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F ederal Reserve Bank
OF DALLAS

Dallas, Texas, November 2, 1956

N O M IN A T IO N A N D ELECTION OF DIRECTORS
(By Member Banks in Groups 2 and 3)

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

To the M e m b e r B a n k s in G rou p s 2 a n d 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 26, 1956, in regard to the election of directors of this bank to succeed Mr. W . L. Peterson, Class
A director, and Mr. John R. Alford, Class B director, whose terms will expire December 31, 1956, there are
listed in this circular the names of the individuals nominated, together with the names of the banks nominat­
ing them.
Accompanying this circular is a ballot upon which you should record your vote, together with the neces­
sary 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 26,
1956, or subsequently changed by a certified authorization. If you so desire, you may change your authoriza­
tion 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, 1956, and close at 2:00 P.M. on November 20, 1956. Conse­
quently, your ballot must be received here not later than 2:00 P.M., November 20, 1956, 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 envelopes at your earliest convenience after the opening of the polls.
Yours very truly,
ROBERT J. SMITH
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 P O R T A N T

Please read carefully the instructions herein contained a n d 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.
M y circular letter of September 26, 1956, 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, 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 d a y s after receipt of the list of candidates the d uly authorized officer of a m em ber
b a n k shall certify to the chairm an his first, second, a n d other choices for director of class A a n d class B,
respectively, upon a preferential ballot upon a form furnished b y the chairm an of the board o f direc­
tors of the Federal reserve b a n k of the district. Each such officer shall m ak e a cross opposite the nam e
of the first, second, a n d other choices for a director of class A a n d for a director of class B, but shall
not vote m ore than one choice for a n y one candidate. N o officer or director of a m em ber b a n k shall be
eligible to serve a s a class A director unless nom inated an d elected b y b a n k s w hich are m em bers of
the sa m e gro u p a s the m em ber b a n k of w hich he is an officer or director.
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“A n y candidate h a vin g a majority of all votes cast in the colum n of first choice shall be declared
elected. If no candidate have a m ajority of all the votes in the first column, then there shall be ad d ed
together the votes cast b y the electors for such candidates in the second colum n a n d the votes cast
for the several candidates in the first column. The candidate then h a v in g a m ajority of the electors
voting a n d the highest num ber of com bined votes shall be declared elected. If no candidate have
a m ajority of electors votin g a n d the highest num ber of votes w h e n the first an d second choices shall
have been added, then the votes cast in the third colum n for other choices shall be ad d e d together
in like m anner, a n d the candidate then h avin g the highest num ber of votes shall be declared elected.
A n im m ediate report of election sh all be declared.
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“ . . . w henever a n y tw o or more m em ber b an ks, within the sam e Federal reserve district are affiliated
w ith the sam e h old in g com pa ny affiliate, participation b y such m em ber b a n k s in a n y such nom ination
or election shall be confined to one of such b an ks, w hich m a y be d esign ated for the purpose b y such
hold ing com pa ny 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 $1,200,000 and over; Group 2 consists of banks with capital and surplus of over $200,000 and less than $1,200,000;
and Group 3 consists of banks with capital and surplus of $200 ,000 and less.
Please forward your ballot so that it will reach this office on or before 2:00 P.M., November 20, 1956. If the
ballot is received after that time, it cannot be counted.

N O M INEES FOR CLASS A DIRECTOR
L A M A R F O LD A
Chairman of the Board of Directors
The Mercantile National Bank of Corpus Christi
Corpus Christi, Texas
Mr. Folda was born in the State of Nebraska in 1898
and has resided in Nueces County, Texas, since 1919. He
was educated in the public schools of Nebraska and
graduated from the University of Nebraska with a B.S.
degree. During W orld W a r I, he served with the military
forces of the United States Army.
In addition to being Chairman of the Board of Directors
of The Mercantile National Bank of Corpus Christi, Mr.
Folda is Secretary-Treasurer and General M anager of the
National Farm Loan Association of Corpus Christi; Presi­
dent and director of the South Texas Co-op Marketing
Association and of the Gulf Compress, Corpus Christi;

