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F e d e r a l r e s e r v e Ba n k
O F

D A LLA S

Dallas, Texas, October 31, 1958

N O M IN A TIO N A N D ELECTION OF DIRECTORS
(By Member Banks in Groups 1 and 3)

The member banks in Group 2 will not participate in
this election, and this circular is sent to them without
forms for their information only.

To the M em ber Banks in Groups 1 an 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 24, 1958, in regard to the election of directors of this Bank to succeed Mr. J. Edd McLaughlin,
Class A director, and Mr. J. B. Thomas, Class B director, whose terms will expire December 31, 1958, 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 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 24,
1958, or subsequently changed by a certified authorization. If you so desire, you may change your authori­
zation 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 3, 1958, and close at 2:00 P.M. on November 18, 1958. Conse­
quently, your ballot must be received here not later than 2:00 P.M., November 18, 1958, 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 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)

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.
M y circular letter of September 24, 1958, giving notice of this election, contained a list of member banks in Groups
1 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:
“Within fifteen d ays 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 direc­
tors of the Federal reserve bank of the district. Each such officer shall m ake 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 a s a class A director unless nominated and elected by banks which are members of
the sam e group as the member bank of which he is an officer or director.
* * * * * * *

“A n y 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 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.
A n immediate report of election shall be declared.
*

*

*

*

* * *

. .w henever any two or more member banks within the sam e Federal reserve district are affiliated
with the same holding com pany affiliate, participation by such member banks in any such nomination
or election shall be confined to one of such banks, which m ay be designated for the purpose by such
holding com pany 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
$2,000,000 and over; Group 2 consists of banks with capital and surplus of $300,000 and over, but under $2,000,000;
and Group 3 consists of banks with capital and surplus of under $300,000.
Please forward your ballot so that it will reach this office on or before 2:00 P.M., November 18, 1958. If the ballot
is received after that time, it cannot be counted.

N O M IN EE FOR CLASS B DIRECTOR
H. B. Z A C H R Y

Nom inated by the Following Banks in Group 1:

President and Chairman of the Board
H. B. Zachry Company

TEXAS

San Antonio, Texas
A bilene .................................... The Citizens National Bank in Abilene

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 devel­
oped into one of the major construction companies in the
United States. He was the National President of Associated
General Contractors of America in 1940 and is presently
a member of the Board of Directors of Texas A. & M.
College.

A m arillo.................................... The First National Bank of Am arillo

In addition to serving as President and Chairman of the
Board of the H. B. Zachry Company, Mr. Zachry has organ­
ized and directs the following subsidiary and affiliated
companies: Alamo Aviation, Inc., Citizens Republic Insur­
ance Company, Bexar Equipment Company, Francitas G as
Company, Gasoline Production Corporation, Line Services,
Inc., Produce Market Building Corporation, W right Oil Com­
pany, Zachry Industries, H. B. Zachry Properties, and The
Transit Tower Building Corporation, all of San Antonio,
Texas; Herring-Price Lumber Company and Rancho Blanco
Corporation of Laredo, Texas; and Capitol Aggregates,
Inc., Austin, Texas.

Houston............ Bank of the Southwest National Association, Houston

A ustin......................................The American National Bank of Austin
A ustin......................................The Capital National Bank in Austin
Beaumont............................The American National Bank of Beaumont
Beaumont.................................... The First National Bank of Beaumont
D allas..................................................First National Bank in Dallas
D allas........................................... Mercantile National Bank at Dallas
D allas........................................... Republic National Bank of Dallas
El Paso.......................................................... El Paso National Bank
Fort W orth.................................The First National Bank of Fort Worth
Houston............................. ................................. Citizens State Bank
Houston......................................First City National Bank of Houston
Houston.............................................Texas National Bank of Houston
San A ntonio........................ The Alam o National Bank of San Antonio
San A ntonio............................. The Frost National Bank of San Antonio
San A ntonio.......................... The G roos National Bank of San Antonio
San A ntonio...................... National Bank of Commerce of San Antonio
W a c o ......................................The Citizens National Bank of W aco
W aco .............................................The First National Bank of W aco
W ichita Falls.................................City National Bank in W ichita Falls
W ichita Falls.......... ................. The First National Bank of W ichita Falls

