Word: mutuals
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Dates: during 1930-1939
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...bulgy mayor listened, cut him short, spoke for a few minutes in a voice so low that the electric fan had to be stilled. Then photographers' flash bulbs puffed as the mayor shook hands with Lawyer Dechert and his clients, the officers of Philadelphia's four renowned mutual life insurance companies, who became thus quietly victorious in one of the scariest episodes of their careers...
...adding substantial millions to the city's revenues, they fished out a plan first proposed five years ago but hitherto regarded as too drastic to touch. This was a tax of four mills on every dollar of most of the "personal property" (securities) held in Philadelphia by mutual savings banks and mutual life and fire insurance companies. This time the Council passed the tax and put it up to Mayor Wilson for approval...
Philadelphia seethed. The ordinance was obviously though not expressly aimed at four of the oldest and richest ornaments of the city's business life: Penn Mutual Life Insurance Co. (Assets: $636,875,000), Provident Mutual Life Insurance Co. of Philadelphia ($315,543,000), Fidelity Mutual Life Insurance Co. ($112,438,000) and the Presbyterian Ministers' Fund for Life Insurance ($26,000,000). Most of these companies' investments and other assets are held at their headquarters in Philadelphia. Protesting that they were mortally threatened, the life insurance companies talked of moving to suburban Ardmore or Bryn Mawr, launched...
...strike, rising in one meeting to cry: "Don't do it, lads. I know what it means." In the end the venerable old teamster had to play ball with the dynamic young longshoreman, and while they represented the two extremes of U. S. Labor they grew to have mutual respect for each other...
...pride, ask Italian Ambassador Count Dino Grandi to transmit a "personal appeal" to Premier Mussolini to keep the Bari station quiet about partition of Palestine. Since elegant Mr. Eden two years ago had an encounter with the Dictator at which they exchanged high words and parted on terms of mutual contempt (TIME, July 8, 1935), the Personal sacrifice asked of the young British Foreign Secretary last week was great. Count Grandi few days later brought the British Cabinet an especially courteous cable signed by Il Duce who agreed to keep Bari quiet on Palestine for the present. Few observers...