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F E D E R A L R E SE R V E BANK
O F NEW YORK
rCircular N o. 3 9 1 1 1
L October 29, 1952 J

Nomination and Election of Directors
(By member banks in Group 1 only, that is, member banks having capital and
surplus o f $10,000,000 or over)

To Member Banks in the Second Federal Reserve D istrict:

In accordance with the provisions o f section 4 o f the Federal Reserve A ct, as amended, and
Circular No. 3900, dated September 25, 1952, in regard to election o f directors o f this Bank fo r terms o f
office from January 1, 1953, to December 31, 1955, to succeed J o h n C . T r a p h a g e n , class A director, and
C l a r e n c e F r a n c is , class B director, whose terms expire December 31, 1952J there are shown on pages
2 and 3 the names o f the candidates nominated fo r such directors, and by whom nominated.
T o each bank in Group 1, except banks affiliated with holding com pany affiliates which have desig­
nated another bank to participate in this election,* the follow in g are being sent with this circu la r:
(a ) Preferential ballot fo r use in voting fo r candidates fo r class A director and class B director.
(b ) Colored ballot envelope in which the ballot is to be sealed.
(c ) Certificate envelope bearing on its face the certificate in regard to the vote.
(d ) Addressed envelope in which all o f the foregoing should be returned to me.
The ballot and certificate on the certificate envelope must be executed b y an officer who has been
authorized to cast the vote. A list showing the officers designated fo r this purpose by the respective
member banks in Group 1 was attached to the above mentioned circular dated September 25, 1952, and a
similar list amended to October 27, 1952, is given on page 4 o f this circular. In order that the ballot may
be secret, the name o f the bank and the name and title o f the voting officer should not be written on the
ballot, but should be written on ly on the certificate envelope.
(1 ) A fte r the preferential ballot has been marked,
(2 ) I t should be placed in the colored ballot envelope and that envelope sealed.
(3 ) Then the sealed colored ballot envelope should be placed within the certificate envelope,
and the certificate envelope should be sealed and the certificate thereon executed.
(4 ) Then the certificate envelope containing the sealed colored ballot envelope should be
returned to me in the enclosed addressed envelope.
The law provides that the ballot shall be cast within 15 days after receipt o f the list o f candidates
transmitted herewith. The polls will open on October 30, 1952, and will close at 12 o ’clock noon, on Friday,
November 14, 1952, and in order to be counted as valid the ballot must be received b y me at or before
the latter time. U pon the closing o f the polls the ballot box will be opened in the board room o f this Bank,
the sealed envelopes containing the ballots will be opened, the votes counted and checked b y tellers, and the
results o f the election announced. The candidates are invited to be present or represented on this occasion.
Because banks in Groups 2 and 3 will not vote in this election, this circular is sent to them without
form s fo r their inform ation only.
R obert

T. S t e v e n s ,
Chairman of the Board.

*
As indicated in Circular No. 3900, dated September 25, 1952, 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 A Director
W . R AN D O LPH BURGESS, N E W Y O R K , N. Y .
Chairman o f the E xecutive Committee, The National C ity Bank o f New Y ork, New Y ork, N. Y .
W . R a n d o l p h B u r g e s s was born in Newport, R. I., on M ay 7, 1889.

He was graduated from Brown

U niversity in 1912, and follow in g W orld W a r I, received the degree o f D octor o f Philosophy from Columbia
University.

In 1948, he was appointed chairman o f the executive committee o f The National C ity Bank o f

New Y ork, and chairman o f the board o f directors o f the C ity Bank Farm ers Trust Company.
the National C ity Bank in 1938 in the capacity o f vice chairman o f the board o f directors.

H e join ed

Earlier, Mr.

