Word: hancockers
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Across the street, where Epstein's Drugstore now stands, was an inn that housed President George Washington during his visit to Joan Hancock, Harvard 1754. Later Daniel Webster opened his law office in another building on the same site...
...oldest existing corporation in the Western Hemisphere, Harvard University can teach many a sharp financial lesson to managers of industrial pension plans and other big investment funds. With the notable exception of John Hancock,* Harvard treasurers have usually invested the corporation's money wisely. Last week, in the Harvard Alumni Bulletin, Treasurer Paul Codman Cabot gave the first detailed explanation of the investment philosophy that has helped build Harvard's General Fund (endowment) to more than $250 million, biggest university fund...
...Hancock slipped off to the Continental Congress in 1774 with the university's treasury. He ignored pointed suggestions that he resign, surrendered ?16,000 of the treasury' funds only when Harvard sent a tutor to Philadelphia to collect them. Not until Hancock died 16 years later did Harvard recover all its property. *Some Crimson-held blue chips in the 1950 portfolio: $3,000,000 of General Electric Co. (74,000 shares), more than $1,000,000 each of Union Carbide, Standard Oil Co. (New Jersey), American Telephone & Telegraph, Seaboard Oil, Texas Co., Texas Pacific Coal & Oil, Illinois Power...
...John Hancock was one of the College's poorer treasurers. "He refused to make accountings or to heed pointed suggestions that he resign," writes Cabot "Finally, when he was away from Boston as President of the Continental Congress one of the Harvard tutors was sent to him by the Corporation to receive the papers and securities in his hands, and succeeded in getting from him 18,000 pounds sterling of the College securities...
...rest of the property was not returned until after Mr. Hancock's death sixteen years later...