Word: trusts
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Dates: during 1970-1979
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Folksy Appeal. Litton parlayed hard work and a folksy appeal to victory. Up from impoverished beginnings, he helped build a successful Charolais cattle-breeding operation that he sold in 1974 for $3.8 million. The money went into a blind trust. First elected to Congress from rural western Missouri in 1972, he was re-elected in a landslide and decided to go after a Senate seat this year. When the contest began, Litton was 25 points behind the favored Symington in opinion polls...
...Fell said yesterday that many members of the archaeology wing of the anthropology department do not trust his findings because they do not read the journals in linguistics in which his ideas are reported and appraised...
...much more certain victim, paradoxically, is the U.M.W. itself. Every day that the wildcat walkout continues costs the union's four main health and retirement funds nearly $1 million because they get their money from royalties on coal production. One trust, which provides health benefits to the 200,000 miners who retired before 1974, is being especially hard hit. It was operating at a deficit before the strike, and now has to go deeper into debt...
...Trust of people in Government is the No. 1 issue. It transcends unemployment and inflation...
...gold bust is bad news for developing countries. The IMF puts the profits from its gold auctions into a special trust fund to aid poor nations; now the trust fund will be leaner than expected. The price collapse also poses problems for countries like France, Italy and Portugal, which hold a large proportion of their monetary reserves in gold.* It is even embarrassing to West Germany, which two years ago lent $2 billion to Italy against gold collateral-valued at what then seemed a ridiculously low $120 an ounce...