Business: Reynolds' Record

Rare is the corporation president who, taking office in 1931, can point to his first year as record high in the company's profit history. But such is the accomplishment of large, suave, meticulous Samuel Clay Williams, who became president of R. J. Reynolds Tobacco Co. in June 1931. Last week Mr. Williams reported net 1931 earnings of $36.396,816. The previous high (1930) was $34.256,665. In contrast to his predecessor, Bowman Gray (now chairman) who is a great tobacco sales man, and to William N. Reynolds, executive committee chairman, who is a great...

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