The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F e d e r a l R e s e r v e Ba n k OF DALLAS Dallas, Texas, February 26,1962 To All Banks in the Eleventh Federal Reserve District: Another survey has been made by Federal Reserve banks to measure commercial bank participation in the Magnetic Ink Character Recognition Program of the American Bankers Association. The survey indicates that 55 percent of the checks cleared through the Reserve System are preprinted in magnetic ink, while only 42 percent of those cleared through the Reserve bank offices o f this District are preprinted. In fact, all except three districts have more preprinted checks than the Dallas District. The Philadelphia District, with a preprinting ratio of 73 percent, has the best record in the System. The analysis of magnetic ink printing by states indicates that New Mexico, with a ratio of 44 percent, is ranked 28th; Texas, with 42 percent, 32nd; Oklahoma, with 40 percent, 35th; Arizona, with 38 percent, 36th; and Louisiana, with 36 percent, 40th. The State of Delaware, with a ratio of 79 percent leads the nation. The information obtained from the survey clearly shows that many commercial banks in the Eleventh District are lagging in conforming to the MICR Program. Because of the importance of every bank to the check clearing system, I strongly urge that all banks redouble their efforts in moving forward in the program. Survey figures for the Eleventh District are furnished on the other side of this letter. Yours very truly, Watrous H. Irons President This publication was digitized and made available bj the Federal Feserve Tank o f Fallas' Historical Fibraiy (FedHistory@dal.frb.org). This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BREAKDOWN BY RESERVE OFFICES OF THE ELEVENTH DISTRICT N um ber o f Checks Surveyed N um ber o f Checks C onform in g Percentage o f C onform ity Dallas City Country 44,892 210,634 27,259 83,374 61 40 El Paso City Country 10,643 39,691 4,928 17,255 46 43 Houston City Country 33,918 133,735 13,657 61,117 40 46 San Antonio City Country 29,589 112,813 9,750 40,921 33 36 Office BREAKDOWN FOR CERTAIN LARGER POINTS Num ber o f Checks Surveyed N um ber o f Checks C onform in g Percentage o f C onform ity Abilene, Texas 3,536 1,006 28 Amarillo, Texas 5,688 1,062 19 Austin, Texas 8,505 4,906 58 Beaumont, Texas 7,527 5,985 80 Corpus Christi, Texas 8,824 3,670 42 Fort Worth, Texas 4,478 2,771 62 Lubbock, Texas 5,646 1,984 35 Waco, Texas 3,412 1,121 33 Wichita Falls, Texas 4,511 1,976 44 Shreveport, Louisiana 5,124 1,007 20 Tucson, Arizona 5,831 2,856 49 City