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F e d e r a l r e s e r v e B a n k OF DALLAS Dallas, T exas, Jan u ary 8, 1951 To the Member and Nonmember Clearing Banks of the Eleventh Federal Reserve District: C opies o f th e fo llo w in g bulletin s o f this bank are tra n sm itted h e r e w ith : B u lletin N o. 6 en titled “ T r a n s fe rs o f F u n d s,” rev ised e ffe ctiv e Jan u ary 12, 1951. B u lletin N o. 8 en titled “ C ollection o f C ash Ite m s,” rev ised effe ctiv e Jan u a ry 12, 1951. T h e on ly ch a n ges in B u lletin N o. 6 relate to th is b a n k ’ s p o licy o f han dlin g telegra p h ic tra n sfers o f bank balances in m ultiples o f $1,000. U n d er th e term s o f th e revised bulletin su ch tra n sfe rs w ill be h andled in am ou nts o f $1,000 o r over. B ulletin N o. 8 has been rev ised to g iv e e ffe ct to th e u n ifo rm a ction o f th e F ederal R eserv e banks in red u cin g fr o m th ree to tw o d ays th e m a xim u m p eriod o f d e fe rm e n t o f cre d it f o r cash item s. A cc o rd in g ly , effectiv e Jan u ary 12, 1951, th e F ed eral R e se rv e B anks w ill cred it m em b er and n on m em b er clea rin g banks w ith in tw o b u siness d ays o r less f o r all cash item s d ep osited w ith th em f o r collection . Item s w h ich h ave h e re to fo r e been handled f o r im m ediate cred it or f o r on e-d a y d e ferre d cre d it w ill con tin u e to b e handled on th a t basis. A rev ision has also been m ade in th e p aragrap h p erta in in g to “ T elegra p h ic C osts.” In th e fu tu r e telegra m s p erta in in g to th e p aym en t, n on p a ym en t o r tr a cin g o f ca sh item s, o r in con n ection w ith receiv in g or tra n sm ittin g p ertin en t in fo rm a tio n o r in stru ction s w ith refe re n ce th ereto will be sent, to th e ex te n t p ra ctica ble, o v e r th e F ed eral R e se rv e leased w ires w ith ou t co s t to m em b er and n on m em b er clea rin g banks. T h e rev ised bulletins should be filed in th e rin g b in d er co n ta in in g cu rren t bulletins o f th is ban k and th e reg u la tion s o f th e B oard o f G ov ern ors o f th e F ederal R eserve S ystem . Please a ck n ow led ge receip t on th e en closed p o st card. Y o u rs v e r y tru ly, R . R . G IL B E R T P resid en t This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FED ER AL RESERVE B A N K O F DALLAS B U L L E T IN N O . 8 JANUARY 12, 1951 (Superseding Bulletin No. 8, dated January 1, 1949) COLLECTION OF CASH ITEMS T o the Member and Nonmember Clearing Banks o f the Eleventh Federal Reserve District: Regulation J o f the Board o f Governors o f the Federal Reserve System, this bulletin and our time schedules prescribe the terms and conditions upon which we wiil receive and handle cash items for collection. Section 6 o f Regu lation J provides that each Federal Reserve bank may promulgate rules not inconsistent with the terms o f the law or o f Regulation J, governing the details o f its operations in clearing and collecting checks and other cash items, and that such rules shall be binding upon any member or nonmember clearing bank which sends any check or other cash item to such Federal Reserve bank for collection or to any other Federal Reserve bank for the account o f such Fed eral Reserve bank for collection. This bulletin and our time schedules are is sued pursuant to this provision o f Regulation J. Unless otherwise stated, all references to the Federal Reserve Bank o f Dal las will include the head office and all o f its branches. ITEMS WHICH W ILL BE ACCEPTED AS CASH ITEMS The following will be accepted for collection as cash item s: ( 1 ) Checks drawn on banks or banking institutions (including pri vate bankers) located in any Federal Reserve district which are collec tible at par in funds acceptable to the collecting Federal Reserve bank. The “ Federal Reserve Par List” , indicating the banks upon which checks will be received by Federal Reserve banks for collection and credit, is furnished from time to time and a supplement is furnished each month showing changes subsequent to the last complete list. This list is subject to change without notice and the right is reserved to re turn without presentment any items drawn on banks which may have withdrawn or may have been removed from the list or may have been reported closed. ( 2 ) Government checks drawn on the Treasurer o f the United States. ( 3 ) Such other items, collectible at par in funds acceptable to the Federal Reserve bank o f the district in which such items are payable, as we may be willing to accept as cash items. W hen any such item is accepted as a cash item, we will give credit therefor in accordance with the provisions o f this bulletin and our time schedules; and with respect to such item the “ T E R M S O F C O L L E C T IO N ” o f Section 3 o f Reg ulation G o f the Board o f Governors o f the Federal Reserve System, as set forth in our current bulletin relating to the collection o f noncash items, will apply as well as the relevant terms and conditions o f this bulletin including paragraphs ( 2 ) and (4 ) o f Section 5 o f Regulation J as set forth in this bulletin. —2 B U L L E T IN No. 8 Items with passbook, certificate or any other document attached, and items with special instructions or requiring special handling should be sent to us as noncash collections, subject to the terms o f our current bulletin relating to the collection o f noncash items. W e reserve the right to return or to handle as a noncash collection any item which has been previously dishonored. Checks drawn on or payable at a nonmember bank which is not included in the currently effective Federal Reserve Par List, referred to above, will not be received either as cash items or as noncash items by us or by any other Fed eral Reserve bank. In the interests o f good banking, the indirect routing o f cash items is dis couraged, and member and nonmember clearing banks should not send to us or to other Federal Reserve banks for our account, any items payable in other Federal Reserve districts, which bear the endorsements o f banks located in other Federal Reserve districts, in cases where it is evident that such items have been routed indirectly. TERMS AND CONDITIONS OF COLLECTION Every bank sending cash items to us or to another Federal Reserve bank direct for our account, by such act, will be understood to have agreed to the terms and conditions o f this bulletin, o f our time schedules, and o f Regulation J in effect at the time such cash items are received by the Federal Reserve bank. Cash items payable in other Federal Reserve districts and forwarded fo r collection to the Federal Reserve banks o f such other districts either by us or by our member and nonmember clearing banks for our account will be handled by such other Federal Reserve banks subject to the terms and conditions o f Regulation J and o f the respective bulletins and time schedules o f such other Federal Reserve banks, and to the rules o f law applicable to such banks; but we will give credit for such items in accordance with our time schedules. Section 5 o f Regulation J prescribes terms and conditions under which all Federal Reserve banks will handle checks as cash items for member and nonmember clearing banks. Such terms and conditions, and the terms and con ditions o f this bulletin and o f our time schedules, will apply to the handling o f all items which we accept for collection as cash items and to the handling o f all bank drafts and other forms o f payment or remittance which we receive for such items. The terms and conditions prescribed by Section 5 o f Regula tion J are as follow s: “ The Board o f Governors o f the Federal Reserve System hereby authorizes the Federal Reserve banks to handle such checks subject to the following terms and conditions; and each member and nonmember clearing bank which sends checks to any Federal Reserve bank for de posit or collection