Full text of District Notices (Federal Reserve Bank of Dallas) : [Bulletin No. 8A, Check Collection Time Schedule, Effective April 1, 1958]

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

F ederal Reserve Bank
OF

DALLAS

Dallas, Texas, March 27, 1958

To the Member and Nonmember Clearing Banks
o f the Eleventh Federal Reserve District:

This bank’s Bulletin No. 8A, “ Check Collection Time Schedule and Other
Information Relating to the Collection o f Cash Items,” has been revised effec­
tive April 1, 1958, and will supersede our Bulletin No. 8A dated March 28, 1955.
Several changes have been made in the revised bulletin; however, the more
significant revisions are in the time schedule portion o f the bulletin and involve
changes in the closing hours for the receipt o f certain classes of immediate
credit items and the acceptance o f items drawn on three Dallas banks on an
immediate credit basis which were formerly handled on a deferred basis.
H eretofore, the closing time for city items at each of our offices has been
only one hour in advance o f the clearing house meeting hour in the respective
cities. During recent years increased volume and delays in transit frequently
resulted in heavy receipts o f city items just prior to the closing hour. Most o f
such items could not be processed in time for clearance in the current day’ s
business. In view o f this, and our established policy o f allowing immediate
credit for all city items received up to the specified closing time, it has become
necessary to adopt a more realistic closing hour. Accordingly, beginning with
the effective date of the revised bulletin, the closing time for city items will be
one hour earlier than heretofore, as indicated in the time schedule on page 3.
W e shall continue, however, to process and present city items up to the latest
possible hour, and to allow immediate credit for all such items processed.
Items received after the closing hour shown in the revised time schedule which
we are unable to clear currently will not be credited until the next business day.
Another change which will be observed in the time schedule portion o f
the bulletin is a later closing hour for the acceptance o f postal money orders
and checks drawn on the Treasurer o f the United States. These items formerly
were accepted up to 1 :00 p.m. for immediate credit but they now will be accepted
up to 2 :00 p.m.

(over)

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library
(FedHistory@dal.frb.org)

Effective April 1, 1958, checks drawn on the Grove State Bank, the
Hillcrest State Bank, and the Preston State Bank o f Dallas will be collectible
on an immediate credit basis. Checks on these banks previously were collectible
only on a deferred basis, and were subject to a two-business day deferment, but
those deposited on and after April 1 should be included with other Dallas city
items.
Banks located in the territory served by our head office will observe that
Minneapolis (together with its twin city, St. Paul), formerly listed in the one
business-day section o f the head office time schedule, has been deleted. Banks
located in our San Antonio territory will note that El Paso, Denver, and Salt
Lake City have been added to the one business-day section o f the San Antonio
branch time schedule while Birmingham has been deleted.
One copy o f the revised Bulletin No. 8A is enclosed for filing in your ring
binder containing current bulletins o f this bank and the regulations of the
Board o f Governors of the Federal Reserve System. Additional copies o f the
bulletin may be obtained from the office o f this bank serving the territory in
which your bank is located.
Please acknowledge receipt o f the enclosed Bulletin No. 8 A by signing
and returning to us the attached postal card.
Yours very truly,
W atrous H. Irons
President

FEDERAL RESERVE BANK
OF DALLAS

BULLETIN No. 8A
(Head Office)
APRIL 1, 1958

(Superseding Bulletin No. 8A
dated March 28, 1955)

DALLAS HEAD OFFICE
CHECK COLLECTION TIME SCHEDULE AND OTHER
INFORMATION RELATING T O TH E COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
in the Territory Assigned to the Head Office:
1. Subject to the terms and conditions o f Regulation J of the Board of
Governors o f the Federal Reserve System, o f our Bulletin No. 8 relating to
the collection o f cash items, and o f this bulletin, this bank will give credit on
its books to member and nonmember clearing banks at the times indicated
herein for cash items payable at par which are (a ) deposited with this office
or (b ) sent direct to other offices o f the Federal Reserve Bank o f Dallas or
( c ) sent, with our permission, direct to Federal Reserve banks and branches
o f other districts for our account. Credit is subject to applicable closing hours
and sorting requirements as shown herein. Credit for cash letters containing
items unassorted as to availability may be deferred for the longest period of
availability prescribed herein with respect to^ any item enclosed. Credit for
items received after the applicable closing hours will be computed from the
following business day.
PREPARATION OF CASH LETTERS BY SENDING BANKS

2. In order to obtain prompt credit, member and nonmember clearing
banks should assort items and list them in separate cash letters according to
the sorting classifications shown in this bulletin.
3. Member and nonmember clearing banks’ own drafts on their com­
mercial bank correspondents should be sent in separate cash letters. The cash
letters enclosing such items should be clearly marked “ Transfer D raft” ;
and, when sent direct to other Federal Reserve offices, the direct sending advice
likewise should be marked “ Transfer D raft,” with the A .B .A . transit number
o f the drawee bank indicated thereon.

