Friday, Dec. 01, 1961
PERSONAL FILE
. When he was named chairman of Allied Chemical Corp. (1960 sales: $766 million) two years ago, Harvardman Kerby H. Fisk, 58, had spent most of his career in the Prudential Insurance Co., knew little about chemicals. But Allied's board decided that the cool, analytical Fisk was the man to put some snap back into their company which for a decade had been falling behind Dow and Monsanto. Last week Fisk announced plans to swap $350 million in Allied stock to acquire Union Texas Natural Gas Corp., a major oil and gas producer whose output will guarantee Allied a supply of crude for its petrochemical business. First venture planned for the merged company: construction of a $40 million to $60 million petrochemical complex near Baton Rouge.
. At the paternalistic Upjohn Co. of Kalamazoo, Mich., the most notable in-group is the in-laws. Since 1936 Upjohn has been run by Chairman Donald Gilmore, 66, who married the daughter of Founder W. E. Upjohn. (Since Upjohn was married to Gilmore's widowed mother, Gilmore's wife is also his stepsister.) Last week, with his Jan. 1 retirement approaching, Gilmore named his own quietly able son-in-law, Ray Theodore Parfet Jr., 39, as the company's president and chief executive officer. Despite corporate inbreeding, Upjohn has prospered, is now one of the nation's top five ethical drugmakers with record sales of $122 million for 1961's first nine months. Ex-Bomber Pilot Parfet, a veteran of 60 European missions, joined the company in 1947, has specialized in finance.
. To fill a potential political hot spot--controlling domestic gold and silver operations--the Treasury Department turned to a slight, studiously nonpartisan monetary whiz, James Dewey Daane (pronounced Dane), 43. Daane, a Phi Beta Kappa from Duke, learned his banking in 21 years with the Federal Reserve, joined the Treasury near the end of the Eisenhower years and smoothed the transition from Republican to Democratic monetary policies. As Deputy Under Secretary for Monetary Affairs, he will need all his neutrality as he copes simultaneously with demands from Western silver producers that the Treasury raise its pegged price (90 1/2-c- per oz.) on stockpile silver and the insistence of industrial users that the silver price be kept low.
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