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F e d e r a l R e s e r v e B a n k o f S t . L o u is
P. O. B o x 4 4 2
S t. Lo u is

6 6 , Misso uri

December 11, 1959

To Member Banks in the St. Louis,
L ittle Rock and Memphis Z o n es of the
Eighth Federal Reserve D istrict:
The St. L ouis, L ittle Rock and Memphis o ffices of this bank will be
closed for all a c tiv itie s on Saturday, December 26, 1959. Accordingly,
on that day th e se offices will not conduct the usual Saturday check c o lle c ­
tion operation (process and dispatch deferred credit items and make con­
solidated shipm ents of c a s h le tte rs to other F ederal R eserve banks and
branches).
Member banks located in the zo n es served by the St. L ouis, L ittle Rock
and Memphis offices may treat Saturday, December 26 as a b u sin e ss day
in calcu latin g the availability of c a sh le tte r s co n sistin g of deferred credit
cash items, which the offices named receive and handle on December 24.
Member banks which have been authorized to send cash le tte rs direct
to other Federal R eserve banks and branches may also count December 26
as a b u s in e s s day in calcu la tin g the av aila b ility of cash le tte rs forwarded
on December 24.
Direct sending member banks, which operate their check collection
departm ents on December 26 may d isp atch cash le tte rs directly to other
Federal R eserve banks and branches and c a lc u la te the availability of
such cash le tte rs from December 26.

DELOS C. JOHNS
P re s id e n t

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