41518_1950-1954

FEDERAL RESERVE SYSTEM 101

DIRECTORS A N D SENIOR OFFICERS OF FEDERAL RESERVE BANKS

[December 31, 1950]

CHAIRMEN AND DEPUTY CHAIRMEN OF BOARDS OF DIRECTORS

Federal Reserve Bank of—

Boston

New York

Philadelphia

Cleveland , ,

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas City

Dallas

San Francisco

Chairman and[Federal Reserve Agent

Albert M. Creighton

Robert T. Stevens

Warren F. Whittier

George C. Brainard

Charles P, McCormick

Frank H.Neely

F. J. Lunding

Russell L. Dearmont

Roger B. Shepard

Robert B. Caldwell

J. R. Parten

Bray ton Wilbur

Deputy Chairman

Harold D. Hodgkinson

William I. Myers

C. Canby Balderston

A. Z, Baker

John B. Woodward, Jr.

Rufus C. Harris

John S. Coleman

Wm. H. Bryce

W. D. Cochran

Robert L. Mehornay

R. B. Anderson

Harry R. Wellman

CONFERENCE OF CHAIRMEN

The Chairmen of the Federal Reserve Banks are organized into a Conference of Chairmenwhich meets from time to time to consider matters of common interest, and to consult withand advise the Board of Governors.

Mr. Stevens, Chairman of the Federal Reserve Bank of New York, was elected Chairmanof the Conference and of the Executive Committee in January 1950 and served during theyear 1950. The other members of the Executive Committee, Mr. McCormick, Chairmanof the Federal Reserve Bank of Richmond, and Mr. Lunding, Chairman of the FederalReserve Bank of Chicago, also were elected in January 1950 and served during the year 1950.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1950

102 ANNUAL REPORT OF BOARD OF GOVERNORS

DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Deo. 31, 1950-Cont.

DIRECTORS

Class A and Class B directors are elected by the member banks of the district. Class Cdirectors are appointed by the Board of Governors of the Federal Reserve System.

The Class A directors are chosen as representatives of member banks and, as a matterof practice, are active officers of member banks, The Class B directors may not, underthe law, be officers, directors, or employees of banks. At the time of their election theymust be actively engaged in their district in commerce, agriculture, or some other industrialpursuit.

The Class C directors may not, under the law, be officers, directors, employees, or stock-holders of banks. They are appointed by the Board of Governors as representatives not ofany particular group or interest, but of the public interest as a whole.

Federal Reserve Bank branches have either five or seven directors, of whom a majorityare appointed by the Board of Directors of the parent Federal Reserve Bank and the othersare appointed by the Board of Governors of the Federal Reserve System.

District No. 1—BostonTerm

ExpiresDec. 31

DIRECTORS

Class A:Allan Forbes Chairman of the Board, State Street Trust Company,

Boston, Mass 1950Russell H. Britton Executive Vice President and Cashier, First National

Bank of Rochester, Rochester, N. H 1951Earle W. Stamm President, The National Bank of Commerce of New

London, New London, Conn 1952

Class B:Philip R. Allen Director, Bird & Son, inc., E. Walpole, Mass 1950Frederick S. Blackall, jr President and Treasurer, The Taft-Peirce Manufac-

turing Company, Woonsocket, R. 1 1951Roy L. Patrick President, Rock of Ages Corporation, Burlington, Vt. 1952

Class C.-Albert M. Creighton Chairman of the Board 1950Ames Stevens President, Ames Worsted Company, Lowell, Mass.. . 1951Harold D. Hodgkinson Vice President, General Manager and Chairman of

Management Board, Wm. Filene's Sons Company,Boston, Mass 1952

District No. 2—New YorkClass A:

Frederic E. Worden Chairman of the Board, and President, The NationalBank of Auburn, Auburn, N. Y 1950

Roger B. Prescott President, The Keeseville National Bank, Keeseville,N.Y 1951

John C. Traphagen Chairman of the Board, Bank of New York and FifthAvenue Bank, New York, N. Y 1952

Class B.-Marion B. Folsom Treasurer and Director, Eastman Kodak Company,

Rochester, N. Y 1950Jay E. Crane Director, Standard Oil Company (New Jersey), New

York, N. Y 1951Lewis H. Brown Chairman of the Board, Johns-Manville Corporation,

New York, N. Y 1952


1950


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Dec. 31, 1950-Cont.

TermExpiresDec. 31

DIRECTORS Cont.

Class C.-Robert T. Stevens Chairman of the Board, J. P. Stevens and Company,

Inc., New York, N. Y 1950William I. Myers Dean, New York State College of Agriculture, Cornell

University, Ithaca, N. Y 1951Robert P. Patterson Member of the firm of Patterson, Belknap and Webb,

Attorneys at Law, New York, N. Y 1952

Buffalo Branch

Appointed by Federal Reserve Ban\:Clyde C. Brown President, The Cuba National Bank, Cuba, N. Y 1950George G. Kleindinst President, Liberty Bank of Buffalo, Buffalo, N. Y 1951George F. Bates President, Power City Trust Company, Niagara Falls,

N. Y 1952Bernard E. Finucane President, Security Trust Company of Rochester, Roch-

ester, N. Y 1952

Appointed by Board of Governors:Lewis B. Swift President, Taylor Instrument Companies, Rochester,

N. Y 1950Carl G. Wooster Farmer, Union Hill, N. Y 1951Edgar F. Wendt President, Buffalo Forge Company, Buffalo, N. Y 1952

District No. 3—PhiladelphiaClass A:

Archie D. Swift Chairman of the Board, Central-Penn National Bank,Philadelphia, Pa 1950

George W. Reily President, Harrisburg National Bank, Harrisburg, Pa. 1951J. Nyce Patterson President, Watson town National Bank, Watsontown,

Pa 1952Class B.-

Walter H. Lippincott President and Director, Lobdell Company, Wilming-ton, Del 1950

Albert G. Frost Chairman of the Board, The Esterbrook Pen Com-pany, Camden, N. J 1951

William J. Meinel President and General Manager, Heintz Manufactur-ing Company, Philadelphia, Pa 1952

Class C:C. Canby Balderston Dean, Wharton School of Finance and Commerce,

University of Pennsylvania, Philadelphia, Pa 1950Vacancy 1951Warren F. Whittier Agricultural Consultant, Chester Springs, Pa 1952

District No. 4—ClevelandClass A:

John T. Rohr President, The Toledo Trust Company, Toledo, Ohio 1950Ben R. Conner President, The First National Bank of Ada, Ada, Ohio 1951John D. Bainer President, The Merchants National Bank and Trust

Company of Meadville, Meadville, Pa 1952Class B:

C.L.Austin Executive Vice President, Jones & Laughlin SteelCorporation, Pittsburgh, Pa 1950

Joel M. Bowlby Chairman of the Board, The Eagle-Picher Company,Cincinnati, Ohio 1951

Edward C. Doll President, Lovell Manufacturing Company, Erie, Pa... 1952


1950


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Deo. 31, 1950-Cent.

TermExpiresDec. 31

DIRECTORS—Cont.

Class C:A. Z, Baker Chairman of the Board, The Cleveland Union Stock

Yards Company, Cleveland, Ohio 1950Leo L. Rummell Dean, College of Agriculture, The Ohio State Uni-

versity, Columbus, Ohio 1951George C. Brainard President and General Manager, Addressograph-Multi-

graph Corporation, Cleveland, Ohio 1952

Cincinnati BranchAppointed by Federal Reserve Ban\:

Walter H. J. Behm President, The Winters National Bank and TrustCompany of Dayton, Dayton, Ohio 1950

Spears Turley Vice President and Trust Officer, State Bank and TrustCompany of Richmond, Kentucky, Richmond, Ky. 1951

Joseph B. Hall President, Kroger Company, Cincinnati, Ohio 1951Sterling B. Cramer First Vice President, The Fifth Third Union Trust

Company, Cincinnati, Ohio 1952

Appointed by Board of Governors:Paul G. Blazer Chairman of the Board, Ashland Oil & Refining Com-

pany, Ashland, Ky 1950Ernest H. Hahne President, Miami University, Oxford, Ohio 1951H. C. Besuden Farmer, Winchester, Ky 1952

Pittsburgh Branch

Appointed by Federal Reserve Ban\:T. C. Swarts Executive Vice President, Woodlawn Trust Company,

Aliquippa, Pa 1950Laurence S. Bell Executive Vice President, The Union National Bank

of Pittsburgh, Pittsburgh, Pa 1951Montfort Jones Professor of Finance, The University of Pittsburgh,

Pittsburgh, Pa 1951John Barclay, Jr President, Barclay-Westmoreland Trust Company,

Greensburg, Pa 1952

Appointed by Board of Governors:Josiah M. Koch Vice President, Quaker State Oil Refining Corpora-

tion, Oil City, Pa 1950A. H. Burchfield President and General Manager, Joseph Home Com-

pany, Pittsburgh, Pa 1951Sidney A. Swensrud President, Gulf Oil Corporation, Pittsburgh, Pa 1952

District No. 5—RichmondClass A:

John A. Sydenstricker Cashier, First National Bank in Marlinton, Marlin-ton, W. Va 1950

James D. Harrison President, First National Bank of Baltimore, Balti-more, Md 1951

Warren S. Johnson. . . . . . . . .President, Peoples Savings Bank & Trust Company,Wilmington, N. C 1952

Class B:Cary L. Page President and Treasurer, Jackson Mills, Wellford,

S. C 1950Vacancy 1951H. L. Rust, Jrf President, H. L. Rust Company, Washington, D. C t , , 1952


1950


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Dee, 31, 1950-Cont.

TermExpiresDec. 31

DIRECTORS Cont.

Class C.-Charles P. McCormick President and Chairman of Board, McCormick &

Company, Inc., Baltimore, Md 1950W. G. Wysor Management Counsel, Southern States Cooperative,

Inc., Richmond, Va 1951John B. Woodward, Jr President and General Manager, Newport News Ship-

building and Dry Dock Company, Newport News,Va 1952

Baltimore Branch

Appointed by Federal Reserve Ban\:W. Bladen Lowndes President, Fidelity Trust Company, Baltimore, Md.. . 1950Charles A. Piper President, Liberty Trust Company, Cumberland, Md. 1951Eugene G. Grady President, The Western National Bank of Baltimore,

Baltimore, Md 1952Lacy I. Rice President, The Old National Bank, Martinsburg,

W. Va 1952

Appointed by Board of Governors:James M. Shriver President, The B. F. Shriver Company, Westminster,

Md. 1950James E. Hooper Vice President, William E. Hooper & Sons Company,

Baltimore, Md 1951L. Vinton Hershey President and General Manager, Hagerstown Shoe

Company, Hagerstown, Md 1952

Charlotte Branch

Appointed by Federal Reserve Ban\:N. S. Calhoun President, Security National Bank, Greensboro, N. C. 1950Thomas J. Robertson President, The First National Bank of South Carolina,

Columbia, S. C 1951George S. Crouch President, Union National Bank, Charlotte, N. C 1952Jonathan Woody President, First National Bank, Waynesville, N. C . . . 1952

Appointed by Board of Governors:R. E. Ebert President, Dixie Home Stores, Inc., Greenville S. C.. . 1950R. Flake Shaw Executive Vice President, North Carolina Farm Bureau

Federation, Greensboro, N. C 1951W. A. L. Sibley Vice President and Treasurer, Monarch Mills, Union,

S. C 1952

District No. 6—AtlantaClass A:

George J. White President, The First National Bank of Mount Dora,Mount Dora, Fla 1950

R. C. Williams President, The First National Bank of Atlanta, At-lanta, Ga 1951

Leslie R. Driver President, The First National Bank in Bristol, Bristol,Tenn 1952

Class B:A. B. Freeman Chairman of the Board, Louisiana Coca-Cola Bottling

Company, Ltd., New Orleans, La 1950J. A. McCrary Vice President and Treasurer, J. B. McCrary Com-

pany, Inc., Atlanta, Ga 1951Donald Comer Chairman of the Board, Avondale Mills, Birmingham,

Ala 1952


1950


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Deo. 31, 1950-Cont.

TermExpiresDec. 31

DIRECTORS—Cont.

Class C.-Frank H. Necly Chairman of the Board, Rich's, Inc., Atlanta, Ga 1950Paul E. Reinhold President, Foremost Dairies, Inc., Jacksonville, Fla.. . . 1951Rufus C. Harris President, The Tulane University of Louisiana, New

Orleans, La 1952

Birmingham Branch

Appointed by Federal Reserve Ban\:W. C. Bowman Chairman of the Board, The First National Bank of

Montgomery, Montgomery, Ala 1950D. C. Wadsworth President, The American National Bank of Gadsden,

Gadsden, Ala 1951J. B. Barnett President, The First National Bank of Monroeville,

Monroeville, Ala 1952A. M. Shook President, Security Commercial Bank, Birmingham,

Ala 1952

Appointed by Board of Governors:John M. Gallalee President, University of Alabama, Tuscaloosa, Ala.. . 1950Wm. Howard Smith President, McQueen-Smith Farms, Prattville, Ala 1951Thad Holt President and Treasurer, Voice of Alabama, Inc., Bir-

mingham, Ala 1952

Jacksonville Branch

Appointed by Federal Reserve Ban\:J. W. Shands President, The Atlantic National Bank of Jacksonville,

Jacksonville, Fla 1950J. D. Camp President, Broward National Bank of Fort Lauderdale,

Fort Lauderdale, Fla 1951N. Ray Carroll President, The First National Bank of Kissimmee,

Kissimmee, Fla 1952J. E. Bryan President, Union Trust Company, St. Petersburg, Fla. 1952

Appointed by Board of Governors:Marshall F. Howell Vice President, Bond-Howell Lumber Co., Jackson-

ville, Fla 1950J. Hillis Miller President, University of Florida, Gainesville, Fla 1951Howard Phillips Vice President and General Manager, Dr. P. Phillips

Company, Orlando, Fla 1952

Nashville Branch

Appointed by Federal Reserve Ban\:W. H. Hitchcock President, First and Peoples National Bank, Gallatin,

Tenn 1950Parkes Armistead President, The American National Bank of Nashville,

Nashville, Tenn 1951T. L. Cathey President, Peoples and Union Bank, Lewisburg, Tenn. 1952Thomas D. Brabson President, The First National Bank of Greeneville,

Greeneville, Tenn 1952

Appointed by Board of Governors:C. E. Brehm President, University of Tennessee, Knoxville, Tenn. 1950H. C. Meacham Agriculture and livestock, Franklin, Tenn 1951W. Bratten Evans President, Tennessee Enamel Manufacturing Company,

Nashville, Tenn 1952


1950



TermExpiresDec. 31

DIRECTORS Cont.

New Orleans Branch

Appointed by Federal Reserve Ban\:T. J. Eddins President, Bank of Slidell, Slidell, La 1950James C. Bolton President, Rapides Bank and Trust Company in Alex-

andria, Alexandria, La 1951Elbert E. Moore President, Louisiana National Bank of Baton Rouge,

Baton Rouge, La 1952Percy H. Sitges President, Louisiana Savings Bank & Trust Com-

pany, New Orleans, La 1952

Appointed by Board of Governors:H. G, Chalkley, Jr President, Sweet Lake Land & Oil Company, Inc.,

Lake Charles, La 1950John J. Shaffer, Jr Agriculture and farm machinery, Ellendale, La 1951E. O. Batson President, Batson-McGehee Company, Inc., Millard,

Miss 1952

District No. 7—ChicagoClass A:

Vivian W. Johnson President, First National Bank, Cedar Falls, Iowa 1950Walter J. Cummings Chairman, Continental Illinois National Bank and

Trust Company of Chicago, Chicago, 111 1951Horace S. French President, The Manufacturers National Bank of Chi-

cago, Chicago, 111 1952Class B:

Nicholas H. Noyes Chairman, Finance Committee, Eli Lilly and Com-pany, Indianapolis, Ind 1950

Wm. C. Heath President, A. O. Smith Corporation, Milwaukee, Wis. 1951William J. Grede President, Grede Foundries, Inc., Milwaukee, Wis 1952

Class C.-Allan B. Kline President, American Farm Bureau Federation, Chi-

cago, 111 1950F. J. Lunding Chairman of the Executive Committee, Jewel Tea

Company, Inc., Barrington, 111 1951John S. Coleman President, Burroughs Adding Machine Company, De-

troit, Mich 1952

Detroit BranchAppointed by Federal Reserve Ban\:

Chas. A. Kanter Chairman, The Manufacturers National Bank of De-troit, Detroit, Mich 1950

John A. Stewart Vice President and Cashier, Second National Bank &Trust Company, Saginaw, Mich 1950

Chas. T. Fisher, Jr President, The National Bank of Detroit, Detroit,Mich 1951

Appointed by Board of Governors:Ernest Gilbert Farmer, Waldron, Mich 1950Ben R. Marsh Chairman of the Board, Michigan Bell Telephone

Company, Detroit, Mich 1951

District No. 8—St. LouisClass A:

Tom K. Smith Chairman of Board, Boatmen's National Bank, St.Louis, Mo 1950


1950



TermExpiresDec. 31

DIRECTORS Cont.

Phil E. Chappell President, Planters Bank & Trust Company, Hopkins-villc, Ky 1951

J. E. Etherton President, Carbondale National Bank, Carbondale, 111. 1952

Class B.-Louis Ruthenburg Chairman of Board and Chief Executive Officer,

Servel, Inc., Evansville, Ind 1950M. Moss Alexander President, Missouri Portland Cement Company, St.

Louis, Mo 1951Ralph E. Plunkett President, Plunkett-Jarrell Grocer Company, Little

Rock, Ark 1952

Class C:Wm. H. Bryce Vice President and Director, Dixie Wax Paper Com-

pany, Memphis, Tenn 1950Joseph H. Moore Farming, Charleston, Mo 1951Russell L. Dearmont Chief Counsel for Trustee, Missouri-Pacific Lines,

St. Louis, Mo 1952

Little Rock BranchAppointed by Federal Reserve Ban\:

Geo. S. Neal President, Bank of Russellville, Russellville, Ark 1950Lloyd Spencer President, First National Bank, Hope, Ark 1951Thos. W. Stone Executive Vice President, The Arkansas National

Bank, Hot Springs, Ark 1951Harvey C. Couch, Jr President, Union National Bank, Little Rock, Ark.. . 1952

Appointed by Board of Governors:A. Howard Stebbins, Sr Chairman of Board, Stebbins and Roberts, Inc., Little

Rock, Ark 1950Cecil C. Cox Farmer, Stuttgart, Ark 1951Stonewall J. Beauchamp President, Terminal Warehouse Company, Little Rock,

Ark 1952

Louisville BranchAppointed by Federal Reserve Ban\:

Noel Rush President, Lincoln Bank and Trust Company, Louis-ville, Ky 1950

H. Lee Cooper President, Ohio Valley National Bank, Henderson, Ky. 1951Ira F. Wilcox Cashier and Director, The Union National Bank, New

Albany, Ind 1951A. C. Voris President, Citizens National Bank, Bedford, Ind 1952

Appointed by Board of Governors:Alvin A. Voit President, Mengel Company, Louisville, Ky 1950Vacancy 1951Smith D. Broadbent, Jr Farmer, Cadiz, Ky 1952

Memphis BranchAppointed by Federal Reserve Ban\:

W. P. Kretschmar Chairman of Board, Commercial National Bank,Greenville, Miss 1950

Norfleet Turner President, First National Bank, Memphis, Tenn 1951H. W. Hicks President, First National Bank, Jackson, Tenn 1951Ben L. Ross Chairman of the Board, Phillips National Bank,

Helena, Ark 1952


1950



TermExpiresDec. 31

DIRECTORS Coilt.

