Three of a Kind

Three famed oldsters in U.S. industry stepped aside last week for younger men: Big Bill Jeffers, whose strong back and sharp mind have run the Union Pacific Railroad for eight years, will retire from the presidency Feb. 1 at the age of 70, the road's age limit. He will continue as a director, but plans to take things easy in his new home, complete with swimming pool, in Los Angeles. Into his big shoes will step Executive Vice President George F. Ashby, 60, who went to work for U.P. in the engineering department 34 years ago. Like most railroaders, Ashby touched every rung on the way up, has been No. 2 man in U.P., and acknowledged crown prince, for a year.

Eugene G. Grace, 69, president of Bethlehem Steel since 1916, moved over to chairman of the board, a chair vacant since Charles M. Schwab died in 1939. Grace will continue as "chief executive officer." But much of the day-by-day operating will now fall on the new president, Arthur Bartlett Homer, 49. Born in Belmont, Mass., Homer graduated from Brown University and Annapolis, served in World War I as a lieutenant on submarines, joined Beth Steel in 1919. During World War II, Homer, whose hobby is sailing his 40-foot yawl, bossed Beth Steel's shipbuilding program. In five years he turned out 900 major ships, everything from aircraft carriers to trawlers, twice as much sea power as any other company.

Ralph W. Gallagher, 64, who started out in the oil industry as a pumping-station oiler at 16, retired as board chairman of Standard Oil Co. (N.J.). Into his place went Vice President & Director Frank W. Abrams, 56, who went to work for Standard as a draftsman 33 years ago, made his name as boss of marketing and refining for Standard in the U.S. But a large part of the backbreaking operating job will still be done by Standard's red-faced, drawling President Gene Holman and the rest of Jersey's board of directors.

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