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FE D E R A L R ESER VE BANK OF N EW YORK Circular No. 8 2 2 9 December 2, 1977 ”1 j Election of Directors (By member banks classified in Group 2 on October 18, 1977, that is, member banks with capital and surplus of $3,000,000 to $65,000,000, inclusive, on that date) To the M ember Banks of the Second Federal Reserve District: In accordance with the provisions of section 4 of the Federal Reserve Act, as amended, and Circular No. 8201, dated October 18, 1977, on the nomination of directors of this Bank for terms of office from January 1, 1978 to December 31, 1980, to succeed Raymond W. Bauer, class A director, and W illiam S. Sneath , class B director, whose terms expire December 31, 1977, there are shown on pages 2 and 3 the names of the candidates nominated for such offices, and by whom nominated. To each member bank classified in Group 2 on October 18, 1977, except those member banks that are subsidiaries of multibank holding companies and have not been designated to participate in this election,® the following are being sent with this circular: ( a ) Ballot for use in voting for candidates for 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 of the officers designated for this purpose by the member banks in Group 2 was contained in the above-mentioned circular dated October 18, 1977, 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 of the voting officer should not be written on the ballot, but should be written only on the certificate envelope. (1 ) The ballot should be marked. (2 ) The marked ballot 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 of the list of candidates transmitted herewith. The polls will open at 10 a.m., December 5, 1977, and will close at 12 noon on Tuesday, December 20, 1977, and in order to be counted as valid the ballot must be received by me at or before the latter time. Upon the closing of the polls the ballot box will be opened in the board room of this Bank, the sealed envelopes containing the ballots will be opened, the votes counted and checked by tellers, and the results of 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. F rank R. M illiken , Chairman of the Board. 8 As indicated in Circular No. 82 01 , dated October 18, 1977, section 4 of the Federal Reserve Act, as amended, pro vides that whenever any member banks within the same Federal Reserve District are subsidiaries of the same bank holding company within the meaning of the Rank Holding Company Act of 1956, participation in the nomination or election of directors of Federal Reserve Banks by such member banks, including such bank holding company if it is also a member bank, shall be confined to one of such banks, which may be designated for the purpose by such holding company. Consequently, the ballot of any Group 2 bank that is a subsidiary of a multibank holding company 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 RAYM O N D BAUER President United Counties Trust Company, Elizabeth, New Jersey R a y m o n d W. B a u e r was born in Linden, New Jersey, on August 27, 1915. He was graduated from Dartmouth College in 1937 and also holds a Master of Commercial Science degree from Amos Tuck School of Business Administration at Dartmouth College. In 1942, after receiving a Bachelor of Laws degree from Rutgers University, he was admitted to the New Jersey Bar. Mr. Bauer began his business career in 1940 with C. H. Winans Company, a construction and invest ment corporation in Roselle, New Jersey. He has held various positions with the company, currently serving as its president and director. In 1944 Mr. Bauer was named a director of Linden Trust Company in Linden, New Jersey, and in 1951 he joined the staff of the bank as a vice president. He was appointed executive vice president of the bank in 1956 and president in 1958. In 1961, after the bank merged with Union County Trust Company, Mr. Bauer was named president, chief executive officer, and a director of the bank. Following the merger of Union County with Keansburg-Middletown National Bank in 1972, Mr. Bauer became president, chief executive officer, and a director of United Counties Trust Company, the resultant institution. Presently he serves the bank as chairman, president, and chief executive officer. Mr. Bauer is a past president and current member of the Executive Committee of the New Jersey Bankers Association. He has also served as a member of the American Bankers Association’s Government Relations and Governing Councils, the New Jersey State Banking Advisory Board, and the Board of Gov ernors of the Mortgage Bankers Association. Mr. Bauer is now a class A director of the Federal Reserve Bank of New York, having been elected, on April 15, 1977, for the unexpired portion of the term ending December 31, 1977. Nominated by the following member banks in Group 2 N E W JERSEY Place Name of Bank or Trust Company Hazlet Township Livingston Montclair Newark Raritan Township Rutherford Totowa W ayn e The National State Bank, Elizabeth, N.J. United Jersey B an k /M id State, National Association Livingston National Bank American National Bank & Trust of N ew Jersey Fidelity Union Trust