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FEDERAL RESERVE BANK OF NEW Y O R K r Circular No. 4 1 4 8 "I L September 24, 1954 J Nomination and Election of Directors T o Member Banks in the Second Federal Reserve D istrict: A n election will be held under the provisions o f section 4 o f the Federal Reserve Act, as amended, to choose successors to the following directors o f this Bank whose terms will expire December 31, 1954: class A director, F. P a l m e r A r m s t r o n g , President, The K eyport Banking Company, Keyport, N. J . , and class B director, J o h n E. B i e r w i r t h , President, National Distillers Products Corporation, 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 will not participate in this election. The classification o f member banks fo r the purpose o f nomination and election o f class A and B directors of the Federal Reserve Bank o f New Y ork is as follow s: Group 1 consists of banks having capital and surplus of $10,000,000 or over; Group 2, o f banks with capital and surplus over $500,000 but less than $10,000,000; and Group 3, of banks having capital and surplus of $500,000 and less (listed on pages 3 -1 0 ). Except in the case o f two or more banks affiliated with the same holding company affiliate,* each bank in Group 3 is permitted to nominate a candidate fo r class A director and a candidate ♦ S ection 4 o f th e F e d e ra l R e s e r v e A c t , as a m en ded , reads in p a rt as f o llo w s : “ . . . Th at whenever any tw o or more member banks within the same Federal reserve district are affiliated with the same holding com pany affiliate, participation b y such member banks in any such nomination or election shall be confined to one o f such banks, which m ay be designated fo r the purpose b y such holding com pany affiliate.” A c c o r d in g ly , banks in G rou p 3 a ffected b y th e fo r e g o in g p r ov ision o f th e la w are requ ested to take p r o m p t a ctio n t o h av e th e app ropria te h o ld in g co m p a n y affiliate design ate, if it h as n o t a lready design ated, o n e o f its affili a ted b a n k s t o pa rticip ate in this n om in a tion and election . for class B director.** The nominations should be made by resolution o f the boards o f directors o f the nominating banks and certified copies o f such resolutions should be sent to me so as to reach me on or before October 26, 1954. The enclosed printed form s show the appropriate form s o f resolution and one copy o f each form should be used in sending certified copies of the resolutions to me. On October 29, 1954, copies of the list of candidates (indicating by whom nominated) and preferential ballots will be mailed so that, in the normal course o f the mails, they will be received by all banks in Group 3 on November 1, 1954. The law provides that the ballot shall be cast within 15 days after receipt of this list. The polls will open on November 1, 1954, and will close at 12 o ’clock noon on Tuesday, November 16, 1954. Upon the closing o f the polls the ballot box will be opened in the board room o f this Bank, the votes counted and checked by tellers, and results o f 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 fo r the closing of the polls (i.e., at or before 12 o ’clock noon on Tuesday, November 16, 1954). The list on the following pages shows the officers heretofore designated fo r this purpose by the respective banks in Group 3. Because banks in Groups 1 and 2 will not 'participate in this election, this circular is sent to them without form s fo r their information only. E. C r a n e , Chairman o f the Board. Jay ♦♦Section 4 o f th e F ed era l R eserve A c t , as am en ded , reads in p a rt as fo llo w s : ‘ ‘ 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 Representative in Congress shall be a member of the Board of Governors of the Federal Reserve System or an officer or a director of a Federal reserve bank.” I n a re s o lu tio n a d op ted D e c e m b e r 23, 1915, th e B o a rd o f G o v e rn o rs o f th e F ed era l R e s e rv e S ystem exp ressed th e o p in io n “ that p erson s h o ld in g p olitica l o r p u b lic office in the service o f th e U n ited States, o r o f a n y State, te rrito ry , co u n ty , d istrict, p olitica l su b d ivision , o r m u n icipa lity th ereof, o r a ctin g as m em b ers o f p olitica l party c o m m itte e s, ca n n o t con sisten tly w ith th e spirit and u n derlyin g p rin cip les o f th e F ed era l R e s e rv e A c t , serve as d ire cto rs o r o fficers o f F ed era l R e s e rv e B anks.” O n D e ce m b e r 28, 1915, the B o a rd o f G o v e rn o rs o f the F ed eral R e s e r v e S ystem res o lv e d th a t “ n ation a l ba n k exa m in ers shall n o t h erea fter b e elected * ♦ * t o d irectorsh ip s in F e d e ra l R e se rv e B a n k s.” U n d e r date o f J u ly 2, 1925, th e B o a r d o f G o v e rn o rs o f th e F ed era l R e s e rv e S ystem a d vised it h ad “ rea ch ed th e co n clu s io n th at a p e r so n w h o s e s o le o ccu p a tio n is th at o f o ffice r o f an in su ra n ce c o m p a n y is n o t elig ib le f o r ele ctio n as a cla ss B d ir e cto r o f a F e d e ra l R e s e rv e B a n k,” a n d o n O c t o b e r 18, 1939, th e B o a rd a d vised “ th at a p e r s o n w h o s e s o le o ccu p a tio n is th at o f p resid en t o f a F ed era l sa vin g s a n d lo a n a ssocia tio n a n d w h o h a s b e e n se rv in g as a cla ss A d ire cto r is n o t n o w elig ib le f o r e le ctio n a n d s erv ice a s a cla s s B d ir e cto r.” 2 1 9 5 4 E lection o f D irectors List o f 411 Member Banks in Group 3 Revised to September 22, 1954 G ro u p 3 con sists o f m e m b e r ban ks h a vin g ca p ita l and su rp lu s o f $500,000 and less CONNECTICUT Name of Bank or Trust Company Place Bethel Ridgefield South Norwalk Stamford Westport The Bethel National B a n k ..................................... The First National Bank and Trust Company of Ridgefield.................................................. The City National Bank of South Norwalk . The Security Bank and Trust Company . First National Bank in W e s t p o r t ......................... Officers Authorized to Cast Vote . President, any Vice President, or Cashier . . . . Cashier President, any Vice President, or Cashier President, or Treasurer President, any Vice President, or Cashier NEW JERSEY Allendale Allentown Atlantic Highlands Bayonne Belmar Belvidere Blairstown Bloomfield Bloomsbury Bogota Bogota Boonton Boonton Bound Brook Bradley Beach Branchville Butler The First National Bank of Allendale......................... The Farmers National Bank of Allentown . . . . . President, Vice President, or Cashier . President, Vice President, or Cashier The Atlantic Highlands National B an k ......................... The Broadway National Bank of Bayonne . The Belmar National B a n k ........................................... The First National Bank of B elvid ere......................... The First National Bank of Blairstown......................... Community Trust Company of Bloomfield . . . . The Citizens National Bank of Bloomsbury Bank of B o g o t a .............................................................. The Bogota National B a n k ............................................ The Boonton National B a n k ..................................... Boonton Trust Company.................................................. Bound Brook Trust C o m p a n y ..................................... The First National Bank of Bradley Beach . The Branchville National B a n k ..................................... The First National Bank of B utler............................... . . . . . . . . . . . . . . . Caldwell The Citizens National Bank and Trust Company of C aldw ell..................................................................... Hunterdon County Trust Company............................... Carteret Bank and Trust Companv............................... First National Bank in Carteret..................................... The First National Bank of Cedar Grove . . . . Bank of A llw o o d .............................................................. The Clinton National B a n k ............................................ The First National Bank of Clinton............................... Closter National Bank and Trust Company . . . . The First National Bank of Cranbury......................... The First National Bank of Dunellen......................... The People’s Trust Company......................... Califon Carteret Carteret Cedar Grove Clifton Clinton Clinton Closter Cranbury Dunellen Dunellen Edgewater Englishtown Farmingdale Flemington Fords The Edgewater National B a n k ..................................... The The The The First National Bank of Englishtown . . . . First National Bank of Farmingdale . . . . Flemington National Bank and Trust Company . Fords National B a n k ............................... 3 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 President, any Vice President, or Cashier President, any Vice President, or Treasurer President, any Vice President, or Treasurer President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or the Assistant to the President . 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, any Vice President, or Cashier 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, Treasurer, or Assistant 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 NEW JE R SE Y (Continued) Place Name of Bank or Trust Company Officers Authorized to Cast Vote Fort Lee Fort Lee First National Bank in Fort L e e ..................................... Fort Lee Trust Company........................................................ Franklin Freehold Frenchtown Gladstone Hackettstown Haledon Hamburg Hope Jamesburg Keansburg Keyport Keyport Sussex County Trust Company........................................... The Central National Bank of Freehold......................... The Union National Bank of Frenchtown......................... Peapack-Gladstone B a n k ........................................................ The Hackettstown National B a n k ..................................... Haledon National B a n k ............................................ The Hardyston National Bank of Hamburg . . . . The First National Bank of H o p e ..................................... The First National Bank of Jamesburg............................... The Keansburg National B a n k ............................... The Keyport Banking Company........................................... The People’s National Bank of K ey p o rt......................... Lambertville Little Falls Livingston Long Branch Long Branch Madison Manasquan Matawan Matawan Milford Milltown Netcong Oradell Palisades Park Park Ridge Phillipsburg Plainfield Raritan Ridgefield Park Rochelle Park Roselle Sayreville Sea Bright Secaucus Somerville South Amboy South Orange South Plainfield Springfield Spring Lake Sussex Washington West Orange Westwood Whippany The Lambertville National B a n k ........................................... The Little Falls National B a n k ........................................... Livingston National B a n k .................................................. The Long Branch Banking C o m p a n y ............................... Long Branch Trust C om pany............................................ The First National Bank of Madison............................... Manasquan National B a n k .................................................. The Farmers and Merchants National Bank of Matawan The Matawan B a n k .............................................................. The First National Bank of M ilford..................................... The First National Bank of M illtown............................... The Citizens National Bank of N etcon g......................... The First National Bank of O radell............................... The National Bank of Palisades P a r k ............................... The First National Bank of Park R id g e......................... Phillipsburg Trust Company.................................................. Mid-City Trust C o m p a n y .................................................. Raritan State B a n k .............................................................. Wyckoff Ridgefield Park Trust C o m p a n y ..................................... Rochelle Park Bank, of Rochelle Park, N. J...................... The First National Bank of R o selle............................... The First National Bank of Sayreville......................... The Sea Bright National B a n k ........................................... Peoples National Bank of Secaucus..................................... The Second National Bank of Somerville......................... The First National Bank of South A m boy......................... South Orange Trust C o m p a n y ........................................... The First National Bank of South Plainfield . . . . The First National Bank of Springfield......................... First National Bank of Spring L a k e ..................................... The Farmers National Bank of Sussex............................... Washington Trust Company, of Washington, N. J. . President, any Vice President, or Cashier President, any Vice President, Cashier, or Secretary and Treasurer President, any Vice President, or Treasurer 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, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or Secretary 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 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 President, any Vice President, or Cashier President, any Vice President, or Treasurer President, any Vice President, or Treasurer President, Cashier, or Secretary President, any Vice President, or Secretary President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, Cashier, or Assistant 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 President, any Vice President, or Cashier The First National Bank of West Orange . . . . President, any Vice President, or Cashier The First National Bank of Westwood............................... President, any Vice President, or Cashier The First National Bank of Whippany............................... The First National Bank of W y c k o f f ............................... President, any Vice President, or Cashier NEW YORK Addison Afton The First National Bank of A ddison......................... First National Bank of A f t o n ..................................... 