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FEDERAL RESERVE BANK OF DALLAS
DALLAS 13, TEXAS

July 13, 1949

To the Member and Nonmember Clearing Banks
of the Eleventh Federal Reserve District:
We are informed by the Federal Reserve Bank of MinneĀ­
apolis that recent Minnesota legislation makes provision for
Saturday closings of banks and other financial institutions in
the Minneapolis, St. Paul, and Duluth areas. Consistent with
the action taken by commercial banks in those cities, the
Federal Reserve Bank of Minneapolis will remain closed on
all Saturdays beginning July 16, 1949.
We are also informed that the Helena Branch of the Federal
Reserve Bank of Minneapolis will remain open on Saturdays
as heretofore.
Due consideration should be given to the Saturday closing
referred to with respect to transfers of funds to and from
banks in the territory served by the Federal Reserve Bank of
Minneapolis. Attention is also called to the possibility of there
being a delay in the return of dishonored cash items and in the
receipt of advice of the nonpayment of such items.

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)

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