Personnel

Last week the following were news: Charles Wilbur Miller was not re-elected president of Davison Chemical Co. When the Company issued its statement for the year ended June 30, much comment was caused by the following write-off: "Provision for loss in realization of advances made to president of company and interest thereon--$705, 284.32."/- Elected in Mr. Miller's place was Henry E. Treide, executive vice president of the company for a year, a director of Baltimore Trust Co. and of Baltimore Mail Steamship Co., which he helped form.

Frederic James Fuller, senior vice president of Central Hanover Bank & Trust Co., was elected president of New York Title & Mortgage Co., succeeding George T. Mortimer who resigned. Acquired by Manhattan Co. in 1930, New York Title will again function as an independent organization under a plan announced in October by which Manhattan Co. will distribute its 98 1/2% stock control to its shareholders. Banker Fuller's acceptance of the job was hailed as an important step towards thawing New York's frozen realty situation.

/-This Davison report was considered a classic compendium of unfortunate events. Other write-offs included: "Uncollectable receivables-- $1,556,842. Provision for loss on accounts due from former officer of subsidiary company (including charges of $138,310 resulting from litigation)--$303,557. Provision for loss in realization of advances to The Silica Gel Corp.-- $1,916,800. Loss on sale of stock held under officials' and employes' stock purchase plan--$322,222." Six contingent liabilities, including three lawsuits, were also listed.

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