shall by such action be deemed (a ) to authorize the Federal Reserve banks to handle such checks subject to the following terms and conditions; (b ) to warrant its own authority to give the Fed eral Reserve banks such authority; ( c ) to agree to indemnify any Fed eral Reserve bank for any loss or expense sustained (including but not limited to attorneys’ fees and expenses o f litigation) resulting from the failure o f such sending bank to have such authority, or resulting from such Federal Reserve bank’s guaranty o f prior endorsements, or result — 3— B U L L E T IN N o. 8 ing from any action taken by the Federal Reserve bank within the scope o f its authority for the purpose o f collecting such checks; and ( d ) to guarantee all prior endorsements on such checks whether or not a spe cific guaranty is incorporated in an endorsement o f the sending bank. “ (1 ) A Federal Reserve bank will act only as agent o f the bank from which it receives such checks and will assume no liability except for its own negligence and its guaranty o f prior endorsements. “ (2 ) A Federal Reserve bank may present such checks for pay ment or send such checks for collection direct to the bank on which they are drawn or at which they are payable, or in its discretion may fo r ward them to another agent with authority to present them for payment or send them for collection direct to the bank on which they are drawn or at which they are payable. A Federal Reserve bank, or any agent to which such checks are forwarded by a Federal Reserve bank, may pre sent such checks pursuant to any special collection agreement not incon sistent with the terms o f this regulation or may present them through a clearing house subject to the rules and practices thereof. “ ( 3 ) A Federal Reserve bank may, in its discretion and at its op tion, either directly or through or from an agent, accept in payment of or in remittance for such checks, cash, bank drafts, transfers o f funds or bank credits, or other forms o f payment or remittance, acceptable to the collecting Federal Reserve bank. The Federal Reserve bank shall not be liable for the failure o f the drawee bank or any agent to pay or remit fo r such checks, nor for any loss resulting from the acceptance from the drawee bank or any collecting agent, in lieu o f cash, o f any other form o f payment or remittance authorized herein, nor fo r the nonpayment of, or failure to realize upon, any bank draft or other medium o f payment or remittance which may be accepted from the drawee bank or any collecting agent. “ ( 4 ) A n y check which a Federal Reserve bank or an agent thereof presents to the drawee bank for payment or sends to the drawee bank for collection, and fo r which remittance or settlement is made by the drawee bank on the day on which it receives8 such check, may be returned for credit or refund at any time prior to midnight o f the drawee’ s next business day following such day o f receipt or prior to the time provided by applicable clearing house rule or special collection agreement, which ever is earlier, except that this paragraph shall not apply to checks pre sented over tbe counter. “ (5 ) Checks received by a Federal Reserve bank which are payable in its own district will ordinarily be forwarded or presented direct to the banks on which they are drawn, and such banks will be required to remit or pay therefor at par in such one or more o f the forms o f pay ment or remittance authorized under paragraph (3 ) hereof as may be acceptable to the Federal Reserve bank. “ 3A check received by a drawee bank on a day other than its business day, or received on a business day after its regular business hours or during afternoon or evening periods when it has reopened (or remained open) for limited functions, shall be deemed to have been received on its next succeeding business day.” —4— B U L L E T IN No. 8 “ ( 6 ) Checks received by a Federal Reserve bank payable in other districts will ordinarily be forwarded for collection to the Federal Re serve bank o f the district in which such checks are payable; provided, however, that, where arrangements can be made satisfactory to the col lecting bank or agent and to the Federal Reserve bank o f the district in which such checks are payable, any such checks may be forwarded for collection direct to the bank on which they are drawn or at which they are payable, or may be forwarded for collection to another agent with authority to present them for payment direct to the bank on which they are drawn or at which they are payable. A ll such checks shall be handled subject to all the terms and conditions o f this regulation. “ (7 ) W ith respect to any check sent direct by a member or non member clearing bank in one district to a Federal Reserve bank in an other district, the relationships and the rights and liabilities existing be tween the member or nonmember clearing bank, the Federal Reserve bank o f its district and the Federal Reserve bank to which the check is sent will be the same, and the relevant provisions o f this regulation will apply, as though the member or nonmernber clearing bank had sent such check to the Federal Reserve bank o f its district with its endorse ment and guaranty o f prior endorsements and such Federal Reserve bank had sent the check to the other Federal Reserve bank with its endorsement and guaranty o f prior endorsements. " ( 8 ) Bank drafts received by a Federal Reserve bank in payment o f or in remittance fo r checks handled under the terms o f this regula tion shall likewise be handled for collection subject to all the terms and conditions o f this regulation. “ (9 ) The amount o f any check fo r which payment in actually and finally collected funds is not received shall be charged back to the for warding bank, regardless o f whether or not the check itself can be re turned. In such event, neither the owner or holder o f any such check, nor the bank which sent such check to the Federal Reserve bank for collection shall have any right o f recourse upon, interest in, or right of payment from, any reserve balance, clearing account, deposit account, or other funds o f the drawee bank or o f any bank to which such checks have been sent for collection, in the possession o f the Federal Reserve bank. N o draft, authorization to charge, or other order, upon any re serve balance, clearing account, deposit account, or other funds o f a paying, remitting, or collecting bank in the possession o f a Federal R e serve bank, issued for the purpose o f settling items handled under the terms o f this regulation will be paid, acted upon, or honored after re ceipt by such Federal Reserve bank o f notice o f suspension or closing o f such paying, remitting, or collecting bank.” GOVERNMENT CHECKS United States Government checks will be handled in accordance with, and subject to the provisions o f, Treasury Department Circular No. 176 in effect at the time such items are received by u s ; and with respect to matters not cov ered by such circular, the provisions o f Regulation J, this bulletin and our time schedules shall be deemed applicable to all Government checks. Credit for — 5— B U L L E T IN N o. 8 Government checks will be given in accordance with our time schedules and will be subject in all cases to examination and payment by or on behalf o f the Treasurer o f the United States. Section 25 o f Treasury Department Circular No. 176 (Title 31, Code of Federal Regulations, Chapter II, Subchapter A , Section 202.25) relates to the handling and payment o f checks drawn on the Treasurer of the United States received at Federal Reserve banks. Copies o f this section will be furnished upon request. PREPARATION OF CASH LETTERS BY SENDING BANKS In order to obtain prompt credit, member and nonmember clearing banks should assort items and list them in separate letters in accordance with our time schedules. Drafts drawn by member or nonmember clearing banks on their commercial bank