Pictorial Sold

On the title page of Pictorial Review, on each sheet of its letterhead, is a rococo device: a scroll with the numeral "13" and a pencil, surrounded by a wreath. That trademark was adopted by a German named William Paul Ahnelt shortly after he founded Pictorial Review 32 years ago. It symbolized the $13 capital with which he started his dress pattern business upon coming to the U. S. Last week Founder Ahnelt. 67, sold his magazine, long rumored "for sale," but for how much more than $13, he did not reveal.

Buyers of the magazine were able Adman George S. Fowler, vice president of Pictorial Review since last April, and Lee Ellmaker, lately general manager of Macfadden Publications and publisher of Liberty since Macfadden bought it. Large and fat, Lee Ellmaker has the reputation of being a shrewd publisher. With the financial help of U. S. Senator-reject William Scott Vare, whom he had previously served as secretary, he established the tabloid Daily News in Philadelphia, built it up to be a moneymaker, sold control to Macfadden, whose only successful newspaper it now is. Because of his flair for economy, he became known, to his distaste, as Macfadden's "efficiency man."

Pictorial Review's circulation (2.540,000 last June) is about the same as the other closely-bunched leaders in the crowded field of women's magazines. Its proud boast is that Pictorial Review alone of the group can point to circulation over 2,000,000 for every issue since October 1922. Last year it suffered a 15% decrease in advertising lineage, reduced its rate and circulation guarantee.

The new publishers announced there would be no change in the editorial staff, headed by thin-faced Editor Percy Waxman. Founder Ahnelt continued as chair-man of the board, the usual indication of a sale involving future payments out of earnings.

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