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F e d e r a l R e s e r v e Ba n k


D allas

C i r c u l a r No. 76-108
A u g u s t 2, 1976

A m e r ic a n R e v o l u tio n B ic e n te n n ia l

o fficia l announcem ent

t o a l l b a n k s in t h e

I am pleased to announce that the Board of Directors of the Federal Reserve Bank of
Dallas has made th r e e changes in the official staff of the Houston Branch effective October 1,
J . Z. Rowe, A ssistant Vice P residen t, has been appointed Vice P re sid en t, succeeding
Rasco R. S to ry , who will retire October 1 after more than 43 y ears of se rvice with the Bank.
Sammie C. Clay, Operations Officer, will succeed Mr. Rowe as A ssistan t Vice P re sid en t, and
C. O. Holt, J r . , Manager of the Regional Check Processing Center (RCPC) Department, will
succeed Mr. Clay as Operations Officer.
On December 1, 1976, Mr. Rowe will become Vice P resid en t in C harge of the Houston
Branch. He will succeed Senior Vice P re sident James L. Cauthen, who will re tire that day after
almost 47 y e a rs of service with the Bank.
Mr. Rowe, who holds a P h .D . d e g ree in economics from P urdue U niversity and who is
a g rad u ate of the Stonier Graduate School of Banking at Rutgers U niversity, joined the Federal
Reserve Bank of Dallas in Ja n u a ry 1955. He was elected to the official position of Director of Re­
search in August 1962 and promoted to A ssistant Vice P resident at the Houston Branch in Ju ly
Mr. Clay was employed by the Houston Branch in May 1960. He was promoted to Mana­
g e r of the RCPC Department in December 1973 and to Manager of the Checks Department in May
1974 before becoming Operations Officer in Septem ber 1975. Mr. Clay holds a Graduate Certificate
from the American Institute of Banking and an Associate Arts d eg ree from San Jacinto Ju n io r Col­
lege. He is p resen tly attending the University of Houston.
Mr. Holt was employed by the Houston Branch in September 1968. He was named Man­
ager of the Personnel Department in F e b ru a ry 1973 and became Manager of the RCPC Department in
September 1975. Mr. Holt holds a B .B .A . d eg ree from McMurry College and has attended the
Interviewing Institute at th e U niversity of Houston.
S in c e re ly y o u r s ,

E rnest T . Baughman
P resident

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