Full text of District Notices (Federal Reserve Bank of Dallas) : Cancellation of Present Circular No. 5, Series of 1926 Entitled "Offerings of Livestock Paper", [Circular No. 28-4]

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Circular No. 4
Series of 1928

FE D E R A L R E SE R V E B AN K
OF DALLAS

Dallas, Texas, March 28, 1928.

CANCELLATION OF PRESENT CIRCULAR NO. 5, SERIES OF 1926
ENTITLED “ OFFERINGS OF LIVESTOCK PAPER”

To the Member Bank Addressed:
At a meeting on December 7, 1926, the Board of Directors of this bank
adopted the report of a committee appointed to draft a circular in reference
to rediscounting live stock paper. In conformity with this action there
was issued on December 15, 1926, Circular No. 5, subject “ Offerings of
Live Stock Paper,” which was a revision of, and superseded, Circular No. 3,
Series of 1926.
Due to the fact that apparently some member banks have misinter­
preted the provisions of the above mentioned circular, full consideration
was given the matter at the last meeting of our Board of Directors. With
the view of correcting any erroneous impressions that may have been
formed, our Board adopted a resolution rescinding the circular mentioned,
and it is, therefore, no longer in effect.

Yours very truly,

Governor.

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