The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F e d e r a l R e s e r v e Ba n k OF DALLAS Dallas, Texas, November 6, 1953 NOMINATION AND ELECTION OF DIRECTORS (By Member Banks in Groups 2 and 3) The member banks in Group 1 will not participate in this election, and this circular is sen t to them w ithout form s fo r th e ir information only. To the Member Banks in Groups 2 and 3 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 30,1953, in regard to the election of directors of this bank to succeed Mr. W. L. Peterson, Class A director, and Mr. W. F. Beall, Class B director, whose terms will expire December 31, 1953, 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 30, 1953, 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 9,1953, and close at 2 :00 p.m. on November 24,1953. Consequently, your ballot must be received here not later than 2:00 p.m., November 24, 1953, 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 th a t 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) 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 September 30, 1953, giving notice of this election, contained a list of member banks in Groups 2 and 3, 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 th a t 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: “Within fifteen days after receipt of the list of 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 of the board of directors of the Federal reserve bank of the district. Each such officer shall make a cross opposite the name of the first, second, and other choices for a director of class A and for a director of class B, but shall not vote more than one choice for any one candidate. No officer or director of 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 same group as the member bank of which he is an officer or director. ********** “Any candidate having a majority of all votes cast in the column of first choice shall be declared elected. If no candidate have a majority of all the votes in the first column, then there shall be added together the votes cast by the electors for such candidates in the second column and the votes cast for the several candidates in the first column. The candidate then having a majority of the electors voting and the highest number of combined votes shall be declared elected. If no candidate have a majority of electors voting and the highest number of votes when the first and second choices shall have been added, then the votes cast in the third col umn for other choices shall be added together in like manner, and the candidate then having the highest number of votes shall be declared elected. An immediate report of election shall be declared. ********** “Whenever any two or more member banks within the same Federal reserve district are affiliated with the same holding company affiliate, participation by such member banks in any such nomination or election shall be confined to one of such banks, which may 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 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 of banks with capital and surplus of $150,000 and less. Please forward your ballot so th at it will reach this office on or before 2 :00 p.m., November 24, 1953. If the ballot is received after th a t time, it cannot be counted. NOM INEE FO R C LASS A DIRECTOR W. L. PETERSON President The State National Bank of Denison Denison, Texas Mr. Peterson was bom in Hallettsville, Texas, December 9, 1893, where he was also reared. He began his banking career in 1912 as bookkeeper at the Eagle Lake State Bank of Eagle Lake, Texas. In 1917 he volunteered for military service in World War I; upon being discharged in 1919, he returned to the Eagle Lake State Bank as cashier. He resigned the last-named position early in 1921 to become a State bank examiner and later served as Depart mental Examiner when there were over 1,000 State banks in Texas. In 1922 he was made General Liquidating Agent and had supervision of the liquidation of approximately 80 insolvent State banks. In 1923 he was appointed Deputy Banking Commissioner of Texas, which position he re signed in 1924 to assume the active management of the State National Bank of Denison. Mr. Peterson is a director of the First National Bank, Antlers, Oklahoma; President of the Bank of Wilson, Wil son, Oklahoma; President of the North Texas Loan & Trust Company, Denison, Texas; and Chairman of the Board of W ap les-P latter Company, a large wholesale grocery concern with headquarters in Fort Worth, Texas. He is a member of the Board of Development of Southern Methodist University. Throughout World War II he served as District Chair man of the War Finance Committee including Grayson, Fannin, and Cooke Counties. He is a past president of the Denison Chamber of Commerce; a past president of the Denison School Board; a past president of the Board of Stewards of Waples-Memorial Methodist Church of Deni son; and a Past Master of Eagle Lake Lodge A. F. & A. M., No. 366. He has served as Chairman of the 5th District, Texas Bankers Association. Nominated by the Following Banks in Group 2: New Mexico Hobbs.......................................First National Bank of Hobbs Portales................................................. First National Bank Roswell.......-................. The First National Bank of Roswell Oklahoma Durant......................The Durant National Bank in Durant Durant..........................The First National Bank in Durant Texas Albany............... ..........The First National Bank of Albany Alpine............................. The First National Bank in Alpine Arlington..........................First National Bank in Arlington Bay City.......... .... ..........Bay City Bank & Trust Company Belton............................ The First National Bank in Belton Borger...................................First National Bank of Borger Brenham............................ Washington County State Bank Brownfield......... Brownfield State Bank & Trust Company Brownwood_______ Citizens National Bank at Brownwood Bryan................ ..... .............First National Bank of Bryan Cleburne.............................City National Bank of Cleburne Cleburne................... ...... .................Cleburne National Bank Dallas.American National Bank of Oak Cliif, Dallas, Texas Decatur....................... The First National Bank in Decatur El Campo....................Commercial State Bank of El Campo Elgin.....................................................Elgin National Bank Gainesville ...The Gainesville National Bank in Gainesville Garland........................The State National Bank of Garland Gonzales ................ .......................Gonzales State Bank __ _____________ The Graham National Bank Graham Hallettsville................ ...... .......... ...........First National Bank Hamilton.......................................... Hamilton National Bank Hillsboro.............. The Citizens National Bank of Hillsboro Hondo............ ..............................The Hondo National Bank Houston........... ..............Fidelity Bank and Trust Company Houston.............................. ........ .............Heights State Bank Huntsville........................First National Bank of Huntsville Jacksonville........ The First National Bank of Jacksonville Kilgore......................Citizens State Bank & Trust Company Laredo —..............................Union National Bank of Laredo Mexia________________ __First National Bank of Mexia Mount Pleasant.............................. The First National Bank in Mount Pleasant New Braunfels The First National Bank of New Braunfels Palestine ...........................................Royall National Bank P am pa.-............................... First National Bank in Pampa Panhandle......................First National Bank of Panhandle Pleasanton........ .............First National Bank in Pleasanton Seguin..........................Seguin State Bank & Trust Company Sonora....................... .......................... -F irst National Bank Sweetwater____ _______ __National Bank of Sweetwater Taylor ........................................ The City National Bank Taylor. .....................................First-Taylor National Bank Teague........... ....................... First National Bank of Teague Terrell....................The American National Bank of Terrell Vernon...................... ....................... Herring National Bank Wharton ............ ..........Security Bank and Trust Company Winnsboro.............. The First National Bank of Winnsboro NOM INEE FOR C LA SS B DIRECTOR W. P. BEALL President and General Manager 3 Beall Brothers 3 Department Stores Jacksonville, Texas Mr. Beall was born at Oak Hill near Henderson, Rusk County, Texas, February 14, 1889, and attended rural schools in th at county. In 1910 he moved to Henderson, Texas, and accepted a position with Mayfield-Alford Com pany Department Store, where he served 13 years, advanc ing to the position of buyer and merchandise manager of various departments. In 1923 Mr. Beall and his two brothers opened their first store under the firm name of 3 Beall Brothers 3, which later became widely known throughout the State. In 1930 the company was incorporated, and Mr. Beall was elected President and General Manager, in which capacity he con tinues to serve. The company has 25 department stores, all of which have been opened out of earnings. He is also President and founder of the W. F. Beall Company, which operates 8 stores in Louisiana. He is a past vice president of the National Retail Dry Goods Association. Mr. Beall is still a farm er at heart, having a ranch interest in Cherokee County and being a breeder of fine Aberdeen-Angus cattle. He also has substantial oil and gas holdings in east Texas. His many business activities have afforded him continu ous contact with the problems of farmers, retailers, and manufacturers in the area. Nominated by the Following Banks in Group 3: Oklahoma Antlers.................................First National Bank at Antlers Colbert..........................— .................... First National Bank Madill............................. The F irst National Bank in Madill Texas Anna................. ..... ..........— ............... First National Bank Bailey..................................... First National Bank of Bailey Bells----------First National Bank B re n h a m ........... The Farmers National Bank in Brenham Cooper....................... ........ First National Bank in Cooper Cushing............................... First National Bank of Cushing Eagle Lake First National Bank Eastland .........................................Eastland National Bank Farmersville---------- First National Bank at Farmersville Ferris Farmers and Merchants State Bank of Ferris, Texas Honey Grove.............. First National Bank in Honey Grove Jefferson------- ---------The First National Bank of Jefferson Kerrville ................. .................................. First State Bank Mart............ ....... Farmers & Merchants National Bank Mart ..... First National Bank Ralls........ ........ Security State Bank & Trust Company Rockwall ........................................... The First State Bank Rosebud ---- ----------- -------Planters National Bank Rusk .......................Farmers and Merchants State Bank Seagraves........... The First National Bank in Seagraves Taft..... ................................... The First State Bank of Taft Trent.............................. ..... .................... Home State Bank Whitesboro........... Security National Bank of Whitesboro Whitewright......The First National Bank of Whitewright Winters............................................ The Winters State Bank
@FedFRASER