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F e d e r a l Re s e r v e Ba n k
OF

DALLAS

Dallas, Texas, October 26, 1961

N O M IN A TIO N S FOR DIRECTORS
To the Member Banks in the
Eleventh Federal Reserve District:
In accordance with the provisions of Section 4 of the Federal Reserve Act and my circular dated September
20, 1961, in regard to the election of directors of this Bank to succeed Mr. J. Edd McLaughlin, Class A Director,
and Mr. H. B. Zachry, Class B Director, whose terms expire December 31, 1961, there are given herein the names
of the candidates nominated for such directors and the names of the banks which made the nominations.
There is sent herewith to each bank in Group 1 a preferential ballot for use in voting for a Class B Director
and to each bank in Group 3 a preferential ballot for use in voting for a Class A Director. An envelope bearing
on its face the certificate in regard to the vote and a colored envelope marked “Ballot'— Directors’ Election,” in
which the ballot is to be sealed, are also enclosed.
The ballot and certificate on the envelope must be executed by an officer who has been authorized to cast the
vote. A list of the designated officers is set out in the “ Election of Directors" circular dated September 20, 1961.
In order that the balloting may be secret, the name of the bank and of the voting officer should not be written on
the ballot but only on the certificate envelope.
Please follow carefully the instructions which are printed on the ballot, on the envelopes, and on the inside
page of this circular.
The following procedure is required in the case of both the Class A and Class B ballots:

(1) The preferential ballot should be marked.
(2) It should then be placed in the colored envelope marked “Ballot — Directors’ Election’’ and
the envelope sealed.
(3) Then after the certificate on the certificate envelope is executed the colored sealed envelope
should be placed within the certificate envelope and that envelope sealed.
(4) The sealed certificate envelope containing the sealed ballot envelope should then be returned
to me in the enclosed self-addressed envelope.
Under the law, the ballot must be returned so as to reach me within 15 days after its receipt. The polls will
open on October 30, 1961, and close at 2 p.m. on November 14, 1961. At that time the ballot box will be
opened at this Bank, the sealed envelopes containing the ballots will be opened, the votes counted, and the
results of the election announced. The candidates are invited to be present or represented on that occasion.
W hile the banks in Group 2 will not vote in this election, this circular is sent to them, without forms, for their
information.
Very truly yours,

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

For your information, there is quoted below an extract from Section 4 of the Federal Reserve Act which sets forth
the method of balloting:

“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."
Where there are four candidates involved, a member bank, in making its first, second, and third choices, will be
deemed to have indicated the other candidate as its fourth choice.

CANDIDATES FOR CLASS A DIRECTOR

j. e d d M cLa u g h l i n
President
Security State Bank & Trust Company
Ralls, Texas
Mr. McLaughlin was born on a farm in Childress County,
later moving with his parents in 1905 to Crosby County,
where he has resided continuously since that date. He
was educated in the public schools of Texas, the West
Texas State College in Canyon, and the BrantleyDraughon’s Business College of Fort Worth. Upon leaving
school in 1912, he was placed in charge of the private
institution “W . E. McLaughlin Banker,” founded by his
father in that year and later incorporated as the Security
State Bank & Trust Company, Ralls, Texas. He has served
as an officer and director of that institution since its found­
ing and is now its President. He is joint proprietor and
executive of “The McLaughlins,” land holdings and invest­
ments, and owns and operates extensive farming and other
properties.
At the present time Mr. McLaughlin is a director of the
Central American Life Insurance Company, Lubbock, Texas;
a director of Texas Technological College, Lubbock, Texas;
a director of the Texas United Fund; and is Chairman of
the Crosby County S a v in g s Bond Committee. He is a
member of the Advisory Council of of the Southwest M ed i­
cal Foundation, Advisory Board of the Texas Industrial
Commission,-and of the Executive Council and National
Council member from the South Plains Area of the Boy
Scouts of America, from which he is the recipient of the
Silver Beaver Award.
Mr. McLaughlin recently concluded a one-year term as
President of Rotary International. He also has served as
President of the Caprock Bankers Association, South Plains

Bankers Association, Ralls Chamber of Commerce, and
Ralls Rotary Club; as Chairman of the Seventh District,
Treasurer and member of the Executive Committee of the
Texas Bankers Association; as District Chairman of the
American Cancer Society; and as Trustee of the First
Methodist Church of Ralls.