correspondents sent to this bank or direct to other Federal Reserve banks or branches for credit should be listed in separate cash letters. Availability o f credit for such items will be based on the transit time normally required to effect collection. A ll cash items, whether subject to immediate or deferred credit, may be forwarded to us or may be forwarded by banks having the direct sending privilege to other Federal Reserve banks or branches without description; however, the depositing banks should maintain adequate records to enable them to identify their depositors in the event any items are lost or destroyed in transit between the depositing bank and the Reserve bank or branch to which such items are sent for collection, or in the event any items are lost or de stroyed after receipt by the collecting Reserve bank or branch. A ll mail forwarded to the head office at Dallas should be addressed “ Fed eral Reserve Bank, Station K, Dallas 13, Texas.” ENDORSEMENTS All cash items sent to us, or to another Federal Reserve bank direct for our account, should be endorsed without restriction to the order o f the Federal Reserve bank to which sent, or endorsed to the order o f any bank, banker or trust company, or with some similar endorsement. Cash items will be accepted by us, and by other Federal Reserve banks, only upon the understanding and condition that all prior endorsements are guaranteed by the sending bank. There should be incorporated in the endorsement o f the sending bank the phrase, “ A ll prior endorsements guaranteed” . The act o f sending or delivering a cash item to us or to another Federal Reserve bank will, however, be deemed and understood to constitute a guaranty o f all prior endorsements on such item, whether or not an express guaranty is incorporated in the sending bank’s endorsement. The endorsement o f the sending bank should be dated and should show the American Bankers Association transit number o f the sending bank in prominent type on both sides. UNIFORM INSTRUCTIONS REGARDING PROTEST AND W IRE ADVICE OF NONPAYMENT Federal Reserve banks will receive, handle and forward cash items subject to the following uniform instructions regarding protest and wire advice of nonpayment except that United States Government checks will not be pro tested : — 6— B U L L E T IN N a 8 (1 ) D O N O T P R O T E S T items o f $500 or less. (2 ) P R O T E S T dishonored items o f $500.01 or over, except those bearing on their face the A .B .A . no protest symbol o f a Federal Reserve bank or o f a preceding bank endorser. (3 ) D O N O T W I R E A D V IC E o f nonpayment o f items o f less than $ 1,000. ' (4 ) W I R E A D V IC E o f nonpayment o f all items o f $1,000 or over, except those not paid because o f missing, irregular or unsatisfac tory endorsement and those bearing on their face “ D O N O T W IR E N O N P A Y M E N T ” with the A .B .A . transit number o f a Federal Reserve bank or o f a preceding bank endorser. A ll Federal Reserve banks will receive, handle and forward cash items only in accordance with these uniform instructions, and any contrary or special instructions noted on cash letters or otherwise transmitted with cash items will be disregarded. I f a bank should desire to have any cash item handled by us or by any other Federal Reserve bank under any instructions differing from the uniform instructions given above, it will be necessary for such bank to forward such item as an individual noncash item, with the instructions noted in the letter o f transmittal, for collection and credit when paid, in accordance with the terms o f our current bulletin relating to the collection o f noncash items. TELEGRAPHIC COSTS Telegrams pertaining to payment, nonpayment or tracing o f cash items, or in connection with receiving or transmitting pertinent information or instruc tions, will be sent, to the extent practicable, over the Federal Reserve leased wires without cost to member and nonmember clearing banks. The cost o f all such telegrams sent over commercial wires will be charged to the banks from which the items were received, and commercial wire telegrams to such banks will be sent “ collect” . TIME SCHEDULES AND AVAILABILITY OF CREDITS W e publish and furnish to member and nonmember clearing banks time schedules showing when cash items will become available for reserve and with drawal or other use by the sending banks after receipt by us. F or all items accepted as cash items the sending bank will be given immediate credit or de terred credit, in accordance with such time schedules and as provided in R eg ulation J. Credit for letters containing items unassorted as to availability may be deferred for the longest period o f availability prescribed by our current time schedules with respect to any item enclosed, not to exceed two busi ness days. Time schedules do not in many instances show the actual time required for collection, and advices received from us showing the availability o f credit fo r cash items cannot be considered as advices o f actual payment on the dates o f availability. Credit will in all instances be subject to receipt of payment by us in actually and finally collected funds. Immediate Credit. F or all such cash items as are accepted for immediate credit in accordance with our current time schedules, immediate credit will be — 7— B U L L E T IN N o. 8 given upon our books at full face value in the reserve account or clearing account upon the day o f receipt, and the proceeds will at once be counted as reserve (in the case o f a member bank) and become available for withdrawal or other use by the sending bank; provided, however, that we may in our discretion refuse at any time to permit the withdrawal or other use o f credit given for any item for which we have not yet received payment in actually and finally collected funds. Deferred Credit. F or all such cash items as are accepted fo r deferred credit in accordance with our current time schedules, deferred credit will be entered upon our books at full face value, but the proceeds will not be counted as reserve nor become available for withdrawal or other use by the sending bank until the expiration o f the time specified in our time schedules, at which time credit will be transferred from the deferred account to the reserve ac count or clearing account and will then be counted as reserve (in the case o f a member bank) and become available for withdrawal or other use by the sending bank; provided, however, that we may in our discretion refuse at any time to permit the withdrawal or other use o f credit given for any item for which we have not yet received payment in actually and finally collected funds. AIR TRANSPORTATION In sending cash items for collection, this bank uses available air transpor tation facilities wherever such facilities offer a reasonable expectation o f ear lier presentment o f cash items or in those cases where earlier delivery facili tates the w ork o f the receiving Federal Reserve bank or branch. INSTRUCTIONS TO COLLECTING AND REMITTING BANKS Remittances for our cash letters should be made on the day o f receipt, at par in immediately available or acceptable funds. W e will receive fo r credit or refund cash items which are returned to us by collecting and remitting banks in accordance with paragraph (4 ) o f Section 5 o f Regulation J, set forth in this bulletin under the heading “ Terms and Conditions o f Collection” . Such provision o f Regulation J does not mean, however, that any bank is required to follow the practice o f delaying the re turn o f unpaid cash item s; and any collecting or remitting bank may continue to return unpaid cash items with its remittance on the day o f receipt. Each cash item returned unpaid should bear a notation clearly indicating the reason therefor. I f unpaid items are returned on the day o f receipt, they should be de ducted from and returned with the remittance for the cash letter in which the