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FEDERAL RESERVE BANK OF NEW YORK Circular No. 2137 October 30, 1940 Nomination and Election of Directors (By member banks in Group 1 only, that is, member banks with capital and surplus of over $1,999,000). To Member Banks in the Second Federal Reserve District: In accordance with the provisions of section 4 of the Federal Reserve Act, as amended, and circular No. 2127, dated October 1, 1940, in regard to election of directors of this bank for terms of office from January 1, 1941, to December 31, 1943, to succeed WILLIAM C. POTTER, class A director, and THOMAS J. WATSON, class B director, whose terms expire December 31, 1940, there are given on pages 3 and 4 the names of the candidates nominated for such directors, indicating by whom nominated. To each bank in Group 1, except banks affiliated with holding company affiliates which have designated another bank to participate in this election*, the following are being sent with this circular: (a) (b) (c) (d) Preferential ballot for use in voting for candidates for class A director and class B director. Colored ballot envelope in which the ballot is to be sealed. Certificate envelope bearing on its face the certificate in regard to the vote. Addressed envelope in which all of the foregoing should be returned to me. The ballot and certificate on the certificate envelope must be executed by an officer who has been authorized to cast the vote. A list showing the officers designated for this purpose by the respective member banks in Group 1 was attached to the above mentioned circular dated October 1, 1940, and a similar list amended to October 28, 1940, is attached to this circular beginning at page 5. In order that the ballot may be secret, the name of the bank and the name and title of the voting officer should not be written on the ballot, but should be written only on the certificate envelope. (1) After the preferential ballot has been marked, (2) It 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. • As indicated in circular No. 2127, dated October 1, 1940, section 4 of the Federal Beserve 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 of directors of Federal reserve banks shall be confined to one of such banks, and the holding company affiliate may designate the bank to participate in such election. Consequently, the ballot of 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. The law provides that the ballot shall be cast within 15 days after receipt of the list of candidates transmitted herewith. The polls will open on October 31, 1940, and will close at 12 o'clock noon on Friday, November 15, 1940, and in order to be counted as valid the ballot must be received by me at or before the latter time. Upon the closing of the polls the ballot box will be opened in the board room of this bank, the sealed envelopes containing the ballots will be opened, the votes counted and checked by tellers and the results of the election announced. The candidates are invited to be present or represented on this occasion. 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. OWEN D. YOUNG, Chairman of the Board. Candidate for Class A Director LEON FRASER, NEW YORK, N. Y. President, The First National Bank of the City of New York, New York, N. Y. LEON FRASER was born in Boston, Massachusetts, in 1889, and was graduated from Columbia College with the degree of A.B. and from Columbia University with the degree of Ph.D. In 1914 he was admitted to the bar of the State of New York and thereafter practised in Paris, France, with the law firm of Coudert Brothers, and in New York City with the firm of Ropes, Gray, Boyden and Perkins. During the World War Mr. Fraser served in the American Expeditionary Forces and later became assistant general counsel and acting director of the United States Veterans' Bureau in Washington. He was general counsel for the "Dawes P l a n " for reparation payments and adviser in connection with the "Young Plan". He was elected vice president and director of the Bank for International Settlements, Basle, Switzerland, upon its formation in 1930, and later became president and chairman of the board. Since 1935 Mr. Fraser has been an officer and is now president and a director of The First National Bank of the City of New York. He was a member of the New York Clearing House Committee in 1938 and 1939, was chairman of Group VIII of the New York State Bankers Association in 1939 and was selected from the Second Federal Reserve District as a member of the Federal Advisory Council for the years 1939 and 1940. Mr. Fraser is a trustee of the Mutual Life Insurance Company of New York and is a director of several other corporations. He is also interested in educational matters and is a trustee of Columbia University, of Union College, Schenectady, of Trinity School, New York, of the American Academy in Rome, of the Carnegie Endowment for International Peace, and the Academy of Political Science. Nominated by the following member banks in Group 1 CONNECTICUT Place Bridgeport Bank or Trust Company The First National Bank and Trust Company of Bridgeport NEW JERSEY Jersey City Newark Newark The First National Bank of Jersey City Merchants and Newark Trust Company of Newark, N. J. The National Newark and Essex Banking Company of Newark NEW YORK Albany Albany Buffalo Buffalo Elmira New York New York New York New York New York New York New York New York New York New York New York New York New York New York New York New York Rochester Syracuse Syracuse Utica First Trust Company of Albany The National Commercial