—

2

—

BULLETIN No. 8A

4. A ll cash items, whether subject to immediate or deferred credit, may
be deposited with this bank or forwarded by banks having the direct sending
privilege to other Federal Reserve offices, without description; however, send­
ing banks should maintain adequate records to enable them to identify their
depositors or endorsers in the event any items are lost or destroyed or are
otherwise uncollectible and nonreturnable.
5. Items may be listed on machine tapes in lieu o f listing on cash letter
forms but the totals o f the tape lists should be recapped on a cash letter form
bearing the name and A .B .A . transit number o f the sending bank and the
date o f transmittal. It would be helpful if not more than 300 items are listed
on each tape nor more than four such tapes recapped to one cash letter form.
GENERAL PROVISIONS

Time o f Presentment
6. This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise o f ordinary care, by the provisions o f the appli­
cable laws in effect in the State o f Texas.
Saturday Closing and Holidays
7. This bank will process and dispatch deferred credit items on any Satur­
day which is not a legal holiday, even though we are closed for general bank­
ing purposes as permitted under the provisions o f Article 459Id, V ernon’s
Revised Civil Statutes o f Texas.
8. In computing the availability o f deferred credit items, Sundays and
all legal holidays observed by this bank will be excluded; but any day on
which this bank will be open for business will be counted as a business day,
notwithstanding that the bank on which any such item is drawn or the Fed­
eral Reserve bank or branch through which any such item is collected is closed.
In addition, any Saturday which is not a legal holiday for this bank will be
treated as a business day (except that no credits will mature on Saturday).
Deferred credit for transfer drafts will, in any case, be based on actual col­
lection time.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Saturday, Sunday, or legal holiday for this bank, credit will
be given on the next succeeding business day.

— 3—

BULLETIN No. 8A

HEAD OFFICE TIME SCHEDULE
Effective April 1, 1958
10.
The following schedule shows when credit will be available for items
received and accepted as cash items at the head office o f the Federal Reserve
Bank o f D allas:
Dallas
(Closing hour 9:00 a.m.)
Fort Worth — Limited to bank drafts drawn on certain Fort Worth
member banks which are payable to our order and are drawn by member
and nonmember clearing banks located in the Eleventh Federal Reserve
District.
(Closing hour 10:30 a.m.)
Immediate
Credit
(Monday
through
Friday)

Postal money orders.
Checks drawn on the Treasurer of the United States.
Drafts on Commodity Credit Corporation payable through Dallas office
of Federal Reserve Bank of Dallas.
Drafts on Federal Reserve Bank of Dallas and its branches; subject to
inspection and verification of signatures at the head office or branch on
which they are drawn.
Cashier’s checks and expense checks of all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2:00 p.m.)

i
Business
Day After
Receipt

**

2
Business
Days After
Receipt

**
** *

El Paso
♦Houston
♦San Antonio

Atlanta
Birmingham
Chicago
Denver
Jacksonville

Kansas City
Little Rock
Memphis
Nashville

New Orleans
Oklahoma City
Omaha
St. Louis

(Closing hour 12:00 noon — Saturday 11:00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 2 :30 p.m.)
Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12:00 noon — Saturday 11:00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 2 :30 p.m.)

♦Items drawn on banks located in outlying sections of the city indicated are collectible
only on a deferred basis after receipt in such city and are subject to deferred credit of
two business days. (A list of these banks appears on page 4.) Such items should not
be listed with items which are collectible on an immediate credit basis in that city.
♦♦Deferred credit for a member or nonmember clearing bank’s own draft on its commer­
cial bank correspondent will be based on actual collection time.
♦♦♦Credit for items payable in other Federal Reserve bank and branch cities, which are
deposited in separate letters, will be deferred on a calendar day basis when the items
are in transit to banks in those cities on a Sunday or a holiday; except that this pro­
vision shall not apply with respect to items payable in San Francisco and Los Angeles,
credit for which will be deferred only on a business day basis.

—

4

—

BULLETIN No. 8A

ITEMS COLLECTED ON A DEFERRED BASIS

11.
Items drawn on the following banks located in outlying sections o f
the cities indicated are subject to deferred credit. Such items should not be
listed with items which are collectible on an immediate credit basis.

Name o f Bank

Location
HOUSTON BRANCH TERRITORY

*Airline State B a n k .....................................................................Houston, Texas
Almeda State B a n k ....................................................................Houston, Texas
American National B a n k .........................................................Houston, Texas
**Chimney Rock National B a n k ................................................Houston, Texas
Commercial State B a n k .........................................................Houston, Texas
East End State B a n k .............................................................. Houston, Texas
Fannin State B a n k ....................................................................Houston, Texas
First State Bank of Green’s B a y o u ......................................... Houston, Texas
Gulf gate State B a n k ....................................................................Houston, Texas
Harrisburg National B a n k ....................................................Houston, Texas
Heights State B a n k ....................................................................Houston, Texas
Highland Village State B a n k .............................................. Houston, Texas
Industrial State B a n k .............................................................. Houston, Texas
Lockwood National B a n k ......................................................... Houston, Texas
Long Point National B a n k ......................................................... Houston, Texas
M acGregor Park National B a n k .............................................. Houston, Texas
Montrose National B a n k ......................................................... Houston, Texas
***Northeast National B a n k .......................................................... Houston, Texas
North Side State B a n k .............................................................. Houston, Texas
Oak Forest State B a n k ...............................................................Houston, Texas
Port City State B a n k .............................................................. Houston, Texas
Reagan State B a n k ....................................................................Houston, Texas
River Oaks State B a n k .............................................................. Houston, Texas
Spring Branch State B a n k ....................................................Houston, Texas
University State B a n k .............................................................. Houston, Texas
SAN ANTONIO RRANCH TERRITORY

American State B a n k ......................................................San Antonio, Texas
Broadway National Bank o f Alamo Heights . . . San Antonio, Texas
Harlandale State B a n k ................................................ San Antonio, Texas
Highland Park State B a n k ...........................................San Antonio, Texas
Jefferson State B a n k ..................................................... San Antonio, Texas
Kelly Field National B a n k ...........................................San Antonio, Texas
National Bank o f Fort Sam H o u s t o n ..................... San Antonio, Texas
Northside State B a n k ................................................ San Antonio, Texas
Union State B a n k ...........................................................San Antonio, Texas
♦Tentative Opening Date July 15, 1958.
♦♦Scheduled Opening Date April 11, 1958.
♦♦♦Tentative Opening Date June 1, 1958.

