Evening star., 1951-04-05

-.
signed as chair
man of the
Mr.. Woifson. New York firm
after SO years with the company.
continues as a director and
honorary chairman. the New York
announcement said. Since 1949.
Mr.. Wolfson has been one of the
major stockholders in the firm
which is nationally known in the
field of big construction. marine
salvage and bridge building.
It also was in 1949 that the
Florida industrialist headed the
syndicate that acquired control
ling interest of the Capital Transit
Co. Two other CTC directors
j. A. B. Broadwater and Elkin B.
Gerbert-were elected earlier this
week to the board of the New
York construction firm.
It is expected that Mr.. Broad
water will succeed to the presi-
dency of CTC on the retirement
of Edward D. Merrill. as previ-
ously announced. He Joined the
transit company as chairman of
its Executive Committee and as
executive vice president. after the
Wolfson interests took control.
One of the youngest of the
Southern industrial leaders, Mr..
Wolfson has been successfully ac-
tive on business and Industrial
front since 1882, when he joined
a brother to start the Florida Pipe
& Supply Co. He was then stu
dent at the University of Georgia.
From this Florida company grew
the United States Wolfson Bros.
Corp, one of the major mill sup
pliers in the United States, with
offices in Jacksonville, New York,
San Francisco and Los Angeles.
Mr.. Wolfson maintains homes
in Washington and Jacksonville.
He is a director of number of
other firms and owns controlling
interest in II motion picture the
aters in Jacksonville. Tampa. Fla,
and Atlanta.
Boylan to Retire.
News from New York yesterday
also announced plans by Robert
p. Boylan to retire May 81 as
chairman of the Board of Gov
ernors of the New York Stock Ex-
change. He then will have COM
pleted his fourth term.
1t was expected in exchange
circles that Richard M. Crooks. al
partner in the brokerage firm of
Thompson & McKinnon. would be
nominated next Monday as chair
man. He is now vice chairman.
The election of the chairman and
nine members of the board is set
for May H.
Mr.. Boylan is the second topI
exchange executive to retire. Emil
Schram last September resigned
effective when q successor Isl
chosen on May J.. He plans to
retire to his Midwestern farm.
The post of chairman of the
Stock Exchange Board is without
salary but the presidency pays
100000 year. Mr.. Boylan has
been a governor for II years and
will continue as member of the
exchange. His decision to retire,
he said, was to give more atten-
tion to his personal life. MY
duties as chairman have been
long and strenuous" he informed
the nominating committee. "in
Washington as well as in New
York. I must now give more
thought to myself"
He became a member of the
exchange in 1886 and first became
a board member in 1888. In Jan
uary, 1850, he was named presi-
dent pro tenn during the illness
Of Mr.. Schram.
Pepco Wins Award.
Potomac Electric Power Co. has
been presented the George A..
Hughes award, the electrical in
dustry's oscar" for the outstand-
ing educational program for cleo
trical living in the Nation during
1850, it was announced in Chicago
yesterday. The presentation, which
includes plaque and cash award,
was made by the Edison Electrical
Institute to j. S. Bartlett, CONNER
cial manager for Pepco.
1t included a citation for the
company's programs for advance
ment and promotion of kitchen
equipment. In a congratulatory
message to President A. G. Neal,
Hotpoint, Inc, donors of the
award, heartily praised the eff
cheney of the Washington COM
pany "Your company has long
been distinguished for outstanding
programs for education in the uses
Of electricity" said its president
James j. Nance. He also said
Washington's industrial progress
in the last five years has stamped
it "near the top among the Ma
tion's great producing centers."
The Richmond Reserve Bank
reported department store sales
in the Fifth District, were IA per
cent higher in February than a
year ago. In the first two months
sales showed jump of 21% from
the 1850 period. For Washington
tae gains were IL and 21e6, respec.
lively.
Izc~Dert J. Macdonald has beer
admitted to the Quarter Century
Club of the international Business
Machines Corp, having finished
Is years of service with the Wash
ington sales force.