items were received. Those items for which remittance has been made on the day o f receipt and on which payment is revoked in accordance with paragraph (4 ) o f Section 5 o f Regulation J may be deducted from and returned with the remittance fo r the cash letter received the following day. DIRECT SENDING OF CASH ITEMS TO OTHER FEDERAL RESERVE BANKS Member and nonmember clearing banks, having a substantial volume o f cash items payable in other Federal Reserve districts which they wish to col lect through the Federal Reserve banks, are urged to apply to us for permis sion to send such items direct to the Federal Reserve banks and branches o f — 8— B U L L E T IN N o. 8 the districts in which such items are payable, for collection and credit to us. Appropriate instructions will be sent to the banks to which such permission is granted. W hen in our judgment a member or nonmember clearing bank has a suf ficient volume o f cash items payable in other Federal Reserve districts to jus tify direct routing, we reserve the right to decline to accept such items for collection unless they are routed direct to the Federal Reserve banks and branches o f such other Federal Reserve districts. Reimbursement o f Transportation Costs. Each member bank which sends cash items direct to other Federal Reserve banks and branches, or to an office o f this bank other than the one at which its reserve account is carried, will be reimbursed by us for postage or other transportation costs, not includ ing insurance, on all such direct sent items. Transportation costs on cash items delivered to us by member banks for consolidated shipment to Federal Reserve banks and branches will be paid by us. Each direct sending member bank is requested to give constant attention to methods o f shipment and to change a method in any case in which shipment can be made at a lower cost without loss o f time in presentment. In cases in which we pay the transportation costs, we reserve the right to require a change in method of shipment in any situation where, by the use o f another method, presentment can consistently be made more promptly, or at a lower cost and without loss o f time. CHECK ROUTING SYMBOL T o facilitate the sorting and routing o f checks and other cash items by all banks, and thereby promote earlier presentment, the appropriate check rout ing symbol in fractional form should be clearly imprinted in the upper righthand corner o f all checks or other cash items drawn payable by, at, or through all par remitting banks. It is preferable that the symbol be printed in gothic type, the face o f which measures at least 8 points vertically or 1 /9 o f an inch from the top to the bottom o f the individual characters. RIGHT TO AMEND The right is reserved to withdraw, add to, or amend, at any time, any o f the provisions o f this bulletin and o f our time schedules. Respectfully, R . R . G IL B E R T President —9— BULLETIN NO. 3 (Superseding Time Schedule Dated July 1, 1949) HEAD OFFICE FEDERAL RESERVE BANK OF DALLAS TIME SCHEDULE Effective January 12, 1951 A v a ii .a F b i u t y Immediate Credit i Business Day After Receipt o r F o l l o w in g D e s c r ib e d I t e m s ♦Dallas Fort Worth— (Limited to bank drafts drawn on Fort W orth member banks which are payable to the order o f ourselves.) Government checks drawn on the Treasurer of the United States. Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. Drafts on Federal Reserve Bank o f Dallas and its branches; subject to inspection and verification o f signatures at the head office or branch on which they are drawn. Cashier’s checks and expense checks o f all Federal Reserve banks and branches. Federal Reserve Exchange Drafts. El Paso ♦Houston ♦San Antonio Atlanta Birmingham Chicago Denver Kansas City Little Rock Louisville Memphis Nashville New Orleans Oklahoma City Omaha St. Louis Salt Lake City 2 ♦* Business * 5* Days After Receipt All other items drawn on par banks located within the United States. ♦Except items drawn on par banks in contiguous cities or on certain outlying banks within the cities indicated which are collected by mail. A list o f such banks is shown on the reverse side o f this schedule. ♦♦Credit for items payable in other Federal Reserve bank and branch cities, when received in separate letters, will be deferred on a calendar day basis when the items are in transit to banks in those cities on a Sunday or a holiday. ♦♦♦Deferred credit for a member or nonmember clearing bank’s own draft on its commercial bank correspondent will be based on the transit time normally required to effect collection. CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER FEDERAL RESERVE RANKS Member and nonmember clearing banks which have received permission to send cash items payable in other Federal Reserve districts direct to other Federal Reserve banks and branches for the account of this bank will be given credit for items so sent as specified below : (a) Items payable in Federal Reserve bank or branch cities— Based on the time (not to exceed two business days from date o f dispatch) normally required for the collection thereof as indicated in separate availability schedules furnished the respective direct-sending banks; (b ) Items payable in localities outside o f Federal Reserve bank or branch cities— T w o business days from date o f dispatch; provided, however, that this bank may, by giving notice to any member or nonmember clear ing bank, prescribe the manner, and the time before which, all items or certain items must be dispatched by such bank in order to obtain such credit. - 10- B U L L E T IN NO. 8 C L O S IN G H O U R S Central Tim e.......................... 10:00 A . M. (D a ily )............Items drawn on banks in Dallas, other than the Federal Re serve Bank, for which immediate credit is given according to this schedule. 10:30 A . M .............................Bank drafts drawn on Fort W orth member banks which are (Saturday 10:00 a. m.) payable to the order o f ourselves. 11:00 A . M .............................Government checks drawn on the Treasurer o f the United (Saturday 10:00 a. m.) States and Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. 12:00 M .................................... Miscellaneous items o f one or more days deferred availability (Saturday 11:00 a. m.) according to this schedule. (Except that miscellaneous items of §500 or more will be received up to 1 :00 P. M. on Saturday and 2 :30 P. M. on other days when listed in separate letters containing only such items.) 2:00 P. M ...............................Cashier’s checks and expense checks o f all Federal Reserve (Saturday 1 :00 p. m.) banks and branches. Drafts on Federal Reserve Bank o f Dallas or its branches. Federal Reserve Exchange Drafts. The following banks are located in outlying sections o f the head office or branch city indicated or in contiguous cities. Items drawn on such banks are collected by mail and are subject to deferred credit. Such checks should be listed with other items subject to deferred credit and should not be listed with items o f immediate availability'. Name o f Bank Location HEAD OFFICE TERRITORY Grove State Bank..................................................................................................... Dallas,Texas Highland Park State Bank (Highland P a r k ).................................................... Dallas,Texas Hillcrest State Bank (University P a r k )............................................................ Dallas,Texas HOUSTON BRANCH T E R R IT O R Y Almeda State Bank............................................................................................... Houston,Texas Bellaire State B a n k ............................................................................................. Houston,Texas Commercial State Bank....................................................................................... Houston,Texas East End State B a n k ........................................................................................... Houston,Texas First State Bank o f Green’s Bayou.................................................................. Houston,Texas Harrisburg National Bank................................................................................. Houston,Texas Heights State Bank............................................................................................... Houston,Texas North Side State Bank......................................................................................... Houston,Texas Port City State Bank......................................................................................... Houston,Texas Reagan State Bank............................................................................................... Houston,Texas River Oaks State Bank....................................................................................... Houston,Texas Security State Bank.............................................................................................Houston,Texas The Industrial State Bank of Houston............................................................Houston,Texas University State Bank......................................................................................... Houston,Texas SAN ANTONIO BRANCH T E R R IT O R Y Broadway National Bank o f Alamo Heights........................Alamo Harlandale State Bank.................................................................... San Highland Park State Bank.............................................................San Jefferson State Bank...................................................................... San National Bank o f Fort Sam Houston......................................... San Union State Bank................................................................ South San Heights, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas T h is schedule supersedes a ll previous schedules and is subject to change without notice. — 9— BULLETIN NO. 8 (Superseding Time Schedule Dated January 1, 1949) SAN ANTONIO BRANCH FEDERAL RESERVE BANK OF DALLAS TIM E SCHEDULE Effective January 12, 1951 A v a i c a b i u t v F o r F o i a o w in g D e s c r ib e d I t e m s Im m ediate Credit ♦San Antonio Government checks drawn on the Treasurer o f the United States. Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. Drafts on Federal Reserve Bank o f Dallas and its branches; subject to inspection and verification o f signatures at the head office or branch on which they are drawn. Cashier’s checks and expense checks o f all Federal Reserve banks and branches. Federal Reserve Exchange Drafts. 1 Business Day A fter Receipt ♦Dallas Birmingham ♦Houston Kansas City Fort W orth— (Limited to bank drafts drawn banks which are payable to the order Nashville Oklahoma City on Fort W orth member o f ourselves.) 2 '" ‘ Business ***D ays A fter Receipt All other items drawn on par banks located within the United States. ♦Except items drawn on par banks in contiguous cities or on certain outlying banks within the cities indicated which are collected by mail. A list of such banks is shown, on the reverse side o f this schedule. ♦♦Credit for items payable in other Federal Reserve bank and branch cities, when received in separate letters, will be deferred on a calendar day basis when the items are in transit to banks in those cities on a Sunday or a holiday. ♦♦♦Deferred credit for a member or nonmember clearing bank’s own draft on its commercial bank correspondent will be based on the transit time normally required to effect collection. CRED IT FO R CASH ITEM S SENT D IR E C T T O OTH ER FEDERAL RESERVE BANKS Member and nonmember clearing banks which have received permission to send cash items payable in other Federal Reserve districts direct to other Federal Reserve banks and branches for the account o f this bank will be given credit for items so sent as specified below : (a) Items payable in Federal Reserve bank or branch cities— Based on the time (not to exceed two business days from date o f dispatch) normally required for the collection thereof as indicated in separate availability schedules furnished the respective direct-sending banks; (b ) Items payable in localities outside o f Federal Reserve bank or branch cities— T w o business days from date o f dispatch; provided, however, that this bank may, by giving notice to any member or nonmember clear ing bank, prescribe the manner, and the time before which, all items or certain items must be dispatched by such bank in order to obtain such credit. -1 0 - B U L L E T IN NO. 8 C L O S IN G H O U R S Central T im e .......................... 10:30 A . M .............................Items drawn on banks in San Antonio, other than the Federal (Saturday 10:00 a. m.) Reserve Bank Branch, for which immediate credit is given according to this schedule. 11:00 A . M .............................Government checks drawn on the Treasurer o f the United (Saturday 10:00 a. m.) States and Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. 12:00 M ................................... Miscellaneous items o f one or more days deferred availability (Saturday 11:00 a. m.) according to this schedule. (Except that miscellaneous items of $500 or more will be received up to 1 :00 P. M. on Saturday and 3 :30 P. M. on other days when listed in separate letters containing only such items.) 2:00 P. M .................................Cashier's checks and expense checks of all Federal Reserve (Saturday 1 :00 p. m.) banks and branches. Drafts on Federal Reserve Bank o f Dallas or its branches. Federal Reserve Exchange Drafts. The following banks are located in outlying sections o f the head office or branch city indicated or in contiguous cities. Items drawn on such banks are collected by mail and are subject to deferred credit. Such checks should be listed with other items subject to deferred credit and should not be listed with items o f immediate availability. Name o f Bank Location HEAD OFFICE T E R R IT O R Y Grove State Bank.....................................................................................................Dallas,Texas Plighland Park State Bank (Highland P a r k ).................................................... Dallas,Texas Hillcrest State Bank (University P a r k )............................................................Dallas,Texas HOUSTON BRANCH T E R R IT O R Y Almeda State Bank............................................................................................... Houston,Texas Bellaire State B a n k ............................................................................................. Houston,Texas Commercial State Bank....................................................................................... Houston,Texas East End State B a n k ........................................................................................... Houston,Texas First State Bank o f Green’s Bayou................................................................ Houston,Texas Harrisburg National Bank................................................................................. Houston,Texas Heights State Bank............................................................................................... Houston,Texas North Side State Bank......................................................................................... Houston,Texas Port City State Bank......................................................................................... Houston,Texas Reagan State Bank...............................................................................................Houston,Texas River Oaks State Bank....................................................................................... Houston,Texas Security State Bank............................................................................................. Houston,Texas The Industrial State Bank o f Houston............................................................Houston,Texas University State Bank......................................................................................... Houston,Texas SAN ANTONIO BRANCH T E R R IT O R Y Broadway National Bank of Alamo Heights........................Alamo Harlandale State Bank.....................................................................San Highland Park State Bank.............................................................San Jefferson State Bank.......................................................................San National Bank o f Fort Sam Houston......................................... San Union State Bank.................................................................South San Heights, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas T h is schedule supersedes all p revious schedules and is subject to change without notice. — 9— BULLETIN NO. 8 (Superseding Time Schedule Dated January 1, 1949) HOUSTON BRANCH FEDERAL RESERVE BANK OF DALLAS TIME SCHEDULE Effective January 12, 1951 A F v a i l a b i l i t y o r F o l l o w in g D e s c r ib e d I t e m s *110051011 Immediate Credit 1 Business Day After Receipt 2 * * Business * “ * Days After Receipt Government checks drawn on the Treasurer o f the United States. Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. Drafts on Federal Reserve Bank o f Dallas and its branches; subject to inspection and verification o f signatures at the head office or branch on which they are drawn. Cashier’s checks and expense checks o f all Federal Reserve banks and branches. Federal Reserve Exchange Drafts. ♦Dallas Atlanta Little Rock Oklahoma City El Paso Birmingham Memphis St. Louis ♦San Antonio Kansas City New Orleans Fort Worth— (Limited to bank drafts drawn on Fort W orth member banks which are payable to the order o f ourselves.) All other items drawn on par banks located within the United States. ♦Except items drawn on par banks in contiguous cities or on certain outlying banks within the cities indicated which are collected by mail. A list o f such banks is shown on the reverse side o f this schedule. ♦♦Credit for items payable in other Federal Reserve bank and branch cities, when received in separate letters, will be deferred on a calendar day basis when the items are in transit to banks in those cities on a Sunday or a holiday. ♦♦♦Deferred credit for a member or nonmember clearing bank’s own draft on its commercial bank correspondent will be based on the transit time normally required to effect collection. CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER FEDERAL RESERVE BANKS Member and nonmember clearing banks which have received permission to send cash items payable in other Federal Reserve districts direct to other Federal Reserve banks and branches for the account of this bank will be given credit for items so sent as specified below : (a) Items payable in Federal Reserve bank or branch cities— Based on the time (not to exceed two business days from date o f dispatch) normally required for the collection thereof as indicated in separate availability schedules furnished the respective direct-sending banks; (b ) Items payable in localities outside o f Federal Reserve bank or branch cities— T w o business days from date o f dispatch; provided, however, that this bank may, by giving notice to any member or noninember clear ing bank, prescribe the manner, and the time before which, all items or certain items must be dispatched by such bank in order to obtain such credit. •10— B U L L E T IN NO. 8 C L O S IN G H O U R S Central T im e ............ ............. 10:00 A . M. (D a ily )............Items drawn on banks in Houston, other than the Federal Reserve Bank Branch, for which immediate credit is given according to this schedule. 11:00 A . M ............................... Government checks drawn on the Treasurer o f the United (Saturday 10:00 a. m.) States and Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. 12:00 M .................................... Miscellaneous items o f one or more days deferred availability (Saturday 11:00 a. m.) according to this schedule. (Except that miscellaneous items o f $500 or more will be received up to 1 :0O P. M. on Saturday and 2:30 P. M . on other days when listed in separate letters containing only such items.) 2 :00 P. M .................................Cashier’s checks and expense checks of all Federal Reserve (Saturday 1 :00 p. m.) banks and branches. Drafts on Federal Reserve Bank o f Dallas or its branches. Federal Reserve Exchange Drafts. The following banks are located in outlying sections o f the head office or branch cityindicated or in contiguous cities. Items drawn on such banks are collected by mail and are subject to deferred credit. Such checks should be listed with other items subject to deferred credit and should not be listed with items o f immediate availability. Name o f Bank Location HEAD OFFICE T E R R IT O R Y Grove State Bank..................................................................................................... Dallas,Texas Highland Park State Bank (Highland P a r k ).................................................... Dallas,Texas Hillcrest State Bank (University P a r k )............................................................. Dallas,Texas HOUSTON BRANCH T E R R IT O R Y Almeda State Bank............................................................................................... Houston,Texas Bellaire State B a n k ............................................................................................. Houston,Texas Commercial State Bank....................................................................................... Houston,Texas East End State B a n k ........................................................................................... Houston,Texas First State Bank o f Green’sBayou.................................................................... Houston,Texas Harrisburg National Bank................................................................................. Houston,Texas Heights State Bank...............................................................................................Houston,Texas North Side State Bank......................................................................................... Houston,Texas Port City State Bank......................................................................................... Houston,Texas Reagan State Bank............................................................................................... Houston,Texas River Oaks State Bank....................................................................................... Houston,Texas Security State Bank.............................................................................................Houston,Texas The Industrial State Bank o f Houston............................................................. Houston,Texas University State Bank......................................................................................... Houston,Texas SAN ANTONIO BRANCH T E R R IT O R Y Broadw ay National Bank o f Alamo Heights........................Alamo Harlandale State Bank.....................................................................San Highland Park State Bank.............................................................San Jefferson State Bank.......................................................................San National Bank o f Fort Sam Houston......................................... San Union State Bank.................................................................South San Heights, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas T h is schedule supersedes all previous schedules and is subject to change w ithout notice. — 9— BULLETIN NO. 8 (Superseding Time Schedule Dated January 1,1949) EL PASO BRANCH FEDERAL RESERVE BANK OF DALLAS TIME SCHEDULE Effective January 12, 1951 A v a i l a b i l it y Immediate Credit 1 Business Day After Receipt 2 ** Business 4,3‘ Days After Receipt F o r F o l l o w in g D e s c r ib e d I t e m s El Paso Government checks drawn on the Treasurer o f the United States. Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. Drafts on Federal Reserve Bank o f Dallas and its branches; subject to inspection and verification o f signatures at the head office or branch on which they are drawn. Cashier’s checks and expense checks o f all Federal Reserve banks and branches. Federal Reserve Exchange Drafts. ^Dallas Memphis Nashville Fort Worth— (Limited to bank drafts drawn on Fort W orth member banks which are payable to the order o f ourselves.) Ail other items drawn on par banks located within the United States. ^Except items drawn on par banks in contiguous cities or on certain outlying banks within the cities indicated which are collected by mail. A list o f such banks is shown on the reverse side o f this schedule. **Credit for items payable in other Federal Reserve bank and branch cities, when received in separate letters, will be deferred on a calendar day basis when the items are in transit to banks in those cities on a Sunday or a holiday. ***r)c.ferred credit for a member or nonmember clearing bank’s own draft on its commercial bank correspondent will be based on the transit time normally required to effect collection. CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER FEDERAL RESERVE BANKS Member and nonmember clearing banks which have received permission to send cash items payable in other Federal Reserve districts direct to other Federal Reserve banks and branches for the account o f this bank will be given credit for items so sent as specified below : (a ) Items payable in Federal Reserve bank or branch cities— Based on the time (not to exceed two business days from date o f dispatch) normally required for the collection thereof as indicated in separate availability schedules furnished the respective direct-sending banks; (b ) Items payable in localities outside o f Federal Reserve bank or branch cities— T w o business days from date o f dispatch; provided, however, that this bank may, by giving notice to any member or nonmember clear ing bank, prescribe the manner, and the time before which, all items or certain items must be dispatched by such bank in order to obtain such credit. - 10- B U L L E T IN NO. 8 C L O S IN G H O U R S Mountain T im e ...................... 9:45 A . M ...............................Items drawn on banks in El Paso, other than the Federal (Saturday 9:00 a. m.) Reserve Bank Branch, for which immediate credit is given according to this schedule. 11:00 A . M ...............................Government checks drawn on the Treasurer of the United (Saturday 10:00 a. m.) States and Government checks drawn on the Treasurer o f the United States payable through a Federal Reserve bank. 12:00 M .................................... Miscellaneous items o f one or more days deferred availability (Saturday 11:00 a. m.) according to this schedule. (Except that miscellaneous items o f $500 or more will be received up to 12:00 M. on Saturday and 2 :00 P. M. on other days when listed in separate letters containing only such items.) 2:OOP. M .................................Cashier’s checks and expense checks o f all Federal Reserve (Saturday 12:00 M .) banks and brandies. Drafts on Federal Reserve Bank o f Dallas or its branches. Federal Reserve Exchange Drafts. _ _ The following banks are located in outlying sections o f the head office or branch city indicated or in contiguous cities. Items drawn on such banks are collected by mail and are subject to deferred credit. Such checks should be listed with other items subject to deferred credit and should not be listed with items of immediate availability. Name o f Bank Location HEAD OFFICE T E R R IT O R Y Grove State Bank.....................................................................................................Dallas,Texas Highland Park State Bank (Highland P a r k )....................................................Dallas,Texas Hillcrest State Bank (University P a r k )............................................................Dallas,Texas HOUSTON BRANCH TE R R IT O R Y Alrneda State Bank............................................................................................... Houston,Texas Bellaire State B a n k ............................................................................................. Houston,Texas Commercial State Bank....................................................................................... Houston,Texas East End State B a n k ........................................................................................... Houston,Texas First State Bank o f Green’s Bayou..................................................................Houston,Texas Harrisburg National Bank................................................................................. Houston,Texas Heights State Bank...............................................................................................Houston,Texas North Side State Bank......................................................................................... Houston,Texas Port City State Bank......................................................................................... Houston,Texas Reagan State Bank...............................................................................................Houston,Texas River Oaks State Bank....................................................................................... Houston,Texas Security State Bank.............................................................................................Houston,Texas The Industrial State Bank o f Houston............................................................Houston,Texas University State Bank......................................................................................... Houston,Texas SAN ANTONIO BRANCH T E R R IT O R Y Broadway National Bank o f Alamo Heights........................Alamo Harlandale State Bank.....................................................................San Highland Park State Bank.............................................................San Jefferson State Bank...................................................................... San National Bank of Fort Sam Houston......................................... San Union State Bank.................................................................South San Heights, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas Antonio, Texas T h is schedule supersedes all previous schedules and is subject to change without notice. BULLETIN No. 6 JANUARY 1 2 ,1 9 5 1 FEDERAL RESERVE BANK OF DALLAS TRANSFERS OF FUNDS T o the Member and Nonmember Clearing Banks o f the Eleventh Federal Reserve D istrict: Unless otherwise stated, all references to the Federal Reserve Bank of Dallas will include the head office and all o f its branches. TRANSFERS OF BANK BALANCES FOR MEMBER BANKS Telegraphic transfers between Federal Reserve banks and branches o f bank balances o f $1,000 or over will be made for member banks without charge. Such transfers will be made for and paid to member banks only. The term “ bank balance” shall be construed to mean an accumulation o f funds compris ing an established account maintained by a member bank with its Federal Reserve bank or with another member bank. The descriptive data in telegrams transferring bank balances without charge must be limited to the name o f the sending member bank, name o f its correspondent member bank requesting the transfer, name o f the member bank receiving credit, and the name o f its correspondent member bank. Transfers fo r the benefit or use o f an individual, firm, corporation, or nouinember bank and transfers o f the proceeds o f individual collection items or individual cash letters will not be made without