Postby dognose » Fri Mar 11, 2022 11:30 am
F. A. TAYLOR RESIGNS
Ill Health Causes President of Gorham Mfg. Co. and Silversmiths Co. to Give Up Work—Is Made Chairman of the Directors of the Holding Company
Providence, R. I., May 26.—Franklin A. Taylor, who succeeded John S. Holbrook as president of the Gorham Mfg. Co. and the Silversmiths Co. at the annual meeting two years ago, has resigned from those positions, as well as from the presidency of the Gorham company. His resignation was read at the meeting of the directors held on Wednesday, ill health being the reason for this action. The resignation was accepted with regret, but no successor was elected. The only statement that would be given at the corporation’s offices at the Elmwood plant was the fact that the resignation had been submitted and accepted.
In order, however, that the benefit of his experience and knowledge of the business may be retained for the benefit of these and afiliated companies, Mr. Taylor has been elected chairman of the board of directors of the Silversmiths Co. The Silversmiths Co. is the holding corporation which owns or controls the stock of the Gorham Mfg. Co., the Whiting Mfg. Co., the William B. Durgin Co. and the William B. Kerr Co.
Mr. Taylor, who returned to New York last week after a meeting of the directors, at Providence, confirmed the report of his resignation in an interview with a representative of The Jewelers’ Circular Friday. He explained that though he had apparently benefited greatly from the rest he had taken after his previous attack (which caused him to go away to the south for several months under the doctor’s care), the cure had not been permanent and he found himself suffering another attack while in the midst of his work early last week. It had become a question with him of quitting work entirely at once or seriously endangering his health permanently.
He explained that the new position of the chairman of the Board of Directors of the Silversmith Co. (the holding company controlling the stock of the Gorham Mfg. Co., Wm, B. Kerr Co., Wm. B. Durgin Co., Whiting Mfg. Co., etc.) had been created for him, as the directors felt that thereby they could get the benefit of the experience he had had in directing their affairs in the past few years. He did not expect his duties to be arduous in this regard, and he was now going away to the country for several months for a complete rest.
Source: The Jewelers' Circular - 30th May 1923
Trev.