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FEDERAL RESERVE BANK OF NEW YORK J-Circular No. 1 7 0 1 1 LSeptember 30, 1936J Nomination and Election of Directors To Member Banks in the Second Federal Reserve District: An election will be held under the provisions of section 4 of the Federal Reserve Act, as amended, to choose successors to the following directors of this bank whose terms will expire December 31, 1936: class A director, CECIL E. BERRY, President, The Citizens National Bank of Waverly, Waverly, N. Y., and class B director, ROBERT T. STEVENS, President, J. P. Stevens & Company, Inc., New York, N. Y. Both directors were elected by member banks in Group 3 and their successors will be chosen by this group. The member banks in Groups 1 and 2 do not elect directors this year and will not participate in this election. The classification of member banks for the purpose of nomination and election of class A and B directors of the Federal Reserve Bank of New York is as follows: Group 1 consists of banks with capital and surplus of over $1,999,000, Group 2 consists of banks with capital and surplus of $301,000 to $1,999,000, and Group 3 consists of banks with capital and surplus of less than $301,000 (listed on pages 3-12). Except as indicated in the next succeeding paragraph of this circular, each bank in Group 3 is permitted to nominate a candidate for class A director and a candidate for class B director.* The nominations should be made by resolution of the boards of directors of the nominating banks and certified copies of such resolutions should be sent to me so as to reach me on or before October 26, 1936. The enclosed printed forms show the appropriate forms of resolution and one copy of each form should be used in sending certified copies of the resolutions to me. •Section 4 of the Federal Reserve Act, as amended, reads in part as follows: "Class A shall consist of three members, who shall be chosen by and be representative of the stock-holding banks. . . . 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 person who is an officer or director of 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 of which such person is an officer or director." "Class B shall consist of three members, who at the time of their election shall be actively engaged in their district in commerce, agriculture or some other industrial pursuit. . . . No director of class B shall be an officer, director, or employee of any bank." "No Senator or Eepresentative in Congress shall be a member of the Board of Governors of the Federal Keserve System or an officer or a director of a Federal reserve bank." In a resolution adopted December 23, 1915, the Board of Governors of the Federal Reserve System expressed the opinion "that persons holding political or public office in the service of the United States, or of any State, territory, county, district, political subdivision, or municipality thereof, or acting as members of political party committees, cannot consistently with the spirit and underlying principles of the Federal Reserve Act, serve as directors or officers of Federal Reserve Banks." On December 28, 1915, the Board of Governors of the Federal Reserve System resolved that "national bank examiners shall not hereafter be elected * * * to directorships in Federal Reserve Banks." Under date of July 2, 1925, the Board of Governors of the Federal Reserve System advised 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 of a Federal Reserve Bank." 1 Under the provisions of section 4 of the Federal Beserve Act, as amended**, whenever any two or more member banks within the same Federal reserve district are affiliated with the same holding company affiliate (as that term is defined in section 2 (c) of the Banking Act of 1933 as amended by section 301 of the Banking Act of 1935)*** participation by such member banks in the nomination of candidates for, or the election of, directors of Federal reserve banks shall be confined to one of such banks, and the holding company affiliate may designate the bank to participate in such nomination or election. Accordingly, banks in Group 3 affected by the foregoing provision of the law are requested to take prompt action to have the appropriate holding company affiliate designate one of its affiliated banks to participate in this nomination and election. Such designations should be made by resolutions of the boards of directors or similar governing bodies of the holding company affiliates and should be made even though in any particular case only one of the affiliated banks may be in Group 3. Two copies of a printed form of appropriate resolution are enclosed, and one copy thereof should be completed and sent to me so as to reach me on or before October 26,1936. On October 28, 1936, copies of the list of candidates (indicating by whom nominated) and preferential ballots will be mailed so that, in the normal course of the mails, they will be received by all banks in Group 3 on October 29, 1936. The law provides that the ballot shall be cast within 15 days after receipt of this list. The polls will open on October 29, 1936, and will close at 12 o'clock noon on Friday, November 13, 1936. Upon the closing of the polls the ballot box will be opened in the board room of this bank, the votes counted and checked by tellers, and results of the election announced. The candidates will be invited to be present or represented on that occasion. In order to be counted as valid, the ballot must be executed by an officer authorized to cast the vote and must be received by me at or before the time thus fixed for the closing of the polls; (i.e., at or before 12 o'clock noon on Friday, November 13, 1936). The list on the following pages shows the officers heretofore designated for this purpose by the respective banks in Group 3. The hanks in Groups 1 and 2 will not participate in this election, and this circular is sent to them without forms for their information only. OWEN D. YOUNG, Deputy Chairman of the Board. **Section 4 of the Federal Reserve Act, as amended by section 3 (b) of the Banking Act of 1933, provides, in part, as follows: . . . That 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. ***Section 2 (c) of the Banking Act of 1933, as amended by Section 301 of the Banking Act of 1935, defines the term "holding company affiliate" as follows: (c) The term "holding company affiliate" shall include any corporation, business trust, association, or other similar organization— (1) Which owns or controls, directly or indirectly, either a majority of the shares of capital stock of a member bank or more than 50 per centum of the number of shares voted for the election of directors of any one bank at the preceding election, or controls in any manner the election of a majority of the directors of any one bank; or (2) For the benefit of whose shareholders or members all or substantially all the capital stock of a member bank is held by trustees. Notwithstanding the foregoing, the term "holding company affiliate" shall not include (except for the purposes of section 23A of the Federal Reserve Act, as amended) any corporation all of the stock of which is owned by the United States, or any organization which is determined by the Board of Governors of the Federal Reserve System not to be engaged, directly or indirectly, as a business in holding the stock of, or managing or controlling, banks, banking associations, savings banks, or trust companies. 