J O H N M . GRIFFITH
President
The City National Bank of Taylor
Taylor, Texas
Mr. Griffith was born in Bonham, Texas, on July 27,
1903, though he has been a resident of Taylor, Texas,
most of his life. He grew up in his father's bank, doing odd
jobs around the place before and after school in Taylor
and during vacation periods of college days. He attended
Virginia Military Institute at Lexington, Virginia, and in
1924 he completed his college education at Southern
Methodist University, Dallas, Texas, with a degree in
banking.
Upon his graduation from college, Mr. Griffith began
his banking career in The City National Bank of Taylor,
Taylor, Texas, being elected Assistant Cashier in 1925,
Vice President and Cashier in 1927, and President — the
position which he still holds — in 1940. In 1943 he was
elected First Vice President of The City National Bank of
Houston, Houston, Texas, and served in that capacity until
1948, when he returned to Taylor to devote his full time
to the management of The City National Bank of Taylor.
Mr. Griffith is Chairman of the Board of the Farmers
State Bank in Bertram, Burnet County, Texas, and of the
Taylor Manufacturing Company, Taylor, Texas; is Presi­
dent of the Taylor Savings and Loan Association; and is a
member of the Executive Council of the American Bankers
Association. He was a member of the Association of
Reserve City Bankers while active with The City National
Bank of Houston. During 1954-55, he served as President
of the Texas Bankers Association; and in his community,
he has served as President of the Chamber of Commerce,
the Kiwanis Club, and the Taylor Country Club. He is a
director of the Taylor Agricultural and Industrial Founda­
tion and of the Pop W arner Foundation of Lakeland,
Florida. Mr. Griffith is a M ason and a Shriner and is a
Vestryman of St. James Episcopal Church of Taylor. He

director and Secretary of the Texas Planting Seed Asso­
ciation, Bryan, Texas, and of the Nueces County Farm
Bureau; and a director of the Cen-Tex Co-op Oil Mill,
Thorndale, Texas. Mr. Folda was formerly a director of
the Rural Fire Insurance Company and Rural Life Insurance
Company, Dallas, Texas.
Mr. Folda is active on many agricultural committees to
promote better agricultural operations and relations. In
Nueces County, he owns and operates 60 0 acres of farm
land, and he rents an additional 890 acres in Nueces and
Hidalgo Counties.
He is a member of the Downtown Kiwanis Club of C or­
pus Christi and of the Nueces County Farm Bureau.
N om inated b y the Follow in g B a n k in G roup 2:
TEXAS
Corpus Christi............The Mercantile National Bank of Corpus Christi

has been active in the civic life of Taylor throughout his
career.
N om inated b y the Follow in g B a n k s in G roup 2:
TEXAS
Albany...................................... The First National Bank of Albany
Austin..............................................City National Bank of Austin
Austin............................................................... Texas State Bank
Beaumont........... Security State Bank and Trust Company of Beaumont
Brenham................................. The First National Bank of Brenham
Brenham........................................Washington County State Bank
Del Rio....................................................... Del Rio National Bank
Denison.............................. The Citizens National Bank of Denison
Denison.....................................The State National Bank of Denison
Dumas.............................................. First National Bank of Dumas
Edna.................................................. First National Bank of Edna
Greenville........................ The Citizens National Bank of Greenville
Harlingen.............................. The First National Bank of Harlingen
Henderson.............................. Citizens National Bank of Henderson
Hereford................................. The First National Bank of Hereford
Houston...................................... Fidelity Bank and Trust Company
Houston........................... The Harrisburg National Bank of Houston
Houston.........................................................Heights State Bank
Houston.................................................... South Main State Bank
Kilgore................................. Citizens State Bank & Trust Company
Laredo...........................................Union National Bank of Laredo
Lubbock.......................................................American State Bank
McAllen.......................................................McAllen State Bank
M exia................................................. First National Bank of Mexia
Mineral Wells.....................The First National Bank in Mineral Wells
Palestine........................... The East Texas National Bank of Palestine
Palestine.............................. The Royal! National Bank of Palestine
Seguin...........................................Seguin State Bank & Trust Co.
Snyder............... ....................................... Snyder National Bank
Sonora...................................... The First National Bank of Sonora
Taylor.................................................. First-Taylor National Bank
Teague............................................ First National Bank of Teague
Temple......................................................Temple National Bank
Vernon................................. The Herring National Bank of Vernon
Waxahachie......................... Citizens National Bank in Waxahachie
Weatherford..... The Merchants and Farmers State Bank of Weatherford

N O M IN EE FOR CLASS B DIRECTOR
J O H N R. A LF O R D
Industrialist and Farmer

Throughout his business career, Mr. Alford has been ac­
tive in civic enterprises, not only in the section where he
resides but also throughout the State of Texas.

