Walter W. Head
Encyclopedia
Walter William Head was an American
bank
er and insurance
executive. He was president and founder of the General American Life Insurance Company, now a part of MetLife, and president of the American Bankers Association
. Head also served as national president of the Boy Scouts of America for nearly twenty years, from 1926 to 1946.
. He was the first of five children born to Alfred Walter Head and Margaret Jane Lambert. The New York Times
said that Head "was deeply influenced by his mother, a devout woman who imbued him with a warm, human philosophy of life". At age 8, he moved with his family to a rural area of DeKalb County, Missouri
, where he attended public schools. After graduating from Northwest Missouri State Teachers College (Maryville), Head began teaching in a one-room schoolhouse and, at age 24, was named school principal in the town of De Kalb, Missouri
.
, becoming the bank's president in 1920. During his time as bank president in Omaha, Walter Head also became president of the American Bankers Association
and a director of New York Life Insurance Company
.
In 1929, Head took over as president of State Bank of Chicago
. Upon his arrival, Head guided State Bank through a merger with Foreman National. When Foreman National was acquired by First National Bank in 1931, Walter Head resigned to become president of Morris Plan Corp., a New York-based banking organization making small loans to moderate income families through banks in more than 100 U.S. cities. At the time, Morris Plan was the largest industrial banking system in the U.S., with $200 million in annual business and 800,000 customers.
. The new company was formed by Equity Corporation, controlled by David Milton (son-in-law of John D. Rockefeller, Jr.
). Equity had acquired the business of Missouri State Life in bankruptcy court in September, 1933, following Missouri State Life's collapse during the Great Depression
. Milton recruited Head to be the founder and first president of General American Life and take over Missouri State Life's business. Head continued as president of Great American Life Insurance until January, 1951, when he was succeeded by P. B. McHaney.
Head was appointed by Nebraska Governor Samuel R. McKelvie
in 1920 to the Nebraska Capitol Commission, which was responsible for the construction of the new Nebraska State Capitol
building.
Head served as fourth and sixth national president of the Boy Scouts of America. His first term was from 1926–1931. His successor, Mortimer L. Schiff
died after one month in office; Head then served from 1931-1946. During his presidency, the Boy Scouts of America
(BSA) held its first national Scout jamboree
in Washington, D. C.. Head joined U.S. Pres.
Franklin D. Roosevelt
and BSA Chief Scout Executive
James E. West
in a radio address to the nation from the Oval Office
announcing the event in 1937.
and arteriosclerosis
. He died of pneumonia
at Stamford Hospital
in Stamford, Connecticut
, on May 3, 1954 and was survived by one daughter.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
er and insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
executive. He was president and founder of the General American Life Insurance Company, now a part of MetLife, and president of the American Bankers Association
American Bankers Association
The American Bankers Association is an industry trade group and professional association representing the United States' banking industry...
. Head also served as national president of the Boy Scouts of America for nearly twenty years, from 1926 to 1946.
Early life
Walter William Head was born December 18, 1877 on a farm near Adrian, IllinoisHancock County, Illinois
Hancock County is a county located in the U.S. state of Illinois. According to the 2010 census, it has a population of 19,104, which is a decrease of 5.1% from 20,121 in 2000. Its county seat is Carthage. Hamilton is the largest city in Hancock County, with Carthage being the second largest...
. He was the first of five children born to Alfred Walter Head and Margaret Jane Lambert. The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
said that Head "was deeply influenced by his mother, a devout woman who imbued him with a warm, human philosophy of life". At age 8, he moved with his family to a rural area of DeKalb County, Missouri
DeKalb County, Missouri
DeKalb County is a county located in the U.S. state of Missouri. As of 2010, the population is 12,892. The county was organized in 1845 and is named after the American Revolutionary War general Johann de Kalb. The county along with Buchanan and Andrew counties in Missouri and Doniphan County,...
, where he attended public schools. After graduating from Northwest Missouri State Teachers College (Maryville), Head began teaching in a one-room schoolhouse and, at age 24, was named school principal in the town of De Kalb, Missouri
De Kalb, Missouri
De Kalb is a city in Buchanan County, Missouri, United States. The population was 257 at the 2000 census, at which time it was a town. It is part of the St...
.
Banking
Head left teaching for the banking field in 1904, starting as a bank cashier at age 26. In 1917, he was named vice president of Omaha National Bank in Omaha, NebraskaOmaha, Nebraska
Omaha is the largest city in the state of Nebraska, United States, and is the county seat of Douglas County. It is located in the Midwestern United States on the Missouri River, about 20 miles north of the mouth of the Platte River...
, becoming the bank's president in 1920. During his time as bank president in Omaha, Walter Head also became president of the American Bankers Association
American Bankers Association
The American Bankers Association is an industry trade group and professional association representing the United States' banking industry...
and a director of New York Life Insurance Company
New York Life Insurance Company
The New York Life Insurance Company is one of the largest mutual life-insurance companies in the United States, and one of the largest life insurers in the world, with about $287 billion in total assets under management, and more than $15 billion in surplus and AVR...
.
In 1929, Head took over as president of State Bank of Chicago
State Bank of Chicago
State Bank of Chicago was an American banking firm which conducted business under a state of Illinois charter issued on February 10, 1891. State Bank of Chicago operated from offices in the Chamber of Commerce Building located at the southeast corner of La Salle and Washington streets in Chicago,...
