Montgomery Ward Chairman Sewell L. Avery, 81, bounced into the ring last week and swung his first punch in the fight to keep control of his company. From his Chicago office, Avery summoned reporters to the first press conference in years, and lost no time setting to work on his opponent, Financier Louis E. Wolfson, who has had the ring all to himself, shadow-boxing with lawsuits and charges of poor management (TIME, Sept. 6, 1954).
Flanked by busts of Washington and Lincoln, Avery announced that he had hired an outside public-relations firm to present his case to stockholders and...
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