1936 Election of Directors List of 496 Member Banks in Group 3 Revised to September 28, 1936 Group 3 consists of member banks with capital and surplus of less than $301,000 CONNECTICUT Place Bethel East Port Chester Greenwich New Canaan Kidgefield Bank or Trust Company Officers Authorized to Cast Vote The Bethel National Bank The Byram National Bank of East Port Chester (P. 0., Port Chester, N. Y.) First National Bank in Greenwich The First National Bank & Trust Company of New Canaan The First National Bank and Trust Company of Kidgefield President President, any Vice President, or Cashier President, any Vice President, or Cashier Cashier NEW JERSEY Allendale Allenhurst Allentown Atlantic Highlands Bayonne Belleville Belmar BelvideTe Bergenfield Bernardsville Blaixstown Bloomfield Bloomingdale Bloomsbury Bogota Bogota Boonton Boonton Bradley Beach Branchville Caldwell Carteret Carteret Cedar Grove Ciiffside Park Clifton Clinton Clinton Cranbury Cranford Cranford Dumont Dunellen Dunellen The Atlantic Highlands National Bank The Broadway National Bank of Bayonne . . . . Peoples National Bank and Trust Company of Belleville The Belmar National Bank The First National Bank of Belvidere The Bergenfield National Bank and Trust Company . The Bernardsville National Bank The First National Bank of Blairstown Community Trust Company of Bloomfield The First National Bank of Bloomingdale . . . . The Citizens National Bank of Bloomsbury . . . . Bank of Bogota The Bogota National Bank The Boonton National Bank Boonton Trust Company The First National Bank of Bradley Beach . . . . The Branchville National Bank The Caldwell National Bank Carteret Bank and Trust Company First National Bank in Carteret The First National Bank of Cedar Grove . . . . The United National Bank of Ciiffside Park . . . . The Clifton National Bank The Clinton National Bank The First National Bank of Clinton The First National Bank of Cranbury Cranford Trust Company The First National Bank of Cranford The Dumont National Bank The First National Bank of Dunellen People's Trust Company Eatontown The First National Bank of Eatontown Edge water Englishtown The Edgewater National Bank . The First National Bank of Englishtown The First National Bank of Allendale . Allenhurst National Bank and Trust Company The Farmers National Bank of Allentown . . . . . President, Vice President, or Cashier President, Vice President, or Cashier President, or Cashier President, any Vice President, or Cashier President, President, President, President, any Vice any Vice any Vice any Vice President, President, President, President, or or or or Cashier Cashier Cashier Cashier President, any Vice President, President, any Vice President, J. E. Green, Cashier E. A. Fisher, Cashier President, any Vice President, President, any Vice President, or Cashier or Cashier President, President, President, President, any any any any Vice President, Vice President, Vice President, Vice President, or or or or Cashier Treasurer Cashier Cashier President, President, President, President, President, President, any Vice President, any Vice President, any Vice President, any Vice President, any Vice President, any Vice President, or or or or or or Cashier Cashier Cashier Cashier Treasurer Cashier or Treasurer or Cashier Wm. H. Heart, Cashier President, any Vice President, Treasurer, or Assistant Treasurer Chairman of the Board, President, any Vice President, or Cashier President, any Vice President, or Cashier NEW JERSEY (Continued) Place Bank or Trust Company Officers Authorized to Cast Vote Farmingdale The First National Bank of Farmingdale President, any Vice President, Cashier, or E. O. Murphy, Cashier Flemington Fords Fort Lee Fort Lee The Flemington National Bank and Trust Company . The Fords National Bank First National Bank in Fort Lee Fort Lee Trust Company Franklin Freehold Frenchtown Garfield Garwood Glen Eidge Glen Rock Guttenberg Ha ckettstown Hackettstown Haledon Hamburg High Bridge Highland Park Hillsdale Hillside Hope Irvington Sussex County Trust Company The Central National Bank of Freehold . . . . The Union National Bank of Frenchtown . . . . First National Bank in Garfield The First National Bank of Garwood Glen Ridge Trust Company Glen Rock Bank Liberty National Bank in Guttenberg The Hackettstown National Bank The Peoples National Bank of Hackettstown . Haledon National Bank The Hardyston National Bank of Hamburg . The First National Bank of High Bridge . . . . The First National Bank of Highland Park . . . The Hillsdale National Bank The Hillside National Bank (P.O., Elizabeth, N. J.) The First National Bank of Hope The Peoples National Bank & Trust Company Irvington President, any Vice President, or Cashier Fulton R. Hardman, Cashier President, any Vice President, Samuel J. Corker, President, or Peter Heft, Vice President President, any Vice President, or Cashier President, or Cashier J. Hosey Osborn, a Director T. R. Hoffman, Cashier President, any Vice President, or Secretary President, any Vice President, or Cashier President, any Vice President, or Cashier M. T. Welsh, President President, any Vice President, or Cashier President, any Vice President, or Cashier President, or any Vice President President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier of Jamesburg Keansburg Keyport The First National Bank of Jamesburg The Keansburg National Bank . The Peoples National Bank of Keyport Lambertville The Amwell National Bank of Lambertville Lambertville Linden The Lambertville National Bank Linden Trust Company Little Falls Little Ferry Livingston Madison Manasquan Manville Matawan Metuchen