Word: trusts
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Dates: during 1960-1969
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...requiring something near to gallantry; and one will, I believe, be as well informed as by reading any other newspaper, and sometimes much better. But there is no reason why it should be made so difficult. Only the Times shovels every flake of information at its readers, in the trust that they can be their own snowplows...
Johnson's inflationary domestic spending comes in for some of the harshest criticism. "Because of the political picture, Johnson is not being realistic," says Ralph Lowell, former chairman of Boston Safe Deposit & Trust Co. "You can't do all this spending in Government and at the same time spend for Viet Nam." President Mark Wheeler of the New England Merchants National Bank is "disenchanted" because the Government is asking business to contain spending but is not doing so itself. "It's not cricket," says he, "to have business act in a fiscally responsible manner...
Phillips Brooks House cut its $24,000 deficit in half with an $8000 grant from the Educational Branch of Ford Foundation and $4000 from an anonymous Boston Trust, Peter B. Rosenbaum '67, president of PBH said yesterday...
...floating supply of dollars and several issues were scaled down or postponed. But by last week the rush had resumed. International Utilities, a U.S. holding company whose subsidiaries supply gas and electricity in Canada, brought out a $12 million issue. A subsidiary of Manhattan's Bankers' Trust Co., the eighth largest U.S. commercial bank, turned to the Eurodollar market for $20 million. Within the next few weeks, oil-producing Cities Service Co. expects to float a $20 million issue and drugmaking Chas. Pfizer & Co. a $15 or $20 million...
...keep the interest bite as small as possible, an increasing number of U.S. companies have sweetened their bond offerings by making them convertible to common stock. Last week Bankers' Trust paid only 5% for 20-year debentures, and International Utilities' 20-year bonds came out at 5¼ because they can be swapped later for common shares. Conversions water down the value of shares owned by existing stockholders, but the average 1% that borrowing firms save on the interest rate can mean a $4,000,000 saving over the 20-year life of $20 million of bonds...