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F E D E R A L R E S E R V E BANK
O F NEW YORK

r Circular No. 3 0 9 0 ~
l
L
May 23, 1946
J

SATURDAY CLOSINGS OF MASSACHUSETTS BANKS
DURING SUMMER MONTHS

To AU Banking Institutions in the Second Federal
Reserve District, and Others Concerned:

We have been advised by the Federal Reserve Bank of Boston that pursuant
to the provisions of Section 52 of Chapter 167 of the General Laws of the Common­
wealth of Massachusetts, as amended by Chapter 284 of the Acts of 1946, the Federal
Beserve Bank of Boston will remain closed on Saturdays during June, July, August
and September beginning June 1, 1946.
Accordingly, pursuant to our time schedules, credit which would otherwise be
given on any such Saturday for cash items, drawn on banking institutions located in
Massachusetts and forwarded to the Federal Beserve Bank of Boston for collection,
will be given on the next business day, and any such Saturday will not constitute a
business day in determining the time when credit will be given for deferred credit
items drawn on banks located in the First Federal Reserve District.
In view of the fact that the Federal Reserve Bank of Boston and other banks in
Massachusetts will remain closed on Saturdays during the months stated above, there
may be a delay in the return of many dishonored cash items and in our advice to you
of the nonpayment of such items.




A

llan

S proul,

President.

FED ERAL RESERVE BANK
O F NEW YORK

Circular No. 3 0 9 0
as amended
May 24, 1946

[
SA TU R D A Y CLOSINGS OF MASSACHUSETTS BANKS
D U R IN G SUMMER M O N TH S

To All Banking Institutions in the Second Federal
Reserve District, and Others Concerned:

We have been advised by the Federal Reserve Bank of Boston that pursuant
to the provisions of Section 52 of Chapter 167 of the General Laws of the Common­
wealth of Massachusetts, as amended by Chapter 284 of the Acts of 1946, the Federal
Reserve Bank of Boston will remain closed on Saturdays during June, July, August
and September beginning June 1, 1946.
In view of the fact that the Federal Reserve Bank of Boston and other banks in
Massachusetts will remain closed on Saturdays during the months stated above, there
may be a delay in the return of many dishonored cash items and in our advice to you
of the nonpayment of such items.




A

llan

S proul,

President.

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