Word: trusts
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Dates: during 1950-1959
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...Louisville, a segregationist composed a battle hymn: "Stand firmly by your cannon/Let ball and grapeshot fly/And trust in God and Faubus/But keep your powder dry." In Alabama four potential candidates for governor set a political pattern for the South, each desperately trying to outdo the others in praise of Faubus. One wired Faubus his congratulations. Another promised to back Faubus "at all costs." A third offered to go to jail to prevent integration. The fourth topped them all: he was willing to die for segregation...
...BANKING GIANT to be formed by merger of three California banks will rank No. 7 in U.S., with assets of nearly $3 billion. If shareholders approve, as expected, Security-First National of Los Angeles (assets: more than $2.6 billion) will link with Security Trust & Savings of San Diego (assets: $152 million) and Citizens National Trust & Savings of Riverside ($202 million...
...firm that could best "express the newest in materials and design," Connecticut General executives fanned out over the country, picked S.O.M.'s Gordon Bunshaft and William S. Brown, the team that had designed Manhattan's medal-winning Lever House (TIME, April 28, 1952) and Manufacturers Trust Co.'s Fifth Avenue branch (TIME,' Aug. 31, 1953). In crewcut, hard-driving Gordon Bunshaft, 48, the insurance company rapidly discovered it was dealing with a stubborn, topflight designer, with a no-nonsense approach. Architect Bunshaft, who keeps one eye cocked on Corbusier's concern with related forms...
AIRLINE FINANCING of planes will be made easier and cheaper by new law allowing carriers to issue equipment trust certificates, a leasing method that railroads have long used to get rolling stock. Under plan, airline borrows money to buy equipment, then gives title for the equipment to the lender by issuing trust certificates. Airline regains title from the lender when bill is paid...
Most businessmen assume that the rapidly rising U.S. population, expected to top 220 million by 1975, will progressively strengthen the nation's prosperity by creating more workers, new consumers, bigger markets, faster sales, greater industrial expansion. Last week Pittsburgh's influential Mellon National Bank & Trust Co. entered a mild dissent, warned that the growing population will produce as many problems as props for the economy. Said Senior Vice President James Neville Land, 62, in the bank's weekly newsletter: "Our rising population is creating pressures on natural resources which tend to retard further increases in material wellbeing...