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F E D E R A L R E S E R V E BANK O F NEW YORK r Circular No. 3 6 9 1 T I April 18,1951 j Nomination and Election of Class B Director Term Ending December 31, 1952 (By member banks in Group 1 only, that is, member banks having capital and surplus of $10,000,000 or over) To Member Banks in the Second Federal Reserve District: In accordance with the provisions of se t o 4 of the Federal Reserve Act, a amended, and cin s Circular No. 3672, dated March 1 , 1951, i regard t e e t o of a d r c r of t i Bank f r the term o 6 n o lcin i e to hs o f o f c ending December 3 1 , 1 9 52 , t succeed L e w is H . B r o w n , formerly c a s B d r c o , there i given fie o ls ietr s on page 2 the name of the candidate nominated for such d r c o , indicating by whom nominated. ietr To each bank in Group 1 except banks a f l a e with holding company a f l a e which have desig , fiitd fiits nated another bank t participate i t i e e t o , the following are being sent with t i circular: o n hs lcin* hs ( ) Preferential b l o for use in voting for candidate for c a s B d r c o . a alt ls ietr ( ) Colored b l o envelope i which the b l o i t be s a e . b alt n alt s o eld ( ) C r i i a e envelope bearing on i s face the c r i i a e i regard t the v t . c etfct t etfct n o oe (d) Addressed envelope i which a l of the foregoing should be returned t me. n l o The b l o and c r i i a e on the c r i i a e envelope must be executed by an o f c r who has been alt etfct etfct fie authorized t c s the v t . A ls showing the o f c r designated for t i purpose by the r s e t v o at oe it fies hs epcie member banks i Group 1 was attached t the above mentioned c r u a dated March 1 , 1951, and a s m l r n o iclr 6 iia ls amended t April 1 , 1951, i given on page 3 of t i c r u a . In order that the b l o may be s c e , it o 7 s hs iclr alt ert the name of the bank and the name and t t e of the voting o f c r should not be written on the b l o , but il fie alt should be written only on the c r i i a e envelope. etfct ( ) After the p e rential b l o has been marked, 1 r fe alt ( ) I should be placed i the colored b l o envelope and that envelope s a e . 2 t n alt eld ( ) Then the sealed colored b l o envelope should be placed within the c r i i a e e velope, 3 alt etfct n and the c r i i a e envelope should be sealed and the c r i i a e thereon e ecuted. etfct etfct x ( Then the c r i i a e envelope containing the sealed colored b l o envelope should be 4) etfct alt returned t me in the enclosed addressed envelope. o The law provides that the b l o s a l be c s within 15 days a t r rec i of the ls of candi t s. alt hl at fe e pt it da e The p l s w l open on April 1 , 1951, and w l c o e at 12 o’ ol il 9 il ls clock noon, on Friday, May 4 1951, and i , n order t be counted as valid the b l o must be received by me a or before the l t e t m . Upon th o alt t atr ie e clo in of the p l s the b l o box w l be opened in the board room of t i Bank, the s l d envelopes s g ol alt il hs ea e containing the b l o s w l be opened, the votes counted and checked by t l e s and the r s l of the alt il elr eut e e t o announced. The candidate i invited t be present or represented on t i o c s o . lcin s o hs cain The banks in Groups 2 and 3 will not vote in this election, and this circular is sent to them, without forms for their information only. R obert T. S t e v e n s , Chairman of the Board. * As indicated in Circular No. 3672, dated March 16, 1951, section 4 o f the Federal Reserve Act, as amended, provides that whenever any two or more member banks within the same Federal reserve district are affiliated with the same holding company affiliate, participation by such member banks in the election o f directors o f Federal Reserve Banks shall be confined to one o f such banks, and the holding company affiliate may designate the bank to participate in such election. Consequently, the ballot o f any bank in Group 1 so affiliated cannot be counted as valid unless there is on file with me evidence that such bank has been so designated. Candidate for Class B Director CLARENCE FRANCIS, NEW Y O R K , N. Y . Chairman of the Board, General Foods Corporation, New