NO M INEE FOR CLASS A DIRECTOR

j.

edd

M cLa u g h l i n

O KLAHO M A

President
Antlers..................................................First National Bank at Antlers

Security State Bank & Trust Company

A toka....................................................... ....... The Atoka State Bank
Colbert......................................... The First National Bank of Colbert

Ralls, Texas
TEXAS
Mr. McLaughlin was born on a farm in Childress County
on February 1, 1894, later moving with his parents to Col­
lingsworth County, then to Gray County, and 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 Teachers College in Canyon, and
the Brantley-Draughons 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 incorporated in 1918. He
has served as an officer and director of that institution
since its organization and is now its President. He is joint
proprietor and executive of “The McLaughlins,” land hold­
ings and investments, and owns and operates extensive
farming and other properties.
Mr. McLaughlin has served as President of the Cap
Rock Bankers Association; President of the South Plains
Bankers Association; Chairman of the Seventh District,
Treasurer, and member of the Executive Committee of the
Texas Bankers Association; President of the Ralls Chamber
of Commerce; President of the Ralls Rotary Club; a gover­
nor, Chairman of the Investment Committee, member of the
Finance Committee, and a director from the United States
of Rotary International. He is now serving as Director of
the Ralls Chamber of Commerce; a director of the Central
American Life Insurance Company, Lubbock, Texas; trustee
of the First Methodist Church; member of the Executive
Council and National Council member from the South
Plains Area of the Boy Scouts of America, from which he
is recipient of the Silver Beaver award. He is also Chairman
of the Crosby County Savings Bond Committee.

Asperm ont.................................The First National Bank of Aspermont
A th e n s .......................................... The First National Bank of Athens
Baird...................... ....................... The First National Bank of Baird
Beeville............................... The Commercial National Bank of Beeville
Bells................................................ The First National Bank of Bells
Bovina................................................. First National Bank of Bovina
Brenham............................... The Farmers National Bank in Brenham
Bronte................................................. First National Bank in Bronte
Daingerfield.................................... The National Bank of Daingerfield
Daw son......................................... The First National Bank of Dawson
Decatur......................................... The First National Bank in Decatur
Eagle Lake.................................The First National Bank of Eagle Lake
Evant................................................The First National Bank of Evant
Farmersville.................................. First National Bank at Farmersville
G raham .................................................. The Graham National Bank
G ranbury.................................. The First National Bank of Granbury
G rapevine....................................... First National Bank of Grapevine
Ham lin................... The Farmers & Merchants National Bank of Hamlin
Hereford...........................................................Hereford State Bank
Honey G rove.................................First National Bank in Honey Grove
Houston....................................... Northeast National Bank of Houston
Hughes Sp rin gs................... The First National Bank of Hughes Springs
Kaufm an................The Farmers & Merchants National Bank of Kaufman
Kerrville.................................................. First State Bank of Kerrville
Knox City.......................................................The Citizens State Bank
Leonard.................................................. The Leonard National Bank
Lipan.............................................. The First National Bank of Lipan
Lorenzo............................................................... Lorenzo State Bank
M art........................ The Farmers and Merchants National Bank of Mart
M art................................................... The First National Bank of Mart
Morton...................................................................... First State Bank
M uleshoe......................................... First National Bank of Muleshoe
Panhandle.................................. The First National Bank of Panhandle
Post................................................... The First National Bank of Post

Nominated by the Following Banks in Group 3:

Ralls...........................................Security State Bank & Trust Company
Rotan.............................................. The First National Bank of Rotan
Sea grave s.................................... The First National Bank in Seagraves

LO U ISIA N A

Spur....................................................................Spur Security Bank
Sudan.............................................. The First National Bank of Sudan

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

Taft........................................................ The First State Bank of Taft
Teague................................................First National Bank of Teague

N E W M EXICO

Van Alstyne.............................The First National Bank of Van Alstyne
W axahachie.............................Citizens National Bank in W axahachie

Lordsburg.................................The First National Bank of Lordsburg

W hitesboro.................................Security National Bank of W hitesboro
W ills Point.................................The First National Bank of W ills Point

Melrose......................................... The First National Bank of Melrose

W inters.......................................................... The W inters State Bank

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