Bank and Trust Company of Albany Liberty Bank of Buffalo Manufacturers and Traders Trust Company Chemung Canal Trust Company Bank of the Manhattan Company Bank of New York Bankers Trust Company Bronx County Trust Company The Chase National Bank of the City of New York Chemical Bank & Trust Company City Bank Farmers Trust Company The Commercial National Bank and Trust Company of New York Corn Exchange Bank Trust Company Grace National Bank of New York Guaranty Trust Company of New York Irving Trust Company Lawyers Trust Company Manufacturers Trust Company The National City Bank of New York The Public National Bank and Trust Company of New York Lincoln-Alliance Bank and Trust Company First Trust & Deposit Company The Syracuse Trust Company First Bank & Trust Company of Utica Candidate for Class B Director DONALDSON BROWN, NEW YORK, N. Y. Vice Chairman of the Board and Vice President of General Motors Corporation, New York, N. Y. DONALDSON BROWN was born in Baltimore, Maryland, on February 1, 1885, and was graduated from Virginia Polytechnic Institute with the degree of Bachelor of Science. In 1903 he attended Cornell University and completed his studies there in a course in electrical engineering. Mr. Brown was engaged in the sale of electrical machinery for five years and in 1908 was employed by E. I. du Pont de Nemours & Company as a salesman of commercial explosives. He was assigned to special analytical work in 1912, was transferred to the treasurer's office in 1914 and soon after was elected assistant treasurer. In 1918 he was elected treasurer of the company and also became a member of its board of directors and executive committee, and in 1919 a member of its finance committee. In 1921 Mr. Brown became vice president, in charge of finance, of General Motors Corporation, and was elected to its board of directors and finance committee. In 1929 he became chairman of the finance committee of General Motors Corporation and in 1937 was elected vice chairman of the board and a member of the policy committee. Mr. Brown continues as a director of E. I. du Pont de Nemours & Company and a member of its finance committee, and also is a director of Ethyl Gasoline Corporation and General Motors Acceptance Corporation. He has been a trustee of Johns Hopkins University since 1937. Nominated by the following member banks in Group 1 CONNECTICUT Place Bridgeport Bank or Trust Company The First National Bank and Trust Company of Bridgeport NEW JEESEY Jersey City Newark Newark The First National Bank of Jersey City Merchants and Newark Trust Company of Newark, N. J. The National Newark and Essex Banking Company of Newark NEW YORK Albany Albany Buffalo Buffalo Elmira New York New York New York New York New York New York New York New York New York New York New York New York New York New York New York New York Rochester Syracuse Syracuse Utica First Trust Company of Albany The National Commercial Bank and Trust Company of Albany Liberty Bank of Buffalo Manufacturers and Traders Trust Company Chemung Canal Trust Company Bank of the Manhattan Company Bank of New York Bankers Trust Company Bronx County Trust Company The Chase National Bank of the City of New York Chemical Bank & Trust Company City Bank Farmers Trust Company The Commercial National Bank and Trust Company of New York Corn Exchange Bank Trust Company Grace National Bank of New York Guaranty Trust Company of New York Irving Trust Company Lawyers Trust Company Manufacturers Trust Company The National City Bank of New York The Public National Bank and Trust Company of New York Lincoln-Alliance Bank and Trust Company First Trust & Deposit Company The Syracuse Trust Company First Bank & Trust Company of Utica 1940 Election of Directors List of 52 Member Banks in Group 1 Revised to October 28, 1940 Group 1 consists of member banks with capital and surplus of over $1,999,000. CONNECTICUT Bank or Trust Company Place Bridgeport Stamford Officers Authorized to Cast Vote The First National Bank and Trust Company of BridgePresident, any Vice President, or Cashier port The First-Stamford National Bank and Trust Company President, any Vice President, or Cashier NEW JERSEY Jersey City Jersey City Jersey City Newark Newark Newark Newark Newark Paasaic Paterson President, any Vice President, or Treasurer President, any Vice President, or Cashier The First National Bank of Jersey City . President, any Vice President, or Cashier Hudson County National Bank President, or any Vice President Federal Trust Company Chairman, President, or any Vice PresiFidelity Union Trust Company dent Merchants and Newark Trust Company of Newark, N. J. President, any Vice President, Secretary, or Treasurer The National Newark and Essex Banking Company of President, any Vice President, or Cashier Newark President, any Vice President, or Cashier The National State Bank of Newark . President, any Vice President, or Cashier Passaic National Bank and Trust Company President, any Vice President, or Cashier The Second National Bank of Paterson Commercial Trust Company of New Jersey NEW YORK Albany Albany Albany Brooklyn Buffalo Buffalo Buffalo Elmira New York New York New York New York First Trust Company of Albany . . . . President, or any Vice President The National Commercial Bank and Trust Company of Albany President, any Vice President, or Cashier State Bank of Albany President, any Vice President, or Cashier Brooklyn Trust Company President, any Vice President, or Secretary Liberty Bank of Buffalo President, any Vice President, or Cashier Manufacturers and Traders Trust Company . President, any Vice