Word: mallones
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Dates: during 1950-1959
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...nine foreign countries. Recently the oil industry's Nomads Club voted him "the world's most-traveled executive." Last week Traveler O'Connor made one of the most important moves of his career; he stepped up to Dresser's presidency, taking over from Henry Neil Mallon, 61, who is moving on to the board chairmanship. Says new President O'Connor: "My duties will be the same. I'll still be out hustling business around the world, while Mallon continues to set top policy. As usual at Dresser, everybody will work just a little harder...
...Serve the Industry. For 27 years the Dresser company has been farsighted enough to acquire the best and newest equipment that the oil world has to offer. When Mallon stepped into the presidency of Dresser in 1929, it produced only flexible couplings for plain-end pipes, had $5,800,000 in sales. Mallon built up Dresser into a company that could serve the entire gas and oil industry. In 1937 Dresser bought its first subsidiary company, Clark Bros, (angle compressors), and also got its vice president, John B. O'Connor, in the bargain. Three years later Dresser added centrifugal...
...tower in Oklahoma City. In quick succession, Dresser took on Roots-Connersville's rotary positive blowers, and Security Engineering's rock bits and reamers. By 1948 Dresser had taken seven separate companies under its wing, increased its net sales to $108,600,000. Said Mallon: "When we buy a company, we have to consider if the company would be better off in the Dresser family. Would Dresser itself be better, not just bigger, for having added it? Unless two and two make five, nobody gains by the merger...
Onward & Upward. To make sure it gains, Dresser has always done its best to let every new family member keep its individuality, run itself with its own officers, subject only to Dresser's overall direction. Says Mallon: "We hold on tenaciously to all the operating benefits that go with small-size companies, with Dresser Industries acting as a management group doing all those things where bigness is important." Proving the idea in the last seven years, Dresser found and bought four more companies-Magcobar, Lane-Wells Co., Southwestern Industrial Electronics and Guiberson Corp.-and helped them grow bigger...
Preferred Risk was founded with $10,000 apiece from William Norton Plymat 43, a Minnesota dry leader and nonsmoker; the Rev. Sam Morris, 55, a Texas Baptist minister, and Jules Jackson Mallon, 41, a Manhattan lawyer. The three ended up in top posts-Morris as president, Plymat as treasurer, Mallon as secretary-but counted only 250 lonely pol-cyholders their first year. They now have 120,000 policyholders, of all faiths, in 47 states, including such well-known drys as ex-Record Miler Glenn Cunningham and the University of Illinois' Physiologist Dr. Andrew...