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Federal Reserve Bank OF DALLAS Dallas, Texas, October 31, 1952 N O M IN A T IO N A N D ELECTIO N OF DIRECTORS To the Member Banks in the Eleventh Federal Reserve D istrict: In accordance with the provisions of Section 4 of the Federal Reserve Act and my circular letter dated September 26, 1952, in regard to the election of directors of this bank to succeed Mr. J. Edd McLaughlin, Class A director, and Mr. George L. MacGregor, Class B director, whose terms will expire December 31,1952, and to succeed Mr. George H. Zimmerman, deceased, to serve during the unexpired portion of his term o f office ending December 31, 1954, there are listed in this circular the names of the individuals nomi nated, 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 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. 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, 1952, or subsequently changed by a certified authorization. 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 3, 1952, and close at 2:00 p.m. on November 18, 1952. Consequently, your ballot must be received here not later than 2:00 p.m., November 18, 1952, 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, 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 26, 1952, giving notice of this election, contained a list of member banks in Groups 1, 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 days after receipt of the list o f candidates the duly authorized officer o f 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 chair man of the board of directors of the Federal reserve bank of the district. Each such officer shall make a cross opposite the name o f 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 nomi nated and elected by banks which are members of the same 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 m ajority o f 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 m ajority of the electors voting and the highest number of combined votes shall be declared elected. If no candidate have a m ajority 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 col umn 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 pur pose 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 $650,000 and over; Group 2 consists of banks with capital and surplus of over $150,000 and less than $650,000; and Group 3 consists of banks with capital and surplus of $150,000 and less. Please forward your ballot so that it will reach this office on or before 2:00 p.m., November 18, 1952. If the ballot is received after that time, it cannot be counted. NOMINEES FOR CLASS A DIRECTOR (Group 3) LESLIE LOWRY President, The First National Bank in Grandview Grandview, Texas Mr. Lowry was born in Hatfield, Arkansas, on January 21, 1911. Shortly thereafter, his parents moved to Beau mont, Texas, where he attended public schools and gradu ated from the French High School of Beaumont in 1931. Mr. Lowry attended John Tarleton Agricultural College at Stephenville, Texas, for two years and then transferred to Oklahoma A. & M. College at Stillwater, where he re ceived his B.S. degree in 1935. Following his graduation, and for a period of three years, Mr. Lowry served as Mathematics Instructor in the Senior High School in McAlester, Oklahoma. He secured a teaching position in the public schools of Beaumont, where he served for one year, and then resigned to enter the insurance business in 1940. In 1941 Mr. Lowry was elected to the Texas Legislature from Jefferson County, and in 1942 he was elected Mayor of the City of Beaumont, Texas. Mr. Lowry is President of The First National Bank in Grandview, Grandview, Texas, and of the Security State Bank, Hedley, Texas. He is Chairman of the Board of the Peoples State Bank, Richland Springs, Texas. In addition to his banking business, Mr. Lowry owns controlling interest in the Texas Fire Insurance Company and the Lone Star Casualty Company. At the present time, he is a Director of the Ennis Lions Club and a member of the Dallas Athletic Club, the Dallas Insurance Club, and Chism-Landers Post No. 361 of the American Legion. Nominated by the Following Bank in Group 3: Texas Grandview - ............. The First National Bank in Grandview j. edd McLa u g h l i n President, Security State Bank & Trust Company Ralls, 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 pri vate 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 pro prietor and executive of “The McLaughlins,” land holdings 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 Bank ers Association; Chairman of the Seventh District, Treas urer, 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 Governor, 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; 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 Cros by County Savings Bond Committee. Nominated by the Following Banks in Group 3: Louisiana Delhi................................. The First National Bank of Delhi New Mexico Portales..................... .................The Portales National Bank Oklahoma Antlers— ................. .......... First National Bank at Antlers Atoka.............. .................. ....... ......... The Atoka State Bank Broken Bow ......... .............................Citizens State Bank Colbert.................................................... First National Bank Madill............................. The First National Bank in Madill Texas Anna............. ......................................... First National Bank Anson................ .............The First National Bank of Anson Anton.-................. ...................................Citizens State Bank Baird............... ..................The First National Bank of Baird Bells.................................... ........ ...........First National Bank Brenham.............. The Farmers National Bank in Brenham Cooper................................... First National Bank in Cooper Dawson............... .......... The First National Bank of Dawson De Kalb.....