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F ed er al r es e r v e B ank O F D ALLAS Dallas, Texas, February 27, 1954 NOMINATIONS FOR CLASS B DIRECTOR SPECIAL ELECTION The member banks in G roups 1 a n d 2 will not partici pate in this election, and this circular is sent to them without forms for their information only. To the M e m b e r Banks in G ro u p 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 January 22, 1954, in regard to the special election of a Class B Director of this bank to succeed M r. W . F. Beall, deceased, and to serve during the unexpired portion of his term of office ending December 31, 1956, there are listed in this circular the name and business affiliations of a nominee for such directorship, together with the names of the banks nominating him. Accompanying this circular is a ballot upon which you should record your vote, together with the nec essary 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 January 22, 1954, or subsequently changed by a certified authorization. If you so desire, you may change your author ization 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 March 1, 1954, and close at 2:00 P. M. on March 16, 1954. Consequently, your ballot must be received here not later than 2:00 P. M ., March 16, 1954, 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 nominee is 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. M y circular letter of January 22, 1954, giving notice of this election, contained a list of member banks in Group 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 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 direc tors 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. ********** “ Any 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. 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 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 $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., March 16, 1954. If the ballot is received after that time, it cannot be counted. NOMINEE FOR CLASS B DIRECTOR JO H N R. ALFORD Nominated by the Following Banks in Group 3: Industrialist and Farmer Henderson, Texas 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. LO UISIANA O ak Grove................................... W ett Carroll National Bank of Oak Grove OKLAHOM A 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 Goods 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. Atoka..................................................................................... The Atoka State Bank Colbert.....................................................................................First National Bank TEXAS A nna......................................................................................... First National Bank Be||s ......................................................................................... First National Bank Brenham.............................................. The Farmers National Bank in Brenham Bridgeport.............................................. The First National Bank of Bridgeport Mr. Alford is a director, Mayfield Company, Tyler, Texas; Texas Finance Company, Alford Brothers Motor Company, Tex-E-Lec Corporation, Maco O il Company, Henderson, Texas; Texas Research Foundation, Renner, Texas; and Texas G oo d Roads Association. He is a mem ber 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. Cooper................................................................ First National Bank in Cooper Cushing..............................................................First National Bank of Cushing Eagle Lake............................................................................... First National Bank Farmersville.................................................First National Bank at Farmersville G ra pevine....................................................First National Bank of Grapevine Honey Grove............................................ First National Bank in Honey Grove Hughes Springs..................................First National Bank in Hughes Springs Lewisville.............................................................................. First National Bank lovelady...................................................The State National Bank of Lovelady He is past Chairman of the Board of Directors of the Citizens National Bank, Henderson, Texas; President in 1946 of the East Texas Chamber of Commerce; and a former director of the Henderson Chamber of Commerce. Throughout his business career, Mr. Alford has been active in civic enterprises, not only in the section where he resides but also throughout the State of Texas. Ralls..........................................................Security Slate Bank & Trust Company Roby................................................................ Citizens State Bank, Roby, Texas Rusk.............................................................. Farmers and Merchants State Bank Taft.............................................................................. The First State Bank of Taft Tom Bean................................................................................. First National Bank Troup................................................................ The First National Bank of Troup Winters..............................................................................The Winters State Bank
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