Word: stillness
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Dates: during 1940-1949
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M.I.T. is still the biggest of the open-end trusts. In Boston, where the managing of other people's money has always been the highest calling (short of the pulpit or the presidency of Harvard), M.I.T. does not suffer from the fact that a Cabot, a Lowell and an Adams are on its advisory board-and that Merrill Griswold, its Harvard Law School-trained chairman, was once married to a Lowell...
There are still some drawbacks. The big commission charged at the original purchase usually eats up the first two years' dividends. And as funds are usually invested in a wide segment of the market, they must inevitably depreciate when the market as a whole is going down. Thus, most investment companies will be just as healthy, in the long run, as the total U.S. economy. Their biggest virtue is that they are giving more & more small investors (stockholders now exceed 1,000,000) a widespread stake in that economy...
Peddling war plants, fishhooks, girdles and bulldozers, WAA had a peak of 58,795 workers, more than 100 offices. WAA still has on its books $1.8 billion in property, mostly real estate. Like other Washington bureaus which have outlived their usefulness, WAA will not die completely. Most of its 2,550 employees will be transferred for close-out bookkeeping chores to the new General Services Administration...
...David Philipson, 86, "Dean of the American Reform Rabbinate"; in Boston. Longtime (1888-1938) rabbi of Cincinnati's Bene Israel Congregation, Dr. Philipson helped draw up the famed "Pittsburgh Platform" (1885), which set forth the principles of Reform Judaism, in 1907 wrote The Reform Movement in Judaism, still a standard work on the subject...
...celebrating its 25th birthday, M-G-M is still Hollywood's biggest studio (31 stages and 3,700 employees), and the only one to have run so long with regular dividends and without merger, bankruptcy or reorganization. For the anniversary year, no special day has been set for a celebration. But last week M-G-M executives kept a date that came close enough for the milestone: they trooped to a birthday luncheon for 64-year-old L. B. Mayer...