WBTS Owning stocks in cigarette giant?

chuckie77

It was stated in a previous post that the WBTS owns stocks in tabacco giant Phillip Morris. Does anyone know this for fact? I would have thought being a not for profit organisation, trading in stocks and bonds would not be allowed.

Thoughts?

OUTLAW

Actually chuckie77,it`s tobbaco giant "Phillip Morris" Check out the Thread: the WatchTower and the cigarette company...OUTLAW

chuckie77

Cool, thanks outlaw, I'll have a look!

Gerard

The WT does not own shares. The H M Riley Trust is a U.S. trust that has the Watchtower Society as the sole beneficiary. Basically, it is a vehicle to make income for the Watchtower, using assets left by Henrietta Riley. The income generated by the trust is transferred to the Watchtower by means of a "donation". For the year ended April 30, 2002, the trust generated income of $1,740,127 and donated $1,945,645 to the Watchtower. In comparison, for the 2001 year the trust generated $2,939,731 in income, and donated $3,285,050 to the Watchtower. The difference between income and expenditure is made up by realising gains on the assets held.

Thus, the trust has made an investment in a cigarette company, with the object of generating income which will be transferred to the Watchtower Society. http://www.jehovahs-witness.com/11/54708/1.ashx

jayhawk1

It still seems odd that the Society gets money indirectly from a tobacco company. Doesn't this trust or another one like it also have stock in a gun or military company? This would also be a contradiction of beliefs vs. practices.

To tell you how brainwashing the JWs can be, I remember my dad contemplating quitting his job when Raytheon bought Beech Aircraft, because Raytheon is a huge military contractor. Thankfully he didn't change jobs.

the nana

YOU ARE ALL PART OF A TARGET MARKET. NATIONAL ENQUIRER........... WE NEED YOU STILL (THEY CRY)

katiekitten

Hey nana, have you watched "Whose Line is it Anyway" where the comedians have to act a given sketch out, but two of them are only allowed to say two lines each.

Just wondered if you were playing that game and had forgotton to tell us?

OUTLAW

Gerard..So,the WatchTower.Bible and Tract Society makes a profit from the sale of tobbaco?..Money they would not have,without the sale of tobbaco?..Is that what your trying to tell us?..I agree..They could always give that trust up,but then the tobbaco money would disapear..God wouldn`t like that..God needs the money...OUTLAW

WBTS Owning stocks in cigarette giant?

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