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FEDERAL RESERVE BANK O F NEW YORK r Circular No. 9 1 9 9 "1 L December 1, 1981 J Nomination of Class A Director F o r T e rm of Office E n d in g D ecem ber 31, 1984 To the Member Banks of the Second Federal Reserve District: An election of a class A director of this Bank will be held un d er the provisions of section 4 of th e F ederal Reserve Act, as am ended, to choose a successor, to serve for a three-year term , to J a m e s W h e l d e n , President, Ballston Spa N ational Bank, Ballston Spa, N.Y., w hose term as a class A d irector will expire D ecem ber 31, 1981. Mr. W h eld en teas elected by m em ber banks in Group 3 and his successor w ill be chosen by this group. M em ber banks in Groups 1 and 2 w ill not participate in this election. T he classification of m em ber banks for the purposes of nom ination and election of class A an d B directors of the F ederal Reserve Bank of N ew York is as follows: Group 1 consists of banks with capital and surplus of more than $400,000,000; Group 2, of banks with capital and surplus of $6,500,000 to $400,000,000, inclusive; and Group 3, of banks with capital and surplus of less than $6,500,000. F or the purposes of this election, a m em ber b ank’s classification will be determ ined by its capital and surplus as of the date of this circular, even though its capital and surplus m ay change before the polls close. T he list of banks com prising G roup 3 begins on page 3. Except in the case of any m em ber banks th a t are subsidiaries of the sam e bank holding co m p an y ,0 each m em ber bank in G roup 3 is p erm itted to nom inate a candidate for class A ° 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 company cannot be accepted unless there is on file with this Bank evidence that such bank has been so designated. Accordingly, banks 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 participate in this nomination and election. If such bank holding company does not have on file with this Bank an anprooriate resolution e th e r permanently designating one of such banks to participate in nominations or elections of th*s Bank’s directors or setting forth the authority under which such designations will be made from time to time, such bank holding company may wish 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. I director, f T he nom inations should be m ade by resolutions of the boards of directors of the nom inat ing banks ( or by resolutions of the banks’ executive com m ittees, if such com m ittees are em pow ered to take such a c tio n ), and certified copies of such resolutions should be sent to m e so as to reach m e on or before M onday, D ecem ber 28, 1981. T he enclosed p rin ted form shows the appropriate form of resolution, and one executed copy of the form should be retu rn ed to me. O n D ecem ber 29, 1981, copies of the list of candidates (in d icatin g by w hom nom inated) and preferen tial ballots will be m ailed to the banks in G roup 3. T he law provides th a t the ballot shall be cast w ithin 15 days after receipt of this list. T he polls will open at 10 a.m., D ecem ber 30, 1981, an d will close at 12 noon on T hursday, January 14, 1982. U pon the closing of the polls, the ballot box will be opened in the board room of this Bank, th e votes counted and checked by tellers, and the result of the election announced. T he candidates m ay, if they so desire, be p resen t or represented on th at occasion. In order to be counted as valid, the ballot m ust be executed by an officer authorized to cast the vote and m ust be received by m e at or before the tim e thus fixed for the closing of the polls (i.e., at or before 12 noon on T hursday, January 14, 1982). T he officers heretofore desig n a te d for this purpose by each bank in G roup 3 are show n on the list beginning on page 3. Any G roup 3 bank th a t desires to change its authorization should do so by resolution of its board of directors; a certified copy of such resolution m ust reach m e before the polls close. A form for this purpose will be furnished upon request. Because banks in G roups 1 and 2 w ill not participate in this election, this circular is sent to th e m w ith o u t form s and for their inform ation only. R o b e r t H. K n i g i i t , Chairm an 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. “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 d'rectors 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.] 