5

—

BULLETIN No. 8A

CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER
FEDERAL RESERVE OFFICES

12.
Member and nonmember clearing banks which have arranged to send
cash items direct to other Federal Reserve offices for the account o f this bank
will be given credit for items1 so sent as specified below :
(a ) Items payable in Federal Reserve bank or branch cities2— ■
Based on the time (not to exceed two business days from date o f
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval3;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
T w o business days from date o f dispatch;
provided, however, that this bank may, by giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

’■Deferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.
including items payable in localities adjacent to such cities which bear a routing symbol
or other notation indicating immediate availability at the Federal Reserve bank or branch
to which forwarded but excluding items drawn on banks located in outlying sections of
Federal Reserve bank or branch cities which bear a deferred routing symbol. (A list of
banks located in outlying sections of certain Federal Reserve branch cities of the Eleventh
District, checks on which are collectible only on a deferred credit basis, is shown on page
4 of this bulletin.)
3When such items are in transit on a Sunday or a holiday, credit will be deferred on a
calendar day basis; except that this provision shall not apply with respect to items payable
in San Francisco and Los Angeles, credit for which will be deferred only on a business day
basis.

(Over)

—

6

BULLETIN No. 8A

—

POST OFFICE ADDRESSES OF HEAD OFFICE
AND BRANCHES

13.
All mail, forwarding cash items to the head office or branches o f the
Federal Reserve Bank o f Dallas, should be addressed as follow s:
Head Office
Federal Reserve Bank
Station K
Dallas 2, Texas

El Paso Branch
Federal Reserve Bank Branch
P. O. B ox 100
El Paso, Texas
Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

RIGHT TO AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any of the provisions o f this bulletin.
Yours very truly,
Watrous H. Irons
President

FEDERAL RESERVE BANK
OF DALLAS

BULLETIN No. 8A
(El Paso Branch)
APRIL 1, 1958

(Superseding Bulletin No. 8A
dated March 28, 1955)

EL PASO BRANCH
CHECK COLLECTION TIM E SCHEDULE AND OTHER
INFORMATION RELATING T O TH E COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
in the Territory Assigned to the El Paso Branch:
1. Subject to the terms and conditions o f Regulation J o f the Board of
Governors o f the Federal Reserve System, o f our Bulletin No. 8 relating to
the collection o f cash items, and o f this bulletin, this bank will give credit on
its books to member and nonmember clearing banks at the times indicated
herein for cash items payable at par which are (a ) deposited with this office
or (b ) sent direct to other offices of the Federal Reserve Bank o f Dallas or
( c ) sent, with our permission, direct to Federal Reserve banks and branches
o f other districts for our account. Credit is subject to applicable closing hours
and sorting requirements as shown herein. Credit for cash letters containing
items unassorted as to availability may be deferred for the longest period of
availability prescribed herein with respect to any item enclosed. Credit for
items received after the applicable closing hours will be computed from the
following business day.
PREPARATION OF CASH LETTERS BY SENDING BANKS

2. In order to obtain prompt credit, member and nonmember clearing
banks should assort items and list them in separate cash letters according to
the sorting classifications shown in this bulletin.
3. Member and nonmember clearing banks’ own drafts on their com ­
mercial bank correspondents should be sent in separate cash letters. The cash
letters enclosing such items should be clearly marked “ Transfer D raft” ;
and, when sent direct to other Federal Reserve offices, the direct sending advice
likewise should be marked “ Transfer D raft,” with the A .B .A . transit number
o f the drawee bank indicated thereon.

—

2

—

BULLETIN No. 8A

4. A ll cash items, whether subject to immediate or deferred credit, may
be deposited with this bank or forwarded by banks having the direct sending
privilege to other Federal Reserve offices, without description; however, send­
ing banks should maintain adequate records to enable them to identify their
depositors or endorsers in the event any items are lost or destroyed or are
otherwise uncollectible and nonreturnable.
5. Items may be listed on machine tapes in lieu o f listing on cash letter
forms but the totals o f the tape lists should be recapped on a cash letter form
bearing the name and A .B .A . transit number o f the sending bank and the
date o f transmittal. It would be helpful if not more than 300 items are listed
on each tape nor more than four such tapes recapped to one cash letter form.
GENERAL PROVISIONS

Time o f Presentment
6. This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise o f ordinary care, by the provisions o f the appli­
cable laws in effect in the State o f Texas.
Saturday Closing and Holidays
7. This bank will process and dispatch deferred credit items on any Satur­
day which is not a legal holiday, even though we are closed for general bank­
ing purposes as permitted under the provisions o f Article 4591d, Vernon’s
Revised Civil Statutes o f Texas.
8. In computing the availability o f deferred credit items, Sundays and
all legal holidays observed by this bank will be excluded; but any day on
which this bank will be open for business will be counted as a business day,
notwithstanding that the bank on which any such item is drawn or the Fed­
eral Reserve bank or branch through which any such item is collected is closed.
In addition, any Saturday which is not a legal holiday for this bank will be
treated as a business day (except that no credits will mature on Saturday).
Deferred credit for transfer drafts will, in any case, be based on actual col­
lection time.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Saturday, Sunday, or legal holiday for this bank, credit will
be given on the next succeeding business day.

