Word: put
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Dates: during 1960-1960
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Died. Victor Emanuel, 62, a flamboyant operator from Dayton (AVCO, Republic Steel Corp.) and Government adviser (Aircraft Production Council, advisory committee of U.S. Senate Banking and Currency Committee), who liked to put knowledgeable Washingtonians, e.g., Presidential Crony George Allen, on his boards of directors; of a heart attack; in Ithaca, N.Y. The Depression wiped out a billion dollar utility empire, but Financier Emanuel bounced back as high as ever...
...other states, changed its mind and approved the increases. So confident was President Alpert that tax relief now would be "forthcoming early in 1961" that he grandly ordered the road's car-washing and cleaning program, long since cut to a minimum, to be speeded up immediately to put passengers in a happier mood...
...Francisco, the Bank of America, the nation's biggest (1960 deposits: $9.7 billion) commercial bank this week showed off the most highly automated center any bank can boast. It will serve as the nerve center for the bank's automation system, which has taken ten years to put into operation. It will take over all the work connected with handling checks for the 87 Bank of America branches in the San Francisco area; it will tabulate and clear checks, keep track of the checking accounts and print the monthly statements...
Those lucky investors who years ago put $20,000 into International Business Machines, or a similar growth stock, and have seen it soar to $500,000 today, do have some problems. How can they get their eggs out of the one big basket, spreading the risk by putting their money into a number of stocks, without paying the 25% federal capital-gains tax? To help investors out of this gilt-edged dilemma, two young Denver bankers, Ranald H. Macdonald, 36, and William M. B. Berger, 35, launched a new mutual fund that permits diversification without selling and paying taxes...
...gets out of paying a capital-gains tax," explains Berger. "They just put it off while they broaden their investments." The idea has caught fire. By last week there were at least six copies of Centennial operating or in the process of being formed by such firms as Keystone Co. of Boston and Hugh W. Long & Co. of New Jersey, while Macdonald and Berger were looking for more wealthy investors to start Centennial Fund II. They require $25,000 as a minimum investment, but two of the funds (Devonshire Street-Fund, Inc. and Congress Street Fund, Inc.) are reaching lower...