Word: trusteeship
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...with little need for them itself but concerned that no one else should take possession, decided not to annex them, instead agreed to a U.N. trusteeship, with the U.S. itself as administrator...
Last week a report to the U.N. Trusteeship Council made the U.S. embarrassment more acute. Back from a six-week tour of the islands, a four-nation (Bolivia, Belgium, Britain, India) committee was full of criticism of U.S. policies and performance. The U.S., charged the committee, has 1) done little to encourage economic development, 2) failed to revive island industries launched by the Japanese during their prewar tenure, 3) allowed school buildings to run down and neglected to provide enough secondary education, 4) proved reluctant to place Micronesians in top administrative posts. In short, the U.N. mission called...
...month before, banks and insurance companies from which TWA hoped to borrow $165 million for new planes had forced Hughes to turn over his 78% of TWA stock to a three-man trusteeship dominated by Breech and Olds. Hughes had even given his approval to the board's reorganization. "It's not that we're trying to match wits with Howard Hughes," said a banker when the trust was set up. "We've given that up long ago. We're just trying to plug up all the holes...
...CONVAIR 880s will go into service this week between New York and Los Angeles. TWA borrowed money to pay for 20 of the 615-m.p.h. jets. Under deal, Howard Hughes had to put his TWA stock (78%) into trusteeship, where it will be voted by three new TWA trustees: Ernest R. Breech, former Ford Motor chairman, Irving S. Olds, onetime U.S. Steel chairman, and Raymond Holliday of Hughes Tool...
...Andrew Cohen, Permanent British Representative to the UN Trusteeship Council, pleaded that the United States "keep out of politics" in dealing with African nations...