Rumors About Hammer’s Demise Again Prove Greatly Exaggerated

Armand Hammer, 92, said Tuesday that he has escaped his latest brush with death, an encounter that took the form of another in the series of death-watch rumors that swirl around the financier and philanthropist.

“I’m doing fine. I’ve just got a bad cold,” reported Hammer, the chairman and chief executive of Occidental Petroleum Corp., the nation’s 16th largest industrial corporation.

Hammer spoke by phone from his home near UCLA, where he says he has been holed up for several days with bronchial problems. Hammer said he expects to be back in the office soon.

The latest rumor had Hammer gravely ill and his survival a “day-to-day” proposition. An inquiry of Occidental prompted a quick reply from Hammer, who said in his familiar gravelly voice, “I understand you heard I died.”

Though Hammer still maintains a remarkable pace, he is said to tire quickly. Observers say he can seem robust one day but frail the next.

Oxy’s stock seems unaffected by the rumor. In trading on the New York Stock Exchange, the stock closed at 20.75 Wednesday, up 75 cents.

Hammer guessed that the newest rumor began when he departed early from a party on Oct. 11. Aides said gossip might also have started when he canceled a trip to New York for a dinner in his honor tonight. “His doctors don’t want him to travel,” an official explained.