Fastest growing business in sleepy, elm-shaded Flemington, N.J. (pop. 2,700) is that of holding annual stockholders' meetings. Last week business was brisk. In one day, stockholders of the New York Air Brake Co., American Crystal Sugar Co. and McHutchinson & Co. (garden bulbs) plumped down in chairs in the law office of sedate, greying George Knowles Large, droned through the meetings, caught the first train back to New York, virtuously felt the 50-mile trip well worth the thousands of dollars in taxes they had thus saved their companies.

Six years ago, Standard Oil Co. (N.J.), sick of tax-hungry cities...

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