Word: mutuality
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Dates: during 1960-1969
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...title of The Waste Land [Nov. 22] and what that title He Do the Police in Different Voices means. I cannot speak with authority as to why Eliot chose to call his poem by that name, but there is no doubt that it comes from a book called Our Mutual Friend by Charles Dickens...
...commander in Viet Nam, expects Hanoi to start right off with a demand for a cease-fire in place-a move opposed by most policymakers in Washington and Saigon because it would leave the Viet Cong in control of too much territory. Others foresee serious talks on a mutual troop withdrawal...
...smallest dabbler in penny stocks and the manager of a billion-dollar mutual fund have at least one thing in common: both men are always alert for the inside tip, the informed gossip that can lead to quick profit. Not surprisingly, stockbrokers often pick up those tips ahead of their customers. And they usually pass the information along to large institutions whose trading pays big commissions. Last week, for just such misuse of inside information, the Securities and Exchange Commission severely penalized the world's biggest brokerage house, Merrill Lynch, Pierce, Fenner & Smith...
According to the SEC, the bad news was reported to 15 mutual funds and other big institutional customers as early as June 20 - four days before Douglas an nounced its troubles. During that period Douglas stock dropped from $90½ a share to $69; the investment companies liquidated or sold short their holdings, thus saving or earning a total of $4,500,000. Merrill Lynch was paid for its early-warning services, contended the SEC, by the commissions it collected on the institutional trading. And even as the big organizations were dumping Douglas, Merrill Lynch continued to buy the stock...
Last week the merger prospects vanished as suddenly as they had appeared. In a joint statement that was every bit as unexpected as their September song, McColough and C.I.T. Chairman L. Walter Lundell announced a "mutual agreement" to drop the matter. They offered no reason for the dropout. The two companies did, however, have some explaining to do-if only to their own people. One nonplussed C.I.T. director complained to newsmen that he had been taken by surprise both in September and by last week's announcement. The idea had been broached and the two companies had launched studies...