Election of Directors
December 2, 1998
Circular No. 11114

(By member banks classified in Group 2 on October 26, 1998, that is, member banks with
capital and surplus of $30 million to $1 billion, inclusive, on that date)

To the Member Banks of the Second Federal Reserve District:

In accordance with section 4 of the Federal Reserve Act, as amended, and Circular No. 11106, dated October 26, 1998, on the nomination of directors of this Bank for terms of office ending December 31, 2001, to succeed Robert G. Wilmers, class A director, and Ronay Menschel, class B director, whose terms expire December 31, 1998, there shown are the names of the candidates nominated for such offices, and by whom nominated (pdf - 11kb).

To each member bank classified in Group 2 on October 26, 1998, the following are being sent with this circular:

(a) Ballot for use in voting for candidates for class A director and class B director.

(b) Pink ballot envelope in which the ballot is to be sealed.

(c) Certificate envelope bearing on its face the certificate in regard to the vote.

(d) Addressed envelope in which all of the foregoing should be returned to me.

The ballot and the certificate on the certificate envelope must be executed by an officer who has been authorized to cast the vote. A list of the officers designated for this purpose by the member banks in Group 2 was contained in the above-mentioned circular dated October 26, 1998; the list (pdf - 72kb) is also contained herein. In order that the ballot may be secret, the name of the bank and the name and title of the voting officer should not be written on the ballot, but should be written only on the certificate envelope.

(1) The ballot should be marked.

(2) The marked ballot should be placed in the pink ballot envelope and that envelope sealed.

(3) Then the sealed pink ballot envelope should be placed within the certificate envelope, and the certificate envelope should be sealed and the certificate thereon executed.

(4) Then the certificate envelope containing the sealed pink ballot envelope should be returned to me in the enclosed addressed envelope.

The law provides that the ballot shall be cast within 15 days after receipt of the list of candidates transmitted herewith. The polls will open at 10 a.m., December 3, 1998, and will close at 12 noon on Friday, December 18, 1998, and in order to be counted as valid the ballot must be received at or before the latter time. Upon the closing of the polls the ballot box will be opened, the votes counted and checked by tellers, and the results of the election announced. The candidates may, if they so desire, be present or represented on this occasion.

Because banks in Groups 1 and 3 will not vote in this election, this circular is sent to them without forms and for their information only.