Word: grace
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Dates: during 1960-1969
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...Catholic advocates of "Selective Faith" [Sept. 16] will find an accurate description of themselves in Karl Rahner's book Nature and Grace. His reason why members of this "new heresy" do not leave the Church: "A man of today is no longer as ready to trust his opinion as he was in the times of self-conscious individualism and liberalism; he is no longer so convinced of it that he could easily set up a religious community himself. When people have this feeling and yet cannot bring themselves to believe unconditionally in the Church, then we get-since...
...Peter Grace Jr., 53, is a grandson of the Irish-born chandler and trader who, in 1854, founded W. R. Grace & Co., first as a merchant shipper, later as a holder of huge Latin American in terests. Mrs. Lorraine Mulberger, 52, is a granddaughter of the German-born brewmaster who, in 1855, cooked up Miller High Life, one of the beers that have made Milwaukee famous. Last week Grace and Mrs. Mulberger agreed on a big business deal: for $36 million, Grace bought the 53% controlling in terest owned by Mrs. Mulberger and members of her immediate family...
...Grace, the advantages of the buy were obvious. Since he took over the presidency of the family firm in 1945, the company, while remaining heavily invested in Latin America, has moved steadily toward diversification in both geography and products. For the sake of what Grace calls "motherhome knowledge," the company has rapidly expanded and diversified within the U.S. Financing expansion, Grace borrowed $100 million at 51% from a group of insurance companies, issued $84 million in convertible debentures at 41% , sold another $35 million in debentures in Europe. He was foresighted enough -or lucky enough-to raise this bundle...
...Grace's main thrust has been into chemicals, and the company is now the U.S.'s eighth largest chemical manufacturer-which puts it among giants. It is also big in the food-and-drink field. Having already acquired chocolate companies in the U.S. and Holland, Grace so far this year has picked up Nalley's, Inc., a snack-food producer in Tacoma, Wash., with annual sales of about $45 million, and Marela, Ltd., a pickle firm in Britain. Before the end of 1966, Grace hopes to buy out Sea-Pak Corp. of St. Simons Island...
...political weakness of Chancellor Erhard should not deter the administration from delivering the coup d'grace to the Multilateral Fleet, and other related plans for nuclear sharing, during the German leader's visit this week. Despite the criticism this move will arouse in Germany, the U.S. must make clear its unwillingness to give Germany control over nuclear weapons. This position is essential to the success of negotiations for a non-proliferation treaty with the Soviet Union...