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FEDERAL RESERVE BOARD
WASHINGTON
X-3333
February 18., 1922.
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SUSJECT:
Monthly R<Jpo:~ts of Claaring Cpsrations and of
Member and Non-member Banks in District,
Forms 170 and 170-a.
Dear Sir:
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The Board has experienced considerable difficulty
in obtaining reports relating to clearing operations from
some of the Federal Reserve Banks in time to have them tabulated and sent to the printer with the manuscripts for the
monthly Federal. Reserve iluJ_letins, thus necessi tatint:, considerable changes in the 0 alley 1 and sometimes in the page
proof. It has been decided, therefore,~ to sho·w, figurss of
clearing operations by calendar months in the future.
Accordinoly, it is requested that rerorts be furnished on forms 170 and 170-a for the period from February
1 to February 261 inclusive, in addition to reports for the
period from January 16 to February 15, and that subsequent
reports be made for calendar months. It .will also be appreciated if you will furnish us with reports on the above forms
for the month of January 1922, in order that figures by
calendar months may be available for the entire year.
Very truly yours,
G o v e r n o r.
TO ALL FEDEHJIL
RESE~VE
.AGENTS.
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X- 3334a
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A GILL.
A DILL to be entitled AN PCT to require all
bar~s
and banking
institutions incorporated under and by virtue of the laws of Geor 6 ia
to become members of the Federal Reserve Bank; to provide for a for-
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feiture of charter and liquidation of assets for the failure or refusol
to comply with the terms of this ACT i to provide when this Act shall
be of force and effect, and for other purposes.
Section 1.
Be it enacted by the General Assembly of Georbia 1 and it is
hereby enacted by the authority of the same 1 that all banks and bankin 6
institutions incorporated under and by virtue of the la#s of Georgia
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are hereby required to become members of the Federal rteserve Bank as
provided under the law·s of the Congress of the United States.
Section 2.
oe it further enacted by the authority aforesaid, that any and
all banks and bankin£:, insti tut:l..ons fail ine;, and refusing to become
members of the Federal Reserve dank shall forfeit its charter, and tha
Superintendent of
~anks
iu the State of Georgia is hereby directed and
authorized to take charge of the assets of such bank, close up the same
a~d
liquidate the assets of the same.
Section 3.
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Be it further enacted by the authority aforesaid, tnat this ACT shall
take effect and be of f"J.ll force on and after January 1st, 1924,
Section 4.
Be it further enacted by the authority afore said, that all la;;s and.
parts of laws in conflict with this ACT be and the same are hereby repoahd.
@FedFRASER