4 . President, any Vice President, or Cashier . President, any Vice President, or Cashier N E W Y O R K (Continued) p]ace Name of Bank or Trust Company Officers Authorized to Caat Vote Alden Alfred Allegany Amenia Amityville Andes Andover Angola Arcade Ardsley Argyle Athens Atlanta Attica Aurora Avoca Baldwin Ballston Spa Batavia Alden State B a n k ......................................................................................................................................................... University Bank ........................................................................................................................................................ The First National Bank of A llegany................................President, any Vice President, or Cashier The First National Bank of A m en ia................................President, any Vice President, or Cashier The Bank of Am ityville.........................................................President, any Vice President, or Cashier The National Bank of A ndes...................................................President, any Vice President, or Cashier The Andover National B a n k ...................................................Chairman of the Board, President, or Cashier The Evans National Bank of A n g o la ................................ President, any Vice President, or Cashier The Citizens Bank of Arcade...................................................President, any Vice President, or Cashier The First National Bank of A rd sley ................................ President The National Bank of A r g y le .............................................President, any Vice President, or Cashier The Athens National B a n k ................................................... President, any Vice President, or Cashier Atlanta National B a n k .........................................................President, any Vice President, or Cashier The Citizens B a n k ......................................................................................................................................................... The First National Bank of Aurora...................................... President, any Vice President, or Cashier Bank of A v o ca ............................................................................President, any Vice President, or Cashier The Baldwin National Bank and Trust Company . . President, any Vice President, or Cashier The Ballston Spa National B a n k .......................................President, Vice President, or Cashier The First National Bank of B ata via .................................President, any Vice President, Cashier, or Assistant Cashier Batavia Bath Beacon Beacon Belfast Bellport Belmont Blasdell Bolivar Boonville Boonville Brewster Bridgehampton Broadalbin Buffalo Cairo Caledonia Callicoon Cambridge Camden Genesee Trust Company......................................................... President, any Vice President, or Secretary The Bath National B a n k ......................................................... President, any Vice President, or Cashier The Fishkill National Bank of Beacon.................................President, any Vice President, or Cashier The Matteawan National Bank of Beacon.......................... President, any Vice President, or Cashier The First National Bank of B elfa st.......................................President, any Vice President, or Cashier The Bellport National B a n k ................................................... President, any Vice President, or Cashier The State Bank of Belmont, N. Y .......................................... President, any Vice President, or Cashier Bank of B la sd ell...................................................................... President, any Vice President, or Cashier The First National Bank of Bolivar....................................... President, any Vice President, or Cashier The First National Bank of Boonville.................................President, any Vice President, or Cashier The National Exchange Bank of Boonville...........................President, any Vice President, or Cashier The First National Bank of Brewsters . . . . . . President, any Vice President, or Cashier The Bridgehampton National B an k ....................................... President, any Vice President, or Cashier The Broadalbin B a n k ................................................................ President, any Vice President, or Cashier Lincoln National B a n k ..........................................................President, any Vice President, or Cashier The First National Bank of C airo ....................................... President, any Vice President, or Cashier The First National Bank of C a le d o n ia ...........................President, any Vice President, or Cashier First National Bank in C a llicoo n ....................................... President, any Vice President, or Cashier The Cambridge Valley National B a n k ................................. 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 Camillus B a n k .............................................................................President, any Vice President, or Cashier Canaseraga State Bank ............................................................................................................................................ The First National Bank of Candor....................................... President, any Vice President, or Cashier 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 Citizens Bank of Cape Vincent..............................................President, any Vice President, or Cashier The Putnam County National Bank of Carmel . . . President, any Vice President, or Cashier Carthage National Exchange B a n k ....................................... Chairman of the Board, President, any Vice President, or Cashier Camillus Canaseraga Candor Canisteo Canton Canton Cape Vincent Carmel Carthage Castleton on Hudson Cato Catskill Catskill Cattaraugus Cazenovia Central Islip Central Square Central Valley The National Exchange Bank of Castleton on Hudson . President, any Vice President, or Cashier The First National Bank of C a t o ........................................President, any Vice President, or Cashier Catskill National Bank and Trust Company . . . . President, any Vice President, or Cashier The Tanners National Bank of C atskill........................... President, any Vice President, or Cashier Bank of Cattaraugus................................................................ President, any Vice President, or Cashier The Cazenovia National B a n k ..............................................President, any Vice President, or Cashier The Central Islip National B an k ..............................................President, any Vice President, or Cashier The First National Bank of Central Square . . . . President, any Vice President, or Cashier The Central Valley National B a n k ........................................ President, any Vice President, or Cashier 5 NEW YORK ( ContinuedJ Place Name of Bank or Trust Company Officers Authorized to Cast Vote Chappaqua Chateaugay Cherry Valley Chester Chestertown Cicero Clarence Clayton Clifton Springs Clinton Clyde Clymer Cobleskill Cohocton The Chappaqua National B a n k ............................................ The First National Bank of Chateaugay......................... Otsego County National Bank of Cherry Valley . The Chester National B a n k .................................................. Chester-Schroon-Horicon B a n k ............................................ Cicero State B a n k ..................................................................... Bank of Clarence..................................................................... The First National Exchange Bank of Clayton . The Ontario National Bank of Clifton Springs . The Hayes National Bank of Clinton............................... Briggs National Bank of C lyde............................................ Clymer State B an k..................................................................... The First National Bank of C o b lesk ill......................... The Cohocton State B an k ........................................................ Cold Spring Cooperstown Cornwall Coxsackie Croghan Cuba Cuba Delevan Delhi Deposit De Ruyter Dexter The National Bank of Cold Spring on Hudson . The First National Bank of Cooperstown......................... The Cornwall National B a n k .................................................. The National Bank of Coxsackie............................................ The Croghan National B a n k .................................................. The Cuba National Bank . . . . ......................... The First National Bank of C u b a ..................................... Bank of D elevan ..................................................................... The Delaware National Bank of D elh i............................... The Farmers National Bank of D e p o s it ......................... De Ruyter State B an k .............................................................. The First National Bank of Dexter..................................... Dobbs Ferry Dolgeville Dover Plains Downsville Dryden Dundee East Islip East Setauket East Syracuse Edmeston Ellenburg Depot Ellenville Ellenville Elmsford Endicott Fair Haven Falconer Fleischmanns Florida Fort Plain Frankfort Dobbs Ferry B a n k ..................................................................... The First National Bank of Dolgeville............................... The Dover Plains National B a n k ..................................... The First National Bank of Downsville............................... The First National Bank of D ry d e n ............................... Dundee State B a n k ............................................................... The First National Bank of East I s l i p ......................... The Tinker National Bank of East Setauket . . . . Bank of East S y r a c u se ........................................................ The First National Bank of Edmeston............................... The State Bank of Ellenburg.................................................. The First National Bank and Trust Company of Ellenville The Home National Bank of Ellenville............................... The First National Bank of Elm sford............................... The Endicott National B a n k ........................................... The Fair Haven National B a n k ........................................... The First National Bank of Falconer............................... The First National Bank of Fleischmanns......................... The National Bank of F lo rid a ............................................ The Fort Plain National B a n k ........................................... Citizens First National Bank of Frankfort . . . . Franklinville Fredonia The Union National Bank of Franklinville . . . Citizens Trust Company of Fredonia, New York . Fredonia Friendship Fultonville Gainesville Geneseo The National Bank of Fredonia........................................... The Union National Bank of Friendship......................... The Fultonville National B a n k ........................................... The Gainesville National B a n k ........................................... Genesee Valley National Bank and Trust Company of G e n e s e o ........................................................................... The National Bank of G eneva........................................... The First National Bank of Glen C ove............................... The First National Bank of Glen H e a d ......................... Geneva Glen Cove Glen Head 6 . 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 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, or Assistant Cashier President, any Vice President, or Cashier 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 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 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, or Cashier President, or Cashier 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 President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or Executive Officer President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier NEW Y O R K (Continued) Name of Bank or Trust Company Place Goshen Gouverneur Gouverneur Grand Gorge Granville Greene Greenport Greenwich Greenwood Groton Hamden Hammond Hampton Bays Hancock Harrisville Hartwick Haverstraw Hermon Heuvelton Highland Hobart Holcomb Holland Homer Hoosick Falls Hudson Falls Ilion I lion Interlaken Irvington I slip Jeffersonville Johnstown Katonah Keeseville Kerhonkson Kinderhook Kings Park Kingston Kingston Lacona La Fargeville Lake George Lake Luzerne Lake Ronkonkoma Liberty Lindenhurst Lisbon Little Falls Livingston Manor Livonia Locust Valley Lowville Lowville Lvndonville Lyons Lyons Falls Officers Authorized to Cast Vote The Goshen National B a n k .................................................. W. R. Wells, Cashier ............................... President, Executive Vice President & Trust Bank of Gouverneur . . . Officer, any Vice President, or Cashier First National Bank in Gouverneur..................................... President, any Vice President, or Cashier The First National Bank of Grand G o rg e......................... President, any Vice President, or Cashier The Washington County National Bank of Granville . President, any Vice President, Assistant Vice President, or Cashier First National Bank in Greene........................................... Cashier The First National Bank of Greenport............................... President, any Vice President, or Cashier The First National Bank of Greenwich......................... Judson Edie, President The First National Bank of Greenwood............................... The First National Bank of Groton............................... President, any Vice President, or Cashier The First National Bank of Hamden............................... President, any Vice President, or Cashier The Citizens National Bank of Hammond . . . . President, any Vice President, or Cashier The Hampton Bays National B a n k ............................... President, any Vice President, or Cashier President, any Vice President, or Cashier The First National Bank of Hancock......................... Fred E. Whipple, Cashier The First National Bank of Harrisville . . . . . President, any Vice President, or Cashier The Hartwick National B an k ........................................... The National Bank of Haverstraw and Trust Company . President, any Vice President, or Cashier . President, any Vice President, or Cashier The First National Bank of Herm on......................... The First National Bank of Heuvelton......................... . J. W. Feeter, a Director The First National Bank of Highland......................... The National Bank of H o b a r t ..................................... . President, any