York, N. Y. C la r e n c e F r a n c is was born i Port Richmond, Staten I l n , New York, i 1 8 . He was graduated n sad n 88 from Amherst College in 1910, and served on i s board of t u t e from 1944 through 1 5 . In 1950 he t rses 90 received the honorary degrees of Doctor of Commercial Science from New York University, and Doctor of Laws from Trinity C l e e Hartford, Connecticut. olg, He entered business with Corn Products Refining Company i 1 1 . In 19 9 he became na ional n 90 1, t s l s manager of the Cereal Division of the Ralston Purina Company, S . Louis, M ssouri. In 19 4 he ae t i 2, joined General Foods Corporation a domestic s l s manager of the Postum Company. S c e s v l , s ae ucsiey Mr. Francis was v c p e i e , d r c o , and president of Post Products Company, Inc.;and v c president i e r s d nt i e t r ie i charge of s l s executive v c p e i en , and president of General Foods Corporation. Since 1 n ae, ie rsd t 943, he has been chairman of the board of d r c o s of General Foods Corporation. ietr Mr. Francis i chairman of the C t ze s Advisory Committee on Armed Services Training I s a l s ii n ntla t o s He i a t u t e of the Committee f Economic Development; a member of the board of d r c o s in. s rse or ietr of the C t e s Committee for Reorganization of the Executive Branch of the Government;and a d r c o i iz n ietr of the Northern P c f c Railroad, Air Reduction Company, I c , Mead Corporation, and Mutual L fe aii n. i Insurance Company of New York. He has been a member of the Business Advisory Council of th United e States Department of Commerce. He i a d re s i ctor of the Chemical Bank & Trust Company, New York C t , but w l resign as such iy il i el c e a c a s B d r ct r of the Federal Reserve Bank of New York. f e t d ls ie o Nom inated by the follow ing member banks in Group 1 NEW YORK Place Buffalo New York City Bank or Trust Company The Marine Trust Company o f Buffalo Bank o f the Manhattan Company Bank o f New York and Fifth Avenue Bank Bankers Trust Company Central Hanover Bank and Trust Company The Chase National Bank o f the City o f New York Chemical Bank & Trust Company City Bank Farmers Trust Company The Commercial National Bank and Trust Company o f New York The First National Bank o f the City o f New York Guaranty Trust Company o f New York Irving Trust Company J. P. Morgan & Co. Incorporated The National City Bank o f New York The New York Trust Company The Public National Bank and Trust Company o f New York Rochester Lincoln Rochester Trust Company 2 1 9 5 1 E lection o f Class B D irector Term Ending December 31, 1952 List of 23 Member Banks in Group 1 Revised to April 17, 1951 Group 1 consists of member banks having capital and surplus of $10,000,000 or over N EW JERSEY Bank or Trust Company Place Newark Officers Authorized to Cast Vote Fidelity Union Trust C om p a n y ..................................... . President, or any Vice President NEW YORK Buffalo Manufacturers and Traders Trust Company Buffalo The Marine Trust Company o f Buffalo New York City Bank o f the Manhattan C o m p a n y ............................... . Honorary Chairman, Chairman, Vice Chairman, or President Bank o f New York and Fifth Avenue Bank . . President, any Vice President, or Treasurer . . . . President, any Vice President, or Secretary . . . President, or any Vice President Bankers Trust C om p a n y.................................................. . President, or any Vice President Central Hanover Bank and Trust Company . President, or any Vice President designated by the President The Chase National Bank o f the City o f New York . . Chairman o f the Board o f Directors, Presi dent, any Vice President, or Cashier Chemical Bank & Trust C o m p a n y ............................... . Chairman, President, or any Vice President City Bank Farmers Trust Com pany............................... . President, any Vice President, or Secretary The Commercial National Bank and Trust Company o f New Y o r k .............................................................. . Chairman o f the Board, Vice Chairman o f the Board, President, any Vice President, or Cashier Corn Exchange Bank Trust C om pan y......................... . Chairman, Vice