When Physicist Richard S. Morse founded his National Research Corp. in Cambridge, Mass. 15 years ago, he started out with two basic ideas. On the scientific side he wanted to develop new products and processes and then get help from bigger companies to put them into production. On the financial side he believed that investors were more interested in growth industries and capital gains than a quick cash return; instead of paying dividends, his company would plow back its earnings into new projects that would pay off investors in capital gains as they grew. Both ideas have been so...
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