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For several years J. P. Morgan has been quietly liquidating his directorships, cutting the corporate list to four: U. S. Steel, Pullman. Discount Corp., and Aetna Insurance Co. of Hartford (a fire company). Last week Mr. Morgan resigned from Aetna, which has had a Morgan on its board ever since his great grandfather helped to found it in 1819. The trips to Hartford were a little too much for aging J. P. Morgan, 71 last September.

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