Word: pensionable
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Which common stocks do Wall Street's biggest investors prefer? Last week the New York Stock Exchange compiled a list of the 15 stocks most widely held by insurance firms, pension trusts, college endowment funds and other institutional investors, found all of them were deep blue chips. At the head of the list was Standard Oil (N.J.), which was held in 506 portfolios. The others: General Electric (417 portfolios); E.I. du Pont (393); Union Carbide (391); American Telephone & Telegraph (387); General Motors (360); Gulf Oil (341); Westinghouse Electric (334); Texas Co. (319); Kennecott Copper (301); Phillips Petroleum (282); Socony...
...Economist Sumner Slichter and others, is that the U.S. economy has become so complex-and strong-that the parts no longer necessarily move in the same direction all at once. In the future, different industries may have their individual ups and downs, but built-in props (e.g., pension plans, long-term management planning and investment, social security and an ever-increasing need for hospitals, highways and other public works) give the economy a cushion such as no nation has ever had before. Says Slichter: "The old-fashioned business cycle is being destroyed...
...should suggest to those Legionnaires who are agitating for this $100 per month pension at the age of 60 that they earn it by correspondence courses, active duty for training, participation in reserve drill as the rest...
...from machine tools to pots and pans, with an estimated value of $30 million. He has become, as one business acquaintance calls him, "a speculator in companies"-specifically companies that can be bought for less than their asset value. In pursuit of this goal, young Richmond has tapped corporate pension funds, which, he says, "are getting to be the largest source of capital in the world...
...situation (in 1937 he turned down a $150,000-a-year offer from a New York law firm) while his earning powers were still at their height. And he was not swayed by a state constitutional amendment doubling the governor's salary (to $50,000) and increasing his pension. Said Dewey: "If personal finances ever enter into holding public office, that's the moment...