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F E D E R A L R E S E R V E BANK O F NEW YORK r Circular No. 3 6 9 1 T I April 18,1951 j Nomination and Election of Class B Director Term Ending December 31, 1952 (By member banks in Group 1 only, that is, member banks having capital and surplus of $10,000,000 or over) To Member Banks in the Second Federal Reserve District: In accordance with the provisions of section 4 of the Federal Reserve Act, as amended, and Circular No. 3672, dated March 16, 1951, in regard to election of a director of this Bank for the term of office ending December 3 1 , 1 9 52 , to succeed L e w is H . B r o w n , formerly class B director, there is given on page 2 the name of the candidate nominated for such director, indicating by whom nominated. To each bank in Group 1, except banks affiliated with holding company affiliates which have desig nated another bank to participate in this election,* the following are being sent with this circular: (a) Preferential ballot for use in voting for candidate for class B director. (b) Colored ballot envelope in which the ballot is to be sealed. (c) Certificate envelope bearing on its face the certificate in regard to the vote. (d) Addressed envelope in which all of the foregoing should be returned to me. The ballot and certificate on the certificate envelope must be executed by an officer who has been authorized to cast the vote. A list showing the officers designated for this purpose by the respective member banks in Group 1 was attached to the above mentioned circular dated March 16, 1951, and a similar list amended to April 17, 1951, is given on page 3 of this circular. In order that the ballot may be secret, the name of the bank and the name and title of the voting officer should not be written on the ballot, but should be written only on the certificate envelope. (1) After the preferential ballot has been marked, (2) It should be placed in the colored ballot envelope and that envelope sealed. (3) Then the sealed colored ballot envelope should be placed within the certificate envelope, and the certificate envelope should be sealed and the certificate thereon executed. (4) Then the certificate envelope containing the sealed colored ballot envelope should be returned to me in the enclosed addressed envelope. The law provides that the ballot shall be cast within 15 days after receipt of the list of candidates. The polls will open on April 19, 1951, and will close at 12 o’clock noon, on Friday, May 4, 1951, and in order to be counted as valid the ballot must be received by me at or before the latter time. Upon the closing of the polls the ballot box will be opened in the board room of this Bank, the sealed envelopes containing the ballots will be opened, the votes counted and checked by tellers and the result of the election announced. The candidate is invited to be present or represented on this occasion. The banks in Groups 2 and 3 will not vote in this election, and this circular is sent to them, without forms for their information only. R obert T. S t e v e n s , Chairman of the Board. * As indicated in Circular No. 3672, dated March 16, 1951, section 4 o f the Federal Reserve Act, as amended, provides 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 the election o f directors o f Federal Reserve Banks shall be confined to one o f such banks, and the holding company affiliate may designate the bank to participate in such election. Consequently, the ballot o f any bank in Group 1 so affiliated cannot be counted as valid unless there is on file with me evidence that such bank has been so designated. Candidate for Class B Director CLARENCE FRANCIS, NEW Y O R K , N. Y . Chairman of the Board, General Foods Corporation, New York, N. Y. C la r e n c e F r a n c is was born in Port Richmond, Staten Island, New York, in 1888. He was graduated from Amherst College in 1910, and served on its board of trustees from 1944 through 1950. In 1950 he received the honorary degrees of Doctor of Commercial Science from New York University, and Doctor of Laws from Trinity College, Hartford, Connecticut. He entered business with Corn Products Refining Company in 1910. In 1919, he became national sales manager of the Cereal Division of the Ralston Purina Company, St. Louis, Missouri. In 1924, he joined General Foods Corporation as domestic sales manager of the Postum Company. Successively, Mr. Francis was vice president, director, and president of Post Products Company, Inc.;and vice president in charge of sales, executive vice president, and president of General Foods Corporation. Since 1943, he has been chairman of the board of directors of General Foods Corporation. Mr. Francis is chairman of the Citizens Advisory Committee on Armed Services Training Installa tions. He is a trustee of the Committee for Economic Development; a member of the board of directors of the Citizens Committee for Reorganization of the Executive Branch of the Government;and a director of the Northern Pacific Railroad, Air Reduction Company, Inc., Mead Corporation, and Mutual Life Insurance Company of New York. He has been a member of the Business Advisory Council of the United States Department of Commerce. He is a director of the Chemical Bank & Trust Company, New York City, but will resign as such if elected a class B director of the Federal Reserve Bank of New York. Nom inated by the follow ing member banks in Group 1 NEW YORK Place Buffalo New York City Bank or Trust Company The Marine Trust Company o f Buffalo Bank o f the Manhattan Company Bank o f New York and Fifth Avenue Bank Bankers Trust Company Central Hanover Bank and Trust Company The Chase National Bank o f the City o f New York Chemical Bank & Trust Company City Bank Farmers Trust Company The Commercial National Bank and Trust Company o f New York The First National Bank o f the City o f New York Guaranty Trust Company o f New York Irving Trust Company J. P. Morgan & Co. Incorporated The National City Bank o f New York The New York