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FEDERAL RESERVE BANK OF NEW YORK f* Circular No. 8 4 6 6 *1 L December 4, 1978 J Election of Directors (By member banks classified in Group 3 on November 6, 1978, that is, member banks with capital and surplus of less than $5,000,000 on that date) To the Member Banks of the Second Federal Referee District.- In accordance with the provisions of section 4 of the Federal Reserve A ct, as am ended, and Circular N o. 8448, dated N ovem ber 6, 1978, on the nomination of directors of this Bank for terms of ofBce from January 1, 1979 to D ecem ber 31, 1981, to succeed JAMES W H EL D E N , class A director, and JOHN R. M u rH E A R N , class B director, whose terms expire D ecem ber 31, 1978, there are shown on pages 2 through 4 the names of the candidates nom inated for such offices, and by w hom nominated. To each m em ber bank classified in Group 3 on N ovem ber 6, 1978, except those m em ber banks that are subsidiaries of multibank holding companies and have not been designated to participate in this election,* the follow ing 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 m em ber banks in Group 3 was contained in the above-m entioned circular dated N ovem ber 6, 1978, 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 nam e 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 ) T h e 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 en velope.should be sealed and the certificate thereon executed. (4 ) Then the certihcate envelope containing the sealed pink ballot envelope should be returned to m e 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 ., D ecem ber 5, 1978, and will close at 12 noon on W ed n esd a y , D ecem ber 20, 1978, and in order to be counted as valid the ballot must be received by m e at or before the latter time. U pon 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. T h e candidates may, if they so desire, be present or represented on this occasion. Because hanks in Groups J and 2 tcid not uofe in this auction , this circuiar is sent to them toitho-ut Jorms and /o r their in/orm ation onh/. ROBERT H . KNIGHT, Chairm an o / the Board. * As indicated in Circular No. 8448, dated November 6, 1978, 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 Bank 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 3 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. Candidates for Class A Director NICHOLAS L. DEAK President D eak National Bank, Fleischmanns, N e w York NICHOLAS L . DEAK was born in H ungary on O ctober 8, 1905. H e graduated with a doctorate in economics and Rnance from the University of N euchatel, Switzerland, in 1929. M r. D eak is presently an A djun ct Professor at the N ew York L a w School, teaching International Banking. H e is past Chairm an of the International C om m ercial Lending Com m ittee of the American Bankers Association, and past Chairm an of the Board of Trustees of the Perkiomen C ollege Preparatory School in Pennsburg, Pennsylvania, and presently a Trustee of the School. H e was an instructor of various courses at schools of the Am erican Bankers Association in Com m ercial Lending. M r. D eak cam e to the U nited States for the first time in 1937, and he settled dow n in 1939. H e joined the U .S. A rm y during W o r ld W a r II and served with the Office of Strategic Services ( O S S ) , and sub sequently with the State D epartm ent until 1946, at which tim e he was discharged with the rank of Major. H e is im m ediate past president of the Veterans of OSS. H e assum ed the presidency of the D eak National Bank in 1958, and has been president of the bank since. M r. D eak is also the head of the Deak-Perera Group of foreign exchange firms, with 60 offices in the U n ited States, C anada, Europe, and the Far East. M r. D eak has published numerous studies and articles in the field of monetary policies and inter national hnance. Nominated by the following member banks in Group 3 N E W YORK Place Name of Bank or Trust Company Fleischmanns Deak National Bank 2 ( Candidates for Class A Director (Continued) JAMES W HELDEN President Ballston Spa National Bank, Ballston Spa, N ew York JAMES WHELDEN was born January 9, 1927, in Saratoga Springs, N . Y. H e was graduated from Bentley C ollege, W alth am , Massachusetts, in 1949. H e has also attended the Independent Bankers Association of America's Senior Executive M anagem ent School at Harvard University, and the N ew York State Bankers Association s Executive M anagem ent School at W e st Point, N ew York. M r. W h eld en joined the Ballston Spa National Bank in 1950 as a bookkeeper. H e was appointed assistant cashier of the bank in 1953 and was nam ed assistant vice president in 1958. In 1965 he was prom oted to vice president. H e assumed his present position as president of the bank in 1971. A m on g his many civic and professional activities, Mr. W h eld en is a m em ber of the Lon g Range Planning Com m ittee and the A d H o c Advertising Com m ittee of the N ew York State Bankers Association, and a m em ber of the Loan Com m ittee of the N ew York State Business D evelopm ent Corporation. In addi tion, he has served as president of the N ew York Independent Bankers Association, the Schenectady Chapter of the Am erican Institute of Banking, and the Saratoga-W arren-W ashington C ounty Bankers Association. H e is also a past director o f the