Milford Milltown Netcong Newark North Arlington North Bergen Nutley Nutley Nutley Oradell Palisades Park Park Ridge Paterson Paterson Perth Amboy Plainfield Pla infield Prospect Park The Little Falls National Bank The Little Ferry National Bank Livingston National Bank The First National Bank of Madison Manasquan National Bank The Manville National Bank The Farmers and Merchants National Bank of Matawan . Metuchen National Bank The First National Bank of Milford The First National Bank of Milltown The Citizens National Bank of Netcong The Mount Prospect National Bank of Newark . The North Arlington National Bank The First National Bank of North Bergen . Bank of Nutley The First National Bank of Nutley The Franklin National Bank of Nutley The First National Bank of Oradell The National Bank of Palisades Park The First National Bank of Park Ridge National Bank of America in Paterson National Union Bank in Paterson The Raritan Trust Company of Perth Amboy Mid-City Trust Company The Plainfield National Bank The Prospect Park National Bank (P.O., Pateraon, N. J.) . President, any Vice President , Cashier, or any Assistant Cashier M. I. Voorhees, Cashier President, any Vice President, or Cashier President, any Vice President , Cashier, or the Secretary President, any Vice President , Cashier, or any Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Secretary and Treasurer or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, Henry S. Terhune, President President, W. Egbert Thomas President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier B. R. Colwell, President President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Treasurer President, any Vice President, or Cashier President, any Vice President, or Cashier n NEW JERSEY Bank or Trust Company Place Rahway Ridgefield Rochelle Park Rockaway Sayreville Sea Bright Secaueus Somerville South Orange South Plainfield Springfield Spring Lake Sussex Tenafly Union Weehawken West Englewood Westfield West New York Westwood Westwood Whippany Wood Ridge VVyekoff (Continued) Officers Authorized to Cast Vote Rahway Trust Company Jan van Herwerden, President The Ridgefield National Bank President, any Vice President, or Rochelle Park Bank, of Rochelle Park, N. J President, any Vice President, or President, any Vice President, or First National Bank in Rockaway President, any Vice President, or The First National Bank of Sayreville The Sea Bright National Bank Peoples National Bank of Secaueus President, any Vice President, or The Second National Bank of Somerville Seymour 0. Coeyman, Treasurer South Orange Trust Company The First National Bank of South Plainfield . . . . Peter J. Miller, Cashier The First National Bank of Springfield Fred F . Schock, President First National Bank of Spring Lake President, any Vice President, or The Farmers National Bank of Sussex President, or any Vice President The Northern Valley National Bank of Tenafly . John R. Buchanan, President The Union Center National Bank The Hamilton National Bank of Weehawken . . . . President, Alfred J . Curtin President, any Vice President, or The West Englewood National Bank President, any Vice President, or The National Bank of Westfield National Bank of West New York The First National Bank of Westwood President, any Vice President, or Westwood Trust Company President, any Vice President, or The First National Bank of Whippany The Wood Ridge National Bank The First National Bank of Wyckoff President, any Vice President, or Cashier Cashier Cashier Cashier Cashier Cashier Cashier Cashier Cashier Treasurer Cashier NEW YORK Barker Batavia Citizens and Farmers Trust Company, Adams, New York The First National Bank of Addison First National Bank of Afton The First National Bank of Allegany The First National Bank of Altamont The First National Bank of Amenia The Bank of Amityville First National Bank and Trust Company of Amityville . The National Bank of Andes The Andover National Bank The Evans National Bank of Angola The Citizens Bank of Arcade The First National Bank of Ardsley The National Bank of Argyle The Athens National Bank Atlanta National Bank The First National Bank of Aurora Bank of Avoca The Babylon National Bank & Trust Company The First National Bank of Bainbridge The First National Bank and Trust Company of Baldwinsville The Somerset National Bank of Barker The First National Bank of Batavia Batavia Bath Bay Shore Beacon Beacon Belfast Bellerose Genesee Trust Company The Bath National Bank The First National Bank and Trust Company of Bay Shore The Fishkill National Bank of Beacon The Matteawan National Bank of Beacon The First National Bank of Belfast The First National Bank of Bellerose Adams Addison Afton Allagany Altamont Amenia Amityville Amityville Andes Andover Angola Arcade Ardsley A r gyle Athens Atlanta Aurora Avoca Babylon Bainbridge Baldwinsville President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier J. Alex Stott, Assistant Cashier President, any Vice President, or Cashier President Chester K. Owen, President President, any Vice President, or Cashier Fred J. Laird, Cashier N. Lansing Zabriskie, President President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier J. L. Dickinson, Cashier President, any Vice President, Cashier, or the Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier W. W. Dort, President NEW YOEK (Continued) Bank or Trust Company Place Bellniore Heliport The First National Bank of Bellmore The Bellport National Bank . . . Belmont Blasdell Bliss Bolivar Bolton Landing Boonville Boonville Brewster Bridgehanipton Broekport Buffalo Cairo Caledonia The State Bank of Belmont Bank of Blasdell The Bliss National Bank The First National Bank of Bolivar Bolton National Bank of Bolton Landing The First National Bank of Boonville The National Exchange Bank of Boonville . . The First National Bank of Brewsters The Bridgehampton National Bank Broekport National Bank The Lincoln-East Side National Bank of Buffalo . The First National Bank of Cairo The First National Bank of Caledonia Cullicoon Cambridge Camden Canajoharie Canastota Candor Canisteo Officers Authorized to Cast Vote . President, any Vice President, or Cashier President, any Vice President, Cashier, or President W. V. Hamilton First National Bank in Callicoon President, any Vice President, or Cashier r The Cambridge A alley National Bank President, any Vice President, or Cashier The First National Bank and Trust Company of Camden Chairman of the Board, President, any Vice President, or Cashier National Spraker Bank in