Vice President, or Cashier . President, any Vice President, or Cashier The Hamlin National Bank of Holcomb . . . . . President, any Vice President, or Cashier Bank of H ollan d .............................................................. . President, any Vice President, or Cashier The Homer National B a n k ........................................... The Peoples-First National Bank of Hoosick Falls . . President, any Vice President, or Cashier . President, any Vice President, or Cashier The First National Bank of Hudson Falls . . . . . President, any Vice President, or Cashier Ilion National Bank and Trust Company . . . . . President, any Vice President, or Cashier The Manufacturers National Bank of Ilion . President, any Vice President, or Cashier The Wheeler National Bank of Interlaken . . . . The Irvington National Bank and Trust Company . . President, any Vice President, or Cashier . President, any Vice President, or Cashier The First National Bank of I s l i p ............................... . President, any Vice President, or Cashier The First National Bank of Jeffersonville . . . . . President, any Vice President, or Cashier The Johnstown B a n k ........................................................ . President, any Vice President, or Cashier Northern Westchester B a n k ........................................... . President, any Vice President, Cashier, or The Keeseville National B a n k ..................................... Assistant Cashier The Kerhonkson National B a n k ..................................... . President, any Vice President, or Cashier The National Union Bank of Kinderhook . . . . . President, any Vice President, or Cashier The National Bank of Kings P a r k ............................... President, any Vice President, or Cashier The National Ulster County Bank of Kingston . . F. J. R. Clarke, President The Rondout National Bank of Kingston . . . President, any Vice President, or Cashier The First National Bank of Lacona............................... . President, anv Vice President, or Cashier . President, any Vice President, or Cashier The First National Bank of La Fargeville . First National Bank of Lake George......................... . President, any Vice President, or Cashier . President, anv Vice President, or Cashier The Luzeme-Hadlev B a n k ........................................... The The The The The National Bank of Lake Ronkonkoma . . . . Sullivan County National Bank of Liberty . Lindenhurst B a n k .................................................. First National Bank of Lisbon............................... Little Falls National B a n k ..................................... The Livingston Manor National B a n k ......................... The Stewart National Bank of Livonia......................... Matinecock Bank of Locust V a lle y ............................... The Black River National Bank of Lowville . Lewis County Trust C o m p a n y ..................................... Citizens State B a n k ........................................................ The Lyons National B a n k ............................................ The Lyons Falls National B a n k ..................................... 7 . 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 President . President, any Vice President, or Secretary . President, any Vice President, or Cashier President, any Vice President, or Cashier . President, anv Vice President, or Cashier NEW YORK Place Madrid Mahopac Malone Malone Malveme Marathon Marcell us Margaretville Marion Marlboro Maybrook Mayville Mexico Middleburg Middleville Millbrook Millerton Milton Mineola Minoa Monroe Montgomery Monticello Monticello Montour Falls Moravia Morris Morrisville Nanuet Narrowsburg Newark Valley Newburgh Newfane New Paltz New York City Nichols Norfolk North Collins North Creek North Tarrytown Norwich Norwood Oceanside Odessa Old Forge Olean Oneida Ontario Orchard Park Oriskany Falls Ossining Ovid Owego Owego ( Continued) Name of Bank or Truat Company Officers Authorized to Caat Vote Madrid B a n k ........................................................................... The Mahopac National B a n k .................................................. Chairman of the Board, President, any Vice President, or Cashier The Citizens National Bank of M alone............................... President, any Vice President, or Cashier The Farmers National Bank of M alone......................... President, any Vice President, or Cashier The Bank of Malveme............................................................... President, any Vice President, or Cashier The First National Bank of Marathon............................... President The First National Bank of Marcellus............................... President, any Vice President, or Cashier The Peoples National Bank of Margaretville . . . . Frank Kittle, Cashier The First National Bank of M a r i o n ............................... President, any Vice President, Cashier, or Assistant Cashier The First National Bank of Marlboro............................... President, any Vice President, or Cashier The Maybrook National B a n k ............................................ President, any Vice President, or Cashier The State Bank of Mayville, Mayville, New York . President, any Vice President, or Cashier The First National Bank of Mexico..................................... President, or any Vice President The First National Bank of Middleburgh......................... President, any Vice President, or Cashier The Middleville National B a n k ............................................ President, any Vice President, or Cashier Bank of Millbrook..................................................................... President, Vice President, or Cashier The Millerton National B an k .................................................. President, any Vice President, or Cashier The First National Bank of M ilton..................................... President, any Vice President, or Cashier The First National Bank of M ineola............................... President, any Vice President, or Cashier First National Bank of M in o a ............................................ President, Vice President, or Cashier Citizens Bank of Monroe........................................................ First National Bank in M on tgom ery............................... President, any Vice President, or Cashier The National Union Bank of M o n ticello ......................... President, Vice President, or Cashier The Sullivan County Trust C o m p a n y ............................... President, any Vice President, Cashier, or Treasurer Montour National Bank in Montour F a lls ......................... The First National Bank of M oravia............................... President, or Vice President The First National Bank of M orris..................................... President, any Vice President, or Cashier The First National Bank of Morrisville............................... President Nanuet National B a n k ........................................................ 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 The National Bank of N ew b u rg h ..................................... President, any Vice President, or Cashier State Bank of N ew fan e........................................................ President, any Vice President, or Cashier The Huguenot National Bank of New Paltz . . . . President, any Vice President, or Cashier ( See page 10) The Nichols National B a n k .................................................. President, any Vice President, or Cashier The First National Bank of N o rfolk ............................... President, any Vice President, or Cashier The Bank of North C ollins.................................................. President, any Vice President, or Cashier The North Creek National B an k ............................................ President, any Vice President, or Cashier The First National Bank of North Tarrytown . The Chenango Countv National Bank and Trust Company of Norw ich......................................................... State Bank of N o rw o o d ........................................................ The Oceanside National Bank (P. 0., Rockville Centre, N. Y . ) ................................................................................. The First National Bank of Odessa...................................... The First National Bank of Old F o rge............................... Olean Trust Company.............................................................. 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, Secretary, or Treasurer President State Bank of O n t a r io ........................................................ President, any Vice President, or Cashier President, any Vice President, or Cashier The First Trust and Deposit Company of Oriskany Falls, N. Y ........................................................................................... President, any Vice President, or Treasuri The First National Bank and Trust Company of Ossining President, any Vice President, or Cashier The First National Bank of O v id ...................................... President, any Vice President, or Cashier The First National Bank of Owego...................................... President, any Vice President, or Cashier The Owego National B a n k .................................................. President, any Vice President, or Cashier 8 NEW YO R K (Continued) Name of Bank or Trust Company Place Officers Authorized to Cast Vote Oxford Oyster Bay The National Bank of O x fo r d ........................................... North Shore Bank Trust Company..................................... Oyster Bay Painted Post Patchogue Patchogue Pawling Oyster Bay Trust Company.................................................. The First National Bank of Painted P o s t ......................... The Patchogue B a n k .............................................................. The Peoples National Bank of Patchogue......................... The National Bank of Paw ling............................................ Pearl River Pearl River Peekskill Perry Perry Phelps Philadelphia Philmont Pine Bush Pine Plains Poland Port Jervis Port Jervis Port Leyden Poughkeepsie First National Bank and Trust Company of Pearl River State Bank of Pearl River, New Y o r k ............................... The Peekskill National Bank and Trust Company . The Citizens Bank of Perry, N. Y ......................................... The First National Bank of P erry ..................................... The National Bank of P h e lp s........................................... Bank of Philadelphia.............................................................. Philmont National B a n k ........................................................ The National Bank of Pine B u s h ..................................... The Stissing National Bank of Pine Plains . . . . The Citizens National Bank of Poland............................... The First National Bank of Port J erv is......................... The National Bank and Trust Company of Port Jervis The Port Leyden National B a n k ..................................... The Farmers and Manufacturers National Bank of Poughkeepsie .................................................................... Merchants National Bank & Trust Company of P o u g h k e e p sie ..................................................................... Prattsburgh State B a n k ........................................................ The Red Creek National B a n k ............................................ The First National Bank of Red H oo k ............................... The Redwood National B an k .................................................. The First National Bank of Rem sen............................... The First National Bank of Rhinebeck............................... Poughkeepsie Prattsburg Red Creek Red Hook Redwood Remsen Rhinebeck Richfield Springs Roscoe Roxbury Sag Harbor Salamanca Salem Saranac Lake The First National Bank of Richfield Springs . . . . President, any Vice President, or Cashier President, any Vice President, or Assistant Secretary President, any Vice President, or Secretary President, any Vice President, or Cashier President President, any Vice President, or Cashier 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 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, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier 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, 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, or any Assistant 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 & Trust Company of Roscoe The National Bank of Roxbury............................................ The Peconic B a n k ..................................................................... The First National Bank of Salamanca............................... The Salem National B a n k ...................................... Adirondack National Bank and Trust Company of Saranac L a k e ........................................................ President Saratoga Springs Saugerties Saratoga National Bank of Saratoga Springs The Saugerties National Bank and Trust Company Savannah Schoharie Schuylerville Scotia Seneca Falls Seneca Falls Sidney Silver Creek Silver Creek Silver Springs Skaneateles Smithtown Solvay South Fallsburg Southold Sparkill The National Bank of Savannah............................................ The Schoharie County B a n k .................................................. The National Bank of Schuylerville..................................... Glenville National Bank of S c o t i a ..................................... The Seneca County Trust Company of Seneca Falls, N. Y. The State Bank of Seneca Falls, N. Y ............................... First National Bank in Sidney..................................... The First National Bank of Silver Creek......................... The Silver Creek National B a n k ........................................... The Silver Springs National B a n k ..................................... National Bank and Trust Company of Skaneateles . Bank of S m ith to w n ..................................... Solvay B a n k ........................................................................... The South Fallsburg National B an k ..................................... Bank of Southold..................................................................... The First National Bank of Sparkill............................... President, any Vice President, or Cashier 9 President, any Vice President, or Cashier Chairman of the Board, 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 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 NEW