CORPORATIONS: Bare Knuckles in Chicago

The fight between Louis Wolfson and Sewell Avery for control of Montgomery Ward reached the bare-knuckle stage last week. As Challenger Wolfson invaded Chicago, Avery's home ground, on his cross-country "coffee-cup" courtship of Ward stockholders, Avery let him have it.

In full-page newspaper ads and in Ward's annual report, Avery charged that the security" of Ward's stock "would be destroyed" if Wolfson were placed in control. Possibly to take his stockholders' minds off the fact that Ward's 1954 earnings showed a drop from $6.12 a share to $5.20 a share, Avery charged that Wolfson had 1)...

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