Word: trusts
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Dates: during 1950-1959
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...former member of an Overseers Visiting Committee and a former member of the Corporation. Yet, these two, John S. Ames '01 and Grenville Clark '03 are two out of some six hundred persons who feel increasingly bitter toward the Corporation. The University is seldom publicly charged with breach of trust, but, when it is, one can be sure there is bad blood involved. The storm over the Arnold Arboretum is no exception...
...around, especially by all the Biologists. The Arboretum staff at first approved. In January 1946, the Corporation endorsed the Plan and begun to work out the details. The courts were brought in at one point--the University asked for and received a decree relieving it from the Botanical Gardens trust which was no longer practicable--but no other parts of the Plan were adjudicated. No one had complained, and there was no reason...
...funds for whatever purpose it feels will further its purpose. The report added, however, that use of the Arboretum must also be justified as in the garden's best interests, and construed those interests broadly. On the other hand, the gift in question might be an express trust, in which case the property would belong to the Corporation, not as owner, but as trustee charged with looking solely to the trust's interests. In this case, diverting funds for University purposes or an administrative mingling of the trust with other trusts or departments of Harvard would be an abuse...
...Dendrology chair. There were clear assurances that Arboretum funds would be devoted primarily to Arboretum assets, and those assets, and those assets would be segregated and identified wherever they were. The Bailey Plan would not be applied, and it was formally conceded that the Arboretum is an express trust...
Under the terms of the deal, Kaiser and the state-owned IAME (Aeronautical & Mechanical Industries Corp.) manufacturing trust will hold 51% of the stock in a new automobile plant to be built and operated by Kaiser. The rest of the stock will be sold to private investors in Argentina. Kaiser will put up some $10 million, mostly in automaking equipment, and IAME will put up $5,700,000. Planned yearly production (by 1957): 40,000 vehicles-passenger cars, station wagons, jeeps and light trucks. Argentina has been car-hungry since 1947, when restrictions to save dollar exchange cut imports...