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Federal reserve Ba n k OF DALLAS Dallas, Texas, August 27,1962 To A ll Banks in the Eleventh Federal Reserve D istrict: The M agnetic Ink Character Recognition Program of the American Bankers Associa tion continues to progress. The latest survey made by the Federal Reserve banks indicates that 68 percent of the checks cleared through the Reserve System are preprinted in m agnetic ink, while 56 percent of those cleared through the Reserve bank offices of this D istrict are preprinted. The analysis of m agnetic ink printing by states indicates th at N ew Mexico, w ith a ratio of 62 percent, is ranked 24th; Texas, w ith 56 percent, 30th; Oklahoma, w ith 53 percent, 34th; Arizona, w ith 50 percent, 37th; and Louisiana, w ith 45 percent, 42nd. Of the states in this District, New Mexico showed the greatest improvement, 18 percent, in the volume of preprinted checks. A s an additional step in promoting the program, special letters have been sent to school officials and municipal and county finance officers in the State of Texas soliciting their cooperation in the MICR Program. A s soon as it is practicable, sim ilar letters will be addressed to corresponding officials in those sections of the other states located in the Eleventh D istrict. Banks are requested to assist their local officials in any way possible. Although the increase in the D istrict’s preprinting ratio, which rose from 42 percent in February to 56 percent in A ugust, is encouraging, much more work remains to be done. Therefore, I again urge all banks to continue their best efforts to move forward in the program. Survey figures for the Eleventh D istrict are furnished on th e other side of th is letter. Yours very truly, Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) BREAK DO W N B Y R E SE R V E O FFICES OF T H E E L E V E N T H DISTRICT Number of Checks Surveyed Office Number of Checks Conforming Percentage of Conformity Dallas City Country 41,573 224,365 26,569 125,181 64 56 E l Paso City Country 10,751 30,553 7,178 18,886 67 62 Houston City . Country 23,223 133,688 12,501 76,389 54 57 31,181 96,404 13,579 49,639 44 51 San Antonio City Country BREAKDOWN FOR CERTAIN LARGER POINTS Number of Checks Surveyed Number of Checks Conforming Percentage of Conformity Abilene, Texas 2,813 1,398 50 Amarillo, Texas 4,470 1,934 43 Austin, Texas 6,543 3,770 58 Beaumont, Texas 7,117 5,971 84 Corpus Christi, Texas 8,149 3,952 48 Fort Worth, Texas 6,926 5,325 77 Lubbock, Texas 4,520 2,156 48 Waco, Texas 3,084 1,213 39 W ichita Falls, Texas 3,801 2,120 56 Shreveport, Louisiana 7,743 2,434 31 Tucson, Arizona 3,398 2,163 64 City
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