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F ederal Reserve Bank

Dallas, Texas, July 28,1942

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

We have today received a letter from the Federal Reserve Bank of
Philadelphia, reading as follows:
“ We are without returns for items enclosed in our cash letters
of various dates, as far back as July 16, 1942, to some of the banks
affected by the severe floods in northwest Pennsylvania, particularly
banks in McKean, Potter, Elk, and Cameron counties.
“ Every effort will be made to effect collection, but we have been
unable definitely to determine if all the items have been received or
when remittance for them will be made. We shall report on all items
of $500 and over enclosed in the letters affected, for which payment
has not been received.”
Cash items payable in the Third Federal Reserve District received by
us or sent direct by member banks are being credited according to our pub­
lished time schedule, subject to the right to charge back at any time any
such items that are unpaid.

Yours very truly,


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