President, or Secretary The Marine Trust Company of Buffalo . President, or any Vice President Chemung Canal Trust Company . . . . President, any Vice President, Cashier, Secretary, or Treasurer Bank of the Manhattan Company . . . . Honorary Chairman, Chairman, ViceChairman, or President Bank of New York President, any Vice President, or Treasurer Bankers Trust Company President, or any Vice President Bronx County Trust Company President, or any Vice President NEW YORK Place (Continued) Officers Authorized to Cast Vote Bank or Trust Company New York New York Central Hanover Bank and Trust Company The Chase National Bank of the City of New York . New York New York Chemical Bank & Trust Company City Bank Farmers Trust Company New York The Commercial National Bank and Trust Company of New York New York New York New York New York New York New York New York New York New York New York New York New York New York New York New York New York Niagara Falls Rochester Syracuse Syracuse Troy Utica . . . . . . . . President, or any Vice President Chairman of the Board of Directors, President, any Vice President, or Cashier President, or any Vice President President, any Vice President, or Secretary President, any Vice President, or Cashier The Continental Bank & Trust Company of New York President, any Vice President, or Treasurer Chairman, Vice Chairman, President, or Corn Exchange Bank Trust Company . . . . any Vice President President, any Vice President, or Cashier The Fifth Avenue Bank of New York President, any Vice President, or Cashier The First National Bank of the City of New York . Fulton Trust Company of New York . . . . President, any Vice President, or Secretary Grace National Bank of New York . . . . President, any Vice President, or Cashier Guaranty Trust Company of New York President, any Vice President, or Secretary Irving Trust Company President, or First Vice President President, any Vice President, Secretary, Lawyers Trust Company or Treasurer Manufacturers Trust Company Chairman of the Board, President, Vice Chairman of the Board, Chairman of the Trust Committee, or any Vice President The Marine Midland Trust Company of New York . Chairman of the Board, President, any Vice President, or Chairman of the Executive Committee The National City Bank of New York . President, any Vice President, or Cashier The New York Trust Company President, or any Vice President The Public National Bank and Trust Company of New York President, any Vice President, or Cashier Schroder Trust Company President, any Vice President, or Secretary Sterling National Bank & Trust Company of New York President, any Vice President, or Cashier United States Trust Company of New York President, or any Vice President Power City Trust Company President, Executive Vice President, any Vice President, or Secretary Lincoln-Alliance Bank and Trust Company . President, any Vice President, or Secretary First Trust & Deposit Company President, any Vice President, or Secretary Chairman of the Board, President, any Vice President, or Treasurer The Manufacturers National Bank of Troy President, any Vice President, or Cashier First Bank & Trust Company of Utica President, any Vice President or Secretary FEDERAL RESERVE BANK OF NEW YORK Preferential Ballot October 30,1940. 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 certified to me. The polls will open on October 31, 1940, and will close at 12 o'clock noon on Friday, November 15,1940. This ballot must be returned so as to reach me before the latter time. Failure to observe instructions will invalidate this ballot. OWEN D. YOUNG, Chairman of the Board. VOTE FOR CLASS A DIRECTOR OF FEDERAL RESERVE BANK OF NEW YORK for term of office from January 1, 1941 to December 31, 1943 CANDIDATE LEON FRASER, New York, N. Y. President, The First National Bank of the City of New York, New York, N. Y. (Indicate choice by X below) o VOTE FOR CLASS B DIRECTOR OF FEDERAL RESERVE BANK OF NEW YORK for term of office from January 1, 1941 to December 31, 1943 CANDIDATE DONALDSON BROWN, New York, N. Y. 1. 2. 3. 4. Vice Chairman of the Board and Vice President of General Motors Corporation, New York, N. Y. (Indicate choice by X below) o DIRECTIONS FOE VOTING Mark this preferential ballot to indicate choices. Place preferential ballot so marked in the colored ballot envelope and seal that envelope. Place sealed colored ballot envelope in certificate envelope and seal certificate envelope and execute certificate thereon. Return sealed and executed certificate envelope (with sealed colored ballot envelope enclosed therein) in envelope addressed to Mr. Owen D. Young, Chairman, Board of Directors, Federal Reserve Bank of New York, New York, N. Y. CERTIFICATE ENVELOPE This Envelope Should Contain Only Ballot in Sealed Colored Envelope It Will Not Be Opened Until Polls Close Group No. I f 1940. To MB. OWEN D. YOUNG, Chairman of the Board, Federal Reserve Bank of New York. In accordance with section 4 of the Federal Reserve Act, as amended, I hereby certify that my choices for a class A director and a class B director of the Federal Reserve Bank of New York for terms of office from January 1, 1941 to December 31, 1943, are as indicated thus (X) in the columns of the ballot sealed herein. For (Name of Bank) Signature of officer designated to vote (Location of Bank) TITLE of Voting Officer BALLOT ENVELOPE ELECTION OF DIRECTORS 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. MR. OWEN D. YOUNG, Chairman, Board of Directors, Federal Reserve Bank of New York, New York, N. Y.
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