Appointed by Board of Governors:M. P. Moore Owner, Circle M Ranch, Senatobia, Miss 1950Leslie M. Stratton, Jr President, Stratton-Warren Hardware Company, Mem-

phis, Tenn 1951Hugh M. Brinkley Farmer, Hughes, Ark 1952

District No. 9—MinneapolisClass A:

J. R. McKnight Chairman of the Board, Pierre National Bank, Pierre,S. D 1950

C. W. Burges Vice President and Cashier, Security National Bank,Edgeley, N. D 1951

Arthur H. Quay. President, First National Bank, Minneapolis, Minn.. . 1952

Class B.-Walter H. McLeod President, Missoula Mercantile Company, Missoula,

Mont 1950Ray C. Lange President, Chippewa Canning Company, Chippewa

Falls, Wis 1951Homer P. Clark Chairman of the Board, West Publishing Company,

St. Paul, Minn 1952

Class C.-Roger B. Shepard St. Paul, Minn 1950Paul E. Miller Director of Agricultural Extension Division, Uni-

versity of Minnesota, St. Paul, Minn. 1951W. D. Cochran G. M. C. Truck Distributor, Iron Mountain, Mich 1952

Helena Branch

Appointed by Federal Reserve Ban\:Theodore Jacobs President, First National Bank, Missoula, Mont 1950E. D. MacHaffie Investments, Helena, Mont 1950B. M. Harris President, Yellowstone Bank, Columbus, Mont 1951

Appointed by Board of Governors:John E. Corette, Jr Vice President and Assistant General Manager, Mon-

tana Power Company, Butte, Mont 1950W. A. Denecke Livestock rancher, Bozeman, Mont 1951

District No. 10—Kansas CityClass A:

W. L. Bunten Executive Vice President, Goodland State Bank, Good-land, Kan 1950

T. A. Dines Chairman of the Board, United States National Bank,Denver, Colo 1951

M. A. Limbocker Chairman of the Board and President, Citizens Na-tional Bank, Emporia, Kan 1952

Class B:L. C. Hutson Chairman of the Board, Chickasha Cotton Oil Com-

pany, Chickasha, Okla 1950Willard D. Hosford Vice President, John Deere Plow Company, Omaha,

Neb 1951E. M. Dodds President, United States Cold Storage Corporation,

Kansas City, Mo 1952


1950



TermExpiresDec. 31

DIRECTORS Cont.

Class C.-Robert L. Mehornay President, Mehornay Furniture Company, Kansas City,

Mo 1950Lyle L. Hague Farmer and stockman, Cherokee, Okla 1951Robert B. Caldwell Caldwell, Downing, Noble and Garrity, Kansas

City, Mo 1952

Denver Branch

Appointed by Federal Reserve Ban\:J. D. Allen President, The First National Bank of Eagle County,

Eagle, Colo 1950Albert K. Mitchell Rancher, Albert, N. M 1950P. K. Alexander Vice President, The First National Bank of Denver,

Denver, Colo 1951

Appointed by Board of Governors:G. Norman Winder Rancher, Craig, Colo 1950Cecil Puckett Dean, College of Business Administration, University

of Denver, Denver, Colo 1951

Oklahoma City BranchAppointed by Federal Reserve Ban%:

F. M. Overstreet President, First National Bank at Ponca City, PoncaCity, Okla 1950

Frank A. Sewell Chairman of the Board and President, Liberty Na-tional Bank, Oklahoma City, Okla 1950

S. A. Bryant President, The Farmers National Bank, Cushing,Okla 1951

Appointed by Board of Governors:Rufus J. Green Rancher and farmer, Duncan, Okla 1950Cecil W. Cotton President, C. W. Cotton Supply Company, Tulsa,

Okla 1951

Omaha Branch

Appointed by Federal Reserve Ban\:Fred W. Marble President, Stock Growers National Bank, Cheyenne,

Wyo 1950I. R. Alter President, First National Bank, Grand Island, Neb.. . 1951Ellsworth Moser President, The United States National Bank of Omaha,

Omaha, Neb 1951

Appointed by Board of Governors:Fred S. Wallace Farmer, Gibbon, Neb 1950Joseph W. Seacrest Co-Publisher and Co-Editor in Chief, The Journal

Newspapers, Lincoln, Neb 1951

District No. 11—DallasClass A:

W. L. Peterson President, The State National Bank, Denison, Texas. . 1950P. P. Butler President, First National Bank in Houston, Houston,

Texas 1951J. Edd McLaughlin Vice President, Security State Bank and Trust Com-

pany, Rails, Texas 1952


1950



TermExpiresDec. 31

DIRECTORS Coilt .

Class B:W. F. Bcall President and General Manager, 3 Beall Brothers 3,

Department Stores, Jacksonville, Texas 1950J. R. Milam President, The Cooper Company, Inc., Waco, Texas. . 1951George L. MacGregor Chairman of the Board, President and General Man-

ager, Dallas Power and Light Company, Dallas,Texas 1952

Class C:G. A. Fricrson G. A. Frierson & Son, Merchants & Planters, Shreve-

port, La 1950R. B. Anderson General Manager, W. T. Waggoner Estate, Vernon,

Texas 1951J. R. Parten President, Woodley Petroleum Company, Houston,

Texas 1952

El Paso BranchAppointed by Federal Reserve Ban\:

W. H. Holcombe Executive Vice President, Security State Bank, Pccos,Texas 1950

W. S. Warnock Vice President, El Paso National Bank, El Paso, Texas 1951W. Henry Wooldridge President, Lone Star Motor Company, El Paso, Texas 1951George G. Matkin President, State National Bank, El Paso, Texas 1952

Appointed by Board of Governors:Hal Bogle Livestock feeding, farming and ranching, Dexter,

N. M 1950Dorrance D. Roderick President, Newspaper Printing Corporation (El Paso

Times and Herald Post), El Paso, Texas 1951Hiram S. Corbett President, I. Knox Corbett Lumber Company, Tucson,

Ariz. . ." 1952

Houston BranchAppointed by Federal Reserve Ban\:

R. Lee Kempner Chairman of the Executive Committee, United StatesNational Bank, Galveston, Texas 1950

O. R. Weyrich President, Houston Bank & Trust Company, Houston,Texas 1951

P. R. Hamill President, Bay City Bank & Trust Company, BayCity, Texas 1951

Melvin Rouff President, Houston National Bank, Houston, Texas.. 1952

Appointed by Board of Governors:Herbert G. Sutton T. O. Sutton and Sons, Colmesneil, Texas 1950Ross Stewart President, C. Jim Stewart & Stevenson, Inc., Houston,

Texas 1951Charles N. Shepardson Dean of Agriculture, A. & M. College of Texas, Col-

lege Station, Texas 1952

San Antonio Branch

Appointed by Federal Reserve Ban\:E. R. L. Wroe President, American National Bank, Austin, Texas. . . 1950C. L. Skaggs President, The First National Bank of Weslaco,

Weslaco, Texas 1951E. A. Baetz President, Bexar County National Bank, San Antonio,

Texas ... 1951Riley Peters Executive Vice President, First State Bank, Kerrvillc,

Texas 1952


1950



TermExpiresDec. 31

DIRECTORS Cont.

Appointed by Board of Governors:Edward E. Hale Chairman of the Department and Professor of Eco-

nomics, The University of Texas, Austin, Texas. . . 1950Henry P. Drought Attorney at Law, San Antonio, Texas 1951D. Hayden Perry Livestock farming, Robstown, Texas 1952

District No. 12—San FranciscoClass A:

Chas. H. Stewart President, Portland Trust and Savings Bank, Portland,Ore 1950

Carroll F. Byrd President, The First National Bank of Willows,Willows, Calif 1951

William W. Crocker Chairman of the Board, Crocker First National Bankof San Francisco, San Francisco, Calif 1952

Class B:St. George Holden St. George Holden Realty Company, San Francisco,

Calif 1950Reese H. Taylor President, Union Oil Company of California, Los

Angeles, Calif. 1951Walter S. Johnson President, American Box Corporation, San Francisco,

Calif 1952

Class C:Wm. R. Wallace, Jr Member of the firm of Wallace, Garrison, Norton &

Ray, Attorneys at Law, San Francisco, Calif 1950Harry R. Wellman Director, Giannini Foundation of Agricultural Eco-

nomics, University of California, Berkeley, Calif.. . 1951Brayton Wilbur President, Wilbur-Ellis Company, San Francisco, Calif. 1952

Los Angeles Branch

Appointed by Federal Reserve Ban\:M. Vilas Hubbard President, Citizens Commercial Trust and Savings

Bank of Pasadena, Pasadena, Calif 1950Frank L. King President, California Bank, Los Angeles, Calif 1950W. R. Bimson President, The Valley National Bank of Phoenix,

Phoenix, Ariz 1951

Appointed by Board of Governors:Fred G. Sherrill Vice President, J. G. Boswell Company, Los Angeles,

Calif 1950Paul H. Helms President, Helms Bakeries, Los Angeles, Calif 1951

Portland Branch

Appointed by Federal Reserve Ban\:W. W. Flint President, The First National Bank of Cottonwood,

Cottonwood, Idaho 1950Frank Wortman President, The First National Bank of McMinnville,

McMinnville, Ore 1950E. B. MacNaughton Chairman of the Board, The First National Bank of

Portland, Portland, Ore 1951

Appointed by Board of Governors:R. B. Taylor Livestock and farming, Adams, Ore 1950Aaron M. Frank President, Meier & Frank Company, Inc., Portland,

Ore 1951


1950



TermExpiresDec. 31

DIRECTORS Cpnt.Salt Lake City Branch

Appointed by Federal Reserve Ban\:Chas. L. Smith Chairman of the Board, First Security Bank of Utah,

National Association, Salt Lake City, Utah 1950John A. Schoonover President, The Idaho First National Bank, Boise,

Idaho 1950D. F. Richards President, American National Bank of Idaho, Idaho

Falls, Idaho 1951

Appointed by Board of Governors:Merle G. Hyer Livestock and farming, Lewiston, Utah. 1950Frank M. Browning President, Ogden Buick Sales Company, Ogden, Utah 1951

Seattle BranchAppointed by Federal Reserve Ban\:

Fred C. Forrest, Chairman of the Board and President, The FirstNational Bank of Pullman, Pullman, Wash 1950

Benj. N. Phillips Chairman of the Board, First National Bank in PortAngeles, Port Angeles, Wash 1950

Lawrence M. Arnold Chairman of the Board, Seattle-First National Bank,Seattle, Wash 1951

Appointed by Board of Governors:John M. McGregor President, McGregor Land & Livestock Company,

Hooper, Wash 1950Howard H. Preston Professor of Money and Banking, College of Business

Administration, University of Washington, Seattle,Wash 1951


1950


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS,Dec. 31, 1950—Cont.

SENIOR OFFICERS OF FEDERAL RESERVE BANKS

[December 31, 1950]

Federal ReserveBank of—

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas City

Dallas

San Francisco

PresidentFirst Vice President

Joseph A. EricksonWilliam Willett

Allan SproulL. R. Rounds

Alfred H. WilliamsW. J. Davis

Ray M. GidneyWm. H. Fletcher

Hugh LeachJ. S. Waldenjr.

W. S. McLarinJr.L. M. Clark

C. S. YoungE. C. Harris

Chester C. DavisF. Guy Hitt

J. N. PeytonA. W. Mills

H. G. LeedyHenry O. Koppang

R. R. GilbertW. D. Gentry

C. E. EarhartH. N. Mangels

Vice

John J. FoggRobert B. Harvey1

E. G. HultE. O. LathamH. A. BilbyH. H. KimballL. W. KnokeWalter S. LoganA. PhelanKarl R. BoppL. E. DonaldsonRobert N. HilkertRoger R. ClouseW. D. FultonJ. W. Kossin

N. L. ArmisteadR. L. CherryR. W. Mercer2

W. R. MilfordP. L. T. BeaversV. K. BowmanJ. E. Denmark

Allan M. Black1

H. J. ChalfontNeil B. DawesW. R. DiercksO. M. AtteberyWm. E. PetersonC. A. SchachtH. C. CoreC. W. GrothE. B. LarsonL. H. EarhartDelos C. JohnsR. L. Mathes

E. B. AustinR. B. ColemanH. R. DeMossW. E. Eagle

J. M. LeisnerS. A. MacEachronE. R. MillardW. L. Partner

Presidents

Alfred C. NealCarl B. PitmanO. A. SchlaikjerR. F. Van AmringeH. V. RoelseRobert G. RouseWilliam F. TreiberV. WillisR. B. WiltseE. C. HillWm. G. McCreedyP. M. Poorman2

A. H. Laning2

Martin MorrisonPaul C. StetzelbergerDonald S. ThompsonC. B. StrathyK. Brantley WatsonEdw. A. WayneChas. W. WilliamsJoel B. Fort, Jr.T. A. LanfordE. P. ParisS. P. SchuesslerJohn K. LangumA. L. OlsonAlfred T. SihlerW. W. TurnerPaul E. SchroederWilliam H. SteadC. M. StewartH. G. McConnellOtis R. PrestonSigurd UelandJohn Phillips, Jr.G. H. PipkinC. E. Sandy1

D. W. WoolleyW. H. HollowayWatrous H. IronsL. G. Pondrom2

C. M. RowlandMac C. SmythH. F. SladeRonald T. Symms2

W. F. VolbergO. P. Wheeler

1 Cashier.a Also Cashier.


1950



VICE PRESIDENTS IN CHARGE OF BRANCHES OF FEDERAL RESERVE BANKS

Federal Reserve Bank of— Branch Chief Officer

New York...Cleveland

Richmond

Atlanta

ChicagoSt. Louis

Minneapolis..Kansas City..

Dallas

San Francisco

BuffaloCincinnatiPittsburghBaltimoreCharlotteBirminghamJacksonvilleNashvilleNew OrleansDetroitLittle RockLouisvilleMemphisHelenaDenverOklahoma CityOmahaEl PasoHoustonSan AntonioLos AngelesPortlandSalt Lake CitySeattle

I. B. Smith1

W. D. FultonJ. W. KossinW. R. MilfordR. L. CherryP. L. T. BeaversT. A. LanfordJoel B. Fort, Jr.E. P. ParisH. J. ChalfontC. M. StewartC. A. SchachtPaul E. SchroederC. W. GrothG. H. PipkinR. L. MathesL. H. EarhartC. M. RowlandW. H. HollowayW. E. EagleW. F. VolbergS. A. MacEachronW. L. PartnerJ. M. Leisner

1 General Manager.

CONFERENCE OF PRESIDENTS

The Presidents of the Federal Reserve Banks are organized into a Conference of Presidentswhich meets from time to time to consider matters of common interest, and to consultwith and advise the Board of Governors.

Mr. Davis, President of the Federal Reserve Bank of St. Louis, and Mr. Peyton, Presidentof the Federal Reserve Bank of Minneapolis, were elected as Chairman of the Conferenceand Vice Chairman, respectively, at the meeting held in February 1948 and served as suchthrough the meeting held in February 1950 when Mr. Peyton was elected Chairman of theConference and Mr. Leach, President of the Federal Reserve Bank of Richmond, was electedVice Chairman.

Mr. Charles G. Young, Jr., Counsel of the Federal Reserve Bank of St. Louis, who hadbeen serving as Secretary of the Conference since May 1948, resigned effective January 1,1950, and was succeeded by Mr. Frederick L. Deming, Assistant Vice President of theFederal Reserve Bank of St. Louis. Mr. Deming served until the meeting in June 1950at which time Mr. Clement Van Nice, Assistant Cashier of the Federal Reserve Bankof Minneapolis, was appointed Secretary of the Conference.


1950

DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS

[December 31, 1951]



Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas City

Dallas

San Francisco

Chairman andFederal Reserve Agent


Robert T. Stevens

Warren F. Whittier

George C. Brainard

Charles P. McCormick

Frank H. Neely

F. J. Lunding

Russell L. Dearmont

Roger B. Shepard

Robert B. Caldwell

J. R. Parten

Brayton Wilbur

Deputy Chairman

Ames Stevens

William I. Myers

C. Canby Balderston

John C Virden


Rufus C. Harris

John S. Coleman

Wm. H. Bryce

(Vacancy)

(Vacancy)

R. B. Anderson

Harry R. Wellman


The Chairmen of the Federal Reserve Banks are organized into a Conference of Chairmenwhich meets from time to time to consider matters of common interest and to consult withand advise the Board of Governors.

Mr. Stevens, Chairman of the Federal Reserve Bank of New York, was elected Chairmanof the Conference and of the Executive Committee in January 1950 and served as such untilMay 1951. The other members of the Executive Committee, Mr. McCormick, Chairman ofthe Federal Reserve Bank of Richmond, and Mr. Lunding, Chairman of the Federal ReserveBank of Chicago, also were elected in January 1950 and served until May 1951.

At the meeting held in May 1951, Mr. Wilbur, Chairman of the Federal Reserve Bankof San Francisco, was elected Chairman of the Conference and of the Executive Committee.Mr. Lunding was re-elected as a member of the Executive Committee and Mr. Whittier,Chairman of the Federal Reserve Bank of Philadelphia, was elected as the other memberof the Executive Committee.

113Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1951



DIRECTORS


The Class A directors are chosen as representatives of member banks and, as a matterof practice, are active officers of member banks. The Class B directors may not, under thelaw, be officers, directors, or employees of banks. At the time of their election they mustbe actively engaged in their district in commerce, agriculture, or some other industrial pursuit.

The Class C directors may not, under the law, be officers, directors, employees, or stock-holders of banks. They are appointed by the Board of Governors as representatives notof any particular group or interest, but of the public interest as a whole.



ExpiresDIRECTORS Dec. 31

Class A:

Russell H. Britton Executive Vice President and Cashier, First NationalBank of Rochester, Rochester, N. H 1951

Earle W. Stamm President, The National Bank of Commerce of NewLondon, New London, Conn 1952

Lloyd D. Brace President, The First National Bank of Boston, Boston,Mass 1953

Class B.-Frederick S. Blackall, jr President and Treasurer, The Taft-Peirce Manufactur-

ing Company, Woonsocket, R. 1 1951Roy L. Patrick President, Rock of Ages Corporation, Burlington, Vt. 1952Harvey P. Hood President, H. P. Hood & Sons, Inc., Boston, Mass 1953

Class C.-

Ames Stevens President, Ames Worsted Company, Lowell, Mass.... 1951Harold D. Hodgkinson Vice President, General Manager and Chairman of


Karl T. Compton Chairman of the Corporation, Massachusetts Instituteof Technology, Cambridge, Mass 1953


Roger B. Prescott President, The Keeseville National Bank, Keeseville,N. Y 1951

John C. Traphagan Chairman of the Board, Bank of New York and FifthAvenue Bank, New York, N. Y 1952

Burr P. Cleveland President, First National Bank of Cortland, Cortland,N. Y 1953

Class B:

Jay E. Crane Vice President, Standard Oil Company (New Jersey),New York, N. Y 1951

Clarence Francis Chairman of the Board, General Foods Corporation,New York, N. Y 1952

Marion B. Folsom Treasurer and Director, Eastman Kodak Company,R n r h ^ t e r . N Y .


1951



TermExpiresDec. 31

DIRECTORS Cont.

Class C.-

William I. Myers Dean, New York State College of Agriculture, CornellUniversity, Ithaca, N. Y 1951

Robert P. Patterson Member of the firm of Patterson, Belknap & Webb,Attorneys at Law, New York, N. Y 1952

Robert T. Stevens Chairman of the Board, J. P. Stevens & Company,Inc., New York, N. Y 1953

Buffalo BranchAppointed by Federal Reserve Ban\:

George G. Kleindinst President, Liberty Bank of Buffalo, Buffalo, N. Y.. . . 1951George F. Bates Vice President, Marine Trust Company of Western

New York, Power City Trust Office, Niagara Falls,N. Y 1952

Bernard E. Finucane President, Security Trust Company of Rochester,Rochester, N. Y 1952

C. Elmer Olson President, The First National Bank of Falconer, Fal-coner, N. Y 1953

Appointed by Board of Governors:

Carl G. Wooster President, Wooster Fruit Farms, Inc., Union Hill,N. Y 1951

Edgar F. Wendt President, Buffalo Forge Company, Buffalo, N. Y.. . 1952Robert C. Tait President, Stromberg-Carlson Company, Rochester,

N. Y 1953


George W. Reily President, Harrisburg National Bank, Harrisburg, Pa. 1951J. Nyce Patterson President, Watsontown National Bank, Watsontown,

Pa 1952Archie D. Swift Chairman of Board, Central-Penn National Bank,

Philadelphia, Pa 1953

Class B.-

Albert G. Frost Chairman of Board, The Esterbrook Pen Company,Camden, N. J 1951

Charles E. Oakes President and Director, Pennsylvania Power and LightCompany, Allentown, Pa 1952

Warren C. Newton President, O. A. Newton and Son Company, Bridge-ville, Del 1953

Class C.-William J. Meinel Chairman and President, Heintz Manufacturing Com-

pany, Philadelphia, Pa 1951Warren F. Whittier Agricultural Consultant, Chester Springs, Pa 1952C. Canby Balderston Dean, Wharton School of Finance and Commerce,

University of Pennsylvania, Philadelphia, Pa 1953


Ben R. Conner President, The First National Bank of Ada, Ada, Ohio 1951John D. Bainer President, The Merchants National Bank and Trust

Company of Meadville, Meadville, Pa 1952Lawrence N. Murray President, Mellon National Bank and Trust Company,

Pittsburgh, Pa 1953


1951


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Deo. 31, 1951-Ont.

