Word: mutualization
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Dates: during 1920-1929
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...business venture but as a "public service" did Mr. Coolidge accept his new work. Wrote he to Darwin Pearl Kingsley, president of New York Life: "Believing that life insurance is the most effective instrumentality for the promotion of industry, saving and character ever devised, that a well-managed mutual company is a cooperative society for the advancement of the public welfare. ... I accept the nomination. . . ." Mrs. Coolidge may benefit financially from her husband's new work. The company's directors are paid $50 in gold for each board meeting and $20 in gold for each committee meeting...
...Smith's company is also a mutual company and therefore, by the Coolidge dictum, the Brown Derby is now performing a public service equal to Mr. Coolidge's -even a larger public service because Metropolitan Life is far larger than New York Life. A mutual company is owned by its policy holders, who share in its profits, whereas non-mutual companies are owned by stockholders who alone receive dividends. Sharp rivalry exists between Mr. Coolidge's company and Mr. Smith's company. A comparison: Mr. Smith's Company Assets-$2,695,475,965 1928 Income...
...sound common-law marriage is usually composed of: 1) a man and a woman both legally competent to make the contract (age, absence of other matrimonial obligations, etc.); 2) their actual and mutual agreement to enter the union faithfully, permanently, to the exclusion of all others; 3) their cohabitation; 4) the length of time they live together (varying in practice from one to seven years); 5) their public and social conduct as man and wife. Children by such a union, the existence of a settled home, and the community's recognition, all tend strongly to confirm the relationship...
Died. Frank J. Martin, 64, of Seattle, organizer and president of Northwestern Mutual Fire Insurance Assn., Prominent Baptist; in Seattle...
...progress. If the present tendency of giving money to educational institutions were given a broader scope, and extended to this field of intercourse with foreign students, a more equitable basis of relations between the United States and Germany could be completely realized. There would be a sounder mutual understanding of national characteristics which would reduce the friction arising from lack of sympathy. The former unreasoning dislike for Teutonic culture which was so prevalent during the World War has obviously died out, and the unfortunate hysteria of America of 1920 has been cured by common sense...