Federated Federates

In early-to-bed Milwaukee, customers can shop at the wide-awake Boston Store at any hour of the day or night, including Sunday, merely by calling Marquette 8-5020. Telephone clerks take the order and send it out next morning. By such round-the-clock selling, the Boston Store has become Wisconsin's biggest retail establishment under one roof, with a current annual sales volume of $40 million.

This week, the Boston Store got a new owner: Federated Department Stores, Inc., headed by wide-awake Fred Lazarus Jr. (TIME, Feb. 1, 1937, et seq.). In the deal, Lazarus exchanged 292,600 shares of Federated common stock (market value: about...

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