Canajoharie B. F. Spraker, President The First National Bank of Canastota . President The First National Bank of Candor Wm. B. Smith, President First State Bank, Canisteo, N. Y. . President, any Vice President, Cashier, or Assistant Cashier The First National Bank of Canton President, any Vice President, or Cashier The St. Lawrence County National Bank of Canton . President, any Vice President, or Cashier The Putnam County National Bank of Carmel Clayton Ryder, President Canton Canton Carmel Castleton on Hudson Cato Catskill Catskill Cattaraugus Cedarlmrst The National Exchange Bank of Castleton on Hudson The First National Bank of Cato Catskill National Bank and Trust Company . The Tanners National Bank of Catskill . . . . Bank of Cattaraugus Peninsula National Bank of Cedarhurst . . . . Center Moriches Central Islip Central Square Central Valley Chappaqua Chateaugay Cliatham Cherry Creek Cherry Valley Chester Clayton Clifton Springs Clinton Clyde Clymer Cohocton Center Moriches Bank The Central Islip National Bank The First National Bank of Central Square . The Central Valley National Bank The Chappaqua National Bank The First National Bank of Chateaugay . . . . State Bank, Chatham, New York Cherry Creek National Bank Otsogo County National Bank of Cherry Valley . The Chester National Bank The First National Exchange Bank of Clayton The Ontario National Bank of Clifton Springs . The Hayes National Bank of Clinton The Briggs National Bank & Trust Company of Clyde Jlymer State Bank The Cohocton State Bank Cold Spring Copenhagen Cornwall Coxsackie Croghan Croton on Hudson Cuba The The The The The President, any Vice President, or Cashier President, any Vice President, Cashier, or W. B. Macintosh, President President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier . President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier National Bank of Cold Spring on Hudson Copenhagen National Bank . . . . Cornwall National Bank National Bank of Coxsackie . . . . Croghan National Bank The First National Bank of Croton on Hudson The Cuba National Bank President, any Vice President, or Cashier President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier President President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, President, President, President, any any any any Vice President, Vice President, Vice President, Vice President, or or or or Cashier Cashier Cashier Cashier President, President, President, President, any any any any Vice President, Vice President, Vice President, Vice President, or or or or Cashier Cashier Cashier Cashier President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier J. 8. Holloran, Cashier President, or any Vice President President, any Vice President, or Cashier President, any Vice President, or Cashier NEW YORK (Continued) Bank or Trust Company Place Cuba Cut.chogue Dansville Delhi Delmar Deposit Do Kuyter Dexter DoJgeville Dover Plains Downsville Dryden Dundee Dunkirk Ear Mile East Islip East Northport Eastport East Roekaway East Setauket Edmeston Edwards Ellenburg Depot Ellenville Ellenville Elmsford Endicott Endieott Evans Mills Fair Haven Fairport Falconer Farmingdale Farmingdale Fleischmanns Floral Park Florida Fonda Forestville Fort Edward Frankfort Franklin Square Franklin ville Fredonia Fredonia Freeport Friendship Fultonville Gainesville Garden City Glen Cove Glen Head Goshen Gouverneur Officers Authorized to Cast Vote President, any Vice President, or Cashier The First National Bank of Cuba President, any Vice President, or Cashier The First National Bank of Cutt'hogue The Merchants and Farmers National Bank of Dansville President, any Vice President, or Cashier President, any Vice President, Cashier, or The Delaware National Bank of Delhi W. W. Honeywell, President Bank of Bethlehem President, any Vice President, or Cashier The Farmers National Bank of Deposit De Kuyter State Bank President, any Vice President, Cashier, or The First National Bank of Dexter Assistant Cashier The First National Bank of Dolgeville . President, any Vice President, or Cashier The Dover Plains National Bank . E. G. Eeynolds, President The First National Bank of Downsville President, any Vice President, or Cashier The First National Bank of Dryden . J. D. Ross, President The Dundee National Bank President, any Vice President, Cashier, or an Assistant Cashier The Merchants National Bank of Dunkirk . . . . President, any Vice President, or Cashier The First National Bank of Earlville H. H. White, President The First National Bank of East Islip President, or Cashier The Citizens National Bank of East Northport . President, any Vice President, or Cashier The Eastport National Bank President, any Vice President, or Cashier East Roekaway National Bank & Trust Company . The Tinker National Bank of East Setauket . . . . President President, any Vice President, or Cashier The First National Bank of Edme3ton The Edwards National Bank '"..*• The State Bank of Ellenburg The First National Bank and Trust Company of Ellenville President, any Vice President, or Cashier President, any Vice President, or Cashier The Home National Bank of Ellenville President, any Vice President, or Cashier The First National Bank of Elmsford President, any Vice President, or Cashier The Endicott National Bank Union Trust Company of Endicott (P. O.; Union Sta- President, any Vice President, Cashier, or tion, N. Y.) •_.--. Assistant Treasurers Peoples Bank of Evans Mills President, any Vice President, or Cashier The Fair Haven National Bank Fairport National Bank and Trust Company . . . . Chairman of the Board, President, any Vice President, or Cashier C. E. Olson, Cashier The First National Bank of Falconer . President, any Vice President, or Cashier The Bank of Farmingdale . . . . President, any Vice President, or Cashier The First National Bank of Farmingdale The First National Bank of Fleischmanns Vice President and Cashier Chas. H. Van Floral Park Bank Nostrand The National Bank of Florida . . . . President, any Vice President, or Cashier The National Mohawk River Bank of Fonda The First National Bank of Forestville The Fort Edward National Bank . . . Citizens First National Bank of Frankfort Chairman of the Board, President, any Vice President, or Cashier The Franklin Square National Bank President, any Vice President, or Cashier The Union National Bank of Franklinvillc President, any Vice President, or Cashier Citizens Trust Company of Fredonia, New York President, any Vice President, Cashier, or any Assistant Cashier The National Bank