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FED ER A L R ESER VE BANK O F NEW YORK No. 8 2 4 3 - 1 [ Circular December 22, 1977 J Designation of Chairman of the Board of this Bank To the Member Banks of the Second Federal Reserve District: T he B oard o f G overnors o f the Federal Reserve System has reappointed R obert H. K n ig h t a class C director o f this Bank fo r the three-year term beginning January 1, 1978, and has designated him Chairman o f the B oard and Federal Reserve A gen t fo r the year 1978. M r. K night, w ho is a partner in the N ew Y o rk law firm o f Shearman & Sterling, has been serving as a class C director and D ep uty Chairman since F ebruary 1976. A s Chairman and Federal Reserve A gent, he succeeds F r a n k R. M il l ik e n , w ho has resigned as a class C director effective D ecem ber 31, 1977. M r. Milliken, w ho is President o f K ennecott Copper Corporation, N ew Y ork , N .Y ., served as a class B director in 1972 and has served as a class C director since January 1973; he served as D eputy Chairman during 1973, 1974, and 1975 and has been serving as Chairman and Federal Reserve A gen t since January 1, 1976. Pa ul A. V o lc ker , P r e s id e n t.
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