Word: trusts
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Dates: during 1960-1969
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Harvard stands accused of numerous breaches in the administration of the 93-year-old charitable trust under which it runs the Arnold Arboretum. The Arboretum was established on, and still occupies, 265 acres in the Jamaica Plain section of Boston...
...indenture warned that the fund was not to be diminished "by supplementing any other object, however meritorious, or kindred in its nature.". The University argues in its latest brief that the object of the trust is "to increase and disseminate scientific knowledge in the field of trees and shrubs in the public interest." Since the transfer served that purpose, it concludes, it was not a breach of trust...
...speaks of the "thickness" of poverty-the dead ambitions that make for apathy, immobility, unaspiring hopelessness. One Government study by psychiatrists found that many of the poor are "rigid, suspicious, have a fatalistic outlook. They do not plan ahead. They are prone to depression, futility, lack of friendliness and trust in others." In the burned-out mining towns of Appalachia, ninth-generation Anglo-Saxon American men cluster around TV sets that blare from the grim, grimy tar-paper shacks. "They're not much interested in what's on the screen," says John D. Rockefeller IV, a 28-year...
...father as a trustee when he turns 25 next May. But he will not become publisher of his father's newspapers until the trustees consider him "sufficiently trained." When his only brother Frederick, now 13, reaches 25, according to the terms set by Marshall Field III, the trust, which now holds two-thirds of the corporation's stock, may be dissolved. Then the two Field brothers can take over to run the family enterprises in whatever way they...
...most important U.S. executive ever indicted under the Sherman Anti-trust Act appeared last week for sentencing in Manhattan's U.S. District Court. Facing a possible one-year jail term and a $50,000 fine was Jones & Laughlin President William J. Stephens, 58, who had pleaded no contest to Government charges that from 1955 to 1961, while he was a sales executive of Bethlehem Steel, he had met with other industry men in Manhattan hotel rooms to rig some prices on carbon sheets, the commonest grade of steel. Also facing the same sentence was a lesser executive, James...