Walter H. Kidd dies at 82 was investment executive

October 19, 1990

Graveside services for Walter H. Kidd, a retired executive vice president of T. Rowe Price Associates Inc. who had been with the investment firm since its inception, will be held at 11 a.m. tomorrow at the Mifflin Cemetery in Gahanna, Ohio.

Mr. Kidd, who was 82, died Tuesday at the Keswick home after a series of strokes.

He retired in 1972 as executive vice president and director of the company, with which he had been associated since 1938. He also had served as an officer or director of related companies and mutual funds.

Mr. Kidd began working for T. Rowe Price in 1933 when Mr. Price headed the investment management department of Mackubin, Legg & Co., a predecessor of Legg, Mason & Co.

Much of his career was spent heading research for the company, making about 900 visits to nearly 200 companies himself. He had recommended such purchases as 3M, or Minnesota Mining and Manufacturing Co., which became known for Scotch Tape and other products, at $1 a share in 1939.

"His research was invaluable to a small firm. We had total confidence in his recommendations," said Charles Schaeffer, who also joined the company early in its history and later served as its president.

However, Mr. Kidd stayed behind the scenes. "He always arranged things so that someone else got the glory," said Mr. Schaeffer. He described Mr. Kidd as a tough, but fair-minded person whose friendship he had valued.

A native of Gahanna, Mr. Kidd was a 1929 graduate of Ohio State University in nearby Columbus, where he earned a degree in architectural engineering.

He then worked two years for the Mount Vernon Bridge Co. in Mount Vernon, Ohio, before earning a master's degree at the Harvard business school and entering the investment business in Baltimore.

He served as an officer in the U.S. Army Air Forces during World War II.

Before the war, he had been active in the early days of the Baltimore Junior Association of Commerce and the state Junior Chamber of Commerce. He served as an officer and board member of the city group. He also was a board member of the state group and its first representative on the national Junior Chamber of Commerce board.

In the late 1930s and early 1940s, he was named to committees overseeing the construction and early operations of the Municipal Airport, or Harbor Field, the site of the present Dundalk Marine Terminal.

He had chaired the Aviation Committee of the Junior Association of Commerce and, after World War II, served on the Aviation and Military Affairs committees of the Association of Commerce.

In Baltimore, affiliates of national Chamber of Commerce organizations were known as associations because the local grain exchange was named the Chamber of Commerce.

The first treasurer of the Citizens Planning and Housing Association in 1941, he returned to that post after World War II and continued in it until 1969. He also served on the organization's board for many years.

He taught an evening course on corporate finance at the Johns Hopkins University during the 1950s and early 1960s, becoming a member of the Visiting Committee for the Evening College and a financial supporter of the university.

He was also a registered professional engineer in Ohio for many years.

A member of the Merchants Club, the Center Club and the Harvard Club of Maryland, he liked to travel and to watch football and baseball games.

He is survived by several cousins in Ohio.

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