Financial C om puter Center of Eastern N ew York, Inc. H e is now a class A director of the Federal Reserve Bank of N ew York, having been elected in April 1978 for the unexpired portion of the term ending D ecem ber 31, 1978. Nominated by the following member banks in Group 3 N E W JERSEY Place Livingston Morristown Phillipsburg Name of Bank or Trust Company Livingston National Bank Fidelity Union Trust Company, National Association The Phillipsburg National Bank and Trust Company N E W YORK Addison Ballston Spa Beacon Callicoon Uanajoharie Cortland Hermon Kinderhook Middletown Monticello Oneida Oneonta Riverhead Tupper Lake Walden Wayland Willsboro Yonkers Community National Bank Ballston Spa National Bank The Fisbkill National Bank United National Bank Central National Bank, Canajoharie First National Bank of Cortland The First National Bank of Hermon The National Union Bank of Kinderhook Orange County Trust Company The National Union Bank of Monticello The Oneida Valley National Bank of Oneida W ilber National Bank The Suffolk County National Bank of Riverhead The Tupper Lake National Bank The Valley National Bank, Wallkill, N. Y. The First National Bank of Wayland Essex County-Champlain National Bank, Willsboro Hudson Valley* National Bank 3 Candidate for Class B Director JOHN R. MULHEARN President N e w York Telephone C om pany, N ew York, N. Y. JOHN R. MuLHEARN was born in Jersey City, N ew Jersey, on April 16, 1924. H e was graduated from M anhattan C ollege with a Bachelor of Electrical Engineering degree in 1948, and from Stevens Institute of T echnology with a Master of Science degree in 1951. M r. M ulhearn joined N e w York Telephone in 1948. Follow ing various assignments at N ew York Telephone and other Bell System companies, he was appointed vice president-personnel in 1963. H e becam e a director and vice president-administration in April 1970 and was nam ed executive vice president in 1971. In D ecem ber 1973 he joined the parent company, American Telephone and Telegraph C om pany, as vice president and directed the Bell System Corporate Policy Seminar. Mr. Mulhearn's next assignment as a vice president of A T & T was that of preparing material in connection with the Justice D ep a rtm en ts antitrust suit against the Bell System. In April 1976 he returned to the N ew York Telephone C om pan y as its president. M r. M ulhearn is chairman of the board of trustees of M anhattan C ollege and a Airlines, the Am erican Republic L ife Insurance C om pany of N ew York, the Carrier M unicipal Art Society. H e is also on the executive board of Th e American Red Cross is N e w York State chairman for the 1980 United States O lym pic Com m ittee, and is a C lean N e w Y ork." director of A lleghany Corporation, and the in Greater N ew York, chairman of "I Love H e is now a class B director of the Federal Reserve Bank of N ew York, having been elected in April 1977 for the unexpired portion of the term ending D ecem ber 31, 1978. Nominated by the following member banks in Group 3 N E W JERSEY Place Livingston Morristown Phillipsburg Name of Bank or Trust Company Livingston National Bank Fidelity Union Trust Company, National Association The Phillipsburg National Bank and Trust Company N E W YORK Addison Beacon Callicoon Canajoharie Cortland Hermon Kinderhook Middletown Monticello Oneida Oneonta Riverhead Tupper Lake Walden Wayland Willsboro Yonkers Community National Bank The Fishkill National Bank United National Bank Central National Bank, Canajoharie First National Bank of Cortland The First National Bank of Hermon The National Union Bank of Kinderhook Orange County Trust Company The National Union Bank of Monticello The Oneida Valley National Bank of Oneida Wilber National Bank The Suffolk County National Bank of Riverhead The Tupper Lake National Bank The Valley National Bank, Wallkill, N. Y. The First National Bank of Wayland Essex County-Champlain National Bank, Willsboro Hudson Valley National Bank 4 1 9 7 8 Election of Class A and Class B Directors For Terms of Office Ending December 31, 1981 List of 164 M ember Banks in Group 3 CroMp 3 constsfs o / member captfa% surplus o / f/tart ^5,000,000, o n /Vot^em&er 6 , CONNECTICUT Place Name of Bank or Trust Company Of&eers Authorized to Cast Vote FairReld Citizen's National Bank of F a ir h e ld ........................... Stamford Liberty National Bank . . President, any Vice President, or Cashier "Westport Westport National Bank . . President, any Vice President, or Cashier President, any Vice President, or Cashier N E W JER SE Y Annandale Hunterdon County Trust Company President, any Vice President, Treasurer, or Assistant Treasurer Bayonne The Broadway National Bank of Bayonne . President, any Vice President, or Cashier Belleville Peoples Bank, N .A .................................................... President, any Vice President, or Cashier Belvidere The First National Bank of Belvidere . President, any Vice President, or Cashier Blairstown The First National Bank of Blairstown . President, any Vice President, or Cashier Bloomsbury Citizens' Bank, National Association . President, any Vice President, or Cashier Branehville The National Bank of Sussex County . President, any Vice President, or Cashier Colonia First Bank of C o lo n ia ......................................... President, any Vice President, or Secretary Cranbury Midlantie National Bank/Cranbury