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FO RM M IS C L. 14. 2-18-20M-10125 FEDERAL RESERVE BAN K OF DALLAS A p r il 2 6 , 1916* NUMBER 3 4 TO THE MEMBER BANK ADDRESSED: Your a t t e n t io n i s d ir e c te d t o the p r o v is io n s of S e c tio n 19 o f the F ederal R eserve A c t , w h ich , ‘beginning Hay 1 6 t h , 1 9 1 6 , r e q u ir e th e maintenance by member banks w ith th e Federal R eserve Bank o f r e s e r v e d e p o sits as f o ll o w s : banks L ocated elsewhere than i n central reserve a n d RESERVE CITIES — - f o u r -t w e lf t h s o f tw elv e per centum o f t h e ir demand d e p o sits p lu s f o u r -t w e lft h s o f f i v e per centum o f t h e i r tim e d e p o s its * BANKS LOCATED IN RESERVE CITIES fiv e fifte e n th s o f f i f t e e n per centum o f t h e ir demand d e p o sits p lu s f i v e - f i f t e e n t h s o f f i v e per centum o f t h e i r tim e d e p o sits* R eserves may be e s t a b lis h e d by d e p o sits o f g o ld or la w fu l money or F ed eral R eserve n o t e s , on shipments o f which CHARGES MUST BE PREPAID, GOLD COINS FALLING BELOW THE LIMIT OF TOLERANCE IN WEIGHT WILL BE ACCEPTED AT BULLION VALUE ONLY, AND SHORTAGES WILL BE CHARGED TO THE ACCOUNTS 0-F THE SENDING BANKS. D ra fts on members o f the F ederal R eserve system in New Y o rk , Chicago and S t* L ouis w i l l a ls o be accep ted at th e current r a t e o f exchange a p p lic a b le on th e date o f r e c e i p t . E l i g i b l e paper conform ing w ith the F ederal R eserve Act and r e g u la tio n s o f th e F ed eral R eserve Board may be accep ted in pay ment of not exceed ing o n e -h a lf of t h i s in s ta llm e n t* Such paper must be subm itted fo r discou n t on our re g u la r a p p lic a t io n b la n k s , and s u f f i c i e n t tim e allow ed fo r a c t io n on same by our E xecutive Committee. A l l r e s e r v e s sh ou ld be c a lc u la t e d in con form ity w ith the method p r e s c r ib e d by the C om ptroller o f the Currency, and d e p o s its shou ld be made not l a t e r than the day on which th e in cre a sed r e q u ir e ments become o p e ra tiv e * R e s p e c t f u lly , R . L . VAN EANDT, Governor This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER