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FEDERAL RESERVE BANK OF NEW YORK Circular No. 940*1 November 13, 1929 J Nominations for Directors To the Member Banks in District No. 2: In accordance with the provisions of Section 4 of the Federal Keserve Act and my Circular No. 937 dated October 21, 1929, in regard to election of directors of this bank to succeed ROBERT H. TREMAN, Class A director, and THEODORE F. WHITMARSH, Class B director, whose terms expire December 31, 1929, there are given on the following pages the names of the candidates nominated for such directors, indicating by whom nominated. There is sent herewith to each bank in Group 2 a preferential ballot for use in voting on the candidates for Class A director and Class B director. There is also enclosed an envelope bearing on its face the certificate in regard to the vote; also a red colored envelope marked "Ballot", in which the ballot is to be sealed. The ballot and certificate on the envelope must be executed by the officer who has been authorized to cast the vote. A list of the designated officers was attached to my circular above mentioned. In order that the ballot may be secret, the name of the bank and of the voting officer should not be written on the ballot, but only on the certificate envelope. (1) After the preferential ballot has been marked, (2) It should be placed in the colored envelope marked "Ballot" and the envelope sealed. (3) Then after the certificate on the certificate envelope is executed the colored sealed envelope should be placed within and the certificate envelope sealed. (4) Then this certificate envelope containing the sealed ballot envelope should be returned to me in the enclosed self-addressed envelope. Under the law, the ballot must be returned so as to reach me within 15 days after its receipt. The polls will open on November 15 and close at noon on December 2, 1929. At that time 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 results of the election announced. Any of the candidates is invited to be present or represented on this occasion. While the banks in Groups 1 and 3 will not vote in this election, this circular is sent to them without forms for their information. Respectfully, GATES W. MCGARRAH, Chairman of the Board. Nominee for Class A Director THOMAS W. STEPHENS, OF MONTCLAIR, N. J. President of the Bank of Montclair THOMAS W. STEPHENS was born in Omaha, Nebraska, in September, 1866. His first banking experience was as mail clerk with the First National Bank of Omaha in 1882. In the fall of 1888, he was active in the~formation and: was the first cashier of the Bank of Montclair, which was the first state institution in New Jersey to become a member of the Federal Reserve System. From 1897 to 1914 he was in business for himself in New York City, dealing in investment securities, under the firm names of Wilson & Stephens, and later, T. W. Stephens & Company. In 1914 he became President of the Ansco Company, manufacturing photographic supplies. During these years Mr. Stephens kept his connection with the Bank of Montclair as a Director, as Vice-President, and after 1911 as President, and in 1922 he retired from the Ansco Company to devote full time to the Bank of Montclair. He is a director of a number of business corporations, served on Montclair Liberty Loan Committees, and has also been active in the New Jersey Bankers Association. Nominated by the following member banks in Group 2 CONNECTICUT Bank or Trust Company Place South Norwalk City National Bank of South Norwalk NEW JERSEY Allentown Asbury Park Carteret East Orange Hackensack Hoboken Hoboken Jersey City Montclair Morristown Newark Newark Nutley Orange Orange Orange Passaic Passaic Paterson Paterson Perth Amboy Plainfield Pompton Lakes Red Bank Union City Westfield Farmers National Bank of Allentown Asbury Park National Bank and Trust Company First National Bank of Carteret First National Bank of East Orange Peoples Trust and Guaranty Company First National Bank of Hoboken Jefferson Trust Company Labor National Bank of Jersey City Bank of Montclair First National Bank of Morristown Colonial Trust Company of Newark, N. J. National State Bank of Newark Bank of Nutley Orange National Bank Second National Bank of Orange Trust Company of Orange American National Bank of Passaic Peoples Bank and Trust Company First National Bank of Paterson Hamilton Trust Company of Paterson Perth Amboy National Bank Plainfield Trust Company First National Bank and Trust Company of Pompton Lakes Broad Street National Bank of Red Bank National Bank of North Hudson at Union City Westfield Trust