TermExpiresDec. 31

DIRECTORS Cont.

Class B.-Joel M. Bowlby Chairman of the Board, The Eagle-Picher Company,

Cincinnati, Ohio 1951Edward C. Doll President, Lovell Manufacturing Company, Erie, Pa. 1952Charles J. Stilwell President, The Warner and Swasey Company, Cleve-

land, Ohio 1953

Class C.-Leo L. Rummell Dean, College of Agriculture, The Ohio State Uni-

versity, Columbus, Ohio 1951George C. Brainard President, Addressograph-Multigraph Corporation,

Cleveland, Ohio 1952John C. Virden Chairman of the Board, John C. Virden Company,

Cleveland, Ohio 1953

Cincinnati BranchAppointed by Federal Reserve Ban\:

Spears Turley Vice President and Trust Officer, State Bank andTrust Company of Richmond, Kentucky, Rich-mond, Ky 1951

Joseph B. Hall President, Kroger Company, Cincinnati, Ohio 1951Sterling B. Cramer First Vice President, The Fifth Third Union Trust

Company, Cincinnati, Ohio 1952L. M. Campbell President, Second National Bank, Ashland, Ky 1953


Ernest H. Hahne President, Miami University, Oxford, Ohio 1951H. C. Besuden Farmer, Winchester, Ky 1952Granville R. Lohnes Treasurer, National Cash Register Company, Dayton,

Ohio 1953

Pittsburgh BranchAppointed by Federal Reserve Ban\:

Laurence S. Bell Executive Vice President, The Union National Bankof Pittsburgh, Pittsburgh, Pa 1951

Montfort Jones Professor of Finance, The University of Pittsburgh,Pittsburgh, Pa 1951

John Barclay, Jr President, Barclay-Westmoreland Trust Company,Greensburg, Pa 1952

Hugo E. Laupp President, Wheeling Dollar Savings and Trust Com-pany, Wheeling, W. Va 1953


A. H. Burchfield President and General Manager, Joseph Home Com-pany, Pittsburgh, Pa 1951

Sidney A. Swensrud President, Gulf Oil Corporation, Pittsburgh, Pa 1952Henry A. Roemer, Jr President, Sharon Steel Corporation, Sharon, Pa 1953



Warren S. Johnson President, Peoples Savings Bank & Trust Company,Wilmington, N. C 1952

John A. Sydenstricker Executive Vice President and Cashier, First NationalBank in Marlinton, Marlinton, W. Va 1953


1951



TermExpiresDec. 31

DIRECTORS Cont.

Class B:

Edwin Hyde Executive Vice President, Miller & Rhoads, Inc.,Richmond, Va 1951

H. L. Rust, Jr President, H. L. Rust Company, Washington, D. C. 1952Cary L. Page President and Treasurer, Jackson Mills, Wellford, S. C. 1953

Class C:W. G. Wysor Management Counsel, Southern States Cooperative,

Inc., Richmond, Va 1951John B. Woodward, Jr President, Newport News Shipbuilding and Dry Dock

Company, Newport News, Va 1952Charles P. McCormick President and Chairman of Board, McCormick &

Company, Inc., Baltimore, Md 1953

Baltimore BranchAppointed by Federal Reserve Banhji

Charles A. Piper President, The Liberty Trust Company, Cumberland,Md 1951

Eugene G. Grady President, The Western National Bank, Baltimore, Md. 1952Lacy I. Rice President, The Old National Bank, Martinsburg,

W. Va 1952Charles W. Hoff President, Union Trust Company of Maryland, Balti-

more, Md 1953


James E. Hooper Vice President, William E. Hooper & Sons Company,Baltimore, Md 1951

L. Vinton Hershey President and General Manager, Hagerstown ShoeCompany, Hagerstown, Md 1952

James M. Shriver President, The B. F. Shriver Company, Westminster,Md 1953

Charlotte BranchAppointed by Federal Reserve Ban\:

Thomas J. Robertson President, First National Bank of South Carolina,Columbia, S. C 1951

George S. Crouch President, Union National Bank, Charlotte, N. C 1952Jonathan Woody President, First National Bank, Waynesville, N. C . . 1952A. K. Davis Senior Vice President, Wachovia Bank and Trust

Company, Winston-Salem, N. C 1953


R. Flake Shaw Executive Vice President, North Carolina FarmBureau Federation, Greensboro, N. C 1951

W. A. L. Sibley Vice President and Treasurer, Monarch Mills, Union,S. C 1952

R. E. Ebert President, Dixie Home Stores, Inc., Greenville, S. C. 1953


R. C. Williams President, The First National Bank of Atlanta,Atlanta, Ga 1951


Roland L. Adams President, Bank of York, York, Ala 1953


1951



TermExpiresDec. 31

DIRECTORS Cont.

Class B:J. A. McCrary Vice President and Treasurer, J. B. McCrary Com-

pany, Inc., Atlanta, Ga 1951Donaid Comer Chairman of the Board, Avondale Mills, Birming-

ham, Ala 1952A. B. Freeman Chairman of the Board, Louisiana Coca-Cola Bottling

Company, Ltd., New Orleans, La 1953Class C.-

Paul E. Reinhold .President, Foremost Dairies, Inc., Jacksonville, Fla.. . 1951Rufus C. Harris President, The Tulane University of Louisiana, New

Orleans, La 1952Frank H. Neely Chairman of the Board, Rich's, Inc., Atlanta, Ga.. .. 1953

Birmingham Branch

Appointed by Federal Reserve Ban\:D. C. Wadsworth President, The American National Bank of Gadsden,

Gadsden, Ala 1951J. B. Barnett President, The First National Bank of Monroevillc,

Monroeville, Ala 1952A. M. Shook President, Security Commercial Bank, Birmingham,

Ala 1952T. J. Cottingham President, State National Bank of Decatur, Decatur,

Ala 1953Appointed by Board of Governors:

Wm. Howard Smith President, McQueen-Smith Farms, Prattville, Ala.. . . . 1951Thad Holt President and Treasurer, Voice of Alabama, Inc., Bir-

mingham, Ala 1952John M. Gallalee President, University of Alabama, Tuscaloosa, Ala.. . 1953

Jacksonville BranchAppointed by Federal Reserve Ban\:

J. D. Camp President, Broward National Bank of Fort Lauder-dale, Fort Lauderdale, Fla 1951

N. Ray Carroll President, The First National Bank of Kissimmee,Kissimmee, Fla 1952

J. E. Bryan President, Union Trust Company, St. Petersburg, Fla. 1952Clement B. Chinn President, The First National Bank of Miami, Miami,

Fla 1953Appointed by Board of Governors:

J. Hillis Miller President, University of Florida, Gainesville, Fla 1951Howard Phillips Vice President and General Manager, Dr. P. Phillips

Company, Orlando, Fla 1952Marshall F. Howell Vice President, Bond-Howell Lumber Company, Jack-

sonville, Fla 1953

Nashville BranchAppointed by Federal Reserve Ban\:

Parkes Armistead President, First American National Bank of Nashville,Nashville, Tenn 1951

T. L. Cathey President, Peoples and Union Bank, Lewisburg, Tenn. 1952Thos. D. Brabson President, The First National Bank of Greeneville,

Greeneville, Tenn 1952G. C. Graves President, The First National Bank of Athens, Athens,

Tenn 1953


1951



TermExpiresDec. 31

DIRECTORS Cont.

Appointed by Board of Governors:H. C. Meacham Agriculture and livestock, Franklin, Tenn 1951W. Bratten Evans President, Tennessee Enamel Manufacturing Com-

pany, Nashville, Tenn 1952C. E. Brehm President, University of Tennessee, Knoxville, Tenn. 1953

New Orleans BranchAppointed by Federal Reserve Ban\:

James C. Bolton President, Rapids Bank & Trust Company in Alex-andria, Alexandria, La 1951

Elbert E. Moore President, Louisiana National Bank of Baton Rouge,Baton Rouge, La 1952

Percy H. Sitges President, Louisiana Savings Bank & Trust Company,New Orleans, La 1952

William C. Carter President, Gulf National Bank of Gulfport, Gulfport,Miss 1953

Appointed by Board of Governors:John J. Shaffer, Jr Agriculture and farm machinery, Ellendale, La 1951E. O. Batson President, Batson-McGehee Company, Inc., Millard,

Miss 1952H. G. Chalkley, Jr President, Sweet Lake Land & Oil Company, Inc.,

Lake Charles, La 1953


Walter J. Cummings Chairman, Continental Illinois National Bank andTrust Company of Chicago, Chicago, 111 1951

Horace S. French President, The Manufacturers National Bank of Chi-cago, Chicago, 111 1952

Vivian W. Johnson President, First National Bank, Cedar Falls, Iowa 1953Class B:

Wm. C. Heath Chief Executive Officer, A. O. Smith Corporation,Milwaukee, Wis 1951

William J. Grede President, Grede Foundries, Inc., Milwaukee, Wis 1952Nicholas H. Noyes Chairman, Finance Committee, Eli Lilly and Com-

pany, Indianapolis, Ind 1953Class C:

F. J. Lunding Chairman of the Executive Committee, Jewel TeaCompany, Inc., Chicago, 111 1951

John S. Coleman President, Burroughs Adding Machine Company,Detroit, Mich 1952

Allan B. Kline President, American Farm Bureau Federation, Chi-cago, 111 1953

Detroit BranchAppointed by Federal Reserve Ban\:

Chas. T. Fisher, Jr President, The National Bank of Detroit, Detroit,Mich 1951

John A. Stewart Vice President and Cashier, Second National Bank& Trust Company, Saginaw, Mich 1952

Howard P. Parshall President, Commonwealth Bank, Detroit, Mich 1952

Appointed by Board of Governors:William M. Day Vice President and General Manager, Michigan Bell

Telephone Company, Detroit, Mich 1951John A. Hannah President, Michigan State College, East Lansing, Mich. 1952


1951



TermExpiresDec. 31

DIRECTORS Cont.


Phil E. Chappell President, Planters Bank & Trust Company, Hopkins-ville, Ky 1951

J. E. Etherton President, Carbondale National Bank, Carbondale, 111. 1952William A. McDonnell President, First National Bank in St. Louis, St. Louis,

Mo 1953Class B:

M. Moss Alexander President, Missouri Portland Cement Company, St.Louis, Mo 1951

Ralph E. Plunkett President, Plunkett-Jarrell Grocer Company, LittleRock, Ark 1952

Louis Ruthenburg Chairman of Board, Servel, Inc., Evansville, Ind 1953Class C.-

Joseph H. Moore Farming, Charleston, Mo 1951Russell L. Dearmont Chief Counsel for Trustee, Missouri-Pacific Lines,

St. Louis, Mo 1952Wm. H. Brycc Vice President and Director, Dixie Wax Paper Com-

pany, Memphis, Tenn 1953

Little Rock BranchAppointed by Federal Reserve Ban\:

Lloyd Spencer President, First National Bank, Hope, Ark 1951Thos. W. Stone Executive Vice President, The Arkansas National

Bank, Hot Springs, Ark 1951Harvey C. Couch, Jr President, Union National Bank, Little Rock, Ark.. . 1952Gaither C. Johnston President, First National Bank, Newport, Ark 1953

Appointed by Board of Governors:Cecil C. Cox Farmer, Stuttgart, Ark 1951Stonewall J. Beauchamp.... President, Terminal Warehouse Company, Little Rock,

Ark 1952Sam B. Strauss President, Pfeifers of Arkansas, Little Rock, Ark 1953

Louisville BranchAppointed by Federal Reserve Ban\:

H. Lee Cooper President, Ohio Valley National Bank, Henderson,Ky 1951

Ira F. Wilcox Vice President and Cashier, The Union National Bank,New Albany, Ind 1951

A. C. Voris President, Citizens National Bank, Bedford, Ind 1952Noel Rush President, Lincoln Bank and Trust Company, Louis-

ville, Ky 1953Appointed by Board of Governors:

Pierre B. McBride President, Porcelain Metals Corporation, Louisville,Ky 1951

Smith D. Broadbent, Jr Farmer, Cadiz, Ky 1952Alvin A. Voit President, Mengel Company, Louisville, Ky 1953

Memphis BranchAppointed by Federal Reserve Ban\:

Norfleet Turner President, First National Bank, Memphis, Tenn 1951H. W. Hicks President, First National Bank, Jackson, Tenn 1951Ben L. Ross Chairman of Board, Phillips National Bank, Helena,

Ark 1952C. Haley Reeves President, Merchants and Farmers Bank, Columbus,

Miss 1953


1951



TermExpiresDec. 31

DIRECTORS Cont.

Appointed by Board of Governors:Leslie M. Stratton, Jr President, Stratton-Warren Hardware Company,

Memphis, Tenn 1951Hugh M. Brinkley Farmer, Hughes, Ark 1952M. P. Moore Owner, Circle M Ranch, Senatobia, Miss 1953



Vacancy 1952H. N. Thomson Vice President, Farmers and Merchants Bank, Presho,

S. D 1953Class B:

Ray C. Lange President, Chippewa Canning Company, ChippewaFalls, Wis 1951

Homer P. Clark Honorary Chairman of the Board, West PublishingCompany, St. Paul, Minn 1952

W. A. Denecke Livestock rancher, Bozeman, Mont 1953

Class C.-Paul E. Miller Director, Agricultural Extension Division, University

of Minnesota, St. Paul, Minn 1951F. A. Flodin President, Lake Shore Engineering Company, Iron

Mountain, Mich 1952Roger B. Shepard St. Paul, Minn 1953

Helena BranchAppointed by Federal Reserve Ban\:

B. M. Harris President, Yellowstone Bank, Columbus, Mont 1951Theodore Jacobs President, First National Bank, Missoula, Mont 1952E. D. MacHaffie Investments, Helena, Mont 1952

Appointed by Board of Governors:G. R. Milburn Livestock rancher, Grass Range, Mont 1951John E. Corette, Jr Vice President, Montana Power Company, Butte,

Mont 1952


T. A. Dines Chairman of the Board, The United States NationalBank of Denver, Denver, Colo 1951

W.S.Kennedy President and Chairman of the Board, The FirstNational Bank, Junction City, Kan 1952

W. L. Bunten Executive Vice President, Goodland State Bank,Goodland, Kan 1953

Class B:Vacancy 1951E. M. Dodds President, United States Cold Storage Corporation,

Kansas City, Mo 1952L. C. Hutson Director, Chickasha Cotton Oil Company, Chickasha,

Okla 1953Class C:

Lyle L. Hague Farmer and stockman, Cherokee, Okla 1951Robert B. Caldwell Caldwell, Downing, Noble and Garrity, Kansas City,

Mo 1952Vacancy 1953


1951



TermExpiresDec. 31

DIRECTORS Cont.Denver Branch

Appointed by Federal Reserve Bank:P. K. Alexander Vice President, The First National Bank of Denver,

Denver, Colo 1951Ramon B. Handy Executive Vice President, The First National Bank of

Greeley, Greeley, Colo 1952Albert K. Mitchell Rancher, Albert, N. M 1952

Appointed by Board of Governors:Cecil Puckett Dean, College of Business Administration, University

of Denver, Denver, Colo. 1951G. Norman Winder Rancher, Craig, Colo 1952

Oklahoma City Branch

Appointed by Federal Reserve Ban\:S. A. Bryant President, The Farmers National Bank of Cushing,

Cushing, Okla 1951F. M. Overstreet President, First National Bank at Ponca City, Ponca

City, Okla 1952Frank A. Sewell Chairman of the Board and President, The Liberty

National Bank and Trust Company of OklahomaCity, Oklahoma City, Okla 1952

Appointed by Board of Governors:Cecil W. Cotton President, C. W. Cotton Supply Company, Tulsa,

Okla 1951Rufus J. Green Rancher and farmer, Duncan, Okla 1952

Omaha BranchAppointed by Federal Reserve Ban\:

I. R. Alter President, The First National Bank of Grand Island,Grand Island, Neb 1951

Ellsworth Moser President, The United States National Bank ofOmaha, Omaha, Neb 1951

Fred W. Marble President, The Stock Growers National Bank ofCheyenne, Cheyenne, Wyo 1952

Appointed by Board of Governors:Joseph W. Seacrest Co-Publisher, Lincoln State Journal, Lincoln, Neb. 1951Fred S. Wallace Farmer, Gibbon, Neb 1952


P. P. Butler President, First National Bank in Houston, Houston,Tex. 1951

J. Edd McLaughlin Vice President, Security State Bank and Trust Com-pany, Rails, Tex 1952

W. L. Peterson President, The State National Bank, Denison, Tex.. . 1953

Class B.-George H. Zimmerman . . . . Chairman of the Board and President, Wm. Cameron

& Company, Waco, Tex 1951George L. MacGregor Chairman of the Board, President and General Man-

ager, Dallas Power and Light Company, Dallas,Tex 1952

W. F. Beall President and General Manager, 3 Beall Brothers 3,Department Stores, Jacksonville, Tex 1953


1951



TermExpiresDec. 31

DIRECTORS Cont.

Class C:R. B. Anderson General Manager, W. T. Waggoner Estate, Vernon,

Tex 1951J. R. Parten President, Woodley Petroleum Company, Houston,

Tex 1952G. A. Frierson G. A. Frierson & Son, Merchants and Planters,

Shreveport, La 1953

El Paso BranchAppointed by Federal Reserve Ban\:

W. S. Warnock Vice President, El Paso National Bank, El Paso, Tex. 1951W. Henry Wooldridge President, Lone Star Motor Company, El Paso, Tex. 1951George G. Matkin President, State National Bank, El Paso, Tex 1952W. H. Holcombe Executive Vice President, Security State Bank, Pecos,

Tex 1953


Dorrance D. Roderick President, Newspaper Printing Corporation (El PasoTimes and Herald Post), El Paso, Tex 1951

Hiram S. Corbett President, J. Knox Corbett Lumber Company, Tucson,Ariz 1952

Hal Bogle Livestock feeding, farming and ranching, Dexter,N. M 1953

Houston BranchAppointed by Federal Reserve Ban\:

O. R. Weyrich President, Houston Bank & Trust Company, Houston,Tex 1951

P. R. Hamill President, Bay City Bank & Trust Company, Bay City,Tex 1951

Melvin R®uff President, Houston National Bank, Houston, Tex 1952R. Lee Kempner President, United States National Bank, Galveston,

Tex 1953


Ross Stewart President, C. Jim Stewart & Stevenson, Inc., Houston,Tex 1951

Charles N. Shepardson Dean of Agriculture, A. & M. College of Texas,College Station, Tex 1952

Herbert G. Sutton T. O. Sutton and Sons, Colmesneil, Tex 1953

San Antonio Branch

Appointed by Federal Reserve Ban\:

C. L. Skaggs President, The First National Bank of Weslaco,Weslaco, Tex 1951

E. A. Baetz President, Bexar County National Bank, San Antonio,Tex 1951

Riley Peters President, First State Bank, Kerrville, Tex 1952E. R. L. Wroe President, American National Bank, Austin, Tex 1953


Henry P. Drought Attorney at Law, San Antonio, Tex 1951D. Hayden Perry Livestock farming, Robstown, Tex 1952Edward E. Hale Chairman of the Department and Professor of Eco-

nomics, The University of Texas, Austin, Tex 1953


1951



TermExpiresDec. 31

DIRECTORS Cont.District No. 12—San Francisco

Class A:Carroll F. Byrd President, The First National Bank of Willows,

Willows, Calif 1951William W. Crocker Chairman of the Board, Crocker First National Bank

of San Francisco, San Francisco, Calif 1952Chas. H. Stewart Chairman of the Board, Portland Trust and Savings

Bank, Portland, Ore 1953Class B:

Reese H. Taylor President, Union Oil Company of California, LosAngeles, Calif 1951

Walter S. Johnson President, American Forest Products Corporation, SanFrancisco, Calif 1952

Alden G. Roach President, Columbia Steel Company, San Francisco,Calif 1953

Class C.-Harry R. Wellman Director, Giannini Foundation of Agricultural Eco-

nomics, University of California, Berkeley, Calif.. . 1951Brayton Wilbur President, Wilbur-Ellis Company, San Francisco,

Calif 1952William R. Wallace, Jr Member of the firm of Wallace, Garrison, Norton &

Ray, Attorneys at Law, San Francisco, Calif 1953Los Angeles Branch

Appointed by Federal Reserve Ban\:W. R. Bimson President, The Valley National Bank of Phoenix,

Phoenix', Ariz 1951M. Vilas Hubbard President, Citizens Commercial Trust and Savings

Bank of Pasadena, Pasadena, Calif 1952Frank L. King President, California Bank, Los Angeles, Calif 1952

Appointed by Board of Governors:Paul H. Helms President, Helms Bakeries, Los Angeles, Calif 1951Fred G. Sherrill Vice President, J. G. Boswell Company, Los Angeles,

Calif 1952

Portland BranchAppointed by Federal Reserve Ban\:

E. B. MacNaughton Chairman of the Board, The First National Bank ofPortland, Portland, Ore 1951

W. W. Flint President, The First National Bank of Cottonwood,Cottonwood, Idaho 1952

Frank Wortman President, The First National Bank of McMinnville,McMinnville, Ore 1952

Appointed by Board of Governors:Aaron M. Frank President, Meier & Frank Company, Inc., Portland,

Ore 1951R. B. Taylor Livestock and farming, Adams, Ore 1952

Salt Lake City BranchAppointed by Federal Reserve Ban\:

D. F. Richards President, American National Bank of Idaho, IdahoFalls, Idaho Falls, Idaho 1951

Chas. L. Smith Chairman of the Board, First Security Bank of Utah,National Association, Salt Lake City, Utah 1952

John A. Schoonover President, The Idaho First National Bank, Boise,Idaho 1952


1951



TermExpiresDec. 31

DIRECTORS Coilt.

