When he opened the world's biggest drugstore in Hollywood two years ago, Rexall Drug, Inc.'s President Justin Whitlock Dart threw a $90,000 party complete with film stars, searchlights and 10,000 free orchids. To Justin Dart, onetime tackle at Northwestern University, the celebration was the booming kickoff to the Rexall team's postwar expansion program. But by last week many a stockholder had begun to wonder why Rexall had not followed up with a few smashing plays.

Under aging Wonder Boy Dart, now 42, Rexall's earnings slipped from $4,048,403 in 1946 to $1,415,869 last...

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