Nominated by the Following Banks in Group 3:
LO U ISIAN A
D e lh i......... ..........................................The First N a tio n a l Bank of D elhi

N E W M EXICO
M e lr o s e .......................................... The First N a tio n a l B a n k of M e lro se

O K LA H O M A
A n tle rs....................................................... First N a tio n a l B a n k at A ntlers
A t o k a ............... ....................................................The A to k a State Bank
C olbe rt............................................ The First N a tio n a l B a n k o f C olbert

TEXAS
A n n a ................................................. The First N a tio n a l B ank o f A n n a
A sp e rm o n t.................................. The First N a tio n a l B ank o f A sp e rm on t
B a ird ................................................... The First N a tio n a l B a n k of Baird
B a llin g e r........................................ The First N a tio n a l B a n k of B a llin ge r
B ellville.......................................... The First N a tio n a l B ank o f Bellville
Belton.............................................. The First N a tio n a l B ank in Belton
B rid ge p o rt................................. The First N a tio n a l B a n k o f B rid gep o rt
C la u d e ...............................................The First N a tio n a l B a n k of C la u d e
Clifton ...... .............................................Farm ers State B an k o f Clifton
C o m a n c h e ........................................ State N a tio n a l B a n k in C om a nche
C r o s b y t o n ............... ................... C itizen s N a tio n a l B ank o f C ro sb y lo n
D a in g e r fie ld ......................................The N a tio n a l B a n k o f D a ingerfie ld
D e K a lb ................................................................State B a n k of D e K a lb
E a g le Lake................................. The First N a tio n a l Ban k o f E a g le Lake
Ferris...................... Farm ers a n d M e rcha n ts State B a n k o f Ferris, Texas
F orn ey....................................................................... F orney State B ank
G id d in g s ........................................ The First N a tio n a l Ban k o f G id d in g s
G ilm e r................... The Farm ers a n d M e rcha n ts N a tio n a l B a n k of Gilm er

H a m l in ................... The Farm ers & M e rc h an ts N a tio n a l B ank o f H am lin
H ills b o r o .............. ................... The C itizen s N a tio n a l B ank o f H illsb oro
H o n e y G r o v e ............................... First N a tio n a l B an k in H o n e y G ro v e
H o u sto n ....................................... N orth east N a tio n a l B an k o f H ouston
Kaufm an ............ The Farm ers & M e rchan ts N a tio n a l Bank of Ka u fm a n
L e o n a rd ...................... ............................... The Leonard N a tio n a l B ank
L on gview ............ ........................... East T exas B an k & Trust C o m p a n y
L u l in g ....... ....................................... The First N a tio n a l B onk in Luling
M a rt
.................... The Farm ers a n d M e rc h an ts N a tio n a l B ank o f M a rt
M e m p h is .......................................The First N a tio n a l B an k o f M e m p h is
M e x ia ........................ ........................... First N a tio n a l Ban k of M e x la
M o ra n .......................................................... The M o ra n N a tio n a l B ank
M o r t o n ........................................................................ First State Bank
N a v a s o t a ............... ............. ......The First N a tio n a l Ban k o f N a v a so ta
O z o n a ........................................................ The O z o n a N a tio n a l Bank
P a le st in e ......................................The First N a tio n a l B ank of Palestine
Q u a n a h ..................................... The Security N a tio n a l B an k o f Q u a n a h
R a ll s ................................ ........Security State B an k & Trust C o m p a n y
R ic h m o n d ...................................... The First N a tio n a l B on k of Richm ond
R otan................................................ The First N a tio n a l Bank of Rotan
R ule........................................ The Farm ers N a tio n a l B an k of Rule, T exas
S a in t Jo ............. .........................The First N a tio n a l Ban k o f S a in t Jo
S a n M a r c o s ................................. The First N a tio n a l Bank of S a n M a rco s
S e a g r a v e s .....................................The First N a tio n a l B an k in S e a g ra v e s
T a f t ...................... ......... .......................... The First State B ank of Taft
T e a g u e ................................................ First N a tio n a l B ank of T eague
W h it e s b o r o ............................... Security N a tio n a l B ank of W h ite sb o ro
W in n sb o r o .......................... . The First N a tio n a l Ban k o f W in n sb o r o
W o lfe C i t y .................... The W o lfe City N a tio n a l B ank in W o lfe City

