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Federal

reserve bank
OF DALLAS

Dallas, Texas, April 6,1951

NOMINATIONS FOR CLASS B DIRECTOR
SPECIAL ELECTION

The member banks in Groups 1 and 3 will not participate in this election, and this circular
is sent to them without form s fo r their information only.

To the Member Banks of Group 2
in the Eleventh Federal Reserve District:
In accordance with the provisions of Section 4 of the Federal Reserve Act, and my
circular letter dated February 26, 1951, in regard to the special election of a Class B
Director of this bank to succeed Mr. J. R. Milam, deceased, and to serve during the unex­
pired portion of his term of office ending December 31,1951, there are listed in this circular
the name and business affiliations of a nominee for such directorship, together with a
list of the nominating banks.
Accompanying this circular is a ballot upon which you should record your vote,
together with the necessary envelopes for use in sending your ballot to me. Please follow
carefully the instructions which are printed on the ballot and on the envelopes.
Your vote may be cast only by an officer whose authorization by your Board of
Directors to vote in these elections has been certified to me as indicated on the list in my
circular letter of February 26, 1951, or subsequently changed by a certified authorization.
If you so desire, you may change your authorization by the proper action of your Board
of Directors, but any such change must be certified to me before the close of the polls.
The polls will open on April 9, 1951, and close at 2:00 p.m. on April 24, 1951. Conse­
quently, your ballot must be received here not later than 2:00 p.m., April 24, 1951, at
which time the ballot box will be opened in the Board Room of this bank, the votes counted,
and the results of the election announced. The nominee is invited to be present or repre­
sented on that occasion.
Each member bank entitled to vote in this election is urged to do so. Please mark
your ballot carefully and send it to me in the enclosed envelope at your earliest con­
venience after the opening of the polls.
Yours very truly,
J. R. PARTEN
Chairman of the Board

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

IMPORTANT
Please read carefully the instructions herein contained and the form of preferential ballot enclosed.
Unless a ballot of a voting member bank is prepared, authenticated, and cast in strict accordance with
said instructions, the election tellers will have no option except to disregard such ballot.
The ballot of each member bank must be cast by an officer previously empowered to do so by action
of its Board of Directors, certified to me upon forms furnished for the purpose.
My circular letter of February 26, 1951, giving notice of this election, contained a list of member
banks in Group 2, showing the officers who were then authorized to cast votes in directors’ elections.
Unless a bank has since changed its authorization, by corporate action duly certified to me, no officer,
except as designated on that list, can cast a vote in behalf of his bank.
Under the procedure for the election by member banks of Federal Reserve Bank directors, the vote
will be by secret ballot, and no one will know the vote of any bank. As there will be no opportunity for
any prior inspection of ballots for irregularities, the officer casting the ballot is requested to use special
care in its preparation.
For your information, there are quoted below extracts from Section 4 of the Federal Reserve Act
which set forth the method of balloting and the manner in which the votes are to be counted:
“W ith in fifteen days after receipt o f the list o f candidates the duly authorized officer o f a
member bank shall certify to the chairman his first, second, and other choices fo r director of
class A and class B , respectively, upon a preferential ballot upon a form furnished by the chair­
man o f the board of directors o f the Federal reserve bank of the district. Each such officer
shall make a cross opposite the name of the first, second, and other choices fo r a director o f
class A and for a director of class B , but shall not vote more than one choice for any one
candidate. N o officer or director o f a member bank shall be eligible to serve as a class A director
unless nominated and elected by banks which are members o f the same group as the member
bank o f which he is an officer or director.

“ A n y candidate having a m ajority o f all votes cast in the column o f first choice shall be
declared elected. I f no candidate have a m ajority of all the votes in the first column, then there
shall be added together the votes cast by the electors fo r such candidates in the second column
and the votes cast for the several candidates in the first column. The candidate then having a
m ajority o f the electors voting and the highest number o f combined votes shall be declared
elected. I f no candidate have a m ajority o f electors voting and the highest number o f votes
when the first and second choices shall have been added, then the votes cast in the third column
for other choices shall be added together in like manner, and the candidate then having the
highest number o f votes shall be declared elected. A n immediate report o f election shall be
declared.”

Interpretation: In elections held prior to 1948, the Board of Governors had taken the position
that where there were only two nominees, failure of a voting member bank to indicate both a
first choice and a second choice rendered its ballot invalid. In December 1947, however, the Board
of Governors considered this matter again and concluded that the requirements of the law,
above quoted, are met if each voting member bank marks only one choice. In such case the
voting member bank will be deemed to have indicated the other nominee as its second choice.
The enclosed ballot has been prepared on the basis of the revised procedure, and instructions
for its use are printed thereon. This procedure eliminates the necessity of invalidating a ballot
merely because a voting officer overlooked indicating a second choice.
“ W henever any two or more member banks within the sam e Federal reserve district are
affiliated with the sam e holding company affiliate, participation by such member banks in any
such nomination or election shall be confined to one o f such banks, which m ay be designated
fo r the purpose by such holding company affiliate.”

