Full text of District Notices (Federal Reserve Bank of Dallas) : [New York and New Jersey Banks will Close on Saturdays During Summer Months]

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F ederal

reserve

Ba n k

OF DALLAS

Dallas, Texas, May 1,1946

To the Member and Nonmember Clearing Banks

in the Eleventh Federal Reserve District:

We are advised by the Federal Reserve Bank of New York that the laws
of the State of New York, as amended, relating to holidays, provide that
banks located in that State may remain closed on Saturdays during June,
July, August, and September. Accordingly, the Federal Reserve Bank of
New York, including its Buffalo Branch, will be closed on each Saturday
during June, July, August, and September, 1946.
We are also advised that, pursuant to the Revised Statutes of New Jer­
sey, Saturdays from the first day of May to the thirtieth day of September,
1946, both inclusive, will be holidays in New Jersey.
Due consideration should be given to the Saturday closing referred to
with respect to transfers of funds to and from banks in those states, as
well as to cash items payable at banks located therein.
Attention is also called to the possibility that there may be a delay in
the return of dishonored cash items and in advices of the nonpayment of
such items as a result of the Saturday closing mentioned herein.

Yours very truly,
R. R. GILBERT
President

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)