— ............. ..................... State Bank of De Kalb Dodson........................The First State Bank, Dodson, Texas Eagle Lake............... ........................... First National Bank Farmersville................ First National Bank at Farmersville Granbury...,.............. The First National Bank of Granbury Grapevine................. ...... First National Bank of Grapevine Henrietta.................. The First National Bank of Henrietta Honey Grove................ First National Bank in Honey Grove Hughes Springs_ First National Bank in Hughes Springs _ Itasca.............. ....... ..... .......................... First National Bank Jefferson................. The First National Bank of Jefferson Kerrville.... ............................................. ..... First State Bank Lakeview.......... ...............First National Bank of Lakeview Lorenzo....................................................Lorenzo State Bank Mart................ .... ...... Farmers & Merchants National Bank Matador ______________ The First State Bank of Matador Morton ................. ...................................First State Bank O’Donnell_________ The First National Bank of O’Donnell Quitaque............... .... .............................. First National Bank R alls........... .............Security State Bank & Trust Company Richmond___ ____________ _____Fort Bend National Bank R oby----------------------- --- Citizens State Bank, Roby, Texas Rosebud........... ................. ...... ........ Planters National Bank Rusk............... ..............Farmers and Merchants State Bank Shamrock-Farmers & Merchants State Bank of Shamrock Sudan..................................................... First National Bank Taft.................................... ...... The First State Bank of Taft Throckmorton The First National Bank of Throckmorton Winters ________ ____ _______ The Winters State Bank Wolfe City........ Wolfe City National Bank in Wolfe City Yorktown............. .................First State Bank of Yorktown NOMINEE FOR CLASS B DIRECTOR (Group 1) J. B. THOMAS Louisiana President and General Manager Texas Electric Service Company Shreveport...........Commercial National Bank in Shreveport Shreveport........................................................................... Continental-American Bank and Trust Company Fort Worth, Texas Mr. Thomas was born in San Marcos, Texas, in 1891. At an early age he moved to Greenville, Texas, where he attended public school and graduated from the Greenville High School. He attended Texas Agricultural and Mechani cal College, receiving a B.S. Degree in Mechanical Engi neering in 1911 and an M.E. Degree in 1931. In 1912 he went to work for the Texas Power & Light Company in Dallas as draftsman. He served in World War I in the Coast Artillery and was discharged as Captain in 1919. He returned to the Texas Power & Light Company where, in 1921, he became Chief Engineer, in which capac ity he was active in construction of electric, gas, ice, and water properties, and of substantial parts of the high tension transmission grid now serving Texas. In 1930 Mr. Thomas moved to Fort Worth as Vice Presi dent in Charge of Operations of the newly formed Texas Electric Service Company, where he has been actively in terested in the development of the resources of West Texas. Mr. Thomas was made President and General Manager of the Company in 1941 and became Vice President and Direc tor of the Texas Utilities Company when it was formed in 1945. Mr. Thomas is a Registered Professional Engineer and was a member of the Texas State Board of Registration for Professional Engineers from 1941 to 1950, serving as Chairman in 1949. He is a member of the American Society of Mechanical Engineers. He became a member of the American Institute of Electrical Engineers in 1928 and a Fellow in 1943 and has served on numerous Institute Com mittees. He is a Director of the Edison Electric Institute. Active in Fort Worth civic affairs, Mr. Thomas is a mem ber of the Fort Worth Club, the Steeplechase Club, River Crest and Colonial Country Clubs, Exchange Club, and Dallas Athletic Club; is a Director of the United Fund of Fort Worth and Tarrant County, the West Texas Chamber of Commerce, the Fort Worth Stock Show, the Y.M.C.A., and the Fort Worth Chamber of Commerce; is a Mason and member of the Board of Trustees of All Saints Hos pital of Fort Worth, and one of the Trustees of the Mary Couts Burnett Trust; is Chairman of the Governor’s Com mittee on Water Conservation in Texas. Mr. Thomas is an Episcopalian and has served many times as Vestryman and several times as Senior Warden. Nominated by the Following Banks in Group 1: Arizona Tucson Southern Arizona Bank & Trust Company Texas Austin..................................... The American National Bank Austin...........................................The Austin National Bank Beaumont .....The American National Bank of Beaumont Beaumont................ The First National Bank of Beaumont .... Beaumont.— ..... ............................................................... Security State Bank and Trust Company of Beaumont Corpus Christi.............. The Corpus Christi National Bank Corsicana..........................First National Bank of Corsicana Dallas.................................................... Dallas National Bank Dallas.......................................Empire State Bank of Dallas Dallas........................... Mercantile National Bank at Dallas Dallas............................... Republic National Bank o f Dallas Dallas............. ..... Texas Bank & Trust Company of Dallas El Paso........................The State National Bank of El Paso Fort Worth.......Continental National Bank of Fort Worth Fort Worth.......... The First National Bank of Fort Worth Fort Worth........................... The Fort Worth National Bank _ Galveston_ Hutchings-Sealy National Bank of Galveston Galveston....The United States National Bank of Galveston Greenville...........The Citizens National Bank of Greenville Houston.................................................. Citizens State Bank Houston..........................The City National Bank of Houston Houston................ .............First National Bank in Houston Houston............ The Harrisburg National Bank of Houston Houston............................. Houston Bank & Trust Company Houston...........................................Houston National Bank Houston_____The National Bank of Commerce of Houston Houston.................. The Second National Bank of Houston Houston............................................ South Main State Bank Houston......................The Union National Bank of Houston Kilgore.................... .................... The Kilgore National Bank Lubbock........... ...... The Citizens National Bank of Lubbock Lubbock.............. ................ First National Bank at Lubbock Marshall................... .The First National Bank of Marshall Midland...................... The First National Bank of Midland Midland............................................ Midland National Bank Port Arthur.......... The First National Bank of Port Arthur San Angelo......The Central National Bank of San Angelo San Antonio............................. Bexar County National Bank San Antonio......The Frost National Bank of San Antonio San Antonio The Groos National Bank of San Antonio San Antonio....National Bank of Commerce of San Antonio Sherman............................................................................... The Merchants & Planters National Bank o f Sherman Tyler..........................The Citizens National Bank of Tyler Victoria............. ...............Victoria Bank & Trust Company Victoria.................. The Victoria National Bank of Victoria Waco............................... The First National Bank of Waco Wichita Falls.............. City National Bank in Wichita Falls Wichita Falls......... First National Bank of Wichita Falls Wichita Falls...... Wichita National Bank of Wichita Falls NOMINEES FOR CLASS B DIRECTOR (Group 2) A. M. GOLDSTEIN D.A.H U LCY President, Goldstein-Migel Company Chairman of the Board and President Lone Star Gas Company and the Lone Star Producing Company Waco, Texas Mr. Goldstein became associated with Goldstein-Migel Company in 1921, moving to Waco from New York. He brought to the company a long record of experience in the department store field. He served the City of Waco as a Commissioner and as Mayor Pro Tern in 1931 and 1932; was President of the Waco Chamber of Commerce for two years; and for four years, served as President of the Texas Retail Dry Goods Association. He is a former President of the Advisory Board of the Salvation Army; is a Trustee of the Waco Community Chest; and is a Director of the Working Boys Club (now the Waco Boys Club). He is holder of the Boys Club of America Keystone Award. During World War II, Mr. Goldstein served as Chairman of the McLennan County Chapter of the American Red Cross and of the Navy League for McLennan County. He is a past President of the Kiwanis Club and a Shriner, Scottish Rite, K.C.C.H.; is a Director of the First Federal Savings and Loan Association and of the Y.M.C.A.; is a Trustee of the Y.W.C.A. and of the Red Cross Board; is Treasurer of the Waco Chamber of Commerce; is President of Temple Rodef Sholem. He is also listed in Who’s Who in the South and Southwest. Nominated by the Following Banks in Group 2: Texas Canadian....................The FMrst National Bank of Canadian Harlingen............... The First National Bank of Harlingen Henderson..................Citizens National Bank of Henderson Taylor.........................................First-Taylor National Bank Waco........................................................National City Bank R. W. HODGE Rancher and Livestock Owner Del Rio, Texas Mr. Hodge was born in Del Rio, Texas, on December 14, 1919. He attended the public schools in Del Rio and com pleted his formal education at the University of Texas, from which he received a Law Degree in 1941. After re ceiving his license to practice law in Texas, he returned to Del Rio to make his home. Since 1941 he has been engaged in the livestock business and now operates a 15,000-acre ranch located in the north ern part of Val Verde County near Juno, Texas, on which are run cattle, sheep, and goats. Dallas, Texas Mr. Hulcy was bom November 13, 1892, on a farm in the Nesbitt community near Franklin in Robertson County in East Texas. The family moved to DeQueen, Arkansas, when he was eight years of age. In 1909, Mr. Hulcy went to work as a messenger boy for the International Great Northern Railroad at Palestine. In 1911, when the general accounting offices were moved to Houston, Mr. Hulcy chose to remain in Palestine and joined The Texas Company’s distribution plant. From 1912 to 1919, he worked for the Texas State Rail road and advanced to the position of auditor. In order to obtain medical treatment for his son, Mr. Hulcy moved to Dallas in 1920, at which time he obtained employment in the Accounting Department of the Lone Star Gas Com pany. Coming up through the ranks, he was made Execu tive Vice President in 1936 and took over the Presidency on February 12, 1940. He was named Chairman of the Board of Directors in January 1952. In 1948 Mr. Hulcy was given the Linz Award, which is presented annually to a Dallas citizen for outstanding com munity service; he was named Salesman of the Year 1951 by the Dallas Sales Executive Club. He holds honorary Doctor of Laws degrees from Texas Wesleyan College in Fort Worth and from North Texas State College in Denton. He was President of the Dallas Chamber of Commerce for three consecutive terms, has served as Drive Chairman and President of the Dallas Community Chest, and is past President of Circle Ten Council, Boy Scouts of America. At one time he served simultaneously as President o f his Company, the American Gas Association, and the Chamber of Commerce of the United States. He is