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