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FEDERAL RESERVE B A N K OF N E W Y O R K DIRECTORY March 1964 SECOND FEDERAL RESERVE D I S T R I C T Head Office ♦ 33 Liberty Street Federal Reserve P. 0 . Station N ew Y ork , N. Y . 10045 212-RE 2-5700 Branch ♦ 160 Delaware Avenue Buffalo, N . Y . 14240 716-TL 4-7562 Relocation Office ♦ 420 College Avenue Ithaca, N . Y . 14850 - FEDERAL RESERVE BANK OF NEW Y O R K March 2,1964 To All Banks in the Second Federal Reserve District: This Directory shows the functional organization of the Bank, its departments, most of its divisions, and the operations they perform that are of interest to you. The Directory also shows the officers, division chiefs, and certain senior staff members of our organization. N ew ap pointments of officers and changes in their titles will be announced currently in supplements to, or revisions of, our Operating Circular No. 1, “ Authorized Signatures.” The use of this Directory will enable you to direct your communi cations to the appropriate persons and units in this Bank. W e will be pleased to furnish additional copies upon request. ALFRED H AYES, President. 1 9 1 4 FIFTIETH A NNI VERS ARY 19 6 4 CONTENTS Page Head Office Accounting and P la n n in g ..........................3 A u d it.................................................................. 3 Bank Supervision and Relations . . . . 4 Building Operating and Service . . . . 5 Cash and Collections.................................... 6 F oreign ............................................................. 8 Government Bond and Safekeeping of S e c u r itie s .............................................. 9 L eg a l.................................................................. 10 Loans and C red its.........................................10 Open Market Operations and Treasury I s s u e s .........................................11 P erso n n el........................................................ 12 Public Information.........................................12 Research and Statistics...............................12 Secretary’s O f f i c e .........................................13 Senior A d v is e r .............................................. 13 Buffalo Branch........................................................ 14 D irectors.................................................................. 16 Member of Federal Advisory Council . . . 16 Officers....................................................................... 17 I n d e x ....................................................................... 18 n ote: The lettered Regulations referred to in this Directory are Regulations of the Board of Governors of the Federal Reserve System. F E D E R A L R E S E R V E B A N K OF N E W Y O R K r A l f r e d H a y e s, President W i l l i a m F . Treiber, First Vice President ★ HEAD OFFICE Accounting and Planning H a r o ld A. B ilb y , Vice President W i ll i a m H . B r a u n , Jr., A C C O U N T I N G D E P A R T M A c c o u n tin g D iv is io n Assistant Vice President D o n a ld C . N ile s , E N T ♦ Jam es F . S u lliv a n , Manager Chief Accounts, deposits in, except foreign accounts Member bank reserve accounts Nonmember bank clearing accounts Regulation D—Reserves of member banks Remittance accounts Signature authorities Stop-payment orders Treasurer’s account, United States D is b u r s in g D iv is io n ♦ L ester E . R o w e, Chief E x p e n d itu r e s T a b u la tin g D iv is io n P L A N N I N G ♦ R aym ond F. M a g n a n i, Chief Deposits of Federal taxes D E P A R T M P la n n in g D iv is io n P u r c h a s in g D iv is io n E v e r e t t B . P o s t, E N T ♦ Louis J. C o n r o y , Manager Chief ♦ F red erick W . Forberg, Purchasing Agent Checkbooks, orders for Audit J oh n P. J en sen , A U D I T I N G D E P A R T M A u d itin g D iv is io n E N T General Auditor L eo n ard I. B e n n e tts , ♦ R o b e rt V. K e ih n e r, Assistant General Auditor Chief Information reflected on the Bank’s records furnished to those entitled thereto Reconciliation of accounts of member banks and others 3 Bank Supervision and Relations D. C r o s s e , Vice President W. P i d e r i t , J r ., Assistant Vice President L a w r e n c e E. Q u a c k e n b u s h , Assistant Vice President H ow ard F red B A N K E X A M I N A T I O N S D E P A R T M E N T J o h n P . R in g e n , Manager R e p o r ts a n d A n a ly s is D iv is io n E x a m in in g D iv is io n 4 ♦ J o h n G. K a u d e r e r , Chief Analysis of reports of examination Branches and mergers, applications for Condition reports, State member banks Criminal provisions of Federal banking laws, reports by State member banks of possible violations Earnings and dividends reports, State member banks Operating ratios reports, member banks Regulations, administration of C Acceptance by member banks of drafts or bills of exchange H Membership of State banking institutions in the Federal Reserve System I Issue and cancellation of capital stock of Federal Reserve Banks K Corporations doing foreign banking or other foreign financing under the Federal Reserve Act L Interlocking bank directorates under the Clayton Act M Foreign branches of national banks O Loans to executive officers of member banks P Holding company affiliates—voting permits Q Payment of interest on deposits R Relationships with dealers in securities under sec tion 32 of the Banking Act of 1933 S Bank service arrangements T Credit by brokers, dealers, and members of national securities exchanges U Loans by banks for the purpose of purchasing or carrying registered stocks Y Bank