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FEDERAL RE SER VE BANK
OF NEW YORK
Circular N o. 3 5 9 3

[ September 25, 1950 J

~[

Shipments o f Coin to T his Bank During the
Present Railway Express Embargo

To all Member and Nonmember Banks
in the Second Federal Reserve District :

W e h a v e b e e n in fo r m e d t o d a y b y th e R a ilw a y E x p r e s s A g e n c y , In c ., th a t it h a s im p o s e d
a n e m b a r g o 011 a ll e x p r e s s s h ip m e n ts c o n s ig n e d to a n d f r o m N e w Y o r k C it y a n d v ic in it y .
P a r a g r a p h 11 o f o u r O p e r a tin g C ir c u la r N o . 3, R e v is e d S e p te m b e r 23, 1949, e n title d “ P a p e r
C u r r e n c y a n d C o in ,” r e a d s :
11. A ll coin shipments should be sent by express, charges collect, except that a bank located in a
city or town in which express facilities are not available may ship coin by insured fourth-class mail.
The amount o f coin contained in each bag shipped by insured fourth-class mail should not exceed
$200, and the address tag attached to each such bag should be endorsed ‘ *Exam ined at mailing office—
Contains only fourth-class m ail.” Our Form C.CGr.28 should be executed, and all copies should be
mailed to us under separate cover at the time o f shipment.
D u r in g th e p e r io d

o f th e e m b a r g o , s h ip m e n ts o f c o in s h o u ld be se n t to u s b y in s u re d ,

fo u r t h -c la s s m a il a n d w e w ill a b s o r b th e e x p e n s e o f a n y n e c e s s a r y s h ip m e n ts o f su ch c o in b y
th is m e th o d . I 11 o r d e r to k e e p a t a m in im u m th e e x tr a e x p e n s e o f s h ip m e n ts o f c o in to u s, b an k s
a re

u rg ed

to

r e f r a in

w henever

p o s s ib le

f r o m s e n d in g s u ch c o in d u r in g th e p e r io d o f the

e m b a r g o , a n d to o b s e r v e th e p r a c t ic e o f in t e r c h a n g in g c o in a m o n g th e m s e lv e s lo c a lly w h e n e v e r
fe a s ib le .
W e w ill n o t i f y y o u p r o m p t ly w h en e x p r e s s s h ip m e n ts o f c o in to u s s h o u ld b e re su m e d .




A

llan

S

proul,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102