The sun., 1917-09-14
THREE Big CHANGES
IN CHASE NATIONAL
A. Barton Hepburn Resigns as
Chairman to Head Banks
New Advisory Board.
SUCCEEDED BY WIGGIN
Eugene V. r. Thayer Of Bos.
ton Is Elected President
Of Institution.

After a meeting OF the directors Of
the Chase National Bank yesterday It
was announced that a. Barton Hepburn,
chairman OF the board, had resigned
10 take effect January I 1; that Albert
H. wissin. president since January. 1911.
had resigned to become chairman. and
that Eguene V. r. Thayer, president Of
the Merchants National Bank of Boston
had been selected to succeed Mr.. Wiggin
~ president
Mr.. Hepburn will continue az a di-
rector, but will gradually follow ont
his announced plan of lifting his busi-
ness burdens. He will become chairman
Of an advisory board Of the bank. COM
posed OF Mr.. Wiggin, Mr.. Thayen and
vice-Prssidents Miller. Tinker, II. Dahl.
schmidlapp and Andrews.
This board will take over the active
management Of the bank. relieving Tin.
senior officers Of much routine work and
other responsibilities. The Chase bank
is 'hs third large institution in this
city to turn over large parts of the
management to Junior officers. the Ma
tional City Bank and the Guaranty
Trust Company having adopted similar
plans.
In announcing the changes the bank
issued this statement:
The growth of the Chase National
Bank was such as to necessitate the
acquisition Of new and enlarged uuar-
tiers for the accommodation of its
business; very soon continued growth
rendered necessary the enlargement OF
the newly acquired facilities. The de-
inand for an increased executive force
was Of course commensurate with
physical growth. To meet this demand
Eugene V. r. Thayer has been invited
10 and has accepted it's presidency.
He was to-day elected president, to
take effect January /, 1918, at which
time he will enter upon the active dis
charge OF his duties.
Albert II. wiggin resigned as presi-
dent to take effect January |, 1918,
and was elected chairman of the board,
totake effect coincident with his retire
nent rom the presidency. This does
not me- the lessoning in any degree
Of Mr.. Virgins activities and rcspon-
tblities in connection with the bank.
As chairman OF the board he will have
the same power to bind the bank as
the president has and will be- Just as
constant in managerial duties as be-
fore. II means simply the addition to
the Chase Bank staff, In the person of
Mr.. Thayer. OF another man OF ability
A. Barton Hepburn resigned as
chairman Of the board to take effect
January I. 1918. Mr. Hepburn feels
that he has earned a respite from
routine work and makes this change
In order TO have more leisure for the
things he wishes to do. He remains
director. retains his stock holdings.
and will have the same Interest and
ambition in the future growth and
prosperity Of the Chase Bank as he
has had in the past. Mr.. Wig gin is the
third chairman OF tho board OF the
bank, the Chase having been one of
the first corporations to establish this
once Mr. Hcpburn's predecessor in
this Office was Mr.. Henry W Cannon.
Mr.. Thayer has been president of the
Merchants National Bank of Boston for
six years. In addition to becoming pres
ident Of the Chase Bank MIR. Thayer will
also become a director ard vice e-prcsident
Of the newly formed Chase Securities
Corporation.
Mr.. Hepburn II looked upon as one OF
the closest students Of finance in the
country. His published writings on
financial topics have been accepted as
authoritative. He was at one time a
member Of the Legislature OF this state
and has been prominent in national and
local Affairs for many years. lie was
at one time Comptroller of the Currency
and In this city had been vice-president
Of the National City Bank and president
OF the Third National Bank.