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FEDERAL RESERVE BOARD 150 WASHINGTON The telegram given below is hereby confirmed. Assistant Secretary. March 20,1919. X-1435 Federal Reserve Bank of A t l a n t a r e q u e s t s t h a t arrangements be trade t o have New Orleans branch commence s e t t l i n g d i r e c t through Gold S e t t l e ment Fund with o t h e r Federal Reserve banks in same manner as now in e f f e c t between Federal Reserve banks and branches of S t , Louis and San Francisco. Beginning April 2nd and every settlement day t h e r e a f t e r New Orleans branch in a d d i t i o n to A t l a n t a head o f f i c e , w i l l t e l e g r a p h t o Board code Labeg i t s c r e d i t s f o r o t h e r Federal Reserve banks a s a t c l o s e of business previous day f o r settlement through daily gold fund c l e a r i n g . New Orleans branch w i l l render s e p a r a t e l y t o each Federal Reserve bank and branch s e t t l i n g d i r e c t through Gold Fund, d a i l y mail 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 . Board w i l l include in d a i l y Bepeg telegram t o o t h e r reserve banks c r e d i t s of New Orleans branch as f o l l o w s : Atlanta amount New Orleans amount Federal Reserve banks a r e requested t o Opett s e p a r a t e acdotint with t h e New Orleans branch of A t l a n t a on April 1 s t and wire Board, code Labeg, f o r April Snd gold fund c l e a r i n g amounts of c r e d i t s f o r He.v Orleans branch of A t l a n t a and t o render t o t h i s branch d a i l y mail t r a n s c r i p t s supporting c r e d i t s so reported in gold fund c l e a r i n g . Please note t h a t old sjrstem w i l l c o n t i n u e , - Statement March 31st Clearing April 1 s t , new plan, e f f e c t i v e , statements A p r i l 1 s t , c l e a r i n g April 2nd, A t l a n t a bank suggests t h a t a l l deduction of d i f f e r e n c e p r i o r t o April 1 s t be made in settlement with A t l a n t a bank d i r e c t . Please acknowledge r e c e i p t by wire* BRQDERICK
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