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...archetypal moneybags-but hardly typical delegate-at either convention is Delaware Republican Reynolds du Pont, 50, one of the clan's richest members. After M.I.T., he had a go at the family firm, but quietly dropped out. Du Pont likes politics and yachts. He was elected state senator in 1958. In both 1964 and 1966, he managed syndicates of similarly bankrolled yachtsmen who tried unsuccessfully to win the right to defend the America's Cup with the twelve-meter American Eagle. This summer, though he is leader of the Republican-controlled state senate and also chairman...
...Du Pont, the nation's biggest chemical manufacturer, increased its profits over the same period last year by 28% to $96 million. It seemed to be a sign that the company, after three years in the doldrums, is in for some better sailing in the near future...
Died. Edgar Monsanto Queeny, 70, president (1928-43) and board chairman (1943-60) of Monsanto Co., the nation's third biggest chemical maker after Du Pont and Union Carbide; of coronary thrombosis; in Ladue, Mo. Through judicious acquisitions and canny expansion into new products, Queeny raised Monsanto to the widely diversified giant that today chalks up annual sales of more than $1.6 billion...
...they had counted on. Jewels are more durable than porcelain, but they're easily heisted; Sonny and Marylou Whitney got robbed of $780,000 worth at Saratoga a year ago, and their insurance premiums must be ferocious. Coins can be better guarded, but someone recently stole Willis du Font's collection only the other day he got back a single coin worth $100,000. His cousin, Alexis I. du Pont, may be better off with his collection of antique airplanes, though they take up so much room that the poor fellow has had to build himself a complete airport...
...versatile new fabric, which sells for about $5 to $8 per pound (versus $9.30 for silk), will be found initially only in women's fine apparel, but eventually will be used in all types of clothing. For Du Pont, whose sales and profits, after a long lag, have shown an upturn this year, costly Qiana is not expected to mean an overnight boom. It will, however, take the company into a new area-and help offset sagging textile profits caused by overproduction...