Word: funston
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Dates: during 1950-1959
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...products to consumers. Little Man Beware. In Wall Street there are still some experts who distrust the supposedly uninformed small investors; they like to quote the old saw that "when the little man comes in, it is time for the professional to get out." Actually, thanks to President Funston and the vigorous campaigning of brokerage houses that conduct stock-market classes all over the U.S., the small investor is an increasingly well-informed buyer. He has done about 19% of all the buying and selling in recent years, as judged by trading in odd lots (less than 100 shares...
...amount invested in mutual funds, which are designed for small investors, has passed $7 billion, and the funds are growing at the rate of $1 billion annually. Some 50,000 small investors have joined the Stock Exchange's Monthly Investment Plan, the favorite stock-selling device of President Funston, and they now own 600,000 shares worth $24 million. Another 2,000,000 are investing in stock-purchase plans set up by 350 companies in almost every industry...
...from Iowa. Young Funston had good reason to think so. He was born on Oct. 12, 1910, in Waterloo, Iowa, into a moderately well-to-do family. Later the family moved to Sioux Falls, S. Dak., where his father, George Edwin Funston, owned the International Savings Bank. Funston. an honor student in school and an ardent Boy Scout, seemed to have an assured future until everything changed in 1924. In a bank panic that year, the family wealth was swept away, and Funston, in his freshman year at high school, had to earn money to go to college. He candled...
...planning director; a year and four months later he was in Washington helping Banker Sidney Weinberg set up the Industry Advisory committees of the War Production Board, became Weinberg's protégé, and later an assistant to War Production Board Chief Donald Nelson. Everywhere he went, Funston's personality magically opened doors. Said a colleague: "He never battered them down. Doors opened as if by an electronic eye-the light picked him out, and the door just opened...
...College Door. The most promising door opened for Funston in 1944, when Trinity College, its finances in poor shape, desperately needed a president who was a salesman, educator and administrator rolled into one. At 33, Funston became one of the youngest college presidents in the U.S., immediately took a leave of absence for a year and a half to serve in the Navy as a lieutenant commander working on contract termination. At one of his first faculty meetings on his return, Funston explained his credo: "Gentlemen, in order to be successful, you must look successful." He had the grounds landscaped...