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Dallas, Texas, November 13, 1929


To the Member Bank Addressed:
In accordance with the provisions of Section 4 of the Federal Reserve Act and my circular dated
October 1, 1929, in regard to election of directors of this bank to succeed Howell E. Smith, Class A direc­
tor, and J. J. Culbertson, Class B director, whose terms expire December 31, 1929, there is given here­
with a list of the candidates nominated for such directors, indicating by whom nominated.
There is sent herewith to each bank in Group 2 a preferential ballot for use in voting on the
candidates for Class A director and to each bank in Group 3 a preferential ballot for use in voting on
the candidate for Class B director. There is also enclosed an envelope bearing on its face the certificate
in regard to the vote; also a colored envelope marked “ Ballot,” in which the ballot is to be sealed.
The ballot and certificate on the envelope must be executed by the officer who has been author­
ized to cast the vote. A list of the designated voters was attached to my circular above mentioned. In
order that the ballot may be secret, the name of the bank and of the voting officer should not be writ­
ten on the ballot, but only on the certificate envelope.
(1) After the preferential ballot has been marked,
(2) It should be placed in the colored envelope marked “ Ballot” and the envelope sealed.
(3) Then after the certificate on the certificate envelope is executed, the colored sealed envelope
should be placed within and the certificate envelope sealed.
(4) Then this certificate envelope containing the sealed ballot envelope should be returned to me
in the enclosed self-addressed envelope.
Under the law the ballot must be returned so as to reach me within 15 days after its receipt.
The polls will open on November 15 and close at 3:00 P. M. on December 2, 1929. At that time the ballot
box will be opened in the board room of this bank. All of the sealed colored envelopes containing the
ballots will first be removed and segregated from the certificate envelopes before any of the colored en­
velopes are opened, thus insuring the secrecy of the ballot. Then the colored envelopes will be opened,
the votes counted and results of the election announced. Any of the candidates are invited to be present
or represented on this occasion.
While the banks in Group 1 will not vote in this election, this circular is sent to them without
forms for their information.



Chairman of the Board.

It is particularly important that you read carefully and follow exactly the instruc­
tions with regard to voting. Failure to do so will result in invalidation of your ballot.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (

Names of Candidates
HOWELL E. SMITH, President
First National Bank
McKinney, Texas
Mr. Smith was born in Monroe, Wisconsin, in
1863, graduating from the Monroe Public Schools
in 1880. He moved to McKinney, Texas, in 1887,
and was employed by the First National Bank of
On January 15, 1900, was elected Vice Presi­
dent of the bank and on July 20, 1905, assumed
the duties of Cashier. On May 9, 1921, was elected
President of the bank, in which capacity he has
since served.
During 1914 and 1915 he served as a member
of the Executive Committee of the Dallas Cur­
rency Association, under the Aldrich-Vreeland
Served as President of the Texas Bankers’ As­
sociation during the 1917-1918 term, and upon the
organization of the Capital Issues Committee of
the Eleventh Federal Reserve District, 1917, he
was made a member and served during the life
of that committee.
He has been a director of the Texas Power &
Light Company of Dallas, Texas, for several
Has served as a Class A director of the Federal
Reserve Bank of Dallas representing banks in
Group 2 since 1921.
J. P. WILLIAMS, President
First National Bank
Mineral Wells, Texas
Mr. Williams was born on a farm near Decatur,
Wise County, Texas, January 7, 1884, receiving
his education in the public schools of Decatur and
Eastman College, Poughkeepsie, New York. His
early business training was with a hardware com­
pany at Decatur, and as Secretary and Manager
of the Wise County Coal Company at Bridgeport,
Texas. In 1908 moved to Paradise, Texas, where
he established a private bank. In 1910 he was
elected County Clerk of Wise County, to which
office he was re-elected for a second term without
opposition. He was not a candidate for re-nomina­
tion for a third term.
In 1915 he moved to Garza County, Texas,
where he operated a ranch for three years. He
then moved to Post, Texas, where he organized
the First State Bank of Post, now the Citizens
National Bank.
In 1919 Mr. Williams moved to Mineral Wells,
where he was elected Vice President of the First
National Bank of that city. In August, 1922, he
was elected President of the bank, in which ca­
pacity he has since served.
Mr. Williams still owns and operates a farm
and ranch in Garza County; he is also interested
officially in banks at Perrin, Paradise and Decatur,
Texas, and in automobile agencies at Tulia, Happy
and Jacksboro, Texas.

