Pennsylvania Railroad Company. Financial Dept.
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Pennsylvania Railroad Company. Financial Dept.
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Pennsylvania Railroad Company. Financial Dept.
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Biographical History
The office of Vice President-Treasury, Accounting & Corporate Work was created on July 1, 1925, upon the retirement of Vice President-Finance Henry Tatnall. The duties of Vice President-Finance and Vice President-Accounting & Corporate Work were combined in the new office. In 1929 the Accounting Dept. was placed under a separate vice president, and the office was titled Vice President-Finance & Corporate Relations.
The Vice President-Treasury, Accounting & Corporate Work had a wide array of duties. As head of the Treasury (Financial) Department, he had responsibility for the financial affairs of the PRR and all lines owned, operated or controlled by it. He also exercised control over the corporate organization of these companies, overseeing the details of their incorporation, consolidation, dissolution, or merger. He also was responsible for the acquisition or creation of new companies as dictated by the interests of the PRR and its leased or controlled lines. As head of the company's Accounting Department (1925-1929) he supervised the preparation of accounts, reports and statistics covering the revenues, disbursements and assets of the whole system. He also had jurisdiction over the Employees Savings Fund.
The only individual to serve in this post was Albert J. County. County had been born in Dublin, Ireland, on August 1, 1871. At the age of 15 he began his railroad career by entering service in the Purchasing Department of the Great Southern & Western Ry. of Ireland. After five years of this work, he emigrated to the United States, where he joined the PRR, starting as a clerk in the Secretary's Department in November 1890. He rose steadily by promotions to become Assistant Secretary in Philadelphia by 1901. That same year he was appointed Superintendent of the Employees Savings Fund under the supervision of the First Vice President, John P. Green.
In June 1906 County became Assistant to the Third Vice President, Samuel Rea. This marked the beginning of a ten year-long relationship between the two, during the course of which Rea was promoted repeatedly, taking County along with him as his assistant each time, ending as Special Assistant to President Rea (1913-1916). In March of 1916 County was promoted to his first executive position, becoming Vice President-Accounting. In this capacity he was responsible not only for supervision of the accounts of the PRR system but also for maintenance of the corporate organization of the branch and affiliated lines east of Pittsburgh. In 1920 he was appointed to the Board of Directors of the PRR. In 1923 his corporate work responsibilities were expanded to cover the entire PRR system and he was appointed Vice President-Accounting & Corporate Work. On July 1, 1925 he became Vice President-Treasury, Accounting & Corporate Work.
On June 1, 1929, due to another departmental reorganization, County's title was changed to Vice President-Finance & Corporate Relations. At the same time, he turned over his accounting duties to the Vice President & Comptroller in order to devote his full attention to financial matters and corporate relations. He retired from the PRR on November 30, 1938, after 48 years of service. County died six years later, on August 20, 1944.
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Antitrust law
Bus lines
Canals
Consolidation and merger of corporations
Executives
Holding companies
Pensions
Public relations
Railroad law
Railroads
Railroads
Railroads
Railroads
Railroads
Railroads
Steamboat lines
Trucking
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Hell Gate Bridge (New York, N.Y.)
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Saint Lawrence Seaway
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Michigan
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