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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