The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-27
WOODWARD CHOSEN
FOR RESERVE BANK
President of Hanover National
Heads List Of Direc-
tors Selected.
GROUPS BALLOT TOGETHER
Henry X. TOwne, T.. II. Outer
bridge, II. II. fireman and f. F.
Peabody Also in List.

The three committees representing the
Banks IN Groups 1. and 3 Of the Fed
eral Reserve Bank OF this State APP
pointed last week to suggest candidates
for directors OF Glass a and Glass Il OF
the bank soon to be established here met
yesterday at the New York Clearing
House. After the meeting statement was
given out that the men suggested as cam
didates for Glass A OF the three groups
were all members of Group and that OF
the candidates suggested for directors OF
Class - for the three groups those APP
pointed by Groups and 2 were repre-
sentative of large interests.
Group failed to suggest any candi-
dates for Glass y directors. Another
meeting for that purpose will be held
during the week. The nominations were
unanimous. II was said.
Those selected az candidates for drec-
tors Of Group 1 are William Woodward.
president OF the Hanover National Bank
rs candidate for director OF Class A {.
Henry H. Towne of the Yale Il Towne
Manufacturing Company and former pres
ident OF the Merchants Association and
Eugenius H. Outerbridge OF Harvey q
Outerbrdge as candidates for directors
OF Glass b.
Robert II. fireman Chosen.
The candidates for directors OF Group
2 were Robert II. fireman of the Tonp-
tins County National Bank OF Ithaca,
~. T., and president of the New York
State Bankers Association. for director OF
Glass A; n. r. Peabody of Cluett. Pea
body x Co. Inc. OF Troy, y. Y. and
William Brewster, carriage manufacture
Of Long Island city, as directors OF
Glass Il.
The candidate for director Of Glass 4
OF Group is Franklin II. Locke. president
OF the Manufacturers and Trnders Ma
tional Bank of Buffalo. The candidates
for directors of Glass II in this group will
be nominated later in the week.
The nominations OF bankers OF Group
J. representing banks with "A captaliza-
ton and surplus OF $4,000 OF over. as
candidates for directors OF Class 4 for
Groups and 3. was somewhat OF sur
prise to the financial district. in view
Of tho attitude displayed by Group last
week, when it was evidently on the alert
70 resent anything which might seem
TO smack Of dictation from the New York
city banks.
II was generally conceded. however,
that the committee of the various groups
realized what a big job the office of Direc-
tor of the Federal Reserve Bank OF this
state would be and forgot their sectional
differences in an effort to give the re-
serve bank of the second district men
who would be entirely capable of direct
Ing its affairs
Committees Vote Together.
The method OF procedure was as fol
lows The committee appointed to rep
resent each group met and decided upor
the names OF the candidates II wished
20 suggest as directors for Its own group
When a group committee had decided
upon the candidates which II wished &c
nominate for directors OF both classe:
81 reported its choice TO the other TWO
committees, and the names were votec
upon by the three committees TINS
gave each group "A chance to select 1t;
own candidates and then TO submit then
90 the approval OF the representatives o.
the other groups
The nominations will now be sent Z
the various banks of the state for thell
approval. within IL short time the organ
isation committee will send to the nationa
banks throughout the State ballots oil
which they will specify their choice 10
the directors OF the two classes OF tn
-