Philip L. Carret, 101, a founder of...


Philip L. Carret, 101, a founder of one of the country's first mutual funds, died Thursday in Mount Vernon, N.Y., while recovering from hip surgery. He founded the Pioneer Fund in 1928 with $25,000 contributed by friends and family.

In an investment career that encompassed dozens of bull and bear market cycles, Mr. Carret was known as a proponent of the "value" style of investing, buying shares of companies with steadily growing earnings, strong balance sheets and committed managers, and holding onto those investments for many years.

Dorothy Spence Briley, 63, editor in chief and publisher of Clarion Books and a vice president of the trade and reference division of Houghton Mifflin Co., died of a heart attack May 24 at her New York home.

Richard Uray, 73, who established the University of South Carolina's broadcasting courses and taught them for 30 years, died Tuesday in Columbia, S.C. He was inducted into the South Carolina Broadcasters Association Hall of Fame in 1991, the first educator to receive the honor. He retired in 1996.

Pub Date: 5/31/98

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