Magazine content is available exclusively for TIME subscribers.Press: Josey for Sterling
Governor Ross Shaw Sterling of Texas, who reputedly has lost in deflated real estate large wads of the fortune he made from oil, last week lost his newspaper, the Houston Post-Dispatch, to an insurance man named J. E. Josey. The surrender of the newspaper, heavily burdened by notes, was not a surprise; but, to many, its acquisition by Mr. Josey was.
Last October Governor Sterling placed his affairs in the hands of a friendly trusteeship headed by his good friend Banker Jesse Holman Jones. The trustees, who loaned Governor Sterling $800,000, found one of his properties could be sold immediately—the Post-Dispatch,...
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