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31 Ex-Officio m e m b e r s W . P . G . H A R D I N G . GOVERNOR A L B E R T S T R A U S S . VICE GOVERNOR ADOLPH C. MILLER C H A R L E S S. H A M L I N CARTER GLASS SECRETARY OF THE TREASURY CHAIRMAN JOHN SKELTON WILLIAMS COMPTROLLER OF THE CURRENCY FEDERAL RESERVE BOARD J . A . B R O D E R I C K , SECRETARY W . T . C H A P M A N . ASSISTANT SECRETARY w . M. I M L A Y . FISCAL AGENT a d d r e s s WASHINGTON r e p l y FEDERAL January 7,1919, t o RESERVE BOARD X-1354 SUBJECT: Geld Settlement Clearings by Branches cf Federal Reserve Bank of S t . L o u i s . Ifear S i r : be trade terophis lfederal Ibderal The Federal Reserve Bank cf St-Louis has requested t c have t h e i r three tranches located a t L i t t l e Rock, commence s e t t l i n g d i r e c t through the Gold Settlement Reserve Banks in the same manner a s t h a t which i s in Reserve Banks and the San Francisco branches. t h a t arrangements L o u i s v i l l e and Fund with other e f f e c t between Accordingly, on February 3rd and every settlement day t h e r e a f t e r , Louisville, Memphis and L i t t l e Rock branches, in a d d i t i o n to the St.Louis head o f f i c e , w i l l telegraph to the Federal Reserve Beard, code Labeg, t h e i r c r e d i t s f o r other Federal Reserve banks as a t close of business the previous day to be s e t t l e d through the d a i l y gold fund c l e a r i n g . The four o f f i c e s of the St.Louis bank w i l l render s e p a r a t e l y to each Federal Reserve bank and branch s e t t l i n g d i r e c t through the gold fund> d a i l y trail t r a n s c r i p t s supporting c r e d i t s s e t t l e d through t h e fund. The Board w i l l include in the d a i l y Bepeg telegram to other Reserve banks c r e d i t s of the St.Louis o f f i c e s as follows: St.Louis L i t t l e Rock Louisville Memphis amount amount amount amount The Federal Reserve banks a r e requested t o open s e p a r a t e accounts with the f o u r o f f i c e s cf the St.Louis bank on February 1st and wire the Board, code Labeg, f o r t h e February 3rd gold fund c l e a r i n g , amounts of c r e d i t s f o r each of the four o f f i c e s of the St.Louis Bank, and to render to each o f f i c e daily mail t r a n s s r i p t s supporting c r e d i t s ao reported in t h e gold fund c l e a r i n g . Please note t h a t the old system w i l l continue, - statements as of January 31st, c l e a r i n g , February 1 s t ; new plan e f f e c t i v e , - statements February 1 s t , c l e a r i n g February 3rd, R e f e r r i n g t o our telegram of December 7,1918 giving form f o r r e p o r t ing d a i l y Labeg telegram, please show amounts f o r S&.Lauis branches following amount f o r St.Louis as follows: L i t t l e Rock Louisville Memph i s amount amount amount Kindly a d v i s e branches and acknowledge r e c e i p t . Very t r u l y yours, Assistant Secretary.
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