holding companies ♦ Under direct supervision of L a w r e n c e E. Q u a c k e n b u s h , Assistant Vice President E. H u n k e , Supervising Review Examiner ♦ Loins J . K n o e p f e l , Supervising Review Examiner ♦ J o s e p h F . T i e r n e y , Supervising Review Examiner ♦ R ic h a r d ( trust departm ents) Examination of State member banks, their affiliates, bank holding companies, and Edge Act and agreement cor porations Trust department income and expense surveys B A N K R E L A T IO N S D E P A R T M E N T E r n e st E . B lanch ette, ♦ J. R a y m o n d M u r r a y , B a n k R e la tio n s D iv is io n Manager Senior Administrative Assistant ( o f f ic e ) Special Representative Special Representative ♦ J o h n W . H y l a n d , Special Representative ♦ T h e o d o r e L. P e a s l e y , Special Representative ♦ W i l l i a m W . W a h l , Special Representative ♦ W il l ia m A . A n t t il a , ♦ A d a m R . D ic k , Liaison with District banks Membership in Federal Reserve System, inquiries on Visits to District banks T e c h n ic a l A s s is ta n c e D iv is io n ♦ C a r l H . A l l e n , Senior Technical Representative V. A u s t i n , J r ., Technical Representative ♦ W i l l i a m R. S k i n n e r , Technical Representative Member bank operations surveys Credit file installation and loan operation Functional analyses of income and expense Internal audit and control Teller, transit, and bookkeeping ♦ C h arles Building Operating and Service Vice President L. S m e d l e y , Assistant Vice President W a l t e r H . R o z e l l , J r ., F r e d e r ic k B U I L D I N G O P E R A T I N G D E P A R T M E N T A . T h o m a s C om b ad er, Manager B u ild in g M a in te n a n c e D iv is io n B u ild in g S e r v ic e D iv is io n P o w e r P la n t D iv is io n S E R V I C E D E P A R T M P o s t O ffic e D iv is io n P r o te c tio n D iv is io n T e le p h o n e S e c tio n ♦ C h a r le s A . G e la r d i, C h ief ♦ A n t h o n y C . S g a m b a t , Chief ♦ M a t t h e w C . D r e x l e r , Chief Engineer E N T A r t h u r H . N o a , Manager ♦ J o s e p h L. T u m i n e l l i , Chief Mail, incoming and outgoing ♦ B e r n a r d J . S t a m m , Chief ♦ M r s . M i l d r e d M . C a r e w , Chief Operator Cash and Collections M a r c u s A . H a r r is , Vice President Assistant Vice President A n g u s A . M a c I n n e s , J r ., (Check Department) H arold M . W e sse l, Assistant Vice President (Cash, Cash Custody, and Collection Departments) C A S H D E P A R T M K en n eth E N T C o in D iv is io n ♦ C h a r le s F . B e is le r , E. S m a l l , Manager Chief Armored car routes for currency and coin shipments Counting and verifying of coin Payment and receipt of coin Redemption of uncurrent United States currency and coin Segregation of unfit, foreign, and counterfeit coin P a y in g D iv is io n ♦ W illia m J. F itz g e r a ld , Chief Certification of checks drawn on this Bank Payment of currency S o r tin g a n d C o u n tin g D iv is io n C A S H C H E C K C U S T O D Y D E P A R T M ♦ J o s e p h L. A n d e r s o n , Chief Postal deposits Receipt of currency Reports of unusual currency transactions on Form TCR-1 Sorting of currency for fitness, kind, and genuineness Verification by piece count of all deposits of currency D E P A R T M E N T E N T M a r tin F re n c h , Manager G e o r g e C . S m ith , Manager A l o y s i u s J . S t a n t o n , Manager C h e c k D iv is io n ♦ W illia m J. I r w in , Chief ( d a y ) Chief ( n i g h t ) ♦ E d w a r d J . M c G u ir e , Checks and other cash items collectible through New York Clearing House Association, Northern New Jersey Clearing House Association, and Manhattan, Bronx and Brooklyn collection arrangement Collection of checks and other cash items (except Govern ment checks and postal money orders) payable in any Federal Reserve District Development of this Bank’s mechanization of check-proc essing operations Liaison with banks, bankers, and others in promoting cooperation on check-mechanization matters, such as check redesign, preprinting, and encoding Regulation J—Check clearing and collection Settlement of balances due to and due from participants in Bergen County Clearing Bureau and Nassau County Clearing Bureau 6 R e tu rn Item s a n d A d ju s t m e n t D iv is io n C O L L E C T I O N ♦ J o s e p h C . A u c h t e r , Chief Adjustments resulting from presentment and collection of checks Check Routing Symbol Program City and county clearing arrangements, exchanges be tween participants in Direct routing of checks and other cash items to Federal Reserve Banks and Branches by member and non member clearing banks through the Consolidated Air Transportation Program or other methods Remittances for Second District cash letters Return items D E P A R T M C o lle c t io n D iv is io n C o u p o n D iv is io n E N T K arl L. E g e , Manager ♦ G e r a l d J . C o n n o l l y , Chief Collection of notes, drafts, and other noncash items pay able in any Federal Reserve District Payment of drafts drawn under letters of commitment is sued by Commodity Credit Corporation Receipt, for immediate credit, of checks on member banks’ reserve accounts Reclamation of United States Government checks Regulation G—Collection of noncash items ♦ A l f r e d H. K i r k p a t r i c k , Chief Collection of bonds and coupons payable in any Federal Reserve District Payment of coupons on bonds of United States, its agen cies or instrumentalities, of Inter-American Develop ment Bank, and of International Bank for Reconstruc tion and Development Regulation G—Collection of noncash items G ov