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FEDERAL RESERVE BANK OF NEW YORK 'Circular No. 1795"1 .November 16, 1937J Results of Election of Directors To Member Banks in the Second Federal Reserve District: The election of directors to succeed GEORGE W. DAVISON, class A director, and THOMAS J. WATSON, class B director, whose terms expire December 31, 1937, has been duly held in accordance with the requirements of section 4 of the Federal Reserve Act, as amended, and the provisions of circular No. 1784, dated September 28, 1937. The results of the election are as follows: C. POTTER, Chairman of the Board of Directors, Guaranty Trust Company of New York, New York, N. Y., was elected by member banks in Group 1 as a class A director of this bank; and THOMAS J. WATSON, President, International Business Machines Corporation, New York, N. Y., was re-elected by member banks in Group 1 as a class B director of this bank. Each was chosen for a term of three years beginning January 1, 1938. WILLIAM OWEN D. YOUNG, Deputy Chairman of the Board.