Word: mellons
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Dates: during 1970-1979
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...Artist's Father in 1866, when he was 27. For years it hung in the privacy of a mansion on the outskirts of Paris owned by the family of the French industrialist Auguste Pellerin, who was an assiduous collector of Cezannes. Some ten years ago Paul Mellon, son and heir of Andrew Mellon, saw it there and with the tenacity of true love, set out to buy it. An intricate mating dance of negotiations began in 1965 and culminated at a Washington press conference last week, when Mellon announced the gift of the Cezanne to the National Gallery...
...price Mellon paid was not officially disclosed, but it was no secret that it was the highest ever for a French painting. Reliable sources put it at $1,600,000 -$50,000 more than Norton Simon paid for Renoir's Le Pont des Arts in 1968. It reflected-and will encourage -the hugely inflated prices collectors seem willing to pay for Impressionist and post-Impressionist painting...
...Mellon himself explained his purchase with disarming candor: "I thought it was a very great picture-one that belongs in the gallery because of its size and scale and because I like it personally." But J. Carter Brown, the National Gallery's director, went into raptures. "It's a powerhouse. For sheer scale, intensity and impact, I would put this painting up against anything in our collections...
...auto safety and pollution. The world's largest manufacturer designated five members of its board of directors as a "public policy committee" to "inquire . . . into all phases of [General Motors'] operations" that relate to national problems. The group is headed by John A. Mayer, chairman of Mellon National Bank & Trust Co. G.M. Chairman James Roche said that the existence of the committee would give "matters of broad national concern a permanent place on the highest level of management...
...meet regularly, usually at Dreyfus' Manhattan headquarters, to discuss inflation and the economy, the problems of the brokerage business and the future structure of the exchanges. Among the men who attend the four-hour sessions are Thomas Reeves of Investors Diversified Services, Wellington Fund's John Bogle, Mellon Bank's Lloyd Pederson, InterCapital's Fred Stein (no kin), and Kidder, Peabody's Ralph De-Nunzio, who is vice chairman of the New York Stock Exchange...