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FEDERAL RESERVE BANK
OF NEW YORK

Circular No. 1 8 8 4 , October 1, 1938.
Superseding Circular No. 1499, January 16, 1935.

Buffalo Branch Time Schedule

To Member and Nonmember Clearing Banks in the
Territory assigned to the Buffalo Branch:

This circular contains our Buffalo Branch Time Schedule. It applies only to member
and nonmember clearing banks in the territory assigned to our Buffalo branch (i. e., the
counties of Allegany, Cattaraugus, Chautauqua, Erie, Genesee, Livingston, Monroe,
Niagara, Orleans, and Wyoming, in the State of New York). Our New York Head Office
Time Schedule applies to member and nonmember clearing banks in the territory assigned
to our head office at New York City.
As heretofore, cash items sent to us by member and nonmember clearing banks in
the territory assigned to our Buffalo branch should be sent to our Buffalo branch, except
that such banks may at their option send cash items payable in the territory assigned to
our head office at New York City either to such head office or to our Buffalo branch.
Subject to the terms and conditions of this time schedule, and of Eegulation J of
the Board of Governors of the Federal Reserve System, and of our circular relating to
collection of cash items, we will give credit in member bank reserve accounts and nonmember clearing bank clearing accounts at the times indicated herein for cash items
received and accepted by us and for cash items payable in other Federal Reserve Districts
which are sent by our member and nonmember clearing banks with our permission direct
to Federal Reserve Banks of such other districts for our account. This time schedule does
not necessarily show the actual time required for collection of cash items, and advices
received from us showing the availability of items cannot be considered as advices of
actual payment on the dates of availability. Credit will in all instances be subject to
receipt of payment by us in actually and finally collected funds, and we may in our discretion refuse at any time to permit the withdrawal or other use of credit given for any item
for which we have not yet received payment in actually and finally collected funds.
We reserve the right at any time, with or without notice, to revoke, modify, amend, or
add to, this time schedule or any provision thereof, effective as to all or any particular
member banks and nonmember clearing banks.




GEORGE L. HARRISON,

President.

FEDERAL RESERVE BANK OF NEW YORK
(Buffalo Branch)
SCHEDULE ON THIS PAGE SHOWS W H E N CREDIT WILL B E GIVEN FOR CASH ITEMS RECEIVED
AND ACCEPTED AT BUFFALO BRANCH OF FEDERAL RESERVE
BANK OF NEW YORK IN BUFFALO, N. Y.
f IMMEDIATE CREDIT
Districts
When received by 9 a. m. (8:30 a. m. Saturdays)—items payable in Buffalo
No.
No.
When received by 3 p. m. (Saturdays 12 noon)
7
1 Chicago
Boston
Checks and warrants on Treasurer of the United States, Washington, D. C. New York 2 St. Louis
3
9
Checks on Federal Reserve Bank of New York and Buffalo Branch
Philadelphia 3 Minneapolis
4 Kansas City, Mo. 10
Cleveland
Officers' checks of other Federal Reserve Banks
5
11
Richmond 6 Dallas
Federal Reserve Exchange Drafts
12
Atlanta
San Francisco
Federal Reserve Cities and Federal Reserve Branch Cities
in this column

Localities outside of Federal Reserve Cities and Federal Reserve
Branch Cities in this column

