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KNIGHTED AMERICAN RESIGNS NEW YORK, N. Y., May 15.-Sir Louis Sterling, a product of New Yorks East Side who was knighted by King George VI. of England and rose to become a prominent figure in London financial circles, has resigned as managing director of Electrical and Musical Industries, Ltd., in London. The reason for his action was due to differ-1 I ences on internal policy with the countrys directors. ] I