Word: trusts
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Dates: during 1970-1979
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...history came to an end last week. It had been almost six years since Mark Rothko, whose large canvases filled with luminous rectangles of color had established him as a leader of American abstract expressionism, slit his wrists in his Manhattan studio, leaving his estate to a charitable trust for needy older artists. Under New York State law, Rothko's two children (Kate, now 24, and Christopher, 12) claimed 50% of it. Since 1970, the children and their lawyers alleged, there had been a conspiracy between Rothko's executors-Accountant...
...That would contrast with a 7.6% increase in retail prices in the twelve months ended last October and a horrifying 11% in 1974. On this one point, however, there are some serious disagreements in the predictions. Beryl Sprinkel, executive vice president and economist of Chicago's Harris Trust & Savings Bank, sees the end-of-1976 inflation rate at a low 5%; Robert Nathan, head of his own consulting firm, forecasts a startlingly high...
Jean Smith ingeniously returned the program to the theme of Christmas with a commentary on "what wise guys call kids' stuff." She suggested that it might be better to search for the light of God in the heavens, as "three wise guys" once did, than to trust narrowly in science, which gives people a reason to "fear the bursting of bombs." A unique arrangement of "We Three Kings," by Eric McKissach, a choir member from MIT, set the altos in counterpoint to the sopranos and the basses in contrast to the tenors. Five men stepped out of the group into...
...grand old man of the Trotskyite Sri Lanka Equality Party. She replaced him with another member of the clan, Felix Bandaranaike. Explains one observer: "She takes the position, 'What's wrong with giving my brother a job? He can do it perfectly well, and anyway I can trust him.' " No one has suggested, though, that the Bandaranaikes are corrupt...
With little to gain and enormous sums to lose by pressing for their money, Continental's creditors are again ignoring the deadline and some are negotiating new terms-such as deferring interest payments for three years. There is ample precedent: Chase Manhattan Mortgage & Realty Trust, the biggest of all REITs, sponsored by Chase Manhattan Bank, recently refinanced $761 million in bank loans, and got the interest rate reduced to as little...