July 14, 1955

To . Ill Banks in theEighth Federal Reserve D istrict:

The Board of Directors of the Federal Reserve Bank of St. Louis, at its regular meeting on July 14, appointed four new officers and promoted two others, all apointmcnts to become effective August 1,1955.

William J. Abbott, Jr. was appointed Vice President; Guy S. Freutel, Marvin L. Bennett and William E. Walker were named Assistant Vice Presi­dents; Sherley C. Davis and Wilbur H. Isbell were appointed Assistant Managers at the Little Rock and Memphis Branches, respectively.

Mr. Abbott joined the Research Department of the Bank in 1948 as Finan­cial Economist. He became Manager of the Department in 1951 and Director of Research in 1952. He is a graduate of the University of Missouri, attended the Graduate School of Business of Harvard University, and received the degree of Ph.D. in economics from Washington University (St. Louis).

Mr. Bennett has been serving as Assistant Manager of the Little Rock Branch since July, 1952. He has been with the Bank since 1933, spending most of his Federal Reserve career at St. Louis. He is a graduate of the Central States School of Banking at Madison, Wisconsin.

Mr. Davis, who will succeed Mr. Bennett at Little Rock, joined the staff of the Louisville Branch in 1932 and has served in various capacities at that office and in St. Louis. He is a graduate of the Graduate School of Banking at Rutgers, New Jersey.

Mr. Freutel joins the Bank as a new officer. He has been on the economics faculty of Washington University and has served as a consultant to the Research Department of the Bank for the past several years. He is a graduate of the Univer­sity of California at Los Angeles and has attended the Graduate School of Harvard University.

Mr. Walker was employed by the Federal Reserve Bank in 1943 after about 20 years in commercial banking. For the past few years he has been Manager of the Field Service Department. He is a graduate of the Central States School of Banking.

Mr. Isbell will go to Memphis to succeed Mr. Stanley K. Belcher who retires from service early this fall. After several years of commercial banking experience, he joined the Examination Department of the Bank in 1943 and has served in various examination capacities during the past twelve years.

FE D ER AL RESERVE BA N K O F ST. LO U IS

St . L o u is 2 . M is s o u r i

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