1937 - Complete Issue (53.5M) - Fraser - Federal Reserve Bank of ...

C on feren ce re weakening o f p a r c o l l e c t i o n sy s
t*n b eca u se o f c o m p e titiv e advantages o v e r
manber banks and s u g g e s tin g p r o h i b i t i o n on ^
c o l l e c t i o n ch arges 2 /1 8 3 %
Commodity d r a ft s , treatm ent in c o n d it io n r e p o r t s o f C it y S t a t e
Bank and T ru st C o ., M cA llen , T exas 7 /1 4 9 5$
D rafts f o r purchase o f com m odities, w hich a r e n o t p a y a b le immed
ia t e ly upon p r e s e n t a t io n , r e p ly t o D eputy
C om p troller th a t th e y sh ou ld b e re g a rd e d a s
lo a n s and n ot cash item s in p r o c e s s o f c o l l e c ­
t io n in r e p o r ts and r e s e r v e com p u ta tion s 1 /2 7 174
Government ch ecks, re p ly t o S en a tor Thomas r e s u g g e s tio n o f
nonmember banks in Oklahoma th a t a s th e y a re
req u ired t o cash at p a r , FRBanks a b sorb c o s t
o f cu rren cy shipm ents in v o lv e d 3 /1 9 440
I n t e r d ls t r ic t tim e sch e d u le s:
S t. L ou is to N a s h v ille , change in tim e approved 1 0 / 6 1370
K itin g o p e r a tio n s , FRBank o f M in n e a p o lis a u th o r iz e d t o c o o p e r a t e
w ith C o m p tro lle r, F .D .I .C . and R .F .C . i n makin
g a v a ila b le any in fo r m a tio n r e v i o l a t i o n s 7 / 1 916
Matured bonds and coupons, New York C ity member banks u n d er
p lan o f c le a r a n c e fo llo w e d , may c o n s id e r as
cash item s in p r o c e s s o f c o l l e c t i o n and d ed u ct
from g r o s s demand d e p o s it s in com puting r e ­
quired r e s e r v e s 8 / 5 1110
Non-cash c o l l e c t i o n s , no charge f o r h a n d lin g by FRBanks (w ith
e x ce p tio n o f FRBanks o f New York and B oston
th a t charge f o r d r a ft s w ith s e c u r i t i e s a t ta c h e d
which are not p r o p e r ty o f member b a n k s ), dec
is io n o f P r e s id e n ts ' C on feren ce 1 0 /1 9 1403
Par cle a ra n ce, accep tan ce by banks o f own ch eck 6 at p a r , r e p ly
t o F ir s t N a tion a l Bank, T ra cy C it y , T e n n .,
su g g estin g th a t Board and F .D .I .C . r e q u ir e 3 / 5 371
Par c o lle c t i o n system , statem ent o f P r e s id e n t s ' C o n fe re n ce r e
weakening o f , due t o c o m p e titiv e in e q u a lit y
between member and nonmanber banks, s u g g e s t in g
p r o h ib it io n o f c o l l e c t i o n ch a rges by n on -
i r e p ly to President Harrison 322
" ' to L ou isiana Bankers A s s o c ia t io n th a t Board
b e lie v e s co o p e ra tiv e o r g a n iz a t io n s sh ou ld be
encouraged, but Board cannot in d o r s e s p e c i f i c
programs e /o n 759
C leveland M i l l i e . : (See In dian a U n iv e r s ity ) ^
Cochran, Congressman John J . : m v e r s in y ;
Digitized for FRASER
Federal Reserve Bank of St. Louis
Economy Act o f r e p ly re e f f e c t Board has g iv e n
m arried p e rson s whose husbands
o r W iv e s are em ployed by Government