Old Soldiers Sometimes Buy

At Remington Rand's annual stockholders' meeting last year, Professional Heckler Lewis D. Gilbert had a question for the chair: Why did Board Chairman Douglas MacArthur own no stock in the company? That, the Old Soldier brusquely replied, was none of Gilbert's business (TIME, Aug. 10). In Buffalo last week, as Remington Rand stockholders met again, there was a marked improvement in MacArthur-Gilbert relations. Ex-Corporal Gilbert was pleased to note that the five-star general had since bought 800 shares of company stock, a transaction that had been duly recorded by the Securities and Exchange Commission.

MacArthur accepted the congratulations of "a fellow veteran of mine in the Pacific." But he wanted to make one thing clear: "I don't wish to have . . . it regarded under false premises. I bought the stock because I thought it was the best buy on the market. I bought it in spite of your arguments last year." Said Gilbert: "I don't care why you bought it, just so you continue to hold it."

For MacArthur, Remington Rand was indeed a good buy; since he picked up the stock last December, the price has risen about $6 to more than $21 a share, giving him a paper profit of about $5,000 on his $12,000 investment. Remington Rand is apparently just as pleased with the general as he is with the company. It has given him a raise--from $45,000 to $68,600 a year.

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