View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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

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