presently serving as Chairman of the Board of the Chamber of Commerce of the United States. He has long been active in the affairs of the Kessler Park Methodist Church in Dallas and is past Chairman of its Board of Stewards. Mr. Hulcy is presently on the National Petroleum Coun cil and the Gas Industry Advisory Council and is a mem ber of the Executive Board of the Southwestern Legal Foundation, Southwestern Medical Foundation, Southwest Business Foundation, Texas Research Foundation, the American Petroleum Institute, the Independent Natural Gas Association of America, and the Dallas City-County Hospital System and of the Executive Committee of South ern Methodist University. Nominated by the Following Banks in Group 2: Louisiana Minden.............................. Minden Bank & Trust Company Mr. Hodge is a Trustee on the Val Verde County School Board; a Director of the Texas Sheep and Goat Raisers’ Association; has served as Director and Executive Secre tary to the Del Rio Livestock Association; is an officer in the Masonic Lodge; is a Knight Templar; and is a deacon in the Presbyterian Church. Hobbs.................................... First National Bank of Hobbs Portales................................................. First National Bank Nominated by the Following Bank in Group 2: Durant.......................The Durant National Bank in Durant Durant .........................The First National Bank in Durant Texas Del Rio ................ Del Rio National Bank New Mexico Oklahoma Texas (Continued on next page) Albany..........................The First National Bank of Albany Alpine..............................The First National Bank in Alpine Arlington..........................First National Bank in Arlington Athens.................................................... First National Bank Austin......................................................... .Texas State Bank Baytown.............. Citizens National Bank & Trust Company Bellaire..................................... First State Bank of Bellaire Belton............................. The First National Bank in Belton Borger................................................ Panhandle State Bank Brady.................. The Commercial National Bank of Brady Brenham............................. Washington County State Bank Brownsville.................First National Bank at Brownsville Brownwood................. First National Bank in Brownwood Bryan.............................. ...... First National Bank of Bryan Cameron.............. The Citizens National Bank of Cameron Carthage................................................ First National Bank Childress....................The First National Bank in Childress Clarksville.............. Red River National Bank in Clarksville Cleburne.......................................... Cleburne National Bank Corsicana..........................State National Bank of Corsicana Dallas................................................................................... American National Bank of Oak Cliff, Dallas, Texas Dallas............................. Oak Lawn National Bank of Dallas Denison.................. The Citizens National Bank o f Denison Denison........................The State National Bank o f Denison Denton........ The Denton County National Bank of Denton Floydada....................The First National Bank of Floydada Gainesville.....The Gainesville National Bank in Gainesville Galveston.................. The First National Bank of Galveston Garland......................The State National Bank of Garland Gladewater............................................The First State Bank Gonzales. ........................................... Gonzales State Bank Henderson.............. The First National Bank of Henderson Hondo.............................................The Hondo National Bank Houston.................................................East End State Bank Houston..........................Fidelity Bank and Trust Company Houston.............................................. University State Bank Jacksonville.........The First National Bank o f Jacksonville Kaufman............................................................................. Farmers & Merchants National Bank of Kaufman Kilgore.................... Citizens State Bank & Trust Company Kingsville.......... Kleberg First National Bank of Kingsville Lamesa.......................................The Lamesa National Bank Laredo................................. Union National Bank of Laredo McKinney— .The Collin County National Bank of McKinney Mercedes.................. The First National Bank of Mercedes Mineral Wells...........................................City National Bank Mineral Wells— .The State National Bank of Mineral Wells Mount Pleasant........ .................... .................................... The First National Bank in Mount Pleasant Nacogdoches...................................................................... The Stone Fort National Bank of Nacogdoches New Braunfels The First National Bank o f New Braunfels Palestine....................................... East Texas National Bank Palestine.............................................Royall National Bank Panhandle........................First National Bank of Panhandle San Antonio..................First National Bank of San Antonio Seguin......................... The Nolte National Bank of Seguin Seguin........................Seguin State Bank & Trust Company Sonora.................................................... First National Bank Stephenville...........................Farmers-First National Bank Sweetwater.............................National Bank of Sweetwater Taylor.............................................. The City National Bank Terrell....................The American National Bank of Terrell Vernon................................................ Herring National Bank Waxahachie............ Citizens National Bank in Waxahachie Winnsboro.............. The First National Bank of Winnsboro