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FE.DERAL RESERVE BANK OF CHICAGO 79 WEST MONROE STREET ., September 30, 1918 Bulletin No. 120 To All Member Banks in Vederal Reserve District No. 7. Gentlemen, House Bill No. 11283, generally known as the Phelan Bill, has passed .both Houses of Congress and been signed b7 the President and is now in effect. Section 4 or the lederal Reserve AJt, which relates to the election of directors of Class A and Class B, is amended by this bill so as to do away with the appointment of electors and so as to permit each bank by its authorized officer, to cast the vote of the bank for candidates for election. You will be advised of the changes in detail later on. In order to save time and enable Uember Banks whose directors' meetings are held the first week in each moath to take suitable action it has been thought advisable to anticipate fuller instructions in regard to the coming election of directors whose term expires December 31, 1918, by having the Member Banks b7 resolution of their directors authorize their President, Vice President or Cashier to cast the vote ot tne Member Bank in the coming elections. Enclosed. herewith please find a form of resolution which 7ou are urged to have passed by your Board of Directors at the earliest possible moment and send a certified copy thereof to me. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Very truly yours, w. A. Heath, Federal Reserve Agent District No . 7. RESOLUTION DESIGNATING OFFICERS TO CAST THE VOTE OF MEMBER BANK FOR DIRECTORS OF CLASS A AND CLASS B OF FEDERAL RESERVE BANK OF CHICAGO. At a meeting of the Board of Directors of the ----------------------------------------------------·--····-·-·-·--··--·--·-·-·---------·-·-·--·---··---- - - - - (Name of Bank) (City) (State) duly cnlled and held on _the ..-•-·····-··--····- ···day of _____________-----··----~----- , 1918, a quorum being present , the following resolution was duly passed, to-wit: BE IT RESOLVED, That the President, Vic e President , and Cashie r of this bank, or any one of them , be , and he is herebJ, authorized to cast the vote of this bank f or a director of Class A and for a Director of Class B of the Board of Director• of the Federal Reserve Bank of Chi cago, and to take all such action on behalf of this bank as may be required or permitted by law to cast the vote of this bank in the elections of Class A and Class B directors of the Federal Reserve Bank of Chicago . I hereby Certify that the foregoing is a true and correct copy of a Resolution of the Board of Directors of the above-named bank duly adopted on the date above specified, as fully completely as the same remains of record on the record of the proceedings of the Board of Directors of said bank. I Further Certify that _______________ i .s Pr••- ident of said bank, and -······-···--·······-···--··-····--··-··· ---··········· -------···-··-···- is Vice Prea14ent of said bank, and that I, the undersigned , am Cashier of said bank. Cashier. (SEAL) To W. A. HEATH, Chairman, Board of Directors, Federal Reserve Bank of Chicago . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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