ern m en t C h eck D iv is io n W ir e T r a n s fe r D iv is io n ♦ G e r a l d J . C o n n o l l y , Chief Collection of Government checks and postal money orders ♦ J a m e s H. B o o t h , Chief Mail and telegraphic transfers of funds Officers checks Issuance of Federal Reserve checks in payment of gold purchased from Assay Office by gold dealers Settlements of balances due to and due from participants in city clearing arrangements of banks outside New York City 7 COLLECTION DEPARTMENT— Wire Transfer Division (continued) Telegrams Coding, decoding, and authenticating by testword of, involving payments of funds, shipments of currency, coin, and securities, or deliveries of securities for safe keeping Receipt and transmittal of Testwords for, furnishing of Foreign C h arles A. C o o m b s , Vice President Vice President H orace L . S a n fo r d , P eter F o u s e k , Assistant Vice President P e t e r P . L a n g , Adviser T homas F O R E I G N D E P A R T M J. R oche, Senior Foreign Exchange Officer B r u c e K . M a c L a u r y , Manager E N T E d w in S . R o t h m a n , C a b le D iv is io n Manager ♦ G. C a r r o l l M a r t e n s o n , Chief Cablegrams, radiograms, telegrams, and telex messages relating to foreign business: sending, receiving, coding, decoding, testing, and otherwise processing F o r e ig n A s s e t s C o n t r o l D iv is io n ♦ R o b e r t R . T o m p k in s , Chief Cuban Assets Control Regulations of Treasury, licenses under Foreign Assets Control Regulations of Treasury, licenses under F o r e ig n O p e r a tio n s D iv is io n 8 ♦ F r e d A. M o r i s s e , Chief Foreign central banks, foreign governments, and inter national financial organizations, dollar, gold, and se curity custody accounts of Foreign exchange Rates, certification of, under Tariff Act of 1930 Transactions on behalf of Federal Reserve System, United States Treasury, and foreign depositors Gold Reserve Act of 1934 Applications, licenses, inquiries, purchases, and sales thereunder, as fiscal agent United States Stabilization Fund, transactions for account of, as fiscal agent Government Bond and Safekeeping of Securities Vice President Assistant Vice President H a r o ld A. B ilb y , F e l i x T. D a v is, G O V E R N M E N T B O N D A N D S A F E K E E P IN G D E P A R T M E N T R o b e rt C. Thom an , Manager Government Bond Division ♦ Joh n J. M a s te r s o n , Chief Bonds of Inter-American Development Bank Issuance, registration, exchange, and redemption Bonds of International Bank for Reconstruction and De velopment Issuance, registration, exchange, and redemption Securities of the Philippine Government, the Puerto Rican Government, and agencies of the United States Government Issuance, registration, exchange, and redemption Treasury Tax and Loan Accounts Calls on Qualification of depositaries Record of accounts Record of collateral United States securities (other than savings bonds) Denominational exchange Exchanges of bearer for registered securities Exchanges of registered for bearer securities Exchange subscriptions Forms for subscriptions, exchanges, transfers, etc. Lost, stolen, destroyed, or mutilated securities Payment or redemption Receipt of delivery instructions and of payment regard ing cash subscriptions Telegraphic transfer of bearer securities from New York to other Federal Reserve Banks and Treasury Department Transfer of registered securities Safekeeping Division ♦ M a t t h e w J. H o e y , Chief Delivery of bearer securities of the United States pursu ant to telegraphic transfer from other Federal Reserve Banks and Treasury Department Delivery of securities of the United States (except savings bonds) and its agencies, and of the Inter-American De velopment Bank and International Bank for Reconstruc tion and Development, on original issue or exchange Receipt and delivery of securities purchased or sold for account of member banks or others Safekeeping and servicing of securities for account of member banks and others 9 S A V IN G S B O N D D E P A R T M E N T S a v in g s B o n d D iv is io n W a lte r S. R u s h m o r e , Manager ♦ R o n a ld B . G r a y , C h ief Accounts of issuing and paying agents Consignment of unissued Series E bonds Lost, stolen, destroyed, or mutilated savings bonds Redemption of savings bonds, Armed Forces Leave Bonds, and Retirement Plan Bonds Reissues and corrections Sales of Series E and H bonds and Retirement Plan Bonds S E C U R I T Y C U S T O D Y D E P A R T M G e r a ld E N T E. B e a c h , Manager Legal Vice President and General Counsel Assistant General Counsel T h o m a s C . S l o a n e , Assistant General Counsel R o b e r t J . C r o w l e y , Assistant Counsel R ic h a r d A. D e b s , Assistant Counsel J a m e s H . O l t m a n , Assistant Counsel T h o m a s M. T i m l e n , J r ., Assistant Counsel R o b e r t Y o u n g , J r ., Assistant Counsel J ohn J. C lar k e , Edw ard G . G u y , Loans and Credits H arold A. B i l b y , Vice President W i l l i a m H . B r a u n , J r ., C R E D I T A N D D I S C O U C r e d it D iv is io n 10 N T D E P A R T M Assistant Vice President E N T W i l l i a m E . M a r p l e , Manager ♦ H e r s c h e l L. H o r n e r , Chief Commercial Credit File and relative forms, distribution of Credit data, collection and analysis of Farm Credit File and relative forms, distribution of Financial statement forms, distribution of Regulation A —Advances and discounts by Federal Re serve Banks Acceptability of paper offered for discount or as col lateral for advances, determination of Regulation V —Loan guarantees for defense production Processing