J. D. RUCKMAN
President
The Karnes County National Bank of Karnes City
Karnes City, Texas
Mr. Ruckman was born December 27, 1896, in Helena,
Karnes County, Texas. In December of 1897, he moved
with his parents to Karnes City and has lived there since
that time. He was graduated from the Karnes City High
School in 1914, attended the San Marcos Baptist Academy
for one year and A. & M. College of Texas for two years.
On June 1, 1917, Mr. Ruckman started working in The
Karnes County National Bank of Karnes City, interrupting
his career for a six months’ service with the Texas Cavalry
as a First Lieutenant, and returning to work in that bank
in February of 1918. He was elected Vice President and
Director of that bank in 1931, and in 1951 was elected
President.
Besides his activities as President and a director of The
Karnes County National Bank of Karnes City, Mr. Ruckman
is a director of the following: The Federal Land Bank Asso­
ciation of Karnes City, Texas; The Southwestern Cattle
Raisers Association; The Alamo Quarter Horse Breeding
and Cutting Association; and The Karnes County Hospital
Association.
Mr. Ruckman is also a farmer, raising registered quarter
horses, Hereford and Santa Gertrudis cattle. He is a Mason
and a Shriner.
O n March 29, 1922, Mr. Ruckman m arried M a rie
Hoefner and they have two daughters, two grandsons, and
one granddaughter.

Nominated by the Following Bank in Group 3:
TEXAS
D aw son

The First N a tio n a l B ank o f D a w so n

DONALD M. SHERER
Executive Vice President
San Juan State Bank
San Juan, Texas
Mr. Sherer was born in Chase, Kansas, on November 30,
1914. In 1922, he moved with his family to Wellington,
Kansas. After completing his academic education in the
schools of Kansas, he became associated with his father
in the automobile, farm equipment, and farming business.
In 1937 Mr. Sherer moved to McAllen, Texas, to oversee
the citrus holdings of his family, and in 1941 became
associated with the City State Bank & Trust Company of
McAllen, now the First National Bank of McAllen.
During W orld W a r II, he was assigned to the Air Trans­
port Command, Engineering Section, and after the war, he
returned to the McAllen bank.
In 1949 he was chosen as Executive Vice President of
a new bank in San Juan, Texas, which was organized to
replace one which had been closed by the Banking
Department one month previously.
Mr. Sherer is the President of the Rio Grande Valley
Bankers Association; past President of the San Juan Cham­
ber of Commerce; past director of the Valley Chamber of
Commerce; and past President of the San Juan Methodist
Men. He has been the Superintendent of the Methodist
Sunday School in San Juan; a delegate to the Annual Con­
ference of the Methodist Church; and he is now a director
of the Hidalgo County Family Counseling Service and
teaches an adult Sunday School Class.
Mr. Sherer is active in civic affairs, having been Chairman
of fund drives for the Boy Scouts, Girl Scouts, Cancer S o ­
ciety, and Heart Association. He was co-sponsor of the
organization of the United Fund of San Juan. Mr. Sherer
is Treasurer of the San Juan Salvation Army Service Unit
and Financial Secretary of the San Juan Methodist Church.

Nominated by the Following Bank in Group 3:
TEXAS
M e rc e d e s........................................ The Firsi N a tio n a l B a n k o f M e rc e d e s

BENNIE SW ENSON
Vice President and Cashier
The First National Bank of Granbury
Granbury, Texas
Mr. Swenson was born January 20, 1907, and spent
his childhood in and around Cranfills Gap, Texas, where
he received his education.
He started his banking career with the Farmers State
Bank of Clifton, Texas, as a bookkeeper in 1939, and was
promoted to Assistant Cashier in 1942. Mr. Swenson was
called to serve his country in World W a r II in March of
1943. He served in the European Theatre of Operations
with the 24th Field Artillery Group and was discharged
in December 1945. After discharge, he again became A s­
sistant Cashier of the Farmers State Bank of Clifton, and
in April 1946, he became Cashier of the Farmers State
Bank of Meridian, Texas. In July 1949 he became Cashier

of The First National Bank of Granbury, Texas, where at
the present time he is Vice President and Cashier.
Mr. Swenson’s civic activities include the following: past
Treasurer of the Hood County Red Cross; Granbury Band
Booster Club; Director of Chamber of Commerce; and he
is now Treasurer of the Hood County Chapter of the N a ­
tional Foundation for Infantile Paralysis; member of Fi­

nance Committee of the Chamber of Commerce; and
Chairman of the Hood County Savings Bond Payroll
Division. He is a Lutheran.

Nominated by the Following Bank in Group 3:
TEXAS
G ron b ury.

