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CIRCULAR N O .

239

FEDERAL RESERVE BANK
OF N E W YORK
December 27, 1919

T o ALL M E M B E R BANKS IN THE SECOND F E D E R A L R E S E R V E D I S T R I C T ,
DEAR S I R S :

On December 17 M r . William Boyce Thompson, whose term as Class B director of
the Federal Reserve Bank of New York expires December 3 1 , 1920, wrote me t h a t , having
accepted a p p o i n t m e n t as chairman of the W r ays and Means C o m m i t t e e of the Republican
National C o m m i t t e e , he resigned as a director of this bank. On December 22 M r . T h o m p s o n ' s
letter was presented to the directors of the bank and his resignation was accepted by them
with regret.
T h e Federal Reserve Act provides as follows:
"Vacancies t h a t may occur in the several classes of directors of
Federal reserve banks m a y be filled in the manner provided for the
original selection of such directors, such appointees to hold office for
the unexpired terms of their predecessors."
Mr. Thompson was elected a director of the Federal Reserve Bank of New York b y
Group 2 of the member banks in this district, which is now composed of banks having more
than $201,000 and less t h a n $1,999,000 capital and surplus.

Notice will be duly given to

the members of this group regarding the election to be held to choose a successor to M r . T h o m p son as soon as t h e d a t e of such election has been fixed by the Federal Reserve Board.




Yours very truly,
PIERRE

JAY,

Chairman.

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