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FEDERAL RESERVE BANK O F N EW YORK J" C ircu lar N o . 4 9 8 1 "I L D e ce m b er 2 9 , 1 9 6 0 J Appointment of Directors To M em ber Banks o f the Second Federal R eserve D istrict: The Board of Governors o f the Federal Reserve System has redesignated D . R e e d as Chairman o f the board of directors of the Federal Reserve Bank of New Y ork and Federal Reserve Agent for the year 1961. Mr. Reed, form er Chair man o f the Board, General Electric Company, New York City, served as a Class B director of the Bank in 1959. He was appointed a Class C director of the Bank for the three-year term beginning January 1, 1960, and has been serving as Chairman and Federal Reserve Agent fo r the year 1960. P h il ip The Board of Governors has appointed J a m e s D e C a m p W i s e as Deputy Chair man for the year 1961. Mr. Wise, who is Chairman of the Board, Bigelow-Sanford Carpet Company, Inc., New Y ork City, has been serving as a Class C director of the Bank since January 1959. A s Deputy Chairman, Mr. W ise succeeds F o r r e s t F. H i l l , Vice President, The Ford Foundation, New York City, whose term as Deputy Chair man and as a Class C director expires December 31,1960. Mr. Hill has served in both capacities since January 1, 1955. The Board o f Governors has also appointed E v e r e t t N e e d h a m C a s e as a Class C director for the three-year term beginning January 1, 1961. Dr. Case, who is President o f Colgate University, Hamilton, N . Y., succeeds Mr. Hill as a Class C director. The Board o f Governors has also reappointed T homas E. L aM ont, farmer, Albion, Orleans County, N. Y., a director o f the Buffalo Branch for the three-year term beginning January 1, 1961. Mr. LaMont has been a director o f the Branch since November 16, 1959, having been appointed for the unexpired portion of the term end ing December 31, 1960. The board of directors o f the Federal Reserve Bank of New Y ork has appointed F r a n c i s A. S m i t h , President, The Marine Trust Company o f Western New York, Buffalo, N. Y., a director of the Branch for the three-year term beginning January 1, 1961, to succeed E. P e r r y S p i n k , President, Liberty Bank of Buffalo, Buffalo, N. Y. The board o f directors o f the Federal Reserve Bank of New Y ork has redesig nated W h i t w o r t h F e r g u s o n as Chairman of the board o f directors o f the Buffalo Branch for the year 1961. Mr. Ferguson, who is President o f Ferguson Electric Con struction Co., Inc., Buffalo, N. Y., has been a director of the Branch since January 1, 1959, serving as Chairman of the Branch board for the year 1960. A lfred H ayes, President.
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