James E. Smith, president and chief executive officer of T. Smith & Son, Inc., and New Orleans investor W.K. McWilliams Jr. recently announced that the sale of the New Orleans stevedoring firm T. Smith & Son, Inc., its principal affiliate, Crescent Towing & Salvage Company, Inc., and their affiliated port service companies have been concluded.

The purchaser is a private company owned by Mr. McWilliams, James R. Moffett, William A. Hines, John G. Amato, and their families. The execution of the agreement to purchase was previously announced. Mr. Smith will continue as chief executive officer of both companies.