Last week the following were news: Owen D. Young, chairman of General Electric (recently ordered by court decree to rid itself of its Radio Corp. stock), was denied by Attorney General Cummings the right to continue on the Radio Corp. board—unless he resigned from General Electric. Beneficent utilitarian though Owen D. Young may be, not even he is permitted to be an interlocking director.
Charles Edwin Mitchell, former chairman of National City Bank, Manhattan, now under indictment for tax evasion, and Clarence Dillon of Dillon, Read & Co. (a director of Chase National Bank)...
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