New Britain herald., 1924-12-31
PIERCE SUCCEEDS
 WILLIAM M. WOOD
Is New President Of American
 WOOlen Co.

Shawseen Village, Mass, Dec. 31. -~Eormal announcement of the res ignaton of William M. Wood as president of the American Woolen Company was made here this morn- ing at the companys offices here.
 Ill health was assigned as the req son for MT. Woods retirement
 Andrew G. Pierce, Jr.. of New Bedford becomes president of the company to succeed MT. Wood, the formal statement said. Cornelius A. Wood, son of the retiring president, becomes first vice president in place of Mir. Pierce; and John W. Burrows, selling agent of the company, is ap- pointed to succeed William NJ, Wood az president and selling agent of the American Woolen Company of New York. the selling company of the parent organization, which is a Mas sachusettts corporation. The an- nouncement in full said:
 Acting upon the earnest advice of his physicians. William NJ. Wood has resigned as president and chair man of the executive committee of the American Woolen Company but remains a director. He Is succeeded by Andrew G, Pierce, Jr.. who has been vice president and director for over 20 years.
 Other organization changes are the appointment of Cornelius A. Wood as first vice president. succeeding A. G. Pierce. Jr., and the election of John w. Burrows, at present selling agent, 10 succeed William NJ. Wood as president and selling agent of the American Wo0len Company Of New York. the selling company of the parent American Woolen Company of Massachusetts. There will be no changes in operating personnel.
 "The new head Of the American WooIen Company Is wcll-known in both textile and banking circles. Throughout his business career he has been identified with both the cotton and woolen brances of the tex tile manufacturing industry. His home is in New Bedford In addi- ton to serving, as vice president of the American Woolcn Company, A. c. piorce, Jr.. is president of Pierce Brothers. Ltd, and treasurer of Pierce Manufacturing Company, fine goods cotton mills .and president of the pairpont Manufacturing Com pany. makers of silver and glass, all of New Bedford. He is a director Of he First National Bank of Boston and of the First National Bank of New Bedford.
 William Nj. Wood who because If il health. now rcinqushes the TO- sponshilities of the presidency, has been the active executive head as treasurer or president of the Amer lcan Wooden Company for it's entire -G wars career. He in fact founded tho company in 1899. From nu- c1cus of 19 mills. q capitalization of 49,50o,00, s64.0oo. GOO assets, 16,- GOO, employees and a turn.ovor Of $@l 900, ,000, the American No0icn Company has under his sole EIil- aucc emerged into corporation with more than so mills. S9o,0Q0,ngo capi- ral. Sl50,0oo.0 .00o assets. 40,60o "m- ploycs with a production of $175,- no", ,o0o. It Is the largest aCEroga- ton Of wooden and vorstcd macl!n- ory in the world The Wood Norated Mill of Lawrence built in t3o6 and the largest worsted mil in thu world is named after him.
 At Mir. Woods homo here Il was said that he probably womb jfavH for The Pacific coast shortly for an extended vacation,
 The retiring president or The American Nooio0 company is 6ac- coe eded in that position by tbr son of the man to whom he owed thc sat ot his brilliant c1raor in br1st- Hcss. The son or a poor Portuguese immigrant 10 NcV Bedford, NIT. Wood as boy attracted the a'ten- ton o' Anlrow G Fierce, ST. ry hts uunsual intelligence and rr,~, nee and he WIS c9-ag"J as a messenger. Al the end of threa years, Mir, I'irrr2 transferred The boy at the lattar's re- quost to the manufacturing dcpart- mont in order that hq might learn .hr textile business from The ins le. His advance was rapid.
 Th~,o vars later young Wood's Tcpr.aftau for ability brought him .,tc otf-r Of a position in 8 banking house. where he laid the foundation oC his training in finance. Ills re- turn to the textile business came about through Otis N. Pierce ot New i"l5nrI. 2 brother or Wooi's orig t0at hnr.actor, RrorsanihnE sev- . rral New Bedford mills. Mir ThrCo ] installed yourg Wood as ra>mastrr and assistant mSnagor, position he hrll for six years
 l. NaE announced al the American Woo3en company'e offices today that Andrew G. Ifercr, IT.. Ni,l be rhl1r- man or ine executive committee ot i