Chairman, President, or any Vice President The First National Bank o f the City o f New York . President, any Vice President, or Cashier Guaranty Trust Company o f New York . . . . . . President, any Vice President, or Secretary Irving Trust C o m p a n y .................................................. . Chairman, or in his absence, the President Manufacturers Trust C o m p a n y ..................................... . Chairman o f the Board, Vice Chairman o f the Board, President, Chairman o f the Trust Committee, or any Vice President The Marine Midland Trust Company o f New York . . Chairman o f the Board, President, any Vice President, or Chairman o f the Executive Committee J. P. Morgan & Co. I n c o r p o r a t e d ............................... . President, any Vice President, or Cashier The New York Trust C om p a n y..................................... . President, or any Vice President The Public National Bank and Trust Company o f New Y o r k ..................................................................... . President, any Vice President, or Cashier United States Trust Company o f New York Rochester . President, or any Vice President The National City Bank o f New Y o r k ......................... . President, or any Vice President . Lincoln Rochester Trust C o m p a n y ............................... 3 . President, or any Vice President FEDERAL RESERVE BANK O F NEW YORK Preferential Ballot April 18, 1951 Group No. 1 This ballot and the certificate on the certificate envelope must be executed by an officer who has been authorized to cast the vote and whose appointment has been duly certified. The polls will open on April 19, 1951, and will close at 12 o ’clock noon on Friday, May 4, 1951. This ballot must be returned so as to reach me before the latter time. Failure to observe instructions will invalidate this ballot. R obert T. S t e v e n s , Chairman o f the Board. V O T E F O R CLASS B D IR E C T O R OF F E D E R A L R E S E R V E BAN K O F N E W Y ORK for term o f office ending December 31, 1952 C a n d id a t e C larence F rancis , New York, N. Y. Chairman of the Board. General Foods Corporation, New York, N. Y. (Indicate choice by X below) o D IR E C TIO N S F O R V O T IN G 1. Mark this preferential ballot to indicate choice. 2. Place preferential ballot so marked in the colored ballot envelope and seal that envelope. 3. Place sealed colored ballot envelope in certificate envelope and seal certificate envelope and execute certificate thereon. 4. Return sealed and executed certificate envelope (with sealed colored ballot envelope enclosed therein) in envelope addressed to Mr. Robert T. Stevens, Chairman, Board o f Directors, Federal Reserve Bank o f New York, Federal Reserve P. O. Station, New York 45, N. Y. BALLOT ENVELOPE E l e c t i o n o f C l a s s B D ir e c t o r of Federal Reserve Bank of New York The marked preferential ballot should be placed in this envelope, and this envelope should then be sealed and placed in the certificate envelope. C E R T IF IC A T E E N V E L O P E This Envelope Should Contain Only Ballot in Sealed Colored Envelope It W ill Not Be Opened U n til Polls Close G r o u p N o. 1 ................................................................................................................... ) 1951. (D a te ) To M b. R obert T. S teven s, Chairman of the Board, Federal Reserve Bank of New York. In accordance with s c i n 4 o the Federal Reserve Act, as amended, I hereby c r i y th eto f e t f at my c i e f a c a s B d re t r o the Federal Reserve Bank of New York for term o o f c ho c or l s i co f f fie ending December 3 , 1952, i a indicated thus (X) i the column of t b l o sealed h r i . 1 s s n he a l t een ’ or (N am e o f B ank) (Location o f Bank) ........................................................................................................................................ (S ig n a tu re o f officer designated to vote. See list o f m em ber banks in G rou p 1 in C ircu lar N o. 369 1) ( T I T L E o f V o tin g O fficer) M r . R o b e r t T . St e v e n s , Chairman, Board o f Directors, Federal Reserve Bank of New York, Federal Reserve P. 0 . Station, New York 45, N. Y.