Herbert R. Silverman, 91, a prominent figure in the development of commercial finance, died Thursday at his Manhattan home.
Mr. Silverman was an innovator in factoring, the practice of lending money to businesses and taking over their accounts receivable. An alternative to dealing with banks, factoring was considered a staid old-line business in the 1930s.
With innovators such as Mr. Silverman, it became an industry attuned to the changing ways business was done. He founded Centaur Credit Corp., a commercial finance company, which merged in 1945 with James Talcott Inc., one of the oldest factoring firms.
Talcott grew into one of the largest commercial lenders. Mr. Silverman retired as chairman of the executive committee of Talcott National Corp. in 1975.
Roxie C. Laybourne, 92, who pioneered the science of forensic ornithology to help protect airplanes from collisions with birds, died Aug. 7 in Manassas, Va.
She worked at the Smithsonian Institution's National Museum of Natural History, where she developed the specialty of identifying dead birds from their feathers to learn what types of birds struck planes.
Her findings helped in the development of bird management programs to discourage flocks from congregating around airports and improvements in airplane engines.