward them t o the Board by r e g i s t e r e d m a i l . The Board w i l l make payment d i r e c t t o t h e Telegraph Companies1 l o c a l r e p r e s e n t a t i v e s i n each of the Federal Reserve C i t i e s . IN EXPLANATION OF THE FOREGOING: 1. Telegrams covered by s e c t i o n (a) when sent over Western Union or Postal Telegraph Cozrpany w i r e s addressed to t h e Board a t Washington should bear the n o t a t i o n - " O f f i c i a l Business, Collect Government Rates, Federal Reserve Board." 1C70 -2— X-2C64 2. Telegrams covered by s e c t i o n (b) when sent by t h e Federal Reserve Agents on Federal Reserve Board business should bear the n o t a t i o n - " O f f i c i a l Business, Paid Government Rates, Charge Federal Reserve Agent" (give the name of the Federal Reserve C i t y ) . When sent by Clearing House managers t o the Federal Reserve Agents, on Federal Reserve Board business, they should bear the n o t a t i o n " O f f i c i a l business, Collect Government r a t e s " , 3* B i l l s and vouchers with messages must the Board by r e g i s t e r e d mail, f o r the ment i s madb on o r i g i n a l telegrams or and t h e i r l o s s in the n a i l would make ment by t h e Board. be forwarded to reason t h a t s e t t l e water copies only, impossible a s e t t l e - I t w i l l be noted t h a t t h e foregoing arrangement r e f e r s only t o o f f i c i a l telegrams t r a n s m i t t e d o f , r e c e i v e d f o r account of the Federal Reserve Board, and t h a t i t does not p e r t a i n t o telegrams on Bank business* Under the order of the Postmaster General, dated July 1, 1920, Government domestic telegrams a r e s u b j e c t i n a l l r e s p e c t s t o t h e p r e v a i l i n g commercial count of chargeable words, and the. a d d r e s s and s i g n a t u r e of a domestic telegram a r e t r a n s m i t t e d f r e e , i n accordance with t h e commercial p r a c t i c e . The charge f o r a Government domestic telegram i s 1+0$ of the p r e v a i l i n g commercial charge f o r t h e same c l a s s of s e r v i c e , with a minimum charge of 2$^ f o r a day telegram, 20^ f o r a n i g h t t e l e gram, 30^ f o r a n i g h t l e t t e r , and 45^ f o r a day l e t t e r . The Telegraph Companies w i l l t r a n s m i t i n s t r u c t i o n s t o t h e i r l o c a l r e p r e s e n t a t i v e s i n each Federal Reserve City, and you a r e requested t o communicate with them a s t o the d e t a i l s of the p l a n . They w i l l a l s o f u r n i s h copies of a l l l o c a l commercial t a r i f f s , e t c . There i s enclosed f o r t r a n s m i t t a l t o t h e l o c a l r e p r e s e n t a t i v e s of the Telegraph Companies a supply of Federal Reserve Board Voucher #52. Very t r u l y yours. Enclosures. A s s i s t a n t to Governor, To Chairmen of a l l F.R, Banks,
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