GREAT BRITAIN: Boots

"What a nasty muddle!" exclaimed British businessmen last week. And the more they thought about it the more they fumed.

Maker of the muddle for clear-headed reasons was tall, scrawny-necked, gimlet-eyed Rt. Hon. Arthur Neville Chamberlain, Chancellor of the Exchequer. Muddled were Philip Ernest Hill, a most successful young British financier, and Boston's Louis Kroh Liggett.

Mr. Liggett is chairman of Drug, Inc., one of the biggest U. S. industrial concerns (1931 earnings: $19,000,000; assets: $175,000,000). Although Drug owns the Liggett drugstores, its chief source of income is from making and selling...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!