Word: owning
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Dates: during 1950-1959
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Besides those who directly hold shares in corporations, there are nearly 4,000,000 mutual fund and other investment company shareholders who indirectly own a piece of U.S. industry. Added to these are millions protected by corporate pension funds, which last year bought 30% of new stock issues. The United...
The boom has given the 10 million Australians a standard of living (per capita income: $1,232) that ranks with that of the top nations outside the U.S., and is higher than Great Britain's. Australians eat more meat (nearly 300 Ibs. annually), consume more fruit, cereals and sugar...
¶ Exports are up to $1.9 billion annually, with a 220% increase in minerals, themselves a $1 billion industry. At the same time, imports have been held to $1.8 billion as Australia supplies more of its own needs.
Handsome Profits. The one complaint that Aussies have about foreign capital is the lack of opportunity for local participation in the new companies. Only about 40 of the U.S. manufacturing subsidiaries are publicly owned, and of these only eleven have some degree of Australian ownership. But the Aussie who invests in a domestic company can make handsome profits on his own. In a land that is turning out its own diesel engines, railroad cars, jet aircraft and transistor radios, stocks are an investor's dream. Ansett Transport Industries, Clyde Industries (engineering), Broken Hill Proprietary Co. Ltd. (steel...
Died. Heitor Villa-Lobos, 72, self-taught, prolific Brazilian composer who combined the counterpoint of Bach with the vigorous rhythms of native Brazilian music in more than 2,000 works (Bachianas Brasileiras, Seréstas), gloried in the fact that he constantly shifted his style, followed no one line of...