The member banks in the Eleventh Federal Reserve District are grouped as follows for the purpose
of electing Class A and Class B directors of the Federal Reserve Bank of Dallas: Group 1 consists of
banks with capital and surplus of ?650,000 and over; Group 2 consists of banks with capital and surplus
of over $150,000 and less than $650,000; and Group 3 consists o f banks with capital and surplus of
$150,000 and less.
Please forward your ballot so that it will reach this office on or before 2:00 p.m., April 24, 1951. If
the ballot is received after that time, it cannot be counted.

NOMINEE FOR CLASS B DIRECTOR

GEORGE H. ZIMMERMAN
Chairman of the Board and President
Wm. Cameron & Co.
Waco, Texas
Mr. Zimmerman is Chairman of the Board and President
of Wm. Cameron & Co. of Texas, Oklahoma, and New
Mexico, engaged in the business of manufacturing, job­
bing, and retailing woodwork products, lumber, and build­
ing materials. He is also Chairman of the Board and
President of Cameron Roofing Company, a construction
corporation. He is an attorney and is the author o f the book
entitled, “ Materialman’s Lien Laws of Texas,” published
and distributed by the Lumbermen’s Association of Texas.
Mr. Zimmerman has been associated with Wm. Cameron
& Co. since the year 1910 and, prior to his elevation to the
presidency of the company, he had served in the following
official capacities: General Sales Agent, Secretary, Vice
President, and Vice President and General Manager. Mr.
Zimmerman was bom in Spartanburg County, South Caro­
lina, on September 9, 1888, and moved to Cass County,
Texas, in the year 1891. He is a lifetime Director and past
President of the Lumbermen’s Association o f Texas, exMayor o f the City of Waco, member of the Masonic York
Rite Bodies, Past Potentate o f Karem Shrine Temple,
honorary life member of the Waco Rotary Club, and mem­
ber of the Austin Avenue Methodist Church.

Nominated by the Following Banks in Group 2:
New Mexico
Roswell........................The First National Bank of Roswell
Texas
Albany............................The First National Bank of Albany
Athens.................................................... First National Bank
Austin................................................... ...... Texas State Bank
Ballinger................................ ..................First National Bank
Belton............... ............The First National Bank in Belton
Big Spring.............. The First National Bank in Big Spring

Brownsville................................... Pan American State Bank
Brownwood....—
...... .Citizens National Bank at Brownwood
Brownwood.................... First National Bank in Brownwood
Cameron- ..............The Citizens National Bank o f Cameron
Carthage..................... ....................... First National Bank
Childress................ .—
The First National Bank in Childress
Cleburne..............................City National Bank of Cleburne
Cleburne________ ______ ________ Cleburne National Bank
Comanche............................... The Comanche National Bank
Corsicana.............. ........ ...State National Bank of Corsicana
Dallas....................... American National Bank of Oak Cliff,
Dallas, Texas
Dallas........................... Oak Lawn National Bank of Dallas
Eagle Pass.............. The First National Bank of Eagle Pass
Gainesville.....The Gainesville National Bank in Gainesville
Gatesville..................... ...... The National Bank o f Gatesville
Gladewater................. ......................... The First State Bank
Gonzales........................ ....... ...... ...........Gonzales State Bank
Grand Prairie............ First National Bank in Grand Prairie
Hamilton...........................................Hamilton National Bank
Harlingen................. The First National Bank of Harlingen
Hillsboro......... ...... The Citizens National Bank o f Hillsboro
Houston........................... Fidelity Bank and Trust Company
Houston____The Industrial State Bank of Houston, Texas
Jacksonville.......... The First National Bank of Jacksonville
Lampasas____________________ ______First National Bank
Lampasas.............. The Peoples National Bank o f Lampasas
Laredo................ ......... ....... Union National Bank of Laredo
Mercedes....................The First National Bank of Mercedes
Mexia.................. ....... .............First National Bank of Mexia
Mineral Wells ...The State National Bank of Mineral Wells
New Braunfels....The First National Bank of New Braunfels
....
Odessa.... ................................................— First State Bank
Palestine........ ........................
RoyallNationalBank
San Angelo............................................. First National Bank
Sonora.................................
FirstNationalBank
Taylor............ ......................... .......... The City National Bank
Taylor........................................First-Taylor National Bank
Terrell.................... The American National Bank of Terrell
Vernon........................................................... Herring NationalBank
Waco.............. —....................................... National City Bank
W axahachie.......... Citizens National Bank in Waxahachie
Weatherford.. .The Citizens National Bank of Weatherford
Weatherford______The Merchants and Farmers State Bank
of Weatherford
Winnsboro............ The First National Bank o f Winnsboro

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