The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK O F N EW Y O R K rCircular No. 7 5 1 4 ~ 1 L December 2, 1974 J Election of Directors (B y m em ber hanks classified in Group 2 on O ctober 29, 1974, that is, m em ber banks with capital and surplus o f $3,000,000 to $65,000,000, inclusive, on that date) To the M em ber Banlcs o f the Second Federal R eserve D istrict: In accordance with the provisions of section 4 of the Federal Reserve A ct, as amended, and Circular No. 7490, dated October 29, 1974, on the nomination of directors o f this Bank for terms o f office from January 1, 1975 to December 31, 1977, to succeed N o r m a n B r a s s l e r , class A director, and W i l l i a m S . S n e a t h , class B director, whose terms expire December 31, 1974, there are shown on pages 2 and 3 the names o f the candidates nominated for such offices, and by whom nominated. To each member bank classified in Group 2 on October 29, 1974, except those member banks that are subsidiaries o f the same bank holding company and have not been designated to participate in this election,* the following are being sent with this circu la r: (a) Ballot for use in voting for candidates fo r class A director and class B director. (b ) Pink ballot envelope in which the ballot is to be sealed. (c ) Certificate envelope bearing on its face the certificate in regard to the vote. (d ) Addressed envelope in which all of the foregoing should be returned to me. The ballot and the certificate on the certificate envelope must be executed by an officer who has been authorized to cast the vote. A list o f the officers designated for this purpose by the member banks in Group 2 was contained in the above-mentioned circular dated October 29, 1974, and a similar list revised to date is contained herein. In order that the ballot may be secret, the name of the bank and the name and title o f the voting officer should not be written on the ballot, but should be written only on the certificate envelope. (1) A fter the ballot has been marked, (2) It should be placed in the pink ballot envelope and that, envelope sealed. (3 ) Then the sealed pink ballot envelope should be placed within the certificate envelope, and the certificate envelope should be sealed and the certificate thereon executed. (4) Then the certificate envelope containing the sealed pink ballot envelope should be returned to me in the enclosed addressed envelope. The law provides that the ballot shall be cast within 15 days after receipt o f the list o f candidates transmitted herewith. The polls will open at 10 a.m., December 3, 1974, and will close at 12 noon on W ednesday, December 18, 1974, and in order to be counted as valid the ballot must be received by me at or before the latter time. Upon the closing o f the polls the ballot box will be opened in the board room o f this Bank, the sealed envelopes containing the ballots will be opened, the votes counted and checked b y tellers, and the results o f the election announced. The candidates may, if they so desire, be present or represented on this occasion. Because banks in Groups 1 and 3 will not vote in this election, this circular is sent to them without forms and, for their information only. R o s w e l l L . G il p a t r ic , Chairman of the Board. * A s indicated in Circular N o. 7490, dated October 29, 1974, section 4 o f the Federal Reserve A ct, as amended, provides that Avhenever any member banks within the same Federal Reserve D istrict are subsidiaries o f the same hank holding com pany within the meaning o f the Bank H olding Company A ct o f 1956, participation in the nomination or election o f directors o f Federal Reserve Banks b y such member banks, including such bank holding com pany i f it is also a member bank, shall be confined to one o f such banks, which may be designated fo r the purpose b y such holding com pany. Consequently, the ballot o f any Group 2 bank that is a subsidiary o f a holding com pany having more than one bank subsidiary cannot be counted as valid unless there is on file with me evidence that such bank has been so designated. Candidate for Class A Director STUART McCARTY President First-C ity National Bank o f Binghamton, Binghamton, N. Y. S t u a r t M c C a r ty was born January 20, 1923 in Kenosha, Wis., and now resides in Binghamton, N. Y. He received a Bachelor o f Arts degree from Harvard University in 1944 and an M .B.A. degree from the New Y ork University Graduate School of Business Adm inistration in 1951. Mr. M cCarty began his banking career with The Hanover Bank (a predecessor o f Manufacturers Hanover Trust Com pany) in 1946, and served as vice president o f that bank