Business: Formula

From his ten-room apartment atop Philadelphia's Temple University Hospital last winter Henry Latham Doherty dispatched an offer to settle a stockholders' suit. To his Cities Service Co. he would donate $1,250,000, pay the opposing attorneys' fee, but under no conditions admit "any remissness" (TIME, Feb. 15). Mr. Doherty thereby concocted a formula which other rich men, suspected of remissness by their past or present stockholders, could readily adapt to their own needs. Last week Albert Henry Wiggin, boomtime head of Chase National Bank, offered $2,000,000 to settle stockholders' actions brought after Bankster...

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