Books: $2.50 Insult

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E. P. Button & Co. has been publishing good books for 77 years. Grand Old Man of Button's is a white-whiskered Virginian named John Macrae, 68, president since 1923. A longtime Button custom has been to give employes a Christmas ''bonus'' of a new $10 bill. Last year Depression cut the bonus to $2.50, to the mental anguish of the three proud litterateurs who accept or reject Button books. Last week the three got together beforehand and resolved not to accept another $2.50 tip. When the cashier appeared with the envelope, each said with decision, "Thank the firm, but I can't accept it."

When this was reported to President Macrae, his face froze behind his whiskers. He called to his office the proud three, Merton S. Yewdale, editor-in-chief for ten years, and his two associate editors, Louise T. Nicholl and Samuel Middlebrook, told them that their refusal of the Christmas bonus was evidence of dissatisfaction and disloyalty, told them to accept or resign. With one voice the three resigned.

Said Editor Yewdale: "We declined the gift because it was an insult; every clerk in the place got $2.50. In other words, it was too damn cheap, too damn low. It was an insult, not a gift."