Word: tennesses
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Dates: during 1950-1959
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Though smaller (60 Moscow newsmen, 65 correspondents in Russia and ten abroad), Izvestia is every bit as profitable as big brother: on a recent visit to this country, Assistant Editor A. G. Baulin confided to a U.S. publisher that the paper reaps an annual profit of $10 million, clears 2? on every copy it sells...
Among the score of groups that have assayed the Anaconda papers, the most likely buyer is the Midwest's loosely knit, ten-paper Lee syndicate.† Founded by A. (for Alfred) W. Lee in 1890, the chain is now handled by his nephew, Lee Loomis, 74, who lives in Mason City, Iowa, presides over a tidy little empire that is generally pro-Republican, but allows its members to play the news as staidly or sensationally as they like. The reported bid of the Lee papers for the copper chain: some...
...last decade, the funds have become the fastest-growing, most competitive and most controversial phenomenon of the U.S. financial world. Ten years ago they had fewer than a million shareholders with $1.5 billion invested. Last week they had nearly 3,900,000 with $14 billion invested in more than 200 different funds...
...which has leaped in value to $14,000. Big investors also flock to the funds: such schools as Massachusetts Institute of Technology, the University of Oklahoma, and Texas Christian University have invested part of their endowments. The funds have been copied abroad in Great Britain, West Germany, Switzerland, Mexico. Ten years ago, most people had never heard of mutual funds; now, the term is a household word...
...biggest funds are not necessarily the best performers. Over the past ten years the average fund has increased about 300%. M.I.T.'s gain over that period: 365%. Thus $1,000 invested in M.I.T. shares ten years ago would be worth $3,650 today v. $1,417 if it had been placed in a savings bank at $%. But many a smaller fund that has less to invest, and thus can get in and out of the market more easily, has done much better. Among the top performers in each fund category, the best record of all was turned...