Business: Perturbation & Comfort

President William S. Paley of Columbia Broadcasting System last week put his annual stockholders' report on the air— in direct competition with Kay Kyser's dance orchestra on NBC—and it delighted Columbia executives that Mr. Paley had a bad case of microphone fright. Hovering around him in his office at Columbia's Madison Avenue studios in Manhattan were two production men, two vice presidents, one engineer, two page boys. There were duplicate microphones in case one broke down, a precaution not usually taken with either Jack Benny or President Roosevelt.

Mr. Paley read, quickly and...

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