of applications and issuing guarantees in be half of the guarantors Servicing of guaranteed loans Treasury Tax and Loan Accounts Acceptability of paper offered as collateral for D is c o u n t D iv is io n ♦ H e n r y T. C h r i s t e n s e n , Chief Regulation A —Advances and discounts by Federal Re serve Banks Eligibility of paper offered for discount or as collateral for advances, determination of Processing of applications Servicing of advances and discounts Regulation V —Loan guarantees for defense production Billing and collection of guarantee fees Records of guarantees issued Treasury Tax and Loan Accounts, paper collateral for Custody and negotiability of Processing applications for submission of Open Market Operations and Treasury Issues R obert W . S t o n e , Vice President S p e n c e r S . M a r s h , J r ., P eter A C C E P T A N C E D E P A R T M A c c e p ta n c e D iv is io n S E C U R I T I E S R o b e r t L . C o o p e r , Manager E N T ♦ J a m e s T. G e r a g h t y , Chief Acceptance by member banks of drafts or bills of ex change, inquiries regarding Bankers’ acceptances, open market purchases and sales of Bills of exchange and trade acceptances, open market pur chases of Monthly Bankers’ Acceptance Survey Regulations B Open market purchases of bills of exchange, trade ac ceptances and bankers’ acceptances under section 14 of the Federal Reserve Act C Acceptance by member banks of drafts or bills of ex change D E P A R T M S e c u r itie s D iv is io n Assistant Vice President D. S t e r n l i g h t , Assistant Vice President P a u l M eek, E N T ♦ R ic h a r d V o llk o m m e r , Manager Chief Dividends on Federal Reserve Bank stock Federal Open Market Committee, Regulation relating to open market operations of Federal Reserve Banks Government securities (other than savings bonds), cash subscriptions and tenders to new issues of Government securities, purchases and sales for account of member banks and others Open market operations in Government securities Regulation E—Purchase of warrants 11 Personnel W a lte r R o z e ll, H . F r e d e r ic k P E R S O N N E L D E P A R T M L . J r ., Vice President S m e d l e y , Assistant V ice President C h a r l e s R . P r i c h e r , Manager E N T W i l l i a m M . S c h u l t z , Manager M e d ic a l D iv is io n ♦ D r. H erm an G . S a n d v o s s , Medical Director P e r s o n n e l R e la tio n s D iv is io n ♦ F r a n c is H . R o h r b a c h , Chief E m p lo y e e a s s ig n m e n t, r a tin g , a n d c o u n s e lin g E m p lo y m e n t P e r s o n n e l S e r v ic e s D iv is io n ♦ R u t h A n n T y l e r , Chief E m p lo y e e b e n e fits a n d s e r v ic e s P a y r o ll co n tr o l P e rso n n e l re co rd s S a la r y A n a ly s is D iv is io n ♦ J o h n H . H e l f , Chief J o b a n a ly s is a n d jo b e v a lu a tio n S a la r y s u r v e y s a n d s a la r y r e s e a r c h T r a in in g a n d D e v e lo p m e n t ♦ Under direct supervision of Managers Public Information T hom as P U B L I C I N F O R M A T I O N O . W a a g e , V ice President D E P A R T M M a r t i n W . B e r g i n , Manager E N T P u b lic I n fo r m a t io n D iv is io n ♦ R aym ond G . B r o w n , Acting Chief D is s e m in a t io n B a n k , o f in fo r m a t io n o p e r a tio n s cu rre n t o f th e d e v e lo p m e n ts in a b o u t a c t iv it ie s F e d e ra l R e s e rv e fie ld s o f m o n e y F e d e r a l R e s e r v e p u b lic a t io n s F ilm s o n th e F e d e r a l R e s e r v e S y s te m G u id e d to u r s o f th e B a n k P r e s s a n d p u b lic r e la tio n s W ee k ly N ew s R eview Research and Statistics A l a n R . H o lm e s , V ic e President G e o r g e G a r v y , Economic A dviser R o b e r t G . L i n k , Adviser F r a n k W . S c h i f f , Assistant Vice President 12 o f S y stem , a n d th is a n d b a n k in g M A R K E T S T A T I S T I C S M a r k e t S ta tis tic s D iv is io n ♦ D E P A R T M E N T M a d e lin e H .M c W h in n e y , Manager Chief I r v in g A u e r b a c h , Collection and analysis of data on the U.S. Government securities market and the money market R E S E A R C H D E P A R T M Manager Senior Economist H. S c h o t t , Manager F re d H . K lo p s to c k , E N T R obert L in d s a y , _ . , _ F r a n c is Balance or Payments D iv is io n ♦ E d n a E. E h r lic h , Chief Collection and analysis of data on United States balance of payments and foreign dollar assets Collection of data and preparation of reports for the United States Treasury D o m e s t ic R e s e a r c h D iv is io n ♦ G. D a v i s , Chief Analysis of business and financial conditions Studies relating to monetary and credit policy R ic h a r d F in a n c ia l a n d T r a d e S ta tis tic s D iv is io n ♦ L e o n a r d L a p id u s , Chief Tabulation and analyses of banking statistics Tabulation of other current reporting series F o r e ig n R e s e a r c h D iv is io n ♦ J o h n H e in , Chief Analysis of monetary and economic conditions in foreign countries and of international financial developments R e fe r e n c e L ib r a r y ♦ J a n et B ogardu s, Chief Librarian Acquisition, processing, and circulation of library mate rials in fields of banking, economics, and finance Daily Newspaper Review Reference services Secretary's Office T homas R obert C ir c u la r s D iv is io n ♦ M. T i m l e n , J r ., Secretary C. T h o m a n , Assistant Secretary J o seph W is n o v s k y , Chief Bank circulars Regulations and Published Interpretations of the Board of Governors of the Federal Reserve System, distribu tion and servicing of Senior Adviser R obert