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In the June Technology Review (p. 29), this is noted as the third annual lecture on aviation history. An old friend, General Doolittle, gave an interesting presentation of 'Only Yesterday in Aviation.' So, a salute to Lester for his keen publicity projects, of which we had a number while he was with us." After a kind puff to the secretaries, which both greatly appreciated, and an appeal to classmates to help keep the "pot-a-boiling," and the usual helpful statistics and necrology, Dan paid a fitting tribute to our classmate, Karl W. Waterson. Karl was so well known by M.I.T. men and officials, and by many who are not M.I.T. graduates but are prominent in business and read The Technology Review, that we will include the entire tribute in the '98 Class Notes: "Karl W. Waterson, at the time of his retirement in 1941, was a vice-president of the American Telephone and Telegraph Company; also a director of Bell Telephone Laboratories. He spent his entire business period of 43 years with this company. The following lists a few of the highlights of a notable career to indicate the range of his activities. In June, 1898, he graduated in the Electrical Engineering Course. At that time Electrical Engineering was in its infancy and just beginning on its way to developments and uses of the later years. He immediately joined the Bell Telephone System in Boston. His engineering work was so successful that in 1905 he was transferred to the New York headquarters and placed in charge of the Central Office of Traffic Engineering. From 1909 to 1919 he undertook the vast job of improving and standardizing traffic operations. During this period it should be noted that during World War I Karl was representative for the Bell System in Washington on telephone facilities required by the army and the navy. In 1927 he was appointed assistant vice-president in charge of Plant Operations, Traffic and General Operating Results. This covered all kinds of problems. It required executive management ability, which had been evident from his first association with the company, and especially engineering knowledge of the type required for the telephone industry. The telephone system was rapidly growing in size and complexity, so increasing departmentalization was necessary. Karl, through his ability, was appointed to high offices and assumed responsibility for phases other than strictly engineering. His last assignment before retiring was in 1937, when he was in charge of the Personnel Relations Section with its many questions in maintaining and improving the good personnel relations which have existed generally throughout the Bell System. "The tribute paid to Karl on his retirement by the Information Department of the Bell System is here quoted in part. It is a most interesting summation: 'A notable career was concluded when Vice-president Karl W. Waterson retired from the service to which he had made outstanding contributions. For many years Mr. Waterson had a leading part in the development of standard Bell System methods, especially in the field of traffic operations. His accomplishments in no small measure helped to pave the way to modern telephone service. It is impossible to look at telephone services and not discern the influence of Mr. Waterson's leadership and judgment.' In 1958 he moved from Summit, N. J. to Chelsea, Vt., which was his birthplace. He died January 24, 1961. His wife survives, also a son in the medical profession, a daughter married to a college professor. So to Karl: Ave Atque Vale." In a recent issue of the Boston Morning Herald was contained the following interesting information concerning the Yankee Atomic Electric Company: "Final costs for New England's first atomic electric project will run about $13,000,000 below the estimates, it was revealed by William Webster, '23, President of Yankee Atomic Electric Company, at a meeting here of the New England Conference of Public Utility Commissioners. Webster, who is also president of New England Electric System, reported that the final capital requirements for the Yankee project at Rowe, Mass., will be about $43,700,000, compared to the $57,000,000 estimated at the time financing arrangements were set up. Yankee capitalization based on the lower than anticipated costs will be $15,330,000 in bonds, $13,031,000 short-term bank notes and $15,330,000 in common stock. The common stock is all owned by the participating companies. Webster told the utility commissioners that the Yankee plant 'has not only performed satisfactorily but somewhat better than had been expected.' So far the atomic electric project has turned out over 400,000,000 kilowatt hours of electricity, or about 4 per cent of the normal electric load in New England." It will be remembered that at a meeting of the M.I.T. Club of Boston, on April 20, this company was first described, as was noted in the July Technology Review, '98 Class Notes, Column 2, lines 23-40. Our classmate, Roger W. Babson, is still active, as will appear from the following clipping from the Newsweek of August 26, which we have received through the courtesy of our president, Daniel W. Edgerly: "Gloucester, Mass. Roger W. Babson, the business analyst and educator who built a worldwide reputation as an investment analyst in the wild bull market of the '20's and clinched it by calling the Wall Street crash a month before the bubble burst, is 86 and going strong. Up at 6 and to bed at 11, he puts in a full day writing a widely syndicated business column, reading, and indulging in his favorite hobby - talking. White-haired and with matching goatee, Babson spends his summers in a rambling white house in this waterfront town where he was born. (He invited Khrushchev to drop in for a chat last year, but the Soviet Premier never showed.) During the winter he and his second wife, Nona, live in a medium-size brown house in Wellesley, site of the Babson Institute of Business Administration which he founded in 1919. A branch of the college is located at a 'bomb-proof' (by 1946 standards) campus he built that year near Eureka, Kansas. Though he does not expect any crash in the foreseeable future, Babson still frets about the stock market: 'Expect the unexpected.' "-Edward S. Chapin, Secretary, 2 Gregory Street, Marblehead, Mass.; Frederic A. Jones, Assistant Secretary, 265 Chestnut Hill Avenue, Brighton 35, Mass. '99 Through the courtesy of Carroll W. Brown of Rye Beach, N.Y., a close friend and associate of John B. Ferguson of Hagerstown, Md., I learned of John's death on May 2. Enclosed with the letter were a number of clippings, from which I have extracted the following information. After being graduated from M.I.T. in civil engineering, John became division engineer for the Chicago, Burlington and Quincy Railroad. Later he was with the Pennsylvania Railroad as assistant superintendent, and later railway engineer for the Ohio Electric Railway. In 1909 he established the firm of J. B. Ferguson and Company. By 1920 the firm was engaged in survey work, design appraisals, development and construction of various projects. During World War I, the firm was supervising engineer of five service camps, all on the Virginia peninsula. In 1919-1921, the firm was manager of the Hagerstown Home Corporation, and during World War II it was architect-engineer for the Richmond Army Airfield. John was president of the Hagerstown Chamber of Commerce during 1930-1939. He served as Hagerstown's city engineer from 1914-1926, county surveyor 1916-1930, chief engineer of the Sewage Commission, member Maryland Geological Survey Commission 1923-1924. Dudley M. Pray died on April 26. Through the courtesy of a nephew, I have obtained the following details in regard to his life. For a number of years he was a manufacturer of plant food. During World War I, he was in the United States Navy and was later active in the Naval Reserve and the Massachusetts Naval Militia. He was a trustee of the South Boston Savings Bank, a member of St. Paul's Masonic Lodge, the Boston Youth Club, and commodore of the Puritan Canoe Club. For some years he instructed Sea Scouts in the handling of small boats.... James B. Ellery, whose passing was recorded in the July issue, had three daughters but no sons, so the name Ellery will cease with him. I received notice that Miss Christina H. Garrett, Course IV, formerly of Oxford, England, has not been heard from for a long time and has presumably passed away. If anyone has any information concerning her, please contact me.-Burt R. Rickards, Secretary, 349 West Emerson Street, Melrose 76, Mass.; Percy W. Witherell, Assistant Secretary, 84 Prince Street, Jamaica Plain, Mass. '00 The class was represented on Alumni Day last June, as usual, by the faithful few, including: Stanley Fitch, Alek and NOVEMBER, 1961 81
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