Evening star., 1934-12-24
|NEW LEADERS RISE
| IN j. s. INDUSTRY
Steel, Power, Railroads and
Banking Affected by
Influence.
BY CLAUDE A. JAEGER,

Associated Press FINANCIAL Eoitor.
NEW YORK, December 24.-New
leaders are appearing in the parade
Of American business and industry.
like Taylor in steel, Carlisle in power,
Pelley in railroads and Aldrich and
Perkins in banking.
Wall Street quarters, which keep q
close check on the internal affairs Of
corporations, expect these and other
new names, which have sprung up
during the depression. to develop un-
der better business conditions.
Many have been sought to replace
veterans laying down their burdens.
Others have been called from the
ranks to replace executives who could
not meet the ttst
But 1t requires good times to bring
them forth in great numbers. This,
no doubt, is due to the tendency to
strive to hold the fort during bad
times. Some veterans have been
urged to postpone their retirements
until the storms blow over.
Among the large industrial organi-
cations, one outstanding Job to be
filled was the Craftsmanship OF the
United States Steep Corp. 1t was
well known before the depression set
in, however, that the mantle OF the
late Judge Gary would pass to Myron
c. Taylor.
Has Powerful Physique.
Taylor, born of a moderately we'll
to-do family in Lyons, N. Y, so years
ago is a man of powerful physique,
strong features and conspicuous dig
nifty Of manner and speech.
While he may look like big business,
he does not talk it. Just week before
he became chairman Of the worlds
biggest steel company, in March, 1882,
he said in ole Of his infrequent public
addresses;
I'VE have learned that the false gods
of our ideals, the gods OF size and
speed. have proven powerless to help
US. Bigness has afforded us no lasting
happiness. and speed no economic
Another upstate New Yorker has
become the head Of one Of the biggest
generating and distributing companies
in the electric power industry-Floyd
L. Carlisle, native of Watertown, like
TAYLOR, he studied law at Cornell,
graduating in 1902, eight years after
Taylor.
Prominent Before Slump.
Carlisle was also well on his way to
high places in business and finance
before the hard times. His law prac-
I,, Jot Iad l,iy,o intn r,anAr
in the Adirondack area. thence into
water power. When the Niagara
Hudson Corp. was formed in 1929 on
the crest of the boom Carlisle was
chosen to head it.
Three years later he was selected to
become chairman Of the Consolidated
Gas Corp, which serves New York
City's millions with electricity, gas
and steam, and which is now en-
broiled with Mayor LaGuardia over
rates, facing the prospect of muni-
cipally- y-owned "yardstick" plant. Car
Isle still heads agara-Hudson as
well.
In railroading, q Middle Westerner
with a Southern background has
emerged within a few monthe as q
leader such as the railroads have not
had before.
When the Association Of American
Railroads was formed last September.
John J. Pelley was called from the
presidency of the New Haven Road to
head it. He had been with the New
Haven only since 1929. Born at Anna,
Ill. 56 years ago, he worked up through
the Illinois Central becoming presi-
dent of subsidiary, the Central Of
Georgia.
Lead Auto Industry.
In the automobile industry, Ford,
Sloan and Chrysler are still the big
names
There have been numerous shifts
in the big banks, where the financial
upheavals and disclosures brought
changes. Winthrop w. Aldrich, a
lawyer, turned banker almost over
night when his brother-in-law, John
D. Rockefeller, jr.. sought q successor
for Albert H. Wiggin as head Of the
Chase National Bank. James II. Per
kins, New Englander and Harvard
man, with some 20 years Wall Street
banking experience. took the helm at
the National City Bank when Charles
E. Mitchell resigned.
N. r. A. has called a number Of
business men, with s. Clay Williams
and w. Averill Hartman in the fore
front.
TRADING INIT CHANGED