Ever since Frank A. Vanderlip, former President of the National City Bank, Manhattan, made his startling speech anent official corruption in Washington, he has been resigning his many directorships one by one. His first retirement from the board of a prominent corporation followed a letter sent to him by J. Horace Harding, requesting his resignation from the Continental Can Co. Mr. Vanderlip went to the board meeting of the Company declaring that he would not resign, yet he did so when he discovered that his fellow-directors unanimously seconded Mr. Harding's request.
The precedent...
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