G. R ou se, Vice President and Senior Adviser 13 BUFFALO BRANCH V ice P resid en t A ssista n t V ice P resid en t and C ashier I n s l e y B . S m ith , G e o r g e J. D o l l , Accounting, Bank Relations and Public Information, and Check J o h n T. K e a n e , A c c o u n tin g D iv is io n A ssista n t C ashier ♦ K e n n e th P. M ea d , Chief C h eck b oo k s, ord ers fo r C o lle c tio n o f G o v e r n m e n t c h e c k s a n d p o s ta l m o n e y o r d e r s E x p e n d it u r e s M e m b e r b a n k r e s e r v e a c c o u n ts N o n m e m b e r b a n k c le a r in g a c c o u n ts R e g u la t io n D —R e s e r v e s o f m e m b e r b a n k s R e m itt a n c e a c c o u n ts S ig n a tu r e a u th o r itie s S to p -p a y m e n t o r d e r s T a b u la tin g o p e r a tio n s T e le g r a p h ic a n d m a il tr a n s fe r s o f fu n d s T e le t y p e s e r v ic e B a n k R e la tio n s a n d P u b lic I n fo r m a t io n ♦ H a r r y A . C u r t h , J r ., S pecial R e p resen ta tiv e B a n k r e la tio n s a n d p u b lic in fo r m a tio n a c tiv itie s V is ito r s a t B u ffa lo B r a n c h V is it s to b a n k s C h e c k D iv is io n ♦ F r e d e r ic k W . M o r t e n s o n , C hief C h e c k tr a n s p o r ta tio n r o u te s C o lle c tio n o f c h e c k s p a y a b le in S e c o n d F e d e r a l R e s e r v e D is t r ic t a n d o th e r F e d e r a l R e s e r v e D is t r ic ts M a il, in c o m in g a n d o u tg o in g R e g u la t io n J —C h e c k c le a r in g a n d c o lle c tio n R e tu r n ite m s a n d a d ju s tm e n t s Audit B r a n c h A u d itin g ♦ J o h n W . C o u g h lin , Branch A u d ito r I n fo r m a tio n r e fle c te d o n th e B u ffa lo B r a n c h ’s r e c o r d s fu r n is h e d to th o s e e n title d th e r e to R e c o n c ilia tio n o f a c c o u n ts o f m e m b e r b a n k s a n d o th e r s 14 Building Operating, Cash, Protection, and Service G e r a ld H . G re e n e , A ssista n t C ashier B u ild in g O p e r a t in g D iv is io n C a s h D iv is io n B uilding S u p erin ten d en t C hief ♦ G eo rg e R. B oss, ♦ H a r r is o n E. M a r tin , A r m o r e d ca r r o u te s R e c e ip t a n d p a y m e n t o f c u r r e n c y a n d co in S o r tin g a n d c o u n tin g o f c u r r e n c y a n d co in P r o te c tio n D iv is io n S e r v ic e D iv is io n C aptain C hief ♦ R a lp h C. R o b e r ts , ♦ A l l a n C. H in e s, C a fe te r ia P u r c h a s in g T e le p h o n e s e r v ic e Collection, Loans, Securities, and Personnel G e o r g e J. D o l l , A ssista n t V ice P resid en t and C ashier C o lle c tio n , L o a n s , a n d S e c u r itie s D iv is io n ♦ F ra n k H en d erson , Chief C o lle c tio n C o lle c tio n o f c o rp o r a te b o n d s a n d c o u p o n s C o lle c tio n o f n o te s , d ra fts, a n d o th e r n o n c a s h ite m s R e c la m a tio n o f U n it e d S ta te s G o v e r n m e n t c h e c k s R e g u la t io n G —C o lle c tio n o f n o n c a s h ite m s C r e d it a n d D is c o u n t A d v a n c e s to a n d d is c o u n ts fo r m e m b e r b a n k s F in a n c ia l s ta te m e n t fo r m s , F a r m C r e d it F ile a n d C o m m e r c ia l C r e d it F ile R e g u la t io n A —A d v a n c e s a n d d is c o u n ts b y F e d e r a l R e se rv e B a n k s S e c u r itie s P a y m e n t o f c o u p o n s o f th e U n it e d S ta te s G o v e r n m e n t a n d its a g e n c ie s P a y m e n t o r r e d e m p tio n o f s e c u r itie s o f th e U n it e d S ta te s G o v e r n m e n t a n d its a g e n c ie s S a fe k e e p in g o f s e c u ritie s f o r a c c o u n t o f m e m b e r b a n k s S a le s o f S e r ie s E a n d H sa v in g s b o n d s P e rs o n n e l D iv is io n ♦ A r th u r A . R a n d a ll, C hief E m p lo y e e b e n e fits E m p lo y e e r a tin g a n d c o u n se lin g E m p lo y m e n t J o b a n a ly s is a n d e v a lu a tio n M e d ic a l s e r v ic e s P a y r o ll d a ta P erson n el record s S a la r y s u r v e y s 15 D I R E C T O R S Term expires Decem ber 31 P hilip D. Reed, Chairman, and Federal Reserve Agent................................................................... 1965 (Class C director—appointed by Board of Governors) Former Chairman of the Board, General Electric Company, New York, N. Y. J am es DeCamp Wise, Deputy Chairman ............................................................................................... (Class C director—appointed by Board of Governors) Former Chairman of the Board, Bigelow-Sanford, Inc., New York, N. Y. 1964 N. C a s e (Class C Director—appointed by Board of Governors) ....................................... President, Alfred P. Sloan Foundation, New York, N. Y. 1966 E verett George Champion (Class A director—elected by Group 1 banks) .................................................... 1964 Chairman of the Board, The Chase Manhattan Bank, New York, N. Y. Robert H. Fearon (Class A director—elected by Group 3 banks).................................................... 1966 President, The Oneida Valley National Bank of Oneida, Oneida, N. Y. (Class B director—elected by Group 2 banks) ............................................... Executive Vice President, Union Carbide Corporation, New York, N. Y. K enneth H . H annan 1965 A lbert L. Nickerson (Class B director—elected by Group 3 banks).............................................. 