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FE D E R AL R E SE R V E B AN K O F N E W YO R K Circular No. 8 4 4 8 November 6, 1978 J Nomination of Directors To All Member Banks, and Others Concerned, in the Second Federal Reserve District: An election will be held under the provisions of section 4 of the Federal Reserve Act, as amended, to choose successors, to serve for three-year terms, to the following directors of this Bank whose terms will expire December 31, 1978: class A director, James W helden, President, Ballston Spa National Bank, Ballston Spa, N. Y., and class B director, John R. M ulhearn, President, New York Telephone Company, New York, N. Y. Both directors were elected by member banks in Group 3 and their successors will be chosen by this group. Member banks in Groups 1 and 2 will not participate in this election. The classification of member banks for the purposes of nomination and election of class A and B directors of the Federal Reserve Bank of New York is as follows: Group 1 consists of banks with capital and surplus of more than $185,000,000; Group 2, of banks with capital and surplus of $5,000,000 to $185,000,000, inclusive; and Group 3, of banks with capital and surplus of less than $5,000,000. 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 3 begins on page 3. Except in the case of any member banks that are subsidiaries of the same bank holding company, * each bank in Group 3 is permitted to nominate a candidate for class A director and Section 4 of the Federal Reserve Act, as amended, reads in part as follows: “. . . That whenever any member banks within the same Federal Reserve district are subsidiaries of the same bank holding company within the meaning of the Bank Holding Company Act of 1956, participation in any such nomination or election 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.” Pursuant to the foregoing provision, a nomination by any bank that is a subsidiary of a multibank holding comnanv cannot be accepted unless there is on file with this Bank evidence that such bank has been so designated. A ccording/ banks in Group 3 affected by the foregoing provision of the law are requested to take prompt action to have the appropriate bank holding company designate, if it has not already designated, one of such banks to particinate in this nomination and election. y 1 11 111 inis If such bank holding company does not have on file with this Bank an appropriate resolution either permanently designating one of such banks to participate in nominations or elections of this Bank’s directors or setting forth the authority under which such designations will be made from time to time, such bank holding company may wkh to file such resolution with this Bank. A form of resolution authorizing officers of a bank holding company to make such designations is enclosed for such bank holding companies. ' cn a candidate for class B director, f The nominations should be made by resolutions of the boards of directors of the nominating banks (or by resolutions of the banks’ executive committees, if such committees are empowered to take such action), and certified copies of such resolutions should be sent to me so as to reach me on or before Friday, December 1, 1978. The enclosed printed forms show the appropriate forms of resolution, and one executed copy of the appropriate form for each nomination should be returned to me. On December 4, 1978, copies of the list of candidates (indicating by whom nominated) and preferential ballots will be mailed to the banks in Group 3. 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., December 5, 1978, and will close at 12 noon on Wednesday, December 20, 1978. 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 the results of the election announced. The candidates may, if they so desire, 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 noon on Wednesday, December 20, 1978). The officers heretofore desig nated for this purpose by each bank in Group 3 are shown on the list beginning on page 3. Any Group 3 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 2 will not participate in this election, this circular is sent to them without forms and for their information only. R o b e r t H. K n ig h t , Chairman of the Board. f Section 4 of the Federal Reserve Act, as amended, reads in part as follows: “Class A shall consist of three members, without discrimination on the basis of race, creed, color, sex, or national origin, who shall be chosen by and be representative of the stockholding 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. “Class B shall consist of three members, who shall represent the public and shall be elected without discrimination on the basis of race, creed, color, sex, or national origin, and with due but not exclusive consideration to the interests of agriculture, commerce, industry, services, labor, and consumers. . . . 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.” [The Board of Governors of the Federal Reserve System has expressed the opinion that it is inappropriate, as a general rule, for directors of Federal Reserve Banks to hold partisan political or public office in the service of the United States, or of any State, Territory, county, district, political subdivision, or municipality thereof, or to act as members of political party committees.] 