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F E D E R AL R E SE R V E B AN K OF N EW YORK 3 June 7, [ Circular No.19517 1 8 SATURDAY CLOSING OF BANKS IN UTAH To all Banking In stitution s in the Second Federal R eserve D istrict, and Others C oncerned: U nder the provisions o f a statute enacted by the Utah State L egis lature, a m a jority o f the banks in Salt Lake C ity and some banks in other parts o f Utah w ill rem ain closed on Saturdays during the months o f June, July, August, and Septem ber 1951. The Salt Lake City B ranch o f the F ederal R eserve Bank o f San F ra n cisco will, however, conduct essential banking functions on such Saturdays, except that, as there w ill be no clearing exchange on Saturdays, cash item s draw n on com m ercial banks in Salt Lake C ity w ill not be presented on those days. The availability o f credit fo r deferred-credit items, as provided in our time schedules, is not affected by the foregoin g. A llow ance should be made fo r possible delays in the presentm ent o f items drawn on or payable at banks closed on Saturdays in Utah, and in the advice o f dishonor and return o f unpaid items. A llan S proul, President.