To the Top

Some new faces appeared at the top of the managerial ladder last week:

PERCY J. EBBOTT, 61, became president of Manhattan's Chase National Bank, third largest in the U.S.* He will share the chief executive duties with Board Chairman Winthrop W. Aldrich. Ebbott's predecessor, Arthur W. McCain, became vice chairman. A ruddy-faced, friendly Midwesterner, born in Fort Atkinson, Wis., Ebbott worked at sales and manufacturing before entering banking, has been a Chase vice president since 1930.

PERCY CRAIG SPENCER, 55, a lawyer turned oil executive, took over the presidency of Sinclair Oil Corp., succeeding aging (72) Founder Harry F. Sinclair, who was ready to leave responsibility to younger men. "Spence" Spencer, born in Jasper, N.Y., graduated as a lawyer from the University of Nebraska and became general counsel of Producers & Refiners Corp. in 1927. When it merged with Sinclair in 1934, Spencer went along. Said Harry Sinclair (who becomes board chairman) : "No changes in major policies are to be anticipated."

LYNNE L. WHITE, 59, moved up from executive vice president to president of the N.Y., Chicago & St. Louis Railroad (Nickel Plate). Groomed for the job by his predecessor and old friend, the late John W. Davin, White is an up-from-office-boy railroad veteran of 44 years, who had been vice president of three other roads before joining the Nickel Plate six months ago. In 1948, the Nickel Plate's first independent year after separation from the Chesapeake & Ohio, he helped President Davin pile up a gross of $109 million and net of $15 million, greatest in the Nickel Plate's history.

* The first two: Bank of America; National City Bank.

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