Full text of District Notices (Federal Reserve Bank of Dallas) : [Majority of Banks in San Francisco and Los Angeles will Close on Saturdays]

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F

ed eral

R

Ban

eserve

k

OF DALLAS

Dallas, T ex a s, June 27, 1951

To the Member and Nonmember Clearing Banks
o f the Eleventh Federal Reserve District:

W e are in form ed b y th e F ederal R ese rv e B an k o f San F ra n cisco th at
p ursuan t to p rov ision s o f th e C ivil Code o f th e S tate o f C aliforn ia, w h ich
p erm its banks to rem ain closed on S atu rdays, a m a jo r ity o f th e banks in
San F ra n cisco and L os A n g e le s will rem ain closed on all Satu rdays, e ffe c­
tiv e July 7, 1951, and until fu r th e r n otice. A cco rd in g ly , e ffectiv e July 7,
1951, and until fu r th e r n otice, th e F ederal R ese rv e B ank o f San F ra n cisco
and its L o s A n g eles B ra n ch w ill rem ain closed on Satu rdays.
D ue con sideration should b e given to th e S atu rd ay closin gs re fe rre d to
w ith resp ect to tr a n s fe r s o f fu n d s to and fr o m banks in th e te r rito ry
served b y th e F ederal R eserv e B ank o f San F ra n cisco and its L o s A n geles
B ran ch . A tte n tio n is also called to th e p o ssib ility o f th ere b e in g a delay
in th e retu rn o f d ish on ored cash item s and in the receip t o f a dvice o f the
n on paym en t o f su ch item s.

Y o u rs v e r y tru ly,
R. R. G IL B E R T
P resid en t

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