President, any Vice President, or Cashier Denville Township Peoples National Bank of North Jersey . President, any Vice President, or Cashier Edison Midlantie National Bank/Raritan Valley . President, any Vice President, or Cashier Elizabeth City Trust Services, National Association Chairman of the Board, President, any Vice President, or Cashier Englewood Cliffs The Edgewater National B a n k ............................................... President, any Vice President, or Cashier Flemington The Flemington National Bank and Trust Company . President, any Vice President, or Cashier Fort Lee First National Bank in Fort L e e ......................................... President, any Vice President, or Cashier Franklin Lakes Urban National President, any Vice President, or Cashier Gladstone Peapack-Gladstone B a n k ......................................... Bank. . Hazlet Township United Jersey Bank/Mid . . State, National Association President, any Vice President, or Cashier President, any Vice President, or Cashier Hillsborough The Hillsborough National B a n k ......................................... President, any Vice President, or Cashier Hillsdale Liberty National B a n k ......................................... President, any Vice President, or Cashier Hope The First National Bank of H o p e .......................................... President, any Vice President, or Cashier Kearny The First National Bank and Trust Company of Kearny Chairman of the Board, President, any Vice President, or Cashier Livingston Manville Livingston National B a n k ...................................................... President, any Vice President, or Cashier The Manville National B a n k ................................................ President, any Vice President, or Cashier 5 GROUP 3 NEW JERSEY (Continued; Name of Bank or Trust Company Place Officers Authorized to Cast Vote Maplewood The Maplewood Bank and Trust Company President, any Vice President, Cashier, Treasurer, or Secretary Maywood Community Bank of Bergen County, N. J. President, any Vice President, or Cashier Montgomery Township The Montgomery National Bank President, any Vice President, or Cashier Morristown Fidelity Union Newark Broad National Bank, Newark . Newark City National Bank of New J e r s e y .................................. Chairman of the Board, President, or Cashier Newark Security National Bank of New J e r s e y ........................... Chairman of the Board, President, any Vice President, or Cashier Newton Midlantic National Bank/Sussex & Merchants . President, any Vice President, or Cashier North Bergen Mcadowlands National B a n k ................................................ President, any Vice President, or Cashier Passaic Jefferson National B a n k ............................................................. Perth Amboy Perth Amboy National B a n k ................................................ Phillipsburg The Phillipsburg National Bank and Trust Company President, any Vice President, or Cashier Trust . Company, National Association . .................................. Chairman of the Board, President, any Vice President, or Cashier President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, or Cashier Piscataway The Peoples National Bank of Central Jersey President, any Vice President, or Cashier Raritan State Bank of Raritan V a l l e y ............................................... President, any Vice President, Cashier, or Secretary Secaucus Arcadia National B a n k ............................................................. Chairman of the Executive Committee, President, any Vice President, or Cashier Union City Pan American National B a n k ................................................ President, any Vice President, or Cashier Wood Ridge The Wood Ridge National B a n k ......................................... President, any Vice President, or Cashier N E W YO RK Addison Community National Bank . Albany Union National Bank . . President, any Vice President, or Cashier . President, any Vice President, or Cashier . Alden Alden State B a n k .................................. President, any Vice President, or Cashier Amcnia The First National Bank of Amenia President, any Vice President, or Cashier Angola The Evans National Bank of Angola President, any Vice President, or Cashier Arcade The Citizens Central Bank . President, any Vice President, or Cashier Atlanta Atlanta National Bank Auburn The National Bank of Auburn . of . . . President, any Vice President, or Cashier . President, any Vice President, or Cashier President, any Vice President, or Cashier Avoca Bank Ballston Spa Ballston A v o c a .................................. Bath The Bath National Bank . President, any Vice President, or Cashier Beacon The Fislikill National Bank . President, any Vice President, or Cashier Belmont The State Bank of Belmont, N. Y . . President, any Vice President, or Cashier Bridgehampton The Bridgehampton National Bank President, any Vice President, or Cashier Callicoon United National Bank President, any Vice President, or Cashier Canajoharie Central National Bank, Canajoharie Spa National Bank . . . . President, any Vice President, or Cashier . . President, any Vice President, or Cashier 6 nnr mi mimuHHmi GROUP 3 N E W Y O R E fConf Muted) Place Officers Authorized to Cast Vote Name of Bank or Trust Company Canandaigua The Canandaigua National Bank and Trust Company . President, any Vice President, or Cashier Canisteo 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 The Putnam County National Bank of Carmel . President, any Vice President, or Cashier Cattaraugus Bank of Cattaraugus.................................................................... 