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Although the antimanagement group has been popularly referred to as the Morrow faction, and although able Mr. Morrow's acquisition (TIME, Aug. 26, 1929) of United Cigar Stores gave wide publicity to the Morrow Interests, Edgar Palmer might well have been considered prime mover in the attempt to shift Ward control. Mr. Palmer is the largest individual stockholder not only in Ward but also in Continental and in General Baking. He is said to have some $15,000,000 invested in the bakery business. In 1924, when Ward Class A (voting) stock was selling between $50 and $130 Mr. Palmer purchased a large Ward interest, has since witnessed a steady decline in the value of his securities. Mr. Palmer's New Jersey Zinc Co., makers of zinc, zinc products, sulphuric acid, lithopone, etc., etc., is the successor of a company established in 1848. It has paid uninterrupted dividends for the last 30 years. In 1929 it earned $9.221.794. In addition to his zinc and baking interests, short, stocky, strong-chinned Mr. Palmer, an outstanding member of Princeton's outstanding Class of 1903, built Princeton's Palmer Memorial Stadium in memory,of his father. Steven S. Palmer. He is head of Princeton Municipal Improvement, Inc., which is razing and erecting buildings wholesale back of Princeton's Nassau Street. Associated with Mr. Palmer are seasoned Charles Hayden, head of Hayden, Stone & Co., and Thomas H. Mclnnerney, sage president of National
Dairy Products Co., which sold $392,000,000 worth of dairy products in 1929 and has reported 1930 sales far in advance of the 1929 totals.