Company The Hunterdon County National Bank of Flemington National Community Bank of N ew Jersey First National Bank of N ew Jersey Prospect Park National Bank Albany Canajoharie Ithaca Middletown Oneonta Riverhead Rochester Saratoga Springs Sayville Schenectady Scotia Utica W ellsville State Bank of Albany Central National Bank, Canajoharie Tompkins County Trust Company Empire National Bank W ilber National Bank The Suffolk County National Bank of Riverhead Security Trust Company of Rochester The Adirondack Trust Company The Oystermen’s Bank and Trust Company The Schenectady Trust Company First National Bank of Scotia The Oneida National Bank and Trust Company of Central New The Citizens National Bank and Trust Company Elizabeth N E W YO R K 2 FEDERAL RESERVE BANK O F NEW YORK B a llo t Group No. 2 Decem ber 2, 1977 This ballot and the certificate on the certificate envelope must be executed by an officer who has been authorized to cast the vote and whose designation has been duly certified to me. The polls will open at 10 a.m. on Decem ber 5, 1977, and will close at 12 noon on Tuesday, Decem ber 2 0 , 1977. This ballot must be returned so as to reach me before the latter time. Failure to observe instructions will invalidate this ballot. F r a n k R. M i l l i k e n , Chairman of the Board. VOTE FOR CLASS A DIRECTOR OF FEDERAL RESERVE BANK OF NEW YORK for term of office from January 1, 1978 to December 31, 1980 C andidate R a y m o n d W . B auer President United Counties Trust Company Elizabeth, N . J. (Indicate vote by X below) o VOTE FOR CLASS B DIRECTOR OF FEDERAL RESERVE BANK OF NEW YORK for term of office from January 1, 1978 to December 31, 1980 C an didate W il l ia m S. Sn e a t h Chairman of the Board Union Carbide Corporation N ew York, N . Y. ( Indicate vote by X below) o DIRECTIONS FOR RETURN OF BALLOT 1. Mark this ballot to indicate vote for each position. 2. Place marked ballot in the pink ballot envelope and seal that envelope. 3. Place sealed pink ballot envelope in certificate envelope and seal certificate envelope and execute certificate thereon. 4. Return sealed and executed certificate envelope (with sealed pink ballot envelope enclosed therein) in envelope addressed to Mr. Frank R. Milliken, Chairman, Board of Directors, Federal Reserve Bank of New York, Federal Reserve P. O. Station, New York, N. Y. 10045. M r . F rank R. M C h a irm a n , il l ik e n , B o a rd o f D ir e c to r s , Federal Reserve Bank of New Y o rk , Federal Reserve P. 0 . Station, New Y ork , N. Y . 1 0 0 4 5 Room 1120 BALLOT ENVELOPE E l e c t io n of D ir e c t o r s of Federal Reserve Bank of New Y o rk The marked preferential ballot should be placed in this envelope, and this envelope should then be sealed and placed in the certificate envelope. CERTIFICATE ENVELOPE This Envelope Should Contain Only Ballot in Sealed Pink Envelope It Will Not Be Opened Until Polls Close 1977 Group No. 2 To Mr. F r a n k R. M i l l i k e n , Chairman of the Board, Federal Reserve Bank of New York. In accordance with section 4 of the Federal Reserve Act, as amended, I hereby certify that my votes for a class A director and a class B director of the Federal Reserve Bank of New York for terms of office from January 1, 1978 to December 31, 1980, are as indicated (by X) in the ballot sealed herein. For (Name o f Bank) (Signature of officer designated to vote. See list of member banks in Group 2 in accompanying circular.) (Location of Bank) (T IT LE of Voting Officer) NOTE: This Notice was mailed out with Circular No. 8229 dtd 12/2/77^ to 12 hanks that are subsidiaries of multi-bank h o l d i n g companies and for which we have not received designations to participate m the election of Directors. December 2, 1977 NOTICE Since your bank is a subsidiary of a bank holding company having more than one bank subsidiary and since this Bank has not yet received evidence that your bank has been designated by such holding company to participate in this year’s election of a class A director and a class B director of this Bank, the enclosed circular is being sent to you without ballot forms. In order for your bank to so participate, we must receive evidence, before December 20, 1977, that the bank holding company of which your bank is a subsidiary has designated your bank to participate in the election. Such evidence should be in the form of a certified resolution of such action by the directors of the holding company. Upon receipt of such evidence, we will send you ballot forms for participation in this year's election. Federal Reserve Bank of New York Candidate for Class B Director WILLIAM S. SNEATH Chairman of the Board Union Carbide Corporation, New York, N. Y. W i l l i a m S. S n e a t h was bom on March 29, 1926, in Buffalo, N. Y. He received a Bachelor of Arts degree from Williams College, Williamstown, Mass., in 1947 and an M.B.A. degree from the Harvard Graduate School of Business Administration in 1950. Mr. Sneath began his career with the general accounting department of Union Carbide Corporation in 1950. Following 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. He became president in April 1971 and was named chairman