_

3—

BULLETIN N o . 8A

EL PASO BRANCH TIME SCHEDULE
Effective April 1, 1 958
10.
The following schedule shows when credit will be available for
items received and accepted as cash items at the El Paso branch o f the Federal
Reserve Bank o f Dallas :
El Paso
(Closing hour 8:45 a.m.)
Immediate
Credit
(Monday
through
Friday)

Postal Money orders.
Checks drawn on the Treasurer of the United States.
Drafts on Federal Reserve Bank of Dallas and its branches; subject to
inspection and verification of signatures at the head office or branch
on which they are drawn.
Cashier's checks and expense checks of all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2:00 p.m.)

Dallas
i
Business
Day After
Receipt
*#

2
Business
Days After
Receipt
* *
tf*

Denver

Memphis

Nashville

Fort Worth — Limited to bank drafts drawn on certain Fort Worth
member banks which are payable to our order and are drawn by mem­
ber and nonmember clearing banks located in the Eleventh Federal
Reserve District.
(Closing hour 12 :00 noon —■
Saturday 11:00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 2 :00 p.m.)

♦Houston

♦San Antonio

Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12:00 noon — Saturday 11 :00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 2:00 p.m.)

*Items drawn on banks located in outlying sections of the city indicated are collectible
only on a deferred basis after receipt in such city and are subject to deferred credit of
two business days. (A list of these banks appears on page 4.) Such items should not
be listed with items which are collectible on an immediate credit basis in that city.
♦♦Deferred credit for a member or nonmember clearing bank’s own draft on its commer­
cial bank correspondent will be based on actual collection time.
♦♦♦Credit for items payable in other Federal Reserve bank and branch cities, which are
deposited in separate letters, will be deferred on a calendar day basis when the items
are in transit to banks in those cities on a Sunday or a holiday; except that this pro­
vision shall not apply with respect to items payable in San Francisco and Los Angeles,
credit for which will be deferred only on a business day basis.

BULLETIN No. 8A

ITEMS COLLECTED ON A DEFERRED BASIS

11.
Items drawn on the following banks located in outlying sections of
the cities indicated are subject to deferred credit. Such items should not be
listed with items which are collectible on an immediate credit basis.

Name o f Bank

Location
HOUSTON BRANCH TERRITORY

♦Airline State B a n k .....................................................................Houston,
Almeda State B a n k ....................................................................Houston,
American National B a n k ......................................................... Houston,
♦♦Chimney Rock National B a n k ............................................... Houston,
Commercial State B a n k ......................................................... Houston,
East End State B a n k .............................................................. Houston,
Fannin State B a n k ....................................................................Houston,
First State Bank o f Green’s B a y o u ......................................... Houston,
Gulf gate State B a n k ....................................................................Houston,
Harrisburg National B a n k ....................................................Houston,
Heights State B a n k ....................................................................Houston,
Highland Village State B a n k .............................................. Houston,
Industrial State B a n k .............................................................. Houston,
Lockwood National B a n k ......................................................... Houston,
Long Point National B a n k ......................................................... Houston,
M acGregor Park National B a n k .............................................. Houston,
Montrose National B a n k ......................................................... Houston,
*** Northeast National B a n k .......................................................... Houston,
North Side State B a n k .............................................................. Houston,
Oak Forest State B a n k ...............................................................Houston,
Port City State B a n k .............................................................. Houston,
Reagan State B a n k ....................................................................Houston,
River Oaks State B a n k .............................................................. Houston,
Spring Branch State B a n k ....................................................Houston,
University State B a n k .............................................................. Houston,

Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas

SAN ANTONIO BRANCH TERRITORY

American State B a n k ......................................................San Antonio, Texas
Broadway National Bank o f Alamo Heights . . . San Antonio, Texas
Harlandale State B a n k ................................................ San Antonio, Texas
Highland Park State B a n k ........................................... San Antonio, Texas
Jefferson State B a n k ......................................................San Antonio, Texas
Kelly Field National B a n k ...........................................San Antonio, Texas
National Bank o f Fort Sam F l o u s t o n ..................... San Antonio, Texas
Northside State B a n k ................................................ San Antonio, Texas
Union State B a n k ...........................................................San Antonio, Texas
♦Tentative Opening Date July 15, 1958.
♦♦Scheduled Opening Date April 11, 1958.
♦♦♦Tentative Opening Date June 1, 1958.

—

5

—

BULLETIN No. 8A

CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER
FEDERAL RESERVE OFFICES

12.
Member and nonmember clearing banks which have arranged to send
cash items direct to other Federal Reserve offices for the account o f this bank
will be given credit fo r items1 so sent as specified below :
(a ) Items payable in Federal Reserve bank or branch cities2 —
Based on the time (not to exceed two business days from date o f
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval3;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
T w o business days from date o f dispatch;
provided, however, that this bank may, by giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

’Ueferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.
including items payable in localities adjacent to such cities which bear a routing symbol
or other notation indicating immediate availability at the Federal Reserve bank or branch
to which forwarded but excluding items drawffion banks located in outlying sections of
Federal Reserve bank or branch cities which bear a deferred routing symbol. (A list of
banks located in outlying sections o f certain Federal Reserve branch cities of the Eleventh
District, checks on which are collectible only on a deferred credit basis, is shown on page
4 of this bulletin.)
3When such items are in transit on a Sunday or a holiday, credit will be deferred on a
calendar day basis; except that this provision shall not apply with respect to items payable
in San Francisco and Los Angeles, credit for which will be deferred only on a business day
basis.

