Word: mutuals
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Dates: during 1960-1969
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...newspapers in 28 U.S. cities are now operating under some form of the plan, and others are considering it. Or at least they were. In Tucson, Ariz., Federal District Court Judge James A. Walsh has just called a halt to such newspaper combinations by ordering a complete divorce of mutual ownership, advertising, and circulation departments between the city's morning and afternoon papers...
Managers of mutual funds and, to a lesser degree, pension funds are operating so exuberantly that in this year's first month volume rose 62% on the American Stock Exchange and went up 20% on the New York Stock Exchange. Trouble is, the exchanges and the back offices of brokerage firms have not expanded and automated fast enough to keep up with the increase. In the resulting snarl of tape and paper, countless buyers have either received the wrong confirmation slips and stock certificates or failed to receive any at all. As they struggle to straighten out the mess...
...shares of relatively small companies that have more promise than profit. But there is no doubt that most institutions have earned much more than they would have if they had invested only in bonds or blue-chip stocks. Last year one-third of the nation's major mutual funds gained 33% or more, and several rose better than...
...chart-covered offices of banks, brokerages and mutual funds, computers constantly scan the stock lists to spot companies or entire industries that appear to be breaking out of their usual earnings pattern. Once an uptrend is noted, word quickly gets around; analysts go to the same meetings, tend to eat at the same places. They constantly talk with each other on local or long-distance phones. Brokerage houses also pass on their research findings to mutual funds and other institutions in hope of landing their enormous commission business. Says an officer of one Boston-based mutual fund: "A stock often...
...High-income individuals would not do quite so well because they would have to pay income taxes on their short-term profits. Mutual funds pay taxes, but most pension funds and profit-sharing funds do not. Their members pay capital-gains taxes on their profits, but only when they collect their share of the funds...