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In 1926 Mr. Axton bought the formula for Menthol-Cooled Spuds from its inventor, Lloyd F. ("Spud'') Hughes. Hughes and his associates got $90,000, but Spuds brought much more to ''Wood'' Axton. He launched an advertising campaign, which has grown with Spud sales. Last year Axton-Fisher spent $550,000 advertising Spuds, made a net profit of $605,000. This year the profit has jumped month by month was $56,000 in July, $123,000 in August, $238,000 in September. Last week Axton-Fisher stock rose 8¼ points to 56¼ while other tobacco stocks were falling.
On the strength of his admiration for Theodore Roosevelt "Wood" Axton ran for Mayor of Louisville in 1913 as a Bull Moose. Friends still maintain he won the election. He has put his money in farm lands where he raises thoroughbred cattle and horses. It was his love of horses that made him buy the name Twenty Grand several years ago.