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 o rtla n d ......................................... Chairman of the Board, President, any Vice President, or Cashier Coxsackie The National Bank of C oxsack ie......................................... President, or any Vice President Delhi The Delaware National Bank of D e lh i.................................. President, any Vice President, or Cashier Downsville The First National Bank of D ow n sville........................... President, any Vice President, or Cashier Dry den The First National Bank of D r y d e n .................................. President, any Vice President, or Cashier Dundee Dundee State B a n k .................................................................... President, or Cashier East Hampton First National Bank of East H a m p to n ........................... President, or Cashier East Islip The First National Bank of East I s l i p .................................. President, or Cashier Ellenville Ellenville National B a n k ..................................................... j President, any Vice President, or Cashier Fleisehmanns Deak National B a n k .................................................................... President, any Vice President, or Cashier Florida The National Bank of F lo r id a ................................................ President, any Vice President, or Cashier Geneseo Genesee Valley National Bank and Trust Company of Geneseo ........................................................................................ Geneva President, any Vice President, Cashier, or Executive Officer President, any Vice President, or Cashier The National Bank of G e n e v a ........................................ Glen Head The First National Bank of Long Is la n d ........................... President, any Viee President, or Cashier Gloversville City National Bank and Trust Company of Gloversville President, any Vice President, or Cashier Gloversville The Fulton County National Bank and Trust Company Cashier Greene First National Bank in G reen e......................................... . President, any Vice President, or Cashier Groton The First National Bank of G r o to n .................................. President, any Vice President, or Cashier Hammond The Citizens National Bank of H am m ond........................... President, any Viee President, or Cashier Hancock The First National Bank of H an co ck .................................. President, any Vice President, or Cashier Hempstead Vanguard National B a n k ........................................................ Chairman of the Board, President, any Vice President, or Cashier Hermon The First National Bank of H e r m o n .................................. President, any Vice President, or Cashier Highland The First National Bank of H igh la n d .................................. President, any Vice President, or Cashier Holland Bank of H o lla n d .......................................................................... President, any Vice President, or Cashier Homer The Homer National B a n k ...................................................... President, any Vice President, or Cashier Ithaca First National Bank and Trust Company of Ithaca . President, any Vice President, or Cashier Jamestown The First National Bank of Jam estow n........................... President, any Vice President, or Cashier Jeffersonville The First National Bank of Jeffersonville . President, any Vice President, or Cashier 7 . . . GROUP 3 NEW YORK f Continued) Place Officers Authorized to Cast Vote Name of Bank or Trust Company . . President, any Vice President, Cashier, or Assistant Cashier Keeseville The Keeseville National Bank . Kinderhook The National Union Bank of Kinderhook . President, any Vice President, or Cashier Kingston The Rondout National Bank......................................... President, any Vice President, or Cashier La Fargeville Jefferson National B a n k ............................................... President, any Vice President, or Cashier Liberty The Sullivan County National Bank of Liberty . President, any Vice President, or Cashier Lisbon The First National Bank of Lisbon . President, any Vice President, or Cashier Little Falls The Little Falls National B a n k ........................... President, any Vice President, or Cashier Lyons The Lyons National B a n k ......................................... President, any Vice President, or Cashier Lyons Falls The Lyons Falls National B a n k .................................. President, any Vice President, or Cashier Mahopac The Mahopac National B a n k .................................. Chairman of the Board, President, any Vice President, or Cashier Malone The Citizens National Bank of Malone . President, any Vice President, or Cashier Malone Farmers National Bank of Malone . . . . . . . . President, any Vice President, or Cashier Middletown Orange County Trust C om pany.................................. President, any Vice President, or Secretary Millbrook Bank of M i l l b r o o k ...................................................... President, any Vice President, or Cashier Monticello The National Union Bank of Monticello . President, any Vice President, or Cashier Moravia The First National Bank of Moravia . . President, or any Vice President New York City fgee pa^e 9) N ewburgh The Columbus Trust' C om p an y .................................. President, or any Vice President Nichols The Nichols National B a n k ......................................... President, any Vice President, or Cashier . President, any Vice President, or Cashier . President, or Cashier . Norfolk The First National Bank of Norfolk . North Tarrytown The First National Bank of North Tarrytown Odessa Finger Lakes National B a n k .................................. President, any Vice President, or Cashier Oneida The Oneida Valley National Bank of Oneida . Chairman of the Board, President, any Vice President, or Cashier . . . President, any Vice President, or Cashier Oneonta Wilber National Bank Ovid The First National Bank of Ovid . President, any Vice President, or Cashier Owego The Owego National Bank . President, any Vice President, or Cashier Oxford The National Bank of Oxford . President, any Vice President, or Cashier Pawling The National Bank of Pawling . President, any Vice President, Cashier, or Assistant Cashier Pine Plains The Stissing National Bank of Pine Plains . President, any Vice President, or Cashier Poughkeepsie Dutchess Bank & Trust C om p an y ........................... President, any Vice President, or Secretary Ramapo Peoples National Bank of Rockland County . President, any Vice President, or Cashier Red Hook The First National Bank of Red Hook . President, any Vice President, or Cashier Redwood The Redwood National B a n k .................................. President, any Vice President, or Cashier Rhinebeck The First National Bank of Rhinebeck . President, any Vice President, or Cashier Riverhead . . . . The Suffolk County National Bank of Riverhead President Rochester First National Bank of R ochester........................... President, any Vice President, or Cashier Roxburv The National Bank of R o xb u ry .................................. President, any Vice President, or Cashier 8 GROU P 3 NEW YORK f Continued) Place Officers Authorized to Cast V ote Name of Bank or Trust Company Salamanca Salamanca Trust Company . President, any Vice President, Cashier, or Secretary-Treasurer Saratoga Springs The Adirondack Trust Company President, any Vice President, or Treasurer Savannah The National Bank of Savannah President, any Vice President, or Cashier Scotia First National Bank of Scotia President, any Vice President, or Cashier Sidney First National Bank in Sidney President, any Vice President, or Cashier Smithtown Bank of Smithtown President, any Vice President, or Cashier Solvay Solvay Bank President, any Vice President, or Cashier Spencer Tioga State Bank President, any Vice President, Cashier, or Assistant Cashier Stamford The National Bank of Stamford President, any Vice President, or Cashier Tupper Lake The Tupper Lake National Bank President, any Vice President, or Cashier Union Springs Cayuga Lake National Bank President, any Vice President, or Cashier Vernon The National Bank of Vernon President, any Vice President, or Cashier Walden The Valley National Bank, Wallkill, N. Y . . . President, any Vice President, or Cashier Walton The National Bank of Delaware County, Walton . President, any Vice President, or Cashier Waterloo First National Bank of Waterloo President, any Vice President, or Cashier Watertown Seaway National Bank President, any Vice President, or Cashier Watkins Glen Glen National Bank and Trust Company . President, any Vice President, or Cashier Wayland The First National Bank of Wayland . . . . President, any Vice President, or Cashier Wellsville The Citizens National Bank and Trust Company . President, any Vice President, or Cashier Willsboro Essex County-Champlain National Bank, Willsboro President, any Vice President, or Cashier Yonkers Hudson Valley National B a n k .................................. President, any Vice President, or Cashier N E W YO R K C ITY MANHATTAN Bessemer Trust Company, N .A .......................... President, any Senior Vice President, any Vice President, or Secretary Capital National Bank of New York . 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 Com pany........................... Chairman of the Board Freedom National Bank of New York . 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 o m p a n y )...................................................... President, any Vice President, Treasurer, or Secretary The Merchants Bank of New Y o r k ........................................ Northwestern Trust Company (A Limited Purpose Trust C o m p a n y ) ................................................................................. President, any Vice President, Cashier, or Assistant Cashier President, any Vice President, Treasurer, or Cashier QUEENS Flushing National B a n k ............................................................. President, any Vice President, or Cashier RICHMOND Community National Bank and Trust Company of New Y o r k ...............................................................................................President, any Vice President, or Cashier 9
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