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...year began, an American prelate in the Vatican took charge of the institute's affairs. He is Paul Marcinkus, a 47-year-old native of Cicero, Ill., and former special assistant to Pope Paul. In a 2 ½-hour ceremony in St. Peter's basilica in Rome, a choir chanted and Swiss Papal Guards stood stiffly at attention while Marcinkus prostrated himself at the Pope's feet to be made a bishop. The next morning, the burly Marcinkus, who stands 6 ft. 3 in., star ed his new job as the institute's Secretary...

Author: /time Magazine | Title: Investment: Counting Peter's Pence | 1/24/1969 | See Source »

Since the president of the institute, 84-year-old Alberto Cardinal di Jorio, plays only a nominal role, Marcinkus is now a key man in Vatican finances...

Author: /time Magazine | Title: Investment: Counting Peter's Pence | 1/24/1969 | See Source »

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