Word: corley
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This time the directors put President Frederick Dexter Corley, an up-from-the-ranks conservative, in charge. And James Simpson, onetime president and a power on the board, began taking time out from his job running the Commonwealth Edison utilities to make regular visits to the Field office. Vice-President James P. Margeson
Dewey, joined Marshall Field at the bottom in 1922. That his rise in Marshall Field is likely to continue appeared last week as President Corley released the company's annual report. Though the retail division's profit was down from $5,029,090 in 1937 to $3,940,099, Mr. McBain's manufacturing division came back from 1937's $5,679,209 loss to net a cozy $138,165. Even the real-estate division, only one still headed by a McKinsey man, showed a profit...
Marshall Field & Co. had a total 1938 net of $3,492,238, which President Corley happily declared was "entirely the result of a change of policy." It was only a coincidence that the report was issued for publication on Hughston McBain's 37th birthday...
That man is to be dapper, 55-year-old Frederick Dexter Corley, who began as a Field's stockboy 37 years ago, rose in the best Field's tradition to be president last year. As long as James McKinsey was chairman the presidency was an empty job. Now it is to resume its onetime importance. While President Corley last week pondered his future policies, certain hitherto unpublished details of the McKinsey management came to light...
...rose from a cashboy, Marshall Field was an Institution. To Chairman McKinsey, who entered from the top as a professional management counsel, Marshall Field was a corporation with a problem. The two viewpoints were incompatible. As Mr. McKinlay's successor, Mr. McKinsey suggested Vice President Frederick Dexter Corley, a tall, blue-eyed, dark-haired merchant of 53 who got his start in the millinery department at 18. The suggestion was accepted by the Marshall Field directorate within five minutes...