YORK (C ontinued) Place Spencer Spring Valley Springville Stamford Stony Brook Tarrytown Theresa Tuckahoe Tupper Lake Unadilla Vernon Waddington Walton Wappingers Falls Warrensburg Warwick Washingtonville Waterford Waterville Watkins Glen Waverly Wayland Weedsport Wells Wellsville Westbury Westbury Westhampton Beach Westport West Winfield Whitehall Whitesville Whitney Point Willsboro Windham Windsor Winthrop Wolcott Woodridge Worcester Name of Bank or Trust Company Officers Authorized to Cast Vote The Farmers & Merchants Bank of Spencer, N. Y. . . President, any Vice President, Cashier, or Assistant Cashier Ramapo Trust Company..........................................................President, any Vice President, or Treasurer The Citizens National Bank of Springville.......................... President, any Vice President, or Cashier The National Bank of Stamford............................................. President, any Vice President, or Cashier Bank of Suffolk C ounty......................................................... President, any Vice President, or Cashier The Tarrytown National Bank and Trust Company . . President, or Cashier The Farmers National Bank of T h e r e sa ...........................President, any Vice President, or Cashier The Crestwood National Bank in Tuckahoe . . . . President, any Vice President, or Cashier The Tupper Lake National B a n k .......................................President, any Vice President, or Cashier The Unadilla National B a n k ................................................... President, any Vice President, or Cashier The National Bank of V e r n o n .............................................President, any Vice President, or Cashier The Waddington B a n k ..........................................................President, any Vice President, or Cashier The First National Bank and Trust Company of Walton President, any Vice President, or Cashier The National Bank of Wappingers F a lls .......................... President, any Vice President, or Cashier The Emerson National Bank of Warrensburgh . . . . President, any Vice President, or Cashier The First National Bank of W a r w ic k .................................President, any Vice President, or Cashier Central National Bank of Washingtonville.............................................................................................................. Bank of Waterford ................................................................................................................................................... The National Bank of W a te r v ille ....................................... President, any Vice President, or Cashier Glen National Bank of Watkins G le n .................................President, any Vice President, or Cashier The Citizens National Bank of W a v e r ly ...........................President, any Vice President, or Cashier The First National Bank of W ayland.................................President, any Vice President, or Cashier The First National Bank of Weedsport................................ President, any Vice President, or Cashier The Hamilton County National Bank of Wells . . . . President, any Vice President, or Cashier The Citizens National Bank of W ellsville.......................... President, any Vice President, or Cashier Bank of Westbury Trust Company........................................President, any Vice President, or Cashier The Wheatley Hills National Bank of Westbury . . . Chairman of the Board, President, any Vice President, or Cashier Seaside B a n k ............................................................................ Chairman of the Board, President, any Vice President, or Cashier The Lake Champlain National Bank of Westport . . . President, any Vice President, or Cashier The West Winfield National B a n k ....................................... President, any Vice President, Cashier, or Assistant Cashier The Merchants National Bank of Whitehall . . . . President, any Vice President, or Cashier The First National Bank of Whitesville.................................President, any Vice President, or Cashier President, any Vice President, or Cashier The First National Bank of Whitney Point . . . . The Essex County National Bank of Willsboro . . . President, any Vice President, or Cashier The National Bank of Windham............................................. President, any Vice President, or Cashier The Windsor National B a n k ................................................... President, any Vice President, or Cashier The First National Bank of Winthrop.................................President, any Vice President, or Cashier The First National Bank of W o lc o tt.................................President, any Vice President, or Cashier The First National Bank of Woodridge.................................President, any Vice President, or Cashier The Bank of W o rceste r..........................................................President, any Vice President, or Cashier NEW YORK CITY Queens College Point Richmond Great Kills . President, or Cashier College Point National Bank of New York . The South Shore Bank of Staten Island . 10 . . . FE D E RA L RESERVE BANK O F NEW YORK D esignation o f Officers A u th orized to Cast V ote o f M em ber Bank in E lections o f D irectors o f Federal R eserve Bank o f New Y o rk D is t r ic t N o . 2 A t a meeting o f the Board o f Directors of the (Name and Location o f Bank) duly called and held on the.......................day o f......................................, 195........., on motion duly made and seconded, it was “ RESOLVED, That the president, any vice president, or the cashier of this bank, or ( I f designation o f some officer not included in those mentioned is desired, insert his title o n ly here) o f this bank, be and any one o f them is hereby authorized, empowered and directed to cast the vote o f this bank for class A and class B directors of the Federal Reserve Bank of New York, in accordance with the provisions o f section 4 of the Federal Reserve Act, as amended. “ RESOLVED FU RTH ER, That the authority hereby granted shall continue in force until revoked by the Board o f Directors of this bank and that such authority heretofore conferred on any officer o f this bank is hereby revoked.” I hereby certify that the foregoing is a true and correct copy of a resolution of the Board o f Directors o f this bank, duly adopted on the date specified. Dated the.................. day o f............................................... , 195......... (Official signature) ( S e a l o f B a n k ) (Title) T o C h a ir m a n of t h e B oard F e d e r a l R e se r v e B a n k of of D ir e c t o r s , New Y ork. FED ERAL RESERVE BANK O F NEW YORK Designation o f Officers A u th orized to Cast V ote o f M em ber B ank in E lections o f D irectors o f Federal R eserve B ank o f New Y o rk D is t r ic t N o . 