Monday, Jan. 16, 1933

Personnel

Last week the following were news: Mutual expressions of admiration and gratitude were exchanged last week when John Daniel Hertz, 53, resigned as chairman of Paramount Publix's finance committee. Direct cause of his move was a conflict with President Adolph Zukor, 60 last week, over "the technical limitations upon the authority of various officers.'' Other important resignations from the company in recent months have included Sam Katz, onetime close Hertz ally. Sidney Kent, Jesse Lasky. Mr. Hertz entered Paramount's affairs 14 months ago at the "suggestion" of Kuhn, Loeb & Co., bankers and creditors of the company. Last week Mr. Hertz said. "I was only a surgeon." referring to the $39.000.000 he lopped off the company's expenses, including $6.000,000 in salary reductions. Associated with Mr. Hertz in his Paramount venture were the late William Wrigley Jr. and Albert Davis Lasher. Last week Mr. Hertz said he would spend the winter in Miami, then return to Chicago and the racing stables which produced Reigh Count and Anita Peabody. Austrian-born Mr. Hertz sold his school books when he was 11 and became a copy boy, then assistant sports editor on the Chicago Daily News. He managed pugilists before he became an automobile salesman, bought a lot of second-hand cars and started what became Yellow Cab Co.

Louis Rice Wasey, board chairman of Erwin, Wasey 8 Co. (advertising agency), and Edwin Eugene Taylor, one-time executive vice president of General Foods Corp, formed Bahama Isles Foods Corp. to manufacture and distribute meat of the pink conch. Though natives look upon el cobo (great Bahama conch) as their staff of life, it has never been commercialized.

Louis Franklin Swift, 71, eldest surviving son of Founder Gustavus Franklin Swift, resigned his directorship in Swift 8 Co. Two years ago he was succeeded as president of the company by his brother Gustavus Franklin Swift.

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