Word: centralize
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Dates: during 1950-1959
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...often symbolized powerful human effort in the age-old will to freedom. In 1949 Winston Churchill was chosen Man of the Half Century with these words: "That a free world survived in 1950 . . . was due in large measure to his exertions." Last year, as the battle flared in Central Europe, the Man of the Year was a nameless, single-minded Hungarian Freedom Fighter...
...brought reports of new seizures of Dutch properties. Thirty Dutch-owned steamships were seized in Indonesian waters. Dutch property transfers were placed under stringent control. In Djakarta the Nederlandse Cultuurbank and the last of the "Big Five" Dutch export-import firms were taken over by Indonesian management. The central government ordered some 500 Dutch agricultural estates throughout the islands (sisal, palm oil, spices) placed under the supervision of the Indonesian Ministry of Agriculture...
...Premier Djuanda sharply toned down Sukarno's "hate-the-Dutch" campaign, said that Dutch citizens and Dutch properties would receive full government protection. SOBSI agitators were told by army and government officials to keep hands off. One summary Djakarta pronouncement put all Dutch enterprises in east Java, central Sumatra and the southern Celebes under direct army control. "This was done," said a central Sumatra Command spokesman crisply, "because the Communists might have tried to create confusion...
When Railroader Robert R. Young was fighting for control of the $2 billion New York Central in 1953 and 1954, he bought 100,000 Central shares at an average $22 a share. Last week, with Central stock down to 16, Chairman Young admitted that he had quietly shaved his Central holdings to 28,500 shares...
...wife in a complicated deal for estate purposes. Last month, when the price was as low as 15⅛, Young unloaded another 21,700 shares for tax purposes. Wall Street insiders figured that Bob Young's loss on the second transaction alone topped $100,000. Some of the Central directors who bought shares to help Young have also lost heavily. But the biggest loss has been incurred by Alleghany Corp., the holding company which helped Young take over the Central. Under Young's chairmanship, Alleghany Corp. bought about 1,000,000 Central shares at an average cost...