Word: foundered
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Dates: during 1950-1959
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...midst of the sale, 65-year-old President Louis de B. Moore retired after 44 years with the company. Into his place stepped Executive Vice President William Thompson Lusk, 54, great-grandson of Founder Tiffany. Lusk, born in Manhattan, went to Groton and Yale ('24), was coxswain on the Yale freshman crew and president of the dramatic society, once played daughter Goneril in King Lear. After college he started at Tiffany's as a clerk, worked his way steadily up to executive vice president...
...National, McNamara found trouble everywhere. After the death in 1936 of George S. Rasmussen, its Danish immigrant founder (in 1899), the company went into the red. Finally, John McKinlay, a former president of Marshall Field & Co., got control. Under him, the chain stayed in the red till 1940, when the war put it into the black. McNamara found the chain burdened by paper work and centralized control that failed to respond to local needs. McNamara set up nine semiautonomous branches, whose managers do their own buying, advertising and pricing. He bought out nine competing companies (358 stores), closed up white...
Among the organizations they have approached is the Russell Sage foundation of New York, which recently made a grant to J. Lawrence Dohan '55, founder of the P.B.H. Mental Hospital program, for projected mental health study. The Committee is also soliciting the 51 million dollar Commonwealth Fund and the Josiah Macy, Jr. Foundation...
Died. Mother Mary Joseph, 72, founder (1912) and Mother General until 1947 of the Maryknoll Sisters of St. Dominic, the U.S.'s largest (1,170) Roman Catholic women's missionary order (TIME, April 11); in Manhattan...
Established in 1902 by the late William H. Nichols, a founder of the American Chemical Society, the gold medal is awarded annually to stimulate original research...