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a A r/i t 4 FEDERAL RESERVE BANK OF NEW YORK DIRECTORY March 1962 SECOND FEDER AL RESERVE D IS T R IC T Head Office ♦33 Liberty Street Federal Reserve P. O. Station New York 45, N. Y . 212-RE 2-5700 Branch ♦160 Delaware Avenue Buffalo 5, N. Y . 7 1 6 -T L 4-7562 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 March 15,1962 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 principal operations they perform. The Directory also shows the officers, division chiefs, and certain senior staff members of our organization. New appointments 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 proper officers of this Bank and to the departments and divisions under their supervision. We will be pleased to furnish additional copies upon request. ALFRED HAYES, President. CONTENTS Pa ge 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 C ollection s................................. 6 F o r e ig n ......................................................... 8 Government Bond and Safekeeping of S e c u r it ie s ........................................... 9 L e g a l.............................................................. 10 Loan and C r e d i t s ...................................... 10 Open Market Operations and Treasury I s s u e s ...................................... 11 P e r s o n n e l.....................................................12 Public Inform ation...................................... 12 Research and S ta tistics.............................13 Secretary’s O f f i c e ...................................... 13 Buffalo B ran ch .....................................................14 D ir e c to r s .............................................................. 16 Member of Federal Advisory Council . . . 16 O f f i c e r s .............................................................. 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. FEDERAL RESERVE B A N K A l f r e d H a y e s, OF N EW Y O R K President First Vice President W i l l i a m F . T reiber, ★ HEAD OFFICE Accounting and Planning Vice President Assistant Vice President H e rb e rt H . K im b a ll, N orm an P . D a v is, A C C O U N T IN G DEPARTMENT D o n a ld C. N ile s , Manager Accounting Division ♦Jam es F . S u lli v a n , 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 Disbursing Division ♦ L e s t e r E. R o w e , Chief Expenditures Tabulating Division ♦ R aym on d F. M a g n a n i, Chief Deposits of Federal taxes P LA N N IN G DEPARTMENT Emergency Planning Division E v e r e tt B. P o s t, Manager Planning Division ♦ Louis J. C o n r o y , Chief Purchasing Division ♦ F red erick W . F orberg, Purchasing Agent Checkbooks, orders for Audit D o n a ld J. C am eron , AU D ITIN G DEPARTMENT General Auditor K a r l L . Ege, Assistant General Auditor Auditing Division ♦ R o b e rt V . K e ih n e r, 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 sse , Vice President W. P id e rit, Jr., Assistant Vice President H ow ard Fred BANK EX A M IN A TIO N S DEPARTMENT J oh n F. P ierce, Chief Examiner J oh n P . R in gen , Manager Reports and Analysis Division ♦ J oh n G. K a u d erer, 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 F Trust powers of national banks H Membership of State banking institutions in the Federal Reserve System I Increase or decrease of capital stock of Federal Re serve Banks and cancelation of old and issue of new stock certificates K Corporations doing foreign banking or other foreign financing under the Federal Reserve A ct L Interlocking bank directorates under the Clayton Act M Foreign branches of national banks and of corpora tions organized under the provisions of section 25 (a) of the Federal Reserve Act 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 A ct of 1933 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 Examining Division ♦ Under direct supervision of Chief Examiner ♦ R ich ard E. H u n k e, Supervising Review Examiner ♦ L o u is J. K n o e p fe l, ♦ Joseph Supervising Review Examiner F. T iern ey , Supervising Review Examiner ( t r u s t d epar tm en ts ) Examination of State member banks, their affiliates, bank 4 holding companies, and Edge Act and agreement cor porations Trust department income and expense surveys BANK RELATIONS DEPARTMENT R o b e rt C. T hom an , Manager Bank Relations Division ♦ B e n ja m in S ta c k h o u se , Senior Administrative Assistant ( office ) Special Representative Special Representative ♦ Adam R. D ic k , Special Representative ♦ Joh n W . H y la n d , Special Representative ♦ J. R aym on d M u r r a y , Special Representative ♦ T heodore L. P e a s le y , Special Representative ♦ W i l l i a m W . W a h l, Special Representative ♦ W illia m A . A n t t ila , ♦ E r