Description: Up for auction "Scott Paper Company" Thomas B. McCabe Hand Signed 5.5X3 Card. ES-7045E Thomas Bayard McCabe (July 11, 1893 – May 27, 1982) was president and chief executive officer of Scott Paper Company for 39 years. McCabe also held several important government offices during the administrations of Franklin D. Roosevelt and Harry S. Truman. Most notably, he was appointed by President Truman to serve as Chairman of the Board of Governors of the Federal Reserve in the years following World War II. The youngest of five children, Thomas Bayard McCabe was born on July 11, 1893 to William Robbins McCabe and Beulah Whaley in Whaleyville, Maryland. According to family records, his paternal ancestors were early pioneers of Selbyville, Delaware, dating as far back as the late 1700s. By 1837, Thomas's great-great-great grandfather, Arthur McCabe, owned what was then all of Selbyville. His grandfather, William S. McCabe was involved in the local mercantile business for over 50 years. When McCabe's father came of age, the firm William S. McCabe & Son was formed and became one of the leading business firms in Sussex County, Delaware. His father later founded and served as the first president of the Selbyville Bank as well as a banking and insurance commissioner for the State of Delaware in the early 20th century. He was an early advocate of the Federal Reserve System. Family records state that several generations of McCabe's mother's maternal and paternal ancestors were early settlers of Maryland and Delaware, on the Delmarva Peninsula. He was awarded the Vermilye Medal in 1963, which is given to individuals who have leadership in business and industry in the industries of science and technology. McCabe attended preparatory school at Wilmington Conference Academy (now called Wesley College) in Dover, Delaware, from 1907-1910. Following graduation from WCA, he entered Swarthmore College, where he studied Economics, graduating in 1915 with an Associate bachelor's degree. While attending Swarthmore, he joined the fraternity Delta Upsilon, as well as the Book & Key secret society. In addition, he held honorary doctoral degrees from 15 colleges and universities In 1916 McCabe joined Scott Paper as a $15-a-week salesman when he was 23 years old. Scott Paper was then a small one-mill paper company. In 1917, McCabe left Scott temporarily to serve in World War I. He enlisted as a private and advanced to captain by 1919. McCabe returned to civilian life and to the Scott Paper Company at the age of 26. He advanced rapidly, moving up from assistant sales manager to become the president and CEO by age 34.[8] By the late 1940s, McCabe was described as having shown "an advanced and enlightened policy that made the company a recognized standard for modern manufacturing and sales operations". He introduced music into the mill during working hours, stock purchase plans; insurance, hospitalization, recreation, and retirement plans, at a time when benefits such as those were relatively new for American workers. McCabe transformed Scott Paper from a 500-person paper mill company in Chester, Pennsylvania, into a multinational concern with over 60 manufacturing plants throughout the world employing over 40,000 people. By the time he retired from the company's board in 1980, Scott Paper had become a $2 billion operation.
Price: 399.99 USD
Location: Fort Lauderdale, Florida
End Time: 2024-12-24T20:53:28.000Z
Shipping Cost: 0 USD
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Item Specifics
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 14 Days
Refund will be given as: Money back or replacement (buyer's choice)
Sport: Golf-PGA
Signed: Yes
Original/Reprint: Original
Product: Index Card
