Corporations: Hunt for the Best

Los Angeles Entrepreneur Norton Simon, a self-made millionaire, has few rivals among U.S. businessmen in the variety of his financial interests. They spread from his $400 million-a-year Hunt Foods & Industries through steel, salad oil, matches, paint and publishing. Yet Simon seldom stops in his search for new horizons, and last week he moved deftly in two widely different directions.

Wall Street learned that Simon has picked up 20% of the stock in Manhattan-based Canada Dry Corp., the biggest U.S. maker of ginger ale and soda water and the third largest maker of soft drinks (after Coca-Cola and Pepsi-Cola). At...

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