Proxies for American Tobacco's annual stockholders' meeting next month carried the news that Lewis D. ("Gadfly") Gilbert was out for trouble again. Specializing in heckling the management of the 60-odd companies a tiny bit of whose stock he holds, Capitalist Gilbert was all set with a resolution drastically cutting the bonuses paid to President George Washington Hill and his high-powered vice presidents.
To Tobaccoman Hill those were fighting words. Out last week was his 1939 annual report showing profits of $26,427,934best since 1933, though 43% under phenomenal 1931. Of that sum, $300,300 went to Mr. Hill (salary: $120,000), $180,180 to...
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