Burgess was Assistant Federal Reserve A gent and then D eputy Governor o f the Federal Reserve Bank o f
New Y o rk ; he also served as executive officer o f the Reserve System ’s Federal O pen Market Committee.
D uring the years 1947-1949, he was a member o f the Federal A dvisory Council representing the Second
Federal Reserve District.
Mr. Burgess is a trustee o f the Mutual L ife Insurance Company o f New Y o r k ; a director o f the
International Telephone and Telegraph Corporation, the Discount Corporation o f New Y ork, the Inter­
national Banking Corporation, and the Union Pacific Railroad C om pan y; and a member o f the local boards
o f the R oyal Liverpool Group o f Insurance Companies.

Mr. Burgess is now president o f the Association

o f Reserve C ity Bankers, and is a form er president o f the Am erican Bankers Association and the New Y ork
State Bankers Association.




Nominated by the following member banks in Group 1
NEW YORK
Place

Name o f Bank or Trust Company

Albany

State Bank o f Albany

Buffalo

The Marine Trust Company o f Western New York

New York City

Bank o f the Manhattan Company
The Bank o f New York
Bankers Trust Company
The Chase National Bank o f the City o f New York
Chemical Bank & Trust Company
City Bank Farmers Trust Company
Corn Exchange Bank Trust Company
The First National Bank o f the City o f New York
Guaranty Trust Company o f New York
The Hanover Bank
Irving Trust Company
Manufacturers Trust Company
J. P. Morgan & Co. Incorporated
The National City Bank o f New York
The Public National Bank and Trust Company o f New York

2

Candidate for Class B Director
CLARENCE FRANCIS, N E W Y O R K , N. Y .
Chairman o f the Board, General Foods Corporation, New Y ork, N. Y .
C l a r e n c e F r a n c is was born in P ort Richmond, Staten Island, New Y ork, in 1888.

He was graduated

from Am herst College in 1910, and served on its board o f trustees from 1944 through 1950.

In 1950 he

received the honorary degrees o f D octor o f Commercial Science from New Y ork University, and D octor o f
Laws from Trinity College, H artford, Connecticut.
He entered business with Corn Products Refining Company in 1910.

In 1919, he became national

sales manager o f the Cereal Division o f the Ralston Purina Company, St. Louis, Missouri.
join ed General Foods Corporation as domestic sales manager o f the Postum Company.

In 1924, he

Successively, Mr.

F rancis was vice president, director, and president o f Post Products Company, I n c .; and vice president in
charge o f sales, executive vice president, and president o f General F oods Corporation.

Since 1943, he has

been chairman o f the board o f directors o f General Foods Corporation.
Mr. Francis is a trustee o f the Committee fo r E conom ic Development and o f the Mutual L ife
Insurance Company o f New Y o r k ; and a director o f the Northern Pacific Railroad, A ir Reduction Company,
Inc., and Mead Corporation.

He has been a director o f the Chemical Bank & Trust Company, New Y ork

City, and a member o f the Business A dvisory Council o f the United States Department o f Commerce.
He has been serving as a class B director o f the Federal Reserve Bank o f New Y ork since M ay 1951.

Nominated by the following member banks in Group 1




N EW YORK
Place

Name o f Bank or Trust Company

Albany

State Bank o f Albany

Buffalo

The Marine Trust Company o f Western New York

New York City

Bank o f the Manhattan Company
The Bank o f New York
Bankers Trust Company
The Chase National Bank o f the City o f New York
Chemical Bank & Trust Company
City Bank Farmers Trust Company
Corn Exchange Bank Trust Company
The First National Bank o f the City o f New York
Guaranty Trust Company o f New York
The Hanover Bank
Irving Trust Company
Manufacturers Trust Company
J. P. Morgan & Co. Incorporated
The National City Bank o f New York
The Public National Bank and Trust Company o f New York

3

1952 Election of Directors

List of 2 5 Member Banks in Group 1
Revised to October 27, 1952

Group 1 consists of member banks having capital and surplus of $10,000,000 or over
N E W JE RSEY

Place
Newark

Name o f Bank or Trust Company

Officers Authorized to Cast Vote

Fidelity Union Trust C o m p a n y .....................................

. President, or any Vice President

The National Newark and Essex Banking Company o f
N e w a r k .............................................................................. President, any Vice President, or Cashier
The National State Bank o f N ew a rk ..........................

