Personnel

Last week the following were news:

Lessing J. Rosenwald, 40, resigned as vice president of Sears, Roebuck & Co., became chairman of the executive committee, vice chairman of the board. The shift was interpreted as meaning that his father, Julius Rosenwald, plans to become less active in the company. Last week the rumor of a merger between Sears, Roebuck and Montgomery Ward was stronger than it has been for a year or so.

Walter Sherman Gifford succeeded the late George Fisher Baker as a member of the finance committee of United States Steel Corp. Sewell Lee Avery, president of U, S, Gypsum Co. filled the vacancy on Steel's directorate left by Banker Baker.

John Mortimer Schiff, 26, partner in Kuhn, Loeb & Co., succeeded his father, the late Mortimer Leo Schiff, as a director and member of the executive committee of Western Union Telegraph Co. Director Jay Cooke was also added to the executive committee.

Cyrus Stephen Eaton, retrenching tycoon, resigned as a director and member of the executive committee of Youngstown Sheet & Tube Co., also from the Chairmanship of Continental Shares, Inc. Last week the Eaton firm of Otis & Co. retired from the N. Y. Stock Exchange.

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