n e s t E. B la n c h e tt e , Liaison with District banks Membership in Federal Reserve System, inquiries on Visits to District banks Technical Assistance Division ♦ J oh n J. K n o x , Chief Member bank operations surveys Credit file installation and loan operation Functional analyses of income and expense Internal audit and control Teller, transit, and bookkeeping Building Operating and Service H arold A . B ilby, Vice President Assistant Vice President Lawrence E. Quackenbush, BUILDING OPERATING DEPARTMENT Building Superintendent ♦ A . Thomas Combader Building Maintenance Division ♦ C harles A . Gelardi, Chief Building Service Division ♦ A n th o n y C. Sgambat, Chief Power Plant Division ♦M atthew C. D rex le r, Chief Engineer SERVICE DEPARTMENT A rth u r H. Noa, Manager Post Office Division ♦ Joseph L. T u m in e lli, Chief M ail, incom ing and outgoing Protection Division ♦ G eo rg e H. T u sv eld , Chief Telephone Section ♦ M r s. M ild re d M . C a re w , Chief Operator 5 Cash and Collections Vice President Assistant Vice President A . M a c In n e s, Jr., Assistant Vice President M a r c u s A . H a r r is, J oh n P. J en sen , Angus CASH DEPARTMENT K e n n e th E. S m a ll, Manager Coin Division ♦ W i l l i a m J. F itz g e r a ld , Chief 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 Paying Division ♦ E u gen e C. Z a ise r, Assistant Chief Allotment of new currency to banks Certification of checks drawn on this Bank Payment of currency Sorting and Counting Division ♦ Joseph L. A n d e rso n , Chief ♦ C h a r le s F . B e is le r , 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 CASH CU STODY DEPARTMENT M a r t i n F ren c h , CHECK DEPARTMENT G eo rg e Manager C. S m ith , Manager Check Division ♦ Joseph C . A u c h t e r , Chief ♦ E lm e r L. G aden , Chief ♦ E dw ard J. M c G u ire , Chief (n ig h t) 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 Regulation J—Check clearing and collection Settlement of balances due to and due from participants in Bergen County Clearing Association and Nassau County Clearing Bureau Return Items and Adjustment Division ♦ W i l l i a m J. Ir w in , Chief Adjustments resulting from presentment and collection of checks Check Routing Symbol Program 6 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 CHECK M ECH AN IZATION DEPARTMENT A l o y s i u s J. S t a n t o n , Manager 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 of checks, and reciprocal encoding arrangements COLLECTION DEPARTMENT L eo n ard I. B e n n e t t s , Manager Collection Division ♦ G e r a ld J. C o n n o lly , 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 Coupon Division ♦ A l f r e d H. K ir k p a tr ic k , Chief Collection of bonds and coupons payable in any Federal Reserve District Payment of coupons on bonds of United States, its agencies or instrumentalities, and of International Bank for Re construction and Development Regulation G—Collection of noncash items Government Check Division ♦ G e r a ld J. C o n n o lly , Chief Collection of Government checks and postal money orders Wire Transfer Division ♦ Jam es H. B o o th , Chief Mail 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 CO LLECTION DEPARTM ENT— Wire Transfer Division (continued) Telegrams Coding, decoding, and authenticating by testword of, in volving payments of funds, shipments of currency, coin, and securities, or deliveries of securities for safe keeping Receipt and transmittal of Testwords for, furnishing of Telegraphic transfers of funds Foreign Vice President Vice President P e te r P . L a n g, Adviser M e r l y n N . Trued, Assistant Vice President C h a r le s A . C oom bs, H o r a c e L . S a n fo rd , FOREIGN DEPARTMENT T h om as J. R o ch e , Manager F r a n c is H . S c h o t t , Manager Cable Division ♦ N ic h o la s A b e l, Chief Cablegrams, radiograms, telegrams, and telex messages relating to foreign business: sending, receiving, coding, decoding, testing, and otherwise processing Foreign Assets Control Division ♦ R o b e rt R . Tom p kin s, Chief Cuban Import Regulations of Treasury, licenses under Foreign Assets Control Regulations of Treasury, licenses under Foreign Operations Division ♦ E d w in S. R o th m a n , 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 8 Government Bond and Safekeeping of Securities A. B ilb y , Vice President T. D a v is, Assistant Vice President H a r o ld F e lix GOVER NM EN T BO ND A N D SAFEKEEPING DEPARTMENT W a l t e r S. R ush m ore, Manager Government Bond Division ♦ Joh n J. M a s te r s o n , Chief 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 sav ings bonds), its agencies, and the International Bank for Reconstruction 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 SAVINGS BO ND DEPARTMENT M a r t