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Federal

reserve

Bank

O F DALLAS

Dallas, Texas, November 2, 1951

NOMINATION AND ELECTION OF DIRECTORS
(By Member Banks in Groups 1 and 2)

The member banks in Group 3 will not participate in this election, and this circular is
sent to them without forms for their information only.

To the Member Banks of Groups 1 and 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 September 28,1951, in regard to the election of directors of this bank
to succeed Mr. P. P. Butler, Class A director, and Mr. George H. Zimmerman, Class B
director, whose terms will expire December 31, 1951, there are listed in this circular the
names of the individuals nominated, together with the names of the banks nominating
them.
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.
The vote of your bank may be cast only by an officer whose authorization by the
Board of Directors to vote in these elections has been certified to me as indicated on the
list in my circular letter of September 28, 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 November 5, 1951, and close at 2:00 p.m. on November 20, 1951.
Consequently, your ballot must be received here not later than 2:00 p.m., November 20,
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 nominees are invited to be present
or represented 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 convenience
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)

IM PO RTAN T
Please read carefully the instructions herein contained and the form o f 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 September 28, 1951, giving notice of this election, contained a list of member
banks in Groups 1 and 2, showing the officers who were then authorized to cast votes in directors’ elec­
tions. 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 ithin fifteen days after receipt o f the list o f candidates the duly authorized officer of a
member bank shall certify to the chairman his first, second, and other choices for 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 o f the district. Each such officer shall
make a cross opposite the name o f the first, second, and other choices fo r a director o f class A
and for a director o f class B , but shall not vote more than one choice fo r any one candidate. N o
officer or director o f a member bank shall be eligible to serve as a class A director unless nomi­
nated and elected by banks which are members of the sam e 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 of first choice shall be
declared elected. I f no candidate have a m ajority o f 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 fo r the several candidates in the first column. The candidate then having a
m ajority o f the electors voting and the highest number of 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 col­
umn fo r 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 candidates, 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 candidates 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 for
the purpose by such holding company affiliate.”

The member banks in the Eleventh Federal Reserve District are grouped as follows for the pur­
pose 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 over $150,000 and less than $650,000; and Group 3 consists of banks with capital and surplus
o f $150,000 and less.
Please forward your ballot so that it will reach this office on or before 2:00 p.m., November 20,
1951. If the ballot is received after that time, it cannot be counted.

NOMINEE FOR CLASS A DIRECTOR

P. P. BUTLER

Nominated by the Following Banks in Group 1:

President
First National Bank in Houston

Texas

Houston, Texas
Mr. Butler was born in Bullard, Smith County, Texas, on
August 18, 1891, and attended the public school in Troup,
Texas. He began his business career with the LutcherMoore Lumber Company at Orange, Texas, where he served
successively as Paymaster at the logging camp and as
Bookkeeper and General Purchasing Agent in the General
Office. In 1919 he moved to Beaumont and assisted in the
organization of the Beaumont Export & Import Company,
serving as Secretary-Treasurer until May 1, 1928. On that
date he entered the banking field as Executive Vice Presi­
dent of the American National Bank of Beaumont and was
elected President of that institution in 1937. On May 1,
1944, he was elected Executive Vice President of the First
National Bank in Houston, Texas, and became its President
on January 1, 1945.
Mr. Butler has been an active participant in the social
and civic affairs of the communities in which he has re­
sided. During his residence in Beaumont, he served as
President of the United Charities, the Beaumont Family
Welfare Bureau, and the Community Chest; as a director
and officer of the Boy Scouts for many years; and as Presi­
dent of the Beaumont Rotary Club, Round Table, and the
Beaumont Country Club.
At the present time he is director and member of the
Executive Committee of the Houston Fat Stock Show and
Livestock Exposition, and the Executive Committee of
Junior Achievement, Inc.; a director of the East Texas
Chamber of Commerce, the Houston Symphony Orchestra,
the Southwestern Life Insurance Company, Dallas, Texas,
the First National Bank in Houston, and the Industrial
State Bank, Houston, Texas; Councilor of the A & M Re­
search Foundation; and a member of the Committee on
International, Political, and Social Problems of the United
States Chamber of Commerce, the Houston Rotary Club, the
Houston Club, the Houston Country Club, St. Luke’s Meth­
odist Church, and the Arabia Temple Shrine, Houston,
Texas. He is past president of the Houston Chamber of
Commerce, and past president and director of the Sam
Houston Area Council of the Boy Scouts of America and a
holder of the Silver Beaver Award.

