CORPORATIONS: Wolfson at Work

In his fight for control of Chicago's Montgomery Ward & Co., Florida Financier Louis E. Wolfson and friends have been buying stock in the $1 billion-a-year store chain and mail-order firm at a fast pace (TIME, Sept. 6). Last week Wolfson arrived in Chicago to set up a proxy-soliciting office right under the nose of crotchety old Board Chairman Sewell Avery, and announced that he and his associates now own more than 500,000 shares (8% of the stock outstanding).

Wolfson does not intend to say any more about his holdings until the annual meeting next April. But he plans to...

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