Nomination and Election of Class A Director

Transcription

1 FEDERAL RESERVE BANK OF NEW YORK Circular No April 11, 1938 Nomination and Election of Class A Direct Term Ending December 31, 1938 To Member Banks in the Second Federal Reserve District: An election will be held under the provisions of section 4 of the Federal Reserve Act, as amended, to fill the vacancy, caused by the death of EDWABD K. MILLS, in the office of class A direct of this bank f the term ending December 31, Mr. Mills, who was president of the Mristown Trust Company, Mristown, N. J., was elected a class A direct of the Federal Reserve Bank of New Yk by member banks in Group 2, and his success will be chosen by this group. The banks in Groups 1 and 3 will not participate in this election. The classification of member banks f the purpose of nomination and election of class A and B directs of the Federal Reserve Bank of New Yk is as follows: Group 1 consists of banks with capital and surplus of over $1,999,000, Group 2 consists of banks with capital and surplus of $301,000 to $1,999,000, (listed on pages 3-7), and Group 3 consists of banks with capital and surplus of less than $301,000. Except in the case of two me banks affiliated with the same holding company affiliate*, Section 4 of the Federal Reserve Act, as amended, reads in part as follows: "... That whenever any two me member banks within the same Federal reserve district are affiliated with the same holding company affiliate, participation by such member banks in any such nomination election shall be confined to one of such banks, which may be designated f the purpose by such holding company affiliate." Accdingly, banks in Group 2 affected by the fegoing provision of the law are requested to take prompt action to have the appropriate holding company affiliate designate, if it has not already designated, one of its affiliated banks to participate in this nomination and election.

2 each bank in Group 2 is permitted to nominate a candidate f class A direct.** The nomination should be made by resolution of the board of directs of the nominating bank and a certified copy of such resolution should be sent to me so as to reach me on befe May 12, The printed fm, two copies of which are enclosed, shows the appropriate fm of resolution and one copy should be used in sending a certified copy of the resolution to me. On May 14, 1938, copies of the list of candidates (indicating by whom nominated) and preferential ballots will be mailed so that, in the nmal course of the mails, they will be received by all banks in Group 2 on May 16, The law provides that the ballot shall be cast within 15 days after receipt of this list. The polls will open on May 16,1938, and will close at 12 o 'clock noon on Tuesday, May 31,1938. Upon the closing of the polls the ballot box will be opened in the board room of this bank, the votes counted and checked by tellers, and the result of the election announced. The candidates will be invited to be present represented on that occasion. In der to be counted as valid, the ballot must be executed by an officer authized to cast the vote and must be received by me at befe the time thus fixed f the closing of the polls (i.e., at befe 12 o'clock noon on Tuesday, May 31, 1938). The list on the following pages shows the officers heretofe designated f this purpose by the respective banks in Group 2. The banks in Groups 1 and 3 will not participate in this election, and this circular is sent to them without fms f their infmation only. - OWEN D. YOUNG, Chairman of the Board. Section 4 of the Federal Reserve Act, as amended, reads in part as follows: "Class A shall consist of three members, who shall be chosen by and be representative of the stock-holding banks.... No officer direct of a member bank shall be eligible to serve as a class A direct unless nominated and elected by banks which are members of the same group as the member bank of which he is an officer direct. "Any person who is an officer direct of me than one member bank shall not be eligible f nomination as a class A direct except by banks in the same group as the bank having the largest aggregate resources of any of those of which such person is an officer direct.'' '' No Senat Eepresentative in Congress shall be a member of the Board of Governs of the Federal Reserve System an officer a direct of a Federal reserve bank." In a resolution adopted December 23, 1915, the Board of Governs of the Federal Reserve System expressed the opinion "that persons holding political public office in the service of the United States, of any State, territy, county, district, political subdivision, municipality thereof, acting as members of political party committees, cannot consistently with the spirit and underlying principles of the Federal Reserve Act, serve as directs officers of Federal Reserve Banks." On December 28, 1915, the Board of Governs of the Federal Reserve System resolved that "national bank examiners shall not hereafter be elected * * to directships in Federal Reserve Banks."

