Decatur Daily Democrat, Volume 52, Number 289, Decatur, Adams County, 9 December 1954 — Page 14

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Montgomery Ward Battle In Spring Financial Battle < Slated Next April , CHICAGO INS) — The hottest tUg-of-war America’s financial circles have witnessed since Robert Young won control of the New York Central Railroad will be settled next April 22. It is the no-holds barred fight Y of unlimited rounds between grayhaired Sewell Lee Avery, 2s-year board chairman of huge mail order house Montgomery Ward & Co., and 42-year-old Florida finance wizard Louis E. Wolfson. Last August, Wolfson announced he is out to retire the man twice his age — Avery is 81 — and is wooing Ward's stockholders to his side for the showdown April t 9 when their annual meeting is held in Chicago. Wolfson started his drive with the disclosure that he himself owns 10.000 shares of the 6.7 million voting shares in the company that does a three-quarter billion dollar business annually. Weeks later, he said he had 25.000 shares. His associates" acknowledge that this amount is growing day-by-day. Avery is known to own 64,336 shares — not enough, of course, to swing the pendulum onto his side in the first big challenge to his long, iron-fisted dominance of the country's second largest merchandising firm. Ward's is surpassed only by Sears Roebuck & Co. Through the years Avery has remained silent when his “baby," which he nursed, from a profit of $400,000 in 1981 to a profit of mul-ti-millions within a few~ years, popped into the headlines. Few people could reach him directly for his side; it was always someone inside his office speaking for him in just two words: “Nt) comment.” The same response came when Wolfson announced his fight. Then another figure pushed into the picture. He is Fred M. Saigh, 49-year-old former president of the St, Louis Cardinals' baseball club. He said he was interested in taking over control of Ward’s. Saigh also said he had contacted certain stockholders in his own behalf. Saigh was associated with the late Robert E. Hannegan, former Democratic National Committee chairman and former U. S. Post-master-General. in buying the Cardinals. He surrendered his interest in the club when the Internal Revenue Bureau accused him of Income tax evasion. Saigh pleaded nolo contendere (no contest) to the charge, was fined $15,000, and served six months of a 15-month prison term. Saigh was given time off for good behavior. Saigh maintains — his brush with the law was due to circumstances beyond his control — “I never was guilty of intentional fraud because I didn't need the money; I already had more money than I would ever need.” Saigh's move into the latest chapter in Ward's history was the firecracker that awakened Sewell Lee Avery. His associates told him it was time to break his silence. Tells Side Avery — in his spacious office where he studies business from personal charts and dictates memorandums for subordinates to distribute to 587 states — finally gave in. Recently he held his first news conference in a decade. The last time he said anything directly to the press was in the spring of 1941 when he lost a short-jived fight with the federal government. Now, ten years later he is facing his second big fight And he has decided at long last to tell his side. He is not worried over Saigh and the possibility of a three-cor-nered fight for control. He ob- '■' ' I ■ - ft?* ’ —,4 —— - - - JAMES IHCCO prays for his wife at his home in New York while she is held in $60,000 bail along with two other women on a charge of plotting to murder him. He and wife Patricia, 30, have three children. Ricco reaffirmed his belief in her innocence by spending his day off attempting to raise bail money and praising her to all who would listen. , ( International J

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Look Out, Here Comes a Kiss! A GREY-HAIRED woman (above) rushes toward grinning Senator Joseph McCarthy (R), Wisconsin, as he walks through spectators’ corridor in the Capitol, Washington, during a Senate session debating the censure resolution against him. She caught the senator and kissed him Further enlivening the censure proceedings was performance of 15-month-old Deidre Walsh (below), shown outside Senate gallery with her mother, Mrs. Edward Walsh, and sister Monica, 2’4, of Sea Girt, NJ. The debate was getting pretty tense when suddenly Deidre burst out crying. The tension was broken. (International/ viously is concerned over Wolf-1 son’s determination to pull the stopper out of Avery s equal de- i termination not to expand Ward's | outlets and build up a reserve fund to be used until he is sure building costs justify the program. Avery says he will give the "goahead" in the immediate future (he sets no definite time) for the expansion. It all depends on what his crystal ball tells him about the business outlook. Ward 'h has hired a public relations firm to help in the main event Avery vs Wolfson. For the new few months, the more than Sit miltton shareholders will be on the receiving end of literature, pin-pointing the prosperity of their investment, the nice gain of more than 50 percent in company sales since World War 11, plans for the future — under Sewell Lee Avery.

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New Weapons Fight Flies, Mosquitoes Government Pushes Research Progress WASHINGTON (IN’S) —A whole battery of uew weapons to fight flies and mosquitoes is in the making today in government research laboratories. ; Authorities in the federal agricultural Research Service predict 'that new effeettiye ins ee tie) lai baits 'to control flies will soon be in wide-spread use both on the farm and in urban areas. They also report the discovery of eleven different new mosquitorepellent chemicals, all better than anything now in use against sev-

THE DECATUR DAILY DEMOCRAT, DECA't’UR, INDIANA

eral species, including those which spread malaria and yellow fever. ■Unlike the new anti-uy chemicals, however, nene of the mosquito repellents is expected to be available to tho public in the verynear future. Research experts say they appear to be harmless "Alien rubbed on the skin, but further 'testing is necessary before they .can be sure. Development of a new tool to combat flies was spurred on by the fact that, in many areas, these insect pests have developed relative immunity-or at least a high resistance —- to DDT and other chemicalsT’ Recent experiments have turned on the development of insect baits. The chemicals uted are all organic phosphate compounds, great--4y diluted in mixtures of molasses, malt, or sugar and water, and

.guaranteed to at* •’t any unwary fly. Tried out. at an urban rendering plant, one of the te.+t baits reduced the fly population 99 percent in top- hours. After a year of intensive testing to see just what the uew baits can accomplish. agricultural research service workers are convinced that they can produce nearly perfect fly control both on the farm and in the home. Jh one experiment, the baits

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were twed at a city dump. They killed between 97 and 99 percent of the flies of several species. in still another test in a city slum, where the baits were used oh garbage and trash piles, control beeanri progressively better each day ana at the end of five days an estimated 90 percent of the flies wts killed off.' The scientists found that results depended upon where the baits were used avd the species of flies. Trade in a Good Town — Decatur

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THURSDAY, DECEMBER/ 9, 1954