Word: investments
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Dates: during 1960-1969
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...season when a number of dealers and publications have been touting "photographic realism" as the latest new trend, at least two of Manhattan's abler painters have proudly displayed what might be called unphotographic realism. Their canvases differ widely, but both Jack Beal, 37, and Joseph Raffael, 36, invest the visible world with invisible qualities of fantasy and imagination...
Because the Coop itself is in debt, it cannot be of very much direct monetary aid to the community. "To expand, the Coop had to borrow from local banks and the John Hancock Company. The terms of those loans expressly forbid us to invest in any other businesses," Brown explains. The Coop can, however, give about $5000 to charity each year, which it donates through the United Appeal...
...modern industrial country, taxes-and the desire to elude them-exert an increasing control over the affairs of individuals, institutions and corporations. They influence a person in how he chooses to invest his savings (municipal bonds, cattle ranches and oil wells are among the most favorable for tax purposes). They determine many a young couple's choice of a wedding date (better at the end of one year than the beginning of the next one). They affect a family's choice of where to live and whether to rent or buy a home. Any high-salaried executive forfeits...
...businessmen, high rates distort decisions about how to invest, how to organize a company, how to reward employees. Companies in need of capital get a richer federal tax break when they issue bonds instead of stocks; they can deduct the interest on bonds from their taxable income, but dividends on stocks must be paid out of after-tax profits. This fact has stimulated the growth of conglomerate mergers, which the Government is now vigorously attacking (see following story). It is fairly cheap and easy for one company to finance the takeover of another by issuing interest-bearing securities of dubious...
...prevent industrial production from setting a new record for the fourth month in a row. Recovering from a January slump, personal income increased $5.3 billion in February to a record annual rate of $491 billion. Most of that jump came from substantial wage increases, which spur businessmen to invest in labor-saving new facilities and equipment. Beyond that, says John R. Hunting, president of Philadelphia's First Pennsylvania Banking & Trust Co.: "Borrowers feel that inflation is here to stay and that it's better to borrow now than later...