Appointed by Board of Governors:Frank M. Browning President, Ogden Buick Sales Company, Ogden, Utah 1951Merle G. Hyer Livestock and farming, Lewiston, Utah 1952

Seattle BranchAppointed by Federal Reserve Ban\:

Lawrence M. Arnold Chairman of the Board, Seattle-First National Bank,Seattle, Wash 1951

Fred C. Forrest Chairman of the Board and President, The FirstNational Bank of Pullman, Pullman, Wash 1952

Benj. N. Phillips Chairman of the Board, First National Bank in PortAngeles, Port Angeles, Wash 1952

Appointed by Board of Governors:Howard H. Preston Professor of Money and Banking, College of Business

Administration, University of Washington, Seattle,Wash 1951

Ralph Sundquist Fruit Grower and Cold Storage Operator, Yakima,Wash 1952


1951



SENIOR OFFICERS OF FEDERAL RESERVE BANKS

[December 31, 1951]


Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas City

Dallas

San Francisco —


J. A. EricksonAlfred C. Neal

Allan SproulL. R. Rounds


Ray M. GidneyWm. H. Fletcher

Hugh LeachJ. S. Walden, Jr.

Malcolm BryanL. M. Clark


Delos C. JohnsO. M. Attebery

J. N. PeytonA. W. Mills

H. G. LeedyHenry 0 . Koppang



Vice


E. G. Hult

H. A. BilbyH. H. KimballL. W. KnokeWalter S. LoganA. PhelanKarl R. BoppRobert N. HilkertE. C. Hill

Wilbur T. BlairRoger R. ClouseW. D. FultonJ. W. KossinN. L. ArmisteadR. L. CherryD. F. HagnerR. W. Mercer2

P. L. T. BeaversV. K. BowmanJ. E. Denmark

Allan M. BlackH. J. ChalfontNeil B. DawesW. R. DiercksW. A. HopkinsFrederick L. DemingDale M. LewisWm. E. PetersonC. A. SchachtH. C. CoreC. W. GrothE. B. Larson

L. H. EarhartR. L. MathesJohn Phillips, Jr.E. B. AustinR. B. ColemanJ. L. Cook2

W. E. EagleW. H. HollowayJ. M. LeisnerS. A. MacEachronE. R. MillardW. L. Partner

Presidents

E. O. LathamCarl B. PitmanO. A. SchlaikjerR. F. Van AmringeH. V. RoelseRobert G. RouseWilliam F. TreiberV. WillisR. B. WiltseWm. G. McCreedyP. M. PoormanJ. V. Vergari3

Richard G. Wilgus1

A. H. Laning2

Martin MorrisonPaul C. StetzelbergerDonald S. ThompsonC. B. StrathyK. Brantley WatsonEdw. A. WayneChas. W. WilliamsT. A. LanfordR. E. Moody, Jr.E. P. ParisS. P. SchuesslerL. H. Jones1

George W. MitchellA. L. OlsonAlfred T. SihlerW. W. TurnerPaul E. SchroederC. M. StewartH. H. WeigelJ. C. WotawaH. G. McConnellOtis R. PrestonM. H. Strothman, Jr.Sigurd UelandG. H. PipkinC. E. Sandy1

D. W. WoolleyWatrous H. IronsL. G. PondromC M . RowlandMac C. Smyth

H. F. SladeRonald T. Symms2

W. F. VolbergO. P. Wheeler

* Cashier. 3 Also Cashier. 8 Counsel.


1951




Federal Reserve Bank of— Branch


Chief Officer

I. B. Smith1

W. D. FultonJ. W. KossinD. F. HagnerR. L. CherryP. L. T. BeaversT. A. LanfordR. E. Moody, Jr.E. P. ParisH. J. ChalfontC. M. StewartC. A. SchachtPaul E. SchroederC. W. GrothG. H. PipkinR. L. MathesL. H. EarhartC M . RowlandW. H. HollowayW. E. EagleW. F. VolbergS. A. MacEachronW. L. PartnerJ. M. Leisner

New York. . .Cleveland

Richmond

Atlanta

ChicagoSt. Louis

Minneapolis.,Kansas City.

Dallas

San Francisco

1 General Manager.


The Presidents of the Federal Reserve Banks are organized into a Conference of Presidentswhich meets from time to time to consider matters of common interest and to consult withand advise the Board of Governors.

Mr. Peyton, President of the Federal Reserve Bank of Minneapolis, and Mr. Leach,President of the Federal Reserve Bank of Richmond, who were elected Chairman of theConference and Vice Chairman, respectively, in February 1950, were re-elected as such inMarch 1951 and continued to serve during the year 1951.

Mr. Clement A. Van Nice, Assistant Vice President of the Federal Reserve Bank ofMinneapolis, who was appointed Secretary of the Conference in June 1950, continued toserve as such during 1951.


1951


[December 31, 1952]



Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas City

Dallas

San Francisco



Robert T. Stevens

Warren F. Whittier

George C. Brainard


Frank H.Neely

Franklin J. Lunding

Russell L. Dearmont

Roger B. Shepard

Robert B. Caldwell

J. R. Parten

Brayton Wilbur

Deputy Chairman

Ames Stevens

William I. Myers

C. Canby Balderston

John C. Virden


Rufus C. Harris

John S. Coleman

Wm. H. Bryce

Paul E. Miller

Cecil Puckett

R. B. Anderson

William R. Wallace, Jr.


The Chairmen of the Federal Reserve Banks are organized into a Conference of Chairmenwhich meets from time to time to consider matters of common interest and to consult withand advise the Board of Governors.

Mr. Wilbur, Chairman of the Federal Reserve Bank of San Francisco, was elected Chairmanof the Conference and of the Executive Committee in May 1951 and served as such throughthe meeting held in May 1952. Mr. Lunding, Chairman of the Federal Reserve Bank ofChicago, and Mr. Whittier, Chairman of the Federal Reserve Bank of Philadelphia, servedwith Mr. Wilbur as members of the Executive Committee.

At the meeting held in May 1952, Mr. Lunding was elected Chairman of the Conferenceand of the Executive Committee. Mr. Charles P. McCormick, Chairman of the FederalReserve Bank of Richmond, was elected Vice Chairman and a member of the ExecutiveCommittee, and Mr. Harold D. Hodgkinson, Chairman of the Federal Reserve Bank ofBoston, was elected as the other member of the Executive Committee. Mr. Lundingresigned as a director and Chairman of the Federal Reserve Bank of Chicago effectiveDecember 31, 1952, and Mr. McCormick succeeded him as Chairman of the Conferenceand of the Executive Committee.


1952


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Dec. 31, 1952—Cont.

DIRECTORS


The Class A directors are chosen as representatives of member banks and, as a matter ofpractice, are active officers of member banks. The Class B directors may not, under the law,be officers, directors, or employees of banks. At the time of their election they must beactively engaged in their district in commerce, agriculture, or some other industrial pursuit.



District No. 1—Boston

TermExpires

DIRECTORS Dec. 31

Class A:Earle W. Stamm President, The National Bank of Commerce of New

London, New London, Conn 1952Lloyd D. Brace President, The First National Bank of Boston, Boston,

Mass 1953Harold I. Chandler Vice President and Cashier, The Keene National Bank,

Keene, N. H 1954

Class B:Roy L. Patrick President, Rock of Ages Corporation, Burlington, Vt. 1952Harvey P. Hood President, H. P. Hood & Sons, Inc., Boston, Mass 1953Frederick S. Blackall, jr President and Treasurer, The Taft-Peirce Manufactur-

ing Company, Woonsocket, R. 1 1954

Class C.-Harold D. Hodgkinson Vice President, General Manager and Chairman of



Ames Stevens President, Ames Worsted Company, Lowell, Mass.. . 1954


John C. Traphagen Chairman of the Board, The Bank of New York, NewYork, N. Y 1952

Burr P. Cleveland President, First National Bank of Cortland, Cortland,N.Y 1953

F. Palmer Armstrong President, The Keyport Banking Company, Keyport,N. J 1954

Class B.-Clarence Francis Chairman of the Board, General Foods Corporation,

New York, N. Y 1952Marion B. Folsom Treasurer and Director, Eastman Kodak Company,

Rochester, N. Y 1953Jay E. Crane Vice President, Standard Oil Company (New Jersey),

New York, N. Y 1954


1952



TermExpiresDec. 31

DIRECTORS Cont.

Class C.-Philip Young Dean, Graduate School of Business, Columbia Univer-

sity, New York, N. Y 1952Robert T. Stevens Chairman of the Board, J. P. Stevens & Company, Inc.,

New York, N. Y 1953William I. Myers Dean, New York State College of Agriculture, Cornell

University, Ithaca, N. Y 1954

Buffalo BranchAppointed by Federal Reserve Ban\:

George F. Bates Vice President, The Marine Trust Company of West-ern New York, Buffalo, N. Y. (In charge of PowerCity Trust offices, Niagara Falls, N. Y.) 1952



Lewis G. Harriman President, Manufacturers and Traders Trust Company,Buffalo, N. Y 1954

Appointed by Board of Governors:Edgar F. Wendt President, Buffalo Forge Company, BufTalo, N. Y.. . 1952Robert C. Tait President, Stromberg-Carlson Company, Pvochester,

N. Y .' 1953Clayton G. White Dairy Farmer, Stow, N. Y 1954


J. Nyce Patterson President, Watsontown National Bank, Watsontown,Pa 1952

Archie D. Swift Chairman of Board, Central-Penn National Bank,Philadelphia, Pa 1953

Wads worth Cresse Trust Officer and Executive Vice President, FirstNational Bank and Trust Company, Woodbury,N. J 1954

Class B.-Charles E. Oakes President and Director, Pennsylvania Power and Light

Company, Allentown, Pa 1952Warren C. Newton President, O. A. Newton and Son Company, Bridge-

ville, Del 1953Andrew Kaul, III President and Director, Speer Carbon Company, St.

Marys, Pa 1954

Class C:Warren F. Whittier Agricultural Consultant, Chester Springs, Pa 1952C. Canby Balderston Dean, Wharton School of Finance and Commerce,

University of Pennsylvania, Philadelphia, Pa 1953William J. Meinel President and Chairman of Board, Heintz Manufac-

turing Company, Philadelphia, Pa 1954


John D. Bainer President, The Merchants National Bank and TrustCompany of Meadville, Meadville, Pa 1952


1952



TermExpiresDec. 31

DIRECTORS Cont.

Lawrence N. Murray President, Mellon National Bank and Trust Company,Pittsburgh, Pa 1953

Edison Hobstctter President, Pomeroy National Bank, Pomeroy, Ohio. . . 1954

Class B.-Edward C. Doll President, Lovell Manufacturing Company, Erie, Pa. 1952Charles J. Stilwell President, The Warner and Swasey Company, Cleve-

land, Ohio 1953Joel M. Bowlby Chairman of the Board, The Eagle-Picher Company,

Cincinnati, Ohio 1954

Class C.-George C. Brainard Chairman, Executive Committee, Addressograph-

Multigraph Corporation, Cleveland, Ohio 1952John C. Virden Chairman of the Board, John C. Virden Company,

Cleveland, Ohio 1953Leo L. Rummell Dean, College of Agriculture, The Ohio State Univer-

sity, Columbus, Ohio 1954

Cincinnati Branch

Appointed by Federal Reserve Ban\:Sterling B. Cramer First Vice President, The Fifth Third Union Trust

Company, Cincinnati, Ohio 1952L. M. Campbell President, Second National Bank, Ashland, Ky 1953E. S. Dabney President, Security Trust Company, Lexington, Ky.. . 1954Joseph B. Hall President, Kroger Company, Cincinnati, Ohio 1954

Appointed by Board of Governors:H. C. Besuden Farmer, Winchester, Ky 1952Granville R. Lohnes Treasurer, National Cash Register Company, Dayton,

Ohio 1953John C. Baker President, Ohio University, Athens, Ohio 1954

Pittsburgh Branch

Appointed by Federal Reserve Bank,:John Barclay, Jr President, Barclay-Westmoreland Trust Company,

Greensburg, Pa 1952Hugo E. Laupp President, Wheeling Dollar Savings and Trust Com-

pany, Wheeling, W. Va 1953Montfort Jones Professor of Finance, The University of Pittsburgh,

Pittsburgh, Pa 1954William B. McFall President, Commonwealth Trust Company of Pitts-

burgh, Pittsburgh, Pa 1954

Appointed by Board of Governors:Sidney A. Swensrud President, Gulf Oil Corporation, Pittsburgh, Pa 1952Henry A. Roemer, Jr President, Sharon Steel Corporation, Sharon, Pa 1953Clifford F. Hood Executive Vice President—Operations, United States

Steel Company, Pittsburgh, Pa 1954


Warren S. Johnson Investment Counselor, Peoples Savings Bank & TrustCompany, Wilmington, N. C 1952

John A. Sydenstricker Executive Vice President, First National Bank inMarlinton, Marlinton, W. Va 1953


1952



TermExpiresDec. 31

DIRECTORS Cont.


Class B:H. L. Rust, Jr President, H. L. Rust Company, Washington, D. C . . 1952Cary L. Page President and Treasurer, Jackson Mills, Wellford, S. C. 1953Edwin Hyde Executive Vice President, Miller & Rhoads, Inc., Rich-

mond, Va 1954

Class C.-John B. Woodward, Jr President, Newport News Shipbuilding & Dry Dock

Company, Newport News, Va 1952Charles P. McCormick President and Chairman of Board, McCormick &

Company, Inc., Baltimore, Md 1953W. G. Wysor Management Counsel, Southern States Cooperative,

Inc., Richmond, Va. 1954

Baltimore Branch

Appointed by Federal Reserve Ban\:Eugene G. Grady President, The Western National Bank, Baltimore, Md. 1952Lacy I. Rice President, The Old National Bank, Martinsburg,

W. Va 1952Charles W. Hoff President, Union Trust Company of Maryland, Balti-

more, Md 1953Charles A. Piper President, The Liberty Trust Company, Cumberland,

Md 1954

Appointed by Board of Governors:L. Vinton Hershey President and General Manager, Hagerstown Shoe

Company, Hagerstown, Md 1952James M. Shriver President, The B. F. Shriver Company, Westminster,

Md 1953Alonzo G. Decker, Jr Vice President, Black and Decker Manufacturing Com-

pany, Towson, Md 1954

Charlotte Branch

Appointed by Federal Reserve Ban\:George S. Crouch Chairman of the Board, Union National Bank,

Charlotte, N. C 1952Jonathan Woody , President, First National Bank, Waynesville, N. C 1952A. K. Davis Senior Vice President, Wachovia Bank and Trust

Company, Winston-Salem, N. C 1953Thomas J. Robertson President, First National Bank of South Carolina,

Columbia, S. C 1954

Appointed by Board of Governors:W. A. L. Sibley Vice President and Treasurer, Monarch Mills, Union,

S. C 1952R. E. Ebert President, Dixie Home Stores, Inc., Greenville, S. C. 1953Paul T. Taylor President, Taylor Warehouse Company, Winston-

Salem, N. C 1954

District No. 6—Atlanta

Class A:Leslie R. Driver President, The First National Bank in Bristol, Bristol

Tenn 1952Roland L. Adams President, Bank of York, York, Ala 1953


1952



TermExpiresDec. 31

DIRECTORS Cont.

W. C. Bowman Chairman of Board, The First National Bank of Mont-gomery, Montgomery, Ala 1954

Class B:Donald Comer Chairman of the Board, Avondale Mills, Birmingham,

Ala 1952A. B. Freeman Chairman of the Board, Louisiana Coca-Cola Bottling

Company, Ltd., New Orleans, La 1953}. A. McCrary Vice President and Treasurer, J. B. McCrary Company,

Inc., Atlanta, Ga 1954

Class C:Rufus C. Harris President, The Tulane University of Louisiana, New

Orleans, La 1952Frank H. Neely Chairman of the Board, Rich's, Incorporated, Atlanta,

Ga 1953Paul E. Reinhold President, Foremost Dairies, Inc., Jacksonville, Fla.. . . 1954

Birmingham Branch

Appointed by Federal Reserve Ban\:John B. Barnett, Jr President, The Monroe County Bank, Monroeviile,

Ala 1952A. M. Shook President, Security Commercial Bank, Birmingham,

Ala 1952T. J. Cottingham President, State National Bank of Decatur, Decatur,

Ala 1953A. J. Goodwin, Jr Vice President, The Anniston National Bank, Annis-

ton, Ala 1954

Appointed by Board of Governors:Thad Holt President, The Television Corporation, Birmingham,

Ala 1952John M. Gallalee President, University of Alabama, Tuscaloosa, Ala.. . . 1953Edwin C. Bottcher Farming, Cullman, Ala 1954

Jacksonville Branch

Appointed by Federal Reserve Ban\:N. Ray Carroll President, The First National Bank of Kissimmee,

Kissimmee, Fla 1952J. E. Bryan ,. .President, Union Trust Company, St. Petersburg, Fla. 1952Clement B. Chinn Vice Chairman, The First National Bank of Miami,

Miami, Fla 1953G. W. Reese President, The Citizens and Peoples National Bank of

Pensacola, Pensacola, Fla 1954

Appointed by Board of Governors:Howard Phillips Vice President and General Manager, Dr. P. Phillips

Company, Orlando, Fla 1952Marshall F. Howell Vice President, Bond-Howell Lumber Company, Jack-

sonville, Fla 1953J. Hillis Miller President, University of Florida, Gainesville, Fla 1954

Nashville Branch

Appointed by Federal Reserve Ban\:T. L. Cathey President, Peoples and Union Bank, Lewisburg, Tenn. 1952Thos. D. Brabson President, The First National Bank of Greeneville,

Greeneville, Tenn 1952


1952



TermExpiresDec. 31

DIRECTORS Cont.

