Word: trusteeship
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Dates: during 1930-1939
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...also suggested that control of the fund be shifted from the Treasury to a "trusteeship" composed of the chairman of the Social Security Board and the Secretaries of Labor and the Treasury...
...stock, but Judge Shearn is his sole voting trustee. As trustee he has irrevocable control over all Hearst enterprises-provided he can keep the Consolidated preferred stockholders happy-until 1947, when Hearst will be 84. Nobody, not even Hearst, knows if Hearst will live that long, and so the trusteeship is a race against death, when the Government may demand up to 20% in inheritance taxes and creditors can no longer be stalled. Even more, it is a race against dwindling confidence. Judge Shearn has abandoned a large part of the Hearst empire, and well he knows how ephemeral...
While in Africa, the Commission collected fine specimens of big game and some damaging facts about Britain's ''trusteeship'' of backward peoples. Example: Government provision of primary schools is so inadequate that of the 720,000 children between the ages of five and 15 in Uganda, only one-third attend school, and of this number more than five-sixths attend mission schools. The sun may never set on Britain's empire, but it has disgracefully few native minds to which the light of education penetrates...
When Mr. Hearst named him trustee last summer, Mr. Shearn called in the eminently respectable Manhattan law firm of Milbank, Tweed, Hope & Webb, finally accepted its advice to scotch wild rumors by making the trusteeship known publicly. And in October, Trustee Shearn set up a supreme council of top-ranking Hearst executives: Thomas J. White, chief of the Hearst organization and liaison man with "The Chief"; Harry M. Bitner, general manager of Hearst newspapers; Richard E. Berlin, publisher of Hearst magazines; Joseph V. Connolly, head of features, wire services and radio; Martin F. Huberth, real-estate adviser; F. E. Hagelberg...
Finding that he had increased the estate's working capital from $12,920,000 to $17,387,000 in the 26 years of his trusteeship the court refused in March 1931 to remove him as trustee. Six weeks later, when the special audit was completed, Joseph resigned voluntarily. Lawyers' fees for the eight-year quarrel were $1,012,500. Joseph died in 1932. He caught cold watching horse races at New Orleans, insisted on returning to the track blanketed in a wheelchair, took pneumonia. His estate totalled approximately $1,000,000. Sister Mary died in 1906, with...