Word: trusts
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Dates: during 1960-1969
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...down payment was $80,000, the principal is $20,000 annually and the interest is $15,000 per year. In addition, the President exercised an option to buy the remaining four-fifths of the surrounding grounds. This was done for him by a trustee, the Title Insurance and Trust Co. of Los Angeles. The trustee pays for the remaining four-fifths with $1,000,000 that Nixon borrowed from the Cotton Estate, previous owners of the spread. Out of this money comes the necessary $320,000 down payment, as well as the $80,000 for the principal payment...
Matter of Trust. When the Citizens State Bank of Alvarado collapsed in April, the F.D.I.C.'s chore was somewhat more complicated. The federal agency is suing the bank's president, Jack Park, who has been mayor of the town since 1954, for $512,000 that it says he embezzled. But the F.D.I.C. seems alone in taking offense. "I've never heard such nice things about me as people said after the trouble started," says Park. In fact, when the Pioneer and Old Settlers Association held its annual meeting last month, its members elected Park treasurer to guard...
...less trust attended the closings in Lovelady, a sleepy town in the piney woods of East Texas, and Big Lake, though there the faith was on the other side. The State National Bank of Lovelady (pop. 644) used to advertise that "we love people, particularly people to whom money is a mystery." President Jim Grady Waller lived up to his ads. "If a man needed money, Waller would give it to him, even if he didn't have collateral," says Mayor W. T. (for William Thomas) Bruton. "A man's word was good enough." The debtors still...
...survey for TIME, Louis Harris has undertaken a study of the public's confidence in the press, its trust and preference in news sources and its attitudes toward some of the more controversial issues covered by the media. The results indicate that although Americans are quick to criticize the way news is handled, underlying public trust in the nation's press and in its constitutional safeguards remains strong. Harris finds, in fact, that nearly two out of every three adults in his representative sample of 1,600 express the view that they are "better informed today than they...
...Lubomir Strougal, 44, the deputy party leader, who has recently emerged as the No. 2 man in the country's hierarchy. Though demonstrators scrawled the words HUSÁK-RUSÁK (Husák the Russian) on walls, the fact is that the Russians do not entirely trust Husák. He is in an unenviable position: rejected by the reformers because he replaced Dubček, disliked by the Czech majority because he is a Slovak and hated by the orthodox pro-Soviet elements (who imprisoned him for eight years) because he is a nationalist who believes...