Handwritten on the back, "January 1929- Left to right: T.W. Sullivan, J.C. Smith, E.C. Lipman, H.S. Fisher, F.W. Hatch." Photo is a group portrait of the men standing and laughing together. T.W. Sullivan: In 1927 Sullivan was merchandise manager of Capwells. In the months prior to the opening of the new H.C. Capwell store at 20th and Broadway, the owners of the old Capwells store, who held key positions in the new company, decided to resign, en masse. They feared the new store would be located to far uptown. They resigned and opened a new store- Capwell, Sullivan and Furth at the location of the old Capwell store at 14th & Clay. Members of the new firm were C.E. Capwell, T.W. Sullivan, and E.H. Furth. E.C. Lipman: E.C. Lipman is made vice president of H.C. Capwell Co. in 1929. He also becomes the manager of H.C. Capwell Co. in 1930. In 1936 he is made the managing director of H.C. Capwell Co. In 1937 he gives up this position to succeed R.P. Connally as the managing director of the Emporium. H.S. Fishers: In 1929 he became a vice-president with the Emporium Co. with several others to form a new General Executive Board. In 1930 he became one of several Directors. Became president of the company in 1936. J.C. Smith: Became Capwell's Sales Manager in 1931.