2 A t a meeting o f the Board o f Directors of the (Name and Location o f Bank) duly called and held on the....................... day o f......................................, 1 95 ........., on motion duly made and seconded, it was “ RESOLVED, That the president, any vice president, or the cashier of this bank, or ( I f designation o f some officer not included in those mentioned is desired, insert his title o n ly here) of this bank, be and any one o f them is hereby authorized, empowered and directed to cast the vote o f this bank for class A and class B directors o f the Federal Reserve Bank of New York, in accordance with the provisions o f 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 o f Directors o f 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 o f Directors o f this bank, duly adopted on the date specified. Dated the.................. day o f ............................................... , 195......... (Official signature) (S e a l of B a n k ) (Title) T o C h a ir m a n of t h e B oard F e d eral R eserve B a n k of of D ir e c t o r s , N ew Y ork. F E D E R A L R E SE R V E BANK O F NEW YORK Nomination for Class B Director, 1954 D is t r ic t No. 2 G rou p No. 3 A t a meeting o f the Board o f Directors of the ............................................ (Name of Bank) o f........................................................................... duly called and held on the.......................day (City or Town and State) o f...........................................................1954, on motion duly made and seconded, it was “ RESOLVED, That................................................................................ , o f.............................. whose occupation is.......................................... ........... , be, and he is hereby, nominated by this bank as a candidate for class B director of the Federal Reserve Bank of New York, and the cashier or other officer o f this bank is hereby authorized, empowered and directed to send a certified copy o f this resolution to the Chairman of the Board of Directors of the Federal Reserve Bank o f New Y ork.” I hereby certify that the foregoing is a true and correct copy of a resolution of the Board o f Directors o f this bank duly adopted on the date specified. (S eal of B a n k ) (Official signature) To MR. J A Y E. CRANE, C h a ir m a n of t h e B oard (Title) of F e d e r a l R e se r v e B a n k D ir e c t o r s , of N ew Y ork. FED ERAL RE SER VE BANK O F NEW YORK Nomination for Class B Director, 1954 D is t r ic t N o. 2 G rou p N o. 3 A t a meeting o f the Board o f Directors of t h e ............................................ (Name of Bank) o f........................................................................... duly called and held on the....................... day (City or Town and State) o f...........................................................1954, on motion duly made and seconded, it was “ RESOLVED, That................................................................................ , o f.............................. whose occupation is......................................................, be, and he is hereby, nominated by this bank as a candidate for class B director of the Federal Reserve Bank of New York, and the cashier or other officer o f this bank is hereby authorized, empowered and directed to send a certified copy of this resolution to the Chairman of the Board of Directors of the Federal Reserve Bank o f New Y ork.” I hereby certify that the foregoing is a true and correct copy of a resolution of the Board o f Directors o f this bank duly adopted on the date specified. (S eal op B a n k ) (Official signature) To MR. J A Y E. CRANE, C h a ir m a n op t h e B oard (Title) op F e d e r a l R e se r v e B a n k D ir e c t o r s , op New Y ork. FEDERAL RESERVE BANK O F NEW YORK Nomination for Class A Director, 1954 D is t r ic t N o . 2 G r o u p N o . 3 A t a meeting o f the Board o f Directors of the ..................................................................... (Name of Bank) o f........................................................................... duly called and held on the....................... day (City or Town and State) o f...........................................................1954, on motion duly made and seconded, it was “ RESOLVED, That................................................................................ , o f............................... whose occupation is...................................................... , be, and he is hereby, nominated by this bank as a candidate for class A director 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 o f this resolution to the Chairman of the Board o f Directors of the Federal Reserve Bank o f New Y ork.” I hereby certify that the foregoing is a true and correct copy of a resolution of the Board o f Directors o f this bank duly adopted on the date specified. (S e a l of B a n k ) (Official signature) To MR. J A Y E. CRANE, C h a ir m a n of t h e B oard ................................... of F e d e r a l R e se r v e B a n k D ir e c t o r s , of New Y ork. FEDERAL RESER VE BANK O F NEW YORK Nomination for Class A Director, 1954 D is t r ic t N o . 2 G r o u p N o . 3 A t a meeting o f the Board o f Directors of the ............................................ (Name of Bank) o f............................................................................duly called and held on the....................... day (City or Town and State) o f...........................................................1954, on motion duly made and seconded, it was “ RESOLVED, That................................................................................ , o f............................... whose occupation is......................................................, be, and he is hereby, nominated by this bank as a candidate for class A director 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 Chairman o f the Board of Directors of the Federal Reserve Bank of New Y ork.” 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. (S e a l op B a n k ) (Official signature) To MR. J A Y E. CRANE, C h a ir m a n op t h e B o ard (Tide) of F e d e r a l R e se r v e B a n k D ir e c t o r s , op Ne w Y ork. FEDERAL RE SER VE BANK O F NEW YORK Nomination for Class A Director, 1954 D is t r ic t N o . 2 G r o u p N o . 3 A t a meeting o f the Board o f Directors of the .................................................................... (Name of Bank) o f........................................................................... duly called and held on the....................... day (City or Town and State) o f...........................................................1954, on motion duly made and seconded, it was “ RESOLVED, That................................................................................ , o f.............................. whose occupation is...................................................... , be, and he is hereby, nominated by this bank as a candidate for class A director of the Federal Reserve Bank of New York, and the cashier or other officer o f this bank is hereby authorized, empowered and directed to send a certified copy o f this resolution to the Chairman of the Board of Directors of the Federal Reserve Bank o f New Y ork.” I hereby certify that the foregoing is a true and correct copy of a resolution of the Board o f Directors o f this bank duly adopted on the date specified. (S eal of B a n k ) (Official signature) To MR. J A Y E. CRANE, C h a ir m a n of th e B oard ................................... of F e d e r a l R e se r v e B a n k D ir e c t o r s , of N ew Y ork. M r. Ja y E . C r a n e , Chairman, Board o f Directors, Federal Reserve Bank of New York, Federal Reserve P. 0 . Station, New York 45, N. Y.
@FedFRASER