2 1 J Election of Class A Director For Term of Office Ending December 31, 1984 List of 155 Member Banks in Group 3 (G ro u p 3 con sists o f m e m b e r ban ks ivitli ca p ita l and su rp lu s o f less th an $ 6 ,5 0 0 ,0 0 0 , , on D e c e m b e r 1 1 9 8 1 .) CONNECTICUT Place Fairfield Name of Bank or Trust Company Citizen’s National Bank of F a irfie ld ......................... Officers Authorized to Cast Vote . President, any Vice President, or Cashier NEW JERSEY Annandale Hunterdon County Trust C om pany............................... . President, any Vice President, Treasurer, or Assistant Treasurer Bayonne The Broadway National Bank of Bayonne . . President, any AHce President, or Cashier Belleville Peoples Bank, N.A............................................... . President, any Vice President, or Cashier Belvidere The F irst National Bank of Belvidere . President, any Vice President, or Cashier Blairstown The F irst National Bank of Blairstown President, any Vice President, or Cashier Brancliville The National Bank of Sussex County . President, any Vice President, or Cashier Colonia F irst Bank of C o lo n ia ......................... President, any Vice President, or Secretary Cranbury Midlantic National Bank/Cranbury President, any Vice President, or Cashier Denvillc Township Peoples National Bank of North Jersey 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 Bank . . . . President, any Vice President, or Cashier The Flemington National Bank and Trust Company President, any Vice President, or Cashier F ort Bee F irst National Bank in F ort Lee President, any Vice President, or Cashier Franklin Lakes Urban National Bank . President, any Vice President, or Cashier Gladstone Peapack-Gladstone Bank . President, any Vice President, or Cashier Hillsborough The Hillsborough National Bank President, any Vice President, or Cashier Hillsdale Liberty National Bank . President, any Vice President, or Cashier Hope The F irst National Bank of Hope 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 Livingston National B a n k ............................... President, any Vice President, or Cashier Manville The Manville 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 Flemington GROUP 3 NEW JERSEY (Continued) Place Name of Bank or Trust Company Officers Authorized to Cast Vote Maywood Community Bank of Bergen County, N. J ...................... President, any Vice President, or Cashier Montgomery Township The Montgomery National B a n k ..................................... President, any Vice President, or Cashier Morristown Fidelity Union Trust Company, National Association Chairman of the Board, President, any Vice President, or Cashier Newark Broad National B a n k ....................................................... President, any Vice President, Cashier, or Assistant Cashier 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 NeAvton Midlantic National Bank/Sussex & Merchants . President, any Vice President, or Cashier North Bergen Meadowlands National B a n k ........................................... President, any Vice President, or Cashier Passaic Jefferson National B a n k ....................................................... Perth Amboy The F irst National B a n k /C e n tr a l............................... Phillipsburg The Phillipsburg National Bank and Trust Company President, President, any Vice President, or Cashier any Vice President, or Cashier Piscataway The Peoples National Bank of Central Jersey President, any Vice President, or Cashier Succasunna First National State Bank of Northwest Jersey . Cashier Union The Union Center National B a n k ..................................... 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 NEW YORK Addison Community National B a n k ........................................... Albany Union National B a n k ................................................. President, any Vice President, or Cashier Alden Alden State B a n k ............................................................. President, any Vice President, or Cashier Amenia The F irst National Bank of A m e n ia ........................ President, any Vice President, or Cashier Angola The Evans National Bank of A n g o la ........................ President, President, any Vice President, or Cashier any Vice President, or Cashier Atlanta A tlanta National B a n k ................................................. President, any Vice President, or Cashier Avoca Bank of A v o c a ............................................................. President, any Vice President, or Cashier Ballston Spa Ballston Spa National B a n k ..................................... President, any Vice President, or Cashier Bath The Bath National B a n k ........................................... President, any Vice President, or Cashier Beacon The Fishkill National B a n k ........................................... President, any Vice President, or Cashier Bridgcliampton The Bridgcliampton National B a n k ........................ President, any Vice President, or Cashier Callicoon United National B a n k ................................................. President, any Vice President, or Cashier Canajoharie Central National Bank, C a n a jo h a rie ........................ President, any Vice President, or Cashier Canandaigua The Canandaigua National Bank and Trust Company President, any Vice President, or Cashier Canisteo F irst State Bank, Canisteo, N. Y.................................. President, any Vice President, Cashier, or Assistant Cashier 4 GROUP 3 NEW YORK (Continued) Place Canton Name of Bank or Trust Company Officers Authorized to Cast Vote 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 C a tta ra u g u s............................................................. President, any Vice President, or Cashier Chester Key Bank of Southeastern New York, N.A....................... 