Word: hancockers
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...nine months realized a $200,000 profit. As the Government grew and the housing demand picked up, Wolman's fortunes soared. Just 16 years after arriving in Washington, he was worth $35 million, on paper. His real estate holdings stretched from Philadelphia to Chicago, where the John Hancock Life Insurance Co. helped finance a Wolman scheme for a 100-story office-residential building...
Short of Sources. Then, last December, Wolman began running short of money sources; he sold John Hancock his interest in the Chicago skyscraper for $5,500,000, getting only half his investment back. Now his other holdings are also threatened-including millions in real estate, Philadelphia's Connie Mack Stadium and the Yellow Cab companies of Philadelphia and Camden, N.J. In addition, he has overdrawn his bank accounts by $85,000, is $226,000 behind in paying his insurance premiums and owes $182,000 in back taxes...
Suspended Sales. Even though John Hancock Mutual Life Insurance Co. has just increased its underwriting from $7,000,000 to $14.5 million, construction has slowed to a near standstill at six-year-old El Dorado Hills, a 10,000-acre new town 25 miles east of Sacramento. Ross Cortese, one of the nation's foremost developers of self-contained retirement villages, was forced to suspend sales and refund some down payments recently at four of his "Leisure World" communities in Maryland, New Jersey and California. To reduce his heavy land-carrying costs, he is also trying to sell...
Still cash-shy despite Gulfs investment, Simon borrowed $20 million more in 1966 from John Hancock Mutual Life Insurance Co.-and surrendered title to most of Reston's land, for which he had paid $13 million. But expenses mounted while house sales (only 582 so far) lagged behind. Many of Reston's starkly modern town houses proved too costly ($35,000 to $47,000) to lure buyers. In an effort to assure full occupancy of the 15-story apartment tower that makes Reston a symbol of urbanity in the boondocks, rents were set too low to repay...
Krister Stendahl, Frothingham Professor of Biblical Studies, Frank M. Cross, Hancock Professor of Hebrew and Other Oriental Languages, and George H. Williams, Hallis Professor of Divinity, signed a statement by Niebuhr saying that "we see no justification in the proposals which seek once again to destroy the unity which has been restored to Jerusalem...