1963 AUGUST FORTUNE MAGAZINE BUSINESS ROUNDUP BUSINESSMEN IN THE NEWS SOUNDERS OF THE PENNSYLVANIA RAIL ROAD AND OTHERS BUSINESS AROUND THE GLOBE THE INDONESIAN OIL AGREEMENT EDITORIAL TWO CONCEPTS OF LAW LETTERS TO FORTUNE ARTICLES IN THIS ISSUE THE ONRUSHING AUTO MAKERS A HALF-BILLION DOLLAR LACE TO TIE THE ITALIAN BOOT THE UNFINISHED JOB AT W.R. GRACE THE ROOT OF THE FTC 'S CONFUSION THE STRANGE CASE OF SUN OIL ITS NO LONGER JUST GRIND , GRIND AT NORTON MINUTEMAN'S HOME ON THE MONTANA RANGE TAPPING NATURES STOREHOUSE OF VIOLENT ENERGY AN INDUSTRIAL DESIGNER WITH A CONSPICUOUS CONSCIENCE PRODUCTS AND PROCESSES LABOR WINNERS AND LOSERS IN SUGAR FULL PAGE ADS INCLUDE 1964 BUICK RIVERIA 1964 DATSUN SPORTS 1500 BOEING CARGO JET OWENS ILLINOIS NORFOLK AND WESTERN RAILWAY TEXAS INSTRUMENTS ( HYDROGEN FUEL CELLS ) FRUEHAUF TRAILERS GRUMMAN AIRCRAFT OKLAHOMA GAS AND ELECTRIC HARRIS BANK UNION PACIFIC RAILROAD ALLIS CHALMERS IBM RCA ( inside back cover ) THIS ISSUE DOES RATE GOOD CONDITION RATING THIS ISSUE IS KIND OF MIXED THERE IS A SPINE SHIFT I have seen NO separating of pages FROM BINDING THE PAGES ARE IN GOOD CONDITION THERE ARE A COUPLE TABBED PAGES - SINCE STRAIGHTENED THERE ARE NO WRITINGS IN THIS ISSUE We try to give One of the Most Honest ratings As We are collectors as well as sellers and have bought those good to mint issues that are falling apart when they arrive PACKAGED IN A CRYSTAL CLEAR ACID FREE ARCHIVAL QUALITY RESEALABLE CELLOPHANE ENVELOPE 1.6 MIL Background Information - Fortune Magazine in the 1930s The first issue of Fortune magazine hit the stands in February of 1930, four months after the dramatic crash of 1929. That kind of timing may seem the result of an ironic, if not an unfortunate, business decision, but the release date of America's first real business journal was actually quite a savvy maneuver. It reflected the good intuition the magazine's founder, Henry R. Luce, would continue to demonstrate in the coming decade. At a time when other dealmakers were cowering, Luce built Fortune magazine into one cornerstone of a media empire The crash only piqued Wall Street's desire for a smart and stylish journal of entrpreneurial culture. Briton Hadden, Luce's partner and the man who had founded Time with him in 1923, thought that a magazine devoted to business would be boring and unmarketable. But Henry persisted, and Fortune's 184 bright, lavish pages debuted with 30,000 subscribers. Luce believed that most businessmen were stodgy, uncultured, and lacking a social conscience. The spate of trade periodicals available at the time attested to this. They were no more than facts and statistics printed in black and white, and the Wall Street Journal was hardly the comprehensive paper it is today. So Luce didn't hire MBAs or experienced economists to write his copy; he recruited young literary talent instead. Archibald MacLeish, John Kenneth Galbraith, and Alfred Kazin filled the pages of Fortune with flowing human interest articles that were brash, irreverent, and critical. Fortune's advertisements were colorful and lush, and the photography of Margaret Bourke-White provided stunning looks inside the factories and farms that fed the American economic machine. Fortune style was an upscale and intelligent upgrade of the older and more middle-class Time. The result was a product that matched Luce's vision of business itself, an activity he called "the distinctive expression of the American genius" Henry wanted to bring entrepreneurs out of their back offices, give them an identity, and make them accountable to the public. In those first months after the crash, most people expected economic recovery. But when no recovery came and the decade wore on, Luce turned the attention of Fortune to a tempered brand of muckraking. It exposed the munitions industry without losing advertisers. It published pieces which alternately criticized both Hoover and Roosevelt. And though the tone of its columns had a socialist twinge, Fortune presented a disturbing picture of communist Russia in March of 1932 while praising Italian fascism in July of 1934. Fortune seemed to have a magical ability to be seen as both a challenge to business and a boon, to keep its integrity while throwing its hat into the political ring. This balance yielded consistent and respectable profits, and in 1937 the magazine netted close to half a million dollars with a circulation of 460,000. By decade's end Fortune had become required reading on Wall Street. ENJOY YOUR PURCHASE THANKS AGAIN BLUE KITTENS WE APPRECIATE YOUR STOPPING BY ANY QUESTIONS , COMMENTS OR COMPLAINTS FEEL FREE TO SEND ME A MESSAGE all returns are subject to a 20% return / restock / handling charge , any return will also forfeit any multiple item discount for other item purchased at the same time when applicable