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CIRCULAR N O . 237 FEDERAL RESERVE BANK OF NEW YORK NEW YORK, December 17, 1919 RESULTS OF ELECTION OF DIRECTORS To ALL MEMBER BANKS IN THE SECOND FEDERAL RESERVE DISTRICT, DEAR SIRS : As a result of the election of directors by member banks in Group 1, Second Federal Reserve District, Mr. James S. Alexander, President of the National Bank of Commerce in New York, has been elected a Class A Director, and Mr. Charles A. Stone, President of the American International Corporation, a Class B Director of the Federal Reserve Bank of New York, each for a term of three years from January 1, 1920. The total number of votes cast for each candidate is as follows: CLASS A DIRECTOR CLASS B DIRECTOR James S. Alexander 59 Charles A. Stone 59 Total number of votes cast 59 Total number of votes cast 59 Yours very truly, PIERRE JAY, * Chairman.