Raider Louis Wolfson, who parlayed a Jacksonville junkyard into a $240 million empire and attempted to gain control of giant Montgomery Ward, sounded a general retreat last week. He is getting out of Montgomery Ward and selling all his 59,000 shares (at an expected profit of about $750,000). Furthermore, he is thinking of selling the Highway Trailer Co., the Marion Power Shovel Co. and its subsidiary, the Osgood Co., all controlled by Merritt-Chapman & Scott, which Wolfson runs as chairman, president and chief stockholder (more than 157,000 out of 5,374,360 shares).
So far this year four other members of the...
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