Word: ponts
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...week the center of action was Manhattan's Parke-Bernet Galleries, where one blue chip found a dynamic investor willing to bid it up to a new record price. The buyer was California Collector-Industrialist Norton Simon, who paid $1,550,000 for Auguste Renoir's Le Pont des Arts, upsetting the previous auction record for impressionist paintings, set by the Metropolitan Museum when it paid $1,410,000 for Monet's The Terrace at Ste. Adresse a year...
...work Simon acquired was not an example of Renoir's mature style. Le Pont des Arts was painted around 1868, when the artist was only 27. Curiously, it was the sense of unfulfilled talent that most attracted Simon to this crisp, crystalline Paris cityscape...
What keeps the art market boiling is the knowledge that Renoir's Le Pont des Arts cost only $19,500 when its previous owner, Manhattan Collector Mrs. W. Clifford Klenk, bought it in 1941. The inevitable result has been to pull into the bull market a host of amateur speculators. To satisfy them, dealers are hustling out the "cats and dogs," in Wall Street parlance: stocks with a glamorous look but shaky prospects...
...archetypal moneybags-but hardly typical delegate-at either convention is Delaware Republican Reynolds du Pont, 50, one of the clan's richest members. After M.I.T., he had a go at the family firm, but quietly dropped out. Du Pont likes politics and yachts. He was elected state senator in 1958. In both 1964 and 1966, he managed syndicates of similarly bankrolled yachtsmen who tried unsuccessfully to win the right to defend the America's Cup with the twelve-meter American Eagle. This summer, though he is leader of the Republican-controlled state senate and also chairman...
...determined to show that they can compete on an equal basis with big people in today's world and do not have to fall back upon the circus for a livelihood. Robert Spector, last week's convention chairman, is a Ph.D. working on chemistry patents for Du Pont. Lee Kitchens, an electronics engineer for Texas Instruments and the outgoing Little People's president, literally soared into town, flying his own plane from Richardson, Texas. Since he stands only 4 ft. 1 in., the rudder pedals on his Piper Tri-Pacer have been built up about nine inches...