9 Nomination for Class A Director of Federal Reserve Bank of New York For Three-Year Term Ending December 3 1 , 1981 G roup N o . 3 D istrict N o . 2 At a meeting of the Board of Directors of the ............................................................... (Name of Bank) o f ...............................................................(or of the Executive Committee of such Board) (City or Town and State) duly called and held on t h e ..................... day o f ......................................................... 1978, on motion duly made and seconded, it was “RESOLVED, That ............................................................................................................. . , whose occupation is of be, and is hereby, nominated by this bank as a candidate for class A director of the Federal Reserve Bank of New York for the three-year term ending December 31, 1981, 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 York.” I hereby certify that the foregoing is a true and correct copy of a resolution of the Board of Directors of this bank, or of its Executive Committee, duly adopted on the date specified. I also certify that if the foregoing resolution was adopted by the Executive Committee of this bank’s Board of Directors, such Executive Committee is empowered to so act. (S eal of Bank ) (Official signature) (Title) To MR. ROBERT H. KNIGHT, C h airm an of the B oard of D irectors, F ederal R eserve B ank of N e w Y ork . Nomination for Class B Director of Federal Reserve Bank of New York For Three-Year Term Ending December 3 1 , 1981 D istrict No. 2 Group N o. 3 At a meeting of the Board of Directors of the ............................................................... (Name of Bank) of (City or Town and State) (or of the Executive Committee of such Board) duly called and held on t h e ..................... day o f .......................................................... 1978, on motion duly made and seconded, it was "RESOLVED, That ............................................................................................................. , , whose occupation is of he, and is hereby, nominated by this bank as a candidate for class B director of the Federal Reserve Bank of New York for the three-year term ending December 31, 1981, 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 York.” I hereby certify that the foregoing is a true and correct copy of a resolution of the Board of Directors of this bank, or of its Executive Committee, duly adopted on the date specified. I also certify that if the foregoing resolution was adopted by the Executive Committee of this bank’s Board of Directors, such Executive Committee is empowered to so act. ( Seal of Bank ) (Official signature) (Title) To MR. ROBERT H. KNIGHT, C hairm an of the B oard of D irectors, F ederal R eserve B ank of N e w Y ork . Authorization for Officers o f Bank Holding Company To Designate Subsidiary Member Bank to Participate in Elections o f Directors o f Federal Reserve Bank of New York D istrict N o. 2 At a meeting of the Board of Directors (or of its Executive Committee) of the (Name and Location of Bank Holding Company) duly called and held on the ...................day o f ......................................, 19..........., on motion duly made and seconded, it was “ RESOLVED, that th e .......................................................................................................... (Title(s) of designated officer(s)) of this bank holding company be and (any one of them) is hereby authorized to designate on behalf of the company from time to time one subsidiary bank to participate in the nomination and election of directors of the Federal Reserve Bank of New York; Provided, That such subsidiary bank is a member of the Federal Reserve System and is not otherwise disqualified from participating in such elections. “ RESOLVED FURTHER, That the authority hereby granted shall continue in force until revoked by the Board of Directors of this bank holding company and that such authority heretofore conferred on any officer of this bank holding company is hereby revoked. ’’ I hereby certify that the foregoing is a true and correct copy of a resolution of the Board of Directors of this bank holding company, or of its Executive Committee, duly adopted on the date specified. I also certify that if the foregoing resolution was adopted by the Executive Committee of this company’s Board of Directors, such Executive Committee is empowered to so act. Dated th e .................day o f.............................................., 19................. (Official signature) (S eal of B ank H olding Company ) (Title) To C hairm an of the B oard of D irectors, F ederal R eserve B an k of N ew Y ork . 