charge. OTHER TRANSFERS Telegraphic transfers o f funds fo r any purpose and in any amount and without limitation as to descriptive data will be made for and paid to member banks subject in each case to a charge which will approximate but not exceed the commercial wire rate for the telegram or telegrams involved in the trans fer. W hile such transfers will be accepted from and paid to member banks only, they may be for the use o f any bank, individual, firm or corporation. Telegraphic transfers o f bank balances in multiples o f $100 will be made fo r nonmember clearing banks subject to a charge as outlined in the preced ing paragraph. Such transfers will be accepted from any member bank for the credit o f any nonmember clearing bank, and from any nonmember clearing bank fo r the credit o f any member bank or any other nonmember clearing bank. Member and nonmember clearing banks should prepay the cost o f tele grams requesting transfers that are subject to a charge, and telegrams to member and nonmember clearing banks advising o f credit will be sent “ collect” . TELEGRAPHIC EXPENSE AND ADVICES OF CREDIT The Federal Reserve Bank o f Dallas will absorb the cost o f telegrams received from member banks requesting transfers o f bank balances o f $1,000 or over fo r use o f member banks. Telegrams requesting transfers o f any other character should be prepaid as the Federal Reserve Bank o f Dallas will not absorb the cost o f such telegrams. B U L L E T IN N o. 6 - 2 - Except where telegraphic advice o f credit is requested, advice will ordi narily be sent by mail, it being assumed that the receiving bank will have knowledge that the transfer is being made. MAIL TRANSFERS A ny member or nonmember clearing bank may request the Federal Reserve Bank o f Dallas to charge any amount to its account and credit the amount to the account o f any other member or nonmember clearing bank in this district or to transfer the amount by mail to any other Federal Reserve bank fo r the credit o f any o f its member or nonmember clearing banks. N o charge will be made for handling mail transfers. GENERAL Requests for transfers should be made by letter, over an authorized signa ture, but, if necessary, may be made by telegram in American Bankers Association code, properly tested, in which latter case an officially signed letter o f confirmation should follow immediately by mail. It is the policy o f this bank not to accept instructions over the telephone to make transfers o f funds. Unless otherwise instructed, requests for telegraphic transfers will be handled on the date received, provided they reach this bank not later than the time shown by the schedule herein. A request to transfer funds will be construed as authority to charge the account o f the requesting member or nonmember clearing bank to cover the amount o f funds to be transferred, unless such request is accompanied by a draft o f the requesting bank drawn against its account with this bank. Charges against accounts with, and payment o f drafts drawn on, this bank, as men tioned herein, will be made only against adequate collected balances. Member or nonmember clearing banks may request correspondent mem ber or nonmember clearing banks in this or other districts to transfer funds through the Federal Reserve bank or branch to which such correspondents are attached. This bank reserves the right to decline to handle any transfer which, in its opinion, is an abuse o f the wire transfer facilities, or which involves the ful fillment o f unusual or extraordinary conditions. LIABILITY OF THE FEDERAL RESERVE BANK The Federal Reserve Bank o f Dallas will use due diligence and care in the transfer o f funds by telegraph to the receiving Federal Reserve bank for credit to the account o f the payee bank, but will not be responsible for errors or delays caused by circumstances beyond its control. A ny member or nonmember clearing bank using the transfer facilities offered by the Federal Reserve Bank o f Dallas will be understood by such use to have agreed to the terms and conditions set forth in this bulletin. The right is reserved to withdraw, add to, or amend at any time, any o f the provisions o f this bulletin. ' Respectfully, R. R. G IL B E R T , President B U L L E T IN No. 6 -3— CLOSING HOURS FOR THE ACCEPTANCE OF ORDERS FOR TELEGRAPHIC TRANSFERS FOR CONSUMMATION ON DAY OF RECEIPT Effective January 12, 1951 C LO S IN G H O U R S F O R A C C E P T A N C E O F O R D E R S F O R T R A N S F E R S F O R T R A N S M IS S IO N B Y O F F IC E A T Head Office, Houston or San Antonio Branch Saturday Other Busi ness Days Central Time C l o s e d o n S a t. C l o s e d o n S a t. 11:00 A.M . C l o s e d o n S a t. C l o s e d o n S a t. 11:00 A.M . C l o s e d o n S a t. C l o s e d o n S a t. C l o s e d o n S a t. 12:30 P.M. C l o s e d o n S a t. C l o s e d o n S a t. 12:30 P.M. 12:00 M 12:30 P.M. 10:00 A.M . C l o s e d o n S a t. 11:30 A.M . 1 :00 P.M. C l o s e d o n S a t .1 12:30 P.M. C l o s e d o n S a t. 11:00 A.M . C l o s e d o n S a t .2 C l o s e d o n S a t. ll:0 O A .M . 11:00 A.M . C l o s e d o n S a t. C l o s e d o n S a t. 1 :00 P.M. 11:00 A.M . C l o s e d o n S a t. 12:00 M. 12:30 P.M. 1 :00 P.M. C l o s e d o n S a t. 1 :00 P.M. 1 :00 P.M. 2 :00 P.M. 1 :00 P.M. 1 :00 P.M. 1 :00 P.M. 1 :30 P.M. 1 :00 P.M. 1 :00 P.M. 1 :30 P.M. 2:00 P.M. 1 :00 P.M. 2:00 P.M. 2:00 P.M. 1 :30 P.M. 1 :00 P.M. 2:00 P.M. 2:00 P.M. 2:00 P.M. 2:00 P.M. 2:00 P.M. 2:00 P.M. 2:00 P.M. 2:00 P.M. 1 :00 P.M. 2:00 P.M. 2:00 P.M. 1 :00 P.M. 1 :00 P.M. 2:00 P.M. 1 :00 P.M. 2:00 P.M. 2:00 P.M. 1 :30 P.M. 2:00 P.M. 2:00 P.M. El Paso Branch Saturday Other Busi ness Days j T O T H E F O L L O W IN G FEDERAL RESERVE BANKS OR BRANCHES Mountain Time C l o s e d o n S a t. C l o s e d o n S a t. 10:00 A.M . C l o s e d o n S a t. C l o s e d o n S a t. 10:00 A.M . C l o s e d o n S a t. C l o s e d o n S a t. C l o s e d o n S a t. 11:30 A.M . C l o s e d o n S a t. C l o s e d o n S a t. 11:00 A.M . 11:30 A.M . 9:00 A.M . C l o s e d o n S a t. 10:30 A.M . 12:00 M. C l o s e d o n S a t .1 11:30 A.M . C l o s e d o n S a t. 10:00 A.M . C l o s e d o n S a t .C l o s e d o n S a t. 10:00 A.M . 10:00 A.M . C l o s e d o n S a t. C l o s e d o n S a t. 12:00 M. 10:00 A.M . C l o s e d o n S a t. 11:00 A.M . 11:30 A.M . 12:00 M. C l o s e d o n S a t. 12:00 M. 12:00 M. 1 :00 P.M. 12:00 M. 12:00 M. 12:00 M. 12:30 P.M. 12:00 M. 12:00 M. 12:30 P.M. 2:00 P.M. 12:00 M. 1 :00 P.M. 12:30 P.M. 12:00 M. 1 :00 P.M. 1 :00 P.M. 2:00 P.M. 1 :30 P.M. 1 :30 P.M. 1 :00 P.M. 1 :00 P.M. 1 :00 P.M. 12:00 M. 1 :00 P.M. 1 :00 P.M. 12:00 M. 12:00 M. 2:00 P.M. 12:00 M. 1 :30 P.M. 1 :00 P.M. 12:30 P.M. 2:00 P.M. 2:00 P.M. Atlanta Baltimore (Branch o f Richmond) Birmingham (Branch o f Atlanta) Boston Buffalo (Branch o f New Y ork) Charlotte (Branch o f Richmond) Chicago Cincinnati (Branch o f Cleveland) Cleveland Dallas Denver (Branch o f Kansas City) Detroit (Branch o f Chicago) El Paso (Branch o f Dallas) Helena (Branch o f Minneapolis) Houston (Branch o f Dallas) Jacksonville (Branch o f Atlanta) Kansas City Little Rock (B r. o f St. Louis) Los Angeles (B r. o f San Fran.) Louisville (Branch o f St. Louis) Memphis (Branch o f St. Louis) Minneapolis Nashville (Branch o f Atlanta) New Orleans (B r. o f Atlanta) New Y ork Okla. City (B r. o f Kansas City) Omaha (Branch o f Kansas City) Philadelphia Pittsburgh (Branch o f Cleveland) Portland (Br. o f San Francisco) Richmond St. Louis Salt Lake City (Br. o f San Fran.) San Antonio (Branch o f Dallas) San Francisco Seattle (Branch o f San Fran.) N ote : The closing hour for telegraphic transfers to Federal Reserve banks and branches located in cities which observe “daylight saving” time during any part o f the year will be automatically advanced one hour during that period. 1. Louisville—Except in any week in which another holiday is observed. 2. New Orleans—Except when immediately preceded by a holiday.
@FedFRASER