. President, any Vice President, or Cashier

NEW YORK
Albany

. President, any Vice President, or Cashier

Buffalo

Manufacturers and Traders Trust Company

.

.

.

. President, any Vice President, or Secretary

Buffalo

The Marine Trust Company o f Western New York

.

. President, or any Vice President

New York City

Bank o f the Manhattan C o m p a n y ...............................

. Honorary Chairman, Chairman, Vice Chairman,
or President

The Bank o f New Y o r k ...............................................

. President, any Vice President, or Treasurer

Bankers Trust C o m p a n y ...............................................

. President, or any Vice President

The Chase National Bank o f the City o f New York

. Chairman o f the Board o f Directors, President,
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 C o m p a n y ..........................

. President, any Vice President, or Secretary

Com Exchange Bank Trust C o m p a n y ..........................

. 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 Y o r k .....................

. President, any Vice President, or Secretary

The Hanover B a n k .........................................................

. Chairman o f the Board, any Vice President o f
the Board, President, or any Vice President

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 ....................................

. Honorary Chairman o f the Board, Chairman o f the
Executive Committee, President, 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, or any Vice President

The National City Bank o f New Y o r k .....................

. President, any Vice President, or Cashier

The New York Trust C o m 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

Lincoln Rochester Trust C o m p a n y ...............................

. President, or any Vice President

4

.

.

FEDERAL

RESERVE

BANK

OF NEW YORK

Preferential Ballot
October 29, 1952
Group No. 1
This ballot and the certificate on the certificate envelope must be executed by
an officer who has been authorized to east the vote and whose appointment has
been duly certified.
The polls will open on October 30, 1952, and will close at 12 o ’clock noon on
Friday, November 14, 1952. This ballot must be returned so as to reach me before
the latter time.
Failure to observe instructions will invalidate this ballot.
R o b e r t T. S t e v e n s ,
Chairman o f the Board.
V O TE FOR

CLASS A D IR E C T O R O F F E D E R A L R E S E R V E B A N K O F
fo r term o f office from January 1, 1953 to D ecem b er 31, 1955
C a n d id a t e

New York, N. Y.
VOTE

FOR

O

CLASS B D IR E C T O R O F F E D E R A L R E S E R V E B A N K O F
for term o f office from January 1, 1953 to D ecem b er 31, 1955
C a n d id a t e

C l a r e n c e F r a n c is ,

New York, N. Y.

Chairman of the Board,
General Foods Corporation,
New York, N. Y.

YORK

(Indicate choice
by X below)

Chairman of the Executive Committee,
The National City Bank of New York,
New York, N. Y.

W . R a n d o lp h B u rg ess,

NEW

NEW

YORK

(Indicate choice
by X below)

O

D IR E C T IO 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 (w ith sealed colored ballot envelope enclosed
therein) in envelope addressed to M r. Robert T . Stevens, Chairman, Board o f Directors, Federal
Reserve Bank o f New York, Federal Reserve P. O . Station, New Y ork 45, N. Y .




BALLOT ENVELOPE
E l e c t io n o f D ir e c t o r s
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.



CERTIFICATE ENVELOPE

This Envelope Should Contain Only Ballot in Sealed Colored Envelope
It Will Not Be Opened Until Polls Close
G rou p N o . 1

1952.

.................................................................................................>

(Date)

To

T. S t e v e n s ,
Chairman o f the Board,
Federal Reserve Bank o f New York.

M r. R obert

In accordance with section 4 o f the Federal Reserve A ct, as amended, I hereby certify that
my choices for a class A director and a class B director o f the Federal Reserve Bank o f New York
for terms o f office from January 1, 1953 to December 31, 1955, are as indicated thus ( X ) in the
columns o f the ballot sealed herein.
For
(Name o f Bank)

 (Location of Bank)


(Signature of officer designated to vote. See list of member banks
in Group 1 in Circular No. 3911.)

(T IT L E of Voting Officer)




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.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102