Word: open-ended
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Comment: "Growth in itself is not something inherently evil. It is the peculiar genius of the Constitution of the U.S. that it could and did operate as an open-end instrument, bringing more territory and more peoples into federal union. That conception should not now be renounced. . . . All national groups [tend] to attribute self-righteousness to [their present] mood. This tendency, which violates Christ's precepts, creates much ill-will and is itself a major contributing cause...
...either a beneficiary or trustee of at least one personal trust fund is liable to find himself at a distinct social disadvantage. Boston is the home of the oldest investment trust in the U. S.-Boston Personal Property Trust, founded in 1893. Boston is also the home of the open-end or mutual general management trust, which is usually called the "Boston-type trust...
Boston-type trusts are 1) always in the process of selling more stock to the public and 2) always willing to buy back their stock at approximately its liquidating value. Thus they have the "open-end" feature of fixed trusts, the management feature of common trusts and their own unique feature, redeemable shares. Last week at hearings in Washington, SEC inspected the oldest (1924), biggest ($110,000,000) Boston-type trust in the U. S. - Massachusetts Investors Trust...
...Presley's Fourth National, the committee was most disturbed by the fact that Fourth National stock sells for far less in the open market than the value of the excellent assets behind it, a condition by no means unique among investment trust stocks. The committee felt that their trust should stand ready to buy its own stock at any time for approximately the actual asset value, as does that remarkably successful open-end Boston trust, State Street Investment. On showdown the insurgent committee was outvoted by Mr. Presley's supporters, 261,000 shares to 107,000 shares...
Home of the cod & the bean, of Cabots & Lowells, Boston is also the home of the "open-end" management trust, a trust which continually sells its shares to the public but which also stands ready at all times to repurchase them at slightly below liquidating value. During the last three years boom-time trusts have often sold as much as 50% of their liquidating value. As a member of Massachusetts Investors' advisory board, Mr. Adams will be able to boast that not only was his the first "open-end" trust but also that in the last few years...