The Birmingham age-herald., 1921-05-08

U. B McCormack has rendered his resignation as chairman of the board of directors of the American Trust ad Savings bank and James Bowron, chairman of the board of directors of the Gulf States Steel company, has been unanimously elected to suc- ceed him.
 The announcement of these changes was contained in the following official statement given out at the American Trust and Savings bank Saturday fol- lowing the meeting of the board of di- rectors:
 Following the relinquishment of MT. Erskine Ramsay and MT George B. Me of Ensley. announced on Sunday. 1t Is a matter of much regret to the business associates of Mir. Mccormack that on the advice of his physicians he has now resigned from the chairmanship of the board of directors of the American Trust and Savings bank, transferring his stock in that institution to members of his family. His financial interest therein will therefore be continued and his per- sorfal interest in the institution, largely founded by himself, will remain. His eldest son, Carr Mccormack president of the Newcastle Coal company was unanimously elected to succeed him on the board of directors.
 UNANIMOUSLY ELECTED
 Mir James Bowron, chairman of the board of directors of the Gulf States Steel company. was unanimously elected chairman of the board to- succeed MT. Mccormack, MT. Bowron having served from the formation of the bank in 1905 as chairman of the executive commit tee"
 Mir Bowron, the new chairman of the board of the American Trust and Saw inss bank, was one of the pioneers Of the industrial and commercial develop ment of the Birmingham district. He las been president of the Gulf States Steel company for many years. and to his ability as an organizer and indus trial leader was credited much of the success which that company has attained in recent years He only recently re- signed the presidency of the company to accept the chairmanshp of the board of directors
 While 1t is declared that the health of Mir Mccormack is good. his physicians informed him that he must cease his strenuous activity which has marked bis career for more than 30 years in the Bir- mingham district during which time he has played as large part as any one in making Birmingham the great indus trial center it is today.
 HIGH TRIBUTES
 At the meeting of the board of di- rectors of the American Trust and Sav-. ings bank, when the resignation of MT. Mccormack was submitted in writing in his absence, every member of the board made brief statement paying high tribute to the retiring chairman. for his. valuable services not only to the bank, which he was largely Instrumental in founding. but to the entire district and the state of Alabama. A committee of directors was named to prepare suitable resolutions expressing the regret of the board at the retirement of Mir. McCor- mack and their appreciation of his work fo. the upbuilding of the bank which since 1t was founded in 1908 has grown into one of the strongest financial i'm stitutions in the south.
 The decision of MT. Mccormack to re- tire from active business was reached several weeks ago, the first public an nouncement to that effect being made when he and Erskine Ramsay. owners of the Bank of Ensley. disposed of their interests to R. E. Chadwick and Sam c. King, who held the positions of vice president and cashier, respectively. of that institution
 No man in the history of Birmingham is said to have played larger part in the development of this district than G. B. Mccormack. The Bank of Ensley one of the strongest and most successful financial institutions in the state, which was owned by MT. Mccormack and his partner, Erskine Ramsay, the American Trust and Savings bank. which he found- ed: the Pratt Consolidated Coal com pany, the largest independent coal com pany in the south, and numerous other enterprises. were built up through the efforts of MT. Mccormack. most of them with the active cooperation of his part ner. MT. Ramsay.
 SHOCKS TRIBUTE
 Birmingham owes much to Mir. Me- Cormack. and no man in the past So years has played a larger part In making Birmingham what it Is today than he.'' said Paschal G. Shook, who came to Birmingham with MT. Mccormack. ana has been associated with him in many business enterprises. "He has been a genius for business. finance and organiza- ton in the industrial field, and his advice of any man in this district. He has aid- ed in making some of the largest devel- opments in the state. and has helped
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