3 1938 Election of Class A Direct Term Ending December 31, 1938 List of 239 Member Banks in Group 2 Revised to April 8, 1938 Group 2 consists of member banks with capital and surplus of $301,000 to $1,999,000 Danbury Danbury Greenwich Nwalk South Nwalk CONNECTICUT City National Bank & Trust Company of Danbury. The Danbury National Bank First National Bank in Greenwich The National Bank of Nwalk The City National Bank of South Nwalk.... m, any Vice, any Vice, any Vice, any Vice - ^_ Asbury Park Bayonne Belleville Bloomfield isouna isroo Caldwell Clifton Closter Dover Dover East Orange Elizabeth Elizabeth Elizabeth Englewood Flemington Freehold Hackensack Hackensack Hackensack Hackensack Harrison Irvington Jersey City Kearny Kearny Linden Millburn Montclair Montclair Montclair Mristown Mristown Mristown NEW JERSEY Asbury Park National Bank and Trust Company. Bayonne Trust Company The First National Bank of Belleville Bloomfield Bank and Trust Company The First National Bank of Bound Brook. The Citizens National Bank and Trust Company of Caldwell The First National Bank of Clifton Closter National Bank and Trust Company.... The Dover Trust Company The National Union Bank of Dover Savings Investment & Trust Company Central Home Trust Company The Elizabethpt Banking Company The National State Bank of Elizabeth The Citizens National Bank and Trust Company of Englewood The Hunterdon County National Bank of Flemington. The First National Bank of Freehold The Bergen County National Bank of Hackensack. The City National Bank and Trust Company of Hackensack The Hackensack Trust Company Peoples Trust Company of Bergen County. The Harrison National Bank The Irvington National Bank The Franklin National Bank of Jersey City. The First National Bank and Trust Company of Kearny Kearny National Bank Linden Trust Company The First National Bank of Millburn Bank of Montclair The First National Bank and Trust Company of Montclair (P. O., Upper Montclair, N. J.) Montclair Trust Company The First National Bank of Mristown. The Mristown Trust Company The National Iron Bank of Mristown. Clinton Trust Company Columbus Trust Company Franklin Washington Trust Company 3 any Assistant, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, Treasurer, the Assistant Treasurer, any Vice, any Vice, any Vice, any Vice I'I.sident,, any Vice, any Vice, any Vice, any Vice, any Vice,, Secretary, Treasurer, any Vice James R. English, Direct, any Vice, any Vice, any Vice, any Vice, Secretary and Treasurer, any Vice, any Vice, any Vice, any Assistant Vice, any Vice, any Vice, Treasurer

4 NEW JERSEY (Continued) Lincoln National Bank of Union National Bank in United States Trust Company of New Brunswick New Brunswick Newton Orange Orange Passaic Passaic West Side Trust Company The National Bank of New Jersey. The Peoples National Bank of New Brunswick The Sussex and Merchants National Bank of Newton The Orange First National Bank The Second National Bank of Orange Bank of Passaic and Trust Company... ". Peoples Bank and Trust Company Assistant, Secretary, any Vice, Secretary Treasurer, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice Chairman of the Board,, any Vice Paterson The First National Bank of Paterson, any Vice Paters on The Hamilton Trust Company of Paterson, New Jersey., any Vice, Secretary Paterson National Union Bank of America in Paterson Paterson The Paterson National Bank., any Vice Perth Amboy First Bank and Trust Company Perth Amboy, any Vice The Perth Amboy National Bank Phillipsburg, any Vice The Phillipsburg National Bank and Trust Company Phillipsburg, any Vice The Second National Bank of Phillipsburg Plainfield, any Vice The First National Bank of Plainfield. Plainfield The Plainfield Trust Company Plainfield The State Trust Company at Plainfield, New Jersey Pompton Lakes The First National Bank and Trust Company of, any Vice Pompton Lakes Prospect Park The Prospect Park National Bank (P. 0., Paterson, N. J.), any Vice, any Vice Rahway The Rahway National Bank Ramsey The First National Bank and Trust Company of Ramsey, any Vice Red Bank The Second National Bank and Trust Company of Red, any Vice Bank Ridgefield Park Ridgefield Park Trust Company, any Vice, Secretary Ridgewood Citizens First National Bank and Trust Company of, any Vice Ridgewood Roselle, any Vice The First National Bank of Roselle Rutherfd The Rutherfd National Bank any Assistant Rutherfd Rutherfd Trust Company South Amboy The First National Bank of South Amboy., any Vice South River The First National Bank of South River. Chairman of the Board,, any Vice Summit The First National Bank and Trust Company of Summit, any Vice Summit The Summit Trust Company Union City The First National Bank of Union City., any Vice Westfield Peoples Bank & Trust Company, Westfield, New Jersey. Westfield The Westfield Trust Company West Orange The First National Bank of West Orange...., any Vice NEW YORK Amsterdam Amsterdam Amsterdam Amsterdam Auburn Baldwin Ballston Spa Binghamton The Amsterdam City National Bank The Farmers National Bank of Amsterdam The First National Bank of Amsterdam Montgomery County Trust Company The National Bank of Auburn The Baldwin National Bank and Trust Company The Ballston Spa National Bank. The City National Bank of Binghamton Binghamton Binghamton The First National Bank of Binghamton Marine Midland Trust Company of Binghamton,,,,, any Vice, any Vice, any Vice, any Vice, any Vice, Treasurer, Vice Chairman of the Board,, any Vice, any Vice

