Wealth concentration remains high among the very rich
The Lampman study shows the richest 1 percent hold 27 to 28 percent of personal wealth in the United States, close to 28.3 percent in 1933. The top 1% own 76 percent of all corporate stock, 32 percent of U.S. government bonds, 12 percent of real estate, and about 11 percent of state and local bonds. The report, based on 1922–56 data, notes wealth growth since 1922 rising to about $2 trillion by 1962 and suggests stock-market gains boosted the rich more than the middle class or poor.
MENTIONED IN THIS ARTICLE
U.S
Robert J. Lampman
University of Wisconsin
National Bureau of Economic Research
Princeton University Press
Lampman
Brooklyn Gang Rescues Children From Fire Wins Praise
Brooklyn’s Gallo gang rushed through smoke to save six children from a burning third floor flat on President Street. They smothered flames, released residents, and aided the family with clothes, funds, and temporary housing. A fire official called their actions commendable despite their recent gang notoriety.
MENTIONED IN THIS ARTICLE
Raymond Martin
President Street
Evelyn Biaz
Sista Biaz
Albert Gallo
Battalion
Alexander Steier
Brooklyn
Larry Gallo
No U.S. Action On Union Vote
Washington AP reports the government found probable federal law violations in the 1961 Machinists Union officer election but said violations were not widespread enough to alter results or justify court action.
MENTIONED IN THIS ARTICLE
Washington
Viet Cong Kill Six In Militia Family Fire
Saigon reports Communist Viet Cong guerrillas bound and burned a militia family home killing six members in the attack. The government labeled the act a brutal atrocity and blamed the insurgents for the massacre.
MENTIONED IN THIS ARTICLE
Saigon
Seventeen by Bernard Lansky at San Remo on Riviera
The 336 foot carrier built in 1945 as a navy landing craft and later a baby flattop sits mothballed in Charleston. Sale offers were rejected by state and federal agencies. a block of equipment valued at $13 million remains tied to government surplus. The report notes a Bride's story of blackmail murder linked to the Strip and an upcoming feature on KCRG TV.
MENTIONED IN THIS ARTICLE
Charleston
S.C
Navy Yard
Defense Department
Kcrg-Tv
Surplus Carrier Sells for 130000 in Auction
In Chicago a $2 million surplus aircraft carrier, previously offered free by the government, sold at auction for $130,000 to Carlos Camossi of an Italian development firm. The vessel will be refitted as a floating hotel and anchored offshore.
MENTIONED IN THIS ARTICLE
Chicago
Away
Carlos Camossi
Also Mentioned on This Page
Sylvia Porter
New York
Franklin D. Roosevelt
Brooklyn Gang
Ray Kohn
Gallo Gang
Gallo
Che
Crdur
Lunpids Gazette
Bernard Lansky
San Remo
Capris
LO Fae
W.t.grant CO
1St Ave
Member
Federal Deposit Insurance Corporation
Federal Reserve System
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