The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F E D E R A L RES ERVE B A N K Circular N o. 4 0 OF DALLAS Series of 1920 November 9, 1920. PAYMENT OF EXPENSES INCIDENT TO COIN SHIPMENTS (Superseding all Previous Circulars on This Subject) TO T H E M EM BER B A N K A D D R E SS E D :— In keeping with the desire to extend, wherever opportunity offers, further facilities to member banks, the Federal Reserve Board has authorized us to pay charges incident to the transfer of sub sidiary silver and minor coin to and from the Federal Reserve Bank of Dallas, including its El Paso and Houston Branches. INCOMING SH IP M E N T S Transportation costs in connection with coin shipments to this bank, or its branches, will be absorbed, providing the following conditions are observed in the preparation of shipments, and when shipments are forwarded by express, charges collect: Coins to be shipped L O O SE in cloth bags O N L Y ON E D E N O M IN A T IO N IN A N Y ON E BAG. Not more than $1000.00 in silver coin, $250.00 in nickels, or $100.00 in pennies to be shipped in any one bag. No foreign or mutilated coin, or coin to which paper, or any other substance is at tached, or upon which any name or advertisement is stamped or impressed, will be accepted. Coin is mutilated when punched, clipped, chipped, or otherwise appreciably reduced in weight by any means except natural abrasion. Coin not mutilated, but defaced otherwise than above described, where it can be clearly identified as to denomination and genuineness, will be accepted. W ith each shipment must be enclosed a letter giving an inventory of contents, the name and location of the sending bank and stating the disposition desired to be made of the proceeds. A copy of that letter should be forwarded by ordinary mail, addressed to our Auditing Department, on the same date the shipment is made. OUTGOING SH IPM ENTS The Federal Reserve Bank o f Dallas and its branches will endeavor to maintain at all times a sufficient supply of subsidiary silver and minor coin to meet the ordinary demands of its members. Shipments will be forwarded by express, charges prepaid, if the city to which the shipment is con signed has express facilities. If it has not, shipment will be forwarded by parcel post, insured, and the expense of postage and insurance will be absorbed by the Federal Reserve Bank of Dallas, or its branch making the shipment. SH IPM ENTS TO NON-M EM BER BANKS AT TH E REQUEST OF MEMBER BANK S W hile subsidiary silver, and minor coin, will be shipped to non-member banks at the request of member banks, the Federal Reserve Bank of Dallas and its branches will not absorb the expense in cident to transportation and insurance. T H E PRO VISIO NS OF TH IS CIRCULAR ARE SUBJECT TO M ODIFICATION AT ANY TIM E, OR TO W ITH D R A W A L UPO N REASO NABLE NOTICE. Respectfully, Governor. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER