Fortune

(via)

JULY 1934 “I have an old sketch of a cover for the Fortune Italian issue of July 1934. The design was rejected in favor of my other submission, which was used.” This design is a typical Petruccelli, with cross hatch and stipple. In Mount Tabor Tony told me that the satirical depiction of Mussolini in this design was rejected by the editorial staff because they knew that it would not have gone down at all well with Henry Luce, owner of Time/Life who at the time was a supporter of the Italian Fascist leader.