1966 Chairman of the Board, Socony Mobil Oil Company, Inc., New York, N. Y. B . E a r l P u c k e t t (Class B director—elected by Group 1 banks) ..................................................... Former Chairman of the Board, Allied Stores Corporation, New York, N. Y. 1964 Ralph H . Rue (Class A director—elected by Group 2 banks) ........................................................... Chairman of the Board, The Schenectady Trust Company, Schenectady, N. Y. 1965 D I R E C T O R S — B U F F A L O B R A N C H Chairman ......................................................................................................... President, Ferguson Electric Construction Co., Inc., Buffalo, N. Y. W h it w o r t h F erg u so n , 1964 M a u r i c e R . F o r m a n ............................................................................................................................................................................... 1 9 6 5 President, B. Forman Company, Rochester, N. Y. A r th u r S . H a m l in ................................................................................................................................................................................. 1965 President, The Canandaigua National Bank and Trust Company, Canandaigua, N. Y. T h o m a s E . L a M o n t ................................................................................................................................................................................. 1966 Farmer, Albion, Orleans County, N. Y. C h a r l e s W . M i l l a r d , J r ....................................................................................................................................................................... 1966 Chairman of the Board and President, Manufacturers and Traders Trust Company, Buffalo, N. Y. E l m e r B . M i l l i m a n ............................................................................................................................................................................... 1 9 6 4 President, Central Trust Company Rochester N. Y., Rochester, N. Y. A nson F. S herman .................................................................................................................................. 1964 President, The Citizens Central Bank, Arcade, N. Y. M E M B E R O F F E D E R A L A D V I S O R Y C O U N C I L — 1 9 6 4 W illiam H. M oore .................................................................................................................................. 1964 Chairman of the Board, Bankers Trust Company, New York, N. Y. 16 OFFICERS Alfred HayeS( preSident First Vice President Vice President A l a n R . H o l m e s , Vice President R o b e r t G . R o u s e , Vice President and Senior Adviser W a l t e r H . R o z e l l , J r ., Vice President H o r a c e L . S a n f o r d , Vice President R o b e r t W . S t o n e , Vice President a a g e , Vice President W illia m P . T r e ib e r , Vice President J o h n J . C l a r k e , Vice President and General Counsel C h a r l e s A . C o o m b s , Vice President H o w a r d D . C r o s s e , Vice President G e o r g e G a r v y , Economic Adviser H a r o ld A . B ilb y , M a r c u s A . H a r ris , T hom as O . W E d w a r d G . G x jy , Assistant General Counsel T ho m as C . S loane, A n g u s A . M acI n n e s , J r . W il l ia m H . B r a u n , J r . Assistant Vice President Assistant General Counsel F r a n k W . S c h if f Assistant Vice President Assistant Vice President S pencer S . M arsh , J r . F e l i x T . D a v is Assistant Vice President Assistant Vice President F r e d e r ic k L . S m e d l e y Assistant Vice President F red W . P id e r it , J r . P eter P o u se k Assistant Vice President Assistant Vice President P e ter D . S t e r n l ig h t L aw ren ce E. Q u acken bu sh P eter P . L ang Assistant Vice President Assistant Vice President Adviser T hom as J. R oche R obert G . L in k Adviser Manager Security Custody Department M a r t i n W . B e r g i n , Manager Public Information Department E r n e s t E . B l a n c h e t t e , Manager Bank Relations Department A . T h o m a s C o m b a d e r , Manager Building Operating Department R o b e r t L . C o o p e r , Manager Acceptance Department G erald E . B e a c h , R obert J. C r o w l e y Assistant Counsel Senior Foreign Exchange Officer H a ro ld M . W e sse l Manager Foreign Department E d w in S . R o t h m a n , Manager Credit and Discount Department W Assistant Vice President B ruce K . M acL a u r y , W il l ia m E . M a r p le , M a d e l in e H. M c W Manager Research Department F r a n c is H . S c h o t t , h in n e y Manager Market Statistics Department Manager Securities Department P aul M e e k , Manager Cash Department G e o r g e C . S m i t h , Manager Check Department Manager Accounting Department D on a ld C . N il e s , H. N o a , Manager Service Department Assistant Counsel K a r l L . E g e , Manager Collection Department M a r t i n F r e n c h , Manager Cash Custody Department F r e d H . K l o p s t o c k , Manager Research Department E verett B . P o st , R ob e rt L in d s a y J o h n P . R in g e n , A l o y s iu s J . S t a n t o n , Check Department Manager Manager Government Bond and Safekeeping Department, and Assistant Secretary J am es H . O ltm an R obert C . T h o m a n , Assistant Counsel Manager Planning Department T h o m a s M . T im l e n , J r . Manager Personnel Department C h a r l e s R . P r ic h e r , Secretary, and Assistant Counsel Manager, Bank, Examinations Department Senior Economist Manager Personnel Department W il l ia m M . S c h u l t z , K enn eth E. S m a ll, A rth ur R ic h a r d A . D e b s Manager Foreign Department a l t e r S . R u s h m o r e , Manager Savings Bond Department R obert Y o u n g , J r . Assistant Counsel General Auditor Assistant General Auditor J oh n P . J ensen, L eonard I . B e n n e tt s, O F F I C E R S • B U F F A L O B R A N C H Vice President Assistant Vice President and Cashier I n sl e y B . S m it h , G eorge J . D o l l , G erald H . G r e e n e , Assistant Cashier J o h n T . K eane, Assistant Cashier 17 Index Page Page B u ffa lo B ra n ch Check R outing S ym b ol P r o g r a m ......... Operations perform ed b y ........................ 