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Statement for the Press
Released for publication in morning papers of January 2, 19420

William T. Nardin, St. Louis, has been redesignated as
Chairman of the Board and Federal Reserve Agent, and Oscar G. Johnston,
Scott, Miss., as Deputy Chairman, of the Federal Reserve Bank of St.
Louis, for 1942.
Douglas W, Brooks, Memphis, Tenn., has been reappointed a
Class C director of the parent bank. The following were recently
elected Class A and Class B directors; Sidney Maestre, St. Louis,
Class A; John R.. Stanley, Evansville, Ind., Class B; and Henry H.
Tucker, Little Rock, Ark., Class B. Tucker succeeded the late
Harvey C. Couch.
The following have been appointed directors of the branches
of the bank;
Little Rock Branch - S. M. Brooks, Little Rock; Paul R. LIcCoy,
Stuttgart, Ark., and A. F, Bailey, Little Rock.
Louisville Branch - E. J. O ’Brien, Jr., Louisville; Ralph C. Gifford,
Louisville, and Chas. A. Schacht, Louisville,,
Memphis Branch - J. Holmes Sherard, Sherard, Miss.; Oliver Benton,
Jackson, Tenn., and W. H. Glasgow, Memphis.
The Board of Directors of the Federal Reserve Bank consists
of nine members, divided into groups of three each, designated as
Classes A, B, and C. Class A and B directors are elected by the mem­
ber banks, and Class C directors are appointed by the Board of Gover­
nors in Washington.
The Board of Directors of each branch consists of seven
members, four of whom are appointed by the Federal Reserve Bank of
St. Louis and three by the Board of Governors.

Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102