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F ederal reserve Ban k OF DALLAS Dallas, Texas, September 8,1966 WIRE ADVICE OF NONPAYMENT OF CASH ITEMS To All Par Remitting Banks in the Head Office Territory of the Eleventh Federal Reserve District: Primarily as a result of the increasing volume of checks handled at this office, the number of unpaid items being returned has shown a significant increase. A comparison of returned items processed during the second quarter of this year compared to the same period last year indicated a 22 percent increase. The number of items of $1,000 or over requiring advice of nonpayment has increased in even greater proportion. Although this bank’s Bulletin No. 8 requires that the advice of nonpayment be sent by wire, we have accepted advices by telephone. However, the number o f these telephone calls has increased to the extent that they are causing a disruption of the work flow of our check operation. Accordingly, we solicit your cooperation in furnishing the advices of nonpayment by telegraph. Complete instructions concerning wire advice of nonpayment are incorporated in Bulletin No. 8. Briefly, however, wire advices of nonpayment of items of $1,000 or over should include the amount of the item, the reason for nonpayment, the date of our cash letter in which the item was listed, and the A.B.A. transit numbers or the names of the two endorsers immediately preceding this bank and the dates of their endorsements. Wire advices of nonpayment should be furnished in a form similar to that which is used in the following specimen: Returning 1,513.24 insufficient funds yours 18th endorsed 37-2 17th and 88-4185 16th In unusual cases involving items of substantial amounts, it is satisfactory to notify us of nonpayment by telephone. A direct telephone line, which bypasses the bank’s switchboard, has been installed in the Transit Department. The number of this direct line is : Area Code 214 R I 2-4060 Please use this number only for notices of the return of unpaid items in unusual cases. Other Transit matters which are sufficiently important to require a telephone call should be placed to RI 2-3271. Yours very truly, Watrous H. Irons 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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