Word: lloyd
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Dates: during 1950-1959
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This week, in the year commemorating the arrival of the first group of Jewish families in America 300 years ago,* the Beth Sholom Congregation in Philadelphia announced that U.S. Judaism was hoping to close the gap. It had commissioned Architect Frank Lloyd Wright to design a synagogue which would "wed the American spirit to the ancient spirit of Israel." Wright's synagogue began as a gleam in the pastoral eye of Mortimer J. Cohen, rabbi of the Beth Sholom Congregation...
...take a capital gain. For these reasons Texas now has 1,884 insurance companies, more than all other states combined, and insurance is the state's second biggest business (after oil). Many of the promoters, for lack of a better corporate name, borrow a respected one from Britain: Lloyd's. In the last 16 months ten Texas insurance companies have gone broke; others are tottering. Last week, to nobody's great surprise, the Texas insurance mess was finally cracked wide open. District attorneys from four counties called for criminal prosecutions of get-rich-quick insurance promoters...
Storm No. 1. The storm first struck when the State Insurance Commission disclosed that Houston's big, two-year-old Lloyd's of North America was operating at a $427,000 deficit. After looking into Lloyd's books, the commission decided that the company had been "utterly and hopelessly insolvent from its inception." It found that Ralph W. Hammonds, an ex-Olympic wrestler (1928), had borrowed $20,000 to start Lloyd's, added $20,000 of his own, sold more than 50,000 policies his first year, and paid back his loan with part...
Storm No. 3. The third storm broke around two El Paso firms, United Lloyd's and United World Life. At the companies' bankruptcy suit, it developed that ex-Texan Spencer L. Treharne (who is now living in New Mexico) got his license to start United Lloyd's on $55,000 borrowed from an El Paso bank and $5,000 of his own. The suit brought out that Treharne also took over a piece of real estate his father had just bought for $30,000 and wrote it up to $322,000. United Lloyd's wound...
...first round, playing against such topflighters as Byron Nelson, Lloyd Mangrum and Bob Toski, Snead fired a three-under-par 67 over the tightly trapped course and picked up 14 points.* Next day, playing two rounds against six more of the most formidable golfers in the U.S., Snead picked up 19 more points and led Runner-Up Jimmy Demaret...