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FEDERAL RESERVE BOARD , 708 WASHINGTON May 26, 1930 St. 6603 ADDRESS OFFICIAL CORRESPONDENCE T O T H E FEDERAL RESERVE BOARD SUBJECT: Special Daily Report for June 1930 Member Bank Vault Cash and. Currency in Transit. Dear Sir; The Commit tee* on Bank Reserves of the Federal Reserve System, in studying the cash holdings of njember "banks and their relation to the reserve problem as a whole, finds that available data are not sufficient to enable the Committee to obtain a comprehensive understanding of fluctuations in these holdings, especially those which occur from day to day during the week. The Committee, therefore, feels that it is highly essential that additional information be compiled along this line and requests that you have each member bank in your district report its cash holdings on each day of the month of June, 1930. It ia suggested that the information be collected on blanks similar to form St. 6601, attached to this letter. As it is our policy at the present timo to avoid publicity in connection with the work of the Committee on Bank Reserves, there is only a general indication on the form of $he purpose of collecting this information. It is felt that thsse figures wil-1 prove useful both to the Federal reserve banks and to the Federal Reserve Board in connection with current studies of recent changes in the public demand for currcncy, as well as to the Committee on Bank Reserves. In order that our information on this subject may be a6 complete as practicable, it is also requested that you arrange to have the cash department of your bank and of each of your branches report its daily currency shipments and receipts for the period June 1 to July 2, as called for in the attached form St. 6602, a supply of which is bein& sent you under separate cover. We shall appreciate very much your cooperation in placing form St. 6601 ia the hands of member banks as promptly as possible, and it will also be appreciated if you will see that the memorandum at the bottom of the form is properly filled out at your bank (or branch) beforfe the reports are sent to the Committee. Very truly yours, E. L. Smead, Chairman, Committee on Bank Reserves. Enclosures Digitized forTO FRASER ALL FEDERAL RESERVE AGEUTS* _City Hacie of member "bank State F. B. District Ho. St. 6601 Gentlemen: Will you kindly fill out on the following "blank the amount of cash held "by your "bank on each day during June 1930 and forward the completed report to this hank as soon after the end of the month as practicable. This request, which is being sent to all member "banks in order to ascertain what changes take place from day to day during the week in vault cash requirements of member "banks in different geographical regions, will aid the Federal Reserve Board materially in its current investigation into the changing demand of the public for currency. CASH IN VAULT (in dollars - omit cents) Monday June 1930 Tuesday Wednesday Thursday Friday Saturday Please enter the 2 3 4 5 6 7 actual amount of 9 10 11 12 13 l4 cash held by your 16 17 13 19 bank each day 23 24 25 during June 1930 30 ' 126 1 l 20 21 27 28 On date line in- 1 dicated. i Vault cash includes all gold, silver, and subsidiary coin, all paper currency held "by your "bank, "both at head office and "branches, and cash in transit "between head office and "branches at close of "business each day. Vault cash reported should not include cash items or currency in transit from or to Federal reserve "banks or "branches. MOTE; Federal Reserve Bank will please indicate whether currency is received "by member bank on day of shipment or on subsequent days as follows: i j Current day, including over the counter points | One day point Signed Two day point Cashier or Treasurer I ; Three day point <E © CO CURRENCY SHIPMENTS BETWEEN FEDERAL RESERVE BANK (OR BRANCH) OF AND MEMBER AND NONMEiiBER BANKS St. 6602 se en *er ^e^ow *n appropriate table the amount of currency, including coin and notes, shipped or received y the Federal Reserve Bank (or Branch) to or from member and nonmember banks on each day from J p e V to July 2, Separate tables are provided for receipts and for shipments, and for one day and two day points * respectively. As the purpose of this request is to supply information on the amount of currency in transit between member and nonmember banks and the reserve banks, counter payments and receipts and shipments reaching member banks or the Federal reserve bancs during banking hours on th* day of shipment, as well as receipts from and shipments to the Treasury, should not be included in these figures. June 1930 Monday Enter for *>ach 2 day total shipments of currency 9 to member and nonmember banks lb so situated that currency will be 23 received the following day I 130 1 , i Tuesday Wednesday Thursday Friday Saturday 3 4 5 6 7 10 11 12 13 14 17 18 19 20 21 24 25 26 27 28 i | 1 1 1 ! • ! i CHRHfUFCY SHIPMENTS—Two day points June 1930 Monday Enter for each j2 day total shipments of currency 9 to member and nonnjember banks 16 so situated that currency will be 23 , received on the second day fol30 lowing shipment - i. - — Tuesday Wednesday j Thursday Friday Saturday 3 i 10 !4 i 11 5 6 17 12 13 l4 17 16 19 20 21 24 25 2b 27 28 L ii ' 1 1 H<3 St. 6602a CURRENCY RECEIPTS—One day points Monday June 19JO Enter for each day total currency receipts from member and nonmember banks which were shipped the preceding day Tuesday Wednesday Thursday Friday Saturday 2 3 4 5 6 7 9 10 11 12 13* l4 16 17 18 19 20 21 23 24 25 26 27 28 30 July 1 . CURRENCY RECEIPTS--Two dajr points June 1930 Enter for each 2 day total currency receipts from 9 member and nonmember banks 16 which were shipped two days be- 23 fore receipt 30 Monday Tuesday Wednesday Thursday Friday Saturday 3 4 5 6 7 10 11 12 13 l4 17 IS 19 20 21 24 25 26 27 28 July 1 July 2 3 day points: If you have any 3 day currency points, please fill out a similar statement for shipments to and receipts from banks at such points. tt
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