M

fOne Calendar Day After Receipt —Items payable in
New York City—drawn on or payable at
CLOSING TIME FOR DEFERRED CREDIT ITEMS
r.-->. ~ L_-I.. fNew York Clearing House Association banks
<
Payable in Second District
referred to will J Other New York Citynd Brooklyn banks
a
2:30 p. m. Saturdays 12 noon
be furnished j Northern New Jersey Clearing House AssociaItems $500 and over 3:30 p. m. Saturdays 12 noon
3
Philadelphia
District
4
Cleveland
District
Payable in other Federal Reserve Districts
4
12 :30 p. m. Saturdays 12 noon
Pittsburgh
Branch of
7
Chicago
District
7
Detroit
Branch of
fTwo Calendar Days After Receipt—Items payable in fTwo Business Days After Receipt— Items payable in
New York City—other than items mentioned
**New Jersey
No.
above
'New York
Boston
District
4
Cincinnati
Branch of
5
Baltimore
Branch of
5
Charlotte
Branch of
5
Richmond
District
6
Atlanta
District
6
Birmingham
Branch of
6
Nashville
Branch of
8
Little Rock
Branch of
8
Louisville
Branch of
8
Memphis
Branch of
8
St. Louis
District
9
Minneapolis
District
9
St. Paul
In District
10
Kansas City, Mo.
District
Kansas City, Kans.
In District 10
10
Omaha
Branch of
t Three Calendar Days After Receipt—Items payable in fThree Business Days After Receipt-—Items payable in
Connecticut
Maine
'Ohio
No.
Delaware
'Maryland
'Pennsylvania
New Orleans
Branch of
6
6
'Illinois
'Massachusetts
Rhode Island
Jacksonville
Branch of
Indiana
'Michigan
Vermont
Denver
Branch of 10
10
Iowa
New Hampshire
Oklahoma City
Branch of
11
Dallas
District
11
Houston
Branch of
San Antonio
Branch of 11
fFour Calendar Days After Receipt—Items payable in 1'Four Business Days After Receipt— Items payable in
No.
Dist. of Columbia 'Kentucky
•Virginia
9
•Georgia
'Minnesota
Wisconsin
Helena
Branch of
11
•Kansas
*Missouri
West Virginia
El Paso
Branch of
12
Seattle
Branch of
Salt Lake City
Branch of 12
12
Portland, Ore.
Branch of
12
San Francisco
District
Los Angeles
Branch of 12
fFive Business Days After Receipt—Items payable in
•Alabama
Mississippi
'Oklahoma
•Arkansas
'Nebraska
South Carolina
•Florida
'North Carolina •Tennessee
fSix Business Days After Receipt—Items payable in
'California
North Dakota
'Utah
'Colorado
'Oregon
•Washington
•Louisiana
South Dakota
Wyoming
'Montana
'Texas
fSeven Business Days After Receipt—Items payable in
Arizona
Idaho
New Mexico
Nevada
t When received by closing time as herein indicated for such items—otherwise credit deferred for one additional day. When the day on
which credit would otherwise be given is a Sunday or legal holiday in New York State credit will be given on the following business day.
oliday
* Except items payable in cities listed in left hand column.
Except items drawn on or payable at Northern New Jersey Clearing House
Association banks.



2

CREDIT FOR CASH ITEMS S E N T DIRECT TO HEAD OFFICE OF FEDERAL RESERVE B A N K OF
N E W YORK AT N E W YORK CITY

Cash items payable in that portion of the Second Federal Reserve District which is assigned
to the head office of Federal Reserve Bank of New York at New York City may be sent direct to
the head office instead of to the Buffalo branch. Credit for such cash items received at the head
office at New York City will be given as indicated below:
received before 9 a.m.
Items drawn on or payable at
New York Clearing House Association banks
] Lists of banks
Other New York City and Brooklyn banks
Ybtu^ilLT1
Northern New Jersey Clearing House Association banks J *P»n request.

IMMEDIATE CREDIT—when

ONE DAY AFTER RECEIPT—when received before 9 a.m.

Items payable in New York City other than those mentioned above.
Two BUSINESS DAYS AFTER RECEIPT—when received before 2:30 p.m., Saturdays 1 p.m.
*** Items (other than those payable in New York City) payable in that portion of the Second Federal Reserve District which is assigned to the head office of the Federal Reserve
Bank of New York at New York City.
When cash items are received after closing time, as indicated above, credit therefor will
be deferred one additional day. When the day on which credit would otherwise be given is a
Sunday or legal holiday in New York State credit will be given on the following business day.

CREDIT FOR CASH ITEMS S E N T DDUECT TO OTHER FEDERAL RESERVE B A N K S

Member and nomnember clearing banks, which have received permission to send cash items
payable in other districts direct to other Federal Reserve Banks for account of Federal Reserve
Bank of New York, will be given credit for items so sent after the same number of days from
the mailing thereof as credit is deferred for similar items after receipt thereof by Federal
Reserve Bank of New York at its Buffalo branch; provided, however, that Federal Reserve Bank
of New York may, by giving notice to such effect to any member or nonmember clearing bank,
prescribe an hour before which all items or certain items must be mailed by such bank in order
to obtain such credit and may defer credit an additional day for items mailed by such bank
after such hour.
PREPARATION OF CASH LETTERS
SORTING

