To Manhattan journalists, jittery over the folding of Collier's and Woman's Home Companion (see below), the news at first seemed a possible cause for concern. McCall Corp., publishers of McCall's and Redbook, announced a 50% cut in its quarterly dividends from 30¢ to 15¢. Though McCall's revenue was up $6,000,000 in the first nine months (to $46,116,539), earnings were down 16% to $758,276. McCall said it was saving cash "to finance future growth." What the company did not say was that the dividend cut was the work of a strong new hand that is guiding McCall.
The hand is that of West...
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