and chief executive officer on January 1, 1977. He has been a director of the corporation since 1969. Among his other civic and professional activities, Mr. Sneath is a director of the Metropolitan Life Insurance Company and a trustee of Williams College. Mr. Sneath is now a class B director of the Federal Reserve Bank of New York. He was elected, on August 15, 1973, for the unexpired portion of the term ending December 31, 1974, and in December 1974 he was elected a class B director for the three-year term ending December 31, 1977. Nominated by the following member banks in Group 2 N E W JERSEY Place Elizabeth Name of Bank or Trust Company The National State Bank, Elizabeth, N.J. Hazlet Township United Jersey B an k /M id State, National Association Livingston Livingston National Bank Montclair American National Bank & Trust of New Jersey Newark Raritan Township Fidelity Union Trust Company The Hunterdon County National Bank of Flemington Rutherford National Community Bank of New Jersey Totowa First National Bank of N ew Jersey W ayn e Prospect Park National Bank N E W YO R K Albany State Bank of Albany Canajoharie Central National Bank, Canajoharie Ithaca Tompkins County Trust Company Middletown Empire National Bank Oneonta W ilber National Bank Riverhead The Suffolk County National Bank of Riverhead Rochester Security Trust Company of Rochester Saratoga Springs The Adirondack Trust Company Sayville The Oystermen’s Bank and Trust Company Schenectady The Schenectady Trust Company Scotia Utica First National Bank of Scotia The Oneida National Bank and Trust Company of Central New York W ellsville The Citizens National Bank and Trust Company 3 1 9 7 7 Election of Class A and Class B Directors For Terms of Office Ending December 31, 1980 List of 107 Member Banks in Group 2 ( G roup 2 consists o f m em ber banks with capital and surplus o f $ 3 ,0 0 0 ,0 0 0 to $ 6 5 ,0 0 0 ,0 0 0 , inclusive, on O ctober 18, 1 9 7 7 ) C O N N E C T IC U T Place Nam e o f Bank or Trust Company Officers Authorized to Cast Vote Bridgeport The Connecticut National B a n k ...................................................President, any Vice President, or Cashier Bridgeport The State National Bank of Con necticut.................................... President, any Vice President, or Cashier N E W JERSEY Bridgewater Township F irst National Bank o f Central Jersey Clifton New Jersey Bank (N ational Association) Dover United Jersey Bank/N orthw est Elizabeth The National State Bank, Elizabeth, N . J. President, any Vice President, or Cashier Elizabeth United Counties Trust Company . Chairman o f the Board, Chairman o f the Executive Committee, President, or any Vice President Elizabeth United Jersey Bank/Central Hackensack United Jersey Bank . . President, any Vice President, any Assistant Vice President, or Cashier . . President, any Vice President, or Cashier President, any Vice President, Treasurer, or Assistant Treasurer . President, any Vice President, or Treasurer Chairman or Vice Chairman of the Board, or any Vice President Hazlet Township United Jersey B a n k /M id State, National Association President, any Vice President, or Cashier Jersey City Commercial Trust Company of New Jersey . President, any Vice President, or Treasurer Jersey City The First Jersey National B a n k ............................. President, any Vice President, Cashier, or Secretary Jersey City The Trust Company o f New Jersey . President, any Vice President, or Treasurer Livingston Livingston National B a n k ............................. President, any Vice President, or Cashier Maplewood The Maplewood Bank and Trust Company President, any Vice President, Cashier, Treasurer, or Secretary Monroe Township Heritage Bank — North, National Association . President, any Vice President, or Cashier Montclair American National Bank & Trust o f New Jersey Chairman of the Board, President, Executive Vice President, any Vice President, or Secretary Neptune Township First Merchants National Bank . President, any Vice President, or Cashier . Newark Fidelity Union Trust Company Newark First National State Bank of New Jersey . Chairman of the Board, President, any Vice President, or Cashier Newark Midlantic National B a n k ........................................... President, any Vice President, or Cashier Newton Midlantic National B ank/Sussex & Merchants . President, any Vice President, or Cashier President, or any Vice President 4 GROUP 2 NEW JEESEY ( Continued) Place Officers Authorized to Cast Vote Nam e o f Bank or Trust Company Old Bridge Township Amboy-Madison National B a n k .................................... President, any Vice President, or Cashier Paramus Garden State National B a n k ........................................... Chairman of the Board, President, any Vice President, or Secretary Passaic Valley National B a n k ......................................................... President, any Vice President, or Treasurer Piscataway The National Bank of New J e r s e y ............................ President, any Vice President, or Cashier Piscataway The Peoples National Bank of Central Jersey President, any Vice President, or Cashier Plainfield United National B a n k ......................................................... President, any Vice President, or Cashier Earitan Township The Hunterdon County National Bank o f Flemington President, any Vice President, or Cashier Eed Bank Colonial First National B a n k ........................................... President, any Vice President, or Cashier Eidgewood Citizens First National Bank of New Jersey President, any Vice President, or Cashier Eutherford National Community Bank of New Jersey . Chairman of the Board, Chairman of the Executive Committee, President, any Vice President, or Cashier South Plainfield First National State Bank — Edison . Succasunna First National State Bank of Northwest Jersey . Cashier Tenafly First National State Bank — County . President, any Vice President, or Cashier Tenafly Midlantic National B a n k /C itiz e n s ............................. President, any Vice President, or Cashier Totowa First National Bank of New Jersey . Chairman of the Board, President, any Vice President, Cashier, or any Assistant Cashier Union The Union Center National Bank . President, any Vice President, or Cashier W ayne Prospect Park National Bank President, any Vice President, or Cashier Woodbridge Mid-Jersey National Bank . President, any Vice President, or Cashier Wood Eidge The W ood Eidge National Bank President, any Vice President, or Cashier N EW YOEK Albany Bankers Trust Company o f Albany, National Association . President, or any Vice President Albany National Commercial Bank and Trust Company . President, any Vice President, or Cashier A lbany State Bank of A l b a n y ....................................................................... President, any Vice President, or Cashier Albany Union National B a n k ....................................................................... President, any Vice President, or Cashier Arcade The Citizens Central B a n k ................................................................ President, any Vice President, or Cashier Binghamton First-City National Bank of Binghamton, N . Y . President, any Vice President, or Cashier Buffalo Liberty National Bank and Trust Company President, any Vice President, or Cashier Canajoharie Central National Bank, C a n a jo h a r ie ........................................... President, any Vice President, or Cashier Canandaigua The Canandaigua National Bank and Trust Company . President, any Vice President, or Cashier Canton The St. Lawrence National B a n k .................................................. President, any Vice President, or Cashier Cedarhurst Peninsula National B a n k ................................................................ Chairman o f the Board, President, any Vice President, or Cashier Elmira Chemung Canal Trust C o m p a n y .................................................. President, any Vice President, Cashier, Secretary, or Treasurer Endicott Endicott Trust C o m p a n y ................................................................ President, any Vice President, or Treasurer Garden City Long Island Trust C o m p a n y ......................................................... President, or any Vice President Glen Head The First National Bank o f Glen H e a d .................................... President, any Vice President, or Cashier . 5 GROUP 2 NEW YORK ( Continued ) Nam e o f Bank or Trust Company Place Officers Authorized to Cast Vote 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 . President, any Vice President, or Cashier Hempstead Hempstead B a n k ............................................................................... President, any Vice President, or Cashier Hicksville Long Island B a n k .............................................................................. President, any Vice President, or Cashier Ithaca Tompkins County Trust C o m p a n y .................................................. President, any Vice President, or Cashier Jamestown Bankers Trust Company of Western New York President, any Vice President, or Cashier . J amestown The First National Bank of J a m e s t o w n ............................. President, any Vice President, or Cashier Kingston K ingston Trust C o m p a n y ................................................................ President, any Vice President, or Treasurer Liberty The Sullivan County National Bank of Liberty . President, any Vice President, or Cashier Middletown Empire National B a n k ....................................................................... Chairman o f the Board, President, any Vice President, or Cashier Nanuet Nanuet National B a n k ....................................................................... President, any Vice President, or Cashier Newburgh Highland National Bank o f N e w b u r g h .................................... President, any Vice President, or Cashier New York City (See page 7) Norwich The N ational Bank and Trust Company of Norwich Olean Manufacturers Hanover Trust Com pany/W estern, National A s s o c i a t i o n ...................................................................................... President, any Vice President, or Cashier W ilber