Religion: Rex in the Red

Like many other corporate commanders, Rex Humbard dresses in expensive suits, commutes to his office in a Cadillac and jets to out-of-town appointments in the company plane. His Ohio-based conglomerate issues securities, reports annual revenues of $8,000,000 and has assets worth some $30 million. Yet Humbard, 53, is no ordinary businessman. He is a guitar-picking, down-home evangelist (TIME, May 17, 1971) with a following of 25 million weekly television viewers on 400 stations in the U.S. and foreign countries.

Conglomerating for Christ has obviously paid off handsomely for Humbard. His headquarters is the $3,400,000 rigged-for-TV Cathedral of Tomorrow in suburban Akron. He...