of Fredonia President, any Vice President, or Cashier The Citizens National Bank of Freeport The Union National Bank of Friendship President, any Vice President, or Cashier The Fultonville National Bank . The Gainesville National Bank . President, any Vice President, or Cashier Garden City Bank and Trust Company The First National Bank of Glen Cove . President, any Vice President, or Cashier The First National Bank of Glen Head . The Goshen National Bank . . . . W. R. Wells, Cashier First National Bank in Gouverneur . Nelson R. Caswell, President NEW YORK (Continued) Bank or Trust Company Place Officers Authorized to Cast Vote Grand Gorge Granville Greene Greenport Greenport Greenwich Greenwood Groton The First National Bank of Grand Gorge . The Washington County National Bank of Granville First National Bank in Greene The First National Bank of Greenport The Peoples National Bank of Greenport . The First National Bank of Greenwich The First National Bank of Greenwood The First National Bank of Groton . . . . Hamburg Hamden Hamilton The People's Bank of Hamburgh . The First National Bank of Hamden The National Hamilton Bank . . Hammond Hammondsport The Citizens National Bank of Hammond The Bank of Hammondsport . . . . Hampton Bays Hancock Harrison Harrisville Hartsdale Hartwick Hastings-uponHudson Haverstraw Hermon Henvelton Ilieksville Highland Highland Falls Hobart Holcomb Holland Patent; The The The The The The Homer Horseheads Hudson Falls lluntington llion hiterlaken Inwood Irvington Islip Jeffersonville Jordan Katonah Keeseville Kejrhonkson Kinderhook Kings Park Kingston Lackawanna Lacona La Fargeville Lake George Lake Ronkonkoma Lancaster Liberty Lindenhurst . Hampton Bays National Bank First National Bank of Hancock First National Bank of Harrison . First National Bank of Harrisville Hartsdale National Bank . Hartwick National Bank . . . . . President, any Vice President, or Cashier D. D. Nelson, Cashier Cashier G. C. Adams, President Irving L. Price, Cashier Judson Edie, President President, any Vice President, Cashier, O. O. Rhodes, Assistant Cashier, or M. M. Gale, Assistant Cashier President, or Cashier President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier Robert Smith, Vice President President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Fred E. Whipple, Cashier President, any Vice President, or Cashier H. D. Bilderbeck, Cashier The First National Bank of Hastings-upon-Hudson . The National Bank of Haverstraw and Trust Company . H. N. Wood, President Geo. N. Risley, Cashier The First National Bank of Hermon The First National Bank of Heuvelton Cashier The Long Island National Bank of Hieksville J. W. Feeter, a Director The First National Bank of Highland Frederick R. Fitchett, President First National Bank in Highland Falls President, any Vice President, or Cashier The National Bank of Hobart The Hamlin National Bank of Holcomb The First National Bank of Holland Patent . . . . President, any Vice President, Cashier, or Assistant Cashier The Homer National Bank President, any Vice President, or Cashier The First National Bank of Horseheads F. J. Campbell, President The Peoples National Bank of Hudson Falls . . . . President, any Vice President, or Cashier First National Bank and Trust Company of lluntington President, any Vice President, Cashier, or any Assistant Cashier The Manufacturers National Bank of llion . . . . President, any Vice President, or Cashier The Wheeler National Bank of Interlaken . . . . President, any Vice President, or Cashier The First National Bank of Inwood President, any Vice President, or Cashier The Irvington National Bank and Trust Company President, any Vice President, or Cashier The First National Bank of Islip President, any Vice President, or Cashier The First National Bank of Jeffersonville . . . . President, any Vice President, or Cashier The Jordan National Bank Ellery T. Delling, Cashier Northern Westchester Bank President, any Vice President, or Cashier The Keeseville National Bank President, any Vice President, Cashier, or Assistant Cashier The Kerhonkson National Bank . The National Union Bank of Kinderhook . The National Bank of Kings Park . The Rondout National Bank of Kingston . Henry D. Fagher, Cashier The American Bank President, any Vice President, or Cashier The First National Bank of Lacona President, any Vice President, or Cashier The First National Bank of La Fargeville President, any Vice President, or Cashier First National Bank of Lake George . President, any Vice President, or Cashier The The The The National Bank of Lake Ronkonkoma Citizens National Bank of Lancaster National Bank of Liberty . . . First Natio?ial Bank of Lindenhnrst Joseph F. Schaefer, President President, any Vice President, or Cashier George Pebler, Cashier NEW YORK Bank or Trust Company Place Lisbon Lisle Livingston Manor Livonia Locke Long Beach Lowville Lynbrook Lyons Lyons Falls Mahopac Malone Malone Manhasset Marathon Marcellus Margaretville Marion Marlboro Massena Mattituck Maybrook Mayville Merrick Mexico Middleburgli Middleville Milford Millbrook Millerton (Continued) Officers Authorized to Cast Vote The First National Bank of Lisbon The First National Bank of Lisle E. E. Jones, Cashier President, any Vice President, or Cashier The The The The The The President, any Vice President, or Cashier Livingston Manor National Bank Stewart National Bank of Livonia Citizens Bank of Locke, N. Y National City Bank of Long Beach Black River National Bank of Lowville . . . . Peoples National Bank and Trust Company of Lynbrook The Lyons National Bank The Lyons Falls National Bank The Mahopac National Bank The Citizens National Bank of Malone The Farmers National Bank of Malone First National Bank and Trust Company of Manhasset The First National Bank of Marathon The First National Bank of Marcellus The Peoples National Bank of Margaretville . . . . The First National Bank of Marion President, any Vice President, or Cashier President William F. Ploch, Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Edward S. A gar, President J. M. Cantwell, President President, any Vice President, or Cashier President, any Vice President, or Cashier President J. C. Parsons, President Frank Kettle, Cashier President, any Vice President, Cashier, or Assistant Cashier The First National Bank of Marlboro J. F. Wygant, President The First National Bank and Trust Company of Massena President The Massena Banking and Trust Company . . . . The Mattituck National Bank and Trust Company President, any Vice President, or