Full text of Federal Reserve Bank of New York Circulars : 7060. Appointment of Directors of this Bank and its Buffalo Branch

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FED ER AL RESERVE BANK
O F NEW YORK
r Circular N o. 7060 "l
L December 19, 1972 J

Appointment of Directors of this Bank
and its Buffalo Branch
To the M em ber B anks of the Second Federal Reserve D istrict:

Directors of this Bank

The Board of Governors of the Federal Reserve System has redesignated R o s w e l l
L. G i l p a t r i c as Chairm an of the Board and Federal Reserve A gent for the year 1973.
M r. Gilpatric is a partner in the New Y ork law firm of Cravath, Swaine & Moore. H e
has been serving as a class C director since January 1969; he served as Deputy C hair­
man in 1971 and as Chairm an and Federal Reserve A gent in 1972.
The Board of Governors has appointed F rank R. M il l ik e n a class C director of
this Bank for the three-year term beginning January 1, 1973, and as Deputy Chairm an
for the year 1973. As Deputy Chairman, M r. Milliken, who is President of Kennecott
Copper Corporation, New York, N. Y., succeeds E llison L. H azard, C hairm an of the
Executive Committee of Continental Can Company, Inc., New York, N. Y., whose
term as Deputy Chairm an and as a class C director expires December 31, 1972.
M r. Milliken has been serving as a class B director, elected by member banks in
Group 2, since January 1, 1972. In order to accept the appointment as a class C director,
he has resigned as a class B director, effective December 31, 1972. A special election will
be held by member banks in Group 2 to fill the vacancy caused by his resignation; details
of the election procedure will be sent to you shortly.
Buffalo Branch directors

The Board of Governors has appointed D o n a l d R. N e s b i t t a director of the Buffalo
B ranch of this Bank for a three-year term beginning January 1, 1973. M r. N esbitt is
the owner and operator of Silver Creek Farm s, Albion, N. Y. On the Branch Board,
he succeeds M o r t o n A d a m s , President, Curtice-Burns, Inc., Rochester, N . Y., who has
been a director of the Branch since January 1970, serving as Chairm an of the Branch
Board in 1972.
The Board of D irectors of this Bank has appointed C l a u d e F. S h u c h t e r a director
of the Buffalo Branch for a three-year term beginning January 1, 1973. M r. Shuchter is
President and Chief Executive Officer of M anufacturers and T raders T ru st Company,
Buffalo, N. Y. On the Branch Board, he succeeds D a v i d J. L a u b , C hairm an of the
Board of M arine Midland B ank-W estern, Buffalo, N. Y., who has been a Branch direc­
tor since January 1970.
The Board of this Bank has designated R u p e r t W a r r e n as Chairm an of the Branch
Board for the year 1973. M r. W arren, who is President of Trico Products Corporation,
Buffalo, N. Y., has been a director of the B ranch since January 1971.




A lfred H ay es,

President.