Word: needing
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Dates: during 1950-1959
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Penicillin, so miraculously effective against early syphilis that the disease's late, crippling stages need never develop, is also effective in many cases where brain damage results from failure to get prompt treatment, 13 researchers in seven cities reported in the Archives of Neurology and Psychiatry. If the paresis is not too far advanced, 80% of victims can return to work after massive penicillin treatment. In most cases it makes the "fever cure" unnecessary...
...Dose for News. Unlike their Western counterparts, Soviet journalists need pay scant attention to the significant events of the day. The kind of stories that fill U.S. newspapers-including international tensions, local crime and disasters-are almost totally ignored unless they make a party-line point. Pravda's Satyukov stopped the presses only twice this year, once to insert a dispatch from the Russian news agency Tass covering U.A.W.-C.I.O. President Walter Reuther's phony "March of the Unemployed" on Washington (TIME, March 2), once to report Konrad Adenauer's decision to yield the West German chancellorship...
...money) to the status of a fine art. The art was born of an 1830 court decision, the "Prudent Man Rule." In settling a suit charging a trustee with negligence in investing in common stocks, the judge held that a trustee for someone else's money need only "conduct himself faithfully and exercise the sound discretion" in investments that a prudent man would. This meant that Boston trustees could prudently buy into common stocks, fear no suits from clients even if they lost every penny...
...that. Despite howls from the financial world, it opened its books and portfolio of stocks to the public, setting the pattern for the "fishbowl" policy under which the whole fund industry now operates. Instead of fighting New Deal legislation aimed at regulating investment-company practices, it recognized the need for regulation, helped the New Deal frame the laws. So similar were M.I.T.'s bylaws to the Investment Company Act of 1940, which laid the ground rules for the funds, that M.I.T. had to change only a few commas...
Says M.I.T.'s Robinson: "Within their range, mutual funds can fit the need of almost any investor." They can also find a host of critics. Many critics charge that the funds, along with other institutional buyers, have needled the roaring bull market to artificial highs, that their constant buying, chiefly of blue chips, has helped create the present shortage of stocks. The funds' answer: they hold only 3.4% of all stock on the New York Stock Exchange, and do not hoard it; they turn their shares over faster than the exchange as a whole...