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IRANSFER
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W i/ J




FED ER AL RESERVE B A N K O F S T. LO U IS
S t . L o u is 2 t M is s o u r i

July 15, 1949

To A ll Member B anks in the
Eighth Federal Reserve D istrict:

In our letter of M ay 6 you were informed th a t, under the provisions of a
recently enacted law, nearly all banks in Minneapolis, St. Paul, and D uluth
would remain closed on Saturdays, b u t th at the Federal Reserve Bank of
Minneapolis would remain open on Saturdays for the conduct of essential
banking functions.
We have now been informed th a t the Federal Reserve Bank of Minne*
apolis will also be closed on Saturdays commencing on S aturday, July 16,
1949. I t will, however, handle deferred credit items on Saturdays.

C H E ST E R C. DAVIS
President

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