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Circular No. 40

FEDERAL RESERVE BANK

Series of 1921

OF DA L LA S
Amending Circular N o. 31
Series of 1921

June 18, 1921.

TELEGRAPHIC TRANSACTIONS
TO THE MEMBER BANK ADDRESSED:
On May 11, in Circular No. 31, Series of 1921, we advised -member
banks of the over-crowded condition of the leased wire system of the FedĀ­
eral Reserve Banks, and of the desirability of limiting telegraphic transfers
to be made over our wires to amounts of $1,000 or over.
The last sentence in the first paragraph of that circular is hereby
revoked, and the Federal Reserve Bank of Dallas is prepared to accept and
transmit, at its expense, telegraphic transfers of amounts less than $1,000,
except that the privilege of ordering same may be withdrawn, without
notice, from any member bank which, through receipt of requests for an
unusual number of small transfers, is found to be abusing this privilege.
Yours very truly,

Governor.

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