G. C. Graves President, The First National Bank of Athens, Athens,Tenn 1953

Sam M. Fleming President, Third National Bank in Nashville, Nash-ville, Tenn 1954

Appointed by Board of Governors:W. Bratten Evans President, Tennesssee Enamel Manufacturing Com-

pany, Nashville, Tenn 1952C. E. Brehm President, University of Tennessee, Knoxville, Tenn.. . 1953H. C. Meacham Agriculture and livestock, Franklin, Tenn 1954

New Orleans Branch

Appointed by Federal Reserve Ban\:Elbert E. Moore President, Louisiana National Bank of Baton Rouge,

Baton Rouge, La 1952Percy H. Sitges President, Louisiana Bank & Trust Company, New

Orleans, La 1952Wm. C. Carter President, Gulf National Bank of Gulfport, Gulfport,

Miss 1953G. M. McWilliams President, Citizens Bank of Hattiesburg, Hattiesburg,

Miss 1954

Appointed by Board of Governors:E. O. Batson President, Batson-McGehee Company, Inc., Millard,

Miss 1952H. G. Chalkley, Jr President, Sweet Lake Land & Oil Company, Inc.,

Lake Charles, La 1953Joel L. Fletcher, Jr President, Southwestern Louisiana Institute, Lafayette,

La 1954


Horace S. French President, The Manufacturers National Bank of Chi-cago, Chicago, 111 1952

Vivian W. Johnson President, First National Bank, Cedar Falls, Iowa. . . . 1953Walter J. Cummings Chairman, Continental Illinois National Bank and

Trust Company of Chicago, Chicago, 111 1954

Class B.-William J. Grede President, Grede Foundries, Inc., Milwaukee, Wis.. . . 1952William R. Sinclair Chairman of the Board and Chief Executive Officer,

Kingan & Company, Indianapolis, Ind 1953Walter E. Hawkinson Vice President in Charge of Finance, and Secretary,

Allis-Chalmers Manufacturing Company, Milwau-kee, Wis 1954

Class C.-John S. Coleman President, Burroughs Adding Machine Company, De-

troit, Mich. . 1952Allan B. Kline President, American Farm Bureau Federation, Chi-

cago, 111. 1953Franklin J. Lunding Director and Chief Executive Officer, Jewel Tea Com-

pany, Inc., Chicago, 111 1954

Detroit Branch

Appointed by Federal Reserve Ban\:John A. Stewart Vice President and Cashier, Second National Bank &

Trust Company, Saginaw, Mich 1952


1952



TermExpiresDec. 31

DIRECTORS Cont.

Howard P. Parshall President, Commonwealth Bank, Detroit, Mich 1952Joseph M. Dodge President, The Detroit Bank, Detroit, Mich 1953

Appointed by Board of Governors:John A. Hannah President, Michigan State College, East Lansing, Mich. 1952William M. Day Vice President and General Manager, Michigan Bell

Telephone Company, Detroit, Mich 1953


J. E. Etherton President, Carbondale National Bank, Carbondale, 111. 1952William A. McDonnell President, First National Bank in St. Louis, St. Louis,

Mo 1953Phil E. Chappell President, Planters Bank & Trust Company, Hopkins-

ville, Ky 1954

Class B:

Ralph E. Plunkett President, Plunkett-Jarrell Grocer Company, LittleRock, Ark 1952

Louis Ruthenburg Chairman of Board, Servel, Inc., Evansville, Ind 1953M. Moss Alexander President, Missouri-Portland Cement Company, St.

Louis, Mo 1954

Class C.-Russell L. Dearmont Chief Counsel for Trustee, Missouri-Pacific Lines, St.

Louis, Mo 1952Wm. H. Brycc Vice President and Director, Dixie Wax Paper Com-

pany, Memphis, Tenn 1953Joseph H. Moore Farming, Charleston, Mo 1954

Little Rock Branch

Appointed by Federal Reserve Ban\:Harvey C. Couch, Jr President, Union National Bank, Little Rock, Ark 1952Gaither C. Johnston Farming, Dermott, Ark 1953Thos. W. Stone Executive Vice President, The Arkansas National

Bank, Hot Springs, Ark 1954H. C. McKinney, Jr President, First National Bank, El Dorado, Ark 1954

Appointed by Board of Governors:Stonewall J. Beauchamp President, Terminal Warehouse Company, Little Rock,

Ark 1952Sam B. Strauss President, Pfeifers of Arkansas, Little Rock, Ark 1953Shuford R. Nichols Farmer, ginner and cotton broker, Des Arc, Ark 1954

Louisville Branch

Appointed by Federal Reserve Ban\:A. C. Voris President, Citizens National Bank, Bedford, Ind 1952Noel Rush President, Lincoln Bank and Trust Company, Louis-

ville, Ky 1953Ira F. Wilcox Vice President and Cashier, The Union National Bank,

New Albany, Ind 1954M. C. Minor President, Farmers National Bank, Danville, Ky 1954

Appointed by Board of Governors:Smith D. Broadbent, Jr Farmer, Cadiz, Ky 1952


1952



TermExpiresDec. 31

DIRECTORS Cont.

Alvin A. Voit President, Mengel Company, Louisville, Ky 1953Pierre B. McBride President, Porcelain Metals Corporation, Louisville,

Ky 1954

Memphis Branch

Appointed by Federal Reserve Ban\:

Ben L. Ross Chairman of Board, Phillips National Bank, Helena,Ark 1952

C. Reeves President, Merchants and Farmers Bank, Columbus,Miss 1953

William B. Pollard President, National Bank of Commerce, Memphis,Tenn 1954

John A. McCall President, First National Bank, Lexington, Tenn.. . . . 1954


Hugh M. Brinkley Farmer, Hughes, Ark 1952M. P. Moore Owner, Circle M Ranch, Senatobia, Miss 1953CafTey Robertson President, Caffey Robertson Company, Memphis, Tenn. 1954


Edgar F. Zelle Chairman of the Board, First National Bank ofMinneapolis, Minneapolis, Minn 1952

H. N. Thomson Vice President, Farmers and Merchants Bank, Presho,S.D 1953


Class B:


W. A. Deneckc Livestock rancher, Bozcman, Mont 1953Ray C. Lange President, Chippewa Canning Company, Chippewa

Falls, Wis 1954

Class C:

F. A. Flodin President, Lake Shore Engineering Company, IronMountain, Mich 1952

Roger B. Shepard St. Paul, Minn 1953Paul E. Miller Director, Agricultural Extension Division, University

of Minnesota, St. Paul, Minn 1954

Helena Branch

Appointed by Federal Reserve Ban\:Theodore Jacobs President, First National Bank, Missoula, Mont 1952E. D. MacHaffie Investments, Helena, Mont 1952A. W. Heidel Vice President, Powder River County Bank, Broadus,

Mont 1953


John E. Corette, Jr President and General Manager, Montana PowerCompany, Butte, Mont 1952

G. R. Milburn Livestock rancher, Grass Range, Mont 1953


1952



TermExpiresDec. 31

DIRECTORS Cont.


W. S. Kennedy President and Chairman of the Board, The First Na-tional Bank of Junction City, Junction City, Kan.. . 1952

W. L. Bunten Executive Vice President, Goodland State Bank,Goodland, Kan 1953

T. A. Dines Chairman of the Board, The United States NationalBank of Denver, Denver, Colo 1954

Class B:E. M. Dodds President, United States Cold Storage Corporation,

Kansas City, Mo 1952L. C. Hutson Director, Chickasha Cotton Oil Company, Chickasha,

Okla 1953Max A. Miller Ranching and farming, Omaha, Neb 1954

Class C.-Robert B. Caldwell Caldwell, Downing, Noble and Garrity, Kansas City,

Mo 1952Cecil Puckett Dean, College of Business Administration, University

of Denver, Denver, Colo 1953Lyle L. Hague Farmer and stockman, Cherokee, Okla 1954

Denver Branch

Appointed by Federal Reserve Ban\:Ralph S. Newcomer Executive Vice President, First National Bank in

Boulder, Boulder, Colo 1952Albert K. Mitchell Rancher, Albert, N. M 1952Merriam B. Berger Vice President, The Colorado National Bank of Den-

ver, Denver, Colo 1953

Appointed by Board of Governors:G. Norman Winder Rancher, Craig, Colo 1952Aksel Nielsen President, The Title Guaranty Company, Denver,

Colo 1953

Oklahoma City Branch

Appointed by Federal Reserve Ban\:F. M. Overstreet President, First National Bank at Ponca City, Ponca

City, Okla 1952Frank A. Sewell Chairman of the Board and President, The Liberty

National Bank and Trust Company of OklahomaCity, Oklahoma City, Okla 1952

George R. Gear President, The City National Bank of Guymon,Guymon, Okla 1953

Appointed by Board of Governors:Rufus J. Green Rancher and farmer, Duncan, Okla 1952Cecil W. Cotton President, C. W. Cotton Supply Company, Tulsa,

Okla 1953

Omaha Branch

Appointed by Federal Reserve Ban\:Fred W. Marble President, The Stock Growers National Bank of Chey-

enne, Cheyenne, Wyo 1952I. R. Alter President, The First National Bank of Grand Island,

Grand Island, Neb 1953


1952



TermExpiresDec. 31

DIRECTORS Cont.

Ellsworth Moser President, The United States National Bank ofOmaha, Omaha, Neb 1953

Appointed by Board of Governors:Fred S. Wallace Farmer, Gibbon, Neb 1952Joe W. Seacrest President, State Journal Company, Lincoln, Neb.. .. 1953

District No. 11—Dallas

Class A:J. Edd McLaughlin President, Security State Bank and Trust Company,

Rails, Tex 1952W. L. Peterson President, The State National Bank, Denison, Tex 1953P. P. Butler President, First National Bank in Houston, Houston,

Tex 1954

Class B:George L. MacGregor Chairman of the Board, President and General Man-

ager, Dallas Power and Light Company, Dallas,Tex 1952

W. F. Beall President and General Manager, 3 Beall Brothers 3,Department Stores, Jacksonville, Tex 1953

D. A. Hulcy Chairman of the Board and President, Lone StarGas Company, Dallas, Tex 1954

Class C:J. R. Parten President, Woodley Petroleum Company, Houston,

Tex 1952Hal Bogle Livestock feeding, farming and ranching. Dexter,

N. M 1953R. B. Anderson General Manager, W. T. Waggoner Estate, Vernon,

Tex 1954

El Paso Branch

Appointed by Federal Reserve Ban\:George G. Matkin President, State National Bank, El Paso, Tex' 1952W. H. Holcombe Executive Vice President, Security State Bank, Pecos,

Tex 1953John W. Cordts President, Southwest National Bank, El Paso, Tex.. . . 1954J. M. Sakrison President, Southern Arizona Bank & Trust Company,

Tucson, Ariz 1954

Appointed by Board of Governors:Hiram S. Corbett President, J. Knox Corbett Lumber Company, Tuscon,

Ariz 1952Vacancy 1953Jas. A. Dick, Jr President, James A. Dick Investment Company, El

Paso, Tex 1954

Houston Branch

Appointed by Federal Reserve Ban\:Melvin Rouff. President, Houston National Bank, Houston, Tex.. . . 1952R. Lee Kempner President, United States National Bank, Galveston,

Tex 1953O. R. Weyrich President, Houston Bank & Trust Company, Houston,

Tex 1954P. R. Hamill President, Bay City Bank & Trust Company, Bay City,

Tex 1954


1952



TermExpiresDec. 31

DIRECTORS Cont.

Appointed by Board of Governors:Charles N. Shepardson Dean of Agriculture, A. & M. College of Texas,

College Station, Tex 1952Herbert G. Sutton T. O. Sutton and Sons, Colmesneil, Tex" 1953Ross Stewart President, C. Jim Stewart & Stevenson, Inc., Houston,

Tex 1954

San Antonio Branch

Appointed by Federal Reserve Ban\:Riley Peters President, First State Bank, Kerrville, Tex.. .. 1952E. R. L. Wroe President, American National Bank, Austin, Tex.. . . 1953E. A. Baetz President, Bexar County National Bank, San Antonio,

Tex 1954V. S. Marett President, Gonzales State Bank, Gonzales, Tex 1954

Appointed by Board of Governors:D. Hayden Perry Livestock farming, Robstown, Tex 1952Edward E. Hale Chairman of the Department and Professor of Eco-

nomics, The University of Texas, Austin, Tex... 1953Henry P. Drought Attorney at Law, San Antonio, Tex 1954


William W. Crocker Chairman of the Board, Crocker First National Bankof San Francisco, San Francisco, Calif 1952

Chas. H. Stewart Chairman of the Board, Portland Trust Bank, Port-land, Ore 1953


Class B.-Walter S. Johnson President, American Forest Products Corporation, San

Francisco, Calif 1952Alden G. Roach President, Columbia-Geneva Steel Division of United

States Steel Company, San Francisco, Calif 1953Reese H. Taylor President, Union Oil Company of California, Los

Angeles, Calif 1954

Class C:Brayton Wilbur President, Wilbur-Ellis Company, San Francisco, Calif. 1952William R. Wallace, Jr Member of the firm of Wallace, Garrison, Norton &

Ray, Attorneys at Law, San Francisco, Calif 1953Harry R. Wellman Director, Giannini Foundation of Agricultural Eco-

nomics, University of California, Berkeley, Calif.. . 1954

Los Angeles Branch

Appointed by Federal Reserve Ban\:M. Vilas Hubbard President, Citizens Commercial Trust and Savings

Bank of Pasadena, Pasadena, Calif 1952Frank L. King President, California Bank, Los Angeles, Calif 1952W. R. Bimson President, The Valley National Bank of Phoenix,

Phoenix, Ariz 1953

Appointed by Board of Governors:Fred G. Sherrill Vice President J. G. Boswell Company, Los Angeles,

Calif 1952Paul H. Helms President, Helms Bakeries, Los Angeles, Calif 1953


1952



TermExpiresDec. 31

DIRECTORS Cont.

Portland Branch

Appointed by Federal Reserve Ban\:W. W. Flint President, The First National Bank of Cottonwood,

Cottonwood, Idaho 1952Frank Wortman President, The First National Bank of McMinnviile,

McMinnville, Ore 1952E. C. Sammons President, The United States National Bank of Port-

land, Portland, Ore 1953

Appointed by Board of Governors:Robert B. Taylor Livestock and farming, Adams, Ore 1952Aaron M. Frank President, Meier & Frank Company, Inc., Portland,

Ore 1953

Salt Lake City Branch

Appointed by Federal Reserve Ban\:Chas. L. Smith Chairman of the Board, First Security Bank of Utah,

National Association, Salt Lake City, Utah 1952John A. Schoonover President, The Idaho First National Bank, Boise,

Idaho 1952Harry Eaton Vice President, Twin Falls Bank and Trust Com-

pany, Twin Falls, Idaho 1953

Appointed by Board of Governors:Merle G. Hyer Livestock and farming, Lcwiston, Utah 1952Vacancy 1953

Seattle Branch

Appointed by Federal Reserve Ban\:Fred C. Forrest Chairman of the Board and President, The First

National Bank of Pullman, Pullman, Wash 1952Benj. N. Phillips Chairman of the Board, First National Bank in Port

Angeles, Port Angeles, Wash 1952Chas. F. Frankland President, The Pacific National Bank of Seattle,

Seattle, Wash 1953

Appointed by Board of Governors:Ralph Sundquist Sundquist Fruit and Cold Storage, Yakima, Wash.. . . 1952D. K. MacDonald President, D. K. MacDonald & Company, Inc., Seattle,

Wash 1953


1952


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKSDec. 31, 1952—Cont.

SENIOR OFFICERS OF FEDERAL RESERVE BANKS[December 31, 1952]


PresidentFirst Vice President Vice Presidents

Boston.

New York.

Philadelphia

Cleveland

Richmond.

Atlanta.

Chicago.

St. Louis.

Minneapolis

Kansas City

Dallas

San Francisco....


Allan SproulWilliam F. Treiber


Ray M. GidneyWin. H. Fletcher

Hugh LeachJ. S. Walden, Jr.

Malcolm BryanL. M. Clark


Delos C. JohnsO. M. Attebery

O. S. PowellA. W. Mills





E. O. Latham

H. A. BilbyH. H. KimballL. W. KnokeWalter S. LoganA. Phelan

Karl R. BoppRobert N. HilkertE. C. HillWm. G. McCreedy

Wilbur T. BlairRoger R. ClouseA. H. Laning2

N. L. ArmisteadR. W. Mercer2

C. B. Strathy

V. K. BowmanJ. E. DenmarkHarold T. Patterson

Allan M. BlackNeil B. DawesW. R. DiercksW. A. HopkinsL. H. Jones1

Frederick L. DemingDale M. LewisWm. E. Peterson

H. C. CoreE. B. LarsonH. G. McConnell

P. A. Debus1

M. W. E. Park

E. B. AustinR. B. ColemanJ. L. Cook2

Watrous H. Irons

E. R. MillardH. F. Slade

Carl B. PitmanO. A. SchlaikjerR. F. Van Amringe

H. V. RoelseRobert G. RouseV. WillisR. B. WiltseJ. H. Wurts

P. M. PoormanJ. V. Vergari3

Richard G. Wilgus1

Martin MorrisonPaul C. StetzelbergerDonald S. Thompson

K. Brantley WatsonEdw. A. WayneChas. W. Williams

E. C. Rainey1

L. B. RaistyEarle L. RauberS. P. Schuessler

L. G. MeyerGeorge W. MitchellA. L. OlsonAlfred T. SihlerW. W. Turner

H. H. WeigelJ. C. Wotawa

Otis R. PrestonM. H. Strothman, Jr.Sigurd Ueland

Clarence W. TowD. W. Woolley

L. G. PondromHarry A. ShufordMac C. Smyth

Ronald T. Symms2

O. P. Wheeler

1 Cashier. 2 Also Cashier. 8 Counsel.


1952





New York...Cleveland. . .

Richmond

Atlanta

ChicagoSt. Louis

Minneapolis.Kansas City. .

Dallas

San Francisco

BuffaloCincinnatiPittsburghBaltimoreCharlotteBirminghamJacksonvilleNashvilleNew OrleansDetroitLittle RockLouisvilleMemphisHelenaDenverOklahoma CityOmahaEl PasoHoustonSan AntonioLos AnglesPortlandSalt Lake CitySeattle

I. B. SmithW. D. FultonJ. W. KossinD. F. HagnerR. L. CherryJohn L. Liles, Jr*T. A. LanfordR. E. Moody, Jr.E. P. ParisH. J. ChalfontC. M. StewartC. A. SchachtPaul E. SchroederC. W. GrothG. A. GregoryR. L. MathesL. H. EarhartC. M. RowlandW. H. HollowayW. E. EagleW. F. VolbergJ. A. RandallW. L. PartnerJ. M. Leisner


The Presidents of the Federal Reserve Banks are organized into a Conference of Presidentswhich meets from time to time to consider matters of common interest and to consult withand advise the Board of Governors.

Mr. Peyton, President of the Federal Reserve Bank of Minneapolis, and Mr. Leach, Presi-dent of the Federal Reserve Bank of Richmond, who were elected Chairman of the Con-ference and Vice Chairman, respectively, in February 1950, v/ere re-elected as such in March1951 and continued to serve until the meeting held in February 1952 when Mr. Leach waselected Chairman of the Conference and Mr. Gilbert, President of the Federal Reserve Bankof Dallas, was elected Vice Chairman.

Mr. Clement A. Van Nice, Assistant Vice President of the Federal Reserve Bank ofMinneapolis, who was appointed Secretary of the Conference in June 1950, continued toserve as such through the meeting held in June 1952, at which meeting Mr. Aubrey N. Heflin,Counsel, Federal Reserve Bank of Richmond, was appointed as his successor.


1952


[December 31, 1953]



Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas City

Dallas

San Francisco

Chairman andFederal Preserve Agent


Jay E. Crane

William J. Meinel

John C. Virden


Frank H. Neely

John S. Coleman

Russell L. Dearmont

Roger B. Shepard

Raymond W. Hall

J. R. Parten

Brayton Wilbur

Deputy Chairman

Ames Stevens

William I. Myers

C. Canby Balderston

Leo L. Rummell


Rufus C. Harris

Bert R. Prall

Wm. H. Bryce

Paul E. Miller

Cecil Puckett

Robert J. Smith

William R. Wallace, Jr.


Mr. Franklin J. Lunding, Chairman of the Federal Reserve Bank of Chicago, who hadbeen serving as Chairman of the Conference and of the Executive Committee since May 1952,resigned as a director and Chairman of the Federal Reserve Bank of Chicago, effectiveDecember 31, 1952. Mr. Charles P. McCormick, Chairman of the Federal Reserve Bank ofRichmond, succeeded Mr. Lunding as Chairman of the Conference and of the Executive Com-mittee. Mr. McCormick previously had been Vice Chairman of the Conference.

At the meeting held in April 1953, Mr. Harold D. Hodgkinson was elected Chairmanof the Conference and of the Executive Committee. Mr. Virden, Chairman of the FederalReserve Bank of Cleveland, was elected Vice Chairman and a member of the ExecutiveCommittee, and Mr. Meinel, Chairman of the Federal Reserve Bank of Philadelphia, waselected as the other member of the Executive Committee.


1953



DIRECTORS

Class A and Class B directors are elected by the member banks of the district. Class Cdirectors arc appointed by the Board of Governors of the Federal Reserve System.