in W. B e r g in , Manager Savings Bond Division ♦ G u s ta v E h rh ard t, Chief Accounts of issuing and paying agents Consignment of unissued Series E bonds Lost, stolen, mutilated, or destroyed savings bonds Redemption of savings bonds and of Armed Forces Leave Bonds Reissues and corrections Sales of Series E and H bonds SECURITY CU STO DY DEPARTMENT H a r o ld W. L e w is , Manager Legal Vice President and General Counsel Assistant General Counsel Edw ard G . G u y , Assistant General Counsel W i l l i a m H . B r a u n , Jr., Assistant Counsel R o b e rt J. C r o w le y , Assistant Counsel T h om as C . S lo a n e , Assistant Counsel T h om as M . T im le n , Jr., Assistant Counsel R o b e rt Y o u n g , J r., Assistant Counsel Todd G . T ieb o u t, J oh n J. C la r k e , Loans and Credits H a r o ld A. B ilb y , Vice President CREDIT A N D D IS C O U N T DEPARTMENT W i l l i a m E . M a r p le , Manager Credit Division ♦ H e r s c h e l L. H o rn 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 10 Discount Division ♦ H e n r y T. C h riste n se 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 Open Market Operations and Treasury Issues R o b e rt G. R o u se, Vice President Spencer S. M a r sh , Jr., R o b e rt SECURITIES DEPARTMENT Assistant Vice President W. S to n e , Assistant Vice President R o b e rt L. C ooper, Manager P e te r D . S t e r n lig h t , Manager Acceptance Division ♦ F r a n k li n S. D e u e l, 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 Securities Division ♦ C h a r le s K. M o u n t, 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 H. R o z e ll , Jr., Vice President L. Sm ed ley, Assistant Vice President F red erick PERSONNEL DEPARTMENT C h a r le s R . P ric h e r, W illia m Medical Division ♦ D r . H erm an G. S an d voss, Manager M. S c h u lt z , Manager Medical Director Personnel Relations Division ♦ F r a n c is H . R oh rb ach , Chief Employee assignment, rating, and counseling Employment Personnel Services Division ♦ R u t h A n n T y le r , Chief Employee benefits and services Payroll control Personnel records Salary Analysis Division ♦J o h n H . H e l f , Chief Job analysis and job evaluation Salary surveys and salary research Training and Development ♦ Under direct supervision of Managers Public Information W illia m T h om as F. Treiber, First Vice President O. W a a g e , Assistant Vice President PUBLIC IN F O R M A T IO N DEPARTM ENT P a u l M eek, Manager Public Information Division ♦ B ru c e K. M a c L a u r y , Chief ♦ R ichard E. S p eagle, Chief Dissemination of information about activities of this Bank, operations of the Federal Reserve System, and current developments in fields of money and banking Federal Reserve publications Films on the Federal Reserve System Guided tours of the Bank Press and public relations Weekly News Review 12 Research and Statistics G eo rg e G a rv y , Adviser R obert G. L i n k , Assistant Vice President MARKET STATISTICS DEPARTMENT M a d e lin e H . M c W h in n e y , Manager Market Statistics Division ♦ Irving A u e rb ach , Chief Collection and analysis of data on the U.S. Government securities market and the money market RESEARCH DEPARTMENT P e te r F o u se k , Senior Economist F red H . K lopstock , Manager R obert L in d s a y , Senior Economist Manager F r a n k W . S c h iff , Balance of Payments Division ♦ H a s k e l l P . W a ld , 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 Domestic Research Division ♦ J a ck M . G u tt e n t a g , Chief Analysis of business and financial conditions Studies relating to monetary and credit policy Financial and Trade Statistics Division ♦ A lb e r t M. W o jn ilo w e r , Chief Tabulation and analyses of banking statistics Tabulation of other current reporting series Foreign Research Division ♦ J oh n H ein , Chief Analysis of monetary and economic conditions in foreign countries and of international financial developments Reference Library ♦Janet 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 Secretary Secretary T h o m a s M . T i m l e n , J r ., P a u l M e e k , Assistant Circulars Division ♦ Joseph W is n o v s k y , Chief Bank circulars 13 BUFFALO BRANCH B. S m it h , Vice President Assistant Vice President G eorge J. D oll , Cashier Insley H arcld M . W e ssel , Accounting, Check, Personnel, and Protection G eorge J. D o ll , Cashier Accounting Division ♦ K e n n e th P. M ead, Chief Checkbooks, orders for Collection of Government checks Expenditures Member bank reserve accounts Nonmember bank clearing accounts Regulation D —Reserves of member banks Remittance accounts Sigm.ture authorities Stop-payment orders Tabulating operations Telegraphic and mail transfers of funds Teletype service Check Division ♦ F red erick W . M o r