5 NEW YOEK (Continued) Bronx ville Buffalo Canajoharie Canandaigua Canandaigua Carthage Cazenovia Cobleskill Cohoes Cooperstown Cooperstown Cning Ctland Dunkirk Dunkirk Dunkirk Blmira Flal Park Ft Plain Freept Fulton Garden City Geneseo Geneva Geneva Glens Falls Glens Falls Gloversville Gloversville Gloversville Goshen Hempstead Herkimer Hicks ville Hoosick Falls Hudson Hudson Ilion Ithaca Ithaca Jamestown Jamestown Jamestown Johnson City Kenme Kingston Kingston Kingston Kingston Liberty Little Falls Little Falls The Gramatan National Bank and Trust Company of,, any Assistant Bronxville, any Vice The Niagara National Bank of Buffalo., any Vice The Canajoharie National Bank, any Vice The Canandaigua National Bank and Trust Company, any Vice Ontario County Trust Company Chairman of the Board,, any Vice Carthage National Exchange Bank The Cazenovia National Bank, any Vice The First National Bank of Cobleskill, any Vice The National Bank of Cohoes, any Vice The First National Bank of Cooperstown., any Vice The Second National Bank of Cooperstown., any Vice First National Bank and Trust Company of Cning, any Vice First National Bank of Ctland Dunkirk Trust Company, any Vice The Lake She National Bank of Dunkirk., any Vice The Merchants National Bank of Dunkirk. Chairman of the Board,, any Vice First National Bank & Trust Company of Elmira The First National Bank and Trust Company of Flal, any Vice Park, any Vice The Ft Plain National Bank The First National Bank and Trust Company of Freept, any Vice, any Vice Citizens National Bank and Trust Company of Fulton Garden City Bank and Trust Company Genesee Valley National Bank and Trust Company of Executive Officer Geneseo, any Vice, Secretary Geneva Trust Company , any Vice The National Bank of Geneva The First National Bank of Glens Falls...., any Vice Glens Falls National Bank and Trust Company. City National Bank and Trust Company of Gloversville, any Vice The Fulton County National Bank and Trust Company of Gloversville Trust Company of Fulton County, any Vice The National Bank of Orange County of Goshen The Second National Bank and Trust Company of Hempstead, any Vice The First National Bank of Herkimer, any Vice Bank of Hicksville, any Vice The Peoples-First National Bank of Hoosick Falls, any Vice The Farmers National Bank of Hudson. The First National Bank and Trust Company of Hudson Assistant Ilion National Bank and Trust Company, any Vice The First National Bank of Ithaca...., any Vice Tompkins County Trust Company, any Vice Bank of Jamestown, any Vice The First National Bank of Jamestown, any Vice The National Chautauqua County Bank of Jamestown, any Vice Wkers Trust Company Secretary The First National Bank of Kenme (P. 0., Hertel Station, Buffalo, N. Y.), any Vice, any Vice First National Bank of Eondout..... Kingston Trust Company F. J. R. Clarke, The National Ulster County Bank of Kingston, any Vice The State of New Yk National Bank, any Vice The Sullivan County National Bank of Liberty, any Vice, Secretary The Herkimer County Trust Company...., any Vice The Little Falls National Bank

