Word: vanderploeg
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...VANDERPLOEG Toronto...
Into the presidency of Kellogg stepped tall, grey-haired, grey-eyed William H. Vanderploeg (rhymes with Kalamazoo). Plucked from a vice-presidency in Chicago's Harris Trust & Savings Bank last July, he had been Kellogg's executive vice president. To the chairmanship retired Will Keith, hoping to devote the rest of his life to his two big hobbies: 1) W. K. Kellogg Foundation in Battle Creek, which he established nine years ago to improve children's health (endowed with $46,000,000); 2) W. K. Kellogg Institute of Animal Husbandry (with 80-odd pure-bred Arabian horses...
Able Banker Vanderploeg's big job will be to restore Kellogg's profits, down last year to $2,174,581 (less than half of 1934-35-36) due mainly to a $2,000,000 increase in operating expenses. Directors last week made it appear that profits are already mounting by doubling Kellogg's 50? October dividend...
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