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FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, August 15, 1939 SPECIAL ELECTION OF A CLASS B DIRECTOR To the Member Bank Addressed: On account of the resignation of Mr. Harry C. Wiess as a Class B director of this bank, which has been submitted by him because of the pressure of duties in connection with his other business interests, a special election will be held under the provisions of section 4 of the Federal Reserve Act to choose a Class B director to succeed him and to serve during the unexpired portion of his term of office ending December 31, 1940. Mr. Wiess was elected by the banks in Group 1 (having a capital and surplus in excess of $499,000) and there fore his successor is to be elected by that group of banks, a list of which will be found on the reverse side of this letter. Each bank in Group 1 is permitted to nominate one candidate for Class B director.* The nominations must be made by resolution of the Board of Directors and certified to me on or before September 14, 1939. A form for this purpose is enclosed. On or about September 16, 1939, a list of the candidates (indicating by whom nominated) and a preferential ballot will be mailed to each bank in the voting group. The ballots must be cast within fifteen days after receipt. The polls will open on September 18, 1939, and close at three o’clock p. m. on October 3, 1939. At that time the ballot box will be opened in the Board room of this bank, the votes counted and results of the election announced. The candidates are invited to be present or represented on that occasion. In order to be counted, the ballot must be executed by an officer authorized to cast the vote. If the official signature of the officer, or officers, authorized to cast the ballot has not been filed with me, such official ^ signature should be filed before the polls close. Inasmuch as the authority conferred on these officers continues until revoked, they need not be reappointed. EACH MEMBER BANK WHICH HAS NOT DESIGNATED AN OFFICER, OR OFFICERS, FOR THE PURPOSE OF SIGNING THE BALLOT, OR ANY BANK THAT DESIRES TO CHANGE ITS AUTHORIZATION SHOULD DO SO BY RESOLUTION OF ITS BOARD OF DIRECTORS AND CERTIFY THE APPOINTMENT TO ME BEFORE THE POLLS CLOSE. A form for this purpose is enclosed. While the BANKS IN GROUPS 2 AND 3 WILL NOT VOTE IN THIS ELECTION, this circular is sent to them without forms for their information. Very truly yours, Chairman of the Board ♦Section 4 o f the Federal Reserve Act contains the following provisions: “ Class A shall consist o f three members, who shall be chosen by and be representative o f the stockholding banks. No officer or director o f a member bank shall be eligible to serve as a Class A director unless nominated and elected by banks which are members o f the same group as the member bank of which he is an officer or director. Any person who is an officer or director o f more than one member bank shall not be eligible for nomination as a Class A director except by banks in the same group as the bank having the largest aggregate resources of any of those o f which such person is an officer or director. Class B shall consist o f three members, who at the time o f their election shall be actively engaged in their district in commerce, agriculture or some other industrial pursuit. No director o f Class B shall be an officer, director, or employee of any bank. No Senator or Representative in Congress shall be a member o f the Board o f Governors o f the Federal Reserve System or an officer or a director of a Federal reserve bank.” In a resolution adopted December 23, 1915, the Federal Reserve Board expressed the opinion “ that persons holding political or public office in the service o f the United States, or o f any State, territory, county, district, political subdivision, or municipality thereof, or acting as members o f political party committees, cannot consistently with the spirit and underlying principles of the Federal Reserve Act, serve as directors or officers o f Federal Reserve Banks.” On December 28, 1915, the Federal Reserve Board resolved that “ national bank examiners shall not hereafter be elected * * * to directorships in Federal Reserve Banks.” Under date o f July 2, 1925, the Federal Reserve Board ad vised it had “ reached the conclusion that a person whose sole occupation is that of officer of an insurance company is not eligible for election as a Class B director o f a Federal reserve bank.” This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) LIST O F B A N K S C O M P O S IN G G R O U P 1 (Banks with Combined Capital and Surplus in Excess of $499,000) ARIZONA Town Bank Designated Voting Officer Tucson........................... Southern Arizona Bank & Trust Company..........President, Vice President, Cashier LOUISIANA Monroe.......................... Ouachita National Bank in Monroe.............r,..... Chairman, President, Vice President, Cashier Shreveport.....................Commercial National Bank in Shreveport_____ President, Vice President, Cashier Shreveport.....................Continental-American Bank & Trust Company.. Cashier Shreveport.....................First National Bank...............................................President, Vice President,Cashier TEXAS Amarillo.........................Amarillo National Bank.......................................Chairman, President, Vice President, Cashier Amarillo........................ First National Bank.............................................. Chairman, President, Vice Presidents Austin............................ American National Bank.......................................Chairman, President, Vice President, Cashier Austin............................ Austin National Bank.............................................Chairman, President, Vice President, Cashier Beaumont...................... American National Bank........... President, Vice President,Cashier Beaumont . .................... First National Bank................ ...;...... .......... ....... President, Vice President, Cashier Corpus Christi............... Corpus Christi National Bank............................. ..Chairman, President, Vice President, Cashier Corsicana.......................First National Bank of Corsicana................ Chairman, President, Vice President, Cashier Dallas.............................Dallas National Bank.................................... Chairman, President, Vice President and Vice President-Cashier Chairman, President, Vice President, Cashier Dallas............................ First National Bank in Dallas............. Dallas.............................Mercantile National Bank at Dallas..... ......... ...Chairman, President, Vice President, Cashier Dallas.......... ;................. Republic National Bank of Dallas.............. ,..... Chairman, President, Vice President, Cashier El Paso...........................El Paso National Bank...... .................................. Chairman, President, Vice President, Cashier El Paso...........................State National Bank..................... ....... ........ ....... President, Vice President Chairman, President, Vice President, Cashier Fort Worth.................... Continental National Bank..................... Fort Worth......................First National Bank.......................................... Chairman, President, Vice President, Cashier Fort Worth............. Fort Worth National Bank.... .......................... Chairman, President, Vice President, Cashier Galveston..................... _Hutchings-Sealy National Bank of Galveston .. Chairman, President, Vice President, Cashier Galveston.......................United States National Bank ............................. Chairman, President, Vice President, Cashier Greenville.......................Greenville National Exchange Bank .................. President, Vice President, Cashier Houston..........................Citizens State Bank...... ..................................... Houston........................ City National Bank of Houston...... ........ -...Chairman, President, Vice President, Cashier Houston........... ..............First National Bank in Houston....................... Chairman, President, Vice President, Cashier ..... Houston..........................Houston National Bank .......... .......... .....~ ........ Melvin Rouff, Vice President Houston..........................National Bank of Commerce...... ..... .......... ........ President, Vice President, Cashier Houston.- ........... ...........San Jacinto National Bank ......................... Chairman, President, Vice President, Cashier Houston........................ Second National Bank. ........ Chairman, President, Vice President, Cashier Houston........................ South Texas Commercial National Bank............ Chairman, President, First Vice President, Cashier Houston...........................State National Bank............................................ Chairman, President, Vice President, Cashier Houston......................... Union National Bank........................................... Chairman, President, Vice President, Cashier Laredo.................. ......... Laredo National Bank...... .....................................Chairman, President, Vice President, Cashier Port Arthur............. ..... First National Bank— .......................................... President, Vice President, Cashier San Angelo.................... Central National Bank......................................... Chairman, President, Vice President, Cashier San Angelo.................... First National Bank...... ...................... President, Cashier San Angelo.................... San Angelo National Bank of San Angelo..........President, Vice President, Cashier San Antonio...................Alamo National Bank............................................President, Vice Presidents, Cashier San Antonio...................Frost National Bank . - ..................................... Chairman, President, Vice President, Cashier San Antonio...................Groos National Bank............. ...............................Chairman, President, Vice President, Cashier San Antonio...................National Bank of Commerce. ............................. Chairman, President, Vice President San Antonio...................South Texas National Bank of San Antonio . Chairman, President, Vice President, Cashier Sherman.........................Merchants & Planters National Bank................ Chairman, President, Vice President, Cashier Texarkana.....................Texarkana National Bank.........................— ..... President, Vice President, Cashier Tyler................ ..............Citizens National Bank......................................... Chairman, President, Vice President, Cashier Tyler.-...........................Peoples National Bank.......... ........... ................... Sam R. Greer, President Victoria..........................Victoria National Bank............... ............... Cashier Waco; ..................... First National Bank_______ _____ ___ ______ Chairman or President Wichita Falls................. City National Bank in Wichita Falls..... .......... ...Chairman, President, Vice President, Cashier Wichita Falls.................First National Bank..................... ....... ....,...........Chairman, President, Vice President
