Show I iS ll llA A S RESERVE V RANK AN OPENS rB Institution to Prove of Greatest Value to Members Members Mem Mem- bers hers Pre Prediction Banks Are to Operate Directly Through S. S L. L Branch By Ira ITa C. C Tichenor I CALI LAKES LAKE'S branch of or the SALT SALl 3 Twelfth th district federal c re re- servo o hank of San Francisco which formally and most auspiciously auspiciously opened its ih doors doors' for business busi busi- ness yesterday began beJan Its transactions with deposits of or Those deposits representing the re required required re- re quota of or deposits In those thoo mem mem- l her er of or tho ha Twelfth district which no now will operate directly through tho Salt SAIL It Lako Lake branch were transferred from tho ho main bank In San ian Francisco and now will remain In Salt Lake Tho The banks which now will op operate rato directly through the Salt Lake branch I Instead of ot through the thc main bank In Int t San an Francisco co as formerly ore all the national Institutions and anti such state tato banks hanks as ma may Join In Utah all alt such Euch 1 kinks banks In tho the thirty counties countIe of ot southern south ern om Idaho and of ot tho tou four counties of oC KIko Whito Pine Lincoln and Clark ClarkIn In h. Navada Tho The mane bone mono now TIOW deposited with the SnIt Lake Lako branch bratich represents 10 per percent cent of ot the demand deposits and 3 I perCent percent per percent cent of oC tho ilmo deposits of at Salt Lake hanks and Ami 7 1 per cent of ot tho the demand and 3 t per cent of at tho ho time deposits of ot bunks outside of or this city DEPOSITS TO INCREASE Acting Manager AnI W. W A. A DR Day stated lat evening c that the deposits with tho branch bronch l hank bank Will Increase us RS various atla sto to banks In tho Salt Lake Lako district become come members of or tho federal ys tem tern Ho lie stated that he waa wa greatly Greath pleased with tho manner In which tho the Salt SnIt laJ Lake branch bank camo came into ex ox- ox stence and reiterated his hid prediction that the Institution would provo prove of ot f Jn great preat at value to the bank members of or tho the system 1 in tho the new and of or benefit to this entire territory as well we Under dale dato of oC March farch 27 1 James I K Lynch governor o of ot the federal reserve bank of or San Francisco sent out th the following circular to member antI ind clearing member banks of oC th the tho Sun San Francisco bank anent anen tho the opening of ot tho SnIt Salt Lake Lako branch A d branch bronch of at this bank to be known knon fus NI 3 Salt Lako Lake City branch of ot federal reserve r bank of oC San Francisco has beer been organized for tor tho territory In whIch those tholo member banks are aro located which aro are listed tl on tho the reverse rovere side of ot this circular and will bo opened for tor business on April 1 1918 The Tho American association a number Is 31 U Tho names of oC directors and officers of or this branch will be bo announced later On and after attel the data of at opening accounts account of or all member h banks Is nd I cl clearing h m member 1 mb r I 1 banks hanks now nosy I.- I. car- car t v u S U III UI U LI flail tan southern call eastern tern Nevada c adl will bo be carried at the thc Salt Lake Lako City branch INSTRUCTIONS GIVEN At tho the close of or business March larch 30 this bank hank will transfer to Salt Lake Lako City CH- branch tile the amounts of or member r banks bank on un its books Items t outstanding in tho thu malls mails at he the time of Jr opening will b If charged fed to member r banks through Suit Stilt Lake L' City Olty lt branch After ter transfers have llac been com corn all credit lc aI advices reconcile reconcile- menus ments of ot accounts account and weekly repot reports of ot reserve condition must b bo be forwarded to tho Suit Salt Lake CH City branch of ot member banks bank affiliated with Ith Salt lIt Lako Lake City branch should be Issued their accounts account at t Salt alt I Lake e Cit City such drafts dmn will bo be received cd II by ly tho the San n Francisco Seattle po- po kane and Portland offices for tor Immedi ate Atc credit and Availability A at par por sub sub- JoeL jCL l. l Ui to final I payment nt reference rc to our circular GJ Is h suggested In this ton tion lon ChO Chocks Checks d deposited un under 1 terms tt of ot our collection circulars ma may b be forwarded for for- or- or warded h by n tny member or clearing member i bank in 1 this thin district to either Portland Seattle Seattie Spokane Salt It Lako Lake City CJU or Sn Francisco co office n us It In may find convenient cOn provided Pro that uniform collection forms are uro ul used med d for Ml 11 cath letter oth other than those for for- warded direct to the office of oC tills bank with tho depositing bank Is 18 af at- at Sample of ot these the form forums will IM bf found enclosed with whim circular No 0 90 O. O An amended ot of deferred availability avail avail- ability IK Ig enclosed and I IH is to be bo for tor tho one one- now how in tn circular 30 0 nut from rum which depositing b banks mR may determine to which office items can be he forwarded lor to best bent d advantage l It In is that depositing bank use Ulle routing facilities fn for tor their I largo large o Items Horn only nl sod Hud that small Items bo he forwarded to o the lit office with which I audi hank are arc affiliated l are l' l not to forward tot out of or town items to tn Salt SaiL It Lake Lako CIt City branch until ut utter April I t 6 t. t |