Music: How to Lead a Name Band

As an investment, a band is like a Broadway show. If it pays, it pays off handsomely. Exactly one year ago a prosperous Manhattan song publisher invested in a 4-F music-arranger.

Last week slim, dark-haired George Paxton, 30, joined the glossy fraternity of "name-band" ' leaders. Simultaneously, Paxton's financial backer began to look forward to dividends on a $35,000 investment. All in a breathless few days the young man who was unknown as a bandleader a year ago: 1) got the Glenn Miller trophy for the best new band of the year; 2) signed...

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