(Over)

—

6

BULLETIN No. 8A

—

POST OFFICE ADDRESSES OF HEAD OFFICE
AND BRANCHES

13.
A ll mail, forwarding cash items to the head office or branches o f the
Federal Reserve Bank o f Dallas, should be addressed as fo llo w s:
Head Office
Federal Reserve Bank
Station K
Dallas 2, Texas

El Paso Branch
Federal Reserve Bank Branch
P. O. B ox 100
El Paso, Texas
Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

RIGHT TO AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any o f the provisions o f this bulletin.
Yours very truly,
Watrous H. Irons
President

FEDERAL RESERVE BANK
OF DALLAS

BULLETIN No. 8A
(Houston Branch)
APRIL 1 ,1 9 5 8

(Superseding Bulletin No. 8A
dated March 28, 1955)

HOUSTON BRANCH
CHECK COLLECTION TIME SCHEDULE AND OTHER
INFORMATION RELATING T O TH E COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
in the Territory Assigned to the Houston Branch:
1. Subject to the terms and conditions o f Regulation J o f the Board of
Governors o f the Federal Reserve System, o f our Bulletin No. 8 relating to
the collection o f cash items, and o f this bulletin, this bank will give credit on
its books to member and nonmember clearing banks at the times indicated
herein for cash items payable at par which are (a ) deposited with this office
or (b ) sent direct to other offices of the Federal Reserve Bank o f Dallas or
(c ) sent, with our permission, direct to Federal Reserve banks and branches
o f other districts for our account. Credit is subject to applicable closing hours
and sorting requirements as shown herein. Credit for cash letters containing
items unassorted as to availability may be deferred for the longest period of
availability prescribed herein with respect to any item enclosed. Credit for
items received after the applicable closing hours will be computed from the
following business day.
PREPARATION OF CASH LETTERS BY SENDING BANKS

2. In order to obtain prompt credit, member and nonmember clearing
banks should assort items and list them in separate cash letters according to
the sorting classifications shown in this bulletin.
3. Member and nonmember clearing banks’ own drafts on their com ­
mercial bank correspondents should be sent in separate cash letters. The cash
letters enclosing such items should be clearly marked “ Transfer D raft” ;
and, when sent direct to other Federal Reserve offices, the direct sending advice
likewise should be marked “ Transfer D raft,” with the A .B .A . transit number
o f the drawee bank indicated thereon.

—

2

—

BULLETIN No. 8A

4. A ll cash items, whether subject to immediate or deferred credit, may
be deposited with this bank or forwarded by banks having the direct sending
privilege to other Federal Reserve offices, without description; however, send­
ing banks should maintain adequate records to enable them to identify their
depositors or endorsers in the event any items are lost or destroyed or are
otherwise uncollectible and nonreturnable.
5. Items may be listed on machine tapes in lieu o f listing on cash letter
forms but the totals of the tape lists should be recapped on a cash letter form
bearing the name and A .B .A . transit number o f the sending bank and the
date o f transmittal. It would be helpful if not more than 300 items are listed
on each tape nor more than four such tapes recapped to one cash letter form.
GENERAL PROVISIONS

Time o f Presentment
6. This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise o f ordinary care, by the provisions o f the appli­
cable laws in effect in the State o f Texas.
Saturday Closing and Holidays

7. This bank will process and dispatch deferred credit items on any Satur­
day which is not a legal holiday, even though we are closed for general bank­
ing purposes as permitted under the provisions o f Article 4591d, Vernon’s
Revised Civil Statutes o f Texas.
8. In computing the availability o f deferred credit items, Sundays and
all legal holidays observed by this bank will be excluded; but any day on
which this bank will be open for business will be counted as a business day,
notwithstanding that the bank on which any such item is drawn or the Fed­
eral Reserve bank or branch through which any such item is collected is closed.
In addition, any Saturday which is not a legal holiday for this bank will be
treated as a business day (except that no credits will mature on Saturday).
Deferred credit for transfer drafts will, in any case, be based on actual col­
lection time.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Saturday, Sunday, or legal holiday for this bank, credit will
be given on the next succeeding business day.

— 3—

BULLETIN No. 8A

HOUSTON BRANCH TIME SCHEDULE
Effective April 1, 1 958
_ 10. The following schedule shows when credit will be available for
items received and accepted as cash items at the Houston branch o f the
Federal Reserve Bank o f Dallas:
Houston — except items drawn on certain outlying banks, as listed on
page 4.
(Closing hour 9:00 a.m.)
Immediate
Credit

Postal money orders.
Checks drawn on the Treasurer of the United States.

(Monday
through
Friday)

Drafts on Federal Reserve Bank of Dallas and its branches; subject to
inspection and verification of signatures at the head office or branch
on which they are drawn.
Cashier’s checks and expense checks of all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2:00 p.m.)
Houston — Items drawn on certain outlying banks, as listed on page 4.

1
Business
Day After
Receipt

* **

Dallas
El Paso
*San Antonio

Atlanta
Birmingham
Kansas City
Memphis

Nashville
New Orleans
Oklahoma City
St. Louis

Fort Worth — Limited to bank drafts drawn on certain Fort Worth mem­
ber banks which are payable to our order and are drawn by member
and nonmember clearing banks located in the Eleventh Federal Reserve
District.
(Closing hour 12 :00 noon — Saturday 11:00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 2:30 p.m.)

2
Business
Days After
Receipt

**
##*

Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12 :00 noon — Saturday 11 :00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 2:30 p.m.)

