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GeorgeWoods was born in Boston in 1901. After high school he entered the work force as an office boy at Harris, Forbes and Co., a leading underwriter of municipal and utility bonds.
Woods became an acknowledged master of corporate finance because he was innovative and not limited by conventions in dealing with the problems.
Woods came to the Bank with a clear sense of the important role the Bank would play in the development field. He recognized that the development problem was a uniquely economic problem, not only one of the many issues within the context of the East-West conflict.
The Woods family, at one time wealthy and socially prominent, were the pioneer land owners in Hazelwood, John Woods building the old stone house, quarrying the material himself from the land.
Miss Woods relates that one night Foster visited her mother's home on Penn Avenue in company with a friend McCarty, and in a burst of inspiration sat down at the piano and composed "Jennie, with the Light Brown Hair." At another time he was present when Mrs.
Woods' old Negro servant poked her head in the door and this so interested Foster that he asked, laughing, who she was.