BANK OF COMMERCE
UNDER NEW CONTROL.
UNDER NEW CONTROL.
J. WILSON PERRY OF ST. LOUIS
IS ITS PRESIDENT.
Dr. W. S. Woods, David T. Beals and
W. T. Kemper Retire From
Active Interest in the
Institution.
As the culmination of a deal by which St. Louis bankers gained control of the National Bank of Commerce, J. Wilson Perry, formerly vice president of the National Bank of Commerce in St. Louis, was elected yesterday to the presidency of the Kansas City institution to succeed David T. Beals, who retires from active business. Dr. W. S. Woods relinquished control of the bank to Mr. Perry yesterday morning, following which Mr. Perry's election immediately took place. Dr. Woods also retires from active business life.
With Mr. Perry, William L. Buechle of St. Louis, former national bank examiner for Missouri, was elected as vice president to succeed William T. Kemper, who has resigned, and George D. Ford, director, elected vice president, the position having been created for him. Mr. Kemper was elected president of the Commerce Trust Company yesterday afternoon to succeed Dr. Woods, and will devote his entire time to that institution. Dr. Woods will continue as chairman of the executive board of the trust company.
Mr. Perry commences his work with the Kansas City institution under the most favorable conditions. Forty years of persistent and competent effort on the part of his predecessors, recent reorganization and increased capital; a deposit account of more than $25,000,000, with a 42 per cent reserve, and an unusually strong and representative board of directors makes his success almost assured.
BECAUSE OF WIFE'S HEALTH.
Speaking of the change, Dr. Woods said yesterday:
"I took this step for several reasons, but principally on account of my wife's health. It is necessary for her to spend most of her time in the South and California. We will probably go to California to live. The trips I was obliged to take in order to be with her and attend to the bank's affairs at the same time taxed me more than I cared, so I simply made up my mind to retire from active business and devote my time to my family and personal affairs.
"After forty years of business, all of which time has been spent in banking, I believe I have earned a respite. My health is good, but I need rest and I feel it proper that I should now step aside and let a younger man fill my place.
"My years of association with the officers and directors of the National Bank of Commerce have been of the most pleasant character. I feel I have gained their confidence and esteem as they have mine, and it is with some regret that I sever these pleasant relations. I shall watch with great interest the growth of the Commerce with the new man at the helm. I have known Mr. Perry for years as a successful business man. He deserves the support of the people of Kansas City and I commend him to them."
