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F E D E R A L R E S E R V E B A N K O F S T. L O U IS P. O. B O X 4 4 2 S T . L O U IS , M I S S O U R I 6 3 1 6 6 December 29, 1970 T o A ll Banks in the E ighth F ederal R eserve D istrict: The Board of Governors of the Federal Reserve System has announced the following appoint' m ents and designation at this Bank and its Branches: Federal Reserve Bank of St. Louis M r . F rederic M. Peirce Chairman and Chief Executive Officer General American Life Insurance Company St. Louis, Missouri M r . Sam C ooper President HumKo Products Division of Kraftco Corporation Memphis, Tennessee M r . H arry M. Y oung , Jr . Farmer Herndon, Kentucky Redesignated Chairman of the Board and Federal Reserve Agent at the Bank for the year 1971. Appointed Deputy Chairman of the Board for the year 1971. Appointed a Class C director of the Bank for a three-year term beginning January 1, 1971. Little Rock Branch M r . R oland R. R emmel Chairman of the Board Southland Building Products Co. Little Rock, Arkansas Appointed a director for a three-year term beginning January 1, 1971. Louisville Branch D r . W illiam H. Stroube College of Science and Technology Western Kentucky University Bowling Green, Kentucky Appointed a director for a three-year term beginning January 1, 1971. Memphis Branch M r . A lvin H uffman , Jr . President Huffman Brothers, Incorporated Blytheville, Arkansas Reappointed a director for a three-year term beginning January 1, 1971. The Board of Directors of the Federal Reserve Bank of St. Louis has made the following appointments and selection: Little Rock Branch M r . E dward M. Penick President and Chief Executive Officer Worthen Bank & Trust Company Little Rock, Arkansas Reappointed a director for a three-year term beginning January 1, 1971. Louisville Branch M r . H arold E. Jackson President The Scott County State Bank Scottsburg, Indiana M r . H erbert J. Smith President The American National Bank and Trust Company of Bowling Green Bowling Green, Kentucky Appointed a director for a three-year term beginning January 1, 1971. Appointed a director, beginning January 1, 1971, for the unexpired portion of a term ending December 31, 1972. M em phis Branch M r . J. J. W hite President Helena National Bank Helena, Arkansas Reappointed a director for a three-year term beginning January 1, 1971. Member of Federal Advisory Council M r . A llen M organ Chairman of the Board The First National Bank of Memphis Memphis, Tennessee Reselected a member of the Federal Advisory Council to represent the Eighth Federal Reserve District for the year 1971. Yours very truly Darryl R. Francis President Press Information Federal Reserve Bank of St. Louis St. Louis, Missouri 63166 FOR RELEASE T u e s d a y , D e c e m b e r 29, 1970 M r . F r e d e r i c M . P e i r c e o f St. L o u is , M i s s o u r i , has b e e n r e d e s ig n a t e d b y the B o a r d o f G o v e r n o r s o f the F e d e r a l R e s e r v e S y s t e m as C h a ir m a n o f the B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e Bank o f St. L o u is and F e d e r a l R e s e r v e A g e n t at the bank f o r the y e a r 1971. He has s e r v e d in t h e s e c a p a c it ie s and as a D i r e c t o r o f the bank s in c e M a y 11, 1966. M r . P e i r c e is C h a ir m a n and C h ie f E x e c u t iv e O f f i c e r o f the G e n e r a l A m e r i c a n L if e I n s u r a n c e C o m p a n y , St. L o u i s , M i s s o u r i . M r . S am C o o p e r , P r e s i d e n t , H um K o P r o d u c t s , D i v is io n o f K r a f t c o C o r p o r a t i o n , M e m p h is , T e n n e s s e e , has b e e n a p p oin ted b y the B o a r d o f G o v e r n o r s as D eputy C h a ir m a n o f the B o a r d o f D i r e c t o r s o f the ban k f o r the y e a r 1971. He has s e r v e d as a D i r e c t o r o f the ban k s in c e Jan u a ry 1969. M r . C o o p e r a l s o s e r v e d as a D i r e c t o r o f the M e m p h is B r a n c h o f the F e d e r a l R e s e r v e Bank o f St. L o u is f r o m Jan u a ry 1964 th r o u g h