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FEDERAL RESERVE BANK OF N E W YORK f Circular No. 2 4 8 8 1 L August 20, 1942 J To Member Banks in the Second Federal Reserve District: Randolph E. Paul, a Class C director of the Federal Reserve Bank of New York since June 1941, having been appointed General Counsel of the United States Treasury Department, has tendered his resignation as a director, and his resignation has been accepted. As provided in the Federal Reserve Act, Mr. Paul's successor will be appointed by the Board of Governors of the Federal Reserve System. BEARDSLEY R U M L , Chairman of the Board.