6 NEW YORK (Continued) Lockpt Lynbrook Malone Niagara County National Bank and Trust Company The Lynbrook National Bank & Trust Company The People's Trust Company of Malone Middletown Middletown Miaeola Mineola The National Bank of Middletown Orange County Trust Company The First National Bank of Mineola Nassau County Trust Company.... Monticello Mount Kisco Mount Vernon Mount Vernon Newburgh The National Union Bank of Monticello The Mount Kisco National Bank and Trust Company The First National Bank of Mount Vernon Fleetwood Bank Highland-Quassaick National Bank and Trust Company of Newburgh Newburgh The National Bank of Newburgh.. New Eochelle First National Bank of New Eochelle.... Nwich The Chenango County National Bank and Trust Com pany of Nwich Nwich The National Bank and Trust Company of Nwich Nyaek The Nyack National Bank and Trust Company Ogdensburg Ogdensburg Trust Company Olean The Exchange National Bank of Olean Olean The First National Bank of Olean.... Oneida Madison County Trust and Deposit Co. Oneida The Oneida Valley National Bank of Oneida Oneonta The Wilber National Bank of Oneonta... Ossining The First National Bank and Trust Company of Ossining Ossining Ossining Trust Company Oswego First and Second National Bank and Trust Company of Oswego Peekskill The Westchester County National Bank of Peekskill Plattsburg Plattsburg National Bank & Trust Company Pleasantville The First National Bank of Pleasantville Pleasantville Mount Pleasant Bank & Trust Company Pt Chester The First National Bank and Trust Company of Pt Chester Pt Jervis The First National Bank of Pt Jervis Pt Washington The Pt Washington National Bank and Trust Company The Fallkill National Bank and Trust Company of The Farmers and Manufacturers National Bank of The First National Bank of Merchants National Bank & Trust Company of Eiverhead The Suffolk County National Bank of Biverhead Eoehester Eockville Centre Central Trust Company Eoehester, N. Y?he Nassau County National Bank of Eockville Centre Eome Fanners National Bank and Trust Company of Eome Eome tome Trust Company Eye The Eye National Bank Salamanca alamanca Trust Company SaratogaSprings SaratogaSprings Searsdale Schenectady Schenectady Schenectady Southampton 'he Adirondack Trust Company aratoga National Bank of Saratoga Springs carsdale National Bank and Trust Company 'he Mohawk National Bank of Schenectady he Scheneetady Trust Company he Union National Bank of Schenectady. he First National Bank of Southampton 6, any Vice, any Vice, any Vice, Secretary, Treasurer, any Vice, any Vice, Secretary, any Assistant Secretary, Vice, any Vice C. S. McClellan,, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice,,,,, any any any any any Vice Vice Vice Vice Vice,,,,,, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, Secretary, any Vice 'resident, any Vice Secretary 'resident, any Vice 'resident, any Vice,, Secretary-Treasurer resident, any Vice, Treasurer resident, any Vice resident resident, any Vice resident, any Vice resident, any Vice

7 NEW YORK (Continued) Spring Valley Suffern Syracuse Syracuse Troy Troy Tuckahoe Utica Valley Stream Warsaw Watertown Watertown Watertown Watervliet White Plains White Plains White Plains Yonkers Yonkers Yonkers The First National Bank of Spring Valley.... The Suffern National Bank and Trust Company Lincoln National Bank and Trust Company of Syracuse The Merchants National Bank & Trust Company of Syracuse The National City Bank of Troy The Union National Bank of Troy The First National Bank & Trust Company of Tuckahoe The Oneida National Bank and Trust Company of Utica Valley Stream National Bank and Trust Company Wyoming County Bank and Trust Company The Jefferson County National Bank of Watertown The Nthern New Yk Trust Company.... The Watertown National Bank The National Bank of Watervliet The Citizens Bank of White Plains, N. Y The County Trust Company The Peoples National Bank and Trust Company of White Plains Central National Bank of Yonkers First National Bank in Yonkers The Yonkers National Bank and Trust Company, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, any Vice, Secretary and Treasurer, any Vice, any Vice, any Vice, any Vice Chairman of the Board of Directs,, any Vice, any Vice, any Vice Bronx Brooklyn Manhattan Queens Bayside Far Eockaway Flushing Fest Hills Jamaica Woodside Eiehmond Pt Richmond Tottenville NEW YORK CITY The National Bronx Bank of New Yk. The Bensonhurst National Bank of Brooklyn in New Yk The Kingsbo National Bank of Brooklyn in New Yk Lafayette National Bank of Brooklyn in New Yk The Peoples National Bank of Brooklyn in New Yk The Amalgamated Bank of New Yk Bank of Yktown Clinton Trust Company. Colonial Trust Company The Dunbar National Bank of New Yk. Federation Bank and Trust Company The Merchants Bank of New Yk The National Safety Bank and Trust Company of New Yk Pan American Trust Company The Pennsylvania Exchange Bank Trade Bank of New Yk The Bayside National Bank of New Yk. The National Bank of Far Eockaway Flushing National Bank in New Yk United National Bank of Long Island in New Yk The Jamaica National Bank of New Yk. The Woodside National Bank of New Yk Staten Island National Bank & Trust Company of New Yk The Tottenville National Bank, any Vice, any Vice, any Vice Any Direct,, any Vice,, any Vice, any Vice, any Vice Assistant, any Vice, any Vice, any Vice, any Vice Vice and, any Vice, any Vice, any Vice

