Full text of Mimeograph Letters and Statements of the Board : Statement for the Press Announcing Resignation of A. O. Stewart as Chairman and Federal Reserve Agent of Federal Reserve Bank of San Francisco, Number R-316, Volume 49, Page 129

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129
R-516

BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
For release in morning newspapers
of Saturday, October 1, 1938.

September 30, 1958.

FOR THE PRESS
The Board of Governors has accepted, effective as of October
1, 1938, the resignation of A. 0. Stewart as a Class C Director and
as Chairman of the Board and Federal Reserve Agent of the Federal
Reserve Bank of San Francisco.

In submitting his resignation to

Chairman Eccles, who transmitted it to the Board and recommended
approval, Mr. Stewart stated that by reason of an acquisition of
bank stock by dividend he was no longer technically qualified under
the law to continue to serve.