Business: Underwriter's Complaint

Three weeks ago Bror G. Dahlberg, president of Celotex Corp., cooked up a plan with his clever friend, famed Investment Truster Wallace Groves, chairman of Phoenix Securities Corp., whereby Celotex would take over from Phoenix the working control of Certainteed Products Corp. Celotex, a $10,000,000 concern which manufactures insulating materials chiefly from a base of sugar cane fibre, could broaden its line of building materials with Certairi-teed's products, which include asphalt roofing and gypsum plaster.

Last week this apparently routine and timely deal nevertheless drew a loud complaint from Distributors Group Inc., underwriters...