8 FEDERAL RESERVE BANK OF NEW YORK Nomination f Class A Direct, 1938 Term Ending December 31, 1938 DISTRICT NO. 2 GROUP NO. 2 At a meeting of the Board of Directs of the (Name of Bank) of duly called and held on the day (City Town and Staje) of 1938, on motion duly made and seconded, it was "RESOLVED, That ~, of whose occupation is, be, and he is hereby, nominated by this bank as a candidate f direct of class A of the Federal Reserve Bank of New Yk f the term ending December 31, 1938, and the cashier other officer of this bank is hereby authized, empowered and directed to send a certified copy of this resolution to the Chairman of the Board of Directs of the Federal Reserve Bank of New Yk." I hereby certify that the fegoing is a true and crect copy of a resolution of the Board of Directs of this bank duly adopted on the date specified. (SEAL OF BANK) (Official signature) To MR. OWEN D. YOUNG, CHAIRMAN OF THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF NEW YORK.

9 FEDERAL RESERVE BANK OF NEW YORK April 11, To the Member Bank in Group 2 Addressed: Reference is made to circular No. 1833, dated April 11, 1938, a copy of which is enclosed, regarding nomination and election of a direct of the Federal Reserve Bank of New Yk, Each member bank has heretofe been requested to designate, by title only, several officers to"cast the vote of the member bank in elections of class A and class B directs of this bank. This unifm plan of designation was f the purpose of avoiding the inconvenience incident to the designation of a single officer both by name and title, which made necessary the adoption of a new resolution in the event of his promotion resignation if f some other reason he was unable to cast the vote. As our recds do not indicate that your bank has adopted a resolution designating officers by title only, I am enclosing two copies of a fm of such resolution, with the request that this fm of resolution be adopted by the board of directs and that a certified copy be sent to me. Encs. Owen D, Young, Chairman of the Board.

10 FEDERAL RESERVE BANK OF NEW YORK Designation of of Member Bank in Elections of Directs of Federal Reserve Bank of New Yk DISTRICT NO. 2 At a meeting of the Board of Directs of the (Name and Location of Bank) duly called and held on the day of, 193, on motion duly made and seconded, it was "RESOLVED, That the president, any vice president, the cashier of this bank, (If designation of some officer not included in those mentioned is desired, insert his title only here) of this bank, be and any one of them is hereby authized, empowered and directed to cast the vote of this bank f class A and class B directs of the Federal Eeserve Bank of New Yk, in accdance with the provisions of section 4 of the Federal Reserve Act, as amended. "RESOLVED FURTHER, That the authity hereby granted shall continue in fce until revoked by the Board of Directs of this bank and that such authity heretofe conferred on any officer of this bank is hereby revoked.'' I hereby certify that the fegoing is a true and crect copy of a resolution of the Board of Directs of this bank, duly adopted on the date specified. Dated the dav of 193 (Official signature) (SEAL OF BANK) (Title) To CHAIRMAN OF THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF NEW YORK.

11 MR. OWEN D. YOUNG, Chairman, Board of Directs, Federal Reserve Bank of New Yk, New Yk, N. Y.