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Federal reserve Ba n k O F D ALLAS Dallas, Texas, October 7,1946 To the Member and Nonmember Clearing Banks of the Eleventh Federal Reserve District: In our circular dated July 12, 1946, we advised that, according to infor mation received by us from the Federal Reserve Bank of St. Louis, certain banks in St. Louis, Missouri, had announced that they would not be open for business on Saturdays for the period July 13 to September 28, 1946, in clusive, except for limited transactions, principally the honoring of paper issued by themselves. In this connection, the Federal Reserve Bank of St. Louis has advised us that the following banks in St. Louis have now announced that they will continue this policy on Saturdays after September 28, in conformity with their previous notice: Boatmen’s National Bank First National Bank in St. Louis Mississippi Valley Trust Company Plaza Bank of St. Louis All cash items and most classes of noncash items drawn on or payable at such banks, received by the Federal Reserve Bank of St. Louis on Saturdays, will, therefore, not be presented until the following business day. No change will be made at this time in our present availability schedule regarding cash items payable at the banks referred to by reason of the Saturday closings. Due consideration should be given to the Saturday closing referred to with respect to transfers of funds to and from the above mentioned banks, and to the possibility that there may be a delay in the return of dishonored items and advices of the nonpayment of such items as a result of the Sat urday closings mentioned herein. 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)
