Word: trusts
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Dates: during 1960-1969
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Lamont is a director of both the Texas Gulf Sulphur Company, which made the strike, and the Morgan Guaranty Trust Company. He is charged by the SEC with telephoning word of the strike to an officer of Morgan Guaranty before the news was made public...
...expenditures for sprucing up and enlarging existing stations and for building handsome landscaped new ones. Shell, Sun Oil and Gulf are combining many of their new stations with restaurants, and Sun has opened a station in Canton, Ohio, with a built-in, drive-in branch of the Harter Bank & Trust Co. In Des Moines and Fort Worth, Continental Oil is building drive-in grocery stores next to new filling stations...
Obviously, whether debt is moral or immoral depends on its use. It can be highly moral when it implies trust between man and man and a civilized respect for contracts. Some clergymen are a bit embarrassed that in a national rating of 42 types of credit risks, the clergy ranked a mediocre 17th (best risks are business executives, worst are farm laborers). Union Theological Seminary's Professor Roger Shinn says that the key to the moral issue is whether credit enhances or restricts personal freedom. "Debt is wrong if it overburdens and blocks a person and destroys his freedom...
...time the phosphate runs out. Under the agreement, deRoburt, 42, more than trebled his people's royalties (to $1.50 a ton, retroactive to July 1, 1964) and extracted yet another price boost (to $1.97), effective next year. The Australian government, which administers the island as a U.N. trust territory, will hold most of the islanders' cash in trust until the time comes to move...
...tremendous buy-or-sell power is wielded by small committees of managers, who think of potential loss before they think of potential gain and place one factor above all others: the quality of a company's management. The biggest funds-such as Investors' Mutual, Massachusetts Investors' Trust and the Wellington Fund-have a small turnover and aim to find stocks that they can profitably hold for six years or more...