Cashier The Maybrook National Bank •John F. Shields, President The State Bank of Mayville, Mayville, New York . . President, any Vice President, or Cashier The First National Bank of Merrick Frederick H. Buss, Cashier The First National Bank of Mexico ('. A. Peck, Cashier The First National Bank of Middleburgli W. G. Beekman, Cashier The Middleville National Bank President, any Vice President, or Cashier The Milford National Bank President, any Vice President, or Cashier Bank of Millbrook President, Vice President, or Cashier The Millerton National Bank President, any Vice President, Cashier, or Frank A. Hotehkiss, President The First National Bank of Milton Arthur B. Merritt, Cashier The Central National Bank of Mineola President, any Vice President, or Cashier First National Bank of Minoa President, Vice President, or Cashier First National Bank in Montgomery President, any Vice President, or Cashier Montour National Bank in Montour Falls . . . . The First National Bank of Moravia The First National Bank of Morris President, any Vice President, or Cashier The Frontier National Bank of Morristown . . . . President, any Vice President, or Cashier The First National Bank of Mormville H. C. Wood, President Trust Company of Northern Westehester Nanuet National Bank President, any Vice President, or Cashier The First National Bank of Narrowsburg President, any Vice President, or Cashier The First National Bank of Newark Valley . . . . President, any Vice President, or Cashier President, any Vice President, or Cashier The National Bank of New Berlin The First National Bank of New Hartford . . . . President, any Vice President, or Cashier The Huguenot National Bank of New Paltz . . . . President, any Vice President, or Cashier President, any Vice President, or Cashier The Nichols National Bank President, any Arice President, or Cashier The First National Bank of Norfolk The Bank of North Collins The North Creek National Bank President, any Vice President, or Cashier The First National Bank and Trust Company of Northport The North Syracuse National Bank Milton Mineola Minoa Montgomery Moutour Falls Moravia Morris Morristown Morrisville Mount Kisco Nanuet Narrowsburg Newark Valley New Berlin New Hartford New Paltz Nichols Norfolk North Collins North. Creek Northport North Syracuse North The First National Bank of North Tarrytown . . . . President Tarry town The Oceanside National Bank (P. O., Rockville Centre, Oceanside N. Y.) President, any Vice President, or Cashier Odessa The First National Bank of Odessa . President, any Vice President, or Cashier NEW YORK (Continued) Place Bank or Trust Company Officers Authorized to Cast Vote Old Forge Olean The First National Bank of Old Forge Olean Trust Company . . . . Oneonta The Citizens National Bank and Trust Company of Oneonta State Bank of Ontario Bank of Orchard Park The First Trust and Deposit Company of Oriskany Falls, N. Y " The First National Bank of Ovid . . The First National Bank of Owego . The Owego National Bank . . . . The National Bank of Oxford The First National Bank of Painted Post The Peoples National Bank of Patchogue The National Bank of Pawling . President, any Vice President, or Treasurer Patrick Savage, Cashier President, any Vice President, or Cashier T. H. Reddish, Vice President The Harbor National Bank of Port Washington . The Citizens National Bank of Potsdam . The First National Bank of Ravena The Red Creek National Bank The First National Bank of Red Hook The Redwood National Bank The First National Bank of Remsen . The First National Bank of Rhinebeck President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier The First National Bank of Richfield Springs The First National Bank of Roosevelt The First National Bank & Trust Company of Roseoe The Roslyn National Bank & Trust Company . The National Bank of Roxbury The Peconic Bank The First National Bank of St. Johnsville . The St. Regis Falls National Bank Geo. T. Brockway, President President President, any Vice President, or Cashier President, any Vice President, or Cashier Arthur F. Bonton, President Ontario Orchard Park Oriskany Falls Ovid Owego Owego Oxford Painted Post Patchogue Pawling Pearl River Pearl River Peekskill Perry Perry Phelps Philmont Pine Bush Pine Plains Pittsford Pleasantville Poland Port Byron Port Henry Port Jefferson Port Jervis Port Leyden Port Washington Potsdam Ravena Red Creek Red Hook Redwood Remsen Rhinebeck Richfield Springs Roosevelt Roscoe Roslyn Roxbury Sag Harbor St. Johnsville St. Regis Falls Salamanca Salem Saranac Lake Saranac Lake Saugerties Savannah President, any Vice President, or Cashier President, any Vice President, Secretary, or Treasurer M. C. Hemstreet, Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or Assistant Cashier First National Bank and Trust Company of Pearl River . President, any Vice President, or Cashier State Bank of Pearl River, New York President, any Vice President, or Cashier The Peekskill National Bank and Trust Company . The Citizens Bank of Perry President, any Vice President, or Cashier The First National Bank of Perry President, any Vice President, or Cashier The National Bank of Phelps Philmont National Bank The National Bank of Pine Bush The Stissing National Bank of Pine Plains . . . . President, any Vice President, or Cashier The Pittsford National Bank President, any Vice President, or Cashier The First National Bank of Pleasantville President, any Vice President, or Cashier The Citizens National Bank of Poland President, any Vice President, Cashier, or Stephen R. Brayton, President The National Bank of Port Byron President, any Vice President, or Cashier The Citizens' National Bank of Port Henry The First National Bank of Port Jefferson . . . President Francis A. Kline The National Bank and Trust Company of Port Jervis President The Port Leyden National Bank President, any Vice President, Cashier, or George W. Niece, Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier The First National Bank of Salamanca The Salem National Bank Adirondack National Bank and Trust Company of Saranac Lake . . President President, any Vice President, or Cashier The Saranac Lake National Bank any Vice President, Cashier, or The First National Bank & Trust Company of Saugerties President, Stephen Cordes, Director The National Bank of Savannah 10 NEW YORK (Continued) Place Bank or Trust Company Officers Authorized to Cast Vote Sayville The Oystermen's Bank and Trust Company Schenevus Schuylerville Sea Cliff Seaford Sharon Springs Sherburne Sherrill Sidney Silver