te n s o n , Chief Collection of checks payable in Second Federal Reserve Dis trict and other Federal Reserve Districts Mail, incoming and outgoing Postal money orders Regulation J—Check clearing and collection Return items Personnel Division ♦ A r t h u r A . R a n d a ll, Chief Employee rating and counseling Employment Job analysis and evaluation Medical services Payroll data Perso:inel records Salary surveys Protection Division ♦R a l p e C. R o b e r t s , Captain Audit Branch Auditing ♦ J oh n W. C o u g h lin , Branch Auditor Information reflected on the Buffalo Branch’s records fur nished to those entitled thereto Reconciliation of accounts of member banks and others 14 Bank and Public Relations Assistant Cashier Assistant Cashier M . M o n ro e M y e r s, Joh n T. K ea n e, Bank and Public Relations ♦ A l l a n C . H in es, Special Representative Bank and public relations activities Visitors at Buffalo Branch Visits to banks Building Operating and Service G e r a ld H . G reen e, Assistant Cashier Building Operating Division ♦ G eo rg e R. B o ss, Building Superintendent Service Division ♦ H a r r y A. C u r th , Jr., Assistant Chief Purchasing Telephone service Cafeteria Cash, Collection, Loans, and Securities Assistant Cashier Assistant Cashier G e r a ld H . G reen e, J oh n T . K e a n e , Cash Division ♦ H a r r is o n E. M a r tin , Chief Receipt and payment of currency and coin Sorting and counting of currency and coin Collection, Loans, and Securities Division ♦F r a n k H e n d e r s o n , Chief Collection Collection of corporate bonds and coupons Collection of notes, drafts, and other noncash items Reclamation of United States Government checks Regulation G—Collection of noncash items Credit and Discount Advances to and discounts for member banks Financial statement forms, Farm Credit File and Com mercial Credit File Regulation A —Advances and discounts by Federal Re serve Banks Securities Payment of coupons of the United States Government and its agencies Payment or redemption of securities of the United States Government and its agencies Safekeeping of securities for account of member banks Sales of Series E and H savings bonds 15 DIRECTORS Term expires D e cem b er 31 P h i l i p D . R e e d , Chairm an, and Federal Reserve A g en t ................................................................... 1962 (Class C director-ap p oin ted by Board of Governors) Former Chairman of the Board, General Electric Company, New York, N. Y. J a m e s D eC a m p W i s e , D eputy C h a ir m a n ............................................................................................. 1964 (Class C director—appointed by Board of Governors) Former Chairman of the Board, Bigelow-Sanford, Inc., New York, N. Y. C e s a r J . B e r t h e a u (Class A director—elected by Group 2 b a n k s) .................................................. 1962 Chairman of the Board, Peoples Trust Company of Bergen County, Hackensack, N. J. ........................................ 1963 G e o r g e C h a m p io n (Class A director—elected by Group 1 b a n ks) .................................................. Chairman of the Board, The Chase Manhattan Bank, New York, N. Y. 1964 E v e r e t t N . C a s e (Class C D irector-appoin ted by Board of Governors) President, Colgate University, Hamilton, N. Y. K e n n e t h H . H a n n a n (Class B d irector-elected by G roup 2 b a n ks) ................................................ 1962 Executive Vice President, Union Carbide Corporation, New York, N, Y. ...................................................... 1963 A l b e r t L . N i c k e r s o n (Class B d irector-elected by Group 3 b a n k s) .............................................. 1963 A . L e o n a r d M o t t (Class A d irector-elected by Group 3 banks) President, The First National Bank of Moravia, Moravia, N. Y. 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 d irecto r-elected by Group 1 b a n k s) ...................................................... Chairman of the Board, Allied Stores Corporation, New York, N. Y. 1964 DIRECTORS— BUFFALO BRANCH R a y m o n d E . O l s o n , Chairm an ............................................................................................................ President, Taylor Instrument Companies, Rochester, N. Y. 1962 H o w a r d N . D o n o v a n ............................................................................................................................................................... 1962 President, Bank of Jamestown, Jamesto'sm, N. Y. W h it w o r t h F e r g u so n .......................................................................................................................................................... 