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Changes in American Ship © Ne C. Wallace Resigns as President and Edward Smith 'is Elected to Succeed Him--M. E. Farr is Vice President AMES C. WALLACE resigned as president of the American Ship Building Co., during the latter part of September and Edward Smith of Buffalo was elected to succeed him. Mr. Wallace had been identified with the American Ship Building Co. since its formation, having been made gen- eral manager when the various yards were combined in 1899. He. subse- quently succeeded W. L. Brown as president of the company and under EDWARD SMITH PRESIDENT AMERICAN SHIP BUILDING CO. his administration the lake fleet' was greatly increased and the type of bulk freighter practically revolutionized, Fler undoubtedly wrote more orders fot steel freighters than any man who has ever been associated in the ship build- ing - business. Edward Smith, his successor, has been identified with lake trade. since the days of sailing vessels and he will undoubtedly prove a very valuable asset for the ship building company as he possesses unusual' qualities as an execu- tive officer. Mr. Smith's methods are very quiet. He is rarely in the lime- light but the general opinion of him is that he is one of the big men in lake trade. His career has been long and arduous and he has been in many a fight, but it has been said of him that whatever he went into he always came out perfectly clean. His first important connection was with the firm of Brown & Co., Buffalo, of which he became the silent but controlling factor. He was a leading figure in systematiz- ing the insurance business of the great lakes, which eventually led to the founding of the Great Lakes Register. When H. Coulby relinquished the presi- dency of the Great Lakes Towing Co., after bringing order out of chaos, to accept the presidency of the Pittsburgh Steamship Co., Mr. Smith was regarded as the one man capable of succeeding him. Mr. Smith's business methods are thoroughly sound and no doubt what- even: 1S expressed that the American Ship Building Co. will thrive under his management. He has for many years been the president of the Buffalo Dry Dock Co., which position he will con- quickly . tinue to hold, though he has announced his intention of resigning from the towing company in order to devote his entire attention to the ship building business. Mo ei. Parr, vice president of the who has been elected American Ship - Building Co., is one of Detroit's best known men. He was born in Clayton, Jefferson county, N. Y., on October 5, 1863, and after graduating from the Clayton high school followed the lakes #. FARR MEE VICE PRESIDENT AMERICAN SHIP BUILDING CO. for one season. In the following year he entered the employ of the banking firm of Elias Farr & Co., located at Marquette, Nebraska. At the age of 21 he was made cashier of the bank, which was later under the title of The Bank of Marquette and still later as the First National Bank. At the age of twenty-two Mr. Farr had full charge of the bank's affairs. In 1892 he went to Detroit and entered the employ of the Detroit Dry Dock Co. as book-keeper and cashier. In May 1899 he was made secretary and treasurer and in 1905 succeeded W, incorporated