The Class A directors are chosen as representatives of member banks and, as a matterof practice, are active officers of member banks. The Class B directors may not, under thelaw, be officers, directors, or employees of banks. At the time of their election they must beactively engaged in their district in commerce, agriculture, or some other industrial pursuit.



District No. 1—Boston

TermExpires

DIRECTORS Dec. 31

Class A:Lloyd D. Brace President, The First National Bank of Boston, Boston,

Mass 1953Harold I. Chandler Vice President and Cashier, The Keene National Bank,

Keene, N. H 1954Oliver B. Ellsworth President, Riverside Trust Company, Hartford, Conn. 1955

Class B.-Harvey P. Hood President, H. P. Hood & Sons, Inc., Boston, Mass 1953Frederick S. Blackall, jr President and Treasurer, The Taft-Peirce Manufactur-

ing Company, Woonsocket, R. 1 1954Harry E. Umphrey President, Aroostook Potato Growers, Inc., Presque

Isle, Me 1955Class C:


Ames Stevens President, Ames Worsted Company, Lowell, Mass... . 1954Harold D. Hodgkinson Vice President, General Manager, and Chairman of



Burr P. Cleveland President, First National Bank of Cortland, Cortland,N. Y 1953

F. Palmer Armstrong President, The Keyport Banking Company, Keyport,N . J 1954

N. Baxter Jackson Chairman of the Board, Chemical Bank & Trust Com-pany, New York, N. Y 1955

Class B:Lansing P. Shield President, The Grand Union Company, East Paterson,

N . J 1953John E. Bierwirth President, National Distillers Products Corporation,

New York, N. Y 1954Clarence Francis Chairman of the Board, General Foods Corporation,

New York, N. Y 1955


1953


DIRECTORS AND SENIOR OFFICERS OF FEDERAL RESERVE BANKS, Dec. 31,1953—Cont.

TermExpires

DIRECTORS—Cont. Dec. 31

Class C:Jay E. Crane Vice President, Standard Oil Company (New Jersey),

New York, N. Y 1953William I. Myers Dean, New York State College of Agriculture, Cornell

University, Ithaca, N. Y 1954Franz Schneider Executive Vice President, Newmont Mining Corpora-

tion, New York, N. Y 1955

Buffalo BranchAppointed by Federal Reserve Bank:


Lewis G. Harriman President, Manufacturers and Traders Trust Company,Buffalo, N. Y.. 1954


Edward P. Vreeland President, Salamanca Trust Company, Salamanca,N. Y 1955


Robert C. Tait President, Stromberg-Carlson Company, Rochester,N. Y 1953

Clayton White Dairy farmer, Stow, N. Y 1954Edgar F. Wendt President, Buffalo Forge Company, Buffalo, N. Y 1955

District No. 3—Philadelphia

Class A:Archie D. Swift Chairman of Board, Central-Penn National Bank,

Philadelphia, Pa.. 1953Wadsworth Cresse Executive Vice President and Trust Officer, The First

National Bank and Trust Company, Woodbury, N. J. 1954Bernard C. Wolfe President, The First National Bank, Towanda, Pa . . . . 1955

Class B:Warren C. Newton President, O. A. Newton and Son Company, Bridge-

ville, Del 1953Andrew Kaul, III President and Director, Speer Carbon Company, St.

Marys, Pa 1954Charles E. Oakes President and Director, Pennsylvania Power and Light

Company, Allentown, Pa 1955

Class C:

C. Canby Balderston Dean, Wharton School of Finance and Commerce,University of Pennsylvania, Philadelphia, Pa 1953

William J. Meinel President and Chairman of Board, Heintz Manufactur-ing Company, Philadelphia, Pa 1954

Henderson Supplee, Jr President, Atlantic Refining Company, Philadelphia,Pa 1955

District No. 4—Cleveland

Class A:Lawrence N. Murray President, Mellon National Bank and Trust Company,

Pittsburgh, Pa 1953Edison Hobstetter President, The Pomeroy National Bank, Pomeroy,

Ohio 1954John D. Bainer President, The Merchants National Bank and Trust

Company of Meadville, Meadville, Pa 1955


1953



TermExpires

DIRECTORS—Cont. Dec. 31Class B.-

Charles J. Stilwell President, The Warner and Swasey Company, Cleve-land, Ohio 1953

Joel M. Bowlby Chairman of the Board, The Eagle-Picher Company,Cincinnati, Ohio 1954

Edward C. Doll President, Lovell Manufacturing Company, Erie, Pa. 1955Class C.-

John C. Virden Chairman of the Board, John C. Virden Company,Cleveland, Ohio 1953

Leo L. Rummell Dean, College of Agriculture, The Ohio State Univer-sity, Columbus, Ohio 1954

Sidney A. Swensrud Chairman of the Board, Gulf Oil Corporation, Pitts-burgh, Pa 1955

Cincinnati BranchAppointed by Federal Reserve Bank:

L. M. Campbell President, Second National Bank, Ashland, Ky 1953Joseph B. Hall President, Kroger Company, Cincinnati, Ohio 1954E. S. Dabney President, Security Trust Company, Lexington, Ky.. . 1954Fred A. Dowd President, Atlas National Bank, Cincinnati, Ohio 1955


Granville R. Lohnes Treasurer, National Cash Register Company, Dayton,Ohio 1953

John C. Baker President, Ohio University, Athens, Ohio 1954H. C. Besuden Farmer, Winchester, Ky 1955

Pittsburgh BranchAppointed by Federal Reserve Bank:

Hugo E. Laupp President, Wheeling Dollar Savings and Trust Com-pany, Wheeling, W. Va 1953

William B. McFall President, Commonwealth Trust Company of Pitts-burgh, Pittsburgh, Pa 1954

Montfort Jones Professor of Finance, University of Pittsburgh, Pitts-burgh, Pa 1954

Paul Malone President, The Second National Bank of Uniontown,Uniontown, Pa 1955


Henry A. Roemer, Jr President, Sharon Steel Corporation, Sharon, Pa 1953Clifford F. Hood President, United States Steel Corporation, Pittsburgh,

Pa 1954Douglas M. Moorhead Farmer, North East, Pa 1955

District No. 5—Richmond

Class A:John A. Sydenstricker Executive Vice President, First National Bank in

Marlinton, Marlinton, W. Va 1953James D. Harrison President, First National Bank of Baltimore, Balti-

more, Md 1954Warren S. Johnson Investment Counselor, Peoples Savings Bank & Trust

Company, Wilmington, N. C 1955Class B:

Cary L. Page President and Treasurer, Jackson Mills, Wellford, S. C. 1953Edwin Hyde Executive Vice President, Miller & Rhoads, Inc.,

Richmond, Va 1954H. L. Rust, Jr President, H. L. Rust Company, Washington, D. C.. . 1955


1953



TermExpires


Class C:Charles P. McCormick President and Chairman of Board, McCormick & Com-

pany, Inc., Baltimore, Md 1953W. G. Wysor. Management Counsel, Southern States Cooperative,

Inc., Richmond, Va 1954Tohn B. Woodward, J r . . . . . .President, Newport News Shipbuilding & Dry Dock

Company, Newport News, Va 1955

Baltimore BranchAnointed by Federal Reserve Bank:

Charles W. HofF President, Union Trust Company of Maryland, Balti-more, Md 1953


Lacy I. Rice President, The Old National Bank, Martinsburg,W. Va 1955

Stanley B. Trott President, Maryland Trust Company, Baltimore, Md. 1955


James M. Shriver President, The B. F. Shriver Company, Westminster,Md 1953

Alonzo G. Decker, Jr Vice President, The Black and Decker ManufacturingCompany, Towson, Md 1954

Howard M. Taylor, Jr Vice President, International Bedding Company,Baltimore, Md 1955

Charlotte BranchAppointed by Federal Reserve Bank:

A. K. Davis Senior Vice President, Wachovia Bank and TrustCompany, Winston-Salem, N. C 1953


George S. Crouch Chairman of the Board, The Union National Bank,Charlotte, N. C 1955

Jonathan Woody President, First National Bank, Waynesville, N. C 1955


R. E. Ebert President, Dixie Home Stores, Inc., Greenville, S. C. 1953Paul T. Taylor President, Taylor Warehouse Company, Winston-

Salem, N. C 1954Thomas H. Wilson President, Treasurer, and Advertising Manager, Henre-

don Furniture Industries, Inc., Morganton, N. C 1955

District No. 6—Atlanta

Class A:Roland L. Adams President, Bank of York, York, Ala 1953W. C. Bowman Chairman of Board, The First National Bank of Mont-

gomery, Montgomery, Ala 1954Leslie R. Driver President, The First National Bank in Bristol, Bristol,

Tenn 1955Class B:

A. B. Freeman Chairman of the Board, Louisiana Coca-Cola BottlingCompany, Ltd., New Orleans, La 1953

Pollard Turman President, J. M. Tull Metal & Supply Company, Inc.,Atlanta, Ga 1954

Donald Comer Chairman of the Board, Avondale Mills, Birmingham,Ala 1955


1953



TermExpires


Class C:Frank H. Neely Chairman of the Board, Rich's, Incorporated, Atlanta,

Ga 1953Paul E. Reinhold Chairman of the Board, Foremost Dairies, Inc.,

Jacksonville, Fla 1954Rufus C. Harris President, The Tulane University of Louisiana, New

Orleans, La 1955

Birmingham Branch

Appointed by Federal Reserve Bank:

T. J. Cottingham President, State National Bank of Decatur, Decatur,Ala 1953

Malcolm A. Smith First Vice President, Birmingham Trust NationalBank, Birmingham, Ala 1954

John B. Barnett, Jr President, The Monroe County Bank, Monroeville,Ala . . . . 1955

Frank M. Moody Vice President, The First National Bank of Tuskaloosa,Tuscaloosa, Ala 1955


John M. Gallalee President Emeritus, University of Alabama, Tus-caloosa, Ala 1953

Edwin C. Bottcher Farmer, Cullman, Ala 1954Thad Holt Norton and Holt, Investments, Birmingham, Ala 1955

Jacksonville Branch

Appointed by Federal Reserve Dank:

Vacancy 1953G. W. Reese President, The Citizens and Peoples National Bank of

Pensacola, Pensacola, Fla 1954Frank W. Norris President, The Barnett National Bank of Jacksonville,

Jacksonville, Fla 1955J. Carlisle Rogers President, The First National Bank of Leesburg,

Leesburg, Fla 1955


Marshall F. Howell Vice President, Bond-Howell Lumber Company,Jacksonville, Fla 1953

Vacancy 1954Harry M. Smith President and Manager, Winter Garden Ornamental

Nursery, Inc., Winter Garden, Fla 1955

Nashville Branch


G. C. Graves President, The First National Bank of Athens, Athens,Tenn 1953

Sam M. Fleming President, Third National Bank of Nashville, Nash-ville, Tenn 1954

James V. Sprouse President, The First National Bank of Springfield,Springfield, Tenn 1955

T. R. Keys President, Erwin National Bank, Erwin, Tenn 1955


C. E. Brehm President, University of Tennessee, Knoxville, Tenn. 1953H. C. Meacham Farming, Franklin, Tenn 1954Ernest J. Moench President, Tennessee Tufting Company, Nashville,

Tenn 1955


1953



TermExpires

DIRECTORS—Cont. Dec. 31New Orleans Branch

Appointed by Federal Reserve Bank:Wm. C. Carter President, Gulf National Bank of Gulfport, Gulfport,

Miss 1953G. M. McWilliams President, Citizens Bank of Hattiesburg, Hattiesburg,

Miss 1954Keehn W. Berry President, Whitney National Bank of New Orleans,

New Orleans, La 1955J. T. Brown Chairman of the Board, The First National Bank of

Jackson, Jackson, Miss 1955Appointed by Board of Governors:

H. G. Chalkley, Jr President, Sweet Lake Land & Oil Company, Inc.,Lake Charles, La 1953

Joel L. Fletcher, Jr President, Southwestern Louisiana Institute, Lafay-ette, La 1954

E. O. Batson President, Batson-McGehee Company, Inc., Millard,Miss 1955


Vivian W. Johnson President, First National Bank, Cedar Falls, I o w a — 1953Walter J. Cummings Chairman, Continental Illinois National Bank and

Trust Company of Chicago, Chicago, 111 1954Nugent R. Oberwortmann.. .President, The North Shore National Bank of Chicago,

Chicago, 111 1955Class B.-

William R. Sinclair Chairman of the Board, Kingan & Company, Indian-apolis, Ind. 1953

Walter E. Hawkinson Vice President in Charge of Finance, and Secretary,Allis-Chalmers Manufacturing Company, Mil-waukee, Wis 1954

William J. Grede President, Grede Foundries, Inc., Milwaukee, Wis 1955Class C:

Allan B. Kline President, American Farm Bureau Federation, Chicago,111 1953

Bert R. Prall President, Butler Bros., Chicago, 111 1954John S. Coleman President, Burroughs Corporation, Detroit, Mich 1955

Detroit BranchAppointed by Federal Reserve Bank:

Raymond T. Perring President, The Detroit Bank, Detroit, Mich 1953Howard P. Parshall President, The Bank of the Commonwealth, Detroit,

Mich. 1954John A. Stewart Vice President and Cashier, Second National Bank &

Trust Company, Saginaw, Mich 1954Appointed by Board of Governors:

William M. Day Vice President and General Manager, Michigan BellTelephone Company, Detroit, Mich 1953

C. M. Hardin Dean of Agriculture, Michigan State College, EastLansing, Mich 1954

District No. &—St. LouisClass A:

William A. McDonnell President, First National Bank in St. Louis, St. Louis,Mo 1953

Phil E. Chappell President, Planters Bank & Trust Company, Hopkins-villey Ky 1954

J. E. Etherton President, Carbondale National Bank, Carbondale, 111. 1955


1953



TermExpires


Class B.-Louis Ruthenburg Chairman of Board, Servel, Inc., Evansville, Ind 1953M. Moss Alexander President, Missouri-Portland Cement Company, St.

Louis, Mo 1954Ralph E. Plunkett President, Plunkett-Jarrell Grocer Company, Little

Rock, Ark 1955Class C:

Wm. H. Bryce Chairman of the Board, Dixie Wax Paper Company,Memphis, Tenn 1953

Joseph H. Moore Farming, Charleston, Mo 1954Russell L. Dearmont Chief Counsel for Trustee, Missouri-Pacific Lines,

St. Louis, Mo 1955

Little Rock Branch


Gaither C. Johnston Investments, Dermott, Ark 1953H. C. McKinney, Jr President, First National Bank, El Dorado, Ark 1954Thos. W. Stone President, The Arkansas National Bank, Hot Springs,

Ark 1954Harvey C. Couch, Jr President, Union National Bank, Little Rock, Ark.. . 1955


Sam B. Strauss President, Pfeifers of Arkansas, Little Rock, Ark 1953Shuford R. Nichols Farmer, ginner and cotton broker, Des Arc, Ark 1954Stonewall J. Beauchamp . . . President, Terminal Warehouse Company, Little

Rock, Ark 1955

Louisville Branch


Noel Rush President, Lincoln Bank and Trust Company, Louis-ville, Ky 1953

M. C. Minor President, Farmers National Bank, Danville, Ky 1954Ira F. Wilcox Vice President and Cashier, The Union National

Bank, New Albany, Ind 1954Magnus J. Kreisle President, Tell City National Bank, Tell City, Ind. . . . 1955


Alvin A. Voit President, Mengel Company, Louisville, Ky 1953Pierre B. McBride President, Porcelain Metals Corporation, Louisville,

Ky 1954Smith Broadbent, Jr Farmer, Cadiz, Ky 1955

Memphis Branch


C. H. Reeves President, Merchants and Farmers Bank, Columbus,Miss 1953

John A. McCall President, First National Bank, Lexington, Tenn 1954William B. Pollard President, National Bank of Commerce, Memphis,

Tenn 1954Ben L. Ross Chairman of Board, Phillips National Bank, Helena,

Ark 1955


M. P. Moore Owner, Circle M Ranch, Senatobia, Miss 1953Caffey Robertson President, Caffey Robertson Company, Memphis, Tenn. 1954Henry Banks Farmer, Clarkedale, Ark 1955


1953



TermExpires

DIRECTORS—Coot. Dec. 31


H. N. Thomson Vice President, Farmers and Merchants Bank, Presho,S, D 1953


Edgar F. Zelle Chairman of the Board, First National Bank, Min-neapolis, Minn 1955

Class B:W. A. Denecke Livestock rancher, Bozeman, Mont 1953Ray C. Lange President, Chippewa Canning Company, Chippewa

Falls, Wis 1954Homer P. Clark Honorary Chairman of the Board, West Publishing

Company, St. Paul, Minn 1955

Class C.-Roger B. Shepard. St. Paul, Minn 1953Paul E. Miller Director, University of Minnesota Agricultural Exten-

sion Division, St. Paul, Minn 1954F.rA. Flodin President, Lake Shore Engineering Company, Iron

Mountain, Mich 1955

Helena BranchAppointed by Federal Reserve Bank:

A. W. Heidel Vice President, Powder River County Bank, Broadus,Mont 1953

J. Willard Johnson Financial Vice President, Western Life Insurance Com-pany, Helena, Mont 1954

George N. Lund Vice President and Cashier, First National Bank,Reserve, Mont 1954

Appointed by Board of Governors:G. R. Milburn Livestock rancher, Grass Range, Mont 1953John E. Corette President and General Manager, Montana Power

Company, Butte, Mont 1954

District No. 10—Kansas City

Class A:W. L. Bunten President, Goodland State Bank, Goodland, Kan 1953T. A. Dines Chairman of the Board, The United States National

Bank of Denver, Denver, Colo 1954W. S. Kennedy President and Chairman of the Board, The First

National Bank of Junction City, Junction City, Kan. 1955Class B:

Vacancy 1953Max A. Miller Livestock rancher, Omaha, Neb 1954E. M. Dodds President and Director, United States Cold Storage

Corporation, Kansas City, Mo 1955

Class C:Cecil Puckett Dean, College of Business Administration, University

of Denver, Denver, Colo 1953Lyle L. Hague Farmer and stockman, Cherokee, Okla 1954Raymond W. Hall Vice President, Controller and Director, Hall Brothers,

Inc., Kansas City, Mo 1955


1953



TermExpires

DIRECTORS—Cont. Dec. 31Denver Branch


Merriam B. Berger Vice President, The Colorado National Bank ofDenver, Denver, Colo 1953

Ralph S. Newcomer Executive Vice President, First National Bank inBoulder, Boulder, Colo 1954

Arthur Johnson President, First National Bank in Raton, Raton, N. M. 1954


Aksel Nielsen President, The Title Guaranty Company, Denver,Colo 1953

G. Norman Winder Rancher, Craig, Colo 1954

Oklahoma City BranchAppointed by Federal Reserve Bank:


F. M. Overstreet President, First National Bank at Ponca City, PoncaCity, Okla 1954

Frank A. Sewell Chairman of the Board and President, The LibertyNational Bank and Trust Company of OklahomaCity, Oklahoma City, Okla 1954

Appointed by Board of Governors:Cecil W. Cotton President, C. W. Cotton Supply Company, Tulsa,

Okla 1953Phil H. Lowery Owner, Lowery Hereford Ranch, Loco, Okla 1954

Omaha BranchAppointed by Federal Reserve Bank:

I. R. Alter President, The First National Bank of Grand Island,Grand Island, Nebr 1953

Ellsworth Moser President, The United States National Bank of Omaha,Omaha, Nebr 1953

William N. Mitten Chairman of the Board and President, First NationalBank of Fremont, Fremont, Nebr 1954

Appointed by Board of Governors:Joe W. Seacrest President, State Journal Company, Lincoln, Nebr 1953Manville Kendrick President, Kendrick Cattle Company, Sheridan, Wyo. 1954

District No. 1 I—Dallas

Class A:W. L. Peterson President, The State National Bank, Denison, Tex 1953P. P. Butler President, First National Bank in Houston, Houston,

Tex 1954J. Edd McLaughlin President, Security State Bank and Trust Company,

Rails, Tex 1955Class B:

Vacancy 1953D. A. Hulcy Chairman of the Board and President, Lone Star Gas

Company, Dallas, Tex 1954J. B. Thomas President and General Manager and Director, Texas

Electric Service Company, Fort Worth, Tex 1955Class C:

