Camden Courier-Post – January 9, 1928
Gives Up Charge of Export Department to Enter Insurance Firm
IN EMPLOY OF COMPANY DURING PAST 21 YEARS
No Successor is Named; Was One of Johnson’s Aides in 1901
Formal announcement of the resignation of Walter J. Staats as vice president of the Victor Talking Machine Company, in charge of exports and foreign trade, was made today at the executive offices of the concern in Camden.
No immediate choice of a successor to Mr. Staats in the vice presidency will be made, it was stated, and no shift in executive personnel of the company is expected at present.
Daniel P. Mitchell, export manager, will take over a more complete control of that department as a result of Mr. Staats’ resignation.
The retiring vice president is one of the small group associated with Eldridge R. Johnson, founder of the Victor Company, during the early days of the industry here. He entered the employ of the company in 1901.
"His career," says the announcement given out today at the concern’s offices, "has been one of conspicuous success. From the beginning Mr. Staats was interested in the financial department. In March 1910 he was elected to the board of directors. In February, 1912 he was appointed comptroller; the following year assistant treasurer, and later was made assistant secretary. In January, 1920 he was appointed treasurer.
"Long experience as an officer of the company in charge of the financial departments and operations admirably fitted Mr. Staats for his next important post- that of vice president.
"During his long and distinguished career with Victor, Mr. Staats made a host of friends in the talking machine trade, who will regret his decision to transfer his activities to other fields."
At the time of the reorganization of the Victor Company last year, when Mr., Johnson’s controlling interest was sold to a group of New York bankers and when Edward E. Shumaker was chosen president, Mr. Staats became vice president in charge of exports and foreign tirade. At that time, E.C. Grimley succeeded him as treasurer, which position he now occupies.
Mr. Staats recently became vice president and treasurer of the Smith-Austermuhl Company, insurance organization here, by purchasing the financial interest of the late Andrew B.F. Smith. This purchase divided the interest in the firm equally between Charles Austermuhl, David Baird Jr., and Staats.
Widely known in South Jersey business and social circles, Mr. Staats is a director of the West Jersey-Parkside Trust Company and of the First National Bank of Philadelphia. His home is at 24 West Maple Avenue, Merchantville.