and its successor bank from 1960 to 1963. He joined First-C ity National Bank o f Binghamton in 1963, becoming executive vice presi dent of that bank in 1964, president in 1967, and chief executive officer in 1968; he has been a director of the bank since 1966. In addition, Mr. M cCarty has been serving as a vice president and director o f Lincoln First Banks, Inc., the parent holding company of First-City National, since 1968. Am ong his many civic and professional activities, Mr. M cCarty is a director o f Crowley Foods, Inc., Systems M anufacturing Corp., Security Mutual Life Insurance Company, and the Conrad and V irginia Klee Foundation, Inc., and is chairman of the Link Foundation. He has also served as a member o f the Comptroller of the C u rrency’s Regional A dvisory Committee for the Second National Bank Region. Nominated by the following member banks in Group 2 C O N N E C T IC U T Place Name o f Bank or Trust Company B ridgeport The Connecticut N ational Bank NEW JERSEY Piscataw ay W oodbridge The Peoples N ational Bank o f Central Jersey M id-Jersey N ational Bank NEW YORK Canajoharie Elm ira Glen Cove Hempstead Ithaca New Y ork City Manhattan Oneonta Poughkeepsie Riverhead Rochester Schenectady Schenectady Syracuse Syracuse U tica W hite Plains Central N ational Bank, Canajoharie Chemung Canal Trust Company Nassau Trust Company Hempstead Bank Tom pkins County Trust Company United States Trust Company o f New Y ork W ilber N ational Bank Dutchess Bank & Trust Company The Suffolk County N ational Bank o f Riverhead Security Trust Company o f Rochester The Mohawk N ational Bank o f Schenectady The Schenectady Trust Company First Trust & D eposit Company Marine M idland Bank — Central The Oneida N ational Bank and Trust Company o f Central New Y ork The County Trust Company 2 Candidate for Class B Director WILLIAM S. SNEATH President Union Carbide Corporation, New York, N. Y . W i l l i a m S. S n e a t h was born March 29, 1926, in Buffalo, N. Y ., and now resides in Riverside, Conn. He received a Bachelor of Arts degree from W illiams College, W illiamstown, Mass., in 1947 and an M .B.A. degree from the Harvard Graduate School of Business Adm inistration in 1950. Mr. Sneath began his career with the general accounting department o f Union Carbide Corporation in 1950. Follow ing his transfer to the finance department in 1956, he was appointed assistant secretary and assistant treasurer in May 1961 and later that year became treasurer. In 1965 Mr. Sneath was elected vice president and treasurer, and designated chief financial officer, and in A pril 1971 he became president. He has been a director o f the corporation since 1969. In addition, Mr. Sneath is a member of the management committee o f the M etropolitan Variable Account B (a management investment com pany) and a trustee o f W illiams College and o f Brunswick School, Greenwich, Conn. Mr. Sneath is now a class B director o f the Federal Reserve Bank of New York, having been elected, on August 15, 1973, for the unexpired portion of the term ending December 31, 1974. Nominated by the following member banks in Group 2 C O N N E C T IC U T Place Name o f Bank or Trust Company B ridgeport The Connecticut N ational Bank N EW JERSEY Piscataw ay W oodbridge The Peoples National Bank o f Central Jersey M id-Jersey N ational Bank NEW YORK Canajoharie Glen Cove Hempstead Ithaca New Y ork City Manhattan Oneonta Poughkeepsie Riverhead Rochester Schenectady Schenectady Syracuse Syracuse U tica W atertown W hite Plains Central National Bank, Canajoharie Nassau Trust Company Hempstead Bank Tompkins County Trust Company United States Trust Company o f New Y ork W ilber National Bank Dutchess Bank & Trust Company The Suffolk County N ational Bank o f Riverhead Security Trust Company o f Rochester The Mohawk N ational Bank o f Schenectady The Schenectady Trust Company First Trust & D eposit Company Marine M idland Bank — Central The Oneida National Bank and Trust Company o f Central New Y ork The National Bank o f Northern New Y ork The County Trust Company 1974 Election of Directors List of 118 Member Banks in Group 2 ( Group 2 consists of member banks with capital and surplus of $3,000,000 to $65,000,000, inclusive, on October 2 9 ,1 9 7 4 ) C O N N E C T IC U T Place Officers Authorized to Cast V ote Name o f Bank or Trust Company B ridgeport The City National Bank o f C o n n e c tic u t........................... . Chairman o f the Board, the V ice Chairman, President, any V ice President, or Secretary Bridgeport The Connecticut N ational B a n k ........................................ . President, any V ice President, or Cashier Bridgeport The State National Bank o f Connecticut . . . . . President, any V ice President, or Cashier President, any V ice President, or Cashier N EW JE R SE Y Basking Ridge Somerset Hills & County National Bank . . . . Clifton New Jersey Bank (N ational A ssociation) . . . . President, any V ice President, or Cashier Dover The Dover Trust C o m p a n y ............................................... President, any Vice President, Treasurer, or Assistant Treasurer Elizabeth The National State Bank, Elizabeth, N. J ......................... President, any V ice President, or Cashier Elizabeth United Counties Trust C o m p a n y ........................................ Chairman o f the Board, Chairman o f the Executive Committee, President, or any V ice President Chairman or V ice Chairman o f the Board, or any Vice President Hackensack Hazlet Township United Jersey B a n k /M id State, N ational Association . Jersey City Commercial Trust Company o f New Jersey . Jersey City The First Jersey National B a n k ........................................ . . President, any Vice President, or Treasurer . Jersey City President, any V ice President, Cashier, or Secretary President, any Vice President, or Treasurer Madison Township Am boy-M adison National B a n k ............................................. The Maplewood Bank and Trust Company . . . . Maplewood . President, any V ice President, or Cashier . President, any V ice President, Cashier, Treasurer, or Secretary Monroe Township Montclair President, any V ice President, or Cashier American National Bank & Trust o f New Jersey . Chairman o f the Board, President, Executive V ice President, any V ice President, or Secretary Morristown H eritage Bank, National Association — Iron Neptune Newark First Merchants National Bank . Fidelity Union Trust C o m p a n y ........................................ Newark First National State Bank o f New Jersey . Newark M idlantic N ational B a n k ...................................................... The National Bank o f New J e r s e y .................................. President, any Vice President, or Cashier New Brunswick Newton M idlantic N ational B ank /S ussex & Merchants . President, any V ice President, or Cashier Paramus Garden State N ational B a n k ............................................... Passaic Bank o f Passaic and Clifton, N ational Association . President, any V ice President, or Treasurer Piscataway The Peoples National Bank o f Central Jersey . President, any Vice President, or Cashier . . . President, any Vice President, or Cashier . . . . . . President, any Vice President, or Cashier President, or any V ice President • Chairman o f the Board, President, any Vice President, or Cashier President, any Vice President, or Cashier . Chairman o f the Board, President, any Vice President, or Secretary United N ational B a n k ............................................................. Raritan Township The Hunterdon County National Bank o f Flem ington . Plainfield Red Bank Colonial First N ational B a n k ............................................... Ridgewood Citizens First National Bank o f New Jersey . . . . National Community Bank o f Rutherford . . . . Rutherford 4 President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier . President, any V ice President, or Cashier Chairman o f the Board, Chairman o f the Executive Committee, President, any V ice President, or Cashier GROUP 2 N E W JERSEY (Continued ) Officers Authorized to Cast V ote Name o f Bank or Trust Company Place Somerville First National Bank o f Central J e r s e y ................................. South Plainfield The Edison Bank, National Association . Spring Lake Succasunna Tenafly Tenafly Totowa F irst N ational State Bank o f the Jersey Coast . . . . F irst N ational State Bank o f Northwest Jersey County Trust Company o f North Jersey, N .A ........................ M idlantic National Bank /C itiz e n s .............................................. First N ational Bank o f New J e r s e y ........................................ Union The Union Center National B a n k ............................................... W ayne The Prospect Park N ational B a n k ........................................ M id-Jersey National B a n k ............................................................ W oodbridge . . . . President, any V ice President, any Assistant Vice President, or Cashier . President, any V ice President, or Cashier Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier Chairman o f the Board, President, any V ice President, Cashier, or any Assistant Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any Vice President, or Cashier NEW YORK Albany Albany Albany Albany The Bank o f New Y ork, A l b a n y ........................................ Bankers Trust Company o f Albany, National Association National Commercial Bank and Trust Company . Albany Union National B a n k ................................................................... The Citizens Central Bank ..................................................... M anufacturers Hanover Trust C om pany/S uffolk, National A s s o c ia tio n ....................................................................................... First-City National Bank o f Binghamton, N. Y. . A rcade B ay Shore Binghamton Buffalo Buffalo Buffalo Canajoharie Canton Cedarhurst State Bank o f Albany . ...................................................... Liberty National Bank and Trust C o m p a n y ........................... M anufacturers and Traders Trust Company . . . . Niagara Frontier Bank o f New Y o r k ........................................ Central National Bank, C a n a jo h a r ie ........................................ The St. Lawrence National B a n k ............................................... Peninsula National B a n k ........................................ East Setauket Elm ira Marine Midland Tinker National B a n k ................................. Chemung Canal Trust Company . . ........................... Elmira Marine Midland Bank — S o u t h e r n ................................. Endicott Garden City Glen Cove Long Island Trust C o m p a n y ..................................................... Nassau Trust C o m p a n y ................................. ...... Glens Falls Glens Falls Gloversville Hempstead Hicksville Ithaca .Tainestown Jamestown Jamestown Kingston Liberty Middletown The F irst National Bank o f Glens Falls ........................... Glens Falls National Bank and Trust Company . . . . City National Bank and Trust Company o f Gloversville Hempstead B a n k ............................................................................... Long Island National B a n k ...................................................... Tompkins County Trust C o m p a n y ............................................... Bankers Trust Company o f Western New Y ork . . . . The First National Bank o f J a m e s to w n ................................. Marine M idland Bank — Chautauqua, N ational Association Kingston Trust C o m p a n y ........................................ ...... The Sullivan County National Bank o f Liberty . . . . Em pire N ational B a n k ................................................................... Nanuet Newburgh New Y ork City Norwich Nanuet National B a n k ................................................................... H ighland N ational Bank o f Newburgh (S ee page 6) The N ational Bank and Trust Company o f Norwich . Oneonta Patch ogue W ilber National B a n k ................................................................... Bankers Trust o f Suffolk, National Association . . . . 5 President, President, President, President, President, President, any V ice President, or Cashier or any V ice President any Vice President, or Cashier any Vice President, or Cashier any V ice President, or Cashier any V ice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any V ice President, or Secretary President, any Vice President, or Treasurer President, any V ice President, or Cashier President, any V ice President, or Cashier Chairman o f the Board, President, any Vice President, or Cashier President, any V ice President, or Cashier President, any V ice President, Cashier, Secretary, or Treasurer Chairman o f the Board, President, or any V ice President President, any V ice President, or Treasurer President, or any V ice President President, any V ice President, Cashier, or Secretary President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Treasurer President, any V ice President, or Cashier Chairman o f the Board, President, any V ice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Cashier Chairman o f the Board, President, any Vice President, or Cashier President, any V ice President, or Cashier Chairman o f the Board, President, any Vice President, or Cashier GROUP 2 N E W YORK (Continued ) Place Patchogue Poughkeepsie Poughkeepsie Poughkeepsie Riverhead Rochester Rochester Rochester Name o f Bank or Trust Company Officers Authorized to Cast V ote Island State B a n k .......................................................................... Bankers Trust Hudson Valley, N ational Association . Dutchess Bank & Trust C o m p a n y ............................................... Marine Midland Bank o f Southeastern New Y ork, N . A . . The Suffolk County National Bank o f Riverhead . Bankers Trust Company o f Rochester . . . . . . . Central Trust Company Rochester N. Y ...................................... Lincoln First Bank o f R o c h e s t e r ............................................... Rochester Security Trust Company o f Rochester Sayville The Oysterm en’ s Bank and Trust C o m p a n y ........................... Scarsdale Schenectady Schenectady Scarsdale N ational Bank and Trust Company . . . . The Mohawk National Bank o f S ch e n e cta d y ........................... The Schenectady Trust C o m p a n y .................................. Smithtown Spring Valley Bank o f S m ith to w n .......................................................................... Bankers Trust o f Rockland County . ........................... Stony Brook Syracuse Syracuse Syracuse Bank o f Suffolk C o u n t y ............................................................. First Trust & Deposit C o m p a n y ............................................... Syracuse The Merchants Syracuse Troy Utica Marine Midland Bank — Eastern, National Association The Oneida National Bank and Trust Company o f Central New Y o r k ............................................... ........................... Valley Stream Watertown Valley Bank o f New Y o r k ............................................................. Marine Midland Bank — N o r t h e r n ........................................ Watertown The National Bank o f Northern New Y o r k ........................... The Citizens National Bank and Trust Company . Wellsville W hite Plains White Plains . . . . . . Lincoln First Bank — Central, National Association . Marine Midland Bank — C e n t r a l............................................... National Bank & Trust Company o f ................................................................................ The County Trust C o m p a n y ...................................................... National Bank o f W e s t c h e s t e r ............................................... President President, any V ice President, or Cashier President, any V ice President, or Secretary President, any V ice President, or Cashier President President, or any V ice President President, any V ice President, or Secretary Chairman o f the B oard, President, Senior Executive V ice President, any Executive V ice President, or any Senior V ice President President, any V ice President, or Secretary Chairman o f the Board, President, any V ice President, or Secretary President President, any V ice President, or Cashier Chairman o f the Board, President, any Vice President, or Treasurer President, any Vice President, or Cashier President, Executive Vice President, any Vice President, or Secretary President, any V ice President, or Cashier President, any V ice President, or Secretary President, any V ice President, or Cashier Chairman o f the Board, President, Executive Vice President, any V ice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any V ice President, or Cashier President, any V ice President, or Secretary Chairman o f the Board, President, any Vice President, or Secretary President, any V ice President, or Cashier President, any V ice President, or Cashier President, or any Vice President President, any V ice President, or Cashier N E W Y O R K C IT Y B rooklyn Republic National Bank o f New Y o r k .................................. M anhattan American Bank & Trust C o m p a n y ........................................ Barclays Bank o f New Y o r k ...................................................... Century National Bank and Trust C o m p a n y ........................... Chelsea National B a n k ................................................................... The Merchants Bank o f New Y o r k ........................................ Sterling National Bank & Trust Company o f New Y ork United States Trust Company o f New Y o r k ........................... President, any V ice President, Cashier, or Assistant Cashier President, any V ice President, or Secretary President, any V ice President, or Cashier President, or any V ice President Community National Bank and Trust Company o f New Y ork President, any Vice President, or Cashier Schroder Trust Company . . . R ic h m o n d Chairman o f the Board, President, any Vice President, or Cashier President, or any V ice President President, any V ice President, or Cashier President, any Vice President, or Cashier ........................................ V IR G IN IS L A N D S St. T hom as Charlotte Am alie V irgin Islands National B a n k ...................................................... 6 President