For months, National Tea Co., sixth largest U.S. retail grocery chain, had squirmed under the critical gaze of one of its new stockholders. The critic: John F. Cuneo, cold-eyed, round-faced owner of The Cuneo Press, Inc., biggest U.S. printers as well as "angel" of Liberty and a string of other magazines.

Last fall, Stockholder Cuneo sent his own auditors poring through National's books to find out why it made only $332,000 in 1943 on sales of $92,000,000. Last month he fired off a letter to National stockholders giving his findings: bad management, antiquated...

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