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federal

R e s e r v e Ba n k

OF DALLAS

Dallas, Texas, August 26, 1963

To All Banks in the
Eleventh Federal Reserve District:

Further progress in the Magnetic Ink Character Recognition Program of the
American Bankers Association has been shown by the latest survey by the Federal
Reserve System. Almost 85 percent of the checks clearing through Reserve bank
offices now contain the preprinted magnetic ink identification numbers of the banks
on which they are drawn.
During the past six months, the banks of the Eleventh District made the
greatest gain of the System in percentage of preprinted checks, moving up from
63 percent to 73 percent. Despite the gain, however, the District standing remains
some 11 percent below the national average. Also, the information obtained from the
survey indicates that a number of Eleventh District banks still have only a relatively
small portion o f their checks preprinted.
High-speed equipment for processing the magnetic ink encoded checks will be
installed at our Dallas office within the next two months, and a number of commercial
banks in this area already have, or soon will have, such installations. Therefore, I
again urge the banks of the District to bring their checks into conformity with the
MICR program as quickly as possible.
Survey figures pertaining to this area are furnished on the other side of this
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)

BREAKDOWN BY RESERVE OFFICES OF THE ELEVENTH DISTRICT
Number of Checks
Surveyed

Number of
Checks Conforming

Percentage of
Conformity

Dallas
City
Country

51,748
268,161

46,091
191,633

89
71

El Paso
City
Country

12,957
34,649

11,023
25,151

85
73

Houston
City
Country

32,748
142,022

26,158
101,009

80
71

San Antonio
City
Country

24,743
127,471

17,086
91,064

69
71

Office

BREAKDOWN BY STATES LOCATED WHOLLY OR IN
PART IN THE ELEVENTH DISTRICT
Percent of Preprinting
Banks in
11th District

All Banks
in State

77
61
71
56
74

State

82
68
78
73
74

Arizona
Louisiana
New Mexico
Oklahoma
Texas

BREAKDOWN FOR CERTAIN LARGER POINTS IN THE ELEVENTH DISTRICT
City

Number of Checks
Surveyed

Number of
Checks Conforming

Percentage of
Conformity

Abilene, Texas

4,474

3,155

71

Amarillo, Texas

6,399

4,589

72

Austin, Texas

8,430

6,251

74

Beaumont, Texas

8,042

7,341

91

Corpus Christi, Texas

8,801

6,171

70

12,619

11,160

88

Lubbock, Texas

5,601

3,132

56

Waco, Texas

4,513

1,928

43

Wichita Falls, Texas

5,845

3,974

69

Tucson, Arizona

3,171

2,609

82

11,960

6,948

58

1,337

1,051

79

827

414

50

Fort Worth, Texas

Shreveport, Louisiana
Roswell, New Mexico
Durant, Oklahoma

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