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F E D E R A L R E SE R V E BANK O F NEW YORK f Circular No. 4 4 5 31 I April 25, 1957 J “Daylight Saving Time” To all Banks and Trust Companies in the Second Federal R eserve D istrict and Others C on cern ed : U nder the law o f the State o f New Y ork, the standard time in effect in the State is advanced one hour during the period between the last Sunday in A p ril and the last Sunday in O ctober o f each year. A ccordingly, the H ead Office and the B uffalo Branch o f this Bank will operate on the time so advanced— “ D aylight Saving T im e” — between A p ril 28 and O ctober 27, 1957; and, until further notice, be tween the last Sunday in A p ril and the last Sunday in O ctober o f each succeeding year. A lfred H ayes, President. F ederal R eserve NEW Ban k YORK RECTOR 45, of N ew Yo rk N.Y. 2-5700 April 25, 1957 To Member and Nonmember Clearing Banks in the Second Federal Reserve District: The suspension of pickup and delivery service of the Railway Express Agency has been extended to the New York City area and as a result, effective last night and until further notice, all of our air shipments of checks to other Federal Reserve Banks and Branches will be forwarded by Air Parcel Post. Special arrangements have been made for the dispatch of such interdistrict shipments of checks, and deferred credit availability therefor will be given in accordance with our regular time schedules, with the understanding that in the event of poor on-time performance at any of the one-day points it may be necessary to change credit availability to a two-day deferred basis, (if it becomes necessary to give credit on a two-day, rather than a one-day, deferred basis, we shall so notify you as promptly as possible.) This situation may result in delays in the presentment of cash items, and in the return of unpaid items, and, accordingly, we reserve the right to charge back any such unpaid items at any time. This supersedes my letter dated April 22, relating to the suspension in certain areas of service by the Railway Express Agency. ALFRED HAYES, President. yys-3 F E D E R A L R E S E R V E BANK OF NEW YORK A p ril 26, 1957. To A ll Banking Institutions in the Second Federal R eserve D istrict: W e are pleased to announce that S ta te B ank of L ong B each , L on g Beach, New Y ork, which officially opened its doors fo r business today, has been admitted to membership in the F ederal Reserve System. The capital o f the bank is $650,000, and its surplus, $550,000. Officers o f the bank a r e : F ran k W . B r e itb a c h President M o r r is A. Vice President V ogel W a lte r W . F ry Cashier M ic h a e l K o se s Secretary B ern ard H. General Counsel R f.ic h The A .B .A . transit number and check routing symbol o f the State Bank o f L ong Beach is . 214 A lfred H ayes, President.
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