1964 President, Ferguson Electric Construction Co., Inc., Buffalo, N. Y. T homas E. L aM o n t ................................................................................................................................................................. 1963 Farmer, Albion, Orleans County, N. Y. E lm er B . M i l l im a n ............................................................................................................................................................... 1964 President, Central Trust Company Rochester N. Y., Rochester, N.Y. A n s o n F . S h e r m a n ................................................................................................................................................................. 1964 President, The Citizens Central Bank, Arcade, N. Y. F r a n c is A . S m it h ...................................................................................................................................................................... 1963 President, The Marine Trust Company of Western New York, Buffalo, N. Y. MEMBER OF FEDERAL A D V IS O R Y COUNCIL— 1962 G eorge A. M u r ph y ................................................................................................................................................................. 1962 Chairman of the Board, Irving Trust Company, New York, N. Y. 16 OFFICERS President F irst Vice President R o b e r t G . R o u s e , Vice President W a l t e r H . R o z e l l , J r ., V ice President H o r a c e L . S a n f o r d , Vice President T odd G . T i e b o u t , V ice President and G eneral Counsel A l fr e d H a y e s , W i l l i a m P . T r e ib e r , V ice President Vice President H o w a r d D . C r o s s e , V ice President M a r c u s A . H a r r i s , V ice President H e r b e r t H . K i m b a l l , V ice President H a r o ld A . B i l b y , C harles A . C o o m b s, Jo h n J. C larke, A ssistant G eneral Counsel L aw rence E. Q uackenbush Adviser A ssistant Vice President P. D a v is Assistant Vice President F r e d e r ic k L . S m e d l e y R obert G . L i n k Assistant Vice President A ssistant Vice President G eo r g e G a r v y Adviser A ssistant Vice President R obert W . S to n e A n g u s A . M acI n n e s , Jr . A ssistant Vice President A lan R . H olm es S pencer S . M a r sh , Jr. A ssistant Vice President Jo h n G. Guy, A ssistant G eneral Counsel P e te r P . L a n g F e l i x T . D a v is N orman E dw ard Assistant Vice President A ssistant Vice President P. J e n s e n F red W . P id e r i t , J r . A ssistant Vice President T h o m a s O . W aage Manager, Public Inform ation D epartm ent, and A ssistant Secretary M anager Collection D epartm ent M a r t i n W . B e r g in , Manager Savings Bond D epartm ent T r ued A ssistant Vice President A ssistant Vice President P aul M eek , L eonard I . B e n n e t t s , N. M erlyn A ssistant Vice President H. S c h o t t , M anager Foreign D epartm ent F r a n c is M. S c h u l t z , M anager Personnel D epartm ent W il l ia m Manager A ccounting D epartm ent D on ald C . N il e s , W il l ia m H . B r a u n , J r. Assistant Counsel M anager Securities D epartm ent A r th ur R obert L . C oo per, T h o m as C . S loane H. N o a , Manager A ssistant Counsel Service D epartm ent Manager C ash D epartm ent K enneth E. S m all, J o h n F . P ie r c e R obert J. C r o w l e y C h ief Exam iner A ssistant Counsel P eter F o u s e k G eorge C . S m i t h , M anager Personnel D epartm ent A l o y s iu s J. S ta n to n , C h a r l e s R . P r ic h e r , Manager B ank Exam inations D epartm ent Manager C h eck M echanization D epartm ent J o h n P . R in g e n , R obert L in d s a y D. S t e r n l i g h t , Manager Securities D epartm ent P eter M anager C redit and D iscount D epartm ent W il l ia m E . M arple, R obert C . T h o m a n , Manager G overnm ent Bond and Safekeeping D epartm ent T homas Manager Research D epartm ent R obert Y o u n g , J r . W alter S . R u s h m o r e , M a d e l in e H . M c W h i n n e y Manager B ank R elations D epartm ent Manager Foreign D epartm ent T h o m a s J. R o c h e , Senior Econom ist M anager M arket Statistics D epartm ent Manager C h eck D epartm ent Manager Planning D epartm ent E verett B . P o s t , Senior Econom ist M a r t i n F r e n c h , Manager C ash Custody D epartm ent F red H . K l o p s t o c k , Manager R esearch D epartm ent H a r o ld W . L e w i s , Manager Security Custody D epartm ent F r an k W . S c h if f , D on ald J . C a m e r o n , K arl L . E ge, M. T i m l e n , J r . Secretary, and A ssistant Counsel Assistant Counsel G eneral Auditor A ssistant G eneral Auditor OFFICERS • BUFFALO BRANCH V ice President A ssistant Vice President I n s l e y B . S m it h , H a r o ld M . W e s s e l , G eo r g e J . D o l l Cashier G e rald H . G r e e n e A ssistant C ashier J o h n T . K eane A ssistant Cashier M . M onroe M y er s Assistant Cashier 17 Index Page Page Checks Buffalo Branch Operations performed by ..................14,15 Adjustments........................................ Head Office Drawn on member banks’ reserve ac counts, receipt of, for immediate credit ............................................... 7 Drawn on this Bank, certification of . 6 Acceptances, open market transactions in .......................................................... 11 Accounts 6 Government, collection o f ................ 7 Deposits in ............................................... 3 Mechanization .................................... 7 Foreign and international Member bank reserve....................... ..... 3 Officers, issuance of Federal Reserve, in payment of gold purchased from Assay Office by gold dealers......... 7 Nonmember bank clearing.............. ..... 3 Return items ...................................... 7 United States Government, reclama tion o f ............................................... 7 8 Reconciliation of member banks’ and others’ ............................................. 3 Remittance ......................................... 3 Adjustment of check presentments . . . 6 Advances to member banks.............. 10,11 Armed Forces Leave Bonds................ Bergen County Clearing Association, settlements ......................................... 10 6 Bills of exchange Acceptance by member banks of, in quiries regarding ........................... 11 Open market purchases o f ................ 11 Circulars, Federal Reserve B a n k ....... 13 Clearing arrangements......................... 7 Coin ........................................................ 6 Commodity Credit Corporation, pay ment of drafts drawn under letters of commitment issued b y ...................... 7 Coupons payable in any Federal Re serve District, collection o f ............... 7 Coupons, payment of, on bonds of the United States Government, its agen cies or instrumentalities, and of the International Bank for Reconstruction and Development............................... 7 Bonds payable in any Federal Reserve District, collection o f ......................... 7 Credit data, collection and analysis of . 10 Branches, applications fo r .................... 4 Credit file form s.................................... 10 Building (Bank), operation o f ............. 5 Credit file installations.......................... 5 Cuban import regulations .................... 8 Currency 6 Cablegrams, radiograms, telegrams, and telex messages relating to foreign transactions ........................................ 8 Discounts for member banks.............10,11 Cash letters, remittances for Second District ............................................... 7 Drafts, acceptance by member banks, inquiries on ........................................ 11 Checkbooks ........................................... 3 Emergency planning............................. 3 Examination of State member banks, their affiliates, and certain other bank ing institutions ................................... 4 Check clearing and collection ............. 6 Check Routing Symbol Program . . . 6 18 ............................................... Page Expenditures Farm Credit File .................................. 3 10 Federal banking laws (criminal), re porting possible violations of 4 Federal Reserve Bank stock................ 4 Dividends on ...................................... 11 Federal Reserve System membership . 5 Films on Federal Reserve System . . . 12 Financial statement forms.................... 10 Foreign accounts .................................. 8 Foreign assets control ......................... 8 Foreign exchange.................................. 8 Gold Reserve Act of 1934 ...................... 8 Government securities Page Newspaper Review D aily 13 W eekly 12 Noncash items, collection o f ................ 7 Notes, drafts, and other noncash items, collection of 7 Open market operations....................... 11 Personnel matters ................................ 12 Philippine Government securities 9 Planning, internal.................................. 3 Postal deposits.................................... 6 Press relations........................................ 12 Protection Division .............................. 5 Agencies of United States................ 9 Publications, Federal Reserve ............ 12 Philippine ........................................... 9 Public relations .................................... 12 Puerto Rican ...................................... 9 Puerto Rican Government securities 9 United States...................................... 