Fred A. Bantz, nominated to be Assistant Secretary of the
Navy (Material) by President Eisenhower on March 18, 1957, was sworn into
Office on April 10, 1957, after being confirmed by the Senate on April 9,
1957. Mr. Bantz succeeded Mr. Raymond H.
Fogler, who resigned on January 12, 1957.
On June 8, 1959, he became Under Secretary of the Navy, succeeding
William B. Franke.
Mr. Bantz was born in St. Paul, Minnesota, June 25,
1895. His parents, Matthias and Louise
Bantz, were both in the United States.
Received his education in the public and parochial schools of St. Paul,
Minnesota. On January 4, 1923, married
Kathryn A. McDonald of St. Paul.
First employed in May 1912 by the firm of Lindeke Warner
sons Company, Inc., St. Paul. This
company was engaged in the manufacturing of heavy outdoor clothing, and also as
jobbers of apparel and dry goods. Bought
various lines of merchandise, and during last two years of service operated
their factories. Continuous employment,
with the exception of service in World War I, until resignation in September
1922. This firm was liquidated some 20 years ago.
Entered employment if the J.C. Penney Company, Inc., New
York City, November 1, 1922. The Penney
Company is a retail organization with approximately 1700 stores located in each
of the states of the United States.
Their business is strictly retailing.
They do no manufacturing. Their
principal sales result from apparel for the family, as well as home
Continuous employment with the J.C. Penney Company until
retirement date July 1, 1955, under the Company’s retirement plan, which calls
for retirement on July 1st of the year in which a individual reaches
his 60th birthday. Started in
with this company as a buyer, and purchased many different lines of
merchandise; in 1930 was appointed Head of one of their large buying divisions,
and in 1932 assumed responsibility of a second large buying division. Was elected Director in 1945; made Assistant
Merchandise Manager in July 1950.
Included in responsibilities of General Merchandise Manager was the
supervision of all buying, warehousing, distribution, and pricing at retail, of
all merchandising sold in Penney stores.
A short time after retirement, at the request of the Penney
Company, Mr. Bantz made an extensive study of markets in the Far East as well
as Europe. These are the only business
activities since retirement.