FEDERAL RESERVE SYSTEM. CHAIRMEN OF FEDERAL RESERVE DISTRICTS. FRONT ROW: FREDERICK H. CURTISS, BOSTON, DIST 1; PIERRE JAY, NEW YORK CITY, DIST. 2; RICHARD L. AUSTIN, PHILADELPHIA, DIST. 3; D.C. WILLS, BELLEVUE, PA, DIST. 4; WILLIAM INGLE, BALTIMORE, DIST. 5; M.B. WILLBORN, ANNISTON, ALA., DIST. 6; BACK ROW: C.H. BOSWORTH, CHICAGO, DIST. 7; A.E. RAMSEY, MUSKOGEE, OKLA., DIST. 10; E.O. TENNISON, DALLAS, DIST. 11; JOHN PERRIN, SAN FRANCISCO, DIST. 12