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W. P. G. HARDING, GoVERNOR
EX-OFFICIO MEMBERS
ALBERT
SECRETARY OF THE TREASURY
CHAIRMAN
JOHN SKELTON WILLIAMS
COMPTROLLER OF THE CURRENCY
STRAUSS, VICE Go~~N!1
~~~~~~scs.M~;~i~N
WILLIAM G. McADOO
FEDERAL RESERVE BOARD
WASHINGTON
:__
4
.ii .L
J. A. BRODERICK, SECRETARY
L. C. ADELSON, ASSISTANT SECRETAit-Y
W. T. CHAPMAN. ASSISTANT SECRETARY
W. M. IMLAY, FISCAL AGENT
ADDRESS REPLY TO
FEt>ERAL. RESERVE BOARD
December 5, 1918.
X-1299
SUBJECT: PUBLICATION OF PAR LISTS AND SUPPLEMENTS.
Dear Sir:
At the Transit Conference held in Chicago on November 12,
the foil owing prel k1inn.ry report of the Corrmittee on Time Schedules
was unanimously approved:
(a) The corr.mittee recorrmends that all time schedules be omitted
from the pat list published and distributed by the Federal
Reserve Board, and that each Federal Reserve Bank send its
ovm time schedule to its own members, ani to all other Federal
Reserve Banks and branches thereof.
(b) That the form of the pat list published by the Federal Reserve
Board be changed to show the natries of all banking towns 1 in
•vhich a par bank is locat~ct. in all cases 1 except .vhere all
banks in the entire state are collected by one Federal Reserve
Bank, or in tne case of a Federal Reserve Bank tJ±th branches,
where one branch collects the entire state. The narr.e of every
institution rerr.itting at par shall be listed, except where all
banks or all National banks in a town remit at par.
(c) That the Federal Reserve Banks should orrit from their lists of
additions for publication in the monthly suppletrients, the names
of banks in tovvns which already appear on the par list with the
designation) "All banks 11 •
(d) That the Federal Reserve Banks prepare copy for the semi-annual
par list and monthly supplen:ents to reach the Federal Reserve
Board not later than the 23rd day of the month preceding publication1 and that changes after the sending of copy, be telegraphed
to the Board 1 Up to and including the 27th) in corr,pliance with
~he Board's request.
(e) That the par list be published serr,i-annually on the first day of
January and July 1 and that supplements showing changes be published monthly as heretofore.
(f) That for the purpose of encouraging member banks in one district
to seud iterr.s in other districts direct to the Federal Reserve
Bank of the district in which the items are payable, each Federal
- 2 -
Reserve Bank should furnish printed instructions shoNing the
proper rrethod of preparing letters sent to them or their
branches. This infomation to be sent to direct sending llan:cs
in other districts at their request.
Subsequently the Conmittee submittt'ld the follo·;fing final report:
"Due consideration ·Nas given to tho proposal rr:ade at the
conference that the Par List be published in loose-leaf form,
corrections to be n:ade by :;:>rUting neN sheets to substitute fer
sheets upon Nhich changes r1era rrade. The neN sheets to show the
corrected list of banks. This form of Par L.i st Nas cleemed irr;practical and unsatiefactory for :he reason that if rrany changes
in the Par List Nere rradeJ it .vould necessitate reprinting a considerable portion of the Pal:' List each month and furthem,ore it
would be necessary for member banks in order to deterrrine which
banks had been rerr;oved f rorr; the Par List and. 'Ntich banks had been
added thereto to check the old sheets over carefully with the sheets
Nhich vvere being substituted.
11 The present f orrr, of Par List is considered perfectly
satisfactory, if the folloNing changes are rrade:
(1) "The State of New York to show either the na.rres of all
banks on the Par List or the ;:1anes of the banks which
are not on the Par List. (A specirr.en of the form suggested is attached hereto.) This form should also be
used for the following states: District·of Colurr.bia,
!v~ine, Massachusetts, New H;::..npshire, Rhcde Island and
Vemont.
(2) · HThe states of Connecticut and Nevv Jersay, Nhich are
divided betvveen two Federal Reserve Distn.cts, should be
printed in the Par List in the sarr,e rranner a.s the state
of Illinois now appears therein. (A specin.en sheet showing the form to be used for these two states is also attached,)
''~<Vhen these n:inor changes have been rrade the ConxLittee believes
trat the Par List Nill better SUJ?ply the inforrration required 'by
rr.ember banks, especially in cases Nhere rrerrber banks in one C:.istrict
elect to send direct to Federal Reserve Banks or branches located
in any other c1istricts. 11
This report has been approved by the Federal Reserve Board.
Please arrange to ;1ave data for the January full lJ.st subrr.itted to the
Board in duplicate not later than the rrorning of Decerrber 23rd. Copies of
sample sheets are inclosed.
·
Kindly acknoNledge receipt.
Very trv.ly yours,
The Gov arnor,
Federal Reserve BankJ
Secretary.
. ..
NEW
YORK
DIST?ICT NO. 2 ·• NEW YOR...T{
ALL BANKS
or
ALL BANKS EXCEPT THE FOLLQ~TING:
Auburn - - - - - - - - - -Edwin R. Fay & Sons
Wm. H. Stewart & Co.
Corning - - - - - - - - - Q.W. Wellington & Co 1 s Bank
This form also .to be used for the following states:
District of Columbia
Maine
Massachusetts
New Hampshire
Rhode Island
Vermont
,
.
X-1299-a
NE~ J E RS E Y
DISTRICTS NOS. 2 and 3 -
--
NE'~T
Belle'nood (7) - - All banks
Bellflower (7) - - Exehange bank.
Belvidere( 7)
- - - - All banks.
Bement (7)
- - - - - A l l banks.
All banks.
Benld (8)
- - Bensenville( 7)
- All banks.
Benson(?)
.All banks.
Benton(&)- - - - - - - All banks.
--------
YORK AND
PHIA
banh)
(7) - - - -All Nil t :tC'nal
Chillicothe
Chrisrr;an ( 7)
- - - .. All bank:J.
All banks .
Christopher (8) - - Cicero ( 7) - - - - All bar1ks.
Clarence ( 7) .All banks •
Clifton ( 7) - All banks.
All banks ..
Clinton ( 7)
Coal City ( 7) - - All b3.nks.
This form also to be used for
PHIL"~DEL
-
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Conn~tia~t.
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@FedFRASER