Brown for Traylor

Vice Presidents Edward Eagle Brown and John Prince Oleson have long occupied almost identical offices in Chicago's First National Bank. Both suites open into a single reception room, have the same kind of paneling, fireplaces and desks. Last week, when Mr. Brown was elected president of First National and Mr. Oleson was elected board chairman, most people sent duplicate bouquets. One who did not was Charles Gates Dawes. He sent a large basket of red roses. They were placed on a filing cabinet halfway between the two offices.

"Ned" Brown's election to succeed Melvin Alvah Traylor, who died fortnight ago, was no great surprise to Chicagoans. He was the first of a small group of senior officers who constituted "Mel" Traylor's "cabinet." Son of a Salem, Mass, lawyer who went to Chicago in 1872 and became a judge, "Ned" Brown was general counsel for the bank within four years after graduating from Harvard Law School at 23. At 34 he was vice president, at 38 senior vice president. Famed for his knowledge of banking technique, he was operating head under President Traylor. Today, at 48, he is short, massive, paunchy, proud of his record.

Chairman Oleson is an up-from- messenger banker. He left grade school at Lombard, Ill. to run errands for First National at $4 a week. The year "Ned" Brown graduated from Harvard Law, John Oleson was proudly wearing the title "loaning officer." Vice President since 1916, he directed the investment of bank funds, was able to accumulate sufficient cash before the bank holiday to meet withdrawals of 20% of the bank's deposits without outside help. Now 60, he succeeds Frederick Holbrook Rawson who re tired as chairman last August because of ill health. To fill the vacancies left by Messrs. Brown and Oleson, First National elevated two department vice presidents. One was James Berwick Forgan Jr., 44, son of the Bank's first chairman. He was also made a director.

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