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FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, December 23,1939 To the Nonmember Banks of the Eleventh Federal Reserve District: Following- a survey made by the Bank Management Commission of the American Bankers Association, wherein it was shown that a large majority of banks throughout the country favored raising the minimum of items subject to protest from $10.01 to $50.01, the Executive Council of the American Bankers Association, on September 25, 1939, at the annual con vention held in Seattle, adopted a resolution recommending the change. Each Federal Reserve bank was requested to conform its practice, be ginning January 2, 1940, to the new practice approved by the American Bankers Association. The Federal Reserve banks are adopting this prac tice, effective January 2, 1940, on and after which date all cash items will be received, handled, and forwarded subject to the following uniform instructions regarding protest: (1) DO NOT PROTEST items of $50.00 or less. (2) PROTEST dishonored items of $50.01 or over, except those bearing on their face the A.B.A. no protest symbol of the Fed eral Reserve bank or of a preceding bank endorser. These instructions will be shown on our cash letter forms and we ask that you please be guided by them when returning dishonored cash items to this bank. Yours very truly, R. R. GILBERT, President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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