Investment: When a Fellow Needs a Fiduciary

More and more people have stopped trying to figure out today's erratic securities markets and have turned their investments over to professional managers of money. No institution manages more "O.P.M.," or Other People's Money, than Manhattan's 116-year-old United States Trust Co., one of whose few advertising themes is "Planned silence is essential to a trust company's character." Evidently, silence is also golden. A recent study by the House Banking and Currency Committee reveals that U.S. Trust, which is really a commercial bank, directs the destinies of $11 billion in personal trust...

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