D e c e m b e r 1968 and as C h a ir m a n o f the M e m p h is B o a r d 1965 and 1968. M r . H a r r y M . Y ou n g, J r . , F a r m e r , H e rn d o n , K en tu ck y, has b e e n a p p oin ted b y the B o a r d o f G o v e r n o r s as a D i r e c t o r o f the F e d e r a l R e s e r v e Bank o f St. L o u is f o r a t h r e e - y e a r t e r m b eg in n in g J an u ary 1, 1971. He has s e r v e d as a D i r e c t o r o f the L o u i s v i l l e B r a n c h o f the F e d e r a l R e s e r v e Bank o f St. L o u is f r o m J a n u a ry 1968 th rou gh D e c e m b e r 1970 and as C h a ir m a n o f the L o u i s v i l l e B o a r d 1969 and 1970. The f o llo w in g a p p o in tm e n ts to the B o a r d s o f D i r e c t o r s o f the B r a n c h e s o f the F e d e r a l R e s e r v e Bank o f St. L o u is h a v e b e e n m a d e b y the B o a r d o f G overnors: M r . R o la n d R. R e m m e l , C h a ir m a n o f the B o a r d , Southland B u ild in g P r o d u c t s C o. , L ittle R o c k , A r k a n s a s , ap p oin ted as a m e m b e r o f the L ittle R o c k B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b eg in n in g J a n u a ry 1, 1971. D r . W i llia m H. S tr o u b e , C o lle g e o f S c ie n c e and T e c h n o lo g y , W e s t e r n K en tu ck y U n iv e r s it y , B o w lin g G r e e n , K en tu ck y, a p p o in te d as a m e m b e r o f the L o u i s v i l l e B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b e g in n in g J a n u a ry 1, 1971. - m ore - Z - M r , A lv in H uffm an, J r . , P r e s i d e n t , H uffm an B r o t h e r s , I n c o r p o r a t e d , B ly t h e v ille , A r k a n s a s , r e a p p o in t e d as a m e m b e r o f the M e m p h is B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b eg in n in g Jan u ary 1, 1971. The fo llo w in g w e r e a p p oin ted b y the B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e B ank o f St. L o u i s : M r . E d w a r d M . P e n i c k , P r e s i d e n t and C h ie f E x e c u t iv e O f f i c e r , W o r th e n Bank & T r u s t C o m p a n y , L ittle R o c k , A r k a n s a s , r e a p p o in t e d as a m e m b e r o f the L ittle R o c k B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b e g in n in g Jan u a ry 1, 1971. M r . H a r o ld E . J a c k s o n , P r e s i d e n t , The S cott County State Bank, S c o t t s b u r g , Indiana, a p p o in te d as a m e m b e r o f the L o u i s v i l l e B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b eg in n in g Jan u a ry 1, 1971. M r . H e r b e r t J. Sm ith, P r e s i d e n t , The A m e r i c a n N ation al Bank and T r u s t C o m p a n y o f B o w lin g G r e e n , B o w lin g G r e e n , K en tu ck y, a p p o in te d as a m e m b e r o f the L o u i s v i l l e B r a n c h B o a r d , b e g in n in g J a n u a ry 1, 1971, f o r the u n e x p ir e d p o r t i o n o f a t e r m ending D e c e m b e r 31, 1972. M r . J. J. W hite, P r e s i d e n t , H elen a N ation al Bank, H e le n a , A r k a n s a s , r e a p p o in t e d as a m e m b e r o f the M e m p h is B r a n c h B o a r d f o r a t h r e e - y e a r t e r m b e g in n in g Jan u a ry 1, 1971. The B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e Bank c o n s i s t s o f nine m e m b e r s , s ix o f w h o m a r e c h o s e n b y the m e m b e r ba n k s and t h r e e b y the B o a r d o f G o v e r n o r s in W ash in g ton . E a c h B r a n c h has s e v e n D i r e c t o r s , f o u r o f w h o m a r e a p p oin ted b y the B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e Bank and t h r e e b y the B o a r d o f G o v e r n o r s . The B o a r d o f D i r e c t o r s o f the F e d e r a l R e s e r v e Bank o f St. L o u is has r e s e l e c t e d M r . A l l e n M o r g a n as a m e m b e r o f the F e d e r a l A d v i s o r y C o u n c il to r e p r e s e n t the E ighth F e d e r a l R e s e r v e D i s t r i c t f o r the y e a r 1971. M r . M o r g a n is C h a ir m a n o f the B o a r d , The F i r s t N ational Bank o f M e m p h is , M e m p h is , Tennessee. - end -