. Upon his arrival, Head guided State Bank through a merger with Foreman National. When Foreman National was acquired by First National Bank in 1931, Walter Head resigned to become president of Morris Plan Corp., a New York-based banking organization making small loans to moderate income families through banks in more than 100 U.S. cities. At the time, Morris Plan was the largest industrial banking system in the U.S., with $200 million in annual business and 800,000 customers.
Insurance
Head left banking in 1933, when he became the first president of Great American Life Insurance Company in St. Louis, MissouriSt. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
. The new company was formed by Equity Corporation, controlled by David Milton (son-in-law of John D. Rockefeller, Jr.
John D. Rockefeller, Jr.
John Davison Rockefeller, Jr. was a major philanthropist and a pivotal member of the prominent Rockefeller family. He was the sole son among the five children of businessman and Standard Oil industrialist John D. Rockefeller and the father of the five famous Rockefeller brothers...
). Equity had acquired the business of Missouri State Life in bankruptcy court in September, 1933, following Missouri State Life's collapse during the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
. Milton recruited Head to be the founder and first president of General American Life and take over Missouri State Life's business. Head continued as president of Great American Life Insurance until January, 1951, when he was succeeded by P. B. McHaney.
Civic
Samuel R. McKelvie
Samuel Roy McKelvie was a Nebraska Republican politician best known for being the 19th Governor of Nebraska. He was also the Lieutenant Governor of Nebraska from 1913 to 1915 and a delegate to the Republican National Convention in 1936 and 1944. In On April 15, 1922 he helped break ground for...
in 1920 to the Nebraska Capitol Commission, which was responsible for the construction of the new Nebraska State Capitol
Nebraska State Capitol
The Nebraska State Capitol, located in Lincoln, Nebraska, is the house of the Nebraska Legislature and houses other offices of the government of the U.S. state of Nebraska....
building.
Head served as fourth and sixth national president of the Boy Scouts of America. His first term was from 1926–1931. His successor, Mortimer L. Schiff
Mortimer L. Schiff
Mortimer Loeb Schiff , sometimes Mortimer Leo Schiff, was an American banker and notable early Boy Scouts of America leader. His son John Mortimer Schiff was also involved with the BSA.-Biography:...
died after one month in office; Head then served from 1931-1946. During his presidency, the Boy Scouts of America
Boy Scouts of America
The Boy Scouts of America is one of the largest youth organizations in the United States, with over 4.5 million youth members in its age-related divisions...
(BSA) held its first national Scout jamboree
National Scout jamboree (Boy Scouts of America)
The national Scout jamboree is a gathering, or jamboree of thousands of members of the Boy Scouts of America, usually held every four years and organized by the National Council of the Boy Scouts of America. Referred to as "the Jamboree", "Jambo", or NSJ, Scouts from all over the nation and world...
in Washington, D. C.. Head joined U.S. Pres.
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
Franklin D. Roosevelt
Franklin D. Roosevelt
Franklin Delano Roosevelt , also known by his initials, FDR, was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war...
and BSA Chief Scout Executive
Chief Scout Executive
The Chief Scout Executive is the top professional of the National Council of the Boy Scouts of America. In most similar non-profit organizations, this is equivalent to the position of executive director....
James E. West
James E. West (Scouting)
Dr. James E. West was a lawyer and an advocate of children's rights, who became the first professional Chief Scout Executive of the Boy Scouts of America , serving from 1911–1943. Upon his retirement from the BSA, West was given the title of Chief Scout.-Personal life:His father died around the...
in a radio address to the nation from the Oval Office
Oval Office
The Oval Office, located in the West Wing of the White House, is the official office of the President of the United States.The room features three large south-facing windows behind the president's desk, and a fireplace at the north end...
announcing the event in 1937.
Death
A year after the death of his wife (the former Della Thompson) in 1951, Head entered a nursing home due to Parkinson's diseaseParkinson's disease
Parkinson's disease is a degenerative disorder of the central nervous system...
and arteriosclerosis
Arteriosclerosis
Arteriosclerosis refers to a stiffening of arteries.Arteriosclerosis is a general term describing any hardening of medium or large arteries It should not be confused with "arteriolosclerosis" or "atherosclerosis".Also known by the name "myoconditis" which is...
. He died of pneumonia
Pneumonia
Pneumonia is an inflammatory condition of the lung—especially affecting the microscopic air sacs —associated with fever, chest symptoms, and a lack of air space on a chest X-ray. Pneumonia is typically caused by an infection but there are a number of other causes...
at Stamford Hospital
Stamford Hospital
Stamford Hospital is a private, nonprofit, community and teaching hospital in Stamford, Connecticut, with 440 affiliated doctors.The hospital has 305 inpatient beds in medicine, surgery, obstetrics/gynecology, psychiatry, and medical and surgical critical care units.As of 2005, Stamford Hospital...
in Stamford, Connecticut
Stamford, Connecticut
Stamford is a city in Fairfield County, Connecticut, United States. According to the 2010 census, the population of the city is 122,643, making it the fourth largest city in the state and the eighth largest city in New England...
, on May 3, 1954 and was survived by one daughter.
See also
- History of the Boy Scouts of AmericaHistory of the Boy Scouts of AmericaThe Boy Scouts of America was inspired by and modeled on the Boy Scout Association, established by Baden-Powell in Britain in 1908. In the early 1900s, several youth organizations were active, and many became part of the BSA .The BSA grew rapidly and became the largest youth organization in the...