Company NEW YORK Albion Amityville Amsterdam Auburn Binghamton Binghamtcn Bronxville Canandaigua Cohoes Cooperstown Cortland Cortland Delhi Dunkirk Citizens National Bank of Albion First National Bank and Trust Company of Amityville First National Bank of Amsterdam Cayuga County National Bank of Aubnrn City National Bank of Binghamton First National Bank of Binghamton Gramatan National Bank and Trust Company of Bronxville Canandaigua National Bank and Trust Company National Bank of Cohoes First National Bank of Cooperstown National Bank of Cortland Second National Bank and Trust Company of Cortland Delaware National Bank of Delhi Lake Shore National Bank of Dunkirk Place Fort Plain Fredonia Freeport Fulton Glens Falls Herkimer Hornell Ithaca Ithaca Ithaca Kingston Lackawanna Lowville Middletown Mount Vernon Newburgh Newburgh Norwich Olean Olean Oneonta Port Jervis Poughkeepsie Poughkeepsie Poughkeepsie Rome St. Johnsville Scarsdale Schenectady Stamford Troy Troy Walton Warsaw Watertown Watervliet NEW YORK (Continued) Bank or Trust Company Fort Plain National Bank Citizens Trust Company of Fredonia, New York First National Bank and Trust Company of Freeport Citizens National Bank and Trust Company of Fulton National Bank of Glens Falls First National Bank of Herkimer Citizens National Bank and Trust Company of Hornell First National Bank of Ithaca Ithaca Trust Company Tompkins County National Bank First National Bank of Rondout Lackawanna National Bank Lewis County Trust Company Merchants National Bank of Middletown American National Bank and Trust Company of Mount Vernon Highland-Quassaick National Bank and Trust Company of Newburgh National Bank of Newburgh National Bank and Trust Company of Norwich Exchange National Bank of Olean First National Bank of Olean Wilber National Bank of Oneonta First National Bank of Port Jervis Farmers and Manufacturers National Bank of Poughkeepsie First National Bank of Poughkeepsie Merchants National Bank & Trust Company of Poughkeepsie Farmers National Bank and Trust Company of Rome First National Bank of St. Johnsville Caleb Heathcote Trust Company of Scarsdale Mohawk National Bank of Schenectady National Bank of Stamford National City Bank of Troy Union National Bank of Troy First National Bank and Trust Company of Walton Wyoming County National Bank of Warsaw Watertown National Bank National Bank of Watervliet NEW YORK CITY Manhattan Queens Bayside College Point Far Rockaway Rockaway Beach Federation Bank and Trust Company Trade Bank of New York National Bank of Bayside in New York College Point National Bank of New York National Bank of Far Rockaway Rockaway Beach National Bank of New York Nominee for Class B Director THEODORE F. WHITMARSH, OF NEW YORK, N. Y. Chairman of the Board, Francis H. Leggett & Company THEODORE F. WHITMARSH was born in Brooklyn, N. Y., in 1869. At an early age he entered the wholesale grocery business of Francis H. Leggett & Company of which his uncle, the late Francis H. Leggett, was the head. He became President of that company in 1921 and has been Chairman of the board of directors since November 1928. Mr. Whitmarsh has served two terms since January 1924, as a Class B director of the Federal Reserve Bank of New York. When he became a director he resigned as director and member of the executive committee of the Irving Bank-Columbia Trust Company and as a trustee of the Greenwich Savings Bank. He served for three years as President of the National Wholesale Grocers Association and has been a director of the United States Chamber of Commerce. During the war, he was head of the Distribution Department of the United States Food Administration. Nominated by the following member banks in Group 2 CONNECTICUT Bank or Trust Company Place South Norwalk City National Bank of South Norwalk Allentown Asbury Park Carteret East Orange Plackensack Hoboken Hoboken Jersey City Montclair Morristown Newark Newark Nutley Orange Orange Passaic Passaic Paterson Paterson Perth Amboy Plainfield Pompton Lakes Farmers National Bank of Allentown Asbury Park National Bank and Trust Company First National Bank of Carteret First National Bank of East Orange Peoples Trust and Guaranty Company First National Bank of Hoboken Jefferson Trust Company Labor National Bank of Jersey City Bank of Montclair First National Bank of Morristown Colonial Trust Company of Newark, N. J. National State Bank of Newark Bank of Nutley Orange National Bank Trust Company of Orange American National Bank of Passaic Peoples Bank and Trust Company First National Bank of Paterson Hamilton Trust Company of Paterson Perth Amboy National Bank