Nominated by Following Banks in Group 2:

New Mexico
RoswelL,____________________First National Bank
Durant________________Durant National Bank in
Beaumont___________________City National Bank

Texas National Bank

Brenham-----------------------------First National Bank
Eagle Lake_________________First National Bank
Hillsboro------------------------ Farmers National Bank
Kaufman______Farmers & Merchants Nat’l Bank
M art-----------------------------------First National Bank
Palestine--------------------------- Royall National Bank
Paris---------------------------- American National Bank
Santa Anna---------------- ;____ First National Bank

Waggoner National Bank

Anson------------------------------- First National Bank
Corpus Christi_____City Nat’l Bank & Trust Co.
Dawson--------------------------Liberty National Bank
Decatur----------------------------- First National Bank
Jacksboro-------------------------- First National Bank
Lubbock_________________ Citizens National Bank
Lubbock----------------------------First National Bank
Lubbock________________ Lubbock National Bank
Mercedes---------------------------First National Bank
Mineral Wells---------------------City National Bank
Mineral Wells______________First National Bank
Mineral Wells--------------------- State National Bank
Plainview______________ Plainview National Bank
Port Arthur----------------------- First National Bank
Silverton___________________ First National Bank
Snyder___________________ Snyder National Bank
Stamford_________________ First National Bank
Stamford_____________________ First State Bank
Tulia_______________________First National Bank
Weatherford_____________ Citizens National Bank


Name of Candidate

Nominated by Following Banks in Group 3:

Cotton Seed Products
Paris, Texas
Mr. Culbertson was born in Cincinnati, Ohio,
March 16, 1853.
He received a public school education, his first
employment being in Philadelphia, Pa., at the age
of fifteen. He later went to New York, being em­
ployed by a wholesale drygoods commission mer­
chant for ten years. He came south in 1883 and
established a cotton seed oil mill at Paris, Texas.
Was later manager of the Southern Cotton Oil
Company at Little Rock, Arkansas, following
which he assumed management of their plant at
Houston, Texas. He built the present cotton seed
oil plant at Paris, later, with his associates, build­
ing similar plants at various cities in Texas, Louis­
iana, Mississippi and Oklahoma. These plants have
since been merged under the name of the South­
land Cotton Oil Company of Texas, of which Mr.
Culbertson is Vice President.
He is also Vice President of the Hugo Cotton
Oil Company of Hugo, Oklahoma, Rosebud Cotton
Oil Company of Rosebud, Texas, and Vice Presi­
dent of the Busbert Gin Company, owner of some
forty gins in Texas and Oklahoma.
For some years he served actively as Chairman
of the Legislation Committee of the Interstate
Cotton Seed Crushers Association, being elected
President of the Association in 1916.

Achille------------ Farmers & Merchants Nat’l. Bank


Baird------------------------------------------- First NationalBank
Clarendon------------------------------------ First NationalBank
Floydada----------------Floyd County National Bank
McAllen--------------------------First National Bank in
Mertzon--------------------------------------- First NationalBank
M oody-------------------------------- First National Bank
Pampa----------------------------------------- First NationalBank

Is a member of the National Foreign Trade
Council in New York.

Panhandle------------------------------------ First NationalBank

He aided in organizing the Cotton Seed Product
section of the Food Administration in Washington
during the World War.

Smithville------------------------------------ First NationalBank

Elected a Class B director of the Federal Re­
serve Bank of Dallas, representing banks in Group
3, when the bank was established, in which capac­
ity he has since served.

Troup----------------------------------------- First NationalBank
Turkey----------------------------------------First NationalBank

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