*Items drawn on banks located in outlying sections of the city indicated are collectible
only on a deferred basis after receipt in such city and are subject to deferred credit of
two business days. (A list of these banks appears on page 4.) Such items should not
be listed with items which are collectible on an immediate credit basis in that city.
**Deferred credit for a member or nonmember clearing bank's own draft on its commer­
cial bank correspondent will be based on actual collection time.
***Credit for items payable in other Federal Reserve bank and branch cities, which are
deposited in separate letters, will be deferred on a calendar day basis when the items
are in transit to banks in those cities on a Sunday or a holiday; except that this pro­
vision shall not apply with respect to items payable in San Francisco and Los Angeles,
credit for which will be deferred only on a business day basis.

—

4

—

BULLETIN No. 8A

ITEMS COLLECTED ON A DEFERRED BASIS

11.
Items drawn on the following banks located in outlying sections of
the cities indicated are subject to deferred credit. Such items should not be
listed with items which are collectible on an immediate credit basis.

Name o f Bank

Location

HOUSTON BRANCH TERRITORY (One business day deferment)

* Airline State B a n k .....................................................................Houston, Texas
Almeda State B a n k ................................................................... Houston, Texas
American National B a n k ......................................................... Houston, Texas
**Chimney Rock National B a n k ............................................... Houston, Texas
Commercial State B a n k ......................................................... Houston, Texas
East End State B a n k .............................................................. Houston, Texas
Fannin State B a n k ....................................................................Houston, Texas
First State Bank o f Green’s B a y o u ......................................... Houston, Texas
Gulfgate State B a n k ....................................................................Houston, Texas
Harrisburg National B a n k ....................................................Houston, Texas
Heights State B a n k ....................................................................Houston, Texas
Highland Village State B a n k .............................................. Houston, Texas
Industrial State B a n k .............................................................. Houston, Texas
Lockwood National B a n k ......................................................... Houston, Texas
Long Point National B a n k ......................................................... Houston, Texas
MacGregor Park National B a n k .............................................. Houston, Texas
Montrose National B a n k ......................................................... Houston, Texas
♦♦♦Northeast National B a n k .......................................................... Flouston, Texas
North Side State B a n k .............................................................. Houston, Texas
Oak Forest State B a n k .............................................................. Houston, Texas
Port City State B a n k .............................................................. Houston, Texas
Reagan State B a n k ....................................................................Houston, Texas
River Oaks State B a n k .............................................................. Houston, Texas
Spring Branch State B a n k ....................................................Houston, Texas
University State B a n k .............................................................. Houston, Texas
SAN ANTONIO BRANCH TERRITORY (Two business day deferment)

American State B a n k ......................................................San Antonio, Texas
Broadway National Bank o f Alamo Heights . . . San Antonio, Texas
Harlandale State B a n k ................................................ San Antonio, Texas
Highland Park State B a n k ...........................................San Antonio, Texas
Jefferson State B a n k ..................................................... San Antonio, Texas
Kelly Field National B a n k ...........................................San Antonio, Texas
National Bank o f Fort Sam H o u s t o n ..................... San Antonio, Texas
Northside State B a n k ................................................ San Antonio, Texas
Union State B a n k ...........................................................San Antonio, Texas

♦Tentative Opening Date July IS, 1958.
♦♦Scheduled Opening Date April 11, 19S8.
♦♦♦Tentative Opening Date June 1, 19S8.

—

5

—

BULLETIN No. 8A

CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER
FEDERAL RESERVE OFFICES

12.
Member and nonmember clearing banks which have arranged to send
cash items direct to other Federal Reserve offices for the account o f this bank
will be given credit for items1 so sent as specified below :
(a ) Items payable in Federal Reserve bank or branch cities2 —
Based on the time (not to exceed two business days from date o f
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval3;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
T w o business days from date o f dispatch;
provided, however, that this bank may, by giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

iDeferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.
2Including items payable in localities adjacent to such cities which bear a routing symbol
or other notation indicating immediate availability at the Federal Reserve bank or branch
to which forwarded but excluding items drawn on banks located in outlying sections of
Federal Reserve bank or branch cities which bear a deferred routing symbol. (A list of
banks located in outlying sections o f certain Federal Reserve branch cities of the Eleventh
District, checks on which are collectible only on a deferred credit basis, is shown on page
4 of this bulletin.)
3When such items are in transit on a Sunday or a holiday, credit will be deferred on a
calendar day basis; except that this provision shall not apply with respect to items payable
in San Francisco and Los Angeles, credit for which will be deferred only on a business day
basis.

(Over)

—

6

BULLETIN No. 8A

—

POST OFFICE ADDRESSES OF HEAD OFFICE
AND BRANCHES

13.
A ll mail, forwarding cash items to the head office or branches of the
Federal Reserve Bank o f Dallas, should be addressed as follow s:
Head Office
Federal Reserve Bank
Station K
Dallas 2, Texas

El Paso Branch
Federal Reserve Bank Branch
P. O. B ox 100
El Paso, Texas
Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

RIGHT TO AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any o f the provisions o f this bulletin.
Yours very truly,
Watrous H. Irons
President

FEDERAL RESERVE BANK
OF DALLAS

BULLETIN No. 8A
(San Antonio Branch)
APRIL 1, 1958

(Superseding Bulletin No. 8A
dated March 28, 1955)

