Full text of District Notices (Federal Reserve Bank of Dallas) : [FRB Chicago Will Close of Saturdays Commencing August 6, 1949. Detroit Branch Will Remain Closed on Saturdays]

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Fe d e r a l

reserve

bank

of

Da l l a s

DALLAS 13, TEXAS

August 4, 1949

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

We are informed that legislation has recently become effec­
tive in Illinois providing that any bank doing business within
that state may select any one day of the week to remain closed,
and that pursuant to such legislation the Federal Reserve Bank
of Chicago will be closed on Saturdays commencing August 6,
1949.
The Detroit Branch of the Federal Reserve Bank of Chi­
cago will also remain closed on Saturdays as it has been since
August 21, 1948.
Due consideration should be given to the Saturday closings
referred to with respect to transfers of funds to and from
banks in the district served by the Federal Reserve Bank of
Chicago. 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)