Full text of District Notices (Federal Reserve Bank of Dallas) : Eastern Exchange Rates, [Circular No. 15-22]

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FORM

M ISCL.

14.

2-1S-20M -10125

FEDERAL RESERVE BANK
O F D A LLA S

Sef>t. 4 th , 1915.

number

zz+
J^^RN_EXCHAK($ RATES._

TO THE MEMBER BANK ADDRESSED:
The movement o f c o t t o n and the consequent demand
f o r cu rren cy has c r e a te d q u ite a f r e e o f f e r in g o f New Y ork,
S a in t Louis and Chicago Exchange.
To f i l l cu rren cy o r d e r s , we are t h e r e fo r e com­
p e lle d t o sh ip hack b a la n ces c r e a te d by the a b s o rp tio n o f
Eastern Exchange f o r our member banks.
Today our r a t e s are p a r .

H erea fter through the

c o t t o n movement our r a te s w ill be s u b je c t to market flu c t u a ­
tio n s from day to day*

We s h a ll be g la d t o quote r a te s by

w ire on r e q u e s t, but such r a te s w i l l be good f o r th a t day
on ly and s u b je c t to immediate accep ta n ce by w ire*
E a stern Exchange r e c e iv e d from member banks w i l l
be c r e d it e d on day r e c e iv e d at th e p r e v a ilin g r a te f o r th e
day*

D ra fts on us c le a r e d through o th e r Federal

R eserve Banks

w i l l be tr e a te d in a s im ila r manner when p a id by u s .
The o f f e r to sh ip Federal R eserve Notes f r e e ag ain st
d e p o s it s o f

Eastern Exchange as l a s t r e fe r r e d to in our l e t t e r

May 13th i s hereby revok ed .
R e s p e c tfu lly ,

LYNN P. TALLEY,
C a s h ie r

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