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EX-OFF!CIO MEMBERS W. P. G. HARDING. GoVERNOR ALBERT STRAUSS, VICE GOVERNOR CARTER GIJII;S • • ADOLPH C. MILLER CHARLES S. HAMLIN SECRETARY OF THE TREASU!tY CHAIRMAN JOHN SKELTON WILLIAMS FEDERAL RESERVE BOARD COIIP'TROLLER OF THE CURRENCY J. A. BRODERICK. SECRETARY W. T. CHAPMAN, ASSISTANT SECRETARY W. M. IMLAY, FISCAL AGENT WASHINGTON ADDRESS REPLY TO FEDERAL RESERVE BOARD J1llle 4, 1919. X-1562 SUbject:Gold Settlerr~nt Clearings by Denver and Omaha Branches of the Federal Reserve Barik of Kansas City~ Dear Sir: We confirm our wire to you today as follows: 11 Denver and Omaha Branches of Federal Reserve Bank of Kansas City will commence settling direct through the Gold Settlement Fund eff~ctive statercents J"-une 14th clee.ring ~une i6th. Accounts with Denver' and Orr.aha Branches ,,.ill be haridied in accordance with our letter of May 8th, X-).524, in re Baltimore Branch settling direct. ~ill letter instructions being mailed today. Kindly a~knvwledge by wire. " The Federal Reserve Baclc of Kansas City has req~ested that arrangements be made to have their Branches at Denver and Omaha commence settling direct through the Gold Fund Clearing with other Federal Reserve Banks and their Branches which are now settling direct in the same manner as is now in effect between Federal Reserve B~r~s and a rnuGber of their Branches. Accordingly, beginning on June 16th and on ever~· sattlerr£nt day thereafter, the Denver and Omaha Branches, in addj tlm: to Fa."lsas City Head Office, will telegraph to the Federal Reserve Bc.ar.;!, code IJJlEG, their credits for other Federal Reserve Banks and d!rect-sett.ling Branches as at close of business the previous day to be settled thr0ugh the daily Gold Fund Clearing. The Board will include in the daily BEPEG telegram to .other Federal Reserve Banks and· direct-settling Branches the cr·edi ts of Denver and Omaha as well as Kansas City, as follows: Kansas City Denver Omaha amount amount amount and the Denver and Omaha Branches will render to each Federal Reserve Bank and Branch, settling direct through the gold fund, daily mail transcripts supporting credits· as settled through the fund. The Federal Reserve Bank of Kansas City desires that all credits in Denver and Omaha territory, i~mediately due or deferred, maturing • June ll+tb and thereafter be credited through the Gold Settlement Fund · ' to Denver and O~a Branches .. The Federal Reserve Banks and those Branches settling direct through the Gold Fund are requested, therefore, to epen 350 ..... -2- accounts with Denver and Omaha Branches at such time as will permit credits for the respective Branch becoming available June 14th and thereafter; and to wire to the Board, code LABEG, the amou::1t of such credits for the .June 16th Gold Fund Clearing and for each daily clearing thereafter. They will also render to Denver and Omaha Branches daily mail transcripts supporting credits thus settled through the Gold :F-..1..11d Clearing. It is also requested that all deductions from credits for return items, errors, differences, etc. be made in settlement with whichever bank (Kansas City, Denver or Omaha) the o~iginal item was settled. Please note that new system is effective statements as of close of business June 14th. clearing June 16th. Kindly advise your Branches and acknowledge receipt of this letter. 'Jery t.culy· yo•~rs, Assistant Secre<ta.ry .. Letter sent to Governors of all Fed.eral Reserve Banks.
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