Closing Of U.S. Magazines
(Rec. 10 p.m.) WASHINGTON. Dec. 20.
The Securities and Exchange Commission today ordered an investigation into trading in Crowell-Collier publishing company securities that preceded the suspension of ‘‘Collier’s” magazine and the “Woman’s Home Companion.” The commission said that it would determine whether Federal law was violated in the sale of 4m dollars of debentures by the publishing firm. The company’s directors suspended publication of the magazines last week. The commission will hold a public hearing at a date to be announced later.
The United Press said that reports were circulated in publishing and financial circles that debenture holders were instrumental in forcing the decision to halt publication of the two magazines. Both had been losing money. “Collier’s” and -"Woman’s Home, Companion,” which have been on the American magazine scene for more than half a century, went on the newstands for the last time today containing serial stories that never will be finished. Neither mentioned that the two magazines had suspended publication.
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Press, Volume XCIV, Issue 28158, 22 December 1956, Page 11
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165Closing Of U.S. Magazines Press, Volume XCIV, Issue 28158, 22 December 1956, Page 11
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