National B a n k ......................................................... President, any Vice President, or Cashier Ontario Manufacturers Hanover Trust Company/Central New York President, or any Vice President Patchogue Island State B a n k .............................................................................. President Poughkeepsie Bankers Trust Company of Hudson Valley, National A s s o c i a t i o n ...................................................................................... President, any Vice President, or Cashier Poughkeepsie Dutchess Bank & Trust C o m p a n y .................................................. President, any Vice President, or Secretary Riverhead The Suffolk County National Bank of Riverhead President Oneonta . Chairman of the Board, President, any Vice President, or Cashier . Rochester Central Trust Company Rochester N . Y ....................................... President, any Vice President, or Secretary Rochester Lincoln First Bank o f R o c h e s te r .................................................. Chairman of the Board, President, Senior Executive Vice President, any Executive Vice President, or any Senior Vice President Rochester Security Trust Company o f R o c h e s t e r .................................... President, any Vice President, or Secretary Saratoga Springs The Adirondack Trust C o m p a n y .................................................. President, any Vice President, or Treasurer Sayville The Oystermen’ s Bank and Trust C o m p a n y ............................. Chairman o f the Board, President, any Vice President, or Secretary Scarsdale Scarsdale National Bank and Trust Company . . . . President Schenectady The Mohawk National Bank o f Schenectady . . . . Schenectady The Schenectady Trust C o m p a n y .................................................. Chairman of the Board, President, any Vice President, or Treasurer Scotia First National Bank o f S c o t i a .................................................. President, any Vice President, or Cashier Smithtown Bank o f S m ith to w n ............................................................................... President, any Vice President, or Cashier Stony Brook Bank o f Suffolk C o u n t y ................................................................ President, any Vice President, or Cashier Syracuse First Trust & Deposit C o m p a n y .................................................. President, any Vice President, or Secretary Syracuse Lincoln First Bank — Central, National Association President, any Vice President, or Cashier Syracuse The Merchants National Bank & Trust Company o f Syracuse ............................................................................................. . President, any Vice President, or Cashier President, any Vice President, or Cashier GROUP 2 NEW YORK ( Continued) Place U tica Officers Authorized to Cast Vote Nam e o f Bank or Trust Company The Oneida National Bank and Trust Company of Central New Y o r k ............................................................................................. President, any Vice President, or Cashier Watertown The National Bank o f Northern New Y o r k ............................. President, any Vice President, or Cashier W ellsville The Citizens National Bank and Trust Company . President, any Vice President, or Cashier W hite Plains National Bank o f W e stc h e ste r ......................................................... President, any Vice President, or Cashier N E W Y O R K C IT Y Manhattan President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier Century National Bank and Trust C o m p a n y ............................. President, any Vice President, or Cashier Freedom National Bank o f New Y o r k .................................... President, any Vice President, or Cashier The Merchants Bank o f New Y o r k ........................................... President, any Vice President, Cashier, or Assistant Cashier Schroder Trust C o m p a n y ................................................................ President, any Vice President, or Secretary Sterling National Bank & Trust Company o f New York . President, any Vice President, or Cashier U B A F Arab American B a n k ......................................................... Chairman of the Board, Deputy Chairman, President, or any Executive Vice President Union Chelsea National B a n k ......................................................... President, any Vice President, or Cashier United States Trust Company o f New York Richmond Barclays Bank o f New Y o r k ......................................................... Bradford Trust C o m p a n y ................................................................ President, or any Vice President . . . . Community National Bank and Trust Company of New Y o r k ............................................................................................. President, any Vice President, or Cashier P U E R T O RICO H ato Rey Chairman o f the Board, President, any Vice President, or Cashier Banco De Santander — Puerto Rico, N .A . 7
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