Word: fund
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Dates: during 1930-1939
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...last week he slapped "on the hook" a new contract with the Bank of France. Under this the Bank's gold stocks were revalued more nearly to correspond with the depreciated value of the franc, thus effecting a "profit" of six billions earmarked by M. Bonnet as a fund for defense of the franc and Government bonds...
Since 1910 the Presbyterian Ministers' Fund has insured clergy of all Protestant denominations, has about 12,500 policyholders with more than $60,000,000 insurance in force. It is governed by 60 '"corporators" who elect their own successors, select 18 of their number each year to serve as directors of the Fund. The directors elect the executive officers. WThen Corporator John Wanamaker tried 40 years ago to swing the Fund's business into the general life insurance field he was soundly beaten...
...Seminary, spent a quarter-century in a church in a Philadelphia suburb called Sharon Hill, where he organized what is supposed to be the only church-owned country club in the U. S. complete with clubhouse, swimming pool and 18-hole golf course. He forged to the front in Fund affairs in 1930, when he fought a revival of the Wanamaker movement, won a court battle for a place on the board of directors. No crabbed theologian. Dr. Mackie thinks his troubles in handling preachers' insurance are virtually nonexistent. Overhead is slight because...
...Fund employs no salesmen, investigates no more than one out of 500 applicants. The Fund does not issue policies for more than $35,000 and the average is around $3,000. Dr. Mackie estimates that the majority of his policyholders earn less than $2,000 a year. Clergymen live long, rarely commit suicide, and, says Dr. Mackie grinning, "darn few preachers are murdered by their wives...
When the widow of Levi Leiter died in 1913 she created a $600,000 trust fund of her own. She then had three living children. She provided that the income from the $600,000 should go to three selected grandsons, but the boys must live in Chicago half of each year and work for their grandfather's estate. When the last of Levi Leiter's own children died, the three boys would get the $600,000. But if they failed to do their duty by Chicago, the $600,000 would be divided among all the grandchildren, including seven...