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federal Reserve ban k of Da ll a s D A L L A S ,T E X A S June 4, 1956 To All Banks of the Eleventh Federal Reserve District: This is to advise that the Montrose National Bank of Houston, Houston, Texas, a newly organized institution located in the territory served by the Houston Branch of the Federal Reserve Bank of Dallas, opened for business June 2, 1956, as a member of the Federal Reserve System. The new member bank has capital of $500,000, surplus of $300,000, and undivided profits of $200,000. Its officers and directors are as follows: OFFICERS L. E. Cowling, President and Chairman of the Board George R. Traylor, Executive Vice President Joseph N. Mullan, Vice President M. H. Sorrell, Vice President Richard M. Cobb, Cashier B. E. Sweeton, Jr., Assistant Cashier DIRECTORS Louis Kaplan Joseph N. Mullan C. E. Richards M. H. Sorrell E. G. Spencer Felix J. Tijerina George R. Traylor Dr. Sheldon M. Tucker Sam H. White George F. Bellows Dr. John J. Bunting G. W. Butler John B. Carter, Jr. L. E. Cowling J. S. Dugan Dr. David Greer Hyman E. Finger Mrs. Midge Pearce Hill N. D. Jamail The combined A .B .A . transit and routing symbol number of the new bank is 35-107. 1131 Yours very truly, Watrous H. Irons President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) Ctnjwwvdnc^ th e OPENING FOR BUSINESS on SA TURD A Y, JU N E 2, 1956 of the MONTROSE NATIONAL BANK o f Houston 3 4 0 0 Montrose Blvd. Opening Day Hours 9 :0 0 A.M. to 6 :0 0 P.M. 7* Ocvi *p,Ue*ul&: The officers, directors and stockholders take pleasure in announcing that the Montrose National Bank of Houston will open for business June 2, 1956. Every effort has been made to provide complete banking facilities for the peo ple of Houston. We welcome the business of individuals, firms and corporations, which we are well equipped to serve. Every customer of the bank will be assured prompt and courteous attention. Your visit will be sincerely appreciated, and we look forward to serving you. T h e M ontrose N ational Bank OF HOUSTON Member o f tbt FEDERAL RESERVE SYSTEM FEDERAL DEPOSIT INSURANCE CORPORATION Paid in CAPITAL STRUCTURE of Capital $ 5 0 0 ,0 0 0 Surplus $ 3 0 0 ,0 0 0 Undivided Profits $ 2 0 0 ,0 0 0 L. E. C owling , 'President and Chairman of the Board G eorge R. T raylor, Executive Vice President J oseph N. M ullan , Vice President R ichard M. Cobb, Cashier M. H. Sorrell, Vice President B. E. Sweeton , J r., Asst. Cashier G eorge F. Bellows D r. J ohn J. Bunting G. W. Butler J ohn B. C arter, J r. L. E. C owling J. S. D ugan D r. D avid Greer H yman E. Finger Mrs. Midge Pearce H ill N. D. J amail Louis Kaplan J oseph N. Mullan Sam H. W hite C. E. R ichards M. H. Sorrell E. G. Spencer Felix J. T ijerina G eorge R. T raylor D r. Sheldon M. T ucker @un OndiUution 'Will Hiidplay. ^Uib It means that our bank is a stockholder of the Federal Reserve Bank of Dallas. The Federal Reserve System, which is the central banking organization of this country, was created by Congress in the public interest. Its broad purpose is to help maintain business, industrial, and agricultural stability in so far as that is possible by safeguarding the supply, cost, and uses of money and credit. Our bank joins forces with the other member banks in the Federal Reserve System to contribute its part in advancing these aims. The Federal Reserve banks often have been referred to as "bankers’ banks” because they furnish commercial banks very much the same types of service which commercial banks supply to their customers. As a member of the Federal Reserve System our bank obtains direct access to the System’s facilities and resources as they may be required to finance and serve the banking and business needs of our community in a sound manner. State banks may join the Federal Reserve System if they desire by complying with the requirements of membership. Banks which are members of the System hold, in the aggregate, about 85 per cent of the total commercial banking resources of the country. MONTROSE NATIONAL BANK H O U STO N , TEXAS