Word: trusts
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Dates: during 1950-1959
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...agency, World Bank President Eugene Black (TIME, June 25) tapped one of his own top lieutenants, Mississippi-born Robert L. (for Livingston) Garner, 61, who still talks in a deep Southern drawl, despite his 37 years as a Northern banker-businessman (vice president of Manhattan's Guaranty Trust Co., General Foods Corp. and, since 1947, the World Bank). Garner's IFC starts with a fund of $78.4 million, hopes to prove that private enterprise in underdeveloped countries pays off, attract other investors who might normally be wary of investing in backward lands...
...build his ships in the U.S., v. $200 in jampacked Japanese yards, he will get far better engineering and faster delivery (by late 1957). As a result of the suits, he also placed 75% of the stock in three of his U.S. companies in trust for his American sons-Philip, 4, and Spyros Nicholas, 14 months...
...problem. Gas and oil had been discovered on their land, and they could soon expect to have $7,000,000 in royalties to spend. Last week, on the advice of Nonagenarian Faris, the Tribal Council deposited in the First National Bank of Albuquerque $1,000,000 in a special trust to ensure the tribe's future. The $40,000-a-year income it produces will be used as school and college scholarships for the Jicarillas-boys, girls and adults. The largest tribal trust of its kind, it appropriately bears the name: the Chester E. Faris Educational Fund...
...stockholders in publicly held companies, one-third more than four years ago. So New York Stock Exchange President Keith Funston announced this week, after a survey of 6,000 corporations, brokerage firms, banks and trust companies. With another 1,400,000 persons owning shares in privately held corporations, there are now more than 10 million stockholders in the nation, one out of every ten U.S. adults...
...respected, nonprofit American Institute of Management* after a three-month study of G.M.'s published figures. The survey was the idea of A.I.M.'s founder-president, Jackson Martindell, a hardheaded businessman himself, who has been president of Fiduciary Counsel (investment counselors) and Fiduciary Management (an investment trust), last month won control...