Hal Bogle Livestock feeding, farming and ranching, Dexter,N. M 1953

Robert J. Smith President, Pioneer Air Lines, Inc., Dallas, Tex 1954J. R. Parten President, Woodley Petroleum Company, Houston,

Tex 1955


1953



TermExpires


El Paso BranchAppointed by Federal Reserve Bank:

W. H. Holcombe Executive Vice President, Security State Bank, Pecos,Tex 1953

John P. Butler President, First National Bank of Midland, Midland,Tex 1954

J. M. Sakrison President, Southern Arizona Bank & Trust Company,Tucson, Ariz 1954

Thomas C. Patterson Vice President, El Paso National Bank, El Paso, Tex. 1955Appointed by Board of Governors:

D. F. Stahmann Farmer, Las Cruces, N.M 1953Jas. A. Dick, Jr President, James A. Dick Investment Company, El

Paso, Tex 1954E. J. Workman President, New Mexico Institute of Mining and Tech-

nology, Socorro, N.M 1955

Houston BranchAppointed by Federal Reserve Bank:

R. Lee Kempner President, United States National Bank, Galveston,Tex 1953

O. R. Weyrich President, Houston Bank & Trust Company, Houston,Tex 1954

P. R. Hamill President, Bay City Bank & Trust Company, BayCity, Tex 1954

S. Marcus Greer Chairman of Executive Committee, City NationalBank of Houston, Houston, Tex 1955

Appointed by Board of Governors:Herbert G. Sutton T. O. Sutton and Sons, Colmesneil, Tex 1953Ross Stewart Chairman of the Board of Directors, C. Jim Stewart &

Stevenson, Inc., Houston, Tex 1954Charles N. Shepardson Dean of Agriculture, A. & M. College of Texas,

College Station, Tex 1955

San Antonio BranchAppointed by Federal Reserve Bank:

E. R. L. Wroe President, American National Bank, Austin, Tex 1953E. A. Baetz President, Bexar County National Bank, San Antonio,

Tex 1954V. S. Marett President, Gonzales State Bank, Gonzales, Tex 1954Ray M. Keck President, Stockmen's National Bank, Cotulla, Tex... 1955

Appointed by Board of Governors:Edward E. Hale Chairman of the Department and Professor of Econom-

ics, The University of Texas, Austin, Tex 1953Henry P. Drought Attorney at Law, San Antonio, Tex 1954D. Hayden Perry Livestock farming, Robstown, Tex 1955

District No. 12—San Francisco

Class A:Chas. H. Stewart Chairman of the Board, Portland Trust Bank, Port-

land, Ore 1953Carroll F. Byrd President, The First National Bank of Willows,

Willows, Calif 1954John A. Schoonover President, The Idaho First National Bank, Boise,

Idaho 1955


1953



TermExpires


Class B:Alden G. Roach President, Columbia-Geneva Steel Division and Con-

solidated Western Steel Division of United StatesSteel Corporation, San Francisco, Calif 1953

Reese H. Taylor President, Union Oil Company of California, LosAngeles, Calif 1954

Walter S. Johnson President, American Forest Products Corporation,San Francisco, Calif 1955

Class C:William R. Wallace, Jr Member of the firm of Wallace, Garrison, Norton &

Ray, Attorneys at Law, San Francisco, Calif 1953Harry R. Wellman Vice President, Agricultural Sciences, University of

California, Berkeley, Calif 1954Brayton Wilbur President, Wilbur-Ellis Company, San Francisco, Calif. 1955

Los Angeles Branch

Appointed by Federal Reserve Bank:W. R. Bimson President, The Valley National Bank of Phoenix,

Phoenix, Ariz 1953Anderson Borthwick President, The First National Trust and Savings Bank

of San Diego, San Diego, Calif 1954fames E. Shelton President, Security-First National Bank of Los Angeles,

Los Angeles, Calif 1954Appointed by Board of Governors:

Paul H. Helms President, Helms Bakeries, Los Angeles, Calif 1953Bryant Essick President, Essick Manufacturing Company, Los

Angeles, Calif 1954

Portland Branch

Appointed by Federal Reserve Bank:E. C. Sammons President, The United States National Bank of Port-

land, Portland, Ore 1953Frank Wortman President, The First National Bank of McMinnville,

McMinnville, Ore 1954John B. Rogers President, First National Bank of Baker, Baker, Ore. 1954

Appointed by Board of Governors:Aaron M. Frank President, Meier & Frank Company, Inc., Portland,

Ore 1953William H. Steiwer, Sr Rancher, Fossil, Ore 1954

Salt Lake City Branch


Harry Eaton Executive Vice President, Twin Falls Bank and TrustCompany, Twin Falls, Idaho 1953

James W. Collins President, Tracy-Collins Trust Company, Salt LakeCity, Utah. 1954

George S. Eccles President, First Security Bank of Utah, NationalAssociation, Ogden, Utah 1954

Appointed by Board of Governors:Joseph Rosenblatt President, The Eimco Corporation, Salt Lake City,

Utah 1953George W. Watkins President, Snake River Equipment Company, Idaho

Falls, Idaho 1954


1953



TermExpires

DIRECTORS—Cont. Dec. 31Seattle Branch

Appointed by Federal Reserve Bank:Chas. F. Frankland President, The Pacific National Bank of Seattle,

Seattle, Wash 1953George H. Jackson President, First National Bank in Spokane, Spokane,

Wash 1954W. M. Jenkins President, First National Bank of Everett, Everett,

Wash 1954

Appointed hy Board of Governors:D. K. MacDonald President, D. K. MacDonald & Company, Inc.,

Seattle, Wash 1953Ralph Sundquist President and General Manager, Sundquist Fruit &

Cold Storage, Inc., Yakima, Wash 1954


1953

122 A N N U A L REPORT OF BOARD OF GOVERNORS




PresidentFirst Vice President Vice Presidents

Boston.

New York.

Philadelphia

Cleveland.

Richmond.

Atlanta.

Chicago.

St. Louis.

Minneapolis

Kansas C i t y . . . .

Dallas.




W. D. FultonDonald S. Thompson

Hugh LeachEdw. A. Wayne

Malcolm BryanLewis M. Clark


Delos C. JohnsFrederick L. Deming



San Francisco

W. D. Gentry



E. O. Latham

H. A. BilbyH. H. KimballL. W. KnokeA. PhelanH. V. Roelse

Karl R. BoppRobert N. HilkertE. C. HillWm. G. McCreedy

Roger R. ClouseA. H. Laning2

Martin Morrison

N. L. ArmisteadAubrey N. HeflinUpton S. MartinR. W. Mercer2

V. K. BowmanJ. E. DenmarkHarold T. Patterson

Neil B. DawesW. R. DiercksW. A. HopkinsL. H. Jones1

Carl B. PitmanO. A. SchlaikjerR. F. Van Amringe

Robert G. RouseT. G. TieboutV. WillisR. B. WiltseJ. H. Wurts

P. M. PoormanJ. V. Vergari3

Richard G. Wilgus1

H. E. J. SmithPaul C. Stetzelberger

C. B. StrathyK. Brantley WatsonChas. W. Williams

Darryl R. FrancisDale M. LewisWm. E. Peterson

H. C. CoreE. B. LarsonH. G. McConnell

John T. Boysen1

M. W. E. Park

E. B. AustinJ. L. Cook2

Watrous H. Irons


L. B. RaistyEarle L. RauberS. P. Schuessler



J. Marvin PetersonOtis R. PrestonM. H. Strothman, Jr.Sigurd Ueland

Clarence W. TowE. D. VanderhoofD. W. Woolley

L. G. PondromHarry A. Shuford

Ronald T. Symms2

O. P. Wheeler

1 Cashier. a Also Cashier. • Counsel.


1953





New York . . .Cleveland

Richmond

Atlanta

Chicago ,St. Louis

Minneapolis.,Kansas City. ,

Dallas

San Francisco


I. B. SmithR. G. JohnsonJ. W. KossinD. F. HagnerR. L. CherryJohn L. Liles, Jr.T. A. LanfordR. E. Moody, Jr.E. P. ParisR. A. SwaneyC. M. StewartC. A. SchachtPaul E. SchroederC. W. GrothG. A. GregoryR. L. MathesL. H. EarhartC. M. RowlandW. H. HollowayW. E. EagleW. F. VolbergJ. A. RandallW. L. PartnerJ. M. Leisner


The Presidents of the Federal Reserve Banks are organized into a Conference of Presi-dents which meets from time to time to consider matters of common interest and to consultwith and advise the Board of Governors.

Mr. Leach, President of the Federal Reserve Bank of Richmond, and Mr. Gilbert,President of the Federal Reserve Bank of Dallas, who were elected Chairman of the Confer-ence and Vice Chairman, respectively, in February 1952, were re-elected as such in March1953, and continued to serve during 1953, except that Mr. Gilbert retired as President of theFederal Reserve Bank of Dallas, effective September 1, 1953. At the meeting in September1953, Mr. Young, President of the Federal Reserve Bank of Chicago, was elected ViceChairman to succeed Mr. Gilbert.

Mr. Aubrey N. Heflin, Vice President and General Counsel, Federal Reserve Bank ofRichmond, who was appointed Secretary of the Conference in June 1952, was re-elected assuch in March 1953, and continued to serve during 1953.


1953


[December 31, 1954]



Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas City

Dallas

San Francisco



Jay E. Crane

William J. Meinel

John C. Virden

John B. Woodward, Jr

Rufus C. Harris

John S. Coleman

M. Moss Alexander

Leslie N. Perrin

Raymond W. Hall

J. R. Parten

A. H. Brawner

Deputy Chairman

Ames Stevens

William I. Myers

Henderson Supplee, Jr.

Leo L. Rummell

W. G. Wysor

Paul E. Reinhold

Bert R. Prall

Caffey Robertson

Vacancy

Cecil Puckett

Robert J. Smith

Y. Frank Freeman


The Chairmen of the Federal Reserve Banks are organized into a Conference of Chair-men which meets from time to time to consider matters of common interest and to consultwith and advise the Board of Governors.

Mr. Hodgkinson, Chairman of the Federal Reserve Bank of Boston, was elected Chair-man of the Conference and of the Executive Committee in April 1953 and served as suchthrough the meeting held in December 1954. Mr. Virden, Chairman of the Federal ReserveBank of Cleveland, and Mr. Meinel, Chairman of the Federal Reserve Bank of Philadelphia,served with Mr. Hodgkinson as members of the Executive Committee, Mr. Virden alsoserving as Vice Chairman of the Conference.

At the meeting held in December 1954, Mr. Virden was elected Chairman of theConference and of the Executive Committee. Mr. Woodward, Chairman of the FederalReserve: Bank of Richmond, was elected Vice Chairman and a member of the ExecutiveCommittee, and Mr. Crane, Chairman of the Federal Reserve Bank of New York, waselected as the other member of the Executive Committee.


1954



DIRECTORS


The Class A directors are chosen as representatives of member banks and, as a matter ofpractice, are active officers of member banks. The Class B directors may not, under thelaw, be officers, directors, or employees of banks. At the time of their election they must beactively engaged in their district in commerce, agriculture, or some other industrial pursuit.


Federal Reserve Bank branches have either five or seven directors, of whom a majorityarc appointed by the Board of Directors of the parent Federal Reserve Bank and the othersare appointed by the Board of Governors of the Federal Reserve System.


ExpiresDIRECTORS Dec. 31

Class A:Harold I. Chandler Executive Vice President, The Keene National Bank,

Keene, N. H 1954Oliver B. Ellsworth President, Riverside Trust Company, Hartford, Conn.. 1955Lloyd D. Brace President, The First National Bank of Boston, Boston,

Mass 1956Class B.-

Frederick S. Blackall, jr President and Treasurer, The Taft-Peirce Manufactur-ing Company, Woonsocket, R. 1 1954

Harry E. Umphrey President, Aroostook Potato Growers, Inc., PresqueIsle, Me 1955

Harvey P. Hood President, H. P. Hood & Sons, Inc., Boston Mass. . . . . 1956

Class C:Ames Stevens President, Ames Worsted Company, Lowell, Mass.. .. 1954Harold D. Hodgkinson Vice President, General Manager and Chairman of


James R. Killian, Jr President, Massachusetts Institute of Technology,Cambridge, Mass 1956


F. Palmer Armstrong President, The Keyport Banking Company, Keyport,N. J 1954

N. Baxter Jackson Chairman of the Board, Chemical Corn ExchangeBank, New York, N. Y 1955

John R. Evans President, The First National Bank of Poughkeepsie,Poughkeepsie, N. Y 1956

Class B:John E. Bierwirth President, National Distillers Products Corporation,

New York, N. Y 1954Clarence Francis Director and member of Executive Committee, General

Foods Corporation, New York, N. Y 1955Lansing P. Shield President, The Grand Union Company, East Paterson,

N . J 1956


1954



TermExpires


Class C:William I. Myers Dean, New York State College of Agriculture, Cornell

University, Ithaca, N. Y 1954Franz Schneider New York,N. Y 1955Jay E. Crane Vice President, Standard Oil Company (New Jersey),

New York, N. Y 1956

Buffalo BranchAppointed by Federal Reserve Bank:

Lewis G. Harriman Chairman of the Board, Manufacturers and TradersTrust Company, Buffalo, N. Y 1954


Edward P. Vreeland President, Salamanca Trust Company, Salamanca,N. Y 1955

Robert L. Davis President, The First National Bank of Olean, Olean,N. Y 1956

Appointed by Board of Governors:Clayton G. White Dairy farmer, Stow, N. Y 1954Edgar F. Wendt President, Buffalo Forge Company, Buffalo, N. Y 1955Robert C. Tait President, Stromberg-Carlson Company, Rochester,

N. Y 1956

District No. 3—-PhiladelphiaClass A:

Wadsworth Cresse Executive Vice President and Trust Officer, The FirstNational Bank and Trust Company, Woodbury, N. J. 1954

Bernard C. Wolfe President, The First National Bank of Towanda,Towanda, Pa 1955

Wm. Fulton Kurtz Chairman of the Board, The Pennsylvania Companyfor Banking and Trusts, Philadelphia, Pa 1956

Class B.-Andrew Kaul, III President and Director, Speer Carbon Company, St.

Marys, Pa 1954Charles E. Oakes President, Pennsylvania Power and Light Company,

Allentown, Pa 1955Warren C. Newton President, O. A. Newton and Son Company, Bridge-

ville, Del 1956Class C:

William J. Meinel President and Chairman of the Board, Heintz Manu-facturing Company, Philadelphia, Pa 1954

Henderson Supplee, Jr President, The Atlantic Refining Company, Phila-delphia, Pa .' 1955

Lester V. Chandler Professor of Economics, Princeton University, Prince-ton, N. J 1956


Edison Hobstetter President, The Pomeroy National Bank, Pomeroy,Ohio 1954

John D. Bainer President, The Merchants National Bank and TrustCompany of Meadville, Meadville, Pa 1955

J. Brenner Root President, The Harter Bank & Trust Company, Canton,Ohio 1956


1954



TermExpires


Class B:Joel M. Bowlby Chairman of the Board, The Eagle-Picher Company,

Cincinnati, Ohio 1954Edward C. Doll President, Lovell Manufacturing Company, Erie, Pa... 1955Alexander E. Walker Chairman of the Board, The National Supply Company,

Pittsburgh, Pa 1956

Class C:Leo L. Rummell Dean, College of Agriculture, The Ohio State Univer-

sity, Columbus, Ohio 1954Sidney A. Swensrud Chairman of the Board, Gulf Oil Corporation, Pitts-

burgh, Pa 1955John C. Virden Chairman of the Board, John C. Virden Company,

Cleveland, Ohio 1956

Cincinnati BranchAppointed by Federal Reserve Bank:

Joseph B. Hall President, The Kroger Company, Cincinnati, Ohio 1954E. S. Dabney President, Security Trust Company, Lexington, Ky 1954Fred A. Dowd President, The First National Bank of Cincinnati,

Cincinnati, Ohio 1955Leonard M. Campbell President, The Second National Bank of Ashland, Ash-

land, Ky 1956Appointed by Board of Governors:

John C. Baker President, Ohio University, Athens, Ohio 1954Henry C. Besuden Farmer, Winchester, Ky 1955Anthony Haswell President, The Dayton Malleable Iron Company,

Dayton, Ohio 1956

Pittsburgh BranchAppointed by Federal Reserve Bank:

William B. McFall President, Commonwealth Trust Company of Pitts-burgh, Pittsburgh, Pa 1954

John C. Warner President, Carnegie Institute of Technology, Pitts-burgh, Pa I954

Paul Malone President, The Second National Bank of Uniontown,Uniontown, Pa I955

Albert L. Rasmussen President, The Warren National Bank, Warren, Pa 1956


Clifford F. Hood President, United States Steel Corporation, Pittsburgh,Pa 1954

Douglas M. Moorhead Farmer, North East, Pa I955Henry A. Roemer, Jr President, Sharon Steel Corporation, Sharon, Pa 1956



Warren S. Johnson Investment Counselor, Peoples Savings Bank & TrustCompany, Wilmington, N. C 1955

John A. Sydenstricker Executive Vice President, First National Bank inMarlinton, Marlinton, W. Va 1956


1954



TermExpires


Class B.-Edwin Hyde President, Miller & Rhoads, Inc., Richmond, Va 1954H. L. Rust, Jr President, H. L. Rust Company, Washington, D. C... 1955W. A. L. Sibley Vice President and Treasurer, Monarch Mills, Union,

S. C 1956Class C:

W. G. Wysor Management Counsel, Southern States Cooperative,Inc., Richmond, Va 1954

John B. Woodward, Jr Chairman of the Board, Newport News Shipbuilding& Dry Dock Company, Newport News, Va 1955

Alonzo G. Decker, Jr Vice President, The Black & Decker ManufacturingCompany, Towson, Md 1956

Baltimore BranchAppointed by Federal Reserve Bank:


Lacy I. Rice President, The Old National Bank, Martinsburg,W. Va 1955

Stanley B. Trott President, Maryland Trust Company, Baltimore, Md... 1955Charles W. Hoff President, Union Trust Company of Maryland, Balti-

more, Md 1956Appointed by Board of Governors:

Clarence R. Zarfoss Vice President, Western Maryland Railway Company,Baltimore, Md 1954

Howard M. Taylor, Jr President, International Bedding Company, Baltimore,Md 1955

Theodore E. Fletcher, Sr Senior Partner, Albert W. Sisk & Son, Preston, Md 1956

Charlotte BranchAppointed by Federal Reserve Bank:


George S. Crouch Chairman of the Board, The Union National Bank,Charlotte, N. C 1955

Jonathan Woody President, First National Bank, Waynesville, N. C. . . . 1955Archie K. Davis Senior Vice President, Wachovia Bank and Trust

Company, Winston-Salem, N. C 1956Appointed by Board of Governors:

Paul T. Taylor President, Taylor Warehouse Company, Winston-Salem, N. C 1954

T. Henry Wilson President & Treasurer, Henredon Furniture Industries,Inc., Morganton, N. C 1955

William H. Grier Executive Vice President, Rock Hill Printing &Finishing Company, Rock Hill, S. C 1956


W. C. Bowman Chairman of the Board, TheFirst National Bank ofMontgomery, Montgomery, Ala 1954


Roland L. Adams President, Bank of York, York, Ala 1956


1954



TermExpires


Class B:

Pollard Turman President, J. M. Tull Metal & Supply Company, Inc.,Atlanta, Ga 1954

Donald Comer Chairman of the Board, Avondale Mills, Birmingham,Ala 1955

A. B. Freeman Chairman of the Board, Louisiana Coca-Cola BottlingCompany, Ltd., New Orleans, La 1956

Class C:

Paul E. Reinhold Chairman of the Board, Foremost Dairies, Inc., Jack-sonville, Fla 1954

Rufus C. Harris President, The Tulane University of Louisiana, NewOrleans, La 1955

Harllee Branch, Jr President, Georgia Power Company, Atlanta, Ga 1956

Birmingham Branch


Malcolm A. Smith First Vice President, Birmingham Trust National Bank,Birmingham, Ala 1954

John B. Barnett, Jr President, The Monroe County Bank, Monroeville,Ala 1955

Frank M. Moody Vice President, The First National Bank of Tuskaloosa,Tuscaloosa, Ala 1955

John Will Gay President, The First National Bank of Scottsboro,Scottsboro, Ala 1956


Edwin C. Bottcher Farmer, Cullman, Ala 1954Thad Holt Investments, Birmingham, Ala 1955Adolf Weil, Sr President, Weil Brothers-Cotton, Inc., Montgomery,

