In the spring of 1929 International Paper & Power Co. was subjected to a Federal Trade Commission inquiry and widespread criticism for its financial interest in 13 newspapers. Straightway I. P. & P. took steps to dispose of those holdings. Last week, through a series of misadventures, I. P. & P. found itself again temporarily in the newspaper business-sole owner of the Augusta (Ga.) Chronicle, Columbia (S. C.) Record, Spartanburg (S. C.) Herald and Spartanburg Journal. In a Federal court sale the paper company was awarded the properties for $983,130.90.
William Johanne...
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