1978 Election of Class A and Class B Directors For Terms of Office Ending December 31, 1981 List of 164 Member Banks in Group 3 ( Group 3 consists of member banks with capital and surplus of less than $o,000,000, on November 6, 1978) CONNECTICUT Place Fairfield Stamford Westport Officers Authorized to Cast Vote Name of Bank or Trust Company Citizen’s National Bank of F airfield.............................. President, any Vice President, or Cashier Liberty National B a n k ....................................................... President, any Vice President, or Cashier Westport National B a n k ....................................................... President, any Vice President, or Cashier NEW JERSEY Annandale Hunterdon County Trust Company . Bayonne Belleville Belvidere Blairstown Bloomsbury Branch ville Colonia Cranbury Denville Township Edison Elizabeth The Broadway National Bank of Bayonne Peoples Bank, N.A......................................... The First National Bank of Belvidere . The First National Bank of Blairstown . Citizens’ Bank, National Association . The National Bank of Sussex County . First Bank of C olonia............................... Midlantic National Bank/Cranbury President, any Vice President, Treasurer, or Assistant Treasurer President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Tice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Secretary President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier President, any Vice President, or Cashier Englewood Cliffs The Edgewater National B a n k ..................................... President, any Vice President, or Cashier The Flemington National Bank and Trust Company . Flemington President, any Vice President, or Cashier First National Bank in Fort L e e .............................. Fort Lee Franklin Lakes Urban National B a n k ...........................................................President, any Vice President, or Cashier Peapack-Gladstone B a n k ...........................................................President, any Vice President, or Cashier Gladstone Hazlet Township United Jersey Bank/Mid State, National Association President, any Vice President, or Cashier The Hillsborough National B a n k ........................................President, any Vice President, or Cashier Hillsborough Liberty National B a n k ........................................................... President, any Vice President, or Cashier Hillsdale The First National Bank of H o p e........................................President, any Vice President, or Cashier Hope The First National Bank and Trust Company of Kearny Chairman of the Board, President, any \ice Kearny President, or Cashier President, any Vice President, or Cashier Livingston Livingston National Bank . President, any Vice President, or Cashier Manville The Manville National Bank Peoples National Bank of North Jersey Midlantic National Bank/Raritan Valley . City Trust Services, National Association GROUP 3 NEW JERSEY (Continued) Place Maplewood Name of Bank or Trust Company The Maplewood Bank and Trust Company . Maywood Montgomery Township Morristown Community Bank of Bergen County, N. J. . The Montgomery National Bank . Newark Newark Newark Newton North Bergen Passaic Perth Amboy Phillipsburg Piscataway Raritan Secaucus Union City Wood Ridge Officers Authorized to Cast Vote President, any ATice President, Cashier, Treasurer, or Secretary . President, any Vice President, or Cashier President, any Vice President, or Cashier Fidelity Union Trust Company, National Association Chairman of the Board, President, any Vice President, or Cashier Broad National Bank, N ew ark........................................... President, any Vice President, Cashier, or Assistant Cashier City National Bank of New J e rs e y .............................. Chairman of the Board, President, or Cashier Security National Bank of New J e rs e y ......................... Chairman of the Board, President, any Vice President, or Cashier Midlantic National Bank/Sussex & Merchants President, any Vice President, or Cashier Meadowlands National B a n k ........................................... President, any Vice President, or Cashier Jefferson National B a n k ....................................................... Perth Amboy National B a n k ........................................... President, any Vice President, or Cashier The Phillipsburg National Bank and Trust Company President, any Vice President, or Cashier The Peoples National Bank of Central Jersey President, any Vice President, or Cashier State Bank of Raritan V alley ........................................... President, any Vice President, Cashier, or Secretary Arcadia National B a n k ....................................................... Chairman of the Executive Committee, President, any Vice President, or Cashier Pan American National B a n k ........................................... President, any Vice President, or Cashier The Wood Ridge National B a n k ..................................... President, any Vice President, or Cashier NEW YORK Community National Bank . Addison Union National Bank . . . . Albany Alden State B a n k ............................... Alden The First National Bank of Amenia Amenia The Evans National Bank of Angola Angola The Citizens Central Bank . Arcade Atlanta National Bank . . . . Atlanta The National Bank of Auburn . Auburn Bank of A v o c a ............................... Avoca Ballston Spa National Bank . Ballston Spa The Bath National Bank . Bath The Fishkill National Bank . Beacon The State Bank of Belmont, N. Y. . Belmont Bridgehampton The Bridgehampton National Bank United National Bank . . . . Callicoon Central National Bank, Canajoharie Canajoharie President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier 4 GROUP 3 NEW YORK (Continued) Place Canandaigua Canisteo Officers Authorized to Last Vote Name of Bank or Trust Company The Canandaigua National Bank and Trust Company . President, any Vice President, or Cashier First State Bank, Canisteo, N. Y........................................ President, any Vice President, Cashier, or Assistant Cashier Canton The St. Lawrence National B a n k ..................................... President, any Vice President, or Cashier Carmel President, any Vice President, or Cashier The Putnam County National Bank of Carmel . Cattaraugus Bank of C attaraugus............................................................. President, any Vice President, or Cashier Chester The Chester National B a n k .............................. . President, any Vice President, or Cashier Clifton Springs The Ontario National Bank of Clifton Springs . President, any Vice President, or Cashier Clinton Hayes National B a n k ....................................................... President, any Vice President, or Cashier Cortland First National Bank of C ortland..................................... Chairman of the Board, President, any Vice President, or Cashier Coxsaekie The National Bank of Coxsaekie..................................... President, or any Vice President Delhi The Delaware National Bank of D elh i............................... President, any Vice President, or Cashier Downsville The First National Bank of Downsville........................ President, any Vice President, or Cashier Dryden The First National Bank of D ry d en ............................... President, any Vice President, or Cashier Dundee Dundee State B a n k ............................................................. President, or Cashier East Hampton First National Bank of East H am pton........................ President, or Cashier East Islip The First National Bank of East Is lip ............................... President, or Cashier Ellenville Ellenville National B a n k ................................................. President, any Vice President, or Cashier Fleischmanns Deak National B a n k ............................................................. President, any Vice President, or Cashier Florida The National Bank of F lo rid a........................................... President, any Vice President, or Cashier Geneseo Genesee Valley National Bank and Trust Company of Geneseo ................................................................................ President, any Vice President, Cashier, or Executive Officer Geneva The National Bank of G eneva........................................... President, any Vice President, or Cashier The First National Bank of Long Isla n d ........................ President, any Vice President, or Cashier Glen Head City National Bank and Trust Company of Gloversville President, any Vice President, or Cashier Gloversville The Fulton County National Bank and Trust Company Cashier Gloversville First National Bank in G reene........................................... President, any Vice President, or Cashier Greene The First National Bank of G ro to n ............................... President, any Vice President, or Cashier Groton The Citizens National Bank of Hammond........................ President, any Vice President, or Cashier Hammond The First National Bank of H ancock.............................. President, any Vice President, or Cashier Hancock Vanguard National B a n k ................................................... Chairman of the Board, President, any Vice Hempstead President, or Cashier The First National Bank of H erm on............................... President, any Vice President, or Cashier Hermon The First National Bank of H ighland............................... President, any Vice President, or Cashier Highland Holland Bank of H olland................................................................... President, any Vice President, or Cashier Homer The Homer National B a n k ................................................. President, any Vice President, or Cashier First National Bank and Trust Company of Ithaca . Ith aca President, any Vice President, or Cashier The First National Bank of Jam estow n........................ President, any Vice President, or Cashier Jamestown The First National Bank of Jeffersonville . Jeffersonville President, any Vice President, or Cashier 5 ■ ■ GROUP 3 NEW YORK (Continued) Place KeeseviUe Name of Bank or Trust Company The KeeseviUe National B a n k ........................ Kinderhook Kingston La Fargeville Liberty Lisbon Little Falls Lyons Lyons Falls Mahopac The National Union Bank of Kinderhook . The Rondout National Bank.............................. Jefferson National B a n k ..................................... The Sullivan County National Bank of Liberty The First National Bank of Lisbon . The Little Falls National Bank . . . . The Lyons National B a n k ............................... The Lyons Falls National B a n k ........................ The Mahopac National B a n k ........................ Malone Malone Middletown Millbrook Montieello Moravia New York City Newburgh Nichols Norfolk North Tarrytown Odessa Oneida The Citizens National Bank of Malone . Farmers National Bank of Malone . Orange County Trust Company........................ Bank of M illb ro o k ........................................... The National Union Bank of Montieello . The First National Bank of Moravia . Oneonta Ovid Owego Oxford Pawling Wilber National Bank The First National Bank of Ovid . The Owego National Bank . The National Bank of Oxford . The National Bank of Pawling . Pine Plains Poughkeepsie Ramapo Red Hook Redwood Rhinebeck Riverhead Rochester Roxbury rhe Stissing National Bank of Pine Plains Dutchess Bank & Trust Company . Peoples National Bank of Rockland County Fhe First National Bank of Red Hook . rhe Redwood National Bank . . . . rhe First National Bank of Rhinebeck . The Suffolk County National Bank of Riverhead Yrst National Bank of Rochester . rhe National Bank of Roxbury . . . . (See page 7) Officers Authorized to Cast Vote President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Secretary President, any Vice President, or Cashier President, any Vice President, or Cashier President, or any Vice President The Columbus Trust Com pany........................ The Nichols National B a n k ............................... The First National Bank of Norfolk . President, or any Vice President President, any Vice President, or Cashier President, any Vice President, or Cashier The First National Bank of North Tarrytown Finger Lakes National B a n k ........................ The Oneida Valley National Bank of Oneida . President, or Cashier President, any Vice President, or Cashier Chairman of the Board, President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Secretary President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President President, any Vice President, or Cashier President, any Vice President, or Cashier 6 ( 1 f GKOUP 3 NEW YORK (Continued) Place Salamanca Name of Bank or Trust Company Officers Authorkvd to Past Vote Salamanca Trust C om pany.....................................................President, any Vice President, Cashier, or Secretary-Treasurer Saratoga Springs Savannah Scotia Sidney Smithtown Solvav Spencer The Adirondack Trust Company The National Bank of Savannah . First National Bank of Scotia . First National Bank in Sidney . Bank of S m ithtow n .......................... Solvay B a n k ........................................ Tioga State B a n k .......................... Stamford Tupper Lake Union Springs Vernon Walden Walton Waterloo Watertown Watkins Glen Way] and Wellsville Willsboro Yonkers The National Bank of Stamford The Tupper Lake National Bank Cayuga Lake National Bank . The National Bank of Vernon . The Valley National Bank, Wallkill, N. Y. The National Bank of Delaware County, Walton First National Bank of Waterloo . Seaway National B a n k .......................... Glen National Bank and Trust Company The First National Bank of Wayland . The Citizens National Bank and Trust Company Essex County-Champlain National Bank, Willsboro Hudson Valley National Bank . President, any Vice President, or Treasurer President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier President, any Vice President, or Cashier NEW YORK CITY Manhattan Q ueens Richmond Bessemer Trust Company, N.A...............................................President, any Senior Vice President, any Vice President, or Secretary Capital National Bank of New Y o r k .................................Chairman of the Board, President, any Vice President, or Cashier Century National Bank and Trust Company . . . President, any Vice President, or Cashier The Depository Trust Company..............................................Chairman of the Board Freedom National Bank of New Y o rk .................................President, any Vice President, or Cashier Golden Pacific National B a n k ..............................................Chairman of the Board, President, any Vice President, or Cashier Hartford Trust Company of New York (A Limited Purpose Trust C om pany).................................................... President, any Vice President, Treasurer, or Secretary The Merchants Bank of New Y o r k ....................................... President, any Vice President, Cashier, or Assistant Cashier Northwestern Trust Company (A Limited Purpose Trust C o m p a n y )...............................................................................President, any Vice President, Treasurer, or Cashier Flushing National B a n k ........................................................... President, any Vice President, or Cashier Community National Bank and Trust Company of New ^ o r k ............................................................................................ President, any Vice President, or Cashier 7
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