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 F irst National Bank of C o rtla n d ..................................... Chairman of the Board, President, any Vice President, or Cashier Coxsackie The National Bank of C oxsackie..................................... Delhi The Delaware National Bank of D e lh i............................... President, any Vice President, or Cashier Downsville The F irst National Bank of D ow nsville........................ President, or any Vice President President, any Vice President, or Cashier Dry den The F irst National Bank of D ry d e n ............................... President, any Vice President, or Cashier Dundee Dundee State B a n k ............................................................. President, or Cashier E ast Hampton The Bank of the Hamptons, N.A........................................ President, or Cashier E ast Islip Bank of Long Island, National Association . . . . President, or Cashier Ellenville Ellenville National B a n k ................................................. . President, any Vice President, or Cashier Endicott Endicott Trust C o m p a n y ................................................. President, any Vice President, or Treasurer Fleischmanns 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 Geneva The National Bank of G e n e v a ........................................... President, any Vice President, or Cashier Glen Head The F irst National Bank of Long I s la n d ........................ President, any Vice President, or Cashier Glens Falls Glens Falls National Bank and Trust Company . President, any Vice President, or Cashier Glovcrsville City National Bank and Trust Company of Gloversville President, any Vice President, or Cashier Gloversville The Fulton County National Bank and Trust Company Cashier Groton The F irst National Bank of G r o to n ............................... President, any Vice President, or Cashier Ilammond The Citizens National Bank of H am m ond........................ President, any Vice President, or Cashier Hancock The F irst National Bank of H an c o ck ............................... President, any Vice President, or Cashier Hempstead Guardian Bank, N.A................................................................ Chairman of the Board, President, any Vice President, or Cashier Her mon The F irst National Bank of I le r m o n .............................. President, any Vice President, or Cashier Highland The First National Bank of H ig h la n d ............................... President, any Vice President, or Cashier President, any Vice President, or Cashier Holland Bank of H o lla n d ................................................................... Jeffersonville The First National Bank of Jeffersonville . Keescville The Keeseville National B a n k ........................................... President, any Vice President, Cashier, or Assistant Cashier Kinderhook The National Union Bank of K inderhook........................ President, any Vice President, or Cashier Kingston The Rondout National B ank................................................. 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 F irst National Bank of L i s b o n ............................... President, any Vice President, or Cashier 5 . . . President, any Vice President, or Cashier GROUP 3 NEW YOBK ( Continued) Name of Bank or Trust Company Place Officers Authorized to Cast Vote 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 Mahopae The Mahopae 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 M a lo n e ........................ President, any Vice President, or Cashier Middletown Orange County Trust C om pany..................................... President, any Vice President, or Secretary Millbrook Bank of M il lb r o o k ....................................................... President, any Vice President, or Cashier Moravia The F irst National Bank of M o ra v ia ........................ President, or any Vice President President, any Vice President, or Cashier Nanuet Nanuet National B a n k ................................................. New York City ( see page 7) Newburgh The Columbus Trust C o m p an y ..................................... President, or any Vice President Newburgh Highland National Bank of Newburgh . President, any Vice President, or Cashier Nichols The Nichols National B a n k ........................................... President, any Vice President, or Cashier Norfolk The F irst National Bank of N o rf o lk ........................ President, any Vice President, or Cashier North Tarry town The F irst National Bank of North Tarrytown . President, or Cashier Odessa Finger Lakes National B a n k ..................................... President, any Vice President, or Cashier Olean Manufacturers Hanover Trust Company/Western, National A s s o c ia tio n ................................................. President, any Vice President, or Cashier Oneida The Oneida Valley National Bank of Oneida . Chairman of the Board, President, any Vice President, or Cashier Oneonta Wilber National B a n k ................................................. President, any Vice President, or Cashier Ovid The First National Bank of O v id ............................... President, any Vice President, or Cashier The Owego National B a n k ........................................... President, any Vice President, or Cashier Oxford The National Bank of O x fo r d ..................................... President, any Vice President, or Cashier Pawling The National Bank of P a w lin g ..................................... President, any Vice President, Cashier, or Assistant Cashier Owego Pine Plains The Stissing National Bank of Pine Plains . President, any Vice President, or Cashier Poughkeepsie Dutchess Bank & Trust C o m p an y ............................... President, any Vice President, or Secretary Bamapo Peoples National Bank of Kockland County . President, any Vice President, or Cashier Bed Ilook The F irst National Bank of Bed Hook . President, any Vice President, or Cashier Bedwood The Bedwood National B a n k ..................................... President, any Vice President, or Cashier Bhinebeck The F irst National Bank of Bhinebeck . President, any Vice President, or Cashier Eiverhead The Suffolk County National Bank of Biverhead President Bochester F irst National Bank of B o c h ester............................... President, any Vice President, or Cashier Boxburv The National Bank of B o x b u rv ..................................... President, Salamanca Trust C o m p an y ........................................... President, any Vice President, Cashier, or Secretary-Treasurer Salamanca any Vice President, or Cashier Saratoga Springs The Adirondack Trust C o m p a n y .....................................President, any Vice President, or Treasurer Savannah The National Bank of S a v a n n a h .....................................President, any Vice President, or Cashier 6 GROUP 3 NEW YORK ( Continued) Place Schenectady Name of Bank or Trust Company Officers Authorized to Cast Vote The Mohawk National Bank of Schenectady . President, any Vice President, or Cashier Scotia F irst National Bank of Scotia 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 Walton The National Bank of Delaware County, Walton . President, any Vice President, or Cashier Waterloo F irst National Bank of W a te rlo o ........................ President, any Vice President, or Cashier Watertown Seaway National Bank President, any Vice President, or Cashier Wayland The F irst National Bank of Wayland . . . . President, any Vice President, or Cashier Wellsville Key Bank of Western New York, N.A. . President, any Vice President, or Cashier Willsboro Essex Countv-Champlain National Bank, Willsboro President, any Vice President, or Cashier Yonkers Hudson Valley National B a n k ............................... President, any Vice President, or Cashier NEW YOEK CITY M anhattan Bank America Securities Service Company of New York (A Limited Purpose Trust C o m p a n y )........................ ........................................................... Bessemer Trust Company, N.A............................................President, any Senior Vice President, any Vice President, or Secretary Bradford Trust C o m p a n y .................................................Chairman of the Board, President, any Vice President, or Cashier Capital National Bank of New Y o r k ...............................Chairman of the Board, President, any Vice President, or Cashier Central National Bank of New Y o r k ............................... ........................................................... Chairman of the Board The Depository Trust Company . Freedom National Bank of New York . President, any Vice President, or Cashier Golden Pacific National Bank . Chairman of the Board, President, any Vice President, or Cashier Gotham Bank of New York . . . . H artford Trust Company of New York (A Limited Purpose Trust C o m p an y ).................................................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 Queens Flushing National Bank President, any Vice President, or Cashier S t a t e n I sl a n d Gateway State Bank . Chairman of the Board, President, or any Vice President 7 Mr . R obert H. K night, C hairm an , B oard o f D irecto rs, Federal Reserve Bank of New York, Federal Reserve P. 0 . Station, New York, N. Y. 10045 Room 1120 December 1, 198 1 To the Addressee: The enclosed circular and nomination form relate to an election, by Group 3 banks, of a class A (banker) director of this Bank, which will be held on January lU, 19 8 2 . The nomination period in this election ends on December 28, 1 9 8 1 . You have already received the circular and nomination form relating to the separate election, also by Group 3 banks, of a class B (nonbanker) director of this Bank, which will be held on December 31» 1981. The nomination period in that election ends on December lU, 1 9 8 1 . Circulars Division FEDERAL RESERVE BANK OF NEW YORK Nomination for Class A Director of Federal Reserve Bank of New York For Three-Year Term Ending December 31, 1984 D is t r ic t N o .2 G roup N o .3 At a meeting of the Board of Directors of the ................................................................ (Nam e of Bank) of ................................................................ (or of the Executive Committee of such Board) (City or Town and State) duly called and held on t h e ...................... day o f .............................................................. 1981, on motion duly made and seconded, it was “RESOLVED, That .......................................... ......................................................................., of , whose occupation is 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, 1984, 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 Ba n k ) ( Official signature) (T itle) To MR. ROBERT H. KNIGHT, C h a ir m a n o f t h e B oard o f D irectors , F ed eral R eserve B a n k o f N e w York . COMMITTEE ON RECOMMENDATION OF CANDIDATES FOR DIRECTORS OF THE FEDERAL RESERVE BANK OF NEW YORK December 1,1981 Recommendation of Candidate in Election of Class A Director of the Federal Reserve Bank of New York To All Member Banks in the Second Federal Reserve District: The Federal Reserve Bank of New York will hold an election to choose a successor, for the threeyear term ending December 31, 1984, to James Whelden, a class A director. Member banks in Group 3 — that is, member banks with capital and surplus of less than $6,500,000 — will participate in this election. The undersigned committee, appointed by the bankers associations of New York, New Jersey, and Connecticut to make recommendations to member banks of candidates for directors of the Federal Reserve Bank of New York, and to inform member banks of the qualifications of these candidates, recommends for nomination by Group 3 banks the following individual, who has consented to serve if elected: For Class A Director ROBERT A. ROUGH President The National Bank of Sussex County, Branchville, N. J. Robert A. Rough was born in New York City on May 9, 1939. He received a B.S. degree in economics from Villanova University in 1961. Mr. Rough began his banking career as a bank examiner with the Federal Reserve Bank of New York. In 1965 he joined the National Bank of New Jersey as an auditor. He was employed as vice presi dent of The National Bank of Sussex County in 1969. He was appointed executive vice president in charge of the investment and loan portfolios and the bank’s money position, as chief executive officer, and as a director in April 1972. He became president of the bank in April 1978. His civic and professional activities include membership on the executive committees of the New Jersey Bankers Association, the Commercial Bankers Association of New Jersey, and the Branchville Businessmens Club. He served on the executive committee of the Community Bankers Division of the American Bankers Association for four years. Mr. Rough was a member of the Sussex County Economic Development Commission and has served as president of the Sussex County Bankers Association and chairman of the Director-Management Conference of the New Jersey Bankers Association. In addition, he taught at the American Institute of Banking. THOMAS G. LABRECQUE, Committee Chairman President, The Chase Manhattan Bank, N.A. New York, New York ALEXANDER HAWLEY Chairman, Connecticut National Bank Bridgeport, Connecticut ROBERT R. FERGUSON, JR. Chairman, First National State Bank of New Jersey Newark, New Jersey FRANK H. ODELL President, State Bank of Albany Albany, New York THOMAS L. GRAY, JR. Executive Vice President, Peoples National Bank of North Jersey Denville, New Jersey CARL ULMER President, The Evans National Bank Angola, New York 485 LEXINGTON AVENUE NEW YORK, N Y. 10017 August T O THE E X E C U T I V E O F F I C E R OF THE 14, 1981 I N S T I T U T I O N ADDRESSED: The f o l l o w i n g c o m m ittee has b e e n appointed for the purpose of r e c o m m e n d i n g candidates for D i r e c t o r s of the Federal Reserve B a n k of N ew York: The N ew Y o r k State B a n k e r s Association is r e p r e s e n t e d by: Thomas G. Labrecque, C H A I R M A N Vice Chairman, Chase M a n h a t t a n B a n k N.A. New York, N ew Yor k Frank H. Odell President, State B a n k of Albany Albany, N ew Y ork Carl U l mer President, The Evans N a t i o n a l B a n k Angola, Ne w Y o r k The N e w Jersey B a n kers Association Thomas L. Gray, Jr. Executive Vice President, Denville. N e w Jersey is r e p r e s e n t e d by: P e o ples N a t i o n a l B ank of N o rth Jersey Robert R. Ferguson, Jr. Chairman, First N a t i o n a l State B a n k of New Jersey Newark, N e w Jersey The C o n n e c t i c u t B a n k e r s A s s o c i a t i o n is r e p r e s e n t e d by: Alexander Hawley Chairman, Conn e c t i c u t N a t i o n a l B a n k B r i d geport, C o n n ecticut ' The report of the c o m m i t t e e w i l l be m a i l e d to you shortly. Sincerely,
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