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FE D E R A L R E SE R V E BANK OF NEW YORK r Circular No. 5 7 1 0 "1 L October 15, 1965 J Nomination and Election of Directors To the Member Banks of the Second Federal Reserve District: A n election will be held under the provisions of section 4 of the Federal Reserve A ct, as amended, to choose successors to the following directors of this Bank whose terms will expire December 31, 1965: class A director, R alph H . R ue , Chairman of the Board, The Schenectady Trust Company, Schenectady, N. Y ., and class B director, K enneth H . H a n n a n , Executive Vice President, Union Carbide Corporation, New York, N. Y . Both directors were elected by member banks in Group 2 and their successors will be chosen by this group. Member banks in Groups 1 and 3 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 follow s: Group 1 consists of banks with capital and surplus of more than $40,000,000; Group 2, of banks with capital and surplus of $1,500,000 to $40,000,000, inclusive; and Group 3, of banks with capital and surplus of less than $1,500,000. For the purposes of this election, a member bank’s classification will be determined by its capital and surplus as of the date of this circular, even though its capital and surplus may change before the polls close. The list of banks comprising Group 2 begins on page 3. Except in the case of two or more banks affiliated with the same holding company affiliate,* each bank in Group 2 is permitted to nominate a candidate for class A director and a candidate ♦Section 4 of the Federal Reserve Act, as amended, reads in part as follow s: “ . .. 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. ’ ’ Accordingly, banks in Group 2 affected by the foregoing provision of the law are requested to take prompt action to have the appropriate holding company affiliate designate, if it has not already designated, one of its affiliated banks to participate in this nomination and election. for class B director.** The nominations should be made by resolutions 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 November 18, 1965. The enclosed printed forms show the appropriate forms of resolution, and one executed copy of each form should be returned to me. On November 22,1965, 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 2 by November 23, 1965. The law provides that the ballot shall be cast within 15 days after receipt of this list. The polls will open at 10 a.m., November 23,1965, and will close at 12 o ’clock noon on Wednesday, December 8, 1965. 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 Wednesday, December 8, 1965). The officers heretofore designated for this purpose by the respective banks in Group 2 are shown in the list on the following pages. A ny Group 2 bank that desires to change its authorization should do so by resolution of its board of directors; a certified copy of such resolution must reach me before the polls close. A form for this purpose will be furnished upon request. Because banks in Groups 1 and 3 will not participate in this election, this circular is sent to them without forms and for their information only. P h il ip D. R eed, Chairman of the Board. **Section 4 of the Federal Reserve A ct, as amended, reads in part as follow s: ‘ 1Class 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. “ A ny 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. ’ ’ [Under interpretations of the Board of Governors of the Federal Reserve System, a person -whose sole occupation is that of officer of an insurance company or of a savings and loan association is not eligible for election as a class B director of a Federal Reserve 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. ’ ’ [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 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.” ] 2 1965 Election of Directors List of 146 Member Banks in Group 2 (G roup 2 consists of m em ber banks with capital and surplus o f $ 1 ,5 0 0 ,0 0 0 to $ 4 0 ,0 0 0 ,0 0 0 , inclusive, on October 1 5, 1 9 6 5 ) CONNECTICUT Place Name of Bank or Trust Company Officers Authorized to Cast Vote Bridgeport City Trust C o m p a n y ................................................................... President, any Vice President, Cashier, or Secretary Bridgeport The Connecticut National B a n k ............................................... President, any Vice President, or Cashier Bridgeport The State National Bank of Connecticut..................................President, any Vice President, or Cashier N E W JERSEY Asbury Park First Merchants National Bank, Asbury Park . . . . President, any Vice President, Cashier, or any Assistant Cashier Asbury Park New Jersey National Bank and Trust Company Belleville Peoples National Bank and Trust Company of Belleville . President, any Vice President, or Cashier ........................................................................................................... Bound Brook The First National Bank of Somerset County, N. J. Clifton New Jersey Bank and Trust C om pan y..................................Chairman of the Board, President, any Vice President, or Treasurer Dover The Dover Trust C o m p a n y ...................................................... President, any Vice President, Treasurer, or Assistant Treasurer Dover The National Union Bank of D o v e r ........................................ President, any Vice President, or Cashier East Brunswick The First National Bank of Middlesex County . Elizabeth Central Home Trust Company of Elizabeth, N. J. . . . . President, any Vice President, or Cashier . . . President, any Vice President, or Cashier . President, any Vice President, or Treasurer Elizabeth The National State Bank, Elizabeth, N . J............................... President, any Vice President, or Cashier Elizabeth Union County Trust C o m p a n y ............................................... President, any Vice President, or Treasurer Englewood Citizens National B a n k .............................................................President, any Vice President, or Cashier Englewood Englewood National Bank and Trust Com pany.................................................................................................................. Flemington The Hunterdon County National Bank of Flemington . . President, any Vice President, or Cashier Fords First Bank and Trust Company, National Association . . President, any Vice President, Treasurer, or Assistant Treasurer Franklin The Bank of Sussex C o u n t y ....................................................... President, any Vice President, or Treasurer Franklin Township County Bank and Trust Company of Somerset . Hackensack The Bergen County National Bank of Hackensack............................................................................................................ . . . President, any Vice President, or Treasurer Hackensack The Hackensack Trust C o m p a n y ................................................ President, any Vice President, or Secretary Hackensack Peoples Trust Company of Bergen C o u n ty ........................... President, any Vice President, Cashier, Secretary, or Treasurer Jersey City Commercial Trust Company of New J e r se y ........................... President, any Vice President, or Treasurer Jersey City The First National Bank of Jersey C i t y ..................................President, any Vice President, or Cashier Jersey City Hudson County National B a n k ............................................... President, any Vice President, or Cashier Jersey City The Trust Company of New J e r s e y .........................................President, any Vice President, or Treasurer Kearny The First National Bank and Trust Company of Kearny . President, any Vice President, or Cashier Maplewood The Maplewood Bank and Trust C om pany........................... President, any Vice President, Cashier, Treasurer, or Secretary Montclair Montclair National Bank and Trust Company . . . . President, any Vice President, any Assistant Vice President, or Cashier Morristown The First National Iron Bank of Morristown . . . . President, any Vice President, or Cashier Morristown Trust Company of Morris C ou n ty ............................................... President, or any Vice President 3 GKOUP 2 NEW JERSEY ( Continued) Place Name of Bank or Trust Company Officers Authorized to Cast Vote Newark Bank of Com m erce.................................. President, any Vice President, or Secretary Newark First National State Bank of New J e r s e y ........................... President, any Vice President, or Cashier Newark National Newark & Essex Bank . President, any Vice President, or Cashier Newark Security National Bank . New Brunswick The National Bank of New Jersey . President, any Vice President, or Cashier New Brunswick The Peoples National Bank of New Brunswick . President, any Vice President, or Cashier North Bergen The First National Bank of North B e r g e n ........................... President, any Vice President, or Cashier Nutley Bank of N u t le y ........................................ Passaic Bank of Passaic and Clifton . ............................................... . President, any Vice President, or Cashier . . President, any Vice President, or Treasurer Paterson Broadway Bank & Trust C o m p a n y ........................................ Paterson First National Bank of Passaic C o u n ty .................................. Chairman of the Board, President, any Vice President, or Cashier President, any Vice President, or Treasurer Perth Amboy Perth Amboy National B a n k ...................................................... President, any Vice President, or Cashier Plainfield Plainfield Trust State National B a n k .................................. President, any Vice President, or Cashier Prospect Park The Prospect Park National B a n k ........................................ President, any Vice President, or Cashier Red Bank The Monmouth County National Bank, Red Bank . President, any Vice President, or Cashier Ridgewood Citizens First National Bank of Ridgewood........................... President, any Vice President, or Cashier Ridgewood The North Jersey Trust Company, Ridgewood, New Jersey President, any Vice President, or Secretary Rutherford National Community Bank of R u th erford........................... Chairman of the Board, Chairman of the Executive Committee, President, any Vice President, or Cashier Summit Summit and Elizabeth Trust C om p an y.................................. President, any Vice President, or Treasurer Tenafly County Trust C o m p a n y ............................................................ Union The Union Center National B a n k ............................................... President, any Vice President, or Cashier Westfield The National Bank of W e stfield ............................................... President, any Vice President, or Cashier President, any Vice President, or Cashier N E W YORK Albany First Trust Company of A lb a n y ........................................ Albany Mechanics and Farmers’ Bank of Albany . . . . or any Vice President . President, any Vice President, or Cashier Albany National Commercial Bank and Trust Company . Albany State Bank of A lb a n y ............................................................ Amsterdam Montgomery County Trust Com pany.................................. Auburn The National Bank of A u b u rn ............................................... Bay Shore First National Bank of Bay S h o r e .................................. Binghamton First-City National Bank of Binghamton, N. Y . Buffalo Liberty National Bank and Trust Company . Canajoharie Central National Bank, Canajoharie................................. Canandaigua The Canandaigua National Bank and Trust Company . . President, any Vice President, or Cashier Canton The St. Lawrence County National Bank . President, any Vice President, or Cashier Cedarhurst Peninsula National B a n k ...................................................... . . . . President, any Vice President, or Cashier any Vice President, or Cashier any Vice President, or Treasurer . President, any Vice President, or Cashier any Vice President, or Cashier . President, any Vice President, or Cashier . . . . . President, any Vice President, or Cashier any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier Chappaqua Northern Westchester National B a n k .................................. . President, any Vice President, or Cashier Corning First National Bank and Trust Company of Corning . . President, any Vice President, or Cashier Cortland First National Bank of C ortlan d........................................ East Setauket The Tinker National B a n k ...................................................... . President Elmira Chemung Canal Trust C o m p a n y ........................................ . President, any Vice President, Cashier, Secretary, or Treasurer 4 Chairman of the Board, President, any Vice President, or Cashier GROUP 2 NEW YORK ( Continued) Place Officers Authorized to Cast Vote Name of Bank or Trust Company Elmira Marine Midland Trust Company of Southern New York . Chairman of the Board, Chairman of the Executive Committee, President, any Vice President, or Cashier Endicott Endicott Trust C o m p a n y ............................................................ President, any Vice President, or Treasurer Garden City Long Island Trust C om p an y ..................................................... President, or any Vice President Glen Cove Nassau Trust Com pany................................................................... President, any Vice President, or Cashier Glen Head The First National Bank of Glen H e a d ................................. President, any Vice President, or Cashier Glens Falls The First National Bank of Glens F a l l s ................................. President, any Vice President, or Cashier Glens Falls Glens Falls National Bank and Trust Company . President, any Vice President, or Cashier Gloversville City National Bank and Trust Company of Gloversville Gloversville The Fulton County National Bank and Trust Company of G l o v e r s v i l l e ................................................................................. Cashier Hempstead Hempstead B a n k .......................................................................... President, any Vice President, or Cashier Hicksville Long Island National B a n k ..................................................... Cashier Huntington Security National Bank of Long I s la n d ................................. President, any Vice President, or Cashier President, any Vice President, or Cashier . . . . President, any Vice President, or Cashier Ithaca First National Bank and Trust Company of Ithaca . Ithaca Tompkins County Trust Com pany............................................... President, any Vice President, or Cashier Jamestown Bank of Jam estown.......................................................................... President, any Vice President, or Cashier President, any Vice President, or Cashier Jamestown The First National Bank of Jam estown................................. Jamestown Marine Midland Chautauqua National B a n k ........................... President, any Vice President, or Cashier Kingston Kingston Trust C o m p a n y ............................................................ President, any Vice President, or Treasurer Kingston The State of New York National B a n k ................................. President, any Vice President, or Cashier Liberty The Sullivan County National Bank of Liberty . President, any Vice President, or Cashier . . . President, any Vice President, or Cashier Middletown President, any Vice President, or Cashier Newburgh Highland National Bank of N ew b u rgh ................................. New Rochelle First Westchester National B a n k ............................................... President, any Vice President, or Cashier New York City (See page 6) Norwich The National Bank and Trust Company of Norwich Nyack Marine Midland Trust Company of Rockland County . Chairman of the Board, President, any Vice President, or Cashier . Olean The Exchange National Bank of O le a n ................................. President, any Vice President, or Cashier Olean The First National Bank of O le a n ........................................ President, any Vice President, or Cashier Oneida The Oneida Valley National Bank of Oneida . President, any Vice President, or Cashier Patchogue . . . Poughkeepsie The Peoples National Bank of Long Is la n d ........................... President, any Vice President, or Cashier Dutchess Bank & Trust Com pany............................................... President, any Vice President, or Secretary Poughkeepsie The Fallkill National Bank and Trust Company of Poughkeepsie Rochester Marine Midland National Bank of Southeastern New York President, any Vice President, or Cashier Central Trust Company Rochester N. Y ..................................... President, any Vice President, or Secretary President, any Vice President, or Cashier Rochester Lincoln Rochester Trust C o m p a n y ........................................ President, or any Vice President Rochester Security Trust Company of R o c h e s te r ................................. President, any Vice President, or Secretary Sayville The Oystermen’ s Bank and Trust C om pany........................... Chairman, President, any Vice President, or Secretary Scarsdale Scarsdale National Bank and Trust Company . Schenectady The Mohawk National Bank of Schenectady........................... President, any Vice President, or Cashier . . . President Schenectady President, any Vice President, or Treasurer Smithtown President, any Vice President, or Cashier Spring Yalley The First National Bank of Spring V a lle y ........................... President, any Vice President, or Cashier Suffem President, any Vice President, or Cashier 5 GRO U P 2 N E W YO R K ( Continued) Name of Bank or Trust Company Officers Authorized to Cast Vote Syracuse First Trust & Deposit C om p an y ............................................... President, any Vice President, or Secretary Syracuse Lincoln National Bank and Trust Company of Central New Y o r k ....................................................................................... President, any Vice President, or Cashier Syracuse Marine Midland Trust Company of Central New York . Chairman of the Board, President, any Vice President, or Cashier Syracuse The Merchants National Bank & Trust Company of Syracuse ....................................................................................... President, any Vice President, or Cashier Syracuse Metropolitan National Bank of S y r a c u s e ........................... Place President, any Vice President, or Cashier Troy The Manufacturers National Bank of T r o y ........................... Troy The Union National Bank of T r o y ......................................... President, any Vice President, or Cashier Utica Marine Midland Trust Company of the Mohawk Valley Utica The Oneida National Bank and Trust Company of Central New Y o r k ....................................................................................... President, any Vice President, or Cashier Valley Stream Valley National Bank of Long I s l a n d .................................. President, any Vice President, or Cashier Watertown Marine Midland Trust Company of Northern New York . President, any Vice President, or Secretary and Treasurer Watertown The National Bank of Northern New Y o r k ........................... President, any Vice President, or Cashier Wellsville The Citizens National Bank of W e l l s v i l l e ........................... President, any Vice President, or Cashier Westbury Bank of Westbury Trust C o m p a n y ........................... ..... President, any Vice President, or Cashier White Plains The County Trust C o m p a n y ...................................................... President, or any Vice President White Plains National Bank of W e s tc h e s te r ............................................... President, any Vice President, or Cashier Yonkers First National Bank in Y o n k e r s............................................... President, any Vice President, or Cashier . President, any Vice President, or Secretary N E W YO RK CITY Brooklyn Lafayette National Bank of Brooklyn in New York . Manhattan The Amalgamated Bank of New Y o r k .................................. President, any Vice President, or Cashier American Trust C om p an y............................................................ President, or Cashier President, or any Vice President Century National Bank and Trust Company Chelsea National B a n k ...................................................... ...... Federation Bank and Trust Com pany........................................ President, or any Vice President The Merchants Bank of New Y o r k ........................................ President, any Vice President, Cashier, or Assistant Cashier Royal National Bank of New Y o r k ........................................ President, any Vice President, any Assistant Vice President, Cashier, or any Assistant Cashier Schroder Trust C o m p a n y ............................................................. President, any Vice President, or Secretary Sterling National Bank & Trust Company of New York . President, any Vice President, or Cashier Trade Bank and Trust C om pany............................................... President, any Vice President, or Cashier United States Trust Company of New Y o r k ........................... President, or any Vice President Forest Hills United National Bank of Long Island in New York President, any Vice President, or Cashier J amaica The Meadow Brook National B a n k ........................................ Queens . Chairman of the Board, President, any Vice President, or Cashier VIR G IN ISLAN D S S t. T h o m a s Charlotte Amalie Virgin Islands National B a n k ...................................................... President 6 FE D E R A L R E S E R V E BANK O F N EW YORK Nomination for Class A Director, 1965 Group No. 2 D is t r ic t N o . 2 A t a meeting of the Board of Directors of th e ................................................. (Name of Bank) of............................................................................... duly called and held on the........................ day (City or Town and State) of.................................................................. 1965, on motion duly made and seconded, it was “ R E S O L V E D , That.......................................................................................................................... of............................................................................................................................. . 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 of the Board of Directors of the Federal Reserve Bank of New Y o rk .” 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 eal of Bank) (Official signature) (Title) To MR. P H I L I P D. R E E D , C h a ir m a n of t h e F R ederal B oard eserve B of a n k D ir e c t o r s , of N e w Y ork . FED ER A L R E SE R V E BANK OF N EW YORK Nomination for Class A Director, 1965 D is tr ic t N o. Group No. 2 2 A t a meeting of the Board of Directors of th e ................................................. (Name of Bank) of...............................................................................duly called and held on the.........................day (City or Town and State) of.................................................................. 1965, on motion duly made and seconded, it was “ R E S O L V E D , That........................................................................................................................., of.............................................................................................................................. 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 of the Board of Directors of the Federal Reserve Bank of New Y o rk .” 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 eal of B a n k ) (Official signature) (Title) To MR. P H I L I P D. R E E D , C h a i r m a n o f t h e B oard o f D ir e c t o r s , F ederal R eserve B a n k of N e w Y ork . FED ER A L R ESE R V E BANK O F N E W YORK Nomination for Class B Director, 1965 D is t r ic t N o. 2 Group No. 2 A t a meeting of the Board of Directors of th e ........................................................................... (Name of Bank) of...............................................................................duly called and held on the.........................day (City or Town and State) of.................................................................. 1965, on motion duly made and seconded, it was “ R E S O L V E D , 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 of 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 of New Y o rk .” 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 eal of B a n k ) (Official signature) (Title) To MR. P H I L I P D. R E E D , C h a ir m a n o f t h e B o a r d o f D ir e c t o r s , F ederal R eserve B a n k of N e w Y ork . FED ERAL R ESER V E BANK O F N E W YO RK Nomination for Class B Director, 1965 Group No. D i s t r i c t N o. 2 2 A t a meeting of the Board of Directors of th e ........................................................................... (Name of Bank) of...............................................................................duly called and held on the.........................day (City or Town and State) of.................................................................. 1965, on motion duly made and seconded, it was “ R E S O L V E D , That........................................................................................................................ . of............................................................................................................................., 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 of 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 of New Yo rk .” 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 eal of B a n k ) (Official signature) (Title) To MR. P H I L I P D. R E E D , C h a i r m a n o f t h e B o a r d o f D ir e c t o r s , F e d eral R eserve B a n k of N e w Y o r k . R ofor om 511 Digitized FRASER M r . P h ilip D. R e e d , Chairman, Board o f Directors, Federal Reserve Bank of New York, Federal Reserve P. 0. Station, New York, N. Y. 10045
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