New Presidents

In 1903 the youngest attorney general in New Jersey history, 36-year-old Thomas Mesbitt McCarter, resigned to merge the State's helter-skelter trolley and transmission lines into one concern. Today his Public Service Corp. of New Jersey is the biggest company operating entirely in the State (total assets: $686,000,000). Founder McCarter's shock of hair has turned from red to white, but his bulky, florid personality is still as dominant as ever.

At last week's directors' meeting President McCarter declared: "I feel that the time has come when I should lighten up a little." Obedient as ever, the directors created the new post of chairman of the board for Thomas McCarter, upped Vice President Edmund Waring Wakelee, a silver-haired bachelor of 69, to the presidency. This took some routine executive work from founder McCarter's tiring shoulders, but he made it clear that he remained the boss.

Last week the following also made management news:

> William Tudor Gardiner, twice Governor of Maine and now head of Boston's Incorporated Investors, raised Nathaniel Drummond ("Nat") Moore to the presidency of his $10,000,000 Pacific Coast Co. (railroads, steamships, mines, cement factories), succeeding Thomas Arthur Davies, who resigned to handle personal interests. Grey-haired Nat Moore has worked for Pacific Coast for 40 years, knows his 1,000 employes by their first names.

> President Duncan John Kerr of Lehigh Valley R. R. was nominated to become a director of Great Northern Ry. A Scot who likes bridge, fishing and "just being in Montana," Railroader Kerr will probably be the next Great Northern president, succeeding William P. Kenney, who died in January.

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