Trust Company The Public National Bank and Trust Company o f New York Rochester Lincoln Rochester Trust Company 2 1 9 5 1 E lection o f Class B D irector Term Ending December 31, 1952 List of 23 Member Banks in Group 1 Revised to April 17, 1951 Group 1 consists of member banks having capital and surplus of $10,000,000 or over N EW JERSEY Bank or Trust Company Place Newark Officers Authorized to Cast Vote Fidelity Union Trust C om p a n y ..................................... . President, or any Vice President NEW YORK Buffalo Manufacturers and Traders Trust Company Buffalo The Marine Trust Company o f Buffalo New York City Bank o f the Manhattan C o m p a n y ............................... . Honorary Chairman, Chairman, Vice Chairman, or President Bank o f New York and Fifth Avenue Bank . . President, any Vice President, or Treasurer . . . . President, any Vice President, or Secretary . . . President, or any Vice President Bankers Trust C om p a n y.................................................. . President, or any Vice President Central Hanover Bank and Trust Company . President, or any Vice President designated by the President The Chase National Bank o f the City o f New York . . Chairman o f the Board o f Directors, Presi dent, any Vice President, or Cashier Chemical Bank & Trust C o m p a n y ............................... . Chairman, President, or any Vice President City Bank Farmers Trust Com pany............................... . President, any Vice President, or Secretary The Commercial National Bank and Trust Company o f New Y o r k .............................................................. Corn Exchange Bank Trust C om pan y......................... . Chairman, Vice Chairman, President, or any Vice President The First National Bank o f the City o f New York . President, any Vice President, or Cashier Guaranty Trust Company o f New York . . . . . . President, any Vice President, or Secretary Irving Trust C o m p a n y .................................................. . Chairman, or in his absence, the President Manufacturers Trust C o m p a n y ..................................... . Chairman o f the Board, Vice Chairman o f the Board, President, Chairman o f the Trust Committee, or any Vice President The Marine Midland Trust Company o f New York Rochester . Chairman o f the Board, Vice Chairman o f the Board, President, any Vice President, or Cashier . . Chairman o f the Board, President, any Vice President, or Chairman o f the Executive Committee J. P. Morgan & Co. I n c o r p o r a t e d ............................... . President, or any Vice President The National City Bank o f New Y o r k ......................... . President, any Vice President, or Cashier The New York Trust C om p a n y..................................... . President, or any Vice President The Public National Bank and Trust Company o f New Y o r k ..................................................................... . President, any Vice President, or Cashier United States Trust Company o f New York . President, or any Vice President . Lincoln Rochester Trust C o m p a n y ............................... 3 . President, or any Vice President FEDERAL RESERVE BANK O F NEW YORK Preferential Ballot April 18, 1951 Group No. 1 This ballot and the certificate on the certificate envelope must be executed by an officer who has been authorized to cast the vote and whose appointment has been duly certified. The polls will open on April 19, 1951, and will close at 12 o ’clock noon on Friday, May 4, 1951. This ballot must be returned so as to reach me before the latter time. Failure to observe instructions will invalidate this ballot. R obert T. S t e v e n s , Chairman o f the Board. V O T E F O R CLASS B D IR E C T O R OF F E D E R A L R E S E R V E BAN K O F N E W Y ORK for term o f office ending December 31, 1952 C a n d id a t e C larence F rancis , New York, N. Y. Chairman of the Board. General Foods Corporation, New York, N. Y. (Indicate choice by X below) o D IR E C TIO N S F O R V O T IN G 1. Mark this preferential ballot to indicate choice. 2. Place preferential ballot so marked in the colored ballot envelope and seal that envelope. 3. Place sealed colored ballot envelope in certificate envelope and seal certificate envelope and execute certificate thereon. 4. Return sealed and executed certificate envelope (with sealed colored ballot envelope enclosed therein) in envelope addressed to Mr. Robert T. Stevens, Chairman, Board o f Directors, Federal Reserve Bank o f New York, Federal Reserve P. O. Station, New York 45, N. Y. BALLOT ENVELOPE E l e c t i o n o f C l a s s B D ir e c t o r of Federal Reserve Bank of New York The marked preferential ballot should be placed in this envelope, and this envelope should then be sealed and placed in the certificate envelope. C E R T IF IC A T E E N V E L O P E This Envelope Should Contain Only Ballot in Sealed Colored Envelope It W ill Not Be Opened U n til Polls Close G r o u p N o. 1 ................................................................................................................... ) 1951. (D a te ) To M b. R obert T. S teven s, Chairman of the Board, Federal Reserve Bank of New York. In accordance with section 4 of the Federal Reserve Act, as amended, I hereby certify that my choice for a class B director of the Federal Reserve Bank of New York for term of office ending December 31, 1952, is as indicated thus (X) in the column of the ballot sealed herein. ’or (N am e o f B ank) (Location o f Bank) ........................................................................................................................................ (S ig n a tu re o f officer designated to vote. See list o f m em ber banks in G rou p 1 in C ircu lar N o. 369 1) ( T I T L E o f V o tin g O fficer) M r . R o b e r t T . St e v e n s , Chairman, Board o f Directors, Federal Reserve Bank of New York, Federal Reserve P. 0 . Station, New York 45, N. Y.
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