The First N a tio n a l B a n k o f G ra n b u ry

CANDIDATE FOR CLASS B DIRECTOR

H. B. ZACHRY
President and Chairman of the Board
H. B. Zachry Company
San Antonio, Texas
Mr. Zachry was born in Uvalde, Texas, in 1901. He
received his degree in civil engineering from Texas A. & M.
College in 1922 and, shortly thereafter, formed the con­
struction firm of H. B. Zachry Company, which has
developed into one of the major construction companies
in the United States. He is a past president of the Associated
General Contractors of America and immediate past presi­
dent of the Board of Directors of Texas A. & M. College.
In addition to serving as President and Chairman of the
Board of H. B. Zachry Company, Mr. Zachry has organ­
ized and directs the following subsidiary and affiliated
companies: Alamo Aviation, Inc., Bexar Equipment Com­
pany, Francitas G as Company, Line Services, Inc., Produce
Market Building Corporation, Tower Life Building Corpo­
ration, Tower Life Insurance C om pany, W rig h t O il
Company, Zachry Industries, Zachry Minerals, Inc., H. B.
Zachry Properties, all of San Antonio, Texas; Herring-Price
Lumber Company and Rancho Blanco Corporation of La­
redo, Texas; and Capitol Aggregates, Inc., Austin, Texas.

Nominated by the Following Banks in Group 1:
LO U ISIA N A
M on roe........................... Central Savings Bank and Trust Company
Shreveport........................ Commercial National Bank in Shreveport

TEXAS
A b i l e n e ..................................... The C itizen s N a tio n a l B a n k in A b ile n e
A m a r illo ........................................ The First N a tio n a l B a n k of A m a rillo
A u s t i n ....................................... The A m e rica n N a tio n a l B ank of A ustin
A u s t in ........................................................... The A u stin N a tio n a l Bank
A u s t i n ........................................... The C a p ita l N a tio n a l B a n k in A ustin
Beaum ont..............................The A m e rica n N a tio n a l B ank of Beaum ont
B eaum ont.......................................The First N a tio n a l B a n k o f Beaum ont
C o rp u s C h risti................................... C o rp u s C hristi State N a tio n a l Bank
D a lla s ...................................................... First N a tio n a l B a n k in D a lla s
D a lla s ................................................M e rca ntile N a tio n a l Bank at D a lla s
D a l l a s .................................................Republic N a tio n a l B a n k of D a lla s
El P a so .............................................................. El Paso N a tio n a l Bank
El P a s o .......................................... The State N a tio n a l B a n k of El Paso
Fort W o rt h ................................... The First N a tio n a l B ank o f Fort W o rth
Fort W o r t h ............................................. The Fort W o rth N a tio n a l Ban k
G a lv e s t o n ..................First H u tch in g s-S e a ly N a tio n a l B ank of G alve ston
G a lv e sto n ................................... The M o o d y N a tio n a l Ban k of G alveston
H o u s t o n .............. B a n k o f the Southw est N a tio n a l A sso c ia tio n , H ouston
H o u sto n .................................................................. C itizen s State Ban k
H ouston ............................... .......... First C ity N a tio n a l B ank o f H ouston
H o u s t o n ................................................Houston B a n k & Trust C o m p a n y
H o u s t o n .............................The N a tio n a l B a n k of Com m erce o f H ouston
H o u s t o n .............................................T exas N a tio n a l B a n k of Houston
L u b b o c k .............................................First N a tio n a l B a n k at Lubbock
M i d l a n d .................................... ..... The First N a tio n a l Ban k of M id la n d
M i d l a n d .................................................... The M id la n d N a tio n a l Bank
Port A rth u r................................. The First N a tio n a l B a n k of Port Arthur
S a n A n t o n io ..............................The A la m o N a tio n a l B a n k o f S a n A n to n io
S a n A n t o n io ..................... B e xa r C o u n ty N a tio n a l B ank of S a n A n to n io
S a n A n t o n io .............................The Frost N a tio n a l B a n k of S a n A n to n io
S a n A n t o n io ....................... N a tio n a l B a n k o f Com m erce o f S a n A n to n io
T yle r................................................The Peoples N a tio n a l B a n k of Tyler
V ic to ria ............................... .........................The Victoria N a tio n a l Bank
W a c o ............................................ The C itize n s N a tio n a l Ban k o f W a c o
W a c o ................................................The First N a tio n a l Bank of W a c o
W ic h ita F a lls.....................................C ity N a tio n a l B a n k in W ic h ita Falls

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