HARVARD REMOVED FROM SLOT MACHINE BUSINESS

The University has been removed from the slot-machine and vending business in which it was placed under the terms of Artemus Ward's will, filed last March, in which the late Artemus Ward bequeathed to Harvard the business of Artemus Ward Inc. The advertising company, which controls the merchandising and newsstand privileges of the Inter borough Transit Company, has recently been purchased by Barron G. Collier, Inc.

The business of Artemus Ward, Inc., was valued at between two and three million dollars at the time of the bequest. The amount which will fall to the University through the sale of the company has not been made known as yet.

Artemus Ward, Ino, has controlled since 1899 the advertising and vending concessions of the Inter borough lines. Mr. Coller's purchase includes the Listerated Gum Corporation, the Ideals Chocolate Corporation and other subsidiaries.

The sale of the Artemus Ward Company follows close upon the announcement that the advertising company of which Barron Collier is president outbid the Artemus Ward Company for the Inter borough Lines advertising and vending nights. The terms of the contract provided a minimum payment for these rights of $30,090,000. The sum is to be divided over a period of 18 years.

The University was represented in the transaction by the Irving Bank-Columbia Trust Company, executor and trustee of Mr. Ward's estate.