They left after only three months, and started The Comics Magazine which included many features from National drawn by the original artists. Exactly what happened is not clear. A common story has been that they took the finished artwork in lieu of payment, but that does not explain why some artists moved over with them and continued to produce their features for several months. Many of these were also continued at National by different artists and re-named characters. Other features, make a single appearance and then return to National. And some artists continued to produce work for both companies.
Writer Lee Boyette asserted the features were purchased by Cook and Mahon from the creators.
“Jerry Siegel and Joe Shuster, friends from Wheeler-Nicholson’s company,” Boyette wrote, “provided a single two-page installment of 'Dr. Mystic'…. Other contributors included Ellis Edwards, Matt Curzon, William Alliston, John Patterson, future All-American Publications and DC editor Sheldon Mayer, and future Pogo creator Walt Kelly. … (The course of comic book history would have been changed… had Cook and Mahon purchased 'Superman' from Siegel and Shuster… rather than a single installment of 'Dr. Mystic.'"
However, Douglas Wheeler-Nicholson, son of the Major, said he believes the work was stolen.
“I think they were just pinched,” Douglas said. “I think those issues, they just sort-of said, ‘Here some stuff we can use,' and they changed the name and used it.
Clarifying he believes Siegel, Shuster and the Major were unaware, Douglas added, “I think the guys putting out that little comic book just stole it.”
The Comics Magazine Company published their last issues cover-dated June 1937. The two oldest titles were acquired by Ultem Publications and resumed with volume 2 three months later. Ultem's titles were in turn acquired by Centaur half a year later.
Essay built on research by Bob Hughes, Steven Rowe, Frank Motler, Henry Andrews and many others.
Additional sources:
Boyette, Lee. “Centaur Spread: The Amazing, Keen, and Funny Story of the Centaur Comics Group.” Alter Ego, vol. 3. no. 85, May 2009, p. 25)
Amash, Jim. “’His Goal Was the Graphic Novel’: Douglas Wheeler-Nicholson, Son of the Major, Reveals Startling Facts About the Early Days of the DC -- and Superman!.” Alter Ego, vol. 3, no. 88, August 2009, pp. 27)
For further information, see the entry for Centaur:
http://www.comics.org/publisher/58/
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