SAN ANTONIO BRANCH
CHECK COLLECTION TIME SCHEDULE AND OTHER
INFORMATION RELATING T O TH E COLLECTION OF CASH ITEMS

T o the Member and Nonmember Clearing Banks
in the Territory Assigned to the San Antonio Branch:
1. Subject to the terms and conditions o f Regulation J o f the Board of
Governors o f the Federal Reserve System, o f our Bulletin No. 8 relating to
the collection o f cash items, and o f this bulletin, this bank will give credit on
its books to member and nonmember clearing banks at the times indicated
herein for cash items payable at par which are (a ) deposited with this office
or (b ) sent direct to other offices o f the Federal Reserve Bank o f Dallas or
( c ) sent, with our permission, direct to Federal Reserve banks and branches
o f other districts for our account. Credit is subject to applicable closing hours
and sorting requirements as shown herein. Credit for cash letters containing
items unassorted as to availability may be deferred for the longest period of
availability prescribed herein with respect to any item enclosed. Credit for
items received after the applicable closing hours will be computed from the
following business day.
PREPARATION OF CASH LETTERS BY SENDING BANKS

2. In order to obtain prompt credit, member and nonmember clearing
banks should assort items and list them in separate cash letters according to
the sorting classifications shown in this bulletin.
3. Member and nonmember clearing banks’ own drafts on their com­
mercial bank correspondents should be sent in separate cash letters. The cash
letters enclosing such items should be clearly marked “ Transfer D raft” ;
and, when sent direct to other Federal Reserve offices, the direct sending advice
likewise should be marked “ Transfer D raft,” with the A .B .A . transit number
o f the drawee bank indicated thereon.

—

2

BULLETIN No. 8A

4. A ll cash items, whether subject to immediate or deferred credit, may
be deposited with this bank or forwarded by banks having the direct sending
privilege to other Federal Reserve offices, without description; however, send­
ing banks should maintain adequate records to enable them to identify their
depositors or endorsers in the event any items are lost or destroyed or are
otherwise uncollectible and nonreturnable.
5. Items may be listed on machine tapes in lieu o f listing on cash letter
forms but the totals o f the tape lists should be recapped on a cash letter form
bearing the name and A .B .A . transit number of the sending bank and the
date o f transmittal. It would be helpful if not more than 300 items are listed
on each tape nor more than four such tapes recapped to one cash letter form.
GENERAL PROVISIONS

Tim e of Presentment
6. This bank does not by this bulletin, or otherwise, agree to present any
item, or to cause any item to be presented, earlier than such item is required
to be presented, in the exercise o f ordinary care, by the provisions o f the appli­
cable laws in effect in the State o f Texas.
Saturday Closing and Holidays
7. This bank will process and dispatch deferred credit items on any Satur­
day which is not a legal holiday, even though we are closed for general bank­
ing purposes as permitted under the provisions o f Article 4591d, V ernon’s
Revised Civil Statutes o f Texas.
8. In computing the availability o f deferred credit items, Sundays and
all legal holidays observed by this bank will be excluded; but any day on
which this bank will be open for business will be counted as a business day,
notwithstanding that the bank on which any such item is drawn or the Fed­
eral Reserve bank or branch through which any such item is collected is closed.
In addition, any Saturday which is not a legal holiday for this bank will be
treated as a business day (except that no credits will mature on Saturday).
Deferred credit for transfer drafts will, in any case, be based on actual col­
lection time.
9. W hen the day on which credit would otherwise be given, pursuant to
this bulletin, is a Saturday, Sunday, or legal holiday for this bank, credit will
be given on the next succeeding business day.

— 3—

BULLETIN N o. 8A

SAN ANTONIO BRANCH TIME SCHEDULE
Effective April 1, 1958
10.
The following schedule shows when credit will be available for
items received and accepted as cash items at the San Antonio branch o f the
Federal Reserve Bank o f Dallas:

San Antonio—-except items drawn on outlying banks, as listed on page 4.
(Closing hour 9:30 a.m.)
Postal money orders.
Checks drawn on the Treasurer of the United States.
Immediate
Credit
(Monday
through
Friday)

Drafts on Commodity Credit Corporation payable through San Antonio
branch of Federal Reserve Bank of Dallas.
Drafts on Federal Reserve Bank of Dallas and its branches; subject to
inspection and verification of signatures at the head office or branch
on which they are drawn.
Cashier’s checks and expense checks of all Federal Reserve banks and
branches.
Federal Reserve Exchange drafts.
(Closing hour 2:00 p.m.)

Dallas
El Paso
♦Houston
1
Business
Day After
Receipt

Atlanta
Denver
Kansas City

Memphis
Nashville
Oklahoma City
Salt Lake City

Fort Worth — Limited to bank drafts drawn on certain Fort Worth mem­
ber banks which are payable to our order and are drawn by member and
nonmember clearing banks located in the Eleventh Federal Reserve
District.
(Closing hour 12:00 noon — Saturday 11:00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 3:30 p.m.)

2
Business
Days After
Receipt

** *

San Antonio — Items drawn on outlying banks, as listed on page 4.
Items payable in all other places shown in the Federal Reserve Par List.
(Closing hour 12:00 noon — Saturday 11:00 a.m.; items of $500 or more,
when listed in separate letters containing only such items, will be received
Monday through Friday up to 3:30 p.m.)

♦Items drawn on banks located in outlying sections of the city indicated are collectible
only on a deferred basis after receipt in such city and are subject to deferred credit of
two business days. (A list of these banks appears on page 4.) Such items should not
be listed with items which are collectible on an immediate credit basis in that city.
♦♦Deferred credit for a member or nonmember clearing bank's own draft on its commer­
cial bank correspondent will be based on actual collection time.
♦♦♦Credit for items payable in other Federal Reserve bank and branch cities, which are
deposited in separate letters, will be deferred on a calendar day basis when the items
are in transit to banks in those cities on a Sunday or a holiday; except that this pro­
vision shall not apply with respect to items payable in San Francisco and Los Angeles,
credit for which will be deferred only on a business day basis.

