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Fe d e r a l Re s e r v e Ba n k o f Da l l a s
D A L L A S T3, T E X A S

October 1,1948

T o the Member and Nonmember Clearing Banks
in the Eleventh Federal Reserve D istrict:

R eference is made to our circular letter o f July 23, 1948,
advising that the N ew Orleans Branch o f the Federal Reserve
Bank o f A tlanta would be closed on Saturdays through the month
o f September.
W e are now inform ed that the New Orleans Branch o f the
Federal R eserve Bank o f Atlanta will be closed on Saturdays,
until fu rth er notice.
N otw ithstanding such Saturday closing, all cash items reĀ­
ceived by the N ew Orleans Branch o f the Federal Reserve Bank
o f A tlanta fo r deferred credit, within the hours provided fo r the
acceptance o f such items, will be put in process o f collection and
the availability o f the funds calculated fro m Saturday. However,
there may be delays in the receipt o f advice o f nonpayment and
the return o f dishonored cash item s in some instances.
Due consideration should be given to the Saturday closing
referred to with respect to transfers o f funds to and from banks
in the territory served by the New Orleans Branch o f the Federal
Reserve Bank o f Atlanta.
Y ours very truly,
R. R. G ILBERT
President

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

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