Word: mutuals
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Dates: during 1960-1969
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...will seek to increase economic assistance. Nixon is mindful of the surging economies that U.S. aid has helped create in Japan, South Korea and Taiwan; because of that strength, the Administration has requested $800 million in its foreign aid bill for economic assistance to Asia outside Viet Nam. Formal mutual-defense commitments such as the Southeast Asia Treaty Organization (SEATO) will be honored, but the U.S. will expect Asians to bear more of the military load. Counterinsurgency operations will be handled on a country-to-country basis. The basic premise is that the U.S. will support its allies...
...revise its membership. The exchange's Board of Governors caught many Wall Streeters by surprise by voting to allow its members to sell stock in their own firms to the public. At the same time, the board said that by year's end it would consider permitting mutual funds and other financial institutions either to join the exchange as associates or find some way to grant them discounts on the commissions that they pay on transactions...
Customers obviously enjoy buying Mutual of New York policies from former Boston Celtics Ace K. C. Jones, now head basketball coach at Brandeis University; he has earned membership in the insurance industry's "Million-Dollar Round Table." Maury Wills, the Dodgers' speedy shortstop, does a brisk business at his six Stolen Base Cleaners in the Los Angeles area; he is currently expanding the chain into a nationwide franchise operation...
...accept a broad and unspecific definition of "historic episcopacy," which emphasized mainly the unifying virtues of church government by bishops. The stumbling block for many Anglicans was the proposed "service of reconciliation," in which the Archbishop of Canterbury and the president of the Methodist Conference would exchange a mutual "laying on of hands"; the Methodist president, during this service, would also accept episcopacy...
Held As Hostage. Wall Street analysts are more worried about the glamour stocks of yesterday than about the blue chips. Mutual funds have been selling, and in some cases there has been distress selling inspired by the fear that customers will redeem their fund shares for cash. Even those inveterate bulls, the managers of go-go funds, are unloading stocks, and the hedge funds have been hard hit. Some money is being shifted out of stocks into bonds. People who buy stocks on margin have to pay 11% interest, but those who buy bonds collect as much as 8% interest...