My understanding is that the source cited for that is an unauthorized bio with some dubious claims as well as outright lies. When Hammer passed, he was in the middle of a libel suit against Weinberg.
Do you have a better source than an unauthotized biography known to contain mistruths?
Well, according to Edward Jay Epstein, Julius boasted of having named Armand after the SLP logo. Admittedly, I haven't read Epstein's book and don't know what his sources were.
In any event, do you really think it is possible that Julius, a leading member of the SLP, was unaware of the party's logo or of the obvious reference to it that his son's name seemed to be? Armand Hammer himself acknowledges in his autobiography:
"My father named me Armand after Armand Duval, the romantic hero in Dumas’s La Dame aux Camélias, or so he said. It is fairly obvious that he must also have had in mind the symbol of the Socialist Labor Party – an arm and a hammer." [emphasis added]
https://www.google.com/search?biw=1904&bih=741&tbm=bks&ei=G1osW4SzBNKWsQXu2LGYAg&q=""my+father+named+me+armand"++"socialist+labor"&oq=""my+father+named+me+armand"++"socialist+labor"&gs_l=psy-ab.3...6014.13576.0.13742.19.18.0.0.0.0.281.2315.0j13j2.15.0....0...1c.1.64.psy-ab..4.0.0....0.Le8qu8KcEIM
So I don't think it's necessary to rely on Weinberg's book for this. But I would also note that just because Hammer didn't like the book (and even instituted libel proceedings--in the British courts, remember, which are a lot friendlier to libel plaintiffs than American ones) doesn't necessarily mean the book is inaccurate. FWIW, quite a few reviewers of the book seem to take it seriously:
***
" Few lives have called so insistently for unauthorized appraisal, and it has finally arrived in the form of a hefty, 501-page volume by Steve Weinberg entitled Armand Hammer: The Untold Story (Little Brown, $22.95). It is a good book, iconoclastic by necessity but judicious in tone, skeptical rather than hostile, on occasion too detailed but written with verve and an eye for the telling anecdote. The author did not receive the cooperation of Dr. Hammer, who is so upset by the volume, which he says is full of errors, that he has threatened to sue for libel. (The book has already appeared in stores, and the controversy will likely boost sales.) Weinberg seems to have talked to every possible source who would talk to him; he reports that he conducted more than 700 interviews, in person and by mail and telephone. The author, an associate professor at the University of Missouri School of Journalism, has mastered the full apparatus of scholarship. His text is carefully annotated, and he has burrowed through the archival remains of numberless Hammer acquaintances whose private papers repose in research libraries. That search has yielded many gems; even the small ones are revealing..." Irwin Ross in *Fortune* http://archive.fortune.com/magazines/fortune/fortune_archive/1989/11/06/72695/index.htm
"Armand Hammer, born in the United States in 1898 of Russian-born parents, has been for seventy years a unique player in Soviet-American relations. The details of his entrepreneurial adventures and his special access to Soviet leaders, from Lenin to Gorbachev, have been obscured in myth and calculated self-publicity. This biography has not answered all the questions, but it is an admirable effort that tells more about the subject than any other source. William Diebold, Jr. in *Foreign Affairs* https://www.foreignaffairs.com/reviews/capsule-review/1990-03-01/armand-hammer-untold-story
"Apart from the story of Hammer`s life, Weinberg`s book deserves attention.
"Weinberg is an associate professor at the University of Missouri School of Journalism and executive director of Investigative Reporters & Editors, a professional organization. His book reflects a journalistic craft that is dying fast in an era when USA Today is the envy of the newspaper business.
"Weinberg clearly practices what he preaches. There probably are few public documents in the world concerning Armand Hammer that weren`t inspected for the book. Hammer refused to be interviewed, but hundreds who knew him did not. The copious footnotes and exhaustive index testify to the rigor of Weinberg`s five-year project.
"What`s more, Weinberg avoids the docu-drama embellishments that often strain the credibility of similar books.
"For all that, Weinberg`s book suffers from a needless and distracting chip-on-the-shoulder attitude. Instead of conducting his research and telling the story cleanly, Weinberg seems intent on rebutting earlier writings about Hammer, including four autobiographical works..."
http://articles.chicagotribune.com/...220_1_armand-hammer-untold-story-book-s-sales
One reviewer actually thought Weinberg was too soft on Hammer!
"In the end, Mr. Weinberg, in spite of his careful detachment, appears to be rather too easily won over by Mr. Hammer. Thus the author explains how in Mr. Hammer's contacts with the Russians ''his devotion to the cause of world peace was constant. He pushed his agenda for peace when it would have been easier to ignore the topic.'' But Mr. Hammer's proclamations about peace appear so closely linked to his own self-promotion that it is hard to take them so seriously. And there is no real evidence in this book that Mr. Hammer has been consistently devoted to any single cause - except money and fame." https://www.nytimes.com/1989/10/29/books/book-business-lonely-at-the-top.html
***
But again, I don't think it's necessary to rely on Weinberg when Armand Hammer himself says his father must have had the SLP logo in mind. Armand doesn't even seem convinced about the Dumas character as a partial reason for his name. ""My father named me Armand after Armand Duval...or so he said." [emphasis added]
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