Horatio Alger, Inc.

Five businessmen last week were designated the most notable Horatio Alger heroes in the U.S. This distinction—with a scroll—was conferred upon them by the American Schools and Colleges Association, which polled 800 U.S. educational institutions to determine which businessmen "best symbolize the traditional Horatio Alger career." Actually, only two of the winners had come up from rags to riches. They were General Electric's Charles E. Wilson, onetime $4-a-week shipping clerk, and I. J. Fox, who ran one fur coat into the largest U.S. fur chain. The rags of the other Alger boys had been well tailored. Coty's Grover Whalen...