Word: yachted
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...intimated that Wimbledon Champ Hoad was not yet ready for big-time tennis (TIME, July 22). Pancho was right. First, Old Pros Ken Rosewall and Tony Trabert beat Hoad, then Gonzales whipped the new boy, 9-7, 6-4, 3-6, 6-3. ¶ Sailing in the Trans-Pacific yacht race from the Los Angeles coast to Honolulu, Skipper Charles Ullman frantically hunted for a winning wind, first tacked south with his soft. sloop Legend, then north, then south again, finally found a fair wind, nipped across the finish line off Diamond Head last week with a winning corrected time...
YEARS ago, before crushing income taxes, a Wall Street customer's man shrewdly invited a prospective client out to his yacht club, and there, so goes the story, proudly pointed out a dazzling harbor filled with his and other stockbrokers' yachts. "Mighty fine," said the dubious client, "but where are the customers' yachts?" As of last week, with 30 million Americans sailing almost 6,000,000 boats of all kinds in the greatest boating boom of all time, Wall Street's customers-along with U.S. butchers, bakers and candlestick makers-had enough yachts to swamp Wall...
Even bigger and better marinas are on the way. Near Los Angeles, where the Wilmington East Basin Yacht Center already serves more than 1,200 boats, the State of California is spending $14 million for one of the world's biggest marinas with dock and service facilities for 1,800 boats at Alamitos Bay, hopes to, have it finished by 1960. In the Puget Sound area half a dozen new marinas are abuilding, including one $500,000 anchorage at Roche Harbor with a special customs-immigration office to speed Canada-bound yachtsmen on their way. Marina Builder Charles...
...helpers. One was a socially topflight admirer, dashing Civil War Major General E. Burd Grubb, a West Pointer with an inherited business. He sent her violets daily from his hothouses but never (he had a strict moral code) asked her aboard his transatlantic yacht. The second was a smooth operator known as "P'ison Jim" Seymour. His diabolical advice to Harriet: "Let the men fool around with mines and railroads. See what you can take out of their wives...
Actually, there is no limit to the uses of trusts and charitable donations to cut taxes. One Chicago executive in the $100.000 bracket, who wanted to spread his tax credit over a period of years, donated his $25,000 yacht to a university in two sections, half one year, half the next, got a $12,500 deduction each year. But tax lawyers warn that anyone who hopes to save money by giving it away had better read all the fine print in the law since the Internal Revenue Service rates each scheme on its individual merits...