U.S. Business: Personalities: Oct. 18, 1963

BUSINESSMEN do not usually knock their own products, but bankers nowadays seem to feel that money is on the way out. Rudolph A. Peterson, 58, elected this week to the presidency of the Bank of America, believes that "in another ten years money will be more or less obsolete." As the new head of the world's largest bank, Swedish-born, California-raised Rudy Peterson hopes to hasten that day by moving the Bank of America further toward an automated time when it will handle everything from company payrolls to customers' milk bills. A credit expert...

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