Youngest

Last week William Steele Gray Jr. was elected president of Manhattan's Central Hanover Bank & Trust Co. ("No Securities for Sale"). Tall, dark, handsome, he was born to wealth, served in the Navy during the War, graduated from Princeton in 1919. He promptly entered his father's chemical supply house as a salesman. In a few years he was made president (and still is). Unlike Treasurer James F. Behan of A. T. & T. who spent 30 long years plodding up through the ledgers (see above), William Steele Gray Jr. entered banking only eight years ago, and then he entered as an officer. When he stepped into the presidency of Central Hanover last week he was 35-- youngest bank president in Manhattan.* The bank which he will manage has over half a billion dollars in deposits, ranks seventh in the land.

Banker Gray succeeded George Willets Davison who became board chairman. William Woodward retired into an inactive honorary chairmanship. Few people in Wall Street know Banker Gray. Few even knew his name when it was ticked out by the news services last week. But the few who did know him knew him as a good banker, a good friend of President Davison. 25 years his senior. Polished, brilliant, faultlessly attired, he lives in Greenwich, Conn. His wife. Margaret Dunlop, a Southerner famed for her beauty, often rides to the Fairfield & Westchester Hounds with him.

*Manhattan's youngest bank president is formerly Artemus L. Gates, 37, of Nevv York Trust Co. who was elected at 33. John Stewatt Baker, 40. chairman of The Manhattan Co. like his father before him, was a president at 34.

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