—

4

—

BULLETIN No. 8A

ITEMS COLLECTED ON A DEFERRED BASIS

11.
Items drawn on the following banks located in outlying sections of
the cities indicated are subject to deferred credit. Such items should not be
listed with items which are collectible on an immediate credit basis.

Name o f Bank

Location
HOUSTON BRANCH TERRITORY

* Airline State B a n k .....................................................................Houston, Texas
Almeda State B a n k ................................................................... Houston, Texas
American National B a n k .........................................................Houston, Texas
**Chimney Rock National B a n k ............................................... Houston, Texas
Commercial State B a n k .........................................................Houston, Texas
East End State B a n k .............................................................. Houston, Texas
Fannin State B a n k ....................................................................Houston, Texas
First State Bank o f Green’s B a y o u ......................................... Houston, Texas
Gulf gate State B a n k ....................................................................Houston, Texas
Harrisburg National B a n k ....................................................Houston, Texas
Heights State B a n k ....................................................................Houston, Texas
Highland Village State B a n k .............................................. Houston, Texas
Industrial State B a n k .............................................................. Houston, Texas
Lockwood National B a n k .........................................................Houston, Texas
Long Point National B a n k ..................................................... Houston, Texas
MacGregor Park National B a n k ...........................................Houston, Texas
Montrose National B a n k ......................................................... Houston, Texas
***Northeast National B a n k .......................................................... Houston, Texas
North Side State B a n k .............................................................. Houston, Texas
Oak Forest State B a n k ...............................................................Houston, Texas
Port City State B a n k .............................................................. Houston, Texas
Reagan State B a n k ....................................................................Houston, Texas
River Oaks State B a n k .............................................................. Houston, Texas
Spring Branch State B a n k ................................................... Houston, Texas
University State B a n k .............................................................. Houston, Texas
SAN ANTONIO BRANCH TERRITORY

American State B a n k ..................................................... San Antonio, Texas
Broadway National Bank o f Alamo Heights . . . San Antonio, Texas
Harlandale State B a n k ................................................ San Antonio, Texas
Highland Park State B a n k ...........................................San Antonio, Texas
Jefferson State B a n k ................................ .....
San Antonio, Texas
Kelly Field National B a n k ...........................................San Antonio, Texas
National Bank o f Fort Sam H o u s t o n ......................San Antonio, Texas
Northside State B a n k ................................................ San Antonio, Texas
Union State B a n k ...........................................................San Antonio, Texas
^Tentative Opening Date July 15, 1958.
**Scheduled Opening Date April 11, 1958.
***Tentative Opening Date June 1, 1958.

—

5

—

BULLETIN N o. 8A

CREDIT FOR CASH ITEMS SENT DIRECT TO OTHER
FEDERAL RESERVE OFFICES

12.
Member and nonmember clearing banks which have arranged to send
cash items direct to other Federal Reserve offices for the account o f this bank
will be given credit for items1 so sent as specified below :
(a ) Items payable in Federal Reserve bank or branch cities2 —
Based on the time (not to exceed two business days from date o f
dispatch) normally required for the collection thereof, as may be
determined by the sending bank subject to our verification and
approval3;
(b ) Items payable in localities outside o f Federal Reserve bank or
branch cities —
T w o business days from date o f dispatch;
provided, however, that this bank may, by giving notice to any member or non­
member clearing bank, prescribe the manner, and the time before which, all
items or certain items must be dispatched by such bank in order to obtain such
credit.

aDeferred credit for a member or nonmember clearing bank’s own draft on its com­
mercial bank correspondent will be based on actual collection time.
including items payable in localities adjacent to such cities which bear a routing symbol
or other notation indicating immediate availability at the Federal Reserve bank or branch
to which forwarded but excluding items drawn on banks located in outlying sections of
Federal Reserve bank or branch cities which bear a deferred routing symbol. (A list of
banks located in outlying sections of certain Federal Reserve branch cities of the Eleventh
District, checks on which are collectible only on a deferred credit basis, is shown on page
4 of this bulletin.)
3When such items are in transit on a Sunday or a holiday, credit will be deferred on a
calendar day basis; except that this provision shall not apply with respect to items payable
in San Francisco and Los Angeles, credit for which will be deferred only on a business day
basis.

(Over)

6—

BULLETIN No. 8A

POST OFFICE ADDRESSES OF HEAD OFFICE
AND BRANCHES

13.
A ll mail, forwarding cash items to the head office or branches o f the
Federal Reserve Bank o f Dallas, should be addressed as fo llo w s:
Head Office
Federal Reserve Bank
Station K
Dallas 2, Texas

El Paso Branch
Federal Reserve Bank Branch
P. O. B ox 100
El Paso, Texas
Houston Branch
Federal Reserve Bank Branch
P. O. B ox 2578
Houston 1, Texas

San Antonio Branch
Federal Reserve Bank Branch
P. O. B ox 1471
San Antonio 6, Texas

RIGHT TO AMEND

14.
The time schedules contained herein supersede all previous schedules
and are subject to change without notice. The right is reserved to withdraw,
add to, or amend, at any time, any o f the provisions o f this bulletin.
Yours very truly,
Watrous H. Irons
President