Word: philadelphia
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Dates: during 1950-1959
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...salary of $12,000 yearly* was made possible last week by Philadelphia's Donner Foundation, for one teacher at each of six blue-chip U.S. private schools: Andover, Exeter, Groton, Hill, Mount Hermon, St. Paul's. Reason: the schools are "among those setting teaching standards." By giving them endowments of $300,000 apiece, the Donner Foundation has a sound scheme: releasing money to raise all teachers' salaries within the lucky six schools, and creating a lever to boost pay across the country...
...figures that one critic noted "look as though they are wrapped in dry leaves. If they moved, you could hear them crackle." In contrast with the age-old tradition of hiring a model and making her a mistress. St. Louis-born Sculptor Allen Harris, 34, who last year won Philadelphia's Da Vinci Gold Medal, uses his own shapely wife as a model. Minnesota-born Paul Granlund, 33, has sold enough work to pay for casting nearly 100 figures. Like most of his colleagues, he plans to return to the U.S. Said Granlund. "Minnesota is a real live place...
MANY a favorite of yesteryear drops quietly from sight. More exciting are the rare instances of painters whom time mellows and improves. Such a one was Philadelphia Painter Arthur Carles, whose reputation for a while seemed to gutter and go out. Now, with a chance to review his lifetime's production at an exhibition of paintings at Manhattan's Graham galleries, critics have been shocked into recognizing Carles as one of the unsung ancestors of today's abstract painting...
...imitators and variations: ¶ The unrestricted common stock funds such as M.I.T., which like to keep a balance between dividend and growth stocks. ¶ The growth funds, which are concerned not with dividends but with long-term capital gains (M.I.T.'s own growth fund). ¶ The balanced funds (Philadelphia's Wellington Fund), which keep their money in both stocks and bonds and shift the balance as the market changes. ¶ The income funds, liked by elderly or retired investors, which concentrate on high-yielding stocks (Manhattan's National Securities...
...investment philosophy (" 'Tis the part of a wise man not to venture all his eggs in one basket"), but he keeps all his sales eggs in one basket by having I.D.S. sell all five funds itself, a practice unique among investment companies. ¶ The Wellington Fund, of Philadelphia, is a balanced fund with assets of $925 million and 275,000 stockholders. Launched in 1929, it is still run by President Walter Morgan, one of the founders, also has a second fund (Wellington Equity Fund), with assets of $41 million. Wellington topped all the funds in new sales over...