9 Purchase of supplies............................. 3 Regulation Information about this Bank and Federal Reserve System.................... 12 Information reflected on Bank’s rec ords, furnishing of............................... A Advances and discounts by Fed eral Reserve Banks................ 10,11 3 International Bank for Reconstruction and Development bonds, issuance, registration, exchange, redemption, delivery ............................................... 9 B Open market purchases of bills of exchange, trade acceptances and bankers’ acceptances under section 14 of the Federal Re serve Act .................................. 11 C Acceptance by member banks of drafts or bills of exchange . . . .4,11 International financial organizations, dollar, gold, and security custody ac counts of 8 Legal matters......................................... 10 Liaison with District banks.................. 5 Library.................................................... 13 Member bank operations surveys....... 4 G Collection of noncash item s 7 5 H Membership of State banking in stitutions in the Federal Re serve System ............................. 4 5 I Membership in Federal Reserve Sys tem ...................................................... 5 Mergers, applications f o r ...................... 4 Money orders, postal, collection of ... . 7 Nassau County Clearing Bureau, settle ments .................................................. 6 3 11 F Trust powers of national banks Loan guarantees for defense produc tion .................................................... 10,11 Mail, incoming and outgoing................ D Reserves of member banks E Purchase of warrants Increase or decrease of capital stock of Federal Reserve Banks and cancelation of old and issue of new stock certificates ............ 4 J Check clearing and collection ... 6 K Corporations doing foreign bank ing or other foreign financing under the Federal Reserve Act 4 Page Page L Interlocking bank directorates un der the Clayton A c t .................. 4 M Foreign branches of national banks and of corporations organized under the provisions of section 25(a) of the Federal Reserve Act ............................................. 4 O Loans to executive officers of member banks........................... Return of unpaid checks...................... 7 Safekeeping of securities .................... 9 Savings bonds ........................................ 10 Securities dealers, collection of data from ..................................................... 13 Securities, delivery and receipt of . . . . 9 4 Settlements among participants in city clearing arrangements of banks out side New York C ity ........................... 7 P Holding company affiliates—vot ing permits................................ 4 Signature authorities ........................... Statistics ................................................. 3 13 Q Payment of interest on deposits . 4 Stop-payment orders............................. 3 R Relationships with dealers iri se curities under section 32 oi the Banking Act of 1933 ................ T Credit by brokers, dealers, and members of national securities exchanges .................................. U Loans by banks for the purpose of purchasing or carrying regis tered stocks ............................... 4 Surveys, member bank operations . . . . 5 Taxes, Federal, deposits o f .................... 3 Telegrams, sending and receiving ... 8 Foreign transactions, relating to ... . 8 Telephone Section ................................. 5 4 Tours of Federal Reserve Bank ......... 12 4 Trade acceptances, open market pur chases of ............................................. Transfers of funds Mail ..................................................... V Loan guarantees for defense pro duction ......................................10,11 11 7 Telegraph ............................................ 8 3 9 4 Reports Condition and earnings of State m am ber banks ........................................ Treasurer’s account, United States .. . Treasury Tax and Loan Accounts . . . . Trust department surveys.................... 4 United States securities........................9 , 10 Examination, analysis o f .................. 4 Operating ratios ................................ 4 Unusual currency transactions . . . 6 United States Stabilization Fund......... Research ................................................. 13 Visits to District banks ........................ 5 Reserves of member banks ................ 3 Warrants, purchase o f ........................... 11 Y Bank holding companies............ 20 Cash subscriptions and tenders....... Purchases and sales for account of member banks................................. 5 11 11 8
@FedFRASER