Business: A Waterman on a Rampage

Last February 41-year-old Elisha Waterman, grandnephew of the founder, resigned his job as executive vice president of L. E. Waterman Co., famed makers of pens. Not only did he resign, but last week he sued to dissolve the company. Not only did he sue, but in effect he called his relatives and co-officials boobs.

No ordinary family-business careerist is Elisha. In 1925 his father, then president of L. E. Waterman Co., tossed him out of his job with the company. On his own, Elisha took a $35-a-month flat in Manhattan's Greenwich Village, cooked hamburgers,...

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