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Strategies & Market Trends : Player's Club Speculative Futures
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To: GROUND ZERO™ who wrote (112)2/2/2000 7:33:00 PM
From: Bull RidaH  Read Replies (5) of 185
 
Paul,

Looks like we're whistling on the launching pad for 12 days starting tomorrow. Federal bank regulations require funds from personal checks written from accounts not within the bank's district be held for 11 days from the date of deposit. Asking the partners who sent personal checks to replace them with cashiers checks would be expensive and troublesome for each partner, so we'll just wait it out. Chip signed the bank documents today and overnighted them to me, so I should be able to get the checking account open tomorrow so we can deposit the checks.

In the meantime, we'll complete the brokerage account and partnership documents and send them to the broker. It should take several days for these documents to be reviewed and processed, and a brokerage account # created and issued.

We'll be using Carolina First/Anchor Bank (in process of merging)for the partnership checking account, and Jack Carl Futures as our primary brokerage. An updated timetable will follow.

Regards,

David
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