Word: ayers
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Dates: during 1930-1939
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...Father Ayer's Part...
...Varsity squad includes Captain Allen T. Winmill '37 and Francis S. von Stade '38 from last year's outdoor championship team, which eked out victories over two favored rivals, Yale and West Point. In addition there will be Paul F. Fox '37, Frederick Ayer, Jr. '37 and Adrian H. Malone '37 who campaigned as Jayvees...
According to President Batten & friends this right belongs to N. W. Ayer, the corporation, as owner of 117,000 trusteed shares. Last month they held a meeting for the 201 Ayer stockholders, put through a plan whereby the company allocated big blocks of the Fry stock to President Batten and Director Jordan on a deferred payment plan, undertook to buy the rest of the Fry stock for the company's treasury. The idea behind this plan was to equalize the holdings of four directors, including Adman Thornley. All the trusteed stock was voted in a block in favor...
Meantime Adman Thornley was fired as Ayer vice president in charge of sales, though he is still a director. He set a lawyer to work to right his alleged wrongs. In ordinary corporate practice the argument that a company may not vote its own stock is watertight. In the Ayer case there is certainly room for legal debate because the question involves the exercise of an option under an agreement in which the corporation is now interested as a stockholder, not a stock issuer. To settle the question Adman Thornley announced last week that he had filed suit...
Snapped President Batten in a public counterattack: "In today's newspapers appears a statement purporting to emanate from George H. Thornley, formerly a vice president of N. W. Ayer & Son, Inc., to the effect that he has exercised an option to acquire stock control of this corporation. . . . Since he is seeking to establish this contention over the opposition of all parties concerned by litigation, the officers of the corporation are opposed to any attempt to try the case in the newspapers...