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William Aver ell Harriman resigned as chairman of Aviation Corp. to devote more time to his chairmanship of Union Pacific Railroad. He was succeeded by Robert Lehman, 41, his classmate at Yale (1913), partner in Lehman Bros., second cousin of Herbert Lehman, Democratic candidate for Governor of New York...
Died. Roland F. Knoedler, 76, retired art dealer; of lung congestion; in Paris. Born in New York, he made Knoedler & Co., his father's firm, one of the three most important (with Duveen Bros, and Durand-Ruel) in the U. S. He helped build the art collections of Andrew William Mellon, the late Peter A. B. Widener, William Kissam Vanderbilt, the late George Fisher Baker, Potter Palmer...
...Through a typographical error TIME gave the impression last week that International Paper Co. cut newsprint prices to get business. Not International but Canada's Price Bros, cut the price. International met the competition. It was also stated in TIME that Finnish newsprint has been available in San Francisco as low as $33 per ton. This figure, widely printed, has been denied...
...Successful Calamity (Warner Bros.), cinematized for George Arliss, is neatly based on Clare Kummer's demoded "situation'' play of misunderstandings, tricks, plots and counterplots. George Arliss is a famed Wall Street broker, important enough to be congratulated by the President of the U. S. (shown anonymously from behind). Lonely for his wife (Mary Astor), son and daughter, he learns from his butler (Grant Mitchell) that ''the poor don't get to go much." He interrupts his family's frivolings with polo and pianists by pretending that he is ruined. They stay home with him and have a lovely time...
Battered Pulp (Cont'd). Newsprint, which dropped from $53 to $47.50 a ton fortnight ago when Price Bros, suddenly slashed its prices (TIME, Sept. 26), was hammered still lower last week. The price cut was no proud gesture but a desperate attempt to get business and cash. Last week the firm announced that its difficulties were so great that it will pass into the hands of its bondholders unless aid is forthcoming. Common and preferred stockholders may be called upon to assist. A committee was formed to protect preferred stockholders. One of its members is a representative of Lord Beaverbrook...