FIRST MORTGAGE BONDS AND NOTES
The Palmer House
The Conrad Hilton
Installment Purchase Contract.
In May, Dean Carpenter, a vice president
and a director of Hilton Hotels International, Inc., was appointed as special
European representative for Hilton Hotels
Corporation. Mr. Carpenter had been general manager of the Plaza Hotel since May
1, 1951, and general manager of the Hotel
Roosevelt prior to that.
Also in May, John W. Houser was elected
executive vice president of Hilton Hotels
International, Inc. Mr. Houser had served
as general manager, vice president, and
director of that corporation since its formation in 1948.
In July, Arthur E. Elmiger, formerly general manager of the Caribe Hilton Hotel in
San Juan, Puerto Rico, was appointed general manager of the new Castellana Hilton
Hotel in Madrid, Spain. Robert J. Caverly,
vice president of Hilton Hotels International,
was appointed as general manager of the
Caribe Hilton, to succeed Mr. Elmiger.
At the beginning of the new year, we
suffered a great loss in the death of Mr.
James B. Herndon, Jr., vice president of
Hilton Hotels Corporation and treasurer of
the Hotel Waldorf-Astoria Corporation. Mr.
Herndon, who had been ill for six months,
died in New York on January 4, 1953.
His passing is deeply felt not only by the
officers, directors and employees of the Hilton Hotels organization with whom he had
been associated since 1929, but by his many
friends and associates throughout the country, including members of the American
Hotel Association and Williamsburg Restoration, Inc., for whom, at the time of his
death, he was, respectively, board chairman
Relations with the 12,000 employees of
the Hilton Hotels organization continued
on a harmonious basis in 1952. We are aware
of the fact that the loyalty and high performance standards of our employees have
contributed much toward the successful
operation of the Corporation and are appreciative of that fact. This appreciation was
expressed in the establishment, in 1951, of
the Hilton Hotels Employees Pension Plan
which gives Hilton workers a measure of
financial independence when their period
of service to the Corporation ends. The
Corporation bears the entire cost of this
plan and contributed $400,000 to it in 1952.