Word: mellons
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Dates: during 1950-1959
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Potent Arm. Mayor Lawrence appeared on the municipal scene just when Financier Richard K. Mellon (Mellon National Bank, Gulf Oil, Alcoa) and a platoon of lesser tycoons were preparing to rip their dowdy old city apart and rebuild it. Lawrence proved to be a valuable political ally. He ordered strict enforcement of smoke-control ordinances, pressured Democrats at Harrisburg and Washington to pass laws and approve appropriations that helped build new roads, bridges and dams. His reward: the business community's gratitude. Four years ago Lawrence's Republican opponent was not even invited to participate in the face...
Most businessmen assume that the rapidly rising U.S. population, expected to top 220 million by 1975, will progressively strengthen the nation's prosperity by creating more workers, new consumers, bigger markets, faster sales, greater industrial expansion. Last week Pittsburgh's influential Mellon National Bank & Trust Co. entered a mild dissent, warned that the growing population will produce as many problems as props for the economy. Said Senior Vice President James Neville Land, 62, in the bank's weekly newsletter: "Our rising population is creating pressures on natural resources which tend to retard further increases in material wellbeing...
...publicity-shy Board Chairman Joseph Newton Pew Jr., 70, and Avia-tionabob Howard Hughes, 51, $350 million each. No. 5: Texas Oilman Clint ("After the first hundred million, what the heck?") Murchison, 62, $300 million. Tied for No. 6: Pittsburgh's far-visioned Banking Heir Paul Mellon, 49, St. Louis's fun-loving Brewer (Budweiser) August A. ("Gussie") Busch. Jr., 58, and money-pouring Philanthropist John Davison Rockefeller III, 51. In the No. 7 spot and tenth richest: the Coca-Cola Co.'s Director Robert Winthrop Woodruff, 67. What have they in common besides wherewithal? As Writer...
These gifts do not approach the dimensions of the Mellon Foundation's $15 million gift to Yale University last spring, but Harvard's President Nathan M. Pusey and new Program chairman H. Irving Pratt of New York are now pushing for the large gifts, hoping that the end of the recession will spur these...
...year than in all the years from 1776 to 1933. Research expenditures by the Government, inconceivable in 1900, now total more than the entire cost of Government in that year. There were only two nonprofit scientific organizations in 1936: Battelle Memorial Institute in Columbus, Ohio and Pittsburgh's Mellon Institute for Industrial Research, with an annual volume of $1,100,000; now such institutions total 48, take in $100 million yearly. Moreover, the total U.S. research effort is growing at the rate of 10% to 12% a year v. an average annual increase of 3% in the gross national...