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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 30, 1969 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 of 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 of St. L o u is and F e d e r a l R e s e r v e A g en t at the bank f o r the y e a r 1970. He has s e r v e d in th es 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 ay 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 ife In s u r a n c e C o m p a n y , St. L o u is , M iss o u r i,, M r . Sm ith D. B r o a d b e n t , J r. , C a d iz , K en tu ck y, has b e e n r e a p p o in t e d 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 of D i r e c t o r s o f the bank f o r the y e a r 1970. He has s e r v e d in this c a p a c it y and as a D i r e c t o r o f the bank s in c e Jan uary 1965. M r , B r o a d b e n t a l s o s e r v e d as a D i r e c t o r of 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 June 1948 th rou gh D e c e m b e r 1955, 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 f r o m 1953 th rou gh 1955. He is o w n e r o f the B r o a d b e n t H y b r id Seed C o. , C a d iz , K en tu ck y. M r . Sam 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 iv i s i o n o f K r a f t c o C o r p o r a t io n , M e m p h is , T e n n e s s e e , has b e e n r e a p p o in te d b y the B o a r d of 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 Jan uary 1, 1970. He has s e r v e d in this c a p a c it y s in c e J an u ary 1969, and 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 January 1964 th rou gh D e c e m b e r 1968 and as C h a ir m a n of the M e m p h is B o a r d 1965 and 1968. The fo llo w in g a p p oin tm en ts to the B o a r d s of 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 ou is h ave b e e n m a d e b y the B o a r d of G overnors: M r . Jake H a r tz , J r. , P r e s i d e n t , J a c o b H artz S eed Co. , In c. , Stuttgart, A r k a n s a s , r e a p p o in te d as a m e m b e r o f the Little 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 Jan uary 1, 1970. M r . John G. B e a m , P r e s i d e n t , T h o m a s In d u s t r ie s In c. , L o u i s v i l l e , K entucky, r e a p p o in te d as a m e m b e r o f the L o u is v ille 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 beg in n in g Jan uary 1, 1970. m ore - 2 - M r . W illia m L. G i l e s , P r e s i d e n t , M i s s i s s i p p i State U n iv e r s it y , State C o l l e g e , M i s s i s s i p p i , 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 J a n u a ry 1, 1970. The fo llo w in g w e r e ap 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 is : M r . E l l i s E. Shelton, P r e s i d e n t , The F i r s t N ation al Bank o f F a y e t t e v ille , F a y e t t 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 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 beg in n in g Jan uary 1, 1970. M r . W ayne A . Stone, P r e s i d e n t , S im m o n s F i r s t N ational Bank o f P in e B lu ff, P in e B lu ff, 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 beg in n in g Jan u ary 1, 1970, M r . P a u l C h a se , P r e s i d e n t , The B e d f o r d N ational Bank, B e d f o r d , Indiana, r e a p p o in t e 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 J a n u a ry 1, 1970. M r . J a m e s C. Z i m m e r m a n , E x e c u t iv e V ic e P r e s i d e n t , The O w e n s b o r o N ation al Bank, O w e n s b o r o , K en tu ck y, ap p oin ted 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 uary 1, 1970. M r , J a m e s R. F itzh u gh , E x e c u t iv e V ic e P r e s i d e n t and C a s h i e r , Bank o f R ip le y , R ip le y , T e n n e s s e e , a p p oin ted 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 J an u ary 1, 1970. M r . L e w is K. M c K e e , C h a ir m a n o f the B o a r d , N ation al Bank o f C o m m e r c e , M e m p h is , T e n n e s s e e , a p p oin ted 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 uary 1, 1970. 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 re c h o s e n b y the m e m b e r banks 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 ch has s ev en D i r e c t o r s , fo u r o f w h o m a r e ap 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 . - end - 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 442 ST. LO U IS, M ISSO U R I 63166 December 30, 1969 T o all Banks in the Eighth Federal Reserve D istrict: The Board of Governors of the Federal Reserve System has announced the following appoint ments and designation at this Bank and its Branches: Federal Reserve Bank of St. Louis M r . Frederic M . Peirce Chairman and Chief Executive Officer General American Life Insurance Company St. Louis, Missouri M r . Smith D. Broadbent, Jr . Owner Broadbent Hybrid Seed Co. Cadiz, Kentucky M r . Sam Cooper President HumKo Products Division of Kraftco Corporation Memphis, Tennessee Redesignated Chairman of the Board and Federal Reserve Agent at the Bank for the year 1970. Reappointed Deputy Chairman of the Board for the year 1970. Reappointed a Class C director of the Bank for a three-year term beginning January 1, 1970. Little Rock Branch M r. Jake Hartz, Jr. President Reappointed a director for a three-year term beginning January 1, 1970. Jacob Hartz Seed Co., Inc. Stuttgart, Arkansas Louisville Branch M r. John G. Beam President Thomas Industries Inc. Louisville, Kentucky Reappointed a director for a three-year term beginning January 1, 1970. Memphis Branch M r . W illiam L. G iles President Mississippi State University State College, Mississippi Reappointed a director for a three-year term beginning January 1, 1970. The Board of Directors of the Federal Reserve Bank of St. Louis has made the following appoint ments : Little Rock Branch M r. Ellis E. Shelton President The First National Bank of Fayetteville Fayetteville, Arkansas Reappointed a director for a three-year term beginning January 1, 1970. M r . W ayne A. Stone President Simmons First National Bank of Pine Bluff Pine Bluff, Arkansas Reappointed a director for a three-year term beginning January 1, 1970. Louisville Branch M r. Paul Chase President The Bedford National Bank Bedford, Indiana Reappointed a director for a three-vear term beginning January 1, 1970. M r . James C. Z immerman Executive Vice President The Owensboro National Bank Owensboro, Kentucky Appointed a director for a three-year term beginning January 1, 1970. Memphis Branch M r. James R. Fitzhugh Executive Vice President and Cashier Bank of Ripley Ripley, Tennessee Appointed a director for a three-year term beginning January 1, 1970. M r . Lewis K. M cK ee Chairman of the Board National Bank of Commerce Memphis, Tennessee Appointed a director for a three-year term beginning January 1, 1970. Yours very truly Darryl R. Francis President
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