Business: Tide Water Tangle

Posed in simple form in Manhattan last week was a basic problem of modern capitalism—the divorce of ownership from control. While the management of the $187,500,000 Tide Water Associated Oil Co. counted proxies for a corporate simplification plan in the company's office downtown at No. 17 Battery Place, Tide Water's biggest stockholder, a man with a $20,000,000 stake in the proceedings, sat uptown in his swank Sutton Place penthouse unable to do anything about it.

He was J. (for Jean) Paul Getty, 43, Oxford-educated spokesman for the Los Angeles Getty oil interests, who let...

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