Creek Silver Creek Silver Springs Skaneateles The Schenevus National Bank The National Bank of Schuylerville . . . The State Bank of Sea Cliff, N. Y The Seaford National Bank The First National Bank of Sharon Springs The Sherburne National Bank The First National Bank of Sherrill . . . First National Bank in Sidney The First National Bank of Silver Creek . . . The Silver Creek National Bank The Silver Springs National Bank National Bank and Trust Company of Skaneateles Smithtown Branch Southampton South Fallsburg South Otselic Sparkill Spring Valley Springville Stamford Stony Brook Tarrytown Tarrytown Theresa Ticonderoga Tuekahoe Tully Tupper Lake Tuxedo Unadilla Vernon Walden Wallkill Walton Wappingers Falls Warrensburg Warwick Wa shingtonville Waterloo Waterville Watkins Glen Wa tkins Glen Waverly Wayland Weedsport Wells Wellsville Westbury Westbury Westfield Westhampton Beach West Hempstead Westport West Winfield Bank of Smithtown The Southampton Bank The South Fallsburg National Bank The Otselic Valley National Bank of South Otselic The First National Bank of Sparkill Eamapo Trust Company he Citizens National Bank of Springville The National Bank of Stamford Bank of Suffolk County The Tarrytown National Bank and Trust Company . Washington Irving Trust Company The Farmers National Bank of Theresa The Ticonderoga National Bank The Crestwood National Bank in Tuekahoe . The First National Bank of Tully The Tupper Lake National Bank The National Bank of Tuxedo The Unadilla National Bank The National Bank of Vernon The First National Bank and Trust Company of Walden The Wallkill National Bank The First National Bank and Trust Company of Walton The National Bank of Wappingers Falls . The Emerson National Bank of Warrensburgh The First National Bank of Warwick . entral National Bank of Washingtonville The First National Bank of Waterloo . The National Bank of Waterville . . . . len National Bank of Watkins Glen Watkins State Bank The Citizens National Bank of Waverly The First National Bank of Wayland . The First National Bank of Weedsport The Hamilton County National Bank of Wells The Citizens National Bank of Wellsville . 3ank of Westbury Trust Company . . . . The Wheatley Hills National Bank of Westbury The National Bank of Westfield Seaside Bank The West Hempstead National Bank . The Lake Champlain National Bank of Westport The West Winfield National Bank . . . . 11 Chairman, President, any Vice President, or Secretary President, any Vice President, or Cashier President, any Vice President, or Cashier President President, any Vice President, or Cashier President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, W. L. Cavell, President, or W. B. De Witt, Chairman of Board President, any Vice President^ or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Frank E. Cox, Cashier President, any Vice President, or Cashier President, any Vice President, or Treasurer President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, or Cashier President, any Vice President, or Treasurer President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President Elmer Dell President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Jas. A. Emerson, Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Frank M. Wall, Cashier President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier F. W. Crandall, President Stephen A. Bedell, President President, any Vice President, or Cashier President, any Vice President, Cashier, or Assistant Cashier NEW YORK (Continued) Bank or Trust Company Place Whitehall Whitesboro Whitesville Whitney Point Williston Park The The The The The Willsboro Windham Windsor Winthrop Wolcott Woodridge Wyoming The The The The The The The Officers Authorized to Cast Vote Merchants National Bank of Whitehall . . . . President, any Vice President, or Whitestown National Bank of Whitesboro President, any Vice President, or First National Bank of Whitesville President, any Vice President, or First National Bank of Whitney Point . . . . William Denning, President Williston National Bank of Williston Park President, any Vice President, or ( P . 0., East Williston, N. Y.) Essex County National Bank of Willsboro . . . . President, any Vice President, or National Bank of Windham President, any Vice President, or Windsor National Bank First National Bank of Winthrop President, any Vice President, or First National Bank of Wolcott President, any Vice President, or First National Bank of Woodridge President, any Vice President, or National Bank of Wyoming President, any Vice President, or Cashier Cashier Cashier Cashier Cashier Cashier Cashier Cashier Cashier Cashier NEW YORK CITY Brooklyn The Bensonhurst National Bank of Brooklyn in New York The Flatbush National Bank of Brooklyn in New York . President, or any Vice President Manhattan The Harbor State Bank President, any Vice President, or Cashier Queens College Point College Point National Bank of New York The Fidelity National Bank in New York Elmhurst Springfield The Springfield Gardens National Bank of New York Gardens Richmond Mariner Harbor West New Brighton Oscar J. Goerke, Cashier President, any Vice President, or Cashier The Mariner Harbor National Bank President, any Vice President, or Cashier West New Brighton Bank President, any Vice President, or Cashier • 12 FEDERAL RESERVE BANK OF NEW YORK Nomination for Class "A" Director, 1936 GROUP NO. 3 DISTRICT NO. 2 At a meeting of the Board of Directors of the (Name of Bank) .duly called and held on the Of day (City or Town and Sta.te) of 1936, on motion duly made and seconded, it was "RESOLVED, That , of whose occupation is , be, and he is hereby, nominated by this bank as a candidate for director of class A of the Federal Reserve Bank of New York, and the cashier or other officer of this bank is hereby authorized, empowered and directed to send a certified copy of this resolution to the Deputy Chairman of the Board of Directors of the Federal Reserve Bank of New York." I hereby certify that the foregoing is a true and correct copy of a resolution of the Board of Directors of this bank duly adopted on the date specified. (SEAL OF BANK) (Official signature) To OWEN D. YOUNG, DEPUTY CHAIRMAN OF THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF NEW YORK. (Title) FEDERAL RESERVE BANK OF NEW YORK Nomination for Class " B " Director, 1936 DISTRICT NO. 2 • GROUP NO. 3 At a meeting of the Board of Directors of the (Name of Bank) of duly called and held on the day (City or Town and State) of 1936, on motion duly made and seconded, it was "RESOLVED, That _ , of whose occupation is , be, and he is hereby, nominated by this bank as a candidate for director of class B of the Federal Reserve Bank of New York, and the cashier or other officer of this bank is hereby authorized, empowered and directed to send a certified copy of this resolution to the Deputy Chairman of the Board of Directors of the Federal Reserve Bank of New York." I hereby certify that the foregoing is a true and correct copy of a resolution of the Board of Directors of this bank duly adopted on the date specified. (SEAL OF BANK) (Official signature) To OWEN D. YOUNG, DEPUTY CHAIRMAN OP THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF NEW YORK. <«£,)" MR. OWEN D. YOUNG, Deputy Chairman, Board of Directors Federal Reserve Bank of New York New York, N. Y. FEDERAL RESERVE BANK OF NEW YORK September 30, 1936. To the Member Bank in Group 3 Addressed: Reference is made to circular No. 1701 dated September 30, 1936, a copy of which is enclosed, regarding nomination and election of directors of the Federal Reserve Bank of New York^ Each member bank has heretofore been requested to designate, by title only, several officers to cast the vote of the member bank in elections of class A and class B directors of this bank. This uniform plan of designation had been agreed upon by the chairmen of the boards of directors of all the Federal Reserve banks and approved by the Board of Governors of the Federal Reserve System; and was for the purpose of avoiding the inconvenience incident to the designation of a single officer both by name and title, which made necessary the adoption of a new resolution in the event of his promotion or resignation or if for some other reason he was unable to cast the vote. As our records do not indicate that your bank has heretofore furnished the Chairman of the Board of Directors of this bank with a certified copy of resolution designating officers by title only, I am also enclosing two copies of a form of such resolution, with the request that this form of resolution be adopted by the board of directors and that a certified copy be sent to me. Owen D. Young, Deputy Chairman of the Board. Encs. FEDERAL RESERVE BANK OF NEW YORK Designation of Officers Authorized to Cast Vote of Member Bank in Elections of Directors of Federal Reserve Bank of New York DISTRICT NO. 2 At a meeting of the Board of Directors of the (Name and Location of Bank) duly called and held on the duly made and seconded, it was day of , 193 , on motion "RESOLVED, That the president, any vice president, or the cashier of this bank, or (If designation of some officer not included in those mentioned is desired, insert his title only here) of this bank, be and any one of them is hereby authorized, empowered and directed to cast the vote of this bank for class A and class B directors of the Federal Reserve Bank of New York, in accordance with the provisions of section 4 of the Federal Reserve Act, as amended. "RESOLVED FURTHER, That the authority hereby granted shall continue in force until revoked by the Board of Directors of this bank and that such authority heretofore conferred on any officer of this bank is hereby revoked.'' I hereby certify that the foregoing is a true and correct copy of a resolution of the Board of Directors of this bank, duly adopted on the date specified. Dated the day of , 193 (Official signature) (SEAL OF BANK) '"(Title*)' To DEPUTY CHAIRMAN OF THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF NEW YORK. Designation by Holding Company Affiliate* of Member Bank to Participate in Nomination and Election of Directors of Federal Reserve Bank of New York " W H E R E A S this organization is a holding company affiliate, as defined in section 2 (c) of the Banking Act of 1933, as amended by section 301 of the Banking Act of 1935, with respect to only the following named member banks of the Federal Reserve System located in the Second Federal Reserve District: and "WHEREAS this organization desires to designate one of said member banks to participate in the nomination and election of directors of Federal Reserve Bank of New York to be held as set forth in circular No. 1701 of said Federal Reserve Bank dated September 30, 1936, "NOW, THEREFORE, BE IT RESOLVED "That (name of member bank) Of (address of member bank) be and it hereby is designated pursuant to section 4 of the Federal Reserve Act, as amended, to participate in the nomination and election of directors of Federal Reserve Bank of New York to be held as set forth in circular No. 1701 of said Federal Reserve Bank dated September 30, 1936." The undersigned hereby certifies that the foregoing is a true and correct copy of preambles and a resolution duly adopted at a meeting of the (board of directors or other governing body) Of (name and location of holding company affiliate) duly called and held on the day of , 1936, at which a quorum was present and voting, and that said preambles and resolution have not been revoked or modified and are now in full force and effect. IN WITNESS WHEREOF I have hereunto subscribed my name and affixed the seal of the said organization this day of , 1936. (Cashier or Secretary) To OWEN D. YOUNG, DEPUTY CHAIRMAN OF THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF NEW YORK. * Section 2 (c) of the Banking Act of 1933, as amended by section 301 of the Banking Act of 1935, defines the term "holding company affiliate" as follows: (c) The term "holding company affiliate" shall include any corporation, business trust, association, or other similar organization— (1) Which owns or controls, directly or indirectly, either a majority of the shares of capital stock of a member bank or more than 50 per centum of the number of shares voted for the election of directors of any one bank at the preceding election, or controls in any manner the election of a majority of the directors of any one bank; or (2) For the benefit of whose shareholders or members all or substantially all the capital stock of a member bank is held by trustees. Notwithstanding the foregoing, the term "holding company affiliate*' shall not include (except for the purposes of section 23A of the Federal Eeserve Act, as amended) any corporation all of the stock of which is owned by the United States, or any organization which is determined by the Board of Governors of the Federal Eeserve System not to be engaged, directly or indirectly, as a business in holding the stock of, or managing or controlling, banks, banking associations, savings banks, or trust companies.