Robert P. Black, recently retired president of the Federal Reserve Bank of Richmond, has been elected to the board of directors of America's Utility Fund, the nation's first installment-purchase mutual fund available through electric power bills.

Mr. Black was an assistant professor at the University of Tennessee before he joined the bank in 1956 as an economist.

He sits on several boards, including those of Media General Corp. and T. Rowe Price taxable fixed-income mutual funds.

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