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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 egisĀ­
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.

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