OUR NEW PRESIDENT
MR. JOHN W. HANES
All Ecustans join in extending our sincere congratulations and best
wishes to Mr. John Wesley Hanes, our new President and Chairman of the
Board of Directors. He was elected to this position at a meeting of the Di
rectors on March 13th.
A native North Carolinian, Mr. Hanes acquired much of his early busi
ness background in this state. He was born at Winston-Salem, and received
his early education at Woodberry Forest School, Orange, Virginia. He was
graduated from Yale University in 1915 with a B. A. Degree, and subse
quently received an LL.D degree from Duke University.
His first job was that of cigarette salesman for the American Tobacco
Company. He served as ensign in the U. S. Naval Reserve Force from 1917
to 1919, and in 1920, joined the banking firm of Chas. D. Barney & Com
pany. He became a partner in 1922, and was the senior partner of this firm
from 1929 through 1937. On January 1st, 1938 he was appointed a Com
missioner of the Securities and Exchange Commission. On July 1st of the
same year, he was appointed Assistant Secretary of the Treasury. He was
promoted to the position of Under Secretary of the Treasury on November
1st, 1938, and served until his resignation in 1940.
Mr. Hanes was elected a member of the Board of Directors of Ecusta
in April, 1948. Since that time he has won the respect and admiration of
all Ecustans, and has been of invaluable service to the company. In Feb
ruary, 1950, he was elected Vice President and a Director of Olin Industries,
Inc. In addition to his duties at Ecusta, he is Director and Chairman of the
Executive and Finance Committee of the United States Lines Company, fore
most American steamship operators. He is also a Director of the Johns-Man-
yille Corporation and of the Bankers Trust Company of New York, and a
director in many other corporations and financial institutions.
Upon Mr. Hanes’ suggestion, the Board of Directors changed the name
of Camp Sapphire to Camp Harry H. Straus.
We are very happy to have Mr. Hanes with us, and all of us pledge
our wholehearted cooperation.