Monday, Jan. 05, 1931
Personnel
Last week the following cnanges wer news:
Joseph J. Weiss was elected a vice president of Kansas City Southern Railway succeeding G. C. Hand who resigned in huff last November. Mr. Hand is suing K. C. S., also its directors and officer: charging that the company lost money in attempting to merge with Missouri Kansas-Texas Railway and St. Louis Southwestern Railway, and that its directors profited through stock transactions at that time.
James G. Cloud was made chairman of Sun-ray Oil Corp.
Alvin E. Dodd, assistant to President Robert E. Wood of Sears, Roebuck & Co. resigned to become assistant to President Albert H. Morrill of Kroger Grocery & Baking Co.
William C. McDuffie, president of $31,000,000-in-assets Pacific Western Oil Corp. was elected president of $142,000,000-in-assets Richfield Oil Co. of California to succeed C. M. Fuller, resigned. Five new directors were elected to succeed five resigning directors. The upheaval was taken to mean that Richfield is not assured of much-needed working capital.
Leigh Richmond Powell Jr., president of Seaboard Air Line Railway, and Ethelbert Walton Smith, vice president of Pennsylvania Railroad, were appointed receivers for Seaboard. The road has fought hard to avert a receivership, but 1930's low traffic forced it last week. A big Seaboard holder is Pennroad Corp.
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