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Memorandum Re: Ronald Ransom and Gen.Persons*
After much deliberation I am inclined to prefer Ranson for the
following reasons:
l~His bank is in a somewhat better position as indicated by
attached reports•
2-The financial position ®£ Persons, as shown in the attached
memorandum*
• 3-Ransom would be //iiling to take a long appointment,whereas
Persons is only willing to accept a S-year term;jqy feeling is that he
desires to upe the position on the Board as a stepping stone to a more
important bank connection,possibly in New lorkjam inclined to think he
might like to%et out of the bank in Birmingham, as this bank is dominated
by Oscar Wells, Chairman of the Board, and it is i y understanding that
c
they do not get along too well together;the Board salary would not mean a
reduction for him for while his salary as President of the bank is |17,500
he is paying over |2500 of it under the-agreement as to his indebtedness.
4-In i y opinion Ransom would look upon Board membership as a
c
career, rather than a stepping stone or point of transfer;I feel certain that
he would be co-operative and as loyal as Personsjfrom what I am told by
prominent Southern bankers who know both men well, I am led to think that
Ransom would be less rigid and old f s t h 6 i f ,
.?iifd
5-Although Persons is more aggressive and a more positive character,
Ransom is better known in the banking fraternity throughout the country and has
a wider acquaintance which would te.of some advantage to the Boards
6-Ransom is a lawyer and well versed in national banking legislationj
moreover, his banking relationship is primarily that of trust officer heading
up the trust department of his institution whereas Persons1 experience has
been more in general commercial banking with which Mr.Broderick and myself h r r
sae
had experience;thus Ransom1s experience would bring to the board what no other
member now has.
Although either man would be eminently satisfactoiy to me, I find
that on thoroughly analyzing the differing qualifications of both and
considering the general picture of the Board, I am led to the conclusion
that Ransom would be somewhat to be preferred.