Plainfield Trust Company First National Bank and Trust Company of Pompton Lakes Broad Street National Bank of Red Bank National Bank of North Hudson at Union City Union City National Bank Westfield Trust Company NEW JERSEY Red Bank Union City Union City Westfield NEW YORK Albion Amityville Amsterdam Auburn Binghamton Bronxville Canandaigua Cohoes Cooperstown Cortland Delhi Dunkirk Fort Plain Citizens National Bank of Albion First National Bank and Trust Company of Amityville First National Bank of Amsterdam Cayuga County National Bank of Auburn First National Bank of Binghamton Gramatan National Bank and Trust Company of Bronxville Canandaigua National Bank and Trust Company National Bank of Cohoes First National Bank of Cooperstown National Bank of Cortland Delaware National Bank of Delhi Lake Shore National Bank of Dunkirk Fort Plain National Bank NEW YORK (Continued) Place Fredonia Freeport Fulton Glens Falls Herkimer Hornell Ithaca Ithaca Ithaca Kingston Lackawanna Lowville Middletown Mount Vernon Newburgh Newburgh Norwich Olean Olean Oneonta Port Jervis Poughkeepsie Poughkeepsie Poughkeepsie Rome St. Johnsville Scarsdale Schenectady Stamford Troy Troy Walton Warsaw Wate-rtown Watervliet Bank or Trust Company Citizens Trust Company of Fredonia, New York First National Bank and Trust Company of Freeport Citizens National Bank and Trust Company of Fulton National Bank of Glens Falls First National Bank of Herkimer Citizens National Bank and Trust Company of Hornell First National Bank of Ithaca Ithaca Trust Company Tompkins County National Bank First National Bank of Rondout Lackawanna National Bank Lewis County Trust Company Merchants National Bank of Middletown American National Bank and Trust Company of Mount Vernon Highland-Quassaick National Bank and Trust Company of Newburgh National Bank of Newburgh National Bank and Trust Company of Norwich Exchange National Bank of Olean First National Bank of Olean Wilber National Bank of Oneonta First National Bank of Port Jervis Farmers and Manufacturers National Bank of Poughkeepsie First National Bank of Poughkeepsie Merchants National Bank & Trust Company ol Poughkeepsie Farmers National Bank and Trust Company of Rome First National Bank of St. Johnsville Caleb Heathcote Trust Company of Scarsdale Mohawk National Bank of Schenectady National Bank of Stamford National City Bank of Troy Union National Bank of Troy First National Bank and Trust Company of Walton Wyoming County National Bank of Warsaw Watertown National Bank National Bank of Watervliet NEW YORK CITY Manhattan Queens Bayside College Point Far Rockaway Rockaway Beach Federation Bank and Trust Company Trade Bank of New York National Bank of Bayside in New York College Point National Bank of New York National Bank of Far Rockaway Rockaway Beach National Bank of New York FEDERAL RESERVE BANK OF NEW YORK Preferential Ballot November 13,1929. Group No. 2 This ballot and the certificate on the envelope must be executed by the officer who hag been authorized to cast the vote and whose appointment and signature have been certified to me. This ballot must be returned so as to reach me within fifteen days after its receipt. The polls will open on November 15 and close at noon on December 2, 1929. Failure to observe instructions will invalidate this ballot. GATES W. MCGARRAH, Chairman of the Board. VOTE FOR CLASS A DIRECTOR (Indicate choice by X below) CANDIDATE THOMAS W. STEPHENS, Montclair, N. J. President of The Bank of Montclair. VOTE FOR CLASS B DIRECTOR CANDIDATE (Indicate choice by X below) Chairman of the Board, THEODORE F . W H I T M A B S H , N e w Y o r k , N . Y . Francis H. Leggett & Company, New York. Note—After execution, please place this ballot in colored envelope, then seal and place the sealed colored envelope in envelope bearing certificate, seal same and return it in self-addressed envelope. BALLOT DIRECTOR'S ELECTION This Envelope Should Contain Only Ballot in Sealed Colored Envelope It Will Not Be Opened Until Polls Close November , 1929. Group No. 2 To MR. GATES W. MCGAKRAH, Chairman of the Board, Federal Reserve Bank of New York. In accordance with Section 4 of the Federal Reserve Act, I hereby certify that my choices for a Class A director and a Class B director of the Federal Reserve Bank of New York are as indicated thus (X) in the columns of the ballot sealed herein. For (Name of Bank) Signature of officer designated to vote (Location of Bask) Title of Voting Officer MR. GATES W. MCGARRAH, Chairman, Board of Directors, Federal Reserve Bank of New York New York, N. Y.
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