Ala 1956

Jacksonville Branch


G. W. Reese President, The Citizens and Peoples National Bank ofPensacola, Pensacola, Fla 1954

Frank W. Norris President, The Barnett National Bank of Jacksonville,Jacksonville, Fla 1955

J. Carlisle Rogers President, The First National Bank of Leesburg, Lees-burg, Fla 1955

T. A. Davis, Jr President, Pan American Bank of Miami, Miami, Fla... 1956


J. Wayne Reitz Provost for Agriculture, University of Florida, Gaines-ville, Fla 1954

Harry M. Smith President and Manager, Winter Garden OrnamentalNursery, Inc., Winter Garden, Fla 1955

McGregor Smith Chairman of the Board and Director, Florida Power andLight Company, Miami, Fla 1956

Nashville BranchAppointed by Federal Reserve Bank:

Sam M. Fleming President, Third National Bank in Nashville, Nash-ville, Tenn 1954

James V. Sprouse President, The First National Bank of Springfield,Springfield, Tenn 1955


1954



TermExpires


T. R. Keys President, Erwin National Bank, Erwin, Tenn 1955W. E. Tomlinson President, The Hamilton National Bank of Johnson

City, Johnson City, Tenn 1956


H. C. Meacham Farming, Franklin, Tenn 1954Ernest J. Moench President, Tennessee Tufting Company, Nashville,

Tenn 1955Frank B. Ward Dean, College of Business Administration, University

of Tennessee, Knoxville, Tenn 1956

New Orleans BranchAppointed by Federal Reserve Bank:

Philip C. Williams President, Bank of Yazoo City, Yazoo City, Miss 1954Keehn W. Berry President, Whitney National Bank of New Orleans,

New Orleans, La 1955James T. Brown Chairman of the Board, First National Bank of Jackson,

Jackson, Miss 1955Leon J. Minvielle President, The Peoples National Bank of New Iberia,

New Iberia, La 1956Appointed by Board of Governors:

Joel L. Fletcher, Jr President, Southwestern Louisiana Institute, Lafa-yette, La 1954

E. O. Batson President, Batson-McGehee Company, Inc., Millard,Miss 1955

E. E. Wild Rice grower, Midland, La 1956


Walter J. Cummings Chairman, Continental Illinois National Bank andTrust Company of Chicago, Chicago, 111 1954

Nugent R. Oberwortmann.. .President, The North Shore National Bank of Chicago,Chicago, 111 1955

Vivian W. Johnson President, First National Bank, Cedar Falls, Iowa. . . . 1956

Class B:Walter E. Hawkinson Vice President in Charge of Finance, and Secretary,

Allis-Chalmers Manufacturing Company, Mil-waukee, Wis 1954

William J. Grede President, Grede Foundries, Inc., Milwaukee, Wis.. . . 1955William A. Hanley Director, Eli Lilly and Company, Indianapolis, Ind 1956

Class C:Bert R. Prall President, Butler Bros., Chicago, 111 1954John S. Coleman President, Burroughs Corporation, Detroit, Mich 1955J. Stuart Russell Farm Editor, The Des Moines Register and Tribune,

Des Moines, Iowa 1956

Detroit BranchAppointed by Federal Reserve Bank:

Howard P. Parshall President, Bank of the Commonwealth, Detroit, Mich. 1954John A. Stewart Vice President and Cashier, Second National Bank &

Trust Company, Saginaw, Mich 1954Raymond T. Perring President, The Detroit Bank, Detroit, Mich 1955


1954



TermExpires


Ira A. Moore President, Peoples National Bank of Grand Rapids,Grand Rapids, Mich 1956

Appointed by Board of Governors:John A. Hannah President, Michigan State College, East Lansing, Mich. 1954William M. Day Vice President and General Manager, Michigan Bell

Telephone Company, Detroit, Mich 1955Watson H. Vanderploeg President, Kellogg Company, Battle Creek, Mich 1956


Phil E. Chappell President, Planters Bank & Trust Company, Hopkins-ville, Ky 1954

J. E. Etherton President, The Carbondale National Bank, Carbondale,111 1955

William A. McDonnell President, First National Bank in St. Louis, St. Louis,Mo 1956

Class B.-Leo J. Wieck Vice President and Treasurer, The May Department

Stores Company, St. Louis, Mo 1954S. J. Beauchamp, Jr President, Terminal Warehouse Company, Little Rock,

Ark 1955Louis Ruthenburg Chairman of Board, Servel, Inc., Evansville, Ind 1956

Class C:Joseph H. Moore Farmer, Charleston, Mo 1954Caffey Robertson President, CafFey Robertson Company, Memphis, Tenn. 1955M. Moss Alexander President, Missouri Portland Cement Company, St.

Louis, Mo 1956

Little Rock BranchAppointed by Federal Reserve Bank:

H. C. McKinney, Jr President, The First National Bank of El Dorado, ElDorado, Ark 1954

Thos. W. Stone President, The Arkansas National Bank of Hot Springs,Hot Springs, Ark 1954

Harvey C. Couch, Jr President, Union National Bank of Little Rock, LittleRock, Ark 1955

Donald Barger President, Peoples Exchange Bank, Russellville, Ark... 1956

Appointed by Board of Governors:Shuford R. Nichols Farmer, Ginner and Cotton Broker, Des Arc, Ark 1954A. Howard Stebbins, Jr President, Stebbins and Roberts, Inc., Little Rock, Ark. 1955Sam B. Strauss President, Pfeifers of Arkansas, Little Rock, Ark • • 1956

Louisville BranchAppointed by Federal Reserve Bank:

M. C. Minor President, The Farmers National Bank of Danville,Danville, Ky 1954

Ira F. Wilcox President, The Union National Bank of New Albany,New Albany, Ind 1954

Magnus J. Kreisle President, The Tell City National Bank, Tell City, Ind. 1955Noel Rush President, Lincoln Bank and Trust Company, Louis-

ville, Ky 1956


1954



TermExpires

DiREcroits—Cont. Dec. 31


Pierre B. McBride President, Porcelain Metals Corporation, Louisville,Ky 1954

Smith Broadbent, Jr Farmer, Cadiz, Ky 1955David F. Cocks Vice President and Treasurer, Standard Oil Company

(Kentucky), Louisville, Ky 1956

Memphis BranchAppointed by Federal Reserve Bank:

John A. McCall President, The First National Bank of Lexington,Lexington, Tenn 1954

William B. Pollard President, National Bank of Commerce in Memphis,Memphis, Tenn 1954

Ben L. Ross Chairman of Board, Phillips National Bank, Helena,Ark 1955

John K. Wilson President, The First National Bank of West Point,West Point, Miss 1956

Appointed by Board of Governors:A. E. Hohenberg President, Hohenberg Bros. Company, Memphis, Tenn. 1954Henry Banks Farmer, Clarkedale, Ark 1955John D. Williams Chancellor, The University of Mississippi, University,

Miss 1956


John W. Scott President, The First State Bank of Gil by, Gilby, N. D.. 1954Edgar F. Zelle Chairman of the Board, First National Bank of Minnea-

polis, Minneapolis, Minn 1955Harold N. Thomson Vice President, Farmers and Merchants Bank, Presho,

S. D 1956Class B.-

Ray C. Lange President, Chippewa Canning Company, Inc., Chip-pewa Falls, Wis 1954


J. E. Corette President and General Manager, Montana PowerCompany, Butte, Mont 1956

Class C:Vacancy 1954F. Albae Flodin President and General Manager, Lake Shore Engineer-

ing Company, Iron Mountain, Mich 1955Leslie N. Perrin Director, General Mills, Inc., Minneapolis, Minn 1956

Helena BranchAppointed by Federal Reserve Bank:

J. Wilkrd Johnson Financial Vice President and Treasurer, Western LifeInsurance Company, Helena, Mont 1954

Geo. N. Lund Chairman of the Board and President, The First Na-tional Bank of Reserve, Reserve, Mont 1954

A. W. Heidel Vice President, Powder River County Bank, Broadus,Mont 1955


Carl McFarland President, Montana State University, Missoula, Mont. 1954George R. Milburn Manager, N Bar Ranch, Grass Range, Mont 1955


1954

FEDERAL RESERVE SYSTEM 1 1 1


TermExpires



Harold Kountze President, The Colorado National Bank of Denver,Denver, Colo 1954

W. S. Kennedy President and Chairman of the Board, The First Na-tional Bank of Junction City, Junction City, Kan. . . . 1955

W. L. Bunten President, Goodland State Bank, Goodland, Kan 1956

Class B:

Max A. Miller Livestock rancher, Omaha, Neb 1954E. M. Dodds President, United States Cold Storage Corporation,

Kansas City, Mo 1955K. S. Adams Chairman of the Board, Phillips Petroleum Company,

Bartlesville, Okla 1956Class C:

Lyle L. Hague Farmer and stockman, Cherokee, Okla 1954Raymond W. Hall Vice President and Director, Hall Brothers, Inc.,

Kansas City Mo 1955Cecil Puckett Dean, College of Business Administration, University

of Denver, Denver, Colo 1956

Denver BranchAppointed by Federal Reserve Bank:

Ralph S. Newcomer Executive Vice President, First National Bank inBoulder, Boulder, Colo 1954

Arthur Johnson President, First National Bank in Raton, Raton,N. Mex 1954

Merriam B. Berger Vice President, The Colorado National Bank of Denver,Denver, Colo 1955

Appointed by Board of Governors:G. Norman Winder Rancher, Craig, Colo 1954Aksel Nielsen President, The Title Guaranty Company, Denver, Colo. 1955

Oklahoma City BranchAppointed by Federal Reserve Bank:

F. M. Overstreet President, The First National Bank at Ponca City,Ponca City, Okla 1954

Frank A. Sewell Chairman of the Board and President, The LibertyNational Bank and Trust Company of OklahomaCity, Oklahoma City, Okla .' 1954


Appointed by Board of Governors:Phil H. Lowery Owner, Lowery Hereford Ranch, Loco, Okla 1954Davis D. Bovaird President, The Bovaird Supply Company, Tulsa, Okla.. 1955

Omaha BranchAppointed by Federal Reserve Bank:

William N. Mitten Chairman of the Board and President, First NationalBank of Fremont, Fremont, Neb 1954

Ellsworth Moser President, The United States National Bank of Omaha,Omaha, Neb 1955

George J. Forbes Executive Vice President, The First National Bank ofLaramie, Laramie, Wyo 1955


1954



TermExpires


Appointed by Board of Governors:Manville Kendrick Rancher, Sheridan, Wyo 1954Gilbert C. Swanson Chairman of the Board, C. A. Swanson & Sons, Omaha,

Neb 1955


P P. Butler President, First National Bank in Houston, Houston,Tex 1954

J. Edd McLanghlin President, Security State Bank & Trust Company, Rails,Tex 1955

W. L. Peterson President, The State National Bank of Denison, Deni-son, Tex 1956

Class B:D. A. Hulcy Chairman of the Board and President, Lone Star Gas

Company, Dallas, Tex 1954J. B. Thomas President and General Manager and Director, Texas

Electric Service Company, Fort Worth, Tex 1955John R. Alford Industrialist and Farmer, Henderson, Tex 1956

Class C:Robert J. Smith President, Pioneer Air Lines, Inc., Dallas, Tex 1954J. R. Parten President, Woodley Petroleum Company, Houston,

Tex 1955Hal Bogle Rancher and Feeder, Dexter, N. Mex 1956

El Paso BranchAppointed by Federal Reserve Bank:

John P. Butler President, The First National Bank of Midland, Mid-land, Tex 1954

J. M. Sakrison President, Southern Arizona Bank and Trust Company,Tucson, Ariz 1954

Thomas C. Patterson Vice President, El Paso National Bank, El Paso, Tex... 1955F. W. Barton President, The Marfa National Bank, Marfa, Tex 1956

Appointed by Board of Governors:Tames A. Dick President, James A. Dick Investment Company, El

Paso, Tex 1954E. J. Workman President, and Director of Research and Development

Division, New Mexico Institute of Mining andTechnology, Socorro, N. Mex 1955

D. F. Stahmann Farmer, Las Cruces, N. Mex 1956

Houston BranchAppointed by Federal Reserve Bank:

O R. Weyrich President, Houston Bank & Trust Company, Houston,Tex 1954

P R. Hamill President, Bay City Bank & Trust Company, Bay City,Tex 1954

S. Marcus Greer Chairman of Executive Committee, The City NationalBank of Houston, Houston, Tex 1955

I. F. Betts President, The American National Bank of Beaumont,Beaumont, Tex 1956


1954



TermExpires



Ross Stewart Chairman of the Board of Directors, Stewart & Steven-son Services, Inc., Houston, Tex 1954

Charles N. Shepardson Dean of Agriculture, A. & M. College of Texas,College Station, Tex 1955

Herbert G. Sutton T. O. Sutton and Sons, Colmesneil, Tex 1956

San Antonio BranchAppointed by Federal Reserve Bank:

E. A. Baetz President, Bexar County National Bank of San Antonio,San Antonio, Tex 1954

V. S. Marett President, Gonzales State Bank, Gonzales, Tex 1954Burton Dunn President, The Corpus Christi National Bank, Corpus

Christi, Tex 1955E. C. Breedlove President, The First National Bank, Harlingen, Tex... 1956


Henry P. Drought Attorney at Law, San Antonio, Tex 1954D. Hayden Perry Livestock farming, Robstown, Tex 1955Clarence E. Ayres Professor of Economics, The University of Texas,

Austin, Tex 1956



John A. Schoonover President, The Idaho First National Bank, Boise, Idaho 1955M. Vilas Hubbard President and Chairman of the Board, Citizens Com-

mercial Trust and Savings Bank of Pasadena, Pasa-dena, Calif 1956

Class B:Reese H. Taylor President, Union Oil Company of California, Los

Angeles, Calif 1954Walter S. Johnson President, American Forest Products Corporation, San

Francisco, Calif 1955Alden G. Roach President, Columbia-Geneva Steel Division and Con-

solidated Western Steel Division, of United StatesSteel Corporation, San Francisco, Calif 1956

Class C:Harry R. Wellman Vice President, Agricultural Sciences, University of

California, Berkeley, Calif 1954Y. Frank Freeman Vice President, Paramount Pictures Corporation,

Hollywood, Calif 1955A. H. Brawner President, W. P. Fuller & Company, San Francisco,

Calif 1956

Los Angeles BranchAppointed by Federal Reserve Bank:

Anderson Borthwick President, The First National Trust and Savings Bankof San Diego, San Diego, Calif 1954

James E. Shelton President, Security-First National Bank of Los Angeles,Los Angeles, Calif 1954

Hugh C. Gruwell President, First National Bank of Arizona, Phoenix,Ariz 1955


1954



TermExpires


Appointed by Board of Governors:Bryant Essick President, Essick Manufacturing Company, Los

Angeles, Calif 1954Paul H. Helms President, Helms Bakeries, Los Angeles, Calif 1955

Portland BranchAppointed by Federal Reserve Bank:

Frank Wortman President, The First National Bank of McMinnville,McMinnville, Ore 1954

John B. Rogers President, The First National Bank of Baker, Baker,Ore 1954

E. C. Sammons President, The United States National Bank of Port-land, Portland, Ore 1955

Appointed by Board of Governors:William H. Steiwer, Sr Livestock and farming, Fossil, Ore 1954Philip I. Welk President, Preston-Shaffer Milling Company, Walla

Walla, Wash ' 1955

Salt Lake City BranchAppointed by Federal Reserve Bank:

Russell S. Hanson Vice President and Cashier, The First National Bankof Logan, Logan, Utah 1954

George S. Eccles President, First Security Bank of Utah, National As-sociation, Ogden, Utah. Salt Lake City, Utah 1954

Harry Eaton Executive Vice President, Twin Falls Bank and TrustCompany, Twin Falls, Idaho 1955

Appointed by Board of Governors:Geo. W. Watkins President, Snake River Equipment Company, Idaho

Falls, Idaho 1954Joseph Rosenblatt President, The Eimco Corporation, Salt Lake City,

Utah 1955

Seattle BranchAppointed by Federal Reserve Bank:

Vacancy 1954S. B. Lafromboise President, The First National Bank of Enumclaw,

Enumclaw, Wash 1954Charles F. Frankland President, The Pacific National Bank of Seattle,

Seattle, Wash 1955Appointed by Board of Governors:

Ralph Sundquist Fruit Grower and Cold Storage Operator, Yakima,Wash 1954

D K. MacDonald Chairman of the Board, D. K. MacDonald & Company,Inc., Seattle, Wash 1955


1954





Boston.

New York.

Philadelphia..

Cleveland

Richmond.

Atlanta.

Chicago.

St. Louis

Minneapolis..

Kansas City. .

Dallas

San Francisco.





W. D. FultonDonald S. Thompson

Hugh LeachEdw. A. Wayne

Malcolm BryanLewis M. Clark


Delos C. JohnsFrederick L. Deming



Watrous H. IronsW. D. Gentry


Vice Presidents

Robert B. Harvey2 Carl B. PitmanE. O. Latham O. A. Schlaikjer

R. F. Van Amringe

H. A. BilbyJohn ExterH. H. KimballA. PhelanH. V. Roelse

Robert G. RouseT. G. TieboutV. WillisR. B. WiltseJ. H. Wurts

Karl R. Bopp P. M. PoormanRobert N. Hilkert J. V. Vergari3

E. C. Hill Richard G. Wilgus1

Wm. G. McCreedy

Dwight L. AllenRoger R. ClouseA. H. Laning2

N. L. ArmisteadAubrey N. HeflinUpton S. MartinJ. M. Nowlan1

Martin MorrisonH. E. J. SmithPaul C. Stetzelberger

James M. SlayC. B. StrathyChas. W. Williams

V. K. Bowman L. B. RaistyJ. E. Denmark Earle L. RauberJohn L. Liles, Jr.2 S. P. SchuesslerHarold T. Patterson

Neil B. DawesW. R. DiercksW. A. HopkinsL. H. Jones1

Dale M. LewisWm. E. Peterson

E. B. LarsonH. G. McConnell

John T. Boysen1

Clarence W. Tow

E. B. AustinJ. L. Cook2

T. W. Plant




Otis R. PrestonM. H. Strothman, Jr.Sigurd Ueland

E. D. VanderhoofD. W. Woolley

L. G. PondromMorgan H. RiceHarry A. Shuford

Eliot J. Swan2

O. P. Wheeler

1 Cashier. 2Also Cashier. 3 Counsel.


1954





New York . . .Cleveland. . ..

Richmond

Atlanta

ChicagoSt. Louis

Minneapolis.,Kansas City. .

Dallas

San Francisco


I. B. SmithR. G. JohnsonJ. W. KossinD. F. HagnerR. L. CherryH. C. FrazerT. A. LanfordR. E. Moody, Jr.M. L. ShawR. A. SwaneyFred BurtonV. M. LongstreetDarryl R. FrancisC. W. GrothG. A. GregoryR. L. MathesP. A. DebusC. M. RowlandW. H. Holloway\V. E. EagleW. F. VolbergJ. A. RandallW. L. PartnerJ. M. Leisner


The Presidents of the Federal Reserve Banks are organized into a Conference ofPresidents which meets from time to time to consider matters of common interest and toconsult with and advise the Board of Governors.

Mr. Leach, President of the Federal Reserve Bank of Richmond, who was elected Chair-man of the Conference in February 1952, was re-elected as such in March 1953 and con-tinued to serve until March 1954. Mr. Young, President of the Federal Reserve Bank ofChicago, was elected Vice Chairman in September 1953, to succeed Mr. Gilbert, who retiredas President of the Federal Reserve Bank of Dallas. Mr. Young continued to serve as ViceChairman until March 1954.

Mr. Aubrey N. Heflin, Vice President and General Counsel, Federal Reserve Bank ofRichmond, who was elected Secretary of the Conference in June 1952, was re-elected assuch in March 1953, and continued to serve until March 1954.

At the meeting held in March 1954, Mr. Young, President of the Federal Reserve Bankof Chicago, and Mr. Earhart, President of the Federal Reserve Bank of San Francisco, wereelected Chairman of the Conference and Vice Chairman, respectively, and served as suchduring 1954.

Mr. Robert C. Holland, an Economist at the Federal Reserve Bank of Chicago, waselected Secretary of the Conference at the meeting held in March 1954, and served as suchduring 1954.


1954

Documents

41518_1950-1954