Word: reichhold
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...happiest observer of this cultural-financial comeback was one of the country's whitest-robed musical angels: chubby, mild-mannered Henry H. Reichhold (TIME, Dec. 18), underwriter of the Detroit Symphony's resurgence. A rich, German born manufacturer (Reichhold Chemicals Inc.) who has fiddled as a hobby, Angel Reichhold, 43, could now sit with more than usual pride in his usual box, congratulating himself that his solvent godchild was also a Manhattan-approved artistic success...
Ever since last year, when he contributed $160,000 to the then-ailing, now-flourishing Detroit Symphony, Henry H. Reichhold has had the musical world abuzz with rumors. Said rumor: he was about to start 1) a musical magazine of national circulation; 2) a new recording company to rival Columbia, Victor and Decca; 3) a national concert-booking agency; 4) a national record-of-the-month club...
Last week Henry Reichhold really did start something. The Austrian-born chemist (who quit Henry Ford in 1927 in an argument over a raise in salary to $7 a day, now runs his own show as chairman of Detroit's Reichhold Chemicals, Inc.) offered prizes of $25,000, $5,000 and $2,500 for the three best symphonies (half-hour or less) turned out during the next year by U.S. and Latin American composers...