Wilsons of Wilson

There are seven Swifts in Swift & Co., four Armours in Armour & Co., two Wilsons in Wilson & Co. Last week Thomas Edward Wilson, 65, and Edward Foss Wilson, 29, both made news when Father Thomas was moved from president to board chairman and Son Edward from vice president to president. Wilson & Co.'s 9,000-odd stockholders had no good ground lo fear nepotism. For Father Thomas the board chairmanship was created, and from that eminence he announced he would continue to run the company. No matter how much Father Thomas might wish to see his red-haired boy get along, he could not have wangled the presidency for Son Edward against the will of a directorate which includes Col. Albert Arnold Sprague (Sprague Warner & Co.), Edwin Augustus Potter Jr. (Guaranty Trust Co. of New York), Henry C. Olcott (Skelly Oil), James MacHenry Hopkins (Camel Co.).

Serious, hardworking Son Edward has learned a lot about the packing business since he graduated from Princeton in 1926, pulled on high boots, began prodding Wilson & Co. cattle through Chicago's stockyards. For a time he helped buy livestock, later became manager of the small-stock (veal & mutton) department. Last year he was elected a director. Last week he declared: "Dad will probably be busier than ever, for in addition to his regular duties he will be teaching me the business. But maybe in five years or so he might want to spend more time riding and playing golf."

As president, Son Edward's first duty was to announce the second dividend ($1.75) on the preferred stock since Jan. 1. That left the cumulative preferred shares $24.50 in arrears.

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