Henderson, Texas

Nom inated b y the Follow in g B a n k s in G roup 3:
LO U ISIA N A

Mr. Alford was born at Overton, Rusk County, Texas,
on February 1, 1885. Five years later his family moved to
Henderson, Texas, where he has lived continuously since
that time.
He began his business career in 1907 as a bank book­
keeper but left that position in 1911 to become a sales­
man for the Harris-Lipsitz Dry G oods Company, Dallas,
Texas. Later, he was a clerk, cotton buyer, and assistant
manager, successively, of Irion and Alford and a sales­
man for and the manager of the Mayfield Alford Com­
pany, pioneer east Texas merchants. In 1925 he entered
the oil business and has maintained his interest since that
time. He also has an active connection with several busi­
ness enterprises and operates a 400-acre farm and dairy
near Henderson. For many years he has been active in
promoting soil and water conservation, reforestation, the
growing of new crops, development of trench silos, pas­
ture improvement, and other farm practices.
Mr. Alford is a director of the Texas Finance Company,
Tex-E-Lec Corporation, M aco Oil Company, Henderson
Clay Products, Southwest Tank and Treater Company,
Henderson, Texas; Texas Research Foundation, Renner,
Texas; Texas Good Roads Association; and Board of
Fundamental Education. He is a member of the Board of
Stewards of the Methodist Church, Henderson, Texas, and
of the Advisory Board of Southern Methodist University.
He is a member of the W .O .W . and K.P. Lodges, the Lions
Club, and the American Jersey Cattle Association.
Through the efforts of Mr. Alford and other agricultural
leaders in Rusk County, a branch test plot of the Texas Re­
search Foundation was established in 1955 one mile south
of Henderson. All of the crops tested at Renner are dupli­
cated at the substation. This substation is the only test
plot established in east Texas and is proving of great help
to farmers in the selection of their new crops.
He is a past Chairman of the Board of Directors of the
Citizens National Bank, Henderson, Texas, and a former
director of the Henderson Chamber of Commerce. He was
President of the East Texas Chamber of Commerce in
1946.

Delhi...........................................The First National Bank of Delhi

O KLAHO M A
Atoka.........................................................The Atoka State Bank
Hugo.................................... Security First National Bank of Hugo

TEXAS
Anna...........................................The First National Bank of Anna
Athens....................................... The First National Bank of Athens
Brenham.............................. The Farmers National Bank in Brenham
Bryan......................................... The First National Bank of Bryan
Byers.......................................... The First National Bank of Byers
Chillicothe.............................. The First National Bank of Chillicothe
Clifton.......................................................... Farmers State Bank
Daingerfield.............................. The National Bank of Daingerfield
Dawson.................................... The First National Bank of Dawson
DeKalb....................................................... State Bank of DeKalb
Dublin................................................. The Dublin National Bank
Eagle Lake.............................. The First National Bank of Eagle Lake
Gatesville..................................... Guaranty Bank & Trust Company
Graham...............................................The Graham National Bank
Honey Grove.............................. First National Bank in Honey Grove
Kaufman........... The Farmers & Merchants National Bank of Kaufman
Knox City.................................................The Citizens State Bank
Leonard...............................................The Leonard National Bank
Mart............................................ The First National Bank of Mart
Moody......................................... The First National Bank of Moody
Palestine................................. The First National Bank of Palestine
Pittsburg............................................................First State Bank
Ralls.................................... Security State Bank & Trust Company
Rosebud.............................. The Planters National Bank of Rosebud
Royse City................................................... Citizens State Bank
Seagraves.............................. The First National Bank in Seagraves
Sudan.......................................... The First National Bank of Sudan
Taft.................................................... The First State Bank of Taft
Wills Point............................ The First National Bank of Wills Point
Winnsboro............................ The First National Bank of Winnsboro
Winters.................................................... The Winters State Bank

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