Member banks and nonmember clearing banks are requested to sort cash items which they
send to the Buffalo branch of Federal Reserve Bank of New York into classes according to the
number of days for which credit will be deferred for such items, with a separate letter or total
for each class.
In order that credit may be deferred on a calendar day basis instead of on a business day
basis for items which are payable in Federal Reserve cities and Federal Reserve branch cities
and are included in the two, three, and four day deferred credit classes, such items should be
sorted separately from the other items in the respective classes. If this is not done, credit for
all items in these classes, including items payable in Federal Reserve cities and Federal Reserve
branch cities, will be deferred on a business day basis.
Credit for cash items not sorted in accordance with instructions may be deferred for the
longest time for which credit would be deferred for any of such items if properly sorted.
All cash items should be described on cash letters by inserting the name of the bank and
city or town at which they are payable, or by inserting the American Bankers Association transit number of such bank.
••* The portions of the Second Federal Eeserve District assigned to the head office of the Federal Reserve
Bank of New York at New York City are as follows:
New York—All except counties of Allegany, Cattaraugus, Chautauqua, Erie, Genesee, Livingston, Monroe, Niagara, Orleans, and Wyoming, which are assigned to the Buffalo branch.
New Jersey—Counties of Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmonth, Morris, Passaic,
Somerset, Sussex, Union, and Warren.
Connecticut—County of Fairfield.
3



MAIL ADDRESS

All mail for the Buffalo branch should be addressed:
FEDERAL RESERVE BANK,

270-276 Main Street,
Buffalo, N. Y.
All mail for the head office at New York City should be addressed:
FEDERAL RESERVE BANK OF NEW YORK,

Federal Reserve Station, P. 0 .
New York City, N. Y.

ENDORSEMENTS
For the information of sending banks in connection with the preparation of cash letters the
following paragraph relative to endorsements is quoted from the circular of Federal Reserve
Bank of New York relating to collection of cash items :
"All cash items sent to us, or to another Federal Reserve Bank direct for our account, should
be endorsed without restriction to the order of the Federal Eeserve Bank to which sent, or to the
order of any bank, banker or trust company, or with some similar endorsement. Cash items will
be accepted by us, and by other Federal Eeserve Banks, only upon the understanding and condition
that all prior endorsements are guaranteed by the sending bank. There should be incorporated in
the endorsement of the sending bank the phrase ' All prior endorsements guaranteed.' The act of
sending or delivering a cash item to us or to another Federal Reserve Bank will, however, be
deemed and understood to constitute a guaranty of all prior endorsements on such items, whether
or not an express guaranty is incorporated in the sending bank's endorsement. The endorsement
of the sending bank should be dated and should show the American Bankers Association transit
number of the sending bank in prominent type on both sides."




FEDERAL RESERVE BANK
OF N E W YORK

October 1, 1938,

To Member and Nonmember Clearing Banks in the
Territory assigned to the Buffalo Branch:
We transmit to you herewith a copy of our circular No. 1884, dated
October 1, 1938, containing our Buffalo branch time schedule as amended effective on that date, superseding circular No. 1499, dated January 16, 1935,
and the time schedule therein contained.
The occasion for issuing the enclosed new circular and time schedule
is that the Federal Reserve Bank of San Francisco disestablished its Spokane
Branch at the close of business September 30, 1938, and that tho banks in the
city of Spokane, which comprised the territory of the Spokane Branch, are now
in the territory assigned to the Seattle Branch of the Federal Keserve Bank of
San Francisco.
Accordingly, on the time schedule transmitted herewith dated
and effective October 1, 1938, Spokane has been, eliminated from the list of
cities included in the bracket headed "Four Calendar Days After Receipt", and
cash items payable in Spokane, Washington, are now included among those for
which credit will be given six business days after receipt, subject to the
terms and conditions of our time schedules and of Regulation J of the Board of
Governors of the Federal Reserve System and of our circulars relating to the
collection of cash items*
We were also advised by the Federal Reserve Bank of San Francisco
that, effective October 1, 1938, the counties of Asotin, Columbia, Garfield and
Walla Walla in the State of Washington and all that part of the State of Idaho
(namely, the ccuntiss of Benewah, Bonner, Boundary, Clearrater, Idaho, Kootenai,
Latah, Lewis, Nez Peroe and Shoshone) in the Seattle Branch zone would be
transferred from the Seattle Branch zone to the Portland Branch zone, and that
the banks in that territory would thereafter be in the territory assigned to
the Portland Branch of the Federal Reserve Bank of San Francisco.




George L. Harrison,
President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102