Word: wolfsons
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...WOLFSON ALLY Alexander Rittmaster resigned from the Montgomery Ward board only one month after Louis Wolfson himself quit. Wolfson's sole remaining Monkey Ward director: Advertising Consultant Bernice Fitz-Gibbon...
...Carl McFarlin Sr., 60, was named president of the 201-year-old paintmaking firm of Devoe & Raynolds, one of Financier Louis Wolfson's holdings. A mining engineer, born and educated in Alabama, McFarlin managed coal mines in Tennessee, became president of Tennessee Products & Chemical Corp., which merged with Wolfson's Merritt-Chapman & Scott. His predecessor, E. W. Endter. who got the job after resigning the $50,000-a-year presidency of the California Oil Co. to help Wolfson battle for Montgomery Ward, quit Devoe & Raynolds to return to the oil business...
...Harry A. Wolfson '12, Nathan Littauer Professor of Divinity, will receive a citation Thursday evening at the National Conference of Christians and Jews...
...credit, said Wolfson, goes to Ward's President John A. Barr, who changed Ward's cautious, old-fashioned approach to selling, renovated hundreds of stores and laid plans to add 100 new catalogue-order offices, stepped up advertising, put new emphasis on installment selling. As a result, gross sales for 1955's final eleven months were up 10.1% to almost $1 billion, and are expected to grow even faster in 1956. Furthermore, the annual dividend was boosted from $3.50 to $4, plus a year-end extra...
...Wolfson will not sell the 59,000 shares of Ward stock he and his family own, believes that "under its present management, Montgomery Ward cannot fail to continue its progress." Since the proxy fight started, Ward progress has already brought Wolfson dividends of more than $600,000 and a paper profit of $857,000 at Ward's current market price...