Word: gypsum
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...trained in the trade will be elected. Mentioned as such candidates were Eugene Peeples Thomas, vice president of U. S. Steel, and I. Lamont Hughes, president of Steel's biggest subsidiary, Carnegie Steel Co. Outside possibility was Sewell Lee Avery, famed Chicago president of U. S. Gypsum, and a director of U. S. Steel, who was last month selected to head Montgomery Ward & Co. with whose affairs the House of Morgan is also concerned...
When Sewell Avery was made president of United States Gypsum in 1905 the company was four years old, he 31. He built it up steadily until earnings in 1925 and 1926 passed the $8,000,000 mark. A decline followed which carried profits down to $5,100,000 in 1929. For four years Gypsum engaged in a severe price-war with its big competitor Certain-Teed Products. Last year peace was declared, with Gypsum able to claim at least a moral victory. The result aided the company in making more money last year than in 1929 despite Depression...
...Although Gypsum has been Mr. Avery's chief interest, other directorates have learned to listen to the flow of anecdotes and discourses on education in which he often indulges at meetings before settling down to the business in hand. His colleagues know that he invariably gets down to business in the end, unhurried, efficient, wise. His other directorates have included Armour & Co., Chicago, Great Western, Chicago Daily News, Container Corp., Continental Illinois Bank & Trust (where he also sits with the executive committee), and a few months ago United States Steel Corp. was added to the list (TIME, July...
...University of Chicago's most helpful trustees. Its Distinguished Service chair was founded by him with $250,000 endowment. Seldom publicized, he is quietly recognized as one of Chicago's first citizens. His recognition by the House of Morgan after U. S. Gypsum's showing in its struggle with Certain-Teed was doubtless due to the fact that another potent competitor in the difficult building trade is Morganized Johns-Manville Co. When in 1921 Montgomery Ward faced grave difficulties because of inventory value shrinkage, the late Theodore Frelinghuysen Merseles was made president. Expansion followed...
Sewell Lee Avery, 57, US, Steel director, president of U, S, Gypsum Co., was made chairman of Montgomery Ward Co, succeeding Silas Hardy Strawn who became chairman of the executive committee...