Amarillo.............................................Amarillo National Bank
Amarillo............ The American National Bank of Amarillo
Austin..................................... The American National Bank
Austin..................................... ..The Austin National Bank
Beaumont........ The American National Bank of Beaumont
Beaumont........ .....The First National Bank of Beaumont
Corpus Christi................The Corpus Christi National Bank
Corpus Christi.........State National Bank of Corpus Christi
Corsicana............... ..........Ffrst National Bank of Corsicana
Dallas.................................................... Dallas National Bank
Dallas......................................Empire State Bank of Dallas
Dallas......................................First National Bank in Dallas
Dallas............... ........ ....Mercantile National Bank at Dallas
Dallas............................... Republic National Bank of Dallas
El Paso.............. ...........The State National Bank of El Paso
Fort Worth............ The First National Bank of Fort Worth
Fort Worth........................... The Fort Worth National Bank
Galveston..... Hutchings-Sealy National Bank of Galveston
Galveston....The United States National Bank of Galveston
Houston.................................................... Citizens State Bank
Houston............................... First National Bank in Houston
Houston............................. Houston Bank & Trust Company
Houston............... ...............................Houston National Bank
Houston..........The National Bank of Commerce of Houston
Houston................ South Texas National Bank of Houston
Houston......................The Union National Bank of Houston
Marshall................ .....The First National Bank of Marshall
Midland...............................................Midland National Bank
Port Arthur.......... The First National Bank o f Port Arthur
San Angelo....... The Central National Bank of San Angelo
San Antonio.......The Alamo National Bank of San Antonio
San Antonio............................. Bexar County National Bank
San Antonio........ The Frost National Bank o f San Antonio
San Antonio.—
National Bank of Commerce of San Antonio
Temple................................................ Temple National Bank
Tyler............................The Citizens National Bank of Tyler
Victoria................ ...............Victoria Bank & Trust Company
Victoria.................. The Victoria National Bank of Victoria
Waco........................... The Citizens National Bank of Waco
W aco................................ The First National Bank of Waco
Wichita Falls............City National Bank in Wichita Falls
Wichita Falls............First National Bank of Wichita Falls

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, jobbing,
and retailing woodwork products, lumber, and building ma­
terials. He is also Chairman of the Board and President of
Cameron Roofing Company, a construction corporation. He
is an attorney and is the author of the book entitled, “ Ma­
terialman’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 of Texas, exMayor of the City of Waco, member of the Masonic York
Rite Bodies, Past Potentate o f Karem Shrine Temple, hon­
orary life member of the Waco Rotary Club, and member
of the Austin Avenue Methodist Church,

Nominated by the Following Banks in Group 2:
New Mexico
Hobbs.......................... .......... First National Bank o f Hobbs
Roswell..........................The First National Bank of Roswell
Oklahoma
Durant........................The Durant National Bank in Durant
Texas
Abilene..........................................................First State Bank
Albany............................The First National Bank o f Albany
Austin..........................................................Texas State Bank

Ballinger................................................. First National Bank
Bay City........................... Bay City Bank & Trust Company
Belton............................. The First National Bank in Belton
Borger..................................................... First National Bank
Brownfield.......... Brownfield State Bank & Trust Company
Brownfield.............. The First National Bank of Brownfield
Brownsville................................... Pan American State Bank
Brownwood....................First National Bank in Brownwood
Cameron................ The Citizens National Bank of Cameron
Canadian....................The First National Bank of Canadian
Cleburne.......................................... Cleburne National Bank
........First-Coleman National Bank of Coleman
Coleman .—
Conroe.....................................First National Bank in Conroe
Dallas. American National Bank of Oak Cliff, Dallas, Texas
Dallas............................. Oak Lawn National Bank of Dallas
Denison........................The State National Bank of Denison
El Campo....................Commercial State Bank of El Campo
Gainesville.....The Gainesville National Bank in Gainesville
Gatesville.................... -..... -The National Bank of Gatesville
——
Gonzales-— ...................................... Gonzales State Bank
Graham......................................The Graham National Bank
Hamilton....................................— Hamilton National Bank
Harlingen..................The First National Bank of Harlingen
Hillsboro................ The Citizens National Bank of Hillsboro
Houston........................... Fidelity Bank and Trust Company
Houston........ The Industrial State Bank of Houston, Texas
Jacksonville.......... The First National Bank o f Jacksonville
Karnes City—................ The Karnes County National Bank
o f Karnes City
Kingsville.......... Kleberg First National Bank o f Kingsville
Laredo................................. Union National Bank of Laredo
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.............. ................................Royall National Bank
Sonora...................................................... First National Bank
Sweetwater............................. National Bank of Sweetwater
Taylor............ ............. .................... The City National Bank
Taylor......................................... First-Taylor National Bank
Terrell....................The American National Bank of Terrell
Vernon................................................Herring National Bank
Vernon..................The Waggoner National Bank of Vernon
Waco..........................................................National City Bank
Weatherford........ The Merchants and Farmers State Bank
o f Weatherford
Winnsboro.............. The First National Bank of Winnsboro

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