Full text of Federal Reserve Bank of New York Circulars : 4404. Appointment of Directors

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FED ERAL R E SER VE BANK
OF NEW YORK
r C ircular No. 4 4 0 4 1
L D ecem ber 27, 1956 J

Appointm ent o f Directors
To Member Banks in the Second Federal Reserve District:

The B oard of Governors of the Federal Reserve System announced today the
appointm ent of J o h n E. B ie r w ir t h as a Class C director of the Federal Reserve
Bank of New York for the three-year term beginning Jan u a ry 1, 1957, and has desig­
nated him as Chairman of the B oard and Federal Reserve A gent for the year 1957.
Mr. B ierw irth, who is P resident of National D istillers Products Corporation, New
York City, has been serving as a Class B director of this Bank since March 20, 1953.
Mr. B ierw irth succeeds J a y E. Crane, Director, S tan d ard Oil Company (New Jersey ),
New York, who has been serving as a Class C director of the Bank, and Chairman of
the B oard and Federal Reserve Agent, since Jan u a ry 20, 1953; Mr. C rane’s term will
end December 31, 1956.
The Board of Governors has reappointed F o r r e st F . H il l as Deputy Chairman
for the year 1957. Dr. H ill has been a Class C director of the Bank since Jan u ary
1955, and has served as Deputy Chairman since th at time. He is Vice President of
The F o rd Foundation, New York.
The Board of Governors has appointed R a y m o n d E. O l s o n , President of Taylor
Instrum ent Companies, Rochester, New York, as a director of the Buffalo B ranch of
this Bank for the three-year term beginning Ja n u a ry 1, 1957. He succeeds, on the
Branch board, Robert C. Tait, P resident of the Strom berg-Carlson Company (a Divi­
sion of General Dynamics C orporation), Rochester, New York.
The board of directors of the Federal Reserve Bank of New York has appointed
P resident of The National Bank of Geneva, Geneva, New York,
as a director of the Buffalo Branch for a three-year term beginning Jan u a ry 1, 1957.
He succeeds, on the Branch board, Robert L. Davis, P resident of The F irs t National
Bank of Olean, Olean, New York.

V er n o n A lexa n d er,

The board of directors of the Federal Reserve Bank of New York has designated
C la y t o n G. W h i t e , Stow, New York, as Chairm an of the board of directors of the
Buffalo Branch for the year 1957. Mr. AVhite has been a director of the Branch since
Ja n u a ry 1, 1952. Mr. WThite is engaged in farm ing in Stow, New York, and is a
director of several agricultural cooperatives.




A lfred

H ayes,

President.