TIME
Last week the following were news:
Sewell Lee Avery, 57, US, Steel director, president of U, S, Gypsum Co., was made chairman of Montgomery Ward Co, succeeding Silas Hardy Strawn who became chairman of the executive committee (see p. 60).
Harry Ford Sinclair, 55, denied he was or ever had been an officer of Rio Grande Oil Co, Authorities such as Standard Statistics were surprised. They had listed Mr. Sinclair as Rio Grande’s board chairman ever since newspaper announcements of last April, which were never denied. Oilman Sinclair’s denial last week swiftly followed a receivership action brought by creditors of Rio Grande’s chief subsidiary, Rio Grande Oil Co. of Texas.
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