1 4,15 Checks 7 A d ju stm en ts ............................................... 7 H e a d O ffic e D raw n on m em ber banks’ reserve A cceptances, open m arket transactions in ..................................................................... accounts, receipt of, for im m ediate 11 credit ................................................................ 7 D raw n on this B ank, certification of A ccou n ts Deposits i n ................................................... ........ 3 F oreign and international ............... ........8 6 G overnm ent, collection o f .........7 M echanization ........ 6 Officers, issuance of F ederal Reserve, M em b er bank r e s e r v e ...................................3 N onm em ber bank clearing 3 Reconciliation of m em ber banks’ and others’ ....................................................... R em ittance 3 ................................................. 3 A d ju stm en t of check presentm ents .. . 7 in paym ent of gold purchased from A ssa y Office b y gold d e a l e r s ......... 7 Return item s ............................................ 7 U nited States G overnm ent, reclam a tion o f ........................................................ 7 Circulars, Federal R eserve B ank . . . . 13 C learing arrangem ents ............................. 7 A d van ces to m em ber b a n k s .................... 10,1 1 Coin 6 A rm e d Forces L eave B o n d s .................... C om m odity Credit Corporation, pay 10 m ent of drafts drawn under letters B ergen C oun ty C learing Bureau, set tlem ents ........................................................ ................................................................... of com m itm ent issued b y .................... 7 6 Coupons payable in any F ederal R e B ills of exchange serve District, collection o f ................ A cceptance b y m em ber banks of, in quiries regarding ............................... O pen m arket purchases o f .................. 11 11 United States, its agencies or in strum entalities, of In ter-A m erican D evelop m ent B ank, and o f Interna tional B ank fo r Reconstruction and B onds payable in any Federal R eserve District, collection o f ............................. 7 Branches, applications f o r ...................... 4 B uilding (B a n k ), operation o f ............. 5 D evelop m ent ............................................. 7 Credit data, collection and analysis o f. 10 Credit file form s .......................................... 10 Credit file in s ta lla tio n s ............................. 5 Cuban A ssets Control reg u la tio n s. . . . 8 C urrency .......................................................... 6 C a b le g ra m s, ra d io g ra m s, te leg ra m s, and telex m essages relating to for eign tr a n s a c tio n s ...................................... 8 Discounts for m em ber b a n k s ................1 0 ,1 1 Cash letters, rem ittances for Second D istrict .......................................................... C heckbooks ................................................... C heck clearing and c o lle c t io n ............... D irect routing 18 .......................................... 7 C o u p o n s , p a y m e n t o f, o n b o n d s o f 7 3 6 7 Drafts, acceptance b y m em ber banks, inquiries on ............................................... 11 E xam ination o f State m em ber banks, their affiliates, and certain other banking in s titu tio n s ............................... 4 Page Page Expenditures ................................................. 3 Farm Credit F i l e .......................................... 10 Federal banking law s (crim in al), re porting possible violations o f ........... 4 4 Dividends on ............................................ 11 F ilm s on Federal R eserve System . Financial statem ent f o r m s ...................... D a ily ............................................................ 13 ....................................................... 12 Noncash items, collection o f .................. 7 W e e k ly Federal R eserve B ank s t o c k .................. Federal R eserve S ystem m em bersh ip . New spaper R eview 5 12 10 Notes, drafts, and other noncash items, collection of .............................................. 7 Open m arket o p e r a tio n s .......................... 11 Personnel m atters ...................................... 12 9 Foreign accounts ........................................ 8 Philippine Governm ent securities . . . . Foreign Assets Control R e g u la tio n s.. 8 Planning, internal ...................................... 3 Foreign e x c h a n g e ........................................ 8 Postal d e p o s it s ............................................... 6 G old Reserve A c t o f 1934 ........................ 8 Press r e la t io n s .............................................. 12 G overnm ent securities Protection D ivision ................................... 5 A gencies of U nited S t a t e s .................. 9 Publications, Federal R e s e r v e ............. 12 Philippine 12 ................................................... 9 Public r e la t io n s ............................................ Puerto Rican ............................................ 9 Published United States ............................................ 9 Information about this B ank and Federal Reserve S y s t e m ...................... 12 Inform ation reflected on B a n k ’s rec ords, furnishing o f ................................. 3 13 9 Purchase of supplies ................................. 3 Regulation A dvances and discounts b y F ed eral Reserve Banks ....................10,11 bo n d s, issu a n ce , re g istra tio n , e x change, redem ption, d e l i v e r y distribu Puerto Rican Governm ent securities. A In te r -A m e r ic a n D e v e lo p m e n t B a n k Interpretations, tion and servicing o f ............................. 9 B Open m arket purchases of bills International B ank for Reconstruction of exchange, trade acceptances and D evelopm ent bonds, issuance, and bankers’ acceptances un registration, exchange, redem ption, delivery ....................................................... R eserve A c t ................................... der section 14 of the Federal 9 C International financial organizations, 11 A cceptance b y m em ber banks of drafts or bills of exchange . . . . 4 ,1 1 accounts of ................................................. 8 D R eserves of m em ber b a n k s ........... 3 L egal m a t t e r s ................................................. 10 E Purchase of w arrants .................... 11 Liaison w ith District b a n k s .................... 5 G Collection of noncash i t e m s ......... 7 dollar, gold, and security custody L ibrary ............................................................ 13 H M em bership of State banking in L oan guarantees for defense produc tion stitutions in the Federal R e ................................................................ 10,1 1 serve System ................................. M ail, incoming and o u t g o in g .................. 5 M em ber bank operations su rveys . . . 5 M em bership in Federal R eserve S ys tem I Issue and cancellation o f capital stock of Federal R eserve B anks J Check clearing and collection . . . K Corporations doing foreign bank ................................................................ 5 M ergers, applications f o r ........................ 4 ing or other foreign financing M oney orders, postal, collection of . . 7 u nder the Federal R eserve A c t N assau C ounty Clearing Bureau, set tlem ents ....................................................... L 6 4 4 6 4 In te rlo c k in g b a n k d ire ctora te s u nder the C layton A c t ................ 4 19 Page Page M F o r e ig n b r a n c h e s o f n a tio n a l banks O Loans to ................................................. executive officers 4 of m em ber b a n k s ............................... Return of unpaid c h e c k s ......................... 7 S afekeeping of securities ......................... 9 S avings bonds ............................................... 10 4 Securities dealers, collection o f data ing permits ...................................... 4 Securities, delivery and receipt of . . . Q P aym ent of interest on deposits . 4 Settlem ents am ong participants in city R Relationships w ith dealers in se P from H olding com pany affiliates—vot S B ank service a r r a n g e m e n ts......... T Credit b y brokers, dealers, and U ........................................ 4 4 4 Loans b y banks for the purpose of purchasing or carrying reg istered stocks ................................. V 4 Loan guarantees for defense pro B ank holding companies ............. 4 Regulations, distribution and servic ing of ............................................................ Signature authorities 7 ............................... 3 .......................................................... 13 S top-paym ent o r d e r s .................................. 3 Statistics Surveys, m em ber bank operations . . . 5 Taxes, Federal, deposits o f ...................... 3 Telegram s, sending and receiving . . . 8 Telephone Section ...................................... 5 Tours of Federal R eserve B a n k ........... 12 Trade acceptances, open m ark et p u r duction .............................................. 10,11 Y 9 clearing arrangem ents o f banks ou t m em bers of national securities exchanges 13 side N e w Y o rk C i t y ............................... curities under section 32 of the Banking A c t of 1933 .............................................................. 13 Reports chases of ........... .......................................... 11 Transfers of funds ...................................... 7 Treasurer’s account, U nited States . . . 3 Treasury T a x and Loan A ccou nts . . . . 9 Paper collateral for ............................... 10,11 Condition, and earnings and divi dends, of State m em ber banks . . . . 4 Exam ination, analysis of .................... 4 Operating ratios ...................................... 4 U nusual currency transactions Trust departm ent s u r v e y s ...................... 4 U nited States s e c u r i t ie s ........................... 9 ,1 0 Cash subscriptions and tenders . . . . 11 Purchases and sales for account of 6 m em ber b a n k s ...................................... .......................................................... 12 United States Stabilization F un d . . . . 8 Reserves of m em ber b a n k s .................... 3 Visits to District b a n k s ............................. 5 Retirem ent Plan Bonds ........................... 10 W arrants, purchase o f ............................... 11 R esearch 20 11
@FedFRASER