The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL R ESERVE B A N K OF D A LL A S D A L L A S 13, T E X A S June 14, 1949 To the Member and Nonmember Clearing Banks of the Eleventh Federal Reserve District: We are informed by the Federal Reserve Bank of San Fran cisco that under the provisions of a statute recently enacted by the Utah State Legislature, a majority of the banks in Salt Lake City and some banks in other parts of the State of Utah will remain closed on Saturdays during the months of June, July, August, and September, 1949. We are further informed that the Salt Lake City Branch of the Federal Reserve Bank of San Francisco, however, will conduct essential banking functions on such Saturdays, includ ing the acceptance of telegraphic transfers, but, as there will be no clearing exchange on Saturdays, checks drawn on com mercial banks in Salt Lake City will not be presented on Saturday. Attention is called to the possibility of there being a delay in the return of dishonored cash items and in the receipt of advice of the nonpayment of such items. 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)