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F ederal

reserve

Bank

O F DALLAS

Dallas, Texas, November 7,1947

N O M IN AT IO N A N D E LE C TIO N OF DIRECTORS
(B y Member Banks in Groups 2 and 3)

The member banks in Group 1 will not participate in this election, and this circular is
sent to them without forms for their information only.

To the Member Banks o f 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, 1947, in regard to the election of directors of this bank
to succeed Mr. J. E. Woods, Class A director, and Mr. W. F. Beall, Class B director, whose
terms will expire December 31, 1947, there are listed in this circular the names of the
individuals nominated, together with the names of 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.
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 September 30, 1947, or subsequently changed by a certified authori­
zation. 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 10, 1947, and close at 2:00 p.m. on November 25,
1947. Consequently,.your ballot must be received here not later than 2:00 p.m., Novem­
ber 25, 1947, 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 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 September 30, 1947, 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’
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 (which
procedure is uniform throughout the entire Federal Reserve System), 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
chairman 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 nominated 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 ail 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 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 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 having capital and surplus in excess of $499,000; Group 2 consists of banks with capital and
surplus not exceeding $499,000 and not less than $100,000; and Group 3 consists of banks having capital
and surplus of less than $100,000.
Please forward your ballot so that it will reach this office on or before 2 :00 p.m., November 25, 1947.
If the ballot is received after that time, it cannot be counted.

N O M IN E E S F O R C L A S S A D IR E C T O R

J. 0. GILLHAM

W. L. PETERSON

President, Brownfield State Bank

President, State National Bank of Denison

Brownfield, Texas

Denison, Texas

Mr. Gillham was born at Greenville, Hunt County, Texas,
on October 7, 1899. He spent his boyhood in Hunt County,
moving with his parents to Swisher County, Texas, in 1915.
He attended West Texas State Teachers College at Canyon,
Texas, and, in 1918, graduated from Tyler Commercial Col­
lege at Tyler, Texas. Upon graduation, he accepted a posi­
tion as bookkeeper at the Greenville National Exchange
Bank, Greenville, Texas. Later he returned to West Texas
serving as cashier of the First State Bank, Happy, Texas,
and later as Assistant Cashier of the First National Bank,
Canyon, Texas. In the early 1920’s he was associated with
the First National Bank of Plainview, Texas, for several
years, and in 1926 moved to Pampa, Texas, where he became
Assistant Cashier of the First National Bank, which posi­
tion he held until 1936 when he moved to Brownfield, Texas,
and assumed the active management of the Brownfield State
Bank of that city.

Mr. Peterson was born 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, and 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 be­
come 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 approximetely 80
insolvent State banks. In 1923 he was appointed Deputy
Banking Commissioner of Texas, which position he resigned
in 1924 to assume the active management of the State Na­
tional Bank of Denison.

Mr. Gillham was elected president of the Brownfield State
Bank in 1944. He is also serving as Chairman of the Board
of the Levelland State Bank, Levelland, Texas, and as
Chairman of the Board of the Lovington National Bank,
Lovington, New Mexico.

Mr. Peterson is President of the First National Bank,
Antlers, Oklahoma; President of the North Texas Loan &
Trust Company, Denison, Texas; Director of Waples-Platter Company, a large wholesale grocery concern with head­
quarters in Fort Worth, Texas. He is President of the
Denison School Board and is a member of the President’s
Advisory Board of Southern Methodist University.

Mr. Gillham has participated actively in the community
life of the cities in which he has resided. He has served as
vice president of the Lions Club at Pampa; Chairman of
the Board of Stewards of the First Methodist Church of
Pampa and also Chairman of the Board of Stewards in
Brownfield. He is also a past president of the Rotary Club
of Brownfield. In 1943-44 Mr. Gillham served as President
of the Texas Bankers Association and is also a past presi­
dent of the South Plains Banker’s Association and of the
Panhandle Bankers Association.

Throughout World War II he served as District Chairman
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 Board of
Stewards of Waples-Memorial Methodist Church of Deni­
son ; 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:
Louisiana
Nominated by the Following Banks in Group 2:

Minden............... .............. Minden Bank & Trust Company
New Mexico

Texas
Abilene

The Farmers & Merchants National Bank
of Abilene
Brownfield ..............................
Brownfield State Bank
Canadian ............... The First National Bank of Canadian
Eastland ....................................... Eastland National Bank
Graham
................ The Graham National Bank
Hughes Springs
First National Bank
Lamesa
The First National Bank of Lamesa
Levelland
........ The First National Bank of Levelland
Levelland......................... ....... .......Levelland State Bank
Mount Pleasant
The First National Bank in Mount
Pleasant
Sonora
First National Bank
Spearman ..................
First State Bank
Tulia........
............ The First National Bank of Tulia
Vernon ........... The Waggoner National Bank of Vernon
Weatherford.............. First National Bank of Weatherford

Artesia......................... The First National Bank of Artesia
Clovis
_____ ____ ____________ The Clovis National Bank
Roswell.......................The First National Bank of Roswell
Oklahoma
Durant......... .....
The Durant National Bank in Durant
Durant........................... The First National Bank in Durant
Hugo
.......................... .......The Citizens State Bank
Idabel____ ________________ ______ Idabel National Bank
Madill............................. The First National Bank in Madill
Madill
........................................ Madill National Bank
Texas
Albany
The First National Bank of Albany
Anson______
___ The First National Bank of Anson
Atlanta........ ........................... ..........Atlanta National Bank
Ballinger
...........
.... .......... First National Bank
Bay City
........Bay City Bank & Trust Company
Bay C ity........... .................
First National Bank
Beaumont.....Security State Bank and Trust Company of
Beaumont
Belton _ .....
_
The First National Bank in Belton
Bonham
............. The First National Bank of Bonham
Borger
..............
................. Panhandle State Bank
(Nominations for Mr. Peterson continued on next page)

N O M IN E E S F O R C L A S S A D IR E C T O R
(Nominations for Mr. Peterson continued)
Bowie............................. The First National Bank of Bowie
B rady.................The Commercial National Bank of Brady
Brenham ______ The Farmers National Bank in Brenham
Brenham____ ______ The First National Bank of Brenham
Bryan......................................First National Bank of Bryan
Clarksville............Red River National Bank in Clarksville
Cleburne .......................... City National Bank of Cleburne
Corsicana ........................State National Bank of Corsicana.
Dawson_____ ___-.... The First National Bank of Dawson
Decatur................ .......The First National Bank in Decatur
DeLeon.......... ...... Farmers & Merchants National Bank
Denton_____ The Denton County National Bank of Denton
Dublin_____________ _____ ___ The Dublin National Bank
Eagle Lake........... ................................ First National Bank
Eagle Pass .........The First National Bank of Eagle Pass
El Campo_________ The First National Bank of El Campo
Elgin.................
Elgin National Bank
Gainesville The Gainesville National Bank in Gainesville
Gilmer.........................
First National Bank
Goose Creek... Citizens National Bank & Trust Company of
Goose Creek
G ran b u ry...............The First National Bank of Granbury
Greenville_____ The Citizens National Bank of Greenville
Hallettsville.............................
First National Bank
Hamilton........................................ Hamilton National Bank
Harlingen___ _____ The First National Bank of Harlingen
Haskell...........................
Haskell National Bank
Honey Grove.............. First National Bank in Honey Grove
Houston_____ _____ __________ Hampton Oaks State Bank
Huntsville.............. ....... First National Bank of Huntsville
Itasca............. .................................... First National Bank
Jacksonville.......... The First National Bank of Jacksonville
Kaufman_______ Farmers & Merchants National Bank of
Kaufman
Kilgore........ .............................. The Kilgore National Bank
Laredo________ _____
Union National Bank of Laredo
Llano___ ________ _____ ______________Moore State Bank
Lufkin_____ _____ The First State Bank & Trust Company
Lufkin_____________ _________ The Lufkin National Bank
Marlin............................................... Marlin National Bank

Mart.............. ....... ..... Farmers & Merchants National Bank
Mart.......................... ..........................First National Bank
Mercedes _ _______The First National Bank of Mercedes
_
Merkel_____________ Farmers & Merchants National Bank
Mexia........................... .........First National Bank of Mexia
Mineral W ells___________ __ _______ City National Bank
New Braunfels ..The First National Bank of New Braunfels
Olney.............................. The First National Bank of Olney
Ozona
................................. ....... Ozona National Bank
Paducah.................. .............. ....... ....... First National Bank
Palestine............................... ..... East Texas National Bank
Palestine_____ ___
First National Bank
Palestine______ _____________ ,....... Royall National Bank
P aris............................ The Liberty National Bank in Paris
Pilot Point................................... Pilot Point National Bank
Richmond..............
First National Bank
Rosebud...............
Planters National Bank
Seguin.......................Seguin State Bank & Trust Company
Sulphur Springs .............. .................... City National Bank
Sulphur Springs____________ Sulphur Springs State Bank
Taylor............................................. The City National Bank
Taylor............. ...... ................... First-Taylor National Bank
Teague___ ____ _________ First National Bank of Teague
Temple................................................ Temple National Bank
Terrell________ The American National Bank of Terrell
Texas City________The Texas City National Bank of
Texas City
Van Alstyne................ ............. .......... First National Bank
Waxahachie_______Citizens National Bank in Waxahachie
Weatherford ...The Citizens National Bank of Weatherford
Weatherford...... The Merchants and Farmers State Bank
of Weatherford
Weslaco.................. ..... The First National Bank of Weslaco
W e s t................. .... .......................The West National Bank
Wharton.................
Wharton Bank and Trust Company
Whitewright___ The First National Bank of Whitewright
Wills Point .......The First National Bank of Wills Point
Winnsboro___ ___ The First National Bank of Winnsboro
Winters
____________ _______The Winters State Bank
Yoakum.................................... The Yoakum National Bank

NOMINEE FOR CLASS B DIRECTOR
W. F. BEALL

“

Nominated by the Following Banks in Group 3:

President and General Manager
3 Beall Brothers 3
Department Stores
Jacksonville, Texas

New Mexico

Mr. Beall was born at Oak Hill near Henderson, Rusk
County, Texas, February 14, 1889, and attended rural
schools in that 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 eastern part of the
State. In 1930 the company was incorporated, and Mr. Beall
was elected President and General Manager, in which
capacity he continues to serve. The Company operates 16
department stores, all of which have been opened out of
earnings. He is a past vice president of the National Re­
tail Dry Goods Association.
Mr. Beall is still a farmer at heart, having a 1,700 acre
ranch in Panola County, and being a breeder of fine Brah­
man 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.

Hagerman_____ ___

First National Bank
Oklahoma

Colbert.................................................. First National Bank
Texas
Alto......j.............................
ContinentalStateBank
Bailey............................................
FirstNationalBank
Caddo Mills................................
StateNationalBank
Cushing............................. First National Bank of Cushing
Gatesville_____________ Guaranty Bank & Trust Company
Kerrville ____________ _________ __ ___ First State Bank
Killeen.....................................
FirstNationalBank
New Boston___ __ The First National Bank of New Boston
Premont.......... — .... ............................. First State Bank
Shamrock .. Farmers & Merchants State Bank of Shamrock
Whitesboro........ Security National Bank of Whitesboro
Yorktown............................... First State Bank of Yorktown

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