Word: trusts
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Dates: during 1970-1979
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...syndicate, and placed the stock in his wife's name. She now claims that it was an outright gift and that she paid capital gains tax on the profits when the shares were sold in 1972. But he insists that the stock was only hers to hold in trust, even though in an answer to one of Betty's lawyer's written questions, he referred to it as a "gift." Asked a lawyer for his wife: "That's pretty concise, isn't it, Senator?" Replied Talmadge: "A little too concise." Talmadge quickly amended his answer...
Last week the Georgia supreme court ruled that the money belongs to Talmadge. But he is caught in a dilemma: if the stock was a gift to his wife, he should have paid a federal gift tax; if the stock was only being held in trust, he should have reported it in his annual financial statement to the Senate. He did neither...
...story of the test-tube baby. When Steptoe hesitated, the Floridians looked to other sources. According to London's Sunday Times, the Enquirer team tried to buy details from nurses at Oldham and District General Hospital and offered $97,500 to the administrator of a research trust for Steptoe...
...that the paper "is not going to be in anywhere the same league as The Crimson"; Marshall R. Pihl '55, associate director of the Summer School, allows that the new venture is not an attempt to interfere with this paper's editorial policy. Both are honorable men, and we trust their word. But we are just not sure; some memories die hard...
...Charles Walsh, 54, it was the computer-age equivalent of the BANK ERROR IN YOUR FAVOR card in Monopoly: the Commercial Trust Co. of